China Changxin Memory IPO: Will It Impact SK Hynix and Samsung Electronics? | Kim Kyung-hwan, Team Leader, Hana Securities Research Center

China Changxin Memory Listing: Will it be a variable for SK Hynix and Samsung Electronics? | Kim Kyung-hwan, Hana Securities Research Center Team Leader [Double Up]
Watch on YouTube ↗  |  July 15, 2026 at 01:53  |  26:23  |  3PRO TV (삼프로TV)
Speakers
Kim Kyung-hwan — Team Leader

Summary

Hana Securities team leader Kim Kyung-hwan analyzes the CXMT IPO, concluding it is not an immediate threat to Korean memory makers. He recommends buying the ChiNext Index to capture China's export strength across multiple new-economy sectors and watching the STAR 50 Index for semiconductor momentum. He also notes China's household savings are starting to move into equities, fueling tech bubbles, while old-economy sectors languish.

  • CXMT IPO price and market reaction suggest Chinese greed but no near-term supply flood for memory.
  • Korean memory gap remains intact; SK hynix and Samsung are not at immediate risk.
  • China's capex peak in semiconductor equipment is expected next year, lagging the US by two years.
  • ChiNext Index (Shenzhen) is recommended for diversified exposure to China's export and capital-goods strength.
  • STAR 50 Index (Shanghai) is a concentrated play on China's semiconductor self-sufficiency and upcoming IPOs.
  • Chinese household money is migrating into stocks for the first time, with risk of tech bubbles in favored sectors.
  • Korean China-related cyclical stocks offer only limited alpha opportunities.
Ideas
Kim Kyung-hwan Team Leader 5:10
CXMT IPO not a near-term threat
The CXMT IPO and the subsequent local capex cycle do not pose a near-term fatal threat to Korean memory makers. The technology gap with Samsung and SK hynix remains, CXMT cannot yet meet its own demand, and the capacity additions will only start to materialize from 2026-2027. Investors should not treat this as a critical risk; it is a manageable development to monitor.
000660.KS 005930.KS MED
Kim Kyung-hwan Team Leader 18:11
Watch STAR 50 Index for semiconductor trends
The STAR 50 Index (Kechuang 50) is the destination for China’s key semiconductor IPOs (CXMT, likely YMTC later) and is attracting strong capital flows amid China’s chip self-sufficiency drive. It is worth watching closely as a concentrated play on China’s semiconductor ambitions and potential tech bubble formation.
STAR 50 Index MED
Kim Kyung-hwan Team Leader 20:01
Buy ChiNext Index for China equity exposure
The ChiNext Index best reflects China’s real economic strength in exports, capital goods, and diverse high-ROE sectors such as energy, non-ferrous metals, biotech, and robotics. Valuations are still reasonable despite recent gains (30% below the 2021 high). Household money is migrating into stocks, and the index is the purest way to capture China’s new-economy competitiveness. He personally would buy the ChiNext Index.
CNXT HIGH
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This 3PRO TV (삼프로TV) video, published July 15, 2026, features Kim Kyung-hwan discussing 000660.KS, 005930.KS, STAR 50 Index, CNXT. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kim Kyung-hwan  · Tickers: 000660.KS, 005930.KS, STAR 50 Index, CNXT