[Interpretation of abnormal changes] Qiangyi shares surged on May 18: memory chips + AI ASIC + MEMS probe cards

Industry reasons:

On May 17th, Changxin Technology updated its IPO prospectus on the STAR Market, resuming the listing review process. Changxin Technology estimates that in the first half of 2026, the company's operating revenue will reach RMB 110 billion to RMB 120 billion, representing a year-on-year increase of 612.53% to 677.31%; net profit attributable to shareholders will be RMB 50 billion to RMB 57 billion, a substantial year-on-year increase of 2244.03% to 2544.19%.

Company reasons:

According to the record of investor relations activities on May 12, 2026, the company's 2.5D MEMS probe card has been shipped in small batches and has been verified by customers of Flash, DRAM, and other memory chips. It is planned to complete the delivery of domestic leading memory products as soon as possible.

According to the 2025 annual report and the first quarterly report of 2026, the company's revenue in 2026Q1 was 285 million yuan, with net profit attributable to shareholders of 112 million yuan, representing year-on-year increases of 229.39% and 697.60% respectively, indicating the emergence of scale effect.

According to the record of investor relations activities on May 12, 2026, the company has simultaneously expanded its production capacity for 2D/2.5D MEMS probe cards to meet the high-density testing demands of AI ASICs. The Nantong fund-raising project aims to establish a fully automated production line to cater to the needs of AI computing power chips and memory chips.