证券之星消息，2025年11月25日江波龙（301308）发布公告称公司于2025年11月20日接受机构调研，长江 证券、中银基金、国盛证券、嘉实基金参与。 具体内容如下： 问：当前全球存储晶圆供应紧张，公司在存储晶圆的获取方面，是否具备足够的保障？ 答：根据灼识咨询的数据，公司是全球第二大独立存储器企业及中国最大的独立存储器企业，这一行业地 位有助于公司与全球主要存储晶圆原厂建立超越常规采购关系的长期直接合作。公司已与存储晶圆原厂签 有长期供货协议 （LT）或商业合作备忘录（MOU），并在此框架内开展长期合作，保障存储晶圆的持续稳定供应。 答：包括公司在内，全球目前仅少数企业具备在芯片层面开发 UFS4.1 产品的能力。搭载公司自研主控的 UFS4.1 产品在制程、读写速度以及稳定性上优于市场可比产品，在获得以闪迪为代表的存储原厂认可的 基础上，还获得多家Tier1 大客户的认可，相关导入工作正加速进行。 江波龙（301308）主营业务：半导体存储应用产品的研发、设计、封装测试、生产制造(SMT及组包环节, 下同)与销售,主要聚焦于存储产品和应用,形成存储芯片设计、主控芯片设计及固件算法开发、封装测试, 以 ...

| | | 编号：2025-032 深圳市江波龙电子股份有限公司 | 投资者关系活动 | √特定对象调研 □分析师会议 □媒体采访 | | --- | --- | | 类别 | □业绩说明会 □新闻发布会 □路演活动 | | | □现场参观 √电话会议 □其他 | | 参与单位名称及 | 长江证券、中银基金、国盛证券、嘉实基金 | | 人员姓名 | | | 2025 时间 | 年 月 11 20 日(周四) 10:00-11:00 | | 2025 | 年 11 月 21 日(周五) 16:00-17:00 | | 地点 | 深圳市前海深港合作区南山街道听海大道 5059 号鸿荣源前 | | | 海金融中心二期 座 B 2301 | | 上市公司接待人 | 副总经理、董事会秘书 许刚翎 | | 员姓名 | 投资者关系经理 黄琦 | | | 投资者关系资深主管 苏阳春 | | | 1、当前全球存储晶圆供应紧张，公司在存储晶圆的获 | | | 取方面，是否具备足够的保障？ 答：根据灼识咨询的数据，公司是全球第二大独立存储 | | | 器企业及中国最大的独立存储器企业，这一行业地位有助于 | | 投资者关系活动 | ...

Core Viewpoint - The company, Baiwei Storage, has initiated its H-share listing process in Hong Kong to enhance its global strategy and core competitiveness [2][4]. Group 1: Listing Process - Baiwei Storage submitted its H-share public offering application to the Hong Kong Stock Exchange on October 28 and published the application materials on the same day [2]. - The company has received acceptance of its listing application materials from the China Securities Regulatory Commission (CSRC) [3]. Group 2: Fundraising Purpose - The funds raised from the Hong Kong listing will focus on expanding the company's core business, specifically for the expansion of its advanced packaging and testing base in Huizhou and a wafer-level packaging project, which is expected to commence production in the second half of 2025 [4]. Group 3: Business Development - In the enterprise sector, Baiwei Storage's products are experiencing rapid development, having obtained core supplier qualifications from server manufacturers, leading internet companies, and top domestic OEM manufacturers, indicating a significant enhancement in the company's commercial viability [6].

Group 1 - The company, Baiwei Storage, is experiencing rapid growth in its enterprise-level business, having obtained core supplier qualifications from major server manufacturers, leading internet companies, and top domestic OEM manufacturers, marking a significant enhancement in its commercial capabilities [1][3] - The enterprise-level products are designed for data centers and critical business scenarios, requiring higher performance stability, sustained write lifespan, and long-term reliability, with a more stringent certification cycle and integration process [3] - The acquisition of core supplier qualifications typically indicates the completion of multiple validation rounds and entry into customer systems, paving the way for subsequent bulk orders [3] Group 2 - The collaboration among server manufacturers, internet companies, and OEMs is expected to accelerate the ramp-up of new enterprise-level products, with the company improving yield and delivery stability during the pre-mass production phase through process optimization and consistency control [3] - Industry trends indicate that AI training and inference are driving data center expansion, leading to changes in enterprise storage demand, with higher bandwidth, lower latency, and greater durability becoming key selection criteria [3] - The company plans to enhance its product matrix and deepen collaborative development with core customers, focusing on performance, reliability, and energy efficiency while optimizing the supply chain to improve large-scale supply capabilities [3] Group 3 - The combination of core qualifications and pre-mass production is seen as a critical step towards commercialization, with future attention needed on the pace of bulk integration, fluctuations in downstream demand, and the impact of price competition on profitability [3] - If the company successfully achieves large-scale mass production, there is potential for further optimization of customer and product structures [3]

Core Viewpoint - The company, Baiwei Storage, is experiencing rapid growth in the enterprise storage and AI server storage sectors, having achieved significant milestones in commercializing its products [2]. Group 1: Market Position and Development - The company has obtained core supplier qualifications from server manufacturers, leading internet companies, and top domestic OEM manufacturers [2]. - The company has achieved pre-mass production shipments, indicating a notable enhancement in its ability to commercialize enterprise-level products [2].

Core Insights - Jiangbolong ranks third in total capacity for enterprise SATA SSDs in China for the first half of 2025, leading among domestic brands [1] - The company's RDIMM products have begun mass shipments, with steady growth in scale [1] - Other forms of enterprise storage products are being systematically introduced to leading domestic companies [1]

Core Viewpoint - Jiangbolong announced on November 6 that the interval between wafer procurement and memory sales will positively impact the company's gross margin when memory wafer prices rise, although raw material price fluctuations are only one factor affecting performance [1] Group 1: Company Performance - The company has made continuous breakthroughs in enterprise-level storage, high-end consumer storage, overseas business, and self-developed main control chips [1] - Internal growth factors will more directly and sustainably drive the company's profitability improvement [1]

Core Insights - The company has begun mass shipments of its RDIMM products, indicating a steady expansion in scale [2] - Other forms of enterprise-level storage products are being systematically introduced to leading domestic companies [2] Company Developments - The RDIMM products are now being shipped in bulk, showcasing the company's growth in this segment [2] - The introduction of various enterprise storage products is progressing in an orderly manner, targeting top domestic enterprises [2]

Core Viewpoint - Jiangbolong (301308) has successfully begun mass shipments of its RDIMM products, indicating a steady expansion in scale [1] Group 1: Product Development - The company’s RDIMM products are now being shipped in bulk, showcasing the growth in production capacity [1] - Other types of enterprise-level storage products are being systematically introduced to leading domestic enterprises [1]

Core Viewpoint - The company is closely monitoring national and local industrial policy dynamics, which may positively support the development of downstream industries if relevant policies are implemented [1] Group 1 - The company is a full-stack domestic storage solution provider, with self-developed main control chips and enterprise-level storage products widely used in data center scenarios [1] - The specific implementation details of the policies and their actual impact on the company still require further observation [1] - The company aims to actively seize industry opportunities and will provide updates based on publicly available information [1]