Chinese semiconductor companies continued to rally on strong demand, YMTC progress in 232-layer chip

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

Shares of Chinese semiconductor companies rallied on Thursday for the second consecutive trading day. An index tracking mainland-listed chipmakers compiled by Wind Information gained 1.14%, making it one of the best-performing sectors in the A-share market. In Hong Kong, Shanghai Fudan surged by more than 7%, Solomon Systems jumping 5.7%, Hua Hong Semiconductor up 5.6%, SMIC up 3.6%.

Guohai Securities said in a note that high-end chips including those for new energy vehicles, solar power equipment, wind power equipments are still in shortage, and in the first quarter of the year, sales of global semiconductor equipments rose 4.75% from a year earlier, while semiconductor equipment sales in mainland China surged 27%, indicating robust demand in mainland China.

Chinese chipmaker Yangtze Memory Technologies Co Ltd (YMTC) announced new memory chip technology that would help it catch up with rivals Micron and SK Hynix. The company unveiled its fourth-generation 3D NAND chip, the X3-9070, and its first to feature 232 layers of memory cells, the state-backed media outlet Global Times reported.

That places it close to rival Micron, which last month said it aimed to start mass production of its 232 layer chip by the end of the year. South Korea’s SK Hynix has also developed its first 238-layer memory chip, boasting a new industry benchmark.