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Previously we updated the dashboard at around 9.30am. Going forward the system will be updated between 11am and midday. This is because the files from WBS don't arrive until 8.30am.

Thank you

SK Hynix reported last night Summary and takeaways-all spectacular SK hynix delivered extraordinary results on 28 October 2026, with revenue up 328% year-on-year and an operating margin approaching 80%. The results comfortably exceeded analyst expectations. And one point you may notice. The operating margin is 80% but only 29.46B net income. They wrote off some investments plus took fx losses(weak ccy) to the tune of $24B so their normalised net income is closer to $48B-one quarter! We favour MU over SK for amongst other reasons-Korean IFRS can favour SK hynix’s reported profitability over Micron’s US GAAP through capitalised development costs, inventory write-down reversals and asset impairment reversals, potentially boosting margins without improving underlying economics. [image: 1793182049723-screenshot-2026-10-28-at-10.07.21.png] Demand versus supply — the really important news HBM demand exceeds available supply by more than 2:1. DRAM and HBM capacity effectively sold out through 2029, including contracts currently being negotiated. Supply shortages expected through 2030, despite planned capacity expansions.(burry?) 2027 DRAM demand growth: mid-20%. 2027 NAND demand growth: high teens. 2027 revenue and profit: management expects both to be significantly higher than 2026. Indicator Management outlook Q4 DRAM shipment growth Mid-20% sequentially Q4 NAND shipment growth Mid-single digits Q4 HBM4 To overtake HBM3E in volume and revenue 2027 DRAM demand growth Mid-20% 2027 NAND demand growth High teens Memory supply shortages Expected through 2030 2027 capital expenditure Significant increase Long-term contracts 14 customers, covering over 50% of 2027–28 capacity

Try this [image: 1773073791510-screenshot-2026-03-09-at-16.29.26.png]

Hi As per my email yesterday the CGT reports are generated by the custodian and we are waiting for the API links form the new custodian to be finalised. Once that is done the reports will be back on the portal. In the meantime just drop me a message and I will run a manual report for you Cheers

@n5tew Good morning, to answer your questions, yes there are a handful of lenders that still offer offset mortgages, though they’re relatively niche now. With these, you only pay interest on your mortgage minus what’s in a linked savings account, which can significantly reduce your interest costs if you hold a large savings balance. There are indeed fixed rate products although they will tend to be notably higher than your conventional fixed rate products. If you would like to discuss this in further detail, please let me know, my email is michael.searle@cobens.co.uk, or we can arrange a meeting to dive into specifics.

Thanks Nik