人民财讯10月14日电，港股午间收盘，恒生指数跌0.2%，恒生科技指数跌1.3%。港股半导体板块走 弱，华虹半导体跌超10%，中芯国际跌超5%。中资保险、银行板块走强，新华保险涨超5%，招商银行 涨超4%。 转自：证券时报 ...

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) experienced a decline of 5.03% in stock price, closing at 129.61 CNY per share, with a trading volume of 10.991 billion CNY and a turnover rate of 4.13% [1] Company Overview - SMIC is located at Zhangjiang Road 18, Pudong New District, Shanghai, and was established on April 3, 2000. The company went public on July 16, 2020. Its main business involves providing integrated circuit wafer foundry services across various technology nodes ranging from 0.35 microns to 14 nanometers [1] - The revenue composition of SMIC is primarily from integrated circuit wafer foundry services, accounting for 93.83%, while other services contribute 6.17% [1] Fund Holdings - The Qianhai Open Source Industrial Revolution 4.0 Mixed Fund (001103) holds a significant position in SMIC, with 190,000 shares maintained since the previous period, representing 5.73% of the fund's net value, making it the sixth-largest holding [2] - The fund has reported a floating loss of approximately 1.3034 million CNY as of the latest data [2] Fund Performance - The Qianhai Open Source Industrial Revolution 4.0 Mixed Fund was established on March 27, 2015, and currently has a total asset size of 2.29 billion CNY. Year-to-date, the fund has achieved a return of 25.15%, ranking 3789 out of 8162 in its category. Over the past year, it has returned 27.96%, ranking 3447 out of 8015, and since inception, it has returned 160.15% [2]

Market Overview - The market opened higher but showed divergence, with the ChiNext Index experiencing a drop of over 2% after initially rising more than 1% [1] - As of the morning close, the Shanghai Composite Index increased by 0.21%, while the Shenzhen Component Index fell by 1.02%, and the ChiNext Index declined by 2.24% [1] Sector Performance - The financial sector was notably active, with bank stocks collectively rising [2] - The photovoltaic sector saw a surge, with leading company LONGi Green Energy hitting the daily limit [2] - The liquor sector also performed well, with Kweichow Moutai reaching the daily limit [2] - The coal sector showed strong performance, with Dayou Energy achieving two consecutive daily limits in three days [2] - In contrast, the semiconductor sector faced weakness, with companies like Wingtech Technology hitting the daily limit down, and others like Opal Photonics and Wavelength Optoelectronics experiencing collective adjustments [2] Trading Volume - The total trading volume for the Shanghai and Shenzhen markets reached 1.67 trillion yuan, an increase of 90.5 billion yuan compared to the previous trading day [3] - Notable individual stock trading volumes included Northern Rare Earth with over 19 billion yuan, followed by New Yisheng, ZTE Corporation, and Baosteel with significant trading volumes [3]

Group 1 - SMIC's stock price dropped by 5.03%, reaching 129.61 CNY per share, with a trading volume of 10.991 billion CNY and a turnover rate of 4.13%, resulting in a total market capitalization of 1,036.889 billion CNY [1] - SMIC specializes in integrated circuit wafer foundry services, offering a range of technology nodes from 0.35 microns to 14 nanometers, with 93.83% of its revenue coming from wafer foundry services and 6.17% from other services [1] Group 2 - Taiping Fund's Taiping Kechuang Selected Mixed Fund A (019575) holds 9,648 shares of SMIC, unchanged from the previous period, representing 6.93% of the fund's net value, making it the largest holding [2] - The fund has a total scale of 11.3604 million CNY and has achieved a year-to-date return of 26.47%, ranking 3,560 out of 8,162 in its category [2] Group 3 - The fund manager of Taiping Kechuang Selected Mixed Fund A is Yang Xingyuan, who has been in the position for 2 years and 180 days, with the fund's total asset size at 12.2675 million CNY [3] - During Yang's tenure, the best fund return was 29.66%, while the worst return was -28.99% [3]

格隆汇10月14日｜中芯国际A股跌逾5%，成交额突破100亿元。 ...

中芯国际A股成交额达100亿元，现跌5.27%。 ...

来源：新浪港股 消息面上，近期美国总统特朗普再次挥舞关税大棒，宣布将从11月1日对从中国进口商品加征100%的额 外关税，此外关键软件也将面临出口管控。 此外，根据闻泰科技的公告，公司子公司安世半导体收到荷兰政府的通知，要求安世及其下属所有子公 司、分公司、办事处等全球30个主体对其资产、知识产权、业务及人员等不得进行任何调整，有效期为 一年。 港股半导体股盘中回落，华虹半导体跌超8%，上海复旦、中芯国际跌超5%。 ...

Core Viewpoint - Semiconductor stocks experienced a decline, with significant drops in shares of major companies, indicating a negative market sentiment influenced by recent regulatory changes and control issues within the industry [1] Group 1: Stock Performance - Huahong Semiconductor (01347) fell by 7.13%, trading at 82 HKD - Shanghai Fudan (01385) decreased by 6.17%, trading at 41.08 HKD - SMIC (00981) dropped by 4.68%, trading at 76.4 HKD - ASMPT (00522) declined by 2.73%, trading at 87.45 HKD [1] Group 2: Regulatory Impact - Unisplendour's subsidiary, Anshi Semiconductor, lost control over its governance and voting rights due to a ministerial order from the Dutch Ministry of Economic Affairs and Climate Policy and a court ruling [1] - Analysts suggest that this event may temporarily impact market sentiment, highlighting the urgency for self-sufficiency in the semiconductor supply chain [1] Group 3: Export Controls - The Chinese Ministry of Commerce announced further export controls on 12 types of rare earth elements and related products, which are critical for semiconductor manufacturing [1] - These controls are expected to negatively affect overseas semiconductor companies while benefiting domestic Chinese firms by promoting localization [1] - Additionally, the U.S. will impose export controls on key software sold to China, which may increase the necessity for domestic alternatives, potentially benefiting Chinese EDA companies [1]

Core Insights - SMIC's stock rose by 6.66% on October 13, with a trading volume of 18.643 billion yuan, indicating strong market interest [1] - The financing data shows a net purchase of 3.23 billion yuan on the same day, with a total financing balance of 143.43 billion yuan, which is high compared to historical levels [1] - As of June 30, 2025, SMIC reported a revenue of 32.348 billion yuan, a year-on-year increase of 23.14%, and a net profit of 2.301 billion yuan, up 39.76% year-on-year [2] Financing and Trading Activity - On October 13, SMIC had a financing buy of 3.391 billion yuan and a repayment of 3.068 billion yuan, resulting in a net buy of 0.323 billion yuan [1] - The financing balance of 143.03 billion yuan represents 5.24% of the circulating market value, exceeding the 90th percentile of the past year [1] - The short selling activity on the same day included a repayment of 12.88 thousand shares and a sale of 5.52 thousand shares, with a total short balance of 3.951 million yuan, also at a high historical level [1] Shareholder Structure - As of June 30, 2025, SMIC had 252,300 shareholders, a decrease of 2.20% from the previous period, while the average number of circulating shares per person increased by 2.26% to 8,223 shares [2] - Major institutional shareholders include Huaxia's STAR 50 ETF and E Fund's STAR 50 ETF, both of which increased their holdings significantly compared to the previous period [2]

Core Points - The Hang Seng Tech Index has seen a decline of 0.12% as of October 14, 2025, with mixed performance among constituent stocks, including a 4.10% increase in Xpeng Motors and a 4.65% drop in Kingsoft [3][7] - The Hong Kong Internet Index decreased by 0.24%, with Dama Entertainment leading gains at 9.09% and Kingsoft again showing a significant decline [5][7] - The Hang Seng Tech Index ETF has shown a 2.82% increase over the past month, ranking 2nd among comparable funds [3][7] - The recent adjustments in both indices have provided a potential investment opportunity, particularly in the tech sector, which is expected to benefit from the ongoing AI narrative [7] Market Performance - The Hang Seng Tech Index has adjusted over 8% since reaching a high of 6682.86 points on October 2, 2025 [7] - The Hong Kong Internet Index has seen a 6.77% decline in the first three trading days of October [7] - The Hang Seng Tech Index ETF has a current price of 0.85 yuan, with a trading volume of 2.41 billion yuan and a turnover rate of 5.23% [3][8] Fund Flows - The Hang Seng Tech Index ETF has recorded a net inflow of 41.82 million yuan, with a total of 230 million yuan net inflow over the last four trading days [8] - The Hong Kong Internet ETF has seen a net inflow of 36.89 million yuan, with a total of 44.97 million yuan over the last four trading days [10] Valuation Metrics - The current PE ratio for the Hang Seng Tech Index is 23.31, placing it at the 37.95% historical percentile over the past five years [7] - The PE ratio for the Hong Kong Internet Index stands at 25, at the 32.27% historical percentile over the same period [7] ETF Details - The Hang Seng Tech Index ETF has reached a new high in size at 4.539 billion yuan and a record share count of 5.444 billion [8] - The Hong Kong Internet ETF has also achieved a new size high of 400 million yuan and a share count of 206 million [9]