Overseas memory stocks rally broadly, while ChangXin Memory weakens—CXMT has declined 15% from its first-day listing price.

On October 19, overseas memory-related stocks generally rebounded, while ChangXin Technology moved in the opposite direction. TradingBeats monitoring data shows that as of midnight today, SKHX on the Hyperliquid platform rose about 5.87%, Micron MU rose about 4.49%, and SanDisk SNDK rose about 6.51%. In the market, ChangXin Technology's A-shares were last quoted at 41.59 yuan, down about 7.62% from last Friday's closing price. Meanwhile, the CXMT contract experienced a wick during yesterday's session, touching a low of about $6 before rebounding somewhat, but it weakened again today. On-chain data shows that the CXMT contract was last quoted at $6.2463, down about 2.04% from midnight today and about 5.65% from the intraday high of $6.62; during the same period, turnover was about $12.41 million, and open interest notional value was about $30.26 million. Compared with $6 when the contract first launched on Hyperliquid on July 15, the current price is only about 4.17% higher; it is about 4.80% higher than the all-time low trading price of $5.964 set on July 27. It is understood that ChangXin Technology's current price is down about 15.14% from the closing price of 49 yuan on its first day of A-share listing. On the news front, this decline occurred after the company released a positive earnings forecast and a buyback proposal. ChangXin Technology announced on the evening of October 16 that it expects revenue of 265 billion to 270 billion yuan for the first three quarters and net profit attributable to shareholders of 131 billion to 132.5 billion yuan, turning a year-on-year loss into a profit; Chairman Zhu Yiming also proposed a share buyback of 1 billion to 2 billion yuan. Although profit for the first three quarters improved significantly, single-quarter growth momentum weakened markedly. Based on a breakdown of the forecast data, third-quarter net profit attributable to shareholders is expected to grow only about 1.04% to 3.88% from 52.843 billion yuan in the second quarter, far below the roughly 113.4% quarter-on-quarter increase in the second quarter; third-quarter revenue is also expected to slow to 15.25% to 20.3% quarter-on-quarter from about 95.9% in the second quarter. CXMT's largest long position (0x9a8) still holds a $8.86 million position, with an average price of $6.61605 and a liquidation price of $3.4415. It is currently sitting on an unrealized loss of about $483,000, but has recorded funding fee income of about $2.7753 million during the same period.