External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>Global auto parts company Magna's value has declined this year despite investments in industry megatrends like EVs</li><li>The company has become a leader in areas like battery enclosures, but investors have not fully appreciated these investments</li><li>Magna is expected to see increased profitability in 2025 as its investments in EVs, Active Safety, and Battery Enclosures start to pay off, with these segments projected to grow significantly by 2027</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Global auto parts company Magna's value has declined this year despite investments in industry megatrends like EVsThe company has become a leader in areas like battery enclosures, but investors have not fully appreciated these investmentsMagna is expected to see increased profitability in 2025 as its investments in EVs, Active Safety, and Battery Enclosures start to pay off, with these segments projected to grow significantly by 2027This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Magna International Inc (MGA) - Monday, Jul 29, 2024

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>India is limiting Chinese participation in Indian subsidiaries while seeking investments from Taiwan, diversifying its economic ties.</li><li>AWS is committing significant funds to establish data centers in Taiwan, anticipating obstacles in securing renewable energy sources.</li><li>Elephantech is seeking collaborators to scale up their eco-friendly PCB manufacturing operations to meet the escalating demand. Join the sustainable production movement.</li></ul>

India is limiting Chinese participation in Indian subsidiaries while seeking investments from Taiwan, diversifying its economic ties.AWS is committing significant funds to establish data centers in Taiwan, anticipating obstacles in securing renewable energy sources.Elephantech is seeking collaborators to scale up their eco-friendly PCB manufacturing operations to meet the escalating demand. Join the sustainable production movement.

Tech Supply Chain Tracker (14-Jun-2024): India limits Chinese participation, woos Taiwanese investments.

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back in 2014, Hahn &amp; Co and <a href="https://www.smartkarma.com/entities/hankook-tire-technology" target="_blank" data-smartkarma-citation="entities:20031:1" rel="noopener">Hankook Tire (161390 KS)</a> acquired a 70% stake in <a href="https://www.smartkarma.com/entities/hanon-systems" target="_blank" data-smartkarma-citation="entities:11506:1" rel="noopener">Hanon Systems (018880 KS)</a> from <a href="https://www.smartkarma.com/entities/visteon-corp" target="_blank" data-smartkarma-citation="entities:5471:1" rel="noopener">Visteon (VC US)</a>, an automotive electronics supplier, for ₩3.8tn.</li>
<li>Three years ago, Hahn/Hankook explored the sale of this 70% stake, which was expected to fetch ~₩8tn (US$7bn). Reportedly, Carlyle, TPG, Bain and auto supplier Mahle submitted preliminary bids.</li>
<li>That 70% stake is now worth ₩2.3tn. And reportedly, Carlyle has returned to the trough. </li>
</ul>


Back in 2014, Hahn &amp; Co and Hankook Tire (161390 KS) acquired a 70% stake in Hanon Systems (018880 KS) from Visteon (VC US), an automotive electronics supplier, for ₩3.8tn.
Three years ago, Hahn/Hankook explored the sale of this 70% stake, which was expected to fetch ~₩8tn (US$7bn). Reportedly, Carlyle, TPG, Bain and auto supplier Mahle submitted preliminary bids.
That 70% stake is now worth ₩2.3tn. And reportedly, Carlyle has returned to the trough. 


On A Charge: Hanon Systems & Renewed Interest In Hahn/Hankook's Stake

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>Mobileye Global (MBLY US) is getting ready to complete its IPO next week. The IPO price range is between $18 and $20 per share.</li>
<li>Our base case valuation of Mobileye is implied market cap of $15.2 billion or $19 per share, which is within the IPO price range. </li>
<li>Given the low upside in our target price relative to the IPO price range, we have a Negative view of this IPO.</li>
</ul>


Mobileye Global (MBLY US) is getting ready to complete its IPO next week. The IPO price range is between $18 and $20 per share.
Our base case valuation of Mobileye is implied market cap of $15.2 billion or $19 per share, which is within the IPO price range. 
Given the low upside in our target price relative to the IPO price range, we have a Negative view of this IPO.


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Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Thematic (Sector/Industry)

<h2>Headline Developments</h2>Another bad week for Didi (DIDI) , with the stock plummeting a further 21% after Bloomberg reported that Chinese regulators were weighing up “serious, perhaps unprecedented penalties” which may include a hefty fine (&gt;$2.8b), enforcing a state-owned investment or delisting the company from the NYSE.

Headline DevelopmentsAnother bad week for Didi (DIDI) , with the stock plummeting a further 21% after Bloomberg reported that Chinese regulators were weighing up “serious, perhaps unprecedented penalties” which may include a hefty fine (&gt;$2.8b), enforcing a state-owned investment or delisting the company from the NYSE.

Canada

Magna International Inc. retails auto parts. The Company offers body exteriors, chassis structures, transmissions, lighting, seating, and fuel systems. Magna International serves customers worldwide.

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Magna International (MGA US)

Magna International Inc (MGA) - Monday, Jul 29, 2024

The company has become a leader in areas like battery enclosures, but investors have not fully appreciated these investments

Value Investors Club

Tech Supply Chain Tracker (14-Jun-2024): India limits Chinese participation, woos Taiwanese investments.

India is pushing for restrictions on Chinese involvement, Taiwan is attracting investments, AWS is investing in Taiwan data centers, Elephantech...

Tech Supply Chain Tracker

On A Charge: Hanon Systems & Renewed Interest In Hahn/Hankook's Stake

There is currently no firm Offer. It's doubtful Hahn/Hankook will sell at these levels. Hanon appears inexpensive here, with a solid backlog and...

David Blennerhassett

Mobileye Global IPO Valuation Analysis

Our base case valuation of Mobileye is implied market cap of $15.2 billion or $19 per share, which is within the IPO price range. We have a...

Douglas Kim

Weekly Innovation Review (WIRE) #42

Headline Developments: Another bad week for Didi (DIDI) , with the stock plummeting a further 21% after Bloomberg reported that Chinese regulators...

Granite Bay Capital

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