Asia Pacific Reports/Notes: Asia Technology Tracker

研报英文原文证据摘录

Asia Pacific Reports/Notes: Asia Technology Tracker

Asia Pacific Equity Research

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Asia Technology Tracker 14 July 2026

Asia Pacific Reports/Notes

Asia Technology

Asian investor marketing feedback on memory/Korea tech and holdco (Jay Kwon)

We met with over 50 investors in Hong Kong last week. In this note we highlight the key areas of investor

interest and feedback and try to answer FAQs from the meetings.

Driver IC Food Chain

Pricing firms up, but DDIC demand stays tepid into 2H26 (Gokul Hariharan)

Overall DDIC demand will likely remain soft into 2H26, in our view, given the absence of the pull-in orders

seen in 1H26, when customers front-loaded ahead of further memory price hikes. We do not see a near-

term catalyst to support a DDIC demand recovery over the next few quarters, especially amid currently tepid

consumer electronics demand and the lack of benefit from the AI side. Despite soft end demand, pricing

across the DDIC value chain is firming, as DDIC fabless vendors raise prices across LDDIC, TDDI, Auto,

and potentially OLED DDIC to pass through rising foundry (VIS, Nexchip, UMC) and OSAT (Chipbond,

ChipMOS) costs—with foundries and OSATs having already implemented price hikes into 2Q/3Q26. This

ASP improvement should cushion some of the shipment downtick for DDIC fabless vendors and support

GM expansion for both DDIC OSATs and DDIC fabless players (we expect Novatek's FY26 GM at 39.5%,

up ~2ppts YoY, helped by price hikes and a rising SoC mix).