Dingyang Technology shares fell 11.87% to 68.75 yuan at the close. Market
participants said the prior rally was driven by NVIDIA photonics-chain thematic
speculation, leaving the stock exposed to concentrated profit-taking. The
company said the share move reflected multiple factors and that its ties to
NVIDIA are limited; it does not see pronounced business cyclicality, though some
products have seasonal demand around university term starts. Q1 2026 revenue was
about 162.0 mln yuan, up 22.85% YoY; net profit was about 38.34 mln yuan, down
5.77% YoY. Management pointed to high accounts receivable and a YoY rise in
financial expenses of 10.06 mln yuan—mainly foreign-exchange losses and lower
interest income—plus higher R&D spending and reduced government subsidies as the
main drivers of the profit decline.
