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>Samsung plans to acquire advanced lithography tools from ASML to strengthen its market position against TSMC.</li><li>Telecom companies in Taiwan reported record revenues in September, largely due to increased iPhone 17 sales.</li><li>China's tightening control over critical minerals raises concerns for the electronics supply chain and manufacturing.</li></ul>

Samsung plans to acquire advanced lithography tools from ASML to strengthen its market position against TSMC.Telecom companies in Taiwan reported record revenues in September, largely due to increased iPhone 17 sales.China's tightening control over critical minerals raises concerns for the electronics supply chain and manufacturing.

Tech Supply Chain Tracker (17-Oct-2025): Samsung to use ASML's lithography tools against

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Samsung Electronics Pref Shares / Event-Driven

<ul>
<li>Kim Yong-beom proposed cutting eligibility to 25%+ payout firms and hinted the Presidential Office may slash the dividend tax ceiling to 25%, potentially the boldest move yet.</li>
<li>Short-Term spotlight: large-cap 25–40% payout stocks, led by Samsung Elec and Hyundai Motor. Kim Yong-beom hinted the Presidential Office wants them included to drive dividend growth.</li>
<li>Big-Cap 25–40% payout stocks, especially Samsung Elec and Hyundai Motor, could see heavy flows, with their preferred shares poised to outperform in the near term.</li>
</ul>


Kim Yong-beom proposed cutting eligibility to 25%+ payout firms and hinted the Presidential Office may slash the dividend tax ceiling to 25%, potentially the boldest move yet.
Short-Term spotlight: large-cap 25–40% payout stocks, led by Samsung Elec and Hyundai Motor. Kim Yong-beom hinted the Presidential Office wants them included to drive dividend growth.
Big-Cap 25–40% payout stocks, especially Samsung Elec and Hyundai Motor, could see heavy flows, with their preferred shares poised to outperform in the near term.


Korea’s Div Tax Story Suddenly Hits a Radical Inflection: Targeting Samsung Elec & Hyundai Motor

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>While AI-related demand from hyperscalers and governments is surging, demand for commodity memory remains uncertain, leading to limited capacity expansions.</li><li>In addition, HBM is continuing to eat into commodity wafer capacity.</li><li>Forecasts for 4Q25 memory contract price growth have recently been raised (by up to +13%p for DRAM applications and +9%p for NAND applications). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

While AI-related demand from hyperscalers and governments is surging, demand for commodity memory remains uncertain, leading to limited capacity expansions.In addition, HBM is continuing to eat into commodity wafer capacity.Forecasts for 4Q25 memory contract price growth have recently been raised (by up to +13%p for DRAM applications and +9%p for NAND applications). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mirae Asset Minutes [2025: Volume 19]Biweekly strategy meeting recap

Technology / Semiconductor / Internet Research

Nicolas Baratte

Equity Bottom-Up

<ul>
<li>Smartphone units increase ~3% YoY, that’s slightly better than 1H26 at ~1.5%, but still low growth.   </li>
<li>Premium replacement demand is solid (Samsung, iPhone 17).  Improvements in Emerging Markets (Xiaomi, Transsion, vivo).   </li>
<li>Mediatek reports on 31 Oct, Qualcomm on 5 Nov.  Their Smartphone business isn’t a driver given tepid growth. New ventures revenue timeline is the question.</li>
</ul>


Smartphone units increase ~3% YoY, that’s slightly better than 1H26 at ~1.5%, but still low growth.   
Premium replacement demand is solid (Samsung, iPhone 17).  Improvements in Emerging Markets (Xiaomi, Transsion, vivo).   
Mediatek reports on 31 Oct, Qualcomm on 5 Nov.  Their Smartphone business isn’t a driver given tepid growth. New ventures revenue timeline is the question.


Smartphone 3Q25: A Little Bit Better, Just a Little

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Tekscend Photomask / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tekscend-photomask-corp" target="_blank" data-smartkarma-citation="entities:45819:1" rel="noopener">Tekscend Photomask (429A JP)</a>, a manufacturer and distributor of semiconductor photomasks, raised around US$900m in its Japan IPO.</li>
<li>TP is a global provider of photomasks and related support services. It has been the leader in the merchant photomask market in terms of sales since 2016.</li>
<li>In our previous note, we looked at its past performance and valuations. In this note, we will talk about the trading dynamics.</li>
</ul>



Tekscend Photomask (429A JP), a manufacturer and distributor of semiconductor photomasks, raised around US$900m in its Japan IPO.
TP is a global provider of photomasks and related support services. It has been the leader in the merchant photomask market in terms of sales since 2016.
In our previous note, we looked at its past performance and valuations. In this note, we will talk about the trading dynamics.


Tekscend Photomask IPO Trading - Priced at the Top, but Still Relatively Cheap

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (005930 KS)

Tech Supply Chain Tracker (17-Oct-2025): Samsung to use ASML's lithography tools against

Samsung plans to acquire ASML's lithography tools to compete with TSMC, while telecoms in Taiwan report record revenues, and Apple seeks tax...

Tech Supply Chain Tracker

Korea’s Div Tax Story Suddenly Hits a Radical Inflection: Targeting Samsung Elec & Hyundai Motor

The Presidential Office’s policy chief just signaled the upcoming dividend tax reform could be far more aggressive than expected, directly...

Sanghyun Park

Mirae Asset Minutes [2025: Volume 19]Biweekly strategy meeting recap

While AI-related demand from hyperscalers and governments is surging, demand for commodity memory remains uncertain, leading to limited capacity...

Mirae Asset Securities

Smartphone 3Q25: A Little Bit Better, Just a Little

Smartphone unit growth remains low at ~3% YoY, with premium replacement demand solid and improvements in Emerging Markets.

Nicolas Baratte

Tekscend Photomask IPO Trading - Priced at the Top, but Still Relatively Cheap

Tekscend Photomask (429A JP), a manufacturer and distributor of semiconductor photomasks, raised around US$900m in its Japan IPO. In this note, we...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tech Supply Chain Tracker (17-Oct-2025): Samsung to use ASML's lithography tools against

Samsung plans to acquire ASML's lithography tools to compete with TSMC, while telecoms in Taiwan report record revenues, and Apple seeks tax...

Tech Supply Chain Tracker

Korea’s Div Tax Story Suddenly Hits a Radical Inflection: Targeting Samsung Elec & Hyundai Motor

The Presidential Office’s policy chief just signaled the upcoming dividend tax reform could be far more aggressive than expected, directly...

Sanghyun Park

Mirae Asset Minutes [2025: Volume 19]Biweekly strategy meeting recap

While AI-related demand from hyperscalers and governments is surging, demand for commodity memory remains uncertain, leading to limited capacity...

Mirae Asset Securities

Smartphone 3Q25: A Little Bit Better, Just a Little

​Smartphone unit growth remains low at ~3% YoY, with premium replacement demand solid and improvements in Emerging Markets.

Nicolas Baratte

Tekscend Photomask IPO Trading - Priced at the Top, but Still Relatively Cheap

Tekscend Photomask (429A JP), a manufacturer and distributor of semiconductor photomasks, raised around US$900m in its Japan IPO. In this note, we...

Sumeet Singh

Smartphone unit growth remains low at ~3% YoY, with premium replacement demand solid and improvements in Emerging Markets.