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EU High Representative for Foreign Affairs and Security Policy Karas: Excluding nuclear experts from negotiations with Iran could result in a weaker agreement than the Joint Comprehensive Plan of Action (JCPOA).The main Shanghai silver futures contract fell 4.00% intraday, currently trading at 18,500.00 yuan/kg.Spanish Prime Minister Sánchez: The situation in the Middle East shows the need to respect international law.On April 24th, He Xiaopeng, Chairman of XPeng Group (09868.HK), revealed that the company is in talks with overseas automakers regarding potential collaborations, hoping to commercialize its driver assistance technology globally and expand its production scale outside of China. He Xiaopeng stated that the companys advanced driving system has attracted the attention of domestic automakers, parts suppliers, and European companies. Furthermore, XPeng Motors stated that overseas demand for its vehicles has exceeded expectations, particularly in France and Germany, where sales have surpassed local production capacity. The company plans to expand its overseas production scale starting in 2026, including upgrading existing factories and building new ones, with Europe, Southeast Asia, and Latin America all under consideration.On April 24th, Futures News reported that, according to foreign media, researchers at the Maua Technical Institute in Brazil will begin testing the feasibility of adding 20% biodiesel (B20) to diesel fuel in May. The first test engine is scheduled to be installed next month, and fuel is expected to arrive in the last week of May. 1. Background and Motivation: Due to the global energy disruption caused by external geopolitical situations since February, there have been calls within Brazil to increase the legal blending ratio to reduce dependence on fossil fuels and imported energy. Currently, the legal blending ratio in Brazil is 15% biodiesel in diesel and 30% ethanol in gasoline. 2. Testing Details: The first phase will involve 300 hours of engine testing on B15 and B20 to evaluate filter clogging, injection system behavior, and injector conditions. The second phase will analyze pollutant emissions under B7 and B25 blending ratios. 3. Industry Impact: The Brazilian Vegetable Oil Industry Association (Abiove) stated that this extensive testing will open the door to blending ratios higher than B15, even reaching B20, which has a very promising future for the industry.

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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