Serenity: If Rivers gains more wafer production capacity, its gross profit and valuation space will increase

Analyst Serenity believes that if Sivers obtains 10% wafer production capacity from Win Semi, under the assumption of 65% yield and $50 to $75 ASP, the annual revenue can reach $341 million to $512 million, and the annual gross profit is approximately $205 million to $307 million; If the production capacity quota is increased to 15%, the annual gross profit is expected to increase to 307 million to 461 million US dollars. Morgan Stanley has listed Sivers, with a market value of $1.1 billion, as one of the three core manufacturers in the CPO laser field, alongside Coherent and Lumentum, with a market value of over $55 billion. Serenity believes that Sivers is advancing mass production with partners such as GlobalFoundries, Jabil, Ayar Labs, POET, O-Net, and may expand TAM through mergers and acquisitions in the future.