Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Taiwan Tech Weekly: Foxconn US$1bn USA Robotics Push; Samsung Doubles Down on US Fabs; Intel Crisis

Taiwan Dual-Listings Monitor: TSMC ADR Premium Sees Small Breakdown; ASE Discount Long Opportunity

Taiwan Dual-Listings Monitor: TSMC Premium Spike Opportunity; ASE Hard Bounce to Prem from Discount

Himax Advances Optical Chip Solutions for NVIDIA and TSMC; But Fog Lingers Over China Auto Recovery

TechChain Insights: Himax Threatened by China Auto Chip Push? CPO Tech with TSMC Remains Bright Spot

Himax Sees Chinese Automakers Far Ahead in Adopting Touch Displays; CoPackaged Optics Key for AI/HPC

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

Himax Technologies Inc Adr / Equity Bottom-Up

<ul>
<li>
2Q25 beat on margins, in-line on profit; automotive and non-driver ICs resilient despite macro headwinds; guidance points to weaker 3Q25 from seasonal bonus costs and softer demand. </li>
<li>
Automotive, OLED, WiseEye AI, and WLO/CPO remain multi-year growth drivers; CPO mass production targeted for 2026 with early-stage annualized revenue potential above US$100m.</li>
<li>
Shares likely fell on weak near-term outlook, but structural leadership in automotive display ICs, AI sensing, and optical technologies underpins long-term growth runway through 2028.</li>
</ul>



2Q25 beat on margins, in-line on profit; automotive and non-driver ICs resilient despite macro headwinds; guidance points to weaker 3Q25 from seasonal bonus costs and softer demand. 

Automotive, OLED, WiseEye AI, and WLO/CPO remain multi-year growth drivers; CPO mass production targeted for 2026 with early-stage annualized revenue potential above US$100m.

Shares likely fell on weak near-term outlook, but structural leadership in automotive display ICs, AI sensing, and optical technologies underpins long-term growth runway through 2028.


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

Himax (HIMX US) - Share Drop: Near-Term Weakness Offset by Structural Automotive & AI Growth Drivers