Core Viewpoint - The semiconductor industry index in China has shown mixed performance, with a slight increase recently but a decline over the past month and three months, indicating potential volatility in the sector [1][2]. Group 1: Index Performance - The Shanghai Composite Index rose by 0.38%, while the China Semiconductor Industry Index increased by 0.45%, closing at 8565.3 points with a trading volume of 25.338 billion yuan [1]. - Over the past month, the China Semiconductor Industry Index has decreased by 1.63%, and over the last three months, it has fallen by 6.31%. Year-to-date, it has risen by 1.57% [1]. Group 2: Index Composition - The China Semiconductor Industry Index tracks the overall performance of publicly listed companies in the semiconductor sector, covering areas such as materials, equipment, design, manufacturing, packaging, and testing [1]. - The index's top ten holdings include: SMIC (9.2%), Cambricon (7.64%), Northern Huachuang (7.52%), Haiguang Information (7.03%), Weir Shares (6.1%), Lattice Technology (4.86%), Zhaoyi Innovation (4.56%), Zhongwei Company (4.22%), Changdian Technology (2.6%), and Sanan Optoelectronics (2.41%) [1]. - The index's holdings are primarily listed on the Shanghai Stock Exchange (77.35%) and the Shenzhen Stock Exchange (22.65%) [1]. Group 3: Industry Breakdown - Within the index's sample holdings, integrated circuits account for 70.29%, semiconductor materials and equipment for 21.03%, discrete devices for 4.09%, optoelectronics for 2.41%, and electronic terminals and components for 2.18% [2]. Group 4: Related Funds - Public funds tracking the China Semiconductor Index include: Guotai CES Semiconductor Industry ETF Link A, Guotai CES Semiconductor Industry ETF Link C, Huaan CES Semiconductor Industry A, Huaan CES Semiconductor Industry C, Western Gain CES Semiconductor Industry Index Enhanced A, Western Gain CES Semiconductor Industry Index Enhanced C, and Guotai CES Semiconductor ETF [2].

登录新浪财经APP 搜索【信披】查看更多考评等级 上交所修订并发布《上海证券交易所科创板上市公司自律监管指引第1号——规范运作（2025年5月修 订）》，自发布之日起施行。该修订进一步规范科创板上市公司的运作行为，强化信息披露要求，优化 公司治理结构，提升市场透明度和合规性。 证监会发布《上市公司募集资金监管规则》，明确要求科创板上市公司募集资金应坚持专款专用，优先 用于主营业务，禁止用于永久补充流动资金或偿还银行借款。规则强调对擅自改变募集资金用途及使用 进度缓慢等行为从严监管，并要求上市公司及时披露募投项目延期情况，确保资金使用透明合规。 科创板政策及行业动态一览： l 科创板政策与行业动向： 证监会发布的《上市公司募集资金监管规则》对科创板市场影响深远，其明确要求科创板公司募集资金 必须专款专用、优先投入主营业务，严格禁止用于永久补流或偿贷，并强化对资金挪用、进度滞后等行 为的监管力度，同时要求及时披露募投项目延期信息。 这一政策直接针对科创板企业普遍存在的研发周期长、资金需求大等特点，通过限制资金用途并提升透 明度，既防止了企业通过"伪科创"概念套现或转移资金，又倒逼企业聚焦核心技术攻关和实体项目落 ...

Group 1 - The A-share market saw a collective rise in the three major indices, with the Shanghai Composite Index increasing by 0.38%, driven by gains in sectors such as leisure goods, office supplies, and daily chemicals, while ports and shipping sectors faced declines [1] - The chip technology stocks showed strong fluctuations, with the chip ETF (159995) rising by 0.41%, and notable increases in component stocks such as WenTai Technology (up 3.35%), Weir Shares (up 2.48%), and Zhaosheng Micro (up 1.68%) [1] Group 2 - The U.S. Department of Commerce officially announced the repeal of the Biden administration's AI diffusion rules and introduced three additional policy measures to strengthen global semiconductor export controls, specifically targeting Huawei's Ascend chips [3] - Xiangcai Securities emphasized the critical importance of independent AI chip development for the supply chain security of AI technology, highlighting the growing significance of domestic AI chip companies following NVIDIA's reduction of specifications for customized AI chips in China [3] - The chip ETF (159995) tracks the National Chip Index, comprising 30 leading companies in the A-share chip industry, including SMIC, Cambricon, Changdian Technology, and Northern Huachuang [3]

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Global AI computing power demand is surging, and China's intelligent computing power is rising rapidly. The global computing power layout is tilting towards high - performance computing, and China has formed a "smart computing - dominated, storage and transportation coordinated" computing power market [1][15]. - The AI market scale is expected to continue expanding. The global AI industry has entered a dual - acceleration period of technological explosion and scenario implementation. China is forming a competitive industrial pattern, and the market scale will expand at a compound annual growth rate of over 30% in the next five years [2][21]. - China's AI industry is at a strategic turning point. The open - source breakthrough of DeepSeek series models promotes the construction of an ecological closed - loop of "domestic models + domestic computing power", and China is moving from technology follow - up to ecological leadership [2][40]. - The Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence Index reflects the performance of the AI industry on the Science and Technology Innovation Board. It has good historical performance, high growth potential, and covers key AI - related industries [3][46][47]. - The Yin Hua Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence ETF provides investors with a low - cost and convenient investment tool to share the growth of the AI industry. It has a good performance and liquidity [4][61]. 3. Summary by Relevant Catalogs 3.1 Global AI Computing Power Demand Surges, China's Intelligent Computing Power Rises Rapidly - **Overall Scale**: The global AI computing power market is growing explosively. In 2024, the global AI server market size was $125.1 billion, expected to reach $158.7 billion in 2025 and $222.7 billion in 2028. The industry shows "centralized expansion and distributed application" characteristics [10]. - **Global Competitor**: NVIDIA dominates the global AI computing power chip market through a dual - drive model of "hardware architecture innovation + cloud - service ecosystem integration" [14]. - **Domestic Computing Power**: In 2024, China's intelligent computing power scale reached 725.3EFLOPS, a year - on - year increase of 74.1%, and the market size was $19 billion, a year - on - year increase of 86.9%. China has formed a "smart - computing - led, storage - and - transportation coordinated" development model, and future development will be policy - driven [15][19]. 3.2 AI Technology and Application Drive the Market Scale to Expand Continuously - **Industrial Development**: The global AI industry is in a dual - acceleration period. China's AI enterprises exceed 4,500, covering a complete chain. The "2025 Forbes China AI Technology Enterprises TOP 50" shows that the industry is in the stage of in - depth integration and large - scale implementation [21]. - **Policy Support**: The government promotes the development of AI application standards in various industries. For example, the "Artificial Intelligence Meteorological Application Service Measures" was issued to promote the application of AI in meteorology [29]. 3.3 Focus on Domestic and Overseas Conference Catalytic Nodes - **Overseas Conferences**: Google I/O Conference and Microsoft Build 2025 Conference are expected to showcase the latest AI breakthroughs, including model upgrades and application innovations [34]. - **Domestic Conferences**: The 5th International Conference on Computer Communication and Artificial Intelligence (CCAI2025) will be held to discuss emerging research directions in the field [38]. 3.4 Future Outlook: China's AI Industry is at a Strategic Turning Point - **Domestic Computing Power**: It will develop in a "layered and coordinated" way, with a "global - training + domestic - inference" model in the future two years. Edge computing and industry - specific models are the key breakthrough points [41]. - **Large Models**: AI large models are expanding to multiple modalities and being applied in various fields. Humanoid robots are expected to achieve large - scale mass production in 1 - 2 years [43]. - **Domestic Models**: The open - source of DeepSeek models will accelerate the formation of a "domestic models + domestic computing power" ecological closed - loop, driving the intelligent upgrade of the entire industry chain [44]. 3.5 Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence Index Shares the Results of AI Industry Development - **Index Composition**: It selects 30 stocks related to AI from the Science and Technology Innovation Board to reflect the overall performance of representative AI companies [46]. - **Historical Performance**: From 2023 to May 16, 2025, the cumulative increase was 66.54%, significantly outperforming the benchmark [47]. - **Stock Characteristics**: The constituent stocks are mainly small - and medium - cap, with high growth potential. The top 5 heavy - weighted stocks are Langqi Technology, Cambricon - U, Kingsoft Office, Xinyuan Co., Ltd., and Hengxuan Technology, and the index covers key AI - related industries [50][52][54]. - **Financial Indicators**: The constituent stocks' operating income has maintained high - speed growth for 5 consecutive years, and the net profit has also increased overall, with a significant acceleration in 2024 [57]. 3.6 Yin Hua Shanghai Stock Exchange Science and Technology Innovation Board Artificial Intelligence ETF and Linked Fund Product Information - **Product Information**: The ETF was established on January 6, 2025, and listed on January 14. It closely tracks the index, with an asset scale of $817 million and good liquidity. There are also three linked funds established on March 11, 2025 [61]. - **Fund Manager**: The fund manager is Tan Yuefeng, who has rich experience in fund management, currently managing 13 funds with a total scale of $9.5 billion [64][65].

从主力资金连续性进行观察，共有61只个股主力资金连续3个交易日以上持续净流入，连续净流入天数 最多的是瑞联新材、利扬芯片等2只股，主力资金均连续净流入11天。主力资金连续流出的个股有153 只，连续流出天数最多的是先锋精科，该股已连续23个交易日净流出；连续净流出天数较多的还有三达 膜、嘉元科技等，主力资金分别连续流出13天、11天。（数据宝） 主力资金净流入排名 | 代码 | 简称 | 主力资金净流入（万元） | 主力资金流入率（%） | 涨跌幅（%） | 换手率（%） | | --- | --- | --- | --- | --- | --- | | 688297 | 中无人机 | 10605.92 | 9.38 | 5.61 | 8.97 | | 688256 | 寒武纪 | 9228.28 | 4.15 | 0.59 | 0.80 | | 689009 | 九号公司 | 6284.70 | 10.20 | 2.35 | 1.73 | | 688052 | 纳芯微 | 5770.61 | 13.59 | -0.28 | 1.65 | | 688755 | C汉邦 | 5350.65 | 14.63 | ...

Market Performance - The market rebounded last week, with the China Securities Xinhua National Brand Index rising by 0.94% to 1666.03 points [1] - The Shanghai Composite Index increased by 0.76%, the Shenzhen Component Index by 0.52%, the ChiNext Index by 1.38%, and the CSI 300 Index by 1.12% [1] Strong Stock Performances - Notable strong performers in the brand index included BGI Genomics, which rose by 17.27%, and Yiling Pharmaceutical, which increased by 9.81% [1] - Other significant gainers included Stone Technology and Marubi Biological, which rose by 7.18% and 6.79%, respectively [1] Year-to-Date Stock Gains - Since the beginning of 2025, Marubi Biological has surged by 60.82%, leading the gains, followed by Shanghai Jahwa with a 46.72% increase and BGI Genomics with a 34.45% rise [2] - Other stocks with notable increases include Anji Technology, Xintai, and Weir Shares, each rising over 20% [2] Market Outlook - Institutions expect the market to refocus on domestic economic fundamentals, with a positive policy response anticipated [2][3] - The current market is viewed as being in a high cost-performance range, with significant policy support expected to stabilize the economy and market [2] Economic Data Focus - Attention is drawn to upcoming economic data, particularly export performance and the sustainability of the export supply chain recovery [3] - The prevailing market conditions are supported by policy measures and liquidity easing, which are expected to bolster the stability of the domestic economy and capital markets [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Views - The company achieved a revenue of 3.639 billion yuan in 2024, representing a year-on-year increase of 59.20%, and a net profit attributable to shareholders of 1.412 billion yuan, up 213.10% year-on-year [2][6] - In Q4 2024, the company reported a revenue of 1.068 billion yuan, a year-on-year increase of 40.43% and a quarter-on-quarter increase of 17.90%, with a net profit of 434 million yuan, up 99.72% year-on-year and 12.67% quarter-on-quarter [2][6] - For Q1 2025, the company expects to achieve a revenue of 1.222 billion yuan, a year-on-year increase of 65.78%, and a net profit of 510 to 550 million yuan, representing a year-on-year increase of 128.28% to 146.19% [2][6] Summary by Sections Financial Performance - In 2024, the company generated a total revenue of 3.639 billion yuan, with a gross profit of 2.115 billion yuan, resulting in a gross margin of 58% [17] - The revenue from interconnect chips reached 3.349 billion yuan, a year-on-year increase of 53.31%, with a gross margin of 62.66% [12][17] - The company’s R&D expenses for 2024 were 763 million yuan, accounting for 20.98% of total revenue [12][17] Product Performance - The interconnect chip revenue reached a historical high of 972 million yuan in Q4 2024, with a year-on-year increase of 40.27% [12][17] - The company benefited from the increasing penetration of DDR5 and the launch of new products, leading to significant growth in high-performance chips, which saw an 800% increase in revenue [12][17] Future Outlook - The company is expected to continue its growth trajectory, with projected net profits of 2.470 billion yuan, 3.176 billion yuan, and 3.890 billion yuan for 2025, 2026, and 2027 respectively [12][17] - The company is positioned as a leading player in the data processing and interconnect chip market, with a strong focus on R&D and product expansion [12][17]

Group 1 - Vanke A received a loan of 1.552 billion yuan from its largest shareholder, Shenzhen Metro Group, to repay the principal and interest of publicly issued bonds, with a loan term of 36 months and an annual interest rate of 2.34%, lower than the 1-year LPR [2] - Chengfei Integration announced that its stock has been on a six-day trading limit, confirming that there are no undisclosed significant matters affecting the company [3] - Dongpeng Beverage's shareholder, Kunpeng Investment, reduced its shareholding from 6.44% to 5.43%, a decrease of 1.01 percentage points, through trading activities [4] Group 2 - Baofeng Energy plans to repurchase shares worth between 1 billion and 2 billion yuan, with a maximum repurchase price of 22.80 yuan per share [7] - Huakayi Yibai announced that shareholders plan to reduce their holdings by up to 3% of the company's total shares [6] - China Pacific Insurance reported a 10.4% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 115.359 billion yuan [22]

Core Viewpoint - The announcement details an internal equity structure change within the shareholder group of Lankai Technology Co., Ltd., which does not involve any change in the ownership of the company's equity or trigger a mandatory tender offer [1][2]. Group 1: Equity Change Details - The equity change involves the withdrawal of a partner from Zhuhai Rongying Equity Investment Partnership (Limited Partnership) and the addition of a new general partner, Bai Xue, who will co-manage with existing partners [1]. - Zhuhai Rongying and its concerted parties hold a total of 94,369,962 shares, representing 8.24% of the company, with no changes in shareholding [1][2]. - The company maintains its status of having no controlling shareholder or actual controller, ensuring that the governance structure and operational continuity remain unaffected [1][2]. Group 2: Subsequent Matters - The equity change is classified as an internal restructuring and does not require the disclosure of an equity change report or any further obligations [2].

股东珠海融英股权投资合伙企业（有限合伙）保证向澜起科技股份有限公司 提供的信息内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、 准确性和完整性依法承担法律责任。 本公司董事会及全体董事保证公告内容与上述股东提供的信息一致。 重要内容提示： 证券代码：688008 证券简称：澜起科技 公告编号：2025-019 澜起科技股份有限公司 股东权益变动提示性公告 本次权益变动属于公司股东内部股权架构变动，不涉及股东持有公司权 益变动，亦不触及要约收购。 本次权益变动前后，珠海融英股权投资合伙企业（有限合伙）（以下简 称"珠海融英"）及其一致行动人 WLT Partners, L.P.（以下简称"珠海融英及其 一致行动人"）合计持有公司股份为 94,369,962 股，占比 8.24%，均未发生变动。 公司无控股股东、实际控制人，本次权益变动后不会导致公司无控股股 东、无实际控制人的情形发生变化，不会导致公司第一大股东发生变化，亦不会 对公司治理结构及持续性经营产生不利影响。 一、本次权益变动基本情况 澜起科技股份有限公司（以下简称"公司"或"澜起科技"）于 2025 年 5 月 14 日收到股东珠海融英 ...