Core Viewpoint - The integrated circuit ETF (562820) has shown positive performance with a 0.98% increase at the opening on August 18, 2023, indicating strong investor interest in the sector [1] Group 1: ETF Performance - The integrated circuit ETF (562820) opened at 1.846 yuan, reflecting a 0.98% increase [1] - The ETF's performance benchmark is the CSI All-Share Integrated Circuit Index return [1] - Since its inception on April 12, 2024, the ETF has achieved a return of 83.07%, with a monthly return of 14.53% [1] Group 2: Major Holdings - Key stocks in the ETF include: - SMIC (中芯国际) up 1.81% - Haiguang Information (海光信息) up 0.74% - Cambricon (寒武纪) up 2.88% - OmniVision (豪威集团) up 0.36% - Lattice Semiconductor (澜起科技) up 0.02% - GigaDevice (兆易创新) up 0.35% - JCET (长电科技) up 2.34% - Unisoc (紫光国微) up 0.75% - Chipone (芯原股份) up 2.69% - Rockchip (瑞芯微) unchanged [1]

Group 1 - The core point of the article is that Rockchip Electronics Co., Ltd. has applied for a patent related to a method for initial system startup operation, which includes accessing a memory management unit page table and enabling high-speed data caching [1] - The patent application was filed on April 2025, and the publication number is CN120492041A [1] - The company is based in Fuzhou and was established in 2001, primarily engaged in software and information technology services [1] Group 2 - Rockchip Electronics has a registered capital of 417.928 million RMB [1] - The company has made investments in 5 enterprises and participated in 18 bidding projects [1] - Rockchip holds 1230 patent information entries and has 57 trademark information entries [1]

Group 1 - The company, Rockchip, announced that it will hold a semi-annual performance briefing for 2025 on August 22, 2025, from 15:00 to 16:00 at the Shanghai Stock Exchange Roadshow Center [2] - The meeting will be conducted in an interactive text format online [2] - Key attendees will include the company's board members and relevant staff, such as the CFO and independent directors [2]

Core Viewpoint - The Integrated Circuit ETF (159546) opened with a slight decline of 0.21%, indicating a mixed performance in the semiconductor sector [1] Group 1: ETF Performance - The Integrated Circuit ETF (159546) opened at 1.446 yuan [1] - Since its establishment on October 11, 2023, the fund has achieved a return of 45.49% [1] - The fund's return over the past month is reported at 12.16% [1] Group 2: Major Holdings Performance - Major holdings in the ETF include: - SMIC (中芯国际) down 0.51% [1] - Haiguang Information (海光信息) down 1.61% [1] - Cambrian (寒武纪) down 2.74% [1] - OmniVision (豪威集团) down 0.68% [1] - Lattice Semiconductor (澜起科技) up 1.15% [1] - GigaDevice (兆易创新) down 0.83% [1] - JCET (长电科技) down 0.43% [1] - Unisoc (紫光国微) down 0.16% [1] - Chipone (芯原股份) down 0.47% [1] - Rockchip (瑞芯微) down 0.89% [1]

Core Viewpoint - The company, Rockchip Electronics Co., Ltd., will hold a half-year performance briefing on August 22, 2025, to discuss its operational results and financial status for the first half of 2025, addressing common investor concerns [2][3][4]. Group 1: Meeting Details - The meeting is scheduled for August 22, 2025, from 15:00 to 16:00 [4]. - It will take place at the Shanghai Stock Exchange Roadshow Center, accessible online [4]. - The format will be an interactive text-based session, allowing for real-time communication with investors [3][5]. Group 2: Participation Information - Investors can participate by logging into the Shanghai Stock Exchange Roadshow Center on the meeting day [5]. - Questions can be submitted from August 15 to August 21, 2025, through the Roadshow Center's website or via the company's email [5][6]. - The company will respond to questions regarding its operational results and financial conditions during the briefing [3][5]. Group 3: Contact Information - The contact for inquiries is the company's Securities Investment Department, reachable at phone number 0591-86252506 and email ir@rock-chips.com [6][7].

证券代码：603893 证券简称：瑞芯微 公告编号：2025-060 瑞芯微电子股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 8 月 22 日（星期五）下午 15:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） （一）会议召开时间：2025 年 8 月 22 日（星期五）下午 15:00-16:00 （二）会议召开地点：上证路演中心（网址：https://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络文字互动 1 三、参加人员 会议召开方式：上证路演中心网络文字互动 投资者可于 2025 年 8 月 15 日（星期五）至 8 月 21 日（星期四）下午 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@rock-chips.com ...

Core Viewpoint - The artificial intelligence (AI) sector is experiencing significant growth, as evidenced by the strong performance of the China Securities Artificial Intelligence Industry Index and related ETFs, indicating a bullish market sentiment towards AI investments [1][3][4]. Market Performance - As of August 14, 2025, the China Securities Artificial Intelligence Industry Index rose by 1.49%, with notable gains from individual stocks such as Cambricon (12.33%) and Hearta (10cm limit up) [1]. - The AI ETF (515980) increased by 1.32%, achieving a nearly 8.52% rise over the past week [1][3]. - The AI ETF's trading volume reached 1.73 billion yuan, with a weekly average trading volume of 2.84 billion yuan [3]. ETF Characteristics - The AI ETF closely tracks the China Securities Artificial Intelligence Industry Index, which is designed to provide a comprehensive and balanced exposure to 50 high-growth AI stocks [3]. - The index uniquely balances infrastructure (50%) and application layers (50%), covering the entire AI industry chain and aligning with domestic AI application trends [3][4]. Investment Strategy - Recent reports suggest focusing on three main investment lines within the AI sector: 1. Core components such as domestic computing power and high-end chips [4]. 2. Leading companies in overseas computing infrastructure and AI subscription models [4]. 3. AI application leaders with monetization capabilities [4]. Index Performance - Since the upgrade of the artificial intelligence industry index on July 29, 2025, it has risen by 13.1%, outperforming a simple market-cap weighted index by 3.9% [7]. - Year-to-date, the AI index has increased by 35.7%, exceeding the simple market-cap weighted index by 7.1% [7]. - The index includes sectors with verified growth potential, such as AIGC applications and domestic computing, each holding a weight of 20%-25% [7]. Investment Options - Investors can consider the HuaFu AI ETF linked funds (Class A 008020, Class C 008021) to gain exposure to high-growth potential companies in the AI sector [7].

Group 1 - The AI chip sector is leading the market with an increase of 2.26% [1] - Companies such as Cambricon Technologies saw a rise of 4.25%, while Haiguang Information increased by 4.19% [1] - Youbuxun experienced a growth of 2.79%, and both Rockchip and Ropute rose by over 2% [1]

Core Viewpoint - The Chinese semiconductor industry is experiencing a unique form of "non-typical involution," characterized by structural imbalances rather than traditional overcapacity, where high-quality production is in short supply while low-level, homogeneous production intensifies market competition [1][3]. Group 1: Industry Expansion and Capacity - The semiconductor industry in China is expanding rapidly, with a projected 15% increase in chip manufacturing capacity in 2024, reaching 8.85 million wafers per month, driven by the launch of 18 new semiconductor fabs [2]. - The global capacity is also expected to grow by 6% in the same year, with domestic foundries becoming the main contributors to mature process capacity increases by 2025 [2]. Group 2: Quality vs. Quantity - Despite rapid capacity expansion, there is a mismatch in effective supply growth, leading to excessive competition in low-level segments while high-quality capacity remains severely lacking [3]. - High-end production facilities are operating at full capacity, with SMIC reporting a capacity utilization rate of 89.6% in Q1 2025, and Hua Hong Semiconductor indicating near full production for 2024 [3]. Group 3: Market Dynamics and Challenges - The semiconductor industry's involution is primarily due to severe technological homogenization, imbalanced capacity expansion, and a lack of industry chain collaboration, particularly in low-end segments like mature process chips [3][4]. - The SiC substrate market is facing a downturn, with a projected 9% revenue decline in 2024 due to weakened demand and intensified competition, prompting companies like Tiantong to pause related projects [4]. Group 4: Strategic Responses - Companies are exploring paths to break free from low-level competition by shifting focus from price wars to differentiated innovation and ecosystem collaboration [4][5]. - For instance, Rockchip is concentrating on core technologies in audio, video, and perception, aiming to build a differentiated platform for new production capabilities [5][6]. Group 5: Structural Optimization - To resolve the non-typical involution, a structural optimization across the industry is necessary, emphasizing the distinction between market competition and low-end involution [7]. - The proposed "dislocated competition" strategy suggests that state-supported "national teams" focus on high-tech challenges, while local government-backed firms target promising niche markets, allowing market-driven companies to compete in the mature process sector [7][8].

Group 1 - The A-share market showed mixed performance on August 14, with the Shanghai Composite Index rising by 0.43%, driven by gains in the real estate, non-bank financial, and food and beverage sectors, while defense and comprehensive sectors lagged behind [1] - The semiconductor sector, particularly chip technology stocks, performed strongly, with the Chip ETF (159995.SZ) increasing by 2.75% and notable individual stock performances including Haiguang Information up by 8.35% and Cambrian up by 7.21% [1] - TSMC projected that the global semiconductor market will reach a size of $1 trillion by 2030, with AI leading a new growth cycle, and HPC/AI terminal markets expected to account for 45% of the semiconductor market by that year [1] Group 2 - Guosheng Securities highlighted the opportunities in the domestic advanced packaging supply chain, noting that advanced packaging technology is driving an upgrade in the global testing and packaging industry, particularly due to strong demand from HPC and AI [1] - The domestic integrated circuit manufacturing and packaging processes have seen continuous breakthroughs and improvements in technology levels, with local equipment and material suppliers accelerating product development and customer integration [1] - The Chip ETF (159995) tracks the Guozheng Chip Index, which includes 30 leading companies in the A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing, such as SMIC and Cambrian [2]