Core Viewpoint - The storage market is experiencing a shortage, with multiple institutions predicting that storage prices will continue to rise in the fourth quarter [1] Group 1: Market Trends - The storage index has increased by over 60% since the beginning of the year [1] - The stock of Dongxin Co., a component of the storage index, has surged by 321.20% [1]

（声明：文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。） 出品丨21财经客户端 21世纪经济报道 编辑丨黎雨桐 360亿券商股吸并细节公布，股价半年涨超84% 万达被执行超52亿，遭多家金融机构起诉 白银、铂金飙升，最大黄金ETF大幅增仓，国内金饰突破1108元/克 SFC 21君荐读 编辑丨陈泽锴 存储市场缺货潮再蔓延，多家机构预测第四季度存储价格或将延续涨势。 年初至今，存储器指数涨幅超过60%，成分股东芯股份涨幅高达321.20%。 记者丨刘夏菲 ...

每经记者｜杨建 每经编辑｜彭水萍 （一）重要市场新闻 据工信部网站2025年9月28日消息，工业和信息化部等八部门印发《有色金属行业稳增长工作方案 （2025—2026年）》，其中提到，2025—2026年，有色金属行业增加值年均增长5%左右，经济效益保 持向好态势，十种有色金属产量年均增长1.5%左右，铜、铝、锂等国内资源开发取得积极进展，再生 金属产量突破2000万吨，高端产品供给能力不断增强，绿色低碳、数字化发展水平持续提升。 （二）行业掘金 点评：固态电池作为下一代动力电池的核心方向，凭借高能量密度、本质安全性和超长循环寿命，正加 速替代传统锂离子电池。全球头部企业普遍规划2027年实现全固态电池小规模量产，2030年进入规模化 应用阶段。中国凭借政策支持、技术储备（2024年专利申请量达日本3倍）和产业链优势，有望占据全 球40%市场份额。权威预计，2030年全球固态电池出货量将达614.1GWh，渗透率突破10%，市场规模 超2500亿元。中国作为最大单一市场，届时年市场规模预计达1163亿元，复合增长率达42%。概念股包 括龙蟠科技、鹏辉能源、道氏技术等。 （三）避雷针 井松智能：公司发布公告， ...

Industry Overview - The DRAM and NAND flash memory market is facing a more severe shortage than previously predicted, with expectations of price increases in Q4 2023 and throughout 2026 [1] - Major companies such as SanDisk, Micron, Samsung, and Western Digital have announced price hikes, with Adata stopping DDR4 pricing and prioritizing DDR5 and NAND flash for key customers [1] - Phison, a NAND flash controller chip manufacturer, has resumed partial pricing with an approximate 10% increase, signaling a price rise in the NAND flash market [1] Price Trends - The price increase for storage products in Q4 has become a certainty, with upstream manufacturers showing a strong inclination to raise prices beyond original expectations [1] - Original expectations indicated a 10%-15% increase in DDR5 contract prices and a 15%-25% increase in spot prices, while DDR4 contract prices were expected to rise over 10% and spot prices over 15% [1] Market Demand - The urgent profit needs of overseas storage manufacturers, combined with the high demand from AI applications, are shifting production capacity towards high-end products [1] - The traditional peak season for inventory in the second half of the year is expected to contribute to a recovery in contract prices for DRAM and NAND Flash products, with continued high demand for enterprise storage products like eSSD and RDIMM [1] Company Highlights - Daway Co., Ltd. has completed AVL certification for multiple storage chips, including DDR4, LPDDR4X, and LPDDR5, covering key areas such as high-end industrial applications, domestic CPUs, and AIOT [1] - Jiangbolong ranks third in total capacity for enterprise-level SATA SSDs in China for 2024, leading among domestic brands, and has launched SOCAMM2 memory products designed for AI data centers [2] - As of July 2023, Jiangbolong has achieved over 80 million units of its main control chip series in mass deployment, with rapid growth in deployment scale [2]

明日主题前瞻 1、存储 | 据台湾工商时报消息，DRAM及NAND闪存市场缺货情况较此前预测更为严峻，预计今年四季度及2026年行业价格将进一步上升。继闪迪、美 光、三星及西部数据宣布涨价之后，存储模组大厂威刚在日前宣布，自29日起停止DDR4报价，DDR5与NAND闪存优先供应主要客户；NAND闪存控制芯片 大厂群联则已在近日恢复部分报价，价格涨幅约10%，被看作NAND闪存市场的"开涨信号"。 点评：业内人士多认为，存储第四季度涨价已成定局。虽然10月合约价尚未正式敲定，但上游原厂涨价态度更为强势，涨幅可能超过原有预期——根据原有 预期，DDR5合约价上涨10%-15％、现货价15%-25％，DDR4合约价涨幅逾10％、现货价逾15％。当前海外存储原厂盈利需求急迫，且由于AI高景气，相关 产能逐步转向高阶产品，叠加下半年传统备货旺季，平安证券认为，自第二季度起DRAM和NAND Flash存储产品合约价有望筑底回升，叠加eSSD、 RDIMM等企业级存储产品需求持续高企，相关存储产业链企业业绩有望迎来明显改善。 2、固态电池 | 据科技日报报道，日前，清华大学化工系教授张强领衔的团队在锂电池聚合物电解质研 ...

存储市场缺货潮再蔓延，多家机构预测第四季度存储价格或将延续涨势。 存储市场缺货潮持续，多家机构预测Q4价格继续上涨。年初以来存储器指数涨超60%，东芯股份涨幅 达321.20%。 年初至今，存储器指数涨幅超过60%，成分股东芯股份涨幅高达321.20%。 ...

Core Viewpoint - The storage market is experiencing a shortage, leading to price increases for storage products, with several major manufacturers announcing price hikes since September [1][2]. Supply and Demand Dynamics - Major storage manufacturers, including SanDisk, Micron, Samsung, and Western Digital, have initiated price increases, impacting the downstream market [1]. - Adata has stopped quoting DDR4 prices and is prioritizing DDR5 and NAND flash supply for key customers, while Phison has resumed some pricing with a 10% increase [1]. - The price surge is attributed to a restructuring of supply and demand in the storage industry, with manufacturers implementing production cuts and a notable increase in storage demand driven by AI investments [1][2]. Price Forecasts - Multiple institutions predict that storage prices will continue to rise in Q4, with estimates of an 8% to 13% increase for old process DRAM and a 13% to 18% increase for HBM [2]. - NAND Flash contract prices are expected to rise by an average of 5% to 10% in Q4 [2]. - Morgan Stanley's latest report indicates that DRAM is entering a four-year pricing upcycle [2]. Market Performance - The storage product prices have been on an upward trend throughout the year, with the storage index increasing over 60% since the beginning of the year and 14.33% since September [2]. - The domestic advanced storage capacity is expanding, and AI servers and terminals are expected to further drive storage demand growth [2]. Key Companies in the Storage Chip Industry - Notable companies in the storage chip sector include: - Dongxin Co., which has seen a year-to-date increase of 321.20% [2]. - Shannon Chip, a core agent for SK Hynix, with a monthly increase exceeding 84% [2]. - Demingli, a provider of domestic SSD solutions, has achieved five consecutive trading limit increases since September [2]. Company Highlights - A summary of key listed companies in the storage chip industry includes: - North Huachuang: Leading domestic etching machine manufacturer with a market cap of 327.87 billion [3]. - Zhongwei Technology: Another leading etching machine manufacturer with a market cap of 181.58 billion [3]. - Dongxin Co.: A domestic leader in producing a full range of storage chips with a market cap of 46.38 billion [3]. - Zhaoyi Innovation: A global leader in NOR Flash with a market cap of 126.74 billion [3].

证券研究报告 | 行业周报 gszqdatemark 2025 09 27 年 月 日 电子 周观点：AI 算力持续演进，把握存储大周期机遇 阿里云重磅升级全栈 AI 体系，涉及大模型、智能体、AI 基础设施等各个 方面。1）模型方面，通义大模型实现七连发，在模型智能水平、Agent 工具调用和 Coding 能力、深度推理、多模态等方面实现多项突破。其中， 阿里通义旗舰模型 Qwen3-Max 全新亮相，预训练数据量达 36T tokens， 总参数超过万亿，拥有强 Coding 编程能力和 Agent 工具调用能力，性能 超过 GPT5、Claude Opus 4 等，跻身全球前三；下一代基础模型架构 Qwen3-Next 及系列模型正式发布，模型计算效率实现突破。截至目前， 阿里通义开源 300 余个模型，在中国企业级大模型调用市场中，阿里通义 占比第一。2）Agent 方面，发布全新 Agent 开发框架 ModelStudio-ADK， 升级了低代码 Agent 开发平台 ModelStudio-ADP，随着模型能力的不断提 升以及 Agent 应用的爆发，过去一年，阿里云百炼平台的模型日均调用量 ...

本文转自【人民日报】； 深中通道连接企业的深圳总部和中山基地，也连接上下游产业链。"客户业务交流以及合作伙伴联合创新、联合实 验有了快捷通道。"江波龙副总裁杨晓斌说，"深中通道开通后，公司整体运营效率提高30%左右。" 原标题：走深中通道，30分钟跨海上班（身边的"十四五"） 伶仃洋上，深中通道如巨龙腾跃。这条通道不仅带动了新兴产业高速发展，也激活了当地经济发展新动能。2024 年7月至2025年6月，中山累计接待游客超2800万人次，同比增长28.65%；旅游收入超260亿元，同比增长 32.25%。深中通道通车一年，总车流量超过3155万车次，日均超过8.64万车次，约占珠江口每日过江车流量的 1/5。 走进实验室，谢灵聪把固态硬盘放到设备上测试。30分钟后，一次测试完成。 30分钟，也是他每天从广东深圳到中山上班的通勤时间。"我每天走深中通道跨海上班。"谢灵聪是深圳市江波龙 电子股份有限公司（以下简称"江波龙"）技术工程师。每天7点半，他准时从深圳的家中出发，驱车驶上深中通 道，8点刚过，已到达江波龙中山存储产业园。 江波龙总部位于深圳前海。"我们团队主要研发人员在深圳，执行人员在中山。以前，大家开车往 ...

这次的牛市，并不是雨露均沾，鸡犬升天的牛市，而是冰火两重天的牛市。一方面，芯片、 光模块、创新药、机器人、存储、固态电池等科技概念轮番上阵，涨幅惊人，另一方面，银 行、保险、地产、消费等传统版块，被吸得连血都快空了。很多传统意义上的白马优质股， 股价也是大幅跑输市场。"老登"们一边高呼看不懂，一边对科技嗤之以鼻。 我的理解是，世界经济是以创新周期为单位，脉冲式前进的，并不是一条直线的斜率向上。 一波科技红利，催生一波基础设施的变化，创造出新的需求，然后基于这些基础设施的应用 再慢慢开花结果。这个周期是以20年为单位的。 上一波世界级的科技红利，来自于互联网和移动互联网。基础设施来自于电信运营商（零几 年的移动、联通，在就业市场的受追捧程度，经历过那个时代的人都懂），来自于手机厂商 （基本上造就了苹果、三星、小米、OV等世界级巨头）。然后应用端，google、亚马逊、阿 里、腾讯、百度、字节等世界级的平台型公司，也是这一波科技红利的直接结果。 现在世界进入了新的一波AI主导的科技革命，而且比上一次还要大，这可能是蒸汽机以来人类 最伟大的技术革命，甚至某种程度上可能真的实现共产主义愿景里的物质极大丰富，大家按 需 ...