[Click eStock] “Haesung DS, High-Value DDR5 Package Substrate Sales Growth”

On the 31st, BNK Investment & Securities analyzed that Haesung DS's high-value-added DDR5 package substrate sales growth will drive performance improvement.

Lee Min-hee, a researcher at BNK Investment & Securities, stated in a report on the same day, "Haesung DS's sales in the second quarter of this year reached 179.2 billion KRW, in line with expectations." He explained, "Looking at detailed sales, automotive semiconductor lead frame (SLF) sales amounted to 70.1 billion KRW, falling 8% short of expectations due to customer inventory adjustments, but package substrate sales recorded 67.5 billion KRW, exceeding expectations by 13% due to the ASP increase effect from the rising proportion of DDR5 sales."

Researcher Lee Min-hee analyzed, "In the second half of the year, SLF sales are expected to gradually recover again, maintaining stable performance, while the contribution of high-value-added DDR5 within package substrates will further expand, driving overall performance improvement. DDR5 sales in the first half amounted to 26.1 billion KRW, accounting for 19% of total package substrate sales."

He added, "Samsung Electronics, which was slow to respond to the initial market, had a DDR5 proportion of only the 10% range within server DRAM at the end of the second quarter this year, significantly lagging behind competitors. To make up for this, it plans aggressive production expansion to a 40% proportion by the end of the year," and forecasted, "Haesung DS is expected to benefit."