$SKHYNIX Many friends in the market have messaged me privately to ask about Hynix. I’d like to share my personal views on a few points about Hynix: Hynix listed on Nasdaq in ADR form on July 10 (U.S. Eastern Time), raised 265 billion yuan, setting a record for U.S. IPOs by foreign companies. It rose 12.67% on the first day, with a market cap of 1.22 trillion dollars. The offering price was 149. This is the second time it has listed; the first time was in South Korea. Since AI chip compute capacity is cyclical, when storage supply releases significantly and the chip price-increase cycle ends, the gross margin will decline. In the long run, once South Korean stocks can be freely converted into ADRs, the U.S. stock premium will quickly converge to within 30%. The market may weaken, but in the short term, I believe AI inference, autonomous driving, and robotics will continue to drive HBM demand—there is likely still about 45% upside room at least over the next year! (Just my personal view, for reference.) For short-term trading, I’ll share it in the group. If you’re following along or are currently buying, feel free to come in and discuss #SK海力士ADR指导价149美元