证券代码：301308 证券简称：江波龙 公告编号：2026-012 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 ...

Core Viewpoint - The article discusses the significant price surge in storage products, particularly memory chips, driven by increased demand from the AI sector, leading to substantial profits for major manufacturers like SK Hynix and Micron [3][5][10]. Group 1: Price Surge in Storage Products - The average price of memory has increased by 344%, with DDR5 memory prices rising over 300% since September 2025, and DDR4 memory prices increasing by more than 150% [6]. - HDD prices have risen by approximately 50% in four months, with some models seeing increases of up to 66%. SSD prices have surged by around 75%, with 1TB SSD prices jumping from about $60 at the end of 2024 to over $144 in early 2026, a rise of more than 140% [6][7]. - High-end storage products like HBM and DDR5 have seen the most significant price increases, while lower-end products like DDR4 and HDD have also experienced notable price hikes [7]. Group 2: Manufacturer Strategies and Market Dynamics - Major manufacturers, including Samsung, SK Hynix, and Micron, have shifted production capacity towards high-performance storage products for AI servers, significantly reducing capacity for consumer-grade products. Micron has even ceased sales of consumer-grade storage products entirely [8]. - The "controlled quantity price increase" strategy employed by these manufacturers has effectively allowed them to raise prices, as they control over 93% of the global DRAM market [8][9]. - Samsung and SK Hynix plan to increase server DRAM prices by 60%-70% in the first quarter of 2026 compared to the fourth quarter of 2025 [9]. Group 3: Stock Market Impact - Micron's stock price has surged from around $60 in April 2025 to approximately $365, representing a nearly 500% increase [10]. - In South Korea, the KOSPI index has risen from 2284 points in April 2025 to 4935 points recently, a gain of 116%, largely driven by the stock performance of Samsung and SK Hynix [14]. - The article notes that the average profit for South Korean investors has doubled over the past year due to the storage product price boom [16]. Group 4: A-Share Market Performance - Since the price surge in storage products began in the third quarter of last year, several A-share companies have seen significant stock price increases, including Baiwei Storage (up 85%), Demingli (up 274%), Jiangbolong (up 185%), and Shannon Chip (up 408%) [18][19]. - Baiwei Storage expects a net profit of 850 million to 1 billion yuan in 2025, a year-on-year increase of 427.19% to 520.22% [21]. - The demand for memory interconnect chips has also surged, with companies like Lanke Technology projecting a net profit of 2.15 billion to 2.35 billion yuan in 2025, a year-on-year increase of 52.29% to 66.46% [22].

Core Viewpoint - The article highlights the increasing importance of storage solutions in the automotive industry, particularly in the context of smart vehicles and the growing demand for AI capabilities, which is leading to a supply crisis in automotive-grade storage components [1][3][19]. Group 1: Market Dynamics - Starting from the second half of 2025, the surge in AI computing infrastructure is igniting a cycle of price increases and shortages in the storage market [1]. - The automotive sector is facing a "storage crisis" due to the rising demand for AI in smart cockpits and advanced driver-assistance systems, coupled with a global shift of suppliers towards AI production [1][3]. - The cost of automotive-grade memory is skyrocketing, with quarterly increases reported as high as 50%, and some forecasts predicting that the supply satisfaction rate for automotive-grade storage could fall below 50% by 2026 [1][4]. Group 2: Storage Requirements in Smart Vehicles - The demand for storage in smart vehicles has evolved from basic functions to becoming a critical component for real-time data processing from various sensors, making it essential for the development of software-defined vehicles (SDVs) [3][4]. - High-end smart vehicles typically require 4-16 DRAM chips and 2-6 NAND Flash chips, with costs rising from $40-90 in early models to $90-220 in current mid-to-high-end models, and potentially exceeding $500 for advanced models [4][7]. Group 3: Competitive Landscape - The disparity in capabilities among storage suppliers is evident, with many only able to provide consumer-grade storage that does not meet the stringent requirements of automotive applications [1][10]. - Jiangbolong, a company with seven years of experience in automotive-grade storage, is positioned to fill this critical gap by transitioning from a background player to a front-line provider [1][19]. Group 4: Jiangbolong's Strategic Positioning - Jiangbolong has developed a comprehensive range of automotive-grade storage products, having established deep partnerships with over 20 OEMs and 50 Tier 1 automotive clients, ensuring high market recognition and collaboration [8][19]. - The company has implemented a dual business model (TCM and PTM) to enhance supply chain stability and provide customized solutions, addressing the challenges posed by the current supply crisis [10][13][16]. Group 5: Future Outlook - The rise of edge AI is transforming the role of storage in vehicles, making it a vital component for processing vast amounts of sensor data in real-time [19][20]. - Jiangbolong aims to leverage its proprietary technology and collaborative ecosystem to ensure a stable supply of high-performance storage solutions, even as demand shifts towards data centers [19][20].

Core Viewpoint - The increasing trend of funds focusing on inquiry transfer projects, which offer shorter cycles and greater discounts, is aimed at enhancing capital utilization efficiency [1]. Group 1: Market Trends - Since 2026, 12 listed companies have conducted inquiry transfers, with notable participation from well-known public and private fund institutions such as E Fund, Huaxia Fund, and Nord Fund [1][2]. - The inquiry transfer of Guangdong Wannianqing Pharmaceutical Co., Ltd. involved a maximum transfer of 8 million shares at a price of 18.80 CNY per share, reflecting a discount rate of 91.66% compared to the closing price on the pricing benchmark date [2][3]. Group 2: Participant Analysis - Private and public funds are the main participants in inquiry transfers, with private funds having the highest subscription frequency from 2020 to 2025, totaling 577 times [3]. - Public funds led with 82 subscriptions among licensed financial institutions, followed by QFII and securities companies with 43 and 60 subscriptions, respectively [3]. Group 3: Performance Metrics - As of February 11, 2026, 11 out of 12 companies that conducted inquiry transfers had stock prices above the initial transfer price, with some institutions achieving floating profits exceeding 30% [4]. - For example, Jiangbolong's inquiry transfer price was 212.09 CNY per share, while its stock price reached 284.14 CNY, resulting in a floating profit rate of approximately 34% [4]. Group 4: Comparative Analysis with Private Placements - Inquiry transfers have shown superior returns and discount performance compared to private placements, with an average return of 49.52% for inquiry transfers in 2025, surpassing the 38.61% return from competitive private placements [4][5]. - The number of companies conducting inquiry transfers increased from 12 in 2021 to 180 in 2025, indicating a growing acceptance of this method [5]. Group 5: Strategic Insights - Inquiry transfers and private placements complement each other by offering different risk-return profiles, attracting various investment strategies [5]. - The focus on sectors such as semiconductors, AI hardware, and domestic software is expected to enhance the visibility and growth certainty of leading companies, making their equity attractive assets [5].

Group 1 - The company, Jiangbolong (301308.SZ), has indicated that its products are widely used in various new forms of smart terminals, including robots and AI glasses, demonstrating strong market competitiveness [1] - However, the business related to robots and AI glasses is still in the early stages of development, and its contribution to the company's actual performance remains low [1]

Core Viewpoint - Jiangbolong (301308.SZ) possesses market-leading high-end SiP technology and multi-chip packaging (MCP) technology, which supports the development of innovative products such as wafer-level system-in-package (SiP) mSSD, ultra-thin ePOP4x, and ultra-small eMMC [1] Group 1 - The company has launched innovative products including mSSD, ultra-thin ePOP4x, and ultra-small eMMC, leveraging its advanced packaging technologies [1] - The leading packaging technology plays a crucial role in supporting high-end products [1] - Customized edge AI storage products have achieved mass shipments with major clients [1] Group 2 - mSSD is being rapidly adopted by several leading PC manufacturers [1]

中信建投证券股份有限公司 关于 深圳市江波龙电子股份有限公司 向特定对象发行股票 之 发行保荐书 保荐人 二〇二六年二月 保荐人出具的证券发行保荐书 保荐人及保荐代表人声明 保荐人出具的证券发行保荐书 释 义 在本发行保荐书中，除非另有说明，下列词语具有如下特定含义： | 保荐人、主承销商、中 | 指 | 中信建投证券股份有限公司 | | --- | --- | --- | | 信建投证券 | | | | 公司、发行人、江波龙 | 指 | 深圳市江波龙电子股份有限公司 | | 本发行保荐书 | 指 | 中信建投证券股份有限公司关于深圳市江波龙电子股份有限 | | | | 公司向特定对象发行股票之发行保荐书 | | 本次发行、本次向特定 | | 深圳市江波龙电子股份有限公司 2025 年度向特定对象发行 A | | 对象发行、本次向特定 | 指 | 股股票的事项 | | 对象发行股票 | | | | 控股股东 | 指 | 蔡华波 | | 实际控制人 | 指 | 蔡华波、蔡丽江 | | 元成苏州 | 指 | 元成科技（苏州）有限公司，发行人控股子公司 | | Zilia Eletrônicos 、 | | Zil ...

证券代码：301308 证券简称：江波龙 深圳市江波龙电子股份有限公司 （地址：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 2001、2201、2301） 募集说明书 （修订稿） 保荐人（主承销商） 二〇二六年二月 2025 年度向特定对象发行 A 股股票 深圳市江波龙电子股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书 声 明 本公司及全体董事、高级管理人员承诺本募集说明书及其他信息披露资料 不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及完整 性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财 务会计资料真实、完整。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申 请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行 人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与 之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由 发行人自行负责。投资者自主判断发行人的投资价值，自主作出投资决策，自 行承担证券依 ...

安永华明会计师事务所（特殊普通合伙）（以下简称"我们"或"申报会计师"、"会计师"） 审计了深圳市江波龙电子股份有限公司（以下简称"江波龙"或"发行人"、 "公司"）2022 年 度、2023年度及 2024年度的财务报表，并分别于 2023年 3月 20日、2024年 4月 19日、 2025 年 3 月 19 日出具了编号为安永华明（2023）审字第 61350056_H01 号、安永华明 （2024）审字第 70028183_H01 号、安永华明（2025）审字第 70028183_H01 号的无保 留意见的审计报告。 关于对深圳市江波龙电子股份有限公司 申请向特定对象发行股票 审核问询函回复的专项说明 深圳证券交易所： 我们对 2022 年度、2023 年度和 2024 年度财务报表执行审计程序的目的，是对上述 财务报表是否在所有重大方面按照企业会计准则的规定编制，是否公允反映深圳市江波龙 电子股份有限公司 2022 年 12 月 31 日、2023 年 12 月 31 日及 2024 年 12 月 31 日的合并 及公司财务状况以及 2022 年度、2023 年度及 2024 年度的合并及公司经营成 ...

证券代码：301308 证券简称：江波龙 深圳市江波龙电子股份有限公司 与 中信建投证券股份有限公司 关于深圳市江波龙电子股份有限公司申请 向特定对象发行股票的审核问询函之回复 保荐人（主承销商） 二零二六年二月 深圳证券交易所： 贵所于 2026 年 1 月 27 日出具的《关于深圳市江波龙电子股份有限公司申请 向特定对象发行股票的审核问询函》（审核函〔2026〕020007 号）（以下简称"审 核问询函"）已收悉。深圳市江波龙电子股份有限公司（以下简称"江波龙"、"发 行人"、"公司"）会同中信建投证券股份有限公司（以下简称"中信建投证券"、 "保荐人"）、北京市中伦律师事务所（以下简称"律师"）、安永华明会计师事务 所（特殊普通合伙）（以下简称"会计师"）等相关方，本着勤勉尽责、诚实守信 的原则，就审核问询函所提问题逐项进行了认真讨论、核查和落实，现回复如下， 请予审核。 如无特别说明，本回复中的简称或名词释义与《深圳市江波龙电子股份有限 公司 2025 年度向特定对象发行 A 股股票募集说明书》（以下简称"《募集说明 书》"）中简称具有相同含义。 | 宋体 对审核问询函所列问题的回复 | | | -- ...