Hygon Information Technology (SH:688041) Shang Hai Zheng Quan Bao·2025-10-20 18:07Core Viewpoint - The semiconductor and computing power industries are experiencing a positive trend, with strong market demand and ongoing institutional research into over 20 companies in the sector since the National Day holiday [1] Semiconductor Industry - The storage industry is benefiting from a structural shift in supply and demand driven by the AI wave, leading to high market prosperity [2] - Companies like Shanghai Beiling and Demingli reported advancements in storage products, with Demingli noting an overall price increase in the storage market and a focus on enhancing production capacity to meet demand [2] - Hengshuo Co. is optimistic about the NOR Flash market, expecting price increases in Q4 and actively developing advanced NOR Flash products [3] - Huicheng Co. plans to invest strategically in DRAM packaging through partnerships to expand its capabilities in the storage chip packaging sector [3] Computing Power Market - The demand for computing power remains strong, with companies reporting robust order books and business expansion [4] - Haiguang Information achieved a revenue of 4.026 billion yuan in Q3 2025, a year-on-year increase of 69.60%, with a contract liability of 2.8 billion yuan indicating sustained customer demand [4] - Chip Origin Co. expects new orders of 1.593 billion yuan in Q3 2025, a significant year-on-year increase of 145.80%, with AI-related orders making up about 65% [4][5] - Shunwang Technology has developed a stable computing power service capability, successfully launching innovative products to meet diverse computing needs [6] - Guangmai Technology is collaborating on a domestic computing power cluster project, achieving significant results and positive feedback from internet companies [6]