电子：存储板块再迎曙光：DeepSeek加速端侧AI规模化转折点，大厂再现控产

Investment Rating - The industry investment rating is "Outperform the Market" [2][28]. Core Viewpoints - The storage sector is expected to see a revival as demand for edge AI applications grows, driven by advancements in models like DeepSeek, which enhance inference capabilities and reduce costs [4][6]. - Major manufacturers are adjusting capital expenditures and production capacities to align with market demands, particularly focusing on high-end products, which is anticipated to stabilize storage demand starting from Q2 2025 [9][15]. Summary by Sections Supply and Demand - Demand for edge AI is surging, with DeepSeek facilitating the penetration of AI into various applications, leading to a need for small-capacity, high-bandwidth storage solutions [6][9]. - Major manufacturers are implementing production cuts to stabilize market prices, with Samsung and SK Hynix reducing NAND production by approximately 10% and 20% respectively [9][10]. Hardware - The transition from cloud to edge computing is increasing storage capacity requirements, with AI applications necessitating more powerful storage solutions [19][20]. - AI smartphones are now commonly equipped with at least 16GB of DRAM, while AI PCs typically require a minimum of 16GB, often reaching 32GB [20][21]. Investment Recommendations - The report suggests focusing on storage IC design companies like Zhaoyi Innovation and Beijing Junzheng, as well as storage module manufacturers such as Baiwei Storage and Jiangbolong, which are expected to benefit from the production cuts by major manufacturers and the rising demand for enterprise-level storage [25].