人均64万元，SK海力士将向员工发放创纪录的巨额年终奖

Core Viewpoint - SK Hynix is set to distribute record-high performance bonuses averaging over 136 million KRW (approximately 640,000 RMB) to its employees, attributed to a historic labor agreement and strong financial performance [1][2]. Group 1: Bonus Structure and Labor Agreement - The performance bonus is a result of a historic labor agreement reached in September 2024, which removed the previous cap on profit-sharing bonuses [1]. - The new structure allocates 10% of annual operating profit to the bonus pool, leading to an expected total bonus of 4.5 trillion KRW (approximately 21.27 billion RMB) for 2025 [1]. - The bonus distribution follows an "8:1:1" model, with 80% paid immediately after performance announcement and 20% deferred over two years, earning 10% interest [1]. Group 2: Financial Performance - SK Hynix reported a sales figure of 24.45 trillion KRW for Q3 2025, marking a 10% quarter-on-quarter increase and a 39% year-on-year increase [2]. - Operating profit reached 11.38 trillion KRW, reflecting a 24% quarter-on-quarter increase and a 62% year-on-year increase, with a profit margin of 47% [2]. - The global memory market is experiencing unprecedented volatility, with DDR5 memory prices increasing over 300% since July 2025, driven by demand from AI and server capacities [2]. Group 3: Stock Performance and Analyst Ratings - SK Hynix's stock price surged from approximately 204,000 KRW at the end of 2024 to about 760,000 KRW by the end of 2025, representing a 275% increase [2]. - Morgan Stanley's analysis maintains an "overweight" rating for SK Hynix, raising the target price for December 2026 from 800,000 KRW to 1,000,000 KRW, citing strong pricing momentum [3]. - Analysts expect a 20% to 25% upward revision in earnings per share (EPS) for the fiscal years 2026 to 2027 [3].