China memory makers are doubling down on capacity — and local tool vendors are among the biggest winners riding this wave.

What happened

Chinese memory makers are aggressively expanding capacity, with local equipment vendors AMEC and Naura Technology being key beneficiaries. AMEC leads in 3D NAND etching, while Naura has developed high-aspect-ratio etching tools targeting 300+ layer NAND. Bearish: Increased future supply from China's capacity build-out poses a long-term downside risk to NAND Flash pricing.

Impact and signal

Affected components and suppliers

Source and time

Source: TrendForce Official (Market Data) · 4/20/2026 · View original source