reports
- Alvaro del Pozo
- Research Department
INFORME DIARIO 24 JUNIO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, AENA, TALGO. EUROPA: PROSUS Las bolsas rebotan desde niveles de soporte A pesar de la incertidumbre política en Europa y las caídas en la sesión del viernes, las principales bolsas europeas consiguieron rebotar durante la semana desde niveles de soporte y terminar en positivo. Así, el Euro STOXX 50 se acercó a la referencia de los 4.900 puntos con avances cercanos al +1,00% mientras que el Ibex 35 se apoyó en el nivel de los 11.000 punto...
- Research Department
- Julia Pan Mengyao
- Ming San Soong
China Internet: Online Gaming -- Shelter against mounting competition ...
We expect a lukewarm 2Q24 and 3Q24, with mobile grossing growth expected to reaccelerate gradually in 4Q24, primarily due to soft grossing momentum during the summer holiday ahead amid mounting competition. We opine that the growth of the online games sector in 2024 will be fuelled by: a) normalised industry development with regular issuance of game licences, b) consolidation of top game producers, and c) a promising pipeline of blockbuster games. Maintain MARKET WEIGHT.
- Julia Pan Mengyao
- Ming San Soong
China Internet: Strategic revamp to foster re-accelerating growth and ...
We believe efforts in user-focused and overseas expansion strategies will continue to help e-commerce companies regain GMV growth momentum and potentially improve take rates. We expect consumption behaviour to become service- and experienceoriented, which will benefit OTA players. With increasing shareholder returns and the recent ADR convertible issuance, the market will continue to focus on stock yields, companies’ cash positions and domestic regulations. Maintain MARKET WEIGHT.
JD JD.COM INC. SPONSORED ADR CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
3K1 KINGSOFT CORP. LTD.
00700 TENCENT HOLDINGS LTD.
PDD PINDUODUO INC. SPONSORED ADR CLASS A
03690 MEITUAN CLASS B
00780 TONGCHENG-ELONG HOLDINGS LIMITED
TCOM TRIP.COM GROUP LTD. SPONSORED ADR
BEKE KE HOLDINGS INC. SPONSORED ADR CLASS A
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
09618 JD.COM INC. CLASS A
01024 KUAISHOU TECHNOLOGY CLASS B
02423 PINDUODUO PDD US
09961 KE HOLDINGS INC.
CTRIP.COM INTERNATIONAL
- Bella Lu Yifei
- Jack Goh Tooan Orng
- Jonathan Koh
- Julia Pan Mengyao
- Kasemsun Koonnara
- Ken Lee
- Ming San Soong
- Posmarito Pakpahan
- Tanaporn Visaruthaphong
Regional Morning Meeting Notes: Friday, June 14
GREATER CHINA Sector Automobile Weekly: EV sales pull back last week. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Tuopu and Joyson Electronics. Top SELLs: XPeng. Internet Strategic revamp to foster re-accelerating growth and shareholders’ return. INDONESIA Update Bank Tabungan Negara (BBTN IJ/BUY/Rp1,240/Target: Rp1,700) ...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
5168 HARTALEGA HOLDINGS BHD.
3K1 KINGSOFT CORP. LTD.
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
7113 TOP GLOVE CORPORATION BHD.
7153 KOSSAN RUBBER INDUSTRIES BHD.
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
PDD PINDUODUO INC. SPONSORED ADR CLASS A
03690 MEITUAN CLASS B
MINT MAPLETREE INDUSTRIAL TRUST
00780 TONGCHENG-ELONG HOLDINGS LIMITED
1772 GANFENG LITHIUM CO. LTD. CLASS H
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
09618 JD.COM INC. CLASS A
01024 KUAISHOU TECHNOLOGY CLASS B
09888 BAIDU INC
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
02423 KE HOLDINGS INC.
BCOW 1895 BANCORP OF WISCONSIN INC
EPIC 1CM INC
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
09961 CTRIP.COM INTERNATIONAL
600699 NINGBO JOYSON ELECTRONIC CORP
- Research Department
INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, IAG, INFORME ANUAL DE MERCADO. EUROPA: ENI, PROSUS, SECTOR AUTOMOCIÓN. Cautela antes de la Fed Toma de beneficios a ambos lados del Atlántico antes de inflación estadounidense y la reunión de la Fed pero con Europa todavía sufriendo los coletazos de las elecciones europeas. En el STOXX 600 todos los sectores terminaron en rojo, siendo los mejores Químicas y Hogar mientras que Bancos y R. Básicos sufrieron las mayores correcciones. Por el ...
- Greater China Research Team
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- Julia Pan Mengyao
- Kasemsun Koonnara
- Limartha Adhiputra
- Ming San Soong
- Nurul Nazira Binti Abdullah
- Tham Mun Hon
Regional Morning Meeting Notes: Friday, June 07, 2024
GREATER CHINA Strategy Market Strategy 2H24: Building blocks in place. Results Meituan (3690 HK/BUY/HK$112.70/Target: HK$130.00) 1Q24: Earnings beat. ISHT margin to stabilise in 2Q24; upgrade To BUY. INDONESIA Results Merdeka Copper Gold (MDKA IJ/HOLD/Rp2,460/Target: Rp2,500) 1Q24: EBITDA below expectations with potential improvement ahead. MALAYSIA Sector Gaming ...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
MAG. MAG SILVER CORP.
ASM PACIFIC TECHNOLOGY LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
AP AP THAILAND
00700 TENCENT HOLDINGS LTD.
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
03690 MEITUAN CLASS B
GENT GENTING BHD
06862 HAIDILAO INTERNATIONAL HOLDING LTD.
BST BERJAYA SPORTS TOTO BHD
RGB RGB INTERNATIONAL BHD
1199 COSCO SHIPPING PORTS LIMITED
601138 FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
06690 HAIER SMART HOME CO. LTD. CLASS H
02423 KE HOLDINGS INC.
MDKA MERDEKA COPPER GOLD TBK PT
LHN LHN LTD
Z29 029 GROUP SE
09961 CTRIP.COM INTERNATIONAL
GENTMK GENTING BERHAD
LAGENDA LAGENDA PROPERTIES BHD
- Greater China Research Team
- Tham Mun Hon
Greater China Market Strategy 2H24: Building blocks in place.
Rebound on policy clarity. The MSCI China index has made impressive gains of 23.3% since bottoming out in late-Jan 24, bringing ytd performance to 8.2%. This is a remarkable turnaround, as Asia ex-Japan is only up 6.9% ytd. This comes after the government gave clear indications that it remains firmly behind the healthy development of capital markets and efforts to revive the property market will no longer be clouded by concerns of re-igniting the bubble. Further re-rating hinges on real est...
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00992 LENOVO GROUP LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
ASM PACIFIC TECHNOLOGY LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
00700 TENCENT HOLDINGS LTD.
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
06862 HAIDILAO INTERNATIONAL HOLDING LTD.
TCOM TRIP.COM GROUP LTD. SPONSORED ADR
1199 COSCO SHIPPING PORTS LIMITED
601138 FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
BEKE KE HOLDINGS INC. SPONSORED ADR CLASS A
06690 HAIER SMART HOME CO. LTD. CLASS H
02423 KE HOLDINGS INC.
09961 CTRIP.COM INTERNATIONAL
- Greater China Research Team
- Johnny Yum
- Kitpon Praipaisarnkit
- Malaysia Research Team
- Singapore Research Team
- Thailand Research Team
- Vincent Khoo Boo Aik
Regional Strategy: Alpha Picks - June 2024
GREATER CHINA Strategy Alpha Picks: June Conviction Call: Adding KE Holdings and Wharf REIC to our BUY list; hedging with SELL call on BYD. INDONESIA Strategy Alpha Picks: First Month Of Underperformance In 2024: Our picks are EXCL, BSDE, TLKM, ACES, BBTN, CMRY, SIDO and JSMR. MALAYSIA Strategy Alpha Picks: Choices For A “Summer Lull”: Our Alpha Picks trounce the KLCI again. May 24 picks: BAUTO, BURSA, Gamuda, GENM, Lagenda, Mah Sing, MYEG, PMETAL, RGB, and VSI. SINGAPORE Strategy Alpha Picks...
TFG THAIFOODS GROUP
600690 HAIER SMART HOME CO. LTD. CLASS A
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
AS7 ANTA SPORTS PRODUCTS LTD.
300014 EVE ENERGY CO. LTD. CLASS A
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
G13 GENTING SINGAPORE
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
00016 SUN HUNG KAI PROPERTIES LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
ES ESSO SOCIETE ANONYME FRANCAISE
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
CTRA CIPUTRA DEVELOPMENT
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
02328 PICC PROPERTY & CASUALTY CO. LTD. CLASS H
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
V03 VENTURE CORPORATION LIMITED
ERW ERAWAN GROUP
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
TTKOM TURK TELEKOMUNIKASYON A.S.
KLBF PT KALBE FARMA TBK
EA ENERGY ABSOLUTE PUBLIC CO. LTD.
TU THAI UNION GROUP PUBLIC COMPANY LIMITED
COM7 COM7
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
600585 ANHUI CONCH CEMENT COMPANY LIMITED CLASS A
00027 GALAXY ENTERTAINMENT GROUP LIMITED
BMRI PT BANK MANDIRI (PERSERO) TBK
ORI1 ORIENT OVERSEAS (INTERNATIONAL) LIMITED
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
MAPI MITRA ADIPERKASA
O39 OVERSEA-CHINESE BANKING CORPORATION LIMITED
BSDE PT BUMI SERPONG DAMAI TBK
ADRO PT ADARO ENERGY TBK
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
601888 CHINA TOURISM GROUP DUTY FREE CORPORATION LIMITED CLASS A
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
ACES PT ACE HARDWARE INDONESIA TBK
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
ROTI NIPPON INDOSARI CORPINDO
00700 TENCENT HOLDINGS LTD.
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
CENT CENTRAL GARDEN & PET COMPANY
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
SE SEA ADS
INRI INARI AMERTRON BHD
FEHT FAR EAST HOSPITALITY TRUST
PTTEP-R PTT EXPLORATION & PRODUCTION PCL NVDR
SIE SIA ENGINEERING CO LTD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
BAL BUMITAMA AGRI LTD
SCGB SUNWAY CONSTRUCTION GROUP BH
KPJ KPJ HEALTHCARE BERHAD
SMM SEMBCORP MARINE LTD
MYEG MY EG SERVICES BHD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
IOI IOI CORP BHD
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
GENM GENTING MALAYSIA BHD
MAHB MALAYSIA AIRPORTS HLDGS BHD
06098 COUNTRY GARDEN SERVICES HOLDINGS CO. LTD.
01801 INNOVENT BIOLOGICS INC.
2013 WEIMOB INC
EKO EKOVEST BHD
RGB RGB INTERNATIONAL BHD
SCB-R SIAM COMMERCIAL BANK PCL NVDR
709 GIORDANO INTERNATIONAL LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
FRKN FRENCKEN GROUP LTD
MPM MARCO POLO MARINE LTD
MRDIY MR DIY GROUP M BHD
09988 ALIBABA GROUP HOLDING LTD.
09999 NETEASE INC
2696 SHANGHAI HENLIUS BIOTECH INC
KEX KERRY EXPRESS (THAILAND)
OR PTT OIL & RETAIL BUSINESS PCL
TIDLOR NGERN TID LOR PCL
1209 CHINA RESOURCES MIXC LIFESTYLE SERVICES
BUKA BUKALAPAK.COM PT TBK
CVL CIVMEC
01024 KUAISHOU TECHNOLOGY CLASS B
09888 BAIDU INC
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
EXCL XL AXIATA TBK PT
GOTO GOJEK TOKOPEDIA TBK PT
CMRY PT CISARUA MOUNTAIN DAIRY TBK
02423 KE HOLDINGS INC.
CLAS CAPITALAND ASCOTT TRUST
SMGR SEMEN INDONESIA PERSERO TBK
NATGATE NATIONGATE HOLDINGS BHD
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
2232 CRYSTAL INTERNATIONAL GROUP LTD
SUNWAY SUNWAY BHD
ESSO ESSO THAILAND PCL
HUME HUME CEMENT INDUSTRIES BHD
02015 LI AUTO INC
09961 CTRIP.COM INTERNATIONAL
BTG BETAGRO PUBLIC COMPANY LIMITED
LAGENDA LAGENDA PROPERTIES BHD
- Greater China Research Team
Greater China Alpha Picks: June Conviction Call.
The HSI and MSCI China rose 1.8% and 2.1% mom respectively in May, supported by positive news on property destocking measures, but capped by tactical profit-taking and weak macro data. We expect further supportive policies from the July Third Plenum to boost domestic demand. Thus, we continue to add beneficiaries of policy support, namely KE Holdings and Wharf REIC, to our BUY list, but hedging with SELL on BYD, where price competition remains intense.
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00700 TENCENT HOLDINGS LTD.
1211 BYD COMPANY LIMITED CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
BEKE KE HOLDINGS INC. SPONSORED ADR CLASS A
01024 KUAISHOU TECHNOLOGY CLASS B
06690 HAIER SMART HOME CO. LTD. CLASS H
02423 KE HOLDINGS INC.
2232 CRYSTAL INTERNATIONAL GROUP LTD
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Greater China Research Team
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Malaysia Research Team
- Ming San Soong
- Roy Chen Chengzhi
- Stevanus Juanda
- Sunny Chen
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Wednesday, June 05, 2024
GREATER CHINA Strategy Alpha Picks: June Conviction Call Adding KE Holdings and Wharf REIC to our BUY list; hedging with SELL call on BYD. Sector Shipping and Ports – China Further strengthened freight rates raising container shipping earnings outlook. Upgrade OOIL to HOLD; Maintain BUY on CSP and CMP, and HOLD on CSH. Update KE Holdings Inc (2423 HK/BUY/HK$45.00/Target: HK$55.00) ...
02313 SHENZHOU INTERNATIONAL GROUP HOLDINGS LIMITED
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
00144 CHINA MERCHANTS PORT HOLDINGS CO. LTD.
00291 CHINA RESOURCES BEER (HOLDINGS) CO. LTD.
1023 CIMB GROUP HOLDINGS BHD
ERW ERAWAN GROUP
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
7777 3-D MATRIX
MYOR MAYORA INDAH
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
CENTEL CENTRAL PLAZA HOTEL
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
VALUE VALUE8 N.V.
00700 TENCENT HOLDINGS LTD.
1211 BYD COMPANY LIMITED CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
COSCO SHIPPING HOLDINGS CO. LTD. CLASS H
MISC MISC BHD
INRI INARI AMERTRON BHD
GAM GAMUDA BHD
VSI V.S. INDUSTRY BERHAD
MYEG MY EG SERVICES BHD
BURSA BURSA MALAYSIA BHD
MSGB MAH SING GROUP BHD
PMAH PRESS METAL ALUMINIUM HOLDIN
CPALL TB CP ALL
BAUTO BERMAZ AUTO BHD
GENM GENTING MALAYSIA BHD
OSP OSOTSPA PUBLIC CO. LTD.
300760 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO. LTD. CLASS A
RGB RGB INTERNATIONAL BHD
CRC CENTRAL RETAIL CORP
1199 COSCO SHIPPING PORTS LIMITED
01024 KUAISHOU TECHNOLOGY CLASS B
06690 HAIER SMART HOME CO. LTD. CLASS H
02423 KE HOLDINGS INC.
NATGATE NATIONGATE HOLDINGS BHD
2232 CRYSTAL INTERNATIONAL GROUP LTD
Z29 029 GROUP SE
IOIPG IOI PROPERTIES GROUP BHD
BTG BETAGRO PUBLIC COMPANY LIMITED
LAGENDA LAGENDA PROPERTIES BHD
Tencent Holdings Limited: 1 director
A director at Tencent Holdings Limited sold 16,000 shares at 396.800HKD and the significance rating of the trade was 95/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...
- Research Department
INFORME DIARIO 17 MAYO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CELLNEX, COLONIAL, FCC, MERLIN PROPERTIES, GRIFOLS, OHLA, SECTOR BANCARIO ESPAÑA. EUROPA: PROSUS. Respiro en las bolsas europeas Jornada de pérdidas moderadas en Europa, tras varios días de subidas que han llevado al STOXX 600 a máximos históricos y al Ibex a máximos de 2015, superando los 11.300 puntos. Dentro del STOXX 600, Seguros y R. Básicos mostraron el mejor comportamiento frente a las pérdidas de Autos e Industriales. Desde la macro, en la E...
- Julia Pan Mengyao
- Ming San Soong
Tencent Holdings (700 HK): 1Q24: Strong earnings beat; game revenue mi...
Tencent’s 1Q24 results came in slightly below our expectation. Revenue grew 6.3% yoy to Rmb159.5b, in line with consensus estimate. Gross margin expanded 7ppt yoy to 52.6%, better than consensus forecast. Non-IFRS operating profit recovered to Rmb58.6b, while non-IFRS operating margin rose to 36.8%, better than our estimate. Non-IFRS net profit was elevated by 54.5% yoy, 17% above consensus estimate on a positive shift in revenue mix. Maintain BUY with a higher target price of HK$454.00.
- Greater China Research Team
- Jo Yee Ng
- Julia Pan Mengyao
- Ming San Soong
- Shirley Wang Xueyi
- Stella Guo Yuting
Greater China Daily: Thursday, May 16, 2024
KEY HIGHLIGHTS Results Alibaba Group (9988 HK/BUY/HK$82.65/Target: HK$98.00) Alibaba delivered in-line 4QFY24 results. Revenue grew 7% yoy to Rmb221.9b, in line with street estimates. Non-GAAP net profit was Rmb24.4b, down 11% yoy and is 7% below street estimates, with net margin of 11%. In FY24, Alibaba has approved the two-part dividend of US1.66 per ADS, representing an aggregate of US$4b and 18% dividend payout ratio. We remain optimistic on the double-digit revenue growth target for the ...
- Anas Fitri Bin Ahmad
- Benjaphol Suthwanish
- Chong Lee Len
- Heidi Mo Jinghui
- Jacquelyn Yow Hui Li
- Jo Yee Ng
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Leow Huey Chuen
- Limartha Adhiputra
- Llelleythan Tan Tan
- Ming San Soong
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanaporn Visaruthaphong
- Wei Xiang Ku
Regional Morning Notes - Thursday, May 16, 2024
GREATER CHINA Results Alibaba Group (9988 HK/BUY/HK$82.65/Target: HK$98.00): 4QFY24: Rewarding dividend payout; reigniting cloud revenue growth in 2H24. Galaxy Entertainment Group (27 HK/BUY/HK$36.80/Target: HK$51.00): 1Q24: Results within expectations; launch of smart gaming tables in Jul 24. Miniso (MNSO US/NOT RATED/US$24.15): 1Q24: 20-25% revenue guidance for 2Q24; raises TOP TOY store opening target for 2024. Tencent Holdings (700 HK/BUY/HK$381.80/Target: HK$454.00): 1Q24: Strong earnings b...
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
CC3 STARHUB LTD
ERW ERAWAN GROUP
00027 GALAXY ENTERTAINMENT GROUP LIMITED
AP4 RIVERSTONE HOLDINGS
00700 TENCENT HOLDINGS LTD.
SAWAD SRISAWAD CORPORATION PUBLIC COMPANY LTD
KCE KCE ELECTRONICS PUBLIC CO. LTD.
FRKN FRENCKEN GROUP LTD
MNSO MINISO GROUP HOLDING ADS (N SHARES)
CK CH. KARNCHANG PUBLIC CO LTD
02423 KE HOLDINGS INC.
HUME HUME CEMENT INDUSTRIES BHD
- Jin Yoon
Tencent 1Q24 Results: Domestic Games to Return to YoY Growth in 2Q
What’s new: Tencent’s reported 1Q24 results were above consensus and our expectations. Domestic games could return to growth in 2Q and potentially accelerate in the 2H driven by resiliency in legacy titles and new game launches including DnF Mobile. Margins could further improve amid shift to high-quality revenue growth model, and continued cost controls. We maintain our PT at HKD450. Analysts: Jin Yoon
- Research Department
INFORME DIARIO 15 MAYO + RDOS. ESPAÑA Y EUROPA 1T’24. PREVIEWS (ANÁLIS...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: GRIFOLS, NATURGY, REPSOL. EUROPA: ALLIANZ, PROSUS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. El Ibex, cerca de niveles de 2015 Jornada de tímidos avances en las bolsas europeas, donde destacó en positivo la periferia (Italia y España). De...
- Alvaro del Pozo
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