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    Ming Tang

    Research Analyst at BNP Paribas Exane

    Ming Tang is an Equity Analyst at Exane BNP Paribas, focusing on the chemicals sector with coverage that includes global companies such as Croda International. Renowned for in-depth research and sector expertise, Tang provides detailed analysis and investment recommendations on major players in the chemical industry. With an established career at Exane BNP Paribas as a dedicated analyst, his prior professional experience and quantitative performance metrics are not widely publicized. Professional credentials such as FINRA registrations or securities licenses could not be confirmed from currently available public sources.

    Ming Tang's questions to INTERNATIONAL FLAVORS & FRAGRANCES (IFF) leadership

    Ming Tang's questions to INTERNATIONAL FLAVORS & FRAGRANCES (IFF) leadership • Q1 2025

    Question

    Ming Tang inquired about the 2025 outlook, asking which parts of IFF's portfolio could be at risk in a potential recession and whether the company is observing any sequential slowdown or caution from its customers.

    Answer

    CEO Erik Fyrwald responded, noting that while the order book remains consistent with guidance, there is macroeconomic uncertainty. He explained that approximately 80% of IFF's portfolio is in resilient essential products, with the remaining 20% in more discretionary areas like fine fragrances and probiotics. Fyrwald confirmed that, so far, order patterns have remained solid despite broader concerns.

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    Ming Tang's questions to SENSIENT TECHNOLOGIES (SXT) leadership

    Ming Tang's questions to SENSIENT TECHNOLOGIES (SXT) leadership • Q3 2024

    Question

    Ming Tang of BNP Paribas Exane asked about the key drivers behind the impressive new win rate, which was cited as low to mid-teens as a percentage of revenue. She also questioned the potential risk of a slowdown in the personal care market and sought clarification on long-term revenue and EBITDA targets by division.

    Answer

    Paul Manning, Chairman, President and CEO, attributed the strong new wins to three factors: superior sales execution and customer service, a strong product portfolio led by double-digit growth in natural colors, and a strategic focus on local and regional customers in the Flavors group. Regarding personal care, he acknowledged market shifts but expressed confidence in continued performance due to a diverse customer base, including e-commerce and influencer brands. For long-term targets, Manning confirmed mid-single-digit revenue growth is a good average across all groups and identified the Flavors & Extracts group as having the largest opportunity for margin improvement.

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    Ming Tang's questions to NOVOZYMES AS/FI (NVZMY) leadership

    Ming Tang's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q1 2023

    Question

    Ming Tang of BNP Paribas Exane asked for an update on the Advanced Protein solutions facility's progress and customer discussions, and also inquired about the timeline for announcing the management team for the new company post-merger with Chr. Hansen.

    Answer

    CEO Ester Baiget confirmed the advanced protein facility is on schedule and budget for a year-end startup, with ongoing customer discussions to support the DKK 1 billion revenue goal over five years. Regarding the merger, she stated that while the board has been announced and integration work is proceeding diligently for a Q4 2023 or Q1 2024 close, she would not commit to a specific date for announcing the next layer of management.

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