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yes, fibo. But I doubt will able to get it. Will be happy if i can just get a small qty. National team will be holding it tightly and grab the tickets.
Makes sense with the hype due to the results achieved so far. Founded in 2020 and scaled to 100 mil revenue as of 2025; high growth if you will. They have achieved this without ARM's CSS. They are reviewing ARM's CSS granted to them by the gomen and mentioned in the prospectus too; potentially scale higher. All the risk factors are mentioned in the prospectus too. So, it is definitely worth the hype but not everyone will be successful in the IPO application.
Those that didn't get it will have to hope for it to be Oppstar 2.0. Lol, no pun intended. Oppstar seriously need ARM's CSS and then hire engineers as Oppstar's IP count is miserable. ARM's CSS will help Oppstar to get some design job perhaps. But it's not going to be cheap. If they are granted the CSS, private placement is probably needed to fund the CSS licensing.
probably lower, adama. there is only 35.9 mil for malaysian public and 50% for bumi and 50% for non-bumi. That makes it 17.9 mil for malaysian public. 35.9 mil is approx 2%. Such setup is one of the few things that I dislike from the prospectus.
Its only 2% for retail offering. Not gonna chase if I can't get IPO shares. Well, unless day 1 opening is within reasonable price. Else, cheer for successful applicants and the listing of Malaysia's chip design company.
Let it go then. It's a mission accomplished setup - 2% retail offering to create scarcity to "justify" higher market pricing. Good for successful retail IPO applicants :)
strange news from the Edge on Arms AFA and CSS. Extracted the following statements from the article and sounded like GreatAsic is a larger/bigger enterprise. Used the same patents website that I checked for Oppstar and Skyechip and 0 for GreatAsic. Chip design with 0 patents but deemed as larger enterprise; fantastic - (1) GreatAsic was given access to both AFA and CSS from Arm Holdings. AFA gives companies early, low-cost access to its chip designs so they can experiment, develop, and test products without paying full licensing fees upfront, while CSS are ready-made chip building blocks that let companies design processors faster without starting from scratch. SkyeChip and Oppstar only received access to AFA. (2) The initiative offers two access tiers: AFA, tailored for start-ups and smaller companies, and Arm CSS, intended for larger, more established enterprises.
gonna be tough, fibo. the 2% setup is intentional. not to mention the capability of skyechip itself from its IPs perspectives. May need to wait a bit for decent price. the 2nd observation that I dislike from the prospectus is the major customers revenue trend changes after a year or two; customer concentration with rotating accounts if you will. This could be the opportunity for pullback if revenue falls behind.
the customer concentration with rotating accounts is also the reason why revenue growth outpaced profit growth. and the IP licensing (higher margin) revenue shifted to custom asic design (lower margin) revenue. So, if it is above 100%, market is valuing it as a pure IP licensing company while in reality as of 2025 it is an IP design and engineering company.
custom asic design work aka project based - resource intensive, lower margin comparing to IP licensing - higher margin, lump sum contract, jackie. the margin is shifting lower which means more project based design work instead of IP licensing. Btw, the IP licensing here is not the same as paying royalties. And didnt notice any discussion in the prospectus with regards to royalties payment from the customer.
cheng 大部分市场是中国 平常GP应该不包括折旧和和 staff cost Our GP margin decreased to 42.2% for the FYE 31 March 2025 (FYE 31 March 2024:
46.8%), mainly attributed to the higher depreciation, as well as the purchase of
semiconductor materials and manufacturing services for our custom ASIC segment Our GP margin decreased to 42.2% for the 看不明
yes it is Taiwan and China, jackie. Nevertheless, I dont expect margin to improve significantly with the latest news of ARMs AFA tokens and CSS. Skyechip is opting for AFA instead of CSS; staying through to the initial intention of the company - avoid competing with the big names / crowded space. The cost should be usd85k/year from ARM's website. Could be lower if gomen negotiated a good deal previously for the 7 CSS and 25 AFA tokens. https://www.arm.com/products/flexible-access
not sure whether I am getting the right translation, jackie. you are asking about why headcount and depreciation affects gross margin/gross profit? If thats the case, what is mentioned in the prospectus is correct. Skyechip is a chip design/engineering company. The headcount (engineers) and tools (systems/software) are being used to produce the revenue (custom ASIC design work / projects); directly involved or related to the project. Can't produce the revenue without these - hence, charge it to cogs. Headcounts like admin/finance/legal/marketing will not be part of cogs but parked under sga/administrative expense
stocks with representative traveling together with Trump to Beijing were up yesterday night; including the AI team. TACO going in with oil as leverage and Xi rare earth materials export controls. Doubt Xi will restrict the rare earth materials to US while US is beginning to feel the pain of high oil price and US needed China's consumption power and market.