---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43100987.md"
description: "$CXMT(688825.SH) and $SK Hynix(SKHY.US), one of their valuation models must be wrong, or they represent two extremes, eventually converging towards some middle ground 🤔"
datetime: "2026-07-31T01:34:08.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43100987.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43100987.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43100987.md)
author: "[京城Z先生](https://longbridge.com/en/profiles/9198235.md)"
---

# $CXMT(688825.SH) and $SK Hynix(SKHY.US), one of th…


### Related Stocks

- [688825.CN](https://longbridge.com/en/quote/688825.CN.md)
- [SKHY.US](https://longbridge.com/en/quote/SKHY.US.md)
- [SKHYV.US](https://longbridge.com/en/quote/SKHYV.US.md)

## Comments (38)

- **爱自己是最好的开始 · 2026-07-31T09:18:19.000Z**: I just want to ask about the data. If Changxin starts to catch up in the decline, will it affect the optical module sector? Will it impact the ChiNext board, or only the STAR Market?
  - **京城Z先生** (2026-07-31T09:20:57.000Z): will affect all technology sectors in China
- **max• · 2026-07-31T04:08:12.000Z · 👍 2**: Longxin is severely overvalued, with outdated technology and valuations soaring in the low-end market segment 😅
- **JohnnyFoo · 2026-07-31T03:41:02.000Z**: ChangXin is definitely wrong. They say Korean retail investors are crazy, but A-share retail investors are even crazier.
  - **京城Z先生** (2026-07-31T03:48:05.000Z): Leverage is still more intense in Korea; China has already gone through it once in Q1.
- **慢慢变富• · 2026-07-31T03:30:42.000Z**: The main reason is that there are few companies in the A-share market with genuine technological content, making rare goods more valuable.
- **GLORY · 2026-07-31T03:25:11.000Z**: Domestic pigs and wild boars are not the same breed 🤣
- **阿米巴星人 · 2026-07-31T03:04:43.000Z · 👍 1**: Just like the previous new energy wave, extending the earnings outlook to 50 years later
- **輸棟樓的韭菜 · 2026-07-31T03:01:22.000Z · 👍 3**: ChangXin's valuation should already factor in the assumption that it will completely devour the existing market share of SK Hynix and Micron in DRAM and NAND, plus the certainty of its successful entry into HBM. It is applying a valuation outlook for a top-three or even top-two player based on its c
  - **争取保住本金** (2026-07-31T03:06:21.000Z): Hahahaha 😄
  - **京城Z先生** (2026-07-31T03:12:04.000Z): Haha, just kidding. I think ChangXin is valued as a growth stock, while Hynix is still valued as a cyclical stock that crashes once every three to four years. However, under the influence of long-term
  - **輸棟樓的韭菜** (2026-07-31T03:18:39.000Z): Saying it crashes once every three or four years is an exaggeration 😂, but Hynix's current valuation indeed hasn't shaken off its cyclical nature; it remains a cyclical company with a PE ratio at the
- **zeta · 2026-07-31T02:40:03.000Z**: The onshore RMB is not worth much; a high valuation is normal.
- **小小睿睿 · 2026-07-31T02:15:33.000Z**: Different countries cannot be conflated
- **mayday · 2026-07-31T01:59:56.000Z · 👍 1**: Can the US stock valuation table be updated with SKHY next?
  - **京城Z先生** (2026-07-31T02:27:20.000Z): I don't know how to value it. For example, if the final negotiation result is that half of the profits must stay in the US, how should this be calculated? 😂
  - **mayday** (2026-07-31T02:53:46.000Z): Hahaha
- **hdz · 2026-07-31T01:57:40.000Z**: Does the STAR Market really have a valuation model? Everything looks terrifying.
  - **京城Z先生** (2026-07-31T02:27:51.000Z): The head has real substance.
- **深海泰坦 · 2026-07-31T01:55:44.000Z**: National strategy, plus publicity and funding, will it still need to protect AI in the long run?
- **期权菜鸟 · 2026-07-31T01:48:40.000Z**: The most important thing is that something only truly belongs to you if you possess it yourself.
- **mayday · 2026-07-31T01:45:11.000Z**: Let's see if A's trading volume can reach 3 trillion today
- **金坛张学友 · 2026-07-31T01:42:31.000Z · 👍 5**: Socialism with Chinese characteristics cannot be conflated.
- **Frank · 2026-07-31T01:41:48.000Z · 👍 2**: ChangXin should have some scarcity factors in the Chinese market.Unless the Chinese market launches a wave of 4 trillion in AI infrastructure, it will eventually have to return. Bloomberg spread rumors months ago that the ZF was leading an AI infrastructure push, which has already been debunked 😂😂
- **SSerpens · 2026-07-31T01:41:26.000Z · 👍 4**: Foreign markets bury good companies, domestic markets create them, hehe
- **柚子梦 · 2026-07-31T01:41:05.000Z · 👍 1**: Where is the valuation model for A-shares... comparing like this
- **价值滑头 · 2026-07-31T01:41:02.000Z · 👍 10**: Oranges grown in the south and north of the Huai River are different; people are the same, and so are stocks.
- **Lynn12345 · 2026-07-31T01:37:39.000Z**: Their valuation models are different.