Fairlight Capital

Alternative investment management company. Not investment advice. [email protected]

[Fairlight Capital @Fairlight_Cap]

What the Boom Leaves Behind.
What will AI-driven, surging prices and revenues will leave behind at this technology stock?

[Fairlight Capital @Fairlight_Cap]

Taiwanese legacy memory fabless $ESMT $3006.TW had results for Q3 that look even better than we modeled. More income dropped to the bottom line, with NT$13.3 billion op income, NT$10.8 billion net income, and NT$26.5 billion cash at the end of the quarter. All of this versus a market cap of NT$80 billion and another strong pricing period projected for Q4. https://t.co/HcaMzcAeId

[Fairlight Capital @Fairlight_Cap]

Indirect AI Beneficiary Technology Business Trading Below 2× Run-rate Earnings. And could earn half its market cap in cash within six months.

[Fairlight Capital @Fairlight_Cap]

Indirect AI Beneficiary Technology Business Trading Below 2× Run-rate Earnings. And could earn half its market cap in cash within six months.

[Actusnews Wire @Actusnewswire]

$ALLOG #LOGICINSTRUMENT : Chiffre d'affaires à fin septembre 2026 en croissance de 127% dlvr.​it/TVnRJf

[Fairlight Capital @Fairlight_Cap]

$088130.KQ 동아엘텍이나 선익시스템을 지켜보고 계신 분들께 — 앞서 선익시스템에서 긍정적인 공시가 나왔습니다. 3분기 매출은 2026년 2분기보다 훨씬 높을 가능성이 커 보입니다. 당사는 다음 분기 지배주주 귀속 순이익을 100억 원 이상으로 추정하며, 이는 전분기 70억 원(전년 동기 50억 원)과 비교되는 수치입니다. 시가총액 980억 원, 모회사 순현금 203억 원(투자자산 제외, 선익시스템 단의 순현금은 감안하지 않음)에 대비해 보시면 됩니다. https://t.co/biq45jmYCE

[Fairlight Capital @Fairlight_Cap]

$088130 For those following Dong A Eltek or Sunic System, there was a good filing from Sunic earlier. It seems likely Q3 revenues will be much higher that Q2 2026. We would estimate upwards of ₩10 billion attributable income in the next quarter, versus ₩7 billion last quarter (and ₩5 billion for the same period last year). This against a market cap of ₩98 billion, parent net cash of ₩20.3 billion (excluding investments and ignoring net cash at the Sunic level). https://t.co/biq45jmYCE

[Fairlight Capital @Fairlight_Cap]

Rapidly Growing AI Tech Business Below 7× EBITDA Valuation.
Revenue growth emerging from a mature legacy business.

[Fairlight Capital @Fairlight_Cap]

Rapidly Growing AI Tech Business Below 7× EBITDA Valuation.
Revenue growth emerging from a mature legacy business.

[Fairlight Capital @Fairlight_Cap]

For those who are interested, there is a good presentation update here from Sunic System (Dong A Eltek subsidiary). Updated as part of recent investor presentations. $088130 $171090 https://t.co/EtFvYqO2Ay

[Fairlight Capital @Fairlight_Cap]

One other potential piece of icing on the cake is a large Samsung contract for OLEDoS deposition (VR/AR glasses screens). Reports suggest that the award of this contract is between Sunic System (DAE’s 47% subsidiary) and Canon Tokki and could be announced as soon as this month. DAE posses market leading technology in this area and this would be another great contract and extension of an existing relationship if it comes to pass. 5/5

[Fairlight Capital @Fairlight_Cap]

Some thoughts on Dong A Eltek’s (DAE) results from last month $088130. Trying to look forward to the potential revenue in the next few quarters, it is striking how high the contract balances and backlog are at the moment. End of June 2026, the full contract backlog for Sunic System stood at ₩657 billion, versus ₩548 billion at end of Q1 2025. 1/5

[Fairlight Capital @Fairlight_Cap]

This would still leave more than half the backlog remaining, even if we assume that the company doesn’t land a single additional sale. Entering 2027 the company would then be in a very strong position to gain additional sales and have a great momentum into next year. 4/5

[Fairlight Capital @Fairlight_Cap]

Cash-Rich, High-Moat Niche Software Business Trading at 5.8× Earnings

A software business banking cash flow. Automating the most critical operational bottleneck in the global supply chain.

[Fairlight Capital @Fairlight_Cap]

Fairlight Capital Q2 2026 Letter: https://t.co/GrpJ7QKfCe

[PRISM MediaWire @prism_mediawire]

$BOF BranchOut Food (NASDAQ: BOF) posts record $4.5M Q2 revenue as major retail wins, rising production and ingredient growth support a projected $6M–$7M Q4 https://t.co/hHzxLTE10a

[Fairlight Capital @Fairlight_Cap]

The Quickest Path.