Shanghai, Feb 1, 2026, 10:10 (CST) — Market closed.
- Shares ended at 63.77 yuan, slipping 0.02%, after swinging between 61.50 and 64.65 during the session.
- The chipmaker told investors it expects “positive” revenue and gross margin growth in 2026, fueled by rising demand in autos, energy storage, and AI-related equipment.
- Investors are keeping an eye on pricing momentum, the rollout of third-generation semiconductors, and the expansion of 12-inch wafer capacity.
China Resources Microelectronics Ltd. Class A shares (688396) are poised for renewed attention in the upcoming session following a positive 2026 outlook shared in a recent investor briefing. The stock ended Friday at 63.77 yuan, slipping 0.02%, on a volume of roughly 16.7 million shares. (StockAnalysis)
Traders face an awkward but useful moment. Mainland equities are closed for the weekend, yet the filing offers sharper clues on pricing, utilisation, and emerging demand — the key drivers behind the swift moves in power-chip stocks.
Coming off a solid run earlier this year, the shares have climbed roughly 20.6% since January 1, despite a weak five-day patch recently. The stock’s valuation now reacts sharply to any signs of margin shifts. (MarketScreener)
The company reported “positive” growth in multiple end-markets, highlighting autos and energy storage. It also expects demand to pick up from emerging sectors like AI servers, robots, and drones as customers ramp up. The document showed a “positive” outlook for revenue and gross margin in 2026. (Sseinfo)
Management emphasized mix and scale over betting on one product. The company aims to boost its share of higher value-added goods, like modules and system-level solutions, highlighting its two 12-inch wafer projects as crucial for driving output and profits.
On pricing, the company took a cautious tone but hinted at upward pressure. It noted utilisation stays strong and plans to “dynamically” adjust product mix and pricing, with prices trending upward as supply-demand balances shift.
The company also clarified its stance on third-generation semiconductors — specifically silicon carbide and gallium nitride devices, key for high-efficiency power systems like EV drivetrains and data centres. It said its SiC production lines will be nearly maxed out in 2025, with strong growth anticipated in 2026. Revenue from this segment is expected to more than double.
The 12-inch angle poses a larger structural issue. The company disclosed it owns 19% of its Chongqing 12-inch line and 33% of the Shenzhen 12-inch line. Both lines remain outside the listed-company perimeter for now; the firm plans to integrate them based on project developments and profitability.
On spending, the tone came across as steadier than in previous buildout years. The company noted that most major capacity projects are already set, expecting fixed-asset investment to stabilize. Still, it plans to leave room for targeted investment and M&A in “key areas” as projects progress.
The road ahead isn’t smooth. Softer demand could disrupt efforts to keep prices steady, and fresh capacity—particularly in power semiconductors—risks triggering price cuts if buyers hold back. Bringing the 12-inch assets into the public company hinges on execution, profits, and regulatory sign-offs, all of which could face delays.
Traders will be monitoring Monday’s open closely to see if the filing triggers margin moves or is dismissed as mere talk. Attention will also be on sector peers like Silan Microelectronics and StarPower Semiconductor to gauge if they attract capital into domestic power-chip stocks. The next solid catalyst arrives with the company’s 2025 annual report, due April 25, per an Eastmoney calendar. (Eastmoney)
