Palatin Technologies Inc 2024年度报告

TwS headsets, speakerphones, wearables, and smart loT devices, The companyEric Chen, CFA - NITBsic.chsm@ncmurs.ccm)+886(2) 21769965Read-across for the fabless sector: intelliGo is cne of very few edge Alsemiconductor fabless/IP companies listed in Asia with key funders frorn MediaTekTwS headsets, speakerphones, wearables, and smart loT devices, The companyEric Chen, CFA - NITBsic.chsm@ncmurs.ccm)+886(2) 21769965Read-across for the fabless sector: intelliGo is cne of very few edge Alsemiconductor fabless/IP companies listed in Asia with key funders frorn MediaTek edge devices. Also, il provides tailor-made solutions lo fine-tune models/parametersBusiness model: intelliGo mainly provides IPs licensing (100% GM), but it could alsooffer tailored AI Edge ASIC solutions (lower GM, ~70%) as required by customers (edge devices. Also, il provides tailor-made solutions lo fine-tune models/parametersBusiness model: intelliGo mainly provides IPs licensing (100% GM), but it could alsooffer tailored AI Edge ASIC solutions (lower GM, ~70%) as required by customers ( Fig. 4: Key requirements for Human-Machine InterfaceMainProduct CategoriesKeyRequirementsforHMlJsdkehnumdarkesIntelligo Voice Al:The Core Engine of Edge HiMiSouns: Demewry dux, Nuaura reaigrshFig. 4: Key requirements for Human-Machine InterfaceMainProduct CategoriesKeyRequirementsforHMlJsdkehnumdarkesIntelligo Voice Al:The Core Engine of Edge HiMiSouns: Demewry dux, Nuaura reaigrsh This report has becn produced by Nomura Irternational (Hong Kong) Ltd., Taipci Branch (NIT3), Taivan.This report has becn produced by Nomura Irternational (Hong Kong) Ltd., Taipci Branch (NIT3), Taivan. We, Aeron Jeng. Donnie Teng, VMien Yang ancl Eric Chen, hereby certy (1 thet the views expressecd in this Research report accuretely refiectour parsonal views about any or ll of the subject Becurities or issuers refered to in this Research regort, (2) no part of our compensstion waB,We, Aeron Jeng. Donnie Teng, VMien Yang ancl Eric Chen, hereby certy (1 thet the views expressecd in this Research report accuretely refiectour parsonal views about any or ll of the subject Becurities or issuers refered to in this Research regort, (2) no part of our compensstion waB, is or will be directly or incirectly related to the specific recommendations or views expressed in this Resesrch report and (3) nc psrt of oulis or will be directly or incirectly related to the specific recommendations or views expressed in this Resesrch report and (3) nc psrt of oul Online availlability of research and conflict-of-interest disclosuresOnline availlability of research and conflict-of-interest disclosures Nomura Group research is avalable: an www.namuransw.com/resaarch, Bloomterg, Capital IQ, Factsst, LSEGImpartant disdosures may be read at htip-iga.nanuransw.com/researchim/Disclosures or requested from Nomura Securities International, Inc.Nomura Group research is avalable: an www.namuransw.com/resaarch, Bloomterg, Capital IQ, Factsst, LSEGImpartant disdosures may be read at htip-iga.nanuransw.com/researchim/Disclosures or requested from Nomura Securities International, Inc. If ypu have any dificutes with the website, please emai grnsilapar@romura.com for help.The analysts responsible for preparing this repcrt have received compensation based upon various factors including the fimm's total revenues, aIf ypu have any dificutes with the website, please emai grnsilapar@romura.com for help.The analysts responsible for preparing this repcrt have received compensation based upon various factors including the fimm's total revenues, a portinn of wnich is generated by Investment Banking activities. Unless otherwise nated, the non-US analysts Isted at the front of this report arenot registerediquaified as research analysts unter FINRA rulss. Tray not ba assbciated persons af NSl, and may nat bre subject to FINRA Ruleportinn of wnich is generated by Investment Banking activities. Unless otherwise nated, the non-US analysts Isted at the front of this report arenot registerediquaified as research analysts unter FINRA rulss. Tray not ba assbciated persons af NSl, and may nat bre subject to FINRA Rule the analyst expects the sector to underperform the Benchmark during the nsxt 12 months. Sectors that are labolled as *Not rated or shown asMarkets (ex-Asia): MSCI Emergirg Marknts ex-Asia. Japan/Asia ex-Japan: Sector ratings are nat assignad.A Target Price, if ciscussed, indicates the analyst's farecast for tre share price vith a 12-month time hcrizan, reflecting in pari the: analyst'sestimates for the campany's zamings. The achievement af any target price mray be impeded by general rarket and macrceoaraic trerds, andby pther risks related to the compary or the market, and may rot occur if the company's camings differ from cstimatcs.This publication contains material that has been prepared by the Namura Group entity itentified on page: 1 and, if aplicable, with thecontributisns cf cne or Tore Nomurs Graup entitins whps