<p>[新加坡] 投资者纷纷涌入市值仅为 5000 万新元的鲜为人知的新加坡上市科技微型股，导致一些股票在最近几周飙升至多年高点。</p>
<p>半导体制造商 Asti Holdings 的市值约为 1.5 亿新元，在过去一个月中上涨超过 120%。</p>
<p>Avi-Tech Holdings 的股票，市值刚好低于 5000 万新元，在同一时期上涨了 70%，在 5 月 7 日达到了四年来的最高点 0.3150 新元。</p>
<p>在过去一周，战略投资者增加了对这些股票的持股，推动了股价的上涨。</p>
<p>在 5 月 6 日，Asti 首席执行官 Eddie Ng 以 360 万新元的价格在场外交易中收购了 4000 万股，成为公司的控股股东。</p>
<p>一天后，零售投资者 Global Wave Ventures 披露收购了超过 5000 万股 Avi-Tech，持股比例达 29.9%。</p>
<h3>在新的全球秩序中导航亚洲</h3>
<p>获取洞察信息，直接发送到您的邮箱。</p>
<p>《商业时报》探讨了是什么推动了这些小型科技股的激增，以及这种势头是否能够持续。</p>
<h2>乘着科技反弹的浪潮</h2>
<p>对这些小型股的兴趣正值全球科技反弹的大背景下。</p>
<p>追踪主要全球芯片股票的 iShares 半导体 ETF（交易所交易基金）在 4 月份上涨了 40%，创下了有记录以来的最大月度涨幅。</p>
<p>另见</p>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/129f0013b550c15ec4d9d86c1cb70439373d9aa63d42d823453469e315ba392b/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/129f0013b550c15ec4d9d86c1cb70439373d9aa63d42d823453469e315ba392b/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>新加坡前 100 家 SGX 上市公司女性董事长比例上升至 10%：多样性委员会</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f8864a41cff14445088665c67dab816368cd3f80cf956b38f3ebc7dfb409c074/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f8864a41cff14445088665c67dab816368cd3f80cf956b38f3ebc7dfb409c074/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>这些股票在战略举措后被重新评估。它们能激励其他公司效仿吗？</h3>
<p>这波反弹不仅限于领先的芯片制造商，还扩展到涉及传统芯片和半导体基础设施的小型公司。</p>
<p>分析师指出，许多在新加坡交易所（SGX）上市的半导体和精密工程公司为主要的美国上市科技公司提供供应，导致它们的股价与全球同行和客户的股价同步波动。</p>
<p>例如，精密工程公司 Frencken Group 的股票，自年初以来上涨了约 110%，其客户包括芯片设备制造商 ASML 和 Applied Materials。</p>
<p>同样，Avi-Tech Holdings 的反弹与半导体客户德州仪器的涨幅相一致，后者因数据中心扩张而需求上升，Phillip Securities Research 的研究分析师 Chong Yik Ban 表示。</p>
<p>这波反弹还受到投资者寻找具有追赶潜力的低估科技股的推动。</p>
<p>Azure Capital 的创始人兼首席执行官 Terence Wong 表示，投资者越来越多地转向小型科技股，因为大型基准股票在强劲上涨后变得更加昂贵。</p>
<p>“他们开始寻找那些潜力尚未被发掘，或者尚未上涨太多的股票，” 他说。“这就是为什么你会看到对鲜为人知的名字越来越感兴趣。”</p>
<p>特别是 Asti 因其引人注目的 “扭转” 叙事而吸引了投资者的关注，Phillip 的 Chong 表示。</p>
<p>该公司因持续亏损和治理问题于 2022 年暂停交易，此后已完成几次逾期的股东会议，任命了新的审计师，并改善了财务表现。</p>
<p>它还将其亏损大幅缩减至 2025 财年第四季度的 468,000 新元，而 2024 财年第四季度为 2030 万新元。</p>
<h2>这波反弹能持续多久？</h2>
<p>分析师表示，科技反弹仍有上升空间，Phillips 的 Chong 预计这种势头将持续到今年年底。</p>
<p>他补充说，2026 年下半年美国人工智能公司如 OpenAI 和 Anthropic 的潜在首次公开募股可能为半导体股票提供新的催化剂。</p>
<p>在本地微型股方面，Chong 指出，尽管 Avi-Tech 最近的业绩仍然平平，2026 财年上半年截至 12 月 31 日的毛利润为 70 万新元，净亏损为 100 万新元，但其股票可能会受益于来自主要客户德州仪器的强劲前景信号。</p>
<p>与此同时，Asti 可能会因工业和汽车应用中对集成电路测试的需求扩大而受益，他说。</p>
<p>SGX 市场策略师 Geoff Howie 表示，Avi-Tech 目前的价值在于其净现金头寸和低杠杆，因为该公司选择不支付中期股息以保留资本。</p>
<p>这支持了运营稳定性，并允许重新部署到效率改善和选择性增长领域，他补充道。</p>
<p>对于 Asti Holdings，他将 CEO Ng 的增持描述为在公司以 “重置” 资产负债表和恢复盈利能力的过程中加强控制的一种方式。</p>
<p>然而，他警告说，长期价值将取决于其半导体服务平台的执行和可扩展性。</p>
<p>尽管语气乐观，观察人士警告投资者应保持选择性。</p>
<p>“投资者在交易小型和流动性较低的股票时必须谨慎，检查适当的估值以进入市场，” Chong 说。</p>
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联达科技控股

<p>投资者越来越多地购买不太知名的新加坡上市科技微型股，一些股票如联达科技控股和 Avi-Tech Hldg 的价格出现了显著上涨。联达科技控股的股价在一个月内上涨超过 120%，而 Avi-Tech 的股价上涨了 70%。这一趋势受到战略投资和全球科技反弹的推动，尤其是在半导体股票方面。分析师建议，这一势头可能会继续，主要受到对集成电路测试需求和美国人工智能公司潜在 IPO 的驱动。然而，对于这些交易量较小的股票，投资者应保持谨慎</p>

<p>[SINGAPORE] Investors have been piling into little-known Singapore-listed tech micro-caps worth as little as S$50 million, sending some counters soaring to multi-year highs in recent weeks.</p>
<div class="lb-trans"><p>[新加坡] 投资者纷纷涌入市值仅为 5000 万新元的鲜为人知的新加坡上市科技微型股，导致一些股票在最近几周飙升至多年高点。</p>
</div><p>Semiconductor manufacturer Asti Holdings , which has a market capitalisation of about S$150 million, has surged more than 120 per cent in the past month.</p>
<div class="lb-trans"><p>半导体制造商 Asti Holdings 的市值约为 1.5 亿新元，在过去一个月中上涨超过 120%。</p>
</div><p>Shares of Avi-Tech Holdings , valued at just under S$50 million, climbed 70 per cent over the same period to a four-year high of S$0.3150 onMay 7.</p>
<div class="lb-trans"><p>Avi-Tech Holdings 的股票，市值刚好低于 5000 万新元，在同一时期上涨了 70%，在 5 月 7 日达到了四年来的最高点 0.3150 新元。</p>
</div><p>The rallies gathered pace after strategic investors increased their stakes in these counters in the past week.</p>
<div class="lb-trans"><p>在过去一周，战略投资者增加了对这些股票的持股，推动了股价的上涨。</p>
</div><p>On May 6, Asti chief executive Eddie Ng acquired 40 million shares for S$3.6 million in an off-market transaction, becoming the company’s controlling shareholder.</p>
<div class="lb-trans"><p>在 5 月 6 日，Asti 首席执行官 Eddie Ng 以 360 万新元的价格在场外交易中收购了 4000 万股，成为公司的控股股东。</p>
</div><p>A day later, retail investor Global Wave Ventures disclosed the acquisition of more than 50 million shares in Avi-Tech, giving it a 29.9 per cent stake.</p>
<div class="lb-trans"><p>一天后，零售投资者 Global Wave Ventures 披露收购了超过 5000 万股 Avi-Tech，持股比例达 29.9%。</p>
</div><h3>Navigate Asia in  a new global order</h3>
<div class="lb-trans"><h3>在新的全球秩序中导航亚洲</h3>
</div><p>Get the insights delivered to your inbox.</p>
<div class="lb-trans"><p>获取洞察信息，直接发送到您的邮箱。</p>
</div><p><em>The Business Times</em> looks at what is fuelling the surge in these tiny tech counters, and whether the momentum can last.</p>
<div class="lb-trans"><p>《商业时报》探讨了是什么推动了这些小型科技股的激增，以及这种势头是否能够持续。</p>
</div><h2>Riding the tech rally</h2>
<div class="lb-trans"><h2>乘着科技反弹的浪潮</h2>
</div><p>Interest in these smaller-cap stocks comes amid a broader global tech rally.</p>
<div class="lb-trans"><p>对这些小型股的兴趣正值全球科技反弹的大背景下。</p>
</div><p>The iShares Semiconductor ETF (exchange-traded fund), which tracks major global chip stocks, surged 40 per cent in April, marking its biggest monthly gain on record.</p>
<div class="lb-trans"><p>追踪主要全球芯片股票的 iShares 半导体 ETF（交易所交易基金）在 4 月份上涨了 40%，创下了有记录以来的最大月度涨幅。</p>
</div><p>SEE ALSO</p>
<div class="lb-trans"><p>另见</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/129f0013b550c15ec4d9d86c1cb70439373d9aa63d42d823453469e315ba392b/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/129f0013b550c15ec4d9d86c1cb70439373d9aa63d42d823453469e315ba392b?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Share of female board chairs at top 100 SGX listcos edges up to 10%: diversity council</h3>
<div class="lb-trans"><h3>新加坡前 100 家 SGX 上市公司女性董事长比例上升至 10%：多样性委员会</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/f8864a41cff14445088665c67dab816368cd3f80cf956b38f3ebc7dfb409c074/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/f8864a41cff14445088665c67dab816368cd3f80cf956b38f3ebc7dfb409c074?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>These stocks rerated after strategic moves. Can they inspire others to do the same?</h3>
<div class="lb-trans"><h3>这些股票在战略举措后被重新评估。它们能激励其他公司效仿吗？</h3>
</div><p>The rally extended beyond leading chipmakers to smaller firms involved in legacy chips and semiconductor infrastructure.</p>
<div class="lb-trans"><p>这波反弹不仅限于领先的芯片制造商，还扩展到涉及传统芯片和半导体基础设施的小型公司。</p>
</div><p>Analysts noted that many semiconductor and precision-engineering firms listed on the Singapore Exchange (SGX) supply major US-listed technology companies, causing their share prices to move in tandem with those of global peers and customers.</p>
<div class="lb-trans"><p>分析师指出，许多在新加坡交易所（SGX）上市的半导体和精密工程公司为主要的美国上市科技公司提供供应，导致它们的股价与全球同行和客户的股价同步波动。</p>
</div><p>For instance, the shares of precision-engineering firm Frencken Group , whose customers include chip-equipment makers ASML and Applied Materials, have risen about 110 per cent since the start of the year.</p>
<div class="lb-trans"><p>例如，精密工程公司 Frencken Group 的股票，自年初以来上涨了约 110%，其客户包括芯片设备制造商 ASML 和 Applied Materials。</p>
</div><p>Likewise, the rally in Avi-Tech Holdings has tracked gains in semiconductor customer Texas Instruments amid rising demand linked to data-centre expansion, said Chong Yik Ban, research analyst at Phillip Securities Research.</p>
<div class="lb-trans"><p>同样，Avi-Tech Holdings 的反弹与半导体客户德州仪器的涨幅相一致，后者因数据中心扩张而需求上升，Phillip Securities Research 的研究分析师 Chong Yik Ban 表示。</p>
</div><p>The rally is also being driven by investors hunting for lower-valued tech stocks with catch-up potential.</p>
<div class="lb-trans"><p>这波反弹还受到投资者寻找具有追赶潜力的低估科技股的推动。</p>
</div><p>Terence Wong, founder and chief executive of Azure Capital, said investors are increasingly rotating into smaller tech counters, with larger bellwether stocks having become more expensive following strong gains.</p>
<div class="lb-trans"><p>Azure Capital 的创始人兼首席执行官 Terence Wong 表示，投资者越来越多地转向小型科技股，因为大型基准股票在强劲上涨后变得更加昂贵。</p>
</div><p>“They are starting to look for stocks with potential which have not yet risen, or have not risen as much,” he said. “That is why you are seeing growing interest in lesser-known names.”</p>
<div class="lb-trans"><p>“他们开始寻找那些潜力尚未被发掘，或者尚未上涨太多的股票，” 他说。“这就是为什么你会看到对鲜为人知的名字越来越感兴趣。”</p>
</div><p>Asti, in particular, has attracted investor interest due to its compelling “turnaround” narrative, said Phillip’s Chong.</p>
<div class="lb-trans"><p>特别是 Asti 因其引人注目的 “扭转” 叙事而吸引了投资者的关注，Phillip 的 Chong 表示。</p>
</div><p>The company, which was suspended from trading in 2022 due to persistent losses and governance issues, has since completed several overdue shareholder meetings, appointed new auditors and improved its financial performance.</p>
<div class="lb-trans"><p>该公司因持续亏损和治理问题于 2022 年暂停交易，此后已完成几次逾期的股东会议，任命了新的审计师，并改善了财务表现。</p>
</div><p>It also narrowed its losses sharply to S$468,000 in Q4 FY2025, from S$20.3 million in Q4 FY2024.</p>
<div class="lb-trans"><p>它还将其亏损大幅缩减至 2025 财年第四季度的 468,000 新元，而 2024 财年第四季度为 2030 万新元。</p>
</div><h2>How long will the rally last?</h2>
<div class="lb-trans"><h2>这波反弹能持续多久？</h2>
</div><p>Analysts say the tech rally still has room to run, with Phillips’ Chong expecting momentum to persist through the end of this year.</p>
<div class="lb-trans"><p>分析师表示，科技反弹仍有上升空间，Phillips 的 Chong 预计这种势头将持续到今年年底。</p>
</div><p>He added that potential initial public offerings from US AI firms such as OpenAI and Anthropic in the second half of 2026 could provide fresh catalysts for semiconductor stocks.</p>
<div class="lb-trans"><p>他补充说，2026 年下半年美国人工智能公司如 OpenAI 和 Anthropic 的潜在首次公开募股可能为半导体股票提供新的催化剂。</p>
</div><p>On local micro-caps, Chong noted that while Avi-Tech’s recent results remain lacklustre, with gross profit of S$700,000 and a net loss of S$1 million for H1 FY2026 ended Dec 31, its shares could benefit from stronger outlook signals from key customer Texas Instruments in the coming quarters.</p>
<div class="lb-trans"><p>在本地微型股方面，Chong 指出，尽管 Avi-Tech 最近的业绩仍然平平，2026 财年上半年截至 12 月 31 日的毛利润为 70 万新元，净亏损为 100 万新元，但其股票可能会受益于来自主要客户德州仪器的强劲前景信号。</p>
</div><p>Asti, meanwhile, could gain from expanding demand for integrated circuit testing in industrial and automotive applications, he said.</p>
<div class="lb-trans"><p>与此同时，Asti 可能会因工业和汽车应用中对集成电路测试的需求扩大而受益，他说。</p>
</div><p>SGX market strategist Geoff Howie said Avi-Tech’s value now sits in a net cash position and low leverage, after the company opted not to pay an interim dividend to preserve capital.</p>
<div class="lb-trans"><p>SGX 市场策略师 Geoff Howie 表示，Avi-Tech 目前的价值在于其净现金头寸和低杠杆，因为该公司选择不支付中期股息以保留资本。</p>
</div><p>This supports operational stability and allows redeployment into efficiency improvements and selective growth areas, he added.</p>
<div class="lb-trans"><p>这支持了运营稳定性，并允许重新部署到效率改善和选择性增长领域，他补充道。</p>
</div><p>For Asti Holdings, he described CEO Ng’s increased stake as a way to strengthen control as the company emerges with a “reset” balance sheet and a return to profitability.</p>
<div class="lb-trans"><p>对于 Asti Holdings，他将 CEO Ng 的增持描述为在公司以 “重置” 资产负债表和恢复盈利能力的过程中加强控制的一种方式。</p>
</div><p>However, he cautioned that long-term value would depend on execution and scalability of its semiconductor services platform.</p>
<div class="lb-trans"><p>然而，他警告说，长期价值将取决于其半导体服务平台的执行和可扩展性。</p>
</div><p>Despite the upbeat tone, observers warned that investors should remain selective.</p>
<div class="lb-trans"><p>尽管语气乐观，观察人士警告投资者应保持选择性。</p>
</div><p>“Investors have to practise caution in trading smaller and thinly traded counters, by checking on the appropriate valuations to enter the market,” Chong said.</p>
<div class="lb-trans"><p>“投资者在交易小型和流动性较低的股票时必须谨慎，检查适当的估值以进入市场，” Chong 说。</p>
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<div class="lb-trans"><p>解码亚洲通讯：您在新的全球秩序中导航亚洲的指南。点击此处注册以获取解码亚洲通讯，直接发送到您的邮箱，免费。</p>
</div>

These little-known SGX tech stocks are beating the market. What’s driving them up?

Businesstimes News

Avi-Tech Hldg

费城交易所 半导体 ETF - iShares

福根集团

阿斯麦

ASML Holding NV

应用材料

德州仪器

OpenAI

这些鲜为人知的 SGX 科技股正在跑赢市场。是什么因素推动它们上涨？