Reinstatement - Zhite New Materials and *ST Chengchang have completed their suspension investigations and their stocks have resumed trading [1][1] Share Buybacks and Equity Transfers - Hongli Zhihui's Mr. Li Guoping plans to transfer 5% of shares at a price of 5.93 CNY per share [2] - Luxshare Precision plans to repurchase company shares for between 1 billion to 2 billion CNY [2] - Defu Technology intends to repurchase shares for between 75 million to 150 million CNY, with a maximum repurchase price of 53.46 CNY per share [2] External Investments and Daily Operations - Hanyu Pharmaceutical has signed a sales order for GLP-1 raw materials worth 180 million CNY, which accounts for 30.50% of its audited revenue for 2024 [3] - Defu Technology plans to acquire a 26.32% stake in Amber New Materials for 509.5 million CNY [4] - Changchun High-tech has received a one-time payment of 70 million USD from Yarrow for the exclusive licensing agreement related to the GenSci098 injection project [4] - Zhongchuang Zhiling plans to issue convertible bonds to raise no more than 4.35 billion CNY for various high-end manufacturing projects [4] - Triangle Tire intends to invest 3.219 billion CNY to establish a new company in Cambodia for the production of 7 million high-performance radial tires annually [4] - Zhejiang Zhongtuo's subsidiary Hunan Zhongtuo has been selected as a restructuring investor for Jiangsu Delong Nickel Industry and 30 other companies [4] Performance Changes - Tianji Co. expects a net profit of 70 million to 105 million CNY in 2025, with a recovery in profitability due to rising sales prices of lithium hexafluorophosphate [5] - SAIC Group anticipates a net profit of 9 billion to 11 billion CNY in 2025, representing a year-on-year increase of 438% to 558% [6] - Shengnuo Bio expects a net profit of 152 million to 190 million CNY in 2025, a year-on-year increase of 204.42% to 280.53% [6] - Zhenghai Magnetic Materials forecasts a net profit of 310 million to 380 million CNY in 2025, with a year-on-year increase of 235.72% to 311.52% [6] - Sanmei Co. expects a net profit of 1.99 billion to 2.15 billion CNY in 2025, a year-on-year increase of 155.66% to 176.11% [6] - Tongxing Technology anticipates a net profit of 68 million to 88 million CNY in 2025, a year-on-year increase of 74.2% to 125.44% [7] - Luoyang Molybdenum expects a net profit of 20 billion to 20.8 billion CNY in 2025, a year-on-year increase of 47.80% to 53.71% [8] - Nawei Technology forecasts a net profit of 12.8 million to 14.5 million CNY in 2025, a year-on-year increase of 54.51% to 75.03% [9]

Group 1: Stock Market Activity - 67 stocks were listed on the institutional trading leaderboard today, with 44 seeing net purchases and 19 experiencing net sales [1] - The top three stocks with the highest net purchases by institutions were China Satellite Communications (5.85 billion), Shengguang Group (4.94 billion), and Sanwei Communication (2.79 billion) [1][2] Group 2: Semiconductor Industry - The semiconductor equipment localization rate in China is currently low, with a projected comprehensive localization rate of 25% by 2024, and specific equipment like photolithography machines and detection equipment having rates below 10% [3] - Changxin Technology, the leading DRAM manufacturer in China, is set to raise 29.5 billion for technology upgrades and production line improvements, which is expected to boost domestic equipment demand [3] Group 3: Tourism Industry - Zhongxin Tourism is a leading outbound tourism operator, with Alibaba as its second-largest shareholder [5] - The State Administration for Market Regulation has initiated an investigation into Ctrip Group for alleged monopolistic practices [5]

1、行情 午后光刻胶概念大幅走强，七彩化学（20CM）2连板，彤程新材涨停，上海新阳、芯源微、恒坤新材、南大光电涨超10%，艾森股份、飞凯材 料、雅克科技等集体大涨； CPO概念此后也局部反弹，源杰科技、仕佳光子、联特科技、罗博特科、剑桥科技、中际旭创、新易盛等集体大涨； 尾盘阶段，智能电网受消息刺激脉冲，三变科技回封3连板，保变电气直线拉板，特变电工、安靠智电、中国西电、许继电气、神马电力、国 电南自等集体大幅拉升； 此外，无人驾驶、有色、存储、化工等均有局部强势表现，AI应用、航天、AI医疗等集体重挫。 截至收盘，沪指收跌0.33%，深成指、创业板指分别收涨0.41%、0.56%，市场超3100股下跌，2200余股上涨。 指数小幅震荡，但市场体验非常糟糕的一天。 题材方面，玻纤概念（电子布）开盘大幅高开高走，东材科技涨停，国际复材、中材科技、宏和科技、长海股份、中国巨石、菲利华等集体大 幅冲高； 今日三市成交额为2.9万亿，相较昨日少了1万亿。 2、航天 昨日盘中一波降温后，盘后又接了一波降温。 航天板块又是停牌、又是澄清、又是集体异动警示，于是今日开盘后板块集体核按钮。 海格通信、烽火通信、神剑股份、东 ...

Market Overview - The Shanghai Composite Index experienced fluctuations throughout the day, while the ChiNext Index rebounded after hitting a low. Semiconductor stocks strengthened in the afternoon, with photolithography machines and photoresists leading the gains, resulting in multiple stocks like Tongcheng New Materials and Kangqiang Electronics hitting the daily limit. The tourism sector was active, with stocks like Zhongxin Tourism and Shaanxi Tourism also reaching the daily limit. The non-ferrous metals sector saw gains, with stocks like Zinc Industry and Luoping Zinc Electric hitting the daily limit. Overall, more stocks declined than rose, with over 3,100 stocks in the Shanghai and Shenzhen markets in the red, and today's trading volume decreased by over 1 trillion to 2.94 trillion [1]. Hot Topics Photolithography Resins - The photolithography resin sector saw significant gains today, with stocks like Tongcheng New Materials, Baiao Chemical, and Dongcai Technology hitting the daily limit, while Su Da Weige and Shanghai Xinyang saw increases of over 15%. According to Frost & Sullivan, the domestic photolithography resin market is expected to reach 15.03 billion yuan by 2028, with a compound annual growth rate of 18.5% [4][5]. Lithium Batteries - The lithium battery sector rose today, with Lingpai Technology increasing by over 18%, and stocks like Keheng Co., Xianhui Technology, and Honggong Technology rising by over 10%. Tianfeng Securities predicts that the demand for power and energy storage batteries will reach 1,872 GWh and 2,236 GWh in 2025 and 2026, respectively, with year-on-year growth of 45% and 25% [6][7]. Domestic Chips - The domestic chip sector performed well today, with stocks like Sanfu Co., Unisoc, Wenkai Co., and Kangqiang Electronics hitting the daily limit. TSMC's latest quarterly results showed a significant increase in AI chip demand, with a 35% year-on-year growth in net profit for Q4 2025. TSMC expects sales in Q1 2026 to be between $34.6 billion and $35.8 billion, exceeding market expectations of $33.22 billion [9][10][11]. Longxin Technology - Longxin Technology has received IPO acceptance, being the fourth-largest DRAM manufacturer globally and the largest in China. The company plans to raise 29.5 billion yuan for production line upgrades and next-generation technology development, with expectations to complete most equipment installations by the end of 2027, which may boost domestic equipment demand and market share [12].

据The Information报道，DeepSeek或将于2月发布新一代旗舰AI模型DeepSeek V4。 V4是DeepSeek继2024年12月发布的V3模型之后的最新版本。两位知情人士称，DeepSeek内部的初步测试表明，V4在编程能力上超过了目前市场上的其他顶 级模型，如Anthropic的Claude和OpenAI的GPT系列。 一、事件：DeepSeek V4发布 新模型或颠覆存储需求结构 尽管DeepSeek V4尚未正式发布，但从1月12日晚间DeepSeek发布梁文锋署名的新论文以及相关技术资料来看，其核心竞争力或来源于两项关键技术创新， 一举打破了传统大模型"参数即性能"的固有认知。 其中，论文中提到的Engram模块是V4架构的核心突破。据介绍，DeepSeek推出的Engram模块是一个巨大的、可扩展的嵌入表（Embedding Table）。 通俗地说，Engram就是给Transformer加个外接记忆库，并把当前token附近的一小段内容，用快速、省参数的方式，在一个超大的静态记忆表里查到对应内 容。 传统大模型需要通过全参数计算，同时完成知识存储与逻辑推理两大任务，造成了 ...

Group 1 - TSMC expects capital expenditures to surge to $56 billion in 2026, exceeding market expectations and reflecting strong confidence in the sustainability of global AI growth [1] - The company forecasts a revenue growth of nearly 30% in 2026, surpassing analyst average expectations [1] - TSMC's Q1 revenue guidance is projected to reach between $34.6 billion and $35.8 billion, exceeding Bloomberg's consensus estimate of $33.22 billion [1] Group 2 - TSMC's strong outlook signals positive trends for AI development, supporting demand for NVIDIA accelerators and alleviating concerns about the sustainability of data center spending by tech giants like Meta and Amazon [3] - TSMC reported a net profit of NT$505.7 billion for Q4 2025, a 35% year-over-year increase, exceeding market expectations [3] - The company’s gross margin improved from 59.5% to 62.3%, and operating margin increased from 50.6% to 54%, both surpassing analyst forecasts [3] Group 3 - A severe shortage of memory chips in 2025 may pose challenges to TSMC's broader business, as manufacturers prioritize high-end memory production for NVIDIA and AMD chips [4] - The memory shortage is expected to impact mobile device sales in 2026, with smartphone sales projected to decline by 11.6% year-over-year according to Macquarie Capital [4]

Market Performance - On January 15, the autonomous driving sector showed strong performance, with companies like Weidi Co., Suoling Co., and others hitting the daily limit up [1] - Notable stock movements included Shenglu Communication (+9.97%), Weidi Co. (+10.00%), Hengshuai Co. (+8.44%), and others showing significant gains [2] Events - On January 14, Shanghai's Economic and Information Commission, Transportation Commission, and Public Security Bureau jointly issued the "Shanghai High-Level Autonomous Driving Leading Area 'Mosu Zhixing' Action Plan," aiming for L4 autonomous driving applications by 2027, targeting over 6 million passengers and 800,000 standard containers, with a designated area of 2,000 square kilometers [3] - Tesla CEO Elon Musk announced that starting February 14, the global market will stop selling the one-time purchase version of FSD (Full Self-Driving) capability, transitioning to a monthly subscription model [3] - On January 5, NVIDIA released the Alpamayo series of open-source AI models and simulation tools, introducing the industry's first open large-scale inference VLA model to support L4 autonomous driving [4] Institutional Insights - The combination of L3 access and L4 scenario expansion is catalyzing the industry towards a critical phase of large-scale implementation, with Shanghai's plan providing a clear policy path for commercialization [5] - The intelligent driving industry chain has formed a closed-loop collaboration from perception to execution, with a rapid increase in penetration rates expected to drive market expansion [5] - The global ADAS market is projected to grow from $34.65 billion in 2024 to $66.56 billion by 2030, with an annual growth rate of 12.2% [6] - The automotive sensor market is expected to increase from $30.8 billion in 2023 to $62.2 billion by 2028, indicating strong growth potential for domestic supply chains in perception hardware and domain control platforms [6]

Market Overview - The three major US stock indices experienced their first consecutive declines since 2026, with the Nasdaq falling by 1%, marking its largest drop in nearly a month. The S&P 500 closed down 0.53% and the Dow Jones down 0.09% [1] - Technology stocks dragged down the market, with the "Big Seven" tech companies, including Microsoft, Amazon, and Meta, all declining by over 2%. The semiconductor index halted a three-day rise, with Broadcom dropping over 4% [1] - Despite better-than-expected Q4 earnings, Bank of America and Citigroup saw declines of nearly 4% and over 3%, respectively, while Wells Fargo, which reported weaker profits, fell over 4% [1] - The Nasdaq Golden Dragon China Index decreased by 0.23%, with Ctrip dropping 17% and Arctech down 5%. Alibaba rose by about 2%, while Century Internet gained over 7% [1] Commodity and Currency Movements - US Treasury prices rose, with the 10-year Treasury yield hitting a one-week low. The dollar index fell after approaching a four-week high, while the offshore yuan slightly rebounded, briefly surpassing 6.97 [1] - Bitcoin surged nearly 4% from its daily low, breaking the $97,000 mark, reaching a nearly two-month high [1] - Precious metals saw a resurgence, with gold and silver hitting record highs for three consecutive days. Gold rose over 1%, and silver increased by nearly 8%. Tin and copper also reached historical highs, with tin rising by 11% and nickel up nearly 6% [1] Industry Developments - SK Hynix has halted production of consumer-grade memory chips, redirecting resources towards the B2B and AI server markets [3] - Key raw materials for PCBs, such as fiberglass cloth, are in short supply, prompting major companies like Apple to seek alternative suppliers [4] - The US plans to implement a manned lunar orbit mission in February [5] - Tesla will stop selling the FSD buyout version after February 14, offering it only as a monthly subscription [6] AI and Technology Innovations - OpenAI is investing $10 billion in partnership with Cerebras to deploy 750 megawatts of computing power over three years. OpenAI and Anthropic are reportedly taking initial steps, while SpaceX is in talks with several banks [7] - OpenAI's CEO Sam Altman and former Apple design chief Jony Ive are set to launch an AI device, code-named Sweetpea, expected to be released in September with an initial production target of 40 to 50 million units [7][13] - Alibaba is set to unveil its Qianwen app on January 15, which aims to integrate various life scenarios, enhancing its capabilities in the AI era [15] Financial Sector Updates - The Chinese Ministry of Finance held a video conference to promote a package of policies aimed at boosting domestic demand [8] - Some mid-sized brokerage firms have exhausted their margin financing funds [8] - The tax rebate policy for housing exchanges will continue to support "selling old and buying new" for the 2026-2027 fiscal year [8] - The Chinese Ministry of Industry and Information Technology held a meeting to address the chaotic "price war" in the new energy vehicle sector, emphasizing strict actions against violators [8]

| 发行价格 | | 21.88元 | | | --- | --- | --- | --- | | 留签率 | | 0.02% | 询价! | | 总市值 | | 49.59亿 | | | 发行市盈率 | | 26.85 | 行ル | | 业务及亮点 | 1、 公司是我国西南地区生产规模较大、综合竞争 O | | | | | 2、公司是长安汽车、吉利汽车、比亚迪、蔚来浩 | | | | | 商的一级供应商,核心产品国内市场占有率居行 | | | | | 3、建有完整产业链体系，拥有模具开发制造和I | | | | | 司，业务辐射全国主要汽车产业集群区域。 | | | *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 ...

Group 1 - OpenAI CEO Sam Altman and former Apple design chief Jony Ive are set to launch an AI device, codenamed Sweetpea, aimed at competing with Apple's AirPods, with an expected release in September and a planned first-year production of 40 to 50 million units [1] - The device will utilize a 2nm process smartphone chip, with Samsung's Exynos chip as the primary choice, and a custom chip already developed, indicating a higher cost due to materials and components being similar to smartphones [1] - The CES 2026 showcased AI headphones as a focal point, shifting innovation from single audio performance to a combination of "audio quality + AI + multimodal" capabilities, with some products integrating cameras and environmental sensing features [1] Group 2 - The AI headphone market is projected to grow significantly, with a global market size of 3.36 billion yuan in 2023, expected to reach 75.9 billion yuan by 2027, reflecting a compound annual growth rate of 118% [2] - The integration of AI technology with smart headphones and glasses is expected to drive demand for high-performance acoustic sensors and miniature speakers, potentially expanding to more AI smart hardware, creating new growth opportunities for industry players [2] - Companies like Luxshare Precision and GoerTek are anticipated to participate in the supply chain for the new AI device, while Guoguang Electric is focusing on developing smart speakers, AI glasses, AI headphones, and VR/AR products, with plans for mass production of AI glasses [3]