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<title>SRAM存储 | 深度行业研究</title>
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<header class="sticky top-0 z-50 glass-card mx-4 my-4">
<div class="container mx-auto navbar px-4">
<div class="navbar-start">
<a class="text-xl font-bold bg-gradient-to-r from-cyan-300 to-purple-400 text-transparent bg-clip-text" href="#">SRAM存储 | 深度研报</a>
</div>
<div class="navbar-center hidden lg:flex">
<ul class="menu menu-horizontal px-1">
<li><a href="#genesis" class="nav-link" :class="{ 'active': currentSection === 'genesis' }">概念起源</a></li>
<li><a href="#logic" class="nav-link" :class="{ 'active': currentSection === 'logic' }">核心逻辑</a></li>
<li><a href="#data" class="nav-link" :class="{ 'active': currentSection === 'data' }">数据洞察</a></li>
<li><a href="#chain" class="nav-link" :class="{ 'active': currentSection === 'chain' }">产业链</a></li>
<li><a href="#stocks" class="nav-link" :class="{ 'active': currentSection === 'stocks' }">相关标的</a></li>
</ul>
</div>
<div class="navbar-end">
<span class="text-xs text-gray-400">价小前投研</span>
</div>
</div>
</header>
<main class="container mx-auto px-4 py-8">
<!-- Section: Genesis -->
<section id="genesis" class="mb-16 scroll-mt-20">
<div class="glass-card p-8 md:p-12 text-center glow-border">
<h1 class="text-4xl md:text-6xl font-bold mb-4 bg-gradient-to-r from-white via-cyan-300 to-purple-400 text-transparent bg-clip-text">SRAM: AI算力的“光速”引擎</h1>
<p class="text-lg md:text-xl text-gray-300 max-w-4xl mx-auto mb-6">源于Groq LPU的架构颠覆SRAM从幕后走向台前以极致速度挑战“存储墙”瓶颈开启后HBM时代的性能想象。</p>
<div class="stats stats-vertical lg:stats-horizontal shadow bg-black/30 border border-white/10">
<div class="stat">
<div class="stat-title text-cyan-400">Groq LPU 推理速度</div>
<div class="stat-value text-3xl">500 token/s</div>
<div class="stat-desc">远超主流GPU方案</div>
</div>
<div class="stat">
<div class="stat-title text-purple-400">核心架构</div>
<div class="stat-value text-3xl">~230MB 片上SRAM</div>
<div class="stat-desc">摒弃外部HBM实现近存计算</div>
</div>
<div class="stat">
<div class="stat-title text-gray-400">市场信号</div>
<div class="stat-value text-3xl">"下一个HBM"</div>
<div class="stat-desc">2024年2月概念引爆</div>
</div>
</div>
</div>
</section>
<!-- Section: Core Logic -->
<section id="logic" class="mb-16 scroll-mt-20">
<div class="glass-card p-8 md:p-12">
<h2 class="text-3xl font-bold mb-8 text-center">概念核心逻辑与市场认知</h2>
<div class="space-y-12">
<!-- Core Viewpoint -->
<div>
<h3 class="text-2xl font-semibold mb-4 border-l-4 border-cyan-400 pl-4">核心观点摘要</h3>
<p class="text-gray-300 leading-relaxed">SRAM概念本质上是一次由 <strong class="text-cyan-300">下游AI芯片架构创新 (Groq LPU) 倒逼上游存储技术价值重估</strong> 的事件驱动型行情。其核心驱动力在于SRAM的 <strong class="text-purple-300">极致速度</strong> 完美契合AI推理等低延迟场景但其 <strong class="text-red-400">高昂成本和低集成度</strong> 构成了其商业化大规模应用的“阿喀琉斯之踵”。当前概念处于从主题炒作向产业验证过渡的早期阶段,未来潜力取决于能否在成本与性能之间找到平衡点。</p>
</div>
<!-- Core Driver -->
<div>
<h3 class="text-2xl font-semibold mb-4 border-l-4 border-cyan-400 pl-4">核心驱动力:架构创新优于制程迭代</h3>
<ul class="list-disc list-inside space-y-3 text-gray-300">
<li><strong>技术逻辑:</strong> SRAM作为片上缓存访问速度在纳秒级别 (1-20ns)远快于外部HBM/DRAM。Groq证明通过集成足够大的SRAM可从物理上消除“存储墙”实现极致低延迟。</li>
<li><strong>应用逻辑:</strong> 架构特别适用于对实时响应要求苛刻的场景如自动驾驶、高频交易、实时翻译等。AI应用演进催生了对SRAM这种“旧技术”的新需求。</li>
<li><strong>产业逻辑:</strong> 在HBM产能被巨头垄断背景下SRAM为AI芯片设计提供了差异化竞争路径对初创公司具有战略意义。</li>
</ul>
</div>
<!-- Expectation Gap -->
<div>
<h3 class="text-2xl font-semibold mb-4 border-l-4 border-cyan-400 pl-4">预期差分析:“广阔叙事”与“骨感现实”</h3>
<div class="alert bg-yellow-900/50 border-yellow-500/50 text-yellow-200">
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<div>
<h3 class="font-bold">核心预期差警示</h3>
<div class="text-xs">市场热情与产业现实存在显著温差。例如,市场视 <strong class="text-white">北京君正</strong> 为核心龙头但公司路演反馈其SRAM业务 <strong class="text-white">占比最小</strong>且对AI规模应用 <strong class="text-white">持谨慎观察态度</strong>,直言“价格高,规模应用存疑”。</div>
</div>
</div>
<ul class="list-disc list-inside space-y-3 mt-4 text-gray-300">
<li><strong>“替代HBM” vs. 场景局限:</strong> SRAM追求低延迟推理HBM追求大带宽训练应用场景不同。SRAM容量受限单芯240MB难以独立支持大模型通用性受限。</li>
<li><strong>存算一体愿景 vs. 商业化进程:</strong> 恒烁股份等布局SRAM存算一体被视为终极方案之一但仍处研发早期商业化时间和成本控制是未知数。</li>
</ul>
</div>
<!-- Risks and Challenges -->
<div>
<h3 class="text-2xl font-semibold mb-4 border-l-4 border-red-400 pl-4">潜在风险与挑战</h3>
<div class="grid md:grid-cols-2 gap-6">
<div class="p-4 bg-black/20 rounded-xl border border-white/10">
<h4 class="font-semibold text-lg text-red-300">技术风险</h4>
<p class="text-sm text-gray-400"><strong>成本与密度瓶颈:</strong> 6T晶体管结构导致成本高、面积大7nm后成本优势减弱。MRAM/ReRAM等新型存储技术构成潜在替代竞争。</p>
</div>
<div class="p-4 bg-black/20 rounded-xl border border-white/10">
<h4 class="font-semibold text-lg text-red-300">商业化风险</h4>
<p class="text-sm text-gray-400"><strong>应用场景狭窄:</strong> Groq模式的高昂集群成本可能限制其市场天花板。英伟达CUDA生态护城河深新架构的生态建设是巨大挑战。</p>
</div>
</div>
</div>
</div>
</div>
</section>
<!-- Section: Data Dive -->
<section id="data" class="mb-16 scroll-mt-20">
<h2 class="text-3xl font-bold mb-8 text-center">多维数据洞察</h2>
<div class="grid grid-cols-1 lg:grid-cols-3 gap-6">
<!-- Data Card: News -->
<div class="glass-card p-6 col-span-1 lg:col-span-1 space-y-4">
<h3 class="text-xl font-semibold">新闻速览:概念引爆点</h3>
<p class="text-sm text-gray-400">“比GPT-4快18倍...Grog的LPU使用的是SRAM其速度比GPU所用的存储器快约20倍。”</p>
<div class="divider"></div>
<p class="text-sm text-gray-400">“【2024.2.5】午后存储芯片概念异动拉升SRAM方向领涨西测测试、大为股份涨停...”</p>
<div class="divider"></div>
<p class="text-sm text-gray-400">“一个芯片里面sram是做不了太大的...炒这个就过分。” —— 市场存在理性质疑声音。</p>
</div>
<!-- Data Card: Chart -->
<div class="glass-card p-6 col-span-1 lg:col-span-2 row-span-2 glow-border">
<h3 class="text-xl font-semibold mb-2">核心存储技术对比</h3>
<div id="tech-comparison-chart" class="w-full h-[450px]"></div>
</div>
<!-- Data Card: Roadshow -->
<div class="glass-card p-6 col-span-1 lg:col-span-1 space-y-4">
<h3 class="text-xl font-semibold">路演纪要:产业声音</h3>
<p class="text-sm text-gray-400"><strong>北京君正 (2024.3.13):</strong> “SRAM全球利基市场第一但AI应用需观察成本及需求当前SRAM价格高规模应用存疑。”</p>
<div class="divider"></div>
<p class="text-sm text-gray-400"><strong>恒烁股份 (2024.7.3):</strong> 提及基于SRAM的数字存算方案但出现将SRAM误述为“非易失性”的关键错误反映信息传递准确性风险。</p>
</div>
<!-- Data Card: Research Report -->
<div class="glass-card p-6 col-span-1 lg:col-span-3">
<h3 class="text-xl font-semibold">研报精粹:技术与市场</h3>
<div class="grid md:grid-cols-3 gap-6 mt-4">
<div>
<h4 class="font-semibold text-cyan-300">技术特性</h4>
<p class="text-sm text-gray-400"><strong>原理:</strong> 6晶体管触发器静态存储非破坏性读取。<br><strong>优势:</strong> 速度快(1-20ns)、可靠性高。<br><strong>劣势:</strong> 成本高、集成度低。</p>
</div>
<div>
<h4 class="font-semibold text-purple-300">AI时代机遇 (以Groq为例)</h4>
<p class="text-sm text-gray-400"><strong>内存带宽:</strong> 80TB/s。<br><strong>架构优势:</strong> "近存计算"减少数据搬运,提高能效比,简化设计。<br><strong>适用场景:</strong> 低延迟、高可靠、边缘计算。</p>
</div>
<div>
<h4 class="font-semibold text-gray-300">未来趋势</h4>
<p class="text-sm text-gray-400">制程微缩、3D集成、eSRAM嵌入式应用、引入ECC增强可靠性。</p>
</div>
</div>
</div>
</div>
</section>
<!-- Section: Industry Chain -->
<section id="chain" class="mb-16 scroll-mt-20">
<div class="glass-card p-8 md:p-12">
<h2 class="text-3xl font-bold mb-8 text-center">产业链图谱与核心玩家</h2>
<!-- Chain Diagram -->
<div class="flex flex-col md:flex-row justify-between items-center text-center space-y-4 md:space-y-0 md:space-x-4 mb-12">
<div class="p-4 rounded-lg bg-black/30 border border-cyan-500/50 w-full md:w-1/3">
<h4 class="font-bold text-lg text-cyan-300">上游</h4>
<p class="text-sm text-gray-400">设计/IP授权 & EDA工具</p>
</div>
<div class="text-cyan-400 text-2xl font-mono">&gt;&gt;</div>
<div class="p-4 rounded-lg bg-black/30 border border-purple-500/50 w-full md:w-1/3 glow-border">
<h4 class="font-bold text-lg text-purple-300">中游</h4>
<p class="text-sm text-gray-400">SRAM芯片设计/销售<br>SRAM存算一体研发<br>分销代理</p>
</div>
<div class="text-purple-400 text-2xl font-mono">&gt;&gt;</div>
<div class="p-4 rounded-lg bg-black/30 border border-gray-500/50 w-full md:w-1/3">
<h4 class="font-bold text-lg text-gray-300">下游</h4>
<p class="text-sm text-gray-400">测试、封装与应用</p>
</div>
</div>
<!-- Core Players -->
<div class="space-y-8">
<h3 class="text-2xl font-semibold mb-4 text-center">核心玩家对比</h3>
<div class="grid md:grid-cols-2 lg:grid-cols-4 gap-6">
<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
<h4 class="text-xl font-bold">北京君正</h4>
<p class="text-sm text-cyan-400 mb-2">逻辑最纯粹的“谨慎龙头”</p>
<p class="text-sm text-gray-400"><strong>优势:</strong> 全球利基SRAM市场龙头。<strong>风险:</strong> 公司对AI应用前景态度谨慎SRAM业务收入占比较小存在预期差。</p>
</div>
<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
<h4 class="text-xl font-bold">恒烁/炬芯</h4>
<p class="text-sm text-purple-400 mb-2">“未来叙事”的追赶者</p>
<p class="text-sm text-gray-400"><strong>优势:</strong> 布局SRAM存算一体前沿技术路线。<strong>风险:</strong> 仍处研发阶段,商业化不确定性高,技术风险大。</p>
</div>
<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
<h4 class="text-xl font-bold">兆易创新</h4>
<p class="text-sm text-gray-400 mb-2">历史渊源的“多元巨头”</p>
<p class="text-sm text-gray-400"><strong>关联:</strong> 以SRAM起家有技术底蕴。<strong>现状:</strong> 业务重心已转向NOR Flash和MCUSRAM占比较低逻辑纯粹性弱。</p>
</div>
<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
<h4 class="text-xl font-bold">西测/广立微</h4>
<p class="text-sm text-green-400 mb-2">“卖水人”的稳健选择</p>
<p class="text-sm text-gray-400"><strong>优势:</strong> 产业链下游测试环节受益于SRAM整体市场扩大。<strong>关联:</strong> 明确具备SRAM芯片测试能力。</p>
</div>
</div>
</div>
</div>
</section>
<!-- Section: Stocks -->
<section id="stocks" class="scroll-mt-20">
<div class="glass-card p-8 md:p-12">
<h2 class="text-3xl font-bold mb-2 text-center">综合结论与相关标的</h2>
<p class="text-center text-gray-400 mb-8">SRAM概念处于事件驱动的主题阶段商业化路径待验证。投资需关注成本、商业落地、公司业绩和技术进展四大关键指标。</p>
<div class="tabs tabs-boxed justify-center mb-6 bg-black/30">
<a class="tab tab-active">SRAM概念股全景</a>
</div>
<div class="overflow-x-auto">
<table class="table table-zebra w-full">
<thead class="text-base text-cyan-300">
<tr>
<th>股票名称</th>
<th>股票代码</th>
<th>核心关联逻辑</th>
</tr>
</thead>
<tbody>
<tr><td>北京君正</td><td><a href="https://valuefrontier.cn/company?scode=300223" target="_blank" class="link link-hover">300223</a></td><td>通过子公司北京矽成是全球重要的SRAM供应商之一利基市场龙头。</td></tr>
<tr><td>西测测试</td><td><a href="https://valuefrontier.cn/company?scode=301306" target="_blank" class="link link-hover">301306</a></td><td>公司电子元器件检测业务可实现对SRAM等存储芯片功能的自动测试。</td></tr>
<tr><td>恒烁股份</td><td><a href="https://valuefrontier.cn/company?scode=688416" target="_blank" class="link link-hover">688416</a></td><td>明确布局基于SRAM的数字存算一体技术方案。</td></tr>
<tr><td>炬芯科技</td><td><a href="https://valuefrontier.cn/company?scode=688049" target="_blank" class="link link-hover">688049</a></td><td>公司存算一体技术基于SRAM路线进行研发。</td></tr>
<tr><td>兆易创新</td><td><a href="https://valuefrontier.cn/company?scode=603986" target="_blank" class="link link-hover">603986</a></td><td>公司以SRAM产品起家具备深厚的技术积累现为存储平台型龙头。</td></tr>
<tr><td>广立微</td><td><a href="https://valuefrontier.cn/company?scode=301095" target="_blank" class="link link-hover">301095</a></td><td>公司高性能半导体参数测试设备可覆盖SRAM等产品的测试需求。</td></tr>
<tr><td>中电港</td><td><a href="https://valuefrontier.cn/company?scode=001287" target="_blank" class="link link-hover">001287</a></td><td>公司的分销业务中存储器产品线包含SRAM、DRAM等。</td></tr>
<tr><td>光力科技</td><td><a href="https://valuefrontier.cn/company?scode=300480" target="_blank" class="link link-hover">300480</a></td><td>业务涉及半导体SRAM存储芯片领域。</td></tr>
<tr><td>纳思达</td><td><a href="https://valuefrontier.cn/company?scode=002180" target="_blank" class="link link-hover">002180</a></td><td>公司拥有大容量Flash、SRAM系列产品线。</td></tr>
<tr><td>航宇微</td><td><a href="https://valuefrontier.cn/company?scode=300053" target="_blank" class="link link-hover">300053</a></td><td>公司高可靠数据存储器产品主要包括SRAM系列产品。</td></tr>
<tr><td>航天智装</td><td><a href="https://valuefrontier.cn/company?scode=300455" target="_blank" class="link link-hover">300455</a></td><td>子公司轩宇空间开发了SRAM、SOC2012等存储芯片产品。</td></tr>
<tr><td>光韵达</td><td><a href="https://valuefrontier.cn/company?scode=300227" target="_blank" class="link link-hover">300227</a></td><td>子公司涉及eSRAM-SDM相关研发。</td></tr>
<tr><td>华岭股份</td><td><a href="https://valuefrontier.cn/company?scode=920139" target="_blank" class="link link-hover">920139</a></td><td>拥有SRAM型FPGA测试软件相关技术。</td></tr>
<tr><td>C华微</td><td>N/A</td><td>自研千万门级SRAM型FPGA器件。</td></tr>
<tr><td>思科瑞</td><td>N/A</td><td>拥有一种随机静态存储芯片SRAM功能测试装置的发明专利。</td></tr>
</tbody>
</table>
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