Strength-8 - FoxLogica

📉 TSBL: SELL Signal (8/10) – Presentation-Corporate Briefing Session 2025 of TSBL

⚡ Flash Summary

Trust Securities and Brokerage Limited (TSBL) held a corporate briefing session in 2025. The company’s operating revenue increased from PKR 211.99 million in 2024 to PKR 251.09 million in 2025. However, profit after tax significantly decreased from PKR 83.99 million to PKR 19.17 million, resulting in a drop in Earnings Per Share (EPS) from PKR 2.80 to PKR 0.64. The presentation included an overview of the company, its vision and mission, board of directors, financial services, and a profit & loss statement.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📈 Operating revenue increased to PKR 251.09 million in 2025 from PKR 211.99 million in 2024.
📉 Profit after tax decreased significantly to PKR 19.17 million in 2025 from PKR 83.99 million in 2024.
📉 Earnings Per Share (EPS) dropped to PKR 0.64 in 2025 from PKR 2.80 in 2024.
💰 Gain on sale of short-term investments decreased to PKR 13.90 million in 2025 from PKR 96.96 million in 2024.
⚠️ Operating and administrative expenses increased to PKR 272.34 million in 2025 from PKR 233.57 million in 2024.
💸 Finance cost decreased to PKR 11.75 million in 2025 from PKR 13.51 million in 2024.
📊 Other charges decreased to PKR 22.80 million in 2025 from PKR 44.21 million in 2024.
💼 Other income increased to PKR 66.69 million in 2025 from PKR 59.05 million in 2024.
🏢 The company has a presence in Lahore and Karachi with a total of 6 branches.
🤝 TSBL aims to provide unmatched services to help clients achieve targets in the capital market.
🎯 The company’s vision is to create a diversified brokerage and financial services business.
👤 The board of directors includes Abdul Basit (CEO), Zenobia Wasif (Chairperson), and others.
✅ TSBL offers financial consultancy, technical, and fundamental analysis.
🗓️ The corporate briefing session took place in 2025.

🎯 Investment Thesis

Given the significant decrease in profitability and EPS, a SELL recommendation is appropriate for TSBL. The company’s financial performance has deteriorated, and there are notable financial and operational risks. The lack of specific future guidance or strategic initiatives to reverse the trend further supports a negative outlook. The price target should be revised downwards to reflect the decreased earnings potential.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements ITANZ Signal: BUY

📈 ITANZ: BUY Signal (8/10) – Financial Results for the Quarter Ended 2025-09-30

⚡ Flash Summary

ITANZ Technologies Limited reported strong financial results for the quarter ended September 30, 2025. The company’s revenue increased significantly by 51.76% compared to the same period last year, driven by securing a major local contract. Profit after tax also saw substantial growth, reaching Rs. 58,799,279 compared to Rs. 27,565,815 in the corresponding period of 2024. This positive performance led to an increase in earnings per share (EPS) from Rs. 0.26 to Rs. 0.55.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚀 Revenue surged by 51.76% YoY, reaching Rs. 89,734,679 due to a significant local contract.
💰 Profit after tax more than doubled to Rs. 58,799,279, a substantial increase from Rs. 27,565,815 last year.
📈 EPS improved significantly to Rs. 0.55, compared to Rs. 0.26 in the first quarter of 2024.
📉 Direct costs decreased by 27% YoY, driven by effective cost control measures.
🌐 The company resumed its principal IT business operations and obtained CDC eligibility.
💼 Administrative expenses slightly decreased to Rs. 8,804,459 from Rs. 9,382,851 in the previous year.
🏦 Finance costs increased to Rs. 5,413,228 from Rs. 3,460,562 in the previous year.
🧾 Trade and other payables decreased from Rs. 195,283,006 to Rs. 128,745,158, indicating better liability management.
💹 Authorized share capital remains constant at Rs. 1,200,000,000.
💸 Cash and bank balances decreased to Rs. 5,925,448 from Rs. 26,987,122 indicating increased cash utilization.

🎯 Investment Thesis

Based on the strong quarterly performance, I recommend a ‘HOLD’ with a cautious outlook. The significant revenue and profit growth driven by local contracts is a positive sign, but further data is needed to assess the sustainability of these gains. The company’s past regulatory compliance issues also warrant careful monitoring. While the fundamentals are improving, a more conservative approach is warranted until more data is available.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements GLPL Signal: SELL

📉 GLPL: SELL Signal (8/10) – Corporate Briefing Session 2025 – Presentation

⚡ Flash Summary

Gillette Pakistan Limited (GLPL) faces significant challenges, as Procter & Gamble will discontinue business in Pakistan as part of a global restructuring. The company reported a loss after tax of PKR 25.95 million for the year ended June 30, 2025, compared to a profit of PKR 25.95 million the previous year. Despite a 15% increase in revenue driven by strategic interventions, macroeconomic headwinds and import duties impacted cost structures, resulting in a decrease in profitability. The sponsor, SABV, has proposed to buy back shares held by minority shareholders at PKR 216.49 per share.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

📉 GLPL reported a loss after tax of PKR 25.95 million in 2025, a significant reversal from the profit of PKR 25.95 million in 2024.
Revenue increased by 15% from PKR 1,502.01 million to PKR 1,719.85 million.
⚠️ Gross profit decreased from PKR 482.35 million to PKR 340.37 million, reflecting higher cost of goods sold.
Expenses decreased from PKR (211.900) million to PKR (126.663) million.
💸 Operating loss of PKR (7.621) million compared to a profit of PKR 153.326 million in the previous year.
Import duties and macroeconomic headwinds negatively impacted profitability.
✨ Strategic interventions led to a significant revenue growth of 15%.
Retail, wholesale, and supermarket channels were expanded to boost sales.
In-store execution was improved, and targeted customer acquisition initiatives were implemented.
Procter & Gamble decided to discontinue its business in Pakistan as part of global restructuring.
SABV proposed to buy back shares from minority shareholders at PKR 216.49 per share.
Current assets decreased significantly from PKR 2,723.73 million to PKR 1,442.316 million.
Inventories saw a major decline from PKR 1,111.711 million to PKR 599.677 million.
Total liabilities and equity decreased from PKR 2,880.407 million to PKR 1,598.830 million.

🎯 Investment Thesis

I recommend a SELL rating for GLPL. While the revenue growth demonstrates the company’s ability to capture market share, the significant decline in profitability and the impending delisting make the stock unattractive. The buyback offer at PKR 216.49 per share represents a fair exit price for minority shareholders, given the circumstances. The time horizon for this recommendation is short-term, as the delisting process is expected to occur within the coming months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements LEUL Signal: SELL

📉 LEUL: SELL Signal (8/10) – Presentation for LEATHERUP LIMITED-Corporate-Briefing-Session

⚡ Flash Summary

Leather Up Limited (LEUL) reported a challenging FY2025 with a significant decline in financial performance. Revenue decreased sharply, leading to net losses compared to profits in the previous year. The company attributes the downturn to weakened export demand in Europe and increased input costs. Management is focused on cost control, market diversification, and securing new export orders to improve performance.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📉 Revenue decreased significantly to Rs 12.09m in FY2025 from Rs 27.53m in FY2024.
❌ The company reported a Profit/(Loss) Before Tax of (Rs 4.32m) in FY2025, compared to a profit of Rs 0.57m in FY2024.
⛔ Profit/(Loss) After Tax was (Rs 4.51m) in FY2025, a substantial drop from Rs 0.32m in FY2024.
📉 EPS declined to (Rs 0.75) in FY2025 from Rs 0.05 in FY2024.
⚠️ Accumulated Loss increased to (Rs 48.98m) in FY2025.
🌍 Weakened export demand in Europe due to prevailing economic conditions drove the sales decline.
💸 Gross margin reduced due to increased cost of goods sold and competitive pricing pressures.
📈 Operating loss significantly increased to Rs 4.99m, compared to Rs 90.8k in the prior year.
💼 Current ratio improved to 3.63x compared to prior year (3.34x).
✔️ Net Working Capital is positive, supporting operations at Rs 14.13m.
🏦 Strong banking relationships with MCB, UBL, and Faysal Bank ensure access to necessary facilities.
🌍 Management is actively exploring new export markets to diversify revenue streams.
🛡️ Cost control measures and supplier negotiations are being implemented to manage input expenses.
📊 Proactive efforts led to securing export orders of Rs 22m in Q1 FY2026, signalling a potential positive shift.

🎯 Investment Thesis

Based on the significant decline in financial performance and increased accumulated loss, a SELL recommendation is warranted. The company faces several risks, and while management is implementing mitigation strategies, the overall outlook remains challenging. A price target would depend on a more detailed valuation analysis, but the current information suggests a negative outlook. I expect this downturn to extend into the medium term.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements HINO Signal: BUY

📈 HINO: BUY Signal (8/10) – Transmission of Half-Yearly Report for the Period Ended September 2025

⚡ Flash Summary

Hinopak Motors Limited’s half-yearly report for September 2025 reveals a significant turnaround in the commercial vehicle market in Pakistan, with overall sales increasing by 117%. Hinopak’s sales volume also rose substantially to 306 units from 189 units in the prior year. This surge translated to a notable increase in sales revenue, reaching Rs. 6.92 billion compared to Rs. 4.62 billion previously. Consequently, the company reported a profit after tax of Rs. 540.28 million, a stark contrast to the loss of Rs. 47.24 million in the corresponding period last year, resulting in earnings per share of Rs. 21.78.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Total commercial vehicle sales in Pakistan increased by 117% year-over-year.
🚌 Hinopak’s sales volume surged from 189 to 306 units. 🚀
💰 Sales revenue grew significantly to Rs. 6.92 billion from Rs. 4.62 billion. 💸
✅ Gross profit increased to Rs. 1.32 billion compared to Rs. 614.86 million. 🎉
📉 Finance costs decreased to Rs. 189.63 million from Rs. 227.39 million. 👍
🌟 Profit after tax reached Rs. 540.28 million, a turnaround from a loss of Rs. 47.24 million. ✨
💲 Earnings per share (EPS) stood at Rs. 21.78, compared to a loss per share of Rs. 1.90 last year. 🍀
✔️ Finance cost includes Rs. 70.89 million in net exchange loss and Rs. 99.47 million in mark-up on short-term borrowings. 🏦
🛣️ Macroeconomic conditions and government focus on infrastructure are expected to support demand. 🏗️
🤝 Sincere gratitude expressed to parent companies, customers, and the Hinopak team. 🙌
📊 The Company issued bank guarantees amounting to Rs. 215 million in relation to Sindh infrastructure cess.
✔️ Sales to Indus Motor Company Limited amounted to Rs. 1.31 billion accounting for 18.92% of the net sales.

🎯 Investment Thesis

Based on the strong turnaround and positive outlook, a BUY recommendation is justified for Hinopak Motors Limited. The company has demonstrated resilience and growth potential, supported by improving macroeconomic conditions and effective cost management. A price target of Rs. 100 is set, based on a multiple of 4.5 times the annualized EPS, with a medium-term horizon of 18 months.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 28, 2025

announcements NEXT Signal: BUY

📈 NEXT: BUY Signal (8/10) – Corporate Briefing Session – 2025 Presentation

⚡ Flash Summary

Next Capital Limited announced its Corporate Briefing Session for the year ended June 30, 2025. The company reported a strong turnaround, reversing losses from the previous year. Brokerage income surged by 96.85%, driven by increased turnover in the Pakistan Stock Exchange (PSX). The company’s strategic expansion into fintech through Finqalab demonstrates a commitment to innovation and attracting new investors, with 83% being first-time investors.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚀 Brokerage income surged by 96.85% to PKR 238.4 million, fueled by higher client trading flows.
📈 The company reversed losses, reporting a profit before tax of PKR 38.13 million.
💰 Profit after tax reached PKR 28.73 million, indicating a significant financial recovery.
⭐ Earnings per share (EPS) improved to PKR 0.50.
✅ Advisory and related income increased to PKR 92.25 million, up from PKR 67.07 million.
📊 EBIT margin improved to 22.8%, compared to 15.4% in the previous year.
🌱 Net profit margin swung to 10.1%, a considerable improvement from -10.2%.
💼 Operating costs increased to PKR 147.957 million, reflecting investments in revenue-generating capabilities.
📉 Administrative costs slightly decreased to PKR 132.599 million.
💸 Total assets increased to PKR 1,113.2 million, driven by higher cash and investments in intangibles.
🏦 Cash and bank balances increased to PKR 424.9 million, supporting operations and working capital.
📉 Trade debts decreased by ~40.6% to PKR 73.0 million.
⬆️ Trade and other payables climbed ~89.3% to PKR 482.3 million, reflecting tighter collections and higher vendor financing.
🌐 Intangible assets increased to PKR 235.1 million, emphasizing investment in technology.
🤝 Shareholders’ equity rose to PKR 435.1 million as accumulated losses narrowed.

🎯 Investment Thesis

BUY. Next Capital’s demonstrated turnaround, significant growth in brokerage income, and strategic investment in fintech warrant a BUY recommendation. The company has shown its ability to capitalize on favorable market conditions and enhance operational efficiency. The expansion into Finqalab represents a growth catalyst, attracting new investors and diversifying revenue streams. Price Target: A 20-30% increase over the next 12-18 months, contingent on continued market stability and successful execution of growth strategies.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements JATM Signal: SELL

📉 JATM: SELL Signal (8/10) – Corporate Briefing Session 2025

⚡ Flash Summary

J. A. Textile Mills Limited’s corporate briefing for 2025 reveals a challenging financial landscape. The company experienced a significant surge in revenue, jumping from PKR 129.95 million in 2024 to PKR 1,430.99 million in 2025. Despite this impressive increase in sales, the company reported a gross loss of PKR 63.33 million. The company’s accumulated losses have further widened, reaching PKR 140.42 million, and the company also grapples with substantial current liabilities exceeding PKR 460 million. The report paints a picture of a company struggling to convert revenue into profitability, indicating potential operational inefficiencies or high costs of goods sold.

Signal: SELL 📉

Strength: 8/10

Sentiment: NEGATIVE

Time Horizon: SHORT_TERM

📌 Key Takeaways

⬆️ Revenue soared from PKR 129.95 million to PKR 1,430.99 million year-over-year.
📉 Gross loss reported at PKR 63.33 million, indicating cost challenges.
❌ Accumulated losses widened to PKR 140.42 million.
⚠️ Negative EPS of (3.3592) compared to (4.8274) last year.
💰 Total Comprehensive Income was PKR 193.62 million, influenced by revaluation surplus.
🏢 Total assets stand at PKR 1,251.56 million.
Liabilities (excluding equity) are PKR 606.28 million.
📉 Negative Pre-tax profit/(loss) to sales %: (57.68)
💸 Current liabilities at PKR 460.91 million.
📉 Fixed Assets (Cost/Revalued) increased to 842.13 million from 556.40 million
👎 Negative Earning after tax per share (Rs.): (4.7274)
🏦 Loan from related parties increased from 126.29 million to 160.79 million
📉 Negative Pre-tax profit/(loss) to capital %: (59.48)

🎯 Investment Thesis

Based on the analysis, a SELL recommendation is warranted. The company’s inability to generate profit despite increased revenue, coupled with rising losses and liquidity issues, presents significant downside risk. A price target significantly lower than the current paid up value of 10 per share is justified, until the company can demonstrate sustainable profitability and improved financial health. Given the current financials, a short-term horizon is recommended.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited

⚡ Flash Summary

Big Bird Foods Limited (BBFL) reported strong growth in its latest corporate briefing for 2025. The company highlighted a significant increase in turnover and earnings per share (EPS) compared to the previous year. BBFL’s turnover increased by 1.58x, reaching Rs. 11.36 billion in 2025 compared to Rs. 7.21 billion in 2024. The EPS also saw substantial growth, increasing by 1.39x, with an EPS of PKR 3.90 in 2025 versus PKR 2.80 in 2024, demonstrating the company’s sustained performance amidst challenging market conditions.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

🚀 Turnover increased by 1.58x, from Rs. 7.21 Bn in 2024 to Rs. 11.36 Bn in 2025.
💰 EPS grew by 1.39x, from PKR 2.80 in 2024 to PKR 3.90 in 2025.
📈 YTD September 2025 growth shows underlying sale growth of 57.7%.
✅ Profitability with an operating margin of 16.78%.
🏢 Incorporated on Sep 21, 2011, as a Private Limited Company.
전환️ Converted to a Public Limited Company on June 01, 2023.
🏢 Became a Public Listed Company on Aug 05, 2024, listed on Pakistan Stock Exchange.
📍 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🌐 Sales and Distribution Network across all major cities of Pakistan.
🌱 Sustainability initiatives include commissioning a 3 MW solar power project to offset ~40% of energy needs.
🌳 Approximately 17,000 plants cultivated on 20 acres to reduce the carbon footprint.
🤖 Continued investment in automation for efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Governance & ESG: Strengthening compliance and ESG alignment.

🎯 Investment Thesis

Based on the strong growth in turnover and EPS, a **BUY** recommendation is warranted. The company’s strategic initiatives, such as sustainability projects and market expansion, support continued growth. The company’s recent listing could lead to more liquidity. A price target requires further detailed financial modeling, but based on the 39% increase in EPS year over year, and assuming a similar trend over the next two years, a price target reflecting similar growth to the share price over a **MEDIUM_TERM** (1-2 years) timeframe is justifiable, assuming the company maintains or exceeds its operational efficiency.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited REVOKED

⚡ Flash Summary

Big Bird Foods Limited (BBFL) has shown significant growth in 2025, as presented in their corporate briefing. The company transitioned from a private to a public listed company in recent years. BBFL’s turnover increased by 58% from 2024 to 2025, reaching Rs. 11.36 billion. The company’s Earnings Per Share (EPS) also grew by 39% to PKR 3.90, indicating improved profitability amid challenging market conditions. They are also investing in sustainability and automation to improve efficiency and reduce costs.

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Turnover increased by 58% from Rs. 7.21 Bn (2024) to Rs. 11.36 Bn (2025).
💰 EPS increased by 39% from PKR 2.80 (2024) to PKR 3.90 (2025).
🌱 The company is committed to sustainability with a 3 MW solar power project to offset ~40% of energy needs, saving an estimated PKR 600 million.
🌳 Approximately 17,000 plants have been cultivated on 20 acres of vacant land to reduce the carbon footprint.
⚙️ Continued investment in modern food-processing automation to improve efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Enhanced employee welfare, training, and performance-development programs.
✔️ Optimization of production capacities and resources for improved margins.
🔒 Strengthening compliance, code of conduct, and ESG alignment for stakeholder confidence.
⭐ Vision to position Big Bird Foods as a leading international halal brand, known for quality, innovation, and sustainability.
🏢 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🚚 Sales and Distribution Network across all major cities of Pakistan.
📅 Incorporated on Sep 21, 2011, converted to public limited company on June 01, 2023, and listed on Pakistan Stock Exchange on Aug 05, 2024.

🎯 Investment Thesis

BBFL is a BUY due to its strong financial performance, strategic initiatives, and commitment to sustainability. The company’s impressive growth in revenue and EPS, along with its investments in automation and sustainability, make it an attractive investment. With focus on sustainability, they can improve margins due to tax incentives, and higher consumer demand.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

announcements BBFL Signal: BUY

📈 BBFL: BUY Signal (8/10) – Corporate Briefing Session of Big Bird Foods Limited REVOKED

⚡ Flash Summary

Signal: BUY 📈

Strength: 8/10

Sentiment: POSITIVE

Time Horizon: MEDIUM_TERM

📌 Key Takeaways

📈 Turnover increased by 58% from Rs. 7.21 Bn (2024) to Rs. 11.36 Bn (2025).
💰 EPS increased by 39% from PKR 2.80 (2024) to PKR 3.90 (2025).
🌱 The company is committed to sustainability with a 3 MW solar power project to offset ~40% of energy needs, saving an estimated PKR 600 million.
🌳 Approximately 17,000 plants have been cultivated on 20 acres of vacant land to reduce the carbon footprint.
⚙️ Continued investment in modern food-processing automation to improve efficiency and consistency.
🌍 Strengthening presence in the Middle East to establish a global halal food footprint.
🤝 Enhanced employee welfare, training, and performance-development programs.
✔️ Optimization of production capacities and resources for improved margins.
🔒 Strengthening compliance, code of conduct, and ESG alignment for stakeholder confidence.
⭐ Vision to position Big Bird Foods as a leading international halal brand, known for quality, innovation, and sustainability.
🏢 Geographical location: 2-A, Ahmad Block, New Garden Town Lahore & 63 Km Multan Road, Lahore.
🚚 Sales and Distribution Network across all major cities of Pakistan.
📅 Incorporated on Sep 21, 2011, converted to public limited company on June 01, 2023, and listed on Pakistan Stock Exchange on Aug 05, 2024.

🎯 Investment Thesis

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 27, 2025

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