智通财经APP获悉，香港联交所最新资料显示，1月7日，国家集成电路产业投资基金股份有限公司减持 中芯国际(00981)840万股，每股作价74.93港元，总金额约为6.29亿港元。减持后最新持股数目约为7.17 亿股，最新持股比例为8.96%。 ...

智通财经APP获悉，香港联交所最新资料显示，1月7日，国家集成电路产业投资基金股份有限公司减持 中芯国际(00981)840万股，每股作价74.93港元，总金额约为6.29亿港元。减持后最新持股数目约为7.17 亿股，最新持股比例为8.96%。 ...

| 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 68.30 亿元 | +2.78 亿元 | | 腾讯控股(00700) | 34.16 亿元 | +8.28 亿元 | | 美团-W(03690) | 21.00 亿元 | +3.93 亿元 | | 快手-W(01024) | 19.90 亿元 | +12.98 亿元 | | 小米集团-W(01810) | 18.69 亿元 | +4.84 亿元 | | 中芯国际(00981) | 17.04 亿元 | +4521.87 万元 | | 中国平安(02318) | 12.49 亿元 | -3.42 亿元 | | 南方恒生科技(03033) | 8.85 亿元 | +8.58 亿元 | | 晶泰控股(02228) | 8.65 亿元 | +9255.58 万元 | | 金风科技(02208) | 8.47 亿元 | -8126.88 万元 | | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 87.76 亿元 | -745 ...

智通财经APP获悉，1月12日港股市场，北水成交净买入73.06亿港元，其中港股通(沪)成交净买入15.46亿港元，港股通(深)成 交净买入57.6亿港元。 北水净买入最多的个股是快手-W(01024)、腾讯(00700)、南方恒生科技(03033)。北水净卖出最多的个股是中国移动(00941)、 金风科技(02208)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W | 43.51 乙 | 44.25亿 | 87.76 乙 | | HK 09988 | | | -7451.44万 | | 腾讯控股 | 23.87 乙 | 12.03亿 | 35.90亿 | | HK 00700 | | | +11.84亿 | | 小米集团-W | 15.46 乙 | 12.56亿 | 28.02亿 | | HK 01810 | | | +2.89 亿 | | 美团-W | 7.88 亿 | 16.62 Z | 24.50亿 | | HK 03690 | | | -8.75 亿 | | 中芯国际 HK 00981 | ...

中芯国际创始人张汝京曾说，他在自己离开台积电时，台积电董事长告诉他，你敢去大陆，那在台积电 的这么多股票就不能拿了！ 2025 年，满头华发的张汝京现身讲台，面对台下朝气蓬勃的年轻面庞，他身形瘦削却身姿挺拔，尽显 风骨。 外界给这位半导体老兵算过一笔账，怎么算，他这辈子都是在做"亏本买卖"。可在他自己心里的那个账 本上，算盘珠子拨弄的逻辑，却与世俗的精明截然不同。 这第一笔"大额亏损"，记在世纪之交。 那时候，他在德州仪器风头无两，在台积电也是身居要位。动了北上创业的念头后，老东家给他出了一 道残酷的选择题：要去大陆可以，但属于你的天价股票和期权，必须全部清零。 在当时，那是一笔换算下来几辈子都花不完的巨款。 换做常人，大概率要犹豫，甚至退缩。但张汝京几乎没有停顿，大手一挥就划掉了这笔泼天富贵，哪怕 那是他半辈子的积蓄。 对他来说，父亲张锡纶弥留之际那句 "何时回祖国建厂" 的期盼，以及母亲想在故土安度晚年的心愿， 远比任何金钱财富都更有分量。 既然放弃了荣华富贵，前方等待他的本该是鲜花掌声吧？并没有。 他在上海浦东落地时，迎接他的是一片还要跟蚊虫作战的荒滩，以及一道名为《瓦森纳协定》的严密铁 幕。 手里攥着 ...

市值榜里的经济转型密码 编者按 市值榜单是观察中国经济的一扇窗口。Wind最新发布的2025年度"中国上市企业市值500强"榜单中，前30名的席位被金融、能源、科技、消费、智 能制造等领域的龙头企业占据，其中，腾讯、工行、农行等"巨头"以万亿级市值彰显行业领军地位；在第11至第30名的阵营中，工业富联、中芯国际、寒 武纪等科技企业与比亚迪、紫金矿业等制造企业同台竞技，它们跻身市值榜是中国经济结构转型的深层投射。这些上榜企业既是中国经济的"压舱石"，更 是产业升级的"排头兵"。这些企业未来仍有哪些提升空间，本期报道将作深度分析。 "这些企业的成功是多重因素共振的结果，跻身市值榜前列是中国经济结构转型的深层投射。"南开大学金融发展研究院院长田利辉在接受中国经济时报采 访时称，行业稀缺性是关键，如中芯国际作为芯片国产替代的"独苗"，中际旭创占据光模块全球龙头地位。技术壁垒构筑"护城河"，中际旭创持续投入硅 光、CPO等前沿技术，中芯国际突破先进制程，印证了"技术领先即市场领先"的硬道理。商业模式稳健性不可忽视，长江电力依托水电特许经营权获得稳 定现金流，中国石化通过"三能并举"平滑周期波动。产业周期红利同样重要，A ...

资料显示，芯片ETF（159995）跟踪国证芯片指数，30只成分股集合A股芯片产业中材料、设备、 设计、制造、封装和测试等龙头企业，其中包括中芯国际、寒武纪、长电科技、北方华创等。其场外联 接基金为，A类：008887；C类：008888。 1月12日早盘，A股三大指数走势分化，上证指数盘中上涨0.25%，互联网、文化传媒、软件等板块 涨幅靠前，摩托车、能源设备跌幅居前。芯片科技股震荡走强，截至10点09分，芯片ETF（159995）上 涨1.68%，其成分股龙芯中科上涨9.52%，长电科技上涨7.09%，中微公司上涨6.77%，兆易创新上涨 5.58%，晶盛机电上涨4.28%。 近日，英伟达创始人兼CEO黄仁勋在国际消费电子展CES 2026上发表主题演讲，并正式发布Rubin 平台。该平台由六款专为打造超凡 AI 超级计算机而设计的全新芯片组成，包括Vera CPU、Rubin GPU、NVLink 6 交换机、ConnectX-9 SuperNIC、BlueField-4 DPU 和 NVIDIA Spectrum-6 以太网交换 机，6款芯片协同设计，从而大幅缩短训练时间并降低推理 token 成本。 ...

科创板融资余额较前一交易日减少10.67亿元，融券余额增加1892.98万元。267股融资余额环比增加， 264股融券余额环比增加。 | 688222 | 成都 | 48641.65 | 18.40 | 28.51 | -27.41 | 5.76 | | --- | --- | --- | --- | --- | --- | --- | | | 先导 | | | | | | | 688592 | 司南 | 17610.92 | 16.08 | 34.83 | -3.66 | 0.56 | | | 导航 | | | | | | | | 盛邦 | | | | | | | 688651 | 安全 | 17370.1 1 | 15.98 | 0.00 | | -7.18 | | | 航天 | | | | | | | 688552 | 南湖 | 23388.40 | 15.75 | 81.02 | -25.84 | -0.22 | | 688135 | 利扬 | 301 11.05 | 14.78 | 0.00 | | 7.77 | | | 芯片 | | | | | | | 688246 | 嘉和 | 21497.74 ...

| 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 99.37亿股 | 71.60% | | 绿色动力环保(01330) | 2.82亿股 | 69.76% | | 凯盛新能(01108) | 1.70亿股 | 67.96% | | 天津创业环保股份(01065) | 2.29亿股 | 67.38% | | 大眾公用(01635) | 3.58亿股 | 67.11% | | 中国神华(01088) | 22.37亿股 | 66.22% | | 南方恆生科技(03033) | 90.76亿股 | 65.31% | | 昊天国际建投(01341) | 69.01亿股 | 62.19% | | 广汽集团(02238) | 17.50亿股 | 62.18% | | 中远海能(01138) | 7.91亿股 | 61.05% | | 弘业期货(03678) | 1.52亿股 | 60.80% | | 广发証券(01776) | 10.16亿股 | 59.70% | | 万科企业(02202) | 13.12亿股 | 59.45% | | 昭衍新药(0 ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The competition in AI entry points is intensifying, with major companies increasing their investments. China's AI presence globally has significantly improved, with domestic large models continuously iterating. Despite GPT-5.2 and Gemini 3 Pro leading, Chinese models have effectively altered the North American dominance in the competitive landscape. In the global Top 10, three positions are held by Chinese models, and in the Top 15, there are six Chinese companies. By 2025, China's open-source AI model usage is expected to account for over 70% of the global market [2][11][19] - The demand for inference has surged, with the emergence of o1 class inference models unlocking approximately 10 times the potential of traditional models in terms of inference-time compute. The demand for computing power has shifted from being solely "training-driven" to a dual focus on "training + inference" [2][5][37] - The battle for entry points has evolved beyond mobile devices to OS-level intelligent agents and super apps. By December 24, 2025, ByteDance's AI application Doubao announced daily active users (DAU) exceeding 100 million, while Qianwen App reached over 30 million monthly active users within 23 days of public testing, becoming the fastest-growing AI application globally. Doubao bypasses traditional interfaces, creating an "AI operating system" that directly interacts with super apps like WeChat and Alipay, challenging the rules of the traditional app era [2][44][45] Summary by Sections AI Entry Point Competition - China's AI global presence has significantly improved, with domestic large models continuously iterating. In the global Top 10, three positions are held by Chinese models, and in the Top 15, there are six Chinese companies. By 2025, China's open-source AI model usage is expected to account for over 70% of the global market [2][11][19] - The competition for entry points has evolved beyond mobile devices to OS-level intelligent agents and super apps, with significant user engagement reported for new AI applications [2][44][45] Domestic Chip Breakthroughs - The smart computing center in China is expanding, with a projected compound annual growth rate (CAGR) of 57% from 2020 to 2028, reaching 2,781.9 EFLOPS by 2028. Domestic chip technology is steadily improving, with local cloud service providers accelerating the construction of heterogeneous environments [5][50] - Domestic general-purpose GPUs are upgrading from "usable" to "good," with performance metrics approaching those of leading international models. The production capacity of domestic chip manufacturers like SMIC is continuously increasing, providing solid support for domestic AI chip production [5][53][54] Supply and Demand Dynamics - The demand side is characterized by a surge in inference demand as AI applications become more prevalent, while the supply side sees continuous improvements in domestic GPU performance and accelerated adaptation by cloud service providers [5][59] - The AI server market is expected to see a shift towards inference servers becoming the mainstream, with a projected market size of approximately $39.3 billion in 2024, reflecting a year-on-year growth of 49.7% [5][64]