437 lines
28 KiB
HTML
437 lines
28 KiB
HTML
<!DOCTYPE html>
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<title>SRAM存储 | 深度行业研究</title>
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</head>
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<body class="bg-black relative" x-data="{ currentSection: 'genesis' }"
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@scroll.window="
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const sections = document.querySelectorAll('section');
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<div class="turrell-light-1"></div>
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<div class="turrell-light-2"></div>
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<header class="sticky top-0 z-50 glass-card mx-4 my-4">
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<div class="container mx-auto navbar px-4">
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<div class="navbar-start">
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<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>
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</div>
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<div class="navbar-center hidden lg:flex">
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<ul class="menu menu-horizontal px-1">
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<li><a href="#genesis" class="nav-link" :class="{ 'active': currentSection === 'genesis' }">概念起源</a></li>
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<li><a href="#logic" class="nav-link" :class="{ 'active': currentSection === 'logic' }">核心逻辑</a></li>
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<li><a href="#data" class="nav-link" :class="{ 'active': currentSection === 'data' }">数据洞察</a></li>
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<li><a href="#chain" class="nav-link" :class="{ 'active': currentSection === 'chain' }">产业链</a></li>
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<li><a href="#stocks" class="nav-link" :class="{ 'active': currentSection === 'stocks' }">相关标的</a></li>
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</ul>
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</div>
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<div class="navbar-end">
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<span class="text-xs text-gray-400">价小前投研</span>
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</div>
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</div>
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</header>
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<main class="container mx-auto px-4 py-8">
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<!-- Section: Genesis -->
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<section id="genesis" class="mb-16 scroll-mt-20">
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<div class="glass-card p-8 md:p-12 text-center glow-border">
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<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>
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<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>
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<div class="stats stats-vertical lg:stats-horizontal shadow bg-black/30 border border-white/10">
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<div class="stat">
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<div class="stat-title text-cyan-400">Groq LPU 推理速度</div>
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<div class="stat-value text-3xl">500 token/s</div>
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<div class="stat-desc">远超主流GPU方案</div>
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</div>
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<div class="stat">
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<div class="stat-title text-purple-400">核心架构</div>
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<div class="stat-value text-3xl">~230MB 片上SRAM</div>
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<div class="stat-desc">摒弃外部HBM,实现近存计算</div>
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</div>
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<div class="stat">
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<div class="stat-title text-gray-400">市场信号</div>
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<div class="stat-value text-3xl">"下一个HBM"</div>
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<div class="stat-desc">2024年2月概念引爆</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Section: Core Logic -->
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<section id="logic" class="mb-16 scroll-mt-20">
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<div class="glass-card p-8 md:p-12">
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<h2 class="text-3xl font-bold mb-8 text-center">概念核心逻辑与市场认知</h2>
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<div class="space-y-12">
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<!-- Core Viewpoint -->
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<div>
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<h3 class="text-2xl font-semibold mb-4 border-l-4 border-cyan-400 pl-4">核心观点摘要</h3>
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<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>
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</div>
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<!-- Core Driver -->
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<div>
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<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>
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<ul class="list-disc list-inside space-y-3 text-gray-300">
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<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>
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<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>
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<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>
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</ul>
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</div>
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<!-- Expectation Gap -->
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<div>
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<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>
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<div class="alert bg-yellow-900/50 border-yellow-500/50 text-yellow-200">
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<svg xmlns="http://www.w3.org/2000/svg" class="stroke-current shrink-0 h-6 w-6" fill="none" viewBox="0 0 24 24"><path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 9v2m0 4h.01m-6.938 4h13.856c1.54 0 2.502-1.667 1.732-3L13.732 4c-.77-1.333-2.694-1.333-3.464 0L3.34 16c-.77 1.333.192 3 1.732 3z" /></svg>
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<div>
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<h3 class="font-bold">核心预期差警示</h3>
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<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>
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</div>
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</div>
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<ul class="list-disc list-inside space-y-3 mt-4 text-gray-300">
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<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>
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<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>
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</ul>
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</div>
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<!-- Risks and Challenges -->
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<div>
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<h3 class="text-2xl font-semibold mb-4 border-l-4 border-red-400 pl-4">潜在风险与挑战</h3>
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<div class="grid md:grid-cols-2 gap-6">
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<div class="p-4 bg-black/20 rounded-xl border border-white/10">
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<h4 class="font-semibold text-lg text-red-300">技术风险</h4>
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<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>
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</div>
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<div class="p-4 bg-black/20 rounded-xl border border-white/10">
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<h4 class="font-semibold text-lg text-red-300">商业化风险</h4>
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<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>
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</div>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Section: Data Dive -->
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<section id="data" class="mb-16 scroll-mt-20">
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<h2 class="text-3xl font-bold mb-8 text-center">多维数据洞察</h2>
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<div class="grid grid-cols-1 lg:grid-cols-3 gap-6">
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<!-- Data Card: News -->
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<div class="glass-card p-6 col-span-1 lg:col-span-1 space-y-4">
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<h3 class="text-xl font-semibold">新闻速览:概念引爆点</h3>
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<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>
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<div class="divider"></div>
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<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>
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<div class="divider"></div>
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<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>
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</div>
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<!-- Data Card: Chart -->
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<div class="glass-card p-6 col-span-1 lg:col-span-2 row-span-2 glow-border">
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<h3 class="text-xl font-semibold mb-2">核心存储技术对比</h3>
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<div id="tech-comparison-chart" class="w-full h-[450px]"></div>
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</div>
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<!-- Data Card: Roadshow -->
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<div class="glass-card p-6 col-span-1 lg:col-span-1 space-y-4">
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<h3 class="text-xl font-semibold">路演纪要:产业声音</h3>
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<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>
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<div class="divider"></div>
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<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>
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</div>
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<!-- Data Card: Research Report -->
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<div class="glass-card p-6 col-span-1 lg:col-span-3">
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<h3 class="text-xl font-semibold">研报精粹:技术与市场</h3>
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<div class="grid md:grid-cols-3 gap-6 mt-4">
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<div>
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<h4 class="font-semibold text-cyan-300">技术特性</h4>
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<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>
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</div>
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<div>
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<h4 class="font-semibold text-purple-300">AI时代机遇 (以Groq为例)</h4>
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<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>
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</div>
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<div>
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<h4 class="font-semibold text-gray-300">未来趋势</h4>
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<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>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Section: Industry Chain -->
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<section id="chain" class="mb-16 scroll-mt-20">
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<div class="glass-card p-8 md:p-12">
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<h2 class="text-3xl font-bold mb-8 text-center">产业链图谱与核心玩家</h2>
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<!-- Chain Diagram -->
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<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">
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<div class="p-4 rounded-lg bg-black/30 border border-cyan-500/50 w-full md:w-1/3">
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<h4 class="font-bold text-lg text-cyan-300">上游</h4>
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<p class="text-sm text-gray-400">设计/IP授权 & EDA工具</p>
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</div>
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<div class="text-cyan-400 text-2xl font-mono">>></div>
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<div class="p-4 rounded-lg bg-black/30 border border-purple-500/50 w-full md:w-1/3 glow-border">
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<h4 class="font-bold text-lg text-purple-300">中游</h4>
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<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>
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</div>
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<div class="text-purple-400 text-2xl font-mono">>></div>
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<div class="p-4 rounded-lg bg-black/30 border border-gray-500/50 w-full md:w-1/3">
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<h4 class="font-bold text-lg text-gray-300">下游</h4>
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<p class="text-sm text-gray-400">测试、封装与应用</p>
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</div>
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</div>
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<!-- Core Players -->
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<div class="space-y-8">
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<h3 class="text-2xl font-semibold mb-4 text-center">核心玩家对比</h3>
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<div class="grid md:grid-cols-2 lg:grid-cols-4 gap-6">
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<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
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<h4 class="text-xl font-bold">北京君正</h4>
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<p class="text-sm text-cyan-400 mb-2">逻辑最纯粹的“谨慎龙头”</p>
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<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>
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</div>
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<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
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<h4 class="text-xl font-bold">恒烁/炬芯</h4>
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<p class="text-sm text-purple-400 mb-2">“未来叙事”的追赶者</p>
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<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>
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</div>
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<div class="p-6 bg-black/30 rounded-2xl border border-white/10">
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<h4 class="text-xl font-bold">兆易创新</h4>
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<p class="text-sm text-gray-400 mb-2">历史渊源的“多元巨头”</p>
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<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MCU,SRAM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>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
</main>
|
||
|
||
<footer class="footer footer-center p-4 text-base-content mt-12">
|
||
<aside>
|
||
<p class="text-xs text-gray-500">
|
||
由北京价值前沿科技有限公司 AI投研agent:“价小前投研” 进行投研呈现。<br>
|
||
本报告为AI合成数据,仅供研究参考,不构成任何投资建议,投资需谨慎。
|
||
</p>
|
||
</aside>
|
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|
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|
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|
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|
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