Core Viewpoint - The storage sector is experiencing significant growth, with major companies reporting substantial increases in revenue and profit, indicating a high level of industry prosperity. Group 1: Company Performance - A-share storage module leader Baiwei Storage expects to achieve operating revenue of 10 billion to 12 billion yuan in 2025, representing a year-on-year growth of 49.36% to 79.23% [1] - Baiwei Storage anticipates a net profit attributable to shareholders of 850 million to 1 billion yuan, reflecting a dramatic increase of 427.19% to 520.22% year-on-year [1] - Jiangbolong reported a significant increase in net profit for Q3 2025, reaching 698 million yuan, a nearly 20-fold year-on-year growth [6] Group 2: Industry Trends - Major storage manufacturers are launching expansion plans to capitalize on the ongoing price increases in the market [2] - Companies like Tongfu Microelectronics plan to raise up to 4.4 billion yuan, with 800 million yuan allocated for enhancing storage chip testing capacity, which will add an annual capacity of 849,600 pieces [4] - Multiple companies, including Tianshan Electronics and Changjiang Electronics, have announced expansion plans to increase production capacity [5] Group 3: Market Outlook - The rebound in storage prices from low levels is leading to improved profitability for related A-share listed companies [6] - Twelve storage concept stocks are expected to see year-on-year net profit growth or turnaround in 2025, with Jiangbolong and Allwinner Technology projected to have net profit increases exceeding 100% [6] - Companies like Changjiang Electronics are positioned as leading players in the DDR5 chip market, with expectations of strong growth driven by increasing penetration rates and AI demand [7]

Core Viewpoint - The recent pullback of the Huabao Sci-Tech AI ETF (589520) after reaching a historical high is seen as a buying opportunity by investors, reflecting strong confidence in the domestic AI industry chain [1][3]. Group 1: ETF Performance - The Huabao Sci-Tech AI ETF (589520) experienced a decline of 2.71% after hitting a record high, with a trading volume exceeding 55 million yuan within half a day [1]. - Over the past three days, the ETF attracted a total of 121 million yuan in investments, indicating positive market sentiment towards the domestic AI industry chain [1]. Group 2: Component Stocks - Among the component stocks, Yaxin Security led with a gain of over 4%, while Hehe Information rose by more than 3%. Other notable gainers included Chipone Technology, Lattice Semiconductor, and Qi Anxin, each increasing by over 1% [3]. - Conversely, XH Technology saw a decline of nearly 20%, approaching its daily limit down, while Zhongke Shuguang and Haitan Ruisheng fell by over 18% and 11%, respectively, negatively impacting the index performance [3]. Group 3: Industry Developments - The Ministry of Industry and Information Technology recently issued a plan for the high-quality development of industrial internet platforms from 2026 to 2028, marking a new phase in China's industrial internet development [3]. - The plan introduces the concept of "industrial intelligence," emphasizing the deep integration of AI into the entire industrial chain, which is expected to revolutionize traditional manufacturing practices [3]. Group 4: AI Industry Outlook - The AI industry is transitioning from a focus on AIGC (Artificial Intelligence Generated Content) to applications in manufacturing, with the potential for AI to become a true productivity tool [3]. - According to CITIC Securities, the synergy between self-control and AI is expected to drive strong performance in related sectors by 2025, with this trend likely to strengthen further in 2026 [3]. Group 5: ETF Composition and Strategy - The Huabao Sci-Tech AI ETF (589520) is strategically diversified across four key segments: application software, terminal applications, terminal chips, and cloud chips, reflecting the current state of the AI industry chain [4]. - The ETF emphasizes domestic alternatives, with over 70% of its top ten holdings in the semiconductor sector, indicating a high concentration and aggressive positioning [5].

据港交所披露，澜起科技已通过港交所主板上市聆讯。 澜起科技最早将于本周五(1月16日)开始接受投资者认购，并最早可能本月在香港挂牌。 闪德资讯，一个聚焦关注存储产业供应链和趋势变化的垂直媒体。 据闪德资讯获悉，中国芯片设计公司澜起科技将为其香港上市交易引入阿里巴巴和摩根资产管理等公司 为关键投资者。 阿里巴巴和摩根资管将作为基石投资者参与此次上市，并表示本次IPO可能筹集约9亿美元，若承销商 行使超额配售权，筹资额则可能更高。 此次发行的其他基石投资者还包括总部位于苏格兰的资产管理公司安本、韩国的未来资产证券和瑞银集 团的资产管理部门。 ...

Market Overview - The Hang Seng Index (HSI) faces short-term resistance at 27,188 points, with expectations of two interest rate cuts in 2026 following the Federal Reserve's December decision to lower rates by 0.25% [2] - The market anticipates increased monetary policy support from mainland China in early 2026, focusing on expanding domestic demand and achieving technological self-reliance [2] - Recent adjustments in financing margin requirements by the Shanghai, Shenzhen, and Beijing stock exchanges may lead to short-term market corrections due to reduced leverage [2] Macro Focus - China's December trade data exceeded expectations, with exports rising by 6.6% and imports by 5.7%, resulting in a trade surplus of 114.14 billion USD [9] - The Chinese Ministry of Industry and Information Technology is regulating industry competition to resist disorderly price wars, particularly in the electric vehicle sector [9] - The Chinese government has extended tax refund policies for home purchases to stimulate the housing market, effective from January 1, 2026, to December 31, 2027 [9] Company News - Baidu is reportedly considering upgrading its Hong Kong listing status to primary listing to attract more mainland investors [11] - Alibaba's AI assistant, Qianwen, is set to release a significant product iteration, with its monthly active users surpassing 100 million [11] - Eastroc Beverage has passed the listing hearing for its IPO in Hong Kong, aiming to enhance its production capacity and brand presence [11] - Kuaishou plans to raise approximately 2 billion USD through its first offshore bond issuance [11] - Trip.com Group is under investigation for alleged monopolistic practices related to its pricing tools affecting hotel partners [11]

Core Viewpoint - The storage module leader, Baiwei Storage, has announced a significant increase in its earnings forecast for 2025, driven by a rapid rebound in storage prices, which has notably improved the profitability of related A-share listed companies [1] Group 1: Company Performance - Baiwei Storage expects to achieve an operating revenue of 10 billion to 12 billion yuan in 2025, representing a year-on-year growth of 49.36% to 79.23% [1] - The company anticipates a net profit attributable to shareholders of 850 million to 1 billion yuan, reflecting a substantial year-on-year increase of 427.19% to 520.22% [1] Group 2: Industry Outlook - A total of 12 storage-related concept stocks are projected to see a year-on-year increase in net profit or a turnaround from losses in 2025 [1] - Notable companies such as Jiangbolong and Allwinner Technology are expected to have net profit growth exceeding 100%, while leading stocks like Zhaoyi Innovation and Lanke Technology forecast net profit growth of over 40% [1]

Core Viewpoint - Lanke Technology is set to go public on the Hong Kong Stock Exchange, attracting significant interest from investors, particularly in the AI sector [1] Group 1: Company Overview - Lanke Technology is a chip design company planning to raise approximately $900 million through its Hong Kong listing [1] - The company is already listed on the Shanghai Stock Exchange and is expected to start accepting investor subscriptions as early as this Friday [1] Group 2: Key Investors - Major cornerstone investors for Lanke Technology's Hong Kong listing include Alibaba and Morgan Asset Management, indicating strong market confidence [1] - Other cornerstone investors include Aberdeen Group, Future Asset Securities from South Korea, and UBS Asset Management [1] Group 3: Financial Details - The potential fundraising could increase if underwriters exercise their overallotment option, although specific details are still subject to change [1]

Group 1 - The core viewpoint of the article highlights that Chinese chip design company Lattice Technology (688008.SH) is set to attract key investors such as Alibaba (09988) and Morgan Asset Management for its upcoming Hong Kong IPO, indicating strong demand for AI-related stock offerings in the Asian financial hub [1] - The IPO is expected to raise approximately $900 million, with the potential for a higher amount if underwriters exercise their over-allotment option [1] - Other cornerstone investors include Aberdeen Asset Management, Future Asset Securities from South Korea, and UBS Asset Management [1] Group 2 - Lattice Technology, established in 2004, is a leading international company specializing in data processing and interconnect chip design, focusing on high-performance, low-power chip solutions for cloud computing and data centers [1] - The company has two main product lines: interconnect chips and the Jinda® server platform [1] - Lattice Technology's A-share price increased by over 70% in 2025, with a current valuation of approximately $22 billion [1] - The projected profits for Lattice Technology are estimated to be 1.4 billion RMB in 2024, increasing to 2.3 billion RMB in 2025, and reaching 3.3 billion RMB in 2026 [1]

据媒体援引知情人士报道，中国芯片设计公司澜起科技(688008.SH)将为其香港上市交易引入阿里巴巴 (09988)和摩根资产管理等公司为关键投资者，显示出该亚洲金融中心最新人工智能相关股票发行需求 向好。报道提及，阿里巴巴和摩根资管将作为基石投资者参与此次上市，并表示本次IPO可能筹集约9 亿美元，若承销商行使超额配售权，筹资额则可能更高。 知情人士还补充称，此次发行的其他基石投资者还包括总部位于苏格兰的资产管理公司安本、韩国的未 来资产证券和瑞银集团的资产管理部门。 据港交所1月5日披露，澜起科技已通过港交所主板上市聆讯。报道表示，澜起科技最早将于本周五(1月 16日)开始接受投资者认购，并最早可能本月在香港挂牌。 澜起科技成立于2004年，是国际领先的数据处理及互连芯片设计公司，致力于为云计算和数据中心领域 提供高性能、低功耗的芯片解决方案，目前公司拥有互连类芯片和津逮服务器平台两大产品线。2025 年，其A股股价上涨逾70%，目前公司估值约为220亿美元。报道称，澜起科技2024年利润为14亿元人 民币，该数值可能在2025年达到23亿元，在2026年达到33亿元。 ...

这笔交易的其他基石投资者还包括苏格兰资产管理公司Aberdeen Group Plc、韩国的Mirae Asset Securities Co.以及瑞银的资产管理部门。据报道，澜起科技最早将于周五开始接受投资者认购。 澜起科技成立于2004年，专注于设计用于加速数据中心和AI加速器数据流动的芯片。该公司目前估值 约为220亿美元，其在股票在去年录得73%的涨幅。 盈利预期强劲，香港IPO市场回暖 彭博调查的分析师数据显示，澜起科技的盈利增长路径清晰，这为其高估值提供了支撑。该公司2024年 实现利润14亿元人民币（约合1.96亿美元）。分析师预计，随着AI基础设施建设需求的持续释放，这一 关键财务指标在2025年可能升至23亿元人民币，并在2026年进一步增长至33亿元人民币。 澜起科技的上市将进一步推高香港新股市场创纪录的1月表现。彭博汇编的数据显示，受中国AI相关企 业融资需求的推动，香港市场在2026年的前两周已筹集了43亿美元资金。 据报道，中国芯片设计公司澜起科技已锁定包括阿里巴巴和摩根大通资产管理在内的重量级基石投资 者，这一进展显示出市场对这一人工智能相关股票发行抱有强烈需求。 据媒体援引知情人 ...

Group 1 - Montage Technology, a memory interface chip designer, is preparing for an IPO in Hong Kong with plans to raise approximately $900 million [1] - Alibaba is set to invest in this transaction [1]