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 Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations</li>
<li>MediaTek Poised to Benefit from the ARM and Qualcomm Dispute</li>
<li>Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece</li>
</ul>


TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations
MediaTek Poised to Benefit from the ARM and Qualcomm Dispute
Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece


Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>WeRide, a Guangzhou-based autonomous driving unicorn, priced its IPO at $15.50 per ADS, a low-end of the price range, implying a market cap of ~$4.2B.</li>
<li>WeRide sold ~7.7M ADSs, of which Robert Bosch GmbH has acquired 6.5M ADSs, representing ~84% of the ADSs being offered in this IPO.</li>
<li>In addition, certain investors and existing shareholders purchased ~$321M worth of WeRide Class A shares in the concurrent private placements.</li>
</ul>


WeRide, a Guangzhou-based autonomous driving unicorn, priced its IPO at $15.50 per ADS, a low-end of the price range, implying a market cap of ~$4.2B.
WeRide sold ~7.7M ADSs, of which Robert Bosch GmbH has acquired 6.5M ADSs, representing ~84% of the ADSs being offered in this IPO.
In addition, certain investors and existing shareholders purchased ~$321M worth of WeRide Class A shares in the concurrent private placements.


WeRide Low Float US IPO: Pricing and Nasdaq Debut

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

Thematic (Sector/Industry)

<ul>
<li>Total public EV charging stations (incl. temporary unavailable locations) were 72,280 as of September 30, 2024. Compared to the end of FY23, it is an increase of 11.8%.</li>
<li>Total EVSE charging ports (including the temporary unavailable ports) were 197,133, up nearly 17.1% compared to the end of 2023 and up 1.5% over August 2024.</li>
<li>US considerably lags behind China which had 3.32 million public charging stations at the end of September 2024.</li>
</ul>


Total public EV charging stations (incl. temporary unavailable locations) were 72,280 as of September 30, 2024. Compared to the end of FY23, it is an increase of 11.8%.
Total EVSE charging ports (including the temporary unavailable ports) were 197,133, up nearly 17.1% compared to the end of 2023 and up 1.5% over August 2024.
US considerably lags behind China which had 3.32 million public charging stations at the end of September 2024.


US EV Charging Infrastructure Tracker - Sep 2024

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weride-corp" target="_blank" data-smartkarma-citation="entities:39905:1" rel="noopener">WeRide (WRD US)</a> is looking to raise US$119m in its US IPO.</li>
<li>WeRide provides autonomous driving products and services from L2 to L4 of driving automation.</li>
<li>We had looked at the firm’s past performance in our earlier notes. In this note, we discuss our thoughts on valuation.</li>
</ul>



WeRide (WRD US) is looking to raise US$119m in its US IPO.
WeRide provides autonomous driving products and services from L2 to L4 of driving automation.
We had looked at the firm’s past performance in our earlier notes. In this note, we discuss our thoughts on valuation.


WeRide IPO - Stiff Competition and Bleak Sentiment.  Premium Valuation Doesn’t Help

<ul>
<li>Pony AI, a founder-led global autonomous driving company, filed for an IPO in the United States and may raise up to $300M on the Nasdaq exchange.  </li>
<li>The technology company operates fully driverless robotaxis (L4) in Beijing, Shanghai, Guangzhou and Shenzhen, Mainland China.</li>
<li>Pony AI has raised ~$1.4B in equity financing from top-tier investors, including Toyota Motor, HongShan, IDG Capital, 5Y Capital, ClearVue Partners, and Eight Roads Ventures, among others.</li>
</ul>


Pony AI, a founder-led global autonomous driving company, filed for an IPO in the United States and may raise up to $300M on the Nasdaq exchange.  
The technology company operates fully driverless robotaxis (L4) in Beijing, Shanghai, Guangzhou and Shenzhen, Mainland China.
Pony AI has raised ~$1.4B in equity financing from top-tier investors, including Toyota Motor, HongShan, IDG Capital, 5Y Capital, ClearVue Partners, and Eight Roads Ventures, among others.


Pony AI IPO Preview: Small Scale and Early Stage Development. Is Exponential Growth Ahead?

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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

Tesla (TSLA US)

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

WeRide Low Float US IPO: Pricing and Nasdaq Debut

WeRide has successfully completed concurrent private placements and IPO in the United States. In my insight, I discuss pricing and first-day IPO...

Andrei Zakharov

US EV Charging Infrastructure Tracker - Sep 2024

US public EV charging points at 186,069 in September 2024 lags far behind China's 3.32 million public charging points. The pace of EV charging...

GSBR Research

WeRide IPO - Stiff Competition and Bleak Sentiment. Premium Valuation Doesn’t Help

WeRide has since relaunched its US$119m US IPO, having pulled it two months ago. Bosch cornered US$100m of the deal, leaving

Clarence Chu

Pony AI IPO Preview: Small Scale and Early Stage Development. Is Exponential Growth Ahead?

Toyota-backed Pony AI, another one autonomous driving unicorn, files for an IPO in the United States. In my insight, I discuss the company’s...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

​TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

WeRide Low Float US IPO: Pricing and Nasdaq Debut

WeRide has successfully completed concurrent private placements and IPO in the United States. In my insight, I discuss pricing and first-day IPO...

Andrei Zakharov

US EV Charging Infrastructure Tracker - Sep 2024

​US public EV charging points at 186,069 in September 2024 lags far behind China's 3.32 million public charging points. The pace of EV charging...

GSBR Research

WeRide IPO - Stiff Competition and Bleak Sentiment. Premium Valuation Doesn’t Help

WeRide has since relaunched its US$119m US IPO, having pulled it two months ago. Bosch cornered US$100m of the deal, leaving

Clarence Chu

Pony AI IPO Preview: Small Scale and Early Stage Development. Is Exponential Growth Ahead?

Toyota-backed Pony AI, another one autonomous driving unicorn, files for an IPO in the United States. In my insight, I discuss the company’s...

Andrei Zakharov

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

US public EV charging points at 186,069 in September 2024 lags far behind China's 3.32 million public charging points. The pace of EV charging...