[Alpha Biz= Kim Minyoung] A Chinese semiconductor firm, Yuanjie Technology, has overtaken liquor giant Kweichow Moutai to become the most expensive stock in China’s A-share market.

According to Chinese media reports on February 18, Yuanjie’s shares surged 10.05% to close at RMB 1,445, while Moutai fell 3.8% to RMB 1,407.24.

The milestone highlights a shift in investor preference from traditional consumption stocks to high-growth technology names, particularly those tied to artificial intelligence (AI).

Yuanjie’s stock has soared nearly 14.7 times over the past year from RMB 92.01, reflecting strong optimism around its transition toward AI-related semiconductor applications. The company develops and manufactures laser chips and has pivoted from telecommunications-focused products to data center and AI computing components.

In 2024, Yuanjie reported revenue of RMB 601 million, up 138.5% year-over-year, while net profit attributable to shareholders reached RMB 191 million, marking a return to profitability.

Despite the surge, Yuanjie’s earnings remain relatively small compared to Moutai, with its net profit accounting for only about 0.23% of the liquor giant’s earnings.

Meanwhile, Moutai reported declines in both revenue and net profit last year for the first time since its listing in 2001. Revenue fell 1.21% to RMB 168.8 billion, while net profit dropped 4.53% to RMB 82.32 billion.

Bloomberg noted that Yuanjie’s rapid rise reflects growing investor enthusiasm for AI supply chain opportunities. However, analysts caution that maintaining its position as the most expensive stock may prove challenging.

 

 

 

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