Biwin Signs $1.86 Billion Flash Memory Deal

According to an announcement released by Biwin Storage, the company disclosed on June 9, 2026, that it has entered into a significant long-term procurement agreement with a major memory chip manufacturer. The agreement is designed to secure a stable supply of enterprise-grade NAND flash memory and will remain in effect for two years. Under the contract, both purchase volumes and pricing are locked in advance, with the total transaction value reaching approximately US$1.861 billion (around RMB 12.63 billion).

According to the filing, the agreement is denominated in U.S. dollars and became effective immediately upon signing by authorized representatives of both parties. The contract will remain valid through the end of June 2028, while product deliveries are scheduled from the third quarter of 2026 through the second quarter of 2028. The agreement also applies to the controlled subsidiaries of both contracting parties.

Biwin stated that the planned procurement volumes for 2026 and 2027 represent only 4.45% and 14.88%, respectively, of its total NAND flash purchases in 2025. The company emphasized that the transaction will not affect its operational independence and will not result in excessive reliance on any single memory chip manufacturer.

The company further noted that the agreement is expected to strengthen long-term access to flash memory production capacity and improve supply chain visibility, helping mitigate potential shortages caused by fluctuations in market demand and supply. The financial impact of the contract, including cost and revenue recognition, will be accounted for in accordance with applicable accounting standards and internal policies, with relevant details reflected in future financial reports.

Due to the transaction's size—exceeding RMB 100 million and accounting for more than 50% of the company’s audited total assets and annual revenue from the previous fiscal year—the agreement triggered disclosure requirements under Shanghai’s STAR Market regulations. However, the matter does not require shareholder or board approval and is not classified as a related-party transaction or a major asset restructuring.

To protect commercial confidentiality, Biwin completed the necessary internal exemption procedures and did not disclose the identity of the memory chip manufacturer involved in the agreement. The arrangement highlights the growing importance of long-term supply agreements as memory industry participants seek greater stability in securing NAND flash capacity amid evolving market conditions.