21st Century Business Herald reporter Ou Xue reported from Shenzhen

On the evening of January 23, BIWIN Storage (688525. SH) disclosed its 2024 annual results forecast, and it is expected that net profit will turn into a profit.

According to the announcement, according to the preliminary calculation of the financial department, BIWIN Storage expects to achieve operating income of 6.5 billion yuan to 7 billion yuan in 2024, an increase of 2.909 billion yuan to 3.409 billion yuan compared with the same period last year, a year-on-year increase of 81.02% to 94.95%.

At the same time, BIWIN Storage expects to achieve a net profit attributable to the parent company of 160 million yuan to 200 million yuan in 2024, an increase of 7.84 yuan to 824 million yuan compared with the same period last year, a year-on-year increase of 125.63% to 132.03%.

It is worth noting that the company's share-based payment expenses in 2024 will be about 345 million yuan. After excluding share-based payment expenses, the company expects to achieve a net profit attributable to the parent company of 505 million yuan to 545 million yuan in 2024, a year-on-year increase of 202.43% to 210.54% compared with the same period last year.

In addition, in terms of non-net profit attributable to the parent company, BIWIN Storage will record about 65 million yuan to 90 million yuan in 2024, an increase of 707 million yuan to 732 million yuan compared with the same period last year, a year-on-year increase of 110.13% to 114.02%.

In fact, in 2023, the storage industry will collectively be mired in a "quagmire" of losses. From the perspective of the storage giants, Samsung's semiconductor business lost a record 14.88 trillion won in 2023, SK hynix lost 7.73 trillion won in operation, and Micron Technology on the other side of the ocean lost $5.833 billion in fiscal 2023.

For BIWIN Storage, there will be no increase in revenue in 2023, especially the sharp decline in net profit and a loss of 624 million yuan, far exceeding the total profit of 234 million yuan from 2019 to 2022.

Regarding the reasons for the significant increase in performance, BIWIN Storage said that this is mainly due to the recovery of the storage industry and the continuous growth of the smart wearable storage business.

The company's announcement said that the storage industry has recovered, and the company's business has grown significantly. In 2024, the company will vigorously expand first-line mobile phone and PC customers at home and abroad, achieving a breakthrough in market and business growth, with a significant year-on-year increase in product sales, and the company's operating income increased by 81.02% to 94.95% year-on-year.

At the same time, the company's revenue from smart wearable storage products in 2024 will be about 800 million yuan, a significant year-on-year increase. In 2025, with the increase in the volume of AI glasses, the company's cooperation with key customers such as Meta will continue to deepen, which will promote the continuous growth of the company's smart wearable storage business.

BIWIN Storage previously told investors that from the perspective of downstream demand, the market demand in the fourth quarter of 2024 has recovered compared with the third quarter, and the main driving factors are customer inventory digestion and the peak season of traditional consumer electronics.

However, it is worth noting that Shanxi Securities, Great Wall Securities and Soochow Securities previously expected BIWIN Storage's net profit attributable to the parent company in 2024 to be 342 million yuan, 341 million yuan and 340 million yuan respectively, which exceeded BIWIN's own estimate of 160 million yuan to 200 million yuan.

Looking forward to 2025, BIWIN Storage previously told investors that in 2025, the company will further expand other leading customers in the mobile phone business and increase the penetration rate of existing customers, and the company remains optimistic about the mobile phone storage business in 2025.

At the same time, it can be seen that the development of AI large models will continue to promote the development of AI mobile phones and the volume of smart wearables. BIWIN Storage replied on the investor interactive platform that the company is expected to benefit from the development of AI mobile phones.

On January 24, the memory chip sector rebounded. Demingli hit the daily limit in the afternoon, Xiechuang Data and Focuslight Technology rose by more than 5%, and Longsys, Changdian Technology, BIWIN Storage, Tongyou Technology, Wanrun Technology, etc. followed suit.

As of the close of trading on January 24, BIWIN Storage closed at 63.08 yuan per share, up 3.55%, with a turnover of 1.18 billion yuan, a turnover rate of 5.96%, and a market value of 27.203 billion yuan.