中证智能财讯江波龙（301308）12月2日晚间公告，公司拟向特定对象发行股票不超过1.257亿股，募集 资金总额不超过37.00亿元，扣除发行费用后将用于面向AI领域的高端存储器研发及产业化项目、半导 体存储主控芯片系列研发项目及半导体存储高端封测建设项目。 此外，公司拟将本次募资中的11亿元用于补充流动资金，以满足公司业务发展对营运资金的需求，优化 资本结构，保障公司主营业务持续稳健发展。 资料显示，公司主营业务为半导体存储应用产品的研发、设计、封装测试、生产制造与销售。近年来， 公司业务在存储器基础上，已拓展至主控芯片设计、存储芯片设计等集成电路设计领域。 2022年至2025年三季度分别实现营业收入83.30 亿元、101.25 亿元、174.64 亿元和167.34亿元，复合增 长率达44.79%。 （文章来源：中国证券报·中证网） 公司将围绕存储器产品应用技术开发、NANDFlash主控芯片设计、存储芯片封装测试三大核心产业链 环节加大投入，面向以AI为代表的新市场需求，提升各环节技术实力、扩充产品矩阵、提升品牌和市 场影响力，进而提升上市公司持续盈利能力和资本市场价值。 具体来看，高端存储器研发 ...

Core Insights - The semiconductor industry in China is experiencing a structural recovery in 2024, driven by the explosive demand for AI computing power and accelerated domestic substitution [1] - Demingli (001309) has achieved significant growth in both revenue and net profit due to its self-research capabilities and strategic layout, with annual revenue reaching 4.773 billion yuan, a year-on-year increase of 168.74%, and net profit of 351 million yuan, a staggering increase of 1302.30% [1] Business Structure - Solid-state drives (SSDs) and embedded storage are becoming the core growth drivers for the company, with SSD revenue increasing by 235.46%, accounting for 48.20% of total revenue, and embedded storage revenue soaring by 1730.60%, now making up 17.67% of total revenue [2] - Combined, these two business segments contribute over 60% of the company's revenue, while mobile storage maintains stable growth with a year-on-year revenue increase of 29.20% [2] R&D and Technological Advancements - The company has significantly increased its R&D investment, with expenses reaching 203 million yuan in 2024, an increase of 88.14%, and the R&D team expanding to 312 members, a growth of 90.24% [2] - Demingli has established a fully self-researched technology closed loop, integrating "main control chip + firmware algorithm + medium analysis," enhancing its vertical integration capabilities from chip design to system optimization [2] Market Expansion and Product Development - The company has made breakthroughs in enterprise-level storage and industrial control, achieving R&D and mass production of enterprise-level SSD products and engaging with major internet, cloud service, and server manufacturers [3] - The production of the company's enterprise-level storage testing line will further shorten the product development and validation cycle, with plans to launch a full range of industrial-grade products this year [3]