Isu Petasys is showing strong performance. This is interpreted as being influenced by securities firms' forecasts that the earnings of domestic printed circuit board (PCB) companies will improve starting from the second quarter.
As of 10:51 AM on the 28th, Isu Petasys is trading at 10,370 KRW, up 12.47% compared to the previous day.
Park Kang-ho, a researcher at Daishin Securities, stated on the 28th, "The quarterly earnings trend of PCB companies in 2023 is expected to show the first quarter as the low point, improvement in the second quarter (increase compared to the previous quarter), and recovery in the third quarter."
Accordingly, the combined operating profit of nine PCB companies (Samsung Electro-Mechanics, LG Innotek, Semtech, Daeduck Electronics, Korea Circuit, Interflex, TLB, BH, and Isu Petasys) for the second quarter is projected to be 220.8 billion KRW, an increase of 52.7% compared to the first quarter.
The semiconductor industry's downturn is cited as the main reason for the expected poor performance of PCB companies in the first quarter of this year.
Due to a decrease in shipments and inventory adjustments by semiconductor companies, sales of substrates centered on BGA are understood to have significantly declined. As a result, PCB companies are expected to experience a decline in operating profit margins overall, due to increased fixed cost burdens from lower utilization rates and price reductions on some products.
Isu Petasys is considered a beneficiary of the increased demand for multi-layer communication boards (MLB).
Researcher Park said, "With the expansion of artificial intelligence and cloud environments this year, investments in servers and networks will continue, leading to increased demand for multi-layer communication boards," and added, "Isu Petasys's operating profit in 2023 is expected to increase compared to the previous year, showing differentiated performance within the PCB industry."
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