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On June 30, Eli Lilly and Innovent Biologics (01801.HK) jointly announced that they have reached a cooperation agreement regarding the rights to Eli Lillys CDK4&6 inhibitor Vizzar® (abecicalbide tablets) in mainland China: Innovent Biologics will be responsible for the import, sales, promotion and distribution of Vizzar® (abecicalbide tablets) in mainland China; Eli Lilly will continue to be responsible for the production, supply and ongoing development of the product.On June 30th, the Shanghai Stock Exchange announced that the secondary market trading price of Invesco Great Wall Global Chip LOF (501225) was significantly higher than its net asset value per unit, exhibiting a substantial premium. Trading in the fund will be suspended from the opening of the market on the afternoon of June 30th, 2026, until the market closes on the same day. Redemption services will continue as usual during the suspension period.Morningstar: Lowered its fair value estimate for JD.com (09618.HK) by 20% to HK$138.00.On June 30th, Unisound (09678.HK) announced that it plans to develop Hangzhou into a regional R&D center for the Yangtze River Delta region, constructing the Unisound AI Chip Innovation Headquarters R&D building. The project will focus on building a large-scale, high-performance intelligent computing cluster to further improve the underlying computing infrastructure for large-scale model services, supporting the companys core strategy of strong foundational models and deep applications. To this end, a subsidiary of the company entered into a general contracting agreement with Shuanglou Construction, the general contractor, for the construction of the Unisound AI Chip Innovation Headquarters project. The contract price is RMB 252,977,950.On June 30th, Futures News reported that oil prices rose yesterday due to a series of attacks on oil tankers near the Strait of Hormuz and the resumption of military operations between the US and Iran. Although the two sides subsequently suspended military operations, renewed market concerns directly led to a rise in oil prices. Zhuochuang Information predicts that continued attention should be paid to developments in the Middle East. If the situation does not escalate further, or even de-escalates, oil prices will likely decline. Otherwise, market volatility will persist, and oil prices will fluctuate widely at high levels. In the short term, US crude oil is expected to fluctuate weakly around $70.

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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