Equity Analysis /
China

CN : Technology - Others - Yoy turnover growth rate stabilized in Nov 21

    Mark Po
    Mark Po

    Research Analyst

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    CGS-CIMB
    13 December 2021
    Published byCGS-CIMB

    On average, shares of HK-listed hardware names outperformed the market and those of their global peers (except for Korea) on a one-month basis. Taiwan-listed technology names reported their Nov 21 turnover. In general, the yoy growth rate stabilized in Nov and Oct after a slowdown in previous months. The major sub-segments in the semi supply chain reported divergent performance, with IC design and packaging testing slowing down, but wafers and foundries picking up. The performance of the handset supply chain stabilized in Nov vs. Oct. News reports about the Apple camp may offer a negative surprise, as profitability remains key. The analysis in this report is based on industry and macro figures and may differ from the views of individual analysts, in some cases.