In today’s briefing:
- Last Week in Event SPACE: Kyocera, WH Group/Smithfield, CNBM, Japan Eyewear, Core Concept Tech
- (Mostly) Asia-Pac M&A: Shibaura, Tecnos, Insignia Fin., Fosun Tourism, Fuji Soft, Shin Kong/Taishin
- Tech Supply Chain Tracker (09-Feb-2025): TSMC tightens restrictions on Chinese IC firms.
- Sify Technologies – Exploring INR3,000 Crore Data Center IPO
- Spotify’s First Truly Profitable Year Was Great! But Will It Be EVEN MORE Profitable With The Expansion of Subscription Tiers & Monetization Of Video Content?
- Snap Inc.: Can Its Subscription Business Expansion Strategy Supercharge Growth?
- Match Group: Will the AI Integration Provide A Much-Needed Boost Its Share In The Growing Online Dating Market?
- Fox Corporation: Growth of Tubi Streaming As A Substantial Growth Driver!
- EQD | Kospi Index Options Weekly (February 03 – 07): Implied Vol Does a Roundtrip
- Electronic Arts’ (EA) Plans to Capitalize on the Next Gaming Boom – The Live-Service Shift That Could Change the Industry Forever!
Last Week in Event SPACE: Kyocera, WH Group/Smithfield, CNBM, Japan Eyewear, Core Concept Tech
- You could label Kyocera Corp (6971 JP)“BULLISH” because the stock goes up rather than down; but you could easily label this BEARISH because the prospects aren’t exciting.
- WH Group (288 HK)spins off Smithfield Foods (SFD US) – below the prior expected price range. Pricing looks full here.
- As China National Building Material (3323 HK)‘s Partial Offer heads towards the pointy end, do you buy, and/or borrow, and tender; short outright; or short tender?
(Mostly) Asia-Pac M&A: Shibaura, Tecnos, Insignia Fin., Fosun Tourism, Fuji Soft, Shin Kong/Taishin
- I tally 61 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma.
- Six new deals! Australia’s SelfWealth (SWF AU), and Japan’s Shibaura Electronics (6957 JP), Tohto Suisan (8038 JP), Tecnos Japan (3666 JP), Proto (4298 JP), & Toyo Sugar Refining (2107 JP).
- Key updates/news took place on: Insignia Financial (IFL AU) , Fosun Tourism (1992 HK) , Fuji Soft (9749 JP), Suntec REIT (SUN SP), and Shin Kong (2888 TT)/Taishin (2887 TT).
Tech Supply Chain Tracker (09-Feb-2025): TSMC tightens restrictions on Chinese IC firms.
- TSMC implements restrictions on Chinese IC firms to follow US semiconductor controls, limiting access to advanced chip technologies.
- Estonian defense delegation seeks collaboration with Taiwan on drones, highlighting growing partnership between the two countries.
- ASE faces leadership uncertainty after chairman’s heir tragically passes away, impacting the future direction of the semiconductor giant.
Sify Technologies – Exploring INR3,000 Crore Data Center IPO
- Sify Technologies Ltd is planning to tap into the burgeoning demand for data centers in the India via a INR3,000 crore IPO
- Sify has aggressive expansion plans in place with the aim to triple its data center capacity to more than 350 MW in the coming years.
- We expect the value of standalone data center business to be more than the current market cap of Sify. In our view, IPO will unlock value for existing Sify shareholders.
Spotify’s First Truly Profitable Year Was Great! But Will It Be EVEN MORE Profitable With The Expansion of Subscription Tiers & Monetization Of Video Content?
- Spotify Technology S.A., a leading global audio streaming service, reported a strong conclusion to its fiscal year 2024, highlighted by record metrics across multiple fronts.
- The company achieved its highest-ever fourth-quarter addition of Monthly Active Users (MAUs) and a substantial increase in premium subscribers, reflecting positively on its growth strategies and customer engagement efforts.
- Positives from the performance include the notable growth in Spotify’s MAUs, adding 35 million users to reach 675 million, alongside 11 million new subscribers bringing the total to 263 million.
Snap Inc.: Can Its Subscription Business Expansion Strategy Supercharge Growth?
- Snap Inc.’s fourth-quarter 2024 earnings present a mixed bag for investors, showcasing both resilient growth and areas of concern.
- On the positive side, the company reported an increase in daily active users (DAUs), reaching 453 million globally, an increase of 39 million year-over-year.
- This user growth implies an expanding reach which could benefit long-term engagement and monetization strategies.
Match Group: Will the AI Integration Provide A Much-Needed Boost Its Share In The Growing Online Dating Market?
- Match Group recently reported their Fourth Quarter 2024 Earnings, shedding light on financial performance and strategic directions.
- The company reported revenues of $3.5 billion for 2024, reflecting a 3% increase year-over year, or 6% on an FX-neutral basis.
- Despite facing lower revenue growth than initially anticipated, Match Group succeeded in meeting their Adjusted Operating Income (AOI) margin target of 36%, indicating strong cost management practices.
Fox Corporation: Growth of Tubi Streaming As A Substantial Growth Driver!
- Fox Corporation recently announced its second-quarter fiscal 2025 earnings, showcasing significant growth across multiple fronts but also highlighting areas of concern for future investor considerations.
- The company reported a record quarterly EBITDA of $781 million, representing a 123% increase from the previous year, alongside a 20% revenue growth reaching over $5 billion.
- This promising financial performance was primarily driven by robust advertising and affiliate revenue growth, political advertising, strength in FOX News ratings, and impressive sports viewership.
EQD | Kospi Index Options Weekly (February 03 – 07): Implied Vol Does a Roundtrip
- Implied vols rose 2.22 points in Monday’s sell off but round-tripped on the week, giving all the gains back by Friday.
- Rough start to the week amid tariff talk, Kospi dropping 2.64%.
- At this level we expect implied vol to remain more reactive to price shocks than we have seen over the past two months.
Electronic Arts’ (EA) Plans to Capitalize on the Next Gaming Boom – The Live-Service Shift That Could Change the Industry Forever!
- Electronic Arts Inc. (EA) had a mixed third-quarter fiscal 2025 performance, which presented both challenges and positive developments.
- On the downside, the company faced a financial performance below expectations, notably with its key franchises.
- The newly launched “Dragon Age: The Veilguard,” despite being well-received critically, did not perform as expected due to the competitive nature of the single-player RPG market.
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