Investment Rating - The report maintains a "Buy" rating for the company, expecting significant growth in stock performance relative to the benchmark index [5][12]. Core Insights - The demand for enterprise-level SSDs is expected to rise significantly due to the increasing need for data storage driven by AI applications. The global data volume is projected to grow from approximately 120ZB in 2023 to 393.8ZB by 2028, which will enhance the capacity of the Chinese enterprise SSD market to around 58EB by 2024 [3][4]. - The company has successfully developed and launched its proprietary brand "Haipu Storage," focusing on domestic and customized solutions, with products like enterprise-level DDR4, DDR5, and Gen4 eSSD already in production [3]. - The company is positioned to benefit from the rising prices of DDR4 memory, as the market is expected to experience a supply-demand imbalance, leading to price increases. This situation is further exacerbated by the strong demand from server orders, which is pushing PC and consumer markets to adapt [4]. Financial Projections - Revenue projections for the company are as follows: 2025 at 330 billion yuan, 2026 at 432 billion yuan, and 2027 at 564 billion yuan. Corresponding net profits are expected to be 6 billion yuan, 8 billion yuan, and 10.5 billion yuan respectively [5][10]. - The company anticipates a revenue growth rate of 115.4% for 2024, followed by 36% in 2025, and around 30% for both 2026 and 2027 [10][11]. - The earnings per share (EPS) are projected to increase from 0.57 yuan in 2024 to 2.26 yuan by 2027, indicating a strong growth trajectory [10][11].