Jiangsu Lettall Electronic vs NAURA Technology: why the prices moved differently

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  Half-year profit explodes on AI computing power Litong Electronics' first-half 2026 net profit jumped 1,275% to 702 million yuan, with revenue up 38.6% and cash flow up 733%. Its AI computing power leasing business is booming, which is the core reason the stock is being re-rated higher.

  This is the single biggest new fact driving the stock: a massive earnings beat tied directly to its AI computing power business.

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  5 billion yuan private placement for intelligent computing center Litong plans to raise up to 5 billion yuan to build an intelligent computing center. This signals management expects AI computing demand to keep growing and gives the company capital to expand capacity, supporting the stock price.

  A large capital raise for AI infrastructure shows the company is investing to sustain growth, a forward-looking positive driver.

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  First cash dividend announced Litong will pay a cash dividend of 0.17 yuan per share, about 62 million yuan total. Paying a dividend for the first time signals confidence in future cash generation and rewards shareholders, a mild positive for the stock.

  The dividend is a new capital-return event that reinforces the positive earnings story and investor confidence.

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  Manufacturing side still weak, but losses narrowing While AI computing power booms, Litong's metal parts manufacturing business faces weak end-market demand. The company is cutting losses through automation, but this drags on overall results and is a real counterweight to the AI-driven rally.

  This is the main risk factor: the traditional manufacturing segment remains soft, so the rally depends heavily on AI computing power.

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  China's five-year plan backs domestic chip equipment Beijing's new 2026-2030 electronics plan makes integrated circuits and chipmaking equipment a priority, aiming for 30 trillion yuan in industry revenue. This policy support lifts NAURA, a key domestic equipment maker, as investors expect more government backing and orders.

  This is a major new policy catalyst that directly boosts demand for NAURA's products.

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  Chinese fabs rush to buy domestic tools, NAURA's orders overflow Western supply restrictions are pushing Chinese chip factories to buy 100% domestic equipment. NAURA's etching, deposition, and cleaning tools let fabs buy almost a full suite from one supplier, and its order backlog is overflowing. This strong demand supports future revenue and profit.

  It shows concrete, ongoing demand driving NAURA's order book, a core reason the stock is moving.

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  Nvidia sales report and OpenAI pause hit chip stocks Two late-September shocks hit chip shares: a report that Beijing may let firms buy Nvidia's advanced chips, and OpenAI pausing some AI training over safety. NAURA fell about 3.3-3.4% on each, as investors feared weaker demand for domestic equipment and a broader AI slowdown.

  These are the main negative forces this period, showing real counterweights to the positive policy and demand story.

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  First-half profit up 5%, but growth is modest NAURA reported first-half 2026 net profit of 3.37 billion yuan, up 5.05% from a year earlier. While still growing, the pace is slower than many peers, which may limit how much the stock can rally on earnings alone.

  It gives the fundamental earnings picture, showing growth but also a potential soft spot.

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  H1 results: revenue up 25%, profit up 5% NAURA reported first-half revenue of 20.16 billion yuan, up 24.9%, and net profit of 3.37 billion yuan, up 5.05%. The slower profit growth reflects costs or mix, but rising market share in etching and deposition equipment shows the core business is expanding.

  The half-year report is the most important new company-specific event and directly shows financial performance.

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  AI and domestic chip push lift equipment demand InnovestX says AI is accelerating Chinese tech investment, with hyperscaler capex revised up sharply and domestic chip production set to rise. This boosts demand for NAURA's chipmaking equipment as China builds its own supply chain.

  This is a new analyst view explaining the big-picture demand driver for NAURA's products.

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  Global AI sell-off and weak China PMI hit tech stocks On August 3, a global sell-off in AI tech stocks and a drop in China's manufacturing PMI dragged NAURA down 6.65% in one day. This shows the stock remains sensitive to broad market and economic worries, even if the long-term story is intact.

  It is a new event that caused a sharp price drop and highlights a real risk factor.

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  SEMI record equipment sales forecast and analyst dip-buy calls SEMI forecasts global chip equipment sales to hit a record $165.9 billion in 2026, up 23.2%, and analysts recommend buying NAURA after the tech correction. This reinforces the view that equipment demand is strong and NAURA is a key beneficiary.

  It provides industry-level support and analyst endorsement that underpin the positive outlook.

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