China Great Wall's Research Reports point out that Montage Technology (688008.SH) forecasts a 239% year-on-year increase in non-net profit median for 2024, with interconnection chip revenue hitting a new high. This is mainly due to the recovery in demand for memory interface and module supporting chips, the increase in DDR5 penetration rate with ongoing iterations of successors, and the company's new high-performance AI capacity chips (PCIe Retimer, MRCD/MDB, CKD chips) beginning mass shipments. The company's MXC chip has been listed as one of the first CXL?2.0 compliant suppliers, leading the industry. As new products gradually increase in volume, they are expected to drive future performance growth. As a leader in domestic memory interface chips, the company will fully benefit from the increase in DDR5 penetration and the AI wave, with a considerable market space for domestic CPUs and a still low market share of local manufacturers, providing broad growth prospects for the company in the future. Maintain 'Shareholding' rating.