9 January 2026 | 6:32PM HKT Equity Research Anji Micro (688019.SS) Accelerated advanced nodes expansion to support CMP Slurry growth; Rising demand from AI memory; Buy 688019.SS 12m Price Target: Rmb331.00 Price: Rmb263.66 Upside: 25.5% We are constructive on Anji Micro as CMP slurry local leader, riding on accelerated advanced node (memory, advanced logic) capacity expansion and Gen-AI trend to drive memory demand. We expect to see rising capex spending from local memory suppliers to expand new capacity, a ...

6 January 2026 | 9:59PM HKT Equity Research Anji Micro (688019.SS) Upgrading to Buy; CMP Slurry and Wet chemical riding on advanced node expansion 688019.SS 12m Price Target: Rmb290.00 Price: Rmb234.22 Upside: 23.8% We are turning positive on Anji Micro as it is one of the key beneficiaries of advanced node expansion in China market, driven by (1) CMP slurry: rising contribution from advanced solution, with Gen-AI expecting to drive growing client demand and higher dollar content on more layers and complex ...

25 September 2025 | 12:59PM HKT Equity Research Anji Micro (688019.SS): CMP Slurry shipment ramp up on new applications and advanced solution; Neutral Anji Micro is expanding CMP slurry and wet chemical products towards advanced nodes, through collaboration with clients to enhance technology and provide customized solution. The company serves leading memory and logic to clients in the China market, with revenues from its top five clients accounting for 75%/ 71% of total revenues in 2024/1H25. With new produ ...