全球洁净室工程需求快速增长，其中北美是未来潜力最大的市场 美国AI算力需求强劲，台积电Arizona P1厂订单饱满，台积电美国产能建设显著提速。2025年3月，台 积电宣布在美国追加1000亿美元投资，规划总投资上升至1650亿美元，估算剩余工程总投资将达到350 亿美元。随着北美CSP厂商加大资本开支、台积电加码投资美国，台系半导体产业链厂商亦跟随赴美。 由于投资强度陡然上升，此前参与建厂的主力供应商工作负荷已趋于饱和，而新工程师培养周期较长， 难以满足短期内激增的需求，订单溢出将成为必然趋势。 智通财经APP获悉，国信证券发布研报称，厂务及洁净室工程是AI算力全产业链扩产的刚需环节，洁净 室为精密产品生产提供各项环境指标受控的生产环境，是晶圆制造、芯片载板及封装、消费电子和服务 器组装等产能建设和数据中心建设的必要工程环节，厂务工程及洁净室投资通常占总投资的10-20%。 全球洁净室工程需求快速增长，其中北美是未来潜力最大的市场。由于投资强度陡然上升，此前参与建 厂的主力供应商工作负荷已趋于饱和，而新工程师培养周期较长，难以满足短期内激增的需求，订单溢 出将成为必然趋势。 国信证券主要观点如下： 厂务及 ...

证券研究报告 | 2025年10月16日 行业与公司 社会服务行业月报：连锁餐饮 10 月跟踪：优选性价比餐饮&茶饮龙头 建筑行业专题:洁净室工程专题报告-AI 基建的刚需环节，全球建设需求 快速增长 【常规内容】 宏观与策略 宏观快评:9 月进出口数据点评-硝烟再起，外贸逆势突围 宏观快评:通胀数据快评-PPI 环比连续两个月为 0 行业与公司 | 晨会纪要 | | --- | | 数据日期:2025-10-15 | 上证综指 | 深证成指沪深 | 300 指数 | 中小板综指 | 创业板综指 | 科创 50 | | --- | --- | --- | --- | --- | --- | --- | | 收盘指数（点） | 3912.20 | 13118.75 | 4606.28 | 14275.83 | 3776.30 | 1429.99 | | 涨跌幅度（%） | 1.21 | 1.73 | 1.48 | 1.62 | 2.06 | 1.39 | | 成交金额（亿元） | 9615.52 | 11113.06 | 6073.26 | 4039.48 | 4886.35 | 797.21 | 【重点推荐】 ...

国信证券近日发布洁净室工程专题报告：洁净室为精密产品生产提供各项环境指标受控 的生产环境，是晶圆制造、芯片载板及封装、消费电子和服务器组装等产能建设和数据中心 建设的必要工程环节，厂务工程及洁净室投资通常占总投资的10-20%。随着工业产品工艺 制程尺寸缩小对生产环境的要求持续提高，全球洁净室市场持续增长。 以下为研究报告摘要： 核心观点 厂务及洁净室工程是AI算力全产业链扩产的刚需环节 洁净室为精密产品生产提供各项环境指标受控的生产环境，是晶圆制造、芯片载板及封 装、消费电子和服务器组装等产能建设和数据中心建设的必要工程环节，厂务工程及洁净室 投资通常占总投资的10-20%。随着工业产品工艺制程尺寸缩小对生产环境的要求持续提 高，全球洁净室市场持续增长。 供应链安全和AI算力是驱动全球芯片扩产的两大核心因素 全球成熟制程芯片扩产由避险需求驱动，受中美脱钩影响，中国加速扩产成熟制程芯片 以加快国产替代，同时由于中国芯片供给风险抬升，外资厂商产能流向东南亚地区以寻求中 国的供给替代；全球先进制程芯片扩产由AI算力需求驱动，台积电掌握全球90%的先进制程 产能，正通过大额资本开支在中国台湾地区和美国推进产能扩张。 ...

2025年10月15日 证券研究报告 | 洁净室工程专题报告 AI基建的刚需环节，全球建设需求快速增长 行业研究 · 专题报告 建筑装饰·专业工程 投资评级：优于大市（维持） | 证券分析师：任鹤 | 证券分析师：朱家琪 | | --- | --- | | 010-88005315 | 021-60375435 | | renhe@guosen.com.cn | zhujiaqi@guosen.com.cn | | S0980520040006 | S0980524010001 | 请务必阅读正文之后的免责声明及其项下所有内容 核心观点 厂务及洁净室工程是AI算力全产业链扩产的刚需环节 Ø 洁净室为精密产品生产提供各项环境指标受控的生产环境，是晶圆制造、芯片载板及封装、消费电子和服务器组装等产能建设和数据中心建设的必要工程环节， 厂务工程及洁净室投资通常占总投资的10-20%。随着工业产品工艺制程尺寸缩小对生产环境的要求持续提高，全球洁净室市场持续增长。 供应链安全和AI算力是驱动全球芯片扩产的两大核心因素 投资建议：重点推荐圣晖集成、亚翔集成 请务必阅读正文之后的免责声明及其项下所有内容 Ø 圣晖集成：台资 ...

证券之星消息，10月14日专业工程板块较上一交易日下跌0.42%，亚翔集成领跌。当日上证指数报收于 3865.23，下跌0.62%。深证成指报收于12895.11，下跌2.54%。专业工程板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002140 东华科技 | | 3293.58万 | 5.45% | 164.81万 | 0.27% | -3458.39万 | -5.72% | | 003001 中岩大地 | | 2952.86万 | 11.00% | -695.25万 | -2.59% | -2257.61万 | -8.41% | | 603959 百利科技 | | 2354.20万 | 6.41% | -444.97万 | -1.21% | -1909.23万 | -5.20% | | 601096 宏盛华源 | | 2241.89万 | 14.17% | -1297.15万 | -8.2 ...

证券日报网讯亚翔集成（603929）10月9日在互动平台回答投资者提问时表示，截至2025年9月30日，公 司的股东数为12104户。 ...

Investment Rating - The report maintains an "Outperform" rating for the construction materials sector, indicating expected performance above the market index by more than 10% over the next 6 to 12 months [5][89]. Core Views - The introduction of the "Stabilization Growth Work Plan for the Building Materials Industry (2025-2026)" aims to enhance profitability and strengthen industry management, promoting a competitive environment [1][3]. - Cement prices have seen a significant increase of 1.5% recently, with expectations for further price hikes as companies strive to meet annual growth targets [2][22]. - The glass market is experiencing a slight price increase, supported by downstream replenishment, although demand acceptance at higher prices remains limited [2][37]. - The fiberglass market shows stable pricing for non-alkali yarn, while electronic yarn remains in high demand, indicating a robust market for high-end products [2][54]. Summary by Sections Cement - National cement prices have risen significantly, with a 1.5% increase noted. Companies are expected to continue pushing for price increases as the fourth quarter approaches [2][22]. - The report anticipates that cement companies will maintain upward price momentum to achieve annual growth targets [2][22]. Glass - Float glass prices have shown a slight increase, supported by replenishment from downstream sectors, although the acceptance of high prices is limited [2][37]. - The photovoltaic glass market has seen a slight decline in demand, with inventory levels increasing, but manufacturers are maintaining stable pricing strategies [2][45]. Fiberglass - The price of non-alkali yarn remains stable, with mainstream prices for 2400tex yarn at 3250-3700 CNY/ton, while electronic yarn prices are stable due to high demand in the high-end market [2][54]. Investment Recommendations - The report suggests focusing on the cement and glass sectors due to stricter supply controls and improving profitability. Recommended companies include Conch Cement, Huaxin Cement, and Qibin Group [3][5]. - For fiberglass, companies like China National Materials and China Jushi are highlighted as beneficiaries of structural demand growth [3][5]. - In the construction sector, a recovery in infrastructure investment is anticipated, with recommendations for companies such as China Railway Construction and China State Construction [3][5].

Core Insights - The professional engineering sector experienced a rise of 2.21% on September 30, with Shikong Technology leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Shikong Technology (605178) closed at 35.83, with a gain of 10.01% and a trading volume of 57,600 shares [1] - China Zhongzhi (601618) also saw a significant increase of 10.00%, closing at 3.85 with a trading volume of 4,899,700 shares [1] - Other notable performers included Roman Co. (605289) with a 6.11% increase, and Honglu Steel Structure (002541) with a 5.40% increase [1] Market Capital Flow - The professional engineering sector saw a net inflow of 409 million yuan from institutional investors, while retail investors experienced a net outflow of 262 million yuan [2] - The main stocks with significant net inflows included China Zhongzhi with 426 million yuan and Roman Co. with 77.27 million yuan [3] - Conversely, retail investors showed a net outflow from stocks like China Zhongzhi and Roman Co., indicating a shift in investment behavior [3]

Investment Rating - The industry rating is maintained at "Outperform the Market" [6] Core Viewpoints - The construction index decreased by 1.67%, while the CSI 300 index increased by 0.74%, indicating that the construction sector underperformed the market by 2.42 percentage points. The cleanroom sector is expected to benefit from the rising production expectations in the U.S. and the upcoming third-quarter reports, which may exceed expectations [1][2][3] - The cleanroom sector is experiencing renewed benefits due to U.S. policies that may require semiconductor companies to match domestic production with imports, potentially benefiting companies like TSMC and Micron Technology [2][13] - The construction sector in Sichuan is seeing a significant increase in new bids, with a total of 218 new projects worth approximately 72.2 billion yuan, a year-on-year increase of 22.20% [3][23] - The cement shipment rate and asphalt operating rate have rebounded, indicating a positive outlook for the conversion of physical workloads in construction projects [4][24] Summary by Sections Market Overview - The construction index fell by 1.67% from September 22 to September 26, while the CSI 300 index rose by 0.74%, with only the architectural design sub-sector recording a positive return of 1.02% [5][32] Investment Recommendations - Focus on infrastructure investment opportunities in regions with high growth potential, such as Sichuan, Xinjiang, and Tibet, as well as sectors like hydropower, coal chemical, and nuclear power [1][36] - Emphasize the cleanroom sector, particularly companies like Baicheng Co., Shenghui Integration, and Yaxiang Integration, which are expected to benefit from the ongoing semiconductor industry developments [17][38] Key Projects and Orders - Sichuan Road and Bridge has seen a significant increase in new bids, with a focus on major provincial projects and government special bond projects to accelerate construction progress [3][23] - The cleanroom sector's order volume remains robust, with Baicheng Co. and Shenghui Integration reporting significant year-on-year growth in new orders [18][19] Sector Performance - The cleanroom sector is expected to maintain a high level of activity, driven by domestic demand for new semiconductor production facilities and the ongoing transition of the semiconductor industry [17][21] - The construction sector is experiencing a structural recovery, with a focus on major transportation infrastructure projects and regional opportunities in high-demand areas [36][39]

Market Overview - On September 26, the professional engineering sector rose by 0.32% compared to the previous trading day, with Donghua Technology leading the gains [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Top Performers - Donghua Technology (002140) closed at 12.27, up 10.04%, with a trading volume of 549,800 shares and a transaction value of 656 million [1] - Shenghui Integration (603163) closed at 47.91, up 10.01%, with a trading volume of 54,300 shares and a transaction value of 251 million [1] - Yaxiang Integration (603929) closed at 44.78, up 6.29%, with a trading volume of 64,100 shares and a transaction value of 282 million [1] Market Capital Flow - The professional engineering sector saw a net inflow of 126 million from institutional investors, while retail investors experienced a net outflow of 12.29 million [2] - Major stocks in the sector showed varying levels of net inflow and outflow from different investor types [3] Individual Stock Performance - Donghua Technology had a net inflow of 14.21 million from institutional investors, while retail investors had a net outflow of 10 million [3] - Shenghui Integration experienced a net inflow of 62.13 million from institutional investors, with a net outflow of 39.47 million from retail investors [3] - Other notable stocks include Huasheng Huayuan (601096) with a net inflow of 21.90 million from institutional investors and a net outflow of 26.81 million from retail investors [3]