Taiwan Tech Focused Senior Analyst

Patrick Liao

Being invited, I joined Sellside, i.e. JPMorgan, Nomura and Macquarie, totally around 9-10 years. Before that, I joined International Data Corp (https://www.idc.com/) to be the Asia Semiconductor analyst for nearly 2 years, and being invited to do personal lectures in TSMC, UMC, Samsung and etc. In my working experiences, I also had the chance to join Taiwanese panel company, AUO (2409.TT) and the buyside, Chinalife (2823.TT), totally for over 1 year.
I obtained MS degree from the Tsing-Hua University. Then I worked in the Taiwan Semiconductor companies for around 11 years. I had several US patents during my stay in the Semiconductor industry.

Being worked in the sellside and buyside, I deeply dived in the Greater China Semiconductor industry and directly covered some companies, like TSMC (2330.TT, TSM.US), UMC (2303.TT, UMC.US), Vanguard (5347.TT), ASE (3711.TT, ASX.US), SPIL (merged with ASE and delisted), KYEC ( 2449.TT), JCET (600584.CH), ASMPT (522.HK), GWC (6488.TT), WinSemi (3105.TT), Mediatek (2454.TT), Silergy (6415.TT), Novatek (3034.TT), Guoxin Micro (002049.CH) etc.

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

Fundamental Factors to Consider When Trading ASM PT and ASMI

ASMP (522.HK): 4Q21 Results/ 1Q22 Outlook- It’s a Record Q1 at the Mid-Point of Guidance.

Holdcos: Charts Amongst The Carnage. Part 2. Hong Kong, Taiwan and ROA

Equity Bottom-Up

ASM Pacific Technology / Equity Bottom-Up

<ul>
<li>Revenue of HK$5.27 billion (US$674.8 million), +21.5% YoY and -15.1% QoQ, was at the high end of revenue guidance issued in 1Q22.</li>
<li>Revenue guidance was US$670 million to US$740 million, which was +5.8% YoY and +4.5% QoQ at mid-point in Q2 2022.</li>
<li>Usually, the 1st quarter is the weakest of the year. The booking magnitude might be showing how is the industry customers' confidence now. </li>
</ul>


Revenue of HK$5.27 billion (US$674.8 million), +21.5% YoY and -15.1% QoQ, was at the high end of revenue guidance issued in 1Q22.
Revenue guidance was US$670 million to US$740 million, which was +5.8% YoY and +4.5% QoQ at mid-point in Q2 2022.
Usually, the 1st quarter is the weakest of the year. The booking magnitude might be showing how is the industry customers' confidence now. 


ASMP (522.HK): 1Q22 Results and 2Q22 Forecast- A Warm up in 2022 and It Should Be Another Hike in 3Q