Market Overview - On January 14, the A-share major indices rose in early trading, with the Shanghai Composite Index up by 0.77%, the Shenzhen Component Index and the ChiNext Index both increasing by over 1%, and the Sci-Tech Innovation Board Index rising by over 2% [1][6] - The precious metals sector led the gains, while the commercial aerospace sector experienced the largest declines [1][6] Sector Performance - The AI e-commerce and GEO concepts showed strong performance, with Liou Co., Ltd. (002131) achieving a four-day consecutive rise, Sanjiang Shopping (three-day consecutive rise), and both Guangyun Technology and Zhidema reaching the daily limit [1][6] - The storage chip sector saw significant fluctuations, with Baiwei Storage rising over 10% during trading, and companies like Guokai Microelectronics, Jiangbolong, Demingli, and Lankai Technology also experiencing gains [4][8] Notable Stocks - Baiwei Storage (佰维存储) rose by 9.93% to 148.82, Guokai Microelectronics (国科微) increased by 9.29% to 133.44, and Jiangbolong (江波龙) rose by 3.77% to 286.90 [5][9] - Other notable stocks included Blue Arrow Electronics (蓝箭电子) up by 9.14%, and Demingli (德明利) up by 3.56% [5][9] Strategic Partnerships - Google announced a collaboration with Walmart and other major retailers to introduce AI shopping features on its Gemini platform [3][8]

（文章来源：每日经济新闻） 每经AI快讯，1月14日，存储器指数强势拉升，成分股表现亮眼，佰维存储涨停，江波龙上涨4.81%， 德明利上涨3.97%，北京君正上涨3.42%，恒烁股份上涨3.38%。 ...

Market Overview - Major indices showed declines: Shanghai Composite Index (-0.64%), Shenzhen Component Index (-1.37%), ChiNext Index (-1.96%), North Star 50 (-2.50%), and Sci-Tech Innovation 50 (-2.80%) [1] - TMT sector led the gains with SW Portal (+6.79%), SW Marketing Agency (+2.49%), and SW Gaming III (+0.40%) [1] - TMT sector faced losses with SW Military Electronics III (-5.41%), SW Communication Terminals and Accessories (-5.34%), and SW Communication Cables and Accessories (-5.20%) [1] Domestic News - XREAL announced a strategic partnership with ASUS ROG to launch the ROG XREAL R1 AR glasses, featuring micro OLED technology with a resolution of 1920 x 1080 and a virtual screen equivalent to 171 inches at 4 meters [2] - Jiangbolong reported that its self-developed UFS4.1 product outperforms market counterparts in process, read/write speed, and stability, gaining recognition from major clients [2] - Yongxi Electronics plans to invest 2.1 billion yuan in a packaging base in Malaysia, focusing on system-level packaging products for AIoT and power modules [2] - Sanan Optoelectronics disclosed that its SiC MOSFET products have begun bulk supply to leading global power manufacturers, targeting data centers and AI servers [2] Overseas News - SK Hynix is investing in its advanced packaging plant P&T7 to meet global AI storage demand, with the plant expected to play a crucial role in commercializing DRAM as HBM [3] - A collaboration between the University of Cambridge and a German research team has led to the successful development of stable and high-performance cubic InGaN materials for red Micro-LED devices [3] - Counterpoint Research forecasts a 2% year-on-year growth in global smartphone shipments in 2025, driven by high-end demand and emerging market growth, with Apple leading the market at a 20% share [3] - The Indian Space Research Organization (ISRO) faced a setback with the PSLV-C62 rocket losing all 16 satellites during its third phase of flight [3] AI News - Apple and Google have announced a multi-year partnership to develop the next generation of Apple Foundation Models based on Google's Gemini model and cloud technology [4] - Zhipu AI and Didi Chuxing have formed a strategic partnership focusing on the development of intelligent agents for transportation scenarios [4] - Tencent Research Institute and Midjourney have launched the Niji v7 anime-specific model, enhancing details and stability for anime-style creations [4] - Nvidia and Eli Lilly are investing $1 billion to establish an AI lab aimed at accelerating drug discovery and personalized treatment [4] Industry Tracking - The FCC has approved SpaceX to launch an additional 7,500 second-generation Starlink satellites, bringing the total approved to 15,000 [5] - The Eighth Research Institute of China Shipbuilding Group has developed a low-vibration helium re-liquefaction system for high-precision instruments [5] - The National Medical Products Administration of China plans to establish standards for medical devices using brain-computer interface technology [5] - LimX Dynamics has released a new embodied intelligent system that allows for dynamic task adjustments during operation [5] Storage Market - The average price of DDR5 16G (2G×8) 4800/5600 DRAM is reported at $33.563, with a 3.27% increase [6] - The average price of DDR4 16Gb (2G×8) 3200 DRAM is reported at $73.500, with a 2.80% increase [6] Semiconductor Material Prices - The average price for 4N zinc oxide powder is reported at 1,465 yuan/kg, with a daily change of 20 yuan [7] - The average price for 5N high-purity zinc is reported at 6,300 yuan/kg, with no daily change [7]

1 月 12 日，江波龙（301308.SZ）在投资者关系活动中披露核心业务进展，公司 mSSD 产品凭借创新封装技术构建成本优势，UFS4.1 产品获头部客户认 可加速导入，同时看好 AI 驱动下存储行业上行周期的持续性。 1 月 12 日，江波龙（301308.SZ）在投资者关系活动中披露核心业务进展，公司 mSSD 产品凭借创新封装技术构建成本优势，UFS4.1 产品获头部客户认 可加速导入，同时看好 AI 驱动下存储行业上行周期的持续性。 公司 mSSD 产品采用 Wafer 级系统级封装（SiP）技术，将主控、NAND、PMIC 等核心元件一次性整合进单一封装体，彻底省去 PCB 贴片、回流焊等多 道 SMT 环节及跨厂转运流程。这一创新使产品交付效率提升 1 倍以上，综合附加成本下降超 10%，同时将原本 PCBA SSD 近千个焊点缩减至零，故障率 （DPPM）从≤1000 降至≤100，质量等级跃升至芯片封装级别。 公司 mSSD 产品采用 Wafer 级系统级封装（SiP）技术，将主控、NAND、PMIC 等核心元件一次性整合进单一封装体，彻底省去 PCB 贴片、回流焊等多 道 SMT 环节 ...

证券代码：301308 证券简称：江波龙 公告编号：2026-002 深圳市江波龙电子股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别风险提示： 深圳市江波龙电子股份有限公司（以下简称"公司"）提供的担保总额超过 公司最近一期经审计净资产的 100%，其中对资产负债率超过 70%的单位的担保 总额超过公司最近一期经审计净资产 50%，前述担保全部为公司对合并报表范围 内子公司的担保，敬请投资者充分关注担保风险。 一、担保情况概述 公司于 2025 年 3 月 19 日、2025 年 4 月 11 日分别召开了第三届董事会第八 次会议、第三届监事会第八次会议以及 2024 年年度股东大会，会议审议通过了 《关于公司 2025 年度担保额度预计的议案》。 为了满足公司 2025 年度日常经营及业务发展所需，自 2024 年年度股东大会 审议通过之日起至 2025 年年度股东会召开之日止，公司拟为子公司向银行等金 融机构申请综合授信或其他日常经营所需，提供总额不超过人民币 110 亿元（或 等值外币）的担保额度。 其 ...

Investment Strategy - The report emphasizes focusing on FAB and storage manufacturers that are expanding production and the recovery cycle of analog chips [3] - Longxin plans to raise 29.5 billion yuan, while SMIC Southern will receive a total cash contribution of 7.778 billion USD from shareholders [3] - Recommended companies include SMIC, Hua Hong Semiconductor, Zhongwei Company, and others [3] Market Trends - Microchip CEO noted a broad recovery in multiple end markets, with initial orders for the new quarter significantly better than the same period last year [3] - The storage demand is driven by AI, with prices still in an upward cycle; TrendForce predicts a 55-60% increase in general DRAM contract prices for Q1 2026 [3][30] Company Performance - The semiconductor index rose by 4.47% in December 2025, underperforming the electronics sector by 0.69 percentage points but outperforming the CSI 300 index by 2.19 percentage points [8] - Notable stock performances included Micron Technology (+20.74%) and Microchip Technology (+18.92%) [10] Semiconductor Sales Data - Global semiconductor sales reached 75.28 billion USD in November 2025, marking a year-on-year increase of 29.8% [26] - China’s semiconductor sales accounted for 26.9% of the global total, with a year-on-year growth of 15% [36] Price Trends in Storage - DRAM and NAND Flash contract prices increased in November, with DRAM prices rising from 7.00 USD to 8.10 USD and NAND Flash prices from 5.19 USD to 4.35 USD [30] - Predictions indicate a 55-60% increase in general DRAM contract prices and a 33-38% increase in NAND Flash prices for Q1 2026 [30][32]

（记者 王晓波） 每经头条（nbdtoutiao）——年产量是传统大田120倍以上，1个人管理1栋楼！实探中国"植物工厂"：水 稻生产期从120天减到60天，没有虫害不用打农药 每经AI快讯，江波龙发布公告称，2026年1月8日，江波龙接受博时基金等投资者调研，公司投资者关 系经理黄琦、投资者关系资深主管苏阳春参与接待，并回答了投资者提出的问题。 ...

Core Viewpoint - Jiangbolong's UFS4.1 is positioned as a high-end consumer storage product, preferred by Tier 1 clients for flagship smart terminal models, indicating significant market potential [1] Group 1: Product Development - UFS4.1 is currently developed by only a few companies at the chip level, showcasing a competitive edge in the market [1] - The company’s self-developed UFS4.1 product outperforms comparable market products in terms of process, read/write speed, and stability [1] Group 2: Market Recognition - The UFS4.1 product has received recognition from major storage manufacturers like SanDisk and several Tier 1 clients, indicating strong market acceptance [1] - The product introduction process is accelerating, suggesting a positive outlook for market penetration [1]

Group 1: Product Innovations - The mSSD product utilizes Wafer-level System-in-Package (SiP) technology, integrating multiple components into a single package, which significantly reduces manufacturing costs by eliminating several SMT processes [3] - mSSD offers a compact design that meets low power consumption requirements while maintaining performance levels comparable to traditional SSDs, indicating a broad market potential [3] - The UFS4.1 product is positioned as a high-end storage solution for Tier 1 customers, with limited global competition in chip-level development, enhancing its market prospects [3] Group 2: Market Trends and Demand - The current storage upcycle is expected to be driven by increased demand for SSDs from cloud service providers due to AI technology applications and a shortage of HDD supply [3] - The transition from HDD to SSD by cloud service providers is anticipated to significantly boost NAND Flash demand, although capacity expansion may lag behind this demand [3] - Future capital expenditure increases from manufacturers may have limited impact on output growth in 2026 due to the inherent delays in capacity construction [3] Group 3: Investor Relations Activity - The investor relations activity took place on January 8, 2026, with participation from several investment firms, indicating strong interest in the company's developments [2] - The meeting was led by the Investor Relations Manager and a Senior Supervisor, highlighting the company's commitment to transparent communication with investors [2] - No undisclosed significant information was involved in this activity, ensuring compliance with disclosure regulations [3]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, specifically focusing on NAND and SSD sectors driven by AI demand [6]. Core Insights - AI applications are expected to drive a rapid increase in SSD usage, leading to a prolonged boom cycle for both SSD and NAND markets [3][10]. - The global data volume is projected to grow significantly, with active data becoming a larger portion due to AI model applications [19][31]. - The demand for SSDs is anticipated to rise sharply as they meet the high throughput requirements for active data in data centers, surpassing traditional HDDs [10][34]. Summary by Sections 1. AI - The application of AI models is expected to significantly increase the proportion of active data, transforming previously dormant data into frequently accessed data [21][22]. - By 2030, it is estimated that 100% of hot data will be stored on SSDs, reflecting a shift in data storage paradigms [22]. 2. SSD - SSDs are favored for their high read/write speeds and ability to handle high workloads, making them suitable for active data storage in data centers [34][40]. - The power efficiency of SSDs is a significant advantage, especially as data center power demands increase [48][51]. - AI training and inference are driving the development of AI SSDs, which require high performance, large capacity, and energy efficiency [54][56]. 3. NAND - The NAND market is expected to experience a prolonged period of supply-demand imbalance, with limited capital expenditure from leading manufacturers [10][11]. - The concentration of the global NAND market is high, with major players like Samsung, Micron, and SK Hynix focusing on high-bandwidth memory (HBM) rather than expanding NAND production [10][11]. 4. Enterprise SSD - The report highlights several key companies in the semiconductor and storage sectors that are well-positioned to benefit from the ongoing trends, including domestic semiconductor equipment manufacturers and storage module companies [3][13].