On May 10th, major storage control chip manufacturer Phison held an online legal conference, announcing its financial data for the first quarter and future prospects. Phison CEO Pan Jiancheng believes that NAND's original factory has resumed normal profitability since the first quarter of 2024, and therefore, if the current market prices tend to stabilize, the overall supply and demand of the industry will be relatively healthy.
On the contrary, if the NAND market price rises rapidly in the short term, it may inhibit the NAND storage capacity of end system users, resulting in foam.
Driven by the simultaneous increase in quantity and price, Phison's revenue and gross profit in the first quarter reached the second highest in history. The combined revenue in the first quarter was NT $16.526 billion (the same below), a quarterly increase of 4.9% and an annual increase of 64.0%; The consolidated gross profit margin is 33.9%, with a quarterly decrease of 2.1% and an annual increase of 2.1%; The consolidated operating profit was 1.252 billion yuan, a quarterly decrease of 18.8% and an annual increase of 49.3%; After tax net profit is 2.42 billion yuan, with a net profit after tax (EPS) of 12.02 yuan per share.
Looking ahead to the second quarter, Pan Jiancheng believes that NAND manufacturers will push up market prices in the short term, which will have an impact on the demand for consumer NAND storage. Moreover, the second quarter is a traditional off-season for consumer products, and Phison will continue to expand its NAND storage applications to maintain its gross profit margin. It is expected that both consumer and non consumer products will strengthen in the second half of the year.
It is understood that Phison's NAND storage applications include industrial control systems, esports consoles, in car applications, enterprise level SSDs, and the recently exclusive AI solution "aiDAPTIV+" from Qunlian. At the 2024 COMPUTEX Computer Show, Phison will showcase more AI solutions.
