Daily Brief Industrials: Doosan Robotics , Medi Assist Healthcare Services, Joby Aviation , Timee Inc, NEXTracker and more

• The Doosan Group are planning to restructure Doosan Enerbility (034020 KS), Doosan Bobcat Inc (241560 KS) and Doosan Robotics (454910 KS) by reorganizing the business structure to find synergies.
• Doosan Enerbility will spin-off its stake in Doosan Bobcat and merge it with Doosan Robotics. Doosan Robotics will then look to acquire full control of Doosan Bobcat via a share swap.
• There could be an adhoc inclusion to the KOSPI200 INDEX at the end of October and global passives will buy Doosan Robotics (454910 KS) at the time of merger completion.

• Medi Assist Healthcare Services (0886371D IN) was listed on 23rd Jan 2024 after raising US$140m. The IPO had been 100% secondary, with the promoters and pre-IPO investors trimming their stakes.
• Medi Assist Healthcare Services (Medi Assist) provides third party administration services to insurance companies via its subsidiaries.
• Coming up for six-month lockup expiry are the firm’s pre-IPO shareholders and a portion of the promoters’ stakes.

• Strong team, innovative product, and potential market demand in auto tech space support highly speculative projections for investment in Joby Aerospace
• Despite concerns about aggressive projections, company’s current valuation offers attractive entry point for investors seeking substantial upside with decent margin of safety
• Joby’s eVTOL aircraft development and plans for air taxi service differentiate it from other failed SPAC ventures, positioning it as top-tier hard tech startup with potential for success

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.

• Timee has set an indicative IPO price range of ¥1,350-1,450 per share and will raise US$280m (at the midpoint) where existing shareholders will sell down part of their ownership.
• We expect Timee’s earnings to grow as the company is still in its early stages and with further growth in scale, we expect Timee’s margins to continue to expand further.
• Our analysis shows that Timee Inc (215A JP) IPO is valued attractively as the company has better-than-peer margin profile which suggests that there is further upside to implied valuation multiples.

• Nextracker’s Fourth Quarter and Full Fiscal Year 2024 conference detailed a period of significant achievement and robust performance, balanced by a practical outlook on the evolving challenges and opportunities in the solar industry.
• The company reported a strong year with highlights including a 40% annual increase in Q4 revenue to $737 million and a doubling of adjusted EBITDA to $160 million for the same period.
• This capped a fiscal year where revenue soared over 30% to hit $2.5 billion with adjusted EDBITA more than doubling to $521 million.