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.
