电子行业周报：25Q2全球DRAM产业营收环比增长，英诺赛科联手英伟达加码数据中心业务-20250909

Investment Rating - The report maintains an "Overweight" rating for the electronics industry, indicating a positive outlook for the sector's performance relative to the benchmark index [1][5]. Core Insights - The electronics semiconductor sector is expected to experience a comprehensive recovery in 2025, with an accelerated clearing and recovery of the competitive landscape, leading to a sustained recovery in industry profitability and related company profits [5]. - Innoscience reported significant performance in H1 2025, with revenue reaching RMB 553 million, a 43.4% increase year-on-year, and a notable improvement in gross margin from -21.6% to 6.8% [3][4]. - The global DRAM industry saw a 17.1% quarter-on-quarter revenue growth in Q2 2025, driven by rising contract prices and increased shipment volumes, with SK Hynix maintaining the largest market share at 38.7% [4]. Summary by Sections Market Overview - The SW electronics index fell by 4.57% in the past week, underperforming the CSI 300 index by 3.76 percentage points, with all six sub-sectors experiencing declines [2][3]. Company Performance - Innoscience's sales in the AI and data center sectors grew by 180% year-on-year, marking it as one of the fastest-growing segments for the company [3]. Investment Recommendations - The report suggests focusing on semiconductor design stocks with real performance and low PE/PEG ratios, as well as key materials for semiconductors, highlighting companies like Tongcheng New Materials and Dinglong Co. [5][6].