近期以来，多国芯片巨头上调产品报价。据央视财经报道，过去半年，全球存储芯片价格持续上涨。特 别是最近一个月，涨价消息越发密集。 据《科创板日报》不完全统计： 进一步细分来看，在DRAM、HBM普遍昂贵且供给紧张的背景下，NAND有望成为AI时代新一轮主流 存储选择。 据悉，三星电子已着手开展HBF高带宽闪存产品的概念设计等前期开发工作。所谓HBF，是一种类似 HBM的专为AI领域设计的新型存储器架构，区别在于HBF使用NAND闪存代替DRAM。被称作"HBM之 父"的韩国科学技术院（KAIST）教授金正浩指出，当前的人工智能瓶颈在于内存带宽和容量，速度较 慢但容量更高的NAND闪存可以作为补充。 摩根士丹利预计，到2026年NAND闪存将出现高达8%的供应缺口。 此外，群联电子董事长潘健成近日接受采访时表示，SSD将成为大容量存储的主流选择，但目前与HDD 对比，两者占比为2：8，由于SSD新增容量不足，预期2026年起NAND闪存将严重短缺，且未来十年供 应都将紧张。 9月下旬，三星电子发出第四季度提价通知，计划将部分DRAM价格上调15%至30%，NAND闪存价格 上调5%至10%。 NAND闪存控制芯片 ...

4、乘联分会：2024年下半年以来乘用车没有氢燃料车型推出。2025年汽车增程类车型202款，商用车的重卡类增程车型也大量推出。自主传统车 企的有竞争力的新能源车型推出较多。2025年9月的纯电动乘用车续航里程在600公里以上的较多。 投资要闻 （原标题：国庆档电影总票房破11亿元；高市早苗当选日本自民党总裁｜南财早新闻） 今日关注 1、国庆中秋假期过半，各地消费市场繁荣兴旺，生活必需品量足价稳。据商务部商务大数据监测，假期前四天全国重点零售和餐饮企业销售额同 比增长3.3%。 宏观经济 1、交通运输部：10月1日—4日（中秋国庆假期前4日），累计全社会跨区域人员流动量预计12.49亿人次，同比增长5.7%。 2、据猫眼专业版，截至10月4日18时08分2025年国庆档电影总票房（含预售）破11亿元。《志愿军：浴血和平》《731》《刺杀小说家2》列前三 位。 3、音乐节供给数量仍处高位，国庆前三天举办的音乐节数量分别为12、27、22场，累计票房超2.2亿元。不过演出票价正在回落。一季度，最高 票价集中在501—800元区间的音乐节占比14%，同比下降两成。 1、回顾本轮行情，9月港股表现亮眼，恒生科技指数累 ...

人民财讯10月4日电，【10月4日】 高市早苗当选自民党总裁预计将接任日本首相； 2025年国庆档票房破11亿元； 东风汽车：9月新能源汽车销量同比增长20.4%； 特朗普提名的美联储理事再次呼吁大幅降息； 假期前四天全国重点零售和餐饮企业销售额同比增长3.3%； 假期前4日，累计全社会跨区域人员流动量预计12.49亿人次； 今年首个台风红色预警发布"麦德姆"明天将登陆广东电白至海南琼海沿海； 多国芯片巨头上调产品报价摩根士丹利：存储芯片行业将迎超级周期； 今年全国地信产业总产值将增至近万亿元； 隔夜外盘：美股三大指数收盘涨跌不一热门科技股多数下跌。 【10月3日】 海口市拟定于10月4日下午到5日在全市范围内梯次实施"六停"措施； 2025年国庆档票房破9亿元； 商务部：将密切关注墨方调查进展，敦促墨方在调查中严格遵守世贸组织规则，保障中国企业的合法权 益； 港股收评：恒生指数跌0.54%，恒生科技指数跌0.9%； 10月2日，全社会跨区域人员流动量超3亿人次； 假期前两天，全国高速公路新能源车流量同比分别增长26.2%、30.1%； 假期第三天全国铁路预计发送旅客1825万人次； 特朗普：若政府持续"停摆 ...

Core Viewpoint - The article discusses the recent surge in memory prices, particularly DDR4 and NAND, driven by supply constraints, persistent demand, and market panic, indicating a structural shift in the memory industry towards new technologies like DDR5 and HBM [3][4][6]. Summary by Sections Memory Market Overview - The article provides an overview of the memory market in 2023, highlighting the significant price increases in DDR4 and NAND due to various factors [2]. DDR4 Price Surge - DDR4 prices have surged due to a substantial reduction in supply and unchanged demand, exacerbated by market panic and structural adjustments in the industry [3]. - Major manufacturers like Micron and Samsung have announced the end of life (EOL) for DDR4, leading to a drastic cut in supply, with effective production capacity for DDR4 decreasing significantly [3][4]. - Demand for DDR4 remains strong in specific sectors, particularly among North American internet companies and AI-driven businesses in China, with a year-on-year increase in AI server demand of 60%-70% [4][5]. Market Sentiment and Price Dynamics - Market panic has intensified as news of supply shortages spread, leading to hoarding behavior among distributors and a rapid increase in prices, with some DDR4 modules exceeding the prices of DDR5 [5][6]. - The price increase is attributed to a combination of reduced supply, persistent demand, and market fear of shortages, indicating a transitional phase in the industry from older technologies to newer ones [6]. OpenAI and Strategic Partnerships - OpenAI has formed strategic partnerships with Samsung and SK Hynix to support its AI data center project, which aims to significantly increase DRAM procurement [7]. - OpenAI plans to purchase up to 900,000 wafers of DRAM monthly by 2029, which is nearly half of the projected global DRAM capacity by the end of 2025 [8]. NAND Market Insights - The NAND market is experiencing a resurgence due to new demand from AI applications, which require high-speed and high-capacity storage solutions [13][14]. - The shift from HDD to NAND-based solutions is expected to drive further demand, with predictions of significant growth in the NAND market driven by AI-related applications [14][15]. Domestic Memory Companies - Company D is focusing on enterprise SSDs, with significant order growth expected, particularly from major clients like Alibaba and ByteDance [19][20]. - Company J has introduced innovative products tailored for AI data centers and is seeing rapid growth in its self-developed controller chips [22][23]. - Company Z is experiencing strong demand across its product lines, with a focus on DRAM and industrial applications, and plans for an IPO to support its AI and global strategies [25][27].

Core Insights - The global storage chip market is experiencing a new wave of price increases, with Micron Technology signaling potential price hikes of 20%-30% due to surging demand from data centers and supply chain constraints [1][3] - The demand for high-performance storage chips, particularly HBM (High Bandwidth Memory), is growing exponentially driven by the AI revolution, with Micron's HBM orders already booked until 2027 [3][5] - Major investment banks are optimistic about the storage chip industry, with Citigroup and Morgan Stanley highlighting a "super cycle" driven by a 35% annual growth rate in AI data center investments [5] Industry Dynamics - The supply of storage chips is concentrated among three major players: Samsung, SK Hynix, and Micron, but various factors are causing supply constraints, including geopolitical tensions and natural disasters [3][5] - The inventory cycle has reversed after a low in 2023, leading manufacturers to adopt a "low inventory, high turnover" strategy, making them more sensitive to price fluctuations [3] Investment Opportunities - **Leading Storage Manufacturers**: Companies like Micron, Samsung, and SK Hynix are positioned to benefit directly from the price surge, with Micron expected to achieve a gross margin exceeding 55% in fiscal 2025 [7][8] - **Equipment and Materials**: Domestic companies such as Northern Huachuang and Yake Technology are accelerating domestic substitution in the equipment and materials sector, responding to the increased demand for HBM packaging materials [8][9] - **Packaging and Testing**: Companies like Tongfu Microelectronics and JCET are capitalizing on the growing HBM market, with high utilization rates in their packaging capacities [9]