With the current DDR4 market supply exceeding demand and prices skyrocketing, memory manufacturer Nanya announced its self-financed revenue in October. Its revenue amounted to NT$7.908 billion, an increase of 18.66% from September and a 262.37% incr...
With the current DDR4 market supply exceeding demand and prices skyrocketing, memory manufacturer Nanya announced its self-financed revenue in October. Its revenue amounted to NT$7.908 billion, an increase of 18.66% from September and a 262.37% increase from the same period in 2024, a new high in 50 months. Cumulatively, revenue in the first ten months of 2025 reached 44.401 billion yuan, an increase of 49.3% compared with the same period in 2024, and also set a new high in the past three years.
At the last legal meeting, Li Peiying, general manager of Nanya, said that the DRAM market will show polarized development in 2024, with AI-related products in good condition and non-AI-related products continuing to decline. DRAM suppliers have made internal structural adjustments and shifted their DDR4 and LPDDR4 production capacity to the production of HBM, DDR5 and LPDDR5, etc., causing the supply of DDR4 and LPDDR4 to be less than the demand, driving the market to rise. Therefore, it can be confirmed that the price in the fourth quarter is expected to be better than that in the third quarter. As for how long it can continue to grow, there is currently no way to confirm.
Looking forward to the future, Li Peiying said that the outlook is quite positive. It is expected that gross profit margin and profitability will continue to improve. As for whether there is a chance to turn losses into profits, he will continue to work hard. In addition, Li Peiying believes that 2026 will be a very good year, and the DRAM price trend has a good chance of stabilizing. As for the related price increases, each product line is different. Some prices will be reasonable for suppliers by 2026. If they are not enough, they may rise again. If the prices in 2026 are maintained at the first quarter, they will already be quite good.
Although Nanya itself is optimistic about the future prosperity of memory, there are still noises from foreign investors. UBS's latest research report pointed out that Nanya's stock price has soared 382% since 2025, and has risen 65% in the past four weeks alone. Therefore, after the recent strong performance, Nanya Technology's stock price has fully digested the upside of the DRAM industry's upward cycle, and has lowered its investment rating from "buy" to "neutral". However, Nanya still raised its target price significantly from NT$110 per share to NT$140.
