Biwin Storage Technology (SH:688525) Dong Jian Yan Bao·2025-03-06 01:11Investment Rating - The report does not explicitly state an investment rating for the semiconductor industry or the specific company being analyzed [1]. Core Insights - The semiconductor industry is experiencing significant growth driven by advancements in information technology, including IoT, big data, AI, and 5G, which are increasing the demand for high-end storage solutions [22][23]. - The global storage market is projected to grow to $263 billion by 2027, fueled by the continuous growth of data centers, cloud computing, and the recovery of the global semiconductor supply chain [23]. - The domestic market for storage chips is expected to see a substantial increase in localization rates due to market and policy support, indicating a promising future for the domestic storage industry [23]. Summary by Sections 1. Research Overview - The research was conducted on February 28, 2025, focusing on the semiconductor industry, specifically the company Biwin Storage [1][13]. 2. Participating Institutions - Various institutions participated in the research, including Haitong Securities, Zhongou Fund, and others, indicating a diverse interest in the semiconductor sector [14][15]. 3. Main Content - The onsite research included a visit to Biwin's packaging and testing manufacturing center in Huizhou, where the company showcased its product advantages in the consumer PC market, including high-performance SSDs and memory modules [19][20]. - Biwin's SSDs can achieve transmission speeds of up to 7,450 MB/s, placing them at the forefront of the industry, with a strong customer base including major PC manufacturers like HP and Lenovo [20]. - The company has established long-term partnerships with major storage wafer manufacturers to ensure a stable supply of storage wafers [21]. - Biwin has developed a comprehensive product matrix for automotive storage, meeting AEC-Q100 reliability standards, and aims to become a key player in the automotive storage market [21][22]. - The company possesses core firmware technology capabilities, allowing it to provide innovative storage solutions tailored to various customer applications [22].