CITIC Securities: Optimistic about storage capacity expansion and accelerated technological iteration, vast space for core semiconductor suppliers.

The research report from CITIC Securities indicated that driven by strong demand for AI, CITIC Securities expects storage demand to remain high, and the price increase of storage chips is expected to continue throughout 2026, bringing sustained industry growth. CITIC Securities is optimistic about the expansion of production capacity and accelerated technological iteration of domestic storage giants, leading to a significant increase in the use of semiconductor materials related to wafer manufacturing processes. Core suppliers of materials and components for these giants are expected to benefit greatly, as the pace of downstream capacity deployment achieves a step change in operational data growth.