Daily Brief Industrials: RPMGlobal Holdings Limited, Global Tax Free, Hyundai Glovis, Spindex Industries, Sichuan Yingfa Ruineng Technology, SharkNinja , Sky Harbour Group , Manpowergroup Inc, BQE Water , Grupo Aeromexico and more

• RPMGlobal Holdings Limited (RUL AU), a mining software technology provider, has entered into a trading halt ahead of a rumoured tilt from Caterpillar Inc (CAT US).
• No price has been made public; although local media are reporting an Offer Price of $5/share, a 32.6% premium to undisturbed. 
• Shares will be suspended until the 2nd September. Earlier this year, RPMGlobal transitioned to  a pure-play software company after offloading its advisory division.

Key points (machine generated)

• Global Tax Free Co (GTF) holds a 70% market share in South Korea and 25% in Singapore for VAT refund services.
• The company is recovering from a failed acquisition due to fraud and aims to expand into Japan and Thailand in the next 18 months.
• Founded in 2005 and acquired by a SPAC in 2017, Chairman Mr. Moon Yang-Geun owns an 18.7% stake in GTF.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• A major critical reason Hyundai Glovis has been outperforming this year has been due to the potential passage of the cumulative voting system under second amendment to the Commercial Act.
• In addition, Hyundai Glovis’ profits have been improving. Hyundai Glovis is also expected to benefit from the continued higher use of robotics in its operations.
• The value of its Boston Dynamics is also becoming more highlighted. Hyundai Glovis currently has a 10.9% stake in Boston Dynamics. 

• Results are steady. Revenues are flat with gross profit marginally down.
• There are 2 exceptions : S $5.5 mn impairment on PPE at Nantong due to economic slowdown and fx loss of US $5.5 mn
• Declares 2 cents dividend, ROE of 10% on Balance Sheet which has 30% excess cash and Book Value of Cash S$ 1.46

• Sichuan Yingfa Ruineng Technology (SYRT HK)  is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by China Securities (International) and Huatai International.
• Sichuan Yingfa Ruineng Technology. (SYRT) is a specialized manufacturer of photovoltaic (PV) cells, focusing on research, development, manufacturing, and direct sales. It operates four production bases across China and overseas.
• China accounts for 89.3% of sales in FY24, with the rest coming from India, Vietnam, and the US. It is supported by 161 granted patents in China.

• SharkNinja’s second quarter 2025 financial performance highlights both its strengths and challenges within a globally turbulent environment.
• The company reported a 15.7% increase year-over-year in net sales, reaching $1.4 billion.
• This top-line growth was accompanied by a significant 33% rise in adjusted EBITDA, which reached $223 million, underscoring the company’s ability to improve profitability through efficient cost management and operational execution.

Key points (machine generated)

• Concerns are raised about conflating SKYH’s business potential with its stock valuation, particularly regarding hangar developments.
• Critics argue that bullish projections are unrealistic, overlooking significant development costs and potential dilution.
• The current low cap rate of around 2% may not be sustainable, with immediate equity raising needs impacting stock valuation.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• ManpowerGroup’s second quarter 2025 financial performance presents a complex picture, emphasizing both resilience and challenges faced by the company.
• Revenue for the second quarter was reported at $4.5 billion, marking a 3% year-over-year decline in constant currency.
• Total system-wide revenue, which includes franchise revenues, was somewhat higher at $4.9 billion.

• What you need to know: • BQE reported Q2 financial results yesterday that massively beat our estimates due to continued growth in the technical services segment.
• • Q2 proportional revenue came in at $12.9M (+112% YoY), beating our estimate of $7.2M.
• Adjusted EBITDA was $2.5M (19% margin, +85% YoY) compared to our estimate of $2.2M (30% margin).

• In 2022 the company emerged from Bankruptcy, delisted from the Mexican Stock Exchange, and Apollo became one of the largest shareholders through its financing and debt-to-equity conversions.
• They are the leading airline at MEX, the largest airport in Mexico, which is capacity constrained, and accounted for 36.3% of total passengers flying within, to and from Mexico.
• Their total revenue was $2.69 billion and $2.50 billion and their net income was $346.7 million and $90.0 million in the first half of 2024 and 2025, respectively.