Many Friends Recently Wonder If the Storage Market Rally Can Last – Let's Discuss the Underlying Logic Beyond Short-Term Fluctuations

English summary

The current AI wave is not a short-term trend. Major computing power bases continue to expand, driving sustained growth in server demand for storage drives and memory. Overseas memory giants are prioritizing high-end HBM storage. The industry has officially emerged from the cyclical trough dominated by consumer electronics, ushering in a long-term boom for the storage sector. Domestic substitution is the second major theme. The dividends of domestic substitution are materializing: YMTC and CXMT continue to expand production, domestic memory wafer supply is steadily increasing, and the trend of supply chain self-sufficiency is irreversible. Upstream wafer fabs are continuously expanding, driving the entire storage industry chain. Localization of upstream materials and equipment is accelerating, domestic module suppliers are diversifying procurement channels, and cost expectations are improving. Longsys (江波龙) sits at the core of storage module manufacturing, benefiting from both upstream domestic wafer supply growth and downstream AI computing power and enterprise storage order expansion.…