5 May 2025 | 11:25AM HKT China Semis: Lithography expert call; local SPEs technology in development; talents, supply chain, experience are required elements We hosted an expert call on China Lithography recently. Key discussions were around the progress of Lithography development in China, supply chain support and the technology gap to overcome. Overall, the expert believes China's semiconductor industry is investing resources and budgets in order to develop lithography technology, amid the increasing deman ...

Liberty Latin America Ltd (LILA) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Speaker0 Good morning, ladies and gentlemen, and thank you for standing by. Today's call is being recorded. I'll now turn call over to Sean Fitzgerald, VP of Tax of Liberty Latin America. Speaker1 Good morning, and welcome to Liberty Latin America's First Quarter twenty twenty five Investor Call. At this time, all participants are in listen only mode. Today's formal presentation materials can be found under the Investor Relation ...

May 5, 2025 09:00 PM GMT Greater China Semiconductors | Asia Pacific Cloud semis: Heading into the 2H25 trough M Recent developments in the cloud semis space mean our conservative stance holds near-term, but we maintain our view that the cycle could trough in 2H25. Key Takeaways China CIO survey suggests potential downside in 2H25: China cloud capex tends to play catch-up in the late phase of a cloud capex upturn or even in a downturn (link). Our recent CIO survey points to datacenter build-out as a top spe ...

Hardware & Networking Cloud Capex Wrap-up: Robust Investment Momentum Continues, Contrary to Concerns Around Slowdown and Tariff Impact J P M O R G A N Meta, Microsoft and Google reported strong capex growth in the Mar-Q, with the three US Cloud Service Providers (CSPs) together reporting strong double-digit growth year-over-year in aggregate (+60% y/y). Importantly, the raised full-year outlook from Meta, the reiterated fiscal 2H outlook from Microsoft, and the reiterated full-year outlook from Google impl ...

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Summary of WuXi AppTec Co Ltd Conference Call Company Overview - **Company**: WuXi AppTec Co Ltd - **Industry**: Healthcare, specifically in pharmaceutical services - **Market Cap**: Rmb167,000 million - **Stock Rating**: Overweight - **Price Target**: HK$85.00, representing a 46% upside from the current price of HK$58.20 as of April 28, 2025 [11][11][11] Key Points Financial Performance - **1Q2025 Results**: Revenue and adjusted non-IFRS net profit increased by 21% and 40% year-over-year, respectively, exceeding estimates [14][14][14] - **2025 Guidance**: Revenue growth from continuing operations is projected at 10-15% year-over-year, translating to Rmb41.5-43.0 billion [14][14][14] - **Projected Revenue Growth**: Revenue is expected to increase by over 60% in 2025 [3][3][3] Capital Expenditure and Capacity - **Capex Increase**: Capital expenditure is expected to rise to Rmb7.0-8.0 billion in 2025, following a pull-back in 2023-2024 [3][3][3] - **Focus Areas**: Approximately 70% of capex will be allocated to development and manufacturing projects in Taixing (China), Singapore, and Delaware (US) [3][3][3] - **Capacity Expansion**: Both backlog and capacity are projected to more than double in 2025 [3][3][3] Market Dynamics - **Geopolitical Impact**: 60% of WuXi AppTec's revenue comes from US customers, but only 10% is directly shipped to the US. The company is sensitive to geopolitical tensions and tariffs, with a current incremental tariff of 20% on pharmaceuticals [4][4][4] - **Valuation Drivers**: Easing geopolitical tensions and tariff rates are crucial for improving valuation [4][4][4] Operational Insights - **Business Segments**: The TIDES (peptides and oligonucleotides) business is a significant driver of expansion [3][3][3] - **Capacity Metrics**: Solid-phase peptide synthesis manufacturing capacity is projected to exceed 100,000 liters by 2025 [8][8][8] Risks and Considerations - **Potential Upside Risks**: Favorable government policies and an inflection in Fed rates could lead to increased biotech funding and margin expansion [20][20][20] - **Downside Risks**: Risks include talent turnover, margin pressure from US business, global competition, and geopolitical risks [20][20][20] Conclusion WuXi AppTec Co Ltd is positioned for significant growth in 2025, driven by increased capital expenditure, capacity expansion, and strong revenue growth. However, the company faces challenges from geopolitical tensions and market dynamics that could impact its valuation and operational performance.

Compañía de Minas Buenaventura (BVN) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Speaker0 Good morning, ladies and gentlemen. Welcome to the Companion Gamingas Buenaventura First Quarter twenty twenty five Earnings Results Conference Call. At this time, all participants are in listen only mode. And please note that this call is being recorded. I would now like to introduce your host for today's call, Mr. Sebastien Valencia, Head of Investor Relations. Mr. Valencia, you may begin. Speaker1 Good morning, a ...

This account is managed by Noah's Arc Capital Management. Our goal is provide Wall Street level insights to main street investors. Our research focus is mainly on 20th century stocks (old economy) undergoing a 21st century transformation, but occasionally we'll write on companies that help transform 20th century firms as well. We look for innovations in a business model that will cause a stock to change dramatically. Associated with SA contributor Elijah Buell.Analyst’s Disclosure: I/we have no stock, optio ...

Enterprise Products Partners (EPD) Q1 2025 Earnings Call April 29, 2025 02:52 PM ET Speaker0 Thank you for standing by, and welcome to Enterprise Products Partners LP's First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. To remove yourself from the queue, you may press 11 again. I would ...

14 April 2025 | 12:15AM HKT China AI servers China Cloud capex to support growth ahead; Initiate Huaqin and Lingyi at Buy; Inspur at Neutral We initiate on the China AI servers supply chain: Inspur (brand), Huaqin (ODM), and Lingyi (component), and expect the supply chain to be driven by demand from their home market, China. In our global server report, we expect China Cloud capex to grow at 26% YoY in 2025E, and to stay at a similar high level in 2026E. As local foundation models enhance, we expect more ap ...