Shanghai, Jan 26, 2026, 10:29 CST — Regular session
- Dosilicon (688110) shares climbed close to 8% during morning trading
- Company projects roughly 44% revenue growth for 2025 but still anticipates a full-year net loss
- Traders are eyeing memory-chip prices alongside the schedule for the April 23 annual reports
Dosilicon Co., Ltd.’s A-shares climbed Monday morning in Shanghai following the chip designer’s forecast of a steep revenue surge in 2025, despite anticipating continued losses. The shares gained 7.96% to 129.88 yuan by 10:24 a.m. CST, hitting a session high of 136.50.
This filing is significant because it offers an early glimpse of whether rising memory-chip prices are actually hitting company earnings, beyond just boosting stock prices. It also shifts attention back to Dosilicon’s expanding stake in a graphics-processor project, a key point investors have been watching closely ahead of year-end results.
Semiconductor stocks gained ground broadly after a market note referenced media reports that Samsung Electronics plans to hike first-quarter NAND flash prices by over 100%. NAND flash, a kind of non-volatile memory used in storage, sparked a rally across several chipmakers on the news.
Dosilicon announced in a Jan. 24 exchange filing that it anticipates 2025 revenue to reach around 921.4 million yuan, marking a roughly 43.75% increase from last year. However, it projects a net loss attributable to shareholders between 174 million and 214 million yuan, a key bottom-line metric in Chinese financial reports.
The company attributed the revenue boost to an “upcycle” in small and mid-capacity storage chips, noting better supply-demand balance and a rebound in selling prices. It highlighted stronger downstream demand in sectors like 5G base stations, smart-city security upgrades, wearables, and automotive electronics. Gross margin also climbed as the storage segment swung back into profitability. Paper.cnstock
The profit line lagged behind. Dosilicon reported sustained high R&D expenses, ramping up spending on Wi‑Fi 7 and higher-capacity memory. Losses from investments also dragged down the results.
Dosilicon’s stake in Lisuan Technology (Shanghai) Co., a GPU developer, weighed heavily on its results. The company put in 200 million yuan in Lisuan during 2024, then shelled out another 211 million yuan in 2025. Using the equity method—which records the investor’s share of the investee’s profits or losses—Dosilicon booked an investment loss around 166 million yuan for 2025.
Dosilicon, referred to as Dongxin in Chinese filings, develops and markets memory chips including NAND flash, NOR flash, and DRAM. Its focus is mainly on small- to mid-capacity uses.
The bigger story still centers on AI-driven hardware demand and the memory cycle. Tang Xiaobin, fund manager at GF Fund Management, told China Securities Journal that 2026 could be AI’s “Darwin moment.” This perspective continues to spotlight storage and chip stocks. CS.com.cn
The near-term outlook remains murky. Dosilicon continues to predict a full-year loss, while its GPU-related investment complicates matters. Investors are left trying to figure out how much of the memory-price boost will hold up into the first quarter.
Dosilicon’s audited annual report is the next key event to watch. According to Eastmoney’s corporate calendar, the company plans to release its 2025 annual report on April 23. That report may bring fresh focus on margins, cash flow, and any news regarding Lisuan’s production and sales momentum.
