
AI-generated summary
Nandian is an IC carrier board manufacturer. Recently, it has benefited from the tight supply and demand of carrier boards and the growing demand for AI servers, and its profits have improved significantly.
China Southern Electric's profits jumped, and its stock price hit a new high today. (Taken from the official website)
[Reporter Zhuo Yijun/Report from Taipei] IC substrate manufacturer Nandian (8046) announced last week that its net profit after tax in August was 1.092 billion yuan, an annual increase of 664.93%. After the share price of Nandian opened at a flat price today, it once fell into the black. As Xinxing (3037) surged, buying orders from Nandian also came in, and the stock price sharply pulled up. It reached a maximum of 1,535 yuan in early trading, setting a new high listing price.
As of around 9:59, Nandian's stock price rose 4.79%, temporarily trading at 1,530 yuan, with a trading volume of approximately 7,797 contracts.
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China Southern's consolidated revenue in September was 5.586 billion yuan, a monthly increase of 4.36%, and an annual increase of 57.82%. In the third quarter, consolidated revenue was 16.378 billion yuan, a quarterly increase of 20.64%, and an annual increase of 49.34%. The cumulative consolidated revenue in the first nine months of this year was 41.13 billion yuan, an annual increase of 41.79%. Asian foreign investors pointed out that China Southern Electric’s pre-tax net profit margin in August was 27.8%. It is expected that the impact of external and operating expenses in August will be limited. It is estimated that the gross profit margin in August should have reached 30 to 31%. As the yield rate of China Southern Electric’s Kunshan plant improves in August, the company’s gross profit margin is expected to rise to about 30%. In addition, the tight supply and demand of BT carrier boards will push the price increase to accelerate again in 2027.
U.S. foreign investors estimate that China Southern Electric’s BT carrier boards and ABF carrier boards are expected to continue to increase in price from this quarter to next year. The gross profit margin of the ABF carrier board business next year is expected to be 50%. In addition, China Southern Electric has recently received new orders related to AMD (Super Micro) server CPU carrier boards. AMD’s server CPU carrier board business may account for more than 20% of revenue next year.
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AI outlook — possibilities, not facts
Nandian ABF carrier board gross profit margin will reach 50% next year
Likely · Within months
Nandian will receive more server CPU carrier board orders from AMD
Possible · Within months

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