证券日报网讯12月31日，朗科科技（300042）在互动平台回答投资者提问时表示，公司主营产品涵盖 SSD固态硬盘、DRAM内存条、嵌入式存储、移动存储等系列存储产品，以及可穿戴设备、电脑外设等 消费类电子产品。存储行业受供需关系影响存在周期属性，公司密切关注政策、客户需求及存储市场行 情变化灵活调整采购策略、库存策略及销售策略，保障生产经营、提升运营效率。 ...

Core Viewpoint - Longke Technology is actively engaging with investors and has outlined its main product offerings, which include various storage solutions and consumer electronics [1] Group 1: Product Offerings - The company primarily produces SSD solid-state drives, DRAM memory modules, embedded storage, and mobile storage products [1] - Additionally, Longke Technology offers consumer electronics such as wearable devices and computer peripherals [1]

Core Viewpoint - The company, Langke Technology, is expanding its product offerings to include server sales, although this segment has not yet significantly impacted its overall business performance [2]. Group 1: Product Offerings - The company's main products include SSD solid-state drives, DRAM memory modules, embedded storage, mobile storage, and consumer electronics such as wearable devices and computer peripherals [2]. - A wholly-owned subsidiary, Shaoguan Luyuan Langkun Technology Co., Ltd., has initiated server sales and has signed small batch orders with some deliveries completed [2]. Group 2: Business Impact - The server sales business has not yet had a major impact on the company's operating performance [2]. - Future project developments will be disclosed in accordance with relevant laws and regulations if they meet disclosure standards [2].

Core Viewpoint - Langke Technology (300042.SZ) is expanding its product offerings in the storage and consumer electronics sectors, indicating growth potential in its business operations [1] Group 1: Product Offerings - The company’s main products include SSD solid-state drives, DRAM memory modules, embedded storage, and mobile storage solutions [1] - Additionally, the company offers consumer electronics such as wearable devices and computer peripherals [1] Group 2: Business Development - The wholly-owned subsidiary, Shaoguan Luyuan Langkun Technology Co., Ltd., has initiated server sales and has signed small batch orders, with some deliveries already completed [1]

Core Viewpoint - The company has established a comprehensive product matrix in the storage core field, including SSDs, DRAM memory, embedded storage, and mobile storage, while also extending into consumer electronics such as wearable devices and computer peripherals [1] Group 1: Company Development - The company has formed a development pattern of "storage main business + computing power extension" [1] - The wholly-owned subsidiary, Shaoguan Luyuan Langkun Technology Co., Ltd., is actively expanding its server sales business [1] Group 2: Partnerships and Collaborations - The business cooperation with partners like Baode covers the entire range of Kunpeng and Ascend products [1]

1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - It is recommended to allocate in a balanced and growth - oriented style, emphasizing technology growth - style funds and also considering large - financial and pro - cyclical assets [1][3][15] 3. Summary According to Relevant Catalogs 3.1 Last Week's Market Review - **A - shares**: A - shares fluctuated last week. The communication, national defense and military industry, and electronics sectors performed well. The Shanghai Composite Index fell 0.34% to 3889.35 points, and the Shenzhen Component Index rose 0.84% to 13258.33 points. The trading volume of the two A - share markets increased by about 1256.4 billion yuan compared with the previous week [6] - **Bond market**: The bond market rose. The CPI in November 2025 rebounded year - on - year to 0.7%, and the PPI fell year - on - year to - 2.2%. The yield of most bonds declined, and the main bond indexes showed a mixed performance [7] - **US stocks and commodities**: US stocks fluctuated. The Dow Jones Industrial Average rose 1.05%, the S&P 500 Index fell 0.63%, and the Nasdaq Index fell 1.62%. Oil prices fell, and gold and silver prices rose [8] 3.2 Last Week's Fund Market Review - **Stock - type funds**: Stock - type funds rose 0.38% overall. Some funds heavily invested in overseas computing power, chip semiconductors and other sectors performed well. Index funds related to communication equipment, artificial intelligence, and semiconductors also had good performance [10] - **Bond - type funds**: Bond - type funds rose 0.07% overall. Partial - debt bond funds and convertible - bond funds with equity assets in electronics, military industry and other sectors performed well [11] - **QDII funds**: The overall performance of QDII equity - hybrid funds declined by 1%, while some funds mainly investing in the global technology field performed well. QDII bond funds fell 0.07% [11] - **Other funds**: The annualized yield of money market funds was 1.21%. Gold ETFs and their linked funds rose 0.8%, and commodity - type funds rose 0.84% [11][12] 3.3 Future Investment Strategy - **Macro aspect**: The Fed cut interest rates by 25BP, and internal differences increased. It was more optimistic about the US economy and inflation, and started technical balance - sheet expansion. It is expected that interest rate cuts will continue in 2026, and US bond yields will first decline and then rise [12] - **Stock market**: The Chinese stock market is expected to enter a cross - year offensive. It is optimistic about technology, brokerage, and consumption sectors. It is recommended to invest in technology growth, large - financial, and pro - cyclical assets [13][15] - **Bond market**: In 2026, credit risk is expected to be generally controllable. It is recommended to focus on short - to - medium - term credit sinking to explore coupon payments and pay attention to trading opportunities of medium - and long - term bonds [13][14][15] - **Fund investment**: For stock - hybrid funds, allocate in a balanced and growth - oriented style, emphasizing technology growth - style funds and considering large - financial and pro - cyclical assets. For bond funds, focus on flexible - operation fixed - income products. For money market funds, there is no trend investment opportunity. For commodity funds, appropriately allocate gold ETFs [15] 3.4 Fund Market Latest Developments - **Regulatory policy**: The regulatory authorities issued a draft for soliciting opinions on standardizing the sales behavior of public - offering funds, including requirements for fund performance display [16][18] - **Industry development**: The public - offering index - enhancement business has developed rapidly. As of December 10, 168 new index - enhancement funds have been established this year, with a total new - issuance scale exceeding 92 billion yuan [19] - **New product issuance**: 23 new funds were established last week, with an average subscription period of about 13 days and an average raised share of 792 million shares [20] - **Fund dividends**: 84 funds will conduct equity registration in the coming days, and the most notable one is Huashang Advantage Industry A, with a dividend of 2.347 yuan per 10 shares [21]

Group 1 - The global storage industry is experiencing unprecedented supply-demand tension due to surging AI demand and industry capacity adjustments, with a "storage crisis" worsening in recent months [1] - DRAM supply shortages are expected to persist until Q1 2027, with DDR memory demand projected to grow by 20.7%, significantly outpacing supply growth [1][2] - NAND flash shortages are anticipated to last until Q3 2026, leading to the most intense price increase cycle in nearly 30 years, with DDR contract prices expected to rise by 35% and NAND prices by 20% in Q4 this year [2] Group 2 - Major cloud service providers are extending their pre-purchase orders for storage components until 2028, indicating strong actual market demand rather than speculative hoarding [2][3] - Current inventory levels for storage components are critically low, with server DDR memory inventory sufficient for only 11 weeks, DRAM for personal computers and mobile devices for 9 weeks, and SSD inventory for just 8 weeks [2] - SK Hynix is expected to maintain a dominant position in the HBM4 market, holding approximately 70% market share, with target prices for SK Hynix and Samsung Electronics being raised significantly [4]

Core Insights - The global storage industry is facing unprecedented supply-demand tension due to surging AI demand and industry capacity adjustments [4] - UBS forecasts that the DRAM supply shortage will persist until Q1 2027, with DDR memory demand expected to grow by 20.7%, significantly outpacing supply growth [5] - The NAND flash shortage is anticipated to last until Q3 2026, leading to the most intense price increase cycle in nearly 30 years [6] Supply and Demand Dynamics - Major cloud service providers are extending their pre-purchase orders to 2028, indicating strong actual market demand rather than speculative hoarding [7][8] - Current inventory levels are critically low, with server DDR memory inventory sufficient for only 11 weeks, DRAM for personal computers and mobile devices for 9 weeks, and SSD inventory for just 8 weeks [7] Price Trends - UBS predicts a 35% quarter-on-quarter increase in DDR contract pricing and a 20% increase in NAND flash prices in Q4 this year, both exceeding previous expectations [6] - Further price increases are expected in Q1 2026, with DDR contract pricing projected to rise by 30% and NAND prices by 20% [6] Market Positioning - SK Hynix is expected to maintain a dominant position in the HBM4 market, holding approximately 70% market share [10] - UBS has raised target prices for leading storage manufacturers, increasing SK Hynix's target price from 710,000 KRW to 853,000 KRW and Samsung Electronics' target price from 128,000 KRW to 154,000 KRW, maintaining a buy rating for both [10]

Market Overview - The A-share market saw a collective rise in the three major indices, with the ChiNext Index increasing over 3% and the Growth Enterprise Index rising over 5% [1] - The Shanghai Composite Index closed at 3927.19 points, up 0.62%, while the Shenzhen Component Index rose by 1.55% and the ChiNext Index increased by 3.02% [1] Trading Volume and Stock Performance - The trading volume in the Shanghai and Shenzhen markets reached 1.29 trillion yuan, an increase of 297.1 billion yuan compared to the previous trading day [2] - A total of 3549 stocks rose, with 62 hitting the daily limit, while 1692 stocks declined [2] Sector Performance - The technology sector experienced significant gains, particularly in communication equipment, electronic components, computer hardware, and aerospace military industries, with notable increases in CPO, 6G, storage chips, commercial aerospace, and photolithography stocks [2][3] - Conversely, the coal, oil and chemical, and energy equipment sectors faced declines [2][3] Notable Stock Movements - CPO stocks surged, with companies like Zhongji Xuchuang and Xinyi Sheng rising by 8.1% and 9.4% respectively, reaching market capitalizations of 645 billion yuan and 410.5 billion yuan [6][8] - Tianfu Communication recorded a 20% increase, reaching a historical high with a market cap of 185.4 billion yuan [7][8] Commercial Aerospace Sector - The commercial aerospace sector continued to strengthen, with stocks like Tianjian Technology and Aerospace Power hitting the daily limit, while Guanglian Aviation rose over 13% [9] - Recent developments include the launch of the Zhuque-3 rocket, which completed its mission despite a recovery failure, and advancements in reusable rocket technology by Blue Arrow Aerospace [9] Financial Sector Performance - The financial sector, particularly brokerage stocks, saw a significant rise, with firms like Industrial Securities and Ruida Futures hitting the daily limit [10][11] - The China Securities Regulatory Commission announced plans to optimize regulations for quality institutions, which may benefit mid-sized and foreign brokerages [11] Storage Chip Sector - The storage chip sector showed strong performance, with companies like Chengbang Co. and Demingli hitting the daily limit, driven by rising prices of DDR4 memory and SSDs [12][13]

Market Overview - A-shares experienced a significant rally on December 8, with all three major indices rising collectively, the ChiNext Index up over 3%, and the Growth Enterprise Index up over 5% [1] - The Shanghai Composite Index closed at 3927.19 points, up 0.62%, while the Shenzhen Component Index rose by 1.55% and the ChiNext Index increased by 3.02% [1] Trading Volume and Market Sentiment - The trading volume in the Shanghai and Shenzhen markets reached 1.29 trillion yuan, an increase of 297.1 billion yuan compared to the previous trading day [3] - A total of 3549 stocks rose, with 62 hitting the daily limit, while 1692 stocks declined [3] Sector Performance - The technology sector saw substantial gains, particularly in communication equipment, electronic components, computer hardware, and aerospace military industries, with significant increases in stocks related to optical modules (CPO), 6G, storage chips, commercial aerospace, and photolithography machines [3] - Conversely, coal, petrochemical, and energy equipment sectors lagged behind, with notable declines [3] Notable Stock Movements - The CPO concept stocks surged, with Zhongji Xuchuang reaching a new high, up 8.1% to 580.53 yuan per share, with a market cap of 645 billion yuan [6] - Tianfu Communication recorded a 20% limit-up, reaching 238.5 yuan per share, also marking a historical high with a market cap of 185.4 billion yuan [8] - New Yisheng rose by 9.4% to 413 yuan per share, with a market cap of 410.5 billion yuan [7] Commercial Aerospace Sector - The commercial aerospace sector continued to strengthen, with stocks like Tianjian Technology, Aerospace Power, and Aerospace Development hitting the daily limit, while Guanglian Aviation rose over 13% [12] - The recent successful launch of the Zhuque-3 rocket and advancements in reusable rocket technology were highlighted as key developments in this sector [14] Financial Sector Performance - The financial sector, particularly brokerage stocks, saw a strong performance with firms like Industrial Securities and Ruida Futures hitting the daily limit [15] - The China Securities Regulatory Commission indicated plans to enhance the regulatory environment for quality institutions, which may positively impact the financial sector [15] Storage Chip Sector - The storage chip sector showed resilience, with stocks like Chengbang Co. and Demingli hitting the daily limit, and Jiangbolong rising over 10% [17] - Recent reports indicated a significant increase in the prices of storage chips, leading to a "hoarding" phenomenon among traders [17]