江波龙(301308) - 2025年3月25日投资者关系活动记录表

Group 1: Company Growth Potential - The company sees significant growth opportunities in high-end storage markets, despite challenges in the mid-to-low end market due to homogenized competition [2] - The company has launched three self-developed main control chips for eMMC, SD cards, and automotive-grade USB products, with cumulative applications exceeding 30 million units [3] - The UFS 4.1 products, equipped with self-developed main control chips, have achieved sequential read/write speeds of 4350MB/s and 4200MB/s, and random read/write speeds of 630K IOPS and 750K IOPS, outperforming mainstream market products [3] Group 2: Innovation and Market Strategy - The company is actively promoting innovative business models such as TCM (Technology Contract Manufacturing) and PTM (Product Technology Manufacturing) to leverage its technological and manufacturing advantages [3] - The acquisition of a stake in Brazilian storage manufacturer Zilia enhances the company's overseas market expansion, utilizing Zilia's resources and capabilities to penetrate the global market [4] - The company has established a research and development team of over 1,000 personnel, focusing on storage chip design, main control chip design, and firmware algorithm development [5] Group 3: Product Development and Market Trends - The company’s UFS products are being widely adopted by major clients in the smart terminal market, indicating a strong market position [5] - The transition from eMMC to UFS is expected to continue, driven by the increasing demand for diverse and customized storage solutions in smart devices [6] - The company is positioned to benefit from the growing demand for high-performance computing and storage hardware, particularly in AI applications [9] Group 4: Financial Outlook and Cash Flow Management - The company anticipates a gradual improvement in supply-demand dynamics, leading to a price recovery trend in the storage industry by 2025 [9] - Measures to improve cash flow include optimizing payment terms with suppliers and employing various financial strategies to stabilize liquidity [10] - The self-developed main control chips are expected to see significant growth in shipment volume in 2025, contributing to the company's revenue [10]