Vector network analyzer (VNA)-related stocks surged in the China A-share market, with Dingyang Technology rising approximately 70% in 6 days. Several other stocks also rebounded, while Puyuan Jingdian made a significant move in the Hong Kong market.
VNA-related stocks are rapidly attracting attention in the China A-share market, with funds flowing into the sector following a report from Huatai Securities. Demand prospects for high-frequency VNAs are considered bullish, and several stocks are rising simultaneously.
Dingyang Technology is the leading stock in this move, rising approximately 70% in the 6 trading days since 16 September. On the night of 21 September, the company announced the launch of the SDS6000B series of high-resolution digital oscilloscopes, along with the SAP160D and SAP200D high-bandwidth differential probes.
From a supply-and-demand perspective, the application of VNAs is expected to expand from research institutes to production lines. As data centers become faster, demand for signal integrity management is increasing, and VNAs are expected to become increasingly essential test equipment.
On the supply side, lead times for Keysight products of 67 GHz and above have lengthened, and one estimate puts the 2027 supply gap at 2,000–3,000 units. Domestic Chinese manufacturers are attracting attention as a channel for the adoption of locally produced alternatives.