10月29日，深科技发布2025年第三季度报告。报告显示，公司整体经营保持稳定，累计营业收入实现增长，净利润同比提升，展现出较强的经营韧性。 值得注意的是，报告期内公司扣除非经常性损益的净利润有所波动，但主营业务整体保持稳定。在全球电子信息产业竞争加剧的背景下，深科技通过优化产 品结构、提升运营效率，保持了企业稳健发展的态势。 2025年第三季度，公司实现营业收入35.38亿元；年初至报告期末累计营业收入达112.78亿元，较上年同期增长3.93%。盈利方面，第三季度归属于上市公司 股东的净利润为3.04亿元，同比微增0.95%；年初至报告期末累计实现净利润7.56亿元，同比增长14.27%，显示出公司盈利能力的稳步提升。 公司在现金流管理方面表现良好，年初至报告期末经营活动产生的现金流量净额达20.33亿元，同比增长6.05%，为企业运营提供了充足的资金保障。截至报 告期末，公司总资产为275.57亿元，较上年度末增长2.93%；归属于上市公司股东的所有者权益为127.35亿元，增长7.22%，资产结构持续优化。 每股收益方面，报告期内公司基本每股收益和稀释每股收益均为0.1940元/股，同比增长0.57% ...

Group 1 - The core viewpoint of the article is that the company is advancing its expansion plans in the storage semiconductor sector to meet the increasing demand from major customers, with a notable increase in order volume in the second quarter compared to the first quarter [1] - The company charges processing fees in the packaging and testing segment, which are relatively stable and less affected by fluctuations in the prices of end products [1]

Core Viewpoint - The semiconductor market is expected to rebound starting from the second quarter of this year, although the recovery will be gradual and not significant. Both Samsung Electronics and SK Hynix are projected to report disappointing first-quarter earnings due to weak memory semiconductor prices and expanded losses in their foundry divisions [1][2]. Group 1: Samsung Electronics - Samsung Electronics' first-quarter operating profit is estimated to be around 5 trillion KRW, a decrease of over 1 trillion KRW compared to both the previous year's first quarter (6.6 trillion KRW) and the last quarter (6.5 trillion KRW) [1]. - The decline in performance is primarily attributed to weak storage semiconductor prices and increased losses in the foundry sector. The memory business is expected to generate profits exceeding 2 trillion KRW, but an operating loss of approximately 400 billion KRW is anticipated [1]. - The high-bandwidth memory (HBM) export restrictions to China and the drop in prices of general memory products have negatively impacted profitability compared to the same period last year [1]. Group 2: SK Hynix - SK Hynix's first-quarter operating profit is projected to be around 6.5 trillion KRW, showing growth compared to last year's first quarter (2.886 trillion KRW) but a decline of over 1 trillion KRW from the previous quarter (8.1 trillion KRW) [2]. - The decrease in performance is linked to falling prices of general DRAM and a slight decline in HBM shipments to its core customer, NVIDIA [2]. - Positive signs have emerged in April with increased demand for memory, as Micron, one of the three major DRAM producers, announced significant price hikes, leading to expectations of a "spring for semiconductors" in the second quarter [2]. Group 3: Market Outlook - Analysts expect that the performance of Samsung Electronics and SK Hynix will improve in the second quarter due to demand from China, the largest market [2]. - Recent adjustments in mobile DRAM inventory in China are nearing completion, with DDR4 spot prices following DDR5 price increases, indicating a price increase phase in the first half of the year [2]. - NAND flash prices are also anticipated to enter an upward trend starting in April due to long-term supply reductions, with expectations of a recovery in the memory industry after the second quarter [2].

Core Viewpoint - The article discusses the strategic shift of the United States towards enhancing domestic semiconductor production, particularly in advanced logic semiconductors, by attracting investments from Taiwanese and South Korean companies. This shift is driven by economic security concerns and aims to reduce reliance on Asian imports, especially in the context of AI and communication technologies. Group 1: U.S. Semiconductor Market Dynamics - The U.S. share of global semiconductor production has declined from 37% in 1990 to 10% in 2022, but is expected to reverse starting in 2025 [2] - By 2030, the U.S. is projected to capture 22% of the global advanced logic semiconductor capacity, doubling its 2021 share, while Taiwan's share will decrease from 71% to 58% [2][3] - The U.S. is focusing on domestic production of logic semiconductors, particularly for data centers, communications, and military applications, to enhance economic security [2] Group 2: Investments and Developments - TSMC plans to invest $100 billion to establish three advanced logic semiconductor factories in the U.S., along with two advanced packaging facilities and a research base [3] - SK Hynix will invest $4 billion to build an HBM production facility and R&D center in Indiana, USA [3] - The U.S. aims to create a complete production system for AI semiconductors domestically, integrating design, production, and packaging processes [3] Group 3: Geopolitical Context - The geopolitical risks from U.S.-China tensions and the Ukraine conflict have prompted countries to strengthen semiconductor domestic production [4] - Japan is also increasing its support for the semiconductor industry, proposing over 10 trillion yen in public support to enhance AI and semiconductor capabilities by 2030 [3]