CLSA

Today on Bloomberg TV, Sanjeev Rana, Head of Korea Research at #CLSA, shared his views on Samsung’s Q1 earnings results, which significantly outperformed market expectations. While the consensus forecast for Q1 operating profits was around 5.2 trillion won, the actual figure came in at 6.6 trillion won. Sanjeev attributed this beat to strong performances in both Samsung's semiconductor and smartphone businesses. 25-30% of Samsung's revenue comes from the U.S., including the consumer electronics sector such as smartphones. To reduce exposure to U.S. tariffs, the company is actively diversifying its production bases across India, Korea, Indonesia, and Brazil. This strategy could enable Samsung to gain market share from competitors like Apple and other brands in the low- to mid-end market segment. Apple’s smartphones are 85-90% manufactured in China, snaring the competitor in a significant 54% effective tariff. Watch the full interview for more insights from Sanjeev. #CLSANews #CLSAInsights 

Today on Bloomberg TV, Christopher Richter, Senior Research Analyst at #CLSA covering Japan autos, shared his insights on the global auto industry amidst rising U.S. tariffs and inflationary pressures.   In Christopher’s view, the proposed tariffs are expected to significantly impact the U.S. auto market, hiking vehicle prices by over 14% and reducing demand, creating a stagflationary environment. Brands such as Mazda and Mitsubishi Motors, heavily reliant on exports to the U.S., are the most exposed, while Toyota and Honda, which produce more locally, are comparatively in a stronger position.   Christopher highlighted that potential tariffs on auto parts will further elevate costs, disproportionately impacting automakers heavily reliant on foreign components. As U.S. affordability declines, Christopher said that car buying is becoming increasingly limited to upper-middle-class consumers. German manufacturers that primarily focus on luxury brands such as Mercedes Benz, BMW, and Audi will be more resilient, while Korean manufacturers are likely to struggle due to their positioning as mass-market brands that attract more price-sensitive consumers. Watch the video to hear more from Christopher. #CLSANews #CLSAInsights

We’re delighted to announce that CITIC CLSA has chosen #LCH #EquityClear to provide pan-European equities clearing services. This will provide CITIC CLSA access to clearing for a broad range of equities and equity equivalents across a wide choice of trading venues and CSDs, whilst benefitting from operational efficiencies our #LCH's proven track-record of rigorous risk management and resilience. To learn more, visit https://lseg.group/3E4KRKS

𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝗝𝗮𝗽𝗮𝗻'𝘀 𝗲𝗰𝗼𝗻𝗼𝗺𝘆 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗲 𝗮 𝗰𝗼𝗺𝗲𝗯𝗮𝗰𝗸? Gain unique perspectives at our 21st CITIC CLSA Japan Forum 📅20-22 May 2025 | Tokyo   For enquiries, please contact your CITIC CLSA representative or email CLSA.Japan.Forum@clsa.com #CITICCLSAForums #CITICCLSAJapanForum

Join us at the 21st CITIC CLSA Japan Forum in Tokyo, Japan from 20-22 March 2025. With Japan's economic landscape shifting—wage growth surging, inflation on the rise, and the Bank of Japan adjusting rates—this is a prime opportunity for investors. Don't miss the chance to connect and discuss the future of Japan's economy. For enquiries, please contact your CITIC CLSA representative or email CLSA.Japan.Forum@clsa.com Find out more: https://lnkd.in/gX8pdQ3K Media release: https://lnkd.in/gGz6jiT5 #CITICCLSAForums #CITICCLSAJapanForum

🌎𝗟𝗶𝗴𝗵𝘁 𝗨𝗽 𝗖𝗵𝗮𝗻𝗴𝗲: 𝗖𝗜𝗧𝗜𝗖 𝗖𝗟𝗦𝗔 𝗝𝗼𝗶𝗻𝘀 𝗘𝗮𝗿𝘁𝗵 𝗛𝗼𝘂𝗿 𝘄𝗶𝘁𝗵 𝗕𝗿𝗲𝗮𝗱 𝗥𝘂𝗻 In support of the global Earth Hour movement, CITIC CLSA participated in the Bread Run event this year, moving beyond the traditional practice of simply switching off lights and showing their commitment to environmental responsibility and community engagement.   As the world dimmed its lights for Earth Hour 2025, CITIC CLSA offices across the globe, from Amsterdam to Sydney and all the way to the United States, stood in unity by turning off non-essential lighting. This collective gesture represented a shared dedication to combatting climate change and fostering a sustainable future.   In addition to the symbolic action of Earth Hour, CITIC CLSA volunteers took part in the Bread Run initiative. This night-time activity aims to tackle food waste while supporting vulnerable communities.   On the evening of 21 March 2025, volunteers from CITIC CLSA gathered to participate in the Bread Run organised by Breadline. Divided into small teams, they visited bakeries across Hong Kong Island to collect surplus bread that would otherwise go to waste. This surplus bread, gathered after closing hours, will find its way to those in need, from refugee families to low-income seniors and individuals experiencing homelessness.   The Bread Run not only aligns with the spirit of Earth Hour but also highlights the impact of collective action in making a positive difference to both the environment and society. Initiatives like this encourage others to explore various ways to support the Earth Hour campaign, illustrating that there are many opportunities to contribute to a more sustainable world. #CITICCLSAImpact #CITICCLSALife

As we conclude our #MarchForward series, we’ve talked to Eva Cheung, Deputy Head of Legal and Compliance & Head of Compliance, who discusses Resilience in the Face of Adversity as we #accelerateaction and how transforming challenges into opportunities can lead to success. With a focus on passion, curiosity, and teamwork, Eva emphasizes the importance of adapting to change and trusting your team. Let us all be inspired to forge our own paths and uplift those around us, remembering that our journeys are not just about personal achievements but about the positive influence we can have on others. Previous stories: Prachi Chandgothia: https://lnkd.in/gcVqix3K Julie He: https://lnkd.in/gxw6W8N5 Hsu Jen Chin, CFA: https://lnkd.in/gH8qsbKf #IWD2025 #CITICCLSAImpact #CITICCLSALife

Get ready for the 21st CITIC CLSA Japan Forum in Tokyo from 20-22 May, 2025. Connect with top-notch speakers and Japan's business elite and delve into crucial investment themes, from corporate governance and technology innovation to energy dynamics, security concerns, and the latest in geopolitics. Don't miss this opportunity to explore impactful tours and engage in insightful discussions that shape the future of business. For enquiries, please contact your CITIC CLSA representative or email CLSA.Japan.Forum@clsa.com #CITICCLSAForums #CITICCLSAJapanForum

Next, we feature Hsu Jen Chin, CFA, Head of Corporate Finance & Capital Markets, Malaysia, who explores The Power of Mentorship in fostering growth and resilience as we #accelerateaction. Inspired by her role model, Michelle Yeoh, Hsu highlights the importance of giving back and encourages others to seek support during challenging times. Previous stories: Prachi Chandgothia: https://lnkd.in/gdv3CxAr Julie He: https://lnkd.in/ggdfrfmr #IWD2025 #MarchForward #CITICCLSAImpact #CITICCLSALife

Today on Bloomberg TV, Chris G., #CLSA Consumer Research Analyst, shared her take on the market’s reaction to the recent policy announcements from the State Council Information Office aimed at boosting domestic consumption. Chris highlighted the special action plan which focuses on boosting household income, resources diversification, and fostering growth in emerging consumer sectors. In Chris’s view, the polices are in line with the market expectations. Some details are still pending including more on the nationwide new-birth subsidies and financial support from PBOC. Domestic consumption for high-beta names such as Baijiu and sportswear brands have already seen their share price rally, reflecting growing optimism for a gradual consumption recovery. Watch the full interview to hear more insights from Chris: https://lnkd.in/g8XRyMvr #CLSANews #CLSAInsights