In today’s briefing:
- TOPIX Index Upweights: Great Hit Rate; Strong Trade Performance; A Rare Win!
- Hanwha Aerospace – Lowers Rights Offering Capital Raise Amount To 2.3 Trillion Won
- Jiangsu Zenergy Battery Tech IPO: Forecasts and Valuation
- FuelCell Energy: An Insight into Its Partnership with Diversified Energy & TESIAC & Key Growth Levers!
- Atkore’s Import Defense Plan Could Protect Margins — A Smart BUY Opportunity?
- Intuitive Machines: Here’s How Reddit’s Favorite Stock Is Expanding Lunar Delivery Services & Capitalizing On Government & National Security Collaborations!
- BWX Technologies Powers Ahead with Revolutionary Reactor Development Breakthroughs!
TOPIX Index Upweights: Great Hit Rate; Strong Trade Performance; A Rare Win!
- In the TOPIX Index, some “low liquidity” names carry a liquidity factor of 0.75x resulting in their actual index weights being smaller than their default weights.
- These names are reviewed every April and if the liquidity factor of a stock gets removed, the stock will see index inflows from passive trackers of TOPIX.
- The results for April 2025 liquidity factor removal have been confirmed and we achieved very high hit rates for our High and Medium conviction baskets.
Hanwha Aerospace – Lowers Rights Offering Capital Raise Amount To 2.3 Trillion Won
- On 8 April, Hanwha Aerospace (012450 KS) announced that it plans to lower its rights offering capital raise amount from 3.6 trillion won to 2.3 trillion won (US$1.6 billion).
- The remaining 1.3 trillion won will be secured through a third-party allocation paid-in capital increase targeting three companies, including Hanwha Energy, Hanwha Impact Partners, and Hanwha Energy Singapore.
- Hanwha Aerospace disclosed today that it expects sales of 30 trillion won (58% higher than consensus) and operating profit of 3 trillion won (20% higher than consensus) in 2025.
Jiangsu Zenergy Battery Tech IPO: Forecasts and Valuation
- Jiangsu Zenergy Battery Technologies (JSZENERGY CH) has announced the terms for its IPO. The company plans to issue 121.5m shares at HK$8.27 per share, raising HK$1.0bn (US$130m).
- The company’s earnings have seen strong growth during the last 3-4 years driven by its LFP battery products and fall in lithium carbonate prices have helped turn around profitability.
- However, our analysis on the company’s valuation shows that JZBT’s IPO is expensive and with the ongoing geopolitical tensions, we would remain on the sidelines.
FuelCell Energy: An Insight into Its Partnership with Diversified Energy & TESIAC & Key Growth Levers!
- FuelCell Energy provides a consolidated update for its first fiscal quarter of 2025, which showcases both achievements and ongoing challenges.
- The company reported revenues of $19 million for the quarter, marking an increase from $16.7 million in the corresponding period of the previous year.
- Despite the revenue boost, FuelCell Energy incurred a net loss attributable to common stockholders of $29.1 million, translating to a loss per share of $1.42, a slight increase from the $1.37 per share loss in the first quarter of fiscal 2024.
Atkore’s Import Defense Plan Could Protect Margins — A Smart BUY Opportunity?
- Atkore International Group’s first quarter fiscal year 2025 results were broadly aligned with expectations, but there are notable challenges and developments within the company that are influencing its forward-looking guidance.
- The company reported net sales of $662 million and adjusted EBITDA of $99 million, both within the anticipated range.
- Adjusted EPS was also near the high end of the forecast at $1.63, despite a 5% decline in organic volume compared to a strong prior-year quarter.
Intuitive Machines: Here’s How Reddit’s Favorite Stock Is Expanding Lunar Delivery Services & Capitalizing On Government & National Security Collaborations!
- Intuitive Machines captures attention as it reported record revenue and cash flows in strong Q4 and full-year financials for 2024.
- The space exploration company, which became publicly traded just two years ago, showcased technical capabilities and achievements.
- However, there are aspects to weigh when evaluating an investment in Intuitive Machines.
BWX Technologies Powers Ahead with Revolutionary Reactor Development Breakthroughs!
- BWX Technologies, Inc. recorded a strong performance for its fourth quarter and full year 2024, with earnings exceeding initial projections and a significant backlog increase.
- The company achieved records in several financial metrics, including revenue, adjusted EBITDA, adjusted earnings per share, and free cash flow.
- The strategic focus on nuclear technology across various sectors, including national security, clean energy, and medicine, positioned BWX Technologies to harness growing market demand.
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