In today’s briefing:
- A/H Premium Tracker (To 2 Feb 2024): Liquid AH Premia Near Multi-Yr Wides, Wide Spreads Narrowing
- Mainland Connect NORTHBOUND Flows (To 2 Feb 2024): Decent Net Buying, But Reversionary Net Flows
- Netflix Inc: Will Its Foray Into Live Entertainment Result In Phenomenal Subscriber Growth? – Major Drivers
- Isn’t It Hypocritical to Request a P/B Raising Measure While Continuing the Listed Subsidiary IPO?
- DayaTani harvests $2.3m seed money to digitalize agriculture
- ECM Weekly (4th Feb 2024) – Ola Electric, Mixue, Citicore, Amer, Thai Credit, Indus Tower, MTAL
- D.R. Horton: Initiation of Coverage – The Ingenious Tactics to Overcome Soaring Costs and Skyrocket Profits! – Business Strategy
- Procter & Gamble – Continued Growth Potential In China Boosting The Top-Line? – Major Drivers
A/H Premium Tracker (To 2 Feb 2024): Liquid AH Premia Near Multi-Yr Wides, Wide Spreads Narrowing
- 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 net negative and NORTHBOUND flows a decent buy. AH premia on average fell, but liquid pairs saw AH premia rise. Chinese/HK shares shellacked.
- Watch the SOE stock price KPI space. Wouldn’t be short SOEs vs Privates on H/A basis. Low-hanging fruit with some SOEs having large cash balances.
Mainland Connect NORTHBOUND Flows (To 2 Feb 2024): Decent Net Buying, But Reversionary Net Flows
- The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
- Last week saw NORTHBOUND net BUY RMB 9.9bn of A-shares on very strong average activity after +12.1bn RMB the week before. Some National Team buying this week.
- Renewables selling was tempered. Energy and Finance saw net selling. Industry and Tech saw large net buying. Relatively larger net Shenzhen buying later in the week as stocks fell hard.
Netflix Inc: Will Its Foray Into Live Entertainment Result In Phenomenal Subscriber Growth? – Major Drivers
- Netflix, in their recent Q4 2023 earnings call, highlighted key developments that signal both progress and future challenges for the company.
- The firm elaborated on its partnership with WWE, where Netflix airs live WWE events.
- As per co-CEO Theodore Sarandos, fans of WWE have lauded this move, many of whom Netflix assumes were underserved previously.
Isn’t It Hypocritical to Request a P/B Raising Measure While Continuing the Listed Subsidiary IPO?
- Since the introduction of the Corporate Governance Code, the hurdle for listed companies to fulfill their responsibilities has become higher, which is why more managers are choosing to go private.
- While some of companies with large market capitalizations that overseas investor engagement extends to are showing promise for change, many others are failing to step up management to create value.
- TOPIX’s rise has been mainly driven by an increase in the number of companies rather than an increase in stock prices. The market should become higher in quality through de-listing.
DayaTani harvests $2.3m seed money to digitalize agriculture
- Singapore-based agritech startup DayaTani has raised US$2.3 million in a seed funding round led by Ascent Venture Group with participation from KBI Investment, MDI Ventures, Northstar Ventures, BRI Ventures, and Gentree Fund.
- Founded in 2023, DayaTani works to enhance yields for Indonesian farmers, operating research and development sites across the Java island that focus on horticulture and grain crops.
- The company is developing hardware and software including data science models for more accurate recommendations, such as what fertilizer to use, based on real-world conditions.
ECM Weekly (4th Feb 2024) – Ola Electric, Mixue, Citicore, Amer, Thai Credit, Indus Tower, MTAL
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPO front, Amer Sports (AS US) was priced below its range, while Thai Credit Bank PCL, managed to get enough support to pull thru.
- Given the earnings season, there weren’t many placement apart from Indus Towers (INDUSTOW IN) and Metals Acquisition (MTAL US)‘s CDR offering.
D.R. Horton: Initiation of Coverage – The Ingenious Tactics to Overcome Soaring Costs and Skyrocket Profits! – Business Strategy
- This is our first report on D.R. Horton, one of America’s largest homebuilders.
- The company reported solid first quarter results for the fiscal year 2024.
- The company highlighted a promising increase of net sales orders by 35% from the previous year’s quarter.
Procter & Gamble – Continued Growth Potential In China Boosting The Top-Line? – Major Drivers
- Based on the information shared during the recent earnings, Procter & Gamble has demonstrated solid performance, accomplishing significant organic sales growth and market share results despite a challenging operating environment.
- A diverse portfolio, combined with strong steps in innovation and sustainability, positions the company for continued success.
- Notably, Procter & Gamble reported a strong quarter with 4% growth in organic sales and a 16% increase in core earnings per share.
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