GB300 正式出货，全球 AI 景气度延续。7 月 3 日，CoreWeave 与戴尔科技联 合宣布，首批部署英伟达 GB300 NVL72 AI 系统已上线，面向客户开放使用。 本次部署的系统采用戴尔液冷服务器，内建 72 个英伟达 Blackwell Ultra GPU 和 36 个英伟达 Grace CPU。CoreWeave 计划在今年内持续扩大 Blackwell Ultra 服务器的部署规模，以满足客户不断增长的 AI 计算需求。 沃尔核材 224G 高速通信线开始量产，新亚电子实现高速铜缆制造技术突破。 （1）7 月 2 日，沃尔核材宣布单通道 224G 高速通信线已实现量产；多通道 1.6T 高速通信线已完成重要客户的验证。目前，公司高速通信线的部分关键 设备已到货并投产，后续仍会有多台设备陆续到货。（2）6 月 30 日，新亚 电子表示其和安费诺联合研发的 224G/448G 藕芯结构解决方案，具有更好的 信号传输性能，摆脱了对国外进口铁氟龙发泡设备和专用发泡原材料的依 赖，可广泛应用于数据中心 224G/448G 高速铜缆以及服务器内部 PCIe Gen6/Gen7 高速铜缆等产品的制造 ...

Core Viewpoint - The article discusses the recent fluctuations in the A-share market, highlighting the impact of U.S.-Vietnam trade agreements and the performance of specific sectors, particularly consumer electronics and innovative pharmaceuticals. Market Overview - The A-share market experienced a rebound, with the Shanghai Composite Index rising by 0.18%, the Shenzhen Component Index increasing by 1.17%, and the ChiNext Index up by 1.9% [5] - The total market turnover was 13,336 billion, a decrease of 716 billion from the previous day, with over 3,200 stocks rising [5] - A total of 66 stocks hit the daily limit up, with 14 stocks achieving consecutive limit ups, the highest being six consecutive limit ups [5] Sector Performance - The consumer electronics sector saw a collective surge, with stocks like Industrial Fulian, New Asia Electronics, and Chaoyang Technology hitting the daily limit up [5] - The PCB sector also rebounded, with stocks such as Zhongjing Electronics, Bomin Electronics, and Yihua New Materials reaching the daily limit up, driven by speculation on future demand for AI-PCB [5] - Innovative pharmaceutical stocks continued their strong performance, with companies like Guosheng Tang and Changchun High-tech also hitting the daily limit up [5] Trade Policy Impact - The U.S. has lifted restrictions on EDA and ethane exports to China, while Trump announced a trade agreement with Vietnam, which will impose a 20% tariff on Vietnamese exports to the U.S. [1][2] - This policy shift is seen as beneficial for consumer electronics companies with operations in Vietnam, such as Luxshare Precision, which had previously invested in production capacity there [2] Investment Trends - Morgan Stanley's MSCI China Index has risen by 32% over the past year, indicating a recovery in consumer spending and addressing overcapacity issues [7] - The article notes that the current market environment is conducive to a potential supply-side reform, with a focus on key sectors such as automotive, materials, and technology [8][9] Capital Market Dynamics - The article highlights that despite the return to average price-to-earnings ratios, the equity risk premium remains high, suggesting that the Chinese stock market is still undervalued [9] - The low interest rates are expected to continue, with predictions of further rate cuts, which could lead to a shift in investment towards growth stocks as overall return on equity improves [9]

Group 1: Pharmaceutical Sector - Several pharmaceutical companies have shown significant stock performance, with notable increases in share prices attributed to innovations in drug development and AI integration. For instance, Seli Medical has achieved a 9.99% increase over three consecutive days, while Chengyi Pharmaceutical has seen a 10.05% rise over two days [2][3]. - New entrants like Shenzhou Cell and Weiming Pharmaceutical have also recorded impressive gains, with Shenzhou Cell rising by 19.99% on its first trading day [2][3]. Group 2: PCB and Chip Industry - The PCB sector is experiencing a surge, with companies like Zhongjing Electronics and Bomin Electronics reporting significant stock increases of 10.01% and 10.04%, respectively. Zhongjing Electronics has maintained a strong performance with 12 days of trading and 7 consecutive gains [5][6]. - The NAND Flash market has seen a price index increase of 9.2%, while the DRAM market has surged by 47.7% since the beginning of 2025, indicating a robust demand for memory chips [7]. Group 3: Solid-State Battery and Marine Economy - The solid-state battery sector is gaining attention, with companies like Dadongnan and Hongtian Co. showing stock increases of 9.95% and 10.02%, respectively, as the Fourth Solid-State Battery Conference approaches [9]. - The marine economy is being bolstered by government initiatives, with companies like Jushi and Nanshan Holdings seeing stock increases of 9.94% and 10.07% as a result of policy support for ocean economic development [10][11]. Group 4: Commercial Aerospace and Photovoltaics - The commercial aerospace sector is witnessing growth, with companies like Xice Testing and Leike Defense reporting stock increases of 20.00% and 10.04%, respectively, following the establishment of a satellite manufacturing hub in Hainan [14][15]. - In the photovoltaic sector, companies are responding to supply-demand imbalances, with glass manufacturers planning to reduce production by 30%, leading to stock increases for firms like Yamaton and Yao Pi Glass [16][17]. Group 5: Digital Currency and AI Servers - The digital currency market is set to expand as Hong Kong begins accepting stablecoin license applications, with companies like Zhongjia Bochuang and Jinyi Culture seeing stock increases of 10.11% and 9.94% [26][28]. - The AI server market is preparing for the launch of the next-generation chip GB300 by Nvidia, with companies like Industrial Fulian and Xinya Electronics reporting stock increases of 10.02% and 10.01% [20][21]. Group 6: Home Appliances and Performance Recovery - The home appliance sector is benefiting from increased demand, particularly in air conditioning, with Haier reporting a 30% year-on-year sales increase in Europe [24][25]. - A general recovery in performance is noted across various sectors, with companies in pharmaceuticals, consumer electronics, and automotive parts showing improved earnings forecasts [22][23].

从国内行业内量产的最先进224G高速铜缆制造工艺看，铜缆制造厂商普遍选择了国外制造的铁氟龙发 泡押出设备，但由于国外的铁氟龙发泡押出机年产量仅十几台，单台售价高达1000多万元人民币，且物 理发泡工艺存在废品率偏高、发泡铁氟龙材料来源不稳定，以及设备售后服务依赖性等不利因素，制约 着高速铜缆产能的扩张。 为了排除铁氟龙发泡设备及绝缘材料制约，安费诺与新亚电子技术团队共同研发的藕芯结构的高速铜 缆，抛开传统的发泡工艺，为高速铜缆制造提供了新型解决方案。其藕芯结构高速铜缆在PCle系列产品 已实现规模量产，新技术的可靠性、稳定性、以及批量生产的可行性得到了验证。 新亚电子表示，随着数据中心的快速发展，高速铜缆的需求日益旺盛，藕芯结构方案将有助于拓展行业 制造产能，将逐步成为物理发泡外的另一种主流技术方案。 资料显示，新亚电子成立于1987年，是以电子线缆研发制造为核心业务的高新技术企业，其主营业务涵 盖精密电子线、通信光缆、新能源汽车线缆等产品，产品广泛应用于家用电器、计算机、智能化办公、 工业控制设备、汽车电子、数据服务器及新能源科技等领域。目前，新亚电子累计获得授权发明专利31 项，实用新型专利164项，终端 ...

Core Insights - The AI server market is experiencing significant growth, driven by advancements in technology and increasing demand for AI applications [3][4] - Major companies like Quanta Computer are actively involved in the development and testing of next-generation AI server chips, indicating a competitive landscape [3] Group 1: Market Performance - On July 3, notable stock performances included Industrial Fulian rising over 8% and Huajin Technology increasing by 5% [1] - New Asia Electronics saw a price increase of 10.01%, with a market capitalization of 57.96 billion [2] - Industrial Fulian's latest price was 22.91, with a market cap of 4549.51 billion [2] - Huajin Technology's stock price reached 81.92, with a market cap of 468.12 billion [2] Group 2: Industry Developments - Goldman Sachs has raised its forecast for the shipment of AI servers, with expectations for high-performance AI servers like H200 and B200 to reach 525,000 and 527,000 units by 2025 and 2026, respectively [4] - The global AI server shipment is projected to reach 1.811 million units this year, marking a year-on-year growth of 26.29%, with high-end AI servers expected to see a 40% increase [4] - The global server market is anticipated to grow from $216.4 billion in 2024 to $332.87 billion by 2028, with a compound annual growth rate (CAGR) of 18.8% [4] Group 3: Cost Structure - In AI servers, GPU costs can account for nearly 70% of the total cost, significantly higher than other components [5] - Upgrading from standard servers to AI training servers results in substantial increases in the value of components such as memory, SSDs, and power supplies [5]

消费电子板块持续攀升，新亚电子（605277）、朝阳科技（002981）涨停，工业富联（601138）涨超 8%，硕贝德（300322）、蓝思科技（300433）涨幅居前。 暗盘资金正涌入这些股票，点击速看>>> ...

Market Overview - On June 27, the Shanghai Composite Index fell by 0.70%, with institutional investors appearing on the trading lists of 27 stocks, net buying 17 and net selling 10 [1] - Institutional special seats recorded a total net sell of 1.274 billion yuan, marking the fourth consecutive day of net selling [1] Institutional Trading - The stock with the highest net buying by institutional seats was Heertai, which closed at the daily limit with a trading volume of 2.392 billion yuan and a turnover rate of 13.08%. The net buying amounted to 116.27 million yuan [2] - Jida Zhengyuan saw a decline of 7.67% with a turnover rate of 38.72%, resulting in a net outflow of 27.9 million yuan [2] - New Henghui increased by 14.00% with a turnover rate of 58.45%, leading to a net inflow of 59.6 million yuan [2] Performance Analysis - Stocks with net institutional buying averaged an increase of 8.83%, outperforming the Shanghai Composite Index. Notable performers included Tailong Co. and Zhongguang Fanglei, which both closed at the daily limit [3] - Historical data indicates that stocks with net institutional buying have a 53.01% probability of rising the next day and a 46.62% probability of increasing over the next three days [3] Earnings Forecast - Among the stocks with net institutional buying, only one has released a half-year earnings forecast, predicting a net profit increase of 4.59% for New Henghui, with a median net profit estimate of 106 million yuan [3] Notable Stocks - The stock with the highest net selling was Xiaoshangpin City, which saw a decline of 9.89% and a net outflow of 1.806 billion yuan [3] - New Asia Electronics was also notable, with a net outflow of 80.86 million yuan despite a price increase of 10.02% [3] Stock Connect Activity - On June 27, 14 stocks on the trading list had participation from the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connect, with Xiaoshangpin City and Hengbao Co. seeing net purchases of 806 million yuan and 115 million yuan, respectively [7] - The stocks with the highest net buying from the Stock Connect included Xiaoshangpin City and Heertai, while notable net selling stocks included Shandong Molong and Huaren Health [7][8]

Market Performance - As of June 27, the F5G concept index rose by 1.66%, ranking 9th among concept sectors, with 29 stocks increasing in value [1] - Notable gainers included New Asia Electronics, which hit the daily limit, and other stocks like Zhongji Xuchuang and ST Tiexin, which rose by 6.71%, 4.59%, and 4.46% respectively [1] - Conversely, stocks such as Shanghai Port Group, StarNet RuiJie, and MeiAnSen experienced declines of 1.20%, 0.75%, and 0.53% respectively [1] Capital Flow - The F5G concept sector saw a net inflow of 921 million yuan, with 21 stocks receiving net inflows, and 5 stocks attracting over 50 million yuan each [2] - Zhongji Xuchuang led the net inflow with 546 million yuan, followed by Tai Chen Guang and New Asia Electronics with net inflows of 147 million yuan and 132 million yuan respectively [2] Stock Performance - In terms of capital inflow ratios, New Asia Electronics, Zhao Chi Co., and Skyworth Digital had the highest net inflow rates at 17.30%, 14.19%, and 13.88% respectively [3] - The top performers in the F5G concept based on daily change and capital flow included Zhongji Xuchuang (6.71% increase), Tai Chen Guang (3.60% increase), and New Asia Electronics (10.02% increase) [3][4]

Core Viewpoint - The copper cable high-speed connection concept has seen a significant increase of 3.22%, leading the concept sector in gains, with 39 stocks rising, including notable performers like Chuangyitong and New Asia Electronics reaching their daily limit up [1] Group 1: Market Performance - The copper cable high-speed connection concept ranked first in daily gains among concept sectors, with a rise of 3.22% [1] - Key stocks in this sector include Chuangyitong with a 20% limit up, New Asia Electronics also hitting the limit up, and other notable gainers such as Honglin Electric and Jintian Co., which rose by 11.62% and 6.05% respectively [1] - Other concept sectors with notable performance include Metal Zinc (3.11%), Metal Lead (2.55%), and Flexible DC Transmission (1.76%) [1] Group 2: Fund Flow - The copper cable high-speed connection concept attracted a net inflow of 909 million yuan, with 28 stocks receiving net inflows [1] - Leading the net inflow was Luxshare Precision with 156 million yuan, followed by Taicheng Light, New Asia Electronics, and Wolong Nuclear Materials with net inflows of 147 million yuan, 132 million yuan, and 127 million yuan respectively [1] - New Asia Electronics, Chuangyitong, and Zhongtian Technology had the highest net inflow ratios at 17.30%, 9.75%, and 7.93% respectively [2]

4月29日公司发布的一季报数据显示，一季度公司共实现营业收入8.82亿元，同比增长27.39%，实现净 利润4726.74万元，同比增长18.82%。（数据宝） 新亚电子6月27日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 华鑫证券有限责任公司上海云锦路证券营业部 | 2127.61 | | | 买二 | 联储证券股份有限公司杭州西湖桃源岭证券营业部 | 1345.49 | | | 买三 | 华鑫证券有限责任公司上海红宝石路证券营业部 | 1279.68 | | | 买四 | 中泰证券股份有限公司常州惠国路证券营业部 | 1271.90 | | | 买五 | 瑞银证券有限责任公司上海浦东新区花园石桥路第二证券 营业部 | 1203.71 | | | 卖一 | 机构专用 | | 7383.13 | | 卖二 | 上海证券有限责任公司温州乐清伯乐东路证券营业部 | | 727.12 | | 卖三 | 机构专用 | | 703.30 | | 卖四 | 信达证券股份有限公司长沙 ...