Broker Name: CGS International
Date of Report: August 22, 2025
Excerpt from CGS International report.
Report Summary
- ISDN Holdings Ltd’s 1H25 revenue grew 22% year-on-year to S\$212.9m, driven by recovery in China’s industrial activity and automation growth in Southeast Asia, but 1H25 net profit fell 66% due to unrealised foreign exchange losses from its mini-hydropower business.
- Excluding foreign exchange losses, net profit would have grown 35% year-on-year; ISDN remains optimistic about long-term prospects, especially with the mini-hydropower segment and expansion in Asia, and maintains an “Add” rating with a target price of S\$0.44, expecting earnings growth to resume in FY26-27.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgsi.com
