野村证券认为，这一轮始于2025年下半年的存储超级周期至少延续至2027年，并且真正有意义的新增供 给最早要到2028年初期才会出现。野村分析师团队表示，投资者们在2026年应继续超配存储龙头，把存 储芯片价格—利润—估值三击作为2026年存储投资主线，而不是仅把存储当HBM单一题材，该机构预 计三大存储芯片公司(三星电子、SK海力士、美光科技)盈利将创历史新高。 相关概念股： 智通财经APP获悉，1月27日，中微半导、国科微2家半导体公司相继发出涨价函，公司旗下部分芯片产 品将不同程度涨价。中微半导发布的涨价通知函显示，受当前全行业芯片供应紧张、成本上升等因素的 影响，封装成品交付周期变长，成本较此前大幅度增加，框架、封测费用等成本也持续上涨。鉴于当前 严峻的供需形势以及巨大的成本压力，经过慎重研究，决定于即日起对MCU、Norflash等产品进行价格 调整，涨价幅度15%~50%。若后续成本再次发生大幅变动，价格也将跟进调整。 据产业链消息，另一家半导体公司国科微也对客户发出涨价函，国科微宣布自1月起对合封512Mb的 KGD（已知合格芯片）产品涨价40%，对合封1Gb的KGD产品涨价60%，对合封2Gb ...

重要新闻提示 宁波富邦：预计2025年归母净利润同比增长3099.59%—4379.43% 中微半导：发布涨价通知函，决定对MCU、Norflash等产品进行价格调整，涨价幅度15%—50% 嘉事堂：股东正筹划公司控制权变更事项，今起停牌 今日提示 科创板新股恒运昌（688785）、北交所新股农大科技（920159）今日上市 鸣鸣很忙今日在港交所挂牌上市，成为港股"量贩零食第一股" 央行公开市场今日有3635亿元逆回购到期 财政部、央行：今日进行2026年中央国库现金管理商业银行定期存款（一期）招投标 国新办今日上午10时举行新闻发布会，国务院国资委副主任庞骁刚介绍2025年国资央企高质量发展情 况，并答记者问 财经新闻 1.国家统计局1月27日发布数据显示，2025年，全国规模以上工业企业实现利润总额73982亿元，比上年 增长0.6%。 2.中国人民银行1月27日消息，中国人民银行日前召开2026年反洗钱工作会议。会议要求，2026年要充 分认识反洗钱工作面临的新形势新要求，认真做好当前和今后一段时期反洗钱重点工作。 具体看，一是持续推进反洗钱条线从严治党，坚持以高水平党建引领业务工作。 二是全力做好第五 ...

Group 1 - Company Zhongwei Semiconductor (中微半导) announced a price increase of 15% to 50% for products such as MCU and Nor flash due to severe supply-demand conditions and significant cost pressures [1][4] - The price adjustment is influenced by industry-wide chip supply tightness, increased costs, and longer delivery cycles for packaged products [4][5] - Zhongwei Semiconductor expects a net profit of approximately 284 million yuan for 2025, representing a year-on-year increase of about 107.55% [5] Group 2 - Company Guokewi (国科微) has also issued a price increase notice, raising prices for KGD products by 40% to 80% depending on the specifications [6][8] - Guokewi anticipates a net loss of 18 to 25 million yuan for 2025, primarily due to not adjusting product prices in response to rising raw material costs [8] - As of January 27, Guokewi's stock price was 144 yuan per share, with a market capitalization of 31.3 billion yuan [11]

Group 1 - Two semiconductor companies, Zhongwei Semiconductor and Guokewi, announced price increases for their chips due to severe supply-demand conditions and rising costs [1][3] - Zhongwei Semiconductor will raise prices for MCU and Nor flash products by 15% to 50%, citing longer delivery cycles and increased costs for packaging and testing [1][3] - Guokewi has issued a price increase of 40% for 512Mb KGD products, 60% for 1Gb KGD products, and 80% for 2Gb KGD products, with further adjustments to be announced for other products [5][7] Group 2 - Zhongwei Semiconductor expects a net profit of approximately 284 million yuan for 2025, representing a year-on-year increase of about 107.55% [3] - Guokewi anticipates a net loss of 18 million to 25 million yuan for 2025, primarily due to not adjusting product prices in response to rising raw material costs [7] - As of January 27, Zhongwei Semiconductor's stock price was 45.71 yuan per share, with a market capitalization of 18.3 billion yuan, while Guokewi's stock price was 144 yuan per share, with a market capitalization of 31.3 billion yuan [3][7]

Group 1: Semiconductor Industry - The semiconductor industry is currently facing systemic cost pressures, with companies like Zhongwei Semiconductor and Guoke Micro announcing price increases of 15%-50% for products such as MCU and Norflash due to supply chain constraints and rising costs [1][2] - The packaging and testing costs have significantly increased, particularly for standard products like MCU and Norflash, leading to longer delivery cycles and greater operational pressure on companies [2] - The demand for DRAM and NAND Flash from major manufacturers is driving up orders for storage testing companies, with price increases of up to 30% expected as capacity utilization approaches full load [2] Group 2: Natural Gas Market - A severe winter storm has caused natural gas prices in the U.S. to surge, with Henry Hub futures reaching $7.43 per million British thermal units, a 140% increase since January 16 [3] - Spot prices in the northeastern U.S. have skyrocketed to between $50 and $150 per million British thermal units due to the storm, which has resulted in significant fatalities [3] - Short-term oil prices are under pressure from tariff policies and OPEC+ production increases, but geopolitical risks and global demand resilience may support oil price stability [3] Group 3: Artificial Intelligence - DeepSeek has launched a new document recognition model, DeepSeek-OCR2, which features a self-developed visual encoder that enhances semantic understanding [4] - The AI application landscape is expected to accelerate significantly by late 2025 to early 2026, with major tech companies making strategic moves in the AI space [4] - The upcoming release of DeepSeek's V4 model is anticipated to create competitive pressure on overseas closed model vendors, potentially reshaping the global AI market [5] Group 4: Brain-Computer Interface - The Brain-Computer Interface (BCI) industry is transitioning from laboratory research to clinical and consumer applications, with significant policy support and technological advancements driving this shift [5] - The BCI has been included in China's "14th Five-Year Plan" as a key development area, with independent billing projects set to be established by 2025 [5] - Non-invasive BCI technologies are already in mass production for rehabilitation and focus training, with companies like Neuralink planning to scale production of BCI devices [5] Group 5: Macro and Industry News - China Aviation Engine Corporation has outlined its strategic tasks for the "14th Five-Year Plan," focusing on accelerating the development of aviation engines and achieving technological self-reliance [6] - A major green hydrogen project in Inner Mongolia has undergone a significant capacity increase, now featuring 308 alkaline electrolysis cells and 152 PEM devices [7] - The National Energy Administration has established several standardization technical committees related to the hydrogen energy sector [7]

国科微还表示，对于第二季度的价格涨幅，公司会根据第二季度KGD的涨幅进行调整，具体执行策略 另行通知。 互动易显示，国科微在1月初回复投资者时表示，AI时代下，多模态应用与企业级存储需求呈现爆发式 增长成为存储市场价格上涨的主要原因之一。相关报道显示，存储芯片的涨价风暴可能影响整个芯片品 类和电子产品制造链。 公司在日常经营中充分考虑市场需求、原材料成本周期、在手订单及库存等多 种因素，综合运用产能合作、提前备货、锁价等方式降本增效，并根据市场情况制定、调整价格策略， 及时满足下游客户需求，保障公司及股东利益。 同时，公司也正规划SoC平台DDR适配提速工作。 记者从产业链了解到，既存储芯片大幅涨价后，已有模拟芯片公司开始对部分产品进行涨价。 继存储芯片接连涨价后，芯片涨价的公司、品类都在扩容。 1月27日晚间，中微半导在官方微信号发布了涨价函，表示鉴于当前严峻的供需形势以及巨大的成本压 力，经过慎重研究，决定于即日起对MCU、Nor flash等产品进行价格调整，涨价幅度为15%至50%。 对于涨价原因，中微半导表示，受当前全行业芯片供应紧张、成本上升等因素的影响，封装成品交付周 期变长，成本较此前大幅度增 ...

| | | 中微半导[688380] 2026-01-27 15:30 | | | 5PMA = | | 10PMA = 20PMA = 30PMA = | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 50.00 | | | | | | | | | | 47.21 | | | | | | | | | | 44.43 | | | | | | | | | | 41.64 | | | | | | | | | | 38.86 | | | | | | | | | | 36.07 | | | | | | | | | | 33.28 | | | | | | | | | | 30.50 | | | | | | | | | | 27.71 | | | | | | | | | | 60.19万 | 成交量:363084 | | | | | | | | | 45.15万 | | | | | | | | | | 30.10万 | | | | | | | | | | 15.05万 | | | | | | | | | | | | | 8 | | | == | | ...

【导读】中微半导宣布旗下部分芯片产品价格将涨价15%～50% 中微半导1月27日发出涨价函，公司旗下部分芯片产品价格将上涨15%～50%。 东莞证券认为，AI驱动半导体产业链价格全线调涨，可能会对下游消费类电子（如手机、电脑等）成本端构成一定压力，进而影响终端出货，但AI 设施投入在2026年持续加大为确定性事件，建议关注半导体先进封装、先进封装相关设备、CPU的投资机遇。 涨价通知函称，受当前全行业芯片供应紧张、成本上升等因素的影响，封装成品交付周期变长，成本较此前大幅度增加，框架、封测费用等成本也 持续上涨。鉴于当前严峻的供需形势以及巨大的成本压力，经过慎重研究，决定于即日起对MCU、Norflash等产品进行价格调整，涨价幅度为15%～ 50%。 中微半导还强调，如果后续成本再次发生大幅变动，价格也将跟进调整。 华安基金基金经理刘璇子今日表示，长期来看，AI驱动的高端半导体赛道及国产替代主线仍受市场关注。整体而言，AI驱动的算力与存力需求爆 发、国产替代的持续突破，有望为芯片半导体板块提供广阔成长空间。 芯片半导体板块探底回升 二级市场方面，1月27日，芯片半导体板块探底回升，领涨市场。 截至收盘，中微 ...

Market Overview - The A-share market exhibited a fluctuating and differentiated pattern last week, with major indices showing mixed performance and active rotation among hot sectors [1][7] - Institutions generally hold an optimistic outlook, believing the market is likely to trend upward [1][7] - As of January 25, over 950 companies have disclosed their 2025 earnings forecasts, with around 40% of these companies showing positive performance [1][7] Semiconductor Industry - The semiconductor industry, particularly companies related to artificial intelligence, data center construction, and domestic substitution, is expected to see strong earnings growth in 2025 [1][8] - Notable companies include: - Zhongwei Semiconductor expects revenue of approximately 1.122 billion yuan, a year-on-year increase of about 23%, and a net profit of 284 million yuan, up approximately 107% [8] - Juchip Technology anticipates revenue of 922 million yuan, a 41.44% increase, and a net profit of 204 million yuan, up 91.40% [2] - Baiwei Storage forecasts revenue between 10 billion to 12 billion yuan, a growth of 49.36% to 79.23%, and a net profit of 850 million to 1 billion yuan, a staggering increase of 427.19% to 520.22% [3][9] Pharmaceutical Industry - The pharmaceutical sector is experiencing a "polarized" performance, with over 60 companies disclosing earnings forecasts, about half of which are positive [1][9] - Key performers include: - Zhaoyan New Drug expects a net profit of approximately 233 million to 349 million yuan, a year-on-year increase of 214% to 371% [10] - Shanghai Yizhong anticipates a net profit of 6 million to 7 million yuan, a growth of 760.18% to 903.54% [10] - However, companies like Zhifei Biological are projected to incur significant losses, with an expected net loss of 10.7 billion to 13.7 billion yuan [10][5] Banking Sector - As of January 25, eight listed banks have released earnings reports, with all showing year-on-year growth in net profit [5][11] - Key statistics include: - China Merchants Bank's total assets surpassing 13 trillion yuan, and Industrial Bank exceeding 11 trillion yuan [11] - The highest net profit growth among these banks is from Hangzhou Bank at 12.05%, followed by Shanghai Pudong Development Bank at 10.52% [11] - The growth drivers for banks include improved cost of liabilities and rapid growth in intermediary business income, with Ningbo Bank's net income from fees and commissions increasing by 30.72% [12]

Core Viewpoint - Zhongwei Semiconductor announced a price increase of 15% to 50% for MCU and Nor flash products due to industry-wide chip supply tightness and rising costs [1][3][8] Price Adjustment Announcement - The price adjustment is effective immediately and is attributed to longer delivery cycles and significantly increased costs for packaging and testing [3][8] - The company emphasizes its commitment to providing stable delivery support and competitive business conditions during this challenging period [3][8] Financial Performance Forecast - Zhongwei Semiconductor expects to achieve approximately 1.122 billion yuan in revenue for the year 2025, representing a year-on-year growth of about 23.07% [8] - The projected net profit attributable to shareholders is around 284 million yuan, reflecting a substantial year-on-year increase of 107.55% [8] - The net profit after deducting non-recurring gains and losses is expected to be approximately 169 million yuan, marking an increase of 85.36% year-on-year [8] Industry Context - Another domestic chip manufacturer, Guokewai, has also announced a price increase, indicating a broader trend in the industry [8]