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citi
Taiwan Electronics & Semiconductors
Taiwan monthly tracker and what's new in AI - Positive into earnings season
CITI'S TAKE
Taiwan technology supply chain concluded a robust 3Q26 revenue. Other than solid momentum in foundry, OSAT and testing interface/equipment, we see accelerating revenue growth for substrate and CCL makers. Server ODMs are also benefiting from new Rubin system and ASIC rack ramping. Heading into 3Q26 earnings season, we expect companies to provide better visibility and outlook into 4Q26 and 2027. We expect TSMC's earnings call to be an important indicator and catalyst for AI supply chain into next year (see our TSMC preview note).
Semiconductor foundry and OSAT- On the back of strong AI compute demand, TSMC and ASEH reported solid 18% and 28% QoQ revenue growth, respectively, in 3Q26. We believe there is a great chance that TSMC beats its full year guidance and delivers mid-40% YoY growth for 2026, and we expect more upside for ASEH's leap business outlook into next year. For trailing edge foundry, we believe the high UTR will support better GM recovery; VIS may see more revenue and GM upside on its interposer business outsourcing from TSMC.
On testing interface and equipment, we expect the rising chip complexity and testing process to persist. Both Chroma and Hon Precision posted stronger than expected Sep and 3Q26 revenue. With smooth capacity ramp for Hon, we see sequential QoQ sales growth momentum into next year. MPI and Winway are also ahead of consensus on 3Q26 revenue while WinWay's MoM decline in Sep was mainly driven by lower probe card revenues as major project shipments have temporarily wrapped up. We expect Rubin Ultra's expandable scale-up CPO rack design to be the next catalyst for CPO testing sector into late 2026/early 2027.
IC fabless - ASIC momentum picking up - Thanks to ARM-based CPU and Trainium 3 momentum pickup respectively at GUC and Alchip, both companies' 3Q26 revenues are ahead of consensus estimate with 35%/243% QoQ growth, respectively. We believe the robust order flow will continue into 4Q26/2027. We see multiple growth on GUC's CPU shipment growth into next year thanks to agentic AI demand and Alchip's Trainium chip ramping up into next year also on track. On Mediatek, 3Q26 revenue is ahead of company's guidance and Street's estimate thanks to its market share gain in smartphone, and we expect TPU to start contributing in 4Q26. We expect Mediatek to further lift its AI ASIC business opportunity thanks to solid product pipeline in the next 2 years (see our recent report on Mediatek).
See Appendix A-1 for Analyst Certification, Important Disclosures and Research Analyst Affiliations.
n
Laura (Chia Yi) Chen AC
+886-2-8726-9090 laura.cy.chen@citi.com
Jack Chen +886-2-8726-9091 jack1.chen@citi.com
Angela Hsu +886-2-8726-9083
angela.hc.hsu@citi.com
Michael Hung +886-2-8726-9092 michael.hung@citi.com
Nicholas Lai +886-2-8726-9093 nicholas.lai@citi.com [讀者資訊已遮蔽] PCB and substrate- 3Q26 was a strong quarter for substrate and CCL sectors, with demand continuously piling up. Unimicron posted +23% QoQ sales growth in 3Q26, beating Citi/consensus forecasts by 4%/6%. We expect 4Q26E ABF sales momentum to be even stronger vs 3Q considering all the AI chips ramping up together. CCL names also saw strong momentum across the board thanks to enhanced product mix and benefit from price hike in 2Q26. We expect CCL sector to see another round of price hikes from Nov onwards. For PCB, GCE's Sept sales were impacted by flooding in Thailand, which led to logistics disruption, while Tripod posted record monthly sales backed by memory demand and early pull-in before China Golden Week. With TPCA Show coming next week, we think substrate/CCL/PCB sectors might see some event catalysts in the near term. However, from a fundamental perspective, we still prefer substrate (Unimicron>NYPCB>Kinsus) > CCL (EMC>TUC) > PCB.
PC/NB Supply chain - For NB ODMs, overall NB shipments see MoM increase in Sep (+32% MoM) due to the quarter end inventory build; combined 3Q NB shipments were down 17% QoQ due to the early pull-in in 1H. We forecast 4Q26E NB shipments to further decline -7% QoQ/-28% YoY given the muted demand on rising retails prices and the increasing constraint in components procurement, While the price hike effect in the NB products should partially offset shipment decline, we expect increasing margins dilution impact to the NB ODM supply chains.
For lens components - Largan reported relatively muted sales results in Sep at NT$5,779m (+15% MoM/-7% YoY); combined 3Q revenues are below market estimates while Genius' 3Q revenues were slightly better than expectation. Despite the near-term sales performance, we see more upside opportunity coming from their new development in optical business in the longer term. We expect Genius' project with a leading US company on optical connector and ferrule to start shipment in 1H27. For Largan, we expect it to benefit most from FA/FAU for CPO market. We see its current engagement with the leading US client progressing smoothly, as evidenced by its continued new land expansion for future capacity build-out (see our recent report).
Thermal - Sep-26 sales as reported by thermal players (AVC & Auras) were up from Aug at +6% MoM/+42% YoY. While AVC delivered another record month thanks to solid ASIC demand and initial Vera Rubin shipments, Auras experienced MoM decline due to client deferring pull-ins and Thailand flooding. Going forward, we preliminarily expect both companies to see sequential revenue growth in 4Q26E, driven by the AWS Trainium transition from air to liquid cooling, ramp-up of the TPU and Vera Rubin projects.
Power - Delta reported MoM revenue recovery in Sep-26 (+1% MoM/+14% YoY), with power electronics down 4% MoM. 3Q26 revenues were up 8% QoQ but below our and Street's expectation. We expect Delta to regain momentum with double-digit QoQ growth in 4Q26E as ±400V enters the initial transition period, while in the long term, HVDC is still progressing gradually while Delta maintains its technology leadership. For BBU, we see Sep sales showing mixed momentum yet resilient BBU demand remains intact. Dynapack's Sep-26 sales declined 34% y/y and 54% m/m to NT$776mn, reflecting 1) weaker PC shipments amid quarter-end inventory adjustments and 2) deferred shipments of one BBU product, broadly consistent with the near-term weakness flagged in our Aug-26 sales note. We expect a meaningful sales rebound from Oct helped by shipments of new higher-power BBU products. Meanwhile, AES maintained solid momentum with Sep-26 sales rising 25% y/y (+1% m/m), suggesting resilient underlying BBU demand. Similarly, STL (4931.TWO; not covered) delivered robust 176% y/y growth, further reinforcing our positive view on the sector. We retain our constructive stance on BBU names, supported by sustained demand and upcoming product ramps
Passive components - Yageo reported trended up monthly sales in Sep-26, as demand in Europe and US recovered after the summer holiday, on top of sustained AI demand. 3Q26 revenues were slightly above cons forecasts. Current quarter top line still beats mgmt.'s "moderate growth" guidance. We believe that growth was again broad-based across commodity and specialty products, and driven by both volume and price. We expect a more visible ASP uplift in 4Q26E as specialty and contract-based business could slow vs the spot and distributor channels.
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[讀者資訊已遮蔽]
Figure 1. Overall Taiwan Technology Supply Chains - Revenues Trend
| Ticker | Company | Sep revenues (TWDm) | YoY | MoM | Actual 3Q26 QoQ | Citi 3Q26E QoQ | Cons. 3Q26E QoQ | Citi 3Q26E Tracking | Cons. 3Q26E Tracking | 9M26 (TWDm) | YoY | Aug-26 YoY | Jul-26 YoY | Jun-26 YoY | May-26 YoY | Apr-26 YoY | Closing Prices (NT$) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Wafer/materials | Wafer/materials | ||||||||||||||||
| 6488.TWO | GWC | 5,129 | -13% | 8% | -2% | 6% | 7% | 92% | 92% | 44,070 | -4% | 8% | 20% | -2% | -3% | -10% | 1,115 |
| 3532.TW | Formosa Sumco | 1,349 | 29% | 1% | 10% | na | 10% | na | 100% | 10,903 | 20% | 29% | 29% | 24% | 24% | 14% | 486 |
| 5434.TW | Topco Scientific | 7,701 | 26% | -1% | 14% | na | 17% | na | 97% | 63,029 | 25% | 36% | 43% | 33% | 19% | 12% | 593 |
| 6182.TWO | Wafer Works | 1,011 | 14% | 1% | 11% | na | na | na | na | 8,212 | 12% | 20% | 19% | 14% | 12% | 3% | 124 |
| Sub-Total | 15,190 | 9% | 2% | 8% | 126,214 | 12% | 24% | 32% | 16% | 10% | 3% | ||||||
| Semi materials/equipment | Semi materials/equipment | ||||||||||||||||
| 1560.TW | Kinik | 909 | 30% | 1% | 8% | na | 9% | na | 99% | 7,480 | 25% | 30% | 27% | 16% | 18% | 19% | 1,000 |
| 8028.TW | Phoenix Silicon | 512 | 33% | 1% | 7% | na | 11% | na | 97% | 4,262 | 30% | 26% | 37% | 34% | 46% | 31% | 282 |
| 3131.TW | Grand Process | 747 | 62% | 10% | 29% | na | 30% | na | 99% | 5,544 | 27% | 43% | 42% | 15% | 7% | -4% | 2,525 |
| 3583.TW | Scientech | 1,041 | 3% | -3% | 3% | na | 6% | na | 97% | 9,198 | 7% | 18% | 7% | -3% | 1% | 11% | 755 |
| 3680.TWO | Gudeng | 994 | 68% | 18% | 17% | na | 5% | na | 112% | 6,885 | 36% | 50% | 72% | 38% | 16% | 53% | 569 |
| 6187.TWO | All Ring | 1,160 | 109% | 5% | 41% | na | 26% | na | 112% | 7,090 | 58% | 103% | 73% | 87% | 44% | 26% | 1,675 |
| 6196.TW | Marketech | 7,174 | 88% | -1% | 3% | na | 4% | na | 99% | 57,421 | 56% | 84% | 101% | 121% | 65% | 46% | 657 |
| 6438.TW | Syrntek | 695 | 31% | 14% | 7% | na | na | na | na | 5,513 | 14% | 16% | 5% | -3% | 10% | 33% | 174 |
| 8091.TWO | Feedback Tech | 254 | 27% | -17% | 0% | na | -3% | na | 104% | 2,433 | 54% | 72% | 85% | 72% | 82% | 35% | 220 |
| Sub-Total | 13,486 | 64% | 2% | 8% | 105,825 | 47% | 61% | 66% | 65% | 42% | 35% | ||||||
| Probe card/testing equipment | Probe card/testing equipment | ||||||||||||||||
| 6223.TWO | MPI | 2,048 | 82% | 0% | 13% | 6% | 10% | 106% | 102% | 15,068 | 58% | 70% | 66% | 65% | 58% | 53% | 6,130 |
| 6515.TW | Winway | 1,250 | 88% | -27% | 29% | 25% | 21% | 103% | 107% | 11,060 | 97% | 233% | 156% | 288% | 120% | 51% | 6,025 |
| 6510.TWO | CHPT | 652 | 56% | 2% | 16% | 19% | 20% | 97% | 97% | 4,902 | 36% | 54% | 50% | 40% | 34% | 30% | 3,420 |
| 7769.TW | Hon Precision | 5,729 | 100% | 10% | 17% | 1% | 8% | 117% | 109% | 40,713 | 94% | 92% | 101% | 107% | 84% | 112% | 6,490 |
| 2360.TW | Chroma | 6,860 | 206% | 22% | 32% | 6% | 8% | 125% | 123% | 43,315 | 120% | 156% | 175% | 73% | 133% | 129% | 2,365 |
| Sub-Total | Sub-Total | 16,539 | 126% | 8% | 23% | 115,058 | 93% | 116% | 119% | 94% | 94% | 97% | |||||
| Design service/Semi IP | Design service/Semi IP | ||||||||||||||||
| 3443.TW | GUC | 7,145 | 98% | 22% | 35% | 17% | 15% | 115% | 117% | 44,099 | 103% | 111% | 158% | 104% | 132% | 157% | 8,100 |
| 3661.TW | Alchip | 9,979 | 496% | 14% | 243% | 156% | 239% | 134% | 101% | 37,878 | 45% | 274% | 182% | 15% | -33% | -32% | 4,395 |
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| 3529.TWO | eMemory | 177 | 13% | -50% | 10% | na | 7% | na | 103% | 3,401 | 21% | 43% | 24% | 47% | 12% | 13% | 2,850 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3035.TW | Faraday | 1,418 | 4% | 20% | 11% | na | -2% | na | 113% | 9,566 | -37% | 30% | 10% | 27% | -45% | -43% | 198 |
| 6533.TW | Andes | 193 | -10% | 69% | -25% | na | -16% | na | 90% | 1,320 | 30% | -26% | 22% | 247% | 2% | 23% | 345 |
| 6643.TWO | M31 | 153 | 23% | -13% | 17% | na | 28% | na | 92% | 1,312 | 6% | 73% | 29% | -24% | -18% | 31% | 477 |
| Sub-Total | 19,066 | 167% | 16% | 88% | 97,575 | 43% | 152% | 130% | 51% | 13% | 14% | ||||||
| IC design | |||||||||||||||||
| 2454.TW | Mediatek | 55,399 | 2% | -14% | 10% | 5% | 3% | 105% | 108% | 469,391 | 5% | 44% | 12% | 3% | 5% | -4% | 4,625 |
| 2379.TW | Realtek | 12,378 | 23% | -1% | 0% | -3% | 3% | 104% | 98% | 111,708 | 16% | 28% | 33% | 21% | 22% | 11% | 746 |
| 2401.TW | Sunplus | 638 | 21% | -7% | -3% | na | na | na | na | 5,954 | 24% | 41% | 38% | 35% | 29% | 14% | 26 |
| 2388.TW | VIA | 940 | -7% | 2% | -14% | na | na | na | na | 8,607 | 32% | 77% | 43% | 34% | 88% | 85% | 69 |
| 3034.TW | Novatek | 10,347 | 25% | 0% | 8% | 8% | 7% | 100% | 101% | 82,777 | 6% | 26% | 27% | 19% | 9% | 1% | 529 |
| 6462.TWO | EGIS | 496 | 0% | -7% | 11% | na | na | na | na | 5,740 | 53% | 11% | 64% | -24% | 136% | 12% | 100 |
| 5269.TW | ASMedia | 995 | -30% | 13% | -2% | 8% | 0% | 91% | 98% | 8,881 | -10% | -33% | -38% | -22% | -19% | -18% | 1,540 |
| 5274.TWO | Aspeed | 1,636 | 101% | 1% | 24% | 21% | 19% | 102% | 104% | 11,804 | 78% | 118% | 98% | 67% | 69% | 82% | 17,695 |
| 4966.TWO | Parade | 1,503 | -8% | 13% | -2% | na | 9% | na | 90% | 12,423 | -2% | 0% | -4% | 12% | 1% | -4% | 553 |
| 2458.TW | Elan | 602 | -47% | -19% | -31% | na | -5% | na | 73% | 8,650 | -9% | -37% | -13% | 7% | 4% | 6% | 133 |
| 6104.TWO | Genesys | 311 | -1% | -3% | -11% | na | na | na | na | 3,084 | 1% | 3% | 4% | 6% | 2% | -7% | 87 |
| Sub-Total | 85,246 | 7% | -9% | 8% | 729,019 | 8% | 37% | 17% | 8% | 10% | 0% | ||||||
| Foundry | |||||||||||||||||
| 2330.TW | TSMC | 511,857 | 55% | -1% | 18% | 15% | 15% | 102% | 103% | 3,898,727 | 41% | 53% | 45% | 68% | 30% | 17% | 2,540 |
| 2303.TW | UMC | 25,350 | 27% | 1% | 8% | 12% | 9% | 97% | 99% | 204,010 | 16% | 31% | 19% | 23% | 18% | 11% | 146 |
| 5347.TW | VIS | 5,904 | 16% | 16% | 10% | 11% | 8% | 99% | 102% | 42,479 | 18% | 40% | 30% | 34% | 19% | 10% | 181 |
| 6770.TW | PSMC | 7,665 | 94% | 9% | 23% | na | 11% | na | 112% | 52,205 | 52% | 76% | 71% | 69% | 59% | 32% | 71 |
| Sub-Total | 550,777 | 53% | 0% | 17% | 4,197,421 | 40% | 52% | 43% | 64% | 30% | 17% | ||||||
| OSAT | |||||||||||||||||
| 3711.TW | ASEH | 88,130 | 46% | 7% | 28% | 22% | 22% | 105% | 105% | 608,887 | 30% | 46% | 43% | 33% | 29% | 19% | 762 |
| 2449.TW | KYEC | 4,071 | 24% | 0% | 9% | 9% | 9% | 100% | 100% | 33,476 | 34% | 32% | 37% | 29% | 37% | 35% | 300 |
| 6147.TWO | Chipbond | 2,439 | 28% | -7% | 14% | 3% | 6% | 111% | 108% | 19,969 | 24% | 11% | 11% | 11% | 11% | 11% | 229 |
| 8150.TW | Chipmos | 2,792 | 34% | 0% | 14% | na | 9% | na | 104% | 22,719 | 30% | -9% | -9% | -9% | -9% | -9% | 123 |
| 6239.TW | Powertech | 8,507 | 27% | -1% | 10% | 8% | 6% | 101% | 103% | 69,764 | 30% | -5% | -5% | -5% | -5% | -5% | 305 |
| 2441.TW | Greatek | 1,957 | 40% | -4% | 14% | na | na | na | na | 16,004 | 28% | 9% | 9% | 9% | 9% | 9% | 130 |
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| 3374.TWO - Sub-Total | Xintec | 932 - 108,828 | 21% 42% | 3% - 5% | 24% | na | 23% | na | 101% | 6,800 - 777,620 | 31% 30% | 1% 42% | 1% 41% | 1% - 32% | 1% - 28% | 1% 21% | 482 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PCB | |||||||||||||||||
| 3037.TW | Unimicron | 18,651 | 65% | 5% | 23% | 18% | 16% | 104% | 106% | 132,986 | 38% | 56% | 44% | 36% | 32% | 28% | 1,255 |
| 3044.TW | Tripod | 10,648 | 54% | 4% | 23% | 13% | 15% | 109% | 108% | 76,516 | 41% | 65% | 57% | 42% | 47% | 29% | 579 |
| 8046.TW | Nanya PCB | 5,586 | 58% | 4% | 21% | 19% | 20% | 102% | 100% | 41,131 | 42% | 41% | 50% | 50% | 36% | 39% | 1,440 |
| 3189.TW | Kinsus | 5,181 | 44% | 8% | 16% | 20% | 15% | 97% | 101% | 38,141 | 34% | 41% | 36% | 32% | 33% | 27% | 1,060 |
| 6213.TW | ITEQ | 5,824 | 111% | 15% | 35% | na | 28% | na | 106% | 36,290 | 50% | 98% | 97% | 48% | 29% | 14% | 812 |
| 6274.TWO | TUC | 6,126 | 115% | 4% | 26% | 17% | 20% | 108% | 105% | 42,304 | 99% | 132% | 122% | 106% | 124% | 96% | 1,735 |
| 2383.TW | Elite Materials | 21,532 | 169% | 7% | 29% | 17% | 18% | 110% | 109% | 141,227 | 104% | 130% | 129% | 121% | 115% | 94% | 6,150 |
| 6153.TW | Career | 539 | 1% | -5% | 8% | na | na | na | na | 4,404 | 5% | 16% | 21% | 25% | 10% | -14% | 18 |
| 8039.TW | Taiflex | 840 | -19% | 4% | -8% | na | na | na | na | 7,605 | -3% | -14% | -6% | -7% | 1% | -1% | 296 |
| 2313.TW | Compeq | 8,617 | 15% | 23% | 13% | na | 21% | na | 94% | 62,125 | 13% | 7% | 16% | 21% | 13% | -3% | 252 |
| 2367.TW | Unitech Print | 1,480 | 4% | 1% | 11% | na | na | na | na | 12,579 | 0% | 26% | 25% | -4% | 16% | -22% | 48 |
| 2368.TW | Gold Circuit | 9,320 | 55% | -10% | 22% | 16% | 26% | 105% | 97% | 73,379 | 69% | 76% | 77% | 78% | 87% | 58% | 1,235 |
| 8358.TWO | Co-Tech | 1,104 | 65% | 5% | 13% | na | 12% | na | 100% | 8,506 | 49% | 60% | 55% | 43% | 41% | 36% | 522 |
| 8155.TWO | Allied Circuit | 563 | 31% | 0% | 5% | na | 6% | na | 99% | 4,811 | 35% | 35% | 52% | 32% | 30% | 29% | 320 |
| 6672.TW | Ventec | 1,021 | 202% | 27% | 54% | na | 25% | na | 123% | 5,352 | 69% | 133% | 91% | 68% | 35% | 37% | 598 |
| Sub-Total | 97,032 | 70% | 6% | 23% | 687,356 | 50% | 67% | 64% | 55% | 52% | 36% | ||||||
| Distributor | |||||||||||||||||
| 3036.TW | WT Micro | 215,933 | 60% | 9% | 1% | 2% | 1% | 99% | 100% | 1,682,249 | 101% | 98% | 95% | 188% | 153% | 79% | 217 |
| 3702.TW | WPG Holdings | 219,595 | 146% | 54% | 11% | na | -8% | na | 120% | 1,282,707 | 72% | 80% | 91% | 132% | 83% | 39% | 116 |
| 2347.TW | Synnex | 90,309 | 159% | 22% | 18% | na | 9% | na | 108% | 564,075 | 98% | 122% | 129% | 136% | 130% | 84% | 99 |
| 3010.TW | Wah Lee | 9,012 | 41% | 13% | 7% | na | na | na | na | 71,221 | 22% | 24% | 31% | 14% | 28% | 13% | 133 |
| Sub-Total | Sub-Total | 534,849 | 102% | 26% | 19% | 3,600,253 | 87% | 93% | 97% | 147% | 117% | 77% | |||||
| Compound | Semi | ||||||||||||||||
| 3105.TWO | Win Semi | 2,030 | 30% | 5% | 11% | na | 12% | na | 99% | 15,706 | 33% | 31% | 31% | 30% | 40% | 49% | 580 |
| 2455.TW | VPEC | 449 | 29% | -5% | 39% | na | 24% | na | 112% | 3,267 | 35% | 71% | 45% | 24% | 47% | 38% | 564 |
| 8086.TW | AWSC | 422 | 8% | 0% | -3% | na | -3% | na | 100% | 3,783 | 32% | 13% | 18% | 16% | 37% | 49% | 149 |
| 3081.TWO | LandMark | 540 | 190% | 4% | 28% | na | 28% | na | 100% | 3,688 | 136% | 181% | 177% | 128% | 119% | 115% | 3,025 |
| 4968.TW | Richwave | 330 | 0% | 2% | -2% | na | 10% | na | 89% | 2,880 | 3% | -2% | -2% | -1% | 7% | 0% | 95 |
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| Sub-Total | 3,771 | 34% | 3% | 13% | 29,324 | 36% | 39% | 37% | 30% | 42% | 46% | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| iPhone | |||||||||||||||||
| 3008.TW | Largan | 5,779 | -7% | 15% | 15% | 15% | 33% | 100% | 86% | 44,860 | 2% | -16% | -10% | -10% | 42% | 23% | 7,325 |
| 3406.TW | Genius | 2,672 | 1% | -2% | 37% | 9% | 35% | 127% | 102% | 19,636 | 10% | 1% | 2% | 5% | 30% | 25% | 1,070 |
| 6269.TW | Flexium | 2,099 | -3% | 5% | 14% | 18% | 29% | 97% | 89% | 16,989 | 1% | 1% | 4% | -1% | -6% | 0% | 64 |
| 4958.TW | ZDT | 26,358 | 36% | 28% | 33% | 33% | 31% | 100% | 102% | 153,783 | 22% | 41% | 32% | 33% | 37% | 12% | 581 |
| 2317.TW | Hon Hai | 1,158,633 | 38% | 26% | 20% | 15% | 13% | 105% | 107% | 7,669,773 | 40% | 52% | 54% | 52% | 40% | 30% | 245 |
| Sub-Total | 1,410,294 | 44% | 36% | 23% | 8,812,666 | 36% | 49% | 48% | 47% | 36% | 23% | ||||||
| Server | |||||||||||||||||
| 5274.TWO | Aspeed | 1,636 | 101% | 1% | 24% | 21% | 19% | 102% | 104% | 11,804 | 78% | 118% | 98% | 67% | 69% | 82% | 17,695 |
| 6669.TW | Wiwynn | 172,620 | 100% | 20% | 56% | 31% | 30% | 120% | 121% | 989,278 | 50% | 50% | 39% | 30% | 18% | 30% | 2,275 |
| 2059.TW | King Slide | 4,464 | 196% | -31% | 60% | na | 62% | na | 99% | 33,618 | 168% | 344% | 356% | 221% | 172% | 79% | 10,580 |
| 2368.TW | Gold Circuit | 9,320 | 55% | -10% | 22% | 16% | 26% | 105% | 97% | 73,379 | 69% | 76% | 77% | 78% | 87% | 58% | 1,235 |
| 8210.TW | Chenbro Micom | 2,476 | 14% | 1% | -5% | na | 11% | na | 85% | 22,323 | 46% | 41% | 42% | 98% | 37% | 5% | 861 |
| Sub-Total | 190,517 | 97% | 15% | 52% | 1,130,402 | 54% | 56% | 47% | 36% | 26% | 32% | ||||||
| ODM/OEM | |||||||||||||||||
| 2324.TW | Compal | 94,434 | 35% | 40% | 2% | 10% | 6% | 92% | 97% | 682,376 | 20% | 15% | 38% | 58% | 22% | 16% | 37 |
| 3231.TW | Wistron | 380,806 | 87% | -17% | 28% | 10% | 19% | 117% | 108% | 2,890,836 | 97% | 166% | 61% | 54% | 39% | 112% | 190 |
| 6669.TW | Wiwynn | 172,620 | 100% | 20% | 56% | 31% | 30% | 120% | 121% | 989,278 | 50% | 50% | 39% | 30% | 18% | 30% | 2,275 |
| 2317.TW | Hon Hai | 1,158,633 | 38% | 26% | 20% | 15% | 13% | 105% | 107% | 7,669,773 | 40% | 52% | 54% | 52% | 40% | 30% | 245 |
| 2382.TW | Quanta | 325,300 | 77% | -23% | 8% | 7% | 7% | 101% | 101% | 2,961,358 | 99% | 177% | 131% | 103% | 94% | 121% | 322 |
| 2356.TW | Inventec | 98,636 | 63% | 18% | 1% | 0% | -5% | 101% | 106% | 742,261 | 43% | 36% | 66% | 62% | 35% | 37% | 58 |
| Sub-Total | 2,445,182 | 57% | 12% | 20% | 16,843,508 | 53% | 80% | 61% | 57% | 42% | 46% | ||||||
| PC | |||||||||||||||||
| 2357.TW | Asus | 97,243 | 18% | 2% | 7% | 13% | 10% | 95% | 98% | 742,432 | 39% | 51% | 53% | 56% | 9% | 46% | 977 |
| 2353.TW | Acer | 34,737 | 18% | 15% | 8% | na | 0% | na | 108% | 249,548 | 24% | 38% | 22% | -3% | 37% | 68% | 31 |
| 2379.TW | Realtek | 12,378 | 23% | -1% | 0% | -3% | 3% | 104% | 98% | 111,708 | 16% | 28% | 33% | 21% | 22% | 11% | 746 |
| 6104.TWO | Genesys | 311 | -1% | -3% | -11% | na | na | na | na | 3,084 | 1% | 3% | 4% | 6% | 2% | -7% | 87 |
| 2458.TW | Elan | 602 | -47% | -19% | -31% | na | -5% | na | 73% | 8,650 | -9% | -37% | -13% | 7% | 4% | 6% | 133 |
| 5269.TW | Asmedia | 995 | -30% | 13% | -2% | 8% | 0% | 91% | 98% | 8,881 | -10% | -33% | -38% | -22% | -19% | -18% | 1,540 |
| 4966.TWO | Parade | 1,503 | -8% | 13% | -2% | na | 9% | na | 90% | 12,423 | -2% | 0% | -4% | 12% | 1% | -4% | 553 |
7
[讀者資訊已遮蔽]
| 2324.TW - 3533.TW Lotes Sub-Total | Compal - 3533.TW Lotes Sub-Total | 94,434 - 3,357 245,560 | 35% - 16% 23% | 40% - 5% 16% | 2% - 4% 5% | 10% - 8% | 6% - 7% | 92% - 96% | 97% | 682,376 - 28,835 1,847,937 | 20% - 18% 27% | 15% - 20% 32% | 38% - 19% 39% | 58% - 17% 43% | 22% - 9% 18% | 16% - 15% 50% | 37 - 1,880 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Motherboards | Motherboards | ||||||||||||||||
| 2376.TW | Giga-Byte | 63,099 | 125% | 33% | 7% | 8% | -2% | 99% | 110% | 403,982 | 63% | 98% | 60% | 69% | 5% | 74% | 356 |
| 2377.TW | Micro-Star | 19,910 | 2% | 13% | 14% | 15% | 11% | 99% | 103% | 163,116 | -5% | 5% | 5% | 5% | 5% | 5% | 155 |
| 3515.TW | ASRock | 6,518 | 27% | 71% | 68% | na | 50% | na | 112% | 40,414 | 18% | 3% | 131% | 48% | -16% | -47% | 226 |
| 2425.TW | Chaintech | 1,971 | 289% | -1% | 0% | na | na | na | na | 14,845 | 134% | 118% | 144% | 376% | 95% | 88% | 36 |
| 6150.TWO | Tul | 648 | -12% | 13% | 66% | na | na | na | na | 4,294 | -25% | -21% | 17% | -30% | -54% | -69% | 69 |
| Sub-Total | Sub-Total | 92,146 | 71% | 29% | 12% | 626,651 | 34% | 49% | 42% | 38% | -4% | 27% | |||||
| Networking | Networking | ||||||||||||||||
| 6285.TW | Wistron Neweb | 16,079 | 64% | 2% | 23% | na | 14% | na | 108% | 117,291 | 41% | 81% | 90% | 84% | 35% | 16% | 264 |
| 5388.TW | Sercomm | 6,807 | 47% | -3% | 6% | na | 4% | na | 102% | 59,094 | 54% | 45% | 51% | 71% | 70% | 66% | 74 |
| 3596.TW | Acrcadyan Tech | 5,064 | 9% | 7% | 5% | na | 6% | na | 100% | 41,309 | 3% | 2% | 8% | 4% | 4% | 1% | 157 |
| 4906.TW | Gemtek Tech | 1,643 | 24% | -1% | 34% | na | na | na | na | 11,560 | -10% | 56% | 32% | -5% | -12% | -23% | 42 |
| 2345.TW | Accton | 40,399 | 66% | -1% | 26% | 14% | 20% | 111% | 106% | 286,402 | 62% | 59% | 72% | 61% | 57% | 54% | 2,130 |
| Sub-Total | Sub-Total | 69,993 | 56% | 0% | 22% | 515,655 | 47% | 56% | 65% | 59% | 44% | 36% | |||||
| Panel | Panel | ||||||||||||||||
| 2409.TW | AUO | 23,404 | -4% | 1% | -6% | 13% | -2% | 84% | 96% | 206,798 | -2% | -6% | -3% | 14% | -1% | -4% | 36 |
| 3481.TW | Innolux | 19,995 | 1% | 7% | -9% | na | -3% | na | 93% | 187,926 | 11% | 0% | -2% | 17% | 10% | 12% | 51 |
| Sub-Total | Sub-Total | 43,398 | -2% | 4% | 10% | 394,724 | 4% | -3% | -2% | 15% | 4% | -48% | |||||
| Memory | Memory | ||||||||||||||||
| 2408.TW | Nanya Tech | 45,091 | 577% | 1% | 62% | na | 42% | na | 114% | 265,285 | 627% | 561% | 720% | 621% | 730% | 717% | 527 |
| 3006.TW | Elite Semi | 7,461 | 470% | -6% | 59% | na | na | na | na | 43,363 | 344% | 605% | 491% | 328% | 297% | 349% | 261 |
| 2337.TW | Macronix | 8,367 | 188% | 3% | 27% | na | 30% | na | 97% | 53,831 | 155% | 219% | 180% | 216% | 176% | 154% | 116 |
| 8299.TWO | Phison | 30,639 | 370% | 8% | 27% | na | 21% | na | 105% | 194,932 | 291% | 377% | 378% | 301% | 301% | 237% | 2,055 |
| 6485.TWO | Asolid | 127 | 8% | 2% | 24% | na | na | na | na | 1,000 | -5% | 21% | 11% | -7% | -6% | -19% | 78 |
| 2451.TW | Transcend | 6,035 | 290% | 25% | -15% | na | 14% | na | 75% | 48,511 | 370% | 275% | 308% | 382% | 470% | 594% | 287 |
| 3260.TWO | A-Data | 15,730 | 200% | -17% | 39% | na | 23% | na | 113% | 117,306 | 216% | 280% | 331% | 212% | 210% | 170% | |
| 8271.TW | Apacer | 368 | |||||||||||||||
| 4967.TW | Team Group | 3,001 4,081 | 158% 110% | 8% 16% | -11% 34% | na na | na 119% | na na | na 61% | 25,300 26,772 | 217% 90% | 177% 275% | 165% 99% | 201% 35% | 224% 113% | 361% 79% | 197 270 |
8
[讀者資訊已遮蔽]
| Sub-Total | Sub-Total | 148,782 | 321% | 2% | 37% | 956,727 | 282% | 362% | 375% | 278% | 293% | 277% | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MCU/PMIC/MOSFET | MCU/PMIC/MOSFET | ||||||||||||||||
| 6415.TW | Silergy | 2,511 | 51% | 4% | 21% | na | 10% | na | 110% | 18,141 | 35% | 53% | 59% | 38% | 32% | 28% | 440 |
| 3707.TWO | Episil Tech | 663 | 24% | 1% | 10% | na | na | na | na | 5,300 | 26% | 30% | 31% | 30% | 28% | 31% | 82 |
| 2481.TW | Pan Jit | 1,525 | 38% | 11% | 10% | na | 6% | na | 103% | 11,726 | 20% | 30% | 31% | 27% | 14% | 9% | 171 |
| 3016.TW | Episil-Precision | 513 | 53% | 1% | 15% | na | 15% | na | 100% | 3,869 | 37% | 58% | 51% | 41% | 37% | 33% | 179 |
| 5425.TW | Taiwan Semi | 1,800 | 15% | 5% | 3% | na | na | na | na | 14,716 | 8% | 22% | 24% | 9% | 12% | 3% | 101 |
| 8261.TW | Advanced Power | 266 | -2% | -7% | -4% | na | 4% | na | 93% | 2,502 | 6% | -3% | 10% | 16% | 1% | 5% | 177 |
| 2342.TW | Mosel Vitelic | 175 | 1% | -3% | 3% | na | na | na | na | 1,547 | -3% | 4% | 11% | 5% | -3% | -3% | 47 |
| 5299.TWO | Excelliance Mos | 108 | -2% | -9% | -13% | na | na | na | na | 1,139 | -3% | -3% | -6% | -4% | 2% | 0% | 97 |
| 6138.TWO | Anpec Elec | 609 | -9% | -8% | -4% | na | 9% | na | 87% | 6,017 | 8% | 2% | 9% | 11% | 15% | 14% | 265 |
| 8081.TW | Global Mixed-Mod | 828 | 14% | 3% | 10% | na | 9% | na | 101% | 6,820 | 3% | 11% | 10% | 7% | -3% | -4% | 263 |
| Sub-Total | Sub-Total | 8,999 | 26% | 3% | 11% | 71,778 | 18% | 28% | 30% | 21% | 16% | 15% | |||||
| Power Supply | Power Supply | ||||||||||||||||
| 2308.TW | Delta | 65,400 | 15% | 1% | 8% | 18% | 14% | 91% | 95% | 539,668 | 37% | 35% | 48% | 55% | 44% | 44% | 1,900 |
| 2301.TW | Lite-on | 18,848 | 22% | -4% | 9% | na | 14% | na | 96% | 153,559 | 26% | 25% | 38% | 37% | 30% | 25% | 288 |
| 6412.TW | Chicony Power | 2,413 | -21% | -2% | -12% | na | 6% | na | 83% | 23,641 | -11% | -20% | -13% | -1% | -10% | -12% | 73 |
| Sub-Total | Sub-Total | 86,661 | 15% | 0% | 7% | 716,867 | 32% | 30% | 43% | 48% | 38% | 36% | |||||
| Heat Dissipation | Heat Dissipation | ||||||||||||||||
| 3653.TW | Jentech | 3,054 | 80% | -5% | -28% | na | 34% | na | 97% | 22,073 | 47% | 91% | 91% | 58% | 38% | 27% | 7,160 |
| 3017.TW | AVC | 21,018 | 45% | 8% | -3% | 18% | 17% | 102% | 103% | 157,248 | 71% | 54% | 57% | 66% | 61% | 72% | 3,385 |
| 3324.TWO | Auras | 2,884 | 23% | -8% | -13% | 17% | 18% | 96% | 96% | 27,040 | 72% | 67% | 117% | 62% | 94% | 41% | 1,540 |
| Sub-Total | 26,956 | 45% | 4% | 20% | 206,361 | 68% | 60% | 68% | 65% | 62% | 61% | ||||||
| Passive Components | Passive Components | ||||||||||||||||
| 2327.TW | Yageo | 17,068 | 46% | 5% | 11% | 10% | 9% | 101% | 102% | 132,154 | 36% | 52% | 52% | 39% | 47% | 22% | 636 |
| 2492.TW | Walsin Tech | 4,889 | 54% | 7% | 22% | na | na | na | na | 34,830 | 26% | 46% | 42% | 26% | 16% | 16% | 418 |
| Sub-Total | Sub-Total | 21,957 | 48% | 5% | 14% | 166,984 | 34% | 50% | 49% | 36% | 40% | 21% | |||||
| BBU | BBU | ||||||||||||||||
| 6781.TW | AES-KY | 1,760 | 25% | 1% | 9% | 0% | 8% | 109% | 100% | 14,572 | 26% | 27% | 28% | 26% | 21% | 17% | 1,015 |
| 3211.TWO | Dynapack | 776 | -34% | -54% | 5% | 33% | 21% | 79% | 87% | 10,517 | 14% | 17% | 21% | 21% | -11% | 19% | 382.5 |
| Sub-Total | Sub-Total | 2,537 | -2% | -26% | 7% | 25,090 | 21% | 22% | 25% | 23% | 5% | 17% |
9
[讀者資訊已遮蔽] Source: Citi Research, TEJ, Bloomberg
Companies Mentioned:
Accton (2345.TW; NT$2130.0; 1; 12 Oct 26; 13:30) | Acer Incorporated (2353.TW; NT$31.35; Not Rated; 12 Oct 26; 13:30) | ADATA Technology Co Ltd (3260.TWO; NT$367.5; Not Rated; 12 Oct 26; 15:00) | Advanced Energy Solution (6781.TW; NT$1015.0; 1; 12 Oct 26; 13:30) | Advanced Power Electronics Corp (8261.TW; NT$176.5; Not Rated; 12 Oct 26; 13:30) | Advanced Wireless Semiconductor Co (8086.TWO; NT$148.5; Not Rated; 12 Oct 26; 15:00) | Alchip (3661.TW; NT$4395.0; 1; 12 Oct 26; 13:30) | All Ring Tech Co., Ltd. (6187.TWO; NT$1675.0; Not Rated; 12 Oct 26; 15:00) | Allied Circuit Co Ltd (8155.TWO; NT$319.5; Not Rated; 12 Oct 26; 15:00) | Amazon.com, Inc. (AMZN.O; US$262.43; 1; 09 Oct 26; 16:00) | Andes Technology Corporation (6533.TW; NT$345.0; Not Rated; 12 Oct 26; 13:30) | ANPEC ELECTRONICS CORPORATION (6138.TWO; NT$265.0; Not Rated; 12 Oct 26; 15:00) | Apacer Technology Inc (8271.TW; NT$197.0; Not Rated; 12 Oct 26; 13:30) | Arcadyan Technology Corp (3596.TW; NT$157.0; Not Rated; 12 Oct 26; 13:30) | ASE Technology Holding (3711.TW; NT$762.0; 1; 12 Oct 26; 13:30) | Asia Vital Components (3017.TW; NT$3385.0; 1; 12 Oct 26; 13:30) | ASMedia (5269.TW; NT$1540.0; 2; 12 Oct 26; 13:30) | ASolid Technology Co Ltd (6485.TWO; NT$78.4; Not Rated; 12 Oct 26; 15:00) | Aspeed Technology (5274.TWO; NT$17695.0; 1; 12 Oct 26; 15:00) | ASRock Incorporation (3515.TW; NT$225.5; Not Rated; 12 Oct 26; 13:30) | ASUSTeK Computer (2357.TW; NT$977.0; 1; 12 Oct 26; 13:30) | AUO (2409.TW; NT$35.55; 2; 12 Oct 26; 13:30) | Auras Technology (3324.TWO; NT$1540.0; 1; 12 Oct 26; 15:00) | Career Technology MFG Co Ltd (6153.TW; NT$17.6; Not Rated; 12 Oct 26; 13:30) | Chaintech Technology Corp (2425.TW; NT$35.7; Not Rated; 12 Oct 26; 13:30) | CHENBRO MICOM CO., LTD. (8210.TW; NT$861.0; Not Rated; 12 Oct 26; 13:30) | Chicony Power Technology (6412.TW; NT$73.3; Not Rated; 12 Oct 26; 13:30) | Chipbond Technology (6147.TWO; NT$229.0; 1; 12 Oct 26; 15:00) | ChipMOS Technologies Inc (8150.TW; NT$123.0; Not Rated; 12 Oct 26; 13:30) | CHPT (6510.TWO; NT$3420.0; 1H; 12 Oct 26; 15:00) | Chroma ATE (2360.TW; NT$2365.0; 1; 12 Oct 26; 13:30) | Co-Tech Development Corp (8358.TWO; NT$522.0; Not Rated; 12 Oct 26; 15:00) | Compal Electronics (2324.TW; NT$36.6; 3; 12 Oct 26; 13:30) | Compeq Manufacturing Co Ltd (2313.TW; NT$252.0; Not Rated; 12 Oct 26; 13:30) | Delta Electronics (2308.TW; NT$1900.0; 1; 12 Oct 26; 13:30) | Dynapack International (3211.TWO; NT$382.5; 1; 12 Oct 26; 15:00) | EGIS TECHNOLOGY INC. (6462.TWO; NT$100.0; Not Rated; 12 Oct 26; 15:00) | ELAN MICROELECTRONICS CORPORATION (2458.TW; NT$133.0; Not Rated; 12 Oct 26; 13:30) | Elite Material (2383.TW; NT$6150.0; 1; 12 Oct 26; 13:30) | ELITE SEMICONDUCTOR MICROELECTRONICS TECHNOLOGY INC. (3006.TW; NT$260.5; Not Rated; 12 Oct 26; 13:30) | eMemory Technology Inc (3529.TWO; NT$2850.0; Not Rated; 12 Oct 26; 15:00) | EPISIL TECHNOLOGIES INC. (3707.TWO; NT$82.2; Not Rated; 12 Oct 26; 15:00) | Episil-Precision Inc (3016.TW; NT$179.0; Not Rated; 12 Oct 26; 13:30) | Excelliance MOS Corp (5299.TWO; NT$96.6; Not Rated; 12 Oct 26; 15:00) | Faraday (3035.TW; NT$197.5; Not Rated; 12 Oct 26; 13:30) | Feedback Technology Corp (8091.TWO; NT$219.5; Not Rated; 12 Oct 26; 15:00) | Flexium Interconnect (6269.TW; NT$63.5; 2; 12 Oct 26; 13:30) | Formosa Sumco Technology Corp (3532.TW; NT$485.5; Not Rated; 12 Oct 26; 13:30) | Gemtek Technology (4906.TW; NT$42.2; Not Rated; 12 Oct 26; 13:30) | Genesys Logic Inc (6104.TWO; NT$87.2; Not Rated; 12 Oct 26; 15:00) | Genius Electronic Optical (3406.TW; NT$1070.0; 1; 12 Oct 26; 13:30) | Gigabyte Technology (2376.TW; NT$356.0; 1; 12 Oct 26; 13:30) | Global Mixed Mode Technology Inc (8081.TW; NT$262.5; Not Rated; 12 Oct 26; 13:30) | Globalwafers Co (6488.TWO; NT$1115.0; 1; 12 Oct 26; 15:00) | Gold Circuit Electronics (2368.TW; NT$1235.0; 1; 12 Oct 26; 13:30) | Grand Process Technology Corp (3131.TWO; NT$2525.0; Not Rated; 12 Oct 26; 15:00) | Greatek Electronics Inc (2441.TW; NT$130.0; Not Rated; 12 Oct 26; 13:30) | GUC (3443.TW; NT$8100.0; 1H; 12 Oct 26; 13:30) | GUDENG PRECISION INDUSTRIAL CO., LTD. (3680.TWO; NT$569.0; Not Rated; 12 Oct 26; 15:00) | Hon Hai Precision (2317.TW; NT$244.5; 1; 12 Oct 26; 13:30) | Innolux Corp (3481.TW; NT$51.3; Not Rated; 12 Oct 26; 13:30) | Inventec (2356.TW; NT$58.1; 1; 12 Oct 26; 13:30) | ITEQ Corp (6213.TW; NT$812.0; Not Rated; 12 Oct 26; 13:30) | Jentech Precision Industrial Co Ltd (3653.TW; NT$7160.0; Not Rated; 12 Oct 26; 13:30) | KING SLIDE WORKS CO., LTD. (2059.TW; NT$10580.0; Not Rated; 12 Oct 26; 13:30) | King Yuan Electronics Co (2449.TW; NT$300.0; 1; 12 Oct 26; 13:30) | KINIK COMPANY (1560.TW; NT$1000.0; Not Rated; 12 Oct 26; 13:30) | Kinsus Interconnect Technology (3189.TW; NT$1060.0; 1; 12 Oct 26; 13:30) | LandMark Optoelectronics Corp (3081.TWO; NT$3025.0; Not Rated; 12 Oct 26; 15:00) | Largan Precision (3008.TW; NT$7325.0;
10
[讀者資訊已遮蔽]
1; 12 Oct 26; 13:30) | LITE-ON TECHNOLOGY CORPORATION (2301.TW; NT$288.0; Not Rated; 12 Oct 26; 13:30) | Lotes (3533.TW; NT$1880.0; 1; 12 Oct 26; 13:30) | M31 Technology Corporation (6643.TWO; NT$476.5; Not Rated; 12 Oct 26; 15:00) | Macronix International Co., Ltd. (2337.TW; NT$115.5; Not Rated; 12 Oct 26; 13:30) | Marketech International Corp. (6196.TW; NT$657.0; Not Rated; 12 Oct 26; 13:30) | Mediatek (2454.TW; NT$4625.0; 1; 12 Oct 26; 13:30) | Micro-Star (2377.TW; NT$155.0; 2; 12 Oct 26; 13:30) | Mosel Vitelic Inc (2342.TW; NT$46.95; Not Rated; 12 Oct 26; 13:30) | MPI (6223.TWO; NT$6130.0; 1H; 12 Oct 26; 15:00) | Nanya Technology (2408.TW; NT$527.0; 3; 12 Oct 26; 13:30) | Novatek (3034.TW; NT$529.0; 2; 12 Oct 26; 13:30) | NYPCB (8046.TW; NT$1440.0; 1; 12 Oct 26; 13:30) | Panjit International Inc (2481.TW; NT$171.0; Not Rated; 12 Oct 26; 13:30) | Parade (4966.TWO; NT$553.0; Not Rated; 12 Oct 26; 15:00) | Phison Electronics (8299.TWO; NT$2055.0; Not Rated; 12 Oct 26; 15:00) | Phoenix Silicon International Corporation (8028.TW; NT$281.5; Not Rated; 12 Oct 26; 13:30) | Powertech Technology (6239.TW; NT$304.5; 1; 12 Oct 26; 13:30) | PSMC (6770.TW; NT$71.4; Not Rated; 12 Oct 26; 13:30) | Quanta Computer (2382.TW; NT$322.0; 1; 12 Oct 26; 13:30) | Realtek (2379.TW; NT$746.0; 1; 12 Oct 26; 13:30) | RichWave Technology Corporation (4968.TW; NT$95.2; Not Rated; 12 Oct 26; 13:30) | Scientech Corp (3583.TW; NT$755.0; Not Rated; 12 Oct 26; 13:30) | Sercomm (5388.TW; NT$74.1; Not Rated; 12 Oct 26; 13:30) | Silergy Corp. (6415.TW; NT$440.0; Not Rated; 12 Oct 26; 13:30) | STL Technology Co Ltd (4931.TWO; NT$241.5; Not Rated; 12 Oct 26; 15:00) | Sunplus Technology Co Ltd (2401.TW; NT$25.6; Not Rated; 12 Oct 26; 13:30) | Symtek Automation Asia Co Ltd (6438.TW; NT$174.0; Not Rated; 12 Oct 26; 13:30) | Synnex Technology (2347.TW; NT$98.9; Not Rated; 12 Oct 26; 13:30) | Taiflex Scientific Co Ltd (8039.TW; NT$296.0; Not Rated; 12 Oct 26; 13:30) | Taiwan Semiconductor Co Ltd (5425.TWO; NT$100.5; Not Rated; 12 Oct 26; 15:00) | Team Group Inc (4967.TW; NT$269.5; Not Rated; 12 Oct 26; 13:30) | Topco Scientific Co Ltd (5434.TW; NT$593.0; Not Rated; 12 Oct 26; 13:30) | Transcend Information (2451.TW; NT$286.5; Not Rated; 12 Oct 26; 13:30) | Tripod Technology (3044.TW; NT$579.0; 1; 12 Oct 26; 13:30) | TSMC (2330.TW; NT$2540.0; 1; 12 Oct 26; 13:30) | TUC (6274.TWO; NT$1735.0; 1; 12 Oct 26; 15:00) | Tul Corp (6150.TWO; NT$69.0; Not Rated; 12 Oct 26; 15:00) | Unimicron (3037.TW; NT$1255.0; 1; 12 Oct 26; 13:30) | UNITECH PRINTED CIRCUIT BOARD CORP. (2367.TW; NT$47.5; Not Rated; 12 Oct 26; 13:30) | Vanguard International Semi. (5347.TWO; NT$181.0; 1; 12 Oct 26; 15:00) | Ventec International Group Co Ltd (6672.TW; NT$598.0; Not Rated; 12 Oct 26; 13:30) | VIA Technologies, Inc. (2388.TW; NT$69.1; Not Rated; 12 Oct 26; 13:30) | Visual Photonics Epitaxy Co., Ltd. (2455.TW; NT$564.0; Not Rated; 12 Oct 26; 13:30) | Wafer Works Corp (6182.TWO; NT$124.0; Not Rated; 12 Oct 26; 15:00) | WAH LEE INDUSTRIAL CORP. (3010.TW; NT$132.5; Not Rated; 12 Oct 26; 13:30) | Walsin Technology Corporation (2492.TW; NT$418.0; Not Rated; 12 Oct 26; 13:30) | WIN Semiconductors Corp (3105.TWO; NT$580.0; Not Rated; 12 Oct 26; 15:00) | WinWay Technology (6515.TW; NT$6025.0; 1H; 12 Oct 26; 13:30) | Wistron (3231.TW; NT$189.5; 1; 12 Oct 26; 13:30) | Wiwynn (6669.TW; NT$2275.0; 1; 12 Oct 26; 13:30) | WNC Corporation (6285.TW; NT$263.5; Not Rated; 12 Oct 26; 13:30) | WPG HOLDINGS LIMITED (3702.TW; NT$116.0; Not Rated; 12 Oct 26; 13:30) | WT Micro (3036.TW; NT$216.5; 1; 12 Oct 26; 13:30) | Xintec Inc (3374.TWO; NT$481.5; Not Rated; 12 Oct 26; 15:00) | Yageo (2327.TW; NT$636.0; 1; 12 Oct 26; 13:30) | Zhen Ding Technology (4958.TW; NT$581.0; 1; 12 Oct 26; 13:30)
[讀者資訊已遮蔽] [讀者資訊已遮蔽] If you are visually impaired and would like to speak to a Citi representative regarding the details of the graphics in this document, please call USA 1-888-500-5008 (TTY: 711), from outside the US +1-210-677-3788