◎记者 徐蔚 8月13日，A股三大指数集体创阶段新高，上证指数盘中创出2021年12月以来的新高。截至收盘，沪指 涨0.48%报3683.46点，持续站稳这一阶段高位；深证成指涨1.76%报11551.36点，创2024年10月以来新 高；创业板指涨3.62%报2496.50点，创今年以来新高。 市场交投活跃度显著提升，沪深北三市全天成交额达21752亿元，较上一交易日放量2700亿元。这也是 自2月27日以来，时隔114个交易日成交额再度突破2万亿元。全市场超2700只个股上涨，百股涨停再 现。 AI硬件大涨 盘面上，AI硬件方向上演"集体狂欢"，CPO、PCB等概念受资金追捧，中际旭创、新易盛、华工科技、 光库科技、胜宏科技均续创股价历史新高。工业富联尾盘涨停，股价再度创下历史新高，报43.68元/ 股，最新总市值达8675亿元。 8月10日晚，工业富联发布2025年半年报，公司上半年实现营业收入3607.6亿元，同比增长35.58%；实 现归母净利润121.13亿元，同比增长38.61%，均创同期历史新高。尤其是，公司单个季度营收首次超过 2000亿元大关。工业富联业绩快速增长的最大驱动力是人工智能（A ...

Core Viewpoint - The computing power sector has experienced a significant surge, driven by factors such as relaxed sales policies from Nvidia, increased capital expenditures from North American cloud providers, and a growing demand for AI models, making it a prominent investment theme in the A-share market [1][5][6]. Group 1: Market Performance - The computing power sector saw a notable rise on August 13, 2025, with key stocks like Cambricon, Industrial Fulian, and leading optical module companies reaching new highs [1]. - Cambricon's stock peaked at 868 CNY, closing at 860 CNY, with a market capitalization of 359.8 billion CNY [1]. - Industrial Fulian's stock hit a record high of 43.68 CNY, with a single-day trading volume exceeding 10 billion CNY, reflecting strong market interest in AI server leaders [1]. Group 2: Subsector Highlights - The optical module sector also performed well, with stocks like NewEase and Zhongji Xuchuang rising significantly, with NewEase increasing by 15.55% to 236.56 CNY and Zhongji Xuchuang by 11.66% to 252 CNY [2]. - The computing power leasing concept gained traction, with stocks like Hangang Co. hitting the daily limit and other related stocks also seeing substantial gains [2]. - Liquid cooling technology, essential for computing infrastructure, attracted significant investment, with multiple stocks rising over 12% [2]. Group 3: Driving Factors - Nvidia's potential easing of sales policies to China has provided a boost to the computing power sector [5]. - North American cloud providers have reported a substantial increase in capital expenditures, with a total of 159.38 billion USD expected in the first half of 2025, marking a 24.4% year-on-year increase [5]. - The release of major AI models, including OpenAI's GPT-5, has intensified the demand for computing power, prompting companies to secure resources to remain competitive [6]. - Domestic advancements in the computing power supply chain, such as Huawei's upcoming AISSD technology, have also contributed to the sector's growth [6]. Group 4: Future Outlook - Analysts are optimistic about the performance of leading companies in the sector, with significant profit growth expected for several firms, including Huafeng Technology with a projected net profit increase of 1479% [7].

Investment Rating - The report maintains a "Buy" rating for the company [3][9]. Core Insights - The company reported a record high revenue of 200.34 billion yuan in Q2 2025, representing a 36% year-on-year growth, and a net profit of 6.88 billion yuan, up 51% year-on-year [2]. - The AI server business continues to drive significant growth, with overall server revenue increasing by over 50% in the first half of 2025, and AI server revenue growing by more than 60% [8]. - The company is expected to benefit from the ongoing demand for high-speed switches and AI mobile phones, with the precision component business seeing a 17% increase in shipment volume in the first half of 2025 [8]. Financial Forecasts - The company’s earnings per share (EPS) are projected to be 1.59 yuan, 2.19 yuan, and 2.59 yuan for 2025, 2026, and 2027 respectively, reflecting an upward adjustment due to the increasing proportion of high-end products [3][9]. - Revenue forecasts for 2025 to 2027 are 797.6 billion yuan, 997.1 billion yuan, and 1,188.1 billion yuan, with year-on-year growth rates of 31%, 25%, and 19% respectively [5]. - The gross margin is expected to stabilize at around 7.3% for 2025 and 2026, with a slight increase to 7.7% in 2027 [5]. Market Position and Competitive Advantage - The company has established a strong competitive position in the AI server market, with significant investments in R&D and manufacturing capabilities [8]. - The demand for high-speed switches is expected to grow significantly, with the market for Ethernet switches in generative AI data centers projected to increase from approximately 640 million USD in 2023 to over 9 billion USD by 2028, representing a compound annual growth rate of 70% [8]. - The company is well-positioned to capitalize on the high-end smartphone market, benefiting from a structural recovery in demand driven by AI mobile phones [8].

下一个大牛股，会是哪个行业龙头？ 多只AI硬件龙头股创新高 随着2025年半年报披露季拉开帷幕，行业龙头股业绩数据备受各方关注。龙头股的业绩情况能在一定程度上反映所属行业的发展态势，良好的业绩表现， 表明公司在复杂的市场环境中仍能保持较强的竞争力和盈利能力，向市场传递出积极信号，有助于增强投资者对A股市场的信心。 受业绩利好刺激，行业龙头股在二级市场的强劲表现，往往也会对所属板块产生带动作用，提升板块的市场关注度和整体估值。 以光模块龙头新易盛（300502）为例，公司预计2025年上半年净利润为37亿元至42亿元，同比增长327.68%至385.47%。报告期内，受益于人工智能相关 算力投资持续增长，公司产品结构优化，高速率产品需求持续增加，销售收入和净利润较上年同期大幅增加。 业绩超预期的表现，使得新易盛持续受到市场资金追捧，该股8月13日收盘涨幅15.45%，股价再创历史新高，最新A股市值已突破2300亿元。最新收盘价 与近3年来低点相比，最大涨幅超22倍。 同样受益于AI需求推动业绩大增的工业富联，今日收盘封住涨停板，股价创历史新高，A股市值突破8600亿元。公司今年上半年实现净利润121亿元，同 比 ...

Core Viewpoint - The article discusses the recent bullish trends in the Chinese stock market, particularly focusing on the AI sector and its potential for growth, while also addressing the cautious perspectives on whether a bull market has been established [6][10]. Market Overview - The Shanghai Composite Index has reached its highest point since December 2021, with significant trading volume exceeding 2 trillion yuan, indicating a strong market atmosphere [2][4]. - The AI sector, including areas like optical modules, cloud computing, and PCB, has shown remarkable performance, with specific stocks like Xinyi and Zhongji rising by 15% and 11% respectively [5][18]. Bull Market Discussion - There is an ongoing debate about whether the market has entered a bull phase, with some analysts suggesting that the main line of a bull market has not yet been established [8]. - Potential drivers for a bull market include domestic technological breakthroughs and high global market shares in manufacturing [9]. Sector Performance - The securities sector has shown strong performance, with multiple stocks hitting the daily limit up, indicating a bullish sentiment [11][13]. - The AI computing sector, particularly related to AI infrastructure, has been highlighted as a key area of growth, with companies like Industrial Fulian reporting a 51% increase in net profit [31]. Financing Trends - The margin trading balance has surpassed 2 trillion yuan for the first time since July 2015, reflecting an increased risk appetite among investors [21][22]. - The rising margin trading balance indicates a positive feedback loop driven by market gains and wealth effects, suggesting further room for growth in the bull market [23]. AI Sector Insights - Major tech companies are significantly increasing their capital expenditures for AI infrastructure, with combined spending from Microsoft, Google, Meta, and Amazon projected to reach $95.8 billion in Q2 2025, a 64% year-over-year increase [26][28]. - The demand for AI computing power is expected to rise, driven by advancements in AI models and applications, with OpenAI's launch of GPT-5 anticipated to further stimulate the market [32][44]. Investment Opportunities - The SHS Cloud Computing ETF has seen a year-to-date increase of 40.47%, reflecting strong investor interest in the cloud computing sector [34]. - The article emphasizes the importance of understanding the underlying logic of the AI industry for successful investment, as the sector is still in its early stages of development [38][42].

机构今日买入型评级个股 市场表现方面，机构买入型评级个股今日平均上涨1.75%，表现强于沪指。股价上涨的有27只，涨停的 有金田股份、工业富联等。涨幅居前的有臻镭科技、壹网壹创、鹏鼎控股等，今日涨幅分别为 15.63%、10.10%、9.76%。跌幅较大的个股有南京银行、常熟银行、北鼎股份等，跌幅分别为2.33%、 2.03%、1.39%。 业绩方面，机构评级买入个股中，有31股已经公布了上半年业绩，净利润同比增幅最大的是臻镭科技， 公司上半年业绩实现净利润6231.97万元，同比增长1006.99%。净利润同比增幅较高的还有奥比中光、 晶丰明源等，净利润同比分别增长212.77%、151.67%。公布上半年业绩预告的共有5只，以净利润增幅 中值来看，净利润增幅最高的是金田股份，公司预计上半年业绩净利润同比增长201.07%，其次是祥和 实业、歌华有线等，预计净利润增幅中值分别为101.54%、77.76%。 行业来看，电子行业最受青睐，工业富联、鹏鼎控股等7只个股上榜机构买入评级榜。电力设备、基础 化工等行业也较受机构关注，分别有5只、5只个股上榜。（数据宝） 47只个股今日获机构买入型评级，8股机构首次关 ...

Market Overview - A-shares experienced a significant rally, with the Shanghai Composite Index achieving an 8-day winning streak and reaching a new high since December 2021, closing at 3683.46 points, up 0.48% [1] - The total trading volume in the A-share market exceeded 2 trillion yuan for the first time since February 27, with a total of 21,756 billion yuan traded [1] - The Hong Kong stock market also saw substantial gains, with the Hang Seng Index rising over 2% and the Hang Seng Tech Index increasing over 3% [1] AI Industry - AI-related stocks surged, with notable gains including Guangku Technology and Robotech both hitting the 20% limit up, and Industrial Fulian also reaching the limit up [2][4] - Industrial Fulian reported a revenue of 360.76 billion yuan for the first half of 2025, a year-on-year increase of 35.58%, and a net profit of 12.11 billion yuan, up 38.61% [4][5] - The demand for AI servers is expected to grow significantly, driven by increased capital expenditures from major North American cloud service providers [4][5] Innovative Pharmaceuticals - The innovative drug sector saw strong performance, with Shouyao Holdings hitting the 20% limit up, and other companies like Microchip Biotech and WuXi AppTec also posting significant gains [6][8] - The National Medical Insurance Administration has established a "new drug pricing mechanism," which is expected to provide innovative drug manufacturers with greater pricing flexibility and efficiency [8] Humanoid Robotics - The humanoid robotics sector showed renewed activity, with companies like Shenglan Co. and Jieke Co. seeing substantial increases in stock prices [9][11] - The World Robot Conference held in Beijing highlighted advancements in embodied intelligent robots, with local governments offering subsidies for robot purchases [9][11] - The industry is expected to benefit from various supportive policies and events, including the upcoming World Humanoid Robot Games and other robotics-related conferences [11]

13日，A股全线走高，沪指8连阳续创阶段新高，创业板指大涨近4%；全A成交额突破2万亿元，为2月27 日以来首次。港股亦大幅拉升，恒生指数涨超2%，恒生科技指数涨超3%。 具体来看，沪指盘中强势拉升，一度逼近3700点，创2021年12月以来新高；深证成指、创业板指均创近一年 新高。截至收盘，沪指涨0.48%报3683.46点，深证成指涨1.76%报11551.37点，创业板指涨3.62%报2496.5 点，沪深北三市合计成交21756亿元，较此前一日增加约2700亿元。 市场整体活跃，券商板块拉升，长城证券、国盛金控涨停；创新药概念活跃，首药控股20%涨停，昭衍新药、 美迪西涨超9%，药明康德涨逾7%；人形机器人概念热度不减，杰克股份、内蒙一机、中大力德等续创新高； AI产业链股飙升，市值超8000亿元的工业富联尾盘涨停，光库科技、新易盛、中际旭创均创出历史新高。值 得注意的是，宁德时代反弹涨约4%。 港股方面，腾讯音乐盘中大涨近18%，股价突破100港元大关，创历史新高；鸿腾精密盘中涨超17%，阿里巴 巴、哔哩哔哩等涨超6%，美团、腾讯控股涨超4%。 AI产业链股爆发 AI产业链股盘中大幅拉升，截至收盘， ...

2025.08. 13 本文字数：957，阅读时长大约2分钟 作者 | 一财资讯 8月13日，沪指突破3674.4点，日线八连阳，创近4年新高。截至收盘，沪指涨0.48%，深成指涨 1.76%，创业板指涨3.62%。 | 代码 | 现价 涨跌 涨跌幅 | | --- | --- | | 000001 上证指数 | 3683.46c 17.55 0.48% | | 399001 深证成指 >> | 11551.36c 199.73 1.76% | | 899050 北证50 | 1461.86c 12.23 0.84% | | 881001 万得全A | 5801.59c 58.53 1.02% | | 000688 科别20 | 1077.70c 7.89 0.74% | | 399006 创业板指 | 2496.50c 87.11 3.62% | | 000300 沪深300 | 4176.58c 32.75 0.79% | 沪深两市全天成交额2.15万亿元，较昨日大幅放量。 个股涨多跌少，全市场超2700只个股上涨。 盘面上看，液冷服务器、工业金属、PEEK材料、CPO、光刻机等板块涨幅居前，煤炭、银行、 ...

中国经济网北京8月13日讯 工业富联(SH:601138)今日股价涨停，截至收盘报43.68元，涨幅 10.00%，总市值8674.62亿元。 （责任编辑：康博） ...