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

<ul>
<li>NVIDIA’s AI Factory Buildout Signals Multi-Year Demand for Taiwan’s Supply Chain</li>
<li>TSMC’s Growth Outlook De-Risked by NVIDIA's Smooth Transition to GB300</li>
<li>NVIDIA's Networking Segment Surge Expands System-Level Product Integration Opportunity for Taiwan Ecosystem</li>
</ul>


NVIDIA’s AI Factory Buildout Signals Multi-Year Demand for Taiwan’s Supply Chain
TSMC’s Growth Outlook De-Risked by NVIDIA's Smooth Transition to GB300
NVIDIA's Networking Segment Surge Expands System-Level Product Integration Opportunity for Taiwan Ecosystem


NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

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 Nov 14th. The aggregated holding was USD1,348.9bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,286mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Cleanaway, Hon Hai Precision, Delta Electronics, MediaTek, Cleanaway, TSMC, Hon Hai Precision, Delta Electronics, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 14th. The aggregated holding was USD1,348.9bn.
We estimate that foreign flows to be outflows of USD1,286mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Cleanaway, Hon Hai Precision, Delta Electronics, MediaTek, Cleanaway, TSMC, Hon Hai Precision, Delta Electronics, Mediatek.


TWSE Foreign Holding Weekly (Nov 14th): TSMC, Cleanaway, Hon Hai Precision, Delta Electronics

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 7th. The aggregated holding was USD1,377.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,766mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Delta Electronics, MediaTek, Fubon Financial, Nanya Technology, Fubon Financial, TSMC, Delta Electronics, Mediatek, Nanya Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 7th. The aggregated holding was USD1,377.2bn.
We estimate that foreign flows to be outflows of USD2,766mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Delta Electronics, MediaTek, Fubon Financial, Nanya Technology, Fubon Financial, TSMC, Delta Electronics, Mediatek, Nanya Technology.


TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.</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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.
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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.


TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 31st. The aggregated holding was USD1,429.4bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,180mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Delta Electronics, ASE Industrial, E.SUN Financial, Quanta Computer, Ase Industrial, Quanta Computer, TSMC, Delta Electronics, E.Sun Financial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 31st. The aggregated holding was USD1,429.4bn.
We estimate that foreign flows to be outflows of USD1,180mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Delta Electronics, ASE Industrial, E.SUN Financial, Quanta Computer, Ase Industrial, Quanta Computer, TSMC, Delta Electronics, E.Sun Financial.


TWSE Foreign Holding Weekly (Oct 31st): TSMC, Delta Electronics, ASE Industrial, E.SUN Financial

Taiwan

Unimicron Technology Corp. manufactures and markets double-sided and multi-layer printed circuit boards.  The Company also provides integrated circuits (IC) burning and testing services.

Price Gauge
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Unimicron Technology (3037 TT)

NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Nov 14th): TSMC, Cleanaway, Hon Hai Precision, Delta Electronics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Cleanaway (8422 TT), Hon Hai...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT),...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yageo (2327 TT), Macronix Intl (2337 TT), WT...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Oct 31st): TSMC, Delta Electronics, ASE Industrial, E.SUN Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT), ASE...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

​NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Nov 14th): TSMC, Cleanaway, Hon Hai Precision, Delta Electronics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Cleanaway (8422 TT), Hon Hai...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT),...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yageo (2327 TT), Macronix Intl (2337 TT), WT...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Oct 31st): TSMC, Delta Electronics, ASE Industrial, E.SUN Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT), ASE...

Ke Yan, CFA, FRM

NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.