Group 1 - The report maintains a positive outlook on the AI chain, emphasizing the impact of the storage cycle and the acceleration of self-control in the industry [1] - In 2026, the focus will be on the AI chain, storage cycles, and the acceleration of self-control, with expectations of continued growth in the electronics sector driven by AI data centers and terminal demand recovery [1][3] - The storage sector is expected to enter a price increase cycle starting in the second half of 2025 due to significant supply-demand imbalances [1][3] Group 2 - The Scaling Law remains effective, transitioning into a 2.0 phase that enhances model capabilities and drives demand for computing power [2][18] - The demand for high-end PCBs is anticipated to increase significantly in 2026, driven by the upgrade of AI server platforms and the growth of cloud service providers' self-developed ASICs [2][73] - The AI-driven demand for storage is expected to grow rapidly, with major storage manufacturers like SanDisk, Micron, and Samsung announcing price increases, indicating a sustained upward trend in storage prices [3][60] Group 3 - The domestic storage chip and module manufacturers are expected to benefit from the upward cycle in storage prices, with a focus on DRAM and NAND markets [3][4] - The trend towards domestic production in the storage sector is expected to continue, with companies like Changxin and Changcun expanding capacity and market share [4][66] - The consumer electronics sector may face pressure from rising storage prices, particularly affecting Android smartphones and PCs, while new product innovations could catalyze market recovery [5][72] Group 4 - The report highlights the importance of advanced processes and domestic production in the semiconductor industry, with a focus on improving production capacity and technology [4][68] - The AI chip market is projected to grow significantly, with a compound annual growth rate (CAGR) of 35.19% expected from 2025 to 2030, driven by strong demand for AI training and inference [60][66] - The custom AI chip market is anticipated to expand rapidly, with a forecasted CAGR of 53% from 2024 to 2028, as domestic internet companies increasingly adopt a dual approach of third-party procurement and self-developed ASICs [72][73]

Core Insights - Shenzhen Huaxida Technology Co., Ltd. and Shenzhen Jiangbolong Electronics Co., Ltd. have established a joint innovation laboratory to focus on AI Home ecosystem development [1][3] Group 1: Joint Innovation Laboratory - The joint laboratory aims to build a technology verification system covering AI terminal development, focusing on AI devices and smart home scenarios [3] - The collaboration leverages Jiangbolong's expertise in semiconductor storage and memory chip design, validation, and packaging, alongside Huaxida's experience in AI Home device development [3][4] - The laboratory will address compatibility issues between storage chips and AI terminal devices, ensuring the stability and compatibility of AI models in complex reasoning scenarios [3] Group 2: Strategic Goals - Both companies aim to explore new AI storage packaging solutions for terminal applications, enhancing data transmission capabilities and creating a flexible foundational computing base [3][4] - The initiative will promote deep integration of AI storage technology, AI Home devices, and AI algorithms, forming an innovative system that spans from foundational storage to terminal devices and smart scenarios [3] Group 3: Leadership Statements - Huaxida's Chairman Li Bo emphasized the importance of this collaboration in enhancing core competitiveness and providing practical AI home ecosystem support [4] - Jiangbolong's Chairman Cai Huabo highlighted the laboratory as a platform for exploring innovative paths in storage and AI scene adaptation, supporting the development of the AI smart ecosystem [4] Group 4: Future Directions - The companies plan to deepen cooperation around key areas such as AI Home, edge AI, and multi-device collaboration, accelerating technological integration [4] - There is a commitment to expand ecological cooperation boundaries and build a more open, robust, and sustainable AI Home ecosystem [4]

（编辑 姚尧） 证券日报网讯 12月4日，江波龙在互动平台回答投资者提问时表示，公司本次向特定对象发行股票尚需 获得本公司股东会审议批准，该事项仍存在不确定性。为保护投资者利益，公司不对重大假设性问题做 出回应，将根据该事项的进展情况及时履行信息披露义务。 ...

Core Viewpoint - The company, Jiangbolong, emphasizes the broad application potential of its semiconductor memory products, particularly in space data centers, although it currently lacks specific statistics or dedicated clients for this segment [2]. Group 1 - The company is recognized as a leading comprehensive semiconductor memory brand [2]. - Jiangbolong will continue to focus on understanding and monitoring the actual applications of its memory products across various usage scenarios [2].

证券日报网讯12月4日，江波龙（301308）在互动平台回答投资者提问时表示，公司紧跟高性能存储技 术演进趋势，已正式发布SOCAMM2产品。SOCAMM2产品目前尚未形成收入，公司将根据客户验证情 况和市场需求，有序推进产品商业化进程。 ...

Core Viewpoint - The demand for high-performance TLC eSSD and QLC eSSD will continue to rise due to AI applications, while HDD supply remains constrained, leading to an expected increase in overall NAND Flash prices in Q4 [1] Group 1 - AI applications are driving the demand for high-performance TLC eSSD and QLC eSSD [1] - HDD supply is still short, which is expected to support the increase in NAND Flash prices in Q4 [1] - Major manufacturers are maintaining a cautious capacity expansion strategy due to past cycles [1] Group 2 - If capital expenditures increase in the future, the contribution to bit output growth by 2026 will be limited due to the lag in capacity construction cycles [1]

Group 1: Market Trends and Pricing - The demand for CSP in high-performance TLC eSSD and QLC eSSD is expected to rise due to AI applications, while HDD supply remains tight, supporting a continued increase in NAND Flash prices in Q4 [2][3] - Major manufacturers are maintaining a cautious capacity expansion strategy, which may limit the contribution to bit output growth in 2026 due to the lag in capacity construction cycles [2] Group 2: Supply Chain and Partnerships - The company has established long-term direct cooperation with major global storage wafer manufacturers, providing a competitive edge in the supply chain [3] - Supplier information is disclosed in public documents such as the prospectus [3] Group 3: Technology and Product Development - The company's self-developed controller chip technology offers significant performance and power consumption advantages, utilizing advanced foundry processes and proprietary firmware algorithms [3] - The company has launched several cutting-edge high-performance storage products, including MRDIMM and CXL2.0 memory expansion modules, and is focused on market demand for future product development [3] Group 4: Clientele and Market Engagement - The company actively participates in technology and new product bidding for major clients, with enterprise storage products integrated into the supply chains of leading internet companies, including telecom operators and server manufacturers [3] Group 5: Disclosure Compliance - The activity does not involve any undisclosed significant information [3]

Market Overview - The Shanghai Composite Index fell by 0.06% on December 4, with 9 out of the 28 sectors rising, led by machinery and electronics, which increased by 0.90% and 0.78% respectively [1] - The total net outflow of funds from the two markets was 24.304 billion yuan, with 5 sectors experiencing net inflows, primarily in the machinery sector, which saw a net inflow of 2.911 billion yuan [1] Electronics Sector Performance - The electronics sector rose by 0.78% despite a net outflow of 3.866 billion yuan, with 471 stocks in the sector, of which 181 rose and 282 fell [2] - Notable stocks with significant net inflows included Cambrian Technologies (6.31 billion yuan), Changchuan Technology (5.23 billion yuan), and Shenghong Technology (4.79 billion yuan) [2] - The sector also had 23 stocks with net outflows exceeding 100 million yuan, with the largest outflows from Xiangnong Chip (759 million yuan), Huaying Technology (446 million yuan), and Jiangbolong (315 million yuan) [2][3] Fund Flow Analysis - The top gainers in the electronics sector included Cambrian Technologies (2.75%), Changchuan Technology (6.96%), and Shenghong Technology (2.19%), with respective main fund flows of 630.76 million yuan, 522.88 million yuan, and 479.37 million yuan [2] - Conversely, the largest losers included Xiangnong Chip (-3.56%), Huaying Technology (-2.76%), and Jiangbolong (-1.30%), with main fund outflows of 758.92 million yuan, 446.47 million yuan, and 314.74 million yuan [3]

人民财讯12月4日电，江波龙（301308）12月4日在互动平台表示，公司紧跟高性能存储技术演进趋势， 已正式发布SOCAMM2产品。SOCAMM2产品目前尚未形成收入，公司将根据客户验证情况和市场需 求，有序推进产品商业化进程。 ...

格隆汇12月4日｜江波龙在互动平台表示，公司已正式发布SOCAMM2产品。SOCAMM2产品目前尚未 形成收入，公司将根据客户验证情况和市场需求，有序推进产品商业化进程。 ...