半导体行业双周报（2025、09、26-2025、10、09）：Sora2有望拉动算力与存储需求-20251010

Investment Rating - The semiconductor industry is rated as "Overweight" [2] Core Viewpoints - The release of OpenAI's Sora 2.0 and its independent social app is expected to significantly boost demand for computing power and storage [3][32] - The semiconductor industry index has shown strong performance, with a cumulative increase of 12.69% over the past two weeks, outperforming the CSI 300 index by 7.99 percentage points [3][10] - The demand for AI infrastructure is expected to remain high, driven by both international and domestic trends, including the ongoing domestic substitution of AI chips and expansion of storage capacity [3][32] Industry News and Company Dynamics - OpenAI launched Sora 2.0, enhancing video generation capabilities and achieving significant improvements in physical accuracy [3][12] - CFM forecasts a price increase of over 10% for server eSSD and DDR5 in Q4 2025 [3][12] - Companies like Zhichun Technology and Bawei Storage are making advancements in semiconductor equipment and are planning to go public to enhance their global presence [3][15][16] - Longchuan Technology expects a net profit of 827 million to 877 million yuan for the first three quarters of 2025, representing a year-on-year growth of 131% to 145% [3][17] - Chip design and storage modules are highlighted as key areas for investment due to their expected growth [3][32] Semiconductor Industry Data Updates - Global smartphone shipments reached 295 million units in Q2 2025, a year-on-year increase of 1.03% [24] - Domestic sales of new energy vehicles in China reached 1.395 million units in August 2025, a year-on-year increase of 26.8% [28] - Global semiconductor sales in August 2025 were $64.88 billion, a year-on-year increase of 21.7% [30] Investment Recommendations - The report suggests focusing on sectors benefiting from the growth in computing power and storage, including computing chips, storage chip design, and DDR5 [32][35]