深圳市德明利技术股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、本期业绩预计情况 （一）业绩预告期间 （二）业绩预告情况 预计净利润：? 亏损 亏损：8,000 万元–12,000 万元 证券代码：001309 证券简称：德明利 公告编号：2025-053 金额：380,000 万元–420,000 万元 营业收入 归属于上市公司 盈利：38,764.72 万元 股东的净利润 比上年同期减少：120.64%-130.96% 亏损：8,450 万元–12,450 万元 扣除非经常性损 盈利：36,997.57 万元 益后的净利润 比上年同期减少：122.84%-133.65% 金额：217,608.82 万元 比上年同期增长：74.63%-93.01% 基本每股收益 亏损：0.49 元/股-0.74 元/股 盈利：2.63 元/股 备注：上年同期基本每股收益已按照除权调整后的股本重新计算。 二、与会计师事务所沟通情况 本期业绩预告相关的财务数据是公司财务部门初步测算的结果，未经会计师 事务所审计。 三、业绩变动原因说明 供需结构改善，推动整体 ...

证券分析师： 余春生 S0350513090001 yucs@ghzq.com.cn [Table_Title] 晨会纪要 ——2025 年第 112 期 2025 年 07 月 04 日 晨会纪要 研究所： 观点精粹: 最新报告摘要 朗科科技(300042.SZ)深度报告：积极布局算力生态，韶关"东数西算"核心受益--朗科科技/计算机设备 (300042/217101) 公司 PPT 报告 证券研究报告 1、最新报告摘要 1.1、朗科科技(300042.SZ)深度报告：积极布局算力生态，韶关"东数西算" 核心受益--朗科科技/计算机设备(300042/217101) 公司 PPT 报告 分析师：刘熹 S0350523040001 存储行业引领者，韶关国资委为公司实控人 公司是闪存盘的发明者，成立于 1999 年，于 2010 年在创业板上市，经过二十余年的行业积累，产品覆盖 SSD、 DDR、嵌入式存储和移动存储等多个品类，远销 60 多个国家及地区，产品应用于手机、平板电脑、电子计算 机等下游领域。2022 年 4 月韶关城投通过司法拍卖的方式获得公司 4987.5 万股。截至 2024 年年报，韶关城 ...

Core Viewpoint - Changjiang Storage's parent company, Changjiang Storage Technology Holding Co., Ltd. (Chang控集团), has undergone a change in its business registration, increasing its registered capital from 111.81207 billion to 113.27896 billion yuan, marking an increase of approximately 1.467 billion yuan [1]. Group 1: Shareholder Changes - New shareholders include Wuhan Smart Chip Plan No. 1 Enterprise Management Partnership (Limited Partnership) holding 0.2295% and Wuhan Smart Chip Plans No. 2 to No. 6, each holding 0.2131%, totaling 1.295% with a subscribed capital of 1.4668966 million yuan [2]. - The new shareholders are structured in a dual-layer nested format, with the second to fifth partnerships having a total of 24 underlying partnerships, all named under the "Smart Chip Plan" [2]. Group 2: Employee Stock Ownership Plan - The newly added Smart Chip Plan serves as an employee stock ownership platform primarily for senior management and technical staff of Chang控集团 [5]. - An increase of 2.127 billion yuan (1.295% of total registered capital) is planned for the employee stock ownership platform, which is currently in preparation [5]. Group 3: Company Valuation and Business Overview - Chang控集团's valuation is estimated to reach 164.25 billion yuan, with its core business encompassing the R&D and production of 3D NAND flash memory, embedded storage chips, and solid-state drives [5]. - Changjiang Storage has been recognized as a significant flash memory manufacturer in China, recently entering the Hurun Research Institute's 2025 Global Unicorn List with a valuation of 160 billion yuan [5]. Group 4: Recent Investments - On April 25, 2023, Huangyuan Zhihui Beverage Co., Ltd. announced a 1.6 billion yuan investment in Chang控集团, resulting in a 0.99% stake [6]. - Following the entry of the employee stock ownership platform, the number of shareholders in Chang控集团 has expanded to 29, diluting the holdings of existing shareholders [6].

（2025 年 6 月 30 日，北京）—— 中国 IC 独角兽联盟今日正式揭晓 "中国半导体行业高质量发展创新成果征 集" 活动获评榜单，涵盖领军人物、领军企业、优秀解决方案/产品三大类别，全面展现国内集成电路全产业链 的创新实力与发展成果。本次榜单聚焦设计、制造、封装、测试、材料、装备等关键环节，旨在通过标杆示范 推动行业技术突破与生态协同，助力中国半导体产业实现高质量发展。 一、领军人物：技术创新与产业变革的核心驱动力 三、优秀解决方案 / 产品：技术突破与市场落地的双重验证 榜单涵盖十大创新产品与解决方案，覆盖 AI 芯片、存储技术、汽车电子等热门领域，展现技术产业化的深度 融合。 1、北京安声科技有限公司 2024-2025中国智能耳机全链路最佳解决方案--智能耳机全链路 2、江苏神州半导体科技有限公司 榜单评选出十位在技术研发、企业管理与产业协同中表现突出的领军人物，他们凭借前瞻性战略布局与技术突 破，为行业发展注入新动能。 二、领军企业：全产业链协同发展的标杆力量 榜单表彰十家在细分领域具有领先地位的企业，其技术创新与市场表现为行业树立典范。 1、海世高半导体科技（苏州）有限公司 总经理 曹龙吉 ...

公众号记得加星标⭐️，第一时间看推送不会错过。 6月18日，上海世界移动通信大会（MWC 2025）在上海新国际博览中心盛大启幕。德明利 以"智存无界，全栈智能"为主题首秀MWC，携嵌入式存储全栈解决方案亮相，全面展现其在 智能终端、工业控制等领域的深度布局。 AI驱动存储升级，德明利顺势而上 在本届MWC围绕5G、AI+等热点展开的行业对话中，德明利嵌入式销售总监王天益在接受采访时指 出："AI应用爆发性增长推动存储需求向低能耗、高集成度演进。"这直接带动了如LPDDR、UFS等 嵌入式存储产品的需求激增。这一趋势在德明利的业绩中得到充分体现：公司2024年嵌入式存储业务 实现营收8.43亿元，同比增长高达1730.6%，占公司总营收的17.7%。目前，其嵌入式产品已成功进 入多家知名企业的供应链体系，并在品牌终端和行业客户方面均取得了重要突破。 紧抓需求， 嵌入式存储产品矩阵亮相MWC 展会现场，德明利展示了面向不同应用场景的嵌入式产品： 面向AI终端（如AIPC、AI手机、智能穿戴等），重点展出了高性能、低功耗、大容量的eMMC、 UFS、LPDDR4X/5/5X等嵌入式存储产品，满足移动智能终端的多样 ...

5月30日晚，江波龙(301308)披露了2024年年度报告及其摘要的更正公告。公告称，因年报期间工作量大，涉及数据和信息较多，未能及时发现少数错误。 此外，还有现金流的相关数据更正。更正前，投资活动产生的现金流量净额同比减少33.67%，现金及现金等价物净增加额同比减少73.70%。更正后，投资 活动产生的现金流量净额同比增加33.67%，现金及现金等价物净增加额同比增加73.70%。 另外，更正后的财报，在"第二节 公司简介和主要财务指标"之"八、非经常性损益项目及金额" 及"第十节 财务报告"之"二十、补充资料"之"1、当期非经常 性损益明细表"中追加了"由于公司对参股公司上海捷策创股份有限公司不再施加重大影响，因此将该长期股权投资转换指定为以公允价值计量且其变动计入 损益的非流动金融资产，由于会计科目核算的转变，视同处置长期股权投资并确认投资收益。"的相关描述。 资料显示，江波龙是半导体存储品牌企业,拥有行业类存储品牌FORESEE和国际高端消费类存储品牌Lexar(雷克沙)。主营业务覆盖嵌入式存储、固态硬盘、 移动存储和内存条四大产品线。 江波龙于2024年披露筹划赴港二次上市，今年4月发布公告称， ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5][28][31] Core Views - The company is experiencing a short-term revenue decline due to storage price impacts, with a revenue of 1Q25 at 1.543 billion yuan, down 10.62% YoY and 7.58% QoQ. However, a gradual recovery in storage prices is expected in 2Q25, which may lead to performance improvement [1][20][28] - Embedded storage revenue for 2024 reached 4.241 billion yuan, a significant increase of 151.68% YoY, with products entering major client supply chains. AI-related products are also seeing rapid revenue growth, particularly in AI glasses, which are expected to grow over 500% YoY in 2025 [2][28] - The company is making steady progress in wafer-level advanced packaging, which is anticipated to drive long-term growth. The enterprise-level and automotive-grade storage segments are also expanding successfully [3][28] Summary by Sections Financial Performance - 1Q25 revenue was 1.543 billion yuan, with a net profit of -216 million yuan, reflecting a significant decline in profitability due to increased R&D expenses and inventory write-downs [1][28] - The company forecasts a gradual recovery in revenue, with expected net profits of 178 million yuan, 200 million yuan, and 382 million yuan for 2025, 2026, and 2027 respectively [28][29] Revenue Breakdown - Embedded storage is projected to generate revenues of 5.439 billion yuan, 6.459 billion yuan, and 7.363 billion yuan from 2025 to 2027 [28] - PC storage revenue is expected to be 2.206 billion yuan, 2.283 billion yuan, and 2.363 billion yuan for the same period [28] - Automotive-grade storage revenue is anticipated to grow to 155 million yuan, 294 million yuan, and 418 million yuan from 2025 to 2027 [28] Market Trends - The global storage market is experiencing a cyclical downturn, with NAND Flash prices expected to stabilize in 2Q25 after a decline in 1Q25. The company is well-positioned to benefit from this recovery [20][24] - The demand for AI-related storage products is increasing, particularly in the context of AI glasses and high-performance PC storage solutions [2][3][28]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][28][31] Core Views - The company is experiencing a short-term revenue decline due to storage price impacts, with a revenue of 1Q25 at 1.543 billion yuan, down 10.62% YoY and 7.58% QoQ. However, a gradual recovery in storage prices is expected in 2Q25, which may lead to performance improvement [1][20][28] - Embedded storage revenue for 2024 reached 4.241 billion yuan, a significant increase of 151.68% YoY, with products entering major client supply chains. AI-related products are also seeing rapid revenue growth, particularly in AI glasses, which are expected to grow over 500% YoY in 2025 [2][28] - The company is making progress in enterprise-level and automotive-grade storage, with advanced wafer-level packaging expected to drive long-term growth. The company has passed various tests and is set to meet advanced storage packaging demands [3][28] Summary by Sections Financial Performance - 1Q25 revenue was 1.543 billion yuan, with a net profit of -216 million yuan, reflecting a significant decline in profitability due to increased R&D expenses and inventory write-downs [1][28] - Revenue projections for 2025-2027 are 1.78 billion, 2.00 billion, and 3.82 billion yuan respectively, with corresponding PE ratios of 156, 139, and 73 [3][28] Revenue Breakdown - Embedded storage is projected to generate revenues of 5.439 billion, 6.459 billion, and 7.363 billion yuan from 2025 to 2027, driven by a recovery in storage prices and increased shipments [28] - PC storage revenue is expected to be 2.206 billion, 2.283 billion, and 2.363 billion yuan for the same period, benefiting from a gradual market recovery [25][28] - Automotive-grade storage is anticipated to grow to 1.55 billion, 2.94 billion, and 4.18 billion yuan from 2025 to 2027, as customer adoption increases [26][28] Market Trends - The global storage market is experiencing a cyclical downturn, with NAND Flash prices expected to stabilize in 2Q25 after a decline in 1Q25. The company anticipates a recovery in prices due to inventory adjustments and increased demand from OEMs [20][24][28] - The company is well-positioned in the supply chains of major clients across various sectors, including AI, automotive, and consumer electronics, which supports its growth outlook [2][3][28]

南都讯 记者林敏儿 通讯员蒋蒙 5月22日，第六届深圳国际人工智能展览会在深圳会展中心（福田）盛 大启幕，吸引来自全球15个国家和地区的300余家顶尖企业参展。本次展会，福田区以"1+3+N"参展体 系亮相，即1个福田区展馆，3大"科技创新极"——华强北展团、深圳新一代产业园、深港科创，"N"家 福田区人工智能企业以及携科技成果参会的赛格集团，全面展示福田的AI"硬实力"。在这场高规格的科 技盛会中，梅林片区作为福田区AI产业发展的重要载体，组团亮相，向全球展示了从芯片、算法、算 力、终端到多元应用场景的完整人工智能生态链条。 其中，梅林街道共组织15家高成长科技企业参展，包括新一代产业园13家"AI科技先锋"企业以及辖区内 其他人工智能应用标杆代表，集中呈现了"创智绿谷"与"智慧硅园"双核驱动的梅林AI生态版图。 技术深、产业广：全链条人工智能产业体系初成 梅林片区的人工智能企业覆盖了芯片设计、传感器开发、AI终端、智慧应用、大模型、行业解决方案 等多个关键环节，构建起一条从底层技术到高端应用的完整产业链条。 在展会现场，深圳市燃气集团股份有限公司现场展示了AI+场站巡检（场站巡检无人机器人、移动智能 监控 ...

"公司始终聚焦存储芯片核心主业，持续加大研发投入以强化技术自主可控能力，各项产品研发与业务 拓展有序推进。2024年公司营收与净利润实现大幅增长，新增重点业务销售占整体营收比例显著提升， 2025年将继续深化在AI服务器、数据中心、智能终端、工业控制等新兴领域的技术适配与市场拓展。"5 月20日，德明利（001309）董事长李虎在2024年度暨2025年一季度业绩说明会上表示。 2024年，德明利实现营业总收入47.73亿元，同比增长168.74%；实现归母净利润3.51亿元，同比增长 1302.30%。2025年一季度，公司营业收入为12.52亿元，同比增长54.41%，归母净利润为亏损6909万 元。 对于2025年一季度业绩亏损的情况，李虎解释称，公司业绩阶段性承压主要受行业周期波动、市场需求 结构性调整及阶段性成本压力影响，对短期盈利形成一定挑战。随着行业景气度回升，公司整体经营状 况有望迎来改善。同时，公司正通过加速高端产品布局，如企业级存储、工规级存储、手机嵌入式存储 等，优化供应链管理、强化研发投入与客户认证效率等措施，积极应对市场变化，努力提升经营质量与 盈利能力。 德明利董事、总经理杜铁军也 ...