Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

O Ta Precision Industry Co / Equity Bottom-Up

<ul>
<li>O Ta Precision Industry is a company based in Taiwan that mainly makes golf clubs for global golf equipment branded companies including Titleist, PXG, Mizuno, and Honma.</li>
<li>O-Ta Precision's dividend yield averaged 9.2% annually from 2019 to 2022. Its annual dividend payout averaged 68.5% in the same period.</li>
<li>We like the company's strong niche in the golf club OEM/ODM business with excellent list of customers with its its historically high dividend payout ratio and dividend yields. </li>
</ul>


O Ta Precision Industry is a company based in Taiwan that mainly makes golf clubs for global golf equipment branded companies including Titleist, PXG, Mizuno, and Honma.
O-Ta Precision's dividend yield averaged 9.2% annually from 2019 to 2022. Its annual dividend payout averaged 68.5% in the same period.
We like the company's strong niche in the golf club OEM/ODM business with excellent list of customers with its its historically high dividend payout ratio and dividend yields. 


Asian Dividend Gems: O-Ta Precision Industry

Event-Driven

<ul>
<li>In the past several days, one of the biggest news in the global sports industry has been the merger of PGA Tour, DP World Tour, and LIV Golf. </li>
<li>We believe that this merger is likely to have a positive impact on the global golf industry, including on Fila Holdings (081660 KS) and Acushnet Holdings (GOLF US).</li>
<li>If this merger successfully completed this year, there is a good possibility of a pick-up in golf related equipment sales and profits for Acushnet and Fila Holdings starting 2024. </li>
</ul>


In the past several days, one of the biggest news in the global sports industry has been the merger of PGA Tour, DP World Tour, and LIV Golf. 
We believe that this merger is likely to have a positive impact on the global golf industry, including on Fila Holdings (081660 KS) and Acushnet Holdings (GOLF US).
If this merger successfully completed this year, there is a good possibility of a pick-up in golf related equipment sales and profits for Acushnet and Fila Holdings starting 2024. 


Merger of PGA Tour, DP World Tour, & LIV Golf - Impact on Fila Holdings and Acushnet

Equity Capital Markets

Golfzon Commerce / Equity Capital Markets

<ul>
<li>Golfzon Commerce is getting ready to complete its IPO in Korea in October. The total offering amount is from 80.2 billion won to 99.8 billion won. </li>
<li>The expected market cap of the IPO is from 323 billion won to 336 billion won. The book building for the institutional investors starts on 11 October. </li>
<li>Golfzon Commerce operates Golfzon Market (a leading golf shop chain in Korea) and Golping (golf related e-commerce site). </li>
</ul>


Golfzon Commerce is getting ready to complete its IPO in Korea in October. The total offering amount is from 80.2 billion won to 99.8 billion won. 
The expected market cap of the IPO is from 323 billion won to 336 billion won. The book building for the institutional investors starts on 11 October. 
Golfzon Commerce operates Golfzon Market (a leading golf shop chain in Korea) and Golping (golf related e-commerce site). 


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.</li>
<li>As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.</li>
<li>Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.</li>
</ul>


The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.
As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.
Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.


Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

<p>The risk of a correction due to a “second wave” of infections has given way to optimism over increased monetary and fiscal stimulus and a potential COVID-19 steroid treatment. For now we view recent weakness as a countertrend move that helped correct the overbought conditions we noted last week. As long as the S&amp;P 500 is above the 2940-2980 support zone we remain bullish and view this as a buyable pullback. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Technology.</p>

The risk of a correction due to a “second wave” of infections has given way to optimism over increased monetary and fiscal stimulus and a potential COVID-19 steroid treatment. For now we view recent weakness as a countertrend move that helped correct the overbought conditions we noted last week. As long as the S&amp;P 500 is above the 2940-2980 support zone we remain bullish and view this as a buyable pullback. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Technology.

U.S. Equity Strategy: Signs Point To Healthy Pullback Opportunity

United States

Acushnet Holdings Corp. operates as a holding company. The Company, through its subsidiaries, designs, develops, manufactures, and distributes golf products. Acushnet Holdings sells its products primarily to on-course golf pro shops, selected off-course golf specialty and sporting goods stores, and other retailers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Acushnet Holdings (GOLF US)

Asian Dividend Gems: O-Ta Precision Industry

Taiwanese company O-Ta Precision Industry specializes in manufacturing golf clubs for major global brands, with a strong track record of high...

Douglas Kim

Merger of PGA Tour, DP World Tour, & LIV Golf - Impact on Fila Holdings and Acushnet

We believe that the merger of PGA Tour, DP World Tour, and LIV Golf is likely to have a positive impact on the global golf industry, including on...

Douglas Kim

Golfzon Commerce IPO Preview

Golfzon Commerce is getting ready to complete its IPO in Korea in October. The total offering amount is from 80.2 billion won to 99.8 billion won.

Douglas Kim

Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

As long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495, we...

Vermilion Research

U.S. Equity Strategy: Signs Point To Healthy Pullback Opportunity

The risk of a correction due to a “second wave” of infections has given way to optimism over increased monetary and fiscal stimulus and a potential...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Dividend Gems: O-Ta Precision Industry

​Taiwanese company O-Ta Precision Industry specializes in manufacturing golf clubs for major global brands, with a strong track record of high...

Douglas Kim

Merger of PGA Tour, DP World Tour, & LIV Golf - Impact on Fila Holdings and Acushnet

We believe that the merger of PGA Tour, DP World Tour, and LIV Golf is likely to have a positive impact on the global golf industry, including on...

Douglas Kim

Golfzon Commerce IPO Preview

Golfzon Commerce is getting ready to complete its IPO in Korea in October. The total offering amount is from 80.2 billion won to 99.8 billion won.

Douglas Kim

Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

As long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495, we...

Vermilion Research

U.S. Equity Strategy: Signs Point To Healthy Pullback Opportunity

The risk of a correction due to a “second wave” of infections has given way to optimism over increased monetary and fiscal stimulus and a potential...

Vermilion Research

Taiwanese company O-Ta Precision Industry specializes in manufacturing golf clubs for major global brands, with a strong track record of high...