Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>UK car market sees resurgence as electric vehicles gain popularity at LCV Show, driving up sales and interest in sustainable options.</li><li>SAIC Motor struggles with falling profits and tariffs on electric vehicles, putting financial strain on the company's operations.</li><li>IEDC fosters stronger economic ties between Taiwan and the region through a new office opening, promoting business opportunities and enhancing cooperation.</li></ul>

UK car market sees resurgence as electric vehicles gain popularity at LCV Show, driving up sales and interest in sustainable options.SAIC Motor struggles with falling profits and tariffs on electric vehicles, putting financial strain on the company's operations.IEDC fosters stronger economic ties between Taiwan and the region through a new office opening, promoting business opportunities and enhancing cooperation.

Tech Supply Chain Tracker (05-Sep-2024): UK car market rebounds, EV growth shines at LCV Show.

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 KRX stocks as of Aug 30th which has an aggregated short interest worth USD5.1bn.</li>
<li>We tabulate league table 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 Samsung Electronics, Hlb, Yuhan.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 30th which has an aggregated short interest worth USD5.1bn.
We tabulate league table 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 Samsung Electronics, Hlb, Yuhan.


KRX Short Interest Weekly (Aug 30th): Samsung Electronics, Hlb, Yuhan

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>In this insight, we discuss the potential sale of SK Specialty by SK Inc (034730 KS) which owns 100% stake in the company. </li>
<li>If SK Inc could sell SK Specialty at about 3 trillion won to 4 trillion won, this could reduce significantly reduce debt burden of SK Inc.</li>
<li>Our base case NAV value per share for SK Inc is 203,288 won per share, representing 38% upside from current levels.</li>
</ul>


In this insight, we discuss the potential sale of SK Specialty by SK Inc (034730 KS) which owns 100% stake in the company. 
If SK Inc could sell SK Specialty at about 3 trillion won to 4 trillion won, this could reduce significantly reduce debt burden of SK Inc.
Our base case NAV value per share for SK Inc is 203,288 won per share, representing 38% upside from current levels.


Potential Sale of SK Specialty and Deleveraging of the SK Group - Impact on SK Inc and NAV Analysis

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<p>Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.</p><ul><li><a href='#lucror-entity-26076'>China Vanke </a></li><li><a href='#lucror-entity-4153'>Shui On Land</a></li><li><a href='#lucror-entity-16955'>SK Hynix</a></li><li><a href='#lucror-entity-384'>Yankuang Energy Group</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.China Vanke Shui On LandSK HynixYankuang Energy Group

Morning Views Asia: China Vanke  , Shui On Land, SK Hynix, Yankuang Energy Group

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.

<ul>
<li>Hynix's potential 15% stake in Kioxia doesn't violate the 20% rule because KFTC's mandatory stake rule doesn't apply to foreign investments.</li>
<li>SK Group may transfer Hynix's 15% Kioxia stake to SK Square by splitting Hynix and merging its investment arm with SK Square for future AI investments.</li>
<li>SK Square may attract more attention than Hynix short-term, as Kioxia's stake via Hynix could boost market expectations for value transfer to SK Square.</li>
</ul>


Hynix's potential 15% stake in Kioxia doesn't violate the 20% rule because KFTC's mandatory stake rule doesn't apply to foreign investments.
SK Group may transfer Hynix's 15% Kioxia stake to SK Square by splitting Hynix and merging its investment arm with SK Square for future AI investments.
SK Square may attract more attention than Hynix short-term, as Kioxia's stake via Hynix could boost market expectations for value transfer to SK Square.


Understanding Potential Issues Within SK Group from Hynix's Kioxia CB Conversion

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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SK Hynix (000660 KS)

Tech Supply Chain Tracker (05-Sep-2024): UK car market rebounds, EV growth shines at LCV Show.

UK car market rebounds with focus on electric vehicles, SAIC Motor struggles with declining profits, Google and Meta prepare for misinformation...

Tech Supply Chain Tracker

KRX Short Interest Weekly (Aug 30th): Samsung Electronics, Hlb, Yuhan

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Hlb, Yuhan.

Ke Yan, CFA, FRM

Potential Sale of SK Specialty and Deleveraging of the SK Group - Impact on SK Inc and NAV Analysis

In this insight, we discuss the potential sale of SK Specialty by SK Inc (034730 KS) which owns 100% stake in the company. Our NAV value of SK Inc...

Douglas Kim

Morning Views Asia: China Vanke , Shui On Land, SK Hynix, Yankuang Energy Group

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Understanding Potential Issues Within SK Group from Hynix's Kioxia CB Conversion

This post dives into the potential issues about how Kioxia's IPO could affect Hynix and the whole SK Group that the market needs to clear up.

Sanghyun Park

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