SK Hynix's Q3 earnings exceeded expectations, sending its stock price rebounding 2%. Third-quarter revenue reached 104.62 trillion won (approximately US$78.9 billion), a staggering 328% year-on-year increase, surpassing market expectations of 98.96 trillion won. Operating profit reached 83.33 trillion won (approximately US$62.8 billion), a 632% year-on-year increase, also exceeding expectations, with an operating profit margin reaching a record 80%. DRAM average selling price rose approximately 28% quarter-on-quarter, while shipments increased by approximately 10%. NAND average selling price rose approximately 25%, achieving strong growth despite a slight decline in shipments. Gross margin reached 85.7%, and EBITDA margin was as high as 84%. Fourth-quarter DRAM shipments are expected to increase by approximately 25% quarter-on-quarter, and NAND shipments by approximately 5%. The company anticipates DRAM demand growth of approximately 25% and NAND demand growth of approximately 18% by 2027 and plans to significantly increase capital expenditure. HBM4 is expected to surpass HBM3E in the fourth quarter to become the main contributor to HBM shipments and revenue. SK Hynix announced long-term supply agreements with 14 major customers, including leading global cloud service providers (CSPs). The standard contract term is five years, covering more than 50% of total capacity in both 2027 and 2028, with prepayment and other mechanisms ensuring contract fulfillment. Management anticipates storage demand may continue to exceed supply until 2030. The company's cash reserves reached $86.3 billion, interest-bearing debt decreased by 34%, and a quarterly dividend of approximately 20,000 won per share was announced.