Bank of America Securities published a research report covering Changxin Technology for the first time, giving it a “buy” rating. Since the company is in a phase of rapid expansion of production capacity, the target price is 65 yuan based on predicting a price-earnings ratio of 16 times the next two years. The bank pointed out that Changxin Technology is a key choice for memory and artificial intelligence in China, and can provide investors with good market entry opportunities under the DRAM supercycle. The current transaction predicts a price-earnings ratio of 11 times the next two years. The valuation is attractive. The domestic semiconductor industry is currently trading at about 40 times the predicted price-earnings ratio. The bank pointed out that Changxin Technology is the largest DRAM manufacturer in China, ranking fourth in global production capacity, after Samsung and SK Hynix. It is optimistic about the company's profitability performance, the memory supercycle, and long-term growth opportunities for local Chinese customers, especially in the AI/data center sector. The bank expects that most of Changxin Technology's DRAM will be purchased by local OEMs/hyperscale cloud operators. The average DRAM sales price is expected to increase by 9% next year, then decline moderately. By the end of this year, the company's monthly wafer production capacity will reach about 300,000 pieces, accounting for about 15% of global supply.

Bank of America Securities published a research report covering Changxin Technology for the first time, giving it a “buy” rating. Since the company is in a phase of rapid expansion of production capacity, the target price is 65 yuan based on predicting a price-earnings ratio of 16 times the next two years. The bank pointed out that Changxin Technology is a key choice for memory and artificial intelligence in China, and can provide investors with good market entry opportunities under the DRAM supercycle. The current transaction predicts a price-earnings ratio of 11 times the next two years. The valuation is attractive. The domestic semiconductor industry is currently trading at about 40 times the predicted price-earnings ratio. The bank pointed out that Changxin Technology is the largest DRAM manufacturer in China, ranking fourth in global production capacity, after Samsung and SK Hynix. It is optimistic about the company's profitability performance, the memory supercycle, and long-term growth opportunities for local Chinese customers, especially in the AI/data center sector. The bank expects that most of Changxin Technology's DRAM will be purchased by local OEMs/hyperscale cloud operators. The average DRAM sales price is expected to increase by 9% next year, then decline moderately. By the end of this year, the company's monthly wafer production capacity will reach about 300,000 pieces, accounting for about 15% of global supply.