恒生科技指数跌幅收窄至1%。中芯国际跌幅收窄至1.3%，此前一度跌超3%。 ...

美股三大指数集体收跌 美股三大指数集体收跌，道指跌0.2%，纳指跌0.67%，标普500指数跌0.38%。热门科技股多数下跌，特斯拉跌超4%，谷歌跌超1%，AMD涨超3%，英特 尔涨超1%。加密货币概念、半导体设备与材料跌幅居前，Strategy跌超8%，科休半导体跌超7%，科磊跌超4%，阿斯麦跌近4%，Coinbase跌超2%。煤 炭、日用消费板块走高，雅诗兰黛涨超4%，宝洁、金佰利涨超1%。 | 道琼斯 | 46602.98 | | --- | --- | | | | | 纳斯达克 22788.36 -153.30 -0.67% | | | | | | 标普500 | 6714.59 | 纳斯达克中国金龙指数收跌2.24%，热门中概股普跌，世纪互联跌超6%，万国数据跌超5%，百度跌超4%，阿里巴巴、金山云跌超3%，哔哩哔哩跌近 3%，京东、名创优品、理想汽车跌超2%。 COMEX黄金期货收涨0.79%，报4007.9美元/盎司；COMEX白银期货收跌1.64%，报47.655美元/盎司。 WTI原油期货收涨0.06%，报61.73美元/桶。布伦特原油期货收跌0.03%，报65.45美元/桶。 法国国债市场 ...

Group 1 - Goldman Sachs holds a positive view on the ongoing development of China's local AI ecosystem, which will benefit companies like SMIC and Hua Hong Semiconductor in the semiconductor sector [1] - Goldman Sachs raised the target price for SMIC from HKD 95 to HKD 117 and for Hua Hong from HKD 95 to HKD 117, maintaining a "Buy" rating for both [1] - DeepSeek recently launched its experimental model DeepSeek V3.2-Exp, which improved training and inference efficiency, leading to a reduction in API costs by over 50% [2] Group 2 - The introduction of the more efficient AI model is expected to lower the barriers for AI applications, promoting widespread adoption of the technology [2] - Despite SMIC and Hua Hong's primary capacity being focused on mature process nodes rather than advanced GPU/ASIC, both companies are anticipated to benefit from the long-term growth in AI-related demand [2] - SMIC's 7nm/14nm capacity is expanding, while Hua Hong plans to migrate its next wafer fab to a 28nm process, with potential for further upgrades to meet the increasing demand driven by AI [2]

Market Overview - The Hong Kong stock market experienced a decline, with the Hang Seng Index falling by 0.67% to below 27,000 points, the Hang Seng Tech Index down by 1.1%, and the Hang Seng China Enterprises Index decreasing by 0.88% [1][3]. Technology Sector Performance - Major tech stocks such as Xiaomi, Alibaba, and JD.com saw declines of 2.09%, 2.49%, and 2.14% respectively, while NetEase and Kuaishou also dropped by over 1% [3]. Notable Stock Movements - China Gas Holdings (08246.HK) experienced a significant increase, initially rising over 300% and closing up 113.51% at HKD 0.158 per share. This surge followed an announcement of a subscription agreement for 334 million shares at a price of HKD 0.075, representing a premium of approximately 1.35% over the previous closing price [3][4]. Precious Metals Sector - The precious metals sector showed strength, with Zijin Mining International (02259) rising by 8.24% to HKD 147.2, doubling its listing price of HKD 71.59. The current spot gold price reached USD 3,948.81 per ounce, up by 1.26% [6]. Semiconductor Sector - Semiconductor companies continued their upward trend, with SMIC (0981.HK) reaching a new high of HKD 92.1, marking a 0.17% increase. Huahong Semiconductor (1347.HK) also saw a rise of 4.57%, with a year-to-date increase of 331.6% [7]. IPO Activity - The Hong Kong IPO market remains robust, with 68 companies listed in the first three quarters, a year-on-year increase of 47.83%. The total fundraising amount reached HKD 182.397 billion, a significant increase of 222.16% compared to the previous year, marking the highest level since 2021 [7].

Market Overview - The Hong Kong stock market experienced a collective decline, with the Hang Seng Index falling 0.67% to close below 27,000 points, the Hang Seng Tech Index down 1.1%, and the National Enterprises Index decreasing by 0.88% [1][3]. Gold and Silver Market - Spot gold surged over $50, reaching a historic high of $3,940 per ounce, leading to a strong performance in gold stocks, with Shandong Gold up over 5%, Chifeng Jilong Gold up over 4%, and Zijin Mining up over 2%. Zijin Gold International saw an increase of over 8%, with its stock price doubling since its IPO [1]. - Silver prices also hit a record high, with NY silver reaching $48 per ounce. China Silver Group experienced a significant intraday increase of 20%, ultimately closing up 14.29% [1]. Semiconductor Sector - The demand for AI data centers has driven semiconductor stocks higher, with SMIC rising over 2% and Hua Hong Semiconductor increasing nearly 7%, both reaching historical highs. Goldman Sachs raised the target prices for SMIC and Hua Hong Semiconductor, citing the expanding AI ecosystem in China as a growth opportunity for the semiconductor sector [1]. Cryptocurrency Market - Bitcoin reached a new all-time high, while cryptocurrency-related stocks saw mixed performance, with OK Group Chain closing up 1.3% after an intraday surge of over 18% [1]. Company Performance - In the Hong Kong Stock Connect, Jihong Co. saw an increase of 8.77%, with a reported profit growth of up to 65% in the first three quarters. MicroPort Medical gained 6.62% following the announcement of a restructuring of its cardiac management business, and Four Seasons Pharmaceutical rose 6.7% after its "Frozen Preservation" product received approval for listing [1]. - In Macau, the gaming sector showed a year-on-year revenue growth of 6%, falling short of Morgan Stanley's expected 16% growth, leading to declines in major gaming stocks such as Melco International Development down over 6% and Galaxy Entertainment down nearly 3% [2]. Consumer Sector - The consumer sector showed overall weakness, with Mengniu Dairy down 2.77%. Concerns over slowing automotive demand negatively impacted the performance of new energy vehicle stocks, with Li Auto down over 3%, XPeng down 1.84%, and NIO down 0.17% [2].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中芯國際集成電路製造有限公司 呈交日期: 2025年10月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00981 | 說明 | 無 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 ...

Group 1 - Semiconductor companies SMIC and Hua Hong Semiconductor have seen significant stock price increases, with SMIC's stock rising 1.32% to reach a new high of 92.1 HKD, marking a year-to-date increase of 189.6% and a market capitalization exceeding 730 billion HKD [1] - Hua Hong Semiconductor's stock rose by 6.8% to 93.45 HKD, also reaching a new historical high, with a year-to-date increase of 331.6% and a market capitalization surpassing 160 billion HKD [3] Group 2 - Goldman Sachs has raised the target prices for SMIC and Hua Hong Semiconductor to 117 HKD, citing the expanding AI ecosystem in China as a significant opportunity for the semiconductor sector [6] - The report indicates that as domestic AI solutions develop, both SMIC and Hua Hong Semiconductor are expected to become leading foundries in China and benefit in the long term [6] - Citigroup forecasts that AI-related sales will grow from zero to over 25% of the market share within five years, with global semiconductor sales expected to increase by 16% to a record high of 731 billion USD by 2025, driven entirely by price increases [6]

花旗亦称，五年内AI相关销售额从零增至占市场超25%份额，2025年全球半导体销售额预计增长16%至 7310亿美元创新高，但增长完全由价格驱动，出货量仍低于峰值11%，表明库存偏低、增长空间充足。 尽管半导体指数估值溢价34%，但AI效应支撑的高增长率使估值合理，本轮半导体周期仍有上升空间。 (格隆汇) 华虹半导体(1347.HK)午后涨幅扩大至6.8%，报93.45港元，续创历史新高，H股市值突破1600亿港元， 年内累涨331.6%。 格隆汇10月6日｜早盘一度跌3.85%的中芯国际(0981.HK)午后转涨，最高涨1.32%触及92.1港元，股价续 创历史新高，H股市值突破7300亿港元，年内累涨189.6%。 消息面上，高盛上调中芯国际和华虹半导体港股目标价，称中国不断扩大的AI生态为半导体带来机 遇。将两家公司的目标价均上调至117港元，此前中芯国际和华虹半导体目标价分别为95港元和87港 元。报告表示："随着本土AI解决方案的发展，从模型到半导体，我们预计中芯国际和华虹半导体将成 为中国领先的晶圆代工厂，并在长期受益。" ...

Core Viewpoint - Semiconductor companies, specifically SMIC and Hua Hong Semiconductor, are experiencing significant stock price increases and market capitalization growth due to the expanding AI ecosystem in China, which presents new opportunities for the semiconductor industry [1] Group 1: Stock Performance - SMIC's stock price initially dropped by 3.85% but later rose by 1.32%, reaching a new high of 92.1 HKD, with a year-to-date increase of 189.6% [1] - Hua Hong Semiconductor's stock price increased by 6.8% to 93.45 HKD, also achieving a new historical high, with a year-to-date increase of 331.6% [1] Group 2: Market Capitalization - SMIC's market capitalization surpassed 730 billion HKD [1] - Hua Hong Semiconductor's market capitalization exceeded 160 billion HKD [1] Group 3: Analyst Upgrades - Goldman Sachs raised the target prices for both SMIC and Hua Hong Semiconductor to 117 HKD, up from previous targets of 95 HKD and 87 HKD respectively [1] - The report indicates that the development of domestic AI solutions will position SMIC and Hua Hong Semiconductor as leading foundries in China, benefiting in the long term [1] Group 4: Industry Growth Projections - Citigroup forecasts that AI-related sales will grow from zero to over 25% of the market share within five years [1] - Global semiconductor sales are expected to increase by 16% to a record high of 731 billion USD by 2025, driven entirely by price increases, while shipment volumes remain below peak levels by 11% [1] - Despite a 34% valuation premium in the semiconductor index, the high growth rates supported by AI effects justify the valuations, indicating further upward potential in the current semiconductor cycle [1]

中芯国际港股午后转涨，早盘一度跌超3%。 ...