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 Feb 23rd which has an aggregated holding worth USD3,723.6bn.</li>
<li>We estimate that foreign flows to be inflows of USD4,330mln. 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 Mediatek, TSMC, Evergreen Marine, Unimicron Tech, Novatek, Wistron, Faraday Tech, Umc, Global Unichip, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Feb 23rd which has an aggregated holding worth USD3,723.6bn.
We estimate that foreign flows to be inflows of USD4,330mln. 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 Mediatek, TSMC, Evergreen Marine, Unimicron Tech, Novatek, Wistron, Faraday Tech, Umc, Global Unichip, Quanta Computer.


TWSE Foreign Holding Weekly (Feb 23rd): Mediatek, TSMC, Evergreen Marine, Unimicron Tech, Novatek

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>TSMC: +17.3% Premium, High Double Digit Level Persisting Since CNY</li>
<li>UMC: -1.5% Discount, We Believe Spread Biased to Go Positive</li>
<li>ChipMOS: +0.6% Premium, Collapsed from +4.6%. Now Within Typical Range.</li>
</ul>


TSMC: +17.3% Premium, High Double Digit Level Persisting Since CNY
UMC: -1.5% Discount, We Believe Spread Biased to Go Positive
ChipMOS: +0.6% Premium, Collapsed from +4.6%. Now Within Typical Range.


Taiwan Dual-Listings Monitor: TSMC Post-CNY Spread Persisting; Why UMC Discount Could Flip Positive

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Feb 23rd which has an aggregated short interest worth USD66.3bn.</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 Novatek, Faraday Tech, Realtek Semi, Shihlin Elec&amp;Eng, Asmedia Tech, TSMC, Global Unichip, Alchip Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Feb 23rd which has an aggregated short interest worth USD66.3bn.
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 Novatek, Faraday Tech, Realtek Semi, Shihlin Elec&amp;Eng, Asmedia Tech, TSMC, Global Unichip, Alchip Tech.


TWSE Short Interest Weekly (Feb 23rd): Novatek, Faraday Tech, Realtek Semi, Shihlin Elec&Eng, TSMC

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Despite the high-profile announcement of his attendance, his segment was less than 3 minutes long!</li>
<li>Intel's CEO alluded to a partnership with OpenAI and implied there's more to come yet there's been no public announcement of any such partnership. </li>
<li>Microsoft's commitment to use Intel's 18A is a vote of confidence in their foundry offering. Let's see how it plays out.</li>
</ul>


Despite the high-profile announcement of his attendance, his segment was less than 3 minutes long!
Intel's CEO alluded to a partnership with OpenAI and implied there's more to come yet there's been no public announcement of any such partnership. 
Microsoft's commitment to use Intel's 18A is a vote of confidence in their foundry offering. Let's see how it plays out.


Intel Snags Altman To Close Foundry Day Event

<ul>
<li>Key Events: 1) Nvidia Results Coming Today in the U.S. 2) Elan &amp; ChipMOS Tomorrow in Taiwan 3) U.S. PC Maker Results Next Week</li>
<li>Why United Microelectronics Is Becoming a Great Long-Term Acquisition Target for Intel </li>
<li>Novatek a Top Gainer After Reports of Alliance with ARM to Build Neoverse V2 for AI</li>
</ul>


Key Events: 1) Nvidia Results Coming Today in the U.S. 2) Elan &amp; ChipMOS Tomorrow in Taiwan 3) U.S. PC Maker Results Next Week
Why United Microelectronics Is Becoming a Great Long-Term Acquisition Target for Intel 
Novatek a Top Gainer After Reports of Alliance with ARM to Build Neoverse V2 for AI


Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

Taiwan

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

Taiwan Semiconductor (TSMC) - ADR (TSM US)

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Taiwan Semiconductor (TSMC) - ADR (TSM US)

TWSE Foreign Holding Weekly (Feb 23rd): Mediatek, TSMC, Evergreen Marine, Unimicron Tech, Novatek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Mediatek, TSMC, Evergreen Marine, Unimicron...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Post-CNY Spread Persisting; Why UMC Discount Could Flip Positive

TSMC maintaining a high premium, UMC is expected to shift to a positive spread, ChipMOS back within the typical range after premium collapse.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Feb 23rd): Novatek, Faraday Tech, Realtek Semi, Shihlin Elec&Eng, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Novatek, Faraday Tech, Realtek Semi, Shihlin...

Ke Yan, CFA, FRM

Intel Snags Altman To Close Foundry Day Event

Altman's segment lasted less than 3 minutes! Gelsinger implied partnership with OpenAI & hinted at more to come. Microsoft's plan to use Intel's...

William Keating

Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

Key developments: Nvidia results today, Elan & ChipMOS tomorrow, and U.S. PC maker results next week. UMC a potential acquisition for Intel?...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Foreign Holding Weekly (Feb 23rd): Mediatek, TSMC, Evergreen Marine, Unimicron Tech, Novatek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Mediatek, TSMC, Evergreen Marine, Unimicron...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Post-CNY Spread Persisting; Why UMC Discount Could Flip Positive

​TSMC maintaining a high premium, UMC is expected to shift to a positive spread, ChipMOS back within the typical range after premium collapse.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Feb 23rd): Novatek, Faraday Tech, Realtek Semi, Shihlin Elec&Eng, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Novatek, Faraday Tech, Realtek Semi, Shihlin...

Ke Yan, CFA, FRM

Intel Snags Altman To Close Foundry Day Event

Altman's segment lasted less than 3 minutes! Gelsinger implied partnership with OpenAI & hinted at more to come. Microsoft's plan to use Intel's...

William Keating

Taiwan Tech Weekly: AI Plays Weak Ahead of Nvidia Results Today; Intel & UMC; ARM & Novatek

Key developments: Nvidia results today, Elan & ChipMOS tomorrow, and U.S. PC maker results next week. UMC a potential acquisition for Intel?...

Vincent Fernando, CFA

TSMC maintaining a high premium, UMC is expected to shift to a positive spread, ChipMOS back within the typical range after premium collapse.