Joshua Cooper

HKEX announce new rules to attract issuer and investors

Hong Kong Exchanges and Clearing announced new rules aimed at revitalizing Hong Kong as a preferred IPO venue. Effective July 1, 2025, independent non-executive directors can sit on up to six boards., with a three-year transition period for companies exceeding this limit to correct the situation. These changes aim to enhance board effectiveness, independence, and diversity.

January 14, 2025 at 08:05 am

Sheng Siong’s latest result triggers target price revisions

Sheng Siong Group published its 3Q24 business update on October 29, 2024. The company reported a 5% YoY increase in revenue to S$363.2mn. Following the announcement of these results, the company received multiple upward revisions to its target price. PhillipCapital raised its target price to S$1.74 with an “Accumulate” rating, while RHB Bank raised its target price to S$2.00 with a “Buy” rating. Sheng Siong’s stock price appreciated around 4% since the announcement of results.

January 10, 2025 at 07:13 am

REA Group kicks off fiscal year with strong 1Q results

REA Group reported its 1QFY25 results on 8 November 2024. The company reported an excellent 21% YoY increase in sales to A$413mn, driven by a 20% YoY increase in Australian revenue and a robust 42% YoY increase in Indian revenue. Stock was on uptrend since the result announcement and has hit an all-time-high of around A$257 on 5 December 2024.

January 09, 2025 at 07:56 am

Prada S.p.A: Miu Miu’s explosive growth boosts sales

Prada S.p.A. recently released its 3Q24 business update on October 30, 2024. The company reported an 18% YoY revenue growth at constant exchange rates, reaching EUR3.8bn. The growth was primarily driven by the exceptional performance of the Miu Miu brand. Retail sales for Miu Miu surged by 97% in 9M24 and by 105% in 3Q24 at constant FX rates, attributed to the brand’s strong identity, innovative collaborations, and successful product launches.

January 08, 2025 at 09:35 am

Japan Tobacco shares tumble amid mixed guidance

Japan Tobacco has revised its FY24 forecasts on October 31, 2024. The Group now expects total revenue of JPY3,163.5bn, compared to its previous guidance of JPY3,109bn, reflecting a YoY increase of 11.3%. The revised forecasts take into consideration the upward revisions of the pharmaceutical and tobacco businesses and are further aided by the contribution of Vector Group Ltd. (VGR), following its acquisition by the company. However, the net income has been revised downward by JPY8bn to JPY467bn, reflecting a 3.2% YoY decline.

January 08, 2025 at 09:25 am

ROUND ONE's monthly update sparks investor confidence

ROUND ONE Corporation published its November sales data on December 5, 2024. The company has witnessed a YoY increase of 6.1% in total sales from existing stores in Japan to JPY6.9bn. The growth was aided by a 6.4% rise in sales from Bowling to JPY1.5bn and further complemented by a 5.3% increase in sales from Amusement to JPY3.6bn. In the USA, the company demonstrated much stronger YOY growth of 18.1% in total sales, reaching USD41.4mn. This was driven by 18.6% in Amusement sales, amounting to USD30.8mn, and a 20.7% growth in Food, Party, etc. totaling USD6mn. Driven by the positive sentiments, the company’s stock price reacted strongly, surging 11.7% the next day and reaching an all-time high of JPY1,383 on December 23, 2024.

January 06, 2025 at 08:23 am

Baycurrent Inc: Title sponsorship agreement for the PGA TOUR

Baycurrent Inc (Baycurrent) announced about the multi-year sponsorship agreement signed for the PGA TOUR (premier golf tour tournament organization) in Japan. From 2025 onwards, PGA TOUR Tournament reimagined as “Baycurrent Classic” and relocates in “Yokohama Country Club”. By showcasing golf’s best players hailing from 28 countries, the PGA TOUR engages, inspires and positively impacts to the related parties. Virtually all tournaments are organized as non-profit organizations to maximize charitable giving. The company has entered this partnership with the hope of enhance brand recognition both domestically and internationally, as well as to enhance the corporate value.

January 02, 2025 at 07:26 am

Daiichi Sankyo: Voluntary withdrawal of MAA in the EU for Dato-DXd

Daiichi Sankyo and AstraZeneca have voluntarily withdrawn the marketing authorization application (MAA) in the EU for datopotamab deruxtecan (Dato-DXd) for the treatment of adult patients with locally advanced or metastatic nonsquamous non-small cell lung cancer (NSCLC) on December 24, 2024. The decision to withdraw the application was based on the TROPION-Lung01 phase 3 trial.

December 31, 2024 at 07:23 am

Bosideng International: Focus on core businesses boosts performance

Bosideng International (Bosideng) reported strong numbers for 1HFY25 (ended September 2024), in line with the recent positive trend. The company has consistently exceeded consensus revenue estimates in the last three quarterly reporting periods, thanks to revamped sales strategies, brand and product development, retail channel optimization, and digital transformation. Backed by positive fundamentals, the Group has announced an interim dividend of HKD0.06 per share for 1HFY25, marking a 20% increase YoY, with an attractive dividend yield of approximately 7%.

December 31, 2024 at 07:16 am

Goodman Group: Share slide following CIC stake sale

Goodman Group (GMG) share price fell more than 5% on 4 December 2024, biggest intraday fall in last four months. Share of the company slid following a media report stating that China Investment Corporation (CIC) was selling GMG stocks worth A$1.9bn (US$1.23bn). According to Reuters, CIC offloaded 2.6% (50.4mn shares) in Goodman Group. CIC owned approximately 7.84% stake in Goodman Group as of July 31, 2024.

December 27, 2024 at 07:57 am

Amano Corp: Positive performance across all business units

Amano Corporation (Amano) delivered encouraging 1HFY24 (ended September 2024) results on October 29, 2024. Net sales increased 20% YoY to JPY84.2bn, riding on the back of increased sales from Parking Systems, which grew 30.6% YoY to JPY45.8bn. The sales were also aided by the sustained growth in Information Systems and Environmental Systems, which grew by 11.6% and 6.4% to register sales of JPY18.1bn and JPY11.5bn, respectively. In addition, a recovery in sales volume of cleaning robots boosted sales of Clean Systems by 12.5% to JPY7.7bn. Geographically, new products drove the sales of Parking Systems in North America, while France in Europe continued to witness an increase in sales of Information Systems by addressing the needs of the customers. Overall, sales from overseas markets gained further traction by the depreciation of the Japanese Yen. Positive top-line performance translated to a 28.9% YoY increase in net profit to JPY7.2bn.

December 27, 2024 at 05:06 am

Giant Biogene Holding: Strong growth momentum continues in H1

Giant Biogene Holdings (GBH) reported solid 1H24 results, with revenue growing 58.2% YoY to RMB2.5bn, driven by continued expansion of product categories, deepening of online and offline channels, creation of star products and strengthening of marketing. However, Operating margin contracted by 175bps YoY to 42.8%, due to increased product sales volume, which resulted in higher material costs, higher logistics expenses, increase in frontline staff, and purchase of new equipment. The market responded positively to the results, with the stock price rising by over 25% post the announcement till date.

December 20, 2024 at 08:49 am

Northern Star Resources: Expands portfolio with De Grey Mining acquisition

Northern Star Resources Ltd (NST) announced that it has agreed to acquire 100% stake of De Grey Mining, through a share swap. Upon the completion of the transaction, NST will own DEG’s flagship project “Hemi”, a low-cost, long-life and large-scale gold development project in Western Australia. The Hemi Project is one of the largest undeveloped gold projects located in a Tier-1 mining jurisdiction, with an estimated annual gold production of 530kozpa over the first 10 years. Jarden research expects this acquisition to be 20% dilutive, as it will transfer material development, capital escalation, and permitting risks to Northern Star Resources' shareholders. The stock was down over 5% on December 2, 2024.

December 19, 2024 at 10:01 am

Bandai Namco Holding Inc: Share surge

Bandai Namco Holdings Inc. (Bandai) announced that a new title for the popular action role-playing game "Elden Ring" will be released next year. The company informed that it would publish the new title in international markets in 2025 and the Japanese release will be handled by the developer FromSoftware, a subsidiary of Japanese publishing giant Kadokawa. Since its launch in February 2022, Elden Ring, co-developed by Bandai and FromSoftware, has sold over 28.6 million copies globally. Bandai stated that the new title has been revamped to provide a fresh gaming experience, while retaining some elements from the original, such as enemies and weaponry. The market reacted positively to the news, with Bandai’s share price jumping over 7% the next day and rising over 10% since the announcement.

December 19, 2024 at 09:56 am

Evolution Mining: Gets green signal to extend Cowal gold operations

Evolution Mining (ASX: EVN) secured regulatory approval from New South Wales Department of Planning, Housing and Infrastructure on December 10, 2024, to extend its Cowal gold operations until 2042. The approval permits the continuation of open-pit mining at Cowal, the expansion of the E42 pit, and the creation of three additional open pits. Ore processing at the site will proceed at annual rate of up to 9.8mn tonnes. The stock has reacted positively to the news, rising around 5% on the same day.

December 17, 2024 at 09:57 am

Stock soars on robust 3Q results

Kingsoft delivered solid 3QFY24 results, revenue grew 42% YoY, while net profit jumped 14x YoY, following which brokerage firm Nomura raised its target price to HKD35 from HKD26, depicting an upward revision of over 34%. The revision by Nomura on November 20, 2024, also coincides with the news of the company’s non-wholly owned subsidiary, Kingsoft Office Software (KOSC) entering into an Advertisement Service Agreement with Xiaomi Singapore. These positive developments fired the stock to increase over 9% on November 20 and was up over 16% post earning. Over the last one year, the stock delivered returns of 36%, and 40% on YTD basis.

December 16, 2024 at 12:07 pm

MonotaRO Co., Ltd. : Aggressive sales strategy resulted in revenue expansion

MonotaRO Co., Ltd. (TYO:3064) reported a 14% YoY increase in sales for November, reaching nearly JPY24bn. The company's monthly sales data showed a consistent upward trend, with YoY growth recorded for each of the first eleven months of 2024. However, customer acquisition declined in November, with 88,600 new accounts compared to 98,100 in October. This sales growth is a continuation of the company’s aggressive expansion strategy, as reflected in its recently reported 9MFY24 results. Net sales increased by 13% YoY to JPY211.5bn, bolstered by the performance of its Korean subsidiary, NAVIMRO, which saw over a 10% YoY increase in sales to JPY7.3bn, driven by strong enterprise business performance. The Indonesian business also showed impressive growth, with sales rising by 32.5% YoY to JPY920mn during the same period. Operating income surged 18% YoY to JPY27.0bn, while net income attributable to owners of the parent grew 16.8% YoY to JPY18.9bn. The stock reacted positively to the earnings report, rising over 7% the next day and up more than 22% since the earnings.

December 12, 2024 at 11:59 am

Voltas Limited : Jefferies raises target price by 15% to INR2,030

Jefferies maintained their “Buy” rating and raised the target price for Voltas Ltd. (Voltas) to INR2,030 from INR1,770 on 31st October 2024, implying a 15% upside potential over previous day’s close. The increase in the target price was driven by Voltas strong performance in 1H25 and managements positive comments on increasing market share and volumes. Jefferies expects India’s domestic AC market to grow strongly his year, which should help Voltas as they are the market leaders in Unitary Cooling Products (UCP) with a 21% market share. Jefferies also sees India’s capex cycle recovering gradually, which should help drive Voltas’ order book.

December 09, 2024 at 10:16 am

NMDC Limited : Contract award of over USD300mn from Ta’ziz

NMDC has received a letter of award of over USD300mn from Ta’ziz (JV between Abu Dhabi National Oil Co. and Abu Dhabi Developmental Holding) on November 6, 2024. The award pertains to engineering, procurement and construction (EPC) work for the Port Package logistic project. The project is expected to be completed within the next 25 months.

December 06, 2024 at 10:14 am

Samvardhana Motherson International Limited : CLSA upgrades to Outperform and raises target price

On November 13, 2024, CLSA upgraded its rating on SAMIL to Outperform, with a new target price of INR190, implying an upside potential of 14%. CLSA is looking beyond the 2Q25 results that missed market expectations, which they attribute to the weak OEM demand scenario and recent acquisitions that are not yet baked into the numbers. They also see the recently de-levered balance sheet as a tailwind to future growth through acquisitions, and diversification efforts of management.

December 03, 2024 at 12:27 pm