In today’s briefing:
- #25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO
- Taiwan Banks – HFD Profit Figures Good, Tech Exposure Can Support Credit Metrics, Loan Growth
- US Battery and Solar Investments, One Year After, Part II
- Auctus on Friday – 05/07/2024
- Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total
#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO
- Reliance Retail Ventures will launch Shein in India, four years after its ban
- Indian Railways plans 10,000 non-AC coaches by 2025-26 to alleviate overcrowding issues
- The coal sector achieved a notable 10.2% growth in May, leading key infrastructure industries
Taiwan Banks – HFD Profit Figures Good, Tech Exposure Can Support Credit Metrics, Loan Growth
- Monthly high frequency data from Taiwan’s banks shows strong profit acceleration through May YTD, which will include insurance investment gains for some
- This can be driven by accelerating loan growth to technology companies, to related companies, indirectly and may explain in part, Taiwan’s leading loan growth rate vs other countries
- Credit metrics and net profit growth can be supported for Taiwan’s banks by a sector focus that differs from many others in the region and the world
US Battery and Solar Investments, One Year After, Part II
- One year after we started tracking solar investment in US, the planned capacity almost doubled to 123GW, comparing to addition of 32GW of capacity added in 2023;
- However, there is a lack of wafer, ingot and polysilicon capacity in planning. Only 7GW of ingot capacity is planned, vs. cell capacity rose from 8% of total to 43%;
- Chinese participation declined only slightly from 31% to 28%. Lack of wafer, ingot and polysilicon integration means cost of US production stays high. But overcapacity still restrains up stream profitability.
Auctus on Friday – 05/07/2024
- Panoro Energy (PEN NO)C; Target price of NOK52 per share: About to commence drilling in EG – The drilling rig has arrived in EG.
- The drilling campaign is about to commence.
- It will include two development wells plus an exploration well at the high impact Akeng Deep prospect.
Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total
- Beijing launched the use of medical social insurance (MSI) via online payments, marking MSI payable among all the 1st tier cities in China. But the policy only covers non-prescription;
- However, the progress for the online penetration of MSI payment was still slow, reaching only 3.6% of all MSI capable pharmacies and 0.8% of all pharmacies in China;
- The reason for the slow adoption is the vested, interlinked interests among local public hospitals, local MSI administrators and public security concerns over drug disbursement.
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