Greater China Technology Semiconductors_ Monthly Sales Tracker

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the Greater China Technology Semiconductors industry, focusing on various companies within this sector [17][26]. Company Ratings and Performance - Morgan Stanley's Stock Rating System: - Overweight (O): Expected total return exceeds the average of the industry over the next 12-18 months [2][3]. - Equal-weight (E): Expected total return is in line with the industry average [2][3]. - Not-Rated (NR): Insufficient conviction about the stock's return relative to the industry [2][3]. - Underweight (U): Expected total return is below the industry average [2][3]. - Stock Ratings Distribution (as of the latest update): - Overweight: 1,420 stocks (38% of total) - Equal-weight: 1,731 stocks (46% of total) - Not-Rated: 5 stocks (0% of total) - Underweight: 593 stocks (16% of total) [5]. Key Companies and Their Ratings - Empyrean Technology Co Ltd (301269.SZ): Overweight, price target Rmb130.42 [8]. - Hangzhou Silan Microelectronics Co. Ltd. (600460.SS): Equal-weight, price target Rmb28.16 [8]. - JCET Group Co Ltd (600584.SS): Underweight, price target Rmb40.45 [8]. - Shanghai Anlogic Infotech Co Ltd (688107.SS): Equal-weight, price target Rmb33.11 [8]. - Shanghai Fudan Microelectronics (1385.HK): Equal-weight, price target HK$15.64 [8]. - **Unigroup Guoxin Microelectronics Co Ltd (002049.SZ)**: Underweight, price target Rmb68.12 [8]. - **Universal Scientific Ind. (Shanghai) (601231.SS)**: Equal-weight, price target Rmb16.45 [8]. - **Yangjie Technology (300373.SZ)**: Overweight, price target Rmb46.65 [8]. Monthly Sales Forecasts - **IC Foundry**: UMC projected sales for December 2024 at NT$17,374 million, reflecting a month-over-month decrease of 13% [25]. - Semi Materials: GlobalWafers projected sales for December 2024 at NT$5,911 million, with a year-over-year decrease of 8$10,466 million, with a year-over-year increase of 20% [25]. - Testing & Packaging: ASE Technology projected sales for December 2024 at NT$46,300 million, reflecting a year-over-year decrease of 7$2,253 million, with a year-over-year decrease of 29% [25]. Analyst Industry Views - The overall industry view for the Greater China Technology Semiconductors sector is categorized as In-Line, indicating expected performance in line with the broader market benchmarks over the next 12-18 months [11][26]. Important Disclosures - Morgan Stanley emphasizes that their research is not tailored investment advice and encourages investors to evaluate investments based on their individual circumstances [12][14]. Conclusion - The conference call provides a comprehensive overview of the Greater China Technology Semiconductors industry, highlighting stock ratings, company performance, and sales forecasts, while maintaining a cautious yet optimistic outlook on the sector's future performance.