金吾财讯 | 闪迪(SNDK)股价拉升大涨，一度超11%创历史新高，现报1367.51美元，涨8.83%。
消息面上，闪迪以长期供货协议构筑行业竞争护城河，通过强约束合约锁定远期出货与收入确定性。公司已累计签下五份长期供应协议，预计覆盖 2027 财年超三分之一 NAND 比特出货量，后续占比有望突破五成，超出前期预期。
相关合约约束力度显著升级，三季度三份协议合计锁定最低收入 420 亿美元，合同最长周期达五年。定价采用固浮结合模式，兼顾行情上行收益与客户成本缓冲；同时客户缴纳数十亿美元抵押品，配套违约赔偿机制，条款约束力已成为行业新标杆。
长约落地也为存储厂商扩产与技术投入托底，支撑企业加码晶圆厂、高阶层数 NAND 及下一代存储技术研发。此外闪迪高带宽闪存 HBF 研发稳步推进，年内将启动原型产线，2027 年有望落地完整商用方案。
资本布局层面，闪迪参与南亚科技 25 亿美元私募融资，通过股权投资锁定 DRAM 优先供应权益，补齐存储品类布局，进一步完善自身供应链战略闭环。
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