Market Overview - On September 19, the large fund concept sector declined by 0.29% compared to the previous trading day, with Shengke Communication leading the decline [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Notable gainers in the large fund concept sector included Jiangbolong, which rose by 12.25% to a closing price of 127.95, with a trading volume of 269,700 shares and a transaction value of 3.41 billion [1] - Other gainers included Jingrui Electric Materials (+3.75%), Baiwei Storage (+2.74%), and Xingfu Electronics (+2.43%) [1] - Conversely, Shengshu Communication experienced the largest decline, falling by 7.55% to a closing price of 127.21, with a trading volume of 83,100 shares and a transaction value of 200.6 million [2] Capital Flow - The large fund concept sector saw a net outflow of 1.062 billion from institutional investors, while retail investors experienced a net inflow of 840 million [2][3] - The capital flow data indicates that institutional investors were net sellers, while retail investors were net buyers, suggesting differing market sentiments [2][3] Individual Stock Capital Flow - Baiwei Storage had a net inflow of 131 million from institutional investors, while it faced a net outflow of 131 million from speculative funds [3] - North Huachuang saw a net inflow of approximately 85.93 million from institutional investors, but also faced significant outflows from speculative and retail investors [3] - Jingrui Electric Materials experienced a net inflow of 67.69 million from institutional investors, while speculative funds and retail investors showed net outflows [3]

Group 1 - The A-share market for storage chip stocks has strengthened, with Jiangbolong rising over 16%, Demingli and Dawi shares hitting the 10% limit, and several other companies experiencing gains of over 5% [1] - Micron has notified channels of a price increase of 20%-30% for storage products, while Samsung has informed major clients of a projected price increase of 15%-30% for DRAM products in Q4 [1] - North American internet giants are seeing revenue and profit exceed expectations this year, driven by the expanding scale of AI usage and rapid penetration of AI applications [1] Group 2 - Research institutions believe that the price increases from SanDisk, Micron, and Samsung indicate an unexpected surge in the storage market, countering previous concerns about price pressure in Q1 2026 [1] - Current demand from data centers remains strong, with high-end product capacity utilization at full, and limited new capacity being added by NAND manufacturers [1] - Northeast Securities states that the global storage industry is undergoing a historic transition from cyclical fluctuations to technology-driven growth, with the price surge confirming an industry turning point [1] Group 3 - The following companies have shown significant stock performance: - Jiangbolong: +16.42%, market cap 55.6 billion, YTD increase 54.31% - Demingli: +10.00%, market cap 32 billion, YTD increase 126.94% - Dawi shares: +9.99%, market cap 4.467 billion, YTD increase 38.88% - Wanrun Technology: +6.93%, market cap 12.4 billion, YTD increase 20.86% - Pulang shares: +6.47%, market cap 16.1 billion, YTD increase 51.27% - Lianyun Technology: +6.19%, market cap 24 billion, YTD increase 27.72% - Shannon Chip: +6.00%, market cap 37.1 billion, YTD increase 181.47% - Baiwei Storage: +5.51%, market cap 38.3 billion, YTD increase 32.53% - Hengsuo shares: +5.20%, market cap 3.96 billion, YTD increase 22.44% [2]

Group 1 - The storage chip sector has shown strong performance, with significant gains in stock prices [1] - Jiangbolong's stock increased by over 17%, while Xiangnong Chip's stock rose by over 5%, both reaching historical highs [1] - Other companies such as Daway Co., Puran Co., Tailong Co., Kaipu Cloud, Baiwei Storage, and Wanrun Technology also experienced stock price increases [1]

Core Viewpoint - The memory and flash memory sectors experienced a significant rally on September 19, with multiple companies seeing substantial stock price increases, indicating a positive market sentiment and potential growth in the industry [1]. Group 1: Stock Performance - Companies such as Demingli, Jiangbolong, and Lankai Technology saw stock price increases of over 10%, with Demingli reaching a peak increase of 9.33% and Jiangbolong at 10.02% [1][2]. - The market capitalization of Jiangbolong is reported at 34.41 billion, while Demingli's market cap stands at 22.39 billion [2]. Group 2: Price Increase Trends - U.S. storage companies, including Micron Technology and SanDisk, saw stock prices rise over 5%, reaching historical highs [3]. - Samsung is expected to increase prices for DRAM products by 15%-30% and NAND products by 5%-10% in Q4 [3]. - Micron has halted pricing for various storage products, indicating potential price increases of 20%-30% [3]. Group 3: Market Dynamics - The DRAM market is anticipated to experience a comprehensive price increase by the second half of 2025 due to supply-demand imbalances [4]. - The NAND market is under pressure to improve profit margins as some applications have not yet reached profitability [4]. - AI-driven demand is significantly boosting the storage sector, leading to supply shortages and price hikes [5]. Group 4: Future Outlook - The global DRAM market is expected to expand continuously, benefiting the storage industry as AI computing needs grow [5]. - The transition of NAND production lines to newer technologies is causing a significant drop in overall capacity, further driving price increases [5]. - Innovations in DRAM architecture, such as 3D DRAM, are being developed to enhance efficiency and meet growing demand [5].

Core Insights - The Forbes list of China's top 30 multinational companies highlights the strength of Shenzhen enterprises, with five companies making the list: BYD, Jiangbolong, Luxshare Precision, Xiechuang Data, and Yingshi Innovation [1][2] Group 1: BYD - BYD reported a revenue of 371.3 billion yuan for the first half of 2025, a year-on-year increase of 23% [1] - The net profit attributable to shareholders reached 15.5 billion yuan, up 14% year-on-year [1] - BYD's cash reserves stood at 156.1 billion yuan, with overseas revenue reaching 135.4 billion yuan, a significant increase of 50.5% compared to the same period last year, accounting for 36.5% of total revenue [1] - Global sales from January to July reached 2.49 million units, a 27% increase year-on-year, with overseas sales exceeding 550,000 units, growing over 130% [1] Group 2: Xiechuang Data - Xiechuang Data invested 7 billion yuan in the first half of the year to procure high-performance servers, enhancing its business layout across China, the US, Europe, and the Asia-Pacific [2] - The company achieved a revenue of 4.944 billion yuan in the first half of the year, reflecting a year-on-year growth of 38.18% [2] - The net profit attributable to shareholders was 432 million yuan, an increase of 20.76% year-on-year [2] Group 3: Jiangbolong - Jiangbolong reported a revenue of 10.196 billion yuan in the first half of the year, marking a year-on-year increase of 12.80% [2] - The net profit attributable to shareholders was 14.7663 million yuan, a significant decrease of 97.51% year-on-year [2] - The overseas brand Zilia generated sales of 1.388 billion yuan, a year-on-year growth of 40.01% [2] Group 4: Luxshare Precision - Luxshare Precision's revenue for the first half of the year reached 124.503 billion yuan, a year-on-year increase of 20.18% [2] - Overseas revenue amounted to 105.726 billion yuan, growing 17.38% year-on-year, and accounting for 84.82% of total revenue [2] - The net profit attributable to shareholders was 6.644 billion yuan, reflecting a year-on-year increase of 23.13% [2] - The company is planning a Hong Kong listing with an expected fundraising of over 1 billion USD to support its global strategy [2] Group 5: Yingshi Innovation - Yingshi Innovation achieved a revenue of 3.671 billion yuan in the first half of the year, a year-on-year growth of 51.17% [2] - The net profit attributable to shareholders was 520 million yuan, showing a slight increase of 0.25% year-on-year [2]

Group 1 - Forbes China released a list of the top 30 multinational companies, with five Shenzhen enterprises including BYD, Jiangbolong, Luxshare Precision, Xiechuang Data, and Yingshi Innovation making the cut, highlighting the global expansion capabilities of these firms [1][3] - The list focuses on companies that have achieved robust global expansion in brand, supply chain, and R&D, with Shenzhen firms representing one-sixth of the total [1][3] - The evaluation criteria included market capitalization, overseas revenue growth, market share, competitiveness, and stock performance in 2023, identifying companies that exemplify successful globalization [3] Group 2 - BYD reported a significant increase in overseas revenue, with a net increase of 61.66 billion yuan year-on-year, the highest among A-share listed companies [3] - Companies in the computing power sector, particularly Xiechuang Data, have seen rapid overseas revenue growth, transforming from traditional electronic manufacturing to AI computing service providers [3] - The AI server market is experiencing explosive growth, with major tech companies like Meta, OpenAI, Tesla, and Microsoft planning to invest hundreds of billions in large model training over the next three years, indicating a burgeoning demand for enterprise-level computing power [3] Group 3 - Yingshi Innovation has accelerated its global market presence, with nearly 80% of its revenue coming from overseas, emphasizing the importance of tailored marketing strategies for different regions and applications [4] - The company’s diverse product applications and markets have driven its international growth, with a focus on precision marketing as a key to successful expansion [4]

Market Performance - The main board led the gains with notable stocks such as Fenghuo Communication (+10.02%), Kesen Technology (+10.01%), and Guanghe Technology (+10.01) [1] - The ChiNext board saw significant increases with Anlian Ruishi (+19.99%), Guangku Technology (+15.00%), and Longyang Electronics (+10.26%) [1] - The Sci-Tech Innovation board was led by Dekeli (+20.00%), Huicheng Co. (+14.16%), and Zhongwei Company (+11.43%) [1] - Active sub-industries included SW Communication Cables and Accessories (+5.44%) and SW Semiconductor Equipment (+5.28%) [1] Domestic News - Shangle Electronics announced plans to acquire an 88.79% stake in Ligong Technology through its wholly-owned subsidiary, aiming for a "1+1>2" synergy effect to enhance competitiveness [1] - Xingchen Technology revealed that it has chips suitable for AI glasses already shipped to end customers and is in discussions with various clients [1] - Jiangbolong reported over 80 million units of its main control chips deployed by the end of July, with continued rapid growth expected [1] - Huawei's rotating chairman announced the launch timeline for its Ascend chips, with the Ascend 950PR expected in Q1 2026 [1] Company Announcements - Zhejiang Shusu Culture announced a cash dividend of 0.08 yuan per share, totaling approximately 101.45 million yuan [3] - Focus Technology declared a cash dividend of 6 yuan for every 10 shares, based on a total share capital of approximately 317.24 million shares [3] - Yake Technology announced a cash dividend of 3.20 yuan for every 10 shares, totaling around 152.30 million yuan [3] - Yunzhu Technology reported receiving government subsidies amounting to 20.12 million yuan [3] Overseas News - According to DigiTimes, NAND and DRAM contract prices are expected to rise by 15-20% in Q4 2025, driven by AI infrastructure and supply constraints [4] - Reports indicate that Apple plans to launch the "iPhone Ultra" foldable phone in H2 2026, with initial shipment targets between 7 million and 10 million units [4] - Meta launched the new generation of smart glasses, Meta Ray-Ban Display, featuring high-resolution displays for various functionalities [4] - Schaeffler's inverter brick, equipped with Rohm's SiC MOSFET, has begun mass production, supporting higher battery voltages for electric vehicles [4]

Core Viewpoint - Jiangbolong announced that director Li Zhixiong has reduced his shareholding, bringing his ownership below 5% [1][2] Group 1: Shareholding Changes - On September 2 to September 17, 2025, Li Zhixiong reduced his shareholding by 2,142,804 shares, which is 0.511232% of the total share capital [1] - Before the reduction, Li Zhixiong held 23,100,000 shares (5.511216% of total share capital), and after the reduction, he holds 20,957,196 shares (4.999984% of total share capital) [1] - The total number of shares Li Zhixiong plans to reduce is up to 4,191,452 shares (1.00% of total share capital) between September 2 and December 1, 2025 [1] Group 2: Compliance and Impact - The reduction aligns with the previously disclosed plan, and the number of shares reduced is within the planned range, indicating compliance with commitments [2] - The reduction does not violate any laws or previous commitments made by Li Zhixiong, and it will not lead to a change in the company's control or affect its governance structure and ongoing operations [2] - Jiangbolong will continue to monitor the implementation of Li Zhixiong's reduction plan [3]

证券代码：301308 证券简称：江波龙 公告编号：2025-068 深圳市江波龙电子股份有限公司 关于董事减持至5%以下并触及1%整数倍暨 权益变动的提示性公告 本公司股东及董事李志雄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、本次权益变动性质为股份减少，不触及要约收购。 2、本次权益变动不会导致公司控制权发生变更，不会对公司治理结构及持续 经营产生影响。 3、本次权益变动后，董事李志雄先生持有公司股份 20,957,196 股，占公司总 股本的 4.999984%，不再是公司持股 5%以上的股东。 深圳市江波龙电子股份有限公司（以下简称"公司"）于 2025 年 8 月 11 日披 露了《关于 5%以上股东及董事、高级管理人员减持股份预披露公告》（公告编号 2025-055）。公司董事李志雄先生计划在 2025 年 9 月 2 日至 2025 年 12 月 1 日期 间通过证券交易所以集中竞价交易、大宗交易方式合计减持公司股份不超过 4,191,452 股（占公司总股本比例为 1 ...

深圳市江波龙电子股份有限公司 简式权益变动报告书 上市公司名称：深圳市江波龙电子股份有限公司 股票上市地点：深圳证券交易所 股票简称：江波龙 股票代码：301308 信息披露义务人：李志雄 住所/通讯地址：广东省深圳市*** 股份变动性质：减持 信息披露义务人声明 一、本报告书系信息披露义务人依据《公司法》《证券法》《上市公司收购 管理办法》《证券期货法律适用意见第 19 号——<上市公司收购管理办法>第十 三条、第十四条的适用意见》和《公开发行证券的公司信息披露内容与格式准则 第 15 号——权益变动报告书》等相关法律、法规及规范性文件编制。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行不违反 信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《上市公司收购管理办法》《公开发行证券的公司信息 披露内容与格式准则第 15 号——权益变动报告书》相关规定，本报告书已全面 披露了信息披露义务人在深圳市江波龙电子股份有限公司拥有权益的股份变动 情况。截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通 过任何其他方式增加或减少其在深圳市江波龙电子股份有限公司中拥 ...