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February 14th - According to data from the official website of the Beijing Municipal Commission of Housing and Urban-Rural Development, on February 13th, 85 new homes were registered online in Beijing, with a total area of 10,855.75 square meters, including 43 residential units with a total area of 5,395.44 square meters; 220 existing homes were registered online, with a total area of 19,413.37 square meters, including 195 residential units with a total area of 18,062.41 square meters.February 14th - Today marks the 13th day of the Spring Festival travel rush, with passenger traffic remaining high across the country. The national railway system is expected to transport 15.35 million passengers today. Highway traffic continues to increase, with heavy traffic anticipated in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Pearl River Delta, and the Chengdu-Chongqing area. In the civil aviation sector, 2.45 million passengers are expected to be transported today.On February 14th, Faraday Future announced that its Extraordinary General Meeting of Shareholders, scheduled for February 13th, 2026 (Pacific Time), has completed the review and approval of relevant resolutions. At this meeting, shareholders approved a proposal to increase the number of authorized shares. This proposal only involves an increase in the authorized share reserve and will not immediately increase the actual number of shares issued. Simultaneously, the company launched its first series of embodied intelligent robots and opened non-refundable, non-binding pre-orders, with the first deliveries expected by the end of this month. Regarding its robotics business, the company is advancing key tasks such as mass production preparation, customized development, testing and verification, and AI data training, continuously driving the dual-engine growth curve of its two core product categories—EAI vehicles and robots.On February 14th, the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the "Opinions on Coordinating the Establishment of a Regular Financial Support Mechanism to Help Prevent Poverty and Promote Rural Revitalization." The Opinions emphasize strengthening financial resource investment in key areas, improving financial services for grain and oil production, and supporting the improvement of comprehensive agricultural production capacity and quality. It also calls for developing supply chain financial service scenarios such as accounts receivable financing to ensure the financial needs of the entire agricultural industry chain and expand the financial supply for county-level industries that benefit farmers. Furthermore, it emphasizes increasing medium- and long-term investment in rural infrastructure construction and supporting the integrated development of agriculture, culture, and tourism. The Opinions also stress strengthening financial service capacity building and improving the financial organization system. Finally, it calls for deepening the implementation of the demonstration project of financial technology empowering rural revitalization, promoting the popularization and application of emerging payment methods such as mobile payment, and continuing the evaluation of "credit users, credit villages, credit townships" and new agricultural business entities to solidify basic rural financial services.On February 14th, the Peoples Bank of China, the State Financial Regulatory Commission, the China Securities Regulatory Commission, and the Ministry of Agriculture and Rural Affairs jointly issued the "Opinions on Coordinating the Establishment of a Regular Financial Support Mechanism to Help Prevent Poverty and Promote Rural Revitalization." The Opinions require strengthening the synergy of multiple financial sectors, leveraging the financing function of the bond market, and encouraging financial institutions, especially local legal entity financial institutions in underdeveloped areas, to issue special financial bonds for micro, small and medium-sized enterprises (MSMEs) and agriculture. It also calls for building a comprehensive capital market support system and continuing the "green channel" policy for enterprise listing. Furthermore, it emphasizes the innovative development of insurance products and services. The Opinions stress strengthening policy guarantees and implementation, fully leveraging the incentive role of monetary and credit policies, and guiding financial institutions to continuously increase credit resources for rural revitalization, especially for those preventing poverty and those in underdeveloped areas. Finally, it calls for establishing and improving a regular statistical and dynamic monitoring mechanism for the effectiveness of financial assistance policies, and regularly tracking and analyzing the implementation results.

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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