Decent 2016/17F outlook; capital reduction shows strong ambition
​VPEC attended the Yuanta Asia Forum on June 21. Mgmt indicated 1) LD epiwafers are undergoing 3,000-hour (for FTTH)/5,000-hour (for base stations) durability tests; mass production should start in 4Q16 at the earliest; 2) it is positive on increasing PA applications and growing PA number per unit in view of handset band expansion, carrier aggregation (CA) technology, MIMO antenna, the rise of IoT, and greater 11ac adoption; 3) it aims for half-half OC/PA sales exposure in the next three or four years; and 4) it guides for 2016 opex of NT$150 mn, mainly to procure MOCVD machines and second epitaxial regrowth equipment.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.