| 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 25.32 亿元 | +8733.76 万元 | | 小米集团-W(01810) | 20.44 亿元 | +3.49 亿元 | | 长飞光纤光缆(06869) | 17.85 亿元 | +2.51 亿元 | | 中国移动(00941) | 14.10 亿元 | -8.13 亿元 | | 腾讯控股(00700) | 13.48 亿元 | -2.61 亿元 | | 中国海洋石油(00883) | 13.09 亿元 | -2.25 亿元 | | 中芯国际(00981) | 11.32 亿元 | -3627.61 万元 | | 盈富基金(02800) | 10.27 亿元 | -10.22 亿元 | | 中金公司(03908) | 9.47 亿元 | -1033.08 万元 | | 农业银行(01288) | 6.37 亿元 | +2.12 亿元 | 深港通（南向）十大活跃成交公司 智通财经APP获悉，2025年12月18日当天，阿里巴巴-W(09988)、小米集团-W(01810)、长飞光纤光 ...

港股通(深)活跃成交股 小米集团-W(01810)获净买入9.03亿港元。消息面上，高盛发表研究报告指，小米正快速发展其人工智能基础设施与应用 能力，并崛起为顶级的开源模型开发者，将加速其"人、车、家全生态"的智能化整合。该行继续预期小米会带来更多人工 智能相关成果，并将人工智能应用拓展至其不断扩大的生态系统。 智通财经APP获悉，12月18日港股市场，北水成交净买入12.57亿港元，其中港股通(沪)成交净卖出10.95亿港元，港股通 (深)成交净买入23.53亿港元。 北水净买入最多的个股是小米集团-W(01810)、美团-W(03690)、长飞光纤光缆(06869)。北水净卖出最多的个股是盈富基金 (02800)、中国移动(00941)、中海油(00883)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W | | | 25.32 乙 | | HK 09988 | 13.10亿 | 12.23亿 | +8733.76万 | | 小米集团-W | 11.96亿 | 8.48 亿 | 20.44 Z | ...

智通财经APP获悉，12月18日港股市场，北水成交净买入12.57亿港元，其中港股通(沪)成交净卖出10.95亿港元，港股通 (深)成交净买入23.53亿港元。 北水净买入最多的个股是小米集团-W(01810)、美团-W(03690)、长飞光纤光缆(06869)。北水净卖出最多的个股是盈富基金 (02800)、中国移动(00941)、中海油(00883)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W | | | 25.32 乙 | | HK 09988 | 13.10亿 | 12.23亿 | +8733.76万 | | 小米集团-W | 11.96亿 | 8.48 亿 | 20.44 Z | | HK 01810 | | | +3.49 乙 | | 长飞光纤 ... | 10.18 乙 | 7.67亿 | 17.85亿 | | HK 06869 | | | +2.511Z | | 中国移动 | 2.99亿 | 11.12 乙 | 14.10 亿 | | HK 00941 | | | -8.13 亿 | ...

Group 1 - The Hong Kong stock market has stabilized, maintaining a narrow range around the mid-axis during the morning session, with slight gains in consumer and technology sectors, while the internet and healthcare sectors experienced a downturn [1] - The consumer sector showed signs of recovery, with a slight increase of 0.32% by midday, driven by stocks such as Li Ning up 4.37%, Shenzhou International up 2.26%, and several others like Stone Pharmaceutical, Lao Pu Gold, WuXi Biologics, and Pop Mart all rising over 1% [3] - The technology sector also saw a minor increase of 0.14% by midday, with Meituan up 1.21%, while major players like JD Group, Alibaba, Tencent Holdings, and SMIC posted slight gains; however, BYD and NetEase faced minor declines [3] Group 2 - The healthcare sector had a lackluster performance, with Stone Pharmaceutical up 1.9% and WuXi Biologics up 1.68%, while other stocks like BeiGene, Innovent Biologics, and 3SBio saw slight increases; in contrast, companies like CanSino Biologics, China Biologic Products, JD Health, and Hansoh Pharmaceutical experienced minor declines [3]

Group 1 - The integrated circuit ETF (562820) opened down 0.88% at 2.148 yuan [1] - Major holdings in the ETF showed mixed performance, with notable declines in stocks like Cambrian (down 1.19%), SMIC (down 0.43%), and Haiguang Information (down 0.99%), while Zhaoyi Innovation increased by 0.65% [1] - The ETF's performance benchmark is the CSI All Share Integrated Circuit Index, managed by Harvest Fund Management, with a return of 117.04% since its inception on April 12, 2024, and a recent one-month return of -0.48% [1]

Group 1 - The core viewpoint of the article highlights the performance of the Invesco Chip ETF (159560), which opened down by 1.06% at 1.584 yuan on December 18 [1] - The major holdings of the ETF include companies such as SMIC, Cambricon, and Huagong Information, with varying performance; for instance, SMIC decreased by 0.43%, while Zhaoyi Innovation increased by 0.65% [1] - The ETF's performance benchmark is the CSI Chip Industry Index return, managed by Invesco Great Wall Fund Management Company, with a return of 60.58% since its establishment on November 9, 2023, and a return of 0.60% over the past month [1]

Core Viewpoint - The chip ETF Tianhong (159310) opened with a slight decline, reflecting the overall performance of its major holdings in the semiconductor sector [1] Group 1: ETF Performance - The chip ETF Tianhong (159310) opened down by 0.25%, priced at 1.993 yuan [1] - Since its establishment on April 18, 2024, the fund has achieved a return of 99.96%, with a monthly return of 0.58% [1] Group 2: Major Holdings Performance - Major holdings in the ETF include: - SMIC (中芯国际) down by 0.43% - Cambricon (寒武纪) down by 1.19% - Haiguang Information (海光信息) down by 0.99% - Northern Huachuang (北方华创) down by 0.84% - Lattice Semiconductor (澜起科技) down by 0.79% - Zhaoyi Innovation (兆易创新) up by 0.65% - Zhongwei Company (中微公司) down by 1.13% - OmniVision (豪威集团) down by 0.60% - Chipone (芯原股份) down by 1.45% - JCET (长电科技) down by 0.92% [1]

Market Overview - The Hang Seng Index opened lower by 0.54%, closing at 25,330.83, down 137.95 points [2] - The Hang Seng Tech Index fell by 1.11%, reaching 5,397.34 [2] - The Hang Seng China Enterprises Index decreased by 0.62%, ending at 8,788.92 [2] - The Hang Seng Composite Index dropped by 0.48%, closing at 3,872.27 [2] Sector Performance - Most technology stocks experienced a pullback, with SenseTime down over 3%, and Xiaomi Group and Xpeng Motors both declining over 2% [2] - Alibaba saw a decrease of nearly 2%, while Kuaishou, Baidu Group, SMIC, NetEase, and JD Group also fell [2] Notable Stock Movements - SenseTime (1.900) decreased by 3.55% [3] - Xpeng Motors (70.600) fell by 2.35% [3] - Xiaomi Group (40.380) dropped by 2.04% [3] - Alibaba (143.100) declined by 1.99% [3] - Li Auto (63.000) decreased by 1.72% [3] - Kuaishou (64.100) fell by 1.69% [3] - Baidu Group (116.900) decreased by 1.43% [4] - SMIC (64.000) dropped by 1.16% [4] - JD Group (111.400) fell by 0.80% [4] Company News - China International Capital Corporation (CICC) saw a rise of over 7% following the announcement of a stock swap merger with Dongxing Securities and Xinda Securities [4]

Group 1 - The International Semiconductor Industry Association (SEMI) predicts that global semiconductor manufacturing equipment sales will reach $133 billion in 2025, a 13.7% increase year-on-year, driven primarily by investments related to artificial intelligence [1] - The wafer fabrication equipment (WFE) sector is expected to set a record of $104 billion in 2024, with a projected growth of 11.0% to $115.7 billion in 2025, supported by stronger-than-expected investments in DRAM and HBM [1] - China is expected to maintain its leading position in semiconductor manufacturing equipment sales through 2027, despite a slowdown in growth, with local chip manufacturers continuing to invest in mature processes and some advanced nodes [1] Group 2 - Galaxy Securities emphasizes that the long-term development logic of the semiconductor sector remains unchanged, with supply chain security and self-sufficiency being key trends [2] - Open Source Securities notes that the demand for semiconductor equipment is strongly determined by the acceleration of storage expansion, with China's storage capacity expected to reach 1 million wafers per month by 2030, accounting for about 20% of global capacity [2] - The trend towards localization in advanced logic is clear, with capital expenditures expected to grow at a compound annual growth rate of over 35% in the next three years, further driving equipment investment [2] Group 3 - The semiconductor equipment ETF (561980) tracks the China Securities Semiconductor Index, focusing on key upstream sectors such as equipment, materials, and design, with over 90% of its composition in these areas [3] - As of December 17, the China Securities Semiconductor Index has seen a year-to-date increase of over 58%, outperforming similar semiconductor indices, indicating strong resilience in the upcoming semiconductor upcycle [3] Group 4 - On December 17, the market opened lower but closed higher, with the semiconductor equipment ETF (561980) rising by 2.21% and attracting a net inflow of approximately 6 million yuan, bringing its latest scale to 2.509 billion yuan [5]

Group 1 - Advanced process: Demand recovery, AI and mainstream consumption drive high growth [3][30] - Global foundry market revenue is expected to grow YoY by 27% in 2025, driven by GPU/ASIC demand and stable consumer electronics orders [6][30] - The advanced process segment is experiencing a significant increase in wafer consumption due to the complexity of high-end chips [7][9] Group 2 - Mature process: Strong expansion, localization, and specialty processes seek incremental growth [3][30] - Chinese fabs are benefiting from the recovery in consumption, with some wafer manufacturing prices increasing, indicating a shift away from price competition [31][33] - By 2030, China's mature process capacity is expected to exceed half of the global market share [34][41] Group 3 - Key targets and valuations: SMIC is maintaining an aggressive expansion pace, with plans for new factories and increased monthly capacity [55] - The domestic AI chip market in China is projected to grow over 60% by 2026, with local companies increasing their market share significantly [18][20] - The local supply chain is expected to strengthen as international IDM companies collaborate with domestic fabs, enhancing their technological capabilities [42][47]