Changes in Hong Kong stocks | Storage concept stocks are at the top of the decline. Technology (06809) fell more than 7%, and GigaYi Innovation (03986) fell more than 5%

The Zhitong Finance App learned that the storage concept had the highest decline. As of press release, Lanqi Technology (06809) fell 7.76% to HK$306.8; GigaYi Innovation (03986) fell 5.28% to HK$538.

According to news, on July 27, Changxin Technology officially landed on the Science and Technology Innovation Board. As of today's afternoon trading, the stock had a half-day turnover of 122.03 billion yuan, ranking first among A-shares, making it the first A-share individual stock with a turnover exceeding 100 billion yuan in a single day. According to Omdia data, Changxin Technology already ranks first in China and fourth in the world according to shipment volume and sales statistics, and is rapidly entering the mainstream global manufacturer camp. Changxin Technology's successful listing means that there is finally an authentic storage player in the Chinese market. However, there are also voices in the market that worry that the short-term listing of Changxin Technology will have a siphon effect on the liquidity of the AI circuit.

Cathay Pacific Haitong Securities believes that the storage industry has transformed from a beneficiary of AI computing power investment to a key bottleneck limiting AI infrastructure. Structural shortages driven by AI demand run through the entire industry chain, and the gap between supply and demand is still deepening. On the price side, the slowdown in the 26Q3 contract price increase is not a sign that the cycle is peaking. The bank expects the price increase trend to continue until 2027; long-term agreements do not limit the room for price increases, but rather make the price trend more predictable, exchanging short-term price flexibility for long-term profit and cash flow visibility.