中信证券：继续看好存储需求超预期，预计行业供不应求将持续至27H1

Core Viewpoint - The report from CITIC Securities indicates that the storage industry remains in a high state of prosperity, supported by better-than-expected performance and guidance from Kioxia, an increase in NAND contract prices for Q1, and strong earnings announcements from domestic module manufacturer Baiwei Storage for January-February [1] Group 1 - Kioxia's performance and guidance have exceeded expectations since February [1] - NAND contract prices for the first quarter have been raised, indicating strong demand [1] - Baiwei Storage's earnings announcements for January-February have also surpassed expectations, further validating the industry's robust outlook [1] Group 2 - CITIC Securities maintains a positive outlook on storage demand, expecting a supply shortage to persist until the first half of 2027 [1] - The report recommends focusing on storage module companies, original storage manufacturers, and design companies closely aligned with original manufacturers due to their strong short-term performance potential [1]