EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

Ecopro BM (247540 KS)

Materials

Sandalwood Advisors

Ecopro BM is South Korea's largest producer of cathodes for EV batteries. The company is an important supplier to BMW and Tesla and can be viewed as an early indicator to EV market demand. Recently, Ecopro BM reported a major decline in revenue growth, stating 1Q24 Total Revenue (KRW) at -52% Y/Y and below market expectations. Global investors who closely follow Ecopro and the EV market used Sandalwood’s South Korea data to accurately track this trend.

Edition: 186

- 17 May, 2024