Shannon Semi(SZ:300475)2023-07-17 09:14Group 1: Company Overview - Shannon Chip Creation currently derives approximately 95% of its revenue from electronic component distribution, with 70% from DRAM and 30% from NAND and SSD products [2] - The company ranks fourth in China and twenty-second globally in electronic component distribution revenue, with an annual revenue of 13.772 billion CNY [3] Group 2: Market Position and Strategy - The company has a reasonable inventory level, which has increased compared to Q1 2023 but has not reached historical highs [3] - Shannon Chip Creation is one of six major distributors for SK Hynix in mainland China, focusing on server-grade storage products for large internet companies [3] Group 3: Future Plans and Developments - The establishment of Haipu Storage aims to tap into the growing enterprise SSD market, projected to reach 50 billion CNY by 2025 [3] - Haipu Storage plans to begin small-scale production by the end of this year or early next year, targeting several billion CNY in revenue within a few years [3] Group 4: Product and Technology - Haipu Storage's enterprise SSD products will utilize SK Hynix NAND chips and DaPu Micro's main control chips, with ongoing testing to ensure performance advantages [3] - The potential customer base for enterprise SSDs includes clients in the information technology and telecommunications sectors, with a focus on domestic main control chips [3] Group 5: Market Dynamics - The shift from direct supply from manufacturers to procurement through distributors has become prevalent, allowing for better technical support and reduced procurement costs for customers [4] - The company holds HBM product agency qualifications and plans to continue sales based on downstream customer demand [4]