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 Dec 29th which has an aggregated holding worth USD730.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,532mln. We tabulate the league table for top changes by value for 1W/4W/1Y.</li>
<li>We highlight foreign changes in TSMC, Umc, and Asia Vital.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 29th which has an aggregated holding worth USD730.2bn.
We estimate that foreign flows to be inflows of USD2,532mln. We tabulate the league table for top changes by value for 1W/4W/1Y.
We highlight foreign changes in TSMC, Umc, and Asia Vital.


TWSE Foreign Holding Weekly (Dec 29th): Foreign Insti Increased Holdings

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>Himax shares have performed relatively well during December but have still significantly underperformed other fabless Media IC names over the last six months.</li>
<li>Comparing results data across all names, Himax has exhibited relative strength in Display IC revenue thanks to its strong position supplying automakers with automotive display technology.</li>
<li>Himax will be speaking at Nomura's CES 2024 event and presenting its new edge AI camera products; This creates potential for positive news flow within two weeks.</li>
</ul>


Himax shares have performed relatively well during December but have still significantly underperformed other fabless Media IC names over the last six months.
Comparing results data across all names, Himax has exhibited relative strength in Display IC revenue thanks to its strong position supplying automakers with automotive display technology.
Himax will be speaking at Nomura's CES 2024 event and presenting its new edge AI camera products; This creates potential for positive news flow within two weeks.


Media IC Monitor: Himax Showing Relative Display Strength Thanks to Auto Exposure; CES Event Ahead

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 22nd which has an aggregated holding worth USD701.2bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be inflows of USD679mln and highlight foreign changes in TSMC, Yang Ming Marine, Quanta Computer, Bora Pharma, Wiwynn, Cheng Shin, Novatek, Walsin Lihwa, Umc.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 22nd which has an aggregated holding worth USD701.2bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be inflows of USD679mln and highlight foreign changes in TSMC, Yang Ming Marine, Quanta Computer, Bora Pharma, Wiwynn, Cheng Shin, Novatek, Walsin Lihwa, Umc.


TWSE Foreign Holding Weekly (Dec 22nd): TSMC, Yang Ming Marine, Quanta Computer, Bora Pharma, Wiwynn

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 15th which has an aggregated holding worth USD701.6bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be inflows of USD2,114mln and highlight foreign changes in TSMC, Largan Precision, Evergreen Marine, Far Eastone Telecom.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 15th which has an aggregated holding worth USD701.6bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be inflows of USD2,114mln and highlight foreign changes in TSMC, Largan Precision, Evergreen Marine, Far Eastone Telecom.


TWSE Foreign Holding Weekly (Dec 15th): TSMC, Largan Precision, Evergreen Marine

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 15th which has an aggregated short interest worth USD15.4bn.</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 Gigabyte Tech, Novatek, Faraday Tech, Quanta Computer, Giant Manufactur, Nanya Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 15th which has an aggregated short interest worth USD15.4bn.
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 Gigabyte Tech, Novatek, Faraday Tech, Quanta Computer, Giant Manufactur, Nanya Tech.


TWSE Short Interest Weekly (Dec 15th): Gigabyte Tech, Novatek, Faraday Tech, Quanta Computer

Taiwan

Novatek Microelectronics Corporation designs, manufactures, and markets integrated circuits (ICs).  The Company's products are used in telecommunication, computer peripherals, and LCD (liquid crystal display) drivers.

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Novatek Microelectronics Corp (3034 TT)

TWSE Foreign Holding Weekly (Dec 29th): Foreign Insti Increased Holdings

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Umc, and Asia Vital.

Ke Yan, CFA, FRM

Media IC Monitor: Himax Showing Relative Display Strength Thanks to Auto Exposure; CES Event Ahead

We analyze reported data from Taiwan Media IC Designers, comparing relative revenue performance of Display, Mobile, Power, and other chip subsegments.

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Dec 22nd): TSMC, Yang Ming Marine, Quanta Computer, Bora Pharma, Wiwynn

We analyzed TWSE foreign holding data for the past week and highlight foreign holding changes in TSMC, Yang Ming Marine, Quanta Computer, Bora...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 15th): TSMC, Largan Precision, Evergreen Marine

We analyzed TWSE foreign holding data for the past week and highlight foreign holding changes in TSMC, Largan Precision, Evergreen Marine, Far...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 15th): Gigabyte Tech, Novatek, Faraday Tech, Quanta Computer

We analyzed TWSE short interest report for the past week and highlight short interest changes in Gigabyte Tech, Novatek, Faraday Tech, Quanta...

Ke Yan, CFA, FRM

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