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17 August 2026 | 9:38AM AEST Equity Research Imdex (IMD.AX): FY26 First Take: Revenue and EBITDA beat, operating leverage demonstrated; Neutral GS take: IMD's FY26 result appears ahead across key line items and should be well-received by the market. Revenue of $520m was +21% YoY (+23% CC) and comfortably ahead of both GSe/VA cons ($517m/$518m). Platform revenues (a newly introduced reporting segment) were the key driver ($246m, +33% YoY) and now account for ~47% of group revenues, up from 43% in FY25 and 33 ...

17 August 2026 | 8:30AM HKT Equity Research Gigabyte (2376.TW): AI server in expansion; Strong capex commitment to capture the demand; July and 2Q26 beat; Neutral Gigabyte's Jul revenue was up 60% YoY / 3% MoM, or 18% higher than our estimate, which we attribute to the strong shipments performance of both baseboard and rack-level AI servers. We model sequential revenue growth in Aug-Sep, supported by the rising AI server shipments, and we expect revenues to stay high in 3Q / 4Q26E post strong growth in 1H26 ...

17 August 2026 | 7:01AM HKT Equity Research DiDi Global Inc. (DIDIY) 2Q26 review: Steady domestic growth with improving Brazil food delivery unit economics; Buy | | | Key Data _____________________________________ DiDi reported broadly in-line 2Q26 results, with China Mobility adj. EBITA of Rmb4.2bn (+1% above GSe and Visible Alpha Consensus), where GTV margin reached 4.6% (up 0.2ppts yoy) on 8%/9% order volume/GTV growth (positive AOV growth for the third consecutive quarter) and +2ppts yoy improvement in ...

BEAR ELECTRIC APPLIANCE CO. (002959.SZ) 2Q26 Earnings Review: Below-expectation on weak domestic demand and operating deleverage; Neutral 17 August 2026 | 7:07AM CST Equity Research Bear reported below-expectation 2Q26 results post market close of Aug 13. Total revenue/net profit in 1H26 was Rmb2,349mn/Rmb120mn, down by 7%/41% yoy, and implying -9%/-46% yoy in 2Q (-3%/-34% vs. GSe). Management held an earnings call on Aug 14 to address key topics on demand, product/channel strategy, overseas expansion and m ...

EUROPE PAPER & FOREST PRODUCTS Brazil Pulp Week Feedback - Still Looking for the Trough Last week, we joined RISI's Forest Products Latin America Conference 2026 in São Paulo, and took the opportunity to meet with our industry contacts and Brazilian investors to discuss the Pulp and Paper market. On top of the conference presentations (hosted by the CEOs of Suzano, Klabin, Bracell, Arauco and several others), we also spoke to pulp and paper traders, and forestry, pulp and paper consultants/experts. Overall, ...

ACL delivered a solid FY26 result with Underlying EBIT ahead of GSe and VA cons by ~8%/7% respectively. Revenue was softer (-1% vs. Gse/-0.4% vs. VA cons) but this appears largely driven by mix given the EBIT performance. Reported NPAT was a miss (-9% vs. GSe/-12% vs. VA cons) largely driven by a non cash write off of a prepayment to a supplier as part of the Medlab acquisition in 2022. The FY27 guide is also weaker on a revenue basis (~1% at the mid-point vs. VA cons) with EBIT at the mid-point, ~3% ahead ...

17 August 2026 | 9:18AM AEST Equity Research Aurizon Holdings (AZJ.AX): First Take: In-line result but forward earnings and DPS below expectations. Neutral Net/Net. Largely pre-guided (in-line) results with growth vs pcp across all divisions, while FY27 EBITDA guidance came in lower at -3% vs both our and VA consensus estimates, which we believe is driven by lower earnings contributions from all three business segments vs. GSe (with Coal being largest delta), and DPS came in -8%/-7% below GSe and VA consens ...

15 August 2026 | 9:23PM EDT Economics Research US Week Ahead: August 17 - August 23 The key economic data releases this week are the import prices report—because of its potential implications for core PCE—on Tuesday and the Philadelphia Fed manufacturing index on Thursday. There are currently no scheduled speaking engagements with Fed officials this week. The minutes to the FOMC's July meeting will be released on Wednesday. Monday, August 17 08:30 AM Empire manufacturing, August (consensus 10.5, last 15.6) ...

15 August 2026 | 5:58PM HKT Equity Research SMIC (0981.HK): AI demand to support UT rate and ASP ahead; Capacity expansion continues; Buy SMIC's 2Q26 GM beat our estimates (report link). In 2H26, we expect the company to be driven by (1) continuous capacity expansion, (2) Rising demand on AI related analog/ logic chips with higher ASP, riding on Gen-AI trend, and (3) growing demand from local clients to secure the supply chain. The company capacity increased to 1.097mn wafer per month (wpm) by 2Q26 in 8'' e ...