AI + Performance Double Engine Drives Sector Uptrend, Dinglong Co. Hits "20cm" Limit Up

MaticHoleFiller · 2026-03-28T22:43:36+00:00

The innovative chip sector is currently experiencing a high-growth window, with AI industry driving a surge in demand and memory chip prices continuously rising. The industry has strong demand and performance realization logic. SMIC and Dinglong Co., Ltd. have both released impressive earnings reports, and the market is focusing on the structural growth of memory chips.

MaticHoleFiller

2026-03-28 22:43:36

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（Source: 财闻）

          The 科创芯片 (innovation-focused chip) sector is entering a high-optimism window where volume and price are moving in sync. Demand is surging driven by the AI industry. Memory prices have continued to climb due to ongoing supply-demand imbalances. Combined with the deepening logic of domestic substitution, the sector features three core investment theses: strong demand, upward pricing, and performance delivery.

On March 27, chip-related concept stocks were active in the afternoon. Dinglong Shares (300054.SZ) hit a 20cm daily limit-up. Shengjian Technology (603324.SH) also hit the daily limit-up. Guoxin Technology (688262.SH), Semiconductor Manufacturing International Corporation (688981.SH), Siji Micro-Assembly (688630.SH), Guofeng New Material (000859.SZ), Xinyuan Micro (688037.SH), and Rongda Photoelectric (300576.SZ) all followed suit with gains.

On the news front, Semiconductor Manufacturing International Corporation released its 2025 performance report. For 2025, the company recorded operating revenue of $9.327 billion, up 16.2% year over year. Of this, revenue from its wafer foundry services was $8,796.4 million, up 17.5% year over year. In addition, Dinglong Shares released its Q1 report, projecting net profit of RMB 240 million~260 million, up 70.22%~84.41% year over year.

Moreover, the memory chip market is breaking out of the traditional cyclical logic and entering a new growth era driven by AI. China Galaxy Securities emphasized that this round of the memory market has shifted from cyclical games to structural growth. A surge in memory usage in AI servers is the core driving force, and the storage sector is showing dual certainty: “solid performance and strong long-term logic.”

Dongwu Securities noted that as Moore’s Law progresses, chip design has evolved into a complex systems engineering effort that encompasses multi-physics field coupling, heterogeneous integration, and higher-level reliability. A single team can no longer independently shoulder the high trial-and-error costs; it must rely on professional design service providers with end-to-end modeling capabilities and deep collaboration experience with Foundry/OSAT. Taiwan-based ASIC vendors such as UMCY/世芯-KY have upgraded from project-based design services to a Turnkey platform covering wafer fabrication, packaging, and mass production ramp-up. In the AI/HPC cycle, they have strengthened capabilities in 3nm, 2nm, and 3DIC. Their growth potential is highly tied to large customer project schedules and the progress of adopting advanced process nodes.

China Merchants Securities stated that the innovation-focused chip sector is entering a high-optimism window where volume and price are moving in sync. Demand surges driven by the AI industry. Memory prices continue to rise due to supply-demand imbalances. Combined with the deepening logic of domestic substitution, the sector has three core investment theses: strong demand, upward pricing, and performance delivery.

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