Jinwu Financial News | The semiconductor sector mostly rose. Huahong Semiconductor (01347) rose 4.85%, SMIC (00981) rose 4.31%, Shanghai Fudan (01385) rose 3.24%, and CLP Huada Technology (00085) rose 2.19%.
Open Source Securities said that starting in March 2023, domestic and global semiconductor sales have continued to grow year on year, chip industry inventories have gradually returned to a healthy level, and demand has gradually recovered. Affected by upstream original production control and the gradual recovery of downstream demand, storage products began to show signs of price increases; domestic substitution logic such as equipment, materials, and high-end chips continued to increase.
Debon Securities said that since the second half of 2022, domestic and foreign economic recovery has fallen short of expectations, and the global macroeconomic downturn has led to an overall slowdown in semiconductor sales. As a result, analog chip makers experienced a significant decline in revenue and profits, and overall inventories showed a high level. As inventory removal in consumer electronics and other industries came to an end, demand gradually picked up, and the performance of 24Q1 analog chip companies began to recover 1) Revenue side: 24Q1 analog sector company (Shenwan Industry Classification) achieved revenue of 10.110 billion yuan, +34.01% over the same period last year. 2) Profit side: Net profit to mother was achieved in 24Q1 - 114 million yuan, +317 million yuan year on year. 3) Gross profit margin: 24Q1 average gross profit margin 36.66%, year-on-year -2.92pct, month-on-month -0.34pct.