据交易所数据显示，截至4月1日午间收盘，主力资金流出前20的股票分别为： 阳光电源（-22.54亿 元）、 比亚迪（-9.92亿元）、 德明利（-6.66亿元）、 平潭发展（-5.87亿元）、 金风科技（-5.29亿 元）、 亿纬锂能（-5.23亿元）、 巨力索具（-4.72亿元）、 顺灏股份（-4.35亿元）、 航天发展（-4.10 亿元）、 烽火通信（-3.19亿元）、 蓝色光标（-3.15亿元）、 利欧股份（-3.14亿元）、 神州高铁 （-2.76亿元）、 再升科技（-2.70亿元）、 神剑股份（-2.68亿元）、 拓日新能（-2.67亿元）、 赤峰黄 金（-2.66亿元）、 信维通信（-2.62亿元）、 佰维存储（-2.48亿元）、 亨通光电（-2.46亿元）。 ...

深圳佰维存储科技股份有限公司 关于 2024 年限制性股票激励计划首次授予第二个归属 期归属结果暨股份上市的公告 本公司董事会及全体董事保证本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： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 3,705,000股。 证券代码：688525 证券简称：佰维存储 公告编号：2026-026 本次股票上市流通总数为3,705,000股。 本次股票上市流通日期为2026 年 4 月 8 日。 本次限制性股票归属数量与来源：2024 年限制性股票激励计划（以下简称 "《2024 年激励计划》"）首次授予第二个归属期本次归属 3,705,000 股。上述股票 均来源于公司向激励对象定向发行的公司 A 股普通股股票。 根据中国证监会、上海证券交易所、中国证券登记结算有限责任公司上海分 公司有关业务规则的规定，深圳佰维存储科技股份有限公司（以下简称"公司"） 于近日收到中国证券登记结算有限责任公司上海分公司出具的《证券变更登记证 明》，已完成了公司 2024 年激励计划首次授予第二个归属期 ...

证券代码：688525 证券简称：佰维存储 公告编号：2026-027 深圳佰维存储科技股份有限公司 关于 2026 年第一季度为控股子公司提供担保的进展 公告 本公司董事会及全体董事保证本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、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | 实际为其提供的担保 | 是否在前期 | 本次担保是否 | | --- | --- | --- | --- | --- | | | | 合同总金额 | 预计额度内 | 有反担保 | | | | 万元 130,000 | | | | 广东泰来封测科技有限公司 | 30,000 万元 | （含本次 10,000 万元 | 是 | 否 | | | | 续期） | | | | 广东芯成汉奇半导体技术有限公司 | 10,000 万元 | 万元 90,000 | 是 | 否 | | | | （不含本次） | | | | 佰维存储科技有限公司 | | | | | | | | 20,000 万元 | | | | （Biwin Semiconductor（HK） | ...

[Table_Reportdate] 2026年03月30日 标配 行 业 周 报 [证券分析师 Table_Authors] 方霁 S0630523060001 fangji@longone.com.cn 联系人 方逸洋 [table_stockTrend] -35% -16% 3% 22% 41% 61% 80% 25-03 25-06 25-09 25-12 申万行业指数:电子(0727) 沪深300 [相关研究 table_product] 1.乐鑫科技（688018）：公司AIOT产 品不断迭代，毛利率继续维持较高水 平——公司简评报告 2.GTC大会正式发布Vera Rubin与 LPU，国内头部CSP云业务持续增长 — — 电子行业周报 2026/3/16- 2026/3/22 3.寒武纪（688256）：全年业绩高增， 关注下一代思元芯片商业化落地— —公司简评报告 [Table_NewTitle 中国晶圆产能占比望超 ] 30%，小米2025 年四大业务协同增长 fyy@longone.com.cn 联系人 ——电子行业周报2026/3/23-2026/3/29 董经纬 [table_mai ...

点击招商研究小程序查看PDF报告原文 招商电子团队近日参加了在深圳举办的MemoryS 2026闪存大会，三星电子、铠侠、闪迪、 Solidigm、江波龙、群联电子、大普微等国内外存储公司出席了大会并对AI推理对NAND需求变化、 eSSD技术演进、端侧AI存储发展等做了非常详细的主题演讲，我们整理了本次大会演讲的核心观点， 供投资者参考。 需求端：AI正快速吞噬存储半导体产能，eSSD为2026年NAND最大应用市场。 AI服务器存储用量是通 用服务器的4-5倍，2026年AI需求中SOCAMM、服务器NAND、服务器DRAM、HBM预计同比增长 150%、63%、44%、35%。DRAM的下游中，服务器2026年占比将超过50%。AI推理驱动eSSD成 为2026年NAND最大应用市场，预计KV Cahce的占用提升叠加HDD短缺带来的QLC增长将会导致服 务器2026年占NAND应用的37%。上下文的增长带来KV cache呈现指数级增长，据估算，单次提示推 理上下文128k tokens会产生约61GB KV cache，如果100k用户每次对话64k tokens，均进行15次对 话，则会产生45P ...

- Model Name: 250-Day New High Distance Model; Model Construction Idea: The model tracks the distance of the latest closing price from the highest closing price in the past 250 trading days to identify stocks that are hitting new highs; Model Construction Process: The formula used is $ 250 \text{ Day New High Distance} = 1 - \frac{Closet}{ts\_max(Close, 250)} $ where Closet is the latest closing price and ts_max(Close, 250) is the maximum closing price in the past 250 trading days. If the latest closing price hits a new high, the distance is 0; if it falls back, the distance is positive, indicating the extent of the fallback[11][12][13]; Model Evaluation: This model is effective in identifying stocks that are leading the market and can be used to track market trends and hotspots[11][19] - Factor Name: Stable New High Stocks; Factor Construction Idea: The factor focuses on stocks that have not only hit new highs but also exhibit stable price paths and strong momentum; Factor Construction Process: The selection criteria include analyst attention (at least 5 buy or hold ratings in the past 3 months), relative stock strength (top 20% in market performance over the past 250 days), price stability (using metrics like the sum of absolute daily returns over the past 120 days), and trend continuation (average 250-day new high distance over the past 120 days and past 5 days). The top 50% of stocks based on these criteria are selected[26][29][30]; Factor Evaluation: This factor is designed to capture stocks with strong and stable momentum, which are less likely to experience sudden drops and more likely to continue their upward trend[26][29] Model Backtest Results - 250-Day New High Distance Model, Shanghai Composite Index: 6.43%, Shenzhen Component Index: 5.13%, CSI 300: 6.01%, CSI 500: 10.64%, CSI 1000: 9.51%, CSI 2000: 9.52%, ChiNext Index: 2.73%, STAR 50 Index: 16.40%[12][34] Factor Backtest Results - Stable New High Stocks, Number of Stocks: 14, including companies like Asia Integration, Biwin Storage, Salt Lake Shares, etc.; Sector Distribution: Most stocks are from cyclical and technology sectors, with 6 stocks each. In the cyclical sector, the most new highs are in the basic chemical industry; in the technology sector, the most new highs are in the electronics industry[30][33]

Investment Rating - The semiconductor industry is rated as "Neutral" with expectations of performance in line with the market index within ±10% over the next six months [40]. Core Insights - The semiconductor industry index has seen a decline of 5.51% over the past two weeks, underperforming the CSI 300 index by 1.03 percentage points. However, since the beginning of 2026, the semiconductor index has increased by 2.17%, outperforming the CSI 300 index by 5.46 percentage points [5][12]. - The rise in storage prices is negatively impacting the demand for consumer electronics, with smartphone shipments in China showing significant year-on-year declines in recent months [4][32]. - The introduction of Google's TurboQuant algorithm, which significantly reduces memory usage for large language models, has led to stock price adjustments for major storage companies [32]. Industry Overview Semiconductor Industry Review - The semiconductor industry index has experienced a recent decline, with a two-week drop of 5.51% as of March 26, 2026, while it has increased by 2.17% since the start of the year [12]. - The industry is facing challenges due to rising storage prices, which have led to increased costs for consumer electronics manufacturers, resulting in lower smartphone shipment volumes [4][32]. Industry News and Developments - Several smartphone manufacturers have announced price increases due to rising memory costs, with some models seeing price hikes of up to 1000 yuan [13]. - The Chinese smart glasses market is projected to see a shipment volume of 2.46 million units in 2025, reflecting a year-on-year growth of 87.1% [14]. - Shenzhen is promoting the development of core chip products and advanced packaging technologies for storage chips, focusing on high-end storage products [20]. Company Announcements and Dynamics - Biwei Storage has signed a $1.5 billion procurement contract for storage wafers, which is expected to stabilize supply and mitigate price fluctuations [23]. - North China Innovation has launched a new generation of 12-inch ICP etching equipment, targeting advanced logic and storage sectors [24]. Semiconductor Industry Data Updates - Global smartphone shipments reached 336 million units in Q4 2025, with a year-on-year growth of 2.28% [25]. - In February 2026, domestic electric vehicle sales in China were 765,000 units, down 14.2% year-on-year [27]. - Global semiconductor sales in January 2026 were $82.54 billion, reflecting a year-on-year increase of 46.1% [29]. Investment Recommendations - Companies to watch include Northern Huachuang, which reported a revenue of 27.301 billion yuan for the first three quarters of 2025, a year-on-year increase of 32.97% [34]. - Other notable companies include Zhongwei Company, which expects a net profit of 2.08 to 2.18 billion yuan for 2025, and Biwei Storage, which anticipates a net profit increase of 427.19% to 520.22% [36][38].

Core Viewpoint - The article discusses the recent decline in the A-share storage chip market, highlighting the impact of Google's new compression algorithm, TurboQuant, on memory demand and the overall storage industry outlook [1][3][5]. Group 1: Market Performance - On March 27, A-share storage chips experienced a collective decline, with companies like Baiwei Storage dropping over 6% at one point, and other firms such as Jiangbolong and Zhaoyi Innovation also seeing declines of over 3% [1][2]. - The storage index showed significant drops across various companies, with Jiangbolong at -3.73%, Zhongdian Port at -3.31%, and Baiwei Storage at -3.01% [2]. Group 2: Technological Developments - Google introduced TurboQuant, a compression algorithm aimed at reducing memory requirements for AI systems, particularly addressing key-value cache bottlenecks [3][4]. - TurboQuant can compress key-value caches to 3-bit precision without retraining models, achieving approximately 6 times memory compression while maintaining model accuracy [3][4]. Group 3: Industry Outlook - Despite the recent market downturn, the long-term demand for storage chips remains strong, driven by increased investments in AI infrastructure by overseas CSPs, which is expected to boost enterprise storage demand [5]. - Analysts predict that the current storage cycle's intensity and sustainability may surpass the previous cycle, with significant profit increases for related industry chain companies [5]. - Supply constraints are expected to persist until at least the second half of 2027, despite major DRAM manufacturers planning production increases of about 26% for DRAM and 24% for NAND by 2026 [5].

根据《证券发行上市保荐业务管理办法》和《上海证券交易所科创板股票上 市规则》等有关法律、法规的规定，华泰联合证券有限责任公司（以下简称"华 泰联合证券"或"保荐人"）作为深圳佰维存储科技股份有限公司（以下简称"佰 维存储"、"公司"或"发行人"）向特定对象发行 A 股股票的保荐人，对佰维存 储进行持续督导，并出具本持续督导跟踪报告。 一、保荐人和保荐代表人发现的问题及整改情况 无。 二、重大风险事项 本持续督导期间，公司面临的风险因素主要如下： （一）核心竞争力风险 华泰联合证券有限责任公司 关于深圳佰维存储科技股份有限公司 2025 年度持续督导跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司名称：深圳佰维存储科技股份有 | | --- | --- | | | 限公司 | | 保荐代表人姓名：王天琦 | 联系电话：0755-81902000 | | 保荐代表人姓名：刘小东 | 联系电话：0755-81902000 | 1、研发失败的风险 半导体存储行业技术处于不断迭代更新之中，半导体存储器设计制造企业需 要持续进行产品升级和新产品开发等技术研发活动，以应对不断变化的下游市场 需求和行业技术 ...

Core Viewpoint - The article discusses the recent performance of semiconductor stocks in the A-share market, highlighting the impact of AI demand on the semiconductor industry and the differentiation in the storage chip sector [3][5][6]. Group 1: Semiconductor Stock Performance - Multiple semiconductor stocks in the A-share market saw gains, with Jin Hai Tong (603061.SH) rising over 4%, and other companies like SiDa Semiconductor (603290.SH) and HaiGuang Information (688041.SH) also experiencing increases [3]. - The Philadelphia Semiconductor Index in the U.S. rose by 1.21%, with Arm's stock surging by 16.38% after announcing its first self-developed AGI CPU, projected to generate $15 billion in revenue per product by 2031 [4]. Group 2: AI Demand and Market Dynamics - Intel and AMD have informed customers of upcoming price increases for CPUs in March and April, indicating a growing demand for AI computing power and an expanding market space [5]. - Google introduced a new AI memory compression technology, TurboQuant, which can reduce memory usage for large language models by at least six times without sacrificing accuracy, raising concerns about future storage demand [5]. Group 3: Storage Chip Sector Analysis - The growth in the storage chip sector is entering a phase of differentiation, with AI demand expected to provide long-term market growth momentum [6][7]. - TrendForce data indicates that the global supply-demand imbalance for memory will continue into 2026, with major DRAM manufacturers expected to increase production by approximately 26% and NAND production by about 24% [7]. - Despite the anticipated production increases, the actual expansion of supply from domestic manufacturers may take time, leading to a potential shift from broad sector growth to structural differentiation, particularly favoring high-end markets like HBM [7].