Group 1 - Semiconductor stocks showed significant gains in early trading, with Hongguang Semiconductor rising by 7.14% to HKD 0.6, Huahong Semiconductor up by 4.78% to HKD 49.58, Jingmen Semiconductor increasing by 3.16% to HKD 0.49, and SMIC rising by 2.88% to HKD 53.55 [1] - The National Internet Information Office of China has raised concerns regarding security risks associated with backdoor vulnerabilities in NVIDIA's computing chips, following reports of the U.S. embedding tracking devices in AI-related chips to monitor their transfer to China [1] - According to a report from Founder Securities, there is a strong outlook for two key directions in the semiconductor industry: self-controllability and edge AI. The report emphasizes that self-controllability is the main focus, with the domestic supply chain strengthening across AI computing, manufacturing, and packaging [1] Group 2 - Despite the current state of domestic AI computing chips being in a catch-up phase, the continuous iteration of products and the gradual enhancement of supply chain capabilities are expected to lead to an increase in market share [1]

港股市场半导体股集体上涨，其中，康特隆涨超8%，脑洞科技、宏光半导体涨超5%，华虹半导体、顺 泰控股涨超2%，贝克微、中芯国际、晶门半导体涨超1%。 本文源自：金融界AI电报 ...

高盛主要观点如下： 资金流向上 —— 高盛的交易平台买入呈现 1.2 倍净卖出状态。消费和科技板块是平台最活跃的主题(双 向交易并存，但消费股更适合卖出而科技股更宜买入)。消费板块呈现双向流动，餐饮类股遭遇部分抛 售，而普拉达等零售股则买卖交投活跃。科技板块中，持续在硬科技领域获得买单，但对腾讯音乐等冲 高个股转为卖出。网易也获得较大力度买入。医疗保健 / 制药板块更受青睐 —— 翰森制药虽呈双向交 易但买方更占优势。 香港股市创下自五月初以来的最佳单日表现。 从行业板块来看，医疗保健、科技和消费板块领涨 —— 在中国政府宣布对符合条件的个人消费贷款实 施贴息计划后，国内零售商与消费医疗企业的股价应声上扬。医疗板块中，信达生物(+9%)、药明康德 (+6.2%)、翰森制药(+5.4%)涨幅居前。科技板块以腾讯音乐(+15.6%)表现最为亮眼，其财报大幅超出预 期，多家投行同步上调目标价。其他涨幅显著的个股包括阿里巴巴(+6.1%)、哔哩哔哩(+7.4%)，华虹半 导体(+5.9%)等芯片股亦表现强势。能源与电信板块表现滞后，虽维持涨势但明显跑输大盘，部分资金 正轮动至成长股。 智通财经APP获悉，高盛发布研报 ...

Group 1 - Semiconductor stocks showed strong performance in early trading, with notable gains from companies such as Hongguang Semiconductor (+7.14%), Huahong Semiconductor (+4.78%), Jingmen Semiconductor (+3.16%), and SMIC (+2.88%) [1] - The National Cyberspace Administration of China has raised concerns regarding security risks associated with backdoor vulnerabilities in NVIDIA's computing chips, highlighting increasing scrutiny on U.S. companies [1] - Reports have emerged revealing that the U.S. has secretly embedded trackers in AI-related chips to monitor if they are being shipped to China, indicating a growing trend of security measures in the semiconductor industry [1] Group 2 - According to a report from Founder Securities, there is a strong bullish outlook on two key directions in the semiconductor sector: self-controllability and edge AI [1] - The report emphasizes that self-controllability is the strongest theme in the semiconductor industry, with a focus on enhancing the domestic supply chain from AI computing to manufacturing and packaging [1] - Despite the current lag in domestic AI computing chip capabilities, continuous product iterations and improvements in supply chain capabilities are expected to gradually increase market share [1]

智通财经APP获悉，中金发布研报称，华虹半导体(01347)次季营收5.66亿美元，同比升18.3%，符合此 前指引的5.5至5.7亿美元区间;毛利率10.9%，同比升0.4个百分点，超出此前指引7%至9%。归母净利润 800万美元，同比升19.2%，整体略超该行预期，因产能利用率和晶圆平均售价超预期。上调目标价39% 至50港元，维持"跑赢行业"评级不变。 考虑到公司出货量及价格均好过此前预期，该行上调公司2025年收入6%至24.04亿美元，即同比增长 20%，但考虑到折旧因素，基本维持2025年归母净利润预测1.49亿美元不变;由于量价齐升，上调2026年 收入12.1%至27.98亿美元，即同比增长16.4%，上调2026年归母净利润10.5%至1.7亿美元。 ...

转自：智通财经 【港股半导体股走强 华虹半导体涨近6%】智通财经8月14日电，截至发稿，华虹半导体(01347.HK)涨 5.62%、中芯国际(00981.HK)涨4.03%、上海复旦(01385.HK)涨2.46%。 ...

（文章来源：每日经济新闻） 每经AI快讯，8月14日，港股半导体股拉升走高，华虹半导体、晶门半导体涨超5%，中芯国际、宏光半 导体涨近4%，上海复旦涨超2%。 ...

Key Points - Xiaomi Group-W (01810), Crystal International Holdings (02228), and BYD Electronic (00285) ranked top in net inflow of southbound funds, with net inflows of 562 million, 227 million, and 213 million respectively [1][2] - Xpeng Motors-W (09868), Innovent Biologics (01801), and Ganfeng Lithium (01772) had the highest net outflows, with net outflows of -663 million, -535 million, and -410 million respectively [1][2] - In terms of net inflow ratio, Haitian Flavoring and Food (03288), Jiangsu Nanjing Highway (00177), and Swire Properties B (00087) led the market with ratios of 55.51%, 49.37%, and 46.46% respectively [1][2] - The highest net outflow ratios were recorded by Reshape Energy (02570), Southbound Hang Seng Index ETF (03037), and First Pacific Company (00142) with ratios of -90.77%, -68.70%, and -60.36% respectively [1][3] Net Inflow Rankings - Xiaomi Group-W (01810) had a net inflow of 562 million, representing 8.75% of its closing price of 50.800, which decreased by 0.88% [2] - Crystal International Holdings (02228) saw a net inflow of 227 million, with a net inflow ratio of 11.34% and a closing price of 7.450, which increased by 4.78% [2] - BYD Electronic (00285) recorded a net inflow of 213 million, with a net inflow ratio of 13.41% and a closing price of 38.680, which increased by 6.15% [2] Net Outflow Rankings - Xpeng Motors-W (09868) experienced the largest net outflow of -663 million, with a net outflow ratio of -20.13% and a closing price of 83.600, which increased by 5.36% [2] - Innovent Biologics (01801) had a net outflow of -535 million, with a net outflow ratio of -19.67% and a closing price of 89.950, which decreased by 1.42% [2] - Ganfeng Lithium (01772) recorded a net outflow of -410 million, with a net outflow ratio of -19.45% and a closing price of 34.000, which increased by 20.91% [2] Net Inflow Ratio Rankings - Haitian Flavoring and Food (03288) had a net inflow ratio of 55.51%, with a net inflow of 21.1399 million and a closing price of 33.560, which decreased by 0.47% [3] - Jiangsu Nanjing Highway (00177) recorded a net inflow ratio of 49.37%, with a net inflow of 14.6726 million and a closing price of 9.980, which decreased by 0.40% [3] - Swire Properties B (00087) had a net inflow ratio of 46.46%, with a net inflow of 4.0945 million and a closing price of 12.160, which decreased by 0.57% [3]

证券研究报告 | 2025年08月13日 投资建议：我们看好公司短期价格修复、稼动率满载，中长期特色工艺代工 拥有全球头部客户及领先工艺的龙头竞争力，根据公司指引，略调整费用率 与毛利率，我们预计 25-27 年净利润 0.90/1.52/2.02 亿美元（前值 25-27 年 0.92/1.66/2.01 亿美元)，当前股价对应 25-27 年 PB 1.56/1.52/1.48 为 倍，维持"优于大市"评级。 风险提示：下游需求放缓；新工艺导入不及预期；扩产不及预期。 华虹半导体（01347.HK） 优于大市 2Q25 毛利率超指引，稼动率保持满载 2Q25 毛利率超指引，3Q25 预期稳步增长。公司发布未经审核业绩：2Q25 实 现 销 售 收 入 5.661 亿 美 元 (YoY+18.3% ， QoQ +4.6%) ， 毛 利 率 10.9% (YoY+0.4pct，QoQ+1.7pct)，此前指引区间营收 5.5-5.7 亿美元，毛利率 7%-9%，毛利率超指引。预计 3Q25 销售收入约 6.2-6.4 亿美元；毛利率约 10%-12%。随着价格修复在下半年逐步体现，9 厂产能进一步释放，公司有 ...

Niki：快手在中午的時候，跌幅比較急，成交額排行在港股市場榜首的位置。消息方面，市場有消息指出"快手-W(01024.HK)旗下快手本地生活近日在「團 購」頁面上線獨立「外賣」入口，可連接到「外賣省心購」的頁面，商品覆蓋漢堡披薩、咖啡奶茶、速食便當等品類，品牌包括肯德基、麥當勞、瑞幸及星 巴克等。"大家都比較關注市場競爭的情況。市場對於這個消息的反應，從股價也看的出來，比較負面一些。今日看到有投資者參與快手的認沽證產品，其 中中銀認沽證17484，行使價50元，槓桿2-3倍，明年12月到期，如果認為快手沒有調整完的話，都可以繼續關注這只產品。認購證方面，中銀認購證 17442，行使價88.93元，槓桿4倍，明年7月到期。 Simon：今日很高興再次邀請中銀國際的董事朱紅Niki做客我們的專欄，分享港股市場，不如先看看指數的情況？ Niki：感謝邀請。近期指數在25000點上上落落。今日曾經上過25000樓上，最終收市24969位置。指數走的比較牛皮，觀察後市能否企穩25000之上？目前恆 指的牛熊證街貨分佈顯示，投資者主流買入牛證。差不多65%資金買入牛證，大概有35%資金買入熊證淡倉，與上周情況一樣，沒有 ...