The author is an analyst of NH Investment & Securities. He can be reached at jinmyung.choi@nhqv.com. -- Ed. Order backlog to continue expandingWe maintain a Positive rating on the shipbuilding sector in light of expanding order backlogs and solid top-line growth. Combined 4Q21 new orders at the top-
COVID-19 self-test kit exports from South Korea are increasing again with regard to the omicron variant spreading worldwide.This month, SD BioSensor signed large-scale contracts with the United States and Singapore. Specifically, the contracts total 136.9 billion won and the supply to Singapore is i
Automotive operating system (OS) development is accelerating along with vehicle electrification. Nowadays, automotive electrical and electronic architectures are becoming increasingly centralized, that is, a small number of electronic control units covering a wide variety of functions. This is more
The United States has made clear its intention to reorganize the semiconductor manufacturing ecosystem around the United States. U.S. President Joe Biden and Intel CEO Pet Gelsinger announced on Jan. 21 (U.S. local time) that Intel will invest US$20 billion to build two semiconductor production plan
Bloomberg reported on Jan. 22 that IBM would sell off its Watson Health to private equity firm Francisco Partners for US$1 billion or more. According to IBM CEO Arvind Krishna, this is to focus more on the cloud computing market, which is growing faster.Some point out that the price is too low. “Alt
An affiliate of OK Financial Group is reportedly going through an intensive tax probe by the National Tax Service (NTS).Dozens of NTS officials raided the consumer finance group's main office in Jung-gu, Seoul on the morning of Jan. 18.Industry insiders believe that the NTS has detected evidence
Domestic semiconductor design companies are expected to have difficulty in producing prototypes in the first half of this year as their demand for multi-project wafer (MPW) arrangements, which support prototyping, is concentrated in this period.MPW arrangements involves the manufacturing of multiple
Samsung Electronics regained the top spot of the global semiconductor market last year on the back of sales growth of memory semiconductors amid the spread of COVID-19.Samsung Electronics beat Intel in terms of sales for the first time in three years, Gartner said on Jan. 20.In 2021, Samsung Electro
The author is an analyst of NH Investment & Securities. He can be reached at hwdoh@nhqv.com. -- Ed. ASML has released its 4Q21 results, which fell short of consensus, and presented sluggish guidance for 1Q22. Main factors include parts and supply chain issues caused by Covid-19 and the fire at a Ber
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Revise down target price 5%; stock to trend upward We maintain BUY on BGF Retail but revise down our TP by 5% to KRW210,000, as we lower 2022E and 2023E OP by 6% each. Expectations for 4Q21 earnings include
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Widening metaverse client base expected to include Big Tech firms We maintain BUY and our TP of KRW500,000 (12.3x 2022E P/E) on LG Innotek, as the company’s metaverse client base should widen, including Big Tec
Samsung Electronics is speeding up research and development (R&D) of 3D DRAMs. The semiconductor giant has started to reinforce related organizations, such as recruiting personnel.In the past, DRAMs were produced by lining up transistors and capacitors on a plane. However, as DRAM capacity exceeded
Samsung Electronics launched the Exynos 2200, a premium mobile application processor (AP) created in partnership with AMD, on Jan. 18. Samsung has collaborated with AMD for about two and a half years to develop the product. It will go into the Galaxy 22, which will be launched next month.The Exynos
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Maintain BUY, raise target price 14% to KRW160,000 We maintain BUY on SK hynix and raise our 12m TP by 14% to KRW160,000 (12m fwd BVPS x 1.6x target P/B). We revise up 2022E/2023E NP (attributable to controllin
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Maintain HOLD; lower target price 17% to KRW170,000 We maintain HOLD on Amorepacific and lower our TP by 17% to KRW170,000 given downward revisions to 2022E/2023E OP by 15%/17%. We do not expect the stock t
SMLAB, a company set up by a professor of the Ulsan National Institute of Science and Technology, announced on Jan. 17 that it has developed the world’s first manganese- and nickel-based single-crystal cathode material and the energy density of its development is at least 200 percent of that of an L
Samsung Electronics is expected to introduce a foldable laptop soon, following the success of foldable smartphones.According to the World Intellectual Property Organization (WIPO) on Jan. 16, Samsung Electronics filed an application for a patent for “a multi-foldable electronic device” on Jan. 13.Th
The author is an analyst of KB Securities. She can be reached at leesunhwa@kbfg.com. -- Ed. Maintain BUY, target price of KRW500,000 We maintain BUY and our TP of KRW500,000 on HYBE, which should post record-high quarterly OP in 4Q21. We expect inorganic growth supported by steady expansion of mains
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. CJ ENM’s 4Q21 OP should come in around W88.1bn, missing consensus. The success of TVING exclusive content Drunken City Women and the firm’s own IP INI for its music business are encouraging, but co
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. Raise target price 25% to KRW500,000 We maintain BUY on LG Innotek and raise our TP by 25% from KRW400,000 to KRW500,000 (12.2x 2022 P/E). We see the company playing a key role within self-driving vehicle and m