每经记者｜朱成祥 每经编辑｜张海妮 继紫光展锐之后，半导体行业再迎重磅IPO（首次公开募股）消息，中国"内存一哥"长鑫科技集团股份有限公司（以下简称长鑫科技）接受上市辅导。 7月7日，证监会官网披露，长鑫科技拟IPO并接受上市辅导，辅导机构为中金公司和中信建投。 长鑫科技目前无控股股东，第一大股东合肥清辉集电企业管理合伙企业（有限合伙）直接持有其21.67%股份。长鑫科技的主要业务为动态随机存取存储器 （DRAM）产品的研发、设计。 中国"内存一哥"长鑫科技 近年来，长鑫科技无疑是DRAM市场最大的"黑马"。根据市场调查机构CounterPoint Research的报告，2024年中国DRAM制造商CXMT（长鑫科技）预计将 占全球产能的13%、出货量的6%和收入的3.7%。2025年，其产能有望增长至与第三大DRAM制造商Micron（美光）相近的水平。 SK海力士、三星为韩国企业，美光为美国企业。因此，按照CounterPoint Research的数据计算，长鑫科技为毫无争议的中国"DRAM（内存）一哥"。 不过，CounterPoint Research也指出，相较于产能，长鑫科技的生产量和收入较低 ...

7月3日，早盘沪指窄幅震荡，创业板走势偏强，截至午间收盘，沪指涨0.07%，深成指涨0.75%，创业 板指涨1.36%。 华泰证券认为，短期横盘震荡和向下调整的概率各占一半；如果有调整，会是一件好事——如同5月下 旬和6月下旬的两个调整段，确认了4月反弹的有效性，本次调整将可能确认上周一至周三的三根大阳线 的有效性。在基本面上，依然在中长期对港股创新药保持看好，6月高点大概率不是本轮上涨的终点。 盘面上，题材轮动加速，主要聚焦医药和泛科技两大方向。具体来看，以创新药为首的的医药股再度强 势，塞力医疗3连板；消费电子板块走高，朝阳科技等涨停；商业航天概念拉升，西测测试20%涨停； 算力硬件端走强，胜宏科技续创历史新高；存储芯片概念再度活跃，盈方微、大为股份等多股涨停。下 跌方面，固态电池概念走低，兴业股份跌停，游戏、工程机械、多元金融、港口等板块跌幅居前。 展望后市，光大证券指出，市场整体的趋势和风格并未改变，接下来大概率将继续指数震荡、热点轮 动。 热门板块 1、创新药板块强势 创新药概念股反复活跃，塞力医疗3连板，神州细胞、微芯生物、赛升药业、长春高新、未名医药等跟 涨。 点评：消息面上，近日，在海南文昌卫 ...

A股存储芯片板块盘初走高，好上好创新高，西测测试20cm涨停，盈方微、大为股份、博敏电子等股涨 停。 ...

Group 1 - The China Securities Regulatory Commission (CSRC) held an expanded meeting to promote the establishment of a normalized market stabilization mechanism, aiming to manage risks in bond defaults and private equity funds [1] - In June 2025, A-share new accounts reached 1.65 million, a year-on-year increase of 53%, significantly surpassing the same period last year. A total of 12.6 million new A-share accounts were opened in the first half of the year [2] - Guangzhou plans to implement a "commercial-to-public loan" policy, which will be activated when the personal housing loan rate is below 75%. Preventive measures will be taken when the individual loan rate reaches 85% or above, and the loan will be suspended when it reaches 90% or above [3] Group 2 - As of the end of June, the price of domestic salt lake potassium chloride products (60% KCl) increased by 100 yuan per ton compared to the previous month, along with shipping costs, approaching the year's high points seen in February and March [4] - From the beginning of 2025 to now, the comprehensive price index of the NAND Flash market has risen by 9.2%, while the DRAM market's comprehensive price index has surged by 47.7%. The DRAM market is expected to reach a historical high in 2025 [5] - Luxshare Precision is planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange. Nanjing Shanglv expects a year-on-year decline in net profit of 67% to 78% for the first half of the year. Kaimeite Gases, which has seen three consecutive trading limits, reported that its current operating conditions are normal with no undisclosed significant matters. Chengbang Co., Ltd., which has seen five consecutive trading limits, noted that its subsidiary, Xinchun Electronics, currently has a small business scale [6]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [8] Core Insights - The report highlights significant opportunities in the storage sector driven by continuous price increases, AI catalysis, and accelerated domestic production [2][3][5] - The semiconductor storage market is expected to gradually recover starting from the end of March 2025, with both DRAM and NAND entering an upward price channel [3][16] - The demand for storage is being propelled by AI applications, with expectations for substantial growth in HBM and DDR5 demand by 2025 [4][81] Summary by Sections Price Analysis - The report anticipates sustained price increases in Q3 and Q4, with DDR4 leading the market due to supply-side reforms and production cuts by major manufacturers [15][19] - DRAM and NAND prices are expected to rise significantly, with PC DDR4 contract prices projected to increase by 18-23% in Q3 [24][31] Supply Side - The Chinese semiconductor storage market is projected to grow from approximately 394.3 billion yuan in 2023 to 458 billion yuan in 2025, with DRAM holding the largest market share [59][61] - Major overseas manufacturers are reducing production, benefiting domestic companies and increasing their market share [59][63] Demand Side - The report indicates that DRAM and NAND are entering a long growth cycle, with DRAM demand capacity expected to grow by 16% in 2024 and 15% in 2025 [81][83] - The demand for enterprise-level SSDs is expected to rise significantly, with AI infrastructure driving performance and capacity upgrades [4][81] Technology Trends - The report discusses advancements in 3D NAND technology and the transition to higher efficiency DRAM processes, with expectations for 300-layer NAND production by 2025 [72][73] - The integration of AI technologies is expected to enhance the performance and capacity of storage solutions, particularly in enterprise applications [4][5] Company Dynamics - Domestic storage manufacturers are accelerating their technological advancements and production capabilities, with companies like Jiangbolong and Baiwei Storage leading the charge in high-end storage solutions [5][6][63] - The report emphasizes the importance of self-developed controllers and high-end technology in building competitive advantages for domestic firms [5][6]

创业板指盘初跌超1%，CPO、存储芯片、军工电子板块跌幅居前。 ...

——存储芯片周度跟踪（2025.06.23-2025.06.27） ◼ 核心观点 NAND：CFM称部分原厂 NAND 产能转向先进制程，预计 2025年下 半年 1Tb NAND 供应增加。根据 DRAMexchange，上周（20250623- 0627）NAND 颗粒 22 个品类现货价格环比涨跌幅区间为 0.00%至 3.82%，平均涨跌幅为 1.56%。其中 5 个料号价格持平，17 个料号价 格上涨，0 个料号价格下跌。根据 CFM 闪存市场报道，2025 年下半 年起，部分存储原厂产能将陆续切换新制程，推动单 die 1Tb NAND 供应增长，并积极在手机、PC、服务器等应用领域加速客户认证工 作。未来，随着原厂产能向大容量 NAND 逐渐倾斜，加上国内厂商 产能快速爬坡，市场竞争将进一步加剧。 电子 行业研究/行业周报 CFM 称大容量 NAND 供应或增加，DDR4 高位横盘 DRAM：美光在 1-gamma DRAM 技术节点已取得显著进展。根据 DRAMexchange，上周（20250623-0627）DRAM 18 个品类现货价格 环比涨跌幅区间为 0.14%至 24.70%，平均 ...

Group 1 - The storage chip sector opened high, with Chengbang Co., Ltd. (603316) achieving a three-day consecutive rise [1] - Haoshanghao (001298) increased by over 7%, indicating strong market interest [1] - Multiple stocks including Zhanxin Co., Ltd., Zhongjing Electronics (002579), and Huatian Technology (002185) also opened high, reflecting a positive trend in the sector [1] Group 2 - Dark pool funds are flowing into these stocks, suggesting increased investment activity and potential bullish sentiment [1]

今日午后开盘，小商品城迅速跌停。截至收盘，该股下跌9.89%，报19.58元/股。近期该股持续上涨， 昨日股价创历史新高。 今天，银行股回调，AI硬件相关股票上涨，CPO、铜缆高速连接概念股震荡走强。 小商品城（600415）午间发布公告称，公司董事会近日收到董事长王栋提交的书面辞职报告。午后开 盘，小商品城迅速跌停，截至收盘，该股下跌9.89%，报19.58元/股。值得注意的是，小商品城今年以 来股价涨幅接近50%，昨日该股股价刚刚创下历史新高。 A股市场再现"炒生肖"行情，多只带"马"字个股午后大涨，玉马科技（300993）尾盘"20CM"涨停，云中 马涨停。此外，三羊马上午涨停，天马新材、万里马涨超10%，野马电池、威马农机、万马科技、福龙 马等跟涨。 截至收盘，上证指数下跌0.7%，深证成指上涨0.34%，创业板指上涨0.47%。全市场成交额15756亿元， 较上日缩量475亿元。板块方面，有色金属、铜缆高速连接、CPO、多元金融等板块涨幅居前，银行、 油气、跨境支付、白酒等板块跌幅居前。本周，上证指数涨1.91%，深证成指涨3.73%，创业板指涨 5.69%。 小商品城跌停 | 小商品城 O Q | ...

暗盘资金正涌入这些股票，点击速看>>> 存储芯片板块震荡上扬，好上好（001298）2连板，诚邦股份（603316）涨停，德福科技（301511）、 科翔股份（300903）涨超10%，灿芯股份（688691）、中京电子（002579）跟涨。 ...