Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul>
<li>Tech titans foresee the obsolescence of AI PC by Computex 2024, sparking anticipation for new technological advancements.</li>
<li>Disney and Warner's collaboration in the streaming market introduces fresh competition, shaking up the industry landscape.</li>
<li>ASML's thriving in the Angstrom Era credits its success to relentless innovation and adaptability within the semiconductor sector.</li>
</ul>


Tech titans foresee the obsolescence of AI PC by Computex 2024, sparking anticipation for new technological advancements.
Disney and Warner's collaboration in the streaming market introduces fresh competition, shaking up the industry landscape.
ASML's thriving in the Angstrom Era credits its success to relentless innovation and adaptability within the semiconductor sector.


Tech Supply Chain Tracker (18-May-2024): AI PC term will be obsolete soon, tech titans predict at pre-Computex event.

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>We summarize our gleanings from the conference call with <a href="https://www.smartkarma.com/entities/dream-international-ltd" target="_blank" data-smartkarma-citation="entities:15783:1" rel="noopener">Dream International (1126 HK)</a> to better understand growth opportunities and future expansion plans.</li>
<li>The company is expanding in Indonesia to increase its capacity by 30 million USD ( over 830 million USD). (capacity utilization for FY23:83%).</li>
<li>Trading at 4x FY24e PE, with an 11.4% dividend yield and a 15-year average ROE of 20%, this is a stock worth exploring. </li>
</ul>


We summarize our gleanings from the conference call with Dream International (1126 HK) to better understand growth opportunities and future expansion plans.
The company is expanding in Indonesia to increase its capacity by 30 million USD ( over 830 million USD). (capacity utilization for FY23:83%).
Trading at 4x FY24e PE, with an 11.4% dividend yield and a 15-year average ROE of 20%, this is a stock worth exploring. 


Dream International (1126 HK)  Management Concall: 4x PE,11.4% Div Yield,40% of Mkt Cap in Cash

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kayou" target="_blank" data-smartkarma-citation="entities:40875:1" rel="noopener">Kayou</a> is looking to raise up to US$500m in its upcoming HK IPO.</li>
<li>Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Kayou is looking to raise up to US$500m in its upcoming HK IPO.
Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.
In this note, we talk about the not-so-positive aspects of the deal.


Kayou Pre-IPO - The Negatives - Unexplained 9M23 Slump

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kayou" target="_blank" data-smartkarma-citation="entities:40875:1" rel="noopener">Kayou</a> is looking to raise up to US$500m in its upcoming HK IPO.</li>
<li>Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Kayou is looking to raise up to US$500m in its upcoming HK IPO.
Kayou is a Chinese pan-entertainment product retailer of toys, with trading cards in particular as its core product.
In this note, we talk about the positive aspects of the deal.


Kayou Pre-IPO - The Positives - Strong FY22 Growth

<ul>
<li>We like <a href="https://www.smartkarma.com/entities/dream-international-ltd" target="_blank" data-smartkarma-citation="entities:15783:1" rel="noopener">Dream International (1126 HK)</a>, the plush toy maker listed in HK for its long-term association with Disney and revenue growth profile (12% CAGR over 15 years).</li>
<li>The 15-year ROE has averaged 18%, and the company currently has 40% of the market capitalization (1.3 bn HKD) in net cash on the balance sheet. </li>
<li>Trading at 3.7x FY23 PE, with a 12% dividend yield (and the company's high likelihood of maintaining a payout ratio), this is an idea worth exploring.</li>
</ul>


We like Dream International (1126 HK), the plush toy maker listed in HK for its long-term association with Disney and revenue growth profile (12% CAGR over 15 years).
The 15-year ROE has averaged 18%, and the company currently has 40% of the market capitalization (1.3 bn HKD) in net cash on the balance sheet. 
Trading at 3.7x FY23 PE, with a 12% dividend yield (and the company's high likelihood of maintaining a payout ratio), this is an idea worth exploring.


Dream International (1126 HK): Dream Valuation of 3.7x PE and 12% Div Yield, >40% of Mkt Cap In Cash

United States

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

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The Walt Disney Co (DIS US)

Tech Supply Chain Tracker (18-May-2024): AI PC term will be obsolete soon, tech titans predict at pre-Computex event.

Tech titans foresee AI PCs replacing current technology; Disney and Warner's streaming partnership shakes up the market; ASML's innovation drives...

Tech Supply Chain Tracker

Dream International (1126 HK) Management Concall: 4x PE,11.4% Div Yield,40% of Mkt Cap in Cash

We summarize our gleanings from a concall with the mgmt of Dream International (1126 HK) recently. It trades at mouth watering 3.9x FY23 PE and a...

Sameer Taneja

Kayou Pre-IPO - The Negatives - Unexplained 9M23 Slump

Kayou is looking to raise up to US$500m in its upcoming HK IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Kayou Pre-IPO - The Positives - Strong FY22 Growth

Kayou is looking to raise up to US$500m in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Dream International (1126 HK): Dream Valuation of 3.7x PE and 12% Div Yield, >40% of Mkt Cap In Cash

We like Dream International 1126 HK, the plush toy maker trading at 3.7x FY23 PE and a 12% dividend yield with 43% of the market cap in cash and...

Sameer Taneja

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