KAIFA(SZ:000021) Zheng Quan Ri Bao Wang·2025-09-30 09:19Core Viewpoint - Despite the ongoing impact of SSDs on the consumer HDD market, there remains significant demand for HDDs in data centers, enterprise storage, and big data processing due to their advantages in large capacity and low-cost storage [1] Company Summary - As of the first half of 2025, the sales volume of the company's substrate business has significantly increased compared to the same period last year [1] - The sales volume of the hard disk head business has declined year-on-year due to the impact of customer capacity layout shifts [1] - The company aims to seize opportunities from the explosive growth in data storage demand and the upcoming technological upgrades in the storage industry driven by innovations such as HAMR (Heat-Assisted Magnetic Recording) [1] - The company plans to continuously optimize its product matrix and business model while actively expanding into emerging business areas to maintain its technological leadership in the storage industry [1]