In today’s briefing:
- Dowoo Insys IPO Book Building Results Analysis
- Korea Small Cap Gem #39: Messe ESANG
- Yangtuo Technology Inc. Pre-IPO Tearsheet
- Megatronix Inc. Pre-IPO Tearsheet
- Usen-Next Holdings Co Ltd (9418 JP): Q3 FY08/25 flash update
- Windar Photonics PLC – Friday Take Away: 4 July 2025
- How Is Palantir Technologies Capitalizing On Expanding Use Cases for AI Platforms Across Diverse Sectors!
- Neos Corp (3627 JP): Q1 FY02/26 flash update
- AKA: 2H Signposts: The Ignored Growth Story; Reiterate Buy Rating and $30 PT
- Reconova Technologies Co., Ltd. Pre-IPO Tearsheet
Dowoo Insys IPO Book Building Results Analysis
- Dowooinsys (484120 KS) announced that it has confirmed its IPO price at 32,000 won, which is at the high end of the IPO price range.
- The demand ratio among the institutional investors was 785.4 to 1 with a total of 2,180 domestic and foreign institutions participating.
- Our base case valuation of Dowoo Insys is target price of 40,667 won per share, which is 27% higher than the IPO price (32,000 won).
Korea Small Cap Gem #39: Messe ESANG
- We have found another gem in the Korean small cap industry. Messe ESANG is #39 in our Korea Small Cap Gem Series.
- Messe ESANG (408920 KS) is the number one player in South Korea’s exhibition and convention industry.
- The company has a combination of strong sales growth, excellent operating margins, improving ROE, sound balance sheet, and cheap valuations.
Yangtuo Technology Inc. Pre-IPO Tearsheet
- Yangtuo Technology Inc. (YT) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by Citic.
- The company is a leading commerce and service platform in China, specializing in family care and nutrition products.
- YT was the largest commerce and service platform serving businesses in China’s family care and nutrition product industry in lower-tier markets in terms of GMV in 2024 (Frost & Sullivan).
Megatronix Inc. Pre-IPO Tearsheet
- Megatronix Inc. (MI) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by Citi, CICC, and DB.
- MI is a leading, innovation-driven automotive technology company. MI focuses on developing and delivering AI-powered integrated domain control solutions that enable automakers to build the next generation of software-defined vehicles.
- It derives revenue primarily from sales of integrated domain control solutions, calculated based on the number of integrated smart domain controllers embedded with its solutions that are delivered to OEMs.
Usen-Next Holdings Co Ltd (9418 JP): Q3 FY08/25 flash update
- Cumulative Q3 FY08/25 revenue rose 20.3% YoY, with operating profit up 2.9% YoY; no full-year forecast revision.
- Segment revenue progress rates: Content Distribution 77.8%, Store & Facility Solutions 78.6%, Communications & Energy 79.4%, Finance 92.0%.
- Full-year FY08/25 forecast: Revenue JPY360.0bn (+10.2% YoY), operating profit JPY31.0bn (+6.5% YoY), dividend JPY14.0/share.
Windar Photonics PLC – Friday Take Away: 4 July 2025
- 4th July 2025 Alphabetically arranged Share prices and market capitalisations taken from Alpha Terminal from the current price on the day of publication.
- Top three shareholders are taken from the websites of the companies that we are writing about, unless there is a more up to date TR-1 notification RNS announcement.
- Cautious expectations may prove the best policy for growth in the longer term ALT University Challenge WPHO Revenue Tacking Altitude Group 24.5p £17.9m (ALT.L) Financial Calendar: Year End March, Results are expected to be reported on 29 July, Interims to September, to be reported by end of December Top Three Shareholders: Mr. Simon Taylor 14.00%, Mr. Martin Varley (Director) 12.95%, Mr. Keith Wills 9.22% Key Investment Points: Scalable growth, Attractive University niche, Improved Operational Gearing The end-to-end solutions provider of branded merchandise to the promotions industry is expected to report Finals to March on 29 July.
How Is Palantir Technologies Capitalizing On Expanding Use Cases for AI Platforms Across Diverse Sectors!
- Palantir Technologies recently reported an exceptionally robust third quarter for 2024, emphasizing the role of AI in its growth narrative.
- The company’s revenue surged by 30% year-over-year, fueled primarily by its U.S. operations, where government and commercial sectors grew by 40% and 54%, respectively.On the positive side, Palantir achieved significant traction in both government and commercial sectors largely due to its prowess in deploying artificial intelligence (AI) solutions.
- In the U.S. government sector, Palantir has significantly extended its capabilities, as highlighted by its success in enhancing targeting and operational efficiency for the Department of Defense (DoD) and other military branches.
Neos Corp (3627 JP): Q1 FY02/26 flash update
- In Q1 FY02/26, TECMIRA recorded revenue of JPY2.7bn (-4.3% YoY) and operating profit of JPY86mn.
- IoT & Devices segment revenue increased 30.1% YoY, while Life Design segment revenue declined 43.6% YoY.
- Adjusted EBITDA declined 76.4% YoY to JPY60mn, largely due to the absence of new game releases.
AKA: 2H Signposts: The Ignored Growth Story; Reiterate Buy Rating and $30 PT
- We are reiterating our Buy rating, $30 price target and projections for a.k.a. Brands as we look at key trends for 2HFY25 and beyond.
- We believe, perhaps due to tariff worries or limited trading volume or unfamiliarity with the company’s brands, investors are missing what is emerging as one of the few organic (and, in our view, compelling) growth stories in specialty apparel retailing.
- a.k.a. Brands management has, via the launch of Princess Polly retail locations, material wholesale expansion for both the Petal & Pup and Princess Polly brands, a renaissance at Culture Kings with an emphasis on the “test and repeat” model and a return to economic growth in the material Australian market, positioned a.k.a. Brands for material top line growth (and upside) and the potential to capture material operating leverage; we view these catalysts as significant multi-year drivers.
Reconova Technologies Co., Ltd. Pre-IPO Tearsheet
- Reconova Technologies Co., Ltd. (RT) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by CCBI, Huatai, and ABCI.
- RT is an AI company that provides visual AI technologies and products for enterprise clients.
- RT is one of the first companies in the industry dedicated to full-stack visual AI technologies of computer vision algorithm, optical imaging optimisation, and computing power optimisation.
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