A recovery in customer traffic and faster same-store sales growth supported a rebound in revenue, while improvements in gross margin and the selling expense ratio pushed profit above Bloomberg consensus. Meanwhile, net store additions fell markedly from the previous quarter.
Gradual implementation of price increases and an improved product mix lifted the gross margin, but foreign exchange losses and administrative expenses left profit for the first three quarters slightly below Nomura Orient’s expectations. The bank cut its 2026 earnings forecast and upgraded its rating from Neutral to Buy.
Third-quarter revenue edged down year on year and fell short of the Bloomberg consensus; lower selling, other and interest expenses drove growth in profit attributable to shareholders. Nomura maintains its Buy rating.
BofA expects global data center spending to approach 1 trillion dollars in 2026, with servers, networking and storage accounting for the bulk; demand for grid connections, power distribution and cooling is flowing through to equipment and service providers.
J.P. Morgan sees machine-tool and semiconductor investment supporting automation in Taiwan, but has cut its earnings forecasts for Chinese automakers; company results also show that revenue growth and improvements in profit quality do not always move in step.
Newmont led off with better-than-expected results and a large buyback. Bank of America expects the North American precious metals companies it covers to generate approximately 6.1 billion dollars in free cash flow in the third quarter, but production and cost pressures are driving divergent performance across companies.
Talks on the Russia-Ukraine issue in November and Ukraine’s reconstruction needs are forward-looking themes; the national standard for industrial data registration will take effect in 2027, while there are also new developments in robot vision, electronic braking and selected companies’ third-quarter results.
On 27 October, the index opened higher and then declined, with short-term sentiment falling alongside it in the afternoon. Cailian Press expects divergence may intensify further the following day and is watching the timing of funds returning to the robotics sector, while tracking companies associated with physical AI and silicon photonics.
The collaboration between Pia Automation and AgiBot covers joint development of robot bodies, component supply, and assembly and testing services. Development of the first cycloidal-type reducer prototype has been completed, while industrial AI software has yet to generate revenue on a standalone basis.
Huafu Securities is optimistic about domestic substitution and overseas expansion for surgical robots, while TINAVI’s cumulative procedure count continues to grow; Shenwan Hongyuan believes that, after a short-term pullback, the release of cargoes and slower vessel turnaround could support tanker rates.
The dividend yield of the CSI Dividend Index is low relative to the past five years, but Guosen Securities remains positive on its medium- to long-term allocation value. Polyester filament producers have eased inventory pressure through production cuts amid rising crude oil costs and contracting demand.
CATL expects it may achieve small-batch production of all-solid-state batteries in 2027. Southwest Securities believes the industry is still in the validation stage, with opportunities in materials and equipment emerging before battery production scales up.
Guosheng Securities is optimistic about demand for IMU data collection driven by robot training, while Changjiang Securities focuses on steelmakers’ cost advantages. Competition for the AI device interface is intensifying, while lower screen production costs are shifting value toward IP and distribution.
In the third quarter of 2026, Fulin Precision sold approximately 120 thousand tonnes of lithium iron phosphate (LFP). The pass-through of higher raw-material costs and production at or above capacity at its bases improved profit per tonne. The company is also expanding LFP capacity and plans to invest 500 million yuan in a robotics electric joint project.
Lens Technology’s components for AI servers are entering the mass-production ramp-up stage, while its foldable-screen production lines are operating at full capacity; Topstar booked orders for approximately 10 thousand industrial robots in the first three quarters, and carbon brake discs for some newly developed military aircraft at Beijing Bei Mo High-Tech Frictional Material have entered small-batch delivery.
Semiconductors led technology stocks higher; Cadence and Celestica raised their outlooks, but recurring revenue, gross margins and cash flow remain constraints. A 63 billion-dollar financing involving Broadcom supports Anthropic’s purchases while bringing residual-value risk.
Bank of America expects AWS revenue to grow 40% year over year in the third quarter, above market expectations, but slowing retail growth, fuel costs and continuously rising capital expenditure will test profits and cash flow.
OLX core revenue grew 19% year over year, while its adjusted EBITDA margin rose to 48%. Automotive and real estate grew rapidly, and management is using AI to improve efficiency and expand performance-based pricing.
Citi believes sac-TMT and personalized neoantigen therapy are becoming the two pillars of Merck’s post-Keytruda oncology strategy, but more clinical evidence is needed to offset the impact of the end of Keytruda’s exclusivity.
Numerator data tracked by JPMorgan show that estimated US household food and beverage sales fell year over year again in the 13 weeks through September 2026. Discount stores led channel growth, while online growth slowed from double digits to 3%.
