
AI-generated summary
Changxin Memory is a Chinese memory manufacturer. Its announcement of the launch of new architecture server DDR5 memory has attracted market attention to the DRAM supply pattern. Nanya, a major DRAM manufacturer in Taiwan, has recently benefited from rising prices driven by AI demand.
[Reporter Lin Yiru/Taipei Report] China Changxin Memory has recently announced that it will launch server DDR5 memory using 4F² architecture before the end of the year. The market’s doubts about future supply expansion and price competition continue to simmer. DRAM major Nanya ( 2408)’s stock price plunged today (15th), plunging 9.26% to 436 yuan in early trading, a new low in more than two months. As of 10:23 a.m., it was still down 8.2%, temporarily trading at 441 yuan, with a trading volume of 44,000 contracts.
Foreign investors have sold over 22,000 lots in Nanya for days in a row. Yesterday, they sold more than 22,000 lots. They have sold more than 3 trading days in a row, and the cumulative number of oversold lots reached 67,000. Investment trust also sold over 833 lots yesterday, 2 times in a row, and a total of over 2,841 lots were sold. Self-operated traders also sold 1,275 lots yesterday, and a total of over 3,855 lots were sold in the past 2 trading days. The three major legal persons sold on the same site yesterday, and a total of over 25,000 lots were sold.
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Nanya is optimistic that the average sales price (ASP) in the third quarter will increase by about 60% quarter-on-quarter. Prices are expected to continue to rise in the fourth quarter, and the gross profit margin in the fourth quarter is expected to be better than that in the third quarter. Li Peiying, general manager of Nanya, also bluntly said that the market is still very out of stock, AI-related demand is particularly strong, and the gap between supply and demand is also large. Nanya's current AI infrastructure (including servers, networks, storage and system management) accounts for more than 20% of revenue, and the proportion of related revenue will continue to increase from 2027 to 2029.
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AI outlook — possibilities, not facts
Nanya’s average sales price will continue to rise in the fourth quarter
Likely · Within months
Nanya's gross profit margin in the fourth quarter will be better than that in the third quarter
Possible · Within months

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