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STI Movers: JMH USD Leads Gains as UIBREIT Slides 8.5%

Singapore  equities  saw  mixed  moves  on  Thursday,  with  selective  strength  among  blue  chips  while  REITs  showed  sharper  volatility. STI  Top  Gainers Top  Performer: Jardine Matheson Holdings Ltd  (J36. SG) +2.21%  to  S$76.31 Other  notable  gainers: Thai Beverage PCL  +1.14% Wilmar International Ltd  +1.08% Hongkong Land Holdings Ltd  +1.07% Seatrium Ltd  +0.84% Key  Point:  Jardine  Matheson  led  STI  gains,  reflecting  strength  in  regional  conglomerates. STI  Top  Losers DFI Retail Group Holdings Ltd  (D01. SG) -5.26%  to  S$4.50 Other  laggards  included: UOL Group Ltd  -2.81% Yangzijiang Shipbuilding Holdings Ltd  -1.47% Genting Singapore Ltd  -1.47% SATS Ltd  -1.08% REITs  Movers Top  Gainers BHG Retai...
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Super Micro Stock Surges 22% After Filing Delayed Financials, Avoids Nasdaq Delisting

Regaining Compliance

Super Micro Computer (SMCI) saw its stock soar 22% in after-hours trading after finally filing its delayed 10-K report and quarterly reports for September and December. This move allowed the company to regain Nasdaq compliance, preventing a potential delisting.

Key Updates from Super Micro’s Financial Filing:

  • Revenue for FY2024 (ended June 30) was 0.3% higher than preliminary reports.
  • Net income revised down by 4.6%.
  • BDO audit confirmed the financial statements are fair, though it flagged internal control weaknesses over financial reporting.
  • Super Micro now meets SEC reporting obligations, officially closing the matter with Nasdaq.

Background: Delisting Concerns & Short Seller Allegations

  • Super Micro had delayed its filings in August 2024 after Hindenburg Research alleged accounting issues.
  • Ernst & Young resigned as auditor in October, citing an unwillingness to be associated with the company's financials.
  • BDO was appointed as the new auditor in November, leading to the latest filings.
  • This isn’t the first compliance issue—Super Micro was previously delisted in 2018 before being relisted in 2020.

Market Reaction & Outlook

  • Stock dropped 11.8% on Tuesday before the filing, reflecting investor uncertainty.
  • Despite turbulence, shares remain up 50% in 2025, showing that investors still believe in the AI server company’s potential.
  • Analysts warn that institutional investors avoid non-Nasdaq stocks, meaning a delisting could have been a major setback.

Summary:

  • Super Micro dodges delisting after filing delayed financials, stock jumps 22%.
  • New filings confirm revenue growth but highlight financial control weaknesses.
  • Despite past compliance issues, investor confidence in the AI-driven company remains strong.
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