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On January 19th, according to Qichacha APP, Beijing Manifold Space Technology Co., Ltd. recently underwent industrial and commercial registration changes, adding Shenzhen Hubble Technology Investment Partnership (Limited Partnership), a subsidiary of Huawei, as a shareholder. Simultaneously, its registered capital increased to approximately 2.524 million RMB. Qichacha information shows that the company was established in May 2025, with Wu Wei as its legal representative. Its business scope includes the development of basic artificial intelligence software, the development of artificial intelligence application software, and information technology consulting services. Public information indicates that Manifold Space is a company focusing on world models and embodied intelligence.On January 19th, Hongbai New Materials announced that it expects to achieve a net profit attributable to owners of the parent company of -150 million yuan to -110 million yuan in 2025. It also expects to achieve a net profit attributable to owners of the parent company after deducting non-recurring gains and losses of -165 million yuan to -120 million yuan in 2025. The main reasons for the companys poor operating performance during the reporting period are as follows: First, the imbalance between supply and demand in the upstream and downstream of the industry has not improved, and industry competition remains fierce. Although the sales volume of the companys main products has achieved steady year-on-year growth, product sales prices are still at historically low levels. Second, construction in progress was transferred to fixed assets during the period, increasing depreciation and operating costs. Third, related expenses increased during the period, including share-based payment expenses accrued for the implementation of the equity incentive plan and an increase in convertible bond interest accrued compared to the same period last year.The onshore yuan closed at 6.9636 against the US dollar at 16:30 on January 19, up 54 points from the previous trading day.Following the latest tariff threats from the United States, European luxury goods stocks fell 3%, marking their sixth consecutive day of decline and a cumulative drop of 7.3% over the past three days.Ukraines power company DTEK: Its energy facilities in Odessa were "severely" damaged in a Russian nighttime attack.

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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