近日存储大厂向终端客户更新DDR、LPDDR、NAND、eMMC最新价格,涨幅20%-46%不 等，具体如下： DDR4: 16Gb 最新价格18$,涨幅20% 64GB 最新价格13.2$,涨幅20% 32GB 最新价格7.2$,涨幅20% 8Gb 最新价格8.1$,涨幅11% 4Gb 最新价格3.7$，涨幅19% LPDDR4/4x 最新价格$1.1/Gb，涨幅46.7% LPDDR5/5x 最新价格$0.62/Gb，涨幅29.2% V-NAND: 128GB 最新价格11.4$,涨幅30% 64GB 最新价格7.2$,涨幅33% 32GB v6 最新价格6.5$,涨幅39% eMMC: 16GB 最新价格6.2$,涨幅29% 8GB 最新价格4.55$,涨幅38% 4GB 最新价格4.45$,涨幅39% 兆易创新 LPDDR 发力 兆易创新 在 2025 年第三季度业绩说明会上表示，企业明年将实现自研 LPDDR4X 系列产品 的量产，并着手规划 LPDDR5 小容量产品的研发，同时兆易创新存储业务目前并无 DDR5 产 品的相关规划。 今年第三季度，兆易创新收入同比增长 31.4% 至 26.8 亿元 ...

证券研究报告：电子 | 公司点评报告 股票投资评级 买入 |维持 个股表现 2024-11 2025-02 2025-04 2025-06 2025-09 2025-11 0% 8% 16% 24% 32% 40% 48% 56% 64% 72% 晶晨股份 电子 分析师:万玮 SAC 登记编号:S1340525030001 Email:wanwei@cnpsec.com 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 晶晨股份(688099) 持续挖掘端侧 AI 应用潜力，业绩增长可期 l 事件 公司发布 2025 年三季报，前三季度公司实现营业收入 50.71 亿 元，同比增长 9.29%，归母净利润 6.98 亿元，同比增长 17.51%。 资料来源：聚源，中邮证券研究所 l 投资要点 公司基本情况 | 最新收盘价（元） | 88.88 | | --- | --- | | 总股本/流通股本（亿股）4.21 | / 4.21 | | 总市值/流通市值（亿元）374 | / 374 | | 52 周内最高/最低价 | 112.74 / 63.4 ...

证券研究报告：电子 | 公司点评报告 股票投资评级 买入 |维持 个股表现 2024-11 2025-02 2025-04 2025-06 2025-09 2025-11 -12% -5% 2% 9% 16% 23% 30% 37% 44% 51% 58% 艾为电子 电子 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 71.82 | | --- | --- | | 总股本/流通股本（亿股）2.33 | / 1.36 | | 总市值/流通市值（亿元）167 | / 97 | | 52 周内最高/最低价 | 99.30 / 61.23 | | 资产负债率(%) | 22.9% | | 市盈率 | 65.29 | | 第一大股东 | 孙洪军 | 研究所 分析师:万玮 SAC 登记编号:S1340525030001 Email:wanwei@cnpsec.com 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 艾为电子(688798) 拟发行可转债，端侧 AI、汽车电子布局加速。随着 AI 技术向纵 深发展，智能终端的 AI ...

此 前 ， Gyges Labs 还 曾 获 得 金 沙 江 创 投 的 投 资 。 金 沙 江 创 投 主 管 合 伙 人 朱 啸 虎 彼 时 表 示 ： "Gyges Labs的DigiWindow技术相比其他等方案，有着一个非常重要的优势：它的显示模组隐 形，能把内容投到眼睛，成本很低。这种技术能极大拓宽信息提示型智能眼镜的使用场景，也能帮助 眼镜厂商进行智能化升级。很 看好大模型落地AI智能硬件这个方向，和PC互联网那一代很像。那一 代当初也是硬件出来一波机会，这一波先出来的肯定也是硬件机会，硬件会比消费端APP先出来。" 持续聚焦「超人装备」矩阵。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，Gyges Labs近期完成Pre-A+轮融资，本轮投资方为Granite Asia与璀璨资 本。本轮融资将重点用于拓展更多元的"超人装备"（AI可穿戴产品），相关新品计划于2026年初起 陆续亮相。 作为一家专注于"AI可穿戴"的创新企业，Gyges Labs的核心逻辑是将人工智能技术深度融入各类穿 戴设备，通过技术突破与场景实用的结合，实现商 ...

Core Viewpoint - The company, Purun Co., Ltd. (688766.SH), plans to acquire a 31% stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. for 144 million yuan, increasing its ownership to 51% and achieving control over the company, which indirectly controls SkyHigh Memory Limited (SHM) [1][3]. Group 1: Acquisition Details - The acquisition aims to enhance the company's core competitiveness in the memory chip sector, expand its product line, and deepen business synergies [1]. - Following the acquisition, the company expects to tap into a potential market space of approximately 8 billion USD, combining the SLC NAND and eMMC markets [4]. Group 2: Market Context - SHM, established in December 2018 as a joint venture between SK Hynix and Cypress Semiconductor, focuses on high-performance 2D NAND and derivative memory products, with a strong competitive edge in firmware algorithm development and customized services [3]. - The global SLC NAND market is projected to grow from approximately 2.31 billion USD in 2024 to 3.44 billion USD by 2029, driven by applications in AI and automotive electronics [3]. Group 3: Strategic Integration - The integration with SHM is expected to create synergies across product, market, and technology dimensions, enhancing the overall technical strength and solution competitiveness of the company [4]. - The company plans to extend its market focus from primarily China to a global customer base, leveraging its existing product lines alongside SHM's offerings [4].

Core Viewpoint - Gyges Labs, an AI wearable technology company, has completed a new round of financing to support product development and supply chain investments, highlighting its focus on innovative smart wearable devices [5][12]. Company Overview - Gyges Labs was established in 2022 and is headquartered in Singapore, with a software and AI team based in Silicon Valley. The company leverages China's supply chain advantages and possesses unique technologies in advanced optics and active AI [5]. - The founding team includes members from prestigious universities and companies, with significant experience in the tech industry, including the development of the first AR smart contact lens [5]. Product Launch - The first product, HallidayGlasses, is set to launch in January 2025 and is positioned as the world's first invisible display AI glasses, which has already become the largest AI glasses crowdfunding project [6][10]. Technology Features - HallidayGlasses utilize the proprietary DigiWindow technology, which projects content directly onto the retina, making it invisible to outsiders. This allows for various applications such as AI translation and navigation [8][10]. - The glasses weigh only 28 grams, have a battery life of up to 12 hours, and support vision correction from -800 to +800 degrees. They are designed to look and feel like regular glasses, addressing the challenge of all-day wear [10]. Future Development - Gyges Labs plans to continue enhancing its optical and AI capabilities while exploring additional wearable smart devices beyond glasses, including independent rings starting in 2026 [11]. Investor Insights - Investors from Granite Asia and璀璨资本 express confidence in Gyges Labs' ability to integrate cutting-edge AI into everyday scenarios, viewing the company as a key player in the future of human-computer interaction [12].

Core Viewpoint - The rapid advancement of generative AI and large models contrasts with the slow commercial adoption, as evidenced by a recent decline in the percentage of U.S. companies using paid AI products [2][3]. Group 1: AI Project Challenges - Approximately 90% of vertical enterprises do not truly understand AI, leading to ineffective implementation without tailored models [3]. - The telecom industry has historically absorbed new technologies, and AI is seen as the next evolution, with significant advancements expected by 2025 [3]. Group 2: Future of AI and Agent Technology - The AI industry is at a crossroads, with a shift from foundational model development to large-scale application deployment, raising questions about the future of basic model research [6]. - There is a consensus that future AGI will rely on world models that integrate multiple modalities, although specific applications may require tailored models for efficiency [6][7]. - The development of specialized models for various industries is viewed as a practical approach to achieving commercial viability before moving towards universal models [7]. Group 3: Agent Technology Implementation - By 2025, agent technology is expected to become a core trend, with practical applications emerging across various industries, including healthcare and education [8]. - Current implementations of agent technology have demonstrated effectiveness, with plans for broader deployment in 2026 [8]. - Challenges remain in integrating agents into existing workflows, primarily due to limitations in multi-modal capabilities of large models [8][9]. Group 4: Computational Power and Industry Growth - The AI industry faces ongoing challenges related to computational power, with domestic GPU companies accelerating their development to address these needs [9]. - As computational issues are resolved, significant advancements in multi-modal models and agent technology are anticipated [9][10]. Group 5: Consumer Acceptance and Market Trends - Consumer acceptance of AI products is increasing, with a shift towards deploying AI capabilities from cloud to edge devices [9][10]. - The mobile AI sector is expected to see rapid growth, with small models achieving high accuracy in practical applications [11]. Group 6: Humanoid Robots and Industry Development - Humanoid robots are still in the exploratory phase, with significant technical challenges remaining before widespread commercial deployment [12][13]. - The manufacturing of humanoid robots involves complex components, with a focus on developing autonomous control capabilities as a critical bottleneck [13]. - The path to commercial viability for humanoid robots is expected to begin in industrial settings before expanding to consumer applications [14][15].

2025年前三季度通信(申万)行业营收合计为19549亿元，同比+3.3%;归母净利润合计为1943亿元，同比 +9.0%。2025Q3行业营收合计为6313亿元，同比+3.7%;归母净利润合计为567亿元，同比+12.1%。成分 股业绩增速区间分布来看，通信板块利润端表现分化程度大于营收端。 截至2025年11月20日，通信(申万)指数自年初以来累计上涨58.8%，在31个申万一级行业中排名第2，市 场表现显著超越同期大盘，细分领域中北美AI、国产算力、物联网、海光缆、5G、运营商板块自2025 年初以来累计涨跌幅分别为265%、65%、52%、48%、37%、-1%。 整体业绩持续增长，利润端增速高于营收 智通财经APP获悉，东方财富证券发布研报称，2025年前三季度通信行业整体业绩延续增长趋势，盈利 能力稳中有升。细分领域中，运营商增长稳健，北美AI、国产算力、物联网、北斗等板块业绩增速较 高，5G、军工通信、海光缆等领域相对承压。展望2026年，综合考虑行业景气度及公司核心竞争力对 业绩的影响，建议关注光模块、铜互连、交换机、温控及电力配套设备、IDC机房、端侧AI、机器人方 向、运营商。 东方财富证 ...

Core Viewpoint - Guanghe Tong (300638) has seen a significant decline in its stock price, reaching a new low since its listing, following its inclusion in the Hong Kong Stock Connect program, with a cumulative drop of over 20% since November 17 [1] Financial Performance - For the first three quarters of 2025, Guanghe Tong reported a revenue of 5.366 billion yuan, a year-on-year decrease of 13.69%. Excluding the impact of the wireless communication module business from Ruilin, the revenue from continuing operations increased by 7.32% [1] - The company achieved a net profit attributable to shareholders of 316 million yuan, down 51.50% year-on-year. Excluding the impact of the Ruilin wireless communication module business, the net profit from continuing operations decreased by 2.19% [1] Strategic Initiatives - Guanghe Tong is actively cultivating new growth areas in the AI and robotics sectors. In the AI toy segment, the company offers mature solutions, including communication modules, MagiCore chip box solutions, and complete products tailored to customer needs [1] - In the AR glasses segment, the company is accelerating large-scale implementation in collaboration with leading clients [1] - The robotics business focuses on two main directions: lawn mowing robots and embodied intelligent robots [1]

据浙商证券，广和通积极培育在端侧AI及机器人领域的全新增长极。AI玩具方面，公司具备成熟解决 方案，可根据客户需求提供通讯模组、MagiCore机芯盒方案和整机产品；AR眼镜方面，合作头部客户 加速规模化落地；机器人业务方面，包括割草机器人和具身智能机器人两个业务方向。 智通财经APP获悉，广和通(00638)跌近6%，触及15.4港元创上市新低，该股自11月17日起正式获纳入 港股通，至今累计跌幅超两成。截至发稿，跌5.77%，报15.51港元，成交额2784.11万港元。 消息面上，上交所、深交所此前公布，广和通被调入港股通名单，自11月17日起生效。广和通2025年三 季报显示，该公司前三季度实现营业收入53.66亿元，同比减少13.69%，剔除锐凌无线车载前装无线通 信模组业务的影响，持续经营业务营业收入同比增长7.32%；实现归母净利润3.16亿元，同比减少 51.50%，剔除锐凌无线车载前装无线通信模组业务的影响，持续经营业务归属于上市公司股东的净利 润同比下降2.19%。 ...