--- title: "Nanya Technology hit limit-down at NT$324 after record revenue grew just 3.07% in a month" description: "Nanya's twelfth straight revenue record grew just 3.07% month on month, its fabs are full, and it has disclosed over NT$15 billion of equipment orders for a fab that ships nothing until 2027. Today's record Taiex crash tested the bet." publisher: "The Inference" section: "Chips" published: 2026-11-06T14:19:29.546Z modified: 2026-11-06T14:19:29.546Z canonical: https://theinference.org/article/nanya-technology-hit-limit-down-at-nt-324-after-record-revenue-grew-just-3-07-in-a-month language: en keywords: "Nanya Technology, DRAM, Memory, Taiwan, Stock Moves" --- # Nanya Technology hit limit-down at NT$324 after record revenue grew just 3.07% in a month > Nanya's twelfth straight revenue record grew just 3.07% month on month, its fabs are full, and it has disclosed over NT$15 billion of equipment orders for a fab that ships nothing until 2027. Today's record Taiex crash tested the bet. A stock that just posted the best quarter in its history opened 10 percent lower on Friday [1]. [Nanya Technology](https://theinference.org/markets/companies/nanya-technology), Taiwan's largest DRAM maker, hit its daily limit-down at NT$324 as [the Taiex fell a record 3,737.67 points within minutes of the open, its biggest intraday point drop ever](https://focustaiwan.tw/business/202611060006), on AI-policy uncertainty after the US midterms [1]. The selling says investors doubt the record price level can hold, and that question now runs straight into Nanya's own spending: it is committing a DDR4 windfall to a new fab at what may be the top of the cycle [1]. ## The record that stopped growing On November 3, Nanya booked [its twelfth straight monthly revenue record: NT$46.476 billion](https://www.vlsi.kr/en/nanya-october-revenue-flash-en/), up 487.73% year on year but only 3.07% over September, which itself grew just 0.9% [2]. The quarterly surge came from contract repricing, not shipments: third-quarter average selling prices rose more than 60% while bit shipments fell a mid-single-digit percentage, delivering [an 85.7% gross margin and NT$87.63 billion of net profit](https://theinference.org/article/nanya-technology-earned-an-85-7-gross-margin-on-ddr4-as-buyers-paid-24-more-in-three-months) [2][3]. With existing fabs at their volume ceiling, only price is left. Ten months of 2026 revenue, NT$311.76 billion, already runs 4.7 times all of 2025 [2]. *Chart: **Nanya's monthly revenue has plateaued near NT$46 billion** Line chart of Nanya Technology monthly consolidated revenue: October 2025 NT$7.9 billion (estimate, derived from announced year-on-year growth), August 2026 NT$44.69 billion, September 2026 NT$45.09 billion, October 2026 NT$46.48 billion, showing the level rising while month-on-month growth narrows to 0.9% then 3.07%* *Monthly consolidated revenue, NT$ billions, self-assessed. October 2025 is derived from the announced year-on-year growth rate, as VLSI Korea notes. Source 2. [2]* ## The windfall is being spent The board has answered with capacity. In August it lifted the 2026 capex ceiling from NT$52.0 billion to NT$69.7 billion, a figure from our October 27 report [3]. Fab 5A, Nanya's NT$346.6 billion first EUV-equipped DRAM fab, named for the extreme-ultraviolet lithography entering its roadmap, takes equipment move-in in the first quarter of 2027 and reaches 30,000 wafers a month only at the end of 2028 [3]. The machine orders are landing in its Taiwan disclosures: [NT$3.91 billion](https://www.marketscreener.com/news/nanya-technology-to-acquire-machinery-worth-nt-3-91-billion-from-tokyo-electron-ce785fd8d188f32c) and [NT$1.28 billion from Tokyo Electron](https://www.tradingview.com/news/reuters.com,2026:newsml_L3N46L105:0-nanya-technology-acquires-machinery-equipment-for-t-1-28-bln/) [4][5], plus [NT$10.177 billion naming Lam Research and SCREEN](https://x.com/skylabintel/status/2115362831784964287), per posts tracking the disclosures, the weakest sourcing in this count [6]. Disclosed orders total at least NT$15.367 billion [4][5][6]. ## What must stay true Buyers who cannot redesign away from DDR4, PC, car and factory makers, have locked in long-term agreements covering 50 to 70% of sales, per our October 27 report [3]. If 2027 contracts carry the DDR4 premium, the spend pays; if supply from Samsung, [SK hynix](https://theinference.org/markets/companies/sk-hynix), [Micron](https://theinference.org/markets/companies/micron) and China's CXMT mean-reverts the price, NT$346.6 billion is a fab for the downturn [3]. Two dated readings settle it: Nanya's next results on January 14, 2027, show whether average selling prices kept rising, and the 2027 contract negotiations show whether this year's price level locks into next year's revenue [3]. ## Takeaway Nanya's twelfth revenue record grew just 3.07% as fabs hit their ceiling, and the DDR4 windfall is now committed to a NT$346.6 billion fab that ships nothing until 2027. January 14 results and 2027 contract talks settle whether the bet pays. ## Sources 1. [Focus Taiwan (CNA), Taiex plunges over 3,700 points in early trading as TSMC hits limit down, 6 November 2026](https://focustaiwan.tw/business/202611060006) 2. [VLSI Korea, Nanya Posts a 12th Straight Monthly Revenue Record at NT$46.48B, 5 November 2026](https://www.vlsi.kr/en/nanya-october-revenue-flash-en/) 3. [The Inference, Nanya Technology earned an 85.7% gross margin on DDR4 as buyers paid 24% more in three months, 27 October 2026](https://theinference.org/article/nanya-technology-earned-an-85-7-gross-margin-on-ddr4-as-buyers-paid-24-more-in-three-months) 4. [MT Newswires via MarketScreener, Nanya Technology to Acquire Machinery Worth NT$3.91 Billion from Tokyo Electron, 2 November 2026](https://www.marketscreener.com/news/nanya-technology-to-acquire-machinery-worth-nt-3-91-billion-from-tokyo-electron-ce785fd8d188f32c) 5. [Reuters via TradingView, Nanya Technology Acquires Machinery Equipment For T$1.28 Bln, 4 November 2026](https://www.tradingview.com/news/reuters.com,2026:newsml_L3N46L105:0-nanya-technology-acquires-machinery-equipment-for-t-1-28-bln/) 6. [Skylab Intel on X, Nanya named Lam Research and SCREEN on NT$10.177 billion of machinery purchases, 5 November 2026](https://x.com/skylabintel/status/2115362831784964287) --- Nanya Technology hit limit-down at NT$324 after record revenue grew just 3.07% in a month — The Inference. Canonical: https://theinference.org/article/nanya-technology-hit-limit-down-at-nt-324-after-record-revenue-grew-just-3-07-in-a-month