Market Overview - The Hong Kong stock market indices have declined for three consecutive days, with the Hang Seng Index falling 0.81% to close at 24,998.82 points, and the Hang Seng Tech Index dropping over 2% at one point [1] - Southbound capital recorded a net outflow exceeding 20 billion HKD [1] - The Hang Seng Index's trading volume for the day was 391.49 billion HKD [1] Investment Insights - Guotai Junan Securities suggests that the anticipated interest rate cut in September may lead to a convergence of A-H market performance, with corporate earnings becoming a key driver of market differences [1] - Founder Securities expresses optimism for the Hong Kong market due to attractive valuations, potential foreign capital inflow, and the unique representation of Hong Kong stocks [1] Blue Chip Performance - Semiconductor company SMIC (00981) reached a historical high, closing up 10.76% at 62.3 HKD, contributing 42.83 points to the Hang Seng Index [2] - Other notable blue chips include Trip.com Group (09961) up 7.71%, CNOOC (00883) up 4.08%, while Alibaba (09988) fell 4.69%, negatively impacting the index [2] Sector Trends - Large tech stocks mostly declined, with Alibaba down 4.69% and Tencent down 0.83% [3] - The semiconductor sector showed strength, with SMIC and other domestic chip manufacturers rising significantly amid a trend towards local chip supply [3][4] - Biopharmaceutical stocks faced downward pressure, with Bohan Bio (06955) dropping nearly 14% post-earnings [3][4] Earnings Reports - Bohan Bio reported a revenue of 393 million HKD for the first half of the year, up 8.4%, but net profit fell 66.7% [5] - Television Broadcasts (00511) saw a revenue of 1.498 billion HKD, down 1%, with a net loss of 108 million HKD [5] - Mindray (02172) reported a revenue of approximately 383 million HKD, down 6.2%, with a net profit decrease of 35.25% [5] Notable Stock Movements - Jaxin International Resources (03858) surged 177.84% on its debut, closing at 30.34 HKD [7] - Horizon Robotics (09660) rose 14.74% after reporting a 67.6% increase in revenue to 1.567 billion HKD [8] - Trip.com Group (09961) reported a net income of 14.843 billion RMB, up 16.22%, with a net profit increase of 26.43% [9] - China Pacific Insurance (01339) reached a new high, closing up 5.82% with a total revenue of 324.122 billion RMB, up 10.87% [10] - XPeng Motors (09868) saw a significant drop of 8.22% despite launching its new P7 model [11]

【龙虎榜|中芯国际今日涨17.45% 有2家机构专用席位净卖出11.35亿元】智通财经8月28日电，中芯国际 今日涨17.45%，成交额271.19亿元，换手率12.17%，盘后龙虎榜数据显示，沪股通专用席位卖出4.62亿 元，有2家机构专用席位净卖出11.35亿元，中山东路席位净买入4.12亿元，华宝证券上海东大名路净买 入4.27亿元，中信证券北京安外大街2.36亿元。 转自：智通财经 ...

智通财经APP获悉，港股三大指数再度走低，录得三连跌。其中，恒指跌0.81%失守两万五大关，恒科 指午后则一度跌超2%。此外，南向资金净卖出超200亿港元。截止收盘，恒生指数跌0.81%或202.94 点，报24998.82点，全日成交额为3914.88亿港元；恒生国企指数跌1.15%，报8916.93点；恒生科技指数 跌0.94%，报5644.02点。 国金证券指出，由于9月降息或已成定局，考虑到港股今年相对A股的超额已经大幅回吐，A-H市场将重 回统一起跑线，企业盈利变化将成为两地市场表现差异的驱动。方正证券认为港股后市行情值得期待， 原因有如下几点：一是港股在估值上具备充分的吸引力；二是外资有望回流；三是南向资金有望持续流 入；四是港股具有一定的代表性和稀缺性。 蓝筹股表现 中芯国际(00981)创历史新高。截至收盘，涨10.76%，报62.3港元，成交额198.36亿港元，贡献恒指42.83 点。浙商证券近日研报指出，公司为国内晶圆代工龙头企业，在AI行业云侧端侧的需求持续成长以及 客户流片本土化的大趋势下，该行认为公司有望迎来收入、盈利弹性逐步释放的发展新阶段。 博安生物上半年实现收入3.93亿元， ...

Market Performance - The Hong Kong stock market indices collectively declined, marking a three-day losing streak, with the Hang Seng Index falling by 0.81% and closing below the 25,000-point mark [2] - The Hang Seng China Enterprises Index and the Hang Seng Tech Index dropped by 1.15% and 0.94%, respectively [2] - Notably, southbound funds recorded a net sell-off exceeding 20 billion HKD [2] Stock Highlights - Significant gainers included InnoCare Pharma, which surged by over 15.43%, and SMIC, which rose by 10.76% [3] - Other notable performers were Shun Tai Holdings (+14.50%), ChipMOS Technologies (+9.50%), and Hua Hong Semiconductor (+8.44%) [3] Sector Performance - Major technology stocks underperformed, with Meituan experiencing the largest drop of 12.55% post-earnings, followed by JD.com (-5%) and Alibaba (-4.69%) [4] - Infrastructure-related stocks, including heavy machinery, high-speed rail, steel, and building materials, also saw significant declines [4] - Conversely, semiconductor stocks gained traction, driven by optimism around domestic chip replacement, with InnoCare leading the charge [4] - Other active sectors included robotics, brain-computer interface stocks, insurance, oil, and military-related stocks [4]

证券之星消息，8月28日半导体板块较上一交易日上涨6.79%，中芯国际领涨。当日上证指数报收于3843.6，上涨1.14%。深证成指报收于 12571.37，上涨2.25%。半导体板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688881 | 中芯国际 | 119.22 | 17.45% | 242.03万 | | 271.19亿 | | 688110 | 东芯股份 | 118.00 | 16.43% | 48.99万 | | 53.17 Z | | 688256 | 寒武纪 | 1587.91 | 15.73% | 17.83万 | | 260.24亿 | | 688270 | 铸富科技 | 81.90 | 15.42% | 24.27万 | | 18.83亿 | | 688729 | 吃唐股份 | 32.40 | 12.15% | 51.32万 | | 15.87 Z | | 688409 | 富创精密 | 73.27 | 11.86% | 13.45 ...

Market Overview - The Hong Kong stock market experienced a collective decline, with the Hang Seng Index falling by 0.81% to close below 25,000 points, marking three consecutive days of losses [1] - The net selling of Hong Kong stocks by southbound funds exceeded 20 billion HKD [1][16] Sector Performance - Major technology stocks showed weak performance, with Meituan dropping 12.55%, JD.com down 5%, and Alibaba falling 4.69% [2][4] - Infrastructure-related stocks, including heavy machinery, high-speed rail, steel, and cement, also saw significant declines [2] - Semiconductor stocks were the strongest performers, with InnoCare rising over 15% [2][12] Individual Stock Movements - Meituan's stock price fell to 101.70 HKD, down 14.60 HKD [5] - JD.com closed at 115.20 HKD, down 6.10 HKD [5] - Alibaba's stock price decreased to 115.80 HKD, down 5.70 HKD [5] - Semiconductor stocks like InnoCare and SMIC saw increases of 15.43% and over 10%, respectively [12] Industry Trends - The biotechnology sector faced significant declines, with stocks like BGI Genomics dropping nearly 14% [8] - The construction materials sector also experienced widespread losses, with Asia Cement (China) down 4.5% [9] - The dairy sector saw declines, with China Shengmu and Ausnutria both falling over 4% [10] Investment Insights - The outlook for foreign investment in the Chinese market remains positive, with expectations of continued allocation due to improving domestic fundamentals and potential RMB appreciation [18]

Market Performance - The Hong Kong stock market indices collectively declined, marking a three-day losing streak, with the Hang Seng Index falling by 0.81% and closing below the 25,000-point mark [1] - The Hang Seng China Enterprises Index and the Hang Seng Tech Index dropped by 1.15% and 0.94%, respectively [1] - Notably, southbound capital recorded a net sell-off exceeding 20 billion HKD [1] Sector Performance - Major technology stocks exhibited poor performance, with Meituan experiencing the largest drop of 12.55% post-earnings, followed by JD.com down 5%, Alibaba down 4.69%, and Baidu down over 1% [1] - Infrastructure-related stocks, including heavy machinery, high-speed rail construction, steel, and building materials, also saw significant declines [1] - Popular sectors such as stablecoin concepts, automotive stocks, innovative pharmaceuticals, and new consumption concepts faced downward pressure [1] Semiconductor Sector - There is a positive outlook for the accelerated replacement of domestic chips, leading to significant gains in semiconductor stocks, with InnoCare Pharma surging over 15% [1] - Semiconductor heavyweight SMIC rose nearly 11%, reaching a new high since its listing [1] - Other active sectors included robotics, brain-computer interface concepts, insurance, oil, and military stocks [1]

【8月28日连板股分析：科技大票行情延续 算力硬件端强者恒强】今日共58股涨停，连板股总数13只， 其中三连板及以上个股4只，上一交易日共12只连板股，连板股晋级率33.33%（不含ST股、退市股）。 个股方面，科技大票行情延续，全市场共17只个股成交额超百亿，其中除北方稀土、东方财富、指南针 外，其余均为AI产业链的科技权重，寒武纪、中芯国际、新易盛、胜宏科技均涨超15%，股价续创历史 新高。连板方面，除去一字涨停晋级5连板的天普股份外，仅剩启明信息、德创环保、国光连锁3只3连 板个股。板块方面，算力硬件端强者恒强，新易盛、中际旭创无惧英伟达美股盘后下跌影响，开盘后快 速拉升翻红，奠定板块强势氛围。午后铜缆高速连接细分补涨，奕东电子、鼎通科技20CM涨停，胜蓝 股份、华丰科技涨超15%；芯片产业链全线走强，中芯国际大涨超17%，光刻机、光刻胶细分表现不 俗，张江高科率先涨停，钢研纳克20CM涨停，芯碁微装、茂莱光学、上海新阳等涨超10%。 转自：智通财经 ...

（原标题：香港恒生指数收跌0.81% 中芯国际涨约11%） 人民财讯8月28日电，香港恒生指数收跌0.81%，恒生科技指数跌0.94%。美团跌超12%，中芯国际涨约11%，华虹半导体涨超8%。 ...

Investment Rating - The report suggests a positive investment outlook for the semiconductor foundry industry, particularly driven by AI and automotive electronics demand [5]. Core Insights - The semiconductor foundry industry is experiencing a significant growth phase, with global semiconductor sales expected to exceed $1 trillion by 2030, growing at a CAGR of 9% from 2025 to 2030 [4][39]. - TSMC dominates the foundry market with a 60% market share, while SMIC, Hua Hong Semiconductor, and others are emerging as key players in the Chinese market [47][52][58]. Summary by Sections Industry Overview - Wafer foundry refers to the manufacturing of semiconductor wafers for other IC design companies without engaging in design itself. It is a crucial segment of the semiconductor industry [3][10]. - The industry is characterized by high capital and technology intensity, with significant investments required for advanced process nodes [22][23]. Market Dynamics - The global semiconductor wafer capacity is projected to grow from 31.5 million wafers per month in 2024 to 33.7 million in 2025, with a growth rate of 6% and 7% respectively [4][37]. - The demand for chips is driven by sectors such as AI, HPC, and automotive electronics, leading to increased R&D investments in advanced process technologies [29][39]. Key Players in China - SMIC is a leading foundry in China, achieving significant revenue growth and technological advancements, including the production of 14nm FinFET technology [52][54]. - Hua Hong Semiconductor is recognized for its comprehensive specialty process platform, focusing on various technology segments [58]. - Jinghe Integrated Circuit has achieved global leadership in the LCD driver chip foundry market [65]. Competitive Landscape - The foundry market is characterized by a "one strong, many strong" competitive structure, with TSMC as the clear leader, followed by Samsung and SMIC [47]. - The report highlights the increasing market share of SMIC, which has risen to third place in the global foundry rankings [47][49]. Future Trends - The report anticipates continued growth in advanced processes (28nm and below) and specialty processes, driven by the rising demand for high-performance computing and AI applications [5][39]. - The foundry industry is evolving towards a "Foundry 2.0" model, which includes not only wafer manufacturing but also packaging, testing, and other integrated services [24].