[Zhongtai Electronics] CXMT Listing Imminent, Firmly Bullish on Capacity Expansion as Greatest Common Denominator!

English summary

# CXMT listing imminent, expected to strongly drive domestic chain!# Capacity expansion will become the greatest common denominator. ①When market worries about price increases hurting demand, capacity expansion becomes necessary option to meet increasingly tight supply-demand contradiction. ②Current domestic DRAM/NAND etc. account for about 10%-15% globally, China demand about 1/3 of global, self-sufficiency demand still far insufficient, mainland expected to expand faster than overseas. ③CXMT H1 revenue 110-120 billion yuan, net profit 66-75 billion yuan, this listing expected to raise 29.5 billion yuan, extremely ample funds, expected to accelerate production progress. Capacity expansion emphasizes upstream 'shovel' stocks. #Equipment segment as the largest 'shovel' for Fab expansion, expected to deeply benefit. Focus on equipment leader, NAURA; also watch targets with large memory exposure + core equipment volume: Piotech, AMEC, Kingsemi, Leadmicro, Zhizhida, Hwatsing, Skyverse, Skyverse Precision, Jingyi Equipment, etc. ...