In today’s briefing:
- China Consumption Weekly (16 Sep 2024): Alibaba, Tencent, JD.com, Kuai, Hive Box
- Intel’s Make-or-Break Moment: How the U.S. Government is Fighting to Save America’s Chip Giant
- PC Monitor: Microsoft Copilot Wave 2 Unveils Major AI Boost; Reiterate Structural Long for PC Makers
- Tech Supply Chain Tracker (17-Sep-2024): Luxury EV market surges, mass market lags.
- Permira’s $7.2 Billion Bet on Squarespace: What Makes it an Attractive Acquisition?
- Freebit Co Ltd (3843 JP): Q1 FY04/25 flash update
China Consumption Weekly (16 Sep 2024): Alibaba, Tencent, JD.com, Kuai, Hive Box
- Alibaba’s Taobao and Tmall apps decide to accept WeChat Pay, the online payment way from Tencent.
- JD announced that it will raise employee salaries up to 20 months within two years.
- Hive Box, the market dominator of parcel locker in China, submitted its IPO proposal.
Intel’s Make-or-Break Moment: How the U.S. Government is Fighting to Save America’s Chip Giant
- Intel Corporation, once the unchallenged leader in the semiconductor space, has recently found itself in a precarious position.
- With its stock prices plummeting and revenues falling, Intel is struggling to regain its footing in a market dominated by foreign giants like TSMC and Samsung.
- The U.S. government, through multiple initiatives and significant financial commitments, has stepped in to rescue the beleaguered company, seeing it as crucial to both national security and economic competitiveness.
PC Monitor: Microsoft Copilot Wave 2 Unveils Major AI Boost; Reiterate Structural Long for PC Makers
- Microsoft today announced a major Copilot update, called “Wave 2”, introducing a new collaborative interface and enhanced Copilot capabilities across all major Office apps.
- Copilot continues to gain momentum with large corporations, as Microsoft announced today that Vodafone has adopted it for 68,000 employees.
- We remain Structurally Long PC Makers – We continue to believe Microsoft’s Copilot will drive PC upgrades as users recognize the productivity benefits of faster ‘AI PCs’.
Tech Supply Chain Tracker (17-Sep-2024): Luxury EV market surges, mass market lags.
- European EV market divided with luxury segment growing rapidly but mass market stagnating, reflecting consumer preferences.
- Tata announcing construction of two new fabs in India highlights increasing investment in semiconductor manufacturing in the country.
- Samsung Display preparing to supply Apple with foldable displays in 2024 showcases the competition and advancements in tech industry.
Permira’s $7.2 Billion Bet on Squarespace: What Makes it an Attractive Acquisition?
- Squarespace, a leading platform in website design and digital services, has attracted attention from private equity firm Permira with a revised buyout bid of $46.50 per share, valuing the deal at $7.2 billion.
- While this offer comes after concerns from proxy advisory firm ISS that the initial sale process undervalued the company, Permira’s renewed interest signals a strong belief in Squarespace’s long-term growth potential.
- Squarespace presents an attractive opportunity given its strong financial performance, with a 19% year-over-year revenue increase and a growing base of over 4.9 million subscriptions.
Freebit Co Ltd (3843 JP): Q1 FY04/25 flash update
- Q1 FY04/25: Revenue JPY13.3bn (-5.3% YoY), Operating profit JPY1.5bn (-12.1% YoY), Recurring profit JPY1.5bn (-10.6% YoY), Net income JPY814mn (-5.7% YoY).
- Business support services for MVNOs: Revenue JPY2.5bn (+4.9% YoY), Operating profit JPY325mn (-29.7% YoY).
- 5G Homestyle services: Revenue JPY6.2bn (-18.2% YoY), Operating profit JPY769mn (-23.7% YoY), excluding fiscal year-end change, revenue +5.9% YoY, operating profit +26.0% YoY.
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