Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Sino American Silicon (5483): Entry to Globalwafers and Others

Nanya Tech: SK Hynix & Samsung Results Supportive for Memory Chip Industry 2023E Outlook

Sino-American Silicon Products - Its Majority Stake in Globalwafers Is Worth More Than Its Mkt Cap

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

Equity Bottom-Up

Sino American Silicon Products / Equity Bottom-Up

<ul>
<li>Our NAV analysis suggests a target price of 146.5 TWD for Sino-American Silicon Products (SAS), representing a lack of upside from current price.</li>
<li>Sino-American Silicon Products' stake in Global wafers represents 109% of SAS's current market cap. </li>
<li>Two major risk factors on SAS include concerns about a global semiconductor sector downturn combined with increasing hostile political conflict between China and Taiwan. </li>
</ul>


Our NAV analysis suggests a target price of 146.5 TWD for Sino-American Silicon Products (SAS), representing a lack of upside from current price.
Sino-American Silicon Products' stake in Global wafers represents 109% of SAS's current market cap. 
Two major risk factors on SAS include concerns about a global semiconductor sector downturn combined with increasing hostile political conflict between China and Taiwan. 


Sino-American Silicon Products: Increasing Concerns About a Global Semiconductor Downturn