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Electronic paper giant E Ink's revenue in October was impressive. It has signed contracts with financial institutions such as Mega Bank to complete a joint loan of NT$12 billion (the same below). It has two major industries: e-book readers and electronic shelf labels. The field continues to receive orders.

Even in the past two years after the epidemic, terminal products including electric vehicles and generative AI have continued to introduce new ones. However, due to the sluggish consumer electronics industry and rising raw material costs, for Taiwan’s PCB industry, energy conservation, carbon reduction and China+1 The sustainable strategic layout is a lingering challenge, and it is also the key to whether future output value can stabilize and grow!

Artificial intelligence AI chips drive CoWoS advanced packaging to be in short supply. TSMC is still the leader in CoWoS production capacity, and ASE Investment Controls is actively cooperating with the layout. Although TSMC cooperates with packaging and testing factory Amkor in Arizona, the CoWoS production capacity is still in Taiwan. , it is estimated that ASE Investment Holdings’ advanced packaging and testing performance will explode next year.

Industry analysts from the Industrial Research Institute's "Looking into 2025 Industrial Development Trends Seminar" said that Taiwan's IC industry output value will officially exceed the 5 trillion yuan mark in 2024, with an annual growth of 22%, higher than the global market average.

TSMC estimates that capital expenditures in 2024 will be US$30 billion, and capital expenditures in 2025 are expected to overtake this year. The huge capital expenditures are like releasing a large order of nearly NT$1 trillion to the semiconductor upstream and downstream supply chains, attracting PCB material factories and equipment Companies are accelerating their entry into semiconductor applications and have become prominent in forming alliances to enter TSMC's supply chain.

Recently, the third-quarter financial reports and fourth-quarter outlook of major semiconductor foundries were better than expected, driving the Taiwan stock market to reach short-term swing highs. Chen Chuanyao, manager of Uni-President Pentium Fund, said that Taiwan and the United States have entered the earnings release season, and as the U.S. presidential election day gradually approaches, Taiwan stocks are expected to be range-bound in the short term, and may experience larger fluctuations. However, the operating outlook of many heavyweight companies in Taiwan is optimistic, and the fundamentals of the Taiwan stock market are solid. After the political uncertainty surrounding the U.S. election is eliminated, Taiwan stocks are still expected to perform well at the end of the year, driven by the development of AI. We are optimistic about the AI ​​supply chain, color e-books, graphics cards, fiber optics and Netcom switch groups, as they will have more performance opportunities in the future.