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 foreign holdings of TWSE Stocks as of Apr 5th which has an aggregated holding worth USD3,983.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD232mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in TSMC, Wiwynn, Bora Pharma, Wistron, Faraday Tech, Lite-On Tech, Alchip Tech, Hon Hai, Asia Vital, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 5th which has an aggregated holding worth USD3,983.2bn.
We estimate that foreign flows to be outflows of USD232mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in TSMC, Wiwynn, Bora Pharma, Wistron, Faraday Tech, Lite-On Tech, Alchip Tech, Hon Hai, Asia Vital, Quanta Computer.


TWSE Foreign Holding Weekly (Apr 5th): TSMC, Wiwynn, Bora Pharma, Wistron, Faraday Tech, Lite-On

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 29th which has an aggregated holding worth USD3,994.1bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,801mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On Tech, Mediatek, Umc, Chicony Elec, Inventec.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 29th which has an aggregated holding worth USD3,994.1bn.
We estimate that foreign flows to be outflows of USD5,801mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On Tech, Mediatek, Umc, Chicony Elec, Inventec.


TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

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

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Quanta surged with major server wins from Meta, Alphabet, and Amazon. Nanya Tech results are two weeks ahead and Intel will host a webinar this week about its Foundry business.</li>
<li>Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions </li>
<li>Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here? </li>
</ul>


Quanta surged with major server wins from Meta, Alphabet, and Amazon. Nanya Tech results are two weeks ahead and Intel will host a webinar this week about its Foundry business.
Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions 
Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here? 


Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

<ul>
<li>Just a week after Nvidia's GTC conference, Quanta has reportedly secured large orders for new Nvidia Blackwell-based servers from Google, Amazon AWS, and Meta. </li>
<li>Other firms showcasing Nvidia servers at GTC include Wiwynn, Gigabyte, Pegatron, Asus, Hon Hai (Ingrasys), Wistron, Dell, and Super Micro. There could be a higher probability of new order wins.</li>
<li>Stock Focus: Asustek -- Improving outlook as a play on both AI PCs and AI servers.</li>
</ul>


Just a week after Nvidia's GTC conference, Quanta has reportedly secured large orders for new Nvidia Blackwell-based servers from Google, Amazon AWS, and Meta. 
Other firms showcasing Nvidia servers at GTC include Wiwynn, Gigabyte, Pegatron, Asus, Hon Hai (Ingrasys), Wistron, Dell, and Super Micro. There could be a higher probability of new order wins.
Stock Focus: Asustek -- Improving outlook as a play on both AI PCs and AI servers.


Post Nvidia GTC Industry Impact: Large Quanta Server Win Just the Beginning of an Order Wave?

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2024 index rebal event.</li>
<li>I currently see 5 ADDs and 5 DELs but there are several names close to the border and expectations could change before the base date as prices move around.</li>
<li>The estimate for one-way flow in June 2024 is US$1.22bn.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2024 index rebal event.
I currently see 5 ADDs and 5 DELs but there are several names close to the border and expectations could change before the base date as prices move around.
The estimate for one-way flow in June 2024 is US$1.22bn.


Quiddity Leaderboard TDIV Jun 24: 5 Changes; US$1.2bn One-Way

Taiwan

Gigabyte Technology Co., Ltd. manufactures and markets computer motherboards and other peripheral products.

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Gigabyte Technology (2376 TT)

TWSE Foreign Holding Weekly (Apr 5th): TSMC, Wiwynn, Bora Pharma, Wistron, Faraday Tech, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Wiwynn, Bora Pharma, Wistron, Faraday...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...

Vincent Fernando, CFA

Post Nvidia GTC Industry Impact: Large Quanta Server Win Just the Beginning of an Order Wave?

Quanta secures large orders for Nvidia Blackwell-based servers from tech giants post-GTC conference; Asus's outlook is improving for its AI server...

Vincent Fernando, CFA

Quiddity Leaderboard TDIV Jun 24: 5 Changes; US$1.2bn One-Way

The Top 5 Expected Inflow names could outperform the Top 5 Expected outflow names over the next few weeks. The final index changes will be based on...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Foreign Holding Weekly (Apr 5th): TSMC, Wiwynn, Bora Pharma, Wistron, Faraday Tech, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Wiwynn, Bora Pharma, Wistron, Faraday...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

​Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...

Vincent Fernando, CFA

Post Nvidia GTC Industry Impact: Large Quanta Server Win Just the Beginning of an Order Wave?

​Quanta secures large orders for Nvidia Blackwell-based servers from tech giants post-GTC conference; Asus's outlook is improving for its AI server...

Vincent Fernando, CFA

Quiddity Leaderboard TDIV Jun 24: 5 Changes; US$1.2bn One-Way

The Top 5 Expected Inflow names could outperform the Top 5 Expected outflow names over the next few weeks. The final index changes will be based on...

Janaghan Jeyakumar, CFA

Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...

Quanta secures large orders for Nvidia Blackwell-based servers from tech giants post-GTC conference; Asus's outlook is improving for its AI server...