Core Viewpoint - The article highlights the remarkable growth of Jiangbolong, a semiconductor storage company, which has transformed from a small stall in Huaqiangbei to a billion-dollar enterprise, capitalizing on the cyclical nature of the storage industry and the recent surge in demand driven by AI technologies [4][6][42]. Group 1: Market Trends and Price Changes - In 2025, gold prices increased by 65%, copper by 42%, and silver by 147.8%, but the price of memory modules surged by 300%, with a 256GB DDR5 memory module exceeding 40,000 yuan [5][6]. - The semiconductor storage market has experienced significant price increases since the second half of 2025, with DRAM prices expected to rise by approximately 46.9% and NAND Flash prices by about 56.6% [39][41]. Group 2: Company Growth and Strategy - Jiangbolong's market capitalization reached 150.6 billion yuan in March 2026, making it the largest independent storage manufacturer in China and the second globally, with the founders' wealth increasing by 40 billion yuan to over 60 billion yuan [6][41]. - The company transitioned from a trading model to manufacturing, focusing on developing its own brand, FORESEE, which successfully penetrated the enterprise market [20][27]. - In 2017, Jiangbolong acquired the high-end consumer storage brand Lexar from Micron Technology, significantly boosting its market presence and revenue [27][28]. Group 3: Strategic Initiatives - Jiangbolong has invested heavily in R&D, increasing its budget from 219 million yuan to 910 million yuan between 2020 and 2024, and expanding its technical staff from 501 to 1,177 [33]. - The company has adopted a dual strategy of "building high walls" through patent acquisition and "storing grain" by increasing inventory levels to mitigate cyclical risks [36][37]. - By the end of Q3 2025, Jiangbolong's inventory reached 8.517 billion yuan, surpassing competitors by over 30%, indicating a proactive approach to managing supply chain dependencies [36]. Group 4: Future Outlook - The article anticipates that Jiangbolong will benefit from the upcoming price surge in the storage industry, driven by the explosive demand for storage chips in AI applications, positioning the company for continued growth [39][41]. - The founders' vision of making Jiangbolong a top player in the global storage market is on track, with projected revenues for 2025 estimated between 22.5 billion and 23 billion yuan, reflecting a year-on-year increase of 150.66% to 210.82% [41].

Group 1: Market Trends and Opportunities - The global storage manufacturers are shifting their focus towards the enterprise market, leading to structural adjustments and ongoing supply shortages in the semiconductor storage industry. Micron has announced a halt in the development of future mobile NAND products, reshaping the competitive landscape of the consumer storage market [3]. - Despite supply shortages and rising prices, there remains demand for consumer storage, particularly in AI and mid-to-high-end smart terminal devices. The company aims to leverage this opportunity by focusing on technology upgrades and enhancing its product offerings, particularly in high-end consumer storage [3]. Group 2: Business Strategy and Performance - The company ranks third in total capacity for enterprise SATA SSDs in China as of the first half of 2025, and first among domestic brands, according to IDC data. The company is focusing on high-value, high-tech barrier projects and deepening collaborations with well-known clients in various fields [3]. - The company has developed a product matrix for automotive-grade storage, including UFS, eMMC, LPDDR, and USB, and has achieved key industry certifications such as AEC-Q100 and IATF 16949, allowing entry into the supply chains of major automotive manufacturers [4]. Group 3: Future Growth in Automotive Storage - The automotive sector is expected to experience rapid growth in automotive-grade storage, driven by the development of smart vehicles and autonomous driving technologies. The company is well-positioned in this market, having entered early and established a comprehensive product offering [4].

证券代码：301308 证券简称：江波龙 公告编号：2026-024 深圳市江波龙电子股份有限公司关于公司 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。 ...

Core Viewpoint - The article highlights the significant price increases in various commodities, particularly in the semiconductor storage market, where memory prices have surged dramatically, with Shenzhen Jiangbolong emerging as a key player in this trend [2][4][49]. Group 1: Market Trends - By 2025, gold prices are expected to rise by 65%, copper by 42%, and silver by 147.8%, but memory prices have skyrocketed by 300% [2][3]. - The semiconductor storage market has seen substantial price increases since the second half of 2025, with Jiangbolong's market value reaching 150.6 billion yuan, making it the top independent storage manufacturer in China and second globally [4][49]. Group 2: Company History and Development - Jiangbolong was founded in 1999 by siblings Cai Huabo and Cai Lijiang, starting from a small counter in Huaqiangbei, focusing on the trade of storage products [9][10]. - The company initially faced the cyclical nature of the storage industry, experiencing both significant profits and losses due to market fluctuations [11][16]. Group 3: Strategic Shifts - After experiencing the volatility of the storage market, Jiangbolong shifted from a trading model to manufacturing, emphasizing the importance of having its own brand and production capabilities [17][20]. - In 2011, Jiangbolong launched its own brand, FORESEE, targeting the enterprise market and achieving significant recognition [23][25]. Group 4: Mergers and Acquisitions - In 2017, Jiangbolong acquired the high-end consumer storage brand Lexar from Micron Technology, significantly increasing its market presence and revenue [27][28]. - Following the acquisition, Jiangbolong's revenue surged from 4.228 billion yuan to 9.74 billion yuan over four years, marking a growth of over 130% [29]. Group 5: Future Outlook - Jiangbolong aims to become one of the top three storage brands globally, with plans to enhance revenue and profit through strategic investments and acquisitions [30][31]. - The company has increased its R&D investment significantly, from 219 million yuan to 910 million yuan between 2020 and 2024, and expanded its technical workforce [37][39]. - By the end of Q3 2025, Jiangbolong's inventory reached 8.517 billion yuan, positioning the company to better withstand market fluctuations [42].

Core Viewpoint - The article highlights the remarkable growth of Jiangbolong, a semiconductor storage company that emerged from Huaqiangbei, showcasing its journey from a small trading business to a major player in the global storage market, driven by strategic shifts and market dynamics [3][6][51]. Group 1: Market Dynamics - In 2025, significant price increases were observed in various commodities, with gold rising by 65%, copper by 42%, and silver by 147.8%, but the most notable was the 300% increase in memory prices [3][4]. - The semiconductor storage market experienced substantial price hikes starting in the second half of 2025, with DRAM prices expected to rise by approximately 46.9% and NAND Flash prices by about 56.6% [5][49]. Group 2: Company Growth and Strategy - Jiangbolong's market capitalization soared to 150.6 billion yuan in March 2026, making it the largest independent storage manufacturer in China and the second globally, with the founders' wealth increasing significantly [6][51]. - The company transitioned from a trading model to manufacturing, driven by the need to mitigate risks associated with market volatility and to establish a competitive edge through proprietary technology [18][23]. Group 3: Historical Context and Founding - The founders, Cai Huabo and Cai Lijiang, started Jiangbolong in 1999 from a small booth in Huaqiangbei, initially focusing on trading storage products [10][11]. - The company faced significant challenges due to the cyclical nature of the storage industry, which is characterized by unpredictable demand and supply mismatches, often referred to as the "pig cycle" [12][14]. Group 4: Strategic Shifts and Innovations - Jiangbolong adopted a strategy of private label manufacturing to buffer against market fluctuations, which proved successful during the 2008 financial crisis [20]. - The launch of the brand FORESEE in 2011 marked a significant milestone, allowing Jiangbolong to penetrate the enterprise market and secure large orders from major companies [25][27]. Group 5: Mergers and Acquisitions - In 2017, Jiangbolong acquired the high-end consumer storage brand Lexar from Micron Technology, a move that significantly boosted its market presence and revenue [28][30]. - Following the acquisition, Jiangbolong's revenue surged from 4.228 billion yuan to 9.74 billion yuan over four years, reflecting the success of its strategic initiatives [30]. Group 6: Future Outlook and Challenges - Jiangbolong aims to become one of the top three storage brands globally, necessitating continuous revenue and profit growth amidst industry challenges [31][34]. - The company is focusing on building a robust supply chain and increasing its inventory to mitigate risks associated with market volatility, with stock levels reaching 8.517 billion yuan by Q3 2025 [45].

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。 公司于 2026 年 3 月 2 日、2026 年 3 月 19 日分别召开了第三届董事会第十 六次会议、2026 年第一次临时股东会，会议审议通过了《关于公司 2025 年度新 增对子公司担保额度的议案》，在上述 2024 年年度股东大会审议通过的 ...

2026年第一次临时股东会的 法律意见书 二〇二六年三月 北京市中伦（深圳）律师事务所 关于深圳市江波龙电子股份有限公司 北京市中伦（深圳）律师事务所 关于深圳市江波龙电子股份有限公司 2026 年第一次临时股东会的 法律意见书 致：深圳市江波龙电子股份有限公司 北京市中伦（深圳）律师事务所（以下简称"本所"）受深圳市江波龙电子 股份有限公司（以下简称"公司"）委托，指派陈元婕律师、郭子威律师出席并 见证公司 2026 年第一次临时股东会（以下简称"本次股东会"），并依据《中 华人民共和国公司法》《中华人民共和国证券法》《上市公司股东会规则》（以 下简称"《股东会规则》"）以及《深圳市江波龙电子股份有限公司章程》（以 下简称"《公司章程》"）等有关规定，就本次股东会的召集、召开程序、出席 现场会议人员的资格、召集人资格、会议表决程序及表决结果等事项出具本法律 意见书。 本所律师仅依据本法律意见书出具之前所发生的事实，并基于对该等事实的 认识以及对相关法律、法规以及《公司章程》的理解出具本法律意见书。本法律 意见书不涉及本次股东会议案内容以及此间所涉及事实的真实性、准确性。 本所律师同意将本法律意见书作为本次股 ...

证券代码：301308 证券简称：江波龙 公告编号：2026-021 深圳市江波龙电子股份有限公司 2026 年第一次临时股东会决议公告 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。 特别提示 1、 本次股东会不存在否决议案的情形。 2、 本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开情况 （一）召开时间：2026 年 3 月 19 日（星期四）14:45； （二）召开地点：深圳市前海深港合作区南山街道听海大道 5059 号鸿荣源 前海金融中心二期 B 座 23 楼； （三）召开方式：现场投票结合网络投票； （四）召集人：董事会； （五）主持人：董事长蔡华波先生； （六）本次会议的召集、召开符合《中华人民共和国公司法》《上市公司股 东会规则》（以下简称"《股东会规则》"）《深圳证券交易所创业板股票上市规则》 等有关法律、行政法规、部门规章、规范性文件和《深圳市江波龙电子股份有限 公司章程》（以下简称"《公司章程》"）的有关规定。 二、会议出席情况 （一）股东出席的总体情况 参加本次股东会现场会议和网络投票表决的股东及股东代理人共 938 人，代 ...

证券代码：301308 证券简称：江波龙 公告编号：2026-023 深圳市江波龙电子股份有限公司 关于董事、高级管理人员减持股份预披露公告 本公司董事李志雄先生、副总经理高喜春先生保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、持有深圳市江波龙电子股份有限公司（以下简称"公司"）股份 18,908,548 股（占公司总股本比例为 4.5112%）的公司董事李志雄先生，计划在 2026 年 4 月 13 日至 2026 年 7 月 12 日期间通过证券交易所以集中竞价、大宗交易方式合 计减持公司股份不超过 2,400,000 股（占公司总股本比例为 0.5726%）。 2、持有深圳市江波龙电子股份有限公司（以下简称"公司"）股份 91,944 股（占公司总股本比例为 0.0219%）的公司副总经理高喜春先生，计划在 2026 年 4 月 13 日至 2026 年 7 月 12 日期间通过证券交易所以集中竞价、大宗交易方 式合计减持公司股份不超过 22,986 股（占公司总股本比例为 0.00 ...

Core Insights - The storage industry chain is a critical pillar of the semiconductor industry, supporting various high-growth sectors such as AI servers, automotive electronics, industrial control, IoT, and cloud computing [1] - The domestic storage industry chain is experiencing a surge in orders across leading enterprises, with many companies seeing order volumes exceeding 10 billion, indicating a strong growth trajectory and a rapid pace of domestic substitution [1] Company Summaries Giantec (聚辰股份) - Founded in 2009, Giantec specializes in non-volatile storage chips and mixed-signal chips, with a global customer base [2] - Core products include DDR5 SPD chips and EEPROM chips, with a focus on high reliability for automotive and industrial applications [3] - Holds over 40% global market share in DDR5 SPD chips and ranks first in the domestic EEPROM market, benefiting from the AI server upgrade cycle with orders extending to Q1 2027 [4] Dosilicon (东芯股份) - Established in 2014, Dosilicon focuses on small to medium capacity storage chips, providing comprehensive solutions including NAND, NOR, and DRAM [5] - Main products include SLC NAND and SPI NOR Flash chips, with a complete range of automotive-grade certifications [6] - Holds over 30% market share in domestic SLC NAND, with orders extending to the end of 2026, driven by surging demand in industrial and automotive sectors [8] Ingenic (北京君正) - Founded in 2005, Ingenic is a leader in CPU and storage chips, with a strong focus on high-performance, low-power solutions for smart hardware and automotive electronics [9] - Key products include automotive-grade SRAM and DRAM chips, all meeting stringent automotive standards [10] - Holds approximately 29% global market share in automotive SRAM, with a strong order pipeline extending to the end of 2026 [11] Biwin (佰维存储) - Established in 2010, Biwin integrates R&D, packaging, testing, and sales of storage solutions, focusing on AI and embedded storage [12] - Core products include embedded storage and consumer-grade SSDs, with the ePOP module leading the global market [13] - Positioned as a leader in AI storage, with orders extending to Q1 2026, benefiting from the rapid adoption of AI devices [14] TFME (通富微电) - Founded in 1994, TFME is a leading integrated circuit packaging and testing company, providing a one-stop service from design to testing [15] - Core business includes packaging and testing for storage chips and AI accelerators, with advanced packaging technologies in mass production [17] - As a key partner for AMD, the company has a robust order pipeline extending through 2026, driven by high demand for advanced packaging [18] JCET (长电科技) - Established in 1972, JCET is a global leader in integrated circuit manufacturing and services, focusing on advanced packaging for storage chips [19] - Key products include HBM3 packaging with a high yield rate of 98.5%, serving major storage companies [20] - Orders extend to Q2 2028, benefiting from the surge in AI computing and advanced packaging demand [21] Naura (北方华创) - Founded in 2001, Naura specializes in semiconductor equipment, covering 80% of the front-end process equipment [22] - Core products include etching and deposition equipment, with significant involvement in domestic storage wafer expansion [23] - Orders extend to 2027, driven by the acceleration of domestic equipment substitution [24] Longsys (江波龙) - Established in 1999, Longsys is a leading semiconductor storage brand, focusing on enterprise, industrial, and consumer storage solutions [25] - Core products include enterprise-grade NVMe SSDs and DDR5 RDIMM modules, catering to AI server demands [26] - Orders extend to the end of 2026, supported by strong demand from domestic cloud service providers [27] Montage (澜起科技) - Montage is a leading data processing and interconnect chip design company, focusing on memory interface chips [28] - Core products include memory interface solutions from DDR2 to DDR5, with a strong market position in AI server applications [29] - Orders extend to Q1 2027, benefiting from the AI computing boom [30] GigaDevice (兆易创新) - Founded in 2005, GigaDevice is a top player in storage chip design, with a focus on NOR Flash and niche DRAM [31] - Core products include NOR Flash with approximately 19% global market share, and a strong presence in automotive and industrial storage [33] - Orders extend to the end of 2026, supported by the growing demand for AI servers and IoT devices [34]