Core Viewpoint - Company *ST Gao Hong (000851.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties including forced delisting [1] Summary by Relevant Sections - **Investigation and Allegations** - The company received an administrative penalty notice from the CSRC on August 8, 2025, indicating that its non-public stock issuance in 2020 constituted fraudulent issuance [1] - Annual reports from 2015 to 2023 were found to contain false records, which could trigger major violations under the Shenzhen Stock Exchange listing rules [1] - **Potential Consequences** - The company may face forced delisting due to the serious violations identified, as per the Shenzhen Stock Exchange listing rules [1] - Following the imposition of risk warnings, the company's stock will continue to be labeled as "*ST Gao Hong" with the same security code "000821" [1] - The daily price fluctuation limit for the stock remains at 5% even after the risk warning is applied [1]

Core Viewpoint - The semiconductor sector in Hong Kong is experiencing a decline, influenced by potential U.S. tariffs on foreign-produced chips, particularly affecting Chinese companies [1] Company Performance - ChipMOS Technologies (02166) saw a decline of 3.19%, with a latest price of 1.820 - Hua Hong Semiconductor (01347) decreased by 1.47%, with a latest price of 43.040 - Beijing Microelectronics (02149) fell by 1.30%, with a latest price of 56.850 - China Electronics Huada Technology (00085) dropped by 1.23%, with a latest price of 1.600 - Semiconductor Manufacturing International Corporation (00981) decreased by 1.14%, with a latest price of 52.000 [1] Industry Impact - Trump's proposed tariffs of approximately 100% on semiconductors not produced in the U.S. could increase export pressures on China's semiconductor industry in the short term [1] - In the long term, these tariffs may strengthen China's determination for self-sufficiency in semiconductor production [1] - The risks of technological blockade and market fragmentation could lead to decreased global semiconductor efficiency and increased costs [1]

Market Overview - Hong Kong stocks opened lower but closed higher, with all three major indices ending in the green. The Hang Seng Index rose by 0.92% to 24,733.45 points, with a total turnover of HKD 234.68 billion [1] - The overall upward trend in Hong Kong stocks is considered healthy, shifting from previous risk-averse sentiment to improvements in fundamentals and positive policy expectations [1] Blue Chip Performance - New Oriental-S (02057) led blue-chip stocks, rising by 6.49% to HKD 36.58, contributing 2.7 points to the Hang Seng Index. Its revenue for the fourth fiscal quarter grew by 9.4% year-on-year, exceeding market expectations [2] - Other notable blue-chip performances included Zhongsheng Holdings (00881) up 5.59%, Lenovo Group (00992) up 4.95%, while Xinyi Glass (00868) fell by 5.87% [2] Sector Highlights - Gold stocks performed strongly due to lower-than-expected U.S. non-farm payroll data, with Shandong Gold (01787) rising by 10.7% and Chifeng Jilong Gold Mining (06693) up 8.89% [3] - Semiconductor stocks also saw significant gains, with Hua Hong Semiconductor (01347) up 8.69% and Shanghai Fudan (01385) up 5.66% [4] Stablecoin Sector - The stablecoin sector continued to decline, with Yunfeng Financial (00376) down 6.91% and Guotai Junan International (01788) down 6.48%. The Hong Kong Monetary Authority's new regulations on stablecoins are expected to delay the issuance of licenses until early 2026 [5][6] Notable Stock Movements - InnoCare Pharma (02577) surged by 30.47% after announcing a partnership with NVIDIA to promote a new power architecture for AI data centers [7] - Huajian Medical (01931) rose by 20.7% following a strategic cooperation agreement with BGI [8] - China Resources Medical (01515) fell by 15.58% due to a profit warning, expecting a decline of 20% to 25% in profit for the upcoming six months [9]

Core Viewpoint - Semiconductor stocks in Hong Kong have shown strong performance, with several companies experiencing significant gains in their stock prices [1]. Group 1: Stock Performance - Shun Tai Holdings (01335) increased by 7.83%, reaching a price of 0.124 with a market capitalization of 302 million [2]. - InnoCare Pharma (02577) rose by 7.90%, with a latest price of 62.150 and a total market value of 555.87 billion [2]. - Shanghai Fudan (01385) saw a gain of 6.18%, priced at 33.180 and a market cap of 27.255 billion [2]. - Hua Hong Semiconductor (01347) grew by 5.96%, with a price of 41.800 and a market capitalization of 72.192 billion [2]. - Meijiayin Holdings (06939) increased by 4.44%, priced at 0.470 and a market cap of 24.4 million [2]. - SMIC (00981) rose by 2.80%, with a price of 51.450 and a total market value of 410.883 billion [2]. - Brainhole Technology (02203) increased by 2.65%, priced at 0.194 with a market cap of 15.5 million [2]. - Jingmen Semiconductor (02878) saw a rise of 2.25%, priced at 0.455 and a market cap of 113.6 million [2]. - China Electric Huada Technology (00085) increased by 2.11%, with a price of 1.450 and a market capitalization of 29.43 billion [2].

(责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇8月4日｜港股半导体股走强，其中，顺泰控股、英诺赛科涨超7%，上海复旦涨超6%，华虹半导 体涨超5%，美佳音控股涨超4%，中芯国际、脑洞科技、晶门半导体、中电华大科技涨超2%。 | 代码 | 名称 | | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | --- | | 01335 | 顺泰控股 | 0 | 7.83% | 0.124 | 3.02亿 | | 02577 | 英诺赛科 | | 7.90% | 62.150 | 555.87亿 | | 01385 | 上海賞目 | | 6.18% | 33.180 | 272.55亿 | | 01347 | 华虹半导体 | | 5.96% | 41.800 | 721.92亿 | | 06939 | 美佳音控股 | | ...

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing tech rivalry between China and the U.S., which may impact domestic capital expenditures in the short term but could ultimately drive the development of a self-sufficient AI ecosystem in China [1]. Group 1: Stock Performance - Chip stocks have shown significant gains, with Huahong Semiconductor rising by 5.2% to HKD 41.5, Shanghai Fudan increasing by 3.94% to HKD 32.48, SMIC up by 3.1% to HKD 51.6, and China Electric Power Technology gaining 2.11% to HKD 1.45 [1]. Group 2: Regulatory Developments - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1]. Group 3: Industry Implications - Open Source Securities suggests that the incident reflects the broader U.S.-China tech competition, which may suppress short-term capital investments by domestic internet firms but could lead to a more stable and healthy development of China's AI industry in the long run [1]. - Huaxi Securities believes that the combination of the U.S. chip security legislation and the H20 incident may accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, clarifying the long-term growth trajectory for the industry [1].

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing technological competition between China and the United States, which may impact domestic capital expenditure in the short term but could ultimately drive the development of a self-sufficient AI industry in China [1] Group 1: Stock Performance - Semiconductor stocks have shown significant gains, with Huahong Semiconductor rising by 5.2% to HKD 41.5, Shanghai Fudan increasing by 3.94% to HKD 32.48, SMIC up by 3.1% to HKD 51.6, and China Electric Power Technology rising by 2.11% to HKD 1.45 [1] Group 2: Regulatory Actions - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1] Group 3: Industry Implications - Open Source Securities suggests that the incident reflects the broader context of Sino-U.S. technological competition, which may suppress domestic internet companies' capital expenditures in the short term but will push for a more stable and healthy development of China's AI industry in the long term [1] - Huaxi Securities believes that the combination of the U.S. chip security legislation and the H20 incident will accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, making the long-term growth trajectory more certain [1]

Core Viewpoint - The recent security issues surrounding Nvidia's H20 computing chip highlight the ongoing tech rivalry between China and the U.S., which may impact domestic capital expenditure in the short term but could lead to a more stable and self-sufficient AI industry in China in the long run [1]. Group 1: Stock Performance - Semiconductor stocks are experiencing significant gains, with Huahong Semiconductor up 5.2% to HKD 41.5, Shanghai Fudan up 3.94% to HKD 32.48, SMIC up 3.1% to HKD 51.6, and China Electric Power Technology up 2.11% to HKD 1.45 [1]. Group 2: Regulatory Actions - The National Internet Information Office of China has summoned Nvidia to explain the security risks associated with the H20 chip sold to China, in accordance with the Cybersecurity Law, Data Security Law, and Personal Information Protection Law, with a deadline for submission of relevant materials set for July 31, 2025 [1]. Group 3: Industry Implications - According to Open Source Securities, the incident reflects the broader context of U.S.-China tech competition, which may suppress domestic internet companies' capital expenditures in the short term but will ultimately drive the development of a self-controlled "technology-security-ecosystem" in China's AI industry [1]. - Huaxi Securities suggests that the U.S. chip security legislation and the H20 incident may accelerate the domestic production of AI computing chips, such as Huawei's Ascend and Cambricon, indicating a clearer long-term growth trajectory for these companies [1].

| 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00085 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 30,000,000,000 | HKD | | 0.01 HKD | | 300,000,000 | 本月底法定/註冊股本總額： HKD 300,000,000 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國電子華大科技有限公司 呈交日期: 2025年8月1日 I. 法定 ...

金融界消息 截至2025年7月31日收盘，*ST高鸿（000851）报收于2.13元，上涨4.93%，换手率2.9%，成 交量32.83万手，成交金额6928.94万元。 通过天眼查大数据分析，大唐高鸿网络股份有限公司共对外投资了22家企业，参与招投标项目25次，知 识产权方面有商标信息67条，专利信息9条，此外企业还拥有行政许可6个。 来源：金融界 *ST高鸿最新一期业绩显示，截至2025一季报，公司营业总收入1.82亿元、同比减少50.01%，归属净利 润4269.00万元，同比减少140.08%，扣非净利润4275.33万元，同比增长28.94%，流动比率0.871、速动 比率0.690、资产负债率82.15%。 天眼查商业履历信息显示，大唐高鸿网络股份有限公司，成立于1994年，位于贵阳市，是一家以从事软 件和信息技术服务业为主的企业。企业注册资本115786.002万人民币，实缴资本3520.81万人民币。公司 法定代表人为付景林。 资金流向方面，今日主力资金净流入1634.44万元，占比成交额23.59%。其中，超大单净流出420.50万 元、占成交额6.07%，大单净流入2054.94万元、占成 ...