Shannon Semi(SZ:300475) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-21 10:53Core Viewpoint - Despite the planned significant share reduction by a major shareholder, the stock price of Xiangnong Xinchuan (300475.SZ) reached a new high, indicating strong market confidence and resilience in the semiconductor distribution sector [1][3]. Group 1: Stock Performance - On October 21, Xiangnong Xinchuan's stock price hit a peak of 109.57 CNY per share, closing at 104.9 CNY, marking a 9.03% increase and a market capitalization exceeding 48 billion CNY [1]. - The company has set a record high for its stock price 13 times this year, with a cumulative increase of 268.89% year-to-date [1]. Group 2: Shareholder Actions - A shareholder, Wuxi New Momentum Fund, holding 5.13% of the shares, plans to reduce its holdings by up to 4.6377 million shares, representing 1% of the total share capital, due to funding needs [3]. - The estimated cash amount from this reduction could reach approximately 446 million CNY based on the closing price on October 20 [3]. Group 3: Market Conditions - The semiconductor market, particularly the storage segment, is experiencing a significant uptrend, with global storage chip prices rising continuously since the beginning of the year [3]. - The CFM flash memory market forecasts a price increase of over 10% for enterprise SSDs and 10%-15% for DDR5 RDIMM in the fourth quarter [3]. Group 4: Company Overview - Xiangnong Xinchuan, established in 1998 and rebranded in 2021, has become a leading semiconductor distributor, securing agency rights with major global suppliers like SK Hynix and MTK [4]. - Despite a substantial revenue increase of 119.35% year-on-year to 17.123 billion CNY in the first half of 2025, the net profit only slightly rose by 0.95% to 158 million CNY, indicating a "revenue growth without profit increase" situation [4]. - The company is focusing on its self-owned storage brand "Haipu Storage," which is expected to perform better in the current market conditions [4].