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On February 9th, the China Passenger Car Association (CPCA) released a report stating that in 2026, the penetration rate of new energy vehicles in light commercial vehicles will continue to increase, with the overall penetration rate expected to reach 43%, including 34% for light trucks, 32% for mini-trucks, and 75% for light buses. The light commercial vehicle market in 2026 is expected to remain generally stable amidst structural adjustments, entering a new phase dominated by existing market share. Sales are expected to remain within a specific range, with growth primarily driven by the deepening of new energy transformation and expansion into overseas markets. Under the guidance of high-quality development, new energy penetration continues to accelerate, with overseas exports becoming a key pillar, and technological competition focusing on intelligentization. In 2025, light commercial vehicle sales reached 2.901 million units, a year-on-year increase of 6.5%. In 2026, sales are expected to increase slightly by 0.3%, reaching approximately 2.911 million units for the year.ECB Governing Council member Simkus: The economic environment is extremely fragile.ECB Governing Council member Simkus: Interest rates are at a neutral level, and economic growth is close to its potential level.February 9th - Analysts point out that gold prices rebounded above $5,000 per ounce, influenced by a weaker dollar and traders awaiting key US data releases later this week. ANZ analysts stated, "Investors have reaffirmed their long-term bullish view on precious metals." Research data shows that despite recent sell-offs, large institutional investors remain optimistic about gold, a view echoed by the Peoples Bank of China, which increased its gold holdings for the 15th consecutive month in January. Traders are currently awaiting US non-farm payroll data and the Consumer Price Index for further clues regarding the path of interest rate cuts.February 9th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. International copper futures warehouse receipts: 12,564 tons, a decrease of 103 tons from the previous trading day; 2. Alumina futures warehouse receipts: 242,626 tons, an increase of 242,626 tons from the previous trading day; 3. Low-sulfur fuel oil warehouse futures warehouse receipts: 23,140 tons, unchanged from the previous trading day; 4. Zinc futures warehouse receipts: 31,264 tons, an increase of 176 tons from the previous trading day; 5. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 6. Stainless steel warehouse futures warehouse receipts: 53,463 tons, an increase of 5,723 tons from the previous trading day; 7. Lead futures warehouse receipts: 40,773 tons, an increase of 4,968 tons from the previous trading day; 8. Pulp warehouse futures warehouse receipts: 131,447 tons, unchanged from the previous trading day; 9. 10. Pulp mill futures warehouse receipts: 15,000 tons, unchanged from the previous trading day; 112,570 tons of natural rubber futures warehouse receipts, an increase of 500 tons from the previous trading day; 243,776 tons of hot-rolled coil futures warehouse receipts, an increase of 23,197 tons from the previous trading day; 6,337 tons of tin futures warehouse receipts, a decrease of 379 tons from the previous trading day; 51,004 tons of TSR20 rubber futures warehouse receipts, unchanged from the previous trading day; 318,546 kg of silver futures warehouse receipts, a decrease of 31,354 kg from the previous trading day; 104,052 kg of gold futures warehouse receipts, unchanged from the previous trading day; 32,270 tons of butadiene rubber futures warehouse receipts, an increase of 32,270 tons from the previous trading day; 17. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 18. Petroleum asphalt plant warehouse futures warehouse receipts: 26,490 tons, unchanged from the previous trading day; 19. Petroleum asphalt warehouse futures warehouse receipts: 13,580 tons, unchanged from the previous trading day; 20. Aluminum futures warehouse receipts: 164,512 tons, an increase of 8,979 tons from the previous trading day; 21. Nickel futures warehouse receipts: 51,721 tons, an increase of 447 tons from the previous trading day; 22. Rebar warehouse futures warehouse receipts: 15,710 tons, a decrease of 305 tons from the previous trading day; 23. Copper futures warehouse receipts: 157,128 tons, a decrease of 3,044 tons from the previous trading day.

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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