Core Viewpoint - Despite the ongoing impact of SSDs on the consumer HDD market, there remains significant demand for HDDs in data centers, enterprise storage, and big data processing due to their advantages in large capacity and low-cost storage [1] Company Summary - As of the first half of 2025, the sales volume of the company's substrate business has significantly increased compared to the same period last year [1] - The sales volume of the hard disk head business has declined year-on-year due to the impact of customer capacity layout shifts [1] - The company aims to seize opportunities from the explosive growth in data storage demand and the upcoming technological upgrades in the storage industry driven by innovations such as HAMR (Heat-Assisted Magnetic Recording) [1] - The company plans to continuously optimize its product matrix and business model while actively expanding into emerging business areas to maintain its technological leadership in the storage industry [1]

Company Overview - Shenzhen Great Wall Development Technology Co., Ltd. is a leading global professional electronic manufacturing company, consistently ranked among the top in the Electronic Manufacturing Service (EMS) industry according to Manufacturing Market Insider (MMI) [2] - The company focuses on providing one-stop electronic product manufacturing services, including R&D, process design, production, supply chain management, logistics, and sales [2] Business Segments - The company has established three main business strategies: storage semiconductors, high-end manufacturing, and intelligent metering terminals [2] Market Dynamics - Despite the ongoing impact of SSDs on the consumer HDD market, HDDs still have significant demand in data centers, enterprise storage, and big data processing due to their large capacity and low-cost storage advantages [3] - As of mid-2025, the company's sales volume of disk substrates has significantly increased compared to the same period last year, while the sales volume of hard disk heads has decreased due to client capacity layout shifts [3] Future Outlook - The storage industry is expected to undergo a technological upgrade wave driven by explosive growth in data storage demand and innovations such as Heat-Assisted Magnetic Recording (HAMR) [3] - The company plans to optimize its product matrix and business model while actively exploring emerging business areas to maintain its technological leadership in the storage industry [3] Production Capacity and Expansion - The company is currently operating smoothly, with production capacity meeting order demands. Future expansion plans will be driven by customer demand growth [3] Digital Transformation - The company is deepening its digital transformation with a focus on smart manufacturing, digital operations, and intelligent supply chains [3] - Key initiatives include the implementation of IoT data collection projects across multiple divisions and overseas factories, AI visual inspection technology, and upgrades to the Manufacturing Execution System (MES) for improved responsiveness [3] Compliance and Information Disclosure - The company adheres strictly to information disclosure regulations, ensuring that all disclosed information is true, accurate, complete, timely, and fair, with no significant undisclosed information leaks [4]

据TrendForce报道，西部数据近日通知客户将逐步提高所有HDD（机械硬盘）产品的价格；公司声称， 其存储产品组合中每种容量的需求都达到了前所未有的水平，并且该公司正在投资先进的创新技术。 此前美股机械硬盘龙头西部数据股价收涨0.68%，报103.09美元/股，再度刷新历史新高，自今年低点涨 幅超两倍。 中信证券指出，自2023年以来，AI驱动全球数据中心存储需求显著提升，HDD较SSD在容量、成本层 面优势明显，成为欧美云厂商近线存储首选。目前美股公司希捷科技、西部数据贡献全球80%产能，经 历2021年下行周期后，企业短期扩产意愿&动力不足，且扩产周期一般需要12~18个月左右。 深科技：掌握硬盘磁头与硬盘盘基片核心制造技术，拥有自主产权的全自动高精密头堆、盘基片生产 线，主要产品包括硬盘磁头、盘基片、HDD机械硬盘。 智迪科技：公司磁电存储芯片主要用于数据的存储和读取。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 其认为，本轮数据中心HDD上行周期自2024年开始，当前主要企业产品交期、订单能见度基本在一年 以上，行业供需偏紧的态势有望至少延续至2026下半年左 ...