Industrial and Commercial Bank of China (ICBC, 1398.HK) enters August 2025 with a strong income profile and a volatile, policy‑sensitive share price. Over the last six months the stock climbed from the mid‑HK$4s to a June peak above HK$6 before settling near HK$5.94 as of August 21. Fundamentals remain solid on headline profitability – revenue (ttm) of 657.86B and net income (ttm) of 347.4B translate to robust margins – while quarterly revenue and earnings contracted modestly year over year. A forward dividend yield of 11.30% with a 47.18% payout ratio is a key support for investor demand. The central questions for the next three years: how net interest income holds up against policy rate moves, whether asset quality remains contained amid a slow property recovery, and if dividend discipline can persist through credit cycles.

Suntory Beverage & Food Limited (2587.T) enters August 2025 with resilient margins and a share price that has trailed the market. Trailing‑twelve‑month revenue stands at ¥1.69T, with operating margin of 10.14% and profit margin of 5.23%. Cash generation remains solid (operating cash flow ¥189.14B; levered free cash flow ¥74.56B), supported by a conservative balance sheet (cash ¥145.88B vs debt ¥48.18B; current ratio 1.23). Still, top‑line momentum softened, with quarterly revenue down 1.10% year over year and quarterly earnings down 2.00%. The stock is down 10.95% over 12 months, trades near ¥4,672, and offers a forward dividend yield of 2.56% with a 43.82% payout ratio. With a very low 5‑year beta of 0.01, the name has behaved defensively as management navigates pricing, mix and cost inflation.

Wilmar International (F34.SI) enters the next three years with value‑style metrics and a cyclical backdrop. The stock trades near 2.88, toward the 52‑week range of 2.87–3.47, and is down 6.17% over the past year while the S&P 500 rose 15.22%. On fundamentals, the group generated 69.34B revenue (ttm), 1.19B net income and 3.51B EBITDA, implying a 1.71% net margin and 6.79x EV/EBITDA on a 38.74B enterprise value. Market cap stands at 17.98B, with a trailing P/E of 11.88 and forward P/E of 11.82. Cash of 12.92B offsets part of 29.38B total debt; current ratio is 1.16. Yield‑oriented holders note a forward dividend of 0.14 (4.86% yield; ex‑dividend 8/19/2025). With beta of 0.23 and insider ownership at 70.08%, Wilmar offers defensive characteristics if margins stabilize.

Unilever Indonesia (UNVR.JK) enters the next three years from a position of mixed signals. Trailing twelve‑month revenue stands at 34.3T with net income of 3.06T, translating to an 8.91% profit margin and 14.63% operating margin. Year‑on‑year trends are softer, with quarterly revenue growth at -2.50% and quarterly earnings growth at -9.80%. The share price has been volatile: it touched a 52‑week low of 985 and rebounded toward 1,770 in late July, yet the 52‑week change remains -25.85%; the 50‑day and 200‑day moving averages cluster near 1,585–1,593. Balance sheet and cash‑flow metrics are resilient but tight in places—2T in cash versus 1.94T in debt, a current ratio of 0.50, and 1.38T in levered free cash flow. The forward dividend yield is 5.03% on a 110.00% payout ratio, underscoring a key debate for income investors.