Shanghai, Jan 19, 2026, 09:48 CST — The regular session is now in progress.
Piotech, Inc. Class A shares slipped about 2.2% to 377.13 yuan in Shanghai’s morning session, off Friday’s 385.68 close. The stock opened at 385.68 yuan and swung between 377.00 and 386.29 yuan, hovering near its 52-week high of 394 yuan, according to market data. 1
This move stands out, given the stock’s key role in China’s early-2026 tech rally, where chip-related firms are carrying much of the risk appetite. An onshore tech index, akin to Nasdaq, has jumped nearly 13% this month. Mark Mobius, managing director of Mobius Emerging Opportunities Fund, told Bloomberg TV on Friday, “the money is going in that direction.” 2
Markets felt the pressure from overnight headlines. Asian stocks slipped, and the dollar eased following U.S. President Donald Trump’s threat of new tariffs targeting eight European countries. China is due to release its Q4 GDP data later Monday, according to Reuters. George Saravelos, Deutsche Bank’s global head of FX research, called the move “a weaponization of capital rather than trade flows.”
Piotech trades on Shanghai’s STAR Market, the tech-focused board where mainland “A-shares” (yuan-denominated stocks) move sharply on policy and macro changes. Traders frequently treat it as a fast barometer for domestic semiconductor capacity investment.
Piotech produces thin-film deposition equipment, which is crucial for making memory and logic chips. According to LSEG data, the company focuses mainly on the domestic market. 3
China is stepping up efforts to grow its domestic chip tool industry, giving the sector a noticeable boost. A Reuters report from late December revealed that chipmakers seeking government approval for new capacity must source at least 50% of their equipment from local suppliers. This move stands to favor Chinese companies like Naura Technology and Advanced Micro-Fabrication Equipment (AMEC), while adding strain on foreign firms such as Lam Research. 4
That policy bet cuts both ways. When the market prices in slower growth, tighter funding, or fresh tech export limits, high-multiple chip-equipment stocks tend to tumble more sharply than the broader index.
Piotech is set for an extraordinary shareholders meeting on Jan. 26 in Shenyang, which will also feature online voting. The main points on the agenda: appointing a non-independent director and adjusting board committee roles, the company said in a notice. Investors need to be registered by Jan. 19 to cast their votes. 5
