此外，Wedbush将美光科技的目标价从165美元上调至200美元，维持"跑赢大盘"评级。(格隆汇) 消息面上，根据CFM闪存市场预测，随着AI服务器出货规模持续扩大，下半年服务器NAND市场备货 需求升温，手机新品发布将催生新一轮换机需求，叠加存储晶圆原厂兼顾投入产出比的供应策略影响， 四季度存储市场价格将迎来全面上涨。 美光科技(MU.US)涨约5.4%，最高触及168.62美元，创历史新高。 ...

Investment Rating - The report maintains a "Buy" rating for the company, expecting the stock price to outperform the industry index by more than 15% in the next six months [3][20]. Core Views - The company has shown steady growth in performance for the first half of 2025, with revenue reaching 575 million yuan, a year-on-year increase of 11.69%, and a net profit of 205 million yuan, up 43.50% year-on-year [1][2]. - The growth is attributed to the successful sales of high-value products such as DDR5 SPD chips and automotive-grade EEPROM chips, which have effectively countered the decline in traditional business due to fluctuations in consumer electronics demand [2][7]. - The company's gross margin improved to 60.25%, up 5.55 percentage points year-on-year, while the net profit margin reached 34.45%, an increase of 7.69 percentage points year-on-year, indicating enhanced profitability [2]. Financial Summary - Revenue projections show a steady increase from 703 million yuan in 2023 to 2,364 million yuan in 2027, with growth rates of -28.2% in 2023, 46.2% in 2024, and continuing strong growth thereafter [1][12]. - Net profit is expected to rise from 100 million yuan in 2023 to 863 million yuan in 2027, with significant year-on-year growth rates, particularly 189.2% in 2024 [1][12]. - The company's return on equity (ROE) is projected to improve from 4.3% in 2023 to 20.8% in 2027, reflecting increasing efficiency in generating profits from equity [1][12]. Market Position and Product Development - The company is one of the few in the industry with capabilities in both industrial-grade and automotive-grade storage chip design, covering a wide range of capacities [2][7]. - The sales and revenue of automotive-grade storage chips and high-performance industrial-grade storage chips have seen rapid growth, contributing significantly to the company's overall business [2][7]. - The demand for DDR5 SPD chips is driven by the increasing penetration of DDR5 memory modules in AI servers, which require more memory than traditional servers, thus providing a new growth impetus for the company [8].

（文章来源：证券日报） 证券日报网讯中航光电9月18日在互动平台回答投资者提问时表示，公司重点布局高速线缆组件产品， 具备为AI服务器提供全套互连解决方案能力。 ...

Core Viewpoint - The storage chip market is experiencing a price increase, driven by both international manufacturers like Micron and SanDisk and domestic companies such as Jiangbolong, with expectations of a comprehensive price rise in the fourth quarter due to various market demands and supply strategies [1][3]. Group 1: Market Dynamics - Recent announcements indicate that SanDisk has raised product prices by over 10%, while Micron has paused pricing for DDR4, DDR5, LPDDR4X, and LPDDR5X, with potential increases of 20%-30% for channel storage products [3]. - The demand for NAND in the server market is expected to rise as AI server shipments increase, alongside new smartphone releases driving a replacement demand [3]. Group 2: Company Performance - Jiangbolong ranks third in total capacity for enterprise-grade SATA SSDs in China and is the leading domestic brand, with its enterprise-grade PCIe SSD and RDIMM products being adopted by major domestic companies [3]. - As of the end of July, Jiangbolong has deployed over 80 million units of its main control chip series, with rapid growth in deployment scale continuing [3]. Group 3: Product Development - The self-developed UFS4.1 products are currently undergoing validation with multiple Tier 1 manufacturers, indicating a significant increase in deployment scale for the year [4].

格隆汇9月17日｜江波龙在电话会议上表示，根据CFM闪存市场预测，随着AI服务器出货规模持续扩 大，下半年服务器NAND市场备货需求升温，手机新品发布将催生新一轮换机需求，叠加存储晶圆原厂 兼顾投入产出比的供应策略影响，四季度存储市场价格将迎来全面上涨。此外截止至7月底，公司主控 芯片全系列产品累计实现超过8000万颗的批量部署，并且部署规模仍在保持快速增长。搭载自研主控的 UFS4.1产品正处于多家Tier1厂商的导入验证阶段，全年来看，自研主控芯片部署规模将实现放量增 长。 ...

Core Viewpoint - The acquisition of Sorsby by Dongshan Precision is progressing smoothly, with key transaction phases on track as planned [2] Group 1: Acquisition Progress - Dongshan Precision reported that the acquisition of Sorsby is advancing as expected, with core transaction stages proceeding according to schedule [2] - The total transaction amount for the acquisition of 100% of Sorsby Optoelectronics by Dongshan Precision's wholly-owned subsidiary, Chaoyi Group, is not to exceed 5.935 billion yuan [2] Group 2: Production Expansion Plans - Post-acquisition, the focus will be on expanding production capabilities for high-end optical modules (800G, 1.6T) to meet demand and optimize technology iterations [2] - Sorsby's long-term goal is to target the demand for 1.6T optical modules from top global technology clients by 2027, while optimizing production bases to solidify capacity for business growth in 2026 [2] Group 3: Technology Strategy - Sorsby is adopting a dual-track strategy in optical module technology layout, focusing on both EML and silicon photonics solutions [2] - Currently, the EML solution is the primary focus for advancing 800G/1.6T product samples, while also nurturing silicon photonics technology, which offers significant cost advantages in various applications [2]

证券日报网讯顺络电子（002138）9月17日发布公告，在公司回答调研者提问时表示，公司布局钽电容 领域多年，不断投入研发力量，通过材料、工艺、制造方面深厚的积累，已经开发出全新工艺的新型结 构钽电容产品，公司新型结构钽电容产品目前采用无引线框结构、PCB封装，实现大容值产品尺寸及性 能的大幅改善，可以广泛应用于通讯、消费电子、汽车电子、数据中心、工控等领域。其中，钽电容产 品的特性十分符合AI服务器领域对高温工作环境、高电压稳定性的要求，同时，公司为客户开发新型 结构钽电容也满足了客户对电容产品小型化、薄型化、高容值的要求。目前公司的钽电容产品已为客户 配套供应产品线，客户认可度高，未来发展可期。 ...

证券日报网讯顺络电子（002138）9月17日发布公告，在公司回答调研者提问时表示，随着AI服务器对 数据存储、信息处理和传输的要求持续提升，整个系统的功率要求同步提高，而单位算力的继续增长， 提升了对AI服务器中各类xPU芯片功率的要求，也对周边元件产品的散热能力和功率密度提出了更高的 要求，基于AI服务器客户对元器件产品继续提高功率承接能力、提升瞬态响应速度的要求，传统的VR 结构难以满足大电流的负载的快速变动，电路中的TLVR概念应运而生。在AI服务器功率持续提升的发 展趋势下，TLVR拓扑的产品应用将进一步打开。各类工艺下的TLVR电感产品相较于非TLVR类型的AI 电感，性能和单价均显著提升，未来将对AI服务器中磁性器件的价值量提升带来显著变化。顺络已提 前布局TLVR结构的各类型电感产品，走在行业前沿，随着客户需求发展，未来几年，数据中心业务将 进入快速发展通道。 ...

FORTIOR(01304)午前涨超11%，高见197.8港元创上市新高。截至发稿，涨10.16%，报196.3港元，成交 额1.24亿港元。 公开资料显示，FORTIOR(峰岹科技)是一家芯片设计公司，专注于BLDC电机驱动控制芯片的设计与研 发。根据弗若斯特沙利文的资料：集团是中国首家专注于BLDC电机驱动控制芯片设计的芯片设计厂 商；及截至2023年12月31日，集团在中国BLDC电机主控及驱动芯片市场的份额达到4.8%(按收入计)， 排名第六，且集团为该市场前十大企业中唯一的中国企业。 华泰证券指出，公司作为国内领先的BLDC电机驱动控制芯片供应商，将充分受益在AI服务器、机器人 等高速增长领域的深度布局，且进一步拓展至传感器等领域将打开第二成长曲线。西部证券（002673） 也表示，25年上半年公司研发并推出传感器产品，实现了产品类型的拓展，随着公司传感器产品的面世 和市场导入，预计将带动公司未来增长曲线。 ...

一次电源以大型功率类的器件为主，应用于交直流电转换、高低电压转换等应用场景。公司从车规级大功率器件业务出发，以强大的设计能力，以产品的高 可靠性、一致性，为AI服务器的应用场景定制生产各类配套产品。 二次电源为48V转12V直流供电，顺络各类电感、变压器产品为客户解决供电难题。三次电源中，顺络提供的各类元器件产品为xPU芯片（CPU、GPU、 ASIC）、网卡、内存、SSD等应用场景供电，产品包括各类工艺的新型AI电感（组装/铜磁共烧/模压/一体成型工艺）、钽电容产品及多种类配套产品等。 从传统服务器向AI服务器升级的过程中，CPU、GPU、ASIC芯片周边的功耗快速提升，对元器件的性能、功率密度、散热系数等均提出的更高的要求，顺 络电子基于对材料、设备、设计、制造工艺的能力，把握住产业机会，为功率半导体类客户及各类AI服务器类客户提供一站式元器件解决方案。 近日，顺络电子在接受机构调研时表示，目前公司AI服务器相关的订单饱满，相关业务快速增长。 数据中心是顺络电子战略布局新兴战略市场之一，公司立足于小型化、高精度、高功率密度技术优势，从服务器整体供电架构出发，为客户供应从一次电 源、二次电源、三次电源（各类 ...