On February 5, the Taiwan Stock Exchange Weighted Index (TAIEX) closed at 23,161.58 points, up 367.62 points (+1.61%) from the previous trading day.

News reports cover multiple angles: OpenAI plans to develop an AI terminal device to replace smartphones, posing a challenge to companies like MediaTek and Qualcomm; the U.S., Mexico, and Canada have reached an agreement on the fentanyl issue, temporarily halting tariffs; Nissan may reject Honda's acquisition proposal; U.S. stocks rebounded due to easing U.S.-China trade tensions; analysis of the potential impact of Trump imposing a 100% tariff on Taiwan; gold prices hit a record high, base metals rose, and oil prices dipped slightly; profits in the financial sector hit record highs in 2024; and China is implementing countermeasures by imposing additional tariffs on the U.S.

Chinese startup DeepSeek has launched a low-cost AI model with performance comparable to that of OpenAI and Google, sending shockwaves through the U.S. tech sector and causing a sharp drop in U.S. stock markets, with NVIDIA's stock price plummeting in particular. The key to DeepSeek's success lies in its highly efficient data analysis methods, which require far fewer chips than its competitors. This has sparked widespread debate about AI development costs and the effectiveness of U.S. chip sanctions. DeepSeek's open-source strategy has further intensified international AI competition, eliciting varied responses from different countries. Meanwhile, the U.S. is assessing the possibility of tightening export control measures.

This report, prepared by Capital Investment Advisory, analyzes Trump's 2025 inaugural address and the potential impact of his policies on the U.S. economy. The report focuses on Trump's trade policies (high tariffs, particularly targeting Mexico, Canada, and China), energy policies (expanding oil production and repealing the Green New Deal), and immigration policies (tightening border controls) and their effects on inflation, the U.S. dollar exchange rate, the job market, and the Federal Reserve’s monetary policy. Using data and models, the report predicts that these policies could lead to rising inflation and a stronger U.S. dollar while also examining the extent and duration of these effects. Finally, the report includes a disclaimer and an investment rating explanation.

NVIDIA plans to establish an overseas headquarters in Taiwan, considering factors such as government cooperation, industrial clustering, and transportation convenience. While Taipei City is the primary choice, limited land availability poses a challenge.

TSMC’s revenue saw significant growth in 2024, primarily driven by strong demand for AI chips. The company expects its revenue to grow by approximately 25% in 2025, while maintaining its long-term compound annual growth rate (CAGR) target of 20%. Notably, AI-related revenue is projected to increase by as much as 40%.

This document is an excerpt from ASE Technology Holding Co., Ltd.'s 2023 Annual Report (Part I), covering the company profile, corporate governance report, fundraising activities, and financial report. The report provides a detailed overview of the company's organizational structure, board operations, audit committee functions, sustainability strategies, and financial data and analysis. It particularly highlights ASE’s achievements in environmental sustainability, such as receiving the highest score on the Dow Jones Sustainability Index for consecutive years and implementing concrete ESG initiatives. Additionally, the report discusses trends in the semiconductor industry and ASE’s strategic responses, as well as the rise of generative AI and the new growth opportunities it presents for the semiconductor packaging and testing industry.

This document is MediaTek's 2023 Annual Report, covering corporate governance, financial status, business operations, and sustainable development. The report provides a detailed overview of MediaTek's business performance and market position in areas such as mobile chipsets, smart TV platforms, and custom chips. It also highlights the company’s efforts in research and development, talent cultivation, and social responsibility, as well as its strategies for managing market risks. Additionally, the report presents MediaTek’s concrete measures and achievements in environmental sustainability, along with key corporate governance information. Finally, it includes financial statements and the auditor's report.

This document is an excerpt from Realtek Semiconductor Corporation's Annual Report, covering the company profile, financial statements, business analysis, and corporate governance information. The report provides a detailed overview of Realtek's product development in the fields of communication networks, computer peripherals, and multimedia, as well as market competition and future outlook. It also discloses key information on the corporate governance structure, board members, and financial status. Additionally, the report highlights Realtek's investment in research and development, as well as its ESG strategies and implementation results.

This document is the annual report of Winbond Electronics Corporation, covering various aspects such as business operations, financial status, corporate governance, and sustainable development. The report provides a detailed overview of the company's product lines (including memory and logic chips), market sales performance, financial data (including income statement and balance sheet), board member information, internal control system, and future outlook. Additionally, it includes information on affiliated enterprises and explanations of risk management strategies.