GigaDevice(SH:603986) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-05 00:44Core Viewpoint - The demand for AI is driving a surge in storage chip prices, leading to increased interest in Chinese storage chip companies in the secondary market, particularly in the case of Zhaoyi Innovation, which has seen its stock price rise over 115% in the past year and reached a market capitalization of 143.09 billion yuan by December 31, 2025 [1][3]. Company Overview - Zhaoyi Innovation is recognized as a leading domestic storage chip company, excelling in the global NOR Flash, SLC NAND Flash, niche DRAM, and microcontroller (MCU) markets, and is the world's top fabless Flash supplier [3][4]. - Founded by Zhu Yiming in April 2005, Zhaoyi Innovation went public on August 18, 2016, with an IPO price of 23.26 yuan per share, raising approximately 582 million yuan [4][6]. Market Position and Strategy - Zhaoyi Innovation has established itself as a key player in the semiconductor sector, filling market gaps left by major competitors like Samsung and Spansion during industry downturns [8][10]. - The company has successfully transitioned from a focus on NOR Flash to include a robust MCU product line, which has become a significant profit contributor [10][11]. Leadership and Vision - Zhu Yiming's journey began with a vision to establish a strong presence in the storage chip market, which he perceived as critical for the semiconductor industry [6][7]. - His strategic decisions, including the establishment of Changxin Technology for DRAM production, reflect a commitment to advancing China's semiconductor capabilities [12][14]. Recent Developments - By the end of 2025, Changxin Technology announced the launch of DDR5 products, achieving significant market penetration and establishing itself as a notable player in the global storage market [15][16]. - Zhaoyi Innovation's collaboration with Changxin Technology aims to create a comprehensive storage ecosystem, enhancing its competitive edge in the semiconductor industry [16].