(责任编辑：宋政 HN002) | 代码 | 名称 | . | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 688347 | 华虹公司 | 每 | 13.48 | 2256亿 | 179.75 | | 300475 | 香农芯创 | 中 | 10.19 | 466亿 | 253.63 | | 000021 | 深科技 | 中 | 10.01 | 481亿 | 62.63 | | 002156 | 通富微电 | 台 | 10.01 | 671亿 | 49.80 | | 603283 | 塞腾股份 | 1 | 10.00 | 145亿 | 6.36 | | 600667 | 太极实业 | | 9.95 | 187亿 | 31.22 | | 002409 | 雅克科技 | | 9.23 | 383 Z | 40.32 | | 688008 | 澜起科技 | � | 6.91 | 1895 Z | 144.97 | | 301308 | 江波龙 | 每 | 5.32 | 786亿 | 118.02 | | 688627 | 精智达 | ...

格隆汇10月1日｜美光科技(MU.US)盘初拉升涨超4%，报174.2美元，创下历史新高。 9月，存储市场的第二轮涨价信号枪再度打响。闪迪宣布将面向所有渠道和消费者客户的产品价格上调 10%以上。近日，美光科技向渠道商发出通知，宣布其存储产品价格将上涨20%-30%。从9月12日起， 所有DDR4、DDR5、LPDDR4、LPDDR5等存储产品全部停止报价，协议客户价格全部取消，暂停报价 消息面上，全球存储芯片市场迎来新一轮价格飙升，此次涨价潮由供需失衡、技术迭代与地缘政治多重 因素驱动，国内外市场反应强烈，机构普遍看好行业未来两年景气度。 分析人士认为，存储芯片主要还是受价格驱动。2025年存储市场的第一轮涨价潮始于4月初，彼时闪迪 向客户发出涨价函，打响今年存储芯片涨价第一枪。 一周。 ...

Core Viewpoint - The A-share market for storage chip stocks has strengthened significantly due to supply tightness and surging demand from cloud enterprises, leading to notable price increases and stock performance in the sector [1]. Group 1: Market Performance - Yachuang Electronics saw a nearly 11% increase in stock price, while Demingli rose over 8% [1]. - Other companies such as Jingzhida, Zhaoyi Innovation, and Lianyun Technology experienced gains exceeding 6% [1]. - The overall trend indicates a robust performance in the storage chip sector, with several companies achieving substantial year-to-date growth percentages [2]. Group 2: Price Adjustments and Supply Dynamics - Major storage module manufacturer Adata announced a halt on DDR4 pricing starting from the 29th, prioritizing DDR5 and NAND flash supply to key customers [1]. - Samsung Electronics raised its memory product prices by 30%, while NAND flash prices increased by 5% to 10% [1]. - Micron Technology informed customers of a price hike ranging from 20% to 30% [1].

Core Insights - The report from CITIC Securities indicates that mainstream storage and niche DRAM prices are rising, with expectations for revenue growth among major storage manufacturers in Q2 2025 and a profitability turning point for storage module manufacturers [1] - It is anticipated that storage prices will maintain an upward trend in Q3 2025, particularly for DDR4 and DDR5 memory [3] Price Review - DRAM prices have shown a moderate increase for DDR5, while DDR4 prices have surged due to accelerated production cuts by manufacturers, with DDR5 contract prices rising approximately 2% and DDR4 prices increasing by 30% on average in May [1][2] - The average price increase for DDR4 8/16Gb chips in May exceeded 30% due to urgent procurement by downstream customers [1] NAND Flash Market - The reduction in production by manufacturers has led to a mild increase in NAND Flash prices, with TLC wafer prices rising by 6% to 14% in March, and SSD prices following suit [2] - Demand for enterprise SSDs continues to rise, particularly from North American CSP manufacturers [2] Price Outlook - For Q3 2025, DDR5 and NAND prices are expected to rise moderately, while DDR4 prices are projected to increase by 8% to 13% [3] - TrendForce forecasts that DDR4 PC/server memory module prices will rise by 18% to 23% and 8% to 13% respectively in Q3 2025 [3] - NAND Flash wafer prices are expected to increase by 3% to 8% in Q2 and 5% to 10% in Q3 2025 [3] Module Pricing - DDR5 memory prices have remained stable, while DDR4 prices have surged by 20% to 64% in the industry and channel markets [2] - SSD prices have seen a slight decline of 3% to 0% in the same period, while mobile storage prices have increased moderately by 0% to 14% [2]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report indicates that the price cycle, AI industry trends, and tariffs are expected to drive continuous increases in storage chip prices. DRAM and NAND prices have shown an upward trend, with significant price increases reported in May and June 2025. Major storage manufacturers have announced production cuts, while demand from cloud service providers remains robust, leading to a sustained expansion of the storage market [3][4]. Summary by Sections Price Trends - DRAM prices have risen significantly, with the price of 8GB DDR4 memory chips increasing from $1.65 in April to $2.10 in May, representing a 27% increase. In June, prices continued to rise, with Micron reporting a 50% price jump for DDR4. Samsung's 8GB DDR4 chips reached $4.8, well above the average of $3.3. The report anticipates a quarterly price increase of 18%-23% for server DDR4 and 13%-18% for PC DDR4 due to production cuts and tariffs [4]. Demand Drivers - The storage module is crucial in the AI industry, with strong demand from data centers and servers. Overseas cloud providers maintain high capital expenditures, and domestic cloud firms are increasing their investments, which is expected to boost the market for storage modules. The report highlights that the domestic market is likely to see a dual benefit of market scale and increased localization rates [5]. Beneficiary Companies - The report identifies several companies that are expected to benefit from these trends, including storage module manufacturers such as Demingli, Jiangbolong, and Baiwei Storage, as well as advanced storage firms like Zhaoyi Innovation and Hengshuo Co. Additionally, edge-side NAND/Nor flash manufacturers such as Zhaoyi Innovation and Beijing Junzheng are also highlighted [6].

Core Insights - The storage manufacturers have announced a reduction and transition in production of DDR4 and LPDDR4X for over six months, leading to significant adjustments in capacity [1] - The current supply of certain DDR chips and LPDDR4X resources in the spot market is tight, indicating a shift in market dynamics [1] - Mobile clients have maintained relatively healthy inventory levels, while PC OEMs have gradually reduced their inventory after a prolonged adjustment period [1] - Recent replenishment of inventory by mobile and PC end customers has driven an increase in prices for DDR4 and low-capacity embedded LPDDR4X this week [1]