Group 1 - The article emphasizes the importance of timely and professional information analysis in investment decision-making, focusing on extracting investment value from significant events and analyzing industry chain companies [1] - The company is involved in server liquid cooling and brain-computer interface technologies, planning to acquire enterprises that serve major computing giants like Nvidia and Intel, with products including UQD and optical module cold plates [1] - The company has developed self-researched chips for AI server power supplies, and its 8-inch silicon carbide power device chip production line is now operational, achieving a monthly production capacity of 10,000 6-inch silicon carbide power semiconductor chips [1]

证券日报网讯1月7日，芯碁微装在互动平台回答投资者提问时表示，AI服务器对高阶PCB的需求激增， 推动上游设备加速向高密度、高精度方向升级。公司激光直接成像(LDI)设备已在高多层板、封装基板 等领域实现批量应用，目前订单排期较为紧凑，公司正全力组织生产，通过优化生产流程、合理调配资 源等方式，确保按时、高质量地交付订单，满足客户需求。 ...

来源：市场资讯 （来源：ETF万亿指数） 前有商业航天，后有存储芯片，一起飞奔去月球？ 存储涨疯了！ 最近，CES大会刷屏了！新产品、新技术、新表态... 黄仁勋的发言备受市场关注，其中一句话--存储市场"需求从未满足"，引爆了相关行情。 隔夜美股存储概念股应声大涨，闪迪（SNDK）+28%、西部数据+17%、美光+10%，希捷科技+14%... 今天A股半导体设备相关板块也集体大涨，半导体设备ETF、科创半导体设备ETF等霸屏涨幅榜。 SK海力士、三星电子新动作 同样，在CES大会上，全球存储巨头SK海力士也有大动作。公司首次公开16层堆叠、容量48GB的 HBM4芯片，这是当前12层36GB HBM3E的下一代产品。 此外，一同展出的还有将于2026年主导市场的12层36GB HBM3E产品，以及搭载该产品的AI服务器 GPU模块。 当前，行业正从HBM3E向HBM4过渡。TrendForce预计，2026年HBM4出货量将占HBM总出货量的 43%。SK海力士在CES首发HBM4，旨在巩固技术领导地位。 涨价潮！除了技术展示，市场动态也呈现出强劲信号。 据韩国经济日报>援引行业消息，三星电子与 SK 海 ...

Core Viewpoint - The recent surge in tin prices is attributed to a combination of macroeconomic factors, supply-demand dynamics, and industry trends, indicating a strong market sentiment and geopolitical risk premium [1][2]. Group 1: Price Movement - The Shanghai tin contract 2602 experienced a significant increase, opening at 348,300 CNY/ton, reaching a high of 364,240 CNY/ton, and closing at 359,050 CNY/ton, marking an increase of 18,180 CNY or 5.33% [1]. - The average price of 1 tin in the Changjiang market rose by 15,200 CNY from the previous day, with current prices ranging from 356,500 CNY/ton to 358,500 CNY/ton [1]. Group 2: Supply and Demand Dynamics - The supply side is characterized by a significant decline in Myanmar's tin production, which has dropped by 87% from its peak in 2018, and a projected 85% decrease in exports to China from January to October 2025 [2]. - Global tin inventories are at historical lows, with LME stocks at only 5,420 tons, creating a challenging supply gap [2]. - On the demand side, while traditional electronics are in a seasonal downturn, the explosive growth in AI server construction and photovoltaic installations is driving a surge in demand for high-grade tin solder and welding materials [2]. Group 3: Industry Performance - Leading companies in the tin industry are showing strong performance, with Tin Industry Co. reporting a 35.99% increase in net profit for the first three quarters of 2025, entering the top 500 listed companies in China [2]. - Other companies like Huaxi Nonferrous and Zijin Mining are also experiencing significant stock price increases and strategic resource collaborations, reflecting the industry's high growth potential [2]. Group 4: Market Characteristics - The current spot market is exhibiting characteristics of "high price with low trading volume," where high prices are significantly suppressing downstream purchasing intentions, leading to transactions primarily driven by rigid demand [3]. Group 5: Short-term Price Forecast - Short-term tin prices are expected to maintain a high oscillation range of 350,000 to 359,000 CNY/ton, with potential corrections if Myanmar's production exceeds expectations or macroeconomic policies change [4].

近期，深圳华强北电子市场掀起一轮罕见的价格风暴——固态硬盘（SSD）、DDR4内存条等存储产品 价格在三个月内普遍翻倍，涨幅甚至超越水贝黄金市场，被部分消费者和商户称为"年度最佳理财产 品"。11月6日， 记者前往华强北走访发现，常见的存储产品价格已出现惊人涨幅。在固态硬盘（SSD） 方面，美国品牌闪迪1TB的SSD零售价已达588元，国产金百捷同容量产品也从260多元涨至415元。韩 国品牌三星1TB的SSD更是涨至1020元，2TB版本涨至1450元，而且多个商家表示三星的没有货。业内 人士指出，本轮存储产品涨价并非消费端驱动，而是AI服务器对HBM、DDR5的"吞噬式需求"重构供需 结构。"这种价格异常上涨，存在较大风险。存储价格的上涨态势预计将持续到明年一季度，并在高位 维持一段时间。"（读创） ...

今天上午收盘，上证指数上涨0.29%，报4095.54点；深证成指上涨0.35%，创业板指上涨0.41%。半导体产业链、有色金属、医药股、算力产业链、煤炭等 板块集体上涨。 冲击4100点。 半导体产业链上午走势最强，三大设备龙头股北方华创、中微公司、拓荆科技均大涨，盘中股价均创历史新高，存储芯片龙头股兆易创新盘中股价也创下 历史新高，这4只个股总市值均超1000亿元。其中，北方华创涨超6%，最新市值为3743亿元，上午收盘价站上500元，为516.66元。 | | 北方华创 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 002371 融 深股通 L1 | | | | | | | 昌 516.66 | 523.97 | 市值 3743.1亿 | | 量比 | 2.30 | | | ਜ਼ਿੰ | 493.00 | 流通 3740.1亿 | | 换 | 1.72% | | | 30.69 6.32% 开 | 493.00 | 市盈 TTM 59.57 | | 额 | 63.57 乙 | | | 相关ETF(2 | | 半导体设备ETF易方达 ...

据长城战略咨询的研究，超聚变2024年估值为89亿美元。 C114讯 1月7日消息（南山）据证监会官网，超聚变数字技术股份有限公司已正式启动上市辅导，中信 证券担任辅导机构。 超聚变成立于2021年，位于河南自贸试验区郑州片区，是主流服务器供应商之一。 过去两年，AI服务器需求火爆，推动超聚变等服务器厂商业绩大涨，市场上不时流传关于超聚变"借壳 上市"、"并购上市"的传闻。据悉，超聚变2024年营收为435亿元，2025年上半年以268亿元销售额跃居 国内服务器市场第二，仅次于浪潮。 天眼查数据显示，中国移动旗下的中移资本持有超聚变15.1427%股份，为超聚变第二大股东。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Insights - The company is a leading supplier of single crystal silicon materials for integrated circuit etching, holding approximately 15% of the global market share. It is expected to benefit from the overall supply chain improvement driven by the storage industry's growth cycle, leading to potentially exceeding performance expectations [1][2] - The company has established a strong position in the semiconductor materials sector since its inception in 2013, with a product matrix that includes large diameter etching silicon materials, silicon components, and large-size silicon wafers. Its integrated R&D and production capabilities provide a sustainable competitive advantage [2] - The demand for large diameter silicon materials is expected to rise due to increased utilization in storage chip manufacturing, particularly as the global tech giants ramp up capital expenditures for computing centers. This trend is anticipated to create structural shortages in storage chip capacity [3] - The company has a stable export market for its large diameter silicon materials, with products already integrated into major domestic etching equipment manufacturers and wafer fabs. Its product range covers 14-inch to 22-inch specifications, catering to a broad customer base across key semiconductor regions [4] Financial Projections - Revenue forecasts for the company from 2025 to 2027 are projected at 450 million, 800 million, and 1.32 billion yuan, representing year-on-year growth rates of 47.2%, 78.5%, and 65.3% respectively. Net profit is expected to reach 100 million, 260 million, and 440 million yuan, with growth rates of 152.9%, 152.8%, and 68.4% respectively [12][14] - The estimated P/E ratios based on the closing price as of January 6, 2026, are 120.9, 47.8, and 28.4 for the years 2025, 2026, and 2027 respectively [12]

不过，长鑫科技尚未盈利。2022年至2024年及2025年上半年，该公司实现的营业收入分别为82.87亿元、90.87亿元、 241.78亿元和154.38亿元，实现的归母净利润分别为-83.28亿元、-163.4亿元、-71.45亿元和-23.32亿元。 随着全球存储芯片市场供不应求情况加剧，DRAM或迎来涨价。 日前，据韩国经济日报消息，三星与海力士已向服务器、PC及智能手机用DRAM客户提出涨价，今年一季度报价将较去 年第四季度上涨60%-70%。 据国金证券预测，2026年DRAM的位元供应量增幅约为15%至20%，而需求增速预计将达到20%至25%。2026年服务器领 域的DRAM和NAND闪存消耗量将同比激增40%至50%，应用于AI服务器领域的增速更快。 另有投行预测，按全年口径计算，今年服务器DRAM的平均销售价格（ASP）最高将同比上涨144%。 在存储芯片涨价风暴席卷全球之际，国内DRAM龙头企业长鑫科技集团股份有限公司（以下简称为"长鑫科技"）也有大 动作，该公司已递交科创板上市申请，保荐机构（主承销商）为中金公司、中信建投证券。该公司也是科创板第一家采 用IPO预先审阅机制申报上市的公 ...

资料来源：聚源，中邮证券研究所 公司基本情况 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 2025-01 2025-03 2025-05 2025-08 2025-10 2026-01 -17% -8% 1% 10% 19% 28% 37% 46% 55% 64% 顺络电子 电子 | 最新收盘价（元） | 36.46 | | --- | --- | | 总股本/流通股本（亿股）8.06 | / 7.57 | | 总市值/流通市值（亿元）294 | / 276 | | 52 周内最高/最低价 | 42.00 / 24.02 | | 资产负债率(%) | 45.3% | | 市盈率 | 34.72 | | 第一大股东 | 新余市恒顺通电子科技 | | 开发有限公司 | | 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 顺络电子(002138) AI 服务器相关订单饱满 l 投资要点 AI 服务器相关 ...