On the morning of May 18th, the title of "Stock King" on the A-share market changed hands, with Semight Instruments Co.,Ltd. (688808) overtaking Kweichow Moutai Co.,Ltd. (600519) to become the new highest-priced stock. This marks the second such change in leadership since the beginning of May.
At the time of writing, Semight Instruments surged to a high of 1,361 yuan per share, a gain of 16.32%. Concurrently, Kweichow Moutai's stock turned from gains to losses, dipping below 1,330 yuan.
Cambricon Technologies Corporation Limited (688256) and YOFC Advanced Semiconductor Co., Ltd. (688498), which had previously held the "Stock King" title, implemented their 2025 annual profit distribution plans in May.
Cambricon's 2025 distribution plan involved a cash dividend of 15.00 yuan per 10 shares (pre-tax) and a capital reserve transfer of 4.9 additional shares per 10 shares, based on the total share capital registered on the record date, excluding shares in the repurchase account.
YOFC Advanced Semiconductor's 2025 distribution plan was a cash dividend of 7.00 yuan per 10 shares (pre-tax) and a capital reserve transfer of 4.5 additional shares per 10 shares, based on the total share capital prior to the plan's implementation.
Following these distributions, Cambricon's stock price fell to around 1,240 yuan per share, while YOFC Advanced Semiconductor's price dropped below 1,100 yuan.
Public information shows that Semight Instruments debuted on the A-share market on April 24th with an IPO price of 81.88 yuan per share. After 14 trading days, its current price represents an increase of over 15.6 times its issue price.
Semight Instruments is a national-level "Little Giant" enterprise specializing in the R&D and manufacturing of test instruments and equipment for high-speed communications, electrical performance, optical chips, and semiconductor wafer chips. It is a leading domestic player in high-end electronic measurement and semiconductor test equipment. The company's core products cover critical areas such as 400G/800G/1.6T high-speed optical module testing and silicon carbide power device wafer-level aging. Its market share in optoelectronic device test equipment and silicon carbide power device wafer-level aging systems ranks first in China, reaching as high as 43.6%. It is the only domestic manufacturer among the top five in China's optical communication test instrument market.
Financial reports indicate that in Q1 2026, Semight Instruments achieved operating revenue of 488 million yuan, a year-on-year increase of 142.52%. Net profit attributable to shareholders was 119 million yuan, surging 515.17% year-on-year. Net cash flow from operating activities was 83.41 million yuan. As of the end of the reporting period, the company's total assets reached 2.297 billion yuan.
Regarding the significant growth in Q1 2026 performance, Semight Instruments attributed it primarily to the explosive demand for AI computing power and the accelerated pace of data center construction during the reporting period. This drove sustained high growth in demand for high-speed optical communication products, with downstream customers showing strong willingness to expand production, thereby rapidly increasing market demand for the company's communication test instruments and other products.
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