Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

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Equity Bottom-Up

Delta Electronics Thailand  / Equity Bottom-Up

<ul>
<li>Both Delta Electronics Thailand and its parent Delta Electronics Taiwan reported results; both reports came in below analyst expectations.</li>
<li>Delta Thailand shares have dropped 19% since our recent update. The company also did a 10 for 1 share split in an apparent bid to make the shares look 'cheaper'.</li>
<li>Delta's EV business grew 100% YoY and is becoming a significant driver for the company. The pricing mis-alignment between Delta Thailand and Taiwan has corrected substantially.</li>
</ul>


Both Delta Electronics Thailand and its parent Delta Electronics Taiwan reported results; both reports came in below analyst expectations.
Delta Thailand shares have dropped 19% since our recent update. The company also did a 10 for 1 share split in an apparent bid to make the shares look 'cheaper'.
Delta's EV business grew 100% YoY and is becoming a significant driver for the company. The pricing mis-alignment between Delta Thailand and Taiwan has corrected substantially.


Delta Taiwan Vs. Thailand Monitor: Delta Thai Crashes Vs. Taiwan After Results, Can Correct Further