블루 웨이브 국장 관련주를 찾아보자 — Transcript

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1. 0:01Hello. I am an investor in swimming
2. 0:02stocks.
3. 0:03There was a U.S. midterm election
4. 0:05yesterday.
5. 0:08With what is called a "Blue Wave," the
6. 0:09Democratic Party received a record
7. 0:11number of votes.
8. 0:12The Democrats are sweeping even
9. 0:15traditional Republican regions like
10. 0:17Texas and Kansas. This is what they call
11. 0:20a "Blue Wave."
12. 0:21In relation to this, let's take a look
13. 0:23at relevant stocks in the Korean market
14. 0:24.
15. 0:26First, I’ve organized the sectors that
16. 0:28rose when the market opened today. Bio
17. 0:30was the strongest.
18. 0:32Bio seems to be rising due to the
19. 0:34benefits of the expansion of the U.S.
20. 0:36Obamacare health insurance. Since bio
21. 0:38had lost its supply and demand to
22. 0:40semiconductors and was at a low point,
23. 0:42it seems to be rebounding a bit more in
24. 0:44terms of market flow. Hyundai Motor also
25. 0:47fell significantly, but as Trump's
26. 0:49influence wanes, it seems to be
27. 0:51highlighted as a beneficiary of tariff
28. 0:53repeal.
29. 0:54Cosmetics and beauty, such as APR or
30. 0:56Silicon Two, are the representative
31. 0:58stocks.
32. 0:59These also rose on expectations of
33. 1:01benefiting if tariffs are repealed and
34. 1:03consumption expands. Aviation and travel
35. 1:06are the same.
36. 1:07They rose slightly on expectations of
37. 1:09increased consumption.
38. 1:10Platforms like Naver and Kakao are also
39. 1:13showing a good trend.
40. 1:16With the recent surge in capital costs,
41. 1:18they are rising because their cash flow
42. 1:20is strong, which is being highlighted.
43. 1:23Of course, some of it is a rebound
44. 1:24because they had fallen so much.
45. 1:26Entertainment stocks also seem to be
46. 1:27rising because they had fallen
47. 1:28significantly.
48. 1:29And the Chinese semiconductor GALT,
49. 1:32which I mainly invest in, was also
50. 1:34rising due to the easing of Trump's
51. 1:37semiconductor sanctions.
52. 1:40So, this is an article. It's an article
53. 1:42about the rise of Chinese semiconductors
54. 1:44, and with the U.S. midterm elections
55. 1:45solidified as a Democratic victory, this
56. 1:47part is important: stock prices for
57. 1:49South Korean and Chinese semiconductors
58. 1:51diverged significantly in Asian markets
59. 1:52. South Korea and China.
60. 1:55Domestic semiconductor companies were
61. 1:57highlighted due to intensified
62. 1:58regulations as the Democrats took
63. 1:59control of Congress.
64. 2:01Because if data centers are delayed, the
65. 2:03demand for semiconductors that go into
66. 2:05them is bound to be delayed as well. Of
67. 2:08course, prices might rise, but if this
68. 2:11demand is delayed, even if an overall
69. 2:14LTA contract was signed, whether this
70. 2:16LTA contract will be maintained is
71. 2:19questionable; for instance, if memory
72. 2:22prices drop by 30%, it might hold, but
73. 2:25if they drop by nearly 50%, there's no
74. 2:28real incentive to maintain it.
75. 2:31Of course, I believe it will be
76. 2:33maintained, but if memory prices drop
77. 2:35suddenly like this, it is not a very
78. 2:37good situation for sentiment.
79. 2:40That is why stock prices are falling.
80. 2:43And since Chinese semiconductor
81. 2:45companies are already excluded from the
82. 2:46U.S.-led supply chain, Trump's defeat
83. 2:48acted as a positive factor.
84. 2:50Of course, the Democratic Party is also
85. 2:52checking Chinese semiconductors as they
86. 2:54should. However, since President Trump
87. 2:56is much more intuitive and aggressive in
88. 2:59his containment, the market is
89. 3:01rebounding now that the initial blow has
90. 3:03been dealt.
91. 3:04In Hong Kong as well, the semiconductor
92. 3:06sector has risen significantly.
93. 3:08Hua Hong Semiconductor, an 8-inch
94. 3:10specialty foundry, also soared nearly to
95. 3:12its daily limit.
96. 3:14I heard that SMIC, China's largest
97. 3:16foundry, also rose significantly.
98. 3:19Chinese semiconductors are already cut
99. 3:22off from the U.S. market, so they are
100. 3:25free from U.S. election risks, and as
101. 3:28bad news emerges from the Korea-U.S.
102. 3:31-Japan semiconductor alliance, China
103. 3:34seems to be gaining attention again.
104. 3:41I actually visited GRT locally this past
105. 3:44July. That’s when I asked them about it
106. 3:46. I said, "GRT has large semiconductor
107. 3:48revenue, but there's no information on
108. 3:49which companies you supply to."
109. 3:50When I asked them to tell me, they
110. 3:53replied with companies like JCET, SMIC,
111. 3:55Hua Hong Semiconductor, and Taiwan's ASE
112. 3:57.
113. 3:58And so on. Et cetera. There are other
114. 4:00companies as well. They didn't tell me
115. 4:02exactly who.
116. 4:03To briefly explain, JCET is a leading
117. 4:05Chinese semiconductor back-end packaging
118. 4:06and testing company, and it is a very
119. 4:08large firm.
120. 4:09They even have a branch in Korea. They
121. 4:11have a Korean branch and are a global
122. 4:13company. Although it is a Chinese
123. 4:15company, SMIC is also very famous.
124. 4:18SMIC is China's largest foundry and an
125. 4:21enormous company; these four companies
126. 4:24do not lag behind in terms of sales.
127. 4:27Based on last year's figures, at least.
128. 4:29They are all among the top 10 Chinese
129. 4:32semiconductor companies. They are very
130. 4:34large corporations. So, I predict that
131. 4:36GRT likely answered by focusing on these
132. 4:39major companies. And Hua Hong
133. 4:41Semiconductor is also a specialty
134. 4:42process foundry in China, an 8-inch
135. 4:44specialty process foundry. It is a very
136. 4:46large company.
137. 4:47And Taiwan's ASE is...
138. 4:51It is one of the world's largest
139. 4:52semiconductor packaging and testing
140. 4:53companies. It is a back-end process
141. 4:54company. Yes, it's the world's largest.
142. 4:56Almost. So they are supplying to these
143. 4:58major companies.
144. 5:00It is explained here. With market caps
145. 5:02of 35 trillion, 100 trillion, 45
146. 5:04trillion, and 140 trillion won, they are
147. 5:07very large companies.
148. 5:08And the products GRT supplies can also
149. 5:10be predicted to some extent. This is for
150. 5:13wafer cutting, involving UV adhesive
151. 5:16films, PVB protective films, and wafer
152. 5:19dicing; this part can be seen as
153. 5:21somewhat similar to DB HiTek.
154. 5:24It connects to the automotive
155. 5:25semiconductor sector.
156. 5:27It is estimated that they supply items
157. 5:29like water-cutting protective films and
158. 5:30wafer-protecting UFN packaging films. I
159. 5:33inferred this by looking at things like
160. 5:35GRT's website and their product
161. 5:37offerings.
162. 5:41I wrote a post back on June 8, '26,
163. 5:42about how we should look at GRT's
164. 5:44semiconductor materials during the
165. 5:46semiconductor correction phase.
166. 5:48At that time, Hynix and Samsung
167. 5:49Electronics were doing very well. Since
168. 5:51it was June.
169. 5:52They were doing quite well in June, but
170. 5:54started to decline from July.
171. 5:57I mentioned that checking GRT’s
172. 5:58semiconductor earnings could serve as an
173. 6:00indicator to estimate the memory market
174. 6:02conditions; although there wasn’t much
175. 6:04to it then, looking back now, we can
176. 6:06indeed estimate the market trend as
177. 6:08Chinese semiconductors grow and face
178. 6:10slight fluctuations.
179. 6:12This is the last part. Chinese
180. 6:13semiconductors were also the final
181. 6:15conclusion.
182. 6:16If a narrative of "chasing Chinese
183. 6:18semiconductors" against "Chinese
184. 6:19semiconductor dominance" emerges,
185. 6:21GRT could receive significant attention
186. 6:24.
187. 6:25I believe the reason why Chinese
188. 6:26semiconductor stocks hit the ceiling and
189. 6:29GRT has been performing well for two
190. 6:31consecutive days following the recent "
191. 6:33Blue Wave" Democratic victory is that
192. 6:35this narrative of "chasing Chinese
193. 6:37semiconductors" is finally taking off in
194. 6:39earnest.
195. 6:41Furthermore, GRT's CAPEX is wrapping up
196. 6:44, and profits are beginning to emerge.
197. 6:47With the narrative in place and aligning
198. 6:49with the mega-trend of Chinese
199. 6:51semiconductor growth, along with its
200. 6:53classification in the Korean market as a
201. 6:55semiconductor materials stock—as it will
202. 6:58soon rank first in sales proportion—and
203. 7:00a shift in perception toward Chinese
204. 7:03semiconductors, I predict the stock
205. 7:05price will likely trend upward.
206. 7:09This is a post written just yesterday by
207. 7:12a blogger named "Dragon's Path."
208. 7:14They wrote that the U.S. Blue Wave has
209. 7:17led to a boom in Chinese semiconductors
210. 7:20and that "the answer is GRT," noting
211. 7:22that numerous "answers" are pouring out
212. 7:25in various directions for the company.
213. 7:28So, they wrote about exploring why GRT
214. 7:30is the answer based on their experience
215. 7:32investing in various stocks. I also
216. 7:34agree with the point about a macro
217. 7:36inflection point.
218. 7:38The U.S. midterm elections resulted in a
219. 7:39Democratic win, creating an inflection
220. 7:41point.
221. 7:42And there is a high possibility that the
222. 7:44Democrats will sweep the presidential
223. 7:45election two years from now as well.
224. 7:47Since the current trend is so strong, it
225. 7:51is highly likely that this "Blue Wave"
226. 7:55inflection point will continue for
227. 7:58several years to come.
228. 8:02Looking at it from an industrial
229. 8:03paradigm perspective,
230. 8:06The U.S. has continuously restricted
231. 8:08high-tech equipment exports to China,
232. 8:11which paradoxically forced the Chinese
233. 8:13government to foster its own
234. 8:14semiconductor industry even more.
235. 8:18Especially with CXMT and Huawei's GPUs,
236. 8:21China has achieved self-reliant growth,
237. 8:24and if the Democratic Blue Wave leads to
238. 8:28even slight easing, the Chinese
239. 8:30semiconductor industry is bound to grow
240. 8:34even further.
241. 8:37Therefore, the Chinese semiconductor
242. 8:38industry is currently in a major boom.
243. 8:40You can tell just by looking at GRT's
244. 8:41earnings.
245. 8:43A 153%increase in a half-year is not
246. 8:46just a typical boom; it is a true major
247. 8:48boom, a super-cycle currently underway.
248. 8:51Of course, it hasn't received much
249. 8:53attention in Korea yet, but I think the
250. 8:55recent Blue Wave could serve as an
251. 8:57opportunity for it to gain some focus.
252. 8:59And there is also extreme undervaluation
253. 9:02. It is indeed a key beneficiary of the
254. 9:03value chain.
255. 9:04GRT produces heat dissipation materials
256. 9:06, which address the most critical
257. 9:07bottleneck in the process of upgrading
258. 9:09China's AI servers and semiconductors:
259. 9:11thermal control.
260. 9:12This is GRT.
261. 9:14GRT is currently testing its heat
262. 9:16dissipation films in environments for
263. 9:18NVIDIA and Huawei, and it is said to be
264. 9:20receiving good evaluations. It is
265. 9:22currently ridiculously undervalued, with
266. 9:25a PER of 2 and a PBR of 1. Even
267. 9:27industries in decline don't typically
268. 9:30see such low numbers.
269. 9:32Even sunset industries receive a PER of
270. 9:343 or 4, but a company with such great
271. 9:36growth potential and proven growth
272. 9:38figures—and with five factories
273. 9:40operating—is currently seeing 1 trillion
274. 9:42in sales, and I think reaching 5
275. 9:44trillion, even conservatively, is
276. 9:46possible in the not-too-distant future.
277. 9:49Since a company like this is receiving
278. 9:51an absurdly low valuation of 1 PBR, the
279. 9:53author wrote that it might perform well
280. 9:56in the future. They also provided three
281. 9:58reasons why the Chinese semiconductor
282. 10:01and AI boom will drive GRT's growth.
283. 10:05First, regarding semiconductors, there
284. 10:06is a direct connection to the Chinese AI
285. 10:08Liangzhou government. It was just rising
286. 10:09as a thematic stock, but it is actually
287. 10:11receiving real benefits.
288. 10:13The biggest physical limitations and
289. 10:15bottlenecks are heat and signal
290. 10:17interference; GRT has signed large-scale
291. 10:20contracts with the Liangzhou government
292. 10:22and entered the supply chain for AI
293. 10:24server parts and materials. What's great
294. 10:27about GRT's heat dissipation film is
295. 10:28that AI data centers are incredibly
296. 10:30large.
297. 10:31If you look here, there are various
298. 10:33floors and walls, and these films are
299. 10:35inserted layer by layer.
300. 10:37And of course, GRT products also go into
301. 10:41the GPUs and memory inside AI servers.
302. 10:44But if you consider this entire floor,
303. 10:46and how much heat, electromagnetic waves
304. 10:48, and heat dissipation film are being
305. 10:50applied throughout, imagine how much is
306. 10:52being used.
307. 10:54So, these GRT films are being produced
308. 10:56in very high volumes and are actually
309. 10:59being used extensively.
310. 11:01Also, for semiconductor, MLCC, and
311. 11:04high-end display processes, BOE has now
312. 11:06started its 8.6 generation line. This
313. 11:09will also be a massive beneficiary. The
314. 11:11same applies to substrates. ABF film
315. 11:13goes into substrates as well, and this
316. 11:16ABF film is a complete bottleneck.
317. 11:20Currently, it is almost exclusively
318. 11:22monopolized by one Japanese company, and
319. 11:24since lead times are getting too long,
320. 11:26China also needs to develop its own ABF
321. 11:28film.
322. 11:30I know that GRT is currently in the
323. 11:32development phase, and of course, there
324. 11:34is a Japanese company called Ajinomoto,
325. 11:35which you can look up yourself.
326. 11:39It's Ajinomoto, and if we were to
327. 11:41compare it to a Korean company, what
328. 11:44would it be?
329. 11:45That
330. 11:48It’s like Miwon, a chemical company
331. 11:50similar to Miwon Corp; because they are
332. 11:53so skilled at chemical compounding, they
333. 11:55currently hold a global monopoly on ABF
334. 11:58substrate films, but because of the
335. 12:00extreme bottleneck, companies in China
336. 12:02are currently unable to receive supplies
337. 12:04.
338. 12:06So, they are inevitably producing it
339. 12:07themselves in China, and although the
340. 12:09performance and functionality are lower
341. 12:12, companies like GRT are now replacing
342. 12:14it.
343. 12:15Yes, the important point about GRT is
344. 12:18that they are currently conducting tests
345. 12:22for AI MLCCs with S Electro-Mechanics.
346. 12:25They are doing the tests, and another
347. 12:27thing S Electro-Mechanics does is, well
348. 12:29, substrates.
349. 12:31ABF films are also used in substrates,
350. 12:33and of course, S Electro-Mechanics is
351. 12:35currently receiving supplies from
352. 12:37Ajinomoto.
353. 12:38However, as their substrate production
354. 12:40expands, Ajinomoto is increasing
355. 12:42capacity, but I heard that the
356. 12:44additional supply won't be significant
357. 12:46until 2030. In the meantime, there is no
358. 12:49such volume available. So, my personal
359. 12:51prediction is that Samsung
360. 12:53Electro-Mechanics might potentially
361. 12:55receive supplies from companies like GRT
362. 12:57, even if they are lower-cost and have
363. 12:59lower functionality.
364. 13:01It is certain that they are actually
365. 13:04receiving tests for the AI MLCC, but the
366. 13:07company probably cannot officially
367. 13:10confirm it.
368. 13:12Because these areas are, well, a bit...
369. 13:17There would likely be a non-disclosure
370. 13:18agreement in place. However, regarding
371. 13:20the substrate part, it is my prediction
372. 13:22that since even Korea cannot produce ABF
373. 13:24films and Japan has a monopoly, S
374. 13:26Electro-Mechanics needs these films, so
375. 13:28I think they might be requesting R&D
376. 13:30from companies like GRT that are already
377. 13:33related to AI MLCCs. I have actually
378. 13:35heard that GRT is currently making ABF
379. 13:37films and has even reached the product
380. 13:39stage.
381. 13:40Therefore, while these aspects may not
382. 13:42be known to the market, I see them as a
383. 13:44significant internal positive factor.
384. 13:47And the same goes for semiconductor
385. 13:50packaging, MLCCs, and foldable OLEDs.
386. 13:55Truly, companies like GRT have such
387. 13:57favorable market conditions right now
388. 14:00that many companies, including various
389. 14:02Korean firms, are reportedly making
390. 14:05various requests to GRT.
391. 14:08So, since major Chinese tech companies
392. 14:10must use high-end precision film
393. 14:11materials that were previously
394. 14:13monopolized by Japanese or American
395. 14:15companies, I understand that they are
396. 14:17inevitably placing orders with companies
397. 14:19like GRT, even if their technical
398. 14:21capabilities are slightly behind.
399. 14:23So, if you replace this with localized
400. 14:25materials, that’s exactly what China is
401. 14:27good at.
402. 14:28It's a bit lacking right now, but once
403. 14:30we replace it and upgrade it to
404. 14:31distribute globally, it is true that GRT
405. 14:33is currently reaping massive profits
406. 14:35from this.
407. 14:36And they are proving it with numbers.
408. 14:39They surpassed 1 trillion in annual
409. 14:40revenue for the first time, and it went
410. 14:42straight to 1.2 trillion in one go.
411. 14:45I think they can reach 1.5 trillion, or
412. 14:47around that much, next year.
413. 14:50This isn't just simple expectation; the
414. 14:51numbers are already reflected in the
415. 14:52financial indicators.
416. 14:54They are growing tremendously right now
417. 14:56.
418. 14:59And their profitability is also good.
419. 15:02They are seeing significant growth, and
420. 15:04while some people criticize the
421. 15:06controlling interest versus
422. 15:07non-controlling interest aspect, I will
423. 15:09make a separate video on that, but the
424. 15:11core point is this.
425. 15:15Looking only at the controlling interest
426. 15:17is technically correct, but it only
427. 15:19shows the present; looking at the profit
428. 15:21and loss including non-controlling
429. 15:22interest includes future value as well.
430. 15:26That's because non-controlling interest
431. 15:28essentially sacrifices current equity
432. 15:30for the sake of future value.
433. 15:32And looking at operating profit, that
434. 15:34covers profit up to that point. Looking
435. 15:35at operating profit means
436. 15:38considering the company's R&D and
437. 15:41depreciation as well.
438. 15:44Because if operating profit is high but
439. 15:46net income is low, it means a lot is
440. 15:47being deducted from R&D or depreciation
441. 15:49.
442. 15:50However, since looking at operating
443. 15:51profit includes these factors, I believe
444. 15:53the most important thing is operating
445. 15:55profit—though, of course, revenue is the
446. 15:57most important. Because for growth rate
447. 15:59, revenue is what matters.
448. 16:01Whether revenue is declining is the most
449. 16:03important factor, followed by operating
450. 16:04profit, then total net income, and
451. 16:05lastly, non-controlling and controlling
452. 16:07interest.
453. 16:08Looking only at this might be correct in
454. 16:10terms of financial statements, but to
455. 16:12understand the current state, you also
456. 16:14have to look at the five factories
457. 16:15currently under construction.
458. 16:17If you only look at current profit and
459. 16:19loss, you only see the present; to see
460. 16:21the future, you must look at
461. 16:22non-controlling interest, and to account
462. 16:25for R&D and depreciation, you must look
463. 16:27at operating profit, but ultimately, I
464. 16:29think revenue is the most important for
465. 16:31overall growth. So, while controlling
466. 16:33interest and net income are important,
467. 16:37I see them as important in this specific
468. 16:39order. I view revenue as most important
469. 16:41, followed by operating profit, then
470. 16:43total net income, and then
471. 16:44non-controlling and controlling interest
472. 16:46, though this varies by person, so I
473. 16:48will make a separate video on this, and
474. 16:50I hope you look forward to it.
475. 16:53Now, they are fully prepared for the
476. 16:54explosion in demand for Chinese
477. 16:56semiconductors and AI. GRT currently has
478. 16:57three factories, but the first and
479. 16:59second ones are quite small. Plant 3 is
480. 17:01about this much of a difference.
481. 17:03The Yeosu plant is about this much, then
482. 17:06the Jiangyin Zhuitong plant is about
483. 17:08this size, and the Yangzhou plant is
484. 17:10about this big. About this size, then
485. 17:12the Turkey plant is about this much, and
486. 17:15the next one, the Nanjing plant, is a
487. 17:17bit smaller than that, so it's about
488. 17:19this big.
489. 17:21Given this situation, they say the
490. 17:23headquarters will be located here.
491. 17:26This is currently being built, these two
492. 17:29will start production in 2027, this one
493. 17:31is already finished but starts
494. 17:33production in 2027, this large one is
495. 17:35between 2027 and 2028, this one is 2028
496. 17:37, and this one is around 2029, so as
497. 17:40they go in order, sales are expected to
498. 17:42rise steadily.
499. 17:44And Plant 3 is currently at 66%
500. 17:45utilization, so there is still some
501. 17:47capacity left here.
502. 17:49Therefore, I believe sales growth will
503. 17:51continue, and for those investing here,
504. 17:53looking just at the sales, I don't think
505. 17:55there will be any problems.
506. 17:58Operating profit or net income changes
507. 18:00depending on company policy, and it is
508. 18:02true that it is undervalued compared to
509. 18:04its global peers in terms of growth.
510. 18:07If we are talking about a global peer,
511. 18:08it's Ciduck, and Ciduck recently hit the
512. 18:10upper limit due to that blue wave.
513. 18:12This has a market cap of about 6
514. 18:14trillion won, while GRT is in the 200
515. 18:16billion won range, so there is about a
516. 18:1830-fold difference, but Ciduck is a much
517. 18:20smaller company than GRT.
518. 18:22And GRT executives also consider their
519. 18:24company, GRT, to be much better than the
520. 18:26sticker material company Ciduck.
521. 18:29They evaluated it as a much better
522. 18:30company. I actually heard that answer
523. 18:31directly.
524. 18:33So it is currently extremely undervalued
525. 18:35, and I believe GRT’s growth potential,
526. 18:37which is both a value stock and shows
527. 18:40tremendous growth, is greater than any
528. 18:42company in the Korean stock market. I
529. 18:44mean the sales.
530. 18:45The growth potential is almost certain
531. 18:47to be high, it is extremely undervalued
532. 18:49, and it has excellent growth potential
533. 18:51and future value. Because no one can
534. 18:52deny the future of the Chinese
535. 18:54semiconductor industry.
536. 18:57That is why I am optimistic that this
537. 18:58blue wave will serve as an inflection
538. 19:00point for capital to flow into GRT.
539. 19:03Now, this is the chart for GRT starting
540. 19:07from 2021.
541. 19:09If you look here, 926 won was the low
542. 19:11point.
543. 19:12At that time, there were various issues
544. 19:15, such as the construction of Plant 3
545. 19:17and COVID-19, as well as several
546. 19:19financial statement issues, but at that
547. 19:21time, Plant 3 was under construction.
548. 19:24It was almost at the final stage of
549. 19:26construction, and then Plant 3 started
550. 19:28operating, and it surged due to the
551. 19:29tender offer issue that was happening.
552. 19:31Since the third plant began operations,
553. 19:34the price hasn't dropped back to the
554. 19:373,000 won range; it fluctuated between
555. 19:402,000 and 3,000 won due to solid
556. 19:42performance. The plunge here was caused
557. 19:45by the Japanese yen carry trade issue
558. 19:48and interest rate hikes in August 2024,
559. 19:50which dragged down the Korean market,
560. 19:53and the spike here was due to the Nasdaq
561. 19:56listing news before it fell again.
562. 19:59Around this time, I released my first
563. 20:03report on GRT.
564. 20:05But if you look at this point, Trump had
565. 20:07been picked.
566. 20:09So, it surged and fluctuated, but then
567. 20:12this "Blue Wave" emerged.
568. 20:14So, I think this could potentially be an
569. 20:17inflection point.
570. 20:20Because I realized this time that the
571. 20:22reason GRT couldn't rise despite such
572. 20:25strong growth until now might be due to
573. 20:28Trump's economic policies on China.
574. 20:31Seeing GRT rising yesterday and today, I
575. 20:33think, well...
576. 20:36Could this be an inflection point? That
577. 20:38is what I am currently expecting.
578. 20:41At this time, it rose because of
579. 20:42DeepSeek. There were various reasons
580. 20:44here, including MCC and other factors,
581. 20:46but I'm not exactly sure why it rose at
582. 20:48this specific time.
583. 20:50There are various reasons, including
584. 20:51earnings and many other factors.
585. 20:54Some people claimed at the time that the
586. 20:56chairman manipulated the stock to sell
587. 20:58off shares.
588. 21:00I don't know for sure either. From this
589. 21:02point on, it fell by this much due to
590. 21:03the block deal issue.
591. 21:05Then it rebounded after the block deal
592. 21:08concluded, and I also went on a site
593. 21:11visit.
594. 21:13It fell again and is now rising slightly
595. 21:14, and I hope this Blue Wave serves as an
596. 21:16opportunity for interest to shift toward
597. 21:18Chinese semiconductors.
598. 21:22I think it would be good if people
599. 21:23started paying attention to them. And
600. 21:25the semiconductor investment funds in
601. 21:27the Chinese market are enormous; I
602. 21:30believe that even if just 0.01%of that
603. 21:32investment capital shifts toward Chinese
604. 21:34semiconductors, GRT will surely
605. 21:36skyrocket.
606. 21:38Even if you feel at ease, the logic
607. 21:40holds up, right? Chinese semiconductors
608. 21:43have no choice but to grow, and there
609. 21:45won't be many stocks that solely benefit
610. 21:48from this. While various Korean material
611. 21:51and equipment stocks receiving orders
612. 21:54for Chinese semiconductors might benefit
613. 21:57, won't they eventually be replaced by
614. 21:59local Chinese firms? It's the same for
615. 22:02semiconductors and equipment, so
616. 22:04wouldn't there be only a few stocks left
617. 22:07in the end, including GRT?
618. 22:09Therefore, with limited stock supply and
619. 22:12increasing demand, I expect the share
620. 22:14price to rise.
621. 22:16The market isn't very good today, so
622. 22:20please manage your risks well.
623. 22:24Next, I will try to upload a video about
624. 22:27non-controlling interests soon.
625. 22:31Thank you.