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Smartkarma Daily Briefs

Jan 29
0

Daily Brief Health Care: WuXi AppTec, Shouhui Tech and more

By | Daily Briefs, Healthcare

In today’s briefing:

  • WuXi AppTec (2359.HK/603259.CH) – Behind the Plunge Is a War
  • Shouhui Tech Pre-IPO Tearsheet

WuXi AppTec (2359.HK/603259.CH) – Behind the Plunge Is a War

By Xinyao (Criss) Wang

  • The approval rate of Draft Bill is very low. So, it’s more of a “strangulation” of investment sentiment. But considering the 2024 US presidential election, similar negative proposals may resurface. 
  • WuXi AppTec has little control over the entire situation.There’s “valuation discount” for China CXOs due to geopolitical conflicts. It’s difficult to completely rule out the possibility of “deliberate short selling”. 
  • If look deeper, considering “sensitive situations” at present, to some extent, we may have already been in a financial war.The goal of short selling is to pick up cheap chips. 

Shouhui Tech Pre-IPO Tearsheet

By Clarence Chu

  • Shouhui Tech (SHOU HK) is looking to raise around US$200m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC, and Huatai International.
  • Shouhui Tech (Shouhui) is an online life and health insurance intermediary service provider in China.
  • According to F&S, Shouhui was the third largest online insurance intermediary in China in terms of GWPs of long-term life and health insurance in 2022, with a 7.1% market share. 

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Jan 29
0

Daily Brief Industrials: LS Materials , Fanuc Corp, China Communications Construction, Emcor Group Inc and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Clarifying KOSDAQ 150 Fast Entry Confusions: LS Materials & Hyundai Hyms
  • Fanuc (6954) | Robot Orders Remain Weak
  • China Comm Const (1800 HK): New Contracts Gathering Steam
  • EMCOR Group: Initiation of Coverage – The Unseen Opportunity in High-Tech Manufacturing!

Clarifying KOSDAQ 150 Fast Entry Confusions: LS Materials & Hyundai Hyms

By Sanghyun Park

  • LS Materials completed its 15-day review but hasn’t been announced for fast entry, likely due to KRX’s Korean document disclosing the effective date starting February 1, 2024.
  • LS Materials will be in the June rebalancing, having not met the 6-month listing requirement for the June review, thus subject to the special entry rule.
  • Hyundai Hyms, surging 300% from IPO, ranks 58th by market cap, poised for KOSDAQ 150 entry. If successful, Unitest will be removed.

Fanuc (6954) | Robot Orders Remain Weak

By Mark Chadwick

  • Q3 net sales: ¥197.8 billion, down 10.1% YoY; operating income: ¥40.9 billion, down 22.1%; operating margin: 20.7% (-320bps YoY)
  • Full-Year guidance revised: Net sales up 1.8% to ¥771.5 billion; operating profit up 8.4% to ¥132.2 billion.
  • Positive stock reaction post-Q2 report; FY3/25 outlook cautious, especially for the Robot Division given a -30.2% YoY decline in Q4 orders.

China Comm Const (1800 HK): New Contracts Gathering Steam

By Osbert Tang, CFA

  • China Communications Construction (1800 HK) saw its 4Q23 new contracts increased 14%, faster than the 13.5% growth in 9M23. Full-year new contracts are 3.5% ahead of its target.
  • Our estimated backlog of Rmb4.26trn at end-FY23 is 25.6% higher than end-FY22. Such backlog covers 4.9x FY24F revenue, which is a 0.6pp improvement YoY.
  • The inclusion of market cap management as a KPI for senior SOE officials will drive return, while CSRC’s encouragement to raise payout ratio may easily push yield to over 10%.

EMCOR Group: Initiation of Coverage – The Unseen Opportunity in High-Tech Manufacturing!

By Baptista Research

  • This is our first report electrical and mechanical construction, and facilities services provider, EMCOR Group.
  • This has resulted in all-time quarterly records for revenues, gross profits, operating income, operating margin, diluted EPS, and remaining performance obligations (RPOs).
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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Jan 29
0

Daily Brief South Korea: LS Materials , SK Hynix and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Clarifying KOSDAQ 150 Fast Entry Confusions: LS Materials & Hyundai Hyms
  • SK Hynix & The Dawn Of Custom Memory Solutions

Clarifying KOSDAQ 150 Fast Entry Confusions: LS Materials & Hyundai Hyms

By Sanghyun Park

  • LS Materials completed its 15-day review but hasn’t been announced for fast entry, likely due to KRX’s Korean document disclosing the effective date starting February 1, 2024.
  • LS Materials will be in the June rebalancing, having not met the 6-month listing requirement for the June review, thus subject to the special entry rule.
  • Hyundai Hyms, surging 300% from IPO, ranks 58th by market cap, poised for KOSDAQ 150 entry. If successful, Unitest will be removed.

SK Hynix & The Dawn Of Custom Memory Solutions

By William Keating

  • SK Hynix reported Q423 revenues of 11.31 trillion won, up 25% QoQ and up 47% YoY
  • Operating profit of 346 billion won, marking the first quarter of profit following four straight quarters of losses.
  • SK Hynix is investing heavily in custom memory solutions driven by AI-related demand. It’s a far better and more profitable business model than the mainstream commodity one.

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Jan 29
0

Most Read: Ping An Insurance (H) and more

By | Daily Briefs, Most Read

In today’s briefing:

  • Ping An A/​H Premium: Blow Out Could Lead to Sharp Reversal

Ping An A/​H Premium: Blow Out Could Lead to Sharp Reversal

By Brian Freitas

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Jan 29
0

Daily Brief China: Tencent, China Mobile, Tracker Fund of Hong Kong , Alibaba (ADR), WuXi AppTec, Shouhui Tech, China Communications Construction and more

By | China, Daily Briefs

In today’s briefing:

  • HK Connect SOUTHBOUND Flows (To 26 Jan 2024); ETFs and High Div SOEs Again BIG Buys, Tech Sold
  • A/H Premium Tracker (To 26 Jan 2024):  AH Premia Still Near Multi-Yr Wides, SOEs May See New Action
  • Further Opportunities in the Hong Kong Market
  • China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki
  • WuXi AppTec (2359.HK/603259.CH) – Behind the Plunge Is a War
  • Shouhui Tech Pre-IPO Tearsheet
  • China Comm Const (1800 HK): New Contracts Gathering Steam

HK Connect SOUTHBOUND Flows (To 26 Jan 2024); ETFs and High Div SOEs Again BIG Buys, Tech Sold

By Travis Lundy

  • A better week for HK stocks as A-shares rebound on National Team buying, a PBOC RRR cut, and potentially other measures to boost the market. Foreigners stopped selling; that helped.
  • Southbound saw decent net buying on ETFs late in the week, but otherwise the week was pretty flat in single-stock land – net buying of SOEs, selling of tech.
  • Net SOUTHBOUND buying was HK$4.5bn on the week, mostly through Shanghai (interestingly, 90+% of the decent NORTHBOUND buy was also through Shanghai). 

A/H Premium Tracker (To 26 Jan 2024):  AH Premia Still Near Multi-Yr Wides, SOEs May See New Action

By Travis Lundy

  • The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc. 
  • SOUTHBOUND flows were small positive and NORTHBOUND flows a decent buy. AH premia stopped rising. Chinese shares bounced. SOEs being bought. Tech being sold. Tencent seeing SB outflows, still. 
  • New article in China Securities Journal hints at new measures on SOEs. Watch this space. Wouldn’t be short SOEs vs Privates on H/A basis. 

Further Opportunities in the Hong Kong Market

By Rikki Malik

  • If a sustainable bottom was made in January, which sectors are best to invest?
  • China State Owned Enterprises fit the current uncertain investment climate
  • The Hang Seng China Affiliated Index (red chips) provides some good ideas

China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

By Ming Lu

  • Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.
  • Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.
  • Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.

WuXi AppTec (2359.HK/603259.CH) – Behind the Plunge Is a War

By Xinyao (Criss) Wang

  • The approval rate of Draft Bill is very low. So, it’s more of a “strangulation” of investment sentiment. But considering the 2024 US presidential election, similar negative proposals may resurface. 
  • WuXi AppTec has little control over the entire situation.There’s “valuation discount” for China CXOs due to geopolitical conflicts. It’s difficult to completely rule out the possibility of “deliberate short selling”. 
  • If look deeper, considering “sensitive situations” at present, to some extent, we may have already been in a financial war.The goal of short selling is to pick up cheap chips. 

Shouhui Tech Pre-IPO Tearsheet

By Clarence Chu

  • Shouhui Tech (SHOU HK) is looking to raise around US$200m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC, and Huatai International.
  • Shouhui Tech (Shouhui) is an online life and health insurance intermediary service provider in China.
  • According to F&S, Shouhui was the third largest online insurance intermediary in China in terms of GWPs of long-term life and health insurance in 2022, with a 7.1% market share. 

China Comm Const (1800 HK): New Contracts Gathering Steam

By Osbert Tang, CFA

  • China Communications Construction (1800 HK) saw its 4Q23 new contracts increased 14%, faster than the 13.5% growth in 9M23. Full-year new contracts are 3.5% ahead of its target.
  • Our estimated backlog of Rmb4.26trn at end-FY23 is 25.6% higher than end-FY22. Such backlog covers 4.9x FY24F revenue, which is a 0.6pp improvement YoY.
  • The inclusion of market cap management as a KPI for senior SOE officials will drive return, while CSRC’s encouragement to raise payout ratio may easily push yield to over 10%.

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Jan 29
0

Daily Brief Japan: Shinko Electric Industries, Fanuc Corp, NAFCO Co Ltd, Paris Miki Holdings and more

By | Daily Briefs, Japan

In today’s briefing:

  • Merger Arb Mondays (29 Jan) – Shinko, JSR, Payroll, T&K Toka, Weiqiao, Hollysys, Newmark, OreCorp
  • Fanuc (6954) | Robot Orders Remain Weak
  • NAFCO (2790) – Big ToSTNeT-3 Raises Obvious Questions
  • Paris Miki (7455 JP) – Corrected Vision – Is This A Setup For an MBO?

Merger Arb Mondays (29 Jan) – Shinko, JSR, Payroll, T&K Toka, Weiqiao, Hollysys, Newmark, OreCorp

By Arun George

Fanuc (6954) | Robot Orders Remain Weak

By Mark Chadwick

  • Q3 net sales: ¥197.8 billion, down 10.1% YoY; operating income: ¥40.9 billion, down 22.1%; operating margin: 20.7% (-320bps YoY)
  • Full-Year guidance revised: Net sales up 1.8% to ¥771.5 billion; operating profit up 8.4% to ¥132.2 billion.
  • Positive stock reaction post-Q2 report; FY3/25 outlook cautious, especially for the Robot Division given a -30.2% YoY decline in Q4 orders.

NAFCO (2790) – Big ToSTNeT-3 Raises Obvious Questions

By Travis Lundy

  • On Friday 26 January, NAFCO Co Ltd (2790 JP) announced Q3 earnings and a large Buyback Program to run from 29 January through 31 March.
  • While the company is having A Very Bad Year, this buyback raises obvious questions. The size is interesting given the float and the shareholder structure. 
  • Those interested in SmallCap Events might take a look. There are very short-term and slightly longer-term implications.

Paris Miki (7455 JP) – Corrected Vision – Is This A Setup For an MBO?

By Travis Lundy

  • The situation at Paris Miki has been relatively non-salutary the last many years til 2022. The stock has underperformed peers in sales growth and has dropped sales points. 
  • The company has a decent relationship with one of its main suppliers, global eyewear giant Luxottica Group (LUX IM), which just added to their stake recently, aggressively. 
  • The company is getting slow-kicked out of TOPIX, but revival appears in the works. It kind of looks like a setup for an MBO.

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Jan 29
0

Daily Brief United States: Choice Hotels Intl, Emcor Group Inc and more

By | Daily Briefs, United States

In today’s briefing:

  • Choice Hotels: The Mega Merger Moves: Inside Choice Hotels’ Bold $8 Billion Play for Wyndham!
  • EMCOR Group: Initiation of Coverage – The Unseen Opportunity in High-Tech Manufacturing!

Choice Hotels: The Mega Merger Moves: Inside Choice Hotels’ Bold $8 Billion Play for Wyndham!

By Baptista Research

  • This is our first report on global hotels major, Choice Hotels International.
  • The company’s CEO, Patrick Pacious, and CFO, Scott Oaksmith, provided details on their financial results and strategic initiatives, including the proposed acquisition of Wyndham Hotels & Resorts.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

EMCOR Group: Initiation of Coverage – The Unseen Opportunity in High-Tech Manufacturing!

By Baptista Research

  • This is our first report electrical and mechanical construction, and facilities services provider, EMCOR Group.
  • This has resulted in all-time quarterly records for revenues, gross profits, operating income, operating margin, diluted EPS, and remaining performance obligations (RPOs).
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

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Jan 28
0

Daily Brief Industrials: Fsp Technology, Korean Air Lines, Armstrong World Industries, Huntington Ingalls Industries and more

By | Daily Briefs, Industrials

In today’s briefing:

  • Asian Dividend Gems: FSP Technology
  • Korean Air – Another US Example Of A Ruling Against Consolidation Raises Asiana Merger Questions
  • Armstrong World Industries: Initiation of Coverage – Resilience Revolution! How Their Unique Market Positioning Is Driving Exceptional Growth! – Major Drivers
  • Huntington Ingalls Industries: Initiation of Coverage – Why They’re Boosting Revenue Forecasts – Insights into a Booming Business! – Major Drivers

Asian Dividend Gems: FSP Technology

By Douglas Kim

  • While the world is trying to transition to more renewable energies, FSP Technology (Taiwan) could be a beneficiary of reliable power energy supply products. 
  • FSP Technology’s dividend yield averaged 8.1% from 2020 to 2022. The company has a strong balance sheet. Net cash as a percentage of market cap is 40%.
  • FSP Technology provides power supply products used for personal computers, industrial power, renewable energy, and batteries. We used Smartkarma’s Smart Score Screener system to find Fsp Technology (3015 TT). 

Korean Air – Another US Example Of A Ruling Against Consolidation Raises Asiana Merger Questions

By Neil Glynn

  • The US Department of Transport (DOT) has ordered the termination of Delta and Aeromexico’s joint venture from October 2024 due to access restrictions in Mexico City.
  • This follows the (unrelated) US blocking of JetBlue’s planned acquisition of Spirit Airlines on the grounds that it would negatively impact consumers.
  • Each case is different, but the US has previously voiced concerns regarding Korean Air’s planned merger with Asiana, and the bar continues to rise for M&A/JV approval globally.

Armstrong World Industries: Initiation of Coverage – Resilience Revolution! How Their Unique Market Positioning Is Driving Exceptional Growth! – Major Drivers

By Baptista Research

  • This is our first report on ceiling systems producer, Armstrong World Industries.
  • The company’s last results present an investment perspective characterized by robust sales and growth despite compromised market conditions.
  • Moreover, Armstrong World Industries pleasantly surpassed expectations as it did not witness any further deterioration of market activity.

Huntington Ingalls Industries: Initiation of Coverage – Why They’re Boosting Revenue Forecasts – Insights into a Booming Business! – Major Drivers

By Baptista Research

  • This is our first report on militiry ships design player, Huntington Ingalls Industries.
  • The company’s Q3 2023 earnings conference call revealed solid overall growth for the company.
  • According to President and CEO, Chris Kastner, the company reached record Q3 revenue, with top-line growth of 7.2% year-on-year to $2.8 billion.

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Jan 28
0

Daily Brief TMT/Internet: Intel Corp, Shinko Electric Industries, Renesas Electronics, Yelp Inc, PowerSchool Holdings , Axcelis Technologies, Plexus Corp, US Cellular and more

By | Daily Briefs, TMT/Internet

In today’s briefing:

  • Intel Ruins The Rally With Its Gloomy Guide
  • (Mostly) Asia-Pac Weekly Risk Arb Wrap: Newmark, Payroll, Orecorp, Weiqiao, Mandala Multi, Shinko
  • Index Rebalance & ETF Flow Recap: CSI300, CSI500, SSE50, ChiNext, KOSPI200, Renesas, IDX30/LQ45
  • Yelp Inc: Initiation of Coverage – Unveiling Yelp’s High-ROI Ad Innovations That Are Changing the Game! – Major Drivers
  • PowerSchool Holdings: Initiation of Coverage – Find Out How Their Cutting-Edge AI Is Transforming Public Education! – Major Drivers
  • Axcelis Technologies Inc.: Initiation of Coverage – The Silicon Carbide Revolution – How They’re Leading the Charge in Power Technology! – Major Drivers
  • Axcelis Technologies Inc.: Initiation of Coverage – The Silicon Carbide Revolution – How They’re Leading the Charge in Power Technology! – Major Drivers
  • Plexus Corp: Initiation of Coverage – Discover Their Secret Strategy for Growth In 2024! – Major Drivers
  • ECM Weekly (28th Jan 2024) – Renesas, FCT, Genda, Amer, Guming, FirstCry, Thai Credit
  • United States Cellular Corporation: Initiation of Coverage – What Is Their Biggest Competitive Advantage? – Major Drivers

Intel Ruins The Rally With Its Gloomy Guide

By William Keating

  • Q423 revenues of $15.4 billion, +8.5% QoQ, +10% YoY and $300 million above the guided midpoint
  • Q124 guided to $12.7 billion, -17.5% QoQ albeit still up 8% YoY.  
  • Intel’s share priced fell 12% on the guide. CEO says this was an overreaction. 

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Newmark, Payroll, Orecorp, Weiqiao, Mandala Multi, Shinko

By David Blennerhassett

Index Rebalance & ETF Flow Recap: CSI300, CSI500, SSE50, ChiNext, KOSPI200, Renesas, IDX30/LQ45

By Brian Freitas

  • The review period for the NIFTY family of indices, Nikkei 225, STAR50, the KRX New Deal Index and a global index ends on 31 January.
  • The January rebalance of the IDX30 and LQ45 indices will be implemented at the close of trading on 31 January.
  • There have been huge inflows into the CSI 300 Index ETFs for another week. This will increase the impact on the index changes at the next rebalance.

Yelp Inc: Initiation of Coverage – Unveiling Yelp’s High-ROI Ad Innovations That Are Changing the Game! – Major Drivers

By Baptista Research

  • This is our first report on Yelp Inc.
  • The management addressed strong performance across several key metrics.
  • They reported an impressive 10th consecutive quarter of double-digit revenue growth, achieving a record net revenue of $345 million which signifies a 12% YoY increase.

PowerSchool Holdings: Initiation of Coverage – Find Out How Their Cutting-Edge AI Is Transforming Public Education! – Major Drivers

By Baptista Research

  • This is our first report on PowerSchool Group Inc., an education technology company.
  • The company recorded promising results in its Third Quarter 2023 Earnings.
  • We have added reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.

Axcelis Technologies Inc.: Initiation of Coverage – The Silicon Carbide Revolution – How They’re Leading the Charge in Power Technology! – Major Drivers

By Baptista Research

  • This is our first report on Axcelis Technologies.
  • As the power market continues to strengthen, Axcelis is guiding for Q4 2023 revenue with a gross margin of approximately 45% and an EPS of around 00.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Axcelis Technologies Inc.: Initiation of Coverage – The Silicon Carbide Revolution – How They’re Leading the Charge in Power Technology! – Major Drivers

By Baptista Research

  • This is our first report on Axcelis Technologies.
  • As the power market continues to strengthen, Axcelis is guiding for Q4 2023 revenue with a gross margin of approximately 45% and an EPS of around 00.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Plexus Corp: Initiation of Coverage – Discover Their Secret Strategy for Growth In 2024! – Major Drivers

By Baptista Research

  • This is our first report electronic manufacturing services provider, Plexus Corporation.
  • The company’s Q4 2023 earnings, a significant takeaway includes the company’s impressive performance throughout the fiscal year.
  • Plexus’ VP of Communications and Investor Relations, Shawn Harrison, emphasized the company’s focus on operational and customer service excellence, which ultimately led to strong financial results.

ECM Weekly (28th Jan 2024) – Renesas, FCT, Genda, Amer, Guming, FirstCry, Thai Credit

By Sumeet Singh

United States Cellular Corporation: Initiation of Coverage – What Is Their Biggest Competitive Advantage? – Major Drivers

By Baptista Research

  • This is our first report on UScellular, a leading regional wireless network operator in the US.
  • The company has been focusing on improving its fiscal outcomes while concurrently innovating in its network capabilities and service offerings.
  • We have added reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.

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Jan 28
0

Daily Brief Consumer: TSE Tokyo Price Index TOPIX, Marriott Vacations World, China Tourism Group Duty Free Corp Ltd, Casey’S General Stores, American Eagle Outfitters, Hilton Grand Vacations, Inter Parfums, Bausch + Lomb, Nexstar Broadcasting Group, Inc, Toll Brothers and more

By | Consumer, Daily Briefs

In today’s briefing:

  • TSE Policy Seems to Be that Disclosure in English Is Left to the Companies’ Own Initiative
  • Marriott Vacations Worldwide: Initiation of Coverage – Global Expansion Explosion! The Secret Behind Their 40% Surge in International Sales! – Major Drivers
  • LVMH & Richemont Said Chinese Demand for Luxury Goods Is Strong; POSITIVE for China Tourism Group
  • Casey’s General Stores: Initiation of Coverage – Exploding Across New Territories – How Their Bold Expansion is Winning the Market! – Major Drivers
  • American Eagle Outfitters: Initiation of Coverage – Inside the Store Remodels Driving Unprecedented Sales Surges! – Major Drivers
  • Hilton Grand Vacations Inc: Initiation of Coverage – Bluegreen Bonanza: Unlocking Hilton’s Explosive Growth with This Game-Changing Acquisition! – Major Drivers
  • Inter Parfums: Initiation of Coverage – Inside the Strategy Behind Their Newest
  • Bausch + Lomb Corporation: Initiation of Coverage – The Multi-Million Dollar Growth Secret Behind LUMIFY and More! – Major Drivers
  • Nexstar Media Group: Initiation of Coverage – What Is Its Bold Digital and Advertising Strategies Set to Dominate the Market! – Major Drivers
  • Toll Brothers: Initiation of Coverage – How Their Innovative Community Expansion Is Set to Dominate the Market in 2024! – Major Drivers

TSE Policy Seems to Be that Disclosure in English Is Left to the Companies’ Own Initiative

By Aki Matsumoto

  • It will be useful for investors if timely disclosure information, which has large market impact but is still disclosed in English by half of companies, is disclosed in English simultaneously.
  • By limiting the TSE policy to documents that are already disclosed in English by many companies, there is concern that other high-demand documents may not be disclosed in English.
  • An analysis of English disclosure status and value creation indicators shows that many companies, even those with high profitability and high stock valuation, are not ready for disclosure in English.

Marriott Vacations Worldwide: Initiation of Coverage – Global Expansion Explosion! The Secret Behind Their 40% Surge in International Sales! – Major Drivers

By Baptista Research

  • This is our first report on Marriott Vacations Worldwide.
  • On the positive side, contract sales across Europe and Asia Pacific increased by a notable 42% year-over-year proving the company’s strong international growth.
  • Another positive aspect is the successful launch of the Hyatt Vacation Club brand and the new BEYOND program, which increased the number of travel offerings for Hyatt Vacation Club owners.

LVMH & Richemont Said Chinese Demand for Luxury Goods Is Strong; POSITIVE for China Tourism Group

By Mohshin Aziz

  • European luxury goods maker enjoyed its best week in the past 52 weeks, spurred by better-than-expected results by LVMH, the industry leader and widely viewed as the bellwether  
  • China’s market was cited as resilient and very strong in certain categories, defying the general market perception that Chinese demand is soft
  • The key European luxury goods share price has risen by an average of 8.2% YTD, China Tourism Group share price performance has lagged. Good buying opportunity    

Casey’s General Stores: Initiation of Coverage – Exploding Across New Territories – How Their Bold Expansion is Winning the Market! – Major Drivers

By Baptista Research

  • This is our first report on Casey’s General Stores.
  • The company’s performance in the previous quarter remains solid as it delivered strong second-quarter results.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

American Eagle Outfitters: Initiation of Coverage – Inside the Store Remodels Driving Unprecedented Sales Surges! – Major Drivers

By Baptista Research

  • This is our first report on apparel major, American Eagle Outfitters.
  • In the third quarter of 2023, American Eagle Outfitters achieved record revenue of $1.3 billion, buoyed by both strong in-store performance and a 10% growth in its digital channel.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Hilton Grand Vacations Inc: Initiation of Coverage – Bluegreen Bonanza: Unlocking Hilton’s Explosive Growth with This Game-Changing Acquisition! – Major Drivers

By Baptista Research

  • This is our first report on Hilton Grand Vacations Inc (HGV).
  • This acquisition is part of Hilton Grand Vacations’ strategy to enhance business resilience and long-term value, suggesting new growth avenues.
  • However, the company faced challenges in the third quarter, primarily due to the impact of wildfires on its Maui business.

Inter Parfums: Initiation of Coverage – Inside the Strategy Behind Their Newest

By Baptista Research

  • This is our first report on fragrance and fragrance related product provider, Inter Parfums Inc.
  • The company’s Q3 2023 results painted a picture of a company capitalising on the strength of the global fragrance market.
  • The total sales growth the company recorded was an impressive 27% year to date.

Bausch + Lomb Corporation: Initiation of Coverage – The Multi-Million Dollar Growth Secret Behind LUMIFY and More! – Major Drivers

By Baptista Research

  • This is our first report on eye health major, Bausch + Lomb Corporation.
  • The company’s Q3 2023 Earnings Call reported an 8% increase in revenue, growth attributed to strengths across its well established and emerging brands that cover the whole spectrum of eye health.
  • In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Nexstar Media Group: Initiation of Coverage – What Is Its Bold Digital and Advertising Strategies Set to Dominate the Market! – Major Drivers

By Baptista Research

  • This is our first report on television broadcasting and digital media major, Nexstar Media Group.
  • The company maintained strengths in crucial areas despite year-over-year declines in cyclical political advertising and net distribution revenue impacts resulting from negotiations with DirecTV.
  • Due to the favorable terms of these agreements and upcoming renewals, the company anticipates high-margin distribution revenue growth in future periods.

Toll Brothers: Initiation of Coverage – How Their Innovative Community Expansion Is Set to Dominate the Market in 2024! – Major Drivers

By Baptista Research

  • This is our first report on Toll Brothers.
  • The company recorded a strong performance for the fourth quarter of Fiscal Year 2023, despite challenges such as high mortgage rates, global unrest, and fears of a recession, delivering 2,755 homes and yielding $2.95 billion in home sales revenues.
  • Similarly, for the full year, the company delivered 9,597 homes at an average price of around $1.03 million, bringing the total homebuilding revenues to a record $9.9 billion.

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