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

Will Semiconductor / Equity Capital Markets

<ul>
<li>
<strong>Omnivision (<a href="https://www.smartkarma.com/entities/will-semiconductor-co-ltd-shan" target="_blank" data-smartkarma-citation="entities:28274:1" rel="noopener">Will Semiconductor 603501 CH)</a> </strong> (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing.</li>
<li>OVIC, is the world’s third largest smartphone CIS and the largest automotive CIS provider with a market share of 32.9% based on revenue in 2024, according to Frost &amp; Sullivan</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Omnivision (Will Semiconductor 603501 CH)  (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing.
OVIC, is the world’s third largest smartphone CIS and the largest automotive CIS provider with a market share of 32.9% based on revenue in 2024, according to Frost &amp; Sullivan
In this note, we look at its past performance and other deal dynamics that might impact the listing.


OmniVision Integrated Circuits Group (Will Semicon) A/H Listing - Earnings Have Been Recovering

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish on MSCI ACWI. Discussed in Jan9,2025 report how we viewed the pullback as a buying opportunity and were watching for $116-$117 support to hold on ACWI-US. </li>
<li>$116 support held perfectly, and now both ACWI-US and the S&amp;P 500 are coiling just below all-time highs, likely setting up for major breakouts. ACWI is now breaking out.</li>
<li>DXY and 10-Year Treasury yield are both topping, a crucial risk-on signal for global equities. More and more countries breaking out. Actionable Themes: Technology, Services, Communications, Industrials, Gold Miners, Financials</li>
</ul>


Our outlook remains bullish on MSCI ACWI. Discussed in Jan9,2025 report how we viewed the pullback as a buying opportunity and were watching for $116-$117 support to hold on ACWI-US. 
$116 support held perfectly, and now both ACWI-US and the S&amp;P 500 are coiling just below all-time highs, likely setting up for major breakouts. ACWI is now breaking out.
DXY and 10-Year Treasury yield are both topping, a crucial risk-on signal for global equities. More and more countries breaking out. Actionable Themes: Technology, Services, Communications, Industrials, Gold Miners, Financials


More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

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>Apple Increasing Chip Orders with TSMC -- Expecting iPhone 16 Sales to be Much Stronger Than iPhone 15 Thanks to AI</li>
<li>Google Said to be Shifting to TSMC from Samsung for Next Generation AI Mobile Phone Chips</li>
<li>This June 28th piece appears to be timely -- Memory Monitor: Micron's Shares May Be Falling But Results' Industry Implications Are Positive</li>
</ul>


Apple Increasing Chip Orders with TSMC -- Expecting iPhone 16 Sales to be Much Stronger Than iPhone 15 Thanks to AI
Google Said to be Shifting to TSMC from Samsung for Next Generation AI Mobile Phone Chips
This June 28th piece appears to be timely -- Memory Monitor: Micron's Shares May Be Falling But Results' Industry Implications Are Positive


Taiwan Tech Weekly: Apple Hikes TSMC Orders on Strong IPhone 16 Hopes; Google Shifts AI Chip to TSMC

Taiwan Tech Focused Senior Analyst

Patrick Liao

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

<ul>
<li>The <a href="https://www.smartkarma.com/entities/king-yuan-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:6630:1" rel="noopener">King Yuan Electronics Co, Ltd. (2449 TT)</a> outlook for 3Q24 could see a 5-10% quarter-on-quarter growth at present.  </li>
<li>
<a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>  is currently the second-largest client of KYEC, and its business is rapidly expanding.</li>
<li>
<a href="https://www.smartkarma.com/entities/stmicroelectronics-nv-b981e30b-2a53-4f3d-b1cb-adaac140121c" target="_blank" data-smartkarma-citation="entities:33346:1" rel="noopener">STMicroelectronics NV (STM US)</a> and <a href="https://www.smartkarma.com/entities/will-semiconductor-co-ltd-shan" target="_blank" data-smartkarma-citation="entities:28274:1" rel="noopener">Will Semiconductor Shan (603501 CH)</a> are currently the third and fourth largest clients, respectively.</li>
</ul>


The King Yuan Electronics Co, Ltd. (2449 TT) outlook for 3Q24 could see a 5-10% quarter-on-quarter growth at present.  

NVIDIA Corp (NVDA US)  is currently the second-largest client of KYEC, and its business is rapidly expanding.

STMicroelectronics NV (STM US) and Will Semiconductor Shan (603501 CH) are currently the third and fourth largest clients, respectively.


KYEC (2449.TT): AI Highly Growth Potential may exceed Expectation.

Montage Technology   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/montage-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:28236:1" rel="noopener">Montage Technology (688008 CH)</a> (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.</li>
<li>MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Montage Technology (688008 CH) (MT), a provider of memory interface chips and interconnect chips, aims to raise around US$1bn in its H-share listing.
MT’s product portfolio, mainly comprises memory interface chips and interconnect chips, addresses interconnect bottlenecks while enhancing data rate/bandwidth, reliability, and power efficiency, as per the company.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

China

Will Semiconductor Co.,Ltd. Shanghai manufactures image sensor products and semiconductor products. The Company produces and sells complementary metal oxide semiconductors, protecting devices, power devices, power management integrated circuits, radio frequency devices, microphone sensors, and more. Will Semiconductor Shanghai markets its products worldwide.

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Will Semiconductor (603501 CH)

OmniVision Integrated Circuits Group (Will Semicon) A/H Listing - Earnings Have Been Recovering

Omnivision (Will Semiconductor 603501 CH) (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

More Countries Breaking Out; Bullish Outlook Intact $ACWI $EAFE $EEM. More buys in China; Germany continues to lead Europe higher. Will...

Vermilion Research

Taiwan Tech Weekly: Apple Hikes TSMC Orders on Strong IPhone 16 Hopes; Google Shifts AI Chip to TSMC

Apple and Google are increasing chip orders with TSMC for AI capabilities. Micron's shares inititially fell after reporting results previously,...

Vincent Fernando, CFA

KYEC (2449.TT): AI Highly Growth Potential may exceed Expectation.

KYEC outlook for 3Q24 shows potential 5-10% growth, with NVDA Corp as second-largest client and expanding business. STMicroelectronics and Will...

Patrick Liao

Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

Montage Technology (688008 CH), a provider of memory interface and interconnect chips, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

OmniVision Integrated Circuits Group (Will Semicon) A/H Listing - Earnings Have Been Recovering

Omnivision (Will Semiconductor 603501 CH) (OVIC, 603501 CH), a semiconductor company, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

More Countries Breaking Out; Bullish Outlook Intact; Buys in China, Europe, More; DXY & Yields Top

More Countries Breaking Out; Bullish Outlook Intact $ACWI $EAFE $EEM. More buys in China; Germany continues to lead Europe higher. Will...

Vermilion Research

Taiwan Tech Weekly: Apple Hikes TSMC Orders on Strong IPhone 16 Hopes; Google Shifts AI Chip to TSMC

​Apple and Google are increasing chip orders with TSMC for AI capabilities. Micron's shares inititially fell after reporting results previously,...

Vincent Fernando, CFA

KYEC (2449.TT): AI Highly Growth Potential may exceed Expectation.

KYEC outlook for 3Q24 shows potential 5-10% growth, with NVDA Corp as second-largest client and expanding business. STMicroelectronics and Will...

Patrick Liao

Montage Technology A/H Listing - Fast Growth but Doesn’t Need the Cash, Delisted Once

Montage Technology (688008 CH), a provider of memory interface and interconnect chips, aims to raise around US$1bn in its H-share listing. In this...

Sumeet Singh

Apple and Google are increasing chip orders with TSMC for AI capabilities. Micron's shares inititially fell after reporting results previously,...