Analysis of Strong Performance of Xice Testing (301306)

The recent strong performance of Xice Testing (301306) is driven by both

and :

1. Core Driver of Rise
   : Samsung’s CEO announced an “unprecedented” shortage of memory chips [1], directly triggering an upward trend in the memory chip sector. As an electronic component testing service provider, the increase in testing demand from the chip industry brings short-term business expectation benefits to the company.
2. Technical Performance
   : On January 5, it hit a 20CM limit-up, with trading volume significantly higher than the 50-day average [1]; on January 6, it continued its strength and entered the strong stock pool, indicating short-term capital inflow and sufficient momentum.
3. Fundamental Support
   : The company is a dual-use (military and civilian) testing service provider, serving core customers such as Aviation Industry Corporation of China and China Aerospace [2], and has a solid position in testing fields like environmental reliability and electromagnetic compatibility; its cooperation with Shaanxi Huada in commercial aerospace, high-end electronics, and new energy fields [2] further enhances confidence in long-term growth.

1. Industrial Linkage
   : The semiconductor shortage is transmitted to the testing service link through the supply chain, highlighting the close linkage between upstream and downstream industries. The demand fluctuations in the testing industry are highly correlated with the cycle of core technology industries.
2. Business Model Advantage
   : The company’s integrated military-civilian business layout not only benefits from stable demand for military equipment testing but also can seize growth opportunities in civilian high-end electronics and new energy fields relying on technical accumulation, forming a “dual-drive” growth potential.
3. Game Between Capital and Fundamentals
   : Short-term stock price increases are driven by market speculation sentiment, but long-term value still depends on the company’s competitiveness in the testing field and the progress of new business expansion.

1. Short-term Sector Correction Risk
   : If the semiconductor shortage eases faster than expected or market sentiment cools down, the semiconductor sector may correct [1], driving stock price fluctuations.
2. Valuation Pressure
   : Rapid short-term stock price increases may lead to excessively fast valuation growth, and we need to be alert to the risk of valuation bubbles.
3. Business Exposure Limitation
   : The company’s core business is military equipment and civilian aviation testing, and its direct business share in the semiconductor field is limited [2]. We need to rationally judge the correlation between short-term stock price increases and actual business.

1. Industry Growth Dividend
   : The global improvement in quality requirements for electronic components means the testing service industry faces long-term growth opportunities [2].
2. New Field Expansion
   : Cooperation with Shaanxi Huada will help the company enter high-value-added fields such as commercial aerospace and high-end electronics, opening up new growth space [2].

The recent strong performance of Xice Testing (301306) is the result of the combined effect of

and . The technical side shows sufficient short-term momentum, but we need to be alert to the fluctuation risks brought by short-term speculation. The company’s integrated military-civilian business model and new field cooperation provide long-term growth support; the sustainability of subsequent stock prices needs to pay attention to the progress of chip shortages, changes in industry demand, and the implementation of new businesses.