QUICK TAKE 31 October 2024 Japan Semiconductors Screen Holdings Co Ltd Rating Market-Perform Price Target 7735.JP 9,700.00 JPY David Dai, CFA +852 2918 5704 david.dai@bernsteinsg.com Juho Hwang +852 2123 2632 juho.hwang@bernsteinsg.com Xuan Ji +852 2918 5342 xuan.ji@bernsteinsg.com Screen 2Q25/3: Raising near term China outlook Screen 2Q results were inline. 2Q FY25/3 revenue came in at ¥143.2bn, up 23% yoy, below consensus by 2%. Gross margin and operating margins are better than consensus, at 38% and 21.3 ...

A c t i o n | 31 Oct 2024 05:19:26 ET │ 14 pages Sany Heavy Industry (600031.SS) Cost Discipline with Signs of Improving Non-Excavator in China; Buy with Higher TP CITI'S TAKE Sany delivered faster than peers YoY revenue growth in 3Q24 given its lower revenue exposure to the property-dependent machines (crane and concrete) in China and accelerating overseas revenue growth. Coupled with ongoing cost reduction effort, especially on R&D expense, Sany surprised us on the upside with its 100% YoY earnings growth ...

30 October 2024 | 3:09PM CST 2131d4eaf4cb4d50b1d51c8af07b64b4 Mindray (300760.SZ): Earnings Review: 3Q24 results miss on domestic demand pressure; eyes on trade-in; Buy | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------ ...

29 Oct 2024 15:20:29 ET │ 13 pages Macro Strategy Is Trump priced in? Updated views on our cross-asset election trades | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------- ...

V i e w p o i n t | 31 Oct 2024 01:08:09 ET │ 10 pages Japan FX USDJPY rise likely to be countered by further BoJ tightening CITI'S TAKE As had been broadly anticipated the BoJ left its policy rate unchanged at 0.25% at today's meeting. We had thought the USDJPY could return to around ¥152/$ in the present recovery, though there may be temporary further upside depending upon the result of the US election. However, with JPY weakness restarting of late we think the BoJ will hike its policy rate to 0.5% at eit ...

30 Oct 2024 21:36:38 ET │ 10 pages Japan Economics DPP tax cuts could be adopted in more moderate form CITI'S TAKE The banner policies of the DPP, which is positioned to cast deciding votes in the Diet after its gains in the Lower House election, are increasing the income tax exemption limit. Larger deductions reduce taxable income and hence taxes paid by workers. We think PM Ishiba may adopt these policies in the interest of economic package implementation but would expect more moderate tax cuts. At the sa ...

Flash | 30 Oct 2024 09:46:42 ET │ 11 pages NavInfo (002405.SZ) Quick Take – 3Q Results Beat; Narrowed Net Loss on Mix and Cost Control NavInfo reported 3Q24 results after market close on 30-Oct. 3Q24 revenue rose 5.4% yoy to Rmb861mn, slightly behind VAe by 2.3%. 3Q24 gross profit grew 8.9% yoy to Rmb325mn, with margin expanded 1.2ppts yoy or 7.8ppts qoq to 37.7% likely due to better mix (data compliance, chipsets biz) and cost reduction. 3Q24 opex notably fell 26.2% yoy to Rmb424mn, where opex ratio lowere ...

31 October 2024 | 5:29PM HKT 2131d4eaf4cb4d50b1d51c8af07b64b4 Buy | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------|-------|-------------------------------------------------------------------------------|-------|----------------------------|---------- ...

on your telephone keypad. Anil Gupta, Vice President, Investor Relations, you may begin your conference. Good afternoon, and welcome to the Coinbase Third Quarter 2024 earnings call. Joining me on today's call are Brian Armstrong, co-founder and CEO, Emily Choi, President and COO, Alicia Haas, CFO, and Paul Graywall, Chief Legal Officer. I hope you've all had the opportunity to read our shareholder letter, which was published on our investor relations website earlier today. Before we get started, I'd like t ...

Macquarie Group Ltd. (OTCPK:MQBKY) H1 2025 Earnings Conference Call November 1, 2024 6:00 PM ET Company Participants Samuel John Dobson – Head of Investor Relations Shemara Wikramanayake – Chief Executive Officer and Managing Director Alexander Harms Harvey – Chief Financial Officer Simon Wright Head - Commodities and Global Markets Conference Call Participants Ed Henning - CLSA Andrew Triggs – JPMorgan Jon Mott – UBS John Storey - UBS Brendan Sproules – Citi Andrei Stadnik - Morgan Stanley Brian Johnson - ...