300 billion giant races ahead! Lankou Technology rises over 18%, and the global storage market is experiencing an unprecedented super cycle

Ask AI · What is the driving force behind Lianqi Technology’s transformation to full interconnect chips?

As of 2:20 PM on May 11, semiconductor equipment stocks continued to strengthen during the trading session, with the Sci-Tech Innovation Chip ETF (588290) rising by 5.52%. Among its constituents, China Ship Gas rose 20.00%, Lianqi Technology increased 17.89%, Juchen Co. up 16.85%, Tianyue Advanced, Sirui Pu, and others followed suit.

The Sci-Tech Innovation Chip ETF (588290) focuses on chip companies listed on the STAR Market, with more “core” constituents, a high proportion of CPU + AI chip design companies, offering greater flexibility. The ETF management fee is 0.15%, with a custody fee of 0.05%, the lowest rate among similar indices. Over the past two weeks, it has gained 15.47%.

Today’s market shows that Lianqi Technology, a global leader in memory interface chips with a market value exceeding 300 billion yuan, surged over 18%. Behind the sharp rise in stock price, in the first quarter of 2026, Lianqi Technology achieved operating revenue of 1.46B yuan, a 19.5% increase year-over-year; gross profit margin was 69.8%, up 9.3 percentage points from the same period last year; net profit attributable to shareholders of the listed company was 847 million yuan, a 61.3% increase year-over-year.

More noteworthy is the optimization of the company’s product structure. The shipment volume of DDR5 RCD chips significantly increased, and new interconnect chip products such as MRCD/MDB, PCIe Retimer, CKD, and CXL MXC chips saw substantial revenue growth. This indicates that Lianqi Technology is transitioning from a sole supplier of memory interface chips to a provider of full interconnect chip solutions.

Industry-wide, more than half of the listed semiconductor companies (Shenwan) reported year-over-year growth in net profit attributable to parent in Q1 2026, with overall industry gross profit margin increasing by 2.49 percentage points quarter-over-quarter. According to IDC’s April forecast, the global semiconductor market size in 2026 will reach $1.29 trillion, a year-over-year increase of 52.8%.

The global storage market is currently experiencing an unprecedented super cycle. Reports indicate that ByteDance has increased its AI infrastructure spending plan by 25% to 200 billion yuan this year. This massive investment not only boosts demand for compute chips like GPUs but also directly drives the demand for supporting storage chips.

Huayuan Securities states that glass substrate technology is expected to lead the transformation of advanced semiconductor packaging materials. Although organic substrates will still dominate the market in the short term, the maturity and market acceptance of glass substrates are improving. It is expected that by 2030, the global penetration rate will exceed 2%, with significant development potential. The industry chain covers raw materials, equipment, technology, manufacturing, packaging testing, and applications. With technological progress, glass substrates will occupy a more important position in semiconductor packaging.

Caitong Securities notes that under the background of wafer fab expansion, supply chain security reassessment, and strengthened expectations for substitution of Japanese materials, the verification process and domestic substitution rate of some materials are accelerating. The semiconductor materials sector is simultaneously driven by upward industry trends, advanced process inflation, market share growth, and domestic substitution. (Note: The above information is for reference only and does not constitute investment advice. The market carries risks; please invest cautiously.)

Daily Economic News