Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Equity Bottom-Up

<ul>
<li>King Slide's 70–80% AI server rail-kit monopoly is real and patent-protected — but Nan Juen's entry and Nvidia's in-house tray roadmap are the first credible threats in its history.</li>
<li>
<strong>No multiple survives reconstruction:</strong> trailing P/E is ~80.6x and EV/EBITDA ~69.8x, both without any credible historical or peer benchmark to justify them.</li>
<li>
<strong>We initiate BEARISH with a 12-month Fair Value of NT$5,700</strong>, derived from a DCF (WACC 10%, terminal growth 2.5%). </li>
</ul>


King Slide's 70–80% AI server rail-kit monopoly is real and patent-protected — but Nan Juen's entry and Nvidia's in-house tray roadmap are the first credible threats in its history.

No multiple survives reconstruction: trailing P/E is ~80.6x and EV/EBITDA ~69.8x, both without any credible historical or peer benchmark to justify them.

We initiate BEARISH with a 12-month Fair Value of NT$5,700, derived from a DCF (WACC 10%, terminal growth 2.5%). 


King Slide Works (2059 TT): A Genuine Monopoly, an Imaginary Price. Take Profit.