12月31日，公司成立深圳智能存储全资子公司；12月11日，引入两位半导体存储领域独立董事，坚定推进存储战 略。 ➡短期调整或系资金行为，收购事项正常推进 1月20日公告，收购金泰克的尽职调查、审计及评估等各项工作有序推进中。 12月31日，公司成立深圳智能存储全资子公司；12月11日，引入两位半导体存储领域独立董事，坚定推进存储战 略。 金泰克：稀缺国产企业级存储模组标的，深度卡位国产算力产 浙商大制造 邱世梁【开普云】短期调整无虞，收购金泰克事项有序推进，持续推荐！ ➡短期调整或系资金行为，收购事项正常推进 1月20日公告，收购金泰克的尽职调查、审计及评估等各项工作有序推进中。 浙商大制造 邱世梁【开普云】短期调整无虞，收购金泰克事项有序推进，持续推荐！ 金泰克：稀缺国产企业级存储模组标的，深度卡位国产算力产业链，受益于AI需求+存储涨价+国产化 1）金泰克聚焦国产替代最难、最急迫的企业级内存模组，企业级DDR4模组出货量国内领先，是国内首批实现企 业级DDR5模组国产替代的厂商，在前沿技术保持稳定领先。 2）供应链方面，金泰克与上游海力士等国际头部原厂合作关系稳固，叠加先进的存储颗粒筛选修复技术，实现了 ...

Market Overview - On September 18, the Shanghai Composite Index fell by 1.2%, and the CSI 300 also decreased by 1.2%. The STAR Market 50 rose by 0.7%, while the CSI 1000 dropped by 1.0%, and the ChiNext Index fell by 1.6%. The Hang Seng Index decreased by 1.4% [5][7] - The best-performing sectors on that day were electronics (+0.9%), communications (+0.2%), and social services (0.0%). The worst-performing sectors included non-ferrous metals (-3.6%), comprehensive (-2.9%), non-bank financials (-2.8%), media (-2.3%), and beauty care (-2.2%) [5][7] - The total trading volume in the Shanghai and Shenzhen markets was 31,352 billion yuan, with a net inflow of 6.29 billion HKD from southbound funds [2][7] Important Recommendations - The report highlights the acquisition of Jintai Technology's storage business by Kaipu Cloud (688228), aiming to establish a comprehensive AI service provider integrating software and hardware. Jintai Technology is a leading domestic enterprise memory module manufacturer, presenting significant growth potential due to domestic substitution and first-mover advantages. The expected revenue for Kaipu Cloud from 2025 to 2027 is projected to be 717 million, 798 million, and 891 million yuan, with net profit estimates of 35.51 million, 46.43 million, and 49.24 million yuan, respectively [3][8] Key Insights - The macroeconomic report indicates that fiscal spending continues to show a strong trend, with a focus on the implementation of new policy financial tools. The broad fiscal revenue growth rate has been improving, while the expenditure growth rate is stabilizing [6][8] - In the chemical industry, the report suggests that the ongoing anti-involution policies are leading to the introduction of measures to eliminate backward production capacity, which is expected to improve supply and demand dynamics. Investment opportunities are identified in sectors such as chemical fibers, olefins, agricultural chemicals, and new materials for import substitution [6][11] - The report on Xian Dao Intelligent (300450) indicates that a turning point in performance has been established, with solid-state battery business opening new growth avenues. The report emphasizes the potential for growth driven by improvements in the lithium battery sector and significant technological advancements [4][12]