Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>This week will have some major earnings data points released. In Taiwan, UMC, Delta, Mediatek, ASE will report among other local names in our coverage.</li>
<li>Samsung &amp; SK Hynix will report this week, providing major insight into the Memory chip space for companies such as Nanya Technology and Micron.</li>
<li>TSMC &amp; ASML results last week indicate that the cycle could be bottoming in 2Q23E for these leading firms... But are we entering a two-track industry recovery?</li>
</ul>


This week will have some major earnings data points released. In Taiwan, UMC, Delta, Mediatek, ASE will report among other local names in our coverage.
Samsung &amp; SK Hynix will report this week, providing major insight into the Memory chip space for companies such as Nanya Technology and Micron.
TSMC &amp; ASML results last week indicate that the cycle could be bottoming in 2Q23E for these leading firms... But are we entering a two-track industry recovery?


Taiwan Tech Weekly: This Is a Major Earnings Week; Are We Entering a 2-Track Semiconductor Recovery?

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>There's been a major disconnect between performance of the Philly Semiconductor Index and the Taiwan market recently.</li>
<li>Semi optimism has picked up substantially in U.S. markets and institutional favor towards the Taiwan market could improve as a result.</li>
<li>We indentify US$1bn+  market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.</li>
</ul>


There's been a major disconnect between performance of the Philly Semiconductor Index and the Taiwan market recently.
Semi optimism has picked up substantially in U.S. markets and institutional favor towards the Taiwan market could improve as a result.
We indentify US$1bn+  market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.


Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

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

<ul>
<li>TSMC Sets Sights on 3-10% Price Rises for Advanced Nodes</li>
<li>MediaTek’s Leap Into the 2nm Era -- Leading Edge Node Signals Market Leadership Ambitions</li>
<li>Mediatek 3Q25: Good News (ASIC Revenue) But Weak Margins Getting Weaker. Stock Not Attractive. </li>
</ul>


TSMC Sets Sights on 3-10% Price Rises for Advanced Nodes
MediaTek’s Leap Into the 2nm Era -- Leading Edge Node Signals Market Leadership Ambitions
Mediatek 3Q25: Good News (ASIC Revenue) But Weak Margins Getting Weaker. Stock Not Attractive. 


Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

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 short interest of TWSE Stocks as of Aug 22nd. The aggregated short interest was USD25.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn, King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 22nd. The aggregated short interest was USD25.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn, King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn.


TWSE Short Interest Weekly (Aug 22nd): King Yuan Electronics, Alchip Technologies, Hon Hai Precision

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Aug 15th. The aggregated short interest was USD26.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology, Mega Financial, Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 15th. The aggregated short interest was USD26.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology, Mega Financial, Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology.


TWSE Short Interest Weekly (Aug 15th): Taishin Financial, Lite-On Technology, Taiwan Glass Ind

Taiwan

Flexium Interconnect Inc. manufactures and markets flexible printed circuit boards (PCBs).  The Company's products include single-sided and double-sided flexible PCBs.

Price Gauge
52-week Range	0.00 - 0.00
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Flexium Interconnect (6269 TT)

Taiwan Tech Weekly: This Is a Major Earnings Week; Are We Entering a 2-Track Semiconductor Recovery?

TSMC & ASML results last week indicate that the cycle could be bottoming in 2Q23E for these leading firms... But are we entering a two-track...

Vincent Fernando, CFA

Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

We indentify US$1bn+ market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.

Vincent Fernando, CFA

Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Aug 22nd): King Yuan Electronics, Alchip Technologies, Hon Hai Precision

We analyzed TWSE short interest report for the past week and highlighted short interest changes in King Yuan Electronics (2449 TT), Alchip...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 15th): Taishin Financial, Lite-On Technology, Taiwan Glass Ind

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Taishin Financial (2887 TT), Lite-On Technology...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Tech Weekly: This Is a Major Earnings Week; Are We Entering a 2-Track Semiconductor Recovery?

TSMC & ASML results last week indicate that the cycle could be bottoming in 2Q23E for these leading firms... But are we entering a two-track...

Vincent Fernando, CFA

Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

We indentify US$1bn+ market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.

Vincent Fernando, CFA

Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

​TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Aug 22nd): King Yuan Electronics, Alchip Technologies, Hon Hai Precision

We analyzed TWSE short interest report for the past week and highlighted short interest changes in King Yuan Electronics (2449 TT), Alchip...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 15th): Taishin Financial, Lite-On Technology, Taiwan Glass Ind

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Taishin Financial (2887 TT), Lite-On Technology...

Ke Yan, CFA, FRM

TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.