| 代码 | 简称 | 成交金额（万港元） | 成交净买入（万港元） | 今日涨跌幅（%） | | --- | --- | --- | --- | --- | | 02800 | 盈富基金 | 755024.68 | 728201.07 | -1.56 | | 02828 | 恒生中国企业 | 220847.96 | 213456.66 | -1.44 | | 01347 | 华虹半导体 | 820529.82 | 134769.54 | 8.01 | | 01810 | 小米集团-W | 1532266.32 | 88813.16 | -5.71 | | 03690 | 美团-W | 350210.90 | 80655.18 | -1.87 | | 00763 | 中兴通讯 | 347421.74 | 72439.34 | 2.95 | | 03888 | 金山软件 | 193184.05 | 28616.94 | 13.82 | | 02269 | 药明生物 | 112384.13 | -26781.12 | -4.75 | | 01801 | 信达生物 | 109766.62 | -51510.54 | ...

Group 1 - The article highlights that 30 stocks experienced a net inflow of over 2 billion yuan, with Baotou Steel leading at a net inflow of 2.436 billion yuan [1] - China Software follows in second place with a net inflow of 1.451 billion yuan [1] - Other notable stocks with significant net inflows include Northern Rare Earth, Huayou Cobalt, and SMIC [1] Group 2 - On the other hand, BYD saw the highest net outflow of funds, totaling 1.176 billion yuan [1] - Sirius and Dongfang Wealth ranked second and third in net outflows, with 922 million yuan and 892 million yuan respectively [1]

Investment Rating - The report assigns an "Accumulate" rating to the company, SMIC (688981.SH), with a target price of 146.45 CNY and a target market value of 1,171.597 billion CNY for 2025, based on a 7.6 times PB valuation [5][19]. Core Insights - SMIC is positioned as the leading wafer foundry in mainland China, with advanced process technology that is domestically leading. The company has a production capacity covering 350-7nm process nodes and has made breakthroughs equivalent to 5nm technology [5][19]. - The semiconductor market is expected to recover, driven by AI and a resurgence in consumer electronics demand, with global semiconductor market size projected to grow from 679 billion USD in 2025 to 1,061 billion USD by 2030, reflecting a 5-year CAGR of 9% [2][13]. - The company is focusing on expanding its advanced process capacity, particularly in the 7/5/3nm nodes, which are expected to significantly increase its market share and revenue potential [2][19]. Financial Projections - Revenue projections for SMIC from 2025 to 2027 are estimated at 699.24 billion CNY, 798.12 billion CNY, and 925.16 billion CNY, respectively. Corresponding net profits are projected at 59.67 billion CNY, 66.92 billion CNY, and 81.85 billion CNY [4][19]. - The company’s revenue growth rates are expected to be 21% in 2025, 14% in 2026, and 15.9% in 2027, indicating a strong recovery trajectory following a downturn in 2023 [4][19]. Market Position and Competitive Advantage - SMIC is the largest wafer foundry in mainland China, with a global market share projected to increase from 5.3% in 2023 to 6% in 2024, moving up to the third position globally [5][19]. - The company has a significant capacity for mature processes, with over 90% of its production currently in this category, but it also has substantial room for expansion in advanced processes [36][19]. Industry Trends - The semiconductor industry is entering a new growth cycle driven by AI and technological innovation, with a notable increase in demand for advanced integrated circuits [2][13]. - The global market for 7nm and below processes is expected to be nearly double that of mature processes, highlighting the importance of advanced technology in future growth [2][19]. Operational Efficiency - SMIC has been increasing its capital expenditures significantly, from 140.22 billion CNY in 2019 to 539.13 billion CNY, which is expected to enhance its production capabilities and operational efficiency [15][42]. - The EBITDA margin has shown a stable upward trend, indicating improved core profitability despite fluctuations in gross and net margins due to rising depreciation costs [43][42].

深港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 96.88 亿元 | +5.54 亿元 | | 小米集团-W(01810) | 61.89 亿元 | +7.61 亿元 | | 中芯国际(00981) | 50.50 亿元 | +12.86 亿元 | | 腾讯控股(00700) | 44.69 亿元 | +8.63 亿元 | | 华虹半导体(01347) | 30.38 亿元 | +5.60 亿元 | | 盈富基金(02800) | 21.28 亿元 | +20.75 亿元 | | 美团-W(03690) | 14.36 亿元 | +5.12 亿元 | | 中兴通讯(00763) | 13.68 亿元 | +2.97 亿元 | | 药明生物(02269) | 11.24 亿元 | -2.68 亿元 | | 信达生物(01801) | 10.98 亿元 | -5.15 亿元 | 沪港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴- ...

Group 1 - Southbound funds net bought Hong Kong stocks worth 19.804 billion HKD today [1] - The top net purchases included: - Tracker Fund of Hong Kong: 7.282 billion HKD - Hang Seng China Enterprises: 2.135 billion HKD - Hua Hong Semiconductor: 1.348 billion HKD - Xiaomi Group-W: 0.888 billion HKD - Meituan-W: 0.806 billion HKD - ZTE Corporation: 0.724 billion HKD - Kingsoft Corporation: 0.286 billion HKD [1] - The top net sales included: - Tencent Holdings: 2.445 billion HKD - Alibaba Group-W: 1.624 billion HKD - SMIC: 0.523 billion HKD - Innovent Biologics: 0.515 billion HKD - WuXi Biologics: 0.267 billion HKD [1] Group 2 - Southbound funds have net bought Xiaomi for six consecutive days, totaling 4.70897 billion HKD [1] - Southbound funds have net bought ZTE Corporation for three consecutive days, totaling 1.67286 billion HKD [1] - Southbound funds have net sold SMIC for three consecutive days, totaling 5.62891 billion HKD [1] - Southbound funds have net sold Alibaba for three consecutive days, totaling 4.18416 billion HKD [1] - Southbound funds have net sold Tencent for three consecutive days, totaling 3.85962 billion HKD [1]

智通财经APP获悉，10月13日港股市场，北水成交净买入198.04亿港元，其中港股通(沪)成交净买入75.98亿港元，港股通 (深)成交净买入122.06亿港元。 北水净买入最多的个股是盈富基金(02800)、恒生中国企业(02828)、华虹半导体(01347)。北水净卖出最多的个股是腾讯 (00700)、阿里巴巴-W(09988)、中芯国际(00981)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W | 102.16亿 | 123.94 乙 | 226.10亿 | | HK 09988 | | | -21.78 乙 | | 中芯国际 | 54.30 乙 | 72.40 乙 | 126.70亿 | | HK 00981 | | | -18.10 Z | | 小米集团-W | 46.30 乙 | 45.03亿 | 91.33 亿 | | HK 01810 | | | +1.28 乙 | | 腾讯控股 | 29.11 乙 | 62.19 Z | 91.30 亿 | | HK 00700 | | | -3 ...

南财投研通数据显示，10月6日至10月12日，券商给予上市公司目标价共35次，按最新收盘价计算，目标价涨幅排名居前的公司 有中芯国际、稳健医疗、统联精密，目标价涨幅分别为86.01%、41.99%、38.96%，分别属于半导体、个护用品、消费电子行 业。 | 600000 | 浦发银行 | 中信建投证券 | 买入 | 15.00 | 26.69 | | --- | --- | --- | --- | --- | --- | | 600567 | 山鹰国际 | 国泰海通证券 | 增持 | 2.32 | 25.41 | | 301611 | 珂玛科技 | 国元证券 | 买入 | 76.00 | 23.14 | | 002594 | 比亚迪 | 中信证券 | 买入 | 132.00 | 22.46 | | 002025 | 航天电器 | 中信证券 | 买入 | 60.00 | 21.75 | | | | | 日期:10月06日至10月12日,南财投研通×南财快讯制图 | | | 从券商推荐家数来看，10月6日至10月12日有128家上市公司得到券商推荐，其中浦发银行、比亚迪、赛力斯均获得3家推荐。 首次覆盖方面，1 ...

截至10月13日收盘，中芯国际概念上涨3.03%，位居概念板块涨幅第5，板块内，51股上涨，新莱应材 20%涨停，有研新材、至纯科技、安泰科技等涨停，灿芯股份、江丰电子、华特气体等涨幅居前，分别 上涨19.80%、14.54%、12.52%。跌幅居前的有巨化股份、圣晖集成、德明利等，分别下跌4.66%、 4.41%、3.54%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 稀土永磁 | 6.92 | 同花顺果指数 | -3.67 | | 兵装重组概念 | 3.51 | 短剧游戏 | -2.02 | | 光刻机 | 3.20 | 减速器 | -2.01 | | 国家大基金持股 | 3.18 | AI PC | -1.89 | | 中芯国际概念 | 3.03 | 汽车热管理 | -1.86 | | 2025三季报预增 | 2.98 | 小米汽车 | -1.80 | | 金属钴 | 2.91 | 同花顺出海50 | -1.73 | | 超导概念 | 2.87 | Sora概念(文生视频) | -1.68 | | ...

据悉，全市场首只跟踪中证港股通信息技术综合指数（930977）的ETF产品——华宝基金旗下的中证港 股通信息技术综合指数ETF今日获批并即将发行。 据中证指数公司官网信息，中证港股通信息技术综合指数的编制方法为通过流通市值加权方法选取中证 港股通综合指数中一级行业"信息技术"的相关成分股，单个样本权重不超过 15%，其前十大成份股纳入 中芯国际、小米集团、联想集团、舜宇光学、商汤等。 华宝中证港股通信息技术综合ETF将支持"T+0"日内回转交易。据Wind统计，截至2025年9月末，华宝 基金旗下权益类ETF资产管理规模已达1266.25亿元，在同业中排名领先。在目前41只规模超百亿元的A 股/港股行业主题ETF中，华宝基金独占5只，这5只ETF最新规模合计高达1002.66亿元，是目前拥有百 亿规模A股/港股行业主题ETF数量最多的基金公司之一。 据Wind统计，截至2025年9月15日，中证港股通信息技术综合指数的成分股共41只，其前十大成份股权 重合计占比68.35%，重点配置港股半导体、电子、计算机软件板块。2023年以来截至今年9月15日，中 证港股通信息技术综合指数年化收益率达28.01%，明显高 ...

大盘仍有继续上行空间：从9月份的市场环境来看，海外方面，美国经济维持韧性，8月标普PMI显著好于预期，美联储主席态度转鸽释放9月降息信号；美 国总统罢免美联储理事，"央行独立性"遭前所未有挑战；此外，中美瑞典经贸会谈如期宣布将关税缓和期延长，美国已于8月初开始执行对其他贸易伙伴 的"对等关税"，其中包含更高的转口关税。国内方面，7月经济放缓，消费投资地产同步降温，考虑到下半年出口存在明显降温压力，在当前消费和投资内 需也同步偏弱的背景下，政策或迎来加码信号。 主力净流入行业板块前五：半导体，锂电池，新能源汽车，稀土磁材，有色金属； 主力净流入概念板块前五：国产芯片，国企改革，华为产业链，人工智 能，央企改革； 主力净流入个股前十：北方稀土、海南华铁、华友钴业、胜宏科技、中芯国际、赣锋锂业、南大光电、江丰电子、金山办公、金力永磁 华为全联接大会召开，公司首次明确披露昇腾系列AI芯片规划，预计2026年Q1推出昇腾950PR，Q4推出昇腾950DT，2027、2028年Q4分别推出昇腾960、 970；超节点方面，华为开创的灵衢新型互联协议，支撑万卡超节点架构，灵衢2.0技术规范现已开放，公司正开发Atlas 9 ...