【私募调研记录】玖歌投资调研佰维存储

Group 1 - The core viewpoint of the news is that Bawei Storage has achieved significant breakthroughs in various sectors, including mobile phones, PCs, smart wearables, enterprise-level applications, and smart vehicles in the first half of 2025 [1] - The storage industry has seen price stabilization and recovery, with Bawei Storage's first domestically developed eMMC main control chip entering mass production and UFS main control chip development ongoing [1] - The company's second-quarter performance in 2025 showed a quarter-on-quarter recovery, primarily driven by a substantial increase in product shipment volume [1] Group 2 - Bawei Storage is advancing its wafer-level advanced packaging manufacturing project, which is set to commence production in the second half of the year, providing a one-stop comprehensive solution [1] - The company possesses strong competitive advantages in edge AI through self-developed main control chips, firmware algorithms, and advanced packaging capabilities, enabling differentiated competition [1] - Bawei Storage is exploring high-cost performance solutions and participating in innovative explorations of cutting-edge packaging forms such as 3D CUBE [1]