Wiwynn, a leading AI server manufacturer, has seen a substantial increase in its AI product revenues, hitting the 20% mark in the last quarter, as announced by CFO Chen Changwei. The company expects this growth to continue, surpassing the current year’s 20%, leading analysts from America, Europe, and Japan to raise their financial forecasts, with Wiwynn’s earnings per share (EPS) predicted to range between 80 and 108 yuan and the price-to-earnings ratio (PEX) estimated between 18x and 20x.
Morgan Stanley pointed out Wiwynn’s ASICs as central to its AI revenue, with a notable shift towards GPU AI server contributions expected in the second half of the year, indicating multiple upcoming GPU AI server projects. Macquarie Securities linked Wiwynn’s profitability to strategic engineering expenses and a profitable product mix, especially highlighting AWS AI servers with their advanced thermal designs and complete AI solutions.
Nomura highlighted the growth in Wiwynn’s AWS AI projects and the potential acceleration in Meta’s AI ASIC projects, along with possible expansions in the Middle East markets, pending new GPU launches. Despite Wiwynn’s plans for a capital increase, analysts remain optimistic, foreseeing an 8.4% upward revision in its 2025 earnings forecast and maintaining a positive view for 2024.
