CITIC Securities' research report highlights that, propelled by AI-driven demand, the storage industry is still in the nascent to intermediate phase of a super-boom cycle, with the supply shortage projected to persist at least until 2027. Since February, Kioxia's above-expectation performance and guidance, the rise in NAND's first-quarter contract prices, and the better-than-anticipated performance announcements from leading domestic module manufacturers in January and February have all further underscored the robust prosperity of the storage industry. CITIC Securities maintains an optimistic stance on the growth in storage demand that surpasses expectations and anticipates that the industry's supply shortage will continue until the end of 2027. Key recommendations encompass: storage module companies, which exhibit strong short-term performance potential; and storage design companies, with sustained optimism for original storage manufacturers and design firms closely aligned with them.