NAURA Technology Group Co Ltd

InnovestX Securities has unveiled its investment strategy for the fourth quarter of 2026, saying investors need to exercise greater caution amid rising interest rates and high oil prices, which are pressuring inflation, bond yields, and foreign fund flows. The firm set a target for Thailand's benchmark stock index in 2027 at 1,715 points and said the 1,550 level is starting to look attractive for accumulation. It named five top picks: AMATA, CENTEL, CRC, KTB, and PR9. Suthichai Kumworachai, Head of Investment Strategy & Research, said the prolonged conflict between the United States and Iran creates a chain of risk running from oil prices to inflation, the direction of interest rates, financing costs, and the baht. Dr. Piyasak Manasant, Head of Economic Research, kept his forecast for Thai economic growth in 2026 and 2027 at 2.0% while raising his average oil price assumptions for 2026 and 2027 to 90 and 80 US dollars per barrel, respectively. Sitthichai Duangrattanachaya, Head of Investment Strategy, said earnings per share for the Thai stock market have been continuously revised upward, particularly from the energy sector. For overseas investment, he recommended stocks that benefit from AI, namely Google, Amazon, Nvidia, Tencent, and Alibaba, while in the semiconductor group he highlighted Lumentum, Naura, SMIC, and Biren. He also advised diversifying into defensive and dividend stocks. Joranapong Rattanasopha, Head of Investment Product Specialist, recommended the M-SCHD fund, which invests through the Schwab U.S. Dividend Equity ETF. SCHD currently has less than 10% exposure to technology stocks, compared with nearly 40% for the S&P 500 index, and the correlation between SCHD and the S&P 500 has fallen to about 0.3, the lowest level since the fund was established in 2011.

China's chipmaking equipment industry is growing rapidly as wafer fabs across the country turn to buying 100% domestically produced machinery after supply chain restrictions imposed by Western nations. Data from Google Trends for August to September 2026 shows surging keywords including China Semiconductor Tooling Localization and Domestic Wafer Fab Equipment, while retail investors continue searching for ASML China Export Restrictions. One clear beneficiary is NAURA Technology Group, or 002371.SZ, whose product lines cover etching equipment, thin-film deposition, and wafer cleaning tools, placing it close to Applied Materials and allowing Chinese fabs to procure nearly an entire equipment suite in a single package, with its order backlog overflowing under the National Semiconductor Self-Reliance policy. Another is Advanced Micro-Fabrication Equipment, or AMEC, or 688012.SS, a specialist in plasma etching whose CCP and ICP etchers can compete with Lam Research and which has repeatedly won patent cases against major multinational giants, allowing it to rapidly expand its share of the Chinese market from the tens of percent range to a market-leading position.

China unveiled its 15th five-year plan for the electronic information manufacturing industry, covering the period from 2026 to 2030, aimed at strengthening domestic capabilities in semiconductors and advanced manufacturing. This sent Chinese chip and electronics stocks higher today (Sept 16) on expectations that the government will increase support for the sector. The plan targets large qualifying companies in the electronic information manufacturing industry to achieve combined revenue of more than 30 trillion yuan, or 4.4 trillion US dollars, by 2030, while aiming for industry research and development investment to rise to 3.5% of revenue. China designated integrated circuits, advanced computing, consumer electronics, basic electronics, and power electronics as priority industries. For semiconductors, the policy covers everything from chip design and manufacturing, advanced packaging and testing, to equipment and materials for semiconductor production, as well as electronic design automation. China wants to drive breakthroughs in high-end processors, memory chips, and analog chips. The move boosted stocks in the sector, with Cambricon Technologies surging 6%, while Shanghai-listed Semiconductor Manufacturing International Corp rose 4.2% and its Hong Kong-listed shares gained 4.4%. NAURA Technology rose 3.8%. Consumer electronics stocks also advanced, with Luxshare Precision up 2.7%, BOE Technology up 2.1%, and Foxconn Industrial Internet up 3.2%, while Goertek also gained. The measures come as China's technology sector draws support from investment in artificial intelligence and advanced manufacturing, with the country's industrial output in August rising 5.2% year on year, while production of industrial robots and lithium-ion batteries expanded strongly. Beijing also wants to strengthen domestic supply chains, as Chinese companies face restrictions on access to advanced semiconductors and manufacturing technology from abroad.

NAURA Technology Group released its 2026 interim report, with total operating revenue of 20.161 billion yuan, up 24.90% year on year, and net profit attributable to the parent of 3.37 billion yuan, up 5.05% year on year. Net cash inflow from operating activities was 3.774 billion yuan, an increase of 6.965 billion yuan year on year. The asset-liability ratio was 50.26%, down 2.23 percentage points from the same period last year. Gross margin was 40.07%, and return on equity was 8.31%. Diluted earnings per share were 4.65 yuan, up 4.47% year on year. Total asset turnover was 0.22 times, and inventory turnover was 0.41 times. The number of shareholders was 82,700, and the top ten shareholders held 63.87% of total share capital.

On the evening of August 25, multiple listed companies on the Shanghai and Shenzhen exchanges issued announcements disclosing half-year reports and major matters. Wanhua Chemical's subsidiary, Hungary's BorsodChem, resumed production at its facilities; CICC received approval to issue corporate bonds of up to 80 billion yuan; Advanced Micro-Fabrication Equipment's advanced thin-film equipment cumulative shipments exceeded 500 reaction chambers. In terms of performance, NAURA Technology Group posted first-half net profit of 3.37 billion yuan, up 5.05 percent year on year; Wus Printed Circuit posted net profit of 2.923 billion yuan, up 73.72 percent; CGN Power posted net profit of 6.105 billion yuan, up 2.66 percent; OKE Precision Cutting Tools posted net profit of 371 million yuan, up 47,734.24 percent; Hangzhou Cable posted net profit of 393 million yuan, up 938.67 percent; Joyson Electronics posted net profit of 739 million yuan, up 4.43 percent; Yunda Holding posted net profit of 998 million yuan, up 88.82 percent; Yahua Group posted net profit of 1.216 billion yuan, up 795.48 percent; Changjiang Securities posted net profit of 3.192 billion yuan, up 83.8 percent; Suzhou Good-Ark Electronics posted net profit of 77.2942 million yuan, up 76.87 percent; Yunnan Chihong Zinc & Germanium posted net profit of 1.59 billion yuan, up 70.58 percent; Jiangxi Copper posted net profit of 8.632 billion yuan, up 106.77 percent; Shanghai Yashi posted net profit of 114 million yuan, up 460.72 percent; Beijing Easpring Material Technology posted net profit of 520 million yuan, up 67.25 percent; 37 Interactive Entertainment posted net profit of 1.766 billion yuan, up 26.14 percent; Dongfang Tower posted net profit of 976 million yuan, up 97.84 percent; Jingxing Paper posted net profit of 139 million yuan, up 152.95 percent; Huaqin Technology posted net profit of 3 billion yuan, up 58.8 percent; Lianyun Technology posted net profit of 520 million yuan, up 825.54 percent; Guosen Securities posted net profit of 5.732 billion yuan, up 6.79 percent; CSSC Offshore & Marine Engineering posted net profit of 837 million yuan, up 58.94 percent; Luwei Optoelectronics posted net profit of 145 million yuan, up 35.82 percent; Lu'an Environmental Energy posted net profit of 1.778 billion yuan, up 31.85 percent; JPT Opto-electronics posted net profit of 195 million yuan, up 105.25 percent; Tongkun Group posted net profit of 4.222 billion yuan, up 285.03 percent; China Merchants Securities posted net profit of 10.624 billion yuan, up 104.87 percent; Sichuan Changhong posted net profit of 1.646 billion yuan, up 228.62 percent; Qinghai Salt Lake Industry posted net profit of 6.169 billion yuan, up 137.88 percent; Dawn Polymer posted net profit of 237 million yuan, up 181.94 percent; Allwinner Technology posted net profit of 490 million yuan, up 204.17 percent; Hanshow Technology posted net profit of 336 million yuan, up 51.22 percent; Dinglong posted net profit of 529 million yuan, up 70.21 percent; SF Diamond posted net profit of 78.1797 million yuan, up 46.9 percent; Robotechnik posted net profit of 6.5568 million yuan, turning from loss to profit year on year; Qianjin Pharmaceutical posted net profit of 181 million yuan, up 41.59 percent; Zhucheng Technology posted net profit of 132 million yuan, up 49.35 percent; Hengfeng Paper posted net profit of 112 million yuan, up 17.95 percent; Kidswant posted net profit of 172 million yuan, up 19.9 percent; Huate Gas posted net profit of 92.8327 million yuan, up 19.16 percent; Zhejiang Longsheng posted net profit of 1.004 billion yuan, up 8.2 percent; Dameng Data posted net profit of 221 million yuan, up 7.99 percent; Innovent Biologics posted first-half total revenue of 8.618 billion yuan, up 44.8 percent. In addition, Annil plans to repurchase shares worth 40 million to 80 million yuan, and Beimo Gaoke plans to repurchase shares worth 120 million to 180 million yuan.

Naura Technology released its 2026 half-year report. First-half operating revenue was 20.161 billion yuan, up 24.9% year on year, and net profit attributable to the parent was 3.37 billion yuan, up 5.1% year on year. Second-quarter operating revenue was 9.84 billion yuan, up 24.0% year on year, and net profit attributable to the parent was 1.74 billion yuan, up 6.6% year on year. The company said that in its semiconductor equipment business, the market share of equipment such as etching and thin-film deposition continued to rise, and it is actively advancing business integration with its controlling subsidiary Kingsemi.

Wus Printed Circuit, Jiangxi Copper and several other companies released their 2026 semi-annual reports. Wus Printed Circuit's first-half net profit rose 73.72% year on year, while Jiangxi Copper's net profit rose 106.77%. Huashengchang's first-half net profit grew 73%, with second-quarter net profit up 223% quarter on quarter. JPT's 2026 semi-annual net profit rose 105.25% year on year. Naura Technology's first-half net profit rose 5.05% year on year. In addition, Zhong Shanshan, the actual controller of Wantai Biological Pharmacy, donated 33 million company shares free of charge to the Fujian Xiang'an Innovation Laboratory Science and Technology Development Foundation, accounting for 2.61% of the company's total share capital.

InnovestX Securities views AI as still a key driver for Chinese tech, as hyperscalers accelerate capital spending to support data centers and AI computing, while foreign chip technology restrictions push China to build a domestic supply chain. The firm expects the share of AI server system production in China to reach more than 90% by 2030, up from about 70% in 2025, and the share of chip production for AI inference to rise to more than 50% from below 10% over the same period. Capital expenditure estimates for Chinese hyperscalers Alibaba, Tencent, ByteDance and Baidu have been revised up by 28%, 74%, 67% and 82% respectively, reflecting an acceleration in expanding AI and data processing capabilities. Mr. Sittichai Duangrattanachaya, Head of Investment Strategy at InnovestX Securities, said at the economic and investment seminar "Final Call 2026" that the next phase of the AI game is not about investing in the trend, but about finding winners in each layer of the ecosystem, from chips to data centers and energy. Investors should shift from buying the AI theme to selecting companies that genuinely benefit from AI. He recommended three groups of Chinese stocks: China Internet and Tech such as Tencent, Alibaba and GDS; China Semiconductor such as SMIC, Hua Hong and NAURA; and China Non-Tech such as CATL, HKEX and AIA.

The Shanghai Composite Index closed higher today at 3,858.25 points, up 44.05 points or 1.15 percent, supported by buying in technology and chip stocks. Leading the gains, Shengyi Technology surged 6.13 percent, Eoptolink Technology rose 3.15 percent, Zhongji Innolight added 2.91 percent, NAURA Technology gained 1.72 percent, and Cambricon Technologies advanced 1.31 percent. The uptick helped offset negative sentiment from China's June industrial profits report, which showed growth of just 15.1 percent year-on-year, slowing from May's 21.1 percent expansion and marking the slowest growth rate since the start of the year. Industrial profits for the first six months rose 18.7 percent year-on-year, edging down slightly from the 18.8 percent increase in the first five months.

On July 24, the semiconductor equipment concept sector in the A-share market bucked the trend and was active. PNC Process Systems hit its daily limit up in a straight line, Torrens surged over 12 percent, and stocks such as Qiangyi, Changchuan Technology, NAURA Technology Group, and Kingsemi moved higher in tandem. A report from SEMI forecasts that global semiconductor equipment sales will increase 23.2 percent year-on-year to 165.9 billion US dollars in 2026, and the market size will reach a record high of 229.5 billion US dollars in 2028, driven by expansion of AI infrastructure and investments in advanced logic chips and high-bandwidth memory. China Galaxy Securities believes that the global semiconductor sector's pullback since July has been mainly due to factors such as capital deleveraging and profit-taking, and risks have now been largely released. It recommends focusing on areas like advanced packaging, wafer foundry, semiconductor equipment, and materials. Industrial Securities points out that the domestic memory industry chain still has enormous room for development and capital expenditure, upstream equipment and material companies are facing development opportunities, and the industry's gross margin is likely to trend upward during the capital expenditure upcycle. Sinolink Securities states that overseas semiconductor equipment delivery times have extended to 12 to 24 months and prices have started to rise. Expansion by leaders such as Samsung, SK Hynix, and Micron is constrained by equipment supply bottlenecks. Domestic semiconductor equipment companies, leveraging technological progress, efficient delivery, and cost advantages, are seeing accelerated opportunities for overseas verification and order landing, and are expected to go global and open up incremental space.

After the recent sharp pullback in China's A-share tech sector, analysts point out that the underlying logic supporting the tech bull market remains intact, and the correction has instead provided more cost-effective positioning opportunities. They recommend focusing on dip-buying chances in optical communications, semiconductor equipment, and commercial aerospace. In optical communications, the computing power race driven by generative AI continues, with the peak shipment cycle for 800G products and the upgrade cycle to 1.6T approaching. Chinese manufacturers hold solid global competitive advantages. Eoptolink Technology expects first-half net profit attributable to shareholders of 7 billion to 8 billion yuan, up 77.56% to 102.93% year-on-year. Suzhou TFC Optical Communication expects first-half net profit attributable to shareholders of 1.124 billion to 1.304 billion yuan, up 25% to 45% year-on-year. Industrial Securities analyst Zhang Lin remains bullish on the sector and suggests paying attention to Zhongji Innolight, Eoptolink Technology, Suzhou TFC Optical Communication, and Sinopower Electronics. The semiconductor equipment industry maintains high prosperity. SEMI forecasts that global total sales of semiconductor manufacturing equipment will reach a record high of 165.9 billion US dollars in 2026, up 23.2% year-on-year. Ping An Securities analyst Yang Zhong recommends Naura Technology, Advanced Micro-Fabrication Equipment, Tuojing Technology, Hwatsing Technology, Skyverse, and Leadmicro. In the commercial aerospace sector, after valuation compression, policies continue to advance, rocket recovery technology matures, and launch costs decline. Zheshang Securities analyst Peng Lei believes China's commercial aerospace is poised to enter a rapid growth phase, with 2026 potentially becoming a dense year for recovery verification. Shanghai Hanxun, China Aerospace Times Electronics, ST Zhenlei, Chengchang Technology, Maxwell Technologies, and Sunway Communication are widely favored.

On July 22, the precious metals sector surged, with Xingye Silver and Tin hitting its second consecutive daily upper limit. Chifeng Gold, Xiaocheng Technology, Zhaojin Gold, and Sichuan Gold also rose. The move came as spot gold broke above $4,120 per ounce and spot silver topped $59 per ounce. On the same day, four companies disclosed pre-announcements of shareholder share reductions. In addition, as of July 21, total market margin financing stood at 2.70 trillion yuan, up 104 million yuan from the previous trading day. Among them, 41 stocks saw net margin buying exceeding 100 million yuan, with Zhongji Innolight topping the list at 2.749 billion yuan. The semiconductor equipment sector remained strong, with Torrens hitting its second consecutive 20 percent upper limit. Zhenbao Technology and NAURA Technology Group also advanced. A report from the global semiconductor industry association projects that global semiconductor equipment sales will grow 23.2 percent to $165.9 billion in 2026. Twelve companies released first-half earnings-related information, with seven reporting expected profit increases and one reporting an expected decline.

Changsheng High-End Equipment Hybrid A disclosed its second-quarter 2026 report, with a second-quarter fund profit of 547 million yuan and a net value growth rate of 60.64%. As of the end of the second quarter, the fund size was 1.353 billion yuan. Fund manager Guo Kun stated that the market diverged significantly in the second quarter, with growth indices such as the STAR 50 and STAR ChiNext 50 performing exceptionally well. The electronics and communications sectors surged 90.92% and 63.84%, respectively. The fund mainly increased holdings in electronics, electrical new energy, and pharmaceuticals. As of July 21, the fund's one-year cumulative net unit value growth rate was 71.86%, ranking 76 out of 809 among comparable funds. At the end of the second quarter, the top ten heavy-weighted stocks included NAURA Technology Group, Three-Circle Group, and Zhongji Innolight.