AI Demand Revives Macronix’s Profit Prospects, Shen Hsueh-jung’s Timely Bet Pays Off Handsomely

Macronix International has long focused on NOR Flash and NAND Flash but posted losses for three consecutive years from 2023 through 2025. Demand for memory products such as eMMC is rising with the growth of AI devices, while rivals’ retreat from the low-capacity market has fueled shortages and price increases, improving the company’s product mix. The turnaround will determine whether Macronix can achieve stable profitability and has drawn attention to Shen Hsueh-jung’s decision to increase his stake near the bottom of the cycle.

Macronix said on April 27 that revenue reached NT$10.469 billion in the first quarter of 2026, up 35% from the previous quarter and 71% from a year earlier. Net income was NT$1.779 billion, with earnings per share of NT$0.9, ending 10 consecutive quarters of losses. A March 10 asset declaration filed with the Control Yuan showed that Shen’s holdings had fallen to 34,170 lots from a 2025 peak of 63,137 lots. Based on the March 12 closing price of NT$99.7, the stake was worth more than NT$3.4 billion.