In today’s briefing:
- MediaTek (2454.TT): Dimensity 9400 Unveiled in Sep; 2Q24F Sales Could Be a Bit Higher than 1Q24F.
- The Wendy’s Company: Initiation Of Coverage – Expansion Of Footprint In UK & US
- Mitra Adiperkasa (MAPI IJ) – Pushing Retail Boundaries
- Kawasan Industri Jababeka (KIJA IJ) – Proxy for Shifting Supply Chains
- PDD Holdings: 6 Growth Factors & 3 Major Challenges In Front Of This Chinese Giant! – Financial Forecasts
- Micron Technology: HBM Product Adoption
- FactSet Research Systems Inc.: Substantial Pipeline & Competitive Displacements! – Major Drivers
- Asian Dividend Gems: Taidoc Technology
- FedEx Corporation: Will The Implementation Of The One FedEx Strategy Pay Off? – Major Drivers
- Intloop (9556) – Recalibrating to Aim for Long-Term Growth
MediaTek (2454.TT): Dimensity 9400 Unveiled in Sep; 2Q24F Sales Could Be a Bit Higher than 1Q24F.
- Mediatek Inc (2454 TT) Dimensity 9400 is expected to be released in September 2024F.
- Artificial Intelligence (AI) is a trending topic, and MediaTek is adapting by emphasizing Generative AI functionality in its Dimensity 9300 and 9400 smartphone models.
- The smartphone market is expected to recover in 2024F, with MediaTek’s revenue in the second quarter potentially surpassing the first quarter.
The Wendy’s Company: Initiation Of Coverage – Expansion Of Footprint In UK & US
- This is our first report on Wendy’s Company.
- In Q4, Wendy’s global systemwide sales grew over 3%, supported by global same-restaurant sales growth and the benefit of global net unit growth.
- U.S. company-operated restaurant sales grew due to higher average check figures driven by cumulative pricing of around 4.5%.
Mitra Adiperkasa (MAPI IJ) – Pushing Retail Boundaries
- Mitra Adiperkasa (MAPI IJ) finished the year with strong sales growth of +17.4% YoY in 4Q2023 with solid growth across all segments and improving margins.
- The company continues to add to its 150-strong brand portfolio in Indonesia, as well as extending its reach further in Southeast Asia and growing its omnichannel capabilities.
- MAPI remains our top retail pick in Indonesia with its focus on the resilient upper-middle segment in Indonesia and increasing regional exposure. Valuations remain attractive at 12.5x FY2024E PER.
Kawasan Industri Jababeka (KIJA IJ) – Proxy for Shifting Supply Chains
- Kawasan Industri Jababeka released a strong set of FY2023 results, with revenue growth of 20% overall and EBITDA increasing by +15% YoY due to higher land sales at Kendal.
- KIJA also saw strong recurrent revenue from its infrastructure pillar making up 44% of sales. Marketing sales came in above its target and it is projecting a higher 2024 number.,
- The company’s Kendal Estate is a key beneficiary of shifting supply chains from China with 81% of sales to foreign companies and marketing sales increasing 68% YoY in 2023.
PDD Holdings: 6 Growth Factors & 3 Major Challenges In Front Of This Chinese Giant! – Financial Forecasts
- Pinduoduo Holdings, Inc. closed its fiscal year of 2023 in a positive trajectory.
- The company reported sustained growth in consumer engagement on its platform in its fourth quarter results.
- High-quality development remains a key strategy for the company.
Micron Technology: HBM Product Adoption
- Micron Technology’s Fiscal Second Quarter 2024 Earnings showcased a lean towards optimism with some cautionary notes.
- It was revealed that the Micron sees substantial demand for High Bandwidth Memory (HBM) which has even surpassed their expectations and as such the HBM supply for 2024 is already sold out, with most of 2025’s capacity also already allocated.
- This is due in part to the product’s high performance specs and 30% lower power consumption.
FactSet Research Systems Inc.: Substantial Pipeline & Competitive Displacements! – Major Drivers
- FactSet Research Systems Inc., a multinational financial data and software company, posted a mixed result for its second fiscal quarter of 2024.
- Despite enduring difficult market conditions and an industry rife with uncertainties, FactSet revealed a year-over-year growth of 5.4% in organic ASV plus professional services.
- The quarter-end showed over 8,000 clients with 75 net new logos added.
Asian Dividend Gems: Taidoc Technology
- Taidoc Technology is an attractive small cap health care stock in Taiwan. It has a solid dividend yield, strong balance sheet, and stable profits and free cash flow.
- The company’s core business includes clinical equipment and professional instruments including diagnostic, telehealth, and blood sugar and blood pressure monitoring devices.
- We found Taidoc Technology using Smartkarma’s Smart Score Screener system. It has top ranks in the Value and Dividend categories. However, it has lower rankings in the remaining categories.
FedEx Corporation: Will The Implementation Of The One FedEx Strategy Pay Off? – Major Drivers
- According to the FedEx Corporation’s third quarter earnings report for the Fiscal Year 2024, profits continued to increase for the third successive quarter.
- This is attributed to the FedEx team’s prompt customer service and progress with transformation initiatives.
- Although revenues declined, operating income and profit margin showed growth—a dynamic the CEO attributed to FedEx’s transformation and its management prowess in controlling what is within its purview.
Intloop (9556) – Recalibrating to Aim for Long-Term Growth
- Addressing selling activity by organizational change – Q1-2 FY7/24 results demonstrated double-digit sales growth of 41.5% YoY via underlying growth at the parent business and acquisitive impact from DICS Holdings.
- However, the overall pace of growth was lower than expected, with INTLOOP experiencing lower-than-planned productivity from newly hired sales representatives.
- The company has addressed this by implementing a new and reinforced organizational structure in H2 FY7/24 by recruiting senior management (partner and managing director class) to drive sales activities as well as customer acquisition and increasing overall market coverage.
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