Three storage vendors released their latest financial reports
By
Maggie
/ January 15, 2024
Recently, Macronix, Phison Electronics, and Nanya announced their latest financial reports and expressed their views on market conditions. Macronix: Q2 demand is expected to be slightly better On January 8, Macronix announced that its revenue in December 2023 was NT$1.833 billion, a monthly increase of 1.3% and an annual decrease of 29%; in the fourth quarter of last year, revenue was NT$5.807 billion, an annual decrease of 36.02% and a quarterly decrease. 20.25%. Full-year revenue in 2023 will be NT$27.624 billion, a year-on-year decrease of 36.5%. Macronix’s estimated investment amount is NT$511 million. In response to the company’s operational needs, it is expected to invest successively starting from the first quarter of 2024. The funding sources will be its own funds and bank financing. Macronix Chairman Wu Minqiu previously said that he does not believe that the overall industry will have a spring this year. He can only say that demand is expected to be slightly better in the second quarter. However, since the inventory levels of Macronix's customers in mainland China and Japan are still high, operating performance in 2024 is expected Similar to last year. Phison Electronics: The toughest period for the market has passed Phison Electronics announced its operating results for December 2023, with consolidated revenue of NT$5.182 billion, an increase of nearly 30% over the same period in 2022, a record high for the same period in history. Overall revenue in the fourth quarter of 2023 reached NT$15.748 billion, an increase of more than 28% compared with the same period in 2022, which was the second highest in the same period in history. Cumulatively, the cumulative revenue in 2023 will reach NT$48.222 billion, a growth of -19% compared to 2022. Phison said that in 2023, the cumulative total shipments of PCIe SSD modules will grow by 20%, a new high for the same period in history; and the annual growth rate (Bit Growth Rate) of the total number of NAND storage bits shipped throughout the year will also exceed 30%, a new record high for the same period in history, indicating that the overall market demand continues to recover slowly. Coupled with the unchanged attitude of NAND original manufacturers to reduce production and increase prices, it is expected to help balance the overall supply and demand and stimulate end system customers to continue to steadily place orders to satisfy the market. demand and inventory replenishment. Phison emphasized that the annual growth rate of revenue in the fourth quarter of 2023 has increased significantly, indicating that the most difficult situation in the NAND storage market has passed. Phison continues to actively use its IC design capabilities to help global customers create higher value-added NAND storage solutions. In the fourth quarter, it also successfully won many design-win customer cooperation cases, such as RetimerIC, aiDAPTIV+ solution, and automotive storage. , PCIe5.0 SSD, etc., are expected to gradually contribute to revenue in the next quarter of 2024. Phison emphasized that in view of the fact that the company continues to expand the market and operation scale in the NAND storage application field, and continues to invest in the research and development of more advanced NAND control chip technology, in addition, global customers continue to require Phison to provide more customized services and new technologies. For the cooperation case, the company will gradually expand its R&D scale and expenditures based on market and customer needs, recruit more suitable R&D talents, and continue to build a more robust technical foundation and growth momentum. Nanya: Shipments are expected to continue to be optimized in 2024 On January 10, memory giant Nanya announced its self-settled consolidated financial report for the fourth quarter of 2023 as of December 31. Operating income in the fourth quarter was NT$8.704 billion, an increase of 12.5% from the third quarter. The average selling price of its DRAM business increased by a low single-digit percentage quarterly, and its sales volume increased by a low-teens percentage quarterly. Nanya's board of directors originally approved a capital expenditure budget of NT$18.5 billion for 2023, but the actual expenditure was NT$13.2 billion. Among them, NT$4.4 billion will be deferred to 2024. Nanya said that capital expenditure in 2024 is expected to be approximately NT$20 billion, which is yet to be approved by the board of directors. In terms of process development, Nanya’s 10-nanometer second-generation process technology (1B) 8Gb DDR4 and 16Gb DDR5 products are planned to be introduced into production in 2024. Nanya said that the supply side has benefited from the benefits of production reduction. Nanya's inventory has begun to be reduced. At the same time, demand and price conditions have gradually improved. The loss in the fourth quarter of last year is expected to narrow. Shipments in 2024 are expected to continue to be optimized, including mobile phones, Server area.