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From the liquidity perspective of A-shares, whether it is Puran or Macronix, these original manufacturers / Taiwanese manufacturers of A-shares are much cheaper than A-share module / Taiwanese module manufacturers.
Phison Electronics, one of the top three global third-party module revenue companies, has revenue that is seven times that of Dapu Micro-UW (SZ301666), with a market value of just around 200 billion.
A-DATA, which is only a few hundred billion, shows you how cheap A-share original manufacturers are.