电子：闪迪发布涨价函，行业有望进入涨价周期

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the electronic industry [3][8]. Core Insights - SanDisk has announced a price increase of over 10% for all its products starting April 1, 2025, indicating a potential shift towards a supply-demand balance in the storage industry [7]. - The supply side is seeing a reduction in production plans from several storage chip manufacturers, with cuts ranging from 15% to 25%, which is expected to gradually decrease supply [7]. - Demand is anticipated to grow due to structural increases in core areas such as servers, mobile phones, and PCs, driven by AI and smart terminal advancements [7]. - Current market prices for storage products are relatively low, with specific examples showing price fluctuations for DRAM and SSD products [7]. - The overall profitability of the industry is expected to recover as supply-demand dynamics improve, making it a favorable time to invest in related companies [7]. Summary by Sections Industry Events - SanDisk's price increase signals a transition from oversupply to a more balanced market [7]. Supply and Demand Dynamics - Multiple manufacturers are reducing output, which is expected to stabilize prices and improve market conditions [7]. - AI-driven demand from servers and smart devices is projected to enhance storage needs [7]. Market Pricing - Current prices for DRAM and SSD products are at low levels, with specific price data provided [7]. Investment Recommendations - The report suggests focusing on companies within the storage industry, such as Shannon Semiconductor, Demingli, Jiangbolong, Baiwei Storage, and Langke Technology [7].