ChangXin Technology Posts 132.04B Yuan Net Profit for First Three Quarters of 2026

The scale of the swing—from a year-earlier loss to a 132.04 billion yuan profit—matters less than the revenue trajectory behind it: third-quarter revenue alone of 118.71 billion yuan implies the ramp is still accelerating rather than plateauing. The proposed buyback of 1 billion to 2 billion yuan is small relative to earnings, suggesting balance-sheet confidence rather than a support mechanism. For a memory-cycle name, the open question is whether this margin profile holds as capacity additions industry-wide come online.