20 Oct 2026 18:00:35 ET │ 43 pages E s s e n t i a l s | Longsys (301308.SZ / 9976.HK) Structural Beneficiary of AI Memory Demand; Initiating At Buy/HR CITI'S TAKE We initiate coverage of Longsys with Buy/High Risk ratings on both the A- shares (TP: Rmb325, 9.5x 2027E P/E) and H-shares (TP: HK$195, 5x 2027E P/E at ~45% A-to-H discount). We view Longsys as a structural beneficiary of AI-driven memory demand growth, transitioning from a cyclical, consumer-oriented module vendor to an enterprise/AI-driven grow ...

October 12, 2026 03:39 PM GMT Greater China Semiconductors – DRAM | Asia Pacific Nanya 3Q beat; CXMT updates DRAM supply constraints continue. Contract renewals drove Nanya's 3Q beat. CXMT's G5 milestone strengthens its tech roadmap, but yield ramp and customer qualification take time. Nanya 3Q beat; LTAs in spotlight: Nanya reported 3Q revenue of NT$134bn, +62% Q/Q, +612% Y/Y, 8% above consensus. 3Q gross profit was NT$114bn, +114% Q/Q, 12% above consensus, implying a GM of 85.7%. 3Q net profit was NT$88bn ...