截至月份: 2025年10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: 中芯國際集成電路製造有限公司 呈交日期: 2025年11月5日 I. 法定/註冊股本變動 | 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) | 00981 | 說明 | 無 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 | 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 ...

Core Viewpoint - The integrated circuit ETF (159546) opened with a decline of 2.02%, indicating a bearish trend in the sector [1] Group 1: ETF Performance - The integrated circuit ETF (159546) opened at 1.795 yuan [1] - Since its establishment on October 11, 2023, the fund has achieved a return of 82.41% [1] - The fund has experienced a decline of 9.04% over the past month [1] Group 2: Major Holdings Performance - Major stocks within the ETF showed significant declines, including: - SMIC down 2.49% [1] - Cambricon down 3.33% [1] - Haiguang Information down 2.54% [1] - Lattice Semiconductor down 3.74% [1] - GigaDevice down 5.33% [1] - OmniVision down 2.07% [1] - Chipone down 1.41% [1] - JCET down 3.16% [1] - Unisoc down 2.46% [1] - Tongfu Microelectronics down 3.35% [1]

Core Viewpoint - SMIC's stock price has shown volatility, with a year-to-date increase of 24.16% but a recent decline of 11.67% over the past five trading days, indicating potential market fluctuations and investor sentiment shifts [2]. Financial Performance - For the first half of 2025, SMIC reported revenue of 32.348 billion yuan, a year-on-year increase of 23.14%, and a net profit attributable to shareholders of 2.301 billion yuan, reflecting a growth of 39.76% [3]. - The company's main business revenue composition is 93.83% from integrated circuit wafer foundry services and 6.17% from other services [2]. Stock Market Activity - As of November 5, SMIC's stock price was 117.48 yuan per share, with a market capitalization of 939.848 billion yuan. The trading volume was 1.158 billion yuan, with a turnover rate of 0.49% [1]. - There was a net outflow of 97.6621 million yuan in principal funds, with significant buying and selling activity from large orders [1]. Shareholder Information - As of June 30, 2025, SMIC had 252,300 shareholders, a decrease of 2.20% from the previous period, with an average of 8,223 circulating shares per shareholder, an increase of 2.26% [3]. - Major institutional shareholders include various ETFs, with notable increases in holdings from several funds [3].

Market Performance - The Hong Kong stock market indices experienced a decline, with the Hang Seng Index falling by 0.79%, the Hang Seng Tech Index down by 1.76%, and the National Enterprises Index decreasing by 0.92% [1] - Gold stocks saw significant drops, with Tongguan Gold and Lingbao Gold falling over 6%, Zijin Mining and Chifeng Jilong Gold down over 5%, Zhaojin Mining down over 4%, and Zijin Gold International down over 2% [1] Capital Flow - Southbound funds recorded a net purchase of Hong Kong stocks amounting to 9.832 billion HKD, with the Shanghai-Hong Kong Stock Connect contributing 5.202 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 4.630 billion HKD [1] - China National Offshore Oil Corporation, Xiaomi Group-W, and China Mobile received net purchases of 1.046 billion HKD, 1.002 billion HKD, and 753 million HKD respectively [2] - Alibaba-W, Sunny Optical Technology, and SMIC faced net sales of 868 million HKD, 325 million HKD, and 234 million HKD respectively [2] Regulatory Changes - Starting from August 19, 2024, the Shanghai and Shenzhen Stock Exchanges will adjust the information disclosure mechanism for the Shanghai-Shenzhen-Hong Kong Stock Connect, which will include daily disclosures of total trading amounts and active securities [3]

Core Viewpoint - The Sci-Tech Innovation Board (STAR Market) has evolved into a preferred platform for "hard technology" companies in China, supporting high-level technological self-reliance and innovation since its establishment seven years ago [1][2]. Group 1: Growth and Development of STAR Market - The STAR Market has seen over 590 companies listed, raising more than 900 billion yuan through IPOs, including various special types of enterprises [2][3]. - The STAR Market has become the primary domestic financing platform for many technology companies that previously could not meet profitability requirements for listing abroad [3][4]. - The introduction of the "1+6" reform policy has led to the establishment of the Sci-Tech Growth Layer, allowing more companies to access capital markets [4][6]. Group 2: Financial Performance and R&D Investment - Companies in the Sci-Tech Growth Layer reported a 35.1% year-on-year increase in revenue, while net profit losses decreased by 45.4%, with a median R&D intensity of 44.3% [5]. - The STAR Market has facilitated significant financing activities, with 18 new IPO applications and nearly 150 industry mergers and acquisitions since the "1+6" policy was introduced [6]. Group 3: Support for Emerging Industries - The STAR Market is expanding its support for emerging industries, including artificial intelligence and commercial aerospace, by allowing more companies to meet the fifth set of listing standards [7]. - The expansion of the fifth set of standards is expected to attract more technology-driven companies to the STAR Market, enhancing their access to long-term funding [7].

Core Insights - Southbound capital has significantly increased its holdings in the Hong Kong stock market, marking it as the largest source of incremental funds this year, with a cumulative net inflow exceeding 1.27 trillion HKD, a historical high [1][4] - The Hong Kong stock market has performed well this year, with the Hang Seng Index and Hang Seng Tech Index rising over 29% and 30% respectively as of November 4 [1][6] - Despite recent market fluctuations, analysts believe that the Hong Kong market is primarily driven by liquidity, with potential for substantial upward movement in the medium to long term [1][7] Southbound Capital Inflows - As of November 4, 2023, southbound capital has recorded a cumulative net inflow of 12,753.21 billion HKD this year, more than double the amount from the same period in 2024, with a single-day record inflow of 358.76 billion HKD on August 15 [1][4] - In 198 trading days this year, there were net inflow days on 166 occasions, accounting for over 80% [1] - Monthly net inflows have consistently exceeded 110 billion HKD in several months, including January through April, July, August, and September [1] Holdings and Sector Preferences - As of November 3, 2023, southbound capital held 5,525.19 billion shares, an increase of 867.34 billion shares since the beginning of 2025, with a market value of 6.29 trillion HKD, up 2.71 trillion HKD [2] - The financial, information technology, and consumer discretionary sectors have the highest holdings, valued at 15,135.25 billion HKD, 13,086.04 billion HKD, and 8,918.34 billion HKD respectively [2] - Major stock holdings include Tencent Holdings over 650 billion HKD, Alibaba-W over 360 billion HKD, and several banks and energy companies exceeding 200 billion HKD [2] Recent Buying Trends - The most significant increases in holdings this year have been in China Construction Bank, Bank of China, and other major banks, with increases of 68.96 billion shares, 52.02 billion shares, and 50.27 billion shares respectively [3] - In the past month, the financial, energy, and communication services sectors saw the highest net buying amounts, with 255.73 billion HKD, 112.20 billion HKD, and 95.67 billion HKD respectively [4] Company Buybacks - As of November 3, 2023, Hong Kong-listed companies have repurchased over 1,460 billion HKD worth of shares, with 239 companies participating in buybacks this year [5] - Tencent Holdings leads in buyback scale with 609.65 billion HKD, followed by HSBC and AIA with 302.57 billion HKD and 176.93 billion HKD respectively [5] - The buyback trend is particularly strong in the technology and financial sectors, with notable increases in consumer companies as well [5] Market Performance and Outlook - The Hong Kong stock market has shown strong performance this year, with all industry sectors experiencing gains, particularly materials, healthcare, and information technology [6] - The Hang Seng Index's rolling P/E ratio has increased from 8.96 to 11.89, indicating a potential for valuation recovery [6] - Analysts suggest that the market may continue to experience fluctuations in the short term but has significant upward potential in the medium to long term due to favorable liquidity conditions and ongoing capital inflows [7]

Core Insights - The Sci-Tech Innovation Board (STAR Market) has evolved into a preferred platform for "hard technology" companies in China, supporting their listing and financing needs since its establishment seven years ago [1][2] - The board has seen over 590 companies listed, raising more than 900 billion yuan, including various types of enterprises that previously struggled to meet profitability requirements [2][3] - Recent reforms, including the introduction of the "1+6" policy, have enhanced the board's inclusivity and adaptability, allowing more companies, especially those in emerging industries, to access capital [3][4] Group 1: Growth and Development - The STAR Market has become a key driver for the growth of strategic emerging industries, with a focus on sectors like integrated circuits, where over 120 companies are listed [2][4] - The board's reforms have led to a significant increase in IPO applications and mergers, with nearly 150 new transactions reported since the "STAR Market Eight Articles" policy was introduced [4][5] - Companies listed on the STAR Market have shown improved innovation capabilities, with a median R&D intensity of 44.3% among the newly registered firms [3] Group 2: Financial Performance - In the first three quarters of the year, companies in the STAR Market's growth layer reported a 35.1% increase in revenue while reducing net losses by 45.4% [3] - The STAR Market has successfully attracted long-term capital, with over 100 ETFs listed and a total index product scale exceeding 330 billion yuan [5] - The board's supportive measures for sectors like artificial intelligence and commercial aerospace are expected to further enhance its appeal to technology-driven enterprises [5]

Core Insights - The Hang Seng Index fell by 0.79% on November 4, with southbound trading totaling HKD 1000.97 billion, including HKD 549.64 billion in buying and HKD 451.32 billion in selling, resulting in a net inflow of HKD 98.32 billion [1] Trading Activity - The most actively traded stock by southbound funds was Alibaba-W, with a total trading amount of HKD 74.27 billion, followed by SMIC and Xiaomi Group-W with HKD 42.55 billion and HKD 36.09 billion respectively [1] - In terms of net buying, China National Offshore Oil Corporation (CNOOC) led with a net inflow of HKD 10.46 billion, while Xiaomi Group-W and China Mobile had net inflows of HKD 10.02 billion and HKD 7.53 billion respectively [1] - The stocks with the highest net selling were Alibaba-W, with a net outflow of HKD 8.68 billion, followed by Sunny Optical Technology and SMIC with net outflows of HKD 3.25 billion and HKD 2.34 billion respectively [1] Continuous Net Buying/Selling - Among the stocks, CNOOC and Xiaomi Group-W were notable for continuous net buying, with Xiaomi Group-W having a total net inflow of HKD 29.15 billion over five days, and CNOOC with HKD 26.49 billion over four days [2] - Conversely, SMIC, Alibaba-W, and Tencent Holdings experienced continuous net selling, with total net outflows of HKD 23.26 billion, HKD 21.89 billion, and HKD 21.63 billion respectively [2]

Market Overview - On November 4, the Hang Seng Index fell by 0.79%, closing at 25,952.40 points, while southbound funds through the Stock Connect recorded a net purchase of HKD 9.832 billion [1] Trading Activity - The total trading volume for the Stock Connect on November 4 was HKD 100.097 billion, with a net purchase of HKD 9.832 billion. Specifically, the Shanghai Stock Connect had a trading volume of HKD 61.300 billion and a net purchase of HKD 5.202 billion, while the Shenzhen Stock Connect had a trading volume of HKD 38.796 billion and a net purchase of HKD 4.631 billion [1] Active Stocks - In the Shanghai Stock Connect, Alibaba-W had the highest trading volume at HKD 44.666 billion, followed by SMIC and Xiaomi Group-W with trading volumes of HKD 26.778 billion and HKD 22.200 billion, respectively. In terms of net buying, Xiaomi Group-W led with a net purchase of HKD 0.908 billion, despite its closing price dropping by 2.91%. Conversely, Alibaba-W experienced the highest net selling at HKD 0.586 billion, with a closing price decline of 2.57% [1] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, Alibaba-W also topped the trading volume with HKD 29.600 billion, followed by Tencent Holdings and SMIC with trading volumes of HKD 17.460 billion and HKD 15.760 billion, respectively. Tencent Holdings saw the highest net purchase of HKD 0.379 billion, with a slight closing price increase of 0.16%. The stock with the highest net selling was Sunny Optical Technology, which had a net selling amount of HKD 0.325 billion, closing down by 4.59% [2]

Group 1 - The Hang Seng Index opened down 0.04% [1] - The Hang Seng Tech Index decreased by 0.19% [1] - Hengan International fell over 4% [1] - Zijin Mining dropped more than 2% [1] - SMIC (Semiconductor Manufacturing International Corporation) rose over 1% [1]