最高上涨85%，DDR4再度爆发，机构大幅上修三季度合约价

Industry Overview - Recent survey by TrendForce indicates a tighter supply of consumer-grade DRAM compared to PC and Server markets, driven by demand from industrial control, networking, television, consumer electronics, and controllers [1] - The primary memory specification in use is DDR4, but its supply is prioritized after PC and Server applications, leading to a more severe supply-demand imbalance in the consumer market [1] - In July, the contract price for consumer-grade DDR4 surged by over 60-85%, prompting a significant upward revision of the third-quarter contract price to an increase of 85-90% [1] - DDR4 prices have surpassed the breakeven point for DRAM manufacturers due to price increases, advanced manufacturing technologies, and reduced depreciation rates [1] - Despite the superior performance of DDR5, DDR4 remains widely used in automotive, industrial, and networking sectors, particularly in the industrial control market where demand is high, resulting in shortages in the spot market [1] - The current unstable tariff policies and changes in the international supply chain have led to increased customer stocking demands, reflecting an overall recovery in industry demand as storage prices have been rising in recent months [1] - Future expectations indicate that in the next 2-3 quarters, production cuts or reductions for consumer, mobile, PC, and data center DDR4 are likely [1] - Domestic companies are anticipated to benefit from price increases and order transfers according to Tianfeng Securities [1] Company Developments - Shannon Semiconductor, in collaboration with SK Hynix and DaPo Micro, has established Haipu Storage to focus on enterprise SSD and RDIMM products, having released self-developed enterprise SSD and DDR4/DDR5 RDIMM memory products [2] - Beijing Junzheng has already commenced mass production and sales of its LPDDR4 and DDR4 products [3]