证券日报网讯12月17日，万润科技（002654）在互动平台回答投资者提问时表示，公司与合作伙伴的信 息系公司商业秘密，公司积极努力构建以LED、半导体存储器为主业的新一代信息技术业务，积极培育 和开拓大客户、品牌客户、直销客户等价值客户，以期提升市场份额，扩大业务规模，提高主业占比。 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 在本文中，我们将探讨中国半导体存储器市场和中国半导体制造商的分析结果。 首先，我们将考察中国的半导体存储器市场。就2024年DRAM市场和NAND闪存市场的区域份额 （基于总部所在地）而言，预计中国将位居第二（美洲在这两个市场中均将位居第一）。 Yole Group 还分析了主要 DRAM 和 NAND 闪存供应商在中国市场的销售额占比（2024 年）。 三星电子、SK 海力士和美光科技在三大 DRAM 公司中，中国市场的销售额占比最高，其次是 SK 海力士，最后是美光。即使是占比最高的三星，其在中国市场的销售额也仅占 30% 左右，并 不算高。与此同时，中国DRAM公司将其所有 DRAM 产品都销往中国。 有趣的是，这六大公司合计占据了约25%的NAND闪存市场份额。中国闪存公司也将其所有NAND 闪存产品都销往中国。 Yole Group 估计，中国将占 DRAM 市场 26% 的份额（价值 250 亿美元），以及 NAND 闪存市 场 33% 的份额（价值 220 亿美元）。其中，NAND 闪存的份额最大。 如果简单地将DRAM和NAND闪存的总价值加起来，全球 ...

长江商报消息 ●长江商报记者 汪静 A股存储龙头佰维存储（688525.SH）拟减持参股公司联芸科技（688449.SH）股票。 自2025年12月1日起，公司所持联芸科技首发限售股份解除限售并上市流通。为进一步提高资产的流动 性和使用效率，公司拟根据股票市场行情以集中竞价交易的方式择机出售所持联芸科技部分或全部A股 股票，占其总股本的比例不超过1%。 根据佰维存储披露，目前该交易性金融资产账面成本4212.77万元。 截至12月2日收盘，联芸科技报45.45元/股，以目前股价计算，佰维存储所持股权价值1.7亿元，也就 说，佰维存储此次投资账面浮盈约1.28亿元。 据了解，联芸科技是一家提供数据存储主控芯片、AIoT信号处理及传输芯片的平台型芯片设计企业。 2024年以来，联芸科技持续盈利，且盈利幅度不断扩大。2024年及2025年前三季度，该公司实现营收分 别为11.74亿元、9.21亿元，同比增长13.55%、11.59%；归母净利润分别为1.18亿元、9006万元，同比增 长126.04%、23.05%。 12月1日晚间，佰维存储发布公告，为进一步提高资产的流动性和使用效率，将择机出售持有的联芸科 技相 ...

Core Viewpoint - Dawi Co., Ltd. has experienced significant stock price fluctuations, with a year-to-date increase of 99.72% but a recent decline of 26.15% over the past five trading days [1] Financial Performance - For the period from January to September 2025, Dawi Co., Ltd. achieved a revenue of 879 million yuan, representing a year-on-year growth of 9.90% [2] - The company reported a net profit attributable to shareholders of -7.5262 million yuan, which is a year-on-year increase of 71.58% [2] Stock Market Activity - As of November 27, Dawi Co., Ltd.'s stock price was 27.06 yuan per share, with a market capitalization of 6.425 billion yuan [1] - The stock has been on the "龙虎榜" (a trading board for stocks with significant trading activity) 27 times this year, with the most recent appearance on November 20, where it recorded a net buy of -74.1382 million yuan [1] Shareholder Information - As of September 30, the number of shareholders for Dawi Co., Ltd. was 51,900, a decrease of 19.26% from the previous period [2] - The average circulating shares per shareholder increased by 24.10% to 3,979 shares [2] Business Overview - Dawi Co., Ltd. operates primarily in the new generation information technology and automotive manufacturing sectors, with semiconductor memory accounting for 92.16% of its main business revenue [2] - The company is categorized under the electronic-semiconductor-digital chip design industry and is involved in various concept sectors including lithium batteries and data centers [2]

Core Insights - The introduction of NAND flash memory has fundamentally transformed data storage and retrieval since the late 1980s, with applications spanning from smartphones to data centers [1] - The semiconductor industry is competing to increase NAND flash memory density while reducing cost per bit, transitioning from 2D to 3D NAND technology to overcome traditional size limitations [1][7] - Significant advancements include the shift from floating gate transistors to charge trap cells, which enhance read/write performance and allow for higher storage density [1][3] Group 1: Technological Advancements - The semiconductor industry is exploring new technologies to tightly pack storage cells both horizontally and vertically, with imec developing innovations like air gap integration and charge trap layer separation [2] - The GAA (Gate-All-Around) architecture is being applied in 3D NAND flash memory, allowing for vertical stacking of storage cells and improved density [3][7] - Current mainstream manufacturers are producing 3D NAND flash chips with over 300 layers, with expectations to reach 1000 layers by 2030, equating to approximately 100 Gbit/mm² storage capacity [7] Group 2: Challenges and Solutions - Maintaining uniformity in wire diameter across stacked layers poses challenges, increasing process complexity and costs [7] - Companies are investing in tools to enhance 3D NAND storage density, including increasing bit counts per cell and reducing GAA cell spacing [9] - The introduction of air gaps between adjacent word lines is a potential solution to reduce cell interference, with imec proposing a precise integration method [13][17] Group 3: Future Directions - The integration of air gaps and charge trap layer separation is seen as crucial for achieving future z-axis scaling in 3D NAND flash memory [24] - imec is developing new technologies for controlled charge trap cutting, which could enhance the storage window and prevent charge migration [20][24] - Innovative architectures are being considered to maintain leadership in memory development beyond 2030, driven by demands from cloud computing and artificial intelligence applications [24]

Core Viewpoint - The company, Shikong Technology, plans to acquire 100% equity of Shenzhen Jiahe Jingwei Technology Co., Ltd. to enter the storage sector and create a second growth curve, enhancing its profitability and transforming its production capabilities [1][5]. Group 1: Acquisition Details - The acquisition will be executed through issuing shares and cash payments to 19 parties, with a share price set at 23.08 yuan per share [2]. - The company aims to raise funds not exceeding 100% of the asset purchase price, with a maximum issuance of 30% of the total share capital prior to the issuance [2]. - The raised funds will be allocated for cash payments, intermediary fees, taxes, and to support working capital and debt repayment [2]. Group 2: Target Company Overview - Jiahe Jingwei specializes in the R&D, design, production, and sales of storage products, including memory bars and solid-state drives, with three main product lines [3]. - The company has shown consistent revenue growth, with projected revenues of 854 million yuan in 2023, 1.344 billion yuan in 2024, and 1.123 billion yuan for the first eight months of 2025 [3]. Group 3: Financial Performance - Jiahe Jingwei's financials indicate total assets of approximately 1.299 billion yuan and total liabilities of about 693.5 million yuan as of August 31, 2025 [4]. - The net profit for 2024 is projected at 42.71 million yuan, with a net profit of 42.29 million yuan reported for the first eight months of 2025 [3][4]. Group 4: Strategic Implications - The acquisition is expected to enhance the company's asset quality and risk resilience, facilitating its transition and growth in the information technology sector [5]. - The controlling shareholder, Gong Lanhai, has committed to a 36-month lock-up period for both newly issued and existing shares [6].

Financial Performance - The company reported a revenue of 2,547,589,270.04 yuan for the first half of 2025, representing a year-on-year increase of 27.44% [2][3] - The net profit attributable to shareholders was 15,535,249.59 yuan, a decrease of 46.07% compared to the same period last year [2][3] - The net profit after deducting non-recurring gains and losses was 10,734,361.75 yuan, down 23.42% year-on-year [2][3] - The net cash flow from operating activities was -68,200,050.23 yuan, an improvement of 21.69% from the previous year [3] - Basic and diluted earnings per share were both 0.02 yuan, reflecting a decline of 33.33% [3] - The weighted average return on equity was 0.97%, down 0.90% from the previous year [3] Asset and Equity Position - As of the end of the reporting period, total assets amounted to 4,738,773,738.19 yuan, a decrease of 1.14% year-on-year [2][3] - The net assets attributable to shareholders were 1,552,793,643.09 yuan, showing a growth of 1.01% compared to the end of the previous year [2][3] Business Expansion and Market Development - The company is focused on expanding production, market development, and stabilizing operations to achieve new breakthroughs in overall business scale [2] - In the LED lighting sector, the company has made significant progress in consumer electronics, automotive electronics, and fire safety markets, securing contracts for major projects [4] - The company is actively expanding its international business, successfully establishing partnerships with quality distributors in Thailand and Malaysia [4] Semiconductor Storage Business - The semiconductor storage segment achieved a revenue of 473 million yuan, marking a substantial year-on-year growth of 444.58% [5] - The company is advancing in R&D, focusing on testing technology, hardware development, and automotive-grade product development, while also securing multiple patents [5] - Key projects include the development of enterprise-level PCIe 5.0 SSDs and successful mass production of DDR5 4800 memory modules [5]

Core Viewpoint - The company emphasizes the importance of self-built testing and packaging capabilities to enhance product competitiveness and pricing power in the semiconductor storage industry [1][2][3] Group 1: Company Strategy - The company has established a dual strategy focusing on "solution development + self-packaging and testing" to meet market demands for high-capacity, miniaturized, and low-power storage solutions [2][3] - By integrating research and testing capabilities, the company aims to penetrate high-tech fields such as smartphones, PCs, and smart wearables, thereby avoiding intense competition and enhancing differentiation [2][3] Group 2: R&D Investment - The company has significantly increased its R&D investment from 51 million yuan in 2018 to 447 million yuan in 2024, representing a growth of over 7 times [3] - The company maintains a commitment to innovation even during industry downturns, allowing it to seize opportunities during recovery periods [3] Group 3: Market Expansion - The company has successfully entered the supply chains of major brands such as OPPO, VIVO, Lenovo, and Xiaomi with its embedded storage and SSD products [4] - Future focus areas include smart wearables and smart vehicles, with enterprise storage and data center products being prioritized for medium to long-term growth [4][5] Group 4: Emerging Markets - The company anticipates significant growth in the smart glasses segment, projecting revenues exceeding 1 billion yuan in 2024, with a year-on-year increase of nearly 300% [5] - In the automotive sector, the company has begun bulk deliveries of LPDDR RAM and eMMC products to leading car manufacturers, with expectations for increased sales in vehicle-grade storage [5] Group 5: Industry Positioning - The company's transition from reliance on external testing to an integrated approach reflects a strong commitment to self-sufficiency in the domestic storage industry [6] - The company is leveraging its R&D capabilities and global presence to transform challenges into growth opportunities, aiming to move up the value chain in the industry [6]

Group 1 - The company, Wanrun Technology, primarily engages in LED, semiconductor memory, next-generation information technology, comprehensive energy services, and advertising media businesses [1] - The company is actively exploring emerging niche markets for its product services, such as the application of LED technology in the field of robotic vacuum cleaners [1]

Group 1: Company Performance - In the first half of 2025, the company achieved operating revenue of 3.912 billion yuan, a year-on-year increase of 13.70%, with a net loss attributable to shareholders of 226 million yuan [1] - In Q2 2025, the company reported operating revenue of 2.369 billion yuan, a year-on-year increase of 38.20%, and a net loss of 28 million yuan, significantly reduced from the previous quarter's loss of approximately 216 million yuan [1] - The company indicated that if excluding the impact of stock-based compensation, the net loss for the first half of the year would be approximately 75.57 million yuan, suggesting that the company was close to achieving profitability in Q2 [1] Group 2: Industry Trends - The global storage market is expected to recover in 2024, with a market size reaching 165.52 billion USD, representing a year-on-year growth of 79.3% [2] - AI technology is driving increased demand for storage, with stricter requirements for storage capacity and performance in data center servers and end devices [2] - The semiconductor storage industry is characterized by significant growth amidst fluctuations, with AI computing and continuous advancements being key drivers for future growth [2] Group 3: Capital Increase and Strategic Initiatives - In April 2025, the company completed a private placement, raising a net amount of 1.87 billion yuan, aimed at expanding its advanced packaging and storage manufacturing capabilities [3] - The funds will enhance the company's production capacity in high-end storage manufacturing, catering to the growing demand for large-capacity storage solutions in AI, smart driving, and servers [3] - The company possesses leading packaging technologies, which will be further enhanced through the implementation of the capital increase projects [3] Group 4: Financial Forecast - Revenue projections for 2025-2027 are 8.5 billion yuan, 10.8 billion yuan, and 14.2 billion yuan, with corresponding net profits of 420 million yuan, 1.13 billion yuan, and 1.58 billion yuan [4]