Nanya: price convergence and DRAM will fall into the traditional peak season

Nanya still have t $0.68 EPS season 1, looking to DRAM prices decline since season 2 convergence, plus interest t $2.8, yield more than 7.3%, and the subfamily in China all equity injections, seen throughout the year to make a equity, nearly three days, foreign capital even buy and a total of nearly 3700 table hold shares fell.

Nanya season 1 is affected by the degrees of loss, but the overall operation of better than expected, profit t $0.68 per share, looking forward to season 2 expected DRAM prices drop convergence to less than 5%, and look at the second half of the market supply and demand could be balanced, prices will be stable.

Nanya were 1 quarter turn mainly by poor investment performance, but even with month exchange nt $260 million loss, the loss of nt $379 million and recognized China, Nanya quarterly after-tax profit t $1.849 billion, compared to last year, only slightly decreased by 1.1% for the fourth season, profit t $0.68 per share.

Looking forward to this season, Nanya general manager Li Peiying said the season 2 standard DRAM prices are still down pressure, however, will the season 1 to reduce falls in season 2.The traditional peak season, looking forward to the second half of the year, will enter industry as Korean manufacturers to cut capital platform scale, the market in the second half of the supply and demand is expected to be balance, prices will be stable.

DRAM fundamentals to gradually improve,Nanya will punish China subfamily all equity, is expected to inject surplus about nt $7 per share, have the opportunity to earn a challenge this year equity, some foreign dividend still has high level next year.