As of August 2025, Siemens AG enters the next three years with steady fundamentals and renewed share-price momentum. The stock has climbed 38.87% over 12 months, closing recently near €236.60 and within reach of its €244.85 high. On trailing figures, revenue stands at €78.3B with a 12.65% profit margin and 13.49% operating margin, supported by €12.42B in EBITDA and €7.87B in net income. Balance-sheet liquidity (current ratio 1.50) offsets a sizable €56.69B debt load and €14.64B cash. Dividend discipline remains intact with a forward rate of €5.20 (2.20% yield) and a 52.63% payout ratio. While headlines point to a new 12‑month high and a “Hold” consensus, modest quarterly growth (revenue +2.5% y/y; earnings +3.3% y/y) implies execution remains key. The next leg likely hinges on demand in automation, electrification, and software-driven efficiency.

Samsung Electronics (005930.KS) enters late‑2025 with improving, but uneven, fundamentals. Trailing‑12‑month revenue stands at 308.59T with net income of 30.32T, implying a 9.83% profit margin and a 6.27% operating margin. Liquidity and balance‑sheet strength remain clear positives: cash of 100.73T versus 14.03T of debt and a 2.51 current ratio. The share price has rebounded toward the top of its 52‑week range, closing the week of August 29 at 69,700, compared with a 49,900–75,000 band and a 50‑day/200‑day moving average of 66,320/58,300.5. Yet growth is modest, with quarterly revenue up 0.70% year over year and quarterly earnings down 48.80%. With a forward dividend of 1,456 (2.09% yield) and beta of 0.75, investors face a classic mix: defensive cash generation, a cyclical memory upswing, and execution tests in foundry and devices.

JD.com enters the next three years balancing growth and discipline. Trailing-12-month revenue is 1.27T with quarterly revenue growth of 22.40%, yet profitability remains thin (profit margin 3.06% and operating margin -0.30%). EBITDA of 40.02B and net income of 38.65B sit alongside negative levered free cash flow of -14.16B, underscoring investment intensity. The balance sheet is a support: total cash 213.84B versus debt of 100.79B, and a newly established forward dividend rate of 1 implies a 3.29% yield. Shares have eased toward the 50-day average of 32.07, below the 200-day at 35.89, after a volatile year between the 52-week low of 25.61 and high of 47.82. A reported plan to list a Singapore REIT could unlock capital from logistics real estate and act as a catalyst if execution is timely.

PDD Holdings enters the next three years with a powerful mix of scale, profitability, and cash reserves, offset by guidance caution and competitive intensity. The company reports trailing-12-month revenue of 409.62B and a profit margin of 23.91%, supported by an operating margin of 24.80%. Cash of 387.13B versus 10.96B total debt and a 2.36 current ratio provide ample flexibility for marketing, logistics, and quality initiatives, such as Temu’s recent partnership with FITI. Shares are up 27.17% over 52 weeks, with a recent close near 120 and a 50-day average of 112.07. Headlines show Q2 beats alongside management’s tempered expectations and a recent analyst downgrade, underscoring a balanced risk-reward. With a five-year beta of 0.41 and no dividend, PDD’s appeal rests on sustained Temu growth, disciplined investment, and the durability of mid‑20s margins amid regulatory and competitive pressures.