Shanghai, Jan 26, 2026, 07:08 (GMT+8) — Premarket
Shares of Shanghai-listed Montage Technology Co., Ltd. Class A (688008.SS) drew attention before Monday’s trading as the stock dropped 4.7% in the previous session, closing at 160.02 yuan. 1
The pullback is significant because Montage has emerged as a favored China-listed play on the AI data-centre expansion, driven by the need for faster connections between processors and memory. But the trade leans heavily on slogans as much as actual shipments, and investors tend to react swiftly to any shortfall.
Another cloud looms over the tape: fresh supply could hit the market. Reuters reported earlier this month that Montage aims to launch a Hong Kong secondary listing, raising between $800 million and $1 billion through a share sale. One source pegged the date for the listing as Jan. 26. 2
Late on Jan. 23, Securities Daily reported via Eastmoney that Montage informed investors on an interaction platform it “does not currently involve HBM or HBF product lines.” HBM, or high-bandwidth memory, refers to stacked memory designed to supply data-hungry AI processors. 3
Friday’s trading proved volatile. According to a Bloomberg screen, the stock kicked off at 163.20 yuan, fluctuating between 158.01 and 170.47 yuan, with roughly 74.4 million shares changing hands. Montage’s market capitalization hovered around 183.5 billion yuan. 4
Investing.com lists the 52-week range between 62.00 and 181.80 yuan, highlighting how volatile sentiment has been in the chip sector. Friday’s close settled well under the recent high, yet it remains comfortably above the lows from last year. 5
In a filing dated Jan. 17, the company projected its 2025 net profit to hit between 2.15 billion and 2.35 billion yuan, marking a 52% to 66% jump from last year. It attributed the boost to stronger demand that drove up shipments of its interconnect chips, which play a key role in routing data within servers. 6
The setup isn’t one-sided. Should the next wave of AI spending focus on HBM and accelerators instead of the wider server components, the market usually zeroes in on a few winners—and crowded trades can unravel quickly.
Traders are eyeing whether Montage can hold steady near 160 yuan, alongside any new updates linked to the Hong Kong fundraising. The next key date is the company’s Q4 2025 earnings report, scheduled for March 30, according to MarketScreener. 7
