COLUMBUS, Ohio, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Bread Financial® Holdings, Inc. (NYSE: BFH) (“Bread Financial” or the “Company”) today announced that its Board of Directors (the “Board”) has authorized a new plan to repurchase up to $200 million of shares of its common stock. There is no expiration date for the repurchase plan. “We are pleased with the progress we have made to strengthen our company. Bread Financial is well-positioned to execute against our capital priorities to grow responsibly, maintain ...

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Core Viewpoint - The A-share market is experiencing a surge in sentiment, with the Shanghai Composite Index surpassing 3800 points and the ChiNext Index rising over 30% in the past three months, reaching a three-year high [1][3]. Group 1: Market Performance - The ChiNext ETF (159915) has attracted significant capital, with an increase of approximately 15 billion yuan in scale this month, bringing its total scale to over 100 billion yuan as of August 25 [1]. - The ChiNext has a total market capitalization exceeding 16 trillion yuan, with over 1380 listed companies as of August 25 [1][3]. Group 2: Innovation and R&D - The average annual growth rate of R&D expenditure for ChiNext companies from 2020 to 2024 is 16.3%, leading among A-share sectors [3]. - ChiNext companies have achieved notable global market shares in various sectors, including nearly 40% in power batteries and being the largest global supplier of photovoltaic inverters [3]. Group 3: Index Characteristics - The ChiNext Index, ChiNext 50 Index, and ChiNext 200 Index are based on different selection criteria, focusing on large-cap, mid-cap, and a broader range of stocks, respectively [5][6]. - The ChiNext Index and ChiNext 50 Index have a higher concentration of large-cap stocks, with over 50% of their weight in companies with market capitalizations exceeding 100 billion yuan [7][14]. - The industry distribution of the indices shows a strong focus on emerging industries, with the ChiNext Index and ChiNext 50 Index heavily weighted in industrial, information technology, and telecommunications sectors [10][12]. Group 4: Investment Opportunities - The three ChiNext indices exhibit strong growth potential and volatility, making them suitable for investors with varying risk appetites [14]. - E Fund has established a presence in the ChiNext market with its ETFs tracking the ChiNext Index, ChiNext 50 Index, and ChiNext 200 Index, all with a management fee of 0.15% per year [14].

Japan’s Financial Services Agency has proposed broadening investor access to the government’s tax-free stock investment program to allow people younger than 18 to build long-term asset portfolios https://t.co/gRQlisuyvO ...

Group 1: Industry Insights - The government is actively promoting the development of supply chain and supply chain finance to address the financing difficulties faced by small and medium-sized enterprises (SMEs) [1] - Bills serve as a crucial financial tool that aligns with the characteristics of supply chains, facilitating the transformation and upgrading of domestic industrial chains [1] Group 2: Utilization of Bills - Companies can leverage the payment function of bills to activate accounts receivable, as the scale of accounts receivable has been expanding with longer payment terms, particularly with large enterprises delaying payments to SMEs [3] - The issuance of commercial bills is based on real transaction backgrounds, allowing issuers to utilize their creditworthiness for payment settlements, achieving zero-cost financing and enhancing cash flow [3] Group 3: Financing Benefits - Bills represent bank or large enterprise credit, enabling companies to expand financing channels, reduce costs, and optimize financial structures [4] - In supply chain financing, bills issued by core enterprises provide direct financing support to upstream and downstream companies, addressing information asymmetry due to established cooperative relationships [4] - The characteristics of bills align well with the financing needs of SMEs, which often require high frequency, quick turnaround, and small amounts [4] Group 4: Platform Development - The Yilian Tong supply bill public service platform, operated by Linyi Mall Digital Technology Group, is the first third-party platform in China with a commercial logistics background, approved for direct connection to the Shanghai Bill Exchange [4] - The platform offers comprehensive services including supply chain bills, online discounting, commercial bill direct financing, and bank bill instant discounting, with a business scale exceeding 40 billion yuan, ranking among the top four in the country [4]

Financial Data and Key Metrics Changes - The underlying NPAT for FY '25 was £40.8 million, with statutory NPAT up 21% to £35 million [26] - Gross profit increased by 12% or £15 million, reflecting growth across both distribution and manufacturing segments [26][32] - Operating expenses totaled $96.6 million, with a normalized second half OpEx of $46 million, down from the first half [27][30] Business Line Data and Key Metrics Changes - Distribution earnings contributed 81% of the business, with gross profit up 10% to $68 million [6][32] - Manufacturing earnings surged 53% to $16 million, driven by a larger loan book and improved net interest margins [4][32] - Subscription income rose 13% to $21 million, supported by increased adoption of BrokerEngine plus and other services [4] Market Data and Key Metrics Changes - Broker market share increased from 75% to 77%, with expectations to reach 80% [12] - AFG Securities loan book grew by 23% to $5.5 billion, with settlements up 65% [3][20] - The residential mortgage book grew by 5% to $211 billion, indicating strong market activity [6][17] Company Strategy and Development Direction - The company focuses on three strategic pillars: growing the broker network, providing market-leading technology, and delivering high margins through the distribution network [8][10] - Investments in technology and strategic acquisitions are aimed at diversifying income sources beyond traditional residential mortgage aggregation [4][10] - The company anticipates continued consolidation within the broker industry, positioning itself to capture future growth opportunities [13][52] Management's Comments on Operating Environment and Future Outlook - The management expressed optimism about the economic environment, citing lower unemployment and cash rate reductions stimulating market activity [3][44] - The company expects strong momentum into FY '26, supported by a record pipeline and improving market conditions [16][44] - Management highlighted the importance of brokers in the marketplace, emphasizing their role in providing competition and choice to consumers [46] Other Important Information - The company maintains a strong capital position with $182 million in investments and liquid assets, allowing for reinvestment where returns are compelling [4][40] - Cash conversion for the year was 90%, with a net cash position of $12 million, providing capacity for growth [40] Q&A Session Summary Question: Changes in the industry approach to brokers - Management noted that major lenders remain engaged with brokers despite their focus on proprietary networks, as brokers provide essential customer choice and competition [58][60] Question: Growth potential of the broker industry - Management believes consolidation will occur, but currently, it is a favorable time for brokers, with opportunities for growth and customer retention through additional services [62][63] Question: Revenue uplift from brokers writing multiple products - Management indicated that while achieving 100% of brokers writing multiple products is unlikely, there is potential for growth beyond the current 58% [65][67] Question: Home loan volume and securitization - Management clarified that the decline in home loan volume was due to the cessation of a white label program, with new products expected to drive future growth [74][76] Question: Net interest margin (NIM) benefits from rate cuts - Management discussed the impact of lower cash rates on NIM, indicating a small improvement alongside ongoing competitive pressures [80][82] Question: Outlook on payout ratios - Management acknowledged a natural ceiling on payout ratios, influenced by the mix of broker activity and overall market conditions [96][97] Question: Margin versus volume trade-off - Management confirmed a focus on volume growth while being mindful of return on capital, indicating a balanced approach to managing margins [98][99]

F Y25 Full Year Results 12 months to 30 June 2025 For personal use only Presentation Outline | Item | Presenter | | Pages | | --- | --- | --- | --- | | FY25 Highlights | David Bailey | 4 – | 6 | | Market & operations update | David Bailey | 7 – | 13 | | Financial update | Luca Pietropiccolo | 14 | | | Outlook | David Bailey | 21 | | | Q&A | | | | | Appendices | | | | For personal use only – 6 – 13 – 20 – 26 2 Significant scale in the finance industry 3 $948B Settlements p.a. in the Australian finance market ...

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Market Overview - The U.S. equity markets have experienced significant volatility, reaching record highs due to Federal Reserve Chair Jerome Powell's hints at rate cuts, but also declining sharply due to concerns over NVIDIA's upcoming earnings release [1] - President Trump's actions, including threats to remove Federal Reserve Governor Lisa Cook, have contributed to market uncertainty, potentially leading to a legal battle that could escalate to the Supreme Court [1] Momentum Investing Strategy - Investors are increasingly turning to momentum stocks, such as Vertiv Holdings Co (VRT), MasTec, Inc. (MTZ), and Robinhood Markets, Inc. (HOOD), as a strategy to achieve sustained profits when traditional value or growth investing does not yield desired results [2] - Momentum investing is based on the principle of "buying high and selling higher," capitalizing on established trends that are likely to continue due to existing momentum [3] Screening Parameters for Momentum Stocks - The strategy involves selecting the top 50 stocks with the best percentage price change over the last 52 weeks to identify those that have appreciated steadily [5] - From these, the 10 worst performers over the past week are chosen to identify stocks that have experienced a short-term pullback [6] - Stocks with a Zacks Rank 1 (Strong Buy) are included, as they have a proven history of outperformance [6] - A Momentum Style Score of B or better is required, indicating favorable timing for investment [7] - Stocks must have a current price greater than $5 and be among the top 3000 by market capitalization to ensure stability [8] Selected Stocks - Vertiv has seen a price increase of 60.2% over the past year but has declined by 7.9% in the last week, with a Momentum Score of B [9] - MasTec's stock has risen by 59.7% in the past year, with a slight decrease of 0.7% in the last week, also holding a Momentum Score of B [10] - Robinhood Markets has surged by 415% over the past year but has fallen by 6.2% in the last week, boasting a Momentum Score of A [11]

Company Achievements & Market Position - Interactive Brokers will join the S&P 500, replacing Walgreens [1] - The inclusion in the S&P 500 was a surprise, as the company is still largely owned (68%) by the original founder and has fewer than 3,500 employees [3][10] - The company's stock has increased by over 100% this year [6] - Interactive Brokers has 40% more revenue than Robinhood [13] Business Growth & Strategy - The company attributes its growth to the rise in options markets and its customer base of professional options traders [2] - Interactive Brokers aims for indefinite 20% customer growth without needing incremental capital [6] - The company plans to use its financial strength to venture into new areas, such as forecast trading [9] - Interactive Brokers focuses on serving professional traders, emphasizing the billions of dollars saved for this community over the years [14] Industry Outlook & Regulation - The speaker anticipates a great stretch for the next two to three years, partly due to the reduction of regulations that have burdened businesses [6][5] - The speaker believes there is a huge runway ahead for the entire industry globally, driven by increasing recognition of capitalism and free enterprise [7] - The speaker is in favor of central bank independence [17]