Group 1 - The DRAM market is experiencing significant price increases due to the discontinuation of older process DRAM products by manufacturers, with expectations of a 20%-50% quarter-on-quarter price increase in Q4 2025 [1][3] - Nanya Technology's contract price surged by 70% in Q3 2025 and is expected to rise by another 50% in Q4 2025, while Winbond's prices increased by 60% in Q3 2025 and are projected to rise by 20% in Q4 2025 [1][3] - The market is facing a supply-demand imbalance as major manufacturers exit the niche DRAM market, leading to continued price increases throughout the year [1][4] Group 2 - The NAND flash market is seeing rising prices driven by increased capital expenditures from domestic internet companies, with Alibaba investing 38.6 billion yuan in AI and cloud infrastructure in Q2 2025 [2] - The demand for enterprise-level storage applications is expected to grow significantly due to the acceleration of AI applications, with a potential price increase in the storage market anticipated in Q4 2025 [2] - The NOR Flash market is also expected to see price increases in Q4 2025 due to healthy supply-demand dynamics, with double-digit percentage increases likely [4] Group 3 - The niche storage market is experiencing price increases due to structural shortages, with companies like Winbond, Nanya Technology, and Macronix showing consistent revenue growth since 2025 [4] - Customized storage solutions are gaining traction, with companies that have a first-mover advantage likely to benefit from the industry wave [4] Group 4 - Investment recommendations include focusing on niche storage companies such as Zhaoyi Innovation, Puran, and Jucheng, as well as module manufacturers and storage supporting chip companies [5]

证券日报网讯 9月23日晚间，开普云发布公告称，公司正在筹划发行股份及/或支付现金的方式收购深 圳市金泰克半导体有限公司或其存储业务资产的控制权（简称"本次交易"）。本次交易预计构成重大资 产重组，构成关联交易，不构成重组上市。截至本公告披露之日，本次交易所涉及的审计、评估等工作 尚未完成，公司及有关各方正在积极推进本次交易相关工作。公司将根据本次交易的进展情况，严格按 照相关法律法规的规定和要求及时履行信息披露义务。 （文章来源：证券日报） ...

二、本次交易进展情况 根据上海证券交易所的相关规定，经公司申请，公司 A 股股票（证券简称： 开普云，证券代码：688228）自 2025 年 8 月 11 日（星期一）开市起停牌，停牌 期间，公司积极组织各方推进本次交易的相关工作，并根据相关规定及时履行信 息披露义务，具体内容详见公司分别于 2025 年 8 月 9 日、2025 年 8 月 16 日在 上海证券交易所网站（www.sse.com.cn）披露的《关于筹划重大资产重组的停牌 公告》（公告编号：2025-039）、《开普云信息科技股份有限公司关于筹划重大 资产重组的停牌进展公告》（公告编号：2025-044）。 2025 年 8 月 22 日，公司召开第三届董事会第二十六次临时会议、第三届监 事会第二十三次临时会议，审议通过了《关于<开普云信息科技股份有限公司重 大资产购买暨关联交易预案>及其摘要的议案》《关于<开普云信息科技股份有 限公司发行股份购买资产并募集配套资金暨关联交易预案>及其摘要的议案》等 与本次交易相关的议案。经公司申请，公司股票（证券简称：开普云，证券代码： 688228）于 2025 年 8 月 25 日开市起复牌。具体内容 ...

开普云公告，开普云信息科技股份有限公司正在筹划发行股份及/或支付现金的方式收购深圳市金泰克 半导体有限公司或其存储业务资产的控制权。本次交易预计构成重大资产重组，构成关联交易，不构成 重组上市。截至本公告披露之日，本次交易所涉及的审计、评估等工作尚未完成，公司及有关各方正在 积极推进本次交易相关工作。公司将根据本次交易的进展情况，严格按照相关法律法规的规定和要求及 时履行信息披露义务。 ...

Core Viewpoint - The stock of Kaipu Cloud (688228.SH) has experienced a significant price increase, with a cumulative deviation of over 200% in closing prices over 21 consecutive trading days, indicating severe abnormal trading behavior [1] Group 1: Stock Performance - The company's stock price has surged sharply in the short term, raising concerns about market sentiment being overheated and the potential for irrational speculation and profit-taking risks [1] - The rolling price-to-earnings (P/E) ratio of the company stands at 354.58, which is significantly higher than the industry average, indicating a substantial valuation deviation [1] Group 2: Business Operations - The company is currently advancing a major asset restructuring, but the related auditing and evaluation work has not yet been completed, leading to uncertainties regarding the transaction [1] - There has been no corresponding change in the company's operating performance that aligns with the recent stock price increase, suggesting a risk of market trading changes without supporting profitability changes [1] - The company has no other significant matters that need to be disclosed [1]

证券代码：688228 证券简称：开普云 公告编号：2025-065 开普云信息科技股份有限公司 股票交易严重异常波动公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 开普云信息科技股份有限公司（以下简称"公司"）股票交易连续 21 个交易日（2025 年 8 月 25 日至 2025 年 9 月 22 日）日收盘价格涨幅偏离值 累计超过 200%，根据《上海证券交易所交易规则》《上海证券交易所科创 板股票异常交易实时监控细则》的有关规定，属于股票交易严重异常波动情 形。公司股价短期涨幅较大，敬请投资者注意二级市场股票交易风险。 股价累计涨幅较大风险。截至 2025 年 9 月 22 日，公司收盘价为 214.00 元/股，自 2025 年 8 月 25 日至 2025 年 9 月 22 日，公司股价累计涨幅为 225.23%，公司股票日均换手率为 8.76%。目前，公司股票价格波动严重异 常，股价剔除大盘和板块整体因素后的实际波动幅度较大，可能存在市场情 绪过热的情形，可能存在非理性炒作，交易风险较大， ...

格隆汇9月22日｜开普云公告，公司股票交易连续21个交易日收盘价格涨幅偏离值累计超过200%，属于 股票交易严重异常波动情形。公司股价短期涨幅较大，存在市场情绪过热、非理性炒作及获利调整风 险。此外，公司估值显著偏离同行业平均水平，滚动市盈率为354.58。公司正推进重大资产重组，但相 关审计、评估工作尚未完成，交易存在不确定性。公司经营业绩未发生与近期股票涨幅对应的变化，存 在相关市场交易变化无对应盈利能力变化支撑的风险。公司不存在其他应披露而未披露的重大事项。 ...

| 八四1月1 | | | | --- | --- | --- | | 波长光电 | -0.28% | 2823.64 | | 川润股份 | -1.23% | 2294.85 | | 友邦吊顶 | 9.98% | 1854.85 | | 初灵信息 | 19.99% | 1669.77 | | 登云股份 | 3.12% | 566.41 | | 华软科技 | 10.06% | 383.40 | | 德众汽车 | -5.67% | -315.37 | | 兴业科技 | -9.44% | -404.51 | | 苏宁环球 | -9.93% | -733.07 | | 公元股份 | -7.06% | -1814.21 | | 通源环境 | 16.19% | -1824.76 | | 联美控股 | 9.97% | -1876.01 | | 中科蓝讯 | 20.00% | -1885.33 | | 佰奧智能 | 20.00% | -2035.31 | | 卡莱特 | 10.97% | -2448.64 | | 德明利 | 10.00% | -2538.93 | | 山河智能 | 5.05% | -2735.79 | | ...

Market Overview - On September 22, the storage sector saw gains in memory, flash memory, and storage chips, with notable performances from companies like Demingli and Wanrun Technology, which hit the daily limit, and others like Kaipu Cloud and Juchen Co., which rose over 10% [1] Company Performance - Demingli (001309.SZ) achieved a price of 155.11 with a 10.00% increase, focusing on enterprise-level storage applications in servers and data centers, with a market cap of 24.783 billion [2] - Wanrun Technology reached a price of 15.82, up 10.01%, with a market cap of 13.372 billion, and is involved in semiconductor storage [2] - Juchen Co. (002654.SZ) saw a 14.57% increase, focusing on EEPROM technology and collaborating on DDR5 memory [2] - Kaipu Cloud (688123.SS) is planning to acquire a 70% stake in Nanning Taike, expanding its semiconductor storage product line [2] - Other companies like Xiangnan Zhichuang and Zhaoyi Innovation also reported gains, with Zhaoyi Innovation being ranked third globally in NOR Flash market [2] Industry Events - Morgan Stanley upgraded the memory industry rating from "neutral" to "attractive," predicting a super cycle driven by AI demand leading to supply shortages, particularly in traditional flash memory [3] - The report highlighted that NOR flash is expected to remain in low supply until 2026 due to competition for production capacity from higher-margin products [3] - DDR4 supply is projected to be insufficient by 10% to 15% from Q4 2025 to Q2 2026, with price increases expected due to urgent orders in the cloud server sector [4] Price Adjustments - Micron announced a price increase of 20%-30% for storage products, following SanDisk's 10% increase, with all DDR4 and DDR5 products halting quotes temporarily [4] - Samsung also informed clients of expected price hikes for DRAM and NAND products, with DRAM capacity projected to be only 20% of 2025 levels [4] Institutional Insights - The recent price adjustments by Micron and SanDisk are seen as a result of the AI-driven restructuring of the storage chip industry, leading to a widening supply gap for DDR4 [5] - Trendforce noted that HDD suppliers have not planned for capacity expansion, resulting in extended delivery times and an increasing shift towards SSDs due to narrowing price differences [5] - The NAND market has maintained low capacity utilization, with expectations for price increases driven by high demand for enterprise SSDs [5]

每经AI快讯，9月22日，开普云涨4.91%，报195.98元/股，股价再创新高，总市值突破132.32亿元，成交 额达2.17亿元。 （文章来源：每日经济新闻） ...