每经AI快讯，9月30日，港股午后涨幅扩大，科指涨近2%，恒指涨0.7%；科指成分股中，华虹半导体大 涨超11%，快手涨超6%，哔哩哔哩涨近6%，商汤涨近5%，中芯国际、小鹏汽车、蔚来涨超3%，阿里 巴巴涨超2%。 ...

Core Viewpoint - The semiconductor materials and equipment theme index on the STAR Market has shown strong performance, with significant increases in constituent stocks and a notable rise in the STAR Semiconductor ETF, indicating robust investor interest and capital inflow in the sector [1] Group 1: Market Performance - As of September 30, the STAR Market semiconductor materials and equipment theme index rose by 1.46%, with key stocks such as ShenGong Co. up 13.63%, JingSheng Co. up 10.12%, and ChipSource Microelectronics up 5.68% [1] - The STAR Semiconductor ETF (588170) increased by 1.39%, with active buying leading to frequent premiums during trading [1] - Over the past week, the STAR Semiconductor ETF has accumulated a total increase of 15.52% [1] Group 2: Fund Size and Inflows - The latest size of the STAR Semiconductor ETF reached 2.604 billion yuan, marking a new high since its inception [1] - The ETF has seen continuous net inflows over the past nine days, with a peak single-day net inflow of 632 million yuan, totaling 1.721 billion yuan in net inflows, averaging 191 million yuan per day [1] Group 3: Sector Composition and Trends - The STAR Semiconductor ETF and its linked funds track the STAR Market semiconductor materials and equipment theme index, which includes 59% semiconductor equipment and 25% semiconductor materials companies [1] - The semiconductor equipment and materials industry is a crucial area for domestic substitution, characterized by low domestic replacement rates and high potential for domestic substitution, benefiting from the expansion of semiconductor demand driven by the AI revolution, technology restructuring, and advancements in lithography technology [1]

Group 1 - The core viewpoint of the news highlights the positive performance of the semiconductor sector, particularly the rise of the Sci-Tech Innovation Board Semiconductor Materials and Equipment Index and related ETFs, indicating strong investor interest and market momentum [1][3] - The Sci-Tech Semiconductor ETF (588170) has seen a significant increase of 15.52% over the past week, reaching a new high in both scale at 2.604 billion yuan and shares at 1.725 billion [1] - Continuous net inflows into the Sci-Tech Semiconductor ETF over the past nine days, with a peak single-day inflow of 632 million yuan, totaling 1.721 billion yuan, demonstrate robust investor confidence [1] Group 2 - The adaptation of the DeepSeek V3.2 model by Cambrian and Huawei Ascend signifies advancements in domestic computing power, enhancing the efficiency of domestic chips and reducing training costs in long-sequence scenarios [2] - Analysts from Shengan Securities predict that ongoing investments in computing infrastructure will lead to sustained breakthroughs in domestic computing power, potentially outpacing overseas growth [2] - The semiconductor equipment and materials sector is identified as a key area for domestic substitution, benefiting from low domestic replacement rates and high ceilings for domestic alternatives, driven by the AI revolution and technological advancements [3]

Group 1: Chip Sector Performance - The chip stocks collectively surged in the morning, with Demingli (001309) hitting the daily limit within a minute of opening, and several other stocks also reaching their limits [1] - The storage chip sector led the gains, with the index rising over 3% to reach a historical high, while major companies like SMIC and others also set new records [7] - The rapid development of artificial intelligence has led to a supply-demand imbalance in storage chips, with Citigroup predicting shortages of 1.8% for DRAM and 4% for NAND flash by 2026 [9] Group 2: Nonferrous Metals Sector - Nonferrous metal stocks saw a strong performance, with the energy metals index rising nearly 6% to a two-year high, and several sub-sectors like nickel and lithium reaching historical highs [2][4] - The Ministry of Industry and Information Technology, along with eight other departments, issued a plan for the nonferrous metals industry, targeting an average annual growth of around 5% in value-added output from 2025 to 2026 [4] - The demand for nonferrous metals is increasing due to the rapid growth of emerging industries such as new energy vehicles and robotics, leading to price increases and shortages in certain varieties [5] Group 3: Price Trends and Forecasts - Cobalt prices in China have nearly doubled this year, rising from 169,000-171,000 yuan/ton to 325,000 yuan/ton by September 28 [6] - The silver market is expected to face a supply-demand gap for the fifth consecutive year, with a potential shortfall of about 4,000 tons [6] - Major storage chip manufacturers have announced price increases, with Samsung raising prices by 30% for certain memory products, while Micron expects first-quarter revenue to reach $12.2 billion to $12.8 billion, exceeding Wall Street forecasts [10]

Group 1: Market Overview - Chip stocks collectively surged in the morning, with Demingli (001309) hitting the daily limit within a minute of opening, alongside several other stocks reaching their limits [1] - The A-share market experienced slight fluctuations but showed a strong performance in technology stocks, with the Sci-Tech Innovation 50 index reaching a four-year high [1] Group 2: Sector Performance - The non-ferrous metals, chip, newly listed stocks, and aerospace equipment sectors led the gains, while communication equipment, oil and gas extraction, diversified finance, banking, and liquor sectors saw declines [2] Group 3: Non-Ferrous Metals Sector - Non-ferrous metal stocks saw a strong rally, with the energy metals sector index rising nearly 6%, reaching a two-year high, and several sub-sectors like nickel, industrial metals, and gold hitting historical highs [3] - The Ministry of Industry and Information Technology and other departments released a plan for the non-ferrous metals industry, targeting an average annual growth of 5% in value-added output from 2025 to 2026 [5] - The demand for non-ferrous metals is increasing due to the rapid development of new industries such as electric vehicles and robotics, leading to shortages and rising prices [6] Group 4: Chip Sector - The chip sector saw a significant increase, particularly in storage chips, with the index rising over 3% to reach a historical high [8] - Major storage chip manufacturers have raised prices, with Samsung increasing prices of certain memory products by 30% and Micron by 20%-30% [11] - The supply of DRAM and NAND flash is expected to face shortages, with Citigroup predicting a 1.8% and 4% shortfall respectively by 2026 [10]

Market Overview - The Hong Kong stock market showed mixed performance with the Hang Seng Index and the Hang Seng China Enterprises Index declining by 0.1% and 0.13% respectively, while the Hang Seng Tech Index rose by 0.55% [1] - Large tech stocks exhibited varied performance, with Alibaba, NetEase, Kuaishou, and Tencent rising by less than 1%, while Baidu fell by over 1% [1] Semiconductor Sector - Semiconductor stocks continued to perform strongly, with Hua Hong Semiconductor's share price increasing by over 11%, reaching a new historical high, and accumulating a monthly gain of over 48% and an annual gain of approximately 270% [1] - Leading company SMIC also saw its stock rise by over 3%, hitting a new historical price [1] Gold and Commodities - Spot gold prices surpassed $3,860, with an annual increase of over 47%, leading to a rise in most gold stocks [1] - Copper stocks showed relatively strong gains [1] Other Sectors - The biopharmaceutical, aviation, high-speed rail infrastructure, Apple concept, and lithium battery sectors were notably active [1] - Conversely, OPEC+ plans to increase oil production in November led to a decline in international oil prices, causing major oil companies to drop, with China Petroleum shares falling by over 3% [1] - Other sectors such as gambling, home appliances, domestic banks, coal, telecommunications, and paper industries also experienced declines [1] New Listings - Three new stocks saw significant increases, with Xipuni soaring nearly 184%, Zijin Gold International rising nearly 56%, and Botai Che Lian increasing by over 32% [1]

Core Viewpoint - The Hong Kong stock market showed mixed performance with the Hang Seng Index declining slightly while the Hang Seng Tech Index increased, indicating sector-specific movements in the market [1] Group 1: Stock Market Performance - The Hang Seng Index closed down by 0.1% [1] - The Hang Seng Tech Index rose by 0.55% [1] Group 2: Sector Highlights - Semiconductor stocks experienced significant gains, with Hua Hong Semiconductor rising nearly 12% and SMIC increasing by 3.27% [1] - Gold prices reached new highs, leading to strong performance in gold stocks, with Zijin Mining International surging over 60% and China Silver Group rising nearly 4% [1]

Market Overview - A-shares experienced a slight increase with over 2900 stocks rising, and the total trading volume reached 1.4 trillion yuan, an increase of 763.1 billion yuan compared to the previous trading day [1] - The Shanghai Composite Index rose by 0.4%, the Shenzhen Component Index by 0.31%, and the ChiNext Index by 0.06% [1] Positive Market Drivers - The National Development and Reform Commission is actively promoting new policy financial tools with a total scale of 500 billion yuan aimed at supplementing project capital [2] - The manufacturing Purchasing Managers' Index (PMI) for September was reported at 49.8%, an increase of 0.4 percentage points from the previous month, indicating continued improvement in manufacturing sentiment [2] - The release of the DeepSeek-V3.2-Exp model signifies deep collaboration among leading companies in China's AI industry [2] Sector Performance Non-ferrous Metals - The non-ferrous metals sector remained active, with Huaxi Nonferrous Metals hitting the daily limit, and Xingye Silver Tin rising over 5%, reaching a historical high [4] - The cobalt market saw a significant surge, with the average price of 1 cobalt reported at 337,000 yuan/ton, a substantial increase of 29,000 yuan, marking the largest single-day rise this year [4] Storage Chip Sector - Storage chip stocks rose, with Jiangbolong increasing over 15% to reach a new high [5] - A recent report indicated that the eSSD market for servers is expected to rise by over 10% in Q4, with DDR5 RDIMM prices projected to increase by approximately 10% to 15% [5] AI Applications - AI application stocks experienced a rally, with NetEase Software hitting the daily limit and other companies like ZhiDeMai and KaiPuYun also seeing gains [6] - The new pricing policy for DeepSeek's API will reduce costs for developers by over 50% [6] Energy Storage - The energy storage sector continued its strong performance, with Haibo Sichuang rising nearly 10% to set a new listing high [7] - Demand for domestic energy storage cells is robust, with leading battery companies operating at full capacity and orders extending into early next year [8] Institutional Insights - CITIC Securities suggests that holding stocks during the long holiday is cost-effective, with a focus on growth sectors like technology and "new productivity" related areas [9] - Zheshang Securities notes that the growth style of the market has been prominent, with a balanced allocation between cyclical and technology sectors [10] - Huatai Securities indicates that the A-share market has entered an upward platform period, with potential for increased trading activity post-holiday [11]

Group 1: Core Insights - The investment ecosystem of the Sci-Tech Innovation Board (STAR Market) is gradually improving, with the number of STAR Market ETFs reaching 102 by September 26, 2025, including 61 newly established this year [1] - The successful IPO of Moore Threads, a full-function GPU company, highlights the STAR Market's support for "hard technology" and signals a new phase of deep integration between finance and technological innovation [1] - The hard technology sector is entering a critical phase of domestic substitution, with breakthroughs in fields like chips and innovative drugs, driven by both policy and capital [1][2] Group 2: Market Performance - The overall performance of the STAR Market has been positive, with the STAR 50 Index rising by 6.47%, the STAR Information Index by 7.76%, and the STAR Chip Index by 9.05% over the past week [3] - The top five industries on the STAR Market are electronics, biomedicine, computers, power equipment, and machinery, collectively accounting for 88.7% of the market capitalization [4] Group 3: Sector Analysis - The new generation information technology sector, particularly the electronic chip industry, is experiencing strong performance due to policy support, technological breakthroughs, and capital inflow [5] - In the storage chip sector, prices for SSDs and memory modules are rising, with DDR4 in short supply, indicating a recovery in industry inventory levels [6] - The high-end equipment manufacturing sector is crucial for enhancing the overall competitiveness of China's manufacturing industry, with ongoing technological advancements and capital investments [6] - The pharmaceutical sector is currently facing a downturn, but there are signs of recovery in medical device tenders and overseas revenue growth for some companies [6] Group 4: ETF Overview - The Sci-Tech Information ETF (588260) reflects the performance of major companies in next-generation information technology, including electronic core and emerging software sectors [7] - The STAR 50 Index (000688) includes 50 representative securities from the STAR Market, reflecting the overall performance of significant sci-tech enterprises [9] - The STAR Chip Index (000685) represents companies involved in semiconductor materials, design, manufacturing, and testing, showcasing the chip industry's performance [10]

Core Viewpoint - SMIC's stock price increased by 2.84% on September 29, with a trading volume of 13.628 billion yuan, indicating strong market interest and activity [1] Financing Summary - On September 29, SMIC had a financing buy-in amount of 2.458 billion yuan, while the financing repayment was 2.790 billion yuan, resulting in a net financing outflow of 331 million yuan [1] - As of September 29, the total financing and securities lending balance for SMIC was 15.141 billion yuan, with the financing balance at 15.106 billion yuan, accounting for 5.55% of the circulating market value, which is above the 90th percentile level over the past year [1] - In terms of securities lending, SMIC repaid 78,000 shares and sold 13,200 shares on September 29, with a selling amount of approximately 1.7927 million yuan, while the securities lending balance was 35.4834 million yuan, also exceeding the 90th percentile level over the past year [1] Company Performance - As of June 30, SMIC had 252,300 shareholders, a decrease of 2.20% from the previous period, with an average of 8,223 circulating shares per person, an increase of 2.26% [2] - For the first half of 2025, SMIC reported operating revenue of 32.348 billion yuan, a year-on-year increase of 23.14%, and a net profit attributable to shareholders of 2.301 billion yuan, reflecting a year-on-year growth of 39.76% [2] - Among the top ten circulating shareholders as of June 30, 2025, several ETFs increased their holdings, including the Huaxia SSE STAR 50 ETF, which held 95.7266 million shares, an increase of 3.3552 million shares from the previous period [2]