Financial Data and Key Metrics Changes - In Q4 2025, the company achieved organic revenue growth of over 10%, adjusted EBITDA growth of over 13%, and adjusted EPS growth of almost 12% for the quarter and nearly 14% for the full year [6][7] - The total run rate reached over $3.3 billion, growing 13%, with total asset-based fees (ABF) run rate of $852 million, growing 26%, and recurring subscription run rate of over $2.4 billion, growing over 9% [8][9] - The company has delivered 11 consecutive years of double-digit adjusted EPS growth [7] Business Line Data and Key Metrics Changes - The index business had its best quarter ever for new recurring subscription sales, with a growth rate of 18% [8] - In analytics, the company posted its second-best Q4 on record for new subscription sales, with subscription run rate growth of over 8% [19] - Private Capital Solutions saw recurring sales growth of 86%, supported by innovative new products [9][19] Market Data and Key Metrics Changes - Total ETF and non-ETF AUM linked to MSCI indices reached approximately $7 trillion, driven by record inflows into clients' ETF products, particularly in Europe [9] - Equity ETFs linked to MSCI indexes captured a record $67 billion of inflows during Q4, totaling $204 billion for the full year [17] - The company observed significant uptick in activity in Europe and EMEA, with subscription run rate in EMEA now higher than in the Americas [39] Company Strategy and Development Direction - The company is focused on leveraging AI to enhance its capabilities across various product lines, including analytics and custom index creation [10][31] - MSCI aims to have a fully integrated company where each product line benefits from and contributes to every other product line, amplifying financial growth [22] - The company will no longer maintain product line-specific long-term targets to better reflect its focus on integrated growth [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capitalize on favorable long-term secular trends and the resilience of its all-weather franchise [6][7] - The company is optimistic about the recovery in Europe and the potential for growth in sustainability and climate solutions, despite current challenges [66][70] - Management highlighted the importance of adapting to emerging risks and opportunities beyond traditional ESG factors, including AI and supply chain disruptions [10][70] Other Important Information - The company repurchased nearly $958 million of its shares at an average price of about $560 per share in Q4 [7] - Baer Pettit, the president, announced his retirement, effective March 1, and will be succeeded by Alvise Munari and Jorge Mina [24][26] Q&A Session Questions and Answers Question: Discussion on AI adoption and its impact on growth - Management highlighted that AI has been integrated into various operations and product lines, with significant projects aimed at enhancing analytics and custom index capabilities [30][31][34] Question: Insights on international flows and pricing opportunities - Management confirmed that there has been a significant uptick in activity in Europe and EMEA, with subscription run rates exceeding those in the Americas, indicating a positive trend in international flows [39][40] Question: Performance of private assets and future trends - Management noted strong sales in Private Capital Solutions, driven by new offerings and a positive outlook for growth in this segment [46][49] Question: Free cash flow dynamics and projections - Management discussed expected increases in cash taxes and interest expenses impacting free cash flow in 2026, but emphasized strong underlying business dynamics [51][54][56] Question: Recovery in ESG market and future expectations - Management indicated that while recovery in Europe is underway, the U.S. market remains challenging, but there is potential for growth in sustainability solutions [66][70]

Financial Data and Key Metrics Changes - Southern Copper achieved record net sales of $13.4 billion in 2025, a 17% increase from 2024 [4][13] - Adjusted EBITDA reached a record high of $7.8 billion, reflecting a 22% increase over 2024 [5][15] - Net income for 2025 was $4.3 billion, which is 28% higher than in 2024 [19][20] - Operating cash cost per pound of copper before by-product credit was $2.17, up from $2.13 in 2024 [18] Business Line Data and Key Metrics Changes - Copper production decreased by 1.8% in 2025 to 956,270 tons, slightly below the planned 965,000 tons [8] - Molybdenum production increased by 7.4% year-over-year in 2025, totaling 31,200 tons [10] - Silver production rose by 15% in 2025, reaching 24 million ounces [11] - Zinc production increased by 36% in 2025, totaling 165,500 tons [12] Market Data and Key Metrics Changes - The average copper price on the London Metal Exchange increased by 21% to $5.03 per pound in Q4 2025 [5][6] - Molybdenum prices averaged $22.75 per pound in Q4 2025, a 5% increase from the previous year [9] - Silver prices surged by 74% in Q4 2025, averaging $54.48 per ounce [10][11] - Zinc prices increased by 4.3% in Q4 2025, averaging $1.44 per pound [12] Company Strategy and Development Direction - The company aims to produce 1.6 million tons of copper at the lowest competitive cost per ton [5] - Southern Copper is focusing on enhancing productivity and cost efficiency while investing over $20.5 billion in capital projects in Peru and Mexico [20][21] - The Tia Maria project is currently under construction, with an estimated capital budget of $1.8 billion and expected to generate significant economic benefits upon completion [21][22] Management's Comments on Operating Environment and Future Outlook - Management anticipates a copper market deficit of about 320,000 tons for 2026, influenced by demand from electric vehicles and AI power centers [6][77] - The company is optimistic about maintaining strong production levels despite challenges in ore grades at certain operations [59][88] - Management believes that the inflationary pressures have stabilized, with currency appreciation being a more significant factor affecting costs than inflation itself [31][32] Other Important Information - The company received various ESG accreditations, including the Copper Mark for compliance with tailings management standards [26][27] - Southern Copper announced a quarterly cash dividend of $1 per share, payable on February 27, 2026 [28] Q&A Session Summary Question: Cost guidance and inflation impact - Management indicated that inflation has stabilized, with currency appreciation being a more significant concern [31][32] Question: Silver production expectations for 2026 - Management confirmed a guidance of 24 million ounces for silver production in 2026, with potential for improvement based on ore grades [34][35] Question: Molybdenum production decline reasons - Management explained that lower ore grades at certain operations are expected to impact molybdenum production in 2026 [40][42] Question: Tia Maria project capital expenditure timing - Management expects to disburse approximately $508 million for Tia Maria in 2026, with construction completion anticipated by mid-2027 [46][50] Question: Long-term production guidance - Management provided a forecast of 911,400 tons for 2026, with expectations for gradual increases in subsequent years [59][60] Question: Copper market dynamics and price sustainability - Management noted a potential copper market deficit and highlighted the impact of demand from electric vehicles and AI [77][78] Question: Strategy for Buenavista concentrator - Management confirmed the focus on zinc production due to favorable ore grades, with flexibility to shift back to copper if price dynamics change [80][81]

Financial Data and Key Metrics Changes - Southern Copper achieved record net sales of $13.4 billion in 2025, a 17% increase from 2024 [3][12] - Adjusted EBITDA reached a record high of $7.8 billion, reflecting a 22% increase over 2024 [4][14] - Net income for 2025 was $4.3 billion, which is 28% higher than in 2024 [4][18] - Operating cash cost per pound of copper before by-product credit was $2.17 in 2025, up from $2.13 in 2024 [16][19] Business Line Data and Key Metrics Changes - Copper production for 2025 was 956,270 tons, a decrease of 1.8% year-on-year [6][19] - Molybdenum production increased by 7.4% year-over-year in 2025, totaling 31,200 tons [9][19] - Silver production rose 15% in 2025, reaching 24 million ounces [10][19] - Zinc production for 2025 increased by 36%, totaling 165,500 tons [11][19] Market Data and Key Metrics Changes - The average copper price on the London Metal Exchange increased by 21% to $5.03 per pound in Q4 2025 [4][5] - The COMEX market saw a 22% increase in copper prices, averaging $5.15 per pound [5] - A copper market deficit of approximately 320,000 tons is estimated for 2026 [5][74] Company Strategy and Development Direction - The company aims to produce 1.6 million tons of copper at the lowest competitive cost [4] - Focus on enhancing productivity and cost efficiency while maintaining a strong commitment to sustainable growth [2][4] - Significant capital investment program exceeding $20.5 billion for projects in Peru and Mexico [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that inflation impacts are being mitigated by currency appreciation rather than specific inflation [29] - The company expects relatively flat operating costs per pound due to strong by-product production [30] - There is optimism regarding the Tia Maria project, which is expected to generate significant economic benefits for the region [21][92] Other Important Information - The company received the Copper Mark accreditation for compliance with global tailings management standards [24] - A quarterly cash dividend of $1 per share was announced, payable on February 27, 2026 [26] Q&A Session Summary Question: Any updated thoughts on cost guidance? - Management indicated that inflation impacts are less significant than currency appreciation effects [29] Question: Guidance on costs for the next quarter or year? - Costs are expected to remain relatively flat on a per-pound basis, supported by strong by-product production [30] Question: Ability to increase silver production in 2026? - Current guidance for silver production is set at 24 million ounces, with potential for improvement based on ore grades [31][32] Question: Reasons for expected decline in molybdenum production in 2026? - Lower ore grades in certain operations are anticipated to impact molybdenum production [36][38] Question: Update on Tia Maria project capital expenditures? - The company plans to disburse approximately $508 million for Tia Maria in 2026, with construction expected to finish by mid-2027 [42][46] Question: Impact of higher copper prices on project development? - Higher prices generally facilitate project development, but illegal mining remains a challenge [68] Question: Overview of copper market dynamics? - A deficit of 320,000 tons is expected in the copper market, with demand driven by electric vehicles and AI [74] Question: Strategy for zinc production at Buenavista? - The focus on zinc production will continue in 2026, with adjustments made based on price dynamics [77][78] Question: Lead time for SX-EW operation at Tia Maria? - The expectation is to have the SX-EW plant operational by the second half of 2027 [88][89] Question: Current relationship with the Mexican government regarding project approvals? - There is a generally improved environment for project approvals in Mexico [95]

Core Insights - Lightpath received a perfect score of 100 and a 5-Star Rating on the 2025 GRESB Infrastructure Asset Benchmark Report, ranking first among private data transmission companies in the fiber networks sector in the Americas [1] - The GRESB 5-Star Rating places Lightpath in the top 20% of all participating entities, achieving two designations: Infrastructure Asset Super Class Leader and Sector Leader – Data Infrastructure [2] - Lightpath's score of 97 in the 2024 GRESB Report demonstrates consistent performance in sustainability metrics [2] Company Overview - Lightpath is an all-fiber connectivity provider that offers a comprehensive portfolio of custom-engineered connectivity solutions, emphasizing performance, reliability, and security [5] - The company has been trusted by thousands of enterprises, governments, and educators for over 30 years to power their innovation [5] - Lightpath is jointly owned by Optimum Communications, Inc. and Morgan Stanley Infrastructure Partners [5] ESG Commitment - The achievement of a perfect GRESB score highlights the company's commitment to sustainability, as emphasized by its leadership [4] - Lightpath aims to embed sustainability principles into its core strategy and decision-making processes [4] - The internal teams focused on ESG goals are crucial in driving progress and setting new benchmarks for the industry [4]

Core Insights - CCSC Technology International Holdings Limited has launched "eNaviX," a carbon footprint monitoring system aimed at small and medium-sized enterprises (SMEs), marking a strategic shift from its OEM and ODM operations to direct end-user products [1][4] Product Overview - eNaviX offers a low-cost, easy-to-deploy solution for ESG carbon footprint monitoring and energy management, featuring patented architectures for intelligent cooling and compatibility with third-party carbon data platforms [2][3] - The system supports real-time carbon monitoring, energy efficiency quantification, and carbon credit monetization through a comprehensive energy management platform [2] Market Context - The launch of eNaviX is a strategic response to tightening global carbon regulations, including the European Union's Carbon Border Adjustment Mechanism and similar measures proposed in other major economies [3] - By providing an end-to-end service, eNaviX aims to help SMEs mitigate compliance risks and reduce energy costs in the face of increasing regulatory pressures [3] Company Vision - The CEO of CCSC emphasized that eNaviX addresses the challenges SMEs face in monitoring their carbon footprint, aiming to deliver long-term cost savings and generate carbon credit revenue [4] - The introduction of eNaviX represents a significant milestone for CCSC, as it marks the company's first product directly serving end users and signifies a new chapter in its business strategy [4]

First Quarter Fiscal 2026 Financial results and highlights For the three months ended December 31, 2025 and 2024 January 28, 2026 to declare and pay dividends, interest rate fluctuations and changes in creditworthiness and credit ratings; as well as other risks identified or incorporated by reference in our presentations, in CGI's quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR+ at www.sedarplus.ca) and the U.S. Securitie ...

Appointment strengthens governance, R&D partnerships, and ESG-by-design as Algo8 scales its Industrial AI platform for asset-intensive industriesVANCOUVER, British Columbia, Jan. 28, 2026 (GLOBE NEWSWIRE) -- GoGo AI Network Inc. (CSE: GOGO) (OTC: GOGAF) (FSE: 4E9) (“GoGo” or the “Company”), is pleased to announce that Prof. Ashutosh Sharma, a Padma Shri Awardee has been appointed to the Global Advisory Board of Algo8 AI, one of GoGo’s core portfolio companies. The appointment reinforces Algo8’s long-term st ...

Core Insights - Samsung Biologics has achieved the EcoVadis Platinum Sustainability Rating, the highest recognition for corporate sustainability performance, placing it in the top one percent of evaluated companies globally [1][2][10] Sustainability Performance - The EcoVadis rating evaluates corporate social responsibility across four areas: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement [2] - Samsung Biologics was previously awarded the Gold Sustainability Rating in 2024, indicating a consistent improvement in sustainability practices [3] Management Commitment - John Rim, President and CEO, emphasized the company's commitment to responsible business practices and long-term partnerships that contribute to a sustainable healthcare ecosystem [4] - The company has enhanced sustainability initiatives, including increased use of renewable energy and improved ethical compliance frameworks [4] Industry Engagement - Samsung Biologics received an 'A' rating in Water Security from the Carbon Disclosure Project (CDP) in December 2025 [4] - As a Champion of the Sustainable Markets Initiative Health Systems Task Force, the company engages global suppliers in decarbonization efforts [4] Manufacturing Capacity - Samsung Biologics has a combined biomanufacturing capacity of 785,000 liters, with an additional 60,000 liters expected from a facility acquisition in Rockville, Maryland, by the end of Q1 2026 [7] - The company utilizes advanced technologies for various biopharmaceutical modalities, including multispecific antibodies and mRNA therapeutics [7] Operational Excellence - The ExellenSâ"¢ framework is implemented across the manufacturing network to ensure standardized designs and processes, enhancing manufacturing continuity [8] - The global manufacturing network includes operations in Korea, the U.S., and Japan, with a focus on delivering high-quality biomedicines [9]

未来，国海证券将继续秉持专业专注、全心全力的理念，以客户为中心，不断提升综合金融服务能力， 携手合作伙伴共同推动行业高质量发展，为客户、股东与社会创造可持续价值。 国海证券长期致力于可持续高质量发展，连续入选"国有企业上市公司ESG 先锋100指数"，多次荣获 ESG与社会责任相关奖项，此次获评正是对公司长期践行社会责任、对标国际标准的积极肯定。 国海证券研究所作为"领航研究机构"，已形成覆盖超30个行业、9大板块的矩阵式研究体系，连续多年 在新财富等权威评选中屡获佳绩，报告产出量与市场影响力持续攀升，公募佣金分仓排名稳步前进，彰 显了扎实的投研底蕴与市场话语权。国海证券资管始终以"追求可持续的绝对收益"为核心理念，围 绕"低波动、低回撤、有竞争力"的管理目标，持续优化完善相应的投研体系，加强加深对多资产、多策 略的布局、投资与研究，对投资和研究进一步进行了科学化细化和专业化分工，围绕客户需求打磨产品 力。国海证券持续推进财富管理转型，以"她财富"品牌为抓手，深耕普惠金融与财富管理服务，通过内 容创新与服务模式升级，有效触达并服务广大投资者，助力公司赢得"卓越财富管理机构"称号。 在近日举办的"共同发声 价值 ...

近期，国家统计局公布2025年全国房地产市场相关数据。2025年，全国房地产开发投资82788亿元，比上年下降17.2%；2025年12月，全国70个大中城市 中，新房价格环比上涨的城市有6个，同比上涨的城市有5个。2026年会不会是房价止跌回暖的转折点？如果市场真的慢慢回暖，普通人该怎么办？是该继 续观望，还是可以看看机会？未来的房子还会是好的资产吗？居住会有哪些新变化？本文中，高和资本合伙人苏鑫（中欧EMBA 2003）结合个人在行业 中的经验与洞察，探讨2026年房地产的底部确认、面向2030年行业模式的重构，以及资本运作的未来趋势。 01 破局：2026，房地产的 L形底部与价值回归 2026年，房地产能触底吗？这是目前所有人心头最大的悬念。 要回答这个问题，我们不能仅凭直觉，而需关注几个核心先行指标的客观变化。当下的市场，正在经历一场残酷但必要的出清。 首先看租金回报的变化。长期以来，住宅收益主要靠资本增值（房价上涨），而忽视出租收益。但数据正在发生质的变化：目前30个重点城市住宅租金回 报率中位数已达2.06%，超过55%的小区回报率逾2%。当租金回报率开始高于银行存款利率时，资产的金融属性便发生 ...