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2026-10-21 14:01:29 Goldman Sachs published a research report stating that MONTAGE TECH (06809.HK) announced preliminary results for the third quarter, with revenue of approximately RMB2.08 billion, up 46% YoY and 11% QoQ, in line with the bank's expectations and 1% above Bloomberg consensus estimates. The company expects third-quarter net profit to range between RMB1.2 billion and RMB1.3 billion, up 154% to 175% YoY and 4% to 13% QoQ, implying a median QoQ growth of 9%, which is 30% and 47% above the bank's and market expectations respectively. The bank said the strong growth was driven by rising server CPU demand supported by the rapid development of AI inference and Agent applications, boosting demand for memory modules and interconnect chips. Revenue from the interconnect chip product line is expected to be approximately RMB2.05 billion, up 49% YoY and 21% QoQ, broadly extending the 20% QoQ growth momentum seen in the second quarter. Gross margin is expected to reach 68% to 68.5%, improving by 0.6 ppts to 1.1 ppts from 67.4% in the second quarter. Management expects demand for interconnect chips to increase further in the fourth quarter, supported by continued growth in server CPU and memory demand, as well as higher contribution from next-generation DDR5 RCD products. The bank maintained its Buy rating on MONTAGE TECH, with a 12-month A-share TP of RMB377 for LQKJ (688008.SH) and an H-share TP of HKD500. (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |