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 May 3rd which has an aggregated holding worth USD3,897.7bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip Tech, King Yuan Elec, Wt, Accton Tech, Powertech.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 3rd which has an aggregated holding worth USD3,897.7bn.
We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip Tech, King Yuan Elec, Wt, Accton Tech, Powertech.


TWSE Foreign Holding Weekly (May 3rd): TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

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

<ul>
<li>In 1Q24, it was reported that the revenue growth was -3.35% QoQ, slightly exceeding our expectation of a 5% QoQ decline.</li>
<li>For 2Q24, revenue is expected to grow, but the increase is projected to be less than 5% QoQ.  </li>
<li>NVIDIA revenue in KYEC is forecasted to reach 15% by the end of 2024F, up from about 2% in 2023, driven by the increasing demand for AI.</li>
</ul>


In 1Q24, it was reported that the revenue growth was -3.35% QoQ, slightly exceeding our expectation of a 5% QoQ decline.
For 2Q24, revenue is expected to grow, but the increase is projected to be less than 5% QoQ.  
NVIDIA revenue in KYEC is forecasted to reach 15% by the end of 2024F, up from about 2% in 2023, driven by the increasing demand for AI.


KYEC (2449.TT): 1Q24F Was a Seasonal Dip, but 2Q24F Should Be Picking up Below 5% QoQ.

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>AI server cooling options include liquid &amp; air solutions to improve efficiency and performance.</li><li>India is set to introduce a new chip incentive package to boost its semiconductor industry.</li><li>Apple's supply chain expansion in Southeast Asia, especially Vietnam, has been significant, while MediaTek aims for 30% market share in China with upcoming flagship SoC.</li></ul>

AI server cooling options include liquid &amp; air solutions to improve efficiency and performance.India is set to introduce a new chip incentive package to boost its semiconductor industry.Apple's supply chain expansion in Southeast Asia, especially Vietnam, has been significant, while MediaTek aims for 30% market share in China with upcoming flagship SoC.

Tech Supply Chain Tracker (30-Apr-2024): AI server cooling: liquid & air solutions

Luxshare Precision Industry / Equity Bottom-Up

<ul><li>Apple diversifies supply chain, focusing on Southeast Asia, led by Vietnam, while also shifting suppliers in India.</li><li>MediaTek plans to boost market presence and R&amp;D in India, targeting 30% market share in China by 2H24 with Dimensity 9400 SoC.</li><li>US probe into China's RISC-V role could impact Samsung's AI chip ambitions, while STMicroelectronics aims for 100% renewable electricity by 2027.</li></ul>

Apple diversifies supply chain, focusing on Southeast Asia, led by Vietnam, while also shifting suppliers in India.MediaTek plans to boost market presence and R&amp;D in India, targeting 30% market share in China by 2H24 with Dimensity 9400 SoC.US probe into China's RISC-V role could impact Samsung's AI chip ambitions, while STMicroelectronics aims for 100% renewable electricity by 2027.

Tech Supply Chain Tracker (29-Apr-2024): Apple expands supply chain in Southeast Asia, led by Vietnam.

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.
We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.


TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

Taiwan

MediaTek Inc. is a fabless semiconductor company for wireless communications and digital multimedia solutions. The company provides SOC system solutions for wireless communications, high-definition TV, optical storage, DVD and Blu-ray products.

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Mediatek Inc (2454 TT)

TWSE Foreign Holding Weekly (May 3rd): TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta...

Ke Yan, CFA, FRM

KYEC (2449.TT): 1Q24F Was a Seasonal Dip, but 2Q24F Should Be Picking up Below 5% QoQ.

1Q24 revenue growth was -3.35% QoQ, slightly exceeding our expectation of a 5% QoQ decline. 2Q24 revenue is projected to be less than 5% QoQ....

Patrick Liao

Tech Supply Chain Tracker (30-Apr-2024): AI server cooling: liquid & air solutions

AI server cooling with liquid & air solutions, India's new chip incentive package, Apple's Southeast Asia supply chain growth, MediaTek aims for...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (29-Apr-2024): Apple expands supply chain in Southeast Asia, led by Vietnam.

Apple diversifies supply chain to Southeast Asia, MediaTek aims for market share growth in China, US probe into China's RISC-V role could impact...

Tech Supply Chain Tracker

TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Evergreen Marine, Eva...

Ke Yan, CFA, FRM

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