Core Viewpoint - Semiconductor stocks continue to decline, influenced by new U.S. export control measures targeting China, which may accelerate domestic industry self-sufficiency and promote domestic substitution [1] Group 1: Market Performance - Semiconductor stocks such as SMIC (00981) fell by 5.07% to HKD 70.15, Hua Hong Semiconductor (01347) decreased by 4.91% to HKD 77.45, and Shanghai Fudan (01385) dropped by 2.78% to HKD 40.64 [1] Group 2: Regulatory Impact - On October 7, the U.S. House of Representatives' "Special Committee" released a significant report on semiconductor export controls concerning China, proposing nine recommendations to expand export restrictions [1] - According to CICC, the U.S. semiconductor export controls signify a shift in trade friction towards core technologies and raw materials, which may lead to accelerated domestic industry self-sufficiency and promote domestic substitution [1] Group 3: Industry Outlook - Huatai Securities reported that concerns about a potential bubble in the global AI market exist, but overall optimism remains, supported by strong growth in token usage, which bolsters AI investment confidence [1] - TSMC's progress in building factories in the U.S. is on track, although supporting facilities still need improvement, with expectations to maintain high gross margins due to technological advantages [1] - Advanced packaging is highlighted as a key technology that may sustain Moore's Law in the AI era, presenting investment opportunities for related foundries and equipment companies [1]

截至发稿，英诺赛科(02577.HK)跌5.39%、中芯国际(00981.HK)跌4.33%、华虹半导体(01347.HK)跌 3.68%、上海复旦(01385.HK)跌3.40%。 ...

Core Viewpoint - Hong Kong chip stocks experienced a rise in afternoon trading on October 15, with several companies showing significant gains [1] Company Performance - Hua Hong Semiconductor (01347.HK) increased by 4.69%, reaching HKD 80.35 [1] - Jingmen Semiconductor (02878.HK) rose by 3.92%, trading at HKD 0.53 [1] - Shanghai Fudan (01385.HK) saw a 3.54% increase, priced at HKD 41 [1] - SMIC (00981.HK) gained 1.43%, with shares at HKD 74.4 [1]

Core Viewpoint - Semiconductor stocks experienced an afternoon rally, driven by positive developments in the domestic semiconductor industry and the upcoming Bay Area Semiconductor Industry Ecosystem Expo [1] Group 1: Stock Performance - Huahong Semiconductor (01347) rose by 4.69%, reaching HKD 80.35 [1] - Jingmen Semiconductor (02878) increased by 3.92%, trading at HKD 0.53 [1] - Shanghai Fudan (01385) saw a 3.54% rise, priced at HKD 41 [1] - SMIC (00981) gained 1.43%, with a share price of HKD 74.4 [1] Group 2: Industry Developments - The Bay Area Semiconductor Industry Ecosystem Expo is taking place from October 15 to 17 in Shenzhen [1] - New Kylin's subsidiary, Qiyunfang, launched two domestically developed EDA design software products with 30% performance improvement over industry benchmarks and a 40% reduction in hardware development cycle [1] - New Kylin did not showcase any new photolithography equipment at the expo, as they did not receive notifications for new product releases [1] Group 3: Market Outlook - Dongwu Securities suggests that overseas restrictions on semiconductors will benefit the market share of domestic semiconductor equipment [1] - The domestic wafer fabrication process's core equipment segments, such as photolithography, etching, and thin film deposition, are expected to see rapid increases in localization rates [1] - Continuous price increases in memory chips, active expansion of domestic advanced processes, and the development of domestic computing power are creating investment opportunities in the manufacturing sector [1]

Core Viewpoint - Semiconductor stocks experienced an afternoon rally, with notable increases in share prices for several companies, indicating positive market sentiment in the semiconductor sector [1]. Group 1: Stock Performance - Hua Hong Semiconductor (01347) rose by 4.69%, reaching HKD 80.35 [1] - Jingmen Semiconductor (02878) increased by 3.92%, trading at HKD 0.53 [1] - Shanghai Fudan (01385) saw a rise of 3.54%, priced at HKD 41 [1] - SMIC (00981) gained 1.43%, with shares at HKD 74.4 [1] Group 2: Industry Events - The 2025 Bay Area Semiconductor Industry Ecosystem Expo is taking place in Shenzhen from October 15 to 17 [1]. - New Kylin's subsidiary, Qiyunfang, launched two domestically developed EDA design software products with 30% improved performance over industry benchmarks and a 40% reduction in hardware development cycles [1]. - New Kylin did not showcase any new photolithography equipment at the expo, as they did not receive notifications for new product releases [1]. Group 3: Market Insights - Dongwu Securities suggests that overseas restrictions on semiconductors are beneficial for the market share of domestic semiconductor equipment [1]. - The domestic wafer fabrication process is expected to see a rapid increase in the localization rate of core process equipment such as photolithography, etching, and thin film deposition [1]. - Continuous price increases in memory chips, active expansion of domestic advanced processes, and the development of domestic computing power are creating investment opportunities in the manufacturing sector [1].

Core Points - The board of Shanghai Fudan (01385.HK) will hold a meeting on October 28, 2025, to consider and approve the unaudited third-quarter results for the nine months ending September 30, 2025, along with addressing any other matters [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 於本公告日期，本公司之執行董事為張衛先生及沈磊先生； 非執行董事為閆娜女士、 莊啟飛先生、張睿女士及宋加勒先生；獨立非執行董事為石艶玲女士、王美娟女士及胡 雪先生。 * 僅供識別 1 (股 份 編 號: 1385) 董事會會議通告 上海 復 旦 微 電 子 集 團 股 份 有 限 公 司(「 本 公 司 」)董 事 會（「 董 事 會 」）謹 此 公 告 ， 董 事 會 將 於 2025 年 10 月 28 日 舉 行 會 議 ， 藉 以 考 慮 及 批 准 本 公 司 及 其 附 屬 公 司 截 至 2025 年 9 月 30 日 止 九 個 月 之 第 三 季度未經審核業績公告，以及 處理任何其他事項。 承董事會命 上 海 復 旦 微 電 子 集 團 股 份 有 限 公 司 董事長 張衛先生 中國，上海，2025 年 10 月 14 日 上海復旦微電子集團股份有限公司 Shanghai Fudan M ...

Core Viewpoint - The Hang Seng Technology Index has experienced a significant decline, with notable drops in several semiconductor companies, indicating a bearish trend in the technology sector [2] Company Performance - Hua Hong Semiconductor saw a decline of over 12% [2] - Shanghai Fudan dropped more than 8% [2] - SMIC (Semiconductor Manufacturing International Corporation) fell by over 7% [2]

Core Insights - Fudan Microelectronics experienced a decline of 5.11% on October 14, with a stock price of 60.11 CNY per share and a total market capitalization of 49.376 billion CNY [1] Company Overview - Fudan Microelectronics Group Co., Ltd. was established on July 10, 1998, and went public on August 4, 2021. The company is primarily engaged in integrated circuit (IC) related businesses [1] - The company operates through two main business segments: design, development, and sales of integrated circuits, and providing integrated circuit testing services. It also engages in manufacturing probe cards and developing and selling computer software, hardware, electronic products, and communication systems [1] - The revenue composition of the company includes: FPGA and other products (37.04%), non-volatile memory (23.92%), security and identification chips (21.35%), smart meter chips (13.46%), integrated circuit testing services (4.15%), and rental income (0.09%) [1] Fund Holdings - According to data from the top ten holdings of funds, Yongying Fund has one fund heavily invested in Fudan Microelectronics. The Satellite ETF (159206) reduced its holdings by 52,100 shares in the second quarter, now holding 87,400 shares, which accounts for 4.64% of the fund's net value, making it the fourth-largest holding [2] - The estimated floating loss for the fund today is approximately 283,100 CNY [2] Fund Performance - The Satellite ETF (159206) was established on March 6, 2025, with a latest scale of 92.7281 million CNY and a cumulative return of 19.44% since inception [3] - The fund manager, Liu Tingyu, has been in position for 2 years and 63 days, with total assets under management of 9.046 billion CNY. The best return during his tenure is 107.02%, while the worst return is -2.73% [3]

每经AI快讯，10月14日，港股芯片股持续走低，截至发稿，华虹半导体(01347.HK)跌9%，报80.35港 元；上海复旦(01385.HK)跌6.2%，报41.06港元；中芯国际(00981.HK)跌5.4%，报75.9港元； ASMPT(00522.HK)跌3.5%，报86.75港元。 ...