External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>In the apparel OEM sector, tariff concerns had generated uncertainty around 3Q25 earnings, but overall results came in better than feared.</li><li>At Youngone Corp. (Youngone), ASP declined due to the impact of tariffs, but sharp volume growth (USD-based order value: +11% YoY) drove earnings improvement (OEM division’s OP margin: 23.6%).</li><li>Notably, Youngone has seen surging orders from Arc’teryx, whose share of total orders is anticipated to surpass 10% this year—just two years after it was added as a customer. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In the apparel OEM sector, tariff concerns had generated uncertainty around 3Q25 earnings, but overall results came in better than feared.At Youngone Corp. (Youngone), ASP declined due to the impact of tariffs, but sharp volume growth (USD-based order value: +11% YoY) drove earnings improvement (OEM division’s OP margin: 23.6%).Notably, Youngone has seen surging orders from Arc’teryx, whose share of total orders is anticipated to surpass 10% this year—just two years after it was added as a customer. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Youngone Corp. (111770 KS/Buy)Strength of Key Customers Stands Out