Biwin Storage Technology (SH:688525) Zheng Quan Ri Bao Wang·2026-01-14 02:19Core Viewpoint - The global storage market is experiencing a strong price increase, referred to as a "super cycle," with significant attention on the performance of industry companies, particularly Shenzhen Baiwei Storage Technology Co., Ltd. (Baiwei Storage), which has released its first earnings forecast for 2025, showing impressive growth in revenue and profit [1][2]. Group 1: Revenue Performance - Baiwei Storage expects to achieve operating revenue of 10.00 billion to 12.00 billion yuan in 2025, representing a year-on-year growth of 49.36% to 79.23% [1]. - The company anticipates fourth-quarter revenue of 3.425 billion to 5.425 billion yuan, with a year-on-year increase of 105.09% to 224.85% and a quarter-on-quarter growth of 28.62% to 103.73% [1]. Group 2: Profit Performance - Baiwei Storage projects a net profit attributable to shareholders of 850 million to 1.00 billion yuan in 2025, indicating a year-on-year growth of 427.19% to 520.22% [1]. - For the fourth quarter, the expected net profit is between 820 million to 970 million yuan, with a quarter-on-quarter increase of 219.89% to 278.43% [1]. Group 3: Growth Drivers - The primary reason for the performance growth is the stabilization and recovery of storage prices starting from the second quarter of 2025, following a significant decline in prices in the previous quarters [2]. - Baiwei Storage is experiencing rapid growth in the emerging AI edge sector and is enhancing its advanced packaging capabilities, with ongoing progress in wafer-level advanced testing projects [2]. Group 4: Market Outlook - The price increase trend for storage products is expected to continue into 2026, with forecasts indicating a 55% to 60% increase in general DRAM contract prices and a 33% to 38% increase in NAND Flash contract prices in the first quarter of 2026 [2].