Daily Brief TMT/Internet: 17LIVE Group, Weimob Inc., Taiwan Semiconductor (TSMC) – ADR, Telefonica SA, Zee Entertainment Enterprises, Wistron Corp, Vishay Intertechnology, Sanmina Corp, Fastly Inc and more

17LIVE is a leading pure-play live streaming platform in Asia with key markets in Japan and Taiwan. Its business lines include Liver live streaming, V-Liver live streaming and other businesses such as in-app games and live commerce. 17LIVE is accessible globally and has fostered a diverse live streaming ecosystem with a loyal and engaged user community, as well as a deep pool of live streamers.

The Smartkarma team spoke to 17Live’s Chief Executive Officer and Executive Director, Jiang Honghui, in an exclusive corporate webinar. Honghui sheds light on the company’s impressive journey and future growth outlook within the vibrant live streaming space.

You can view the webinar via the link below. 

• Mainland China investors continued to increase their purchases of Hong Kong shares through the southbound connect platform after Trump’s win. Mainland investors bought a record HK$800B of HK shares in 2024.
• Weimob Inc. (2013 HK) announced it is connecting its Weimob mini-programs to Tencent’s (700 HK) WeChat mini-shop. This move further integrates the SaaS company into Tencent’s ecosystem.
• Wuxi Biologics (2269 HK) announced a license agreement with US-based Aadi Bioscience (AADI US).  Also, Wuxi was not included in the Senate version of the BioSecure legislation improving investor sentiment.

• Leaked Mediatek Chip Specs? — Talk of a “Qualcomm Killer”
• Hon Hai in the New York Times — Why Foxconn is Investing in Texas & Thailand
• TSMC’s Arizona 4nm Production On Track to Start 2H25E — Still Expected to Be 30% Higher Cost vs. Taiwan and That’s Okay

• The Spanish government extended the anti-takeover shield to December 31, 2026, maintaining oversight of foreign direct investments in critical sectors like energy, defense, and technology to safeguard national interests.
• Investor concerns include regulatory uncertainty, lack of clear criteria, and expanded obligations under the 2023 Foreign Investment Law, deterring foreign investments and delaying significant projects.
• Balancing security and openness preserves free capital movement benefits, addressing vulnerabilities while avoiding protectionism that could harm competitiveness and strain relationships with foreign partners.

• NFRA imposed a Rs. 2 crore penalty on Deloitte and fined two retired partners for audit lapses in Zee Entertainment Enterprises (Z IN)‘s Rs. 200 crore FD mismanagement involving RPTs.
• This case exposes serious flaws in audit practices, corporate governance, and related-party transaction scrutiny, emphasizing the rising importance of professional skepticism in financial audits.
• Audit reports aren’t infallible; investors must independently assess corporate governance and scrutinize financial assumptions, especially in listed companies with complex transactions.

• GB200 NVL shipments expected to increase as KYEC boosts capital expenditure, impacting notebook shipments in November 2024.
• Taiwan wafer foundry industry developments in 4Q 2024 to be discussed at TSMC investor meeting, focusing on company outlook and new US tariff policies.
• South Korea’s acceleration of Yongin semiconductor complex aims to establish global chip leadership, attracting key industry players amidst global semiconductor shifts and US-China chip sector investigation; Taiwan targets AI growth with SEMI’s Indian Semiconductor Academy plan.

• Vishay Intertechnology’s third quarter 2024 results reflect a delicate balancing act within a challenging macroeconomic environment.
• On one hand, the company succeeded in maintaining stable revenue at $735.4 million, amid a backdrop of slowing industrial demand and ongoing inventory destocking.
• This revenue stability highlights a cautiously optimistic demand trend across key growth segments, including smart grid infrastructure, military, high-voltage DC applications, and increasingly, AI-focused server technologies.

• Sanmina Corporation recently presented its financial performance for the fourth quarter and fiscal year 2024.
• The company exhibited a commendable year-end financial performance, with revenue reaching $2.02 billion, surpassing their forecast of $1.9 billion to $2.0 billion, marking a sequential increase of 9.6%.
• Despite facing a challenging fiscal year largely characterized by inventory adjustment with clients, Sanmina achieved non-GAAP earnings per share (EPS) of $1.43, exceeding expectations.

• The data in this insight is collated from the “shareholding disclosure” link on the HKEx website.
• Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
• The key stocks mentioned in this regular insight include: Weimob Inc. (2013 HK), Midea Real Estate Holding (3990 HK), and Pharmaron Beijing (3759 HK).

• Fastly, Inc., a provider of cloud computing services, presented its financial results for the third quarter of 2024, reporting revenue growth and cost management successes amid challenges related to some of its largest customers.
• The company’s revenue for Q3 was $137.2 million, exceeding the high end of its guidance range.
• This growth was underpinned by improvements among its large media clients and gains from outside its top 10 customers.