In today’s briefing:
- Taiwan Tech Weekly: Global Optimism for Semi Stocks, Taiwan’s New Subsidies, TSMC CEO Buying Stock
- Oasis Corp IPO Preview
- 2023 High Conviction Shift: Margins Begin to Recover as Unprofitable Projects Coming to an End
- Imajin Reportedly Raises Seed Funding Round
- Parenting Platform Supermom Closes US$6M Series A Led by Qualgro
Taiwan Tech Weekly: Global Optimism for Semi Stocks, Taiwan’s New Subsidies, TSMC CEO Buying Stock
- Taiwan’s government has passed new major tax subsidies to support semiconductor firms’ R&D and capex spending.
- TSMC results will be out this afternoon; Interestingly, TSMC’s CEO has been buying shares during October, November, and December.
- Hon Hai has begun iPhone 15 trial production, and Zhengzhou is back to 100%.
Oasis Corp IPO Preview
- Oasis Corp is getting ready to complete its IPO on KOSDAQ in February 2023. Oasis Corp is a leading online/offline provider of organic foods and other groceries in Korea.
- IPO price range is from 30,500 won to 39,500 won, with a total offering amount of 160 billion won to 207 billion won.
- Other than Coupang, the other three companies (bankers’ valuation) may not be appropriate comps, mainly because they operate in different markets around the world and are much bigger in size.
2023 High Conviction Shift: Margins Begin to Recover as Unprofitable Projects Coming to an End
- Shift Inc (3697 JP) reported 1QFY08/2023 results today. Revenue increased 35.6% YoY to JPY19.3bn (vs consensus JPY19.8bn) while OP decreased 7.4% YoY to JPY1.8bn (vs consensus JPY2.2bn).
- Both GPM and OPM have dropped compared to 1QFY08/2022 but shows significant improvement over last two quarters suggesting unprofitable development projects are coming to an end.
- Though 1Q earnings fell a touch below consensus, we would not be too concerned as the company’s new services and being the market leader should drive long-term growth.
Imajin Reportedly Raises Seed Funding Round
Init-6, East Ventures, 500 Southeast Asia, and a number of investors participated in this funding round for Imajin
- Founded by Chendy Jaya, Imajin is a platform that connected local manufacturers with potential customers.
- By July 2022, the startup has secured more than 400 local factory partners and 80 customers, including Japanese companies operating in Indonesia
Parenting Platform Supermom Closes US$6M Series A Led by Qualgro
- Singapore-based parenting network Supermom has closed its “oversubscribed” SG$8 (US$6) million Series A fundraising round, led by Qualgro, with participation from AC Ventures
- The startup will use the money to enhance its data and product capabilities and accelerate regional expansion
Supermom provides data and consumer insights for over 200 consumer brands, including mother & child, education, FMCG, fashion, and beauty
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