来源：新浪基金∞工作室 芯片ETF龙头（159801）业绩比较基准为同期国证半导体芯片指数收益率，管理人为广发基金管理有限 公司，基金经理为曹世宇，成立（2020-01-20）以来回报为62.42%，近一个月回报为-11.45%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 11月27日，芯片ETF龙头（159801）开盘涨0.74%，报0.818元。芯片ETF龙头（159801）重仓股方面， 寒武纪开盘涨3.45%，中芯国际涨0.97%，海光信息涨1.57%，北方华创涨0.28%，澜起科技涨0.93%，兆 易创新涨1.21%，中微公司涨0.53%，豪威集团涨0.30%，长电科技涨0.14%，紫光国微跌0.26%。 ...

Market Overview - The A-share market saw all three major indices rise in the morning session, with the Shanghai Composite Index up 0.49% to 3883.01 points, the Shenzhen Component Index up 0.38%, and the ChiNext Index up 0.56% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.097 trillion yuan, a decrease of 46.9 billion yuan from the previous day, with over 3,300 stocks rising across the market [1] Semiconductor Sector Performance - Semiconductor stocks showed strong performance, with companies like Wentai Technology rising over 4%, and Haiguang Information and Zhaoyi Innovation both increasing over 3% [1] - Various semiconductor ETFs, including the China-Korea Semiconductor ETF and others, rose over 1.5% [1] - The China-Korea Semiconductor ETF tracks the China-Korea Semiconductor Index, which is the first cross-border index fund in the semiconductor theme, combining the CSI Semiconductor 15 Index and KRX Semiconductor 15 Index on an equal-weight basis [1] High-Tech Manufacturing Growth - According to the National Bureau of Statistics, the high-tech manufacturing sector showed positive growth, with profits in the first ten months increasing by 8.0% year-on-year, surpassing the average growth of all industrial sectors by 6.1 percentage points [2] - Specific sectors such as smart electronic manufacturing and semiconductor manufacturing saw significant profit increases, with integrated circuit manufacturing profits up 89.2% and electronic materials manufacturing profits up 86.0% [2] Future Outlook for Semiconductor Industry - Tianfeng Securities projects continued optimistic growth for the global semiconductor industry through 2025, driven by AI and domestic substitution trends [3] - The report highlights strong performance in various segments, including storage, power, and foundry, with expectations for price increases and robust quarterly performance [3] - The report also notes the positive outlook for AI-related hardware and the increasing demand for CIS due to smart vehicle needs [3] Electronic Industry Trends - China Galaxy Securities anticipates a critical transition in the electronic industry driven by AI, shifting from valuation expansion to profit realization [4] - Key opportunities are identified in three areas: semiconductor sector focusing on domestic computing power and storage cycles, consumer electronics with AI-driven hardware transformation, and components benefiting from high demand [4] - Overall, AI is pushing the electronic industry from digitization to intelligence, creating structural opportunities across the industry chain [4]

今日上午港股 1 . 芯片股早盘走高， 华虹半导体(01347)涨1.24%，中芯国际(00981)涨1.02% 。 消息面上，中原证券 表示，半导体行业2025年延续上行趋势，美国半导体出口管制不断升级，"十五五"规划建议将科技自 立自强水平大幅提高列入"十五五"时期经济社会发展的主要目标，半导体是实现科技自主的关键领 域。 2. 来凯医药-B(02105)再涨超15%，月内累计涨幅超40% 。消息面上，11月12日，来凯医药将乳腺癌候 选新药LAE002 (afuresertib)中国地区权益授予齐鲁制药，交易总金额达20.45亿元，而且来凯医药还有 权收取十余到二十余百分点的梯度销售分成。 3 . 剑桥科技(06166)早盘涨近10%，截至发稿，涨超5% 。消息面上，据媒体报道，Meta正与谷歌进行 深入谈判，考虑从2027年起在自家数据中心大规模采用TPU，潜在采购规模或达数十亿美元。 4. 广和通(00638)早盘一度涨超14%，截至发稿，涨9.29% 。消息面上，据媒体报道，华为常务董事、 终端BG董事长余承东在新品发布会上宣布，推出首款陪聊机器人"智能憨憨"，售价399元，将于11月 28日10 ...

Core Viewpoint - The article discusses the performance of the A-share market, highlighting the fluctuations in major indices and sector performances, particularly in consumer electronics and HBM concepts, while noting the decline in AI applications and certain real estate stocks [3]. Market Performance - As of the midday session, the Shanghai Composite Index rose by 0.49%, the Shenzhen Component Index increased by 0.38%, and the ChiNext Index initially surged over 2% before settling at a 0.56% gain [3]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.09 trillion yuan, a decrease of 466 billion yuan compared to the previous trading day, with over 3,300 stocks rising [4]. Sector Highlights - The consumer electronics sector saw a rise of 2.28%, while the HBM concept led the gains with a 2.62% increase [4]. - The solid-state battery concept also performed well, contributing to the overall positive sentiment in the market [3]. - The AI application sector continued to show weakness, indicating potential challenges in this area [3]. Notable Stocks - In the pork concept sector, stocks like Jin Xin Nong and Tian Yu Bio experienced significant gains, with Jin Xin Nong hitting the daily limit [5]. - Semiconductor stocks such as Huahong Semiconductor and SMIC saw increases of over 5% and 3%, respectively, reflecting strong performance in the tech sector [6]. - New Energy and AI concept stocks also showed strength, with New Yi Sheng rising by 7% and Yangguang Electric Power increasing by nearly 5% [7]. Additional Market Insights - The Hong Kong stock market opened with a slight increase, with the Hang Seng Technology Index expanding its gains [12]. - The People's Bank of China conducted a reverse repurchase operation of 356.4 billion yuan at an interest rate of 1.40%, indicating ongoing liquidity management [13]. - The Chinese yuan appreciated against the US dollar, reaching its highest level since October 2024 [14].

Group 1 - The A-share market saw all three major indices rise, with the Shanghai Composite Index increasing by 0.23%, driven by gains in sectors such as fine chemicals, communication equipment, and precious metals, while insurance and real estate sectors faced declines [1] - The semiconductor sector showed significant strength, with the Chip ETF (159995) rising by 2.20% and key component stocks like Haiguang Information up by 5.07%, Zhaoyi Innovation up by 4.53%, and Cambricon Technologies up by 3.34% [1] Group 2 - According to the latest data from SIA, global semiconductor sales reached $69.47 billion in September, marking a year-on-year increase of 25.1%, with growth exceeding 17% for 17 consecutive months [3] - The production of integrated circuits in September was stable, with global and Chinese production at 131.3 billion and 43.71 billion units, respectively [3] - Tianfeng Securities projects a continued optimistic growth trajectory for the global semiconductor market, driven by AI in downstream applications, with a focus on domestic substitution amid ongoing supply chain risks [3] - The Chip ETF (159995) tracks the National Chip Index, comprising 30 leading companies in the A-share chip industry, including SMIC, Cambricon, Changdian Technology, and Northern Huachuang [3]

东莞证券也指出，随着海内外大模型调用量呈爆发式增长，行业已进入规模化落地阶段，驱动上游算力 需求不断提高。国内AI芯片企业快速发展，国产替代取得阶段性成果，随着摩尔、沐曦等AI芯片企业 加快资本市场布局，叠加腾讯等互联网厂商积极适配国产算力芯片，国产算力生态有望加速形成。 本文源自：智通财经网 智通财经获悉，芯片股早盘走高，截至发稿，华虹半导体(01347)涨5.22%，报76.6港元；中芯国际 (00981)涨4.14%，报71.7港元。 消息面上，中原证券表示，半导体行业2025年延续上行趋势，美国半导体出口管制不断升级，"十五 五"规划建议将科技自立自强水平大幅提高列入"十五五"时期经济社会发展的主要目标，半导体是实现 科技自主的关键领域。展望2026年，AI算力需求持续景气，云侧AI算力硬件基础设施仍处于高速成长 中，AI眼镜、具身智能、智能驾驶等端侧AI创新百花齐放；AI推动半导体周期继续上行，存储器或迎 来超级周期，半导体自主可控有望加速推进。 ...

Core Viewpoint - The Hong Kong technology sector is experiencing a strong rally, driven by multiple favorable factors including increased expectations for Federal Reserve interest rate cuts and improved market liquidity, alongside significant revenue growth in Alibaba's cloud business and a resurgence in AI focus [1]. Group 1: Market Performance - As of November 27, 2025, the CSI Hong Kong Stock Connect Technology Index (931573) has seen a strong increase, with notable gains in constituent stocks such as Huahong Semiconductor (up 5.36%), Kangfang Biotech (up 4.89%), and Li Auto (up 3.87%) [1]. - The Hong Kong Technology ETF (159751) has risen by 0.73%, marking its fourth consecutive increase, with the latest price reported at 1.1 HKD [1]. Group 2: Influencing Factors - The recent rally in the Hong Kong technology sector is attributed to the anticipated easing of monetary policy by the Federal Reserve, which is expected to enhance liquidity in the market [1]. - The combination of the Federal Reserve's halt on balance sheet reduction and the relaxation of SLR regulations is expected to limit liquidity pressure in the medium term [1]. Group 3: Index Composition - The CSI Hong Kong Stock Connect Technology Index comprises 50 large-cap technology companies with high R&D investment and revenue growth, reflecting the overall performance of leading technology stocks within the Hong Kong Stock Connect [1]. - As of October 31, 2025, the top ten weighted stocks in the index include Alibaba-W, Tencent Holdings, and SMIC, collectively accounting for 66.81% of the index [2].

华西证券最新观点认为， AI芯片国产化进程是长期必然趋势，当前时点是国产芯片发展最佳时机。持 续看好包括先进制程制造、芯片架构升级对整体国产算力水平的拉动，有望推动国产算力份额持续提 升。 来源：新浪基金 11月27日早盘，港股芯片半导体产业链持续上行，恒生科技指数涨近1%，华虹半导体大涨逾5%，中芯 国际、建滔积层板涨超4%，鸿腾精密、美图公司、小米集团等多股涨超3%。全市场首只聚焦"港股芯 片"产业链的港股信息技术ETF（159131）场内价格现涨2.26%冲击三连涨，进一步确认触底回升形态， 截至发稿实时成交额超3300万元。 | | | 分时 多日 1分 5分 30分 60分 日 简 月 · | | | | F9 盘前盘后 叠加 九环 图线 工具 @ 0 > | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0351 | | | | 159131]随段偏电技术ETF] 1005 价 0951 游戏 (1021(226) 48的 0.942 威安量 8134 TOPV 0.948 ...

11月27日早盘，港股芯片半导体产业链持续上行，恒生科技指数涨近1%，华虹半导体大涨逾5%，中芯 国际、建滔积层板涨超4%，鸿腾精密、美图公司、小米集团等多股涨超3%。全市场首只聚焦"港股芯 片"产业链的港股信息技术ETF（159131）场内价格现涨2.26%冲击三连涨，进一步确认触底回升形 态，截至发稿实时成交额超3300万元。 | | | 分野 多日 1分 5分 15分 30分 60分 日 周 月 · | | | | | F9 盘前盘后 叠加 九转 画线 工机 @ 2 >> | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0.951 | | | | 159131[8股信息技术ETF] 10:05 价 0.951 落跌 0.021(2.26%) 均价 0.942 成交量 8134 IOPV 0.9481 | | | | ு 2,263 | | 0 957 +0.021 +2.26% | | | 0.941 | | 17 | | | | | | 1.13% | SZSE CNY 10:0 ...

每经AI快讯，港股芯片股早盘走高。截至发稿，华虹半导体(01347.HK)涨5.22%，报76.6港元；中芯国 际(00981.HK)涨4.14%，报71.7港元。 （文章来源：每日经济新闻） ...