Morgan Stanley Upgrades BorgWarner to Overweight, Lifts Target to $95

Dechang Shares disclosed at its 2026 semi-annual results briefing that first-half operating revenue reached 2.31 billion yuan, up 11.7% year on year, while net profit attributable to shareholders of the listed company was 33.5884 million yuan, down 69.67% year on year. Revenue in both of the company's main business segments maintained growth, with auto parts revenue at 337 million yuan, up 19.93% year on year, and home appliance revenue at 1.973 billion yuan, up 13.20% year on year. The sharp decline in net profit was mainly affected by exchange rate fluctuations, with an exchange loss of 56.5935 million yuan in the reporting period, compared with an exchange gain of 9.2783 million yuan in the same period last year, while a year-on-year decline in the main business gross margin also squeezed profit margins. The company said its automotive motor business added five new designated projects during the period, with a full life-cycle value exceeding 800 million yuan. Domestic steer-by-wire motors have entered mass production, motors supporting overseas autonomous driving projects have been delivered, and multiple new intelligent chassis products are under development. Some models of robot dexterous hand joint motors have completed verification, preliminary finalization, and achieved small-batch delivery. The private placement registration approval has been obtained for nearly a year, and the company said the project has already been started with self-owned funds and will be advanced at an appropriate time within the validity period of the approval.

Infineon Technologies Manufacturing (Thailand) opened a new plant in Samut Prakan province on October 1, 2026, with Prime Minister Anutin Charnvirakul presiding over the ceremony, joined by Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas. The plant received investment promotion from the BOI with an investment value of over 48 billion baht, covering the production of power control chip systems, integrated circuit and wafer testing, as well as research and development of semiconductor products. The plant is Infineon's third power control chip system production base, following Germany and China, starting with phase 1 and with plans to expand up to 5 phases. If all 5 phases are completed, it will be Infineon's largest assembly and testing production base in the world, with a total cleanroom area of 150,000 square meters, roughly twice the size of the company's current largest plant. Infineon plans to employ more than 5,000 Thai personnel in total, or approximately 1,000 people per phase, while the BOI has set conditions requiring the development of more than 600 Thai personnel in science and technology and the sending of more than 130 Thai personnel for specialized technology training abroad.

Vishay Intertechnology introduced four new power modules featuring 650 V superjunction MOSFETs in the industry-standard SOT-227 package. The Vishay Semiconductors VS-FC50SA65, VS-FC100SA65, VS-FC150SA65, and VS-FC50LA65 are designed to deliver an optimized balance between conduction and switching losses for high efficiency power conversion in industrial applications. Three of the devices are in a single-switch configuration with nominal current ratings of 50 A, 100 A, and 150 A, while the fourth is a 50 A device in a low side chopper configuration that integrates a 650 V SiC diode. All four leverage the latest 650 V superjunction MOSFET technology to achieve a competitive tradeoff between on-resistance and gate charge, and they operate over a temperature range of -55 °C to +150 °C. The SOT-227 package provides a drop-in replacement for competing solutions, lowering costs by eliminating the need for PCB redesigns, and sample and production quantities are available now with lead times of 12 weeks.

Infineon Technologies AG officially inaugurated its new backend manufacturing site in Bangkok, Samut Prakan, together with Anutin Charnvirakul, Prime Minister of Thailand, and Alexander Gorski, Chief Operations Officer of Infineon Technologies. The greenfield facility is built for phased expansion and can scale up to five modules, giving Bangkok the potential to become one of Infineon's largest backend manufacturing sites over time; it currently employs around 350 people and is expected to grow to approximately 1,000 employees as the first building, Module A, ramps up. The site covers the full spectrum of semiconductor backend processes as well as wafer test, complementing the ongoing expansion of Infineon's frontend manufacturing capacities and serving automotive, industrial and energy infrastructure applications. The Bangkok site runs on 100 percent green electricity and incorporates water recycling, rainwater collection and on-site solar modules. Infineon had around 57,000 employees worldwide at the end of September 2025 and generated revenue of about €14.7 billion in its 2025 fiscal year.