Group 1 - Sunoco acquired Parkland Corp. for $9.1 billion in 2025, gaining over 3,600 retail sites in North America, including nearly 700 convenience stores in the U.S. [3] - Instead of selling the retail locations, Sunoco is expanding its retail presence, as evidenced by its recent acquisition of Duck Thru, which focuses solely on retail locations [4][7] - The Duck Thru acquisition includes 56 stores located in eastern North Carolina and southeast Virginia, which will be integrated into Sunoco Retail [7] Group 2 - Jernigan Oil Company, which began as a farm machinery business in 1948, plans to reinvest the proceeds from the sale of Duck Thru into its other business operations, including propane distribution and fuels transportation [5] - The acquisition of Pops Mart earlier in the year, which included 36 stores and a wholesale business, further demonstrates Sunoco's commitment to expanding its convenience store portfolio [4][7]

Core Insights - Seven & i Holdings reported its third-quarter earnings, highlighting progress on major initiatives and changes in its retail footprint [1] Store Count and Closures - As of the end of fiscal Q3, 7-Eleven operated 12,765 stores in North America, but the company is closing more stores than it opens, with 25 openings and 44 closures in Q3 [2] - The trend continued from Q2, where 30 stores were opened and 155 were closed [2] Fuel Sales and Store Composition - There was a year-over-year reduction of 212 stores selling fuel, decreasing from 8,407 to 8,195 [3] - Despite emphasizing the value of fuel, 7-Eleven is closing stores that offer it, indicating a potential shift in strategy [4] Franchise Operations - Franchised locations accounted for 56.5% of 7-Eleven's total store count, an increase from 55% the previous year [5] - The franchised segment alone would rank as one of the largest convenience store chains in the U.S. by store count [5] Wholesale Segment Growth - 7-Eleven's wholesale segment had 863 locations at the end of fiscal Q3, marking a 16% increase year-over-year [7] Future Plans - Seven & i is considering an IPO for its North American operations later this year, which may influence its franchising strategy [6]

This story was originally published on C-Store Dive. To receive daily news and insights, subscribe to our free daily C-Store Dive newsletter. Dive Brief: Anabi Oil, parent company of Rebel Convenience Stores, has acquired 12 convenience stores from California-based C&J Cox Corporation, according to an announcement from Matrix Capital Markets, which coordinated the deal. The deal includes nine c-stores in the Tri-Valley region, located near the San Francisco Bay area, and three in the Lake Tahoe area, ac ...

Summary of Key Points from the Conference Call Industry Overview - The focus for 2026 in Asian markets will shift from AI-driven stocks to growth opportunities beyond AI, dividends, and previously overlooked stories in Asia [2][12][14] - Key themes include structural stories in energy self-sufficiency, new technology, financial deepening, and the growth of formal retail in ASEAN [12][14] Company-Specific Insights 1. Harbin Electric (1133 HK) - **Sector**: Electrical Equipment - **Market Cap**: USD 3.648 billion - **Current Price**: HKD 15.53; **Target Price**: HKD 22.00 - **PE Ratio**: 10.7; **PB Ratio**: 1.6; **ROE**: 16.2% - **Key Points**: - Benefiting from China's push for energy self-sufficiency, particularly in coal and nuclear power [16][18] - Expected earnings CAGR of 34% from 2024-2027 [19] - Potential inclusion in Stock Connect in 2026 [19] 2. Horizon Robotics (9660 HK) - **Sector**: Auto Components - **Market Cap**: USD 14.901 billion - **Current Price**: CNY 8.44; **Target Price**: CNY 11.00 - **Key Points**: - Positioned to benefit from the growth of autonomous driving technology [23][25] - Expected revenue CAGR of 64% from 2025-2027 [27] 3. Goldwind Science & Tech (002202 CH) - **Sector**: Electric Utilities - **Market Cap**: USD 8.753 billion - **Current Price**: CNY 15.35; **Target Price**: CNY 20.40 - **Key Points**: - Leading manufacturer of wind turbines with strong demand in emerging markets [30][32] - Expected net profit growth of 58% in 2025 [32] 4. Trip.com Group (TCOM US) - **Sector**: Internet Software & Services - **Market Cap**: USD 48.707 billion - **Current Price**: USD 74.52; **Target Price**: USD 90.00 - **Key Points**: - Dominates China's online travel market with over 50% GTV [39] - Expected revenue growth of 15% CAGR from 2025-2027 [39] 5. BOCHK Holdings (2388 HK) - **Sector**: Commercial Banks - **Market Cap**: USD 54.013 billion - **Current Price**: HKD 39.70; **Target Price**: HKD 45.20 - **Key Points**: - Benefits from increased cross-border opportunities and offers a 5.5% dividend yield [44][46] 6. PB Fintech (POLICYBZ IN) - **Sector**: Internet Software & Services - **Market Cap**: USD 8.999 billion - **Current Price**: INR 1,734.70; **Target Price**: INR 2,250.00 - **Key Points**: - Operates India's largest online insurance marketplace [49] - Expected revenue CAGR of 30% from 2025-2028 [51] 7. Phoenix Mills (PHNX IN) - **Sector**: Real Estate Management & Development - **Market Cap**: USD 6.904 billion - **Current Price**: INR 1,714.80; **Target Price**: INR 2,110.00 - **Key Points**: - Largest mall operator in India, evolving into a mixed-use developer [54][56] 8. E-Mart (139480 KS) - **Sector**: Multiline Retail - **Market Cap**: USD 1.482 billion - **Current Price**: KRW 79,000.00; **Target Price**: KRW 120,000.00 - **Key Points**: - Trading at 0.2x PB, highlighting deep value [59] - Transformation into a multiline retailer with various catalysts for growth [60] 9. E Ink Holdings (8069 TT) - **Sector**: Technology - **Market Cap**: Not specified - **Current Price**: TWD 169.00; **Target Price**: TWD 305.00 - **Key Points**: - Holds over 90% of the global e-paper market and expanding capacity [62] 10. ICTSI (ICT PM) - **Sector**: Transport & Logistics - **Market Cap**: Not specified - **Current Price**: PHP 558.50; **Target Price**: PHP 630.00 - **Key Points**: - Offers growth and yield at attractive valuations [62] 11. City Developments (CIT SP) - **Sector**: Real Estate Management & Development - **Market Cap**: Not specified - **Current Price**: SGD 7.43; **Target Price**: SGD 11.00 - **Key Points**: - Positioned to benefit from a turnaround in Singapore's property sector [62] 12. Sumber Alfaria Trijaya (AMRT IJ) - **Sector**: Retail - **Market Cap**: Not specified - **Current Price**: IDR 1,895.00; **Target Price**: IDR 2,900.00 - **Key Points**: - Expected to benefit from policies boosting consumption in Indonesia [62] Additional Insights - Asian dividends have doubled over the last 20 years, indicating potential for further increases in payout ratios [12] - The report emphasizes the importance of EPS growth for continued market gains, particularly in China [12][14]

Group 1 - Sunoco completed its $9.1 billion acquisition of Parkland Corp. on October 31, creating a combined entity with an enterprise value of approximately $25.5 billion, making it the largest independent fuel distributor in the Americas [9] - The acquisition includes Parkland's 3,600-plus retail sites across North America, with 699 locations in the U.S., of which 122 are company-owned and operated [9] - Sunoco plans to terminate the executive officers of Parkland who remain with the company, and Parkland's President and CEO Bob Espey will resign after 14 years [9] Group 2 - Sunoco sold many of its convenience store assets to 7-Eleven in 2024 but retained about 76 company-operated c-stores as of early 2024 [3] - Sunoco's President and CEO Joseph Kim indicated that the company will focus on integrating Parkland's assets before exploring further market opportunities [4] - Parkland has faced operational struggles in the U.S., leading to staff cuts and a decline in full-year revenue from $186 million in 2023 to $168 million in 2024 due to unfavorable market conditions [6]