Nomura’s Asia ex-Japan Daily Research Summary, released on 30 May 2025, highlights mixed financial performances across several sectors.
IHH Healthcare’s first-quarter results fell short of expectations, with a 6% year-on-year revenue increase but a 33% decline in profit after tax and minority interest (PATMI) to MYR514m. The Singapore market faced challenges due to renovations at Mount Elizabeth hospital, impacting overall performance.
Meanwhile, Farm Fresh reported an 18% year-on-year rise in fourth-quarter earnings, attributed to accelerated revenue growth and a gross margin increase of 1.4 percentage points. The company’s revenue grew by 13% year-on-year, driven by strong sales in Malaysia and new product launches.
Li Auto’s first-quarter results showed a 20.5% gross profit margin, surpassing expectations, although non-GAAP earnings declined by 20% year-on-year. The company’s outlook remains uncertain, with its i Series battery electric vehicle models expected to play a crucial role in future performance.
CSPC’s first-quarter results were weaker than anticipated, with a 21.9% drop in revenue and an 8.4% decline in earnings. The company’s gross margin narrowed by 5.2 percentage points due to unfavourable product changes, although lower selling expenses partially offset this.
These findings underscore the diverse challenges and opportunities faced by companies in the region. As businesses navigate these complexities, Nomura’s insights provide valuable guidance for investors and stakeholders. Looking ahead, the performance of key sectors will be closely monitored, with potential implications for future economic trends in Asia.
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