近日，中国证监会对深圳市晶存科技股份有限公司（简称"晶存科技"）出具了补充材料要求，要求核查 公司此前股份代持情形，以及说明员工持股计划的价格公允性等。同时，公司的股东情况、业务经营、 规范运作等问题也受到关注。 据此前报道，9月29日晶存科技在港交所递交招股书。招股书显示，晶存科技成立于2016年，作为一家 全球领先的嵌入式存储产品独立厂商，主要专注于嵌入式存储产品及其他存储产品的研发、设计、生产 和销售。 三、关于业务经营：（1）请说明公司及下属公司经营范围及实际业务是否涉及外商投资准入限制或禁 止领域，本次发行上市及"全流通"前后是否持续符合外商投资准入政策要求；（2）请说明公司及子公 司业务中涉及客户委托第三方付款的安排是否对日常经营造成不利影响，是否对本次发行上市构成实质 性障碍，并就合法合规性发表明确结论性意见。 四、关于规范运作：（1）请说明公司及子公司未足额缴纳社会保险及住房公积金的具体情况，是否构 成重大违法违规，是否对本次发行上市产生重大影响；（2）请说明公司诉讼案件的最新进展，对公司 运营和偿债能力的影响，是否对本次发行上市构成实质性障碍。 五、请公司对照《监管规则适用指引——境外发行上 ...

Group 1 - The market experienced a rebound after a significant decline, but the adjustment in technology growth stocks regarding cost-performance issues has passed the halfway mark, with insufficient time for recovery [2][5][6] - Historical experience suggests that when technology adjustments reach near the bull-bear boundary, it indicates a mid-term bottom area, but there may be a situation of "sufficient amplitude, insufficient time" [2][5][6] - The current adjustment in technology growth stocks has exceeded half of its amplitude, but the time for recovery remains challenging, requiring industry catalysts and performance validation to digest valuations [5][6][7] Group 2 - The spring market is positioned as a potential rebound within a high-level consolidation phase, with effective rebounds in offensive assets (technology and cyclical stocks) likely to occur, but upward breakout logic may be difficult to realize [6][7][8] - The spring market may either be a rebound in the high-level consolidation phase of the bull market 1.0 or a transition from the adjustment phase to a bottom consolidation phase [6][7][8] - The spring market's upper limit may be constrained, as offensive assets are not yet sufficient to lead the market breakout, and the conditions for technology stocks to break upward are stricter [7][8][9] Group 3 - Short-term small rebounds are expected, with the spring market likely to see effective rebounds driven by a "policy bottom" and cyclical price increases, particularly in basic chemicals and industrial technology [8][9] - The overall adjustment amplitude of technology stocks is likely to be sufficient for a widespread rebound, with a focus on sectors like innovative pharmaceuticals and national defense [9] - The Hong Kong stock market continues to exhibit high beta characteristics, with the Hang Seng Technology index showing more substantial adjustments and greater rebound elasticity [9]

2025年11月27日，由全球高科技产业研究机构TrendForce集邦咨询以及旗下全球半导体观察主办的"MTS2026存储产业趋势研讨会"与2026十大科技市场趋势 预测发布暨TechFuture Awards颁奖典礼在深圳圆满落幕。 本次会议汇聚了全球半导体存储与终端应用产业重量级嘉宾、集邦咨询核心分析师团队，以及来自产业链上下游企业的逾千名业界精英。现场气氛热烈，座 无虚席，尽显行业对未来趋势的渴求与关注。峰会当天，线上直播平台更是吸引了超万名业内人士实时关注，共同见证这场年度盛宴。 会议伊始，集邦咨询顾问(深圳)有限公司董事长董昀昶致辞，他首先对与会嘉宾的出席表达了欢迎。针对AI浪潮给存储行业带来的影响，董昀昶先生指出， 虽然AI使存储市场价格波动剧烈但AI并非泡沫，需求真实存在，且已改变高科技制造供应链供给顺序。同时，他表示希望当天的演讲能为嘉宾答疑解惑。 最后他指出集邦咨询成立25年来以专业中立促进行业沟通合作为目标，感谢大家信任并希望未来25年能继续收获业界伙伴的支持。 随后，集邦咨询分析师与行业大咖相继发表精彩演讲，演讲精华汇总如下。 在芯片领域，英伟达仍是AI领域的王者，但同时2026年也将 ...

（编辑 王雪儿） 证券日报网讯 11月28日，同有科技在互动平台回答投资者提问时表示，公司参股的忆恒创源是国内先 进的企业级固态存储厂商，多年来坚持企业级PCIe SSD自主研发和技术创新，在固件开发领域拥有核 心竞争优势，对技术和市场趋势有着深刻的理解，其产品可满足互联网、电信运营商、数据中心等多领 域用户存储需求。 ...

Nov. 27 2025 作为全球先进封装领域的领军者，台积电凭借革命性的CoWoS技术，已成为驱动AI产业高速发展的 核心战略支柱。台积电构建了适配全球AI芯片领导厂商的全场景先进封装解决方案矩阵，尤为关键的 是，面对AI浪潮引发的空前需求激增，台积电积极落实大规模CoWoS产能扩张。这一系列技术革新 与产能升级，为全球AI算力生态的规模化扩张筑牢了坚实根基，有力引领了半导体整合制造行业的高 质量发展方向。 当前，科技浪潮已将我们带至一个智能与信息交汇的变革原点。AI、大数据分析、以及边缘计算等 核心技术，正以前所未见的规模和效率，驱动着全球科技产业实现深刻的转型与飞跃。 每一次技术革新，每一项产品突破，无不镌刻着全球科技领域精英的智慧光芒与非凡成就。 11月27日，由TrendForce集邦咨询主办的"2026十大科技市场趋势预测暨TechFuture Awards 2025 （2025科技未来大奖）"成功举办。TrendForce现场发布了"2026十大科技市场趋势预测"，领域涵 盖了晶圆代工、存储器、AI服务器、第三代半导体、储能、AI机器人等重点科技领域，剖析关键领 域动态，挖掘数据与洞察AI闭环下 ...

每经AI快讯，11月28日，美股存储概念股盘前集体上涨，SanDisk涨超5%，美光科技涨3%，西部数据 涨超2%。 ...

Core Viewpoint - Dongxin Co., Ltd. (688110) has disclosed that its associate company, Shanghai Lishuan, has only signed a framework agreement with a cloud computing service provider and has not yet signed any orders or generated revenue [1][2] Group 1: Stock Performance and Market Reaction - Dongxin's stock price has surged by 337% since the second half of this year, with a recent increase of 35% over the past two trading days, bringing its total market capitalization to approximately 59.3 billion yuan [1] - The trading volume of Dongxin's shares has significantly increased, with a total transaction amount of about 14 billion yuan over the last two days [3] Group 2: Business Developments - Shanghai Lishuan has signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on future collaboration in various fields, but no specific business agreements have been signed yet [2] - The first self-developed GPU chip "7G100" from Shanghai Lishuan is currently undergoing customer sampling and testing, but has not yet generated revenue [3] Group 3: Financial Performance - Dongxin reported a net loss of 35.22 million yuan for the third quarter of 2025 and anticipates remaining in a loss position for the entire year [1][2] Group 4: Market Position and Competition - The global independent graphics card market is dominated by NVIDIA and AMD, creating a highly concentrated oligopoly, while domestic GPU development is still in its early stages and faces significant technological gaps compared to international leaders [3]

Group 1: Market Trends and Supply Chain - The company is the second largest independent memory manufacturer globally and the largest in China, establishing long-term direct cooperation with major memory wafer suppliers through Long-Term Supply Agreements (LTA) and Memorandums of Understanding (MOU) to ensure stable supply of memory wafers [3] - AI technology is driving a surge in storage capacity demand, coupled with tight supply of high-capacity HDDs, leading cloud service providers to shift towards NAND Flash, which is expected to see explosive demand [2] Group 2: Pricing and Sales Strategy - The company determines product sales prices based on industry practices and customer characteristics, using framework agreements and order fulfillment, with prices dynamically adjusted according to market conditions [4] Group 3: Product Development and Performance - As of the end of Q3, the company has deployed over 100 million self-developed main control chips, which utilize advanced foundry processes and proprietary algorithms, leading to significant performance and power consumption advantages [5] - The enterprise storage business is experiencing rapid growth, supported by collaborations with major clients in telecommunications, internet companies, and server manufacturers, with the company ranking third in total capacity for enterprise SATA SSDs in China as of H1 2025, and first among domestic brands [6] Group 4: UFS4.1 Product Commercialization - The company is among a few globally capable of developing UFS4.1 products at the chip level, with its UFS4.1 products recognized for superior process, read/write speed, and stability, accelerating the adoption process with major Tier 1 clients [7]

Group 1: Semiconductor Sector Insights - The focus is on the progress of domestic GPU production, with a significant market opportunity of $50 billion identified by NVIDIA's CEO Jensen Huang for the Chinese market this year [1] - NVIDIA faced challenges in selling chips in China due to U.S. licensing requirements and technical vulnerabilities, resulting in low GPU sales domestically [1] - Despite high demand, domestic supply of GPUs is insufficient, leading to a "supply cannot meet demand" situation [1] Group 2: Market Growth and Supply Dynamics - The overall market is expected to grow significantly, with a projected 50% growth rate, potentially doubling the market size in less than two years [2] - Domestic manufacturers are expanding advanced process capacities, which will likely lead to a rapid increase in GPU supply, similar to NVIDIA's previous growth trajectory [2] - The storage sector is experiencing strong performance due to the AI demand, particularly for HBM used in NVIDIA GPUs, leading to a shift in production focus towards more profitable AI-related products [2][3] Group 3: Storage Market Trends - There is a clear upward trend in DRAM product prices since Q3, driven by AI's demand for storage capacity, with expectations for price increases to continue into the first half of next year [3] - The storage sector's profitability is improving rapidly, and there is a strong expectation for expansion among storage companies, which may lead to new listings in the coming year [3][4] - Investment in semiconductor equipment related to storage is recommended, as companies in this sector are expected to receive more orders due to the anticipated expansion [4] Group 4: Investment Strategies - The current market is characterized by a rotation in sectors, with technology remaining a consensus investment theme among institutions and individual investors [4] - Suggested investment vehicles include semiconductor equipment ETFs, with a focus on those with a high proportion of storage-related assets [4] - Investors are advised to adopt strategies such as dollar-cost averaging to capitalize on long-term growth opportunities in the technology sector [4]

Core Viewpoint - Demingli (001309.SZ), a leading domestic storage module company, plans to raise up to 3.2 billion yuan through a private placement to enhance production capacity and technology in solid-state drives and memory products [1][3]. Fundraising Plan - The company intends to issue no more than 68.07 million shares, raising a total of up to 3.2 billion yuan for various projects, including SSD and DRAM expansion, and establishing a smart storage management and R&D headquarters [3][4]. - The investment amounts for the four projects are 1.123 billion yuan, 747 million yuan, 1.175 billion yuan, and 900 million yuan, with corresponding fundraising allocations of 984 million yuan, 664 million yuan, 652 million yuan, and 900 million yuan [4]. Financial Performance - Since Q3, storage product prices have rebounded, leading to a rapid recovery in Demingli's performance, achieving profitability in Q3 [1][8]. - In 2024, Demingli reported revenue of 4.773 billion yuan, a year-on-year increase of 168.74%, and a net profit of 351 million yuan, up 1302.3% [8]. - For the first three quarters of 2025, revenue reached 6.659 billion yuan, a year-on-year increase of 85.13%, but the company reported a net loss of 27.08 million yuan [8][9]. Shareholder Activity - Important shareholders have reduced their holdings, with the controlling shareholder, Li Hu, and his wife, Tian Hua, collectively cashing out approximately 497 million yuan in September 2025 [10][11][12]. - The stock price has seen significant fluctuations, dropping 29% from a peak of 306 yuan to 217.35 yuan as of November 26, 2025, despite a year-to-date increase of 250.16% [14].