Core Viewpoint - The announcement from Zhaoyi Innovation (603986) regarding the expected daily related transactions for 2026 indicates a significant increase in procurement of DRAM-related products from Changxin Technology Group, with an estimated transaction amount of $825 million, equivalent to approximately 5.711 billion RMB, pending shareholder approval [1][4]. Group 1 - The expected transaction amount for 2026 is a substantial increase compared to the actual transaction of 1.182 billion RMB in 2025, driven by increased business demand from niche new products and solutions, along with rising wafer foundry costs due to the uptrend in the niche DRAM market prices [4]. - As of March 30, 2026, Zhaoyi Innovation has already engaged in related transactions amounting to 581 million RMB with Changxin Group this year [4]. - The transaction was approved unanimously by non-related directors, with independent directors also recognizing the fairness of the transaction, while related director Zhu Yiming abstained from voting due to his position as chairman of Changxin Technology Group [4]. Group 2 - Changxin Group's latest operational data shows a revenue of 24.178 billion RMB for 2024, with a net loss attributable to shareholders of 7.145 billion RMB; for the first half of 2025, revenue was 15.438 billion RMB with a net loss of 2.332 billion RMB, indicating a stable operational and financial condition [5]. - Zhaoyi Innovation emphasizes that Changxin Group is a rare domestic DRAM IDM enterprise and an important foundry partner for its niche DRAM business, with the transaction being based on normal commercial practices and market fair pricing [4].