Changes in Hong Kong stocks | Mega Easy Innovation (03986) fell by more than 12% in early trading, Changxin's listing may trigger capital switching, Damo warns that the price of A memory is about to peak

The Zhitong Finance App learned that Mega Easy Innovation (03986) fell by more than 12% in early trading. As of press release, it was down 11.61% to HK$482.6, with a turnover of HK$839 million.

According to the news, Changxin Technology was officially listed on Monday. The market capitalization soared 465% on the first day of listing, and the market capitalization topped the A-share market, creating a stark contrast. The market generally directly linked the decline of Zhaoyi Innovation to the listing of Changxin Technology. Changxin Technology's high-profile debut triggered a shift in capital from Zhaoyi Innovation to Changxin Technology to a certain extent. According to reports, the founder of both companies is Zhu Yiming.

Notably, according to Morgan Stanley's latest report, the AI-driven semiconductor storage industry carnival is nearing an inflection point, and memory contract prices are expected to peak in the fourth quarter. The market's profit increase rate for storage manufacturers has slipped from a peak of 92% to 77%, and the valuations of SK Hynix and Samsung have both retracted. However, the cycle will “lengthen” rather than “collapse” — HBM's hard supply constraints and AI capital expenditure are still key supports, and the fate of commodity DRAM and high-end storage is rapidly diverging.