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.

Silergy (6415.TT): Expecting a Seasonal Decline In 1Q24F, and Likely Another Growth Year in 2024F.

Silergy (6415.TT): Rebounding from the Bottom in 1Q24, It Will Witness Normal Orders Since 2Q24.

Silergy (6147.TT): The Wafer Demand Is Projected to Increase by 30-40% QoQ from 2Q24 Onwards.

Silergy (6415.TT): Silergy Expect to Grow Slightly in 4Q23F.

Silergy (6415.TT): Chinese Analog IC Could Raise up Prices by About 15%.

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>The factor of seasonality will be evolved in 1Q24F, but 2Q24F should be picking up most likely.</li>
<li>The Semiconductor cycle shall be reaching the bottom and no more correction, to our expectation.  </li>
<li>The recent changes of Silergy's management didn't affect the reality.  </li>
</ul>


The factor of seasonality will be evolved in 1Q24F, but 2Q24F should be picking up most likely.
The Semiconductor cycle shall be reaching the bottom and no more correction, to our expectation.  
The recent changes of Silergy's management didn't affect the reality.  


Taiwan Semiconductor (TSMC) - ADR (TSM US)

Silergy (6415.TT): Nothing Fundamental Changed in Reality; Semiconductor Cycle Shall Be Bottomed Up.

Silergy Corp

Silergy (6415.TT): Nothing Fundamental Changed in Reality; Semiconductor Cycle Shall Be Bottomed Up.