📰 DigiTimesDigiTimesCodex · 实盘不做把握 5/10
北京时间·🕒 发布 07:35:24时区推断·⟳ 抓取 07:43:35回填·⚡ 决策 07-07 07:46:24·112.4 天前
DigiTimes转述北京君正调研称DRAM代工产能紧张或延续至2027年下半年
事件核心内容来自北京君正7月1日机构调研并已在7月2日晚由公司投资者关系记录表和多家中文财经媒体传播，DigiTimes 7月7日文章不是新的一手催化。
📄 原文DigiTimes↗ 原文
Ingenic says DRAM foundry capacity strain won't ease until 2H27
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不做 北京君正（300223.SZ）
核心利多已由公司7月2日一手披露并被中文财经媒体广泛报道，DigiTimes 7月7日转述缺少新增金额、销量或业绩上修，短线edge不足。
不做 兆易创新（603986.SH）
文章对兆易创新同时包含涨价受益和价格回调风险提示，且相关观点此前已在投资者关系材料中公开，不构成新的同向交易催化。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- 公司在7月1日特定对象调研中披露KGD涨价、DRAM供需紧张、2027年下半年才可能释放产能等核心信息。
- 金融界已报道北京君正DRAM涨价、二季度收入和毛利率继续增长、三季度继续上调价格等内容。
- 证券时报明确以“DRAM代工产能改善窗口预计在2027年下半年”为标题报道，说明核心催化已在A股信息渠道传播。
- DigiTimes英文转述同一调研内容并加入兆易创新风险提示，属于海外行业媒体滞后扩散。市场反应:事件抓取时韩国、A股、港股均未连续成交，无法据此确认新市场反应。
关键理由
- 事件核心内容来自北京君正7月1日机构调研并已在7月2日晚由公司投资者关系记录表和多家中文财经媒体传播，DigiTimes 7月7日文章不是新的一手催化。
- DRAM、NOR、SRAM涨价和产能紧张对北京君正、兆易创新方向偏利多，但这是存储涨价周期的延续性叙事，不是新增订单、业绩上修或超预期公告。
- 量级上，北京君正披露DDR4与LPDDR4一季度已占DRAM收入40%以上、毛利率受涨价支撑，但本条没有新增销量、ASP幅度或全年利润增量，无法把7月7日转述映射成新的短线收益增量。
主要风险
- 若A股开盘后存储板块继续被海外媒体扩散带动，可能有主题性跟涨，但这属于二次传播动量而非低扩散基本面事件。
- 内部KB检索实际调用超时，未能补到付费研报对北京君正和兆易创新最新敞口的进一步量化。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-04-30 · 影响 weakens
兆易创新投资者关系材料提示2027年后利基DRAM价格可能从峰值适当回归，构成周期高位风险提示。
检索:兆易创新 风险提示 存储价格 回调 2026 DRAM NOR 原文 ↗ - 做多前查反向 · 来源 kb_search · 影响 none
内部KB检索实际调用超时，未能补充付费平台反向或增量证据。
检索:北京君正 DRAM 产能 紧张 2027 提价 毛利率 2026
工具调用 · 历史记录,结果未知(2 种)
- normalize_ticker · 结果未知
- kb_search · 结果未知
原文全文
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Ingenic says DRAM foundry capacity strain won't ease until 2H27
Staff reporter, Taipei
Jul 7, 2026, 07:35
0
Credit: Ingenic
China memory makers are diverging in their outlook as AI demand keeps the global memory market tight. After GigaDevice recently issued an unusual risk warning, Beijing-based special memory and embedded processor maker Ingenic said global DRAM foundry capacity remains broadly constrained and is unlikely to improve before the second half of 2027.
GigaDevice warns of a pullback
GigaDevice said the memory industry is highly cyclical and that the current rapid price surge is not normal, warning that major product prices face the risk of a notable correction as supply and demand return to balance. The company said its products are mainly concentrated in NOR flash, SLC NAND, and some DRAM niche memory, with downstream applications spanning industrial control, automotive, networking, and consumer electronics.
Ingenic sees prices staying firm in 1H26
Based on DRAM foundry capacity and supply-demand conditions in the specialty memory market, Ingenic said rising Known Good Die (KGD) prices and tight semiconductor supply-chain capacity are pushing up prices across computing chips, DRAM, NOR flash, and SRAM in the first half 2026, supporting margins at elevated levels.
Ingenic said its chips use dual-DRAM stacked packaging, and continued tight upstream material supply has lifted production costs, prompting the company to raise prices in step. The company said chip gross margin came close to 52% in the first quarter of 2026 and is expected to remain solid in the second quarter, while whether it can hold that level in the third quarter and fourth quarter will depend on upstream cost changes and market supply-demand conditions.
DRAM business extends gains
Ingenic said Chinese DRAM customers began taking price increases in the first quarter of 2026, with overseas customers following in the second quarter, driving continued growth in DRAM revenue and gross margin. The company expects room for another price increase in the third quarter and said a further adjustment in the fourth quarter remains possible if supply stays tight.
On product mix, Ingenic said its 20nm, 18nm, and 16nm DDR4 and LPDDR4 products are already in stable mass production, and revenue from the two product lines accounted for more than 40% of total DRAM revenue in the first quarter of 2026. The company also said industrial-grade memory prices are adjusted less frequently than consumer memory, so pricing trends differ by product.
Capacity remains tight
On the most closely watched issue of capacity, Ingenic said the global DRAM supply chain's foundry capacity is still tight and the supply-demand structure will be difficult to improve in the near term. Because the company expanded upstream inventory early in 2025 and its existing lines are running steadily, current inventory and capacity are enough to secure supply for the next 2 years. The company said a real improvement in capacity is not expected until the second half of 2027 at the earliest.
On upstream foundry costs, Ingenic said different foundries have raised prices by different amounts, but the company can pass part of those costs on to customers, giving gross margin some support.
Besides DRAM, Ingenic said other memory lines are also benefiting. Some customers have switched to SRAM solutions to replace DRAM, helping SRAM prices edge up in the second quarter, while NOR flash prices have risen for 2 straight quarters; although the increase is smaller than for DRAM, supply is also tight.
Ingenic said NOR flash revenue grew sharply in the first quarter of 2026 mainly because shipment volumes increased, not simply because of higher prices. For third quarter pricing, the company said adjustments will be made by product and by customer rather than through a broad-based increase.
Looking further ahead, Ingenic said the supply-demand outlook for conventional DRAM in 2027 remains difficult to predict and that future price trends will still depend on market conditions at the time.
The company also said 3D DRAM-related R&D is progressing steadily, with current work focused on DRAM die design and subsequent product planning to be rolled out step by step according to development progress.
Article
translated by Charlene Chen and edited by Jack Wu
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Ingenic says DRAM foundry capacity strain won't ease until 2H27
Staff reporter, Taipei
Jul 7, 2026, 07:35
0
Credit: Ingenic
China memory makers are diverging in their outlook as AI demand keeps the global memory market tight. After GigaDevice recently issued an unusual risk warning, Beijing-based special memory and embedded processor maker Ingenic said global DRAM foundry capacity remains broadly constrained and is unlikely to improve before the second half of 2027.
GigaDevice warns of a pullback
GigaDevice said the memory industry is highly cyclical and that the current rapid price surge is not normal, warning that major product prices face the risk of a notable correction as supply and demand return to balance. The company said its products are mainly concentrated in NOR flash, SLC NAND, and some DRAM niche memory, with downstream applications spanning industrial control, automotive, networking, and consumer electronics.
Ingenic sees prices staying firm in 1H26
Based on DRAM foundry capacity and supply-demand conditions in the specialty memory market, Ingenic said rising Known Good Die (KGD) prices and tight semiconductor supply-chain capacity are pushing up prices across computing chips, DRAM, NOR flash, and SRAM in the first half 2026, supporting margins at elevated levels.
Ingenic said its chips use dual-DRAM stacked packaging, and continued tight upstream material supply has lifted production costs, prompting the company to raise prices in step. The company said chip gross margin came close to 52% in the first quarter of 2026 and is expected to remain solid in the second quarter, while whether it can hold that level in the third quarter and fourth quarter will depend on upstream cost changes and market supply-demand conditions.
DRAM business extends gains
Ingenic said Chinese DRAM customers began taking price increases in the first quarter of 2026, with overseas customers following in the second quarter, driving continued growth in DRAM revenue and gross margin. The company expects room for another price increase in the third quarter and said a further adjustment in the fourth quarter remains possible if supply stays tight.
On product mix, Ingenic said its 20nm, 18nm, and 16nm DDR4 and LPDDR4 products are already in stable mass production, and revenue from the two product lines accounted for more than 40% of total DRAM revenue in the first quarter of 2026. The company also said industrial-grade memory prices are adjusted less frequently than consumer memory, so pricing trends differ by product.
Capacity remains tight
On the most closely watched issue of capacity, Ingenic said the global DRAM supply chain's foundry capacity is still tight and the supply-demand structure will be difficult to improve in the near term. Because the company expanded upstream inventory early in 2025 and its existing lines are running steadily, current inventory and capacity are enough to secure supply for the next 2 years. The company said a real improvement in capacity is not expected until the second half of 2027 at the earliest.
On upstream foundry costs, Ingenic said different foundries have raised prices by different amounts, but the company can pass part of those costs on to customers, giving gross margin some support.
Besides DRAM, Ingenic said other memory lines are also benefiting. Some customers have switched to SRAM solutions to replace DRAM, helping SRAM prices edge up in the second quarter, while NOR flash prices have risen for 2 straight quarters; although the increase is smaller than for DRAM, supply is also tight.
Ingenic said NOR flash revenue grew sharply in the first quarter of 2026 mainly because shipment volumes increased, not simply because of higher prices. For third quarter pricing, the company said adjustments will be made by product and by customer rather than through a broad-based increase.
Looking further ahead, Ingenic said the supply-demand outlook for conventional DRAM in 2027 remains difficult to predict and that future price trends will still depend on market conditions at the time.
The company also said 3D DRAM-related R&D is progressing steadily, with current work focused on DRAM die design and subsequent product planning to be rolled out step by step according to development progress.
Article
translated by Charlene Chen and edited by Jack Wu
AI Search
Related stories
GigaDevice sees niche DRAM and NAND prices rising through 2026
Adata sees DRAM, NAND prices rise 40% in 2Q26
Winbond's 2027 DRAM capacity pre-sold as memory revenue nears NT$100B in 2025
Categories
Chips + components IC manufacturing Memory chips
Tags
2026 capacity China demand DRAM flash GigaDevice market outlook price revenue
Share this article
Other links
Related topics
Global supply chain: China market
Asia
Regions
BIZ FOCUS
Jun 1, 08:00
LITEON Showcases AI at COMPUTEX Panel Featuring NVIDIA, Infineon, GIGABYTE
Friday 29 May 2026
Datotek Introduces AI PSSD Sustainable Storage Solutions at COMPUTEX 2026
Thursday 28 May 2026
AGI Debuts DDR5 R-DIMM and Smart Industrial Solutions at COMPUTEX 2026
Thursday 28 May 2026
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MediaTek issues official price hike notice, products facing supply constraints likely to increase first
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Samsung Foundry comeback builds as Meta, Anthropic weigh chip deals
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