Good Morning! 6/12 Foreign Media Summary - 4958 Zhen Ding Technology (ZDT): U.S. Brokerage Raises Target Price A major U.S. brokerage's global team has significantly raised its 2026-2028 optical transceiver shipment forecasts from 53/71/80 million units to 73/141/150 million units. Among these, 1.6T volumes are 29/79/87 million units, with 3.2T expected to contribute 8 million units starting the year after next. Brokerages estimate a 83% CAGR for the optical transceiver PCB market from 2025-2028. As data transmission speeds increase, mSAP process capability becomes particularly critical and is considered an ideal technology for optical transceivers. Brokerages identify capable suppliers as 4958 Zhen Ding Technology, 2313 Compeq, and 3037 Unimicron. The brokerage particularly views Zhen Ding as the primary beneficiary. Additionally, it is expanding its ABF customer base, including Google TPU. The brokerage has raised its 2026-2028 EPS estimates to NT$14.5 / NT$24.2 / NT$33.4 and, applying a 27.5x PE multiple on next year's earnings, has simultaneously raised the target price. - 3037 Unimicron: U.S. Brokerage Raises Target Price Following the above observations, the major U.S. brokerage notes that Unimicron is one of the suppliers benefiting from growing optical transceiver demand. It also expects ABF supply to return to a shortage starting next year, with a persistent 5-10% supply gap through 2030. T-Glass supply shortages will be a key focus, leading suppliers to prioritize high-end products. The brokerage has raised its 2026-2028 EPS estimates to NT$11.8 / NT$25.3 / NT$51 and, applying a 51x PE multiple on next year's earnings, has simultaneously raised the target price.