16 June 2025 | 10:20PM HKT China Healthcare Read across from our global healthcare conference and investor feedback from US marketing We participated in the 46th Global Healthcare Conference (June 9-11) and met with 20+ US investors across Miami and New York. Discussions centered on the momentum behind China biotech's re-rating (+72% YTD, vs +17% for MXCN, see Exhibit 1), driven by a surge in licensing-out deals, particularly in PD-1/VEGF bispecifics, which validated asset quality and innovation. Investors ...

Group 1 - Khaveen Investments is a global investment advisory firm serving high-net-worth individuals, corporations, associations, and institutions [1] - The firm offers comprehensive services including market and security research, business valuation, and wealth management [1] - The flagship Macroquantamental Hedge Fund maintains a diversified portfolio across various asset classes, geographies, sectors, and industries [1] Group 2 - The investment approach integrates top-down and bottom-up analysis, blending global macro, fundamental, and quantitative strategies [1] - Core expertise lies in disruptive technologies such as Artificial Intelligence, Cloud Computing, 5G, Autonomous and Electric Vehicles, FinTech, Augmented and Virtual Reality, and the Internet of Things (IoT) [1]

Industry Overview - The analog/mixed signal semiconductor market is expected to continue growing in 2025, following a strong performance in 2024, despite macro and geopolitical uncertainties, particularly related to China [1][8] - The World Semiconductor Trade Statistics (WSTS) projects an 11.2% growth in semiconductors this year, driven by a 13.4% increase in integrated circuits (ICs) [2] - The Americas are expected to see the fastest growth at 18%, followed by Asia Pacific at 9.8%, Europe at 3.4%, and Japan at 0.6% [3] Market Drivers - Key drivers for growth include artificial intelligence (AI), cloud infrastructure, and advanced consumer electronics [3][15] - The automotive market is influenced by electrification and increased electronics usage in vehicles, with China being a significant driver [5][11] - Industrial end markets are expected to grow due to the adoption of new technologies such as AI, smart cities, and IoT [4] Company Insights - Semtech Corp. (SMTC) focuses on analog and mixed-signal semiconductors for various markets, with a strong emphasis on R&D and margin expansion [28][30] - Semtech's revenue and earnings are projected to increase by 14.2% and 88.6% in 2026, respectively [30] - Analog Devices, Inc. (ADI) is well-positioned for long-term growth with innovative product development and strong customer engagement [33][34] - ADI's revenue and earnings are expected to grow by 12.5% and 15.8% in 2025, respectively [35] Market Performance - The semiconductor industry has experienced a decline of 15.1% over the past year, while the broader technology sector gained 6.4% [23] - The industry currently trades at a forward P/E ratio of 28.21X, which is a premium compared to the S&P 500's 21.86X [26] Geopolitical Factors - Geopolitical tensions, particularly between the U.S. and China, pose risks to the semiconductor supply chain, which is globally distributed [18][19] - The ongoing macroeconomic uncertainties, including high interest rates and tariff concerns, are impacting demand in the industrial end market [13][14]

Core Insights - Lifeway Foods, Inc. has announced the establishment of National Kefir Day, to be celebrated annually on June 18, recognizing the cultural and nutritional significance of kefir and the company's legacy in promoting gut health for nearly 40 years [1][3] Group 1: Event Details - The official proclamation will occur at a press event in Chicago, featuring remarks from key leaders in government, medicine, and nutrition, including Lifeway's President and CEO Julie Smolyansky [2] - The event will highlight the connection between gut health and chronic disease prevention, with Smolyansky discussing kefir's role in supporting immunity and overall wellness [2] Group 2: Company Initiatives - Lifeway Foods aims to promote gut health, sustainability, and mindful nutrition through National Kefir Day, reflecting a cultural shift towards fermented foods for better health [3] - The company will distribute free Lifeway Kefir samples in major cities including Chicago, New York, Los Angeles, and Miami on June 18, and will sponsor a drone show over Lake Michigan to celebrate Chicago as the "Kefir Capital of the World" [5] Group 3: Marketing and Engagement - Lifeway is launching a tattoo challenge as part of the National Kefir Day festivities, rewarding fans who showcase their love for the brand with a year of free kefir [6] - Participants are encouraged to share photos or videos of their Lifeway-inspired tattoos on social media platforms [7] Group 4: Company Background - Lifeway Foods is recognized as a leading supplier of probiotic kefir and has expanded its product line to include various cheeses and a ProBugs line for children, with products sold in multiple countries [8]

PowerFleet (AIOT) Q4 2025 Earnings Call June 16, 2025 08:30 AM ET Company Participants David Wilson - CFOSteve Towe - CEO & DirectorMelissa Ingram - Chief Corporate Development OfficerCraig Fisk - EVP - Sales & Marketing NAGary Prestopino - Managing DirectorAlexander Sklar - Vice President Conference Call Participants Scott Searle - MD & Senior Research AnalystAnthony Stoss - AnalystDylan Becker - Research AnalystGreg Gibas - VP & Senior Research Analyst Operator Greetings. Welcome to PowerFleet's Fourth Qu ...

American Rebel Holdings Inc American Rebel Light Beer With a New Agreement for Southwestern Virginia and Active Distribution across 11 States Since Launching in September 2024, American Rebel Light Beer – America’s Patriotic Beer Continues its Rapid Rise as America’s Fastest Growing Beer NASHVILLE, TN,, June 16, 2025 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) ("American Rebel" or the "Company"), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, an ...

市场研究机构Counterpoint Research每次更新全球蜂窝物联网模组市场的跟踪数据，都会引发业界高度关注，近日，Counterpoint更新了2025年第一季度市 场数据，全球蜂窝物联网模组出货量同比增长16%，主要是由印度、中国和腊梅的强劲需求驱动的。出货量前五的企业均为中国企业，这五家企业出货量 已占据全球总量的69%。过去几年，中国企业在全球蜂窝物联网模组市场中呈现出集中度的特点，似乎中国蜂窝物联网模组在全球"所向披靡"，但需要清 晰认识到，该领域依然面临着突出的挑战，尤其是中国企业在海外拓展市场过程中需要深入关注一些核心问题。 中国企业依然拥有较高市场集中度 Counterpoint发布的2025第一季度数据显示，移远通信、中国移动、广和通、日海、利尔达这5家中国企业占据了全球蜂窝物联网模组前五位置，5家厂商 出货量占全球出货量比例达到69%。 其中，移远通信依然保持第一的位置，而且借助其占全球出货量37%的比例，与其他厂商保持较大差距，第一季度移远出货量同比增长了17%，略高于全 球平均增速；而中国移动在第一季度出货量实现了77%惊人的高速增长，使其从2024年第一季度略低于广和通的第三 ...

Core Viewpoint - WISeKey International Holding Ltd has appointed Rolf Gobet to its Strategic Advisory Committee, enhancing its leadership in cybersecurity, blockchain, and IoT sectors [1][6]. Company Overview - WISeKey is a global leader in cybersecurity, digital identity, and IoT solutions, operating as a Swiss-based holding company with several operational subsidiaries [6][8]. - The company has over 1.6 billion microchips deployed across various IoT sectors, playing a vital role in securing the Internet of Everything [7]. Rolf Gobet's Experience - Rolf Gobet brings over three decades of experience in managing complex public-private projects, including leading the implementation of the world's first internet voting solution in collaboration with WISeKey [3][4]. - He was instrumental in developing TOSA, the world's first fully electric bus system that charges on the go, showcasing his ability to unite stakeholders from government, industry, and academia [4][5]. - Gobet has directed the Office for the Promotion of Industries and Technologies (OPI) for over 10 years, supporting the economic development of various companies [5]. Strategic Importance - Carlos Moreira, Founder and CEO of WISeKey, emphasized that Gobet's pioneering achievements and vision for sustainable innovation make him a valuable asset to the company's global mission [6].

| 指数 | 收盘 | | 涨跌（％） | | | --- | --- | --- | --- | --- | | 名称 | （点） | 1 日 | 5 日 | 1 月 | | 上证指数 | 3377 | -0.75 | 0.06 | -0.25 | | 深证综指 | 2001 | -1.31 | 0.04 | -0.33 | | 风格指数 | 昨日表现 | 1 个月表现 | 6 个月表现 | | --- | --- | --- | --- | | | （％） | （％） | （％） | | 大盘指数 | -0.75 | -1.04 | -1.47 | | 中盘指数 | -0.8 | -0.62 | -6.18 | | 小盘指数 | -1.36 | -0.88 | -2.7 | | 行业涨幅 | 昨日涨 | 1 个月涨 | 6 个月涨 | | --- | --- | --- | --- | | 油服工程 | 6.41 | 11.9 | 4.09 | | 地面兵装Ⅱ | 4.68 | 0.26 | 9.33 | | 贵金属 | 3.9 | 9.5 | 32.64 | | 军工电子Ⅱ | 1.74 | -0.65 ...

行业研究丨深度报告丨家用电器 [Table_Title] 如何看待小米大家电的崛起和影响？ %% %% %% %% research.95579.com 1 丨证券研究报告丨 报告要点 [Table_Summary] 小米集团 2023 年提出"人车家全生态"战略，通过澎湃 OS 系统整合手机、家电、汽车等业 务，推动智能硬件的无缝连接。小米家电业务凭借差异化定价、爆款策略和生态体系助力，实 现高增长，尤其空调业务销量已经跻身行业前列。当前，空调行业龙头品牌积淀仍然深厚，小 米激发龙头企业积极学习并优化经营策略，有望给行业带来新活力。 分析师及联系人 [Table_Author] 陈亮 SAC：S0490517070017 SFC：BUW408 请阅读最后评级说明和重要声明 2 / 22 %% %% %% %% research.95579.com 2 家用电器 cjzqdt11111 [Table_Title2] 如何看待小米大家电的崛起和影响？ [Table_Summary2] 概览：打造人车家生态体系，小米大家电快速突破 小米集团自 2010 年成立以来，致力于智能手机、IoT 与生活消费产品、智能电动 ...