We are initiating coverage on EUDA Health Holdings Limited (EUDA.US). EUDA aims to become a leading next-generation healthcare technology provider in Southeast Asia, offering a comprehensive range of services enhanced by data analytics to deliver high-quality and efficient patient care. Guided by its mission to revolutionize the health and wellness landscape, the company focuses on advancing non-invasive treatments and providing holistic healthcare access through the integration of cutting-edge technologies. EUDA’s comprehensive offerings span medical healthcare, wellness and allied care, as well as community and virtual clinics. As part of its growth strategy, EUDA has pursued key acquisitions, including CK Health, which expands its wellness product portfolio and strengthens its presence in Malaysia, Vietnam, and Indonesia. The recent successful filing of a $100 million shelf registration highlights EUDA’s path toward market expansion and strategic acquisitions. This approach is expected to drive significant revenue growth and bolster its competitive position in the healthcare and wellness markets. Additionally, recent discussion with Guangdong Cell Biotech Co. Ltd. (“Guangdong Cell Biotech”), a prominent player in stem cell therapies and regenerative medicine, to form a joint venture, is expected to enrich EUDA’s healthcare services with innovative treatment options, enhancing the appeal and effectiveness of its digital platform.