A股存储芯片第一股来了！半导体设备ETF（159516）持续吸金

Core Viewpoint - Changxin Technology plans to raise 29.5 billion yuan through an IPO, totaling 34.5 billion yuan with its own funds, to invest in storage-related projects, indicating a sustained boom in the storage sector [1][3]. Group 1: Investment Plans and Market Position - Changxin Technology aims to upgrade its manufacturing lines for storage wafers and DRAM technology, as well as conduct research on advanced DRAM technologies [3]. - The company is recognized as the largest and most advanced DRAM manufacturer in China, covering a range of products including DDR4, LPDDR4X, DDR5, and LPDDR5/5X, and ranks first in China and fourth globally in DRAM shipments [3]. - The demand for storage products has surged due to the explosion of AI applications, leading to significant price increases, with DRAM and NAND Flash prices rising over 300% since September [3]. Group 2: Market Trends and Future Outlook - The storage capacity shortage is expected to be a key investment theme through 2026, driven by the rising demand for AI GPUs and related technologies [4]. - The trend towards 3D stacking in storage is increasing the value of equipment in etching, film deposition, and measurement processes, with a high requirement for domestic production rates [4][5]. - The semiconductor equipment ETF (159516) is highlighted as a strong investment direction due to the lack of storage original manufacturers in the A-share market and the ongoing demand for semiconductor equipment [5]. Group 3: ETF Performance and Market Dynamics - The semiconductor equipment ETF (159516) has seen a net inflow of nearly 2.2 billion yuan over the past 20 days, with a year-to-date growth of over 200%, currently reaching a scale of over 8.8 billion yuan, ranking first among similar products [1][9]. - The ETF is positioned to benefit from the dual drivers of storage expansion and advanced process expansion, with a clear catalyst and relatively low valuation [6]. - Recent data shows a significant increase in the import of lithography machines, indicating strong expansion demand, with imports totaling 46 billion yuan in November alone [6].