根据Tr e n dFo r c e集邦咨询最新发布的存储现货价格趋势报告，DDR4、DDR5内存及相关模组 价格持续攀升，但涨幅略有放缓。作为顶级模组供应商，Ki n g st o n（金士顿）本周大幅提高了 DRAM价格，整体现货价格未见疲软迹象。与此同时，NAND闪存现货市场在合约价格上涨的 预期下呈现看涨情绪。详情如下： DRAM现货市场 ： DDR4、DDR5与模组价格仍持续连日上扬，虽然价格涨幅较先前略有收敛，但观察后研判并 非缺货现象舒缓，比较倾向为部分中间交易商为了年底结算而释出较多库存的短期现象。 市占最大的模组厂Ki n g st o n本周( 1 2 / 1 7 - 1 2 / 2 3 )大幅调涨DRAM报价，整体现货价格走势未显 疲 软 迹 象 。 主 流 颗 粒 DDR4 1Gx 8 3 2 0 0MT/s 在 本 周 的 价 格 涨 幅 为 9 . 5 2%(US$ 1 9 . 8 6 上 涨 至 US$ 2 1 . 7 5 )。 NAND现货市场 ： 在合约价格被看好将上调的预期影响下，现货市场反映出偏多的市场氛围。部分现货供应商基 于对后续价格走势的乐观判断，选择延后释出库存、 ...

Group 1 - Tesla's new car registrations in Europe fell to 22,801 units in November, a year-on-year decrease of 11.8%. For the first 11 months of the year, registrations dropped by 28% [2] - Samsung and SK Hynix have raised the prices of HBM3E memory chips by nearly 20% for next year, a rare occurrence as suppliers typically lower prices before launching new generations of products [3] - The movie "Avatar 3" has surpassed 10 million viewers in China within six days of its release [4] Group 2 - Sanofi has announced an agreement to acquire vaccine company Dynavax for approximately $2.2 billion, with a cash offer of $15.50 per share [5] - According to Ipsos, the global net trust level for Chinese brands has increased by 12 percentage points to 32% compared to 2024, with significant trust growth in developed markets [6][7] - JD.com has opened 30 stores of its "Seven Fresh" brand in Beijing, indicating intensified competition in the community fresh food market [8] Group 3 - Yu Minhong has appointed Sun Jin as the new CEO of Dongfang Zhenxuan, marking a stable transition within the company [9] - The Sichuan provincial government is implementing measures to boost consumption and expand domestic demand, aiming to create new growth points [10] - Sanya's duty-free shops reported sales exceeding 5.35 billion yuan over five days, reflecting a 50.3% year-on-year increase, driven by promotional activities [11] Group 4 - Rakuten Trade Research indicates that the Malaysian stock market presents selective opportunities as year-end approaches, supported by strong domestic liquidity and improved market sentiment [12] - A new robotics industry association in Beijing is set to be established, aimed at promoting industry research, data analysis, and collaboration [13] - Bilibili has denied rumors of a "full paywall" for its content, leading to the arrest of individuals spreading false information [14]

来源：光大证券微资讯 热点聚焦 1、隔夜，美股三大指数集体收涨，均录得日线5连涨。道指涨0.6%，标普500涨0.32%，纳指涨0.22%。 其中，标普500、道指均创历史收盘新高。当天盘前，英特尔股价直线跳水，盘中跌幅一度超过5%，收 盘跌0.52%。有报道称，英伟达已暂停对英特尔18A制程工艺的测试。同时，英伟达称并未收购AI芯片 初创公司Groq，仅为技术许可安排。此前报道称，英伟达拟以约200亿美元收购Groq。 2、隔夜，国际贵金属期货收盘涨跌不一。COMEX黄金期货持平，报4505.4美元/盎司；COMEX白银期 货涨1.04%，报71.88美元/盎司。12月25日1:16，现货白银短线拉升，向上触及72美元/盎司，日内上涨 0.8%。此前，黄金、白银在创下历史新高之后，一度跳水。北京时间25日5:59纽约尾盘，离岸人民币兑 美元报7.0074元，较周二纽约尾盘涨119点。 3、据环球时报，美国政府23日宣布，将在2027年对华芯片加征关税，结束了拜登政府发起的对华芯片 贸易调查。美媒分析称，尽管美国政府称中方在芯片产业中的做法"损害美国利益"，但最终决定至少在 18个月内不对华芯片加征额外关税。 ...

智通财经APP获悉，周三，美股存储概念股拉升，截至发稿，美光科技(MU.US)涨超3%，股价创历史新 高；SanDisk Corp(SNDK.US)涨超3.8%，西部数据(WDC.US)涨超1%。 ...

每经AI快讯，美股存储概念股拉升，美光科技涨4%，股价续创历史新高；SanDisk涨近5%，西部数据 涨超1%。 ...

存储概念股上涨，闪迪涨超4%，美光科技涨2.6%，西部数据涨超2%。消息面上，存储涨价潮蔓延，三 星电子、SK海力士等存储供应商已上调明年HBM3E价格，涨幅接近20%。一般而言，在新一代HBM产 品面世之前，供应商往往会下调前一代产品价格，因此本次涨价在业内较为罕见。(格隆汇) ...

Core Viewpoint - Shenzhen Longke Technology Co., Ltd. announced an organizational restructuring to enhance management efficiency and resource allocation, aligning with its long-term strategic development needs [1] Group 1: Organizational Restructuring - The board of directors has approved the restructuring plan, which focuses on "strategic development" and "operational realities" to streamline management processes and strengthen departmental collaboration [1] - The restructuring is seen as a significant move to deepen the company's strategic layout amid increasing industry competition and rapid technological iteration [1] Group 2: Expected Impact - The implementation of this restructuring is expected to positively influence Longke Technology's operational efficiency and the achievement of strategic goals [1] - Investors are encouraged to monitor the company's developments in business integration and market expansion following this adjustment [1]

Core Viewpoint - The company, Jiangbolong (301308), indicates that the time lag between wafer procurement and memory sales will positively impact its gross margin when memory wafer prices rise [1] Group 1: Company Performance - The company has made continuous breakthroughs in high-end memory, overseas business, and self-developed main control chips [1] - Internal growth factors are expected to drive the company's profitability enhancement more directly and sustainably [1]

德明利(001309.SZ)接受机构调研回答"如何看待存储价格后续走势？"的问题时表示，AI驱动下的数据 存储需求增长仍在持续影响存储价格，头部云服务商向存储原厂抛出巨额采购订单，加剧原厂将有限的 产能向服务器存储倾斜，非服务器市场面临供应紧缺。CFM闪存市场预计2026年一季度将延续上行趋 势，MobileeMMC/UFS涨幅将达25%-30%，LPDDR4X/5X涨幅或达30%-35%；PC端DDR5/LPDDR5X涨 幅将达30%-35%，cSSD上涨25%-30%。公司也将紧密跟踪行业价格走势，积极调整经营策略。 ...

Group 1: Core Competitiveness - The company's core competitiveness lies in its strong R&D capabilities and deep technical accumulation, focusing on in-depth research of storage media and continuous accumulation of testing cases [1] - The company has consistently driven growth through technological upgrades, enhancing its importance and influence in the storage industry chain [1] - The company develops proprietary storage control and firmware solutions, combined with supply chain management and quality control systems, to innovate and launch competitive storage solutions [1] Group 2: Market Dynamics - The rise in storage prices is expected to temporarily increase costs for downstream consumer electronics, but long-term demand for both consumer electronics and storage products will continue to grow due to technological innovation [1] - The industry is currently experiencing limited capacity increases due to the time lag in production capacity construction, despite a surge in data storage demand driven by AI [2] Group 3: Role in the Industry - Storage module manufacturers play a crucial role in the storage industry by providing flexible storage solutions and supply chain management, meeting the customized needs of downstream clients [3] - As the capabilities of storage solutions expand and overall scale increases, the importance and influence of storage module manufacturers in the industry chain will continue to rise [3] Group 4: Price Trends - Data storage demand driven by AI continues to impact storage prices, with major cloud service providers placing large orders, leading to supply shortages in non-server markets [4] - The CFM flash memory market is expected to maintain an upward trend in Q1 2026, with price increases projected: Mobile eMMC/UFS by 25%-30%, LPDDR4X/5X by 30%-35%, and PC DDR5/LPDDR5X by 30%-35% [4]