“涨价”成存储芯片关键词 供不应求下国内厂商将迎业务机遇

Core Viewpoint - The storage chip industry is experiencing a new price increase cycle driven by surging demand for high-capacity, low-power storage chips, particularly due to the AI model wave [1][2]. Group 1: Market Dynamics - SK Hynix and Nvidia have completed negotiations for HBM4 supply, with prices expected to be over 50% higher than HBM3E [1]. - The demand for storage components continues to outstrip supply, leading to significant price increases in the global storage chip market [1][2]. - Major US storage chip stocks surged, with Micron Technology rising nearly 9% and setting a new historical high [1]. Group 2: A-Share Market Response - The optimistic sentiment from price increases has spread to the A-share market, with significant gains in storage chip stocks such as Shannon Semiconductor and others [2]. - The storage chip sector is supported by dual drivers of industrial upgrade demand and policy support, accelerating the domestic chip manufacturing process [2]. Group 3: Performance Metrics - As of November 5, the net value of the Science and Technology Innovation Board chip ETF has increased by 101.46% over the past two years, with a maximum monthly return of 35.07% [2]. - The top ten stocks in the Science and Technology Innovation Board chip index account for 60.55% of the index's weight [2][3]. Group 4: Company Developments - Changxin Memory has announced mass production of LPDDR5X products, achieving significant improvements in speed and power consumption [4]. - Zhaoyi Innovation reported a net profit of 1.083 billion yuan for the first three quarters, a 30.18% increase year-on-year [4]. - Jiangbolong's net profit for the first three quarters was 710 million yuan, a year-on-year increase of 27.95% [5]. Group 5: Investment Opportunities - Domestic storage leaders like Changxin Memory and Changdian Technology are benefiting from price recovery and accelerated domestic replacement [6]. - Upstream material companies are experiencing both volume and price increases due to enhanced storage chip production capacity [6]. - Equipment suppliers such as Zhongwei Company and Beifang Huachuang are expected to benefit from increased orders driven by storage chip production line expansions [7].