Giga Device Semiconductor's (SHSE:603986) Soft Earnings Are Actually Better Than They Appear
Shareholders appeared unconcerned with Giga Device Semiconductor Inc.'s (SHSE:603986) lackluster earnings report last week. We did some digging, and we believe the earnings are stronger than they see
Mega Easy Innovation (603986): Q1 performance exceeded expectations and reached an inflection point, marginal price increases accelerated recovery
Guide to this report: Storage and MCU are at the bottom of the cycle, Nor utilization is gradually being fully produced, SLC Nand and niche DRAM prices are rising moderately, and the company is benefiting from the expansion of production capacity and iteration of new products to accelerate the domestic replacement process.
Express News | Seven listed memory chip companies revealed first-quarter results, Lanqi Technology's net profit increased more than tenfold year-on-year
Express News | Zhaoyi Innovation and TASKING reached a strategic cooperation
Zhaoyi Innovation (603986): Net profit to mother improved significantly in 24Q1, focus on the sharp rise in niche storage volume and price
24Q1 revenue increased 19% month-on-month, net profit to mother turned month-on-month loss into profit, and profitability improved markedly. The company's revenue in 2023 was 5.761 billion yuan, down 29.14% year on year, and net profit to mother was 161 million yuan, same
Donghai Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) a purchase rating. The main reasons for the rating include: 1) impairment losses and price cuts for storage and MCU are the main reasons for the s
Donghai Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) a purchase rating. The main reasons for the rating include: 1) impairment losses and price cuts for storage and MCU are the main reasons for the sharp decline in 2023 performance, which may be greatly mitigated in 2024; 2) the company's memory chip sales will continue to grow in 2024; storage prices may be expected to rise; in addition, the company's niche DRAM products may rise significantly in volume and price; 3) the company's MCU products continue to be abundant, and automotive-grade products are being mass-produced. (Mainichi Keizai Shimbun)
Mega Easy Innovation (603986): The inflection point has reached and growth can be expected
Description of the event On April 19, 2024, GigaYi Innovation announced the “2023 Annual Report” and the “2024 First Quarter Report”. In 2023, the company achieved operating revenue of 5.761 billion yuan, -29 yuan year-on-year
Bank of China Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) an increase in holdings rating. The main reasons for the rating include: 1) The company released the 2023 report and the 2024 quarterly repo
Bank of China Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) an increase in holdings rating. The main reasons for the rating include: 1) The company released the 2023 report and the 2024 quarterly report, and the 24Q1 company's performance showed a recovery trend. At the same time, the company announced equity incentive targets showing confidence in growth, and is optimistic that the company will release long-term development potential as the industry sentiment rises; 2) the company's 24Q1 performance will pick up significantly; 3) increase sales to seize market share and continue to innovate and stabilize its leading position; 4) Increase capital, Changxin Technology strengthens strategic collaboration, and equity incentives show confidence in long-term development. (Mainichi Keizai Shimbun)
Depth* Company* Zhaoyi Innovation (603986): 24Q1 Shuguang Chu Now Increases Capital Changxin+ Incentives Show Strength and Confidence
The company released its 2023 annual report and 2024 quarterly report, and the 24Q1 performance showed a recovery trend. At the same time, the company announced equity incentive targets to demonstrate confidence in growth. It is optimistic that the company will release long-term development potential and maintain growth as the industry sentiment rises
Mega Easy Innovation (603986.SH): The corresponding repurchase amount for repurchased shares to be repurposed and cancelled is approximately RMB 497.25 million
Gelonghui, April 23 | Zhaoyi Innovation (603986.SH) announced that in order to effectively protect the interests of investors, enhance investor confidence, and increase long-term investment value, the company's board of directors agreed to change the use of some of the shares already repurchased. For 500,000 shares of the company's repurchased shares in 2023, the use was changed from the original repurchase plan “for subsequent implementation of the equity incentive plan” to “for cancellation and reduction of registered capital”. This change is subject to review and approval by the company's shareholders' meeting before it can take effect. Based on the average repurchase price of RMB 99.45 per share, the repurchased share pairs that the company plans to repurpose and cancel
Minsheng Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) a recommended rating. The main reasons for the rating include: 1) Q1 performance exceeded expectations, and business performance is improving; 2)
Minsheng Securities released a research report on April 23 stating that it gave Zhaoyi Innovation (603986.SH) a recommended rating. The main reasons for the rating include: 1) Q1 performance exceeded expectations, and business performance is improving; 2) major overseas manufacturers raised DDR3 prices, and NorFlash prices are expected to rise; 3) MCU prices have rebounded steadily to expand the automotive front-end market; 4) positive equity incentive targets, demonstrating confidence in development. (Mainichi Keizai Shimbun)
Mega Easy Innovation (603986): Q1 performance exceeded expectations and the niche storage cycle increased
Event: On April 19, 2024, GigaYi Innovation released its 2023 annual report and the first quarter report of 2024. In 2023, the company achieved revenue of 5.761 billion yuan, yoy -29.14%, and net profit to mother
Zhaoyi Innovation (603986): The consumer market is gradually recovering, and 24Q1 performance has improved significantly
Matters: On April 19, the company released its 2023 annual report and 2024 quarterly report. In 2023, the company achieved revenue of 5.761 billion yuan, -29.14% year-on-year, and realized net profit of 161 million yuan, or -92 million yuan year-on-year.
GigaYi Innovation (603986): Continued enrichment of product lines and increased market share is expected to benefit from memory cycle recovery
Incident: Recently, the company released the 2023 annual report and the 2024 first quarter report. In 2023, the company achieved revenue of 5.761 billion yuan, -29.14% year on year; net profit to mother was 161 million yuan, -92 million yuan year on year
Beishui raised nearly HK$800 million from Tencent and sold HSBC Holdings worth nearly HK$400 million; Nanshui added a warehouse of nearly 900 million yuan to Kweichow Moutai
On April 22 (Monday), Southbound made net purchases of HK$2,901 million in Hong Kong stocks today. Bank of China and China Mobile received net purchases of HK$577 million and HK$240 million respectively.
Qunyi Securities released a research report on April 22 stating that it gave Zhaoyi Innovation (603986.SH) a Buy (Buy) rating. The main reasons for the rating include: 1) the 2023 performance is under pressure; 2) the 1Q24 profit inflection point is evide
Qunyi Securities released a research report on April 22 stating that it gave Zhaoyi Innovation (603986.SH) a Buy (Buy) rating. The main reasons for the rating include: 1) the 2023 performance is under pressure; 2) the 1Q24 profit inflection point is evident, and there is a clear upward trend in industry sentiment. (Mainichi Keizai Shimbun)
Zhongtai Securities released a research report on April 21 stating that it maintains the GigaYi Innovation (603986.SH) purchase rating. The main reasons for the rating include: 1) the 2024Q1 off-season but outstanding performance, with revenue growth of 1
Zhongtai Securities released a research report on April 21 stating that it maintains the GigaYi Innovation (603986.SH) purchase rating. The main reasons for the rating include: 1) the 2024Q1 off-season but outstanding performance, with revenue growth of 19%, breaking out of the trough; 2) issuing incentive plans to concentrate executives and core cadres to highlight long-term development confidence; 3) the DRAM business has accelerated growth over 24 years, enjoying large space+high flexibility; 4) SLCNAND and NOR price increase trends are highlighted; 5) 2023Q4 MCU has begun to stabilize, and the product has begun to stabilize.
Mega Easy Innovation (603986): 1Q24 performance growth rate rebounded as scheduled
Conclusions and suggestions: 1H24's revenue increased by more than 20%, net profit after deduction increased by 40%, and performance improved markedly. The storage industry is expected to improve quarterly in 2024, and the performance flexibility of leading companies will continue to show. GigaYi Innovates as a Domestic Survivor
Express News | Zhaoyi Innovation: Chairman proposes to change the use of some repurchased shares and cancel them
SDIC Securities released a research report on April 21 stating that the purchase rating was given to Zhaoyi Innovation (603986.SH), and the target price was 102.8 yuan. The main reasons for the rating include: 1) in 2023, revenue was clearly affected by p
SDIC Securities released a research report on April 21 stating that the purchase rating was given to Zhaoyi Innovation (603986.SH), and the target price was 102.8 yuan. The main reasons for the rating include: 1) in 2023, revenue was clearly affected by prices, and sales of some product lines reached record highs; 2) the first quarter results achieved a good start, and domestic memory chips are expected to enter an upward cycle. (Mainichi Keizai Shimbun)
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