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French Automotive Platform (PFA): New car registrations in France in March increased by 12.86% year-on-year, reaching 173,633 vehicles.April 1st - Starting April 1st, 2026, my country will officially abolish the value-added tax (VAT) export tax rebate for photovoltaic (PV) products. "The PV industry is currently undergoing a profound adjustment, and the abolition of export tax rebates will accelerate the industry consolidation process," said Wang Tieshan, director of the Industrial Development and Investment Research Center at Xian University of Technology. He believes that leading companies, having established overseas operations earlier, have relatively controllable impacts due to their globalized production capacity, while small and medium-sized manufacturers face a more severe survival test. Wang Tieshan further analyzed that in the past, a large portion of the export tax rebate benefits was actually passed on to overseas buyers through price reductions. After the policy is abolished, companies will renegotiate prices with overseas customers, and the pace of overseas factory construction will accelerate. Overall, this adjustment is an important signal that the PV industry is shifting from policy-driven to market-based competition.1. Market news: The US has lifted sanctions on some Russian-flagged container ships. 2. Russian Baltic oil exports fell to a four-year low due to drone attacks. 3. Kremlin: No “clear” Easter ceasefire proposal from Kyiv has been seen. 4. Local leaders stated that Ukrainian drones again attacked the Russian Baltic port of Usterluga. 5. Russian presidential aide Patrushev: Ukraine attacked Russian civilian infrastructure with the involvement of Western intelligence agencies. 6. Ukrainian President Zelensky: A video conference with the US will be held on April 1st. Ukraine will request the US to convey its energy ceasefire proposal to Russia. 7. Kremlin: Russia will respond if other countries allow Ukraine to use its airspace to launch drone attacks on Russian Baltic ports.US President Trump: Iran’s reconstruction will take 15 to 20 years.Leapmotor (09863.HK): Recently, the companys CEO Zhu Jiangming and shareholder Fu Liquan jointly purchased 5,080,200 H shares of the company on the market at an average price of approximately HK$45.10 per share, for a total investment of approximately HK$230 million.

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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