三星、SK海力士被撤销VEU豁免，或将引发存储器供给紧张

Group 1 - The U.S. government announced the revocation of the "Verification of End User" (VEU) authorization for Samsung Electronics and SK Hynix in China, effective 120 days after the announcement, aiming to further restrict China's access to advanced chip manufacturing technology [1] - The revocation means that Samsung and SK Hynix will be limited to their current production levels in China, unable to innovate or expand their technology, which poses risks such as capacity freeze, forced capital expenditure relocation, customer migration, and supply chain redistribution [1] - The VEU system, established by the U.S. Department of Commerce, simplifies export processes for trusted foreign end users, allowing them to import controlled items without separate export license applications [1] Group 2 - In the short term, the difficulty of non-U.S. alternatives and insufficient time for existing capacity relocation may lead to tight supply in the memory market, especially as the second half of the year is a traditional peak season for consumer electronics [2] - Domestic replacement and industry prosperity are driving opportunities for memory companies, with storage prices showing good upward momentum [2] Group 3 - Jiangbolong, a leading company in the domestic storage module industry, is actively promoting TCM and PTM models to enhance its competitive advantage, with enterprise-level storage business revenue reaching 693 million yuan in the first half of 2025, a year-on-year increase of 138.66% [3] - Baiwei Storage focuses on storage solutions and is advancing in wafer-level advanced packaging and testing, receiving strategic investment from the National Integrated Circuit Industry Investment Fund Phase II, with expected revenue exceeding 1 billion yuan in the AI emerging edge sector in 2024 [3]