Smartkarma Daily Briefs

• China announced game approval for the May batch. The number of games approved remained at a higher level than 2023.
• The pace of China game approval appears to have accelerated to the same level as pre-tightening, though the number of approvals appears to be slower than March.
• None of the listed companies that we followed received approval for mobile games.

• Cisarua Mountain Dairy booked a strong set of 1Q2024 results, with sequential quarterly growth in revenues and more so profits as margins recovered driven by both dairy and consumer foods. 
• The company ramped up its advertising, promotion, and marketing spending as it launched new products in the more affordable segments including new flavours for stick yoghurts and affordable consumer foods.
• Cimory remains optimistic for 2024 for a more pronounced recovery in dairy as it pushes out products into general trade and takes more shelf space in modern trade driving growth.

• Chinese outbound travel demand continued its gradual recovery in April 
• Moderating domestic demand? It’s not new, and outbound matters more 
• On a pullback to below US$50, we would again BUY Trip.com’s ADRs

• Nvidia switches to FOPLP for AI server chips to alleviate CoWoS capacity strain, improving efficiency and performance.
• Taiwanese banks embrace GenAI despite challenges, as revealed by a McKinsey survey highlighting growing adoption in the industry.
• European carmakers forge partnerships across continents to compete in the affordable electric vehicle market, focusing on collaboration and innovation.

• Boss Energy, an Australian uranium producer, saw a significant drop in stock price following the sale of shares by three directors.
• The directors sold a substantial amount of their stock, representing 83%, 63%, and 63% of their ordinary shareholdings respectively.
• The high volume of trading on the stock on the day of the sale has raised concerns about the timing and implications of the director’s actions during a critical phase of the company’s life cycle.

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• We hosted a conference call recently with ChipMOS management; the company continues to view 1Q24 as having been the bottom for the memory and display markets.
• Memory customers are increasing utilization further. Since ChipMOS does not significantly serve the HBM DRAM market, this indicates that previously softer non-HBM memory segments are now showing improvement.
• Display industry increasing utilization on expectation for 2H24 large display demand strength driven by sporting events such as the Paris Olympics. ChipMOS remains well below March highs, rate as Outperform.

• Ally remains confident in their ability to navigate challenges with a focus on pricing and underwriting discipline
• Ally’s strong capital position and strategic focus on digital banking position them well to benefit from potential economic recovery and rising interest rates
• Author believes Ally’s stock has significant long-term growth potential and could triple in value, with limited downside risk in the short term

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.

• Tong Yang Industry is now seeing record profit in FY23 and this appears to be in place to continue during FY24
• The automobile and motorcycle parts manufacturing company is seeing strong growth in the US market
• Electric vehicle parts R&D is well underway and this should support continued growth in coming years

• Part of our housing finance checks, we have been visiting Aavas Financiers Ltd (AAVAS IN)  branches for over two years now.
• While the situation was grim early on post the management change and increased competitive intensity, the current channel inputs are encouraging.
• Key areas that warrant attention are growth trajectory, yields, and tech upgrade. 

• RaaS Research Group has published an update report on diversified financials company Bell Financial Group (ASX:BFG) following the company’s presentation at the Bell Potter Emerging Leaders’ Conference yesterday.
• An April YTD trading update provided at the conference points to revenue growth of 23% and Profit After Tax (PAT) growth of 135%, an acceleration on Q1 CY24 Profit Before Tax (PBT) growth rates provided at the AGM, with all divisions profitable.
• This compares to a RaaS H1 CY24 PAT growth estimate of 90%, placing the group on track to achieve our H1 estimates.