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　　Recently, the sharp drop in chip prices has once again attracted widespread attention from the outside world. The market environment is not good, and the graphics card cannot escape the cold situation.

　　An important reason for the skyrocketing price of graphics cards before was mining, but since the mining tide has receded, the price of graphics cards has been falling in May this year, and it seems that the decline has not stopped. On August 23, a reporter from China Business News visited the Huaqiangbei Market in Shenzhen. Some merchants in Huaqiangbei told reporters, "In recent days, the business performance of graphics cards is still poor, many manufacturers' inventories cannot be quickly digested, and the price of graphics cards is still slowly declining."

　　At the same time, on August 24, graphics card chip giant Nvidia released its second-quarter financial report. As the previous warning was similar, revenue increased by 3% year-on-year, but net profit fell by 72% year-on-year. Among them, game graphics card revenue dropped sharply. Nvidia founder and CEO Jen-Hsun Huang said the company intends to reduce the number of chips it ships to customers rather than sell products to customers. Looking to make sure excess stock is cleared before launching new products and is putting price cuts on products to help.

　　The mining tide recedes, and the price of graphics cards is difficult to stop falling

　　"The current price of ASUS DUAL-RTX3070 is about 3,900 yuan a piece." Before that, a merchant in Guangzhou Bainaohui told reporters, "NVIDIA RTX3070 will sell for about 12,000 yuan at the highest price in 2021, and it will only be listed at the end of 2020. Selling for 4,200 yuan."

　　In fact, in the middle of last year, with the decline in the price of bitcoin and other currencies, the demand for mining machines has also weakened to a certain extent, and the price of graphics cards in the market has dropped. The price of NVIDIA RTX3070 graphics card has dropped to 8,400 yuan. open. Today, as the currency price falls again, the market demand is weak, the chip price has fallen further, and the graphics card price has also fallen back to the original point, even falling below NVIDIA's official price.

　　On the Jingdong platform, the Colorful RTX 3070 Tomahawk 8G will be priced at 3,899 yuan on August 23, while the Huaqiangbei offline market can be purchased for 3,600 yuan. In addition, second-tier graphics card brands such as Mingxuan, Gengsheng, and Yingzhong have lower prices for products with the same configuration. A merchant in Huaqiangbei said to a reporter who came to buy a graphics card, "This 3070 flagship graphics card from Yingzhong corresponds to the Colorful RTX 3070 Vulcan. It only costs 3,550 yuan. Would you like one?"

　　In 2021, graphics cards have skyrocketed, and there have been many hoarding merchants. However, due to the subsidence of the mining boom, the price of graphics cards "collapsed" in early May this year, and some models fell back to the official guide prices two years ago.

　　"The overall consumer market is weak, consumer spending has become more cautious, and the game graphics card market has begun to grow weakly." A merchant in Huaqiang North SEG Plaza told reporters that consumer demand has weakened, graphics card manufacturers are under great inventory pressure, and graphics card prices are still in the near future. Go down slowly.

　　It is worth noting that recently, overseas media 3DCenter also reported that the mainstream graphics cards currently on sale by NVIDIA and AMD have reduced their prices to varying degrees, and they have all dropped to the suggested retail prices, and even the prices of some models are already lower than the suggested retail prices. . According to reports, the statistics are "main models" including the RX6800, 6800XT and RTX3080, RTX3070 and RTX3060Ti. As of August 21st, these "main model" graphics cards are priced at about 97% of the MSRP.

　　The analysis pointed out that the main reasons for the price reduction of graphics cards this time are not only overcapacity and pressure on manufacturers' inventories, but also part of the reason is to "make way" for the upcoming Nvidia RTX 40 series graphics cards.

　　"RTX 40 series graphics cards are about to come out, and various brands are clearing their inventory, so prices are going down. Now RTX3080 and RTX3090 are going down, and RTX3070 will also drive down." A merchant surnamed Duan in SEG Plaza said the boss.

　　However, some merchants in Huaqiangbei said that the price of domestic graphics cards has fallen to the lowest point in history recently, and the current price is relatively stable. Only when the RTX 40 series graphics cards go on sale, will the RTX 30 series graphics cards drop further. "It is rumored that the public version of the RTX 40 series graphics cards will be launched in October and November, and the first release is generally the highest-level RTX 4080 and RTX 4090, which will be available in December, while the RTX 4060 and RTX 4070 will be available first. It will not be released until January and February next year, and the next big price cut of RTX 3060 and RTX 3070 may have to wait until next year." Another merchant in SEG Plaza said.

　　It is reported that Colorful has recently adjusted the price of graphics cards in the second half of August. The 3090TI series has been reduced by 200~300 yuan, and most models of the RTX 3060-3080TI series have been fully and appropriately reduced in price.

　　The pace slows down, and some merchants do not stock up on stock

　　"Last year, it was normal to take more than 1,000 pieces of goods at one time, and I basically need to take goods every day. This year's pace has slowed down." Xiao Yang, a merchant in Shenzhen Huaqiangbei SEG Plaza in 2008, told reporters, "Before When there are a lot of people, we are busy every day from morning until eleven or twelve in the evening, and lunch is not eaten until three or four o'clock. Due to the large number of orders, we have to work overtime every day, and now sometimes only dozens of sheets are shipped a day. "

　　After the mining boom subsided, Huaqiangbei in August was not as lively as the previous two years. The reporter saw that after 6 pm, most of the merchants selling graphics cards in SEG Plaza had already closed their stalls and went home.

　　Xiao Yang said that many merchants in the mining machine business are still in this market before, but they can’t do it as blatantly as last year, and many of the previous mining machine business turned back to mainly sell graphics cards, and in the past two years, they sold servers and accessories. Many merchants are also selling graphics cards, and now many have returned to their old businesses.

　　According to the descriptions of some merchants in SEG Plaza, signs with the word "mine" are no longer allowed in the entire SEG Plaza. The reporter saw that many empty booths related to "mining machines" were left in SEG Plaza. "Mining will do when there is a market, and it is normal to leave when there is no market." The above-mentioned merchant said.

　　An empty booth that still had a poster of "Ant Industrial Control Technology Co., Ltd." was posted next to "Wangpu for Rent". A nearby merchant selling servers said to a reporter who came to understand the situation, "This merchant has been withdrawn since the end of last year. Moved to Dongguan, they are here to make quick money."

　　In the past, when graphics cards skyrocketed, many scalpers and merchants took the opportunity to enter the graphics card market to stock up and make a fortune.

　　The above-mentioned merchants who sell servers said that when the market was hot, they were also selling graphics cards, but they are not selling them now, and they have no stock on hand. Recently, the price of graphics cards has been slowly going down, and I dare not stock up.

　　Many scalpers also lamented that their business is very difficult now, and they have even sold graphics cards at a loss because of the early storage of graphics cards.

　　Xiao Yang said, "Currently, the price of graphics cards is already very low, but many game buyers are still waiting for the price to drop, but customers who just need design and video will still place orders normally, and I still give out today's order. The company has a lot of office use, and in the past, I was busy issuing orders to customers (mining) in Inner Mongolia, Shandong, Xinjiang, and overseas.”

　　The performance of chip and graphics card manufacturers has changed

　　In this market game without gunpowder smoke, the sensitive nerve of capital has been fluctuating with prices.

　　Last year, Nvidia announced its first-quarter financial report for fiscal 2022. Revenue in the quarter increased by 84% year-on-year to $5.66 billion, of which the gaming division’s revenue was $2.76 billion, a year-on-year increase of 106%. Nvidia said that the company believes the growth is due to the demand for Nvidia graphics cards from cryptocurrency miners.

　　When the market demand declines, the popularity of virtual currency decreases, and miners' demand for graphics cards also decreases. The growth rate of the company's game business also gradually declines, and Nvidia's performance is also affected. The financial report for the first quarter of fiscal year 2023 shows that although Nvidia’s first-quarter revenue set a record of $8.29 billion, it increased by 46% year-on-year and 8% month-on-month. However, Nvidia issued a warning in its earnings report that the growth of the company's games and other businesses has slowed down significantly.

　　On August 24, Nvidia released its financial report for the second quarter of fiscal year 2023, which ended on July 31, showing that Nvidia’s second-quarter revenue was $6.704 billion, an increase of 3% compared with $6.507 billion in the same period last year. The first quarter's $8.288 billion decreased by 19%; the net profit was $656 million, down 72% from $2.374 billion in the same period last year, and down 59% from $1.618 billion in the previous fiscal quarter. The main reason is that the game business revenue is lower than expected. In the second quarter, the company's game business revenue was $2.04 billion, down 33% from $3.06 billion in the same period last year, and down 44% sequentially. However, the data center business revenue was $3.81 billion, an increase of 1% month-on-month and a year-on-year increase of 61%.

　　Long Bridge Dolphin Investment Research believes that the decline in NVIDIA's game business revenue mainly includes three factors, including the significant decline in the global PC market in the second quarter, which weakened the demand for game terminals; virtual currency prices have continued to decline since the beginning of this year, weakening the related demand for mining ; In addition, the high inventory of dealers directly affects the current driving force. Chip inventories are building as previously high demand has stalled.

　　Nvidia’s second-quarter earnings report showed that inventory for the quarter was $3.89 billion, up from $2.11 billion in the same period last year. Total inventory purchases and long-term supply obligations were $9.22 billion, nearly double what they were a year ago. Nvidia said the prepaid supply agreement was $3.14 billion.

　　At the same time, in the second quarter, the first-tier graphics card manufacturer ASUS had a revenue of NT$15.21 billion, a decrease of 10% from the previous quarter and a decrease of 4% year-on-year. Asus bluntly stated that due to weakened market demand, increased inventory pressure, and exchange losses of NT$ 699 million yuan. In addition, GIGABYTE’s revenue in the second quarter also performed poorly, with revenue of NT$22.662 billion, a decrease of 30% from the previous quarter and a decrease of 28.7% year-on-year. %. GIGABYTE Chairman Ye Peicheng said that the e-sports demand was crowded out by mining in the past, but now it has returned, but the e-sports market still cannot be truly satisfied, but the price has fallen, and the second quarter has become a more influential quarter.

　　According to the latest data from IDC, global PC market shipments totaled 72 million units in the second quarter of 2022, down 12.6% from the second quarter of 2021.

　　It is reported that Huang Renxun is ordering to fully clean up the inventory of the RTX 30 series, and to take joint actions with game partners to increase promotions.

　　However, some merchants analyzed to reporters that the price of graphics cards may also rise in the recent period, and the prices of graphics cards have fallen. At present, some models of some brands have fallen below the cost, and they are selling at a loss. Profit pressure is likely to force manufacturers to increase prices.