Demingli Shares Hit Daily Limit Down Despite 5,600% Profit Surge; Q2 Net Income Falls Sequentially

Shares of Chinese memory chip maker Demingli (001309.SZ) hit the daily limit down on July 15, closing at 662.40 yuan per share, with total turnover of 1.756 billion yuan and a peak sell order of 6.7 billion yuan, according to Jiemian News. The stock's market capitalization fell to 150.3 billion yuan. The plunge came a day after the company released its first-half 2026 earnings forecast. Demingli expects H1 2026 revenue of 16 billion to 18 billion yuan, up 289.39% to 338.06% year-on-year, and net profit attributable to shareholders of 5.7 billion to 6.5 billion yuan, a surge of 4,932.74% to 5,611.02% from a loss of 118 million yuan in the same period last year. However, Q2 standalone net profit of 2.354 billion to 3.154 billion yuan represents a sequential decline of 5.74% to 29.65% from Q1's 3.346 billion yuan. The company attributed the strong year-on-year growth to AI-driven storage demand, tight supply, and rising memory prices. Demingli also noted it launched a self-developed PCIe/SATA dual-mode enterprise SSD controller chip and began mass production of multiple QLC-based embedded storage products. The stock has surged over 185% year-to-date and 686% over the past 250 trading days. On the same day, other A-share memory concept stocks also fell sharply, with Biwin Storage (688525.SH) down 15% and several others hitting limit down.