半导体行业并购活跃，存储芯片供需格局变化

Industry Status - Since January 2026, leading domestic semiconductor companies have been actively pursuing asset restructuring, with Huahong announcing a plan to acquire 97.5% of Huali Micro's shares and Zhongwei disclosing a plan to acquire 64.69% of Hangzhou Zhonggu Electronics, reflecting a trend of increasing industry concentration through capital operations [1][3] - Multiple institutions predict that the trend of rising storage prices may continue throughout 2026, with TrendForce forecasting a 14% year-on-year increase in DRAM capital expenditure and a 5% increase in NAND capital expenditure, although capacity expansion remains behind demand [3] Policy Situation - The National Development and Reform Commission announced on January 20 that it is studying the establishment of a national-level merger and acquisition fund, with the semiconductor sector identified as a key support area, potentially accelerating M&A activities in the industry in 2026 [2] Business and Technology Development - At the 2026 CES, companies like NVIDIA and AMD launched new AI computing platforms, driving demand for semiconductor equipment, with SEMI projecting that the global semiconductor manufacturing equipment market will grow to $145 billion [4]