柜台"无价亦无货" 在不足1个月的时间里，单台服务器价格上涨了10万元，且此 价格并非最终成交价。 作者：郑晨烨 封图：图虫创意 "当前报价为40万元。"2026年1月27日下午，在深圳华强北电子市场，主营服务器一体机的程先 生给出了最新报价。记者询问的是一台搭载8张英伟达RTX 5090显卡的服务器，而在2025年12 月底，相同配置下，程先生的报价为30万元。 在不足1个月的时间里，单台服务器价格上涨了10万元，且此价格并非最终成交价。程先生报出 40万元价格后补充道："具体价格明天才能确定，现在配件那边已经下班，无法给出准确报价，内 存跟显卡的价格一直在涨，半天一价。" 剧烈的价格波动，使买卖双方都陷入尴尬境地。 作为卖方的存储芯片商家称，价格如今"一直在跳"，根本不敢囤货，"有些囤货的人在赌"；对于 买方而言，以往常见的"口头下单"已成为过去式，取而代之的是"报价仅当日有效"。 在付款方式上，商家提出的要求也愈发严苛：下单即付50%的定金，且必须在服务器出厂前付清 全款。 同为服务器商家的李小姐称，目前她不敢承接流程较长的公司订单，在漫长的合同流转与财务审批 期间，零部件价格的涨幅完全不可控，很可能合 ...

证券之星消息，1月28日元件板块较上一交易日下跌0.48%，科翔股份领跌。当日上证指数报收于 4151.24，上涨0.27%。深证成指报收于14342.9，上涨0.09%。元件板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002484 | 江海股份 | 32.03 | 5.33% | 50.25万 | | 15.91亿 | | 300814 | 中富电路 | 75.00 | 5.03% | 11.63万 | | 8.77亿 | | 300852 | 四会富仕 | 50.15 | 4.44% | 16.86万 | | 8.09亿 | | 300408 | 三环集团 | 52.34 | 2.51% | 1 37.20万 | | 19.63亿 | | 600183 | 生益科技 | 74.52 | 2.38% | 48.60万 | | 36.10亿 | | 000636 | 风华高科 | 21.43 | 1.90% | 68.00万 | | 14.62亿 | | ...

（文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵公司生产的电子元件是否供应到商业航天卫星 领域的公司？ 风华高科（000636.SZ）1月28日在投资者互动平台表示，公司控股子公司广东国华新材料科技股份有限 公司研发生产的微波陶瓷器件已应用于卫星终端，且通过了相关航天级认证并实现批量供货。 ...

每经AI快讯，有投资者在投资者互动平台提问：4.3亿元高端电阻生产基地项目进展如何？ 风华高科（000636.SZ）1月28日在投资者互动平台表示，4.3亿元高端电阻生产基地项目目前正有序推 进产能建设，项目建成后将实现高端片阻月产能新增100亿只，产品重点覆盖01005电阻、合金电阻、车 规级电阻、超低阻等高附加值品类。 （文章来源：每日经济新闻） ...

风华高科（000636）高盛——MLCC 当前产能利用率已超90% 1. 核心投资逻辑：村田制作所2027财年（截至2027年3月）盈利增长势头强劲，主要受益于片式多层陶瓷电容器 （MLCC）供需趋紧、价格企稳，以及非MLCC业务的利润改善。 MLCC业务占公司销售额超60%，当前产能利用率已超90%，受季节性需求及人工智能服务器需求进一步拉动，预 计2026年3-4月将接近满负荷运转，供需紧张将缓解价格下跌 2. 增长驱动力：人工智能服务器领域是关键增长点，预计其MLCC市场规模将以34%的复合年增长率扩张，服务器 功耗复合年增长率达37%，村田制作所相关电容器需求单位复合年增长率预计为30%。 非MLCC业务中，人工智能服务器电源供应（2026年量产，2027财年起销量爬坡，单个项目销售额目标500亿日 元）、射频模块、MetroCirc、二次电池等产品2027财年有望实现同比正贡献。 风华高科（000636）高盛——MLCC 当前产能利用率已超90% 1. 核心投资逻辑：村田制作所2027财年（截至2027年3月）盈利增长势头强劲，主要受益于片式多层陶瓷电容器 （MLCC）供需趋紧、价格企稳，以及非ML ...

开源证券发布研报称，2025年以来，多家被动元件头部企业宣布调涨产品价格，推动全球被动元件市场 进入新一轮上行周期。本轮被动元件涨价主要由上游金属原材料价格上涨和人力/电力等成本上涨驱 动，通胀因素占据主导，供需层面则维持正常水平，尚未表现出趋紧迹象。但是不同于以往消费电子需 求为主的周期，随着AI服务器、新能源汽车、工业控制等下游新兴领域需求快速增长，以及国内厂商 在高端品类的持续渗透，本轮被动元件产业上行周期有望更长、更有持续性。 松下：已向经销商/客户发出涨价通知，对30-40个型号规格的钽电容调涨15-30%，预计2026年2月1日起 生效。 风华高科（000636）：2025年11月发布涨价函，对电感磁珠类产品价格调升5%-25%，压敏电阻类产品 对银电极全系列调升10%-20%，瓷介电容类产品对银电极全系列产品价格调升10%-20%，厚膜电路类产 品价格调升15%-30%。 华新科：由于人力/电力/物料成本持续上升，自2026年2月1日起，将对电阻产品进行价格调整，调价覆 盖的尺寸范围包括从0201到1206的全阻值产品。 顺络电子（002138）：2025年12月底，顺络发布涨价通知表示将自20 ...

TrendForce数据显示，AI服务器主板的MLCC（片式电容）用量已达3000~4000颗，较传统服务器提升 超100%，其中耐高温型号占比高达85%。这一结构性变化不仅推高了MLCC产品单价，更导致行业供需 矛盾加剧。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 原材料涨价，被动元件巨头陆续宣布提价。 据媒体报道，又一家被动元件龙头企业宣布涨价。近日，华新科公告，将自2月1日起，针对尺寸为0201 至1206的全阻值范围电阻产品进行价格调整。业内人士普遍认为，华新科的涨幅可能不会低于国巨，预 计调整幅度会在20%左右。 此前，被动元件巨头国巨已向客户发出涨价通知，宣布将从今年2月1日起对部分电阻产品进行价格调 整，调涨幅度约为15%至20%。此外，松下宣布自2026年2月1日起对部分钽电容价格上涨15%至30%。 原材料涨价 从涨价原因来看，两家公司都表示，原材料上涨导致公司产品被动涨价。 华新科在涨价公告中表示，核心金属材料如银、钯、锡、铜等的市场波动使得成本压力加剧，虽然公司 努力吸收了一部分的成本，但随着新兴市场的快速发展和产能需求的持续增加，整体运营成本逐渐积 累。 ...

Core Insights - The strategic value of magnetic beads, essential for absorbing high-frequency noise and suppressing electromagnetic interference (EMI), is increasingly recognized in China's electronic information industry, with the market size projected to reach approximately 3.45 billion yuan in 2024, reflecting a year-on-year growth of 5.50% [1][8]. Industry Overview - Magnetic bead inductors are passive components designed to suppress high-frequency noise and EMI, operating based on hysteresis and eddy current losses in ferrite materials, converting high-frequency signal energy into heat rather than reflecting or storing it [3]. - The key applications include signal/power line filtering, RF circuits, and ultra-high-frequency memory circuits, particularly excelling in frequencies above 100 MHz [3]. Market Size - The market for magnetic bead inductors in China is expected to grow significantly, driven by the large-scale deployment of 5G infrastructure, rapid growth in new energy vehicle sales, and the penetration of IoT terminals in both consumer and industrial sectors [1][8]. Key Companies - Leading companies in the magnetic bead inductor industry include: - **Shunluo Electronics**: A leader in the industry, known for its micro magnetic beads and strong presence in high-end applications like AI servers and 5G communications [9][11]. - **Fenghua Advanced Technology**: Maintains a leading position in the general magnetic bead market, focusing on cost-effective products and continuous innovation [9][13]. - **Majie Technology**: Specializes in RF patch magnetic beads and has a strong competitive edge in communication and consumer electronics [9]. Industry Development Trends 1. **Technological Innovation**: The industry is moving towards "high frequency, miniaturization, and integration" to meet the demands of 5G and AI technologies, with a focus on developing high-performance low-loss soft magnetic materials [14]. 2. **Market Demand Shift**: The growth drivers are shifting from consumer electronics to high-end strategic markets, particularly in new energy vehicles and AI infrastructure, which require high reliability and low-loss performance [14]. 3. **Evolving Industry Ecosystem**: Competition is transitioning from product-based to collaborative supply chain competition, with leading companies focusing on vertical integration and collaboration with upstream material suppliers to enhance product performance and stability [15].

Market Overview - The component sector experienced a decline of 0.19% on January 19, with Jingwang Electronics leading the drop [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] Top Gainers in the Component Sector - Huazheng New Materials (603186) saw a closing price of 63.81, with a significant increase of 10.00% and a trading volume of 164,700 shares, totaling a transaction value of 1.025 billion [1] - Jin'an Guoji (002636) closed at 20.37, up 9.99%, with a trading volume of 306,300 shares and a transaction value of 616 million [1] - Tongfeng Electronics (600237) increased by 7.00% to close at 10.86, with a trading volume of 811,800 shares [1] Top Losers in the Component Sector - Jingwang Electronics (603228) closed at 68.60, down 4.62%, with a trading volume of 293,900 shares [2] - Dongshan Precision (002384) decreased by 3.14% to close at 77.81, with a trading volume of 406,700 shares [2] - Shengyi Electronics (688183) saw a decline of 2.93%, closing at 95.00, with a trading volume of 135,100 shares [2] Capital Flow Analysis - The component sector experienced a net outflow of 506 million from main funds, while retail investors saw a net inflow of 488 million [2][3] - Notable net inflows from retail investors were observed in several companies, including Xingsen Technology (002436) with a net inflow of 34.3 million [3] - Jin'an Guoji (002636) had a significant retail net inflow of 183 million, despite a main fund outflow of 92.6 million [3]

Core Viewpoint - The passive components industry, particularly capacitors and resistors, is expected to experience a price increase due to rising raw material costs and accelerated AI application deployment [1]. Group 1: Price Increases - Yageo has announced a price increase of 15%-20% for certain resistor products starting February 1, driven by significant wafer cost increases [1]. - Panasonic will also raise prices for some tantalum capacitors by 15%-30% starting February 1, 2025 [4]. - Windfall High-Tech has adjusted prices for various products, including inductors and varistors, due to ongoing raw material price increases [5]. Group 2: Market Reactions - On January 16, 2025, A-share passive component stocks saw notable price increases, with Windfall High-Tech rising by 6.8%, Jiemai Technology by 7.19%, and others following suit [1]. - The price adjustments reflect a broader trend in the industry, with Yageo having frequently raised prices for multiple passive components since mid-2025 [3]. Group 3: Cost Factors - The primary driver for the price increases in passive components is the pressure from rising raw material costs, including metals like silver, copper, and others [6][7]. - Silver prices have surged significantly, with a year-on-year increase of 201%, contributing to the cost pressures faced by manufacturers [8]. Group 4: Future Outlook - The continuation of price increases in passive components will largely depend on supply and demand dynamics, particularly driven by AI applications and automotive electronics [9]. - Current observations indicate that there has not yet been a noticeable impact on consumer electronics from rising storage prices [10].