1. What Happened? Baring Asset Management Reduces TCK Stake from 6.73% to 6.55%

On August 8, 2025, Baring Asset Management sold 18,533 shares of TCK due to changes in the scope of related parties. This resulted in a slight decrease in Baring Asset Management’s stake in TCK from 6.73% to 6.55%. The selling period lasted approximately 10 days, from July 8th to 16th.

2. Why the Stake Sale? Regulatory Compliance and Portfolio Rebalancing

Baring Asset Management stated that the reason for the stake change was ‘disclosure obligation due to changes in the scope of related parties.’ This suggests the sale was likely driven by internal regulatory compliance and portfolio rebalancing, rather than changes in the macro environment or a negative outlook on TCK’s fundamentals. The scale of the sale is also insignificant compared to TCK’s total outstanding shares.

3. How Are TCK’s Fundamentals? Solid Growth Expected to Continue

TCK recorded strong earnings in the first quarter of 2025 and is expected to continue its positive growth trajectory based on its solid fundamentals. In particular, the high growth of the Solid SiC segment and continuous R&D achievements raise expectations for future earnings growth. However, potential risk factors such as exchange rate volatility, dependence on raw material supply, and increased competition require continuous monitoring.

  • Strengths: High growth in the Solid SiC segment, R&D achievements, high operating rate, stable financial structure
  • Weaknesses: Exchange rate volatility, dependence on raw materials, potential for increased competition, decreasing R&D expenditure ratio, burden of facility investment

4. What Should Investors Do? Focus on Fundamentals and Industry Trends

This stake change by Baring Asset Management suggests that investors should focus on TCK’s fundamentals and semiconductor industry trends rather than short-term stock price fluctuations. TCK’s growth potential and positive investment outlook remain valid, and it is crucial to develop an investment strategy from a long-term perspective.