(4th LD) SK hynix logs record profit in Q3 on AI chip supercycle

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(ATTN: ADDS CEO Kwak No-jung's comments, stock price) By Kim Han-joo

SEOUL, Oct. 28 (Yonhap) -- SK hynix Inc. said Wednesday its revenue and operating profit reached record highs in the third quarter, driven by robust demand for memory chips amid the artificial intelligence (AI) boom, while announcing a shareholder return program worth more than 100 trillion won (US$75.3 billion) for 2026.

Operating profit soared 557.2 percent from a year earlier to 83.33 trillion won in the July-September period, while revenue surged 327.9 percent on-year to 104.61 trillion won, according to the company's regulatory filing.

The global semiconductor vendor said it had posted record quarterly revenue and operating profit for six consecutive quarters since the second quarter of last year.

Net profit also hit a record 39.77 trillion won, up 215.7 percent from a year earlier.

"Amid market conditions in which prices of key products rose on growing demand for AI memory, the company once again achieved record quarterly revenue and operating profit, driven by its competitiveness in high-value-added products," SK hynix said.

SK hynix has emerged as one of the biggest beneficiaries of the AI supercyle, supplying high-bandwidth memory (HBM) chips to Nvidia Corp. while capitalizing on soaring prices of conventional memory chips.

The company's operating profit margin also exceeded 80 percent in the third quarter, setting a new record and reflecting tight supply conditions.

"Virtually all of our DRAM and HBM production capacity for the next three years through 2029 has already been sold out," SK hynix said during a conference call.

The company said the outlook reflects a combination of volumes already secured under long-term agreements and demand currently under detailed discussion with customers.

"The customer trust built through our technological competitiveness is leading to long-term contracts, and our business structure is transforming into one with earnings stability and mid- to long-term demand visibility," CEO Kwak Noh-Jung said.

SK hynix said the memory supply shortage is expected to persist through 2030 amid expanding investment in AI infrastructure.

The company said its sixth-generation HBM4 chips will become its main product starting in the fourth quarter.

The latest results also came amid renewed concerns that semiconductor demand may have peaked, fueled by questions over the profitability of investments in AI.

SK hynix said it expects the momentum behind AI investment to continue as the financial burden of AI investments on major customers eases.

SK hynix also announced an additional plan to return 60 trillion won to shareholders, following the completion of a 40 trillion-won shareholder return program last week.

Of the more than 100 trillion won in planned shareholder returns for 2026, cash dividends will account for more than 30 trillion won, the company said.

The company said it would determine dividend payments based on operating performance, provide additional returns through special dividends when it realizes substantial investment gains and continue share buybacks every quarter.

SK hynix also plans to return most of its realized gains from its investment in Japan's Kioxia Corp. through a special dividend, with payments scheduled for the third quarter and the end of the fiscal year.

SK hynix is a major investor in Kioxia, a Japanese NAND flash memory manufacturer, through a Korean-U.S.-Japanese consortium led by Bain Capital.

"Our principle has been to share the majority of the gains from successful strategic investments with our shareholders," Kwak said, adding that SK hynix will remain committed to upholding the principle so that shareholders can directly benefit from the returns from our strategic investments."

The latest announcement follows the company's decision Friday to suspend plans to list its U.S. subsidiary, Solidigm, citing market conditions.

Reports have circulated that Solidigm was considering an initial public offering in the United States as early as next year, potentially valuing the subsidiary at up to $150 billion.

The decision came amid strong shareholder opposition and regulatory scrutiny over concerns that a separate listing could undermine the interests of minority shareholders.

"The IPO was intended to raise external capital for the expansion of Solidigm's production facilities, and thereby to lighten our own investment burden and broaden our capacity for shareholder returns," Kwak said. "However, after carefully considering recent financial market conditions and other factors, we concluded that proceeding at this time would not be the best way to achieve the originally anticipated outcome."

SK hynix shares have faced sharp downward pressure, falling nearly 30 percent over the three months following the announcement of its second-quarter earnings.

On Wednesday, SK hynix shares were trading more than 10 percent higher, after the company released its earnings results before the market opened.

(LEAD) SK hynix halts review of Solidigm U.S. IPO

(4th LD) SK hynix logs record profit in Q3 on AI chip supercycle

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（注：新增CEO郭鲁正的评论及股价信息）金汉柱报道

首尔，10 月 28 日（韩联社）——SK 海力士公司周三表示，受人工智能 (AI) 热潮推动，内存芯片需求强劲，公司第三季度营收和营业利润均创历史新高。同时，该公司宣布了一项价值超过 100 万亿韩元（753 亿美元）的股东回报计划，该计划将于 2026 年实施。

根据该公司提交的监管文件，7月至9月期间，营业利润同比增长557.2%至83.33万亿韩元，而收入同比增长327.9%至104.61万亿韩元。

这家全球半导体供应商表示，自去年第二季度以来，其季度营收和营业利润已连续六个季度创下历史新高。

净利润也创下历史新高，达到 39.77 万亿韩元，比上年同期增长 215.7%。

SK海力士表示：“在人工智能内存需求不断增长，导致关键产品价格上涨的市场环境下，公司凭借其在高附加值产品方面的竞争力，再次实现了创纪录的季度营收和营业利润。”

SK 海力士已成为人工智能超级周期的最大受益者之一，它向英伟达公司供应高带宽内存 (HBM) 芯片，同时利用传统内存芯片价格飙升获利。

该公司第三季度的营业利润率也超过 80%，创下新纪录，反映出供应紧张的状况。

SK海力士在电话会议上表示：“到2029年，我们未来三年的DRAM和HBM产能几乎全部售罄。”

该公司表示，前景反映了长期协议下已锁定的销量以及目前正在与客户详细讨论的需求的综合情况。

“我们凭借技术竞争力建立起的客户信任正在促成长期合同，我们的业务结构正在向盈利稳定和中长期需求可见性的方向转变，”首席执行官郭鲁荣表示。

SK海力士表示，随着人工智能基础设施投资的不断扩大，预计内存供应短缺的情况将持续到2030年。

该公司表示，其第六代 HBM4 芯片将从第四季度开始成为其主要产品。

最新结果出炉之际，人们再次担忧半导体需求可能已经达到顶峰，而这种担忧又源于对人工智能投资盈利能力的质疑。

SK海力士表示，随着主要客户在人工智能投资方面的财务负担减轻，预计人工智能投资的势头将持续下去。

继上周完成 40 万亿韩元股东回报计划后，SK 海力士还宣布了一项额外计划，将向股东返还 60 万亿韩元。

该公司表示，在2026年计划向股东返还的超过100万亿韩元中，现金股息将占30万亿韩元以上。

该公司表示，将根据经营业绩决定股息支付，在实现重大投资收益时通过特别股息提供额外回报，并继续每个季度回购股票。

SK 海力士还计划通过特别股息的形式，将其在日本铠侠公司投资的大部分已实现收益返还给股东，股息将在第三季度和本财年末支付。

SK海力士是日本NAND闪存制造商铠侠（Kioxia）的主要投资者，其投资方为贝恩资本牵头的韩美日财团。

郭先生表示：“我们的原则是与股东分享成功战略投资的大部分收益。”他还补充说，SK海力士将继续致力于坚持这一原则，以便股东能够直接从我们的战略投资回报中受益。

此前，该公司于周五宣布暂停其美国子公司 Solidigm 的上市计划，理由是市场状况不佳。

有报道称，Solidigm 正在考虑最早于明年在美国进行首次公开​​募股，该子公司的估值可能高达 1500 亿美元。

该决定是在股东强烈反对和监管机构审查的情况下做出的，监管机构担心单独上市可能会损害少数股东的利益。

“此次IPO旨在为Solidigm的生产设施扩建筹集外部资金，从而减轻我们自身的投资负担，并扩大我们为股东带来的回报，”郭先生表示。“然而，在仔细考虑了近期金融市场状况和其他因素后，我们认为此时进行IPO并非实现原先预期目标的最佳途径。”

SK海力士股价面临大幅下行压力，在公布第二季度财报后的三个月内下跌了近30%。

周三，SK海力士股价上涨超过10%，此前该公司在市场开盘前公布了盈利报告。

（导语）SK海力士暂停对Solidigm美国IPO的审查

（第四季度）SK海力士第三季度利润创历史新高，得益于人工智能芯片超级周期