DNeX's 2 large cash generating engines - SilTerra and Ping is widely expected to double it's profits in FY23.

Overall

SilTerra:

Secured agreement to supply wafers to World's Number 1 Low Energy Bluetooth company - Nordic Semiconductor ~ Cash upfront is 1.4x of current 8 inch wafer prices due to shortage of such specialty design. 

Secured agreement to supply MEMS wafers to Number 1 Semiconductor company in the Middle East ~ Pearl Semiconductor ~ Cash upfront 3x of current 8 inch wafer prices due to 1st in the world design of such MEMS specialty design. 

Cash upfront deposit of 40% from existing LTA covering 60% of existing capacity + re-opening of China economy spurring demand for Driver IC's 

Ping Petroleum:

Completion of repair of a key component of Anasuria Cluster to boost productivity by 50%, resulting in Ping profit to potentially double provided oil is at current prices ~US$80-90/bbl.

Surprises

Much to our surprise, SilTerra is moving up the global SIlicon Photonics and MEMS value chain at a rapid pace, due to its early investments in such technology and collaboration with global semiconductor R&D giant iMEC. 

As global chip company scramble due to high inventory levels for conventional PC chips, SilTerra is insulated from such oversupply due to its superior inbuilt technology to supply these next generation chips that are expected to be mass adopted beginning from the end of FY23.

Expectations

EPF accumulated a stake of up to 3.8% based on latest Annual Report filed ~ While this was widely expected by us, it is still a very positive news given large local ongoing institutional support.

Foreign institutional funds begin to upstake DNeX due to their better understanding of the widely positive financial impact from mass adoption of MEMS and Silicon Photonics by global conglomerates, especially in the use of low powered / battery enhancement products.