存储芯片涨价或将贯穿全年 中国产业成“胜负手”

Core Viewpoint - The global storage market is experiencing a price surge due to extremely low inventory levels of DRAM and NAND, with only about 4 weeks of supply remaining, driven by strong demand from AI and computing sectors [1][2]. Group 1: Market Dynamics - SK Hynix reported that its DRAM and NAND inventory is at a historical low of approximately 4 weeks, leading to unmet demand across various sectors including cloud services and consumer electronics [2]. - The company anticipates that storage chip prices will continue to rise throughout 2026, influenced by the explosive demand from AI applications and constraints in cleanroom space for production [2][4]. - The price increases have already begun, with SK Hynix raising prices for high-end products like HBM and DDR5, and further price hikes across all DRAM and NAND products expected [4][6]. Group 2: Financial Performance - SK Hynix's financial results for the fiscal year 2025 showed record revenues of 97.15 trillion KRW and an operating profit of 47.21 trillion KRW, reflecting a profit margin of 49%, driven by rising storage prices and strong demand [3]. Group 3: Industry Trends - The storage industry is witnessing a significant upgrade phase, with cloud service providers increasing investments in AI infrastructure, leading to a rise in the average selling price of high-tech products like HBM and enterprise SSDs [5][6]. - The current storage cycle is expected to be stronger and more prolonged than the previous one, fueled by ongoing high demand from AI [6]. Group 4: China's Role in the Market - The global storage chip supply shortage, driven by AI demand, is creating opportunities for Chinese manufacturers to enter the global supply chain, moving from being an alternative option to a viable choice for major PC manufacturers [7]. - Chinese companies like Yangtze Memory Technologies and Changxin Memory Technologies are emerging as leaders in the storage industry, with expectations of increased production capacity by late 2026 to early 2027, which could stabilize global supply and prices [7][8].