Thinkon Semi(SH:688233) Sou Hu Cai Jing·2025-11-10 02:07Group 1: Semiconductor Industry Performance - The CSI Semiconductor Industry Index rose by 1.65%, with notable increases in stocks such as ShenGong Co. (+20.00%), LiAng Micro (+10.02%), and Jingyi Equipment (+8.34%) [3] - The Semiconductor Industry ETF (159582) increased by 1.60%, reaching a latest price of 2.23 yuan, and has seen a cumulative increase of 2.77% over the past week [3] - The ETF had a turnover rate of 3.99% during trading, with a transaction volume of 18.0648 million yuan, and an average daily transaction volume of 69.4753 million yuan over the past week [3] Group 2: NAND Flash Market Insights - SanDisk anticipates that NAND product demand will continue to exceed supply, a trend expected to last until the end of 2026, with inventory turnover days decreasing from 135 to 115 days [3] - By 2026, the data center market is projected to surpass the mobile market as the largest segment for NAND flash memory, driven by strong demand from AI and cloud computing [3] Group 3: DRAM and NAND Supply Dynamics - Current DRAM shortages are reported to be the most severe in 30 years, with shortages in DDR5, DDR4, and DDR3 expected to persist until 2027 [5] - The surge in demand for SSDs in data centers has led to NAND flash shortages, with some upstream suppliers failing to deliver in October and prices increasing by 50% in November [5] - Lumentum reported that the optical chip market's supply-demand gap has widened from 20% to 25%-30%, while Coherent is working to double its internal capacity by 2026 due to production bottlenecks [5] Group 4: ETF and Index Composition - The Semiconductor Industry ETF closely tracks the CSI Semiconductor Industry Index, which includes up to 40 companies involved in semiconductor materials, equipment, and applications [5] - As of October 31, 2025, the top ten weighted stocks in the CSI Semiconductor Industry Index accounted for 78.04% of the index, including companies like Zhongwei Company, Beifang Huachuang, and SMIC [5]