← Biwin Storage Technology Co. Ltd. A overview

Biwin Storage Technology Co. Ltd. A vs Cambricon: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Biwin Storage Technology Co. Ltd. A (688525.CG)

Q3 202615 Jul – 1 Sep 2026

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AI Memory Boom Lifts Biwin; Buyback and Expansion Plans

AI-Driven Profit Surge Biwin swung to a 7.17 billion yuan first-half profit from a year-ago loss, with revenue up 298% and AI edge storage revenue up 434%, as an AI-driven memory upcycle boosted demand.
This is the core fundamental driver of the stock's performance this quarter.
Buyback and Expansion Plans Management proposed a 200–250 million yuan buyback for cancellation and a 4.5 billion yuan advanced packaging expansion, while a subsidiary seeks up to 600 million yuan from outside investors.
These capital actions signal confidence and growth ambitions, supporting the stock.
High Expectations and Valuation Risk The stock had already risen over 165% year-to-date, leaving expectations high and much good news priced in, so any disappointment on storage prices or AI demand could hit shares hard.
This is a key counterweight that could reverse gains if expectations are not met.
Small Buyback Relative to Market Cap The buyback is small relative to the roughly 143 billion yuan market value, limiting its potential impact on the share price.
This tempers the positive effect of the buyback announcement.

August 202628 Jul – 1 Sep 2026

▲4

Biwin Storage swings to huge profit on AI storage boom, expands capacity

First-half profit swing to 7.17 billion yuan Biwin Storage reported first-half revenue up 298% to 15.6 billion yuan and net profit of 7.17 billion yuan, reversing a year-ago loss. The company credits the AI computing boom and a strong memory cycle, with AI edge storage revenue up 434%. This confirms the earnings power driving the stock.
This is the core fundamental result that validates the bull case and directly supports the share price.
4.5 billion yuan advanced packaging expansion Biwin Storage plans to invest 4.5 billion yuan in a third-phase wafer-level advanced packaging and testing project in Dongguan. This expands capacity for advanced memory packaging, positioning the company to capture more AI-driven demand and supporting future revenue growth.
This is a new, large capital commitment that signals confidence and future capacity, a key driver for the stock.
Share buyback of 200-250 million yuan Biwin Storage intends to repurchase 200-250 million yuan of shares for capital reduction, at a price up to 468.24 yuan per share. This signals management's confidence and can support the stock price by reducing shares outstanding and returning capital to shareholders.
Buybacks are a direct capital action that can lift the stock price and show insider confidence.
Subsidiary raises up to 600 million yuan Biwin Storage's holding subsidiary Guangdong Xinchenghanqi plans to bring in outside investors to raise up to 600 million yuan. This fresh capital can fund expansion and growth without straining the parent company's balance sheet, supporting the subsidiary's development.
This is a new financing event that provides capital for growth, a positive for the company's expansion plans.

Latest28 Jul – 1 Sep 2026

▲4

Biwin Storage swings to huge profit on AI storage boom, expands capacity

First-half profit swing to 7.17 billion yuan Biwin Storage reported first-half revenue up 298% to 15.6 billion yuan and net profit of 7.17 billion yuan, reversing a year-ago loss. The company credits the AI computing boom and a strong memory cycle, with AI edge storage revenue up 434%. This confirms the earnings power driving the stock.
This is the core fundamental result that validates the bull case and directly supports the share price.
4.5 billion yuan advanced packaging expansion Biwin Storage plans to invest 4.5 billion yuan in a third-phase wafer-level advanced packaging and testing project in Dongguan. This expands capacity for advanced memory packaging, positioning the company to capture more AI-driven demand and supporting future revenue growth.
This is a new, large capital commitment that signals confidence and future capacity, a key driver for the stock.
Share buyback of 200-250 million yuan Biwin Storage intends to repurchase 200-250 million yuan of shares for capital reduction, at a price up to 468.24 yuan per share. This signals management's confidence and can support the stock price by reducing shares outstanding and returning capital to shareholders.
Buybacks are a direct capital action that can lift the stock price and show insider confidence.
Subsidiary raises up to 600 million yuan Biwin Storage's holding subsidiary Guangdong Xinchenghanqi plans to bring in outside investors to raise up to 600 million yuan. This fresh capital can fund expansion and growth without straining the parent company's balance sheet, supporting the subsidiary's development.
This is a new financing event that provides capital for growth, a positive for the company's expansion plans.

July 202615 Jul – 22 Jul 2026

▲3

Biwin Storage profit explodes on AI storage boom; buyback adds support

First-half profit forecast up over 30x on AI storage demand Biwin guided first-half 2026 net profit to 7–7.5 billion yuan, versus a 226 million yuan loss a year earlier, with second-quarter profit up 41–58% from the first. Management credits the AI computing boom and a strong storage-industry upcycle, plus its own chip-design and packaging investment. That is a huge, concrete jump in earnings, the main force pushing the stock up.
The profit forecast is the core new fundamental driver of the stock.
Chairman proposes 200–250 million yuan buyback for cancellation Chairman Sun Chengsi proposed repurchasing 200–250 million yuan of shares and cancelling them, shrinking the share count and lifting per-share earnings. It signals management confidence and puts a supportive bid under the stock, though the amount is small next to the company's roughly 143 billion yuan market value.
The buyback is a new capital-return action that supports the share price.
Storage industry in a high-growth cycle as AI computing power demand surges The company ties its profit surge to AI computing power exploding and storage entering a high-growth cycle, echoing peers like Lianxun Instruments and Sino Wealth Electronic that also cite AI-driven demand. This shows the driver is industry-wide, not a one-off, which supports the view that Biwin's earnings strength can persist.
It explains the durable industry force behind the earnings jump.
Stock already up over 165% this year, so expectations are high Biwin shares closed at 304.4 yuan on July 15, up more than 165% year-to-date, with a market value around 143.5 billion yuan. The huge run means much of the good news may already be priced in, so any disappointment on storage prices or AI demand could hit the stock hard.
It is the main counterweight: strong gains raise the risk of a pullback.

15 Jul – 22 Jul 2026

▲3

Biwin Storage profit explodes on AI storage boom; buyback adds support

First-half profit forecast up over 30x on AI storage demand Biwin guided first-half 2026 net profit to 7–7.5 billion yuan, versus a 226 million yuan loss a year earlier, with second-quarter profit up 41–58% from the first. Management credits the AI computing boom and a strong storage-industry upcycle, plus its own chip-design and packaging investment. That is a huge, concrete jump in earnings, the main force pushing the stock up.
The profit forecast is the core new fundamental driver of the stock.
Chairman proposes 200–250 million yuan buyback for cancellation Chairman Sun Chengsi proposed repurchasing 200–250 million yuan of shares and cancelling them, shrinking the share count and lifting per-share earnings. It signals management confidence and puts a supportive bid under the stock, though the amount is small next to the company's roughly 143 billion yuan market value.
The buyback is a new capital-return action that supports the share price.
Storage industry in a high-growth cycle as AI computing power demand surges The company ties its profit surge to AI computing power exploding and storage entering a high-growth cycle, echoing peers like Lianxun Instruments and Sino Wealth Electronic that also cite AI-driven demand. This shows the driver is industry-wide, not a one-off, which supports the view that Biwin's earnings strength can persist.
It explains the durable industry force behind the earnings jump.
Stock already up over 165% this year, so expectations are high Biwin shares closed at 304.4 yuan on July 15, up more than 165% year-to-date, with a market value around 143.5 billion yuan. The huge run means much of the good news may already be priced in, so any disappointment on storage prices or AI demand could hit the stock hard.
It is the main counterweight: strong gains raise the risk of a pullback.

Cambricon Technologies Corp Ltd (688256.CG)

Q3 202622 Jun – 11 Sep 2026

▲4▼1

Cambricon Rallies on AI Tailwinds, Strong H1 Results, but Tariffs and Sentiment Bite

Beijing Eases IPO Rules for AI Firms Beijing relaxed IPO rules for AI companies, making it easier for Cambricon and peers to raise capital and expand, boosting investor confidence in the sector's growth prospects.
This regulatory change directly supports Cambricon's growth and investor sentiment.
Macquarie Top Pick with 2,060 Yuan Target Macquarie named Cambricon a top pick with a 2,060 yuan price target, citing strong domestic AI chip demand and the company's leading position in China's AI accelerator market.
Analyst endorsement can drive buying interest and validate the bull case.
Z.AI's 1-Gigawatt All-Chinese-Chip Data Center Z.AI's 1-gigawatt data center using all Chinese chips demonstrated robust domestic demand for Cambricon's AI accelerators, reinforcing the company's growth narrative.
This large-scale project showcases real demand for Cambricon's products.
H1 2026 Revenue and Profit Surge H1 2026 revenue rose 108% to 5.996bn yuan and net profit jumped 123% to 2.311bn yuan, with 13 new projects worth 136.1bn yuan signed and accelerator prices raised up to 30% amid HBM shortages.
Strong financial results and pricing power directly reflect Cambricon's operational success.
US Tariffs and AI-Spending Concerns Trigger Selloffs US tariffs pressured tech stocks, and AI-spending concerns plus weak China manufacturing data triggered sharp selloffs, with Cambricon dropping 9.11% and 7.05% on two days, showing sentiment can swing violently despite strong fundamentals.
These external factors caused significant price drops, highlighting risks.

August 202628 Jul – 11 Sep 2026

▲3▼1

Cambricon's strong H1 results and price hikes offset by sector selloff

H1 2026 results: revenue and profit surge Cambricon reported H1 2026 revenue up 108% to 5.996bn yuan and net profit up 123% to 2.311bn yuan, driven by Beijing's push for domestic AI chips. Prepayments jumped 291% and inventory 67%, signaling future sales.
This is the core new fundamental development for the period, showing strong growth.
13 new projects worth 136.1bn yuan signed Cambricon signed 13 projects worth 136.1bn yuan, indicating robust demand for its AI chips. This large order backlog supports future revenue growth and reflects the company's strong market position.
This is a new concrete driver of future sales and growth.
Accelerator prices raised up to 30% amid HBM shortage Cambricon is raising accelerator prices by up to 30% due to an HBM memory shortage. This pricing power can boost margins and profitability, showing strong demand and limited supply.
This is a new pricing action that directly affects profitability.
Sharp selloff on AI-spending concerns and weak China data Chip stocks sold off sharply on AI-spending concerns, with Cambricon falling 9.11% and 7.05% on two days, worsened by weak China manufacturing data. This shows sentiment can swing sharply despite strong fundamentals.
This is a new negative factor that pressured the stock during the period.

Latest8 Aug – 11 Sep 2026

▲4

Cambricon Profit Doubles, Chip Prices Surge on AI Demand

Interim profit more than doubles Cambricon's first-half net profit more than doubled to 2.31 billion yuan on 6.0 billion yuan revenue, driven by demand for its AI chips supporting domestic large language models. Strong earnings show the business is scaling and support a higher stock price.
This is the core new financial result that directly boosts investor confidence and valuation.
STAR Market hard-tech earnings boom Eighty-eight STAR Market companies reported combined profit up 154% year on year, with the domestic computing power ecosystem as the clearest theme. Cambricon was named among design firms delivering substantial growth, reinforcing sector momentum that lifts its shares.
It confirms Cambricon is part of a broad, profitable domestic chip trend, adding sector-level support to the stock.
Cambricon signs 13 projects in 136 billion yuan deal At a green computing conference, Hohhot and Ulanqab signed 13 projects with companies including Cambricon, totaling 136.1 billion yuan in investment. This expands Cambricon's order pipeline and future revenue potential, pushing the stock up.
It is a concrete new business win that adds to Cambricon's growth outlook.
AI chip prices surge on HBM shortage A global high-bandwidth memory shortage is letting Chinese AI chipmakers raise prices. Cambricon is increasing accelerator prices by up to 30%, and its forthcoming 690 chip is repriced 20-30% higher. Higher prices can boost revenue and margins, lifting the stock.
Pricing power directly improves Cambricon's profitability and is a key new market development.

28 Jul – 7 Aug 2026

▲3▼1

Cambricon's profit doubles as Beijing pushes local AI chips

Half-year profit more than doubles Cambricon reported first-half revenue of 5.996 billion yuan, up 108%, and net profit of 2.311 billion yuan, up 123%. Prepayments jumped 291% and inventory rose 67%, signs customers are ordering ahead and the company is stocking up for more sales.
This is the single biggest new fact about the company itself and directly supports the stock.
Beijing's local-chip push lifts demand Beijing is pressing Chinese firms to buy homegrown AI chips. A survey shows companies plan to spend 46% of AI chip budgets locally, up from 30%, and Morgan Stanley sees 70% self-sufficiency by 2030. That points to more orders for Cambricon.
It explains the policy-driven demand behind Cambricon's growth and future sales.
AI spending worries spark chip sell-off On July 28 and August 3, chip stocks fell hard on fears that AI spending is too high and returns uncertain, with Cambricon dropping 9.11% and 7.05%. Weak China manufacturing data added to the gloom. This shows sentiment can swing sharply.
It is the main counterweight to the positive news and shows the risk investors face.
Strong exports and AI buying lift shares On July 31 and August 7, AI stocks rebounded as China's exports beat forecasts and investors bought back into the sector. Cambricon rose 6.10% and 2.72%. The broader market strength supports demand for AI chips and the stock.
It shows the market backdrop that helped Cambricon's shares recover during the period.

July 202622 Jun – 24 Jul 2026

▲3

Policy support, big demand, and a top analyst pick drive Cambricon higher

Beijing eases IPO rules for AI developers China's securities regulator relaxed listing standards for AI companies and backed advanced tech sectors. This policy support lifts the whole domestic chip industry, including Cambricon, by making it easier for AI firms to raise money and grow, which increases demand for their chips.
This is a new regulatory catalyst that directly boosts the sector and Cambricon's outlook.
Macquarie names Cambricon top pick with 2,060 yuan target Macquarie initiated coverage with an outperform rating and a price target more than 50% above the recent close, calling now the best time to buy Chinese AI chip stocks. This kind of endorsement from a major bank draws investor attention and money into the stock.
A major analyst initiation with a high target is a new, concrete reason for the stock to attract buyers.
Z.AI builds giant data center using only Chinese chips Z.AI completed a 1-gigawatt data center filled exclusively with Chinese-made chips, already installing at least 10,000. This shows real, large-scale demand for domestic AI chips like Cambricon's, supporting future sales and revenue growth.
It provides tangible evidence of demand for domestic AI chips, a key driver of Cambricon's business.
US tariff hits tech stocks, but domestic demand stays strong The US imposed a 12.5% tariff on China, pushing tech and semiconductor stocks down, with Cambricon falling 1.92% that day. However, the same week saw a domestic TPU cluster go live and data showing Cambricon's revenue up 160% year-on-year, highlighting strong local demand that can offset trade tensions.
It captures the main counterweight (tariffs) while also noting the offsetting positive demand signals.

22 Jun – 24 Jul 2026

▲3

Policy support, big demand, and a top analyst pick drive Cambricon higher

Beijing eases IPO rules for AI developers China's securities regulator relaxed listing standards for AI companies and backed advanced tech sectors. This policy support lifts the whole domestic chip industry, including Cambricon, by making it easier for AI firms to raise money and grow, which increases demand for their chips.
This is a new regulatory catalyst that directly boosts the sector and Cambricon's outlook.
Macquarie names Cambricon top pick with 2,060 yuan target Macquarie initiated coverage with an outperform rating and a price target more than 50% above the recent close, calling now the best time to buy Chinese AI chip stocks. This kind of endorsement from a major bank draws investor attention and money into the stock.
A major analyst initiation with a high target is a new, concrete reason for the stock to attract buyers.
Z.AI builds giant data center using only Chinese chips Z.AI completed a 1-gigawatt data center filled exclusively with Chinese-made chips, already installing at least 10,000. This shows real, large-scale demand for domestic AI chips like Cambricon's, supporting future sales and revenue growth.
It provides tangible evidence of demand for domestic AI chips, a key driver of Cambricon's business.
US tariff hits tech stocks, but domestic demand stays strong The US imposed a 12.5% tariff on China, pushing tech and semiconductor stocks down, with Cambricon falling 1.92% that day. However, the same week saw a domestic TPU cluster go live and data showing Cambricon's revenue up 160% year-on-year, highlighting strong local demand that can offset trade tensions.
It captures the main counterweight (tariffs) while also noting the offsetting positive demand signals.