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On April 10th, it was reported that AliExpress, Alibabas cross-border e-commerce platform, is preparing to hold a closed-door brand summit in Shenzhen on April 15th. The summit is strictly by invitation only to leading brands, and open registration is not accepted. 99 brands, including Xiaomi and Dreame, have been invited, and invitations have been disbursed. It is understood that half of the speakers are from overseas, and the combined overseas sales of the attending brands exceed one trillion yuan.On April 10th, Bank of America Securities issued a report stating that Innoscience (02577.HK) management indicated in the analyst briefing following the 2025 fiscal year results that downstream demand is expected to be strong in 2026 due to the increasing penetration rate of gallium nitride (GaN) in various end markets. Management projects total revenue for fiscal year 2026 to reach RMB 2 billion to 2.5 billion, representing year-on-year growth of 65% to 106%, with gross margin potentially further improving to over 15%. The bank reiterated its buy rating on Innoscience, but lowered its target price from HKD 108 to HKD 92. Bank of America stated that due to a more conservative gross margin forecast, it lowered its adjusted net profit forecasts for Innoscience for 2026 and 2027, but raised its revenue forecasts by 3% to 4% for the same period.On April 10th, Thai Finance Minister Ekniti Nitithanprapas stated that due to the Middle East conflict, Thailand expects oil prices to remain high for up to two years, foreshadowing sustained pressure on this net energy importer already grappling with rising costs and slowing growth. Speaking to lawmakers during a parliamentary debate following a government policy statement, Ekniti noted that energy infrastructure in the Middle East has been severely damaged, and oil and gas supplies could take one to two years to stabilize. He added that the government plans to accelerate the adoption of solar, biofuels, and other renewable energy sources to cushion the impact of high energy costs on households and businesses. The energy shock has already affected the economic outlook. Economists have begun to lower their growth forecasts for Thailand as rising fuel costs have dampened consumption and disrupted exports and tourism—two core drivers of the Thai economy.On April 10th, according to the National Cybersecurity Notification Center, the center detected a recent surge in supply chain poisoning attacks. Targets included the API development tool Apifox, the Python library LiteLLM, and the JavaScript HTTP library Axios, involving two core supply chain scenarios: open-source software repositories and commercial tools. The Axios poisoning incident, in particular, occurred because many AI applications and plugins, such as OpenClaw, directly rely on this library, allowing the risk to spread further to end users through the dependency chain. These three supply chain poisoning incidents share common characteristics: high stealth, wide impact, high severity, and rapid spread, potentially causing serious harm such as credential theft, remote code execution, and sensitive data leakage.On the morning of April 10, Xi Jinping, General Secretary of the CPC Central Committee, met with Cheng Li-wen, Chairperson of the Kuomintang, in Beijing.

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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