HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Mokingran Jewellery Group Ltd / Equity Capital Markets

Mokingran Jewellery Group Ltd (1863481D CH)

<ul>
<li>The skyrocketing gold prices have driven up the prices of gold jewelry, but actually dampen the enthusiasm of many people to buy gold jewelry, which will directly affect MOKINGRAN's performance.</li>
<li>MOKINGRAN's prediction of gold price is incorrect. For an industry veteran, MOKINGRAN shouldn’t make such mistakes. The error in the judgment of important raw material trends is worth investors' vigilance.</li>
<li>We think that valuation of MOKINGRAN should be lower than that of <a href="https://www.smartkarma.com/entities/lao-feng-xiang-co-ltd" target="_blank" data-smartkarma-citation="entities:29910:1" rel="noopener">Lao Feng Xiang (600612 CH)</a>/<a href="https://www.smartkarma.com/entities/chow-tai-seng-jewellery-co-ltd" target="_blank" data-smartkarma-citation="entities:29414:1" rel="noopener">Chow Tai Seng Jewellery (002867 CH)</a>/<a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> and industry average.</li>
</ul>


The skyrocketing gold prices have driven up the prices of gold jewelry, but actually dampen the enthusiasm of many people to buy gold jewelry, which will directly affect MOKINGRAN's performance.
MOKINGRAN's prediction of gold price is incorrect. For an industry veteran, MOKINGRAN shouldn’t make such mistakes. The error in the judgment of important raw material trends is worth investors' vigilance.
We think that valuation of MOKINGRAN should be lower than that of Lao Feng Xiang (600612 CH)/Chow Tai Seng Jewellery (002867 CH)/Chow Tai Fook Jewellery (1929 HK) and industry average.


Pre-IPO Mokingran Jewellery Group (PHIP Updates) - Some Points Worth the Attention

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

Gold Flora Corporation operates as a cannabis company. The Company focuses on cultivation, manufacturing, distribution, and retail of flowers, disposable vape pens, and other related products. Gold Flora serves customers throughout the State of California.

<ul><li>Gold Flora Corporation (Gold Flora) is a leading vertically integrated California cannabis company.</li><li>The company has high-quality assets downstream and across the supply chain. Vertical integration enhances margins and is a key ingredient for winning in California.</li><li>Gold Flora reported 3Q24 results, with revenue of $32.6 million. </li></ul>

Gold Flora Corporation (Gold Flora) is a leading vertically integrated California cannabis company.The company has high-quality assets downstream and across the supply chain. Vertical integration enhances margins and is a key ingredient for winning in California.Gold Flora reported 3Q24 results, with revenue of $32.6 million. 

Gold Flora Corporation: Strong Margin Improvements Drive Adjusted EBITDA Beat

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Alamos Gold Inc. is a Canadian-based gold producer operating three mines in North America. The Company explores and produces gold from mines. Alamos Gold operates portfolio of development stage projects in Canada, Mexico, Turkey, and the United States.

<ul><li>Alamos Gold Inc.'s third-quarter 2024 earnings presented a comprehensive review of the company's operational and financial performance following its recent acquisition of the Magino mine from Argonaut Gold.</li><li>This acquisition has significantly shaped the latest results, which reflect a mixed bag of outcomes from this transitional phase.</li><li>The third quarter marked a record production milestone for Alamos, with 152,000 ounces of gold produced.</li></ul>

Alamos Gold Inc.'s third-quarter 2024 earnings presented a comprehensive review of the company's operational and financial performance following its recent acquisition of the Magino mine from Argonaut Gold.This acquisition has significantly shaped the latest results, which reflect a mixed bag of outcomes from this transitional phase.The third quarter marked a record production milestone for Alamos, with 152,000 ounces of gold produced.

Alamos Gold Inc.: PDA Project & Mulatos District Expansion Driving Our Optimism! - Major Drivers

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>Gold prices have staged multi-year breakouts in multiple currencies, indicating a long-term bullish outlook.</li>
<li>In addition, gold is on the verge of staging relative breakouts against global equity markets that point to multi-year outperformance ahead.</li>
<li>The U.S. macro outlook calls for a re-acceleration of inflation, which is also positive for gold.</li>
</ul>


Gold prices have staged multi-year breakouts in multiple currencies, indicating a long-term bullish outlook.
In addition, gold is on the verge of staging relative breakouts against global equity markets that point to multi-year outperformance ahead.
The U.S. macro outlook calls for a re-acceleration of inflation, which is also positive for gold.


External broker reports(aggregated public sources), Euroz Limited

Euroz Hartleys

External broker reports(aggregated public sources)

Euroz Limited

A Western Australian diversified financial services company focused on providing financial services solutions to Institutional, Corporate & Private Clients. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Turaco Gold Limited provides exploration and mining services. The Company explores and develops gold projects. Turaco Gold serves customers worldwide.

<ul><li>Maiden drilling along the Niamienlessa Trend highlights new shallow gold mineralisation, part of the Afema Project.</li><li>Three drill rigs now active at Afema, targeting mineralised extensions for resource growth.</li><li>TCG recently completed a A$35m equity placement, for a healthy cash position A$48m to fund ongoing exploration and early development studies.</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>

Maiden drilling along the Niamienlessa Trend highlights new shallow gold mineralisation, part of the Afema Project.Three drill rigs now active at Afema, targeting mineralised extensions for resource growth.TCG recently completed a A$35m equity placement, for a healthy cash position A$48m to fund ongoing exploration and early development studies.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.

Turaco Gold Limited - New Discovery Along Niamienlessa Trend

Gold
Midas Touch

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​Skyrocketing gold prices dampen enthusiasm for gold jewelry, impacting MOKINGRAN's performance. Incorrect gold price prediction raises investor...

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The company has high-quality assets downstream and across the supply chain. Vertical integration enhances margins and is a key ingredient for...

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Gold prices have staged multi-year breakouts in multiple currencies, indicating a long-term bullish outlook. It's also on the verge of staging...

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TCG recently completed a A$35m equity placement, for a healthy cash position A$48m to fund ongoing exploration and early development studies.

Euroz Hartleys

Skyrocketing gold prices dampen enthusiasm for gold jewelry, impacting MOKINGRAN's performance. Incorrect gold price prediction raises investor...