Prices have surged over 50%, with a dramatic increase in HBM demand, presenting a new wave of development opportunities for domestic storage chip companies.
The global storage chip market is experiencing a strong uptrend. According to the latest data, storage chip prices have increased by as much as 50%, with Micron Technology reporting a 46% year-on-year revenue increase to $11.32 billion in the fourth quarter.
This wave of growth is primarily driven by the demand for AI computing, with HBM (High Bandwidth Memory) emerging as the most prominent sub-market.
In this context, Chinese storage chip companies are accelerating technological breakthroughs and global expansion. This article will outline key publicly listed companies in the storage chip industry chain to help you seize this industry dividend.
01 Storage Chip Design: Technological Breakthroughs Drive Value Enhancement
The storage chip design phase has high technical barriers and significant profit margins, making it a high-value area in the industry chain.
GigaDevice holds over a 30% share of the global NOR Flash market, with automotive-grade products certified by AEC-Q100. In the first half of 2025, the company’s net profit reached 575 million yuan, a year-on-year increase of 11.31%, with a gross margin stable above 40%.
Eastchip focuses on NAND Flash design, with its SLC NAND products capable of over 100,000 write cycles, widely used in industrial control and automotive electronics. The company’s gross margin remains stable between 35% and 38%, with technology covering 38nm/24nm processes.
Demingli has achieved breakthroughs with its self-developed PCIe Gen5 controller chip, matching the performance of international mainstream products. The mid-2025 report shows the company’s return on equity reaching 26.83%, with solid-state drive products accounting for 48% of revenue.
02 Storage Module Manufacturing: Global Layout and Brand Effect
Storage module manufacturing companies occupy an important position in the industry chain through technological integration and brand building.
Jiangbolong reported revenue of 10.196 billion yuan in the first half of 2025, a year-on-year increase of 12.80%. The company has formed a “self-developed controller + high-end packaging and testing + global manufacturing” integrated capability, with over 80 million self-developed controller chips deployed.
Its Lexar brand is the second-largest consumer storage brand globally, with revenue growth of 31.61% year-on-year in the first half of the year.
Biwei Storage recently announced plans to issue H shares and list on the main board of the Hong Kong Stock Exchange. In the second quarter of 2025, as storage prices stabilized and rebounded, the company’s sales gross margin increased by 11.7 percentage points, with the sales gross margin in June alone rebounding to 18.61%.
The company raised approximately 1.871 billion yuan through a targeted issuance to fund the expansion of its advanced packaging and storage manufacturing base in Huizhou.
Longke Technology, one of the earliest companies involved in flash memory applications and mobile storage, holds multiple original foundational invention patents. Despite facing performance pressure in 2024, it remains a highly regarded stock in the storage chip sector.
03 Storage Packaging and Testing: Opportunities in the Industry Chain
Storage packaging and testing, along with materials, benefit from the trend of domestic substitution, with continuous technological breakthroughs emerging.
Tongfu Microelectronics leads in storage packaging and testing technology, with today’s stock price hitting the upper limit. The company’s HBM chip stacking technology has achieved a yield rate of over 99%, serving top manufacturers such as Samsung and Yangtze Memory Technologies.
Shenzhen Technology focuses on storage chip packaging and testing, with its embedded storage chip packaging technology covering mobile phones and PCs. The mid-2025 report shows the company’s return on equity at 10.5%, with packaging substrate business revenue increasing by 30% year-on-year.
Jiangfeng Electronics is a leading enterprise in the semiconductor materials field, ranking among the top three in target material market share. The company’s HBM-specific ultra-high-purity titanium target has been certified by Micron, with semiconductor material revenue growing over 50% for six consecutive quarters.
04 HBM and Advanced Storage: Core Support for AI Computing
HBM is a critical component of AI servers, with explosive market demand.
Shannon Chip focuses on the enterprise SSD market, with its products applied in AI servers. The mid-2025 report shows the company’s return on equity at 9.65%, with stock prices rising 15.78% over the past seven trading days.
Jingzhida, as a supplier of semiconductor testing equipment, provides wafer bonding equipment used in HBM and 3D NAND manufacturing, achieving a precision of ±1.5μm, filling a domestic gap. The company’s equipment business gross margin exceeds 45%, with technical parameters leading domestically.
According to Yole’s forecast, the global HBM market size is expected to quintuple in six years, exceeding $98 billion by 2030. This growth trend presents significant development space for related enterprises.
As the demand for AI computing continues to surge, the storage chip market is expected to maintain a high level of prosperity. Domestic companies are accelerating technological research and capacity expansion, with Yangtze Memory Technologies‘ parent company Changchun Group recently completing a share reform, marking a new phase in high-end domestic storage chip manufacturing.
In the coming years, who can stand out in this storage chip race will depend on the speed of technological breakthroughs, capacity expansion capabilities, and market share competition.
Disclaimer: The information in this article is based on publicly available data and personal trading insights, for reference only.All content represents personal opinions and does not constitute investment advice; please make prudent decisions.
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