ChangXin's Market Cap Returns to 4 Trillion Yuan, Equivalent to ~2.5 Moutai; Is the AI Memory Dividend Just Beginning?

ChangXin Technology hit a new high. Core driving factors include: the AI-driven DRAM upcycle continues; domestic substitution accelerates, with ChangXin's market share steadily rising; meanwhile, major manufacturers are shifting capacity toward HBM, leaving limited new capacity for traditional DRAM, while ChangXin's capacity expansion exceeds expectations—projected to add 85,000 wafers per month by end-2026 versus end-2025, 4.25 times the combined new capacity of Samsung and SK Hynix over the same period.