Ruijie Networks inventory tops 9 billion yuan on strategic chip stockpiling

A 207% inventory build in nine months is a balance-sheet signal, not just an operations note: Ruijie is converting working capital into chip inventory ahead of supply risk it evidently sees as material. The read-across is to networking and hardware peers exposed to the same component chain, where similar precautionary stocking could tighten availability for smaller buyers. The open question is whether this is a one-off buffer or a recurring pattern — watch whether the stockpile converts into revenue on a normal cycle, or whether further builds and write-down risk follow.