群联 CEO 潘建成：当前存储行情“或许一生只会见到一次”

Core Insights - The current storage market driven by AI inference is unprecedented and may only occur once in a lifetime according to Phison's CEO [1] Financial Performance - Phison reported Q3 revenue of 18.137 billion New Taiwan Dollars (approximately 4.168 billion RMB), a quarter-on-quarter increase of 1.4%, marking a historical high [1] - The gross profit for the same period reached 5.8 billion New Taiwan Dollars, also a record [1] Market Dynamics - All NAND flash manufacturers have begun raising prices, with increases ranging from 50% to 75%, impacting enterprise-level demand for Q4 [3] - The price of 1Tb TLC NAND flash rose from approximately $4.8 in July to $10.7 by early November [3] - Client-side controller shipments saw a year-on-year increase of 380% and a quarter-on-quarter increase of 72% [3] Supply Chain Management - Due to tight market supply, Phison is managing shipments cautiously and controlling new orders to ensure completion of all existing orders [1] - The company is shifting supply resources from consumer-grade products to enterprise, industrial, and embedded sectors [1] - TSMC's 6nm production capacity constraints are expected to limit future supply capabilities [3] Industry Profitability - Current gross margins for original NAND flash businesses are around 50-60%, with concerns that margins reaching 80% could harm the entire industry [3] - Phison's management hopes upstream manufacturers will avoid excessive price increases, while moderate price hikes could support new capacity expansion [3]