证券日报网讯1月9日，江波龙（301308）在互动平台回答投资者提问时表示，公司产品广泛应用于机器 人、AI眼镜等各类新形态智能终端，显现出较强的市场竞争力。但机器人、AI眼镜等新形态智能终端 业务，仍处于发展早期，对公司实际业绩的贡献率尚低。公司企业级存储产品已导入头部互联网企业的 供应链体系中，客户涵盖运营商、互联网企业、服务器厂商等。 ...

格隆汇12月29日丨江波龙(301308.SZ)在互动平台表示，公司构建有韧性的、国内海外双循环业务体系 已经初具规模，公司具备实际能力以灵活、快速的不同策略应对外部环境的变化，并充分利用上述独特 优势，化挑战为机遇，实现更好的可持续增长。公司企业级存储产品已导入头部互联网企业的供应链体 系中，客户涵盖运营商、互联网企业、服务器厂商等，并持续深化与多个领域知名客户的合作。 ...

Group 1: Market Conditions and Pricing - The supply of storage wafers is expected to remain tight, with limited incremental contribution to output in 2026 due to the cautious capacity expansion strategy of major manufacturers [2] - According to CFM's forecast, the price increase for Mobile eMMC/UFS in Q1 2026 is projected to be between 25% and 30%, while LPDDR4X/5X is expected to rise by 30% to 35% [2] - PC DDR5/LPDDR5X prices are anticipated to increase by 30% to 35%, and cSSD prices are expected to rise by 25% to 30% [2] Group 2: Supply Chain and Procurement - The company has established long-term direct cooperation with major global storage wafer manufacturers, ensuring a diversified supply chain and a competitive advantage in wafer supply [3] - Supplier information is disclosed in public documents such as the prospectus [3] Group 3: Product Development and Competitive Advantage - The self-developed main control chip plays a critical role in managing data between storage particles and CPUs, significantly impacting overall performance [3] - The company has deployed over 100 million self-developed main control chips by the end of Q3, with UFS4.1 products gaining recognition from major storage manufacturers and Tier 1 clients [3] - The enterprise storage products have been integrated into the supply chains of leading internet companies, covering various sectors including telecommunications and server manufacturers [3] Group 4: Disclosure and Compliance - The investor relations activity did not involve any undisclosed significant information [3]

Capital Market Highlights - The China Securities Regulatory Commission (CSRC) Chairman Wu Qing emphasized the need to enhance the inclusiveness and adaptability of capital market systems [5] - The highly anticipated company Moore Threads debuted on the STAR Market with an issue price of 114.28 yuan per share, making it the most expensive new stock this year, with market expectations for over 100,000 in returns [5] - The brokerage firms released their December stock picks, with notable mentions including Zhongji Xuchuang (8 firms), Alibaba (7 firms), and Hengli Hydraulic (6 firms) [5] Industry Insights - The robotics sector saw a significant rise in shares of Gushen Intelligent, supported by the Trump administration's push for robotics development, alongside reports of a US-China robotics arms race [8] - The second Phosphorus-Lithium Industry High-Quality Development Conference is taking place from December 5 to 7 in Guiyang, China, indicating heightened interest in the phosphorus-lithium sector [9] - Longxin Technology, a domestic storage giant, is set to submit its IPO prospectus, marking it as the first and only IDM company in mainland China to achieve large-scale production of general-purpose DRAM [9] Company Developments - CATL announced plans to achieve long-distance ocean navigation for pure electric vessels within three years [9] - Xingfa Group received an order from BYD for the processing of 80,000 tons of lithium iron phosphate [9] - Chaoying Electronics plans to invest $100 million in its Thai subsidiary for an AI computing power advanced PCB expansion project [9] - Geke Micro's image sensor products have cumulatively shipped over 100 million units [9] - Yunji Technology reported that its consumer electronics products are applied in mainstream smartphone brands such as Huawei and Xiaomi [9] - Meilixin plans to raise no more than 1.2 billion yuan through a private placement for semiconductor equipment precision structural components projects [9] - Huazhu High-Tech intends to establish a joint venture to enter the 3D printing service sector [10] - Jiangbolong announced that its enterprise-level storage products have been integrated into the supply chain of leading internet companies [10] - Dong'e Ejiao plans to repurchase shares worth between 100 million to 200 million yuan for capital reduction [10] - Sun Cable's major shareholder plans to reduce its stake by no more than 3% [10]

Group 1: Market Trends and Supply Chain - The company is the second largest independent memory manufacturer globally and the largest in China, establishing long-term direct cooperation with major memory wafer suppliers through Long-Term Supply Agreements (LTA) and Memorandums of Understanding (MOU) to ensure stable supply of memory wafers [3] - AI technology is driving a surge in storage capacity demand, coupled with tight supply of high-capacity HDDs, leading cloud service providers to shift towards NAND Flash, which is expected to see explosive demand [2] Group 2: Pricing and Sales Strategy - The company determines product sales prices based on industry practices and customer characteristics, using framework agreements and order fulfillment, with prices dynamically adjusted according to market conditions [4] Group 3: Product Development and Performance - As of the end of Q3, the company has deployed over 100 million self-developed main control chips, which utilize advanced foundry processes and proprietary algorithms, leading to significant performance and power consumption advantages [5] - The enterprise storage business is experiencing rapid growth, supported by collaborations with major clients in telecommunications, internet companies, and server manufacturers, with the company ranking third in total capacity for enterprise SATA SSDs in China as of H1 2025, and first among domestic brands [6] Group 4: UFS4.1 Product Commercialization - The company is among a few globally capable of developing UFS4.1 products at the chip level, with its UFS4.1 products recognized for superior process, read/write speed, and stability, accelerating the adoption process with major Tier 1 clients [7]

Core Viewpoint - The company, Jiangbolong, is positioned as a leading independent storage device manufacturer, with significant growth in revenue and profit, and is actively expanding its market presence through strategic partnerships and product development. Group 1: Company Position and Supply Chain - The company is the second largest independent storage device manufacturer globally and the largest in China, which facilitates long-term direct cooperation with major global storage wafer suppliers through long-term supply agreements [2] - The company has established long-term supply agreements and commercial cooperation memorandums with storage wafer manufacturers to ensure a stable supply of storage wafers [2] Group 2: Product Development and Market Growth - As of the end of Q3 2025, the company has deployed over 100 million self-developed main control chips, which are expected to see rapid growth in application scale [3] - The company’s enterprise storage products have been integrated into the supply chains of leading internet companies, with a significant growth trend in enterprise storage business, ranking third in total capacity among Chinese enterprise-level ST SSDs as of H1 2025 [4] - The company’s UFS4.1 products, equipped with self-developed main control chips, outperform comparable market products in terms of process, read/write speed, and stability, gaining recognition from major clients [5] Group 3: Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 16.734 billion yuan, a year-on-year increase of 26.12%, and a net profit of 713 million yuan, up 27.95% year-on-year [6] - In Q3 2025 alone, the company achieved a main revenue of 6.539 billion yuan, a year-on-year increase of 54.6%, and a net profit of 698 million yuan, reflecting a significant increase of 1994.42% year-on-year [6] Group 4: Analyst Ratings and Predictions - In the last 90 days, 9 institutions have rated the stock, with 7 buy ratings and 2 hold ratings, indicating positive market sentiment [7] - The average target price set by institutions over the past 90 days is 311.8 yuan [7]

Group 1: Supply Chain and Production - The company is the second largest independent storage device enterprise globally and the largest in China, which aids in securing stable supply of storage wafers through long-term agreements with major suppliers [2][3] - The company has established long-term supply agreements (LTA) and memorandums of understanding (MOU) with storage wafer manufacturers to ensure continuous supply [2] Group 2: Self-Developed Chip Applications - As of the end of Q3, the company has deployed over 100 million self-developed main control chips, utilizing advanced foundry processes and proprietary IP [3] - The self-developed main control chip is currently undergoing validation with multiple Tier 1 manufacturers, indicating potential for rapid growth in deployment scale [3] Group 3: Enterprise Storage Business - The enterprise storage products have been integrated into the supply chains of major internet companies, covering sectors such as telecommunications and server manufacturing [3] - According to IDC data, the company ranked third in total capacity for enterprise-grade SATA SSDs in China for the first half of 2025, and first among domestic brands [3] Group 4: UFS4.1 Product Development - The company is among a few globally capable of developing UFS4.1 products at the chip level, with its products outperforming competitors in terms of process, read/write speed, and stability [3] - The UFS4.1 products have gained recognition from major storage manufacturers and several Tier 1 clients, with acceleration in the introduction process [3]

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].