The wave of price increases for memory chips continues, with listed companies seeing their financial performance rise accordingly.
Samsung Adjusts Q1 DRAM Price Increase to 100% According to media reports, on March 4th, Samsung Electronics finalized negotiations with its major clients last month for first-quarter DRAM supply prices. The average price for general-purpose DRAM used in servers, PCs, and mobile devices increased by approximately 100% compared to the previous quarter, doubling from the fourth quarter of last year. The price hike for some clients and specific products even exceeded 100%.
The report cited industry insiders stating that the negotiations have largely concluded, with some overseas clients having already completed payments. This increase represents a further 30 percentage point expansion from the 70% level negotiated in January of this year, occurring within just one month.
Separately, according to TrendForce, looking ahead to the first quarter of 2026, due to a severe imbalance between supply and demand for NAND Flash, original equipment manufacturers maintain a strong willingness to push prices higher. TrendForce has revised its forecast for the overall NAND Flash price increase in Q1 to a quarterly growth of 85% to 90%, with revenue levels expected to grow once again.
Strong Performance from Memory Chip Companies The high prosperity within the memory chip industry is already reflected in the earnings of listed companies.
Domestic memory chip leader BIWIN Storage and Technology announced that the company achieved revenue of 11.296 billion yuan in 2025, a year-on-year increase of 68.72%. Net profit attributable to shareholders was 867 million yuan, surging 437.56% year-on-year. For January-February 2026, the company expects revenue between 4 billion and 4.5 billion yuan, representing growth of 340% to 395% year-on-year, and a net profit attributable to shareholders of 1.5 billion to 1.8 billion yuan, turning a profit compared to a loss in the same period last year.
Regarding the reasons for the performance change, BIWIN stated that the memory industry entered a period of high prosperity in 2026, driven by AI computing power and domestic substitution, leading to continuous price increases for DRAM/NAND. The industry is facing supply shortages, from which the company benefits significantly. Simultaneously, to enhance the market competitiveness of its products in the AI era, the company continues to increase investments in chip design, solutions, advanced packaging and testing, and testing equipment.
Besides BIWIN, several other memory chip companies have also reported positive results.
The annual report disclosed by Longsys last Friday showed the company achieved revenue of 10.789 billion yuan in 2025, a year-on-year increase of 126.07%, breaking the 100 billion yuan mark for the first time. Adjusted net profit attributable to shareholders was 688 million yuan, a significant increase of 120.77% year-on-year. An earnings preview from MONTAGE TECH showed the company achieved revenue of 5.456 billion yuan in 2025, up 49.94% year-on-year, with net profit attributable to shareholders of 2.236 billion yuan, an increase of 58.35% year-on-year.
Memory Upturn Cycle May Last Until 2027 A report released by Goldman Sachs in February 2026 pointed out that the global memory chip market is facing the most severe supply shortage in the past 15 years. The supply-demand gaps for DRAM, NAND, and HBM in 2026 are projected to be 4.9%, 4.2%, and 5.1% respectively. This shortage situation is expected to persist until 2027, or even longer.
A Dongguan Securities research report believes that the rapid increase in demand for high-density memory from AI data centers could extend the memory chip industry's upturn cycle until 2027. The core logic lies in the strong rigidity and sustainability of AI demand; continuously rising memory chip prices are driving profit growth for related companies; semiconductor equipment and materials companies benefit from advanced process capacity expansion and supply chain localization efforts; coupled with policy support, the overall industry prosperity is expected to continue rising.
China Galaxy Securities also noted that the current moment marks a new starting point for the next cycle in the memory chip sector. Against the backdrop of rapidly growing demand for AI servers and domestic innovation, they are optimistic about the investment opportunities for relevant listed companies within the domestic memory industry chain. They suggest focusing on relevant IC design manufacturers and memory module manufacturers, while also paying attention to AI-related PCB companies.
Multiple Concept Stocks Receive Concentrated Institutional Attention Data from an East Money Information concept板块 shows that approximately one hundred A-share stocks are currently associated with the memory chip concept, with a combined total market capitalization exceeding 4.3 trillion yuan. SMIC leads with a total market cap of 853.66 billion yuan, followed by AMEC, Hua Hong Semiconductor, GigaDevice, MONTAGE TECH, and Shennan Circuits, all with market capitalizations around 200 billion yuan.
Since the start of the year, about 70% of memory chip concept stocks have seen their share prices rise, with an average increase of approximately 14%. Among them, Puya Semiconductor's stock price surged by 90%, while Deke Semiconductor followed with a 78.52% increase. Jfeng Electronic and Dello Laser both rose over 62%, and Hensym, BIWIN Storage, Kexiang, and five other stocks all gained more than 50%.
In terms of funding, data from East Money Information Choice shows that 28 concept stocks have received net margin buying exceeding 100 million yuan year-to-date. BIWIN Storage saw significant buying from margin traders amounting to 1.023 billion yuan. Jiangbolong and Tongfu Microelectronics had net margin purchases of 751 million yuan and 623 million yuan respectively. MONTAGE TECH, Longsys, Kexiang, and five other stocks each received over 400 million yuan in leveraged fund inflows.
Regarding institutional attention, since the start of 2026, a total of 30 memory chip concept stocks have been surveyed by institutions. Jingzhida led with 277 participating institutions. Yintan, China Resources Microelectronics, Dosin, and Deke Semiconductor each attracted over one hundred institutions for concentrated surveys. ZW, Tongfu Microelectronics, BIWIN Storage, Puya Semiconductor, and six other stocks received attention from more than 30 institutions each.
"With the rapid development of the domestic memory industry and continuously strong market demand, the company has disclosed related contracts totaling over 2 billion yuan from 2025 to date, fully reflecting the urgent demand from downstream clients for our testing equipment," revealed Jingzhida during an institutional survey, adding that current semiconductor orders are highly robust, with core production capacity at full utilization, and the company is leveraging existing capacity to fully ensure product delivery for strategic clients.
Dosin indicated in its survey that the memory products it deals with are currently in a phase of price increases, showing a continuously positive trend.
Deke Semiconductor pointed out that over the next three years, based on market demand and the core competitiveness of its memory business, the company's memory business is expected to achieve sustained growth.
Comments