Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul>
<li>Drug / Analysis: China’s rock bottom drug prices spark quality concerns</li>
<li>PMI /China services growth slows as supply, demand moderate, Caixin PMI shows</li>
<li>Export controls: China has<a href="https://www.caixin.com/2025-02-05/102285069.html" target="_blank" rel="noopener"><strong> restricted exports</strong></a> of five metals used in the semiconductor and defense industries to protect its national security.</li>
</ul>


Drug / Analysis: China’s rock bottom drug prices spark quality concerns
PMI /China services growth slows as supply, demand moderate, Caixin PMI shows
Export controls: China has restricted exports of five metals used in the semiconductor and defense industries to protect its national security.


CX Daily: China’s Rock Bottom Drug Prices Spark Quality Concerns 

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) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Rapidus Corporation -- The Japan-based semiconductor startup has emerged as a key part of the country’s ambition to reclaim a foothold in the advanced semiconductor manufacturing space.</li>
<li>How Rapidus Compares to TSMC -- Rapidus’s challenge is not only in catching up with TSMC’s leading-edge process nodes but also in ensuring manufacturing maturity and cost competitiveness.</li>
<li>Maintain Structural Long rating for TSMC -- Accumulate on market weakness. TSMC is partially insulated from U.S. tariff risks thanks to its position producing the most advanced chips.</li>
</ul>


Rapidus Corporation -- The Japan-based semiconductor startup has emerged as a key part of the country’s ambition to reclaim a foothold in the advanced semiconductor manufacturing space.
How Rapidus Compares to TSMC -- Rapidus’s challenge is not only in catching up with TSMC’s leading-edge process nodes but also in ensuring manufacturing maturity and cost competitiveness.
Maintain Structural Long rating for TSMC -- Accumulate on market weakness. TSMC is partially insulated from U.S. tariff risks thanks to its position producing the most advanced chips.


Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

<ul>
<li>Exports /In Depth: Beijing’s ban on mineral exports to U.S. leaves traders scrambling</li>
<li>DeepSeek /: Tech giants dash to include DeepSeek’s AI into their offerings</li>
<li>Rail /: Expanded Russian customs checks disrupt China-Europe rail logistics</li>
</ul>


Exports /In Depth: Beijing’s ban on mineral exports to U.S. leaves traders scrambling
DeepSeek /: Tech giants dash to include DeepSeek’s AI into their offerings
Rail /: Expanded Russian customs checks disrupt China-Europe rail logistics


CX Daily: Beijing’s Ban on Mineral Exports to U.S. Leaves Traders Scrambling 

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chuoh-pack-industry-co-ltd" target="_blank" data-smartkarma-citation="entities:1360:1" rel="noopener">Chuoh Pack Industry (3952 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/nikkon-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:17346:1" rel="noopener">Nikkon Holdings (9072 JP)</a>’s tender offer at JPY5,034, a 273.2% premium to the last close.</li>
<li>The extraordinary premium resulted from a competitive auction, enabling <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" rel="noopener">Toyota Motor (7203 JP)</a>, the largest shareholder, to sell most of its stake. </li>
<li>The offer is well above the target IFA’s DCF valuation range and more than double the all-time high. Stating the obvious, this is a done deal.   </li>
</ul>



Chuoh Pack Industry (3952 JP) has recommended Nikkon Holdings (9072 JP)’s tender offer at JPY5,034, a 273.2% premium to the last close.
The extraordinary premium resulted from a competitive auction, enabling Toyota Motor (7203 JP), the largest shareholder, to sell most of its stake. 
The offer is well above the target IFA’s DCF valuation range and more than double the all-time high. Stating the obvious, this is a done deal.   


Chuoh Pack Industry (3952 JP): NIKKON (9072 JP) Offer’s 273% Premium Results from an Auction

<ul><li>Solar / In Depth: China’s ‘EV battery capital’ turns to solar In the span of four years</li><li>Davos /: Beijing’s influence could end Ukraine war, Finnish President says</li><li>Canal /: Panama starts audit of China-linked port operator amid Trump takeover threat</li></ul>

Solar / In Depth: China’s ‘EV battery capital’ turns to solar In the span of four yearsDavos /: Beijing’s influence could end Ukraine war, Finnish President saysCanal /: Panama starts audit of China-linked port operator amid Trump takeover threat

CX Daily: China’s ‘EV Battery Capital’ Turns to Solar 

Japan

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

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Toyota Motor (7203 JP)

CX Daily: China’s Rock Bottom Drug Prices Spark Quality Concerns

Drug / Analysis: China’s rock bottom drug prices spark quality concerns In a bid to lower the prices the Chinese state and public pay for...

Caixin Global

Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...

Vincent Fernando, CFA

CX Daily: Beijing’s Ban on Mineral Exports to U.S. Leaves Traders Scrambling

Exports / In Depth: Beijing’s ban on mineral exports to U. S. leaves traders scrambling As China’s trade war with the...

Caixin Global

Chuoh Pack Industry (3952 JP): NIKKON (9072 JP) Offer’s 273% Premium Results from an Auction

The offer is well above the target IFA’s DCF valuation range and more than double the all-time high. Stating the obvious, this is a done deal.

Arun George

CX Daily: China’s ‘EV Battery Capital’ Turns to Solar

Solar / In Depth: China’s ‘EV battery capital’ turns to solar In the span of four years, Yibin went from a prefecture-level city known for coal...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: China’s Rock Bottom Drug Prices Spark Quality Concerns

Drug / Analysis: China’s rock bottom drug prices spark quality concerns In a bid to lower the prices the Chinese state and public pay for...

Caixin Global

Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

​Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...

Vincent Fernando, CFA

CX Daily: Beijing’s Ban on Mineral Exports to U.S. Leaves Traders Scrambling

Exports / In Depth: Beijing’s ban on mineral exports to U. S. leaves traders scrambling As China’s trade war with the...

Caixin Global

Chuoh Pack Industry (3952 JP): NIKKON (9072 JP) Offer’s 273% Premium Results from an Auction

The offer is well above the target IFA’s DCF valuation range and more than double the all-time high. Stating the obvious, this is a done deal.

Arun George

CX Daily: China’s ‘EV Battery Capital’ Turns to Solar

Solar / In Depth: China’s ‘EV battery capital’ turns to solar In the span of four years, Yibin went from a prefecture-level city known for coal...

Caixin Global

Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...