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 analyzed the changes in foreign holdings of TWSE Stocks as of Jan 12th which has an aggregated holding worth USD701.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD273mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Asia Vital, Alchip Tech, Wistron, Quanta Computer, Global Unichip, Hon Hai, Delta Elec, Yang Ming Marine.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jan 12th which has an aggregated holding worth USD701.3bn.
We estimate that foreign flows to be inflows of USD273mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Asia Vital, Alchip Tech, Wistron, Quanta Computer, Global Unichip, Hon Hai, Delta Elec, Yang Ming Marine.


TWSE Foreign Holding Weekly (Jan 12th): Asia Vital, Alchip Tech, Wistron, Quanta Computer

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

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Hon Hai released its December revenue figures on January 5th; Revenue came in lower than any other December in recent history.</li>
<li>Hon Hai's MIH EV consortium is showcasing solutions at CES 2024 this week in Las Vegas.  In Taiwan, the Luxgen expects 9,000 customer deliveries for its 'n7' EV by June.</li>
<li>Hon Hai is trading at less than 5x forward 2025E PE; and on a trailing basis one of the lower EV/EBITDA's in history. Latest share drop is a buying opportunity.</li>
</ul>


Hon Hai released its December revenue figures on January 5th; Revenue came in lower than any other December in recent history.
Hon Hai's MIH EV consortium is showcasing solutions at CES 2024 this week in Las Vegas.  In Taiwan, the Luxgen expects 9,000 customer deliveries for its 'n7' EV by June.
Hon Hai is trading at less than 5x forward 2025E PE; and on a trailing basis one of the lower EV/EBITDA's in history. Latest share drop is a buying opportunity.


Apple Partner Hon Hai Reports Weakest December Revenue In Years, But EV Growing; Buying Opportunity

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jan 5th which has an aggregated holding worth USD700.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD504mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Faraday Tech, Asustek Computer, Mediatek, Wistron, TSMC.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jan 5th which has an aggregated holding worth USD700.2bn.
We estimate that foreign flows to be outflows of USD504mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Faraday Tech, Asustek Computer, Mediatek, Wistron, TSMC.


TWSE Foreign Holding Weekly (Jan 5th): Faraday Tech, Asustek Computer, Mediatek, Wistron, TSMC

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 29th which has an aggregated holding worth USD730.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,532mln. We tabulate the league table for top changes by value for 1W/4W/1Y.</li>
<li>We highlight foreign changes in TSMC, Umc, and Asia Vital.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 29th which has an aggregated holding worth USD730.2bn.
We estimate that foreign flows to be inflows of USD2,532mln. We tabulate the league table for top changes by value for 1W/4W/1Y.
We highlight foreign changes in TSMC, Umc, and Asia Vital.


TWSE Foreign Holding Weekly (Dec 29th): Foreign Insti Increased Holdings

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Nvidia Vs. Taiwan Short Basket: Hedge Working; CES 2024 Likely Positive for Nvidia Vs. Basket</li>
<li>Silicon Motion: Next Wave of the Memory Recovery; High-End NAND Prices More Than Doubled From Lows</li>
<li>AI PC Reality Check: PC Upgrade Cycle Ahead, But Worth a 50% 1M Acer Rally? Long Dell Vs. Short Acer</li>
</ul>


Nvidia Vs. Taiwan Short Basket: Hedge Working; CES 2024 Likely Positive for Nvidia Vs. Basket
Silicon Motion: Next Wave of the Memory Recovery; High-End NAND Prices More Than Doubled From Lows
AI PC Reality Check: PC Upgrade Cycle Ahead, But Worth a 50% 1M Acer Rally? Long Dell Vs. Short Acer


Taiwan Tech Weekly: Stocks At Highs & Looking for Laggards? CES 2024 to Showcase Edge AI

Taiwan

Hon Hai Precision Industry Co., Ltd. provides electronic manufacturing services for computers, communications, and consumer electronic products.  The Company's business operations include desktop and notebook PC assembly, connector production, cable assembly, PCB assembly, handset manufacturing, networking equipment, and other consumer electronic devices manufacturing.

Price Gauge
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Hon Hai Precision Industry (2317 TT)

TWSE Foreign Holding Weekly (Jan 12th): Asia Vital, Alchip Tech, Wistron, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Asia Vital, Alchip Tech, Wistron, Quanta...

Ke Yan, CFA, FRM

Apple Partner Hon Hai Reports Weakest December Revenue In Years, But EV Growing; Buying Opportunity

Hon Hai's December revenue was the lowest in recent history, but latest developments show its EV business expansion progressing and the stock is...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Jan 5th): Faraday Tech, Asustek Computer, Mediatek, Wistron, TSMC

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Faraday Tech, Asustek Computer, Mediatek,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 29th): Foreign Insti Increased Holdings

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Umc, and Asia Vital.

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Stocks At Highs & Looking for Laggards? CES 2024 to Showcase Edge AI

Summary: Nvidia is expected to perform well at CES 2024, while Silicon Motion predicts a memory recovery and increased NAND prices. The PC upgrade...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Foreign Holding Weekly (Jan 12th): Asia Vital, Alchip Tech, Wistron, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Asia Vital, Alchip Tech, Wistron, Quanta...

Ke Yan, CFA, FRM

Apple Partner Hon Hai Reports Weakest December Revenue In Years, But EV Growing; Buying Opportunity

​Hon Hai's December revenue was the lowest in recent history, but latest developments show its EV business expansion progressing and the stock is...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Jan 5th): Faraday Tech, Asustek Computer, Mediatek, Wistron, TSMC

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Faraday Tech, Asustek Computer, Mediatek,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 29th): Foreign Insti Increased Holdings

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Umc, and Asia Vital.

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Stocks At Highs & Looking for Laggards? CES 2024 to Showcase Edge AI

​Summary: Nvidia is expected to perform well at CES 2024, while Silicon Motion predicts a memory recovery and increased NAND prices. The PC upgrade...

Vincent Fernando, CFA

Hon Hai's December revenue was the lowest in recent history, but latest developments show its EV business expansion progressing and the stock is...

Summary: Nvidia is expected to perform well at CES 2024, while Silicon Motion predicts a memory recovery and increased NAND prices. The PC upgrade...