Core Viewpoint - The report from CITIC Securities suggests that the current storage cycle is characterized by "conservative expectations" leading to increased CAPEX from North American CSPs and spillover demand for HDDs, contrasting with the previous cycle which was marked by "strong expectations but weak reality" [1] Group 1 - The storage market's upward trend is expected to continue at least until the second half of 2026 due to low capacity utilization rates in NAND over the past three quarters and cautious CAPEX expectations from overseas manufacturers [1] - There is a recommendation to focus on the demand for enterprise SSDs, highlighting the importance of companies that are rapidly advancing in enterprise-level products and benefiting from price increases [1]