← Biwin Storage Technology Co. Ltd. A overview

Biwin Storage Technology Co. Ltd. A vs Hua Hong Semiconductor: why the prices moved differently

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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

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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

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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.

Hua Hong Semiconductor Limited (688347.CG)

Q3 20261 Jul – 29 Sep 2026

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Hua Hong Q3: Record Q2, STMicro Deal, DUV Progress; Nvidia Risk

Record Q2 results and strong Q3 guidance Q2 revenue hit a record $717.5M, up 26.8% from a year ago, with profit up 386%. Factories ran at 102.8% capacity, and Q3 guidance rose to $780M, signaling robust demand.
This is the core financial performance that drove positive sentiment in Q3.
STMicroelectronics begins China-made STM32 wafer deliveries via Hua Hong STMicroelectronics started delivering China-made STM32 wafers through Hua Hong, a major partnership that boosts Hua Hong's foundry business and validates its technology for global customers.
This new customer win is a significant growth driver for Hua Hong's foundry services.
Regulatory approval for Huali Micro stake acquisition and domestic DUV progress Regulators approved Hua Hong's acquisition of a stake in Huali Micro, and domestic DUV lithography deliveries are expected. These moves expand capacity and reduce reliance on foreign equipment.
These strategic developments enhance Hua Hong's long-term capacity and supply chain security.
Report that Beijing may allow Nvidia advanced chip purchases A report that Beijing may let firms buy Nvidia's advanced chips sent Hua Hong down nearly 5%, as foreign alternatives could weaken demand for domestic chips and hurt Hua Hong's pricing power.
This is a key risk that pressured Hua Hong's stock during the quarter.

September 202619 Aug – 29 Sep 2026

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Hua Hong rides record profits and state chip support, then slips on Nvidia report

Record first-half results: revenue up 19%, profit up 437% Hua Hong reported first-half revenue of 9.574 billion yuan, up 19.41%, and net profit of 399 million yuan, up 436.69% year on year, with record quarterly sales of $717.5 million and record shipments. Strong earnings show real demand for its chips, supporting the stock.
The company's own blowout earnings are the core fundamental reason the stock has been moving up.
Beijing's five-year plans back domestic chips China's new five-year electronics supply-chain plan (2026-2030) and Shanghai's integrated-circuit plan aim to boost domestic chip capability and self-reliance. Hua Hong rose on the news. State backing means more demand and support for local fabs, a tailwind for the stock.
Government policy directly favors Hua Hong's core business and was cited as moving the shares.
600 million yuan bond funds Hua Hong FAB9B expansion Wuxi Industry Group issued China's first key-core-technology sci-tech bond, raising 600 million yuan earmarked for Hua Hong's FAB9B 12-inch specialty wafer line (55,000 wafers/month). This adds capacity for auto and industrial chips, supporting future growth.
New funding for a specific Hua Hong project shows concrete capital support for expansion.
Report Beijing may let firms buy Nvidia chips hits sector A report that Beijing may allow some local firms to buy Nvidia's advanced RTX Pro 5500 chips sent Chinese chip stocks down; Hua Hong fell nearly 5%. If foreign chips return, demand for domestic alternatives could weaken, pressuring the stock.
This is the main counterweight and the most recent negative force on the shares.

Latest19 Aug – 29 Sep 2026

▲3▼1

Hua Hong rides record profits and state chip support, then slips on Nvidia report

Record first-half results: revenue up 19%, profit up 437% Hua Hong reported first-half revenue of 9.574 billion yuan, up 19.41%, and net profit of 399 million yuan, up 436.69% year on year, with record quarterly sales of $717.5 million and record shipments. Strong earnings show real demand for its chips, supporting the stock.
The company's own blowout earnings are the core fundamental reason the stock has been moving up.
Beijing's five-year plans back domestic chips China's new five-year electronics supply-chain plan (2026-2030) and Shanghai's integrated-circuit plan aim to boost domestic chip capability and self-reliance. Hua Hong rose on the news. State backing means more demand and support for local fabs, a tailwind for the stock.
Government policy directly favors Hua Hong's core business and was cited as moving the shares.
600 million yuan bond funds Hua Hong FAB9B expansion Wuxi Industry Group issued China's first key-core-technology sci-tech bond, raising 600 million yuan earmarked for Hua Hong's FAB9B 12-inch specialty wafer line (55,000 wafers/month). This adds capacity for auto and industrial chips, supporting future growth.
New funding for a specific Hua Hong project shows concrete capital support for expansion.
Report Beijing may let firms buy Nvidia chips hits sector A report that Beijing may allow some local firms to buy Nvidia's advanced RTX Pro 5500 chips sent Chinese chip stocks down; Hua Hong fell nearly 5%. If foreign chips return, demand for domestic alternatives could weaken, pressuring the stock.
This is the main counterweight and the most recent negative force on the shares.

July 20261 Jul – 14 Aug 2026

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Hua Hong hits record Q2, full capacity, and wins new China supply deals

Record Q2 revenue and profit, full capacity Hua Hong's Q2 sales hit a record $717.5 million, up 26.8% year on year, with profit up 386%. Its factories ran at 102.8% of capacity, meaning demand exceeds what it can currently produce. Q3 guidance of up to $780 million points to continued growth.
This is the core new financial result showing the business is booming and supports a higher share price.
STMicroelectronics starts China-made STM32 wafer deliveries via Hua Hong STMicroelectronics delivered its first batch of STM32 microcontroller wafers fully made in China by Hua Hong. This brings Hua Hong more orders from a major global chip company and strengthens its role in the China-for-China supply chain.
A new customer win that adds demand for Hua Hong's foundry services and shows its strategic value.
China approves Hua Hong Grace's acquisition of Huali Micro stake China's securities regulator approved Hua Hong Grace's plan to buy 97.5% of Huali Micro using shares, plus raise up to 7.556 billion yuan. This expands Hua Hong's chipmaking capacity and scale, which can boost future revenue and market position.
A major capital move that increases Hua Hong's size and production capacity, directly affecting its long-term value.
Domestic DUV lithography machines begin production, Hua Hong named as recipient China started making its own immersion DUV lithography machines, with deliveries expected this year to Hua Hong and others. This reduces reliance on foreign suppliers like ASML and could ease equipment access, though the machines are still early and far behind ASML in performance.
A new technology supply development that could lower costs and supply risks for Hua Hong, though with real limitations.

1 Jul – 14 Aug 2026

▲4

Hua Hong hits record Q2, full capacity, and wins new China supply deals

Record Q2 revenue and profit, full capacity Hua Hong's Q2 sales hit a record $717.5 million, up 26.8% year on year, with profit up 386%. Its factories ran at 102.8% of capacity, meaning demand exceeds what it can currently produce. Q3 guidance of up to $780 million points to continued growth.
This is the core new financial result showing the business is booming and supports a higher share price.
STMicroelectronics starts China-made STM32 wafer deliveries via Hua Hong STMicroelectronics delivered its first batch of STM32 microcontroller wafers fully made in China by Hua Hong. This brings Hua Hong more orders from a major global chip company and strengthens its role in the China-for-China supply chain.
A new customer win that adds demand for Hua Hong's foundry services and shows its strategic value.
China approves Hua Hong Grace's acquisition of Huali Micro stake China's securities regulator approved Hua Hong Grace's plan to buy 97.5% of Huali Micro using shares, plus raise up to 7.556 billion yuan. This expands Hua Hong's chipmaking capacity and scale, which can boost future revenue and market position.
A major capital move that increases Hua Hong's size and production capacity, directly affecting its long-term value.
Domestic DUV lithography machines begin production, Hua Hong named as recipient China started making its own immersion DUV lithography machines, with deliveries expected this year to Hua Hong and others. This reduces reliance on foreign suppliers like ASML and could ease equipment access, though the machines are still early and far behind ASML in performance.
A new technology supply development that could lower costs and supply risks for Hua Hong, though with real limitations.