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On April 28, the reporter learned that the China Securities Association is soliciting opinions from the industry on the "Guidelines for the Management of Investment Behavior of Directors, Supervisors, Senior Managers and Securities Practitioners of Securities Companies (Trial) (Draft for Comments)". The comments require that securities companies fully cover personnel management and behavior management, strengthen the management of key position personnel, and require securities companies to optimize resource allocation and strengthen the investment behavior management of key position personnel. By taking measures such as increasing the frequency of declarations, strengthening transaction behavior monitoring, including in the key verification list, and increasing the frequency of inspections, the pertinence and effectiveness of investment behavior management will be improved. It is reported that this move is mainly to prevent practitioners from illegal investment behaviors such as illegal stock trading, insider trading, trading using undisclosed information, market manipulation, conflicts of interest and interest transfer, protect the legitimate rights and interests of investors, and maintain the order of the securities market.According to Hong Kong Stock Exchange documents: SERES Group Co., Ltd. submitted an IPO application to the Hong Kong Stock Exchange.April 28th news: On April 28th local time, Russian President’s Press Secretary Peskov said that there is currently no new call arrangement between Russian President Putin and US President Trump, but emphasized that "if necessary, they can quickly coordinate and organize dialogue."Tesla (TSLA.O) rose 2.4% in premarket trading after closing up 9.8% in the previous session.Russian President Vladimir Putin issued a written statement on the 28th, thanking the North Korean soldiers for assisting the Russian army in retaking Russias Kursk Oblast.

Samsung Elec announces a higher Q2 profit owing to solid server-chip demand

Charlie Brooks

Jul 07, 2022 11:18


Samsung Electronics (OTC:SSNLF) Co Ltd announced its greatest April-through-June profit since 2018 with an 11 percent year-over-year gain, as demand for its memory chips from server customers more than offset decreased sales to smartphone manufacturers due to inflation.


The world's leading memory chip and smartphone manufacturer stated Thursday that its second-quarter operating profit grew to 14 trillion won ($10.73 billion) from 12.57 trillion won a year earlier.


It was quite close to Refinitiv's SmartEstimate of 14,45 trillion won.


In agreement with market estimates, Samsung (KS:005930) announced in a short earnings report that sales likely climbed by 21 percent year-over-year to 77 trillion won.


This month, Samsung will provide detailed financial results.


Large U.S. IT companies that rely heavily on data center services continued to acquire chips to meet cloud demand, insulating Samsung's chip revenue from a potential client oversupply after two years of high demand.


According to the data source TrendForce, the price of some DRAM chips, which are utilized in electronic devices and servers, decreased by around 12 percent last month compared to the same time period one year prior. As demand for smartphones and laptops decreases, analysts believe that prices will continue to fall.


"Server DRAM is currently the only feasible sales channel... As a result, Korean manufacturers were the first to signal a willingness to contemplate a quarterly price cut of more than 5 percent (for server goods) "DRAMS," according to TrendForce.


According to TrendForce, the costs of NAND Flash chips, which are used in electronic devices for data storage, are projected to decline by as much as 5 percent between July and September compared to the previous quarter.


Following two profitable pandemic years in which customers purchased devices for remote work, chipmakers throughout the globe are observing a fall in demand.


According to analysts, rising prices, worries of a dramatic market collapse, the Ukraine war, and China's COVID-19 lockdowns have hampered smartphone sales, leaving server chip demand as the only bright light.


During morning trade, the price of Samsung's stock jumped by 0.9%.


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