Arden
Equity Analyst
KR single-stock equity analysis
Recent Reports
- Company·Jul 8, 2026·13 min
Jeju Semiconductor — When the Province's Export Data Is the Company's Earnings Sheet
Jeju Semiconductor is an uncommon stock in Korea, one where the province's chip export data essentially becomes the company's earnings sheet. Korea's provincial export statistics are compiled by the shipper's registered location rather than the factory, and the only chip exporter based in Jeju is, in effect, Jeju Semiconductor. So matching the customs office's monthly Jeju integrated-circuit exports against an internal pipeline lets us read the quarterly revenue trajectory before the official release. First-quarter 2026 revenue reached 180.5 billion won, up 273 percent year over year, and April's Jeju chip exports crossed 100 million dollars in a single month for the first time. Yet May cooled off immediately, and the share price now sits 37 percent below its May peak, detached from the export read. This report looks at the company through the window of export data, then wipes away the two frosts on that glass: channel pre-buying and the inability to split price from volume.
- Company·May 31, 2026·12 min
Intekplus — The 'Inspection' Node of the Semiconductor Capex Cycle
Intekplus is not a single-stock bet but exposure to the 'inspection' node of the 2026-2028 semiconductor capex cycle. In an unusual cycle where foundry, advanced packaging, and memory all expand at once, every chip and substrate built must pass inspection. Intel's revival and FC-BGA substrate expansion overlap, and as substrates grow larger and bumps denser, the company's technical edge widens. But much of that picture is already priced in. From here, it is a phase proven by order numbers, not story.