CITIC Securities' research report reveals that, while DRAM spot prices have seen a slight downturn since March, the prevailing spot rates for mainstream DRAM chips still outstrip contract prices, which themselves are on an upward trajectory. Concurrently, NAND contract prices experienced a robust surge in March, outpacing spot prices. TrendForce predicts a notable escalation in DRAM and NAND Flash contract prices during the second quarter, with expected hikes of 58% to 63% and 70% to 75%, respectively. This signals a continued buoyant business environment (prosperity) within the memory sector. The supply deficit is anticipated to linger until 2027, with price increments persisting through 2026. CITIC Securities maintains a resolutely optimistic stance on the memory industry's growth trajectory and strongly advocates for original memory manufacturers and their closely affiliated design companies.