Puya Semiconductor disclosed its 2026 interim report on August 18, reporting first-half revenue of 3.959 billion yuan and net profit attributable to shareholders of 827 million yuan, up 336.67% and 1,929.65% year-on-year, respectively. Net profit excluding non-recurring items reached 825 million yuan, up 2,994.08%, and basic earnings per share was 5.58 yuan, indicating that the earnings surge was driven primarily by core operations rather than one-off items. Second-quarter net profit rose to 576 million yuan from 251 million yuan in the first quarter, a sequential increase of 129%, showing accelerating profitability through the reporting period. The result was slightly ahead of the company’s earlier interim guidance for about 825 million yuan in first-half net profit, which had implied 1,925.36% year-on-year growth. Puya attributed the sharp improvement to a recovery in memory pricing as AI computing infrastructure buildout tightened market supply-demand dynamics, alongside continued progress in its "Memory+" strategy, under which MCU and driver chip products expanded in industrial control and AIoT applications and helped improve product mix. A major additional driver came from the consolidation of Skyhigh Memory Limited after Puya acquired a 51% stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. in November 2025. SHM contributed about 2.346 billion yuan of first-half revenue, nearly 60% of the total, and its focus on high-performance 2D NAND for mid-to-high-end applications supported stronger pricing and gross margin. As of the August 18 close, Puya shares were at 466.81 yuan, giving the company a market capitalization of about 69.4 billion yuan, with the stock up 267% year-to-date amid a broader AI-led memory chip upcycle.