SpaceX will deploy V3 satellites, Huatong’s shipment momentum is strong

SpaceX is about to deploy V3 satellites, and Huatong has strong shipment momentum. (provided by the company)

[Reporter Zhuo Yijun/Taipei Report] SpaceX (Space Exploration Technology Company) plans to conduct the 14th flight test of Starship as soon as the 22nd of this month. This flight test will deploy the first batch of third-generation Starship (Starlink) for the first time. V3) satellite, SpaceX's stock price soared 5.15% yesterday. HDI leader Huatong (2313) is the largest supplier of SpaceX space boards. The V3 satellite has significantly improved in size, weight and transmission efficiency. The number of PCB layers has increased from less than 18 layers to more than 20 layers. This has led to an increase in the PCB usage and value of a single satellite. Huatong is expected to benefit the most.

Huatong's stock price opened high early in the morning, rising by nearly 5%, in an attempt to counterattack the monthly line. As of about 9:36, Huatong's stock price rose 2%, temporarily trading at 229.5 yuan, with a trading volume of more than 10,800 contracts.

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Huatong said that satellite customer demand is positive this year. In the first quarter, shipments were limited due to the extended delivery time of raw material supply. However, the supply of materials has gradually improved recently. The shipment of satellite products in the second quarter has also increased compared with the previous quarter. The second half of the year will usher in the continued launch of Starship rockets and the stable deployment of V3 satellites. Upstream materials industry New production capacity is being opened one after another, and the supply of raw materials is expected to gradually improve. The global low-orbit satellite industry will enter a period of accelerated growth. Satellite upgrades will drive an increase in the value of related components. The revenue scale of low-orbit satellites will continue to expand and their proportion will increase, which will further boost the company's revenue scale and profit performance.

The legal person predicts that Huatong's revenue in the third quarter is expected to increase by 17% quarter-on-quarter, driven by the peak season of mobile phones, the increase in optical module volume, and the specification upgrade of V3 satellite boards. Huatong has acquired a large number of laser drilling machines, electroplating lines and other equipment, and has the opportunity to quickly increase the revenue of high-end optical modules mSAP month by month in the third and fourth quarters. With the improvement of product structure, the overall gross profit margin will steadily increase quarter by quarter this year, and the proportion of optical module revenue next year is expected to reach 20%, driving significant profit growth.

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