Taiwan Tech Focused Senior Analyst

Patrick Liao

Being invited, I joined Sellside, i.e. JPMorgan, Nomura and Macquarie, totally around 9-10 years. Before that, I joined International Data Corp (https://www.idc.com/) to be the Asia Semiconductor analyst for nearly 2 years, and being invited to do personal lectures in TSMC, UMC, Samsung and etc. In my working experiences, I also had the chance to join Taiwanese panel company, AUO (2409.TT) and the buyside, Chinalife (2823.TT), totally for over 1 year.
I obtained MS degree from the Tsing-Hua University. Then I worked in the Taiwan Semiconductor companies for around 11 years. I had several US patents during my stay in the Semiconductor industry.

Being worked in the sellside and buyside, I deeply dived in the Greater China Semiconductor industry and directly covered some companies, like TSMC (2330.TT, TSM.US), UMC (2303.TT, UMC.US), Vanguard (5347.TT), ASE (3711.TT, ASX.US), SPIL (merged with ASE and delisted), KYEC ( 2449.TT), JCET (600584.CH), ASMPT (522.HK), GWC (6488.TT), WinSemi (3105.TT), Mediatek (2454.TT), Silergy (6415.TT), Novatek (3034.TT), Guoxin Micro (002049.CH) etc.

Silergy (6415.TT): Demand of PMIC IC Shall Be Uprising Since 2H26

Silergy (6415.TT): Strong May Revenue Growth of 30.6% YoY.

Silergy (6415.TT): Price Increase Effective July 1st.

Silergy (6415.TT): 4Q25 Flat or Slightly Upside; Early Gen4 Yields Remain Non-Comparable.

Silergy (6415.TT): 2026 Growth Expected to 20% YoY, Returning to Normal Levels.

Silergy (6415.TT): 3Q25 Revenue Flat to Slightly Up QoQ; Annual Growth May Fall Short of 20%+.

Equity Bottom-Up

<ul>
<li>Key growth is driven by the rapid increase in power requirements for AI servers and the ubiquitous demand for battery management systems (BMS) across automotive, energy storage, and robotics.</li>
<li>The company maintains its 20–30% annual growth target, with management expressing increased confidence that achieving over 20% is highly feasible.</li>
<li>That while upstream costs have risen, the company is passing these costs through to customers. Due to tight capacity, customers are generally accepting of price adjustments to ensure supply security.</li>
</ul>


Key growth is driven by the rapid increase in power requirements for AI servers and the ubiquitous demand for battery management systems (BMS) across automotive, energy storage, and robotics.
The company maintains its 20–30% annual growth target, with management expressing increased confidence that achieving over 20% is highly feasible.
That while upstream costs have risen, the company is passing these costs through to customers. Due to tight capacity, customers are generally accepting of price adjustments to ensure supply security.


Silergy (6415.TT): Management Is Confident that Exceeding 20% Is Highly Feasible.

Silergy Corp

Silergy (6415.TT): Management Is Confident that Exceeding 20% Is Highly Feasible.