8月18日，科创芯片ETF富国（588810）开盘涨1.61%，报1.260元。科创芯片ETF富国（588810）重仓股 方面，中芯国际开盘涨1.81%，海光信息涨0.74%，寒武纪涨2.88%，澜起科技涨0.02%，中微公司涨 0.77%，芯原股份涨2.69%，沪硅产业涨1.00%，恒玄科技涨0.65%，思特威涨0.14%，华海清科涨 0.06%。 来源：新浪基金∞工作室 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 科创芯片ETF富国（588810）业绩比较基准为上证科创板芯片指数收益率，管理人为富国基金管理有限 公司，基金经理为张圣贤，成立（2024-12-30）以来回报为23.84%，近一个月回报为16.20%。 ...

Market Overview - The AI and robotics sectors experienced a strong rally, with the Huaxia Sci-Tech AI ETF (589010) closing up 1.20% and a 5-day increase of 6.14% [1] - Among the 30 component stocks, 28 saw gains, with Lanke Technology leading at 4.56% and Stone Technology rising 4.03% [1] - The Robotics ETF (562500) rose by 2.13%, with a significant increase in trading volume, totaling 1.695 billion yuan [1] - The latest scale of the Robotics ETF reached 17.078 billion yuan, setting a new record [1] Key Developments - The Zhiyuan Expedition A2 humanoid robot successfully completed a 24-hour live stream challenge in high temperatures, marking a global first for autonomous long-duration walking in such conditions [2] - The Shenzhou 20 crew utilized the "Wukong AI" model during a 6.5-hour extravehicular activity, enhancing operational support for astronauts [2] - The "Embodied Tiangong Ultra" robot won the championship in the 100-meter sprint at the first humanoid robot sports event, clocking in at 21.50 seconds [2] Institutional Insights - Guojin Securities anticipates a surge in applications for robots with simple movements but high flexibility in the third and fourth quarters of this year, with a gradual increase in efficiency expected through data and model optimization [3] - The logistics, apparel, and healthcare sectors are seeing increased participation from application enterprises, supported by favorable policies [3] Popular ETFs - The Robotics ETF (562500) is the only fund in the market with a scale exceeding 10 billion yuan, offering the best liquidity and comprehensive coverage of the Chinese robotics industry [4] - The Huaxia Sci-Tech AI ETF (589010) is positioned as the brain of robotics, capturing the "singularity moment" in the AI industry with a 20% fluctuation range and small-cap elasticity [4]

Summary of the Conference Call for 蓝箭科技 (Blue Arrow Technology) Company Overview - 蓝箭科技 specializes in interconnected chips, including memory interface chips and AI server-related chips, with a solid market position serving major clients like Samsung, SK Hynix, and Micron Technology [2][3] Key Financial Performance - Revenue growth from 700 million to 3.9 billion from 2018 to 2024, with a compound annual growth rate (CAGR) exceeding 13% [2][5] - Interconnected chips contributed 92% of total revenue, while server sales accounted for the remaining 8% [5] - Interconnected chip revenue increased from 1.7 billion to 3.3 billion, with a CAGR of nearly 70% [6] - Server business revenue grew from 9 million to 280 million, with a CAGR of approximately 77% [6] Market Trends and Opportunities - The global server market is expected to grow, with AI server shipments projected to exceed 2 million units by 2026, reflecting a CAGR of nearly 30% [2][8] - DDR5 memory interface chip shipments have surpassed DDR4, benefiting from the acceleration of global computing infrastructure and AI applications [2][7] Product Development and Technology - 蓝箭科技 has been a key supplier in the DDR memory interface and module support chip sector, with a focus on DDR5 technology [7] - The transition from DDR3 to DDR5 has significantly increased transmission rates and capacities, enhancing product demand [9][10] - The company is strategically investing in high-performance AI chips such as Retimer, MRCD, and MDB, leading to substantial revenue and net profit growth [11] Shareholder Structure - The company has a dispersed shareholding structure with no controlling shareholder; the largest shareholders include Hong Kong Central Clearing Limited (7.66%), China Electronics Investment Holdings (5.37%), and Zhuhai Rongying (4.86%) [4] Future Performance Expectations - Projected total revenue for 2025, 2026, and 2027 is expected to be 5.5 billion, 7.4 billion, and 9 billion respectively, with year-on-year growth rates of 51%, 34%, and 22% [17] - Expected net profits for the same years are 2.2 billion, 3 billion, and 3.7 billion, with growth rates of 56%, 37%, and 24% respectively [17] Additional Insights - The shift towards DDR5 memory is driving demand for memory interface chips, with cloud service providers increasingly favoring DDR5 due to its higher bandwidth and lower power consumption [12][13] - The company has made significant advancements in R&D and market positioning, maintaining a leading industry status with comprehensive coverage from DDRx to DDRx+ series [15][16]

Investment Rating - The industry rating is "Recommended" [5] Core Insights - The domestic chip industry is experiencing significant advancements, with Huawei's Pura80 series featuring the Kirin 9020 processor, showcasing supply chain breakthroughs and technological confidence [13][26] - The tightening of policies regarding high-performance chips in the U.S. is accelerating the development of domestic AI chips and computing infrastructure in China [14][45] - The report highlights various investment opportunities across sectors such as computing leasing, AI power, AI chips, IDC, green energy, and Huawei server-related companies [15] Summary by Sections Domestic Computing Power: Multi-Dimensional Layout Building Core Competitiveness in the Intelligent Era - In August 2025, the domestic chip sector achieved substantial results, with Huawei's Pura80 series upgrading to the Kirin 9020 processor, indicating a significant leap in performance and supply chain stability [13][26] - The new generation C86 processor from Haiguang Information shows comprehensive performance improvements and plans for full-stack capability integration [13][36] - The C6P series CPU launched by Lanke Technology demonstrates significant advantages in performance and competitiveness, contributing to the upgrade of domestic computing infrastructure [13][42] Policies on High-Performance Chips Tightening, Accelerating the Improvement of Domestic Systems - The U.S. has tightened security reviews on high-performance GPUs, impacting companies like NVIDIA, which has faced scrutiny and new export conditions [14][45] - The domestic market is increasingly demanding self-controlled computing power, leading to a shift in policy and capital towards domestic AI chip manufacturers [14][45] Investment Recommendations - Beneficial stocks include: - Computing leasing: Youfang Technology, Hongjing Technology, Xiechuang Data - AI power: Zhongheng Electric, Maigemi Te, Oulutong - AI chips: Hanwujing, Haiguang Information, Chip Origin - IDC: Runze Technology, Runjian Shares, Dawi Technology - Green energy: Yingfeng Environment, Langxin Group, Guoneng Rixin - Huawei server-related: Gaoxin Development, Tuowei Information, Huasheng Tiancai, Ruantong Power [15]

Group 1 - Alibaba's Tongyi Qianwen is upgrading multiple products, with the Qwen-Image photo editing model set to launch soon [1] - Tencent Cloud has introduced CloudBase AI CLI, which can reduce coding workload by 80% [1] - Tencent's Mixuan 3D World Model 1.0 has released a Lite version [1] Group 2 - Lianqi Technology has launched the new sixth-generation Zindai® performance core CPU, designed to provide computing power for data centers and AI [1] - Keli AI is evolving with the upcoming release of the 2.1 model, which will feature "movie-level" start and end frame functionality [1]

Core Insights - The launch of the sixth-generation Jindai® performance core CPU (C6P) by the company marks a significant advancement in high-performance computing and security needs, targeting data centers, AI, cloud computing, and critical industry infrastructure [1][2] - The C6P features a cutting-edge architecture with support for up to 86 high-performance cores and 172 threads, along with a maximum L3 cache capacity of 336MB, enhancing computing power for high-density scenarios [1][2] - The company has become the largest memory interconnect chip supplier globally, holding a 36.8% market share in 2024, and is recognized as a leading provider of PCIe Retimer solutions [3] Product Features - C6P supports 88 PCIe® 5.0 lanes and is compatible with CXL® 2.0 protocol, providing exceptional connectivity bandwidth for accelerators like GPUs and FPGAs [2] - The CPU maintains compatibility with the existing X86 development ecosystem, allowing seamless migration of current applications without modification, thus reducing upgrade costs and complexity [2] - Enhanced security features include integrated data protection and trusted computing acceleration, effectively defending against data breaches and malicious tampering, particularly for critical sectors like finance, government, and healthcare [2] Financial Performance - The company anticipates a revenue of approximately 2.633 billion yuan for the first half of 2025, representing a year-on-year growth of about 58.17% [3] - The expected net profit for the same period is projected to be between 1.1 billion and 1.2 billion yuan, reflecting a year-on-year increase of 85.50% to 102.36% [3] - Growth is attributed to the rising demand in the AI industry, with significant increases in shipments of DDR5 memory interface and module chips, alongside a notable rise in sales revenue from high-performance chips [3]

安全性能全面升级。C6P集成了数据保护与可信计算加速功能，支持数据加解密算法和平台可信度量， 在芯片层面构建坚实的安全屏障，有效防御数据泄露与恶意篡改，为金融、政务、医疗等关键行业提供 高标准隐私保护与合规性的解决方案。 8月15日，澜起科技宣布推出第六代津逮®性能核CPU（以下简称C6P）。据悉，这款融合突破性架构、 全栈兼容性与芯片级安全防护的高性能服务器处理器，旨在为数据中心、人工智能、云计算及关键行业 基础设施提供强大的算力引擎。 澜起科技总裁Stephen Tai表示，C6P的发布，标志着公司在兼顾高性能计算与安全需求方面实现双重突 破。该产品不仅延续了用户熟悉的X86开发生态，更通过安全模块与定制化性能调优，为客户带来高性 价比选择，助力关键行业基础设施的数字化转型。 据公司介绍，C6P采用先进的架构设计，单颗CPU最高支持86个高性能核心和172个线程，最大三级缓 存容量达336MB，为高密度计算场景提供澎拜动力。产品支持单路与双路部署，通过4组UPI互联通道 （最高速率24GT/s）实现多处理器间的高效协同。其内存子系统采用8通道DDR5架构，最高支持 6400MT/s的RDIMM或8000M ...

在高速I/O扩展方面，C6P提供88条PCIe5.0通道，并兼容CXL2.0协议，为GPU、FPGA等加速器提供卓 越的连接带宽。 C6P采用与英特尔至强6(Xeon6)处理器完全一致的封装与管脚设计，支持X86指令集，用户现有应用无 需修改即可无缝迁移，大幅降低系统升级成本与复杂度。 安全性能全面升级。C6P集成了数据保护与可信计算加速功能，支持数据加解密算法和平台可信度量， 在芯片层面构建坚实的安全屏障，有效防御数据泄露与恶意篡改，为金融、政务、医疗等关键行业提供 高标准隐私保护与合规性的解决方案。 据了解，在持续迭代产品的同时，澜起科技正积极构建开放协同的津逮生态体系，深度参与 openEuler、龙蜥(OpenAnolis)、OpenCloudOS等主流开源操作系统社区建设，并与主流云服务商、数据 库厂商及核心硬件供应商完成广泛兼容性认证。 8月15日，澜起科技宣布推出第六代津逮性能核CPU(以下简称C6P)。据悉，这款融合突破性架构、全栈 兼容性与芯片级安全防护的高性能服务器处理器，旨在为数据中心、人工智能、云计算及关键行业基础 设施提供强大的算力引擎。 澜起科技总裁Stephen Tai表示，C6 ...

Core Viewpoint - The artificial intelligence sector in China is experiencing significant growth, as evidenced by the performance of the Sci-Tech Innovation Board AI Index and related ETFs, indicating strong investor interest and potential opportunities in this field [2][3]. Group 1: Market Performance - As of August 15, 2025, the Sci-Tech Innovation Board AI Index (950180) rose by 1.05%, with notable increases in constituent stocks such as Stone Technology (688169) up 4.06% and Lanke Technology (688008) up 3.98% [2]. - The Sci-Tech AI ETF (588790) increased by 1.21%, with a latest price of 0.67 yuan, and has shown a cumulative increase of 1.85% over the past week [2]. - The Sci-Tech AI ETF has seen a significant scale growth of 7.54 million yuan over the past two weeks, ranking first among comparable funds [3]. Group 2: Fund Flows and Leverage - The latest net outflow for the Sci-Tech AI ETF was 1.08 million yuan, but over the past 10 trading days, there were net inflows on 7 days, totaling 5.21 million yuan [4]. - The latest margin buying amount for the Sci-Tech AI ETF reached 21.95 million yuan, with a margin balance of 827 million yuan [5]. Group 3: Performance Metrics - As of August 14, 2025, the Sci-Tech AI ETF has achieved a net value increase of 7.54% over the past six months, ranking first among comparable funds [5]. - The ETF's highest single-month return since inception was 15.59%, with an average monthly return of 9.25% during rising months [5]. - The Sharpe ratio for the Sci-Tech AI ETF over the past month was 1.21, indicating strong risk-adjusted returns [6]. Group 4: Tracking and Composition - The Sci-Tech AI ETF closely tracks the Sci-Tech Innovation Board AI Index, which includes 30 large-cap companies providing foundational resources, technology, and application support for the AI industry [7]. - As of July 31, 2025, the top ten weighted stocks in the index accounted for 67.36% of the total index weight, highlighting the concentration in key players within the AI sector [9].

截至2025年8月15日 13:05，上证科创板芯片指数强势上涨1.02%，成分股东芯股份上涨13.53%，盛科通信上涨13.49%，芯动联科上涨3.98%，澜起科技、南 芯科技等个股跟涨。科创芯片ETF(588200)上涨1.28%， 冲击5连涨。 截至8月14日，科创芯片ETF近1年净值上涨85.20%，排名可比基金第一，指数股票型基金排名86/2961，居于前2.90%。从收益能力看，截至2025年8月14 日，科创芯片ETF自成立以来，最高单月回报为25.18%，最长连涨月数为4个月，最长连涨涨幅为36.01%，上涨月份平均收益率为8.19%。 东海证券认为，AI领域投资强度仍未放缓，体现长期增长潜力。短期看，由于美国在先进制程、AI芯片等领域具备技术优势，国产芯片短期难以完全替 代，或致使产能爬坡延迟、终端产品涨价、企业盈利水平承压，长期看有望加速国内半导体国产化替代进程，加快本土半导体供应链建设，形成新的国际合 作关系，重塑全球半导体供应链格局。 爱建证券认为，本次AI带动的半导体产业大爆发不同于以往的智能终端周期和供需周期，而是一次不亚于工业革命级别的产业大爆发。未来，半导体工艺 将沿着密度提升 ...