中国在存储半导体领域提高存在感

Core Viewpoint - China's presence in the storage semiconductor sector is significantly increasing, with Yangtze Memory Technologies Co. (YMTC) achieving a global NAND market share exceeding 10% for the first time, driven by government support and technological advancements [4][5]. Group 1: NAND Market Developments - YMTC's NAND sales share reached 10% in Q1 2025 and increased to 13% in Q3 2025, closing in on Micron Technology, the fourth-largest player globally [5]. - The company aims to achieve a 15% market share by the end of 2026, with plans for factory investments around Wuhan, which could lead to a global supply share of approximately 20% [7]. - YMTC's technology has advanced to about 270 layers, comparable to Samsung Electronics, and it has adopted cost-reduction methods not yet utilized by competitors [5][4]. Group 2: DRAM Market Developments - Changxin Memory Technologies (CXMT) has expanded its market share in the DRAM sector to 8% in Q3 2025, up from 6% in the same period of 2024, positioning it as the fourth-largest globally [8]. - CXMT is focusing on increasing production of general-purpose products for PCs and smartphones, holding around 40% of the domestic market share in China [8]. Group 3: Competitive Landscape and Pricing - Chinese NAND products are approximately 10-20% cheaper than those from other countries, giving them a competitive edge [10]. - Despite the technological gap in high-bandwidth memory (HBM) where Chinese firms lag by about five years, the price advantage may lead to increased adoption of Chinese semiconductors by other countries [10][11]. - The U.S. government has restricted YMTC's access to design technology, impacting its ability to expand in markets outside China [10]. Group 4: Market Dynamics and Future Outlook - The smartphone market in China is projected to grow by 6% in 2024, reaching 286 million units, which could influence the sales of companies like Kioxia, as a significant portion of their sales is directed towards China [10]. - Concerns regarding quality and safety have led Japanese companies to be cautious in adopting Chinese storage semiconductors, although other sectors like solar panels and electric vehicles are seeing success due to competitive pricing [11].