External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

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External broker reports(aggregated public sources)

SK Hynix 3Q24 Inline, 4Q Close to Consensus, HBM Visibility Is Very High, the Stock Is Very Cheap

Semiconductor Memory Q324 Revenue Close To Historic Highs Even As Decoupling Intensifies

TSMC, UMC, Global Semi Monthly Sales: Small Acceleration

Equity Bottom-Up

<ul><li>SK hynix estimated to post revenue of W18.3tn (+11% QoQ), OP of W7.0tn (+27% QoQ) for 3Q24</li><li>Value-added HBM/DDR5/LPDDR5 likely drove revenue growth; further gains expected in 2H24</li><li>Earnings growth poised to continue through 4Q24 supported by HBM3E mass production</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

SK hynix estimated to post revenue of W18.3tn (+11% QoQ), OP of W7.0tn (+27% QoQ) for 3Q24Value-added HBM/DDR5/LPDDR5 likely drove revenue growth; further gains expected in 2H24Earnings growth poised to continue through 4Q24 supported by HBM3E mass productionContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SK Hynix (000660 KS Oct 17, 2024) - HBM Effect Expected once More