Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

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>PC Maker Shares Under Pressure -- PC makers' share prices fell by mid-to-high single digits during July. However, pure PC exposure outperformed as shown by HPQ's gain during the month.</li>
<li>Latest PC Industry Data is Promising -- Latest IDC data shows that global PC shipments increased 3% YoY in 2Q24, and are up 5% YoY ex-China.</li>
<li>Microsoft &amp; Taiwan PC Maker Earnings Ahead -- Microsoft reports July 30th U.S. time. We expect Taiwan PC makers to report earnings within the first two weeks of August.</li>
</ul>


PC Maker Shares Under Pressure -- PC makers' share prices fell by mid-to-high single digits during July. However, pure PC exposure outperformed as shown by HPQ's gain during the month.
Latest PC Industry Data is Promising -- Latest IDC data shows that global PC shipments increased 3% YoY in 2Q24, and are up 5% YoY ex-China.
Microsoft &amp; Taiwan PC Maker Earnings Ahead -- Microsoft reports July 30th U.S. time. We expect Taiwan PC makers to report earnings within the first two weeks of August.


PC Monitor: MSFT Results Imminent; Look for Copilot Progress; Taiwan PC Makers Show Healthy Growth

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jul 26th which has an aggregated short interest worth USD19.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Auo, Wiwynn, Yageo, Ctbc Financial, Global Unichip, Faraday Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jul 26th which has an aggregated short interest worth USD19.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Auo, Wiwynn, Yageo, Ctbc Financial, Global Unichip, Faraday Tech.


TWSE Short Interest Weekly (Jul 26th): Auo, Wiwynn, Ctbc Financial, Global Unichip, Faraday Tech

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jul 19th which has an aggregated short interest worth USD21.0bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Kinpo Elec, L&amp;K Engineering, Asia Cement, Yageo, Unimicron Tech, Ctbc Financial, Auo.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jul 19th which has an aggregated short interest worth USD21.0bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Kinpo Elec, L&amp;K Engineering, Asia Cement, Yageo, Unimicron Tech, Ctbc Financial, Auo.


TWSE Short Interest Weekly (Jul 19th): Kinpo Elec, L&K Engineering, Asia Cement, Unimicron Tech

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Sino American Silicon Products / Equity Bottom-Up

<ul><li>GlobalWafers secures $400M from CHIPS Act to boost semiconductor production amid global chip shortage.</li><li>Samsung intensifies focus on wearable device sales with new strategies to adapt to declining demand in market.</li><li>Acer targets Indian smartphone market with white-label approach and Qualcomm teams up with Microsoft to innovate PCs using AI technology.</li></ul>

GlobalWafers secures $400M from CHIPS Act to boost semiconductor production amid global chip shortage.Samsung intensifies focus on wearable device sales with new strategies to adapt to declining demand in market.Acer targets Indian smartphone market with white-label approach and Qualcomm teams up with Microsoft to innovate PCs using AI technology.

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

<ul><li>GlobalWafers secures $400M of CHIPS Act funding; boosting semiconductor production capacity and technological advancements.</li><li>Acer targets India's booming smartphone market with a white-label strategy; aiming to capitalize on the growing demand.</li><li>Qualcomm collaborates with Microsoft to revolutionize PCs in the AI era; promising groundbreaking advancements in affordable chip designs.</li></ul>

GlobalWafers secures $400M of CHIPS Act funding; boosting semiconductor production capacity and technological advancements.Acer targets India's booming smartphone market with a white-label strategy; aiming to capitalize on the growing demand.Qualcomm collaborates with Microsoft to revolutionize PCs in the AI era; promising groundbreaking advancements in affordable chip designs.

Tech Supply Chain Tracker (17-Jul-2024): GlobalWafers gets $400M CHIPS Act funding.

Taiwan

Acer Inc. manufactures and distributes semiconductor products, personal computers, computer peripherals, multimedia products, and computer software. The Company also provides maintenance and repair services to customers.  In addition, Acer Inc. operates real estate business. The Company markets its products under the Acer brand name.

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Acer Inc (2353 TT)

PC Monitor: MSFT Results Imminent; Look for Copilot Progress; Taiwan PC Makers Show Healthy Growth

PC makers' shares fell in July, but pure PC exposure like HPQ outperformed. Global PC shipments increased 3% YoY in 2Q24, with Microsoft and...

Vincent Fernando, CFA

TWSE Short Interest Weekly (Jul 26th): Auo, Wiwynn, Ctbc Financial, Global Unichip, Faraday Tech

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Auo, Wiwynn, Yageo, Ctbc Financial, Global...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jul 19th): Kinpo Elec, L&K Engineering, Asia Cement, Unimicron Tech

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Kinpo Elec, L&K Engineering, Asia Cement, Yageo,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

GlobalWafers gets $400M funding, Samsung boosts wearable sales, ASML sees growth with AI and China, Acer targets India, Qualcomm and Microsoft...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (17-Jul-2024): GlobalWafers gets $400M CHIPS Act funding.

GlobalWafers secures $400M from CHIPS Act, Samsung targets wearable sales, ASML sees high demand, Acer eyes India market, Qualcomm/Microsoft...

Tech Supply Chain Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

PC Monitor: MSFT Results Imminent; Look for Copilot Progress; Taiwan PC Makers Show Healthy Growth

​PC makers' shares fell in July, but pure PC exposure like HPQ outperformed. Global PC shipments increased 3% YoY in 2Q24, with Microsoft and...

Vincent Fernando, CFA

TWSE Short Interest Weekly (Jul 26th): Auo, Wiwynn, Ctbc Financial, Global Unichip, Faraday Tech

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Auo, Wiwynn, Yageo, Ctbc Financial, Global...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jul 19th): Kinpo Elec, L&K Engineering, Asia Cement, Unimicron Tech

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Kinpo Elec, L&K Engineering, Asia Cement, Yageo,...

Ke Yan, CFA, FRM

Tech Supply Chain Tracker (18-Jul-2024): GlobalWafers gets $400M CHIPS Act funds.

GlobalWafers gets $400M funding, Samsung boosts wearable sales, ASML sees growth with AI and China, Acer targets India, Qualcomm and Microsoft...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (17-Jul-2024): GlobalWafers gets $400M CHIPS Act funding.

GlobalWafers secures $400M from CHIPS Act, Samsung targets wearable sales, ASML sees high demand, Acer eyes India market, Qualcomm/Microsoft...

Tech Supply Chain Tracker

PC makers' shares fell in July, but pure PC exposure like HPQ outperformed. Global PC shipments increased 3% YoY in 2Q24, with Microsoft and...