Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

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  <li>
<a href="https://smartkarma.com/entities/yulon-nissan-motor-co-ltd">Yulon Nissan Motor</a> (YNM) is facing a severe and prolonged period of financial decline, with multi-year negative compound annual growth rates across revenue, net income, and cash flow. This trend reflects significant operational and market-related challenges.</li>
  <li>The company's investment appeal is currently propped up by a high dividend yield and a strong valuation score based on its price-to-book ratio. However, the sustainability of the dividend is questionable given the sharp decline in payouts and deteriorating financial health.</li>
  <li>Deeply tied to Nissan's global and regional strategy, YNM's future is contingent on the success of Nissan's turnaround plans, new model introductions (especially in the EV and hybrid space), and its ability to regain market share in the highly competitive Taiwanese automotive market.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Yulon Nissan Motor (YNM) is facing a severe and prolonged period of financial decline, with multi-year negative compound annual growth rates across revenue, net income, and cash flow. This trend reflects significant operational and market-related challenges.
  The company's investment appeal is currently propped up by a high dividend yield and a strong valuation score based on its price-to-book ratio. However, the sustainability of the dividend is questionable given the sharp decline in payouts and deteriorating financial health.
  Deeply tied to Nissan's global and regional strategy, YNM's future is contingent on the success of Nissan's turnaround plans, new model introductions (especially in the EV and hybrid space), and its ability to regain market share in the highly competitive Taiwanese automotive market.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Yulon Nissan Motor (2227 TT) - May 2026

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.

Event-Driven

<ul>
<li>One year ago we looked at the arrangement between <a href="https://www.smartkarma.com/entities/nissan-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:72:1" rel="noopener">Nissan (7201 JP)</a> and <a href="https://www.smartkarma.com/entities/renault-sa" target="_blank" data-smartkarma-citation="entities:21536:1" rel="noopener">Renault (RNO FP)</a> regarding their relationship, which left Renault with a 28% Nissan stake to be sold.</li>
<li>Since then, Renault has undertaken one selldown but its recent announcement of Ampere’s listing cancellation once again raises the possibility of a further selldown of Nissan’s stake by Renault.</li>
<li>In this note, we talk about the updates since our previous note and the impact of the Ampere listing delay.</li>
</ul>


One year ago we looked at the arrangement between Nissan (7201 JP) and Renault (RNO FP) regarding their relationship, which left Renault with a 28% Nissan stake to be sold.
Since then, Renault has undertaken one selldown but its recent announcement of Ampere’s listing cancellation once again raises the possibility of a further selldown of Nissan’s stake by Renault.
In this note, we talk about the updates since our previous note and the impact of the Ampere listing delay.


Nissan’s Renault Led Selldown Updates - Lack of Ampere Listing Brings Back the US$4bn Overhang

Asia Pac ECM and Index Rebal, DZT Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 14th which has an aggregated short interest worth USD12.5bn.</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 Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek Semi, Compal Elec, Cathay Financial, Chailease.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 14th which has an aggregated short interest worth USD12.5bn.
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 Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek Semi, Compal Elec, Cathay Financial, Chailease.


TWSE Short Interest Weekly (Apr 14th): Yageo, Taiwan Cement, Mediatek, Wiwynn

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Mar 17th which has an aggregated short interest worth USD11.9bn.</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 Evergreen Marine, Alchip Tech, Global Unichip, Asia Vital, Htc, Chung-Hsin.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Mar 17th which has an aggregated short interest worth USD11.9bn.
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 Evergreen Marine, Alchip Tech, Global Unichip, Asia Vital, Htc, Chung-Hsin.


TWSE Short Interest Weekly (Mar 17th): Evergreen Marine, Alchip Tech, Global Unichip, Asia Vital

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

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<p>The car sales tax holiday has proven to be a critical element that improved car sales during MCO and it has just been extended until June 2021 which means the upward momentum should carry forward to Q1 2021 at least. The postal business, typically a drag to the group, benefited from the MCO through stronger e-commerce activities and online marketplace that contributed positively to the postal business, similar to <a href="https://www.smartkarma.com/entities/singapore-post-ltd" target="_blank" data-smartkarma-citation="entities:150:1" rel="noopener">Singapore Post (SPOST SP)</a> . </p>
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<p>Compared to <a href="https://www.smartkarma.com/entities/umw-holdings-bhd" target="_blank" data-smartkarma-citation="entities:1700:1" rel="noopener">UMW Holdings (UMWH MK)</a> , DRB is trading at a 36.5% PBR discount, at a slight 8% PER premium, and a 26% EV/EBITDA discount.  DRB is trading at 4% PER discount, 89% PBR discount, and 56% EV/EBITDA discount, suggesting that it is relatively undervalued to the peers. Keep <a href="https://www.smartkarma.com/entities/drb-hicom-bhd" target="_blank" data-smartkarma-citation="entities:19627:1" rel="noopener">DRB-Hicom Bhd (DRB MK)</a> in your portfolio or buy if you have not. </p>


The car sales tax holiday has proven to be a critical element that improved car sales during MCO and it has just been extended until June 2021 which means the upward momentum should carry forward to Q1 2021 at least. The postal business, typically a drag to the group, benefited from the MCO through stronger e-commerce activities and online marketplace that contributed positively to the postal business, similar to Singapore Post (SPOST SP) . 

Compared to UMW Holdings (UMWH MK) , DRB is trading at a 36.5% PBR discount, at a slight 8% PER premium, and a 26% EV/EBITDA discount.  DRB is trading at 4% PER discount, 89% PBR discount, and 56% EV/EBITDA discount, suggesting that it is relatively undervalued to the peers. Keep DRB-Hicom Bhd (DRB MK) in your portfolio or buy if you have not. 

DRB HiCom (DRB): Tax Holiday and E-Commerce Beneficiaries

Taiwan

Yulon Nissan Motor Co., Ltd. designs, develops, and markets motor vehicles and parts.  The Company exports its products to the Philippines, China, etc.

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Yulon Nissan Motor (2227 TT)

Primer: Yulon Nissan Motor (2227 TT) - May 2026

Yulon Nissan Motor (YNM) is facing a severe and prolonged period of financial decline, with multi-year negative compound annual growth rates...

αSK

Nissan’s Renault Led Selldown Updates - Lack of Ampere Listing Brings Back the US$4bn Overhang

A year ago we looked at the arrangement between Nissan and Renault regarding their relationship, which left Renault with a 28% Nissan stake to be...

Sumeet Singh

TWSE Short Interest Weekly (Apr 14th): Yageo, Taiwan Cement, Mediatek, Wiwynn

We analyzed TWSE short interest report for the past week and highlight short interest changes in Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Mar 17th): Evergreen Marine, Alchip Tech, Global Unichip, Asia Vital

We analyzed TWSE short interest report for the past week and highlight short interest changes in Evergreen Marine, Alchip Tech, Global Unichip,...

Ke Yan, CFA, FRM

DRB HiCom (DRB): Tax Holiday and E-Commerce Beneficiaries

The car sales tax holiday improved car sales during MCO and it has just been extended until June 2021 The postal business, benefited from the MCO...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)