Market Overview - The Hong Kong stock market saw all three major indices rise in the morning session, with the Hang Seng Tech Index surging by 1.8% at one point and closing up 1.61% [1] - The Hang Seng Index and the Hang Seng China Enterprises Index increased by 0.32% and 0.53% respectively, indicating a noticeable improvement in market sentiment [1] Sector Performance - Large technology stocks generally experienced upward trends, with Kuaishou rising over 4%, Xiaomi and Tencent up by 1.6%, and Alibaba increasing by more than 1% [1] - Semiconductor stocks were notably impacted by two news items, with Hua Hong Semiconductor soaring over 12% and SMIC rising more than 6% [1] - Sportswear stocks continued to climb, with Li Ning's post-earnings surge exceeding 7%, reaching a new high [1] - Apple-related stocks collectively rose as Bank of America indicated that the Apple supply chain is entering a multi-year upgrade cycle [1] Weak Performers - Airline stocks fell sharply following news that Boeing is negotiating to sell up to 500 aircraft to China, with China Southern Airlines dropping over 6% [1] - Heavy infrastructure, brain-computer interface, coal, gaming, solar, and oil stocks showed weak performance [1]

现阶段A股市场开启了各大指数纷纷创出新高的走势，这样的盘面已经独立于外盘，欧美股市本周出现明显的回调走势，显而易见A股又开启了独立行情。 目前最大的问题在于指数上涨，个股出现了跌多涨少的局面，缩量反弹行情难以持续，投资者应该重点关注抱团取暖的部分板块，以及龙头个股的趋势机 会。大家要明白一件事："牛市行情看似热闹，就好像步行街的繁华一样，仍然会有一些商铺门可罗雀甚至倒闭，能否赚钱各凭本事了！" 骑牛看熊发现集成电路材料创新联合体转引TECHCET 数据显示，2025 年全球半导体材料市场预计达到约700亿美元规模，同比增长约6%。受AI 相关需求 推动，晶圆投片量将持续增加，从而带动半导体材料市场成长。预计到2029 年市场规模将超过870 亿美元，CAGR 达4.5%增长。二季度各环节公司业绩预 告亮眼，展望三季度半导体旺季期，关注存储/功率/代工/ ASIC/ SoC 业绩弹性, 设备材料、算力芯片国产替代。综合来看2025 年，全球半导体增长延续乐观 增长走势，2025 年AI 驱动下游增长。同时，政策对供应链中断与重构风险持续升级，国产替代持续推进。 短期大盘趋势偏强 当日点评 短期大盘趋势偏强,增量 ...

Group 1 - Chip stocks have surged, with notable increases: Huahong Semiconductor up 8.69% to HKD 51.65, Shanghai Fudan up 7.37% to HKD 32.06, SMIC up 6.77% to HKD 55.2, and ZTE up 5.87% to HKD 33.16 [1] - Recent positive developments for domestic computing power include Tencent's announcement of multiple supply options for inference chips and DeepSeek's model update to support FP8 precision and domestic chips [1] - Huawei Ascend-based server products have secured large orders in government, finance, and telecommunications sectors, indicating strong market demand [1] Group 2 - The U.S. has tightened security reviews on high-performance GPUs, with Nvidia's H20 chip criticized by state media for being "neither advanced, safe, nor environmentally friendly" [2] - The U.S. has imposed new conditions for the export of H20 chips to China, requiring a 15% revenue share from related sales, increasing costs and supply uncertainty for companies [2] - In this context, there is a growing domestic demand for self-controlled computing power, with policies and capital increasingly directed towards domestic AI chip and computing chain manufacturers [2]

Group 1 - The core viewpoint of the article highlights a significant surge in the semiconductor industry, particularly with the rise of the K-50 index and stocks like Cambricon reaching historical highs [1][2]. - The K-50 index experienced a violent increase, with a rise of over 5% during the trading session, driven by stocks in the semiconductor, computer hardware, and AI computing sectors [2][3]. - Cambricon's stock price peaked at 1188 yuan per share, marking a rise of over 14% during the trading session, attributed to the announcement of the DeepSeek-V3.1 and advancements in domestic chip technology [5]. Group 2 - The chip industry saw a collective surge, with stocks like Haiguang Information and Chipone rising significantly, with Haiguang Information hitting a 19% increase [4][5]. - The PCB (Printed Circuit Board) sector is also experiencing growth, with a projected investment of 41.9 billion yuan for leading PCB companies by 2025-2026, driven by the demand for AI computing infrastructure [5]. - The rare earth permanent magnet sector is gaining momentum, with prices for key rare earth products rising significantly, including a 10.7% increase in the price of neodymium iron boron N35 this month [6].

消息面上，DeepSeek在其官宣"正式发布DeepSeek-V3.1"的文章里面提到，DeepSeek-V3.1使用了UE8M0 FP8 Scale 的参数精度。另外，V3.1对分词器及chat template进行了较大调整，与 DeepSeek-V3 存在明显差异。DeepSeek官微 在置顶留言里说，UE8M0 FP8是针对即将发布的下一代国产芯片设计。 格隆汇8月22日｜港股市场芯片股全线大涨，其中，华虹半导体涨近10%，贝克微涨超7%，晶门半导体、中芯国际 涨超6%，上海复旦上近6%，宏光半导体涨3%，中电华大科技、ASMPT涨超2%。 另外，据The Information，英伟达下令暂停H20芯片生产。 | 代码 | 名称 | 涨跌幅 √ | 最新价 | 总市值 | 年初至今涨跌 | | --- | --- | --- | --- | --- | --- | | 01347 | 华虹半导体 | 9.85% | 52.200 | 902.79亿 | 141.11% | | 02149 | 贝克微 | 7.84% | 66.000 | 41.58亿 | 142.65% | | 02878 | 晶门 ...

Group 1 - The stock price of Huahong Semiconductor increased by 5.13% on August 22, reaching HKD 49.96 per share with a trading volume of HKD 653 million [1] - Huahong Semiconductor is a leading specialty foundry company focusing on embedded and standalone non-volatile memory, power devices, analog and power management, and logic and RF technologies [1] - The company operates three 8-inch wafer fabs in Shanghai and Zhangjiang, and one 12-inch fab in Wuxi, with a monthly production capacity of approximately 180,000 and 75,000 wafers respectively [1] Group 2 - As of the mid-year report for 2025, Huahong Semiconductor reported total revenue of HKD 7.925 billion and a net profit of HKD 83.7699 million [1] - The company's products are widely used in emerging fields such as electric vehicles, green energy, and the Internet of Things [1] - Huahong Semiconductor is set to disclose its mid-year report for the fiscal year 2025 on August 28 [2]

Group 1: Chip Stock Performance - Chip stocks have surged, with notable increases: Huahong Semiconductor up 8.69% to HKD 51.65, Shanghai Fudan up 7.37% to HKD 32.06, SMIC up 6.77% to HKD 55.2, and ZTE up 5.87% to HKD 33.16 [1] Group 2: Domestic Computing Power Developments - Recent positive developments for domestic computing power include Tencent's announcement of multiple supply options for inference chips and DeepSeek's model update to version V3.1, which is expected to support FP8 precision and domestic chips [1] - Huawei's Ascend chip-based server products are being deployed in large orders across government, finance, and telecommunications sectors [1] - ZTE's inference chip on Huahong's 7nm process has successfully passed initial testing, with the first batch currently being tested by clients [1] Group 3: Regulatory Environment and Market Demand - The U.S. has tightened security reviews on high-performance GPUs, with Nvidia's H20 chip criticized by state media for being "neither advanced, safe, nor environmentally friendly," leading to cautious procurement reminders for key internet companies [2] - Following the U.S. announcement to resume H20 exports to China with new conditions, there is an increasing domestic demand for self-controlled computing power, accelerating policy and capital flow towards domestic AI chip and computing chain manufacturers [2]

Group 1 - New沃基金管理有限公司 announced an adjustment in the valuation method for its long-term suspended stock, 华虹公司 (stock code: 688347), effective from August 20, 2025 [1] - The valuation will utilize the "index income method" for the suspended stock until it resumes trading and exhibits active market trading characteristics [1] - Upon resumption of trading, the valuation will revert to using the closing price of the stock on that day, with no further announcements required [1]

Group 1 - The core point of the announcement is that Dongxing Fund Management Co., Ltd. will adjust the valuation method for its funds holding the suspended stock "Huahong Company" (stock code: 688347) to the "index income method" starting from August 20, 2025 [1] - The index used for this valuation will be the AMAC Industry Index, which is the stock valuation index of the Asset Management Association of China [1] - The company will consider various relevant factors and negotiate with the fund custodian, and will revert to using the closing price for valuation once the stock resumes trading and reflects active market trading characteristics [1]

中国经济网北京8月21日讯今日，信达澳亚基金管理有限公司发布关于旗下基金调整停牌股票估值方法 的提示性公告。 公告称，公司决定自2025年8月20日起，以中基协AMAC行业指数为计算依据，对旗下基金所持有的华 虹公司(股票代码：688347)采用"指数收益法"进行估值。 该公司将综合参考各项相关影响因素并与托管行协商，自上述股票复牌且其交易体现了活跃市场交易特 征后，恢复按市价估值法进行估值，届时不再另行公告。 ...