Daily Brief TMT/Internet: Shanghai Biren Intelligent Technology, Doosan Robotics , Factset Research Systems Inc, Accenture Plc Cl A, Paychex Inc, Micron Technology, Quest Co Ltd, Sun Wa Technos, True Data and more

• Shanghai Biren Intelligent Technology, a GPGPU chips and computing solutions provider, aims to raise up to US$624m in its Hong Kong listing.
• According to CIC, Biren was the first company in China to package dual AI computing dies using 2.5D chiplet technology and the first to support advanced interconnection specifications.
• We have looked at the company’s past performance in our previous note. In this note, we talk about valuations.

• On 23 December, Doosan Corp (000150 KS) announced that it plans to sell an 18.05% stake (11.7 million shares) in Doosan Robotics (454910 KS) for 948 billion won.
• It appears that the main purpose of sale is to secure adequate capital for Doosan Corp to acquire SK Siltron which is up for sale.
• SK Siltron’s corporate value is estimated at around 5 trillion won, so the transaction size for the 70.6% stake up for sale is expected to 3-4 trillion won+.

• Biren Technology, a Shanghai-based developer of GPGPU chips and GPGPU-based intelligent computing solutions, is expected to price the offering next week.
• The company’s Global Offering puts the initial price range per share at HK$17.00 to HK$19.60, implying a market cap of ~HK$44.6B or ~$5.7B at midpoint on a fully diluted basis.   
• After enjoying years of technological and market share dominance in the GPU space in China, NVIDIA faces growing competition from “four little dragons” – MetaX, Moore Threads, Biren and Enflame.

• FactSet Research Systems Inc. reported its first-quarter results for fiscal 2026, highlighting some key financial and operational metrics.
• The company demonstrated positive momentum with strong growth in Annual Subscription Value (ASV), along with healthy operating margins.
• However, there were some notable challenges across regions and firm types which provide a comprehensive view of the company’s current situation.

• Accenture’s recent earnings call for the first fiscal quarter of 2026 highlights a mix of growth opportunities and challenges.
• The company reported revenues of $18.7 billion, representing a 5% increase in local currency, which aligns with the top of its guided range.
• This growth was broad-based across geographic markets and types of work, with consulting revenues at $9.4 billion and managed services revenues at $9.3 billion.

• Paychex, Inc. presented a quarter where reported growth was meaningfully supported by the Paycor acquisition and by operating discipline, while several underlying demand signals pointed to a more cost sensitive customer environment.
• Management emphasized progress on integration execution, citing cost synergy expectations lifted to approximately $100 million for fiscal 2026 versus an earlier $80 million target, alongside revenue synergy progress and solid client retention in the acquired base.
• In the Q and A, the company indicated that, on its internal pro forma view, Paycor grew roughly 8 percent to 9 percent, with results influenced by the acquired business’s seasonality around year end processing fees and by the practical limits of isolating Paycor after integration into the broader enterprise segment.

• Micron Technology’s recent earnings call for the fiscal first quarter of 2026 highlighted several key points that investors should consider.
• The company’s performance showcases both opportunities and challenges across various segments of their business.
• A neutral analysis of their results offers insights into their strategic positioning and future outlook.

Key points (machine generated)

• Quest <2332> is a Tokyo Stock Exchange-listed company specializing in IT infrastructure and system development across multiple industries.
• The company prioritizes technology, creativity, and information security, holding ISMS certification and a Privacy Mark.
• As of December 23, 2025, Quest anticipates increased revenue and profit, aligning with its mid-term growth plans.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Key points (machine generated)

• Sunwa Technos aims for an operating profit exceeding 8 billion yen by March 2028 through three strategic initiatives.
• In the first half of the fiscal year ending March 2026, the company experienced a 0.1% decline in sales to 69.38 billion yen and an 11.2% decrease in operating profit to 1.464 billion yen.
• The company operates 30 domestic and 40 international locations, serving over 3,100 customers with a unique ‘two-way transactions’ model.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.

Key points (machine generated)

• True Data, listed on the Tokyo Stock Exchange under ticker 4416, reported increased revenue and profit for the interim period of fiscal year ending March 2026.
• The company specializes in a big data platform that analyzes consumer purchasing behaviors, utilizing data like POS and ID-POS.
• For the fiscal year ending March 2025, True Data processed approximately 5.5 trillion yen in consumer purchasing data and had around 60 million annual active users.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only.