According to the TechInsights report, driven by the artificial intelligence boom, the global memory chip price has been rising, and the memory chip industry has also rebounded strongly. Not only the latest financial reports of global storage giants Samsung Electronics, SK hynix and Micron have outstanding performance; At the same time, the performance and profits of domestic memory chip manufacturers have also risen sharply.
Today, Uncle Biao will take stock of the performance of 10 domestic memory chip manufacturers in the first half of the year. According to Choice statistics, as of July 12, 10 memory chip listed companies, including Montage Technology, Huatian Technology, Jacques Technology, GigaDevice Innovation, Demingli, Wanrun Technology, Shanghai Belling, BIWIN Storage, Dagang Co., Ltd., and Dawei Co., Ltd., disclosed their performance forecasts for the first half of the year. The details are as follows:
1. Montage Technology
On July 5, Montage Technology announced that it expects to achieve operating income of RMB 1.665 billion in the first half of 2024, an increase of 79.49% over the same period of the previous year. The net profit was 583 million yuan to 623 million yuan, a year-on-year increase of 612.73%-661.59% (6.13 times to 6.62 times), and the net profit was 535 million yuan to 565 million yuan, a year-on-year increase of 139.25 times to 147.12 times.
Among them, the operating income in the second quarter is expected to be 928 million yuan, an increase of 82.59% over the same period last year; The net profit is 360 million yuan to 400 million yuan, which is expected to increase by 61%-79% from the previous quarter, which is much higher than the first quarter - the company's net profit in the first quarter increased by 2.85% from the previous quarter. In the second quarter of 2024, Montage Technology's single-quarter net profit increased quarter-on-quarter for five consecutive quarters, and the non-net profit is expected to hit a record high for the same period.
2. Huatian Technology
On the evening of July 12, the performance forecast was released, and it is expected that the net profit attributable to shareholders of listed companies in the first half of 2024 will be 190 million yuan ~ 230 million yuan, a year-on-year increase of 202.17% ~ 265.78%.
The rebound in performance is mainly due to the rebound in the first half of 2024, under the influence of the recovery in demand for related electronic terminal products, the prosperity of integrated circuits will rebound. In the first half of the year, Huatian Technology's orders increased, the capacity utilization rate increased, and the operating income increased significantly compared with the same period last year, which greatly improved the company's operating performance.
3. Jacques Technology
On July 9, Jacques Technology released a performance forecast for the first half of 2024, which is expected to achieve a net profit of 512 million yuan to 580 million yuan in the first half of 2024, a year-on-year increase of 50.00% to 70.00%; The net profit after deducting non-recurring gains and losses was 519 million yuan to 587 million yuan, a year-on-year increase of 48.48% to 68.03%.
The main reason for the growth of performance is that with the recovery growth of the integrated circuit industry in 2024, as well as the rapid development of artificial intelligence, big data and cloud computing, the increase of domestic integrated circuit production lines and production capacity, the rapid growth of downstream product categories such as storage and logic chips and high-bandwidth memory (HBM) for AI, and the sales of semiconductor electronic materials have increased significantly.
The display panel industry will recover growth in 2024, as well as the penetration rate of OLED display electronic products will increase, and the 2024 Olympic year will drive the consumption of display electronic products to update, and the sales of display panel materials and ancillary products will increase significantly.
Fourth, GigaDevice
On the evening of July 9, GigaDevice released an announcement on the expected increase in 2024 semi-annual results, and it is expected to achieve operating income of about 3.609 billion yuan in the first half of 2024, a year-on-year increase of 21.69%; It is estimated that the net profit attributable to shareholders of listed companies will be about 518 million yuan, an increase of about 182 million yuan compared with the same period last year, a year-on-year increase of about 54.18%.
As for the reasons for the growth of performance, first, after experiencing sluggish market demand and gradual destocking in 2023, demand in the consumption and networking markets will pick up in the first half of 2024, driving the company's memory chip product sales and revenue growth; Second, in terms of operation, the company continued to maintain the strategy of focusing on market share, continued to invest in R&D and product iteration, continuously optimized product costs, and continuously enhanced the competitiveness of multiple product lines.
Fifth, Demingli
On July 9, Demingli announced that it is expected that the net profit in the first half of 2024 will be 380 million yuan to 450 million yuan, a year-on-year turnaround, and a loss of 79.4165 million yuan in the same period last year. Operating income is expected to be 2 billion yuan to 2.3 billion yuan, a year-on-year increase of 238.68% to 289.48%.
The increase in performance was mainly due to the company's improvement of the layout of the storage product line, increasing the expansion of downstream end customers and sales channels, and significantly increasing the business scale and profitability. The R&D expenses for the first half of 2024 will be about 76 million yuan, a significant increase year-on-year.
6. Wanrun Technology
On July 12, Wanrun Technology announced that it is expected to make a net profit of 24 million yuan to 36 million yuan in the first half of the year, a year-on-year turnaround.
The main reasons include: first, benefiting from the rise in market demand and strengthening market expansion, the company's orders for LED products increased during the reporting period compared with the same period last year; Second, the two new energy wind power subsidiaries acquired by the company in the second half of 2023 were included in the scope of the company's merger, contributing to the consolidated profit during the reporting period; Third, during the reporting period, the company continued to strengthen cost control, optimize internal management, and improve operational efficiency.
7. Shanghai Belling
Shanghai Belling announced on July 9 that the company expects the net profit attributable to the parent company to be 120 million yuan to 140 million yuan in the first half of 2024, turning losses into profits year-on-year.
The main reason: the recovery of some market demand in the integrated circuit industry, the improvement of prosperity, and the growth of downstream customer demand. With the continuous increase of the company's R&D investment in recent years, the company's independent innovation ability has been further improved, and the product series and types have been continuously improved and enriched. At the same time, the company further increased product sales, revenue is expected to increase by 27% year-on-year, contributing to a year-on-year increase in gross profit.
8. BIWIN Storage
BIWIN Storage announced on July 10 that it is expected to achieve operating income of 3.100 billion yuan to 3.700 billion yuan in the first half of the year, a significant increase of 169.97% to 222.22% year-on-year, and the revenue in the first half of the year is basically the same as that of last year. It is expected that the net profit attributable to the parent company in the first half of the year will be 280 million yuan to 330 million yuan, and the loss will be successfully reversed. Since the company's net profit attributable to the parent company in the first quarter was 168 million yuan, it is estimated that the company's net profit attributable to the parent company in the second quarter was 112 million yuan to 162 million yuan.
The main reason is that BIWIN Storage is the leading memory in China, and memory chips are a typical cyclical industry, and in recent years, benefiting from the recovery of the consumer electronics industry, the price of memory has continued to strengthen, driving the company's performance to turn around significantly.
9. Dagang shares
On July 8, Dagang announced that the net profit attributable to shareholders of listed companies in the first half of 2024 is expected to be 25 million yuan to 32 million yuan, a year-on-year decrease of 67.29% to 74.44%. The net profit after deducting non-recurring gains and losses was 29 million yuan to 36 million yuan, a year-on-year increase of 36.04% to 68.87%.
The change in performance was mainly due to a decrease in non-recurring gains and losses. The capital increase and share expansion of Suzhou Keyang Semiconductor Co., Ltd. and the bankruptcy liquidation of Jiangsu Zhongke Dagang Laser Technology Co., Ltd. are the main influencing factors.
10. Dawei shares
On July 10, Dawei announced that the company's net profit in the first half of 2024 is expected to lose 9.6 million yuan to 12.3 million yuan, a year-on-year decrease of 62.19% to 70.49%. The net profit after deducting non-recurring gains and losses is expected to be 10.25 million yuan to 12.95 million yuan, a year-on-year decrease of 60.76% to 68.94%.
The main reason is that the revenue of semiconductor storage business and auto parts business increased year-on-year, and the revenue of new energy materials business was about 53 million yuan. A total of more than 13,600 yuan has been invested in the Chenzhou lithium battery new energy industry project, and the project construction is being actively promoted.
summary
In the context of the sharp rise in global memory chips, looking at the 10 domestic memory chip manufacturers, 8 have seen a sharp increase in performance and profits; Only 2 lost money, but the margin of the loss is also significantly reduced.
Montage Technology had the largest increase in net profit, which increased quarter-on-quarter for five consecutive quarters. It shows that Montage Technology's hard core strength has been unanimously recognized by the market.
As global memory chips continue to recover, mainstream memory chip manufacturers have taken the lead in starting the price increase mode. According to TrendForce's latest survey, the price of the entire DRAM contract increased by 13%-18% quarter-on-quarter in the second quarter. Some industry insiders said that from the end of 2023, the global semiconductor storage industry will gradually enter an upward cycle, and this year has received many notices from upstream memory chip factories to increase contract prices. Server manufacturer Dell recently predicted that DRAM and SSD prices will rise by 15% to 20% in the second half of the year.
Now, coupled with the strike of Samsung Electronics workers, it is expected that this wave of DRAM and NAND memory chip price increases this year may not stop.