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

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC: +28.3 Premium; Historically Extreme Level, Can Short the ADR Premium</li>
<li>UMC: +3.3% Premium; Historically Extreme Level, Short the ADR Premium </li>
<li>CHT: -0.7% Discount; Near Lower Bound, Consider Going Long the Spread</li>
</ul>


TSMC: +28.3 Premium; Historically Extreme Level, Can Short the ADR Premium
UMC: +3.3% Premium; Historically Extreme Level, Short the ADR Premium 
CHT: -0.7% Discount; Near Lower Bound, Consider Going Long the Spread


Taiwan Dual-Listings Monitor: TSMC & UMC Spreads Higher After Taiwan Market Holiday

<ul>
<li>Micron Earnings Call Analysis: AI Memory Tailwinds Getting Stronger as Servers, Smartphone, PC Demand Converge</li>
<li>MediaTek Sharpens Flagship Push, Aiming for 40% Global Market Share... Also, Exploring U.S. Production Set Up</li>
<li>KYEC (2449.TT): The Recent Upward Momentum in the Share Price Has Been Driven by Strong Fundamentals </li>
</ul>


Micron Earnings Call Analysis: AI Memory Tailwinds Getting Stronger as Servers, Smartphone, PC Demand Converge
MediaTek Sharpens Flagship Push, Aiming for 40% Global Market Share... Also, Exploring U.S. Production Set Up
KYEC (2449.TT): The Recent Upward Momentum in the Share Price Has Been Driven by Strong Fundamentals 


Taiwan Tech Weekly: Mediatek Eyes US Manufacturing, 40% Global Mkt Share; Micron Earnings Take-Aways

Taiwan Tech Focused Senior Analyst

Patrick Liao

King Yuan Electronics Co, Ltd. / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>’s GPUs and AI chips have been tested at <a href="https://www.smartkarma.com/entities/king-yuan-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:6630:1" rel="noopener">King Yuan Electronics Co, Ltd. (2449 TT)</a> facilities for the past three years.  </li>
<li>The recent upward momentum in the share price has been driven by strong fundamentals.</li>
<li>
<a href="https://www.smartkarma.com/entities/ase-technology-holding-co-ltd-407e849c-0357-479b-94a1-a43aee0a32e4" target="_blank" data-smartkarma-citation="entities:739:1" rel="noopener">ASE Technology Holding (ASX US)</a>/SPIL is trying to enter the burn-in testing space, but its equipment still lacks full certification from <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>.  </li>
</ul>



NVIDIA Corp (NVDA US)’s GPUs and AI chips have been tested at King Yuan Electronics Co, Ltd. (2449 TT) facilities for the past three years.  
The recent upward momentum in the share price has been driven by strong fundamentals.

ASE Technology Holding (ASX US)/SPIL is trying to enter the burn-in testing space, but its equipment still lacks full certification from NVIDIA Corp (NVDA US).  


KYEC (2449.TT): The Recent Upward Momentum in the Share Price Has Been Driven by Strong Fundamentals

<ul>
<li>TSMC: +24.4% Premium: Remains at Level to Short the ADR Spread</li>
<li>ASE: 0.0% (Parity); Open Fresh Longs Here or at a Discount</li>
<li>ChipMOS: -1.9% Discount; Near Level to Go Long the Spread</li>
</ul>


TSMC: +24.4% Premium: Remains at Level to Short the ADR Spread
ASE: 0.0% (Parity); Open Fresh Longs Here or at a Discount
ChipMOS: -1.9% Discount; Near Level to Go Long the Spread


Taiwan Dual-Listings Monitor: TSMC Extreme Level; ASE Spread Hits Parity; ChipMOS Near Long Level

ASE Technology Holding   / Equity Bottom-Up

<ul>
<li>Defining themes: Packaging, edge AI, and silicon photonics dominate SEMICON Taiwan 2025</li>
<li>Global heavyweights Applied Materials, Lam, and TEL anchor this year’s industry sponsorship</li>
<li>Taiwan’s next tier -- Zhen Ding, ASE, Advantech, ASPEED, Egis -- showcase critical AI enablers beyond TSMC</li>
</ul>


Defining themes: Packaging, edge AI, and silicon photonics dominate SEMICON Taiwan 2025
Global heavyweights Applied Materials, Lam, and TEL anchor this year’s industry sponsorship
Taiwan’s next tier -- Zhen Ding, ASE, Advantech, ASPEED, Egis -- showcase critical AI enablers beyond TSMC


From AI Packaging to AI Edge: Listed Names to Watch at SEMICON Taiwan 2025 Starting Today

Taiwan

ASE Technology Holding Co., Ltd. offers assembly and testing services. The Company provides outsourced assembly, semiconductor testing, semiconductor packaging, and other related services. ASE Technology Holding operates in Taiwan.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ASE Technology Holding (ASX US)

Taiwan Dual-Listings Monitor: TSMC & UMC Spreads Higher After Taiwan Market Holiday

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Extreme Level; ASE Spread Hits Parity; ChipMOS Near Long Level

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

From AI Packaging to AI Edge: Listed Names to Watch at SEMICON Taiwan 2025 Starting Today

Key themes and major industry sponsors at SEMICON Taiwan, with a focus on six lesser-known Taiwan companies showcasing new AI technology.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Dual-Listings Monitor: TSMC & UMC Spreads Higher After Taiwan Market Holiday

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

Taiwan Tech Weekly: Mediatek Eyes US Manufacturing, 40% Global Mkt Share; Micron Earnings Take-Aways

​Micron sees AI memory demand rising, MediaTek targets 40% market share, KYEC's stock surge driven by strong fundamentals.

Vincent Fernando, CFA

KYEC (2449.TT): The Recent Upward Momentum in the Share Price Has Been Driven by Strong Fundamentals

​NVDA GPUs and AI chips tested at KYEC for 3 years; share price rise driven by strong fundamentals. ASEH/SPIL trying to enter burn-in testing...

Patrick Liao

Taiwan Dual-Listings Monitor: TSMC Extreme Level; ASE Spread Hits Parity; ChipMOS Near Long Level

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

From AI Packaging to AI Edge: Listed Names to Watch at SEMICON Taiwan 2025 Starting Today

​Key themes and major industry sponsors at SEMICON Taiwan, with a focus on six lesser-known Taiwan companies showcasing new AI technology.

Vincent Fernando, CFA

Micron sees AI memory demand rising, MediaTek targets 40% market share, KYEC's stock surge driven by strong fundamentals.

NVDA GPUs and AI chips tested at KYEC for 3 years; share price rise driven by strong fundamentals. ASEH/SPIL trying to enter burn-in testing...

Key themes and major industry sponsors at SEMICON Taiwan, with a focus on six lesser-known Taiwan companies showcasing new AI technology.