Independent, data-driven fundamental analysis on global industry leaders.
Specifically focus on Technology and Biotechnology.
Article list:
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Global top 100 companies as of 2025/12/23
The table below presents the top 100 global companies by market capitalization. Please click on the links to access articles for each company. I will continuously update the articles for each company in the list. The global top 100 market capitalization compaines (as of 2025/12/23) Rank Company ticker 1 NVIDIA NVDA 2 Apple AAPL 3…
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AMD – 2025Q3 report
Here is a detailed summary of the AMD 10-Q SEC Filing for the third quarter ended September 27, 2025: 1. Financial Highlights 2. Strategic Business Segment Performance 3. Major Acquisition: ZT Systems 4. Key Risk Factors 5. Operational Outlook The document portrays AMD as a company in a massive transition phase, shifting capital aggressively toward…
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AMD – History and Competitions
Phase 1: Foundations and the “Second Source” Era (1969-1990) In its early years, AMD operated primarily as a licensed manufacturer for other companies’ designs, most notably as a backup supplier for Intel. Core Technology: Logic chips, SRAM, and x86 Second Source Technology (8086, 80286) licensed from Intel. Revenue Level: Phase 2: Independent x86 Development and…
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ICBC – 2025Q3 report
Performance Overview and Revenue Shifts The Group achieved an operating income of RMB 610,968 million, a year-on-year (YoY) increase of 1.98%. Net profit rose slightly by 0.52% to RMB 271,882 million. A critical shift is observed in the revenue mix: Net Interest Income decreased by 0.70% due to narrowing Net Interest Margins (NIM) in a…
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ICBC – Competitions
As the world’s largest bank by total assets, the competitive landscape for the Industrial and Commercial Bank of China (ICBC) is multi-dimensional. We can analyze its position through Peer Competition (The Big Four), Disruptive Challenges (Fintech), and a comprehensive SWOT Analysis. 1. Peer Competition: The Battle of the “Big Four” (2025-2026 Data) While ICBC leads…
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ICBC – History
The history of the Industrial and Commercial Bank of China (ICBC) is a microcosm of China’s financial system reform. Since its spin-off from the People’s Bank of China (the central bank) in 1984, its development can be categorized into five key stages: Phase 1: Establishment and Specialized State Bank (1984 – 1993) This stage marked…
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Alibaba – FY26Q2 report
This interim report details Alibaba Group’s financial performance and strategic initiatives for the six months ended September 30, 2025 (Fiscal Year 2026). Below is a comprehensive summary of the key findings: 1. Financial Performance Overview 2. Segment Analysis 3. Strategic Pillars 4. Shareholder Returns 5. Future Outlook The management emphasizes a balance between maintaining market…
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Alibaba – Competitions
In 2026, Alibaba’s competitive landscape has evolved from a simple domestic e-commerce rivalry into a multi-front “War of Ecosystems.” The company is currently balancing its role as a “Cash Cow” in domestic retail with its ambition to be the “AI Infrastructure” leader. Here is a strategic analysis of Alibaba’s competition across three core pillars: 1.…
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Alibaba – History
The history of Alibaba Group is a remarkable narrative of how a small B2B marketplace transformed into a global technology empire. We can categorize its evolution into four distinct eras: 1. The Founding & Survival (1999 – 2003): The B2B Era This stage was defined by Jack Ma and the “18 Founders” building a bridge…
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LVMH – 2025H1 report
LVMH H1 2025 Financial Analysis Summary LVMH’s financial results for the first half of 2025 reflect a period of significant transition. The group faced a tightening global luxury market, resulting in a contraction of both top-line revenue and bottom-line profitability. However, robust cash flow and specific sector resilience suggest a strategic pivot toward operational efficiency…
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LVMH – Competitions
As we move through 2026, the luxury market is emerging from a “market detox” phase. LVMH continues to use its multi-brand matrix to mitigate risk, but it faces specialized challengers across three key battlegrounds. 1. Fashion & Leather Goods: The Empire vs. Extreme Scarcity This division is the group’s “engine,” contributing approximately 75% of recurring…
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LVMH – History
1. The Genesis: Merging Two Titans (Pre-1987) Before it was a conglomerate, LVMH consisted of separate, centuries-old family businesses. Phase 1: The Foundation (1987 – 1989) 2. The Arnault Era & Expansion (1988–2000) This stage saw the rise of Bernard Arnault, the “Wolf in Cashmere,” who transformed the company into a modern empire. Key Acquisitions:…
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Agriculture Bank of China – 2025Q3 report
Overall, the report reflects a “steady growth” trajectory. Despite the compressed net interest margins facing the broader Chinese banking sector, ABC has managed to maintain positive growth in both revenue and net profit while improving its asset quality. Here is a brief analytical breakdown of the key highlights: Financial Performance & Efficiency Asset Quality and…
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Agriculture Bank of China – Competitions
A competitive analysis of the Agricultural Bank of China (ABC) requires placing it within the context of the “Big Four” state-owned commercial banks (ICBC, CCB, ABC, BOC) and the evolving landscape of digital fintech challengers. ABC’s competitive positioning is defined by its unique “Dual-Engine” strategy: dominating the rural (County Area) market while maintaining a powerful…
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Agriculture Bank of China – History
The history of Agricultural Bank of China (ABC) is unique among China’s “Big Four” state-owned banks. It is often described as a journey of “Three Ups and Three Downs” (due to being abolished and reinstated multiple times) before eventually evolving into a global financial powerhouse. Here is the historical breakdown of ABC by stage: 1.…
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Abbvie’s recent M&As in 2024-2025
Since we are looking at this from a Financial Analysis and M&A Strategy perspective, the AbbVie/Capstan deal is a classic example of a “Platform Play” aimed at replacing a declining cash cow (Humira) with high-moat technology. Here is the strategic breakdown of the acquisition: 1. Strategic Context: The “Humira Cliff” AbbVie has been the king…
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Costco – FY26Q1 report
Costco Wholesale Corporation Detailed Executive Summary – FY26 Q1 (Reporting Period: 12 Weeks Ended November 23, 2025) Costco’s performance in the first quarter of fiscal 2026 demonstrates high operational efficiency and the successful execution of its membership-centric business model. While top-line revenue growth remained steady, the company saw a significant surge in profitability. 1. Financial…
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Costco – Competitions
In the retail landscape, Costco is widely regarded as a “moat-driven” powerhouse. Its competitive strategy isn’t just about low prices; it is about operational efficiency that competitors find nearly impossible to replicate without changing their entire business model. Here is the competitive analysis of Costco as of early 2026: 1. Direct Competitors: The Warehouse Club…
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Costco – History
Here is the history of Costco Wholesale Corporation broken down into key strategic phases. This progression shows how they evolved from a niche warehouse concept into a global retail powerhouse. Phase 1: The “Price Club” Foundation (1976 – 1982) This period established the “Membership Warehouse” DNA. Phase 2: Birth and Rapid Growth (1983 – 1992)…
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Netflix – 2025Q3 report
1. Financial Performance Overview 2. Operational Strategy & Metric Changes 3. Significant One-time Items & Risks 4. Regional Revenue Performance All regions showed upward revenue trends: 5. Cash Flow & Balance Sheet 6. Other Financial Information 1. Consolidated Statements of Operations (In thousands, except percentages) Items 2025 Q3 Amount 2025 Q3 % of Rev 2024…
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Netflix – Competitions
In 2026, Netflix has transformed from a streaming-only platform into a comprehensive “Hybrid Media Giant.” The competitive landscape is no longer just about subscriber counts; it is a high-stakes battle for Average Revenue Per User (ARPU), advertising dominance, and live entertainment rights. Here is the strategic competitive analysis of Netflix as of January 2026: 1.…