In today’s briefing:
- Nippon Express (9147 JP): The Current Playbook
- 3Q Follow-Up – Copro-Holdings (7059 Jp)
- Shanghai Zhida Technology Development Pre-IPO Tearsheet
- Plug Power Inc.: New Contracts & 5 Major Growth Catalysts For 2024 & Beyond! – Financial Forecasts
- 4Q Follow-Up – Frontier Management Inc. (7038 JP)
- EMCOR Group: Leveraging Prefabrication & Building Information Modeling (BIM)
- kopi-C with BRC Asia’s CEO: “We’ve become the leader in Singapore’s reinforcing steel fabrication industry”
Nippon Express (9147 JP): The Current Playbook
- Since the US$260 million secondary placement announcement, Nippon Express Holdings (9147 JP) shares are down 5.3% from the undisturbed price of JPY8,039 per share (1 March).
- Looking at recent large Japanese placements is instructive to understand the potential trading pattern. So far, Nippon Express shares have followed the pattern of previous large placements.
- The offering will likely be priced on 11 March. Investors who have participated in previous large Japanese placements tend to secure positive returns.
3Q Follow-Up – Copro-Holdings (7059 Jp)
- COPRO-HOLDINGS. Co., Ltd., (COPRO) announced its 3Q FY24/3 (9 months) results.
- Key consolidated figures included net sales of ¥17,496 mn (+28.8% YoY), operating profit of ¥1,406 mn (+63.0% YoY), ordinary profit of ¥ 1,480 mn (+70.8% YoY), and profit attributable to owners of parent of ¥936 mn (+79.7% YoY).
- COPRO-CONSTRUCTION. Co., Ltd., (formerly COPRO-ENGINEERED), which operates the Company‘s core business of construction technician dispatching, proactively increased the number of recruits amid the chronically serious shortage of labor against the backdrop of regulations capping overtime work to start in April 2024 and big construction projects.
Shanghai Zhida Technology Development Pre-IPO Tearsheet
- Shanghai Zhida Technology Development Co Ltd (SZTD HK) is looking to raise about US$130m in its upcoming Hong Kong IPO. Shenwan Hongyuan is the sole bookrunner.
- Shanghai Zhida Technology Development (SZTD) is a provider of electric vehicle (EV) home charging solutions.
- As per F&S, the firm was the world’s largest provider of EV home charging solutions in terms of sales volume of home EV chargers over its track record period.
Plug Power Inc.: New Contracts & 5 Major Growth Catalysts For 2024 & Beyond! – Financial Forecasts
- Plug Power’s Q4 earnings revealed both positive developments and challenges that the company faced during the quarter.
- Key highlights were its innovative green hydrogen projects and ongoing advancements in improving cash management, positively reflecting the company’s commitment towards a sustainable energy future.
- Plug Power’s most significant achievement during the Q4 period was the launch of their Georgia plant.
4Q Follow-Up – Frontier Management Inc. (7038 JP)
- The financial results were strong, as shown in the table below, and exceeded the company’s forecasts.
- The M&A Advisory Business was particularly strong in the 4Q, recovering from soft sales slightly down in the first 3 quarters, returning to 8% growth YoY in the 4Q.
- Sales by other main business segments remained firm, with the Management Consulting Business rising 17% YoY and the Revitalization Support Business up 174% YoY .
EMCOR Group: Leveraging Prefabrication & Building Information Modeling (BIM)
- The EMCOR Group reported an exceptional fourth quarter and a very strong 2023 overall.
- Revenue for the fourth quarter was $3.44 billion with an operating margin of 8.4%, significantly exceeding expectations and indicating 16.2% organic revenue growth.
- The total revenue for 2023 was $12.6 billion which demonstrates growth of 13.6% and was strictly organic in nature, with a 55% rise in operating income to $875.8 million for the year.
kopi-C with BRC Asia’s CEO: “We’ve become the leader in Singapore’s reinforcing steel fabrication industry”
- kopi-C with BRC Asia’s CEO: “We’ve become the leader in Singapore’s reinforcing steel fabrication industry’” After becoming one of Singapore’s largest reinforcing steel fabricators through an acquisition, BRC Asia plans to extend its reach to other markets.
- Incorporated in 1938, BRC Asia Limited (“BRC”) is a leading Pan-Asia prefabricated reinforcing steel solutions provider headquartered in Singapore and listed on the Singapore Stock Exchange.
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