来源：市场资讯 来源：半导体前线 机构认为，南亚科第3季以来受惠客户需求急速升温，DDR4价格一路飙涨，尤其三大原厂纷纷将产能 转为生产DDR5、HBM4等，不易回头生产DDR4，如今DDR4仍占有整体DRAM市场约20%，在庞大供 需缺口带动下，DDR4呈现每月报价调涨态势，助攻南亚科营运。 机构指出，AI服务器需求急速飙升，加上三星、SK海力士、美光三大原厂积极调整产能配置，优先支 持DDR5与HBM（HBM3E/HBM4）生产，使传统DDR4供给快速收敛、供需更形紧俏。 各大内存原厂在2025~2026年主力皆投向新世代产品，导致DDR4产能缩减幅度超过预期。 根据南亚科公告，10月营收79.08亿元新台币，较去年同期成长262.37%；税前净利25.02亿元新台币、 年增781.74%；归属母公司业主净利20.39亿元新台币，年增幅更达1006.38%。 全球DRAM价格自8~9月急速拉升，带动南亚科第三季营收187.79亿元新台币，年增130.9%；税前净利 20.23亿元新台币，较去年同期大幅成长210.67%；归属母公司净利15.63亿元新台币，年增205.16%，营 运已明显脱离谷底、迈入回升 ...

Core Insights - The report highlights the rapid growth in the AI and manufacturing sectors, with specific initiatives launched in Shanghai and Guangdong to promote technological advancements [5]. - The DRAM market has reached a historical quarterly high, indicating strong demand and growth potential in the semiconductor industry [7]. - Several companies have reported significant financial results, showcasing both growth and challenges within their respective sectors [9]. Domestic Financial Market - The report notes a mixed performance in the financial market, with major indices experiencing slight declines despite a high trading volume of 2.59 trillion yuan [11]. - AI hardware stocks remain strong, with Industrial Fulian hitting a record high, while other sectors like military and insurance are undergoing adjustments [11]. Industry Latest Developments - OCP has announced the establishment of a light exchange project, with related stocks including Saiwei Electronics and Lingyun Optics [7]. - The report mentions breakthroughs in manned lunar exploration, with companies like Tianyin Machinery and Aerospace Electronics being highlighted [7]. Company Focus - Weilan Lithium Chip reported a total revenue of 3.727 billion yuan and a net profit of 333 million yuan, marking a 99.09% year-on-year increase [9]. - Zhifei Biological experienced a significant revenue drop of 73.06%, resulting in a net loss of 597 million yuan [9]. - Aimeike achieved a revenue of 1.299 billion yuan with a net profit of 789 million yuan, proposing a dividend of 12 yuan per share [9]. - Shengquan Group reported a revenue of 5.351 billion yuan and a net profit increase of 51.19% [9].

全球三大DRAM厂今年起陆续降载DDR4产能，DDR4产能在下半年出现明显供给缺口，产品报价持续 看涨。业界传出，作风向来保守的南亚科8月价格平均调涨11％～16％，预计第四季度将再涨双位数水 平，南亚科单月转亏为盈的目标有望提前达阵。 法人认为，南亚科今年6月开始产能利用率恢复满载，虽然三大DRAM厂仍持续供应DDR4，但南亚科 报价较具市场优势。 业界指出，三星、美光及SK海力士等全球三大DRAM厂应对DDR5及HBM未来商机，去年起开始陆续 关闭DDR4产能，今年起通知客户逐步减产信息。今年消费性产品吹逆风，但DDR4却出现现货价及合 约报价都同步大幅上涨的明亮前景。 原先就在DDR4市场的南亚科顺势搭上这波涨价商机，平常作风保守的公司更主动出击、调涨合约报 价。供应链透露，南亚科8月1日正式向客户实施新价格，根据不同客户别分别调涨11％～16％不等。 由于DDR4整体市场需求仍大于全球产能，业界推估今年下半年这波DDR4的供给缺口已经达到10％～ 15％，南亚科酝酿第四季度再度上调DDR4的报价，估将可望达到双位数水准。 业界进一步说，DRAM市场近两年因中国大陆消费市场需求锐减，价格走跌，让南亚科截 ...

Core Viewpoint - Counterpoint predicts that Changxin Storage Technology Co., Ltd. (CXMT) will see a 50% year-on-year increase in DRAM shipments this year, with its market share in the overall DRAM market expected to rise from 6% in Q1 to 8% by Q4 [1] Group 1: Product Performance - Changxin Storage is increasing production not only in its traditional products DDR4 and LPDDR4 but also achieving significant growth in DDR5 and LPDDR5 products [1] - The market share of Changxin Storage in the DDR5 segment is forecasted to rise from less than 1% in Q1 to 7% by the end of the year [1] - In the LPDDR5 market, the company's share is expected to surge from 0.5% to 9% [1]