- All the Singapore tech manufacturer companies under our coverage have just released their results and it has not been a good season, with two-third of the stocks missing our earnings estimates. This was mainly due to weak customer demand (AEM, NanoFilm, Venture Corp) and slow ramp-up of new plant (UMS).
- - Read this at SGinvestors.io -
Earnings misses were due to weak customer demand: expect further downside especially for AEM given its weak guidance and challenging outlook for Intel.
- - Read this at SGinvestors.io -
- All the Singapore tech manufacturer companies under our coverage have just released their results and it has not been a good season, with two-third of the stocks missing our earnings estimates. This was mainly due to weak customer demand (AEM, NanoFilm, Venture Corp) and slow ramp-up of new plant (UMS).
- On the other hand, Frencken and Aztech met our expectations due to robust customer demand.
- A key takeaway from the 1H24 results season is that each tech manufacturing company is going through their own earnings cycle and facing challenges due to issues with their major customers, especially for AEM and NanoFilm which reported losses in 1H24.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-08-28
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