{
  "title": "長鑫4F²來襲，南亞科漲價還沒完",
  "date": "2026-10-24",
  "url": "https://valueledger.co/notes/2026-10-24-research-nanya-cxmt-4f2-dram-price-test.html",
  "md_url": "https://valueledger.co/notes/2026-10-24-research-nanya-cxmt-4f2-dram-price-test.md",
  "summary": "10 月 12 日，南亞科總經理李培瑛在法說會上交出一張紀錄：第三季營收 1,336.49 億元，毛利率 85.7%（南亞科法說簡報，2026-10-12）。",
  "key_numbers": [
    {
      "number": "1,336.49 億元",
      "sentence": "10 月 12 日，南亞科總經理李培瑛在法說會上交出一張紀錄：第三季營收 1,336.49 億元，毛利率 85.7%（南亞科法說簡報，2026-10-12）。"
    },
    {
      "number": "85.7%",
      "sentence": "10 月 12 日，南亞科總經理李培瑛在法說會上交出一張紀錄：第三季營收 1,336.49 億元，毛利率 85.7%（南亞科法說簡報，2026-10-12）。"
    },
    {
      "number": "4%",
      "sentence": "當天美光收跌 4%，隔天三星、SK 海力士在韓股重挫逾 7%（鉅亨網，2026-10-14）。"
    },
    {
      "number": "7%",
      "sentence": "當天美光收跌 4%，隔天三星、SK 海力士在韓股重挫逾 7%（鉅亨網，2026-10-14）。"
    },
    {
      "number": "1,503.1 億人",
      "sentence": "今年上半年營收 1,503.1 億人民幣，淨利 776.1 億人民幣，7 月剛在上海掛牌（鉅亨網，2026-08-28）。"
    },
    {
      "number": "776.1 億人",
      "sentence": "今年上半年營收 1,503.1 億人民幣，淨利 776.1 億人民幣，7 月剛在上海掛牌（鉅亨網，2026-08-28）。"
    },
    {
      "number": "4%",
      "sentence": "依 Counterpoint 數據，它在第二季拿下全球 DRAM 一成市占，一年前只有 4%（鉅亨網，2026-10-14）。"
    },
    {
      "number": "7,380 億美元",
      "sentence": "高盛估算，消息出來後幾個交易日，全球記憶體股市值蒸發約 7,380 億美元（404K Research 轉述，2026-10）。"
    },
    {
      "number": "50%",
      "sentence": "面積少三分之一，同一塊晶片理論上可多放約 50% 的單元（GIGAZINE，2026-10-14）。"
    },
    {
      "number": "61.9%",
      "sentence": "第三季位元出貨季減中個位數百分比，營收卻季增 61.9%，因為平均售價漲了六成以上（南亞科法說簡報，2026-10-12）。"
    }
  ],
  "companies": [
    {
      "code": "2408",
      "name": "南亞科"
    },
    {
      "code": "3260",
      "name": "威剛"
    },
    {
      "code": "2337",
      "name": "旺宏"
    },
    {
      "code": "2344",
      "name": "華邦電"
    }
  ],
  "sources": [
    "https://www.nanya.com/tw/Activity?Action=IR_investorcalendar_FileName&Id=5298&column=Presentation",
    "https://tw.news.yahoo.com/%E5%8D%97%E4%BA%9E%E7%A7%91%E6%B3%95%E8%AA%AA-%E4%B8%8A%E5%AD%A3%E8%B3%BA%E9%80%BE2%E8%82%A1%E6%9C%AC-%E6%AF%9B%E5%88%A9%E7%8E%8785-7-%E9%82%84%E6%B2%92%E5%88%B0%E9%A0%82-060002555.html",
    "https://www.taisounds.com/news/content/75/293558",
    "https://openapi.twse.com.tw/v1/opendata/t187ap05_L",
    "https://udn.com/news/story/6811/9812842",
    "https://news.cnyes.com/news/id/6629359",
    "https://gigazine.net/gsc_news/en/20261014-cxmt-4f2-memory",
    "https://udn.com/news/story/7333/9832469",
    "https://404kresearch.substack.com/p/cxmts-4f2-move-jolts-memory-stocks",
    "https://news.cnyes.com/news/id/6591001",
    "https://wantrich.chinatimes.com/news/20261023900077-420101",
    "https://www.trendforce.com/presscenter/news/20260930-13258.html",
    "https://www.sec.gov/Archives/edgar/data/0000723125/000072312526000018/a2026q4ex991-pressrelease.htm",
    "https://finance.yahoo.com/technology/articles/sk-hynix-announces-2q26-financial-225600202.html",
    "https://abmedia.io/dram-cxmt-ipo",
    "https://technews.tw/?p=1331605",
    "https://valueledger.co/notes/2026-10-20-research-adata-memory-margin-squeeze.html"
  ]
}