Core Viewpoint - Demingli (001309) has announced a private placement plan to raise funds for expanding solid-state drive (SSD) production, DRAM production, establishing a smart storage management and R&D headquarters, and supplementing working capital, capitalizing on the booming demand for storage driven by AI servers [1] Industry Summary - The storage industry is currently experiencing a "super cycle" due to a combination of explosive demand, structural supply constraints, and domestic substitution, with AI breakthroughs being the core engine for demand growth [1] - Reports predict that global data generation will reach 175ZB by 2025 and exceed 1003ZB by 2030, leading to exponential growth in the demand for high-capacity, low-latency, and highly reliable storage solutions [1] - The storage industry's prices have surged, with the price of mainstream DDR5 16Gb chips rising from $7.68 to $15.5 in just one month, marking a 102% increase [1] - Major players like Samsung and SK Hynix have announced a 20%-30% price increase for DRAM and NAND contracts in Q4 [1] Company Summary - Demingli is focusing on expanding its production capacity in response to the AI-driven market demand, with plans to invest 1.648 billion yuan in AI-adapted SSDs and memory production [2] - The company has seen significant revenue growth, with a reported revenue of 6.659 billion yuan for the first three quarters of 2025, representing an 85.13% year-on-year increase [3] - The solid-state drive segment generated 1.534 billion yuan in revenue, up 64.62% year-on-year, while the memory bar business saw a 170.60% increase to 338 million yuan, and embedded storage revenue surged by 290.10% to 1.7 billion yuan [3] - The R&D team has expanded from 103 members in early 2022 to over 350, indicating a strong commitment to innovation and technology advancement [3] - The private placement is a strategic move to leverage the AI storage super cycle and enhance the company's market presence in SSDs and DRAM for AI servers and terminals [3]
德明利拟定增募资扩产AI存储 行业正迎来需求爆发期