Financial Data and Key Metrics Changes - Revenue grew by 13.6%, reaching HKD 45.5 billion, while profit attributable to equity shareholders increased by 34.7%, reaching HKD 610 million, with an EPS of HKD 0.4406 and ROE of 13.7%, significantly higher than the Hang Seng Index average ROE of 10.94% [3] - The company has maintained a steady growth in revenue since being listed, with a CAGR of 24% and an average annual growth rate of 28% for net profit [4] Business Segment Data and Key Metrics Changes - Enterprise Systems revenue increased by 14.1%, from 22.5 billion yen to 25.7 billion yen, while Consumer Electronics grew by 7.5%, from 15.9 billion yen to 17.2 billion yen [6] - Cloud computing revenue grew exponentially by 67.9%, from 1.56 billion yen to 2.61 billion yen [7] Market Data and Key Metrics Changes - North Asia revenue increased from 26.4 billion yen to 28.7 billion yen, while Southeast Asia grew by 22.5%, from 13.6 billion yen to 16.7 billion yen [7] - Southeast Asia saw significant growth in various countries: Thailand (50%), Philippines (45.4%), Malaysia (31%), and Indonesia (30%), with Singapore experiencing a revenue decrease of 19% [10][11] Company Strategy and Development Direction - The company aims to become one of the largest ICT industry solutions technology platforms in the Asia Pacific region, focusing on digital construction and maintaining a leading position in the industry [15] - The strategy includes enhancing cross-border payment efficiency through innovative technologies like stablecoins and creating value in the digital economy [2] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the sustainable growth of AI computing demand, which has driven revenue in Southeast Asia [20] - The company plans to continue investing in AI and cloud capabilities, with expectations of further growth in these areas [24][30] Other Important Information - The company maintains a stable dividend payout policy at around 35% and has no immediate plans to increase the payout ratio [31] - There are ongoing considerations for M&A expansions, with a strong intention to accelerate the process [32] Q&A Session Summary Question: Regarding AI and Southeast Asia strategy amidst trade conflicts - Management highlighted that AI infrastructure demand has positively impacted revenue, and they are exploring opportunities for domestic products in Southeast Asia [19] Question: Details on CloudStar's business development - Management discussed the advantages of CloudStar in multi-cloud management and the ongoing investments in R&D and AI capabilities [24] Question: Future prospects for AI business and revenue growth - Management acknowledged the unexpected 76% growth in AI business and emphasized continued investment in this area [30] Question: Dividend strategy and M&A plans - The company confirmed a stable dividend policy and expressed strong intentions for M&A expansions [31][32] Question: Revenue guidance for the next two to three years - Management indicated challenges in forecasting business in China but noted opportunities in overseas markets, particularly in Southeast Asia [33]

Summary of Shenzhen Envicool Technology (002837.SZ) Conference Call Company Overview - **Company**: Shenzhen Envicool Technology - **Ticker**: 002837.SZ - **Industry**: Precision cooling technology for data centers and energy storage systems (ESS) Key Financial Highlights - **2Q25 Results**: - Revenue: Rmb1,641 million (+70% YoY) - Gross Profit: Rmb426 million (+37% YoY) - EBIT: Rmb197 million (+64% YoY) - Net Income: Rmb168 million (+38% YoY) - Gross Profit Margin (GPM): 26% (-4pp YoY) - Operating Profit Margin (OPM): 12% (stable YoY) - Net Profit Margin (NPM): 10% (-2pp YoY) [1][10][12] Core Business Insights - **Data Center Cooling**: - Sales grew by 58% YoY to Rmb1,351 million in 1H25, indicating strong demand [1] - Contract liabilities increased by 109% YoY, suggesting a solid order backlog [1] - **Liquid Cooling Adoption**: - Recorded over Rmb200 million in liquid cooling revenue in 1H25, with products gaining traction among leading chipmakers [2] - **Energy Storage System (ESS) Cooling**: - Sales reached approximately Rmb800 million (+35% YoY) in 1H25, showing resilience despite global trade tensions [3] Margin Analysis - **Gross Profit Margin Decline**: - GPM decreased by 4 percentage points YoY due to regional and product mix changes and increased competition in the data center cooling market [4] - **Stable Operating Profit Margin**: - OPM remained stable at 12%, with SG&A expenses growing at a slower rate than sales [7] Operational Challenges - **Cash Flow Issues**: - Cash outflow from operations widened to Rmb234 million, attributed to higher receivable and inventory days [8] - **Capex Reduction**: - Capital expenditures declined by 19% YoY to Rmb141 million, below management's guidance [8] Investment Thesis - **Long-term Growth Drivers**: - The digital economy and carbon reduction initiatives are expected to drive demand for precision cooling technologies [12] - Increasing investment in generative AI is anticipated to boost liquid cooling adoption in data centers [12] - **Valuation**: - Current stock valuation is considered attractive with a 12-month target price of Rmb34.50, representing a potential downside of 50.9% from the current price of Rmb70.20 [14][15] Risks - **Competitive Landscape**: - Risks include tougher competition in cooling technology and slower-than-expected adoption of liquid cooling solutions [14] Conclusion Shenzhen Envicool Technology has demonstrated strong revenue growth in its core segments, particularly in data center and ESS cooling. However, challenges such as margin pressure, cash flow issues, and competitive risks need to be addressed to sustain growth and improve profitability. The long-term outlook remains positive, driven by global trends in digitalization and energy efficiency.

Technology & Innovation - Zero-knowledge proofs are transitioning from a specialized mathematical concept to a fundamental element of the digital economy [1] - StarkWare CEO @EliBenSasson is involved in discussions about this evolution [1] Industry Leaders - @NathanOnCrypto and @gazza_jenks are participating in the discussion [1]

Group 1 - Sify Technologies Limited has appointed JPMorgan Chase Bank, N.A. as the successor depositary for its American Depositary Receipt (ADR) program, effective July 23, 2025 [1] - An amended and restated deposit agreement with JPMorgan has been established, and a registration statement on Form F-6 was filed with the SEC on July 10, 2025 [2] - Holders of outstanding ADRs do not need to take any action regarding the change of depositary, as JPMorgan will notify all registered holders [3] Group 2 - Sify Technologies is recognized for its corporate governance, having won the Golden Peacock award multiple times, and is a leading ICT service and solution provider in India [4] - The company focuses on the evolving ICT needs of the digital economy, catering to businesses of all sizes with a comprehensive portfolio centered around cloud solutions [5] - Sify's infrastructure includes advanced Data Centers and the largest MPLS network, serving over 10,000 businesses across more than 1,700 cities in India, with international presence in North America, the UK, UAE, and Singapore [6]

Group 1 - The company has changed its name from Beyond Medical Technologies Inc. to Republic Technologies Inc. effective July 15, 2025 [1] - The new CUSIP for the company's common shares is 760801100 and the new ISIN number is CA7608011002 [2] - The name change reflects the company's commitment to leveraging transformative technologies for public good, focusing on smart contract-based attestation products and Ethereum validator operations [3][4] Group 2 - Republic Technologies aims to enhance network security and maintain consensus within the Proof-of-Stake system by operating proprietary validator infrastructure [3] - The company maintains ETH as its primary treasury asset and plans to scale its holdings in line with infrastructure growth [3] - The common shares will continue to trade on the Canadian Securities Exchange under the ticker symbol "DOCT" [5] Group 3 - Republic Technologies integrates Ethereum infrastructure into the global economy, developing smart contract-based products and delivering sustainable value to shareholders [6]

Company Announcement - Sify Technologies Limited will report its unaudited IFRS financial results for the first quarter ended June 30, 2025, on July 18, 2025, before the market opens [1] - A conference call will be hosted by Mr. Raju Vegesna, Chairman of the Board, and Mr. M P Vijay Kumar, Executive Director & Group CFO, at 8:30 AM ET on the same day [2] Conference Call Details - Interested parties can participate in the conference call by dialing +1-888-506-0062 (Toll Free in the U.S. or Canada) or +1-973-528-0011 (International) [2] - The call will also be broadcast live over the Internet, with access available at Sify's investor relations website [2] Replay Information - An online archive of the Webcast will be available shortly after the conference call, with replay access until July 25, 2025 [4] Company Overview - Sify Technologies is recognized as India's leading Digital ICT solutions provider, focusing on Data Center, Cloud, Networks, Security, and Digital services [1][5] - The company has received multiple Golden Peacock awards for Corporate Governance and is positioned to meet the ICT requirements of the emerging Digital economy [5] Infrastructure and Market Presence - Sify's infrastructure includes state-of-the-art data centers and the largest MPLS network, making it a preferred choice for start-ups, SMEs, and large enterprises [6] - The company serves over 10,000 businesses across more than 1,700 cities in India and has an international presence in North America, the United Kingdom, and Singapore [7]

Core Viewpoint - MoneyHero Limited is set to release its first quarter 2025 results on June 13, 2025, and will hold a conference call to discuss these results [1] Group 1: Company Overview - MoneyHero Limited operates as a personal finance aggregation and comparison platform, as well as a digital insurance brokerage in Greater Southeast Asia [3] - The company has a presence in Singapore, Hong Kong, Taiwan, and the Philippines, with a brand portfolio that includes MoneyHero, SingSaver, Money101, Moneymax, and Seedly [3] - As of December 31, 2024, MoneyHero had over 290 commercial partner relationships and approximately 6.2 million Monthly Unique Users across its platforms [3] Group 2: Financial Communication - The conference call to discuss the first quarter results will take place at 8:00 a.m. EDT on June 13, 2025 [1] - Investors can access the call via a registration link for the webcast or audio conference [2] - A replay of the webcast will be available on the Investor Relations website for 12 months following the event [2]

Core Insights - PTC reported solid financial results for Q2 FY2025, with a focus on enabling the digital economy through software tools that enhance customer efficiency in design, manufacturing, and service [1][2] - The company expressed confidence in its ability to meet customer demand despite macroeconomic uncertainties, emphasizing its role in facilitating the digital transition for clients [2] Financial Performance Highlights - Annual Recurring Revenue (ARR) increased to $2,290 million, up 10% year-over-year; constant currency ARR also grew to $2,326 million, reflecting a 10% increase [4] - Operating cash flow reached $281 million, a 12% increase from the previous year, while free cash flow was $279 million, up 13% [4][6] - Revenue for Q2 FY2025 was reported at $636 million, a 6% increase year-over-year, with constant currency revenue growth of 8% [4][5] - The operating margin improved to 35%, up 530 basis points from the previous year, while non-GAAP operating margin rose to 47%, an increase of 490 basis points [4] Earnings and Guidance - Earnings per share (EPS) for Q2 FY2025 was $1.35, a 42% increase compared to $0.95 in Q2 FY2024; non-GAAP EPS was $1.79, up 23% from $1.46 [4][5] - The company updated its FY2025 guidance, projecting constant currency ARR growth of 7% to 9% and free cash flow of $840 million to $850 million [7][9] - For Q3 FY2025, guidance includes revenue expectations of $560 million to $600 million and EPS of $0.56 to $0.88 [10] Capital Allocation and Strategic Initiatives - PTC executed a disciplined capital allocation strategy, repurchasing $75 million worth of stock in Q2 FY2025, with plans for an additional $75 million in Q3 [6][9] - The company remains focused on building a strong foundation for AI-driven and verticalized growth, while proactively managing macroeconomic risks [9]