International e-commerce news on the 18th With the rapid growth of the AI server market, downstream customer demand continues to pick up, and the semiconductor industry shows a recovery trend. Among them, the memory chip industry took the lead, leading the demand recovery for China's integrated circuits.
From the perspective of performance changes, in the first quarter of this year, the performance of China's local memory chip industry chain companies increased significantly year-on-year.
Memory interface chip leader Lanqi Technology expects to achieve operating income of 737 million yuan in the first quarter of 2024, an increase of 75.74% over the same period last year; net profit attributable to the parent company was 210 million yuan to 240 million yuan, an increase of 9.65 times to 11.17 times over the same period last year.
Lanqi Technology said that the sales revenue of the interconnect chip product line in the first quarter was about 695 million yuan, a record high. In addition, some of the company's new products have begun to be shipped on a large scale, PCIe Retimer chips have been successfully introduced into the AI server procurement projects of mainstream cloud computing/Internet manufacturers, and high-bandwidth memory modules of MRCD/MDB chip servers have begun large-scale trials in mainstream cloud computing/Internet manufacturers.
As one of the few storage companies in China with both chip design and packaging and testing capabilities, Baiwei Storage expects to achieve operating income of 1.7 billion yuan to 1.8 billion yuan in the first quarter of 2024, a year-on-year increase of 299.54% to 323.04%; the net profit attributable to the parent company was 150 million yuan to 180 million yuan, a year-on-year increase of 219.03% to 242.84%, and the turnaround was achieved.
Baiwei Storage said that during the reporting period, the price of the company's storage products continued to rise, and its operating performance continued to improve. In addition, the company continues to increase R&D investment in storage solution research and development, chip design, advanced packaging and testing and test equipment and other fields to enhance core competitiveness, and the R&D expenses in the first quarter are about 100 million yuan, a year-on-year increase of more than 200%.
So, what is the current progress of the overall inventory removal of the memory chip industry?
Lanqi Technology said that this round of destocking of the server and computer industry is nearing its end. Since the beginning of this year, the demand for memory interface chips has achieved restorative growth, and some of the company's new products (such as PCIe Retimer, MRCD/MDB chips) have begun to be shipped on a large scale, driving the company's revenue and net profit in the first quarter of 2024 to increase significantly compared with the same period last year. In the first quarter of 2024, the sales revenue of the company's interconnect 22 types of chip product line was about 695 million yuan, a record high for the product line's sales revenue in the first quarter (the previous record was 575 million yuan in the first quarter of 2022).