In today’s briefing:
- Hozon New Energy Automobile Pre-IPO – The Negatives – Remains Far from Being Profitable
- Narrative and Numbers | Industrials (VOLT, JCHAC, HAVL, BLSTR) | FY24
- 10 in 10 with InnoTek Limited – Precision Metal Components for the Future
- Saigon Cargo Services (SCS VN): August Volumes of 40% YoY, Correction Provides An Opportunity
Hozon New Energy Automobile Pre-IPO – The Negatives – Remains Far from Being Profitable
- Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO.
- Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.
- In this note, we talk about the not-so-positive aspects of the deal.
Narrative and Numbers | Industrials (VOLT, JCHAC, HAVL, BLSTR) | FY24
- This Insight focuses on Industrials, particularly those that derive a significant portion of their revenue from Air Conditioners (ACs).
- Companies in focus are Voltas Ltd (VOLT IN), Johnson Controls-Hitachi Air Conditioning India (JCHAC IN),
- Blue Star Ltd (BLSTR IN) and Havells India (HAVL IN)
10 in 10 with InnoTek Limited – Precision Metal Components for the Future
- 10 Questions for https://investors.sgx.com/_security-types/stocks/M14 What are some of the latest updates from InnoTek with reference to its financial performance? Net profit for 1H24 remained steady at S million, unchanged from the previous year, which includes a S million provision for inventory obsolescence.
- In the past two years, InnoTek has diversified its customer base into technologically advanced sectors such as GPU servers, gaming machines, medical equipment, and ATMs.
Saigon Cargo Services (SCS VN): August Volumes of 40% YoY, Correction Provides An Opportunity
- Sai Gon Cargo Service (SCS VN) reported yet another strong month of data, with cargo volumes for August 2024 up 40% YoY. YTD volumes are up 43%.
- At this run rate, the company will comfortably beat its volume guidance of 248,000 tons for FY24 (>30% YoY). Q3FY24 will benefit from the full effect of the tariff hikes.
- With the recent correction, the stock trades at 11.9x FY24e and has an 8% dividend yield. The company’s next catalyst would be its Q3 FY24 result in November.
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