reports
Velan Inc. Reports Its Fiscal 2024 Fourth Quarter and Year-End Results
Velan Inc. Reports Its Fiscal 2024 Fourth Quarter and Year-End Results Strong new order inflow and higher backlog¹ entering fiscal 2025 MONTREAL, May 16, 2024 (GLOBE NEWSWIRE) -- Velan Inc. (TSX: VLN) (“Velan” or the “Company”), a world-leading manufacturer of industrial valves, announced today its financial results for its fourth quarter and fiscal year ended February 29, 2024. All amounts are expressed in U.S. dollars unless indicated otherwise. FOURTH QUARTER HIGHLIGHTS: Bookings1 of $132.8 million, up sharply from $87.1 million last year and $7...
Velan Inc. publie les résultats de son quatrième trimestre et de son e...
Velan Inc. publie les résultats de son quatrième trimestre et de son exercice 2024 Important afflux de commandes et carnet de commandes¹ en hausse pour débuter l’exercice 2025 MONTRÉAL, 16 mai 2024 (GLOBE NEWSWIRE) -- Velan Inc. (TSX : VLN) (« Velan » ou la « Société »), un chef de file mondial de la fabrication de robinetterie industrielle, a annoncé aujourd’hui les résultats financiers de son quatrième trimestre et de son exercice clos le 29 février 2024. Tous les montants sont exprimés en dollars américains, à moins d’indication contraire. FAITS SAILLANTS DU QUATRIÈME TRIMESTRE : ...
- Bella Lu Yifei
- Carol Dou Xiao Qin
- Greater China Research Team
- Julia Pan Mengyao
- Ken Lee
- Ming San Soong
- Sunny Chen
Greater China Daily: Friday, May 17, 2024
KEY HIGHLIGHTS Sector Automobile China’s PV retail sales volume grew 5% yoy and 18% wow in the week ending 12 May 24 on delayed booking of sales registered during the Labour Day holiday. PEVs’ market share rebounded to 45% during the week, due to government subsidies and price cuts. The US raised tariffs on Chinese EVs and lithium-ion EV batteries, but we see limited impact. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Tuopu and Yadea. Top SELLs: Li Auto and XPeng. Downgrade GWM from BUY t...
- Malaysia Research Team
Malaysia Daily - Friday, May 17, 2024
KEY HIG HLIGH TS Company Results SP Setia (SPSB MK/BUY/RM1.53/Target: RM1.80) Page 2 1Q24: Results in line. We expect stronger earnings ahead due to lumpy land sales recognition expected in 2Q-3Q24. Company Update Bursa Malaysia (BURSA MK/BUY/RM8.23/Target: RM8.76) Page 5 Bursa’s ADV continues to exceed expectations. We remain positive on Bursa’s near- to medium-term prospects. Maintain BUY with a higher target price of RM8.76. UOBKH Highlights Coraza Integrated Technology (CORAZA MK/BUY/RM0.550...
EVERCEL Announces Clarification of its February 20, 2024 Press Release
EVERCEL Announces Clarification of its February 20, 2024 Press Release NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Evercel, Inc. [OTC EXPERT MARKET: EVRC] Evercel, Inc. wishes to clarify its prior press release of February 20, 2024 regarding its Plan of Liquidation and Dissolution. Evercel’s decision to place Evercel’s assets into a liquidating trust has no impact on ZAGG or its operations. Evercel is a passive and minority investor in ZAGG. ZAGG is solely managed by CoronaPark, and has been since CoronaPark took ZAGG private in 2021. The decision of Evercel to place its assets in a l...
- Kasemsun Koonnara
Origin Property (ORI TB) - Expect An Improvement In 2Q24, But Business...
ORI reported lower-than-expected earnings in 1Q24. Looking ahead, we expect improvements in core performance in 2Q24. However, the business outlook remains challenging. We have cut our earnings forecasts for 2024-25 by 20-25% due to a more conservative assumption. Maintain BUY. Target price: Bt7.50.
- Benjaphol Suthwanish
Central Plaza Hotel (CENTEL TB) - A Challenging 2Q24 Awaits
Despite decent earnings and hotel growth in 1Q24, 2Q24 earnings could face several challenges. Thailand and the Maldives will enter the low travel season in 2Q24 while the hotel in Japan is still ramping up occupancy. The high-margin hotel in Pattaya will close a huge portion of the rooms for renovations. The impact of the new lease for the hotel in Hua Hin could be realised in 2Q24. Maintain HOLD. Target price: Bt46.00.
- Benjaphol Suthwanish
- Tanaporn Visaruthaphong
Banpu (BANPU TB) - Gas Prices Still Pressuring Core Profit In 2Q24
In 2Q24, we estimate a recovery in core profit, driven by rising coal sales volume and peak season activity in the utilities sector. Short-term prospects suggest a gradual recovery in gas and coal prices, buoyed by growing economic activities in China and India. There is optimism over strengthening gas prices in 2H24, supported by declining gas production capacity in the US and an anticipated peak season towards the yearend. Maintain HOLD. Target price: Bt5.00.
- Chris Thompson
DCM Reports Strong First Quarter Results as Revenue Grows, Margins Str...
DATA Communications Management Corp.is a Canadian-based provider of marketing and business communication solutions to companies in North America. Its technology-enabled content and workflow management capabilities solve the complex branding, communications, logistics, and regulatory requirements of leading enterprises so its customers can accomplish more in less time. Its services include printing, data & content management, labels & asset tracking, location-specific marketing, and multimedia ca...
- Benjaphol Suthwanish
Airports of Thailand (AOT TB) - Remain Hopeful Going Into 2HFY24
AOT concluded 1HFY24 with 61.2m passengers, 51% of its FY24 target of 120m. 2QFY24 results of Bt5.8b were in line with our and consensus expectations. Going into the low travel season in 2HFY24, we see an encouraging tourist momentum, but at the same time, there is still a potential downside if the tourism recovery pace is slower than expected. Maintain BUY. Target price: Bt75.00.
- Benjaphol Suthwanish
- Kasemsun Koonnara
- Tanaporn Visaruthaphong
Thailand Daily - Friday, May 17, 2024
KEY HIGHLIGHTS Update Airports of Thailand (AOT TB/BUY/Bt67.00/Target: Bt75.00) Remain hopeful going into 2HFY24. Banpu (BANPU TB/HOLD/Bt5.30/Target: Bt5.00) Gas prices still pressuring core profit in 2Q24. Central Plaza Hotel (CENTEL TB/HOLD/Bt45.75/Target: Bt46.00) A challenging 2Q24 awaits. Origin Property (ORI TB/BUY/Bt6.10/Target: Bt7.50) Expect improvement in 2Q24, but business outlook remains challenging.
- Bella Lu Yifei
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Julia Pan Mengyao
- Kasemsun Koonnara
- Keith Wee Teck Keong
- Ken Lee
- Ming San Soong
- Nurul Nazira Binti Abdullah
- Roy Chen Chengzhi
- Stevanus Juanda
- Sunny Chen
- Tanaporn Visaruthaphong
Regional Morning Notes - Friday, May 17, 2024
GREATER CHINA Sector Automobile: Weekly: PV sales rebound on delayed booking of sales. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Tuopu and Yadea. Top SELLs: Li Auto and XPeng. Results Baidu Inc (9888 HK/BUY/HK$108.40/Target: HK$126.00): 1Q24: Earnings beat; subdued ad revenue growth stemming from soft macro. JD.com (9618 HK/BUY/HK$132.40/Target: HK$151.00): 1Q24: Solid earnings beat; high single-digit revenue growth on track. Update Grand Pharmaceutical Group (512 HK/NOT RATED/HK$5.05): Nuc...
- Roy Chen Chengzhi
Singapore Airlines (SIA SP) - FY24: Results In Line; Expect Moderating...
SIA’s FY24 headline net profit of S$2.67b (+24% yoy) was in line with our expectations at 101% of our forecast. FY24’s final DPS of 38 S cents was slightly above our projection. We expect SIA’s earnings to go downhill in the next two years, driven by pax and cargo yield moderation as competition catches up, but still meaningfully above pre-pandemic levels with SIA’s strengthened market leading position. Maintain HOLD on SIA, with a slightly higher target price of S$6.35, based on 1.18x FY25F P/B...
- Leonard Law
Lucror Analytics - Morning Views Asia
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. To request full and unrestricted access to Lucror’s research and analytics platform, please visit
- Stevanus Juanda
Consumer – Consumer Companies Benefit From Margin Expansion; Retail Co...
Consumer companies recorded an average NPAT growth of 14.8% in 1Q24 and retailers recorded an average growth of 151.1% yoy. A recurring theme among consumer companies is that a decline in raw material prices caused margin expansion and profit growth. Retail companies saw triple-digit growth as Lebaran fell in 1Q24 compared to 2Q last year. Maintain OVERWEIGHT. Our picks: ACES and CMRY.
- Roy Chen Chengzhi
- Maskun Ramli
- Stevanus Juanda
- Lynn Song
- Min Joo Kang
- Nicky Mapa
- Rob Carnell
- James Ratzer
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