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Title:Connector industry: Buoyant NB application demand
Download File:Connector Industry note 201210--sinopac.pdf 
Summary:SinoPac View: NB application shipment is better than expected, and momentum looks sustainable for the short term, based on our recent supply chain check. With Chromebooks spearheading the growth, shipment volume of Type C connectors, NB board-to-board connectors, and NB flexible printed circuit (FPC) connectors will remain strong. Meanwhile, Sinbon has received follow-up orders from green energy and automotive clients.

Stock picks:

Sinbon (3023 TT), Buy, TP unchanged at NT$226 (22x 2021F P/E) ¨C 14% upside

Lotes (3533 TT), Buy, TP unchanged at NT$540 (17x 2021F P/E) ¨C 16% upside
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