一场全球范围内已打响的存储资源战，正在为中国企业撕开一条万亿通道。 全球人工智能（AI）产业的高速发展吸引了大量顶级资源聚集。近期，因存储产能纷纷涌向AI服务器所需高带宽记忆体（HBM）的供应，多 行业因资源倾斜而出现巨大缺口。 图片来源：视觉中国 手机、电脑、汽车等产品所需的存储产品，因产能不足而价格飙升。这场存储危机让相关公司面临断供和成本压力的同时，也为正在赶超先进 技术的中国存储芯片企业提供了结构性机遇。 今年1月，三星电子联席首席执行官卢泰文表示，全球内存芯片短缺程度前所未有，没有任何行业能独善其身。 电子产品首当其冲，巨头也无法幸免。1月27日，据韩国媒体报道，三星电子在与苹果的谈判中提出，一季度LPDDR（移动设备专用低功耗内 存）芯片价格上涨超80%，而SK海力士的涨幅约为100%。且该谈判仅针对上半年，考虑到内存危机程度，下半年价格可能会进一步上涨。作 为销量以亿计的全球智能手机制造商，苹果的强势议价权不再，不得已接受了大幅涨价。 这场短缺同样发生在NAND（用于长期存储数据的芯片）上，中国企业同样正在补上这一缺口。据Counterpoint数据，长江存储在全球NAND 出货量中所占份额在2 ...

Market Overview - On February 2, the trading volume of the Shanghai and Shenzhen stock markets was 2.58 trillion yuan, a decrease of 250.8 billion yuan compared to the previous trading day [1] - The precious metals and non-ferrous metals sectors experienced a significant decline, while the electric grid equipment and liquor sectors saw notable gains [1] Stock Performance - Notable gainers included: - STR (+5.19% to 2.23 yuan) with a trading volume of 3.49% [2] - *ST Huqing (+5.03% to 8.14 yuan) due to performance expectations and termination of equity transfer [2] - Huangtai Liquor (+9.98% to 17.52 yuan) driven by regional brand strength and shareholder increase [2] - Horizontal Film (+10.00% to 28.05 yuan) benefiting from the Spring Festival box office [2] - Wanfu Co. (+9.99% to 28.30 yuan) due to rising dye prices [2] Stock Declines - High-profile stocks facing declines included: - ST Jinglan with 6 consecutive gains [3] - Deep Technology (-10.00% to 29.24 yuan) due to a downturn in the storage chip sector and significant prior gains [14] - Kaipu Cloud (-20.00% to 195.84 yuan) with a projected net loss for 2025 [17] Institutional Trading - The top three net purchases on the daily leaderboard were: - Zhongchao Holdings with a net purchase of 512 million yuan [5] - Baobian Electric with a net purchase of 436 million yuan [5] - Shuangjie Electric with a net purchase of 308 million yuan [5] - The top three net sales were: - Deep Technology with a net sale of 251 million yuan [6] - Kaipu Cloud with a net sale of 192 million yuan [6] - Tianlong Group with a net sale of 187 million yuan [6] Sector Insights - Zhongchao Holdings is involved in commercial aerospace and high-temperature alloys, with strong demand for transformers and data center orders extending to 2027 [9] - Deep Technology's recent performance has been impacted by stricter customer audits from major storage manufacturers [14] - Kaipu Cloud's projected losses indicate a significant decline in profitability, with expectations of a 139% to 158% decrease in net profit [17]

Investment Rating - The report maintains a "Buy" recommendation, emphasizing an AI-driven upward economic cycle and the search for structural investment opportunities in the electronics industry [1]. Core Insights - The overall upward cycle in 2026 is expected to continue, with AI infrastructure yet to show significant demand-driving effects [4]. - The A-share technology companies are currently in an upward economic cycle, having entered a recovery phase in January 2024 and a prosperous phase in August 2024 [6][11]. - The semiconductor sector is expected to outperform the consumer electronics sector, driven by AI [11]. Industry Performance - The semiconductor and storage sectors are experiencing a cyclical recovery, with AI's focus shifting from infrastructure to connectivity and operational capacity [12]. - The report highlights significant stock price increases for various companies, such as Micron (up 240.1%), Lam Research (up 139.2%), and Intel (up 84.0%) from January 1, 2025, to December 31, 2025 [12]. - A-share technology companies like Industrial Fulian and Huahong Semiconductor have also shown substantial growth, with increases of 194% and 132%, respectively [13]. Market Dynamics - The global semiconductor market has emerged from the previous downturn, with a positive growth cycle expected to persist into 2026 [19][22]. - The report notes that the main growth drivers are AI and rising prices of storage chips, with the industry entering a comprehensive upward trend from August 2024 [26]. - The demand for AI-related products and services is anticipated to increase, particularly in the context of data interconnectivity and GPU localization [43][80]. Downstream Demand - The report indicates that while AI infrastructure remains strong, it has not yet led to a clear increase in downstream demand [39]. - The overall inventory levels in the industry are low, and the demand outlook is still weak, suggesting a cautious approach to investment [39]. AI and Semiconductor Trends - The report identifies two major directions for AI: high-speed PCB and upstream domestic AI GPUs [41]. - The demand for domestic AI GPUs is expected to grow significantly in 2026, although there remains a substantial capacity gap [80]. - The report emphasizes the importance of GPU acceleration and the anticipated explosive growth in GDDR7 demand [64].

来源：中新经纬 2日，A股三大指数开盘涨跌不一，随后震荡下行，集体大跌超2%。截至收盘，沪指跌2.48%，深证成指跌2.69%，创业板指跌2.46%。全市成交额2.61万 亿，超4600只个股下跌。 板块方面，白酒板块领涨；电网设备概念逆势走强；午后食品饮料股局部异动，多股逆势上涨；培育钻石、特高压等板块涨幅居前。 贵金属板块大跌，招金黄金、中金黄金、四川黄金、湖南黄金等十余股跌停；存储芯片概念午后跌势扩大，多股跌停；煤炭板块持续走弱，多股大跌；油 气、农业、半导体芯片等方向跌幅居前。 | L | w A股 | | | | --- | --- | --- | --- | | A股 港股 美股 | 全球 | 商品 | 外汇 》三 | | 已为您生成昨日市场智评 | | | 查看 | | 内地股票 △ ⊙ | | | | | 行情 | 资金净流入 | | 涨跌分布 | | 上证指数 | 深证成指 | | 科创综指 | | 4015.75 | 13824.35 | | 1760.23 | | -102.20 -2.48% | -381.54 -2.69% | | -72.33 -3.95% | | 万得全A | 创 ...

兆易创新封跌停，此前开普云、万润科技、中电港、太极实业、深科技跌停，中微半导、普冉股份、香 农芯创、江波龙等均跌超10%。 (本文来自第一财经) 兆易创新封跌停，此前开普云、万润科技、中电港、太极实业、深科技跌停，中微半导、普冉股份、香 农芯创、江波龙等均跌超10%。 (本文来自第一财经) ...

（文章来源：每日经济新闻） 每经AI快讯，2月2日，存储芯片概念午后跌势扩大，兆易创新封跌停，此前开普云、万润科技、中电 港、太极实业、深科技跌停，中微半导、普冉股份、香农芯创、江波龙等均跌超10%。 ...

Investment Rating - The report maintains a neutral rating for AMD while expressing optimism for Micron Technology and SanDisk due to their strong fundamentals and market conditions [12][15]. Core Insights - NVIDIA plans to invest $100 billion over the next 6-7 years into OpenAI, with a focus on supporting the AI ecosystem and achieving a revenue target of $1 trillion by the end of the decade [1][2]. - The AI chip market is expected to see strong demand in the next 12 months, with NVIDIA holding an 85% market share, which is anticipated to remain stable [6]. - The storage business is closely tied to NVIDIA's performance, with a significant increase in storage chip prices, reflecting a strong market trend [3][13]. Summary by Sections NVIDIA and OpenAI - NVIDIA's investment in OpenAI is seen as a strategic move to bolster its market position and support the AI ecosystem, with no significant credit risk currently [1][2]. - Market concerns regarding OpenAI's data optimism are addressed, indicating confidence in NVIDIA's future performance even if actual data falls short of expectations [5]. AI Chip Market - The AI chip market is not viewed as a zero-sum game, with all manufacturers expected to convert capacity into sales over the next year [6]. - The growth rate for companies in this sector is projected to be between 80% and 100%, driven by strong demand for computing power [6]. Storage Market - The storage segment is highlighted as a strong investment opportunity, with a 90% increase in storage prices in Q1, driven by supply shortages and high demand from large data center operators [3][13]. - Micron is expected to generate approximately $7 billion in free cash flow this quarter, with actual prepayments potentially exceeding this figure [14]. AMD and Competitive Landscape - AMD's collaboration with OpenAI is seen as a potential advantage, but uncertainty remains regarding the competitiveness of its Mi 455 chip against NVIDIA [11]. - The report maintains a neutral stance on AMD while emphasizing the importance of monitoring its performance and execution [12]. Broader Market Dynamics - The report notes that the semiconductor and storage sectors are likely to benefit from NVIDIA's growth and the overall demand for AI technologies [15].

Group 1 - The article highlights significant announcements in the stock market, including "suspensions and resumption of trading, share buybacks, investment wins, acquisitions, earnings reports, unlocks, and high transfers" to help investors identify potential investment hotspots and mitigate risks [1] - A company has stabilized the supply of 800G optical modules using PCB to leading optical module manufacturers both domestically and internationally, indicating strong demand in the optical communication sector [1] - Another company has been involved in low Earth orbit satellite research and development in collaboration with research institutions, achieving quantitative delivery, which showcases its capabilities in the commercial aerospace sector [1] - A company has signed a sales contract for gas turbine generator sets worth over 100 million USD, reflecting growth opportunities in the oil service, data center, nuclear power, and lithium battery industries [1]

【臻选回顾】 1月25日提示《机器人概念+存储芯片+算力+专精特新！公司控股子公司签订13.11亿元半导体测试 设备销售合同》，精智达26日、27日、28日分别上涨1.34%、10.39%、2.65%，3个交易日累计涨 幅接近15%；1月25日提示《存储芯片+数据中心+阿里巴巴概念！公司已取得SK海力士、MTK的代 理权以及AMD的经销商资质，2025年净利同比预增82%-135%》，香农芯创26日、27日、28日分 别上涨3.14%、2.36%、5.00%，3个交易日累计涨幅10.85%；1月26日提示《黄金+铜+有色金属 +小金属+央国企改革！国际金价续创新高，公司拟280亿元巨资拿下国际金矿资源》紫金矿业27 日、28日、29日分别上涨2.81%、4.16%、2.72%，3个交易日累计上涨10%。 面对每晚海量的公告无从下手？《公告臻选》助你高效决策！专业筛选每晚最重要的关键公告，提供通 俗易懂的深度解读，揭示复杂术语背后的投资机会。助你10分钟掌握市场全貌，决胜开盘之前。 前言 ②存储芯片+算力+卫星导航+阿里巴巴概念+专精特新！公司拟定增募资不超9.7亿元，用于集成电路 测试等项目； ③液冷服务器+ ...

本周（1月26日至30日），A股融资余额维持在2.7万亿元高位以上，最新为27222.32亿元（截至1月29日），为历史次高。本周A股融资净买入合计52.79亿 元。 分行业来看，有色金属遥遥领先，融资净买入额高达118.8亿元；基础化工、建筑装饰、医药生物、通信融资净买入额超过10亿元。电子遭到融资大额净 偿还，金额为78.5亿元；机械设备、国防军工紧随其后，融资净偿还额均在30亿元以上。 A股融资余额维持2.7万亿元高位。 这些个股融资客大幅买入 个股方面，本周31股融资净买入额在3亿元以上，紫金矿业、天孚通信、中国平安排名前三，融资净买入额依次为28.73亿元、25.59亿元、12.54亿元。 紫金矿业1月26日公告，公司控股的紫金黄金国际联合黄金签署《安排协议》，紫金黄金国际拟收购联合黄金全部已发行的普通股，其核心资产包括在产 的马里Sadiola金矿、科特迪瓦金矿综合体，及将于2026年下半年建成投产的埃塞俄比亚Kurmuk金矿。根据公开披露信息，截至2024年底，联合黄金拥有 金资源量533吨，平均品位1.48克/吨。 西部证券指出，从短期来看，标的均为在产或即将投产项目，并购当年即可贡献产量，叠 ...