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

Delta Electronics (Thailand) - Strong 3Q24 Net Profit but Share Price Fully Valued

Delta Electronics (Thailand) - Slowing growth despite robust AI trend (DELTA TB, CP THB138.00, Initiate HOLD, TP THB124.20, Technology)

Delta Taiwan Vs. Thailand Monitor: Thai Shares' Extreme Valuation Is Back; Unsustainable Mismatch

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

Delta Electronics Thailand  / Equity Bottom-Up

<ul>
<li>Delta Thailand Still Grossly Overvalued Even After Recent Correction; Under Market Surveillance Until December 11th</li>
<li>Delta Taiwan's Market Cap Remains at Just 57% of Delta Thailand</li>
<li>Further Valuation Correction Likely Between the Two Names; We Believe Delta Taiwan Should Outperform</li>
</ul>


Delta Thailand Still Grossly Overvalued Even After Recent Correction; Under Market Surveillance Until December 11th
Delta Taiwan's Market Cap Remains at Just 57% of Delta Thailand
Further Valuation Correction Likely Between the Two Names; We Believe Delta Taiwan Should Outperform


Delta Taiwan Vs. Thailand Monitor: Delta Thai Remains at Extreme Relative Value Even After Sell-Off