Montage Technology(SH:688008) Zheng Quan Zhi Xing·2025-04-10 16:27Core Viewpoint - The company, 澜起科技, is expected to achieve significant growth in its financial performance for the first quarter of 2025, driven by strong demand in the AI industry and increased sales of DDR5 memory interface and high-performance chips [1][2][3] Financial Performance Summary - The company forecasts a net profit attributable to shareholders of 5.1 billion to 5.5 billion yuan for Q1 2025, representing a year-on-year increase of 128.28% to 146.19% and a quarter-on-quarter increase of 17.59% to 26.82% [2][3] - Estimated operating revenue for Q1 2025 is approximately 12.22 billion yuan, reflecting a year-on-year growth of about 65.78% and a quarter-on-quarter growth of about 14.42% [2][3] - The sales revenue from interconnect chips is projected to be around 11.39 billion yuan, with a year-on-year increase of 63.92% and a quarter-on-quarter increase of 17.19% [2][3] Growth Drivers - The growth is attributed to three main factors: 1. Increased demand for DDR5 memory interface and module supporting chips due to the AI industry trend, leading to a significant rise in sales volume [3] 2. Sales revenue from three high-performance chips (PCIe Retimer, MRCD/MDB, and CKD) reached 1.35 billion yuan, marking a year-on-year increase of 155% [3] 3. Improved gross margin for interconnect chip products as the sales of DDR5 memory interface and high-performance chips increase [3] Historical Performance - In 2024, the company reported a total revenue of 36.39 billion yuan, a year-on-year increase of 59.2%, and a net profit attributable to shareholders of 14.12 billion yuan, up 213.1% [4] - The fourth quarter of 2024 saw a single-quarter revenue of 10.68 billion yuan, a year-on-year increase of 40.43%, and a net profit of 4.34 billion yuan, up 99.72% [4]