Montage Technology (688008) disclosed its performance forecast on the evening of April 10, and it is expected to achieve operating income of 1.222 billion yuan in the first quarter of 2025, a year-on-year increase of 65.78%; net profit attributable to the parent company was 510 million yuan to 550 million yuan, a year-on-year increase of 128.28%-146.19%; The net profit after deduction is expected to be 485 million yuan to 525 million yuan, a year-on-year increase of 120.82%-139.03%. Based on the closing price on April 10, Montage Technology currently has a price-to-earnings ratio (TTM) of about 46.08 times to 47.16 times, a price-to-book ratio (LF) of about 7.02 times, and a price-to-sales ratio (TTM) of about 19.42 times.

Based on the average value of this disclosed performance forecast, the company's price-to-earnings ratio (TTM) chart in recent years is as follows

According to the data, the company's main memory interface chips (including MRCD/MDB chips), memory module supporting chips, CKD chips, PCIeRetimer chips, MXC chips, etc., Jintide server platform products include Jintide CPU and hybrid secure memory module (HSDIMM).

According to the announcement, in the first quarter of 2025, the company expects to achieve substantial growth in operating performance, mainly due to the following three reasons: 1. Benefiting from the trend of the AI industry, the strong demand in the industry, the continuous improvement of DDR5 penetration, the company's DDR5 memory interface and module supporting chip shipments have increased significantly, and the proportion of second and third generation RCD chip shipments has increased, driving the company's memory interface and module supporting chip sales revenue to increase significantly; PCIeRetimer, MRCD/MDB and CKD) total sales revenue of 135 million yuan, a year-on-year increase of 155%; 3. With the increase in the proportion of sales revenue of DDR5 memory interface chips and high-performance transportation capacity chips, the gross profit margin of the company's interconnection chip product line has further improved.

Proofreading: Shen Nan

Indicator Annotation:

P/E ratio = total market capitalization / net profit. When the company loses money, the P/E ratio is negative, and it is not practical to use the P/E ratio for valuation, and the P/B ratio or P/B ratio is often used as a reference.

Price-to-book ratio = total market capitalization / net assets. The price-to-book ratio valuation method is mostly used for companies with large fluctuations in earnings and relatively stable net assets.

Price-to-sales ratio = total market capitalization / operating income. The price-to-sales ratio method is often used for growing companies that are losing money or making small profits.

The price-to-earnings ratio and price-to-sales ratio in this article are calculated using the TTM method, that is, the data for the 12 months up to the latest financial report (including forecast). The price-to-book ratio is calculated using the LF method, that is, based on the latest financial report data. The quantile calculation range of the three is from the company's listing to the latest announcement date.

When the P/E ratio and price-to-book ratio are negative, the current quantile is not displayed, which will cause the line chart to be interrupted.

(Article source: China Securities Journal, China Securities Network).