On September 7, MONTAGE TECH rose 4.59% in regular trading, trading at HK$274.6/share, with turnover of HK$150 million. The stock gained alongside a broader rally in storage-related names, with leveraged SK Hynix and Samsung products surging over 12% and 8% respectively.

On the news front, MONTAGE TECH recently disclosed that it began trial production of its CXL 3.2 MXC chip in July, supporting data rates of up to 64GT/s for CXL and 8000MT/s for DDR. The chip has been successfully adopted by Samsung and SK Hynix for their next-generation CXL products, with major memory manufacturers reportedly shifting from in-house development to third-party MXC chip procurement. The company expects commercial-scale CXL deployment to begin next year. Additionally, MONTAGE TECH was included in the FTSE China 50 Index, while Citi reaffirmed its Buy rating and raised its target price from HK$305 to HK$425, citing the company as one of the best AI infrastructure plays in China's semiconductor space.

On fundamentals, H1 revenue reached RMB 3.335 billion, up 26.7% year-over-year, with net profit of RMB 1.997 billion, up 72.3%. Gross margin improved to 65.3%, up 4.9 percentage points, driven by sustained AI demand for interconnect chips, which contributed approximately 93.3% of total revenue.

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