In today’s briefing:
- CATL H Share Listing: AH Discount Views
- Dover Corporation’s Inventory Gamble: Genius Move Or Costly Misstep In A Volatile Market?
- Monthly Air Cargo Tracker | Even Before US Tariff Chaos, Conditions Had Turned Weaker (May 2025)
- Greaves Cotton Q4 FY25 Update: Diversification Strategy Drives Strong Performance & Profitability
- Textron Inc.: Aviation Aftermarket Strategy To Strengthen Client Relationships & Bolster Profitability!
CATL H Share Listing: AH Discount Views
- Contemporary Amperex Technology (CATL) (300750 CH), the world’s largest supplier of EV and ESS batteries, is set to launch an H Share listing to raise US$5 billion.
- In CATL H Share Listing: The Investment Case, a leading market position, forecasted return to growth, peer-leading profitability, cash generation, peer-leading FCF margin and an attractive valuation are highlighted.
- In this note, I examine the likely discount CATL will offer its H Shares compared to the A Shares.
Dover Corporation’s Inventory Gamble: Genius Move Or Costly Misstep In A Volatile Market?
- Dover Corporation reported a positive start to 2025, showcasing a promising first quarter with notable financial performance.
- The company’s adjusted earnings per share rose by 19% compared to the previous year, and the adjusted EBITDA margin improved by 240 basis points to reach 24%.
- These results were achieved through a healthy mix of growth platforms, structural cost actions from prior periods, and successful pricing strategies.
Monthly Air Cargo Tracker | Even Before US Tariff Chaos, Conditions Had Turned Weaker (May 2025)
- Even before US tariff and de minimis changes, Asian air cargo conditions had turned weaker
- Carrier load factors were up seasonally in March, but down Y/Y, and remain quite low
- Data from Taiwanese carriers suggests shift away from Transpacific to short-haul routes
Greaves Cotton Q4 FY25 Update: Diversification Strategy Drives Strong Performance & Profitability
- Greaves Cotton (GRV IN) reported impressive Q4 and FY25 results, marking a 93% YoY increase in EBITDA and strong revenue growth across key sectors, especially electric mobility.
- The company’s transformation through diversification into high-margin segments, including EVs and non-auto applications, has improved profitability, solidifying its position for long-term growth.
- With strong leadership, technological advancements, and a clear 2030 growth vision, Greaves Cotton is well-poised to thrive in emerging markets, especially EV and CNG segments.
Textron Inc.: Aviation Aftermarket Strategy To Strengthen Client Relationships & Bolster Profitability!
- Textron’s Q1 2025 earnings report indicates a mixed performance with areas of strength and challenges.
- The company’s overall revenues increased by 5% to $3.3 billion, led notably by Bell, while segment profit decreased by $10 million from the prior year to $280 million.
- Adjusted income from continuing operations rose marginally to $1.28 per share, up from $1.20 the previous year, although the manufacturing cash flow saw a substantial use of $158 million compared to $81 million last year.
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