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On September 18th, according to data from the third-party travel platform "Flight Manager," the civil aviation industry is expected to operate a total of 219,000 passenger flights during the Mid-Autumn Festival and National Day holiday in 2026 (September 25th to October 7th), averaging over 16,800 flights per day, a year-on-year increase of 2%. Airfares have also risen. According to Flight Managers booking data, as of September 17th, the average booked price for domestic economy class tickets during the 2026 National Day holiday is approximately 973.7 yuan, a year-on-year increase of 9%. Looking at price trends, the long holiday has accelerated travel, with peak passenger flows relatively dispersed, and some routes still offering price advantages during the holiday. The official direct sales platform of TravelSky shows that, as of now, routes such as Beijing to Taiyuan, Hulunbuir, Changchun, and Lanzhou; Shanghai to Qingdao, Shijiazhuang, Wuhan, Changsha, and Chengdu; and Guangzhou to Zhanjiang, Jieyang, Fuzhou, Changsha, Qionghai, and Sanya all have tickets available for around 300 yuan during the National Day holiday. The extended holiday has also further fueled the outbound tourism market. This years National Day and Mid-Autumn Festival holidays saw a surge in cross-border travel demand across various destinations, with both long-distance and short-distance destinations experiencing a rise in popularity.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which includes implementing an RV consumption promotion campaign. The measures encourage eligible regions to improve their RV consumption promotion policies, promote new RV lifestyles, cultivate an RV consumption culture, and raise the level of RV consumption. Regions with car purchase restrictions are encouraged to optimize RV management measures, shifting from purchase management to usage management. Pilot cities for automobile circulation and consumption reform are supported in including RV consumption promotion as a reform task, and pilot cities for new consumption formats, models, and scenarios are encouraged to include eligible RV campsites and other consumption scenarios in their support scope. Support is given to including RV campsites in tourism promotion activities, promoting coordinated discounts between campsite consumption and surrounding consumption formats. RV-friendly destinations will be launched in batches.On September 18th, ten departments, including the Ministry of Culture and Tourism and the National Development and Reform Commission, issued "Several Measures to Promote RV Consumption," which mentions strengthening the supply and management services of RV tourism products. It guides eligible regions to integrate cultural and tourism resources to create a number of distinctive RV tourism routes. It encourages tourism enterprises to integrate resources related to RV sales, rentals, and travel to launch customized tourism products and cultivate and expand the RV consumption market. It also promotes the development of high-quality self-driving tourism roads, with parking areas and viewing platforms along the routes taking into account the parking needs of RVs. Furthermore, it regulates RV camping behavior, addressing issues such as illegal use of open flames, illegal parking, unauthorized construction, illegal connections to water and electricity, littering, and damage to public facilities and green spaces, while advocating for Leave No Trace camping.According to South Korean media reports, South Korea has secured 70% of its crude oil supply for November and has secured more than 90% of its crude oil supply for September and October.EDF (Électricité de France) plans to build 10 small modular reactors (SMRs) for nuclear power generation in Europe by 2035, a project worth tens of billions of euros. One SMR is planned for Italy, with a target completion date of 2035.

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%.