Core Viewpoint - Neway Group (01686.HK) reported strong financial performance for the fiscal year ending June 30, 2025, driven by increased capacity from existing facilities and new data centers, such as the first phase of MEGA IDC [1] Financial Performance - Revenue increased by 10% year-on-year to HKD 2.938 billion [1] - EBITDA rose by 15% year-on-year to HKD 2.128 billion, with profit margin improving from 69% to 72% [1] - Net profit attributable to shareholders increased by 8% year-on-year to HKD 979 million [1] Operational Efficiency - The company achieved strong operational cash flow, with net cash generated from operating activities (excluding changes in working capital) increasing by 23% year-on-year to HKD 2.063 billion [1] - The improvement in profit margins reflects enhanced operational efficiency and effective cost management [1] Dividend Announcement - The board proposed a final dividend of HKD 0.12 per share for the fiscal year ending June 30, 2025, subject to approval at the 2025 annual general meeting, with distribution scheduled for November 20, 2025 [1]

Core Viewpoint - 招银国际报告指出，亚马逊第二季度营收和营业利润均超出市场预期，显示出公司运营效率的改善和盈利能力的增强 [1] Financial Performance - 亚马逊第二季度营收为1677亿美元，按年增长13.3%，超出招银国际和市场预测3.1%及3.4% [1] - 总营业利润为192亿美元，按年增长30.7%，超出招银国际和市场预测10.6%及13.1% [1] Future Guidance - 亚马逊管理层指引第三季度营收为1740亿至1795亿美元，按年增长9.5%至13%，市场预期为1730亿美元 [1] - 第三季度营业利润预期为155亿至205亿美元，市场预期为194亿美元 [1] Target Price Adjustment - 招银国际上调亚马逊2025至2027年营收或营业利润预测1%至4%及3%至6% [1] - 目标价由247美元上调至252美元，维持"买入"评级 [1] - BMO Capital也上调亚马逊目标价至280美元 [1]