Core Viewpoint - Jiangbolong plans to issue no more than 84 million overseas listed ordinary shares and list on the Hong Kong Stock Exchange [1] Group 1 - The company aims to raise capital through the issuance of shares [1] - The proposed listing is part of the company's strategy to expand its market presence [1] - The issuance will enhance the company's financial flexibility and support future growth initiatives [1]

Core Viewpoint - The company plans to issue overseas listed foreign shares (H shares) and has received a notification from the China Securities Regulatory Commission regarding the registration for overseas issuance and listing [1] Group 1 - The company is Shenzhen Jiangbolong Electronics Co., Ltd. (江波龙) [1] - The company has received approval from the China Securities Regulatory Commission for its overseas listing [1]

Core Viewpoint - Jiangbolong (301308.SZ) plans to issue overseas listed foreign shares (H shares) and has received a notification from the China Securities Regulatory Commission regarding the registration for overseas issuance and listing [1] Group 1 - The company has announced its intention to issue H shares [1] - The notification from the China Securities Regulatory Commission confirms the company's compliance with regulatory requirements for overseas listing [1]

Group 1 - The core viewpoint of the news is that Jiangbolong (SZ 301308) has announced a meeting with investors, indicating active engagement with the investment community [1] - Jiangbolong's revenue composition for the year 2024 is entirely from the storage industry, with a 100.0% share [1] - As of the latest report, Jiangbolong's market capitalization stands at 46.7 billion yuan [2]

深圳市江波龙电子股份有限公司 证券代码：301308 证券简称：江波龙 公告编号：2025-067 关于发行境外上市外资股（H股） 获得中国证监会备案的公告 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。 深圳市江波龙电子股份有限公司（以下简称"公司"）于近日收到中国证券 监督管理委员会（以下简称"中国证监会"）出具的《关于深圳市江波龙电子股 份有限公司境外发行上市备案通知书》（国合函〔2025〕1559 号）（以下简称 "备案通知书"）。备案通知书主要内容如下： 公司将根据该事项的进展情况及时履行信息披露义务，敬请广大投资者注意投资 风险。 特此公告。 深圳市江波龙电子股份有限公司董事会 2025 年 9 月 15 日 三、公司完成境外发行上市后 15 个工作日内，应通过中国证监会备案管理 信息系统报告发行上市情况。公司在境外发行上市过程中应严格遵守境内外有关 法律、法规和规则。 四、公司自备案通知书出具之日起 12 个月内未完成境外发行上市，拟继续 推进的，应当更新备案材料。 备案通知书仅对公司境外发行上市备案信息予以确认，不表明中国证监会对 公司证券的投 ...

Group 1: Market Trends and Predictions - The storage market is expected to see a comprehensive price increase in Q4 due to the surge in server shipment demand and supply strategies from storage wafer manufacturers [2][3] - The NAND flash market is predicted to expand continuously, driven by increased inventory demand in the server market and new mobile phone launches [2] Group 2: Business Growth and Competitive Position - The company ranks third in total capacity for enterprise-grade SATA SSDs in China and first among domestic brands, according to IDC data [3] - The company is actively expanding its high-performance storage products for data center applications, including new memory types like CXL2.0 and MRDIMM [3] Group 3: Technology and Product Development - The company has achieved over 80 million units of its self-developed main control chips deployed by the end of July, with rapid growth in deployment scale [5] - The UFS4.1 products equipped with the company's self-developed main control chips demonstrate superior performance, with sequential read/write speeds of 4350MB/s and 4200MB/s, and random read/write performance of 630K IOPS and 750K IOPS [4][5] Group 4: TCM Model and Future Prospects - The company has established a TCM (Technology Cooperation Manufacturing) model in collaboration with SanDisk, which is accelerating the introduction of UFS products into multiple Tier 1 customer supply chains [4] - The TCM business model is expected to achieve breakthroughs in cooperation with more manufacturers and Tier 1 customers [4]

Core Insights - The rapid development of artificial intelligence (AI) has created a significant demand for high-performance enterprise-level SSD products to enhance data access and processing capabilities [2] - Major companies like ByteDance, Alibaba, and Tencent are significantly increasing their capital expenditures for AI computing and data center infrastructure, indicating a robust growth trajectory for the AI sector [2] Industry Trends - The AI training phase requires high bandwidth, high IOPS, and low-latency storage systems to match GPU computing power, while the inference phase demands high concurrency and low-latency response capabilities [2] - The shift towards high-performance, low-power storage solutions with reasonable overall costs is essential due to the massive data generated and utilized in AI applications [2] Company R&D Investments - Companies such as Jiangbolong and Baiwei Storage are leading in R&D investments, which are crucial for product innovation and enhancing competitive advantages in the AI-driven market [3] - Jiangbolong has the highest number of R&D personnel at 1,177, followed by Baiwei Storage with 898, indicating a strong focus on innovation [5] - In terms of R&D expenditure for the first half of 2025, Jiangbolong invested approximately 44.57 million yuan, while Baiwei Storage invested around 27.29 million yuan, showcasing their commitment to R&D [6] R&D Expenditure as a Percentage of Revenue - The highest R&D expenditure as a percentage of revenue is held by Tongyou Technology at 21.3%, followed by Baiwei Storage at 7%, indicating varying levels of investment relative to their revenues [7] R&D Personnel Proportion - Baiwei Storage leads with 43.21% of its total employees in R&D, followed closely by Tongyou Technology at 43.07%, highlighting the importance of R&D in their operational strategies [8] Company Developments in SSD Market - Baiwei Storage has launched innovative storage solutions, including a PCIe 5.0×4 channel Gen 5 SSD, achieving high sequential read and write speeds, which are essential for AI applications [9] - Jiangbolong has introduced multiple high-speed enterprise-level eSSD products, ensuring compatibility with various domestic CPU platforms, which strengthens its market position [10] - Demingli has successfully mass-produced its self-developed SATA SSD controller chip and is focusing on AI and data center applications, increasing its investment in this area [11] Other Company Initiatives - Wanrun Technology is working on its PCIe 5.0 SSD ME14000 project, while Tongyou Technology has made progress in the domestic storage sector with its PCIe 5.0 SSD [12] - Langke Technology continues to develop new SSD products and is expected to launch a new generation of PCIe 5.0 SSDs by the end of the year [13]

Core Viewpoint - The National Big Fund's stock concept has shown a positive performance with a 1.64% increase, ranking 10th among concept sectors, while 31 stocks within this sector rose, indicating a favorable market sentiment towards these stocks [1] Group 1: Stock Performance - Chip Original Co. (芯原股份) experienced a significant increase of 20%, reaching the daily limit, while Jiangbolong (江波龙) and Shengke Communication (盛科通信) also performed well with increases of 13.83% and 8.26% respectively [1] - The stocks with the largest declines included Jingrui Electric Materials (晶瑞电材) down by 3.40%, Shenzhen South Circuit (深南电路) down by 3.11%, and SMIC (中芯国际) down by 1.69% [1] Group 2: Capital Flow - The National Big Fund's stock concept saw a net outflow of 1.836 billion yuan, with 10 stocks receiving net inflows, and 8 stocks attracting over 10 million yuan in net inflows [1] - Chip Original Co. led the net inflow with 340 million yuan, followed by Ruixin Microelectronics (瑞芯微) with 124.14 million yuan, and Changchuan Technology (长川科技) with 82.73 million yuan [1] Group 3: Capital Inflow Ratios - The top stocks by capital inflow ratio included Debang Technology (德邦科技) at 7.27%, Aisen Co. (艾森股份) at 5.06%, and Chip Original Co. at 4.89% [2] - The capital inflow rankings highlighted the performance of various stocks, with Chip Original Co. showing a significant turnover rate of 7.89% [2]

Company Overview - Jiangbolong Electronics Co., Ltd. is located in Shenzhen and was established on April 27, 1999. The company went public on August 5, 2022. Its main business involves the research, design, and sales of semiconductor storage application products, with 99.99% of its revenue coming from storage products and related services [1]. Stock Performance - On September 12, Jiangbolong's stock rose by 5.06%, reaching a price of 102.43 CNY per share, with a trading volume of 305 million CNY and a turnover rate of 1.09%. The total market capitalization is 42.933 billion CNY [1]. Major Shareholders - Among Jiangbolong's top ten circulating shareholders, E Fund's Chuangye ETF (159915) increased its holdings by 15,200 shares in the second quarter, bringing its total to 2.4489 million shares, which accounts for 2.06% of the circulating shares. The estimated floating profit from this investment is approximately 12.0732 million CNY [2]. Fund Performance - E Fund's Chuangye ETF (159915) was established on September 20, 2011, and currently has a total asset size of 85.537 billion CNY. Year-to-date, it has achieved a return of 44.16%, ranking 602 out of 4222 in its category. Over the past year, the return is 97.88%, ranking 397 out of 3800, and since inception, it has returned 246.96% [2].

Group 1 - The storage chip sector in the A-share market experienced significant gains, with several companies reaching their daily limit up [1] - Notable performers included Jingzhida with a 20% increase, Shannong Xinchuan up over 17%, and Jiangbolong rising over 15% [1][2] - Other companies such as Tongyou Technology, Pulang Co., Beijing Junzheng, and Baiwei Storage also saw substantial increases, ranging from 10% to 13% [1][2] Group 2 - The total market capitalization of Jingzhida is 12.6 billion, with a year-to-date increase of 84.54% [2] - Shannong Xinchuan has a market cap of 35.1 billion and a year-to-date increase of 166.48% [2] - Jiangbolong's market cap stands at 47.1 billion, with a year-to-date increase of 30.62% [2]