The storage chip sector continued its strong performance, with the leading computational power leasing company releasing concentrated Q1 earnings. The semiconductor equipment ETF (GF) with over 80% in semiconductor equipment and materials rose nearly 4% at one point during the session.

In the morning session on April 14, 2026, the storage chip sector in China's A-share market maintained its strong momentum. Xiechuang Data hit a 20cm涨停, Dawei Shares and Baiwei Storage rose more than 7%, both setting new all-time highs, while Shannon Core Creation, Puyan Shares, and Longsys Technology followed with gains.

On the evening of April 13, Xiechuang Data disclosed its earnings forecast, estimating consolidated net profit attributable to shareholders for the first quarter of 2026 to be between 650 million yuan and 850 million yuan, representing a year-on-year increase of 284.14% to 402.33%. During the reporting period, the company’s intelligent computing power products and services business experienced substantial growth.

On the news front, Samsung Electronics has completed DRAM price negotiations with major customers for the second quarter and signed supply contracts, with prices rising approximately 30% compared to the first quarter. This price hike covers high-bandwidth memory (HBM) as well as general DRAM products for servers, PCs, and mobile devices. Previously, Samsung had already increased average DRAM prices by about 100% in the first quarter.

Wanlian Securities pointed out that driven by the demand for computing infrastructure and AI cloud services, there is a strong growth in demand for DRAM and HBM from AI servers. The supply of DRAM from original manufacturers is tightening, prompting them to more actively push for contract price increases and expedite the pace of price transmission.

Additionally, global semiconductor equipment sales are projected to reach USD 135.1 billion in 2025, increasing by 15% year-over-year, marking a third consecutive year of record highs. Equipment spending in mainland China will reach USD 49.3 billion, with only a slight 0.5% year-over-year decrease but still at historical highs, reflecting continued investment by domestic chipmakers in mature nodes and selective expansion into advanced capacity. Equipment expenditure in Taiwan surged 90% year-over-year to USD 31.5 billion, reaching an all-time high, highlighting the intensity of capacity expansion driven by AI and high-performance computing. SEMI forecasts that global spending on 300mm wafer fab equipment will grow by 18% to USD 133 billion in 2026.

In terms of industry dynamics, domestic semiconductor equipment manufacturers unveiled multiple new-generation devices targeting advanced processes and 3D ICs at SEMICON CHINA 2026. NAURA Technology launched its 12-inch NMC612H ICP etching equipment and high aspect ratio TSV plating equipment, while AMEC introduced the Primo Angnova plasma etching device and Micro LED mass production MOCVD equipment. This signifies that domestic equipment manufacturers are continuously broadening their process coverage and accelerating breakthroughs in advanced processes, compounded by the ongoing expansion of domestic wafer fabs, which is expected to further accelerate the localization process.

Some market analysis suggests that the industry is currently at the intersection of three key trends: 'a global upturn in equipment sales, accelerated domestic production line expansion, and a leap in localization rates from one to many.' A research report by China Merchants Securities highlights that the core drivers of this upward trend come from unexpected investments in DRAM and HBM, as well as continuous capacity expansion in the Chinese market. The equipment demand for AI infrastructure construction is progressively spreading from advanced logic chips to memory and advanced packaging sectors.

At the same time, surging demand for AI computing power has led to a sharp increase in the industry's localization rate. Dongwu Securities noted that from July to November 2025, investment and financing in the AIGC industry reached RMB 33.67 billion, increasing by 20.8% compared to the first half of the year. With new AI models set to gain momentum in early 2026, computing power demand is expected to surge significantly. The domestic ASIC development process is gradually accelerating, with the market share of domestic AI chips steadily rising; domestic AI infrastructure continues to advance towards self-sufficiency in computing power.

Shenwan Hongyuan pointed out that segments such as etching, PVD, and metrology and inspection equipment benefit from the ongoing localization efforts, with representative companies reporting Q1 revenue growth rates generally reaching 30% or more year-over-year. Huayuan Securities' analysis suggests that the adoption speed of domestic semiconductor equipment is expected to further increase, opening up greater market opportunities for domestic equipment manufacturers.

In the intra-market ETF segment, as of the noon close on April 14, 2026, the CSI Semiconductor Materials and Equipment Theme Index (931743) surged 4.20%, while the Gfund Semiconductor Equipment ETF (560780) rose 3.73%. Component stocks Silian Technology increased by 17.50%, Camade Technology by 12.64%, and Fuchuang Precision by 10.98%, with other individual stocks like Jingyi Equipment and Jinhaitong also following suit. The top ten weighted stocks collectively account for 65.14%, among which the key stock Zhongke Feice increased by 9.72%, with Topjing Technology and Changchuan Technology also rising. Over a longer timeframe, as of April 13, 2026, the Gfund Semiconductor Equipment ETF has cumulatively risen 9.04% over the past week.

GF Securities Semiconductor Equipment ETF (560780): Tightly tracks the CSI Semiconductor Materials and Equipment Theme Index. According to the Shenwan third-level industry classification, the index has a weighting of over 60% in semiconductor equipment and more than 20% in semiconductor materials, with a combined weight exceeding 80%. It includes leading equipment companies such as Zhongwei Corporation, Northern Huacreate, and Tuojing Technology. Off-market linkage is available (A: 020639; C: 020640).

Disclaimer: The above content and data are unrelated to the position of Youlian Cloud and do not constitute investment advice. Any actions taken based on this information are at the investor’s own risk.

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