"支撑AI大模型的底层基础设施——服务器、数据中心、存储，有望从2024年的1490亿美元增长到2030 年的3400亿美元，是半导体市场中增长最快的部分。"11月19日，国际半导体产业协会（SEMI）中国总 裁冯莉在2025年产业链供应链国际合作交流会暨企业家太湖论坛分论坛——集成电路产业链合作对接交 流会上指出。 AI浪潮不仅点燃了以GPU为代表的逻辑芯片，也拉动了对存储芯片的需求。 今年以来，三星、SK海力士等国际存储巨头逐渐将部分DRAM产能转向HBM，同时将NAND产能聚焦 于高层数、高性能产品，以满足AI需求。 这一集体转向也给存储市场留下了供给缺口。至讯创新科技（无锡）有限公司董事长汤强指出，由AI 算力基建驱动，2025年开始存储芯片迎来了"超级周期"。"业内人士预计在接下来数年内，存储芯片都 会处于缺货状态。因此，这次周期也为存储代工的发展提供了机会。" 代工需求激增 "出于管理效率、成本控制等考虑，国际存储大厂量产的技术节点通常不超过3-4代。当主流技术推进到 300层左右时，100层以下的中低层数3D NAND逐渐被大厂放弃。"汤强指出。 眼下，随着国际存储大厂主动战略收缩，也给国内带来 ...

Core Viewpoint - The company, Purun Semiconductor (Shanghai) Co., Ltd., is acquiring a controlling stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. to enhance its storage portfolio amid profit pressure in its main business [1][6]. Group 1: Acquisition Details - Purun plans to invest 144 million yuan to acquire 31% of Noah Changtian, increasing its stake from 20% to 51% [1]. - The acquisition targets Noah Changtian's 100% ownership of SkyHigh Memory Limited (SHM), which serves as a holding platform for the acquisition [1]. Group 2: Strategic Intent - The acquisition aims to integrate Purun's existing NOR Flash and EEPROM business with SHM's NAND flash product line, creating a comprehensive non-volatile storage product portfolio [2]. - SHM specializes in high-performance 2D NAND and related memory products, with applications in various sectors including industrial control and smart devices [2][3]. Group 3: Market and Financial Insights - SHM reported revenue of 687 million yuan and a net profit of 47.49 million yuan for the first eight months of 2025, indicating its independent profitability [2]. - Purun's main revenue comes from the Chinese market, while SHM's revenue is primarily from overseas, allowing for effective sales channel complementarity [3]. - Purun ranks sixth globally in NOR Flash sales, with a record shipment of over 4.9 billion units in 2024 [3]. Group 4: Industry Context - The global SLC NAND market is projected to grow from $2.31 billion in 2024 to $3.44 billion by 2029, driven by demand from AI and automotive sectors [4]. - The NAND Flash market is experiencing structural shortages due to rising AI storage demands and insufficient HDD supply, expected to last until 2026 [7]. - Current market dynamics suggest that existing suppliers will maintain stable positions due to high entry barriers and long validation cycles for new entrants [7].

Core Viewpoint - The company plans to acquire a 31% stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. for a total transaction amount of RMB 144 million, which will result in the company holding a 51% stake and gaining control over the target company SkyHigh Memory Limited [1] Group 1: Acquisition Details - The acquisition involves signing a share transfer agreement with three shareholders of the target company [1] - The total transaction amount for the acquisition is RMB 144 million [1] - Upon completion of the transaction, the company will achieve controlling interest in the target company [1] Group 2: Business Focus - The company specializes in the design and sales of non-volatile memory chips, specifically NOR Flash and EEPROM [1] - The target company focuses on providing high-performance 2D NAND and derivative memory products and solutions [1] - The acquisition is expected to create significant business synergies between the company and the target company [1]

Core Viewpoint - The company, 普冉股份 (688766.SH), plans to acquire a 31% stake in 珠海诺亚长天存储技术有限公司 for a total of 144 million RMB, which will result in the company holding a 51% controlling interest in the target company [1] Group 1: Acquisition Details - The acquisition involves a total transaction amount of 144 million RMB [1] - After the transaction, the company will gain control over the target company, which will allow it to indirectly control SkyHigh Memory Limited [1] Group 2: Business Focus - The company specializes in the design and sales of NOR Flash and EEPROM non-volatile memory chips, as well as derivative chips based on these storage chips [1] - The target company focuses on providing high-performance 2D NAND and derivative memory products and solutions, including SLC NAND, eMMC, and MCP [1] Group 3: Expected Synergies - The completion of this transaction is expected to create positive business synergies between the company and the target company [1]

公众号记得加星标⭐️，第一时间看推送不会错过。 来 源 ： 内容 编译自zdnet 。 *免责声明：本文由作者原创。文章内容系作者个人观点，半导体行业观察转载仅为了传达一种不同的观点，不代表半导体行业观察对该 观点赞同或支持，如果有任何异议，欢迎联系半导体行业观察。 END 今天是《半导体行业观察》为您分享的第 4226 期内容，欢迎关注。 推荐阅读 SK海力士已出售其持有的全部股份，这些股份来自一家主要生产老款NAND闪存产品的关联公司。 此举被解读为SK海力士有意清算非核心业务，因为该公司目前专注于包括人工智能在内的高附加值 NAND闪存研发。被出售的公司将由一家中国半导体公司管理。 根据 SK 海力士 15 日发布的季度报告，该公司在今年第三季度出售了其子公司 SkyHigh Memory Limited 的所有股份。 Skyhigh Memory 成 立 于 2019 年 。 其 主 要 重 点 是 开 发 2D NAND （ 半 导 体 行 业 中 的 一 种 传 统 存 储 器），并供应单层单元（SLC）NAND和移动NAND（eMMC）。 Skyhigh Memory是由SK海力士系统集成电路（ ...

Core Viewpoint - The NOR Flash market is experiencing a price increase driven by rising raw material costs and improved supply-demand dynamics, with some products seeing price hikes of over 30% in less than a month [1][4]. Group 1: Price Increases and Market Dynamics - A significant price increase of at least 10% has been initiated by major NOR Flash manufacturers in the A-share market, including companies like Zhaoyi Innovation and Puran [1][4]. - The price hikes are attributed to increased costs from upstream raw materials, wafer fabrication, and packaging testing, necessitating a collaborative approach to share cost pressures with clients [1][4]. - The demand for NOR Flash is being bolstered by the rise of AI applications, which require higher average capacities and quantities, alongside improving downstream inventory levels [4]. Group 2: Company Performance and Financials - Puran reported a revenue of 1.43 billion yuan for the first three quarters of 2025, a year-on-year increase of 4.9%, but a net profit decline of 73.7% to 59.05 million yuan [3]. - In Q3, Puran's revenue was 527 million yuan, reflecting a quarter-on-quarter growth of 5.24%, but a significant year-on-year net profit decline of 79.4% [3]. - The company faced challenges from unsold inventory, leading to substantial impairment provisions that affected overall profitability [3]. Group 3: Technological Advancements and Product Offerings - Puran's NOR Flash products utilize advanced SONOS and ETOX technologies, with capacities ranging from 512 kbit to 1 Gbit, suitable for various applications including TWS headphones and automotive navigation [5]. - The company is currently negotiating price changes for NOR Flash storage chips with downstream clients, indicating some improvement in product pricing compared to Q3 [5]. Group 4: Strategic Acquisitions and Market Expansion - Puran is actively pursuing growth through acquisitions, including a planned cash purchase of controlling interest in Zhuhai Noah Changtian Storage Technology Co., which will enhance its position in the NAND market [6]. - The acquisition of SkyHigh Memory Limited, a company specializing in high-performance 2D NAND products, is expected to complement Puran's existing customer base and enhance global market competitiveness [7]. - SkyHigh's product offerings, including SLC NAND and eMMC, are aimed at high-stability and high-speed applications, which align with Puran's strategic goals in expanding its product portfolio [7].

Core Viewpoint - The stock price of Puran Co., Ltd. surged significantly following the announcement of its intention to acquire control of Zhuhai Noah Changtian Storage Technology Co., Ltd., aiming to enhance its competitiveness in the memory chip sector and expand its product line [1][2]. Company Summary - Puran Co., Ltd. is a chip design company, with its storage series chips being the core business, generating revenue of 673 million yuan in the first half of the year, accounting for 74.23% of total revenue, although this represented a year-on-year decline of 6.98% [3]. - The company reported total revenue of 907 million yuan, a year-on-year increase of 1.2%, but net profit attributable to shareholders fell by 70% to 40.73 million yuan, with a significant drop in non-recurring net profit by 82.4% to 26.65 million yuan [3]. - The company primarily operates in the NOR Flash and EEPROM markets, which are relatively smaller segments within the broader memory chip market dominated by DRAM and NAND Flash [3]. Industry Summary - The acquisition of SHM, which specializes in high-performance 2D NAND and derivative memory products, is seen as a strategic move to enter the NAND Flash segment and diversify the product offerings [4]. - The demand for high-performance storage chips is expected to grow significantly due to the rise of AI applications, with AI servers requiring DRAM and NAND at rates significantly higher than traditional servers [4]. - The 2D NAND technology, while less advanced than the mainstream 3D NAND, offers lower manufacturing costs and could allow Puran to capture market share in traditional sectors as larger companies shift focus to higher-margin products [5].

Group 1 - Company is planning to acquire a controlling stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. through cash payment, which will enhance its core competitiveness in storage chips and expand its product line [2] - The acquisition will lead to indirect control over SkyHigh Memory Limited, a semiconductor company focused on high-performance 2D NAND and derivative storage products [2] - SkyHigh Memory has a solid global customer base and operates independently in various regions, including Asia, Europe, and North America, with applications in industrial control, security, wearables, and smart terminals [2] Group 2 - The global semiconductor industry is experiencing rapid growth, with new opportunities in the storage chip market driven by AI applications, smart vehicles, 5G communication, and IoT [3] - The SLC NAND market is projected to grow from $2.31 billion in 2024 to $3.44 billion by 2029, with a compound annual growth rate of 5.8% [3] - Achieving independent research and mass production of advanced 2D NAND technology is crucial for promoting domestic alternatives and accumulating high-end storage experience [3] Group 3 - The integration of the two companies will result in product, market, and technology synergies, enhancing overall competitiveness in the storage chip sector [4] - The product portfolio will be complemented by combining NOR Flash, EEPROM, and MCU from the company with SLC NAND, eMMC, and MCP from SkyHigh Memory [4] - The merger will create a global sales network, leveraging the company's focus on the Chinese market and SkyHigh Memory's overseas presence [4]

Group 1 - The company is planning to acquire a controlling stake in Zhuhai Noah Changtian Storage Technology Co., Ltd. through a cash transaction, which will allow the company to indirectly control SkyHigh Memory Limited [2][4] - The transaction is expected to complement the company's product, market, and technology offerings, enhancing its core competitiveness in the non-volatile storage product sector [2][16] - As of the announcement date, the transaction is still in the due diligence and auditing phase, and no formal agreement has been signed yet [2][19] Group 2 - The target company, Zhuhai Noah Changtian, was established to acquire SHM, which specializes in high-performance 2D NAND and derivative storage products [5][14] - SHM has a strong market presence with a mature sales network across Asia, Europe, and North America, providing high-quality flash memory solutions [5][7] - The global semiconductor industry is experiencing rapid growth, driven by technological advancements and increasing market demand, particularly in the storage chip sector [6] Group 3 - The acquisition is anticipated to create synergies in product offerings, market reach, and technological capabilities between the company and the target company [16][17] - The company primarily focuses on NOR Flash and EEPROM, while the target company specializes in SLC NAND, eMMC, and MCP products, allowing for a comprehensive non-volatile storage product portfolio [16] - The global market for SLC NAND is projected to grow from $2.31 billion in 2024 to $3.44 billion by 2029, with a compound annual growth rate of 5.8% [6]

Core Insights - The explosive growth of artificial intelligence technology is driving an exponential increase in demand for high-performance, high-bandwidth storage chips, indicating a new growth cycle for the storage industry [1] Company Strategy - The company, Zhixun Innovation Technology, chose to enter the market with 2D NAND due to observed high demand in low-capacity segments, despite the existing competition in the domestic market [2] - The founders have a background in the storage market, having previously worked at Micron and Changchun, which informs their strategic decisions [2] - The company has successfully covered SLC capacity points from 256M to 8G in 2D NAND and is also developing MLC product lines as international competitors exit this segment [2][3] Technological Development - The company's 19nm 2D NAND products are now competitive with the most advanced international processes, showcasing significant technological advancement [3] - The company is also developing integrated storage and computing products to support AI applications, aiming to optimize cost and power consumption [3] Market Dynamics - The storage chip market is experiencing "involution" and price wars due to standardization, leading to a focus on innovation to avoid product homogenization [4] - The company emphasizes the importance of maintaining product profitability to support ongoing research and development, rather than solely competing on price [4] Regional Development - Wuxi's strong semiconductor manufacturing base, including major players in wafer manufacturing and packaging/testing, provides a favorable environment for the company's growth [5][6] - The company aims to collaborate with local application enterprises to innovate and apply their products across various sectors, including IoT, new energy, and smart vehicles [6]