半导体行业双周报（2025、12、26-2026、01、08）：内资存储龙头拟募资扩产，有望拉动设备、材料需求-20260109

Investment Rating - The semiconductor industry is rated as "Overweight," indicating that the industry index is expected to outperform the market index by more than 10% over the next six months [37]. Core Insights - The semiconductor industry index has shown strong performance, with an increase of 8.79% over the past two weeks and a cumulative rise of 9.81% since the beginning of 2026, outperforming the CSI 300 index by 6.74 and 7.49 percentage points respectively [3][10]. - Key developments in the industry include support from eight government departments for breakthroughs in high-end training chips and AI server technologies, as well as significant price stability in DDR4 and DDR5 memory products led by Kingston [12][13]. - Longxin Technology has submitted its IPO application, aiming to raise 29.5 billion yuan for projects related to DRAM technology upgrades, with a projected revenue of 55 to 58 billion yuan for 2025 [17][30]. Industry News and Company Dynamics - The industry is witnessing a tight supply-demand situation in storage, prompting major cloud service providers to initiate bundled negotiations for 2027 supply contracts [15]. - Intel has launched its third-generation Core Ultra processors, marking a significant advancement in AI PC platforms [14]. - Companies like Dinglong and Guoxin Materials are making strides in semiconductor materials, with Dinglong's high-end photoresists receiving validation from major wafer fabs [20][22]. Semiconductor Industry Data Updates - Global smartphone shipments reached 323 million units in Q3 2025, reflecting a year-on-year growth of 2.09% [24]. - Domestic sales of new energy vehicles in China reached 1.823 million units in November 2025, marking a 20.6% year-on-year increase [26]. - Global semiconductor sales amounted to $72.71 billion in October 2025, with a year-on-year growth of 27.2% [27]. Investment Recommendations - The report highlights Longxin Technology as a key investment opportunity, given its leading position in the DRAM market and plans for significant capital investment to enhance production capabilities [30][31]. - Other recommended stocks include North Huachuang, Zhongwei Company, and others in the semiconductor equipment and materials sector, which have shown strong revenue growth [33][34].