The prices of storage chips continue to rise, with major institutions quietly positioning themselves in core segments.
Recently, the storage chip market has experienced a strong recovery.According to the latest data from TrendForce, the contract price of DRAM is expected to increase by 15-20% quarter-on-quarter in the third quarter of 2025, while the contract price of NAND Flash is expected to rise by 10-15%, exceeding market expectations.Today, the storage chip sector performed strongly, with several major fund holdings rising over 5%, and the net inflow of funds into the sector exceeding 1 billion yuan. Market analysis suggests that the storage chip industry will enter at least a two-year upward cycle.By reviewing the performance of the third quarter of 2025 and the holdings of institutions, we have selected eight publicly listed companies in the storage chip sector that have shown excellent performance and received significant investments from major institutions.GigaDevice | BeijingSubsector: Leader in NOR Flash storage chip designMain Business: Focused on the R&D and sales of NOR Flash, MCU, and sensor chips, with a global market share of NOR Flash ranking third, covering the entire voltage range of 1.5V-3.3V. The company is also developing its own DRAM business, with its first 19nm DDR3 product already in mass production.2025 Q3 Report: Revenue increased by 92% year-on-year, net profit increased by 86%Notable Partners: Huawei, Xiaomi, BYD, DJIRecent Developments: Automotive-grade storage chips have entered the BYD supply chain, with a 5.64% stake from major funds in the second phaseInnosilicon | ShanghaiSubsector: Leader in memory interface chipsMain Business: A global leader in memory interface chips, with products including memory interface chips and server CPUs, holding over 40% of the global market share in memory interface chips and being a member of the JEDEC standard-setting organization.2025 Q3 Report: Revenue increased by 58% year-on-year, net profit increased by 52%Notable Partners: Intel, Samsung, SK HynixRecent Developments: Bulk shipments of DDR5 memory interface chips, with a 9.53% stake from major funds in the first phase, benefiting from the demand for server memory upgradesNorth Huachuang | BeijingSubsector: Semiconductor equipment platformMain Business: A leading domestic semiconductor equipment company, with products covering etching equipment, thin film equipment, cleaning equipment, etc., providing key equipment for domestic storage chip companies such as Yangtze Memory and Changxin Memory.2025 Q3 Report: Revenue increased by 63% year-on-year, net profit increased by 71%Notable Partners: Yangtze Memory, Changxin Memory, SMICRecent Developments: Won multiple bids for storage chip production line equipment projects, with a total stake of 7.32% from major funds in the first and second phases, and the localization rate of equipment continues to improveSMIC | ShanghaiSubsector: Etching equipment expertMain Business: Focused on the R&D and manufacturing of etching equipment and MOCVD equipment, leading in domestic storage chip etching equipment, with products entering the supply chains of domestic storage chip companies such as Yangtze Memory and Changxin Memory.2025 Q3 Report: Revenue increased by 56% year-on-year, net profit increased by 62%Notable Partners: Yangtze Memory, SMIC, Huahong SemiconductorRecent Developments: Orders for storage chip etching equipment are full, with a 5.82% stake from major funds in the second phase, and technical strength recognized internationallyAnji Technology | ShanghaiSubsector: Semiconductor materials supplierMain Business: Focused on the R&D and production of chemical mechanical polishing slurries, photoresist removers, and other semiconductor materials, widely used in the storage chip manufacturing process, and is a leading domestic semiconductor materials company.2025 Q3 Report: Revenue increased by 49% year-on-year, net profit increased by 45%Notable Partners: SMIC, Yangtze Memory, Huahong SemiconductorRecent Developments: The application of polishing slurry products in the storage chip field has expanded, with a 3.45% stake from major funds in the second phase, and significant potential for domestic substitutionJiangfeng Electronics | Ningbo, ZhejiangSubsector: Target material leaderMain Business: Focused on the R&D and production of ultra-high purity metal targets, evaporation materials, and other semiconductor materials, widely used in the storage chip manufacturing process, and is a leading domestic semiconductor target supplier.2025 Q3 Report: Revenue increased by 42% year-on-year, net profit increased by 68%Notable Partners: TSMC, SMIC, Yangtze MemoryRecent Developments: Sales of target materials in the storage chip field have increased, with a 4.12% stake from major funds in the first phase, and technical strength is internationally leadingChangchuan Technology | Hangzhou, ZhejiangSubsector: Testing equipment expertMain Business: Focused on the R&D and manufacturing of testing machines, sorting machines, and other semiconductor testing equipment, widely used in the storage chip testing process, and is a leading domestic semiconductor testing equipment company.2025 Q3 Report: Revenue increased by 55% year-on-year, net profit increased by 58%Notable Partners: Yangtze Memory, Changxin Memory, SMICRecent Developments: Demand for storage chip testing equipment is growing, with a 5.21% stake from major funds in the first phase, and the localization process is acceleratingYake Technology | Yixing, JiangsuSubsector: Electronic materials supplierMain Business: Focused on the R&D and production of semiconductor packaging materials, precursor materials, and other electronic materials, widely used in the storage chip packaging process, and is a leading domestic electronic materials company.2025 Q3 Report: Revenue increased by 38% year-on-year, net profit increased by 61%Notable Partners: Samsung, SK Hynix, Yangtze MemoryRecent Developments: The application of precursor materials in the storage chip field has expanded, with a 2.78% stake from major funds in the second phase, and technical strength recognized internationallyEspecially for those leading enterprises that have received significant investments from major funds and have competitive advantages in their subsectors, the certainty of growth is stronger.