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Huichang Technology stated on its interactive platform that its Ollobot brand AI interactive terminal products are still in the development and verification stage, and the specific product forms and series plans will be dynamically evaluated and promoted in combination with user and market feedback.On January 21, Hong Kong Financial Secretary Paul Chan Mo-po, speaking at an event related to the World Economic Forum Annual Meeting in Davos, Switzerland, stated that Hong Kong, as an international financial center, adopts a proactive yet prudent approach to developing digital assets. Since 2023, Hong Kong has issued licenses to 11 virtual asset trading platforms and expects to issue stablecoin licenses later this year. Furthermore, the Hong Kong SAR government is leading by example in promoting tokenization, including issuing three tranches of tokenized green bonds totaling approximately US$2.1 billion, and launching a regulatory sandbox to encourage application innovation.On January 21, the Indonesian Attorney Generals Office announced on Wednesday that it will auction off an Iranian-flagged supertanker later this month. The tanker was seized in 2023 on suspicion of involvement in illegal crude oil transshipment. Indonesian authorities stated that the tanker, named "MT Arman 114," is over 300 meters long and was seized in the North Natuna Sea in 2023 on suspicion of transferring oil to another vessel without permission. The Very Large Crude Carrier (VLCC) will be auctioned on January 30, with a starting price of 1.17 trillion Indonesian rupiah (approximately US$69.01 million). Its cargo, including nearly 170,000 tons of light crude oil, will also be auctioned. Iran denied ownership of the tanker in 2023.On January 21, the daily gas supply of the national main natural gas pipeline network managed by the State Pipeline Group reached 1.1 billion cubic meters, setting a new single-day peak supply record. Recently, northern, central-eastern, and southern my country have experienced a sharp drop in temperature, leading to a surge in natural gas demand. As the main operator of the national energy pipeline network, the State Pipeline Group proactively increased its pipeline storage to over 3.6 billion cubic meters, ensuring the high-level operation of its eight self-owned liquefied natural gas (LNG) receiving terminals and laying a solid resource foundation for supply during the cold wave.On January 21st, Daiwa Securities issued a research report re-evaluating its forecast for Tencents (00700.HK) performance last quarter. The report anticipates a slowdown in the groups domestic gaming business due to seasonal factors and a high base effect, while the international gaming business is expected to stabilize after an exceptionally strong third quarter. Furthermore, the report states that recruitment costs for AI talent and GPU leasing will put upward pressure on operating expenses. The report lowered its forecast for the groups gaming revenue for the period due to Tencents overall weak revenue performance last quarter, expecting domestic gaming revenue to reach RMB 37.3 billion, representing a year-on-year increase of 12% but a quarter-on-quarter decrease of 13%. Daiwa lowered its 2026-2027 earnings per share forecast for Tencent by 1-2%, reiterated its "Buy" rating, but lowered its target price from HKD 750 to HKD 725.

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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