Check in your RIMOWA and prepare for take-off - 8069 TT; BUY
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The stock looks very cheap (especially on an FCF basis), and we believe it will see a re-rating once its new IoT gadgets contribute 30-50% of its top line (which should not take too long, in our view). Despite the recent rally, its shares are still only trading at 0.7x 2016F P/B with around 25% net cash-to-market cap and an impressive FCF yield of 15-20%.
E Ink Holdings is a thin-film liquid crystal display (TFT-LCD) manufacturing company based in Taiwan. Co. is engaged in the development, manufacture, and sale of thin-film transistor liquid crystal display products. Co. offers TFT-LCD panels, which are primary parts/components to the electronics and information technology industries. These products are used in various applications, including consumer electronics, automobile display, and industrial display. Panels are designed for digital cameras, portable TVs, DVDs, GPS car navigation systems, portable TVs, entertainment and industrial products.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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