Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<ul>
<li>Dell doubles long-term growth outlook to 7–9% revenue and 15%+ EPS CAGR through FY30, led by AI infrastructure.</li>
<li>AI PCs emerge as Dell’s next growth engine; global refresh cycle could finally kickstart long-awaited PC upturn.</li>
<li>Taiwan makers Asus, Acer, Quanta, and Wistron positioned to benefit as AI PC and server demand scales together.</li>
</ul>


Dell doubles long-term growth outlook to 7–9% revenue and 15%+ EPS CAGR through FY30, led by AI infrastructure.
AI PCs emerge as Dell’s next growth engine; global refresh cycle could finally kickstart long-awaited PC upturn.
Taiwan makers Asus, Acer, Quanta, and Wistron positioned to benefit as AI PC and server demand scales together.


PC Monitor: Dell Doubles Multi-Year Forecasts; AI PC Up-Cycle, Art Thou Finally Here?

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of HSI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC, BYD, Baba, Meituan, Longfor.</li>
</ul>


We analysed the earning revision of component stocks of HSI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC, BYD, Baba, Meituan, Longfor.


HSI Index Earning Revision (Sep): BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Thematic (Sector/Industry)

<ul><li>Meta's introduction of an AI-generated video feed raises significant concerns regarding copyright and misinformation risks.</li><li>Apple has decided to halt updates on its Vision Pro headset to focus on developing AI glasses similar to Meta's offerings.</li><li>Western Digital is set to invest $1 billion in Japan, leveraging its established partnerships in the region for growth.</li></ul>

Meta's introduction of an AI-generated video feed raises significant concerns regarding copyright and misinformation risks.Apple has decided to halt updates on its Vision Pro headset to focus on developing AI glasses similar to Meta's offerings.Western Digital is set to invest $1 billion in Japan, leveraging its established partnerships in the region for growth.

Tech Supply Chain Tracker (03-Oct-2025): Meta unveils AI video feed, sparking copyright

<ul>
<li>We analysed the earning revision of component stocks of HS TECH in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD, Horizonrobot, Meituan, Jd, Kuaishou, Bidu, BYD.</li>
</ul>


We analysed the earning revision of component stocks of HS TECH in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD, Horizonrobot, Meituan, Jd, Kuaishou, Bidu, BYD.


HS TECH Index Earning Revision (Sep): Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD

<ul>
<li>We analysed the earning revision of component stocks of HSCEI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart, BOC, Meituan, BYD, Tencent, Li Auto.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart, BOC, Meituan, BYD, Tencent, Li Auto.


HSCEI Index Earning Revision (Sep): Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart

China

Lenovo Group Limited, through its subsidiaries, sells, and manufactures personal computers and handheld devices. The Company also provides Internet services and IT services, and contracting manufacturing business.

Price Gauge
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Lenovo (992 HK)

PC Monitor: Dell Doubles Multi-Year Forecasts; AI PC Up-Cycle, Art Thou Finally Here?

Dell doubles growth forecast through 2030 driven by AI infra, with AI PCs as the next growth engine and potential for a global PC upturn. Taiwan...

Vincent Fernando, CFA

HSI Index Earning Revision (Sep): BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC

We analyzed HSI's consensus for Sep 2025 and highlighted changes of EPS in BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC, BYD,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (03-Oct-2025): Meta unveils AI video feed, sparking copyright

Meta's AI video feed raises copyright and misinformation concerns, while Apple shifts focus to AI glasses, and Western Digital invests $1 billion...

Tech Supply Chain Tracker

HS TECH Index Earning Revision (Sep): Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD

We analyzed HS TECH's consensus for Sep 2025 and highlighted changes of EPS in Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD,...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Sep): Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart

We analyzed HSCEI's consensus for Sep 2025 and highlighted changes of EPS in Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart, BOC,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

PC Monitor: Dell Doubles Multi-Year Forecasts; AI PC Up-Cycle, Art Thou Finally Here?

​Dell doubles growth forecast through 2030 driven by AI infra, with AI PCs as the next growth engine and potential for a global PC upturn. Taiwan...

Vincent Fernando, CFA

HSI Index Earning Revision (Sep): BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC

We analyzed HSI's consensus for Sep 2025 and highlighted changes of EPS in BYD, BOC, ALIBABA, MEITUAN, China Life, LONGFOR, China Life, BOC, BYD,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (03-Oct-2025): Meta unveils AI video feed, sparking copyright

Meta's AI video feed raises copyright and misinformation concerns, while Apple shifts focus to AI glasses, and Western Digital invests $1 billion...

Tech Supply Chain Tracker

HS TECH Index Earning Revision (Sep): Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD

We analyzed HS TECH's consensus for Sep 2025 and highlighted changes of EPS in Kuaishou, HORIZON ROBOTICS, JD.COM, BIDU, MEITUAN, BYD,...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Sep): Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart

We analyzed HSCEI's consensus for Sep 2025 and highlighted changes of EPS in Pop Mart Intl, TENCENT, MEITUAN, BOC, BYD, LI AUTO, Pop Mart, BOC,...

Ke Yan, CFA, FRM

Dell doubles growth forecast through 2030 driven by AI infra, with AI PCs as the next growth engine and potential for a global PC upturn. Taiwan...