Overseas memory stocks rally broadly, while ChangXin Memory weakens; CXMT has pulled back 15% from its debut day.

BlockBeats news, October 19 - Overseas storage stocks collectively rebounded, while Changxin Technology weakened against the trend. According to TradingBeats monitoring, on Hyperliquid, SKHX rose about 5.87% from midnight today, Micron MU rose about 4.49%, and SanDisk SNDK rose about 6.51%.

Market data shows that Changxin Technology A-shares are currently at 41.59 yuan, down about 7.62% from last Friday's close. In addition, the CXMT contract experienced a brief spike yesterday, hitting a low of about $6, then recovered somewhat, but weakened again today. The on-chain CXMT contract is currently at $6.2463, down about 2.04% from midnight today and down about 5.65% from the intraday high of $6.62. The trading volume during the same period was about $12.41 million, with open interest notional value of about $30.26 million.

This price is only about 4.17% higher than the $6 launch price when the contract first listed on Hyperliquid on July 15, and about 4.80% above the historical lowest trading price of $5.964 recorded on July 27. It is reported that Changxin Technology is currently down about 15.14% from the A-share listing debut closing price of 49 yuan.

On the news front, this decline occurred after the company disclosed positive earnings guidance 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, with net profit attributable to shareholders of 131 billion to 132.5 billion yuan, turning profitable year-over-year. In addition, Chairman Zhu Yiming also proposed a share buyback of 1 billion to 2 billion yuan.

While profitability improved significantly in the first three quarters, single-quarter growth momentum slowed markedly. Breaking down the forecast data, third-quarter net profit attributable to shareholders is expected to grow only about 1.04% to 3.88% from the second quarter's 52.843 billion yuan, far below the second quarter's quarter-over-quarter growth of about 113.4%. Third-quarter revenue quarter-over-quarter growth is also expected to drop from about 95.9% in the second quarter to 15.25% to 20.3%.

CXMT's largest long position (0x9a8) still holds a $8.86 million position, currently with an unrealized loss of about $483,000, at an average price of $6.61605 and a liquidation price of $3.4415. However, it has recorded funding fee income of about $2.7753 million during the same period.