Shanghai, Feb 1, 2026, 10:10 (CST) — The market has closed.
- Shares closed at 63.77 yuan, down 0.02%, after trading in a range from 61.50 to 64.65 throughout the session.
- The chipmaker told investors it anticipates “positive” revenue and gross margin growth in 2026, driven by increasing demand in autos, energy storage, and AI-related gear.
- Pricing momentum, the rollout of third-generation semiconductors, and the expansion of 12-inch wafer capacity remain key focuses for investors.
China Resources Microelectronics Ltd. Class A shares (688396) could draw fresh interest in the next session after the company laid out an optimistic 2026 outlook at its recent investor briefing. The stock closed Friday at 63.77 yuan, down a touch by 0.02%, with about 16.7 million shares changing hands. (StockAnalysis)
Traders are caught in a tricky but revealing spot. Mainland equities are shut for the weekend, but the filing delivers clearer insights into pricing, utilization, and fresh demand — the main forces driving rapid shifts in power-chip shares.
After a strong start to the year, shares have gained about 20.6% since January 1, even with a sluggish five-day stretch lately. The stock’s price now swings quickly on any hint of margin changes. (MarketScreener)
The company flagged “positive” growth across several end-markets, with autos and energy storage leading the charge. It also sees demand gaining traction in emerging areas such as AI servers, robots, and drones as customers scale up. The report projects a “positive” revenue and gross margin outlook for 2026. (sns.sseinfo.com)
Management stressed the importance of mix and scale rather than relying on a single product. The company plans to increase its stake in higher value-added items, such as modules and system-level solutions, pointing to its two 12-inch wafer projects as key drivers for both output and profits.
The company sounded cautious on pricing but signaled some upward pressure. Utilisation remains robust, and it plans to “dynamically” adjust product mix and pricing. Prices are expected to rise as supply-demand balances evolve.
The company also outlined its position on third-generation semiconductors—namely silicon carbide and gallium nitride devices, crucial for high-efficiency power systems such as EV drivetrains and data centres. It expects its SiC production lines to be running near full capacity by 2025, with robust growth projected for 2026. Revenue from this segment is set to more than double.
The 12-inch angle reveals a bigger structural challenge. The company says it holds 19% of its Chongqing 12-inch line and 33% of the Shenzhen 12-inch line. Both lines are currently outside the listed-company perimeter; the firm intends to bring them in as projects progress and profitability improves.
Spending plans sounded more measured compared to past buildout cycles. The company said most big capacity projects are locked in, with fixed-asset investment expected to level off. That said, it will maintain flexibility for selective investments and M&A in “key areas” as those projects move forward.
The path forward looks bumpy. Weaker demand threatens to throw off attempts to maintain stable prices, while new capacity—especially in power semiconductors—might force price reductions if buyers hesitate. Getting the 12-inch assets into the public company depends on execution, profits, and regulatory approvals, any of which could be delayed.
Monday’s open will be under the microscope as traders watch to see if the filing sparks margin shifts or gets shrugged off as just noise. Eyes will also track sector rivals like Silan Microelectronics and StarPower Semiconductor, looking for signs of capital flowing into domestic power-chip stocks. The next real trigger comes with the company’s 2025 annual report, scheduled for April 25, according to an Eastmoney calendar. (data.eastmoney.com)
