Industrials

Report by Horizon Insights

Ninebot (689009 CH) - Revenue +50% in 2025, electric two-wheeler profit +62%. The lawnmower robot business grew +124% and is structurally positioned to benefit from EU policy-driven industry consolidation. Dual-brand strategy (Ninebot + Segway) targeting 20% market share. This is a Chinese industrial with genuine European distribution infrastructure - a rare combination given current geopolitical sensitivities around China supply chains.

Orient Cable (603606 CH) - RMB 19.3bn order book, 60% in high-value submarine and high-voltage cable. Delivered UK Inchcape project ahead of schedule. China offshore wind accelerating to 12GW+ in 2026, European energy independence driving parallel demand and high-margin export cable mix rising. The 15th Five-Year Plan implies installed capacity doubling vs. the 14th. Order visibility is as clean as it gets in Chinese industrials.

Consumer Discretionary

Report by CEN-ESG

INCH sees its ESG score move above the Consumer Goods sector median following the publication of its inaugural standalone Sustainability Report aligned with GRI Standards. The company also conducted a new double materiality assessment to improve its strategic planning. Environmental disclosure included greater alignment with the TCFD framework, science-based targets for Scope 1 and 2 emissions and the introduction of mandatory sustainability and GHG questionnaires for suppliers. Social benefitted from the global rollout of an updated Code of Conduct with strengthened anti-discrimination policies. Governance scoring improved following the removal of nonmaterial questions from CEN’s V5 assessments. Also plans to integrate ESG metrics into long-term incentive schemes in FY24. Click here to access the report.