中信证券：近存计算高景气 看好投资机遇

Core Viewpoint - The upgrade of memory bandwidth and capacity is central in the AI era, with integrated storage and computing being a trend, leading to high demand in near-storage computing, presenting investment opportunities [1] Group 1: Investment Recommendations - Focus on four key areas within the domestic HBM and CUBE-related industrial chain: 1) Storage solution manufacturers are essential for CUBE support, with customized design solutions aiding industrialization and entry into high-end markets, particularly those with original storage manufacturer support and first-mover advantages [1] 2) Semiconductor equipment will benefit from the upgrade in advanced packaging and testing demands, alongside process optimization and yield improvement, accelerating the localization of the supply chain; focus on etching, bonding, and thinning equipment [1] 3) Advanced packaging is a critical breakthrough point for high-end storage, with high equipment availability, and mainland Chinese manufacturers leading in advanced packaging capabilities and expanding production capacity [1] 4) Logic chip companies are also highlighted as a focus area [1]