Cambricon and 6 other STAR Market companies collectively disclose operating conditions, AI industry chain prosperity continues to materialize

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Amid market attention on short-term volatility in the technology sector, several leading companies on the STAR Market have responded to market concerns through announcements.

Recently, seven companies—Cambricon, Biwin Storage, Shengyi Electronics, Yuanjie Technology, Lianxun Instruments, RemeGen, and APT Medical—disclosed their recent production and operating conditions in a concentrated manner. From AI computing power chips, storage, and high-speed interconnect to innovative drugs and interventional medical devices, these companies demonstrated the resilience of the STAR Market's fundamentals through performance growth, order reserves, R&D investment, and capacity building.

Among the seven STAR Market companies that spoke out, five come from segments of the artificial intelligence industry chain. The announcements show that the industry chain's prosperity signals are not merely at the expectation level: chip companies' revenue and profits are growing rapidly, PCB, optical chip, and test equipment companies' orders remain strong, the demand structure for storage products is upgrading at a faster pace, and capacity building and next-generation product validation are also advancing in parallel.

Demand across the industry chain driven by computing power capital expenditure is gradually translating into listed companies' operating results. Computing power chip company Cambricon said that demand in the artificial intelligence computing power market remains robust and can support the company's steady business growth. In the first three quarters of 2026, the company achieved operating revenue of 9.526 billion yuan, up 106.76% year on year; net profit attributable to shareholders of the parent company was 3.715 billion yuan, up 131.49% year on year, an increase of 80.38% over the full year 2025. At the same time, the company's R&D investment in the first three quarters was 1.225 billion yuan, up 45.35% year on year. Among this, the company achieved net profit of 1.404 billion yuan in the third quarter of this year, setting a new single-quarter high since its listing.

In Cambricon's view, as large model technology continues to evolve, the market not only needs more efficient computing hardware to reduce training and inference costs, but also needs more complete software platforms to improve chips' ease of use, scalability, compatibility, and stability in complex scenarios. The company will continue to maintain high-intensity R&D investment in key directions such as chip platforms and software platforms for large models, and deepen software-hardware collaborative optimization capabilities.

Growth in computing power demand is also driving the upgrading of the storage industry. Biwin Storage said that since 2026, affected by factors such as the continued advancement of artificial intelligence computing power infrastructure construction and the growth in storage demand from global data centers and cloud service providers, prices of major storage products such as DRAM and NAND Flash have risen significantly, and industry prosperity has improved. The company is actively expanding application markets such as emerging AI edge devices, PC and enterprise-level storage, and smart vehicles, and continues to advance its dual-wheel-driven strategy of "storage + wafer-level advanced packaging and testing," pursuing technology R&D and industrial application in areas such as advanced storage, compute-storage integrated packaging, and high-speed optoelectronic interconnect.

The PCB segment is also feeling the rise in demand. Shengyi Electronics said that the company currently has sufficient orders, a stable supply chain, and a relatively high capacity utilization rate. Thanks to strong downstream demand in areas such as AI computing power and high-speed communications, the company expects net profit attributable to shareholders of the parent company in the first three quarters of 2026 to be 1.869 billion yuan to 1.952 billion yuan, up 68% to 75% year on year.

Shengyi Electronics believes that as AI servers and high-speed switches upgrade at a faster pace, high-speed, high-layer PCBs have become key components for ensuring high-speed signal integrity and supporting the stable release of computing power. The company's orders for data center-related products such as AI servers and 800G and 1.6T switches are growing steadily, and its 1.6T optical module products have achieved breakthrough progress.

Capacity release accelerates in optical communications

In the high-speed optical communications field, Yuanjie Technology and Lianxun Instruments disclosed their latest operating progress from the laser chip and test instrument segments, respectively.

Yuanjie Technology expects to achieve operating revenue of 650 million yuan to 700 million yuan in the third quarter of 2026, up 264.56% to 292.60% year on year; it expects net profit attributable to shareholders of the parent company of 403 million yuan to 453 million yuan, up 578.85% to 659.70% year on year.

In terms of technology and capacity, Yuanjie Technology is steadily advancing multiple products for new packaging technologies such as CPO and NPO in line with customer demand, and maintaining relatively strong R&D investment in EML and CW products. The civil engineering, some cleanrooms, and supporting facilities of the second phase of its optoelectronic communications semiconductor chip and device R&D and production base have been completed, the first batch of production equipment is expected to enter the plant soon, and the project is expected to begin forming capacity between the end of 2026 and early 2027.

Lianxun Instruments said that downstream customer demand is strong and its order reserves on hand are relatively sufficient. Core test instruments such as sampling oscilloscopes, bit error rate analyzers, and clock recovery units for 800G and 1.6T high-speed optical module testing are the company's main products to be delivered in 2026. The company expects net profit attributable to shareholders of the parent company in the first three quarters of 2026 to be 1.9 billion yuan to 2.1 billion yuan, up 1,866.00% to 2,072.95% year on year.

For next-generation speeds, Lianxun Instruments' new-generation sampling oscilloscopes and supporting clock recovery units can meet 2.4T and 3.2T eye diagram testing needs. The relevant self-developed sample-and-hold chips have been successfully taped out and are planned to be sent to leading industry users for sample validation.

Commercialization of innovative drug products advances steadily

The vitality of technological innovation is also reflected in the biopharmaceutical and high-end medical device fields.

RemeGen said that commercialization of its core products is advancing steadily and overall operating quality continues to improve. Internationally, the company has promoted the completion of global licensing for four core drugs—telitacicept, disitamab vedotin, RC28, and RC148—with cumulative total transaction value exceeding US$12.6 billion. The company said it will continue to focus on core therapeutic areas such as autoimmune diseases and oncology, and advance clinical research, commercialization, and global cooperation.

APT Medical is optimistic about the long-term demand for minimally invasive interventional medical devices. The company said that its current production and operating conditions are good, product market coverage has further improved, and R&D capabilities have continued to strengthen. In the first half of 2026, the company's operating revenue and net profit attributable to shareholders of the parent company grew 25.75% and 26.38% year on year, respectively; in the first three quarters, the growth rates of operating revenue and net profit increased compared with the first half.

Looking ahead, in the domestic market, APT Medical will continue to increase the coverage rate and hospital penetration rate of vascular intervention products, and accelerate the market access of pulsed ablation consumables in the electrophysiology field; in the international market, it will accelerate the international layout of its three-dimensional electrophysiology system, pulsed field ablation solutions, and peripheral products.

(Source: Securities Times) Middle of the main text Embedded advertisement