Investment Rating - The report rates the semiconductor industry as "Outperform" compared to the market [1] Core Insights - The global semiconductor market is projected to reach USD 659.1 billion in 2024, with a year-on-year growth of 20.0%, and is expected to grow to USD 789.3 billion in 2025 [2][13] - Integrated circuits will account for the largest share of the market at 73.9% in 2024, while artificial intelligence chips are anticipated to grow the fastest at 49.3% [2][13] - The report identifies four key future development directions for the semiconductor industry: third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory [2] Summary by Sections 1. Semiconductor Market Analysis - The global semiconductor market is expected to grow significantly, with integrated circuits leading the market share [13][15] - The Chinese semiconductor market is projected to reach USD 1,769 billion in 2024, with a year-on-year growth of 15.9% [15][17] 2. Historical Development of the Semiconductor Industry - The semiconductor industry has evolved through four major phases, driven by technological advancements and market demands [20][22] - The current phase is characterized by AI technology and data centers driving growth [22][23] 3. Semiconductor Industry Chain - The semiconductor industry chain consists of upstream (EDA/IP, semiconductor equipment, materials), midstream (design, wafer manufacturing, packaging), and downstream (packaging and testing) segments [64][73] - The report highlights the importance of domestic companies in advancing technology and achieving breakthroughs in core areas [2][64] 4. Future Development Directions - The report emphasizes the potential of third-generation semiconductor materials, computing chips, RF communication chips, and high-bandwidth memory as key growth areas [2][4]

来源：新浪证券-红岸工作室 2、2025年9月12日互动易：公司代工MCU芯片和特殊存储芯片。 3、中芯国际是中国内地技术最先进、配套最完善、规模最大、跨国经营的集成电路制造企业集团。 4、中芯国际集成电路制造有限公司的主营业务是基于多种技术节点和技术平台的集成电路晶圆代工业 务，并提供设计服务与IP支持、光掩模制造等配套服务。公司的主要产品是集成电路晶圆代工、设计服 务与IP支持、光掩模制造。根据全球各纯晶圆代工企业最新公布的2024年销售额情况，中芯国际位居全 球第二，在中国大陆企业中排名第一。 (免责声明：分析内容来源于互联网，不构成投资建议，请投资者根据不同行情独立判断) 资金分析 今日主力净流入-5.05亿，占比0.11%，行业排名168/171，连续3日被主力资金减仓；所属行业主力净流 入-51.12亿，连续2日被主力资金减仓。 12月26日，中芯国际跌0.80%，成交额49.38亿元，换手率2.01%，总市值9768.49亿元。 异动分析 国家大基金持股+存储芯片+中芯国际概念+芯片概念 1、公司获得国家集成电路产业投资基金股份有限公司投资，持股比例占总股本比例为1.61%。 主力持仓 主力没有 ...

Group 1 - The core point of the article is that Semiconductor Manufacturing International Corporation (SMIC) has obtained a patent for "semiconductor structure and its manufacturing method," with the authorization announcement number CN119907302B, applied on October 2023 [1] - SMIC was established in 2000 and is located in Shanghai, primarily engaged in the manufacturing of computers, communications, and other electronic devices [1] - The registered capital of SMIC is 244 million USD, and the company has invested in 4 enterprises, participated in 127 bidding projects, and holds 150 trademark information and 5000 patent information [1] - Additionally, SMIC possesses 446 administrative licenses [1]

美方暂缓加税并非让步，而是为评估制裁效果、调整战略争取时间；中方则抓住窗口期，加速技术攻关，这场围绕芯片的较量，已从正面硬扛转入战略相持 阶段。 美国对华芯片制裁的策略正在发生微妙转变， 从2018年至今，美国先后发起四轮围堵：限制华为获取先进制程芯片、切断EDA工具供应、联合日荷封锁光 刻机出口。 但制裁清单的反复调整暴露了美方的困境——严苛打压并未阻断中国半导体产业的升级， 例如，长江存储在NAND闪存领域的技术突破，迫使美国不得不 重新评估制裁效果。 成熟制程芯片成为美国新一轮关税的焦点，原因在于其广泛的应用场景，这类芯片虽不追求顶尖算力，却是汽车、家电、工业设备的核心组件，全球供应链 依赖极深。 美国数据显示，中国在成熟制程领域的产能已占全球重要份额，中芯国际的扩产速度远超预期。 美方担忧，若放任中国主导该市场，将动摇美国在半导体 产业链的话语权。 美国政府近日宣布，计划在2027年对中国成熟制程芯片加征关税，却意外给出了18个月的"缓冲期"，这一决定看似缓和了中美科技摩擦，实则是双方在半导 体领域新一轮博弈的开始。 技术突破成为中国打破封锁的关键路径，RISC-V开源架构的兴起，让中国企业得以规避美 ...

来源：新浪证券-红岸工作室 融资方面，中芯国际当日融资买入12.55亿元。当前融资余额137.57亿元，占流通市值的5.59%，融资余 额超过近一年80%分位水平，处于高位。 融券方面，中芯国际12月25日融券偿还2.30万股，融券卖出2.10万股，按当日收盘价计算，卖出金额 258.50万元；融券余量22.17万股，融券余额2729.21万元，超过近一年70%分位水平，处于较高位。 资料显示，中芯国际集成电路制造有限公司位于上海市浦东新区张江路18号,香港中环康乐广场8号交易 广场1期29楼，成立日期2000年4月3日，上市日期2020年7月16日，公司主营业务涉及提供0.35微米至14 纳米多种技术节点、不同工艺平台的集成电路晶圆代工及配套服务。主营业务收入构成为：集成电路晶 圆代工93.83%，其他6.17%。 截至9月30日，中芯国际股东户数33.62万，较上期增加33.27%；人均流通股6134股，较上期减少 25.41%。2025年1月-9月，中芯国际实现营业收入495.10亿元，同比增长18.22%；归母净利润38.18亿 元，同比增长41.09%。 12月25日，中芯国际跌0.27%，成交额5 ...

半导体晶圆代工即将开启新一轮涨价，中芯国际已向下游客户发布涨价通知，且此次涨价主要集中于8英寸BCD工艺平台，涨价幅度在10%左右。同时存储 涨价潮蔓延，三星电子、SK海力士等存储供应商已上调明年HBM3E价格，涨幅接近20%。 本周半导体设备ETF（561980）录得4连阳，今日开盘调整，成分股涨跌互现：珂玛科技、有研硅涨超2%，富创精密、华海清科、寒武纪、中船特气等飘 红，中芯国际、海光信息等震荡回调。 银河证券指出，根据TrendForce集邦咨询最新调查，2025年第四季Server DRAM合约价受惠于全球云端供应商(CSP)扩充数据中心规模，涨势转强，并 带动整体DRAM价格上扬，预计DRAM价格环比增长18-23%，HBM的ASP增长23%-28%。当前时点或是存储芯片赛道下一轮周期的新起点，在AI服务 器需求高速增长叠加国产化，看好国内存储产业链相关上市公司的投资机遇。 华创证券指出，当前寒武纪、海光信息、摩尔线程、沐曦股份等国内厂商推出多款AI智算芯片产品，并逐步追赶国际领先标准。目前AI投入产出已实 现闭环，有望进一步致使海外大厂加码AI相关投资。GPU是国内人工智能发展的基础，国产算力芯 ...

Core Viewpoint - The Chip 50 ETF (516920) opened at a decline of 0.48%, indicating a downward trend in the semiconductor sector on December 26 [1] Group 1: ETF Performance - The Chip 50 ETF (516920) opened at 1.035 yuan, reflecting a decrease of 0.48% [1] - Since its establishment on July 27, 2021, the fund has achieved a return of 3.96%, with a one-month return of 8.26% [1] Group 2: Major Holdings Performance - Key stocks within the Chip 50 ETF include: - SMIC (中芯国际) down 0.41% - Cambricon (寒武纪) down 1.32% - Haiguang Information (海光信息) down 0.38% - Northern Huachuang (北方华创) down 0.23% - Lattice Semiconductor (澜起科技) down 0.71% - GigaDevice (兆易创新) down 0.45% - OmniVision (豪威集团) up 0.04% - Chipone (芯原股份) down 1.21% - JCET (长电科技) down 0.46% [1]

际，得到了母亲和爱人的支持，母亲的坚守是我最大动力，母亲天天为中国祈祷！[心][心][心] 芯片之父张汝京：回国创办中芯国 0:00 ...

Core Viewpoint - The semiconductor industry is experiencing a new wave of price increases driven by rising demand, particularly from AI applications, and supply-side capacity shortages [2][3]. Group 1: Price Increases - Semiconductor companies such as SMIC and GlobalFoundries have issued price increase notices to downstream customers, primarily focusing on the 8-inch BCD process platform with an increase of around 10% [3]. - The NAND price index has surged by 173% and the DRAM price index by 169% since the end of July, with expectations of further increases in DDR5 RDIMM prices by over 40% and eSSD prices by 20-30% in Q1 2026 [3]. Group 2: Market Growth - According to SEMI, global semiconductor manufacturing equipment sales are projected to reach $133 billion in 2025, marking a 13.7% year-on-year increase, with continued growth expected in the following years, reaching $145 billion in 2026 and $156 billion in 2027 [4]. - The semiconductor equipment ETF (561980) tracks an index where nearly 60% is composed of equipment, and over 90% is focused on the upstream sectors of the semiconductor industry, indicating significant potential for domestic substitution [4]. Group 3: Investment Opportunities - The semiconductor equipment ETF has a strong focus on leading companies such as Zhongwei Company, North Huachuang, and Cambrian, with the top ten holdings accounting for nearly 80% of the index, showcasing high elasticity characteristics [7]. - As of December 24, the index has seen a year-to-date increase of over 65%, outperforming other mainstream semiconductor indices, suggesting it may have greater resilience in the upcoming semiconductor upcycle [7].

近日，据《上海证券报》及多个权威财经媒体报道，中芯国际已对部分产能实施涨价，涨幅约为10%。有相关公司反映，预计这一涨价措施将很 快执行。此前，由于存储产品价格过低，晶圆厂已率先对其实施了涨价，而此次中芯国际的涨价行为，进一步加剧了市场的紧张氛围。 其次，原材料价格的上涨也是导致中芯国际涨价的重要因素之一。随着全球供应链的紧张，半导体原材料成本不断攀升，晶圆厂为了维持盈利水 平，不得不调整产品价格。 此外，台积电等行业巨头的产能调整也引发了市场的涨价预期。台积电确认整合8英寸产能，并计划在2027年末关停部分生产线，这一举措可能进 一步加剧市场供需矛盾，推动晶圆厂涨价。 产能利用率攀升，接近或超过满载 需求激增，带动半导体产品全面上涨 对于中芯国际涨价的原因，业内人士给出了多方面的解读。首先，手机应用和AI需求的持续增长，带动了套片需求的激增，进而推动了整体半导 体产品需求的增长。这一趋势不仅体现在消费电子领域，还深刻影响了工业控制、汽车电子等多个行业。 事实上，中芯国际及华虹公司等国内晶圆代工企业的产能利用率一直维持在较高水平。由于需求旺盛，这些企业的产能利用率持续增长，并已接 近满载或超过满载。 中芯国际 ...