Jin Rong Jie·2026-01-27 07:30Core Viewpoint - The report from Guosheng Securities indicates that Shangnon Chip's enterprise-level storage product sales are expected to grow significantly by 2025, with a projected revenue increase of over 40%, exceeding 34 billion yuan [1] Financial Performance - The company is forecasted to achieve a net profit attributable to shareholders of between 480 million to 620 million yuan, representing a year-on-year growth of 81.77% to 134.78% [1] - The growth in performance is primarily driven by the high demand for storage products due to AI, leading to a sustained price increase [1] Product Development - The company's proprietary brand, Haipu Storage, is entering a phase of increased production starting from Q4 2025, contributing to profitability [1] - The combination of the ramp-up in Haipu Storage and the ongoing price increase cycle in the storage market supports the upward revision of profit forecasts for 2026 and 2027 [1] Market Outlook - The company is optimistic about the growth opportunities in its electronic components business and the increased demand for storage products driven by AI [1] - The report maintains a "Buy" rating for the company, reflecting confidence in its future performance [1]