[Special Stock] TLB Develops CXL DRAM PCB Module and Supplies Samples... Operating Profit Expected to Increase 860% This Year

TLB is showing strong performance. It appears that the stock price is influenced by the analysis that TLB will benefit as CXL, which enhances data transmission bandwidth, grows amid significant changes in the memory sector driven by artificial intelligence (AI). Valuefinder estimated that TLB will achieve sales of 213.1 billion KRW and operating profit of 28.9 billion KRW on a consolidated basis this year, representing increases of 24.4% and 863.2%, respectively, compared to last year.

As of 9:30 AM on the 6th, TLB was trading at 26,800 KRW, up 1,650 KRW (6.56%) from the previous trading day.

Lee Choongheon, a researcher at Valuefinder, explained, "CXL is a next-generation interface that connects CPUs, memory semiconductors, AI accelerators, and more to maximize data processing speed," adding, "Leading global semiconductor companies, led by Intel, have launched the CXL consortium to process more data quickly and improve server efficiency."

He continued, "With the advent of the AI era, technical discussions have accelerated, and the CXL 1.1 and 2.0 standards have been followed by the current CXL 3.0 specification," noting, "The CXL consortium currently includes more than 250 major companies such as Intel, NVIDIA, AMD, and Samsung Electronics."

He described, "The core concept of CXL 2.0 is memory pooling," explaining, "Memory pooling is a technology that creates a pool by combining multiple CXL memories on a server platform and allows memory to be allocated as needed from the pool." He emphasized, "This can dramatically increase the memory capacity per CPU, potentially increasing it by about 8 to 10 times per server."

The researcher added, "Domestic IDM companies plan to release CXL 2.0 DRAM within this year," stating, "Domestic company S developed the industry's first CXL 2.0 DRAM and aims for mass production within the year, while domestic company H announced a CXL DRAM module made with the latest DRAM standard DDR5 products."

According to market information firm Yole Group, the global CXL market size is projected to reach 15.8 billion USD (approximately 20.777 trillion KRW) by 2028. The CXL DRAM market is estimated to account for about 80% of this.

Lee said, "TLB is expected to handle the PCB modules for CXL DRAM mass production," explaining, "After completing product development in December last year, a very small quantity of sample products was supplied." He added, "The unit price of CXL products is more than twice that of existing DDR5 products, so if the CXL DRAM market blooms and mass production begins, performance growth will be possible."

The target stock price was raised from 30,000 KRW to 35,000 KRW. The researcher concluded, "With the dawn of the AI era, demand for AI semiconductors is increasing," and assessed, "TLB is positively positioned in corporate value as it is rapidly developing new products such as DDR5 MCR DIMM and CXL products in line with the times."