Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years experience researching capital markets across Asia and the USA.

Managing Director, Zero One

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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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/elite-material-co-ltd" target="_blank" data-smartkarma-citation="entities:10247:1" rel="noopener">Elite Material (2383 TT)</a> is the world's leading maker of high-speed copper clad laminate, the low-loss material inside AI server boards; AI infrastructure is now roughly 75-80% of revenue.</li>
<li>The mix is climbing to higher M8 and M9 grades for <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>'s GB200 and GB300 systems, lifting price and margin; consensus sees revenue near-doubling in 2026.</li>
<li>At about 49 times 2026 earnings versus Taiwan peers ITEQ and TUC at 34 to 37 times, the leader's premium prices execution: M9 timing, pricing, and holding share.</li>
</ul>



Elite Material (2383 TT) is the world's leading maker of high-speed copper clad laminate, the low-loss material inside AI server boards; AI infrastructure is now roughly 75-80% of revenue.
The mix is climbing to higher M8 and M9 grades for NVIDIA Corp (NVDA US)'s GB200 and GB300 systems, lifting price and margin; consensus sees revenue near-doubling in 2026.
At about 49 times 2026 earnings versus Taiwan peers ITEQ and TUC at 34 to 37 times, the leader's premium prices execution: M9 timing, pricing, and holding share.


TechChain Insights Q&A: Taiwan's Elite Material, Global Laminate Leader Behind the AI Server Boom