In today’s briefing:
- End of Mandatory Lock-Up Periods for 49 Companies in Korea in September 2023
- Record Fund Ownership in Six Taiwanese Companies
- Huawei Quietly Debuts Flagship Smartphone in Effort to Ride Sales Wave
- Alibaba Group Holding Limited: Making Huge Strides In AI Which Could Prove A Growth Catalyst! – Key Drivers
- AppLovin Corporation: A Laser-Focused Strategy That Is Paying Off Big Time! – Major Drivers
- [Xiaomi(1810 HK, SELL, TP HK$8.2) Update]: Huawei’s Impact on Xiaomi Will Be Meaningful in 2024
- Beep Launches SEA’s Largest ERoaming Network with Its Seed Funding Round
- Cisco Systems Inc.: Acquisition Of Oort & Other Major Developments
- Roblox Corporation: New Roblox Partner Program & Other Major Developments
- Snap Inc: The KeyDB Acquisition & Other Drivers
End of Mandatory Lock-Up Periods for 49 Companies in Korea in September 2023
- We discuss the end of the mandatory lock-up periods for 49 stocks in Korea in September 2023, among which 7 are in KOSPI and 42 are in KOSDAQ.
- These 49 stocks on average could be subject to further selling pressures in September and could underperform relative to the market.
- Among these 49 stocks, top five market cap stocks include Kakao Games (293490 KS), SK Oceanplant (100090 KS), Korea Zinc (010130 KS), Fadu (440110 KS), and Vaxcell-Bio Therapeutics (323990 KS).
Record Fund Ownership in Six Taiwanese Companies
- Delta Electronics and Wiwynn Corp among 6 Taiwan stocks at their highest levels of fund ownership among active Emerging Market funds.
- The combined weight in these 6 stocks has aggressively moved higher to 1.2% from less than 30bps in 2018.
- All stocks enter the top 15 most widely held companies in Taiwan, but potential for further buying is clearly there.
Huawei Quietly Debuts Flagship Smartphone in Effort to Ride Sales Wave
- Huawei Technologies Co. Ltd. launched a new flagship smartphone on Tuesday, in a discreet fashion and ahead of schedule, said to be powered by a self-developed chip that can rival the speed of 5G handsets, as the tech giant tries to shrug off the impact of U.S. sanctions and capitalize on robust quarterly sales growth in China.
- The company began offering the Mate 60 Pro at 6,999 yuan ($962) in its stores and online around noon, without prior advertisement other than an open letter that cited the early launch as a celebration of its Mate series reaching 100 million units in cumulative shipments.
- The company gave no detail about what kind of system-on-a-chip (SoC) the smartphone uses and whether the handset is compatible with 5G wireless networks.
Alibaba Group Holding Limited: Making Huge Strides In AI Which Could Prove A Growth Catalyst! – Key Drivers
- Alibaba Group Holding Limited managed to exceed expectations in terms of revenue and earnings.
- Their team’s efforts to create a thriving ecosystem and realize technology-driven innovation methods also show promising results.
- The overall sales growth for the Alibaba International Digital Commerce Group was 41%, and the retail division had revenue growth of 60% year over year.
AppLovin Corporation: A Laser-Focused Strategy That Is Paying Off Big Time! – Major Drivers
- AppLovin Corporation managed to exceed the revenue and earnings expectations of Wall Street.
- The Software Platform sector achieved significant revenue of $406 million, which reflects an increase of 28% over the previous year.
- With $334 million in sales from apps and $61 million in adjusted EBITDA for the second quarter, the company had an 18% margin.
[Xiaomi(1810 HK, SELL, TP HK$8.2) Update]: Huawei’s Impact on Xiaomi Will Be Meaningful in 2024
- Users are enthusiastic about the return of 5G Huawei smartphones, and thus we expect sales volume of Huawei devices to improve.
- If the combined share of Huawei+ Honor can reach 30/32% we estimate Xiaomi’s current 12.5% share of the China smartphone market could decline 0.8/1.3ppts, respectively.
- We maintain Xiaomi’s SELL and HK$ 8.2 TP, implying 26x FY23 PE. The increase in CY23 EPS reflects lowered OPEX, improved gross margin due to the impact of IC oversupply.
Beep Launches SEA’s Largest ERoaming Network with Its Seed Funding Round
- Singapore-based IoT transaction platform, Beep, has announced the launch of what it claims to be Southeast Asia’s largest electric vehicle roaming (eRoaming) network.
- Hyundai Motor Group Innovation Centre in Singapore (HMGICS), Tribecar, EVFY, Singapore Electric Vehicles, and Quantum Mobility are among the initial entities to use the network.
- Beep also announced the successful completion of its seed funding round, led by GGV Capital and Wing Vasiksiri.
Cisco Systems Inc.: Acquisition Of Oort & Other Major Developments
- Cisco Systems delivered an all-around beat in the previous quarter, accomplishing the company’s financial and operational goals.
- Additionally, Cisco produced solid margins, a significant operational cash flow, and solid shareholder value, returning $10.6 billion through share repurchases and rising cash dividends.
- Cisco Systems generated approximately $57 billion in sales, up 11% from the previous year and the fastest annual revenue growth rate in more than ten years.
Roblox Corporation: New Roblox Partner Program & Other Major Developments
- Roblox Corporation delivered disappointing results as the company could not meet the revenue and earnings expectations of Wall Street.
- Bookings reached $780 million, a 22% increase year on year.
- The initiative has been developed to transform brand innovation and establish a self-sustaining, worldwide advertising ecosystem within the Roblox platform.
Snap Inc: The KeyDB Acquisition & Other Drivers
- Snap delivered mixed results for the previous quarter, with revenues well below analyst expectations but managed an earnings beat.
- The user base continued to grow steadily, and Snap introduced innovative features like My AI, an AI-powered chatbot, to enhance the user experience.
- Despite temporary disruptions caused by changes in the ad platform, Snap remains optimistic about future growth.
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