Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>Amid the global markets chaos, there has been a huge truckers strike in South Korea, causing havoc across many industries.</li>
<li>On 14 June, the Post Office Courier Labor Union (POCLU) also warned that it will strike soon.</li>
<li>The labor union strikes by major industry groups in Korea could pose another big headache on the Korean equity markets in 2022. </li>
</ul>


Amid the global markets chaos, there has been a huge truckers strike in South Korea, causing havoc across many industries.
On 14 June, the Post Office Courier Labor Union (POCLU) also warned that it will strike soon.
The labor union strikes by major industry groups in Korea could pose another big headache on the Korean equity markets in 2022. 


Cargo Truckers Strike, Post Office Couriers Strike, & More Strikes Likely in Korea in 2022

Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

Retail Opportunity Investments Corp. / Equity Bottom-Up

<ul><li>Say that we have an industry selling a commodity and we want to figure out how above average returns can be generated.</li><li>Our starting point is almost perfect competition. </li><li>We cannot create a brand, a differentiated product/service, a monopoly, a cartel or cheat.</li></ul>

Say that we have an industry selling a commodity and we want to figure out how above average returns can be generated.Our starting point is almost perfect competition. We cannot create a brand, a differentiated product/service, a monopoly, a cartel or cheat.

Taiwan Tech Focused Senior Analyst

Patrick Liao

ASM Pacific Technology / Equity Bottom-Up

<ul>
<li>On May 20, Hang Seng Tech Index (HSTECH INDEX) took out ASMP (522.HK) and replaced by NIO Inc (9866 HK).</li>
<li>Apparently, the EV has a better future outlook, and NIO is riding on the right wind even it's still lost making.</li>
<li>Meanwhile, we think ASMP's should see another hike in 3Q22, and its revenue was forecasted between US$670 million and US$740 million in 2Q22.</li>
</ul>


On May 20, Hang Seng Tech Index (HSTECH INDEX) took out ASMP (522.HK) and replaced by NIO Inc (9866 HK).
Apparently, the EV has a better future outlook, and NIO is riding on the right wind even it's still lost making.
Meanwhile, we think ASMP's should see another hike in 3Q22, and its revenue was forecasted between US$670 million and US$740 million in 2Q22.


ASMP (522.HK):  Hang Seng Tech Index (HSTECH INDEX) Took Out ASMP with NIO Inc (9866 HK).

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>Both DRAM and NAND flash have trended down in 4Q21 and 1Q22, but both markets are still more than 20% higher than last year</li>
<li>Samsung and Micron both made modest Q/Q share gains in both DRAM and NAND flash while all others experienced modest market share losses</li>
<li>Micron's new focus on profit share is paying off, providing the company a better payback than its competition.</li>
</ul>


Both DRAM and NAND flash have trended down in 4Q21 and 1Q22, but both markets are still more than 20% higher than last year
Samsung and Micron both made modest Q/Q share gains in both DRAM and NAND flash while all others experienced modest market share losses
Micron's new focus on profit share is paying off, providing the company a better payback than its competition.


<ul>
<li>Phison reached to NT$17.1bn, 32%, 14% and NT$10.49 for revenue, GM, NM and the Diluted EPS in 1Q22.</li>
<li>We estimate it could be a slight positive growth in 2022, which could reach NT$18.1bn/32.5% for revenue/GM respectively.</li>
<li>Phison and its competitors shall continuously strive in Flash card and the related business.</li>
</ul>


Phison reached to NT$17.1bn, 32%, 14% and NT$10.49 for revenue, GM, NM and the Diluted EPS in 1Q22.
We estimate it could be a slight positive growth in 2022, which could reach NT$18.1bn/32.5% for revenue/GM respectively.
Phison and its competitors shall continuously strive in Flash card and the related business.


Phison (8299.TT): 2Q22 Could Expect a Slightly Growth QoQ

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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

SK Hynix (000660 KS)

Cargo Truckers Strike, Post Office Couriers Strike, & More Strikes Likely in Korea in 2022

Amid the global markets chaos, there has been a huge truckers strike in South Korea, causing havoc across many industries.

Douglas Kim

Earning excess returns in commodities

Say that we have an industry selling a commodity and we want to figure out how above average returns can be generated. Our starting point is almost...

Turtles all the way down

ASMP (522.HK): Hang Seng Tech Index (HSTECH INDEX) Took Out ASMP with NIO Inc (9866 HK).

The EV has a better future outlook, and NIO is riding on the right wind even it's still lost making. We think ASMP's should see another hike in...

Patrick Liao

Q1 Memory Results Down, But Encouraging

The semiconductor memory business - DRAM and NAND flash - is doing very well, with revenues over 20% above the year-ago quarter, and good...

Jim Handy

Phison (8299.TT): 2Q22 Could Expect a Slightly Growth QoQ

Phison reached to NT$17.1bn, 32%, 14% and NT$10.49 for revenue, GM, NM and the Diluted EPS in 1Q22. We estimate it could reach NT$18.1bn and 32.5%...

Patrick Liao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)