Dosilicon Co. Ltd. Class A (688110.SH) Surges 12.8% on November 27, 2025 as Memory Chip Rally Accelerates

Published: November 27, 2025 — Shanghai, China

Dosilicon Co. Ltd. Class A (Shanghai: 688110) extended its explosive 2025 run today, closing at CNY 134.02, up 12.81% on the session and marking one of the strongest moves on Shanghai’s STAR Market. ^[1]

While there were no new company-specific announcements or filings published today, Dosilicon’s rally unfolded against a backdrop of renewed enthusiasm for Chinese memory and AI-related semiconductor names, with the stock once again appearing on lists of top Shanghai gainers. ^[2]

Today’s Dosilicon Stock Snapshot (27 November 2025)

Exchange: Shanghai Stock Exchange (STAR Market)
Ticker: 688110 (Dosilicon Co., Ltd. Class A) ^[3]

Session highlights (Nov 27, 2025 close): ^[4]

Last price: CNY 134.02
Daily change: +CNY 15.22 (+12.81%)
Intraday range: CNY 120.42 – 139.84
Previous close (Nov 26): CNY 118.80
Approx. volume: 64.15 million lots
Market cap: ≈ CNY 59.3 billion
52‑week range: CNY 21.90 – 139.84

By comparison, the Shanghai Composite Index was slightly weaker earlier in the day around 3,864 points, down about 0.15%, underscoring how sharply Dosilicon outperformed the broader A-share market. ^[5]

What’s New Today for Dosilicon?

1. A Top Gainer on the STAR Market

Real‑time Chinese market data providers show Dosilicon among the biggest daily gainers on the Shanghai STAR board on November 27, with a double‑digit percentage rise and heavy turnover. ^[6]

Key intraday trading signals:

Strong upward momentum: Price moved from just above CNY 120 to an intraday peak near CNY 140.
High liquidity: Turnover of roughly CNY 8.23 billion on the day, far above its long‑term average volumes. ^[7]
Close near the upper end of the day’s range, suggesting persistent buying interest into the close. ^[8]

This move comes only a week after the stock featured prominently in a Shanghai market wrap where it jumped 12.75% on November 19 even as the Shanghai Composite fell, highlighting how traders have increasingly treated Dosilicon as a high‑beta vehicle for China’s chip rally. ^[9]

2. No New Corporate Filings or Major Press Releases Today

As of the close on November 27, 2025, there are no fresh earnings releases, official announcements, or regulator‑flagged disclosures from Dosilicon dated today on major financial terminals and news feeds. Recent company‑specific milestones instead cluster around:

Q3 2025 earnings (reported on October 29, 2025)
Earlier 2025 updates on earnings, governance and risk from analyst platforms
An August 2025 trading suspension due to unusual price volatility

In other words, today’s rally appears to be market‑driven rather than triggered by a new company statement. ^[10]

3. Sector Narrative: Memory Prices Seen Rising ~50%

The dominant macro driver remains an aggressive upward re‑rating of the memory industry. A widely cited report on November 19 highlighted forecasts that memory prices could rise by roughly 50% by the second quarter of 2026, citing tight supply and surging demand from AI and high‑performance computing. ^[11]

That same piece flagged Dosilicon among notable movers in the niche memory segment, and Chinese brokers argued that domestic storage and memory chip companies are entering an “accelerated upward cycle” with profits expected to ramp in the second half of 2025 and beyond. ^[12]

Today’s outsized move in Dosilicon fits neatly into that narrative: the stock is increasingly trading as a leveraged play on the AI‑driven memory super‑cycle, rather than on near‑term earnings alone.

Company Profile: A Fabless Chinese Memory Specialist

Dosilicon Co., Ltd. is a fabless memory solution provider headquartered in Shanghai and founded in 2014. ^[13]

The company’s core lines include: ^[14]

Non‑volatile memory
- NAND flash (data storage)
- NOR flash (code storage)
Volatile memory
- DRAM (dynamic RAM)
- Low‑power LPDDR series
Multi‑chip packages (MCPs) and related memory solutions

Its chips are used across:

Network and communication equipment
Internet of Things devices
Industrial control systems
Security and monitoring hardware

With around 300+ employees and a fabless model, Dosilicon taps external foundries but focuses internally on design, R&D, and system‑level solutions, positioning itself as a domestic alternative to global memory giants in strategic Chinese markets. ^[15]

2025 Performance: From Niche Name to Multi‑Bagger

Even before today’s surge, Dosilicon had already delivered triple‑digit returns in 2025. Long‑horizon performance metrics from Chinese brokerage dashboards show: ^[16]

Massive gains over 6–12 months, with multi‑hundred‑percent increases
New all‑time highs around CNY 139.84, reached within the last few sessions
A 52‑week low near CNY 21.90, underlining just how explosive the rally has been

Independent data aggregators also show that the stock’s 52‑week high of CNY 136 was first set in early September 2025; today’s intraday high slightly eclipsed that level, implying that Dosilicon is now trading at or above its historical peak. ^[17]

However, this rapid ascent has not come without turbulence. In August 2025, Dosilicon temporarily suspended trading after reporting “abnormal price fluctuations” in a regulatory filing — a move mentioned in international coverage of China’s AI and chip mania. ^[18]

The sequence paints a clear picture:

2024: margins and earnings under pressure, share price still consolidating
Early–mid 2025: memory/AI narrative takes off; Dosilicon begins to decouple from fundamentals
Aug 2025: trading suspension underscores regulatory concern about overheating
Nov 2025: stock repeatedly appears among top STAR Market gainers, including today’s +12.8% move

Earnings Check: Still Loss‑Making Despite the Rally

Fundamentally, Dosilicon remains loss‑making even as its valuation soars.

Recent results

Q3 2025 (reported Oct 29):
- EPS: about –CNY 0.08 per share
- Revenue: ~CNY 229.6 million
- Loss narrowed slightly versus Q3 2024, but profitability remains out of reach. ^[19]
Trailing twelve months:
- EPS (TTM) around –CNY 0.42, according to FT data, implying negative trailing P/E and reinforcing that the current run‑up is not driven by established earnings power. ^[20]

Simply Wall St’s structured analysis notes a series of quarterly losses through 2024 and 2025, along with repeated mentions of risks around share‑price stability and expectations that profitability could still be several cycles away. ^[21]

Valuation snapshot

Based on today’s close: ^[22]

Market cap: ≈ CNY 59.3 billion
Price‑to‑book (P/B): ~19x
P/E (TTM): not meaningful (negative earnings)

That P/B multiple is extraordinarily rich versus many global memory peers and even against other high‑growth Chinese semiconductor names, highlighting how much of the current price reflects future expectations rather than current profits.

Strategic Angle: AI Exposure and GPU Ecosystem

Beyond mainstream memory, Dosilicon has been steadily inserting itself into the AI hardware ecosystem:

In September 2025, CB Insights data show Dosilicon co‑leading a roughly CNY 211 million investment in Shanghai Lisuan Technology, an emerging domestic GPU designer. ^[23]
Subsequent Chinese financial press reports noted that Lisuan’s first graphics rendering GPU chip has entered sampling, pointing to an early but tangible GPU roadmap where Dosilicon is both investor and ecosystem partner. ^[24]

For investors, this means Dosilicon is increasingly being seen not just as a flash/DRAM supplier, but as a leveraged play on China’s broader AI hardware stack — from memory to accelerators. That perception helps explain why the stock often responds strongly to news about AI infrastructure, GPU demand, and domestic semiconductor policy, even when such news does not mention the company by name.

Risks: Volatility, Regulation and Path to Profitability

Today’s jump is eye‑catching, but it comes with considerable risk.

Extreme volatility & prior trading suspension
- Dosilicon’s August 2025 trading halt, triggered by “unusual price fluctuations”, shows regulators are already watching the stock’s behaviour. ^[25]
- Daily moves in the double digits, like today’s, cut both ways; previous rallies have been followed by equally steep pullbacks. ^[26]
Fundamentals lagging valuation
- Multiple recent quarters of net losses and a negative EPS trend contrast with the steep rise in market cap and valuation multiples. ^[27]
- Analyst commentary has repeatedly flagged concerns about high P/S and P/B ratios relative to growth and the company’s ability to transform revenue into sustainable profit. ^[28]
Cyclicality of memory & AI hardware
- The same institutional research that forecasts a 50% surge in memory prices by 2026 also acknowledges that the cycle is driven by supply bottlenecks and AI demand that could normalize. If the cycle turns sooner or more sharply than expected, high‑beta names like Dosilicon could see outsized downside. ^[29]
Ownership and sentiment risks
- Ownership analysis shows a large retail investor base, with retail shareholders holding close to half of the free float, which can amplify sentiment‑driven swings. ^[30]

What to Watch After Today’s Rally

Looking ahead from November 27, 2025, key catalysts for Dosilicon include:

Memory price trends into 2026
- Whether the forecasted ~50% price increase in memory actually materializes — and how long elevated pricing persists. ^[31]
Next earnings updates
- Investors will look closely at upcoming quarterly and full‑year 2025 results for signs that Dosilicon is narrowing losses and turning higher ASPs into improved margins rather than just top‑line growth. ^[32]
Regulatory stance on speculative trading
- Following this year’s trading suspension, any further large price spikes could invite additional scrutiny, especially as Chinese regulators try to balance capital‑market enthusiasm with stability. ^[33]
Execution in AI and GPU‑adjacent bets
- Progress at Lisuan Technology and other ecosystem partners could eventually justify some of the premium valuation — but only if products move from sampling to high‑volume deployment and generate visible financial returns for Dosilicon. ^[34]

Bottom Line

On November 27, 2025, Dosilicon Co. Ltd. Class A once again lived up to its reputation as one of Shanghai’s most volatile semiconductor names, soaring 12.81% to a new high zone around CNY 134 in heavy trading. ^[35]

The move comes without fresh company‑specific news today, but in lockstep with a powerful narrative: China’s memory and AI‑chip cycle is heating up, and investors are flocking to high‑beta, domestically focused names like Dosilicon as vehicles for that theme. ^[36]

At the same time, Dosilicon remains loss‑making, is valued at a very high multiple of book value, and has already prompted regulatory intervention once this year due to sharp price swings. ^[37]

For market watchers and readers of Google News and Discover, Dosilicon’s story today is best understood as a classic high‑growth, high‑volatility semiconductor trade: a pure play on the AI‑driven memory boom — but one where sentiment and speculation currently matter at least as much as fundamentals.

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