Daily Brief Consumer: Kia Corp, Ryohin Keikaku, Raptee Energy Private Limited, Ping An Healthcare and Technol, Marfrig Global Foods SA and more

• Kia is set to make a comeback, while the exclusion of Posco Future M is on the horizon.
• The screening date is set for November 30th, and the effective date is December 18th, which means the ETF rebalancing will take place on December 15th.
• The exposure period to the market is relatively short, so it’s essential to acknowledge the limited accumulation of learning effects. This suggests we can anticipate a notably substantial price impact.

• Ryohin Keikaku (7453 JP) will announce FQ4 results on October 13th; we expect earnings to beat consensus by ¥2-3bn, potentially boosting stock performance.
• FY24 OP guidance at around ¥55bn could be a catalyst for significant upside potential in the short term.
• The current share price of approximately ¥1,800 per share supports an annual OP of roughly ¥30bn, indicating nearly 100% upside potential with FY24 guidance.

• In just five years, India’s electric-vehicle sector has surged, positioning the country to become the world’s largest EV market by 2030.
• In addition to their cost and environmental advantages, EVs also enjoy tax benefits in India. However, despite having 3 million EVs on the road, the country hasn’t established standardized charging protocols for these vehicles.
• With that in mind, Raptee said it is the first Indian EV startup to opt for the Combined Charging System Type 2 connectors, or CCS2. By integrating both AC and high-power DC charging, the system expedites the charging process, particularly at Level 3 charging stations.

• PAGD successfully narrowed net loss. It seems that the Company doesn’t mind “sacrificing” revenue scale, which could be considered “a necessary price” to pay for the transition to 2B model.
• PAGD mainly rely on Ping An Group channels to acquire B-end and F-end users, but based on our calculation, PAGD would encounter an obvious growth ceiling at certain revenue scale.
• Although PAGD could achieve breakeven by divesting businesses with low strategic synergies and effective cost control, the Company’s long-term growth potential and prospects remain uncertain, leading to discounted valuation.  

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Marfrig’s ESG as “Adequate”, in line with its “Adequate” Environmental, Social and Governance pillars. Controversies are “Immaterial” and Disclosure is “Strong”.