On October 8, CXMT Corporation (688825) fell more than 7% during intraday trading, marking its largest single-day decline since going public. By the midday close, the stock was down 6.79% at 51.07 yuan per share, with a latest total market capitalization of 3.47 trillion yuan.
On the very same day, South Korean memory chip giant Samsung Electronics Co., Ltd. (SSNLF) released its third-quarter earnings guidance, delivering what can only be described as a stunning report card. The data showed that the company's operating profit for the third quarter surged 782.5% year-on-year to 107.4 trillion Korean won, equivalent to approximately 540 billion yuan. Revenue for the same period grew 126.6% year-on-year to 195 trillion Korean won. This also marks the first time a South Korean company's quarterly operating profit has surpassed the one-hundred-trillion won milestone.
Looking back at historical data, Samsung Electronics Co., Ltd. (SSNLF) began its earnings upcycle in the fourth quarter of last year, when both revenue and operating profit hit record highs, and has since continued to set new records for three consecutive quarters. The company's operating profit in the third quarter of this year is already about 1.5 times higher than its full-year profit level of 43.6 trillion Korean won last year.
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