China's memory chipmakers extend their boom into the third quarter as capacity, policy risks build

China's memory chip industry heads into the final quarter of 2026 riding a global supply shortage: its leading DRAM maker booked more than CNY54 billion (US$8.11 billion) in third-quarter profit, and its chip designers are still lifting sales on tight supply. The same third-quarter results also show where risks are accumulating — rapid capacity expansion, swelling inventories, and a US policy debate that could reach the equipment domestic fabs depend on.