澜起科技股份有限公司 ■ 经扣除本公司就悉数行使超额配售权应付的包销佣金、费用及估计开支后，公司将收取的额外所得款项 净额约为10.43亿港元，公司拟按本次发行的招股说明书"未来计划及所得款项用途－所得款项用途"一 节所载的用途按比例使用该等额外所得款项净额。 特此公告。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 经香港联合交易所有限公司（以下简称"香港联交所"）批准，澜起科技股份有限公司（以下简称"公 司"） 发行的65,890,000股H股股票（行使超额配售权之前）已于2026年2月9日在香港联交所主板挂牌并 上市交易（以下简称"本次发行"）。公司H股股票中文简称为"澜起科技"，英文简称为"MONTAGE TECH"，股份代号为"6809"。详见公司于2026年2月10日在上海证券交易所网站 （http://www.sse.com.cn）披露的《关于H股挂牌并上市交易的公告》（公告编号：2026-010）。 根据本次发行方案，公司同意由整体协调人（代表国际包销商）于2026年2月10日悉数行使超额配售 权，按发售 ...

Core Viewpoint - The semiconductor industry chain places chip design at the top, recognized for its high R&D investment, high gross margins, and light asset operation, making it the segment with the highest added value in the industry. The E Fund Sci-Tech Chip Design ETF (589030) serves as a standardized observation tool to effectively monitor fluctuations in this segment [1]. Group 1: Index Characteristics - The E Fund Sci-Tech Chip Design ETF (589030) closely tracks the Shanghai Stock Exchange Sci-Tech Board Chip Design Theme Index, which has a high "purity" as it exclusively selects listed companies in the semiconductor design sector from the Sci-Tech Board, excluding heavy asset wafer manufacturing and backend testing [2]. - Digital chip design and analog chip design are the top two weighted industries in the index, together accounting for over 90%, allowing the index to accurately reflect the overall prosperity of the chip design segment without being affected by manufacturing capital expenditure fluctuations [2]. Group 2: Component Stock Overview - The ETF's holdings include several core enterprises in the domestic semiconductor field, with the top ten component stocks being: - Lanqi Technology - Haiguang Information - Chipone Technology - Cambricon - Baiwei Storage - Ruichuang Micro-Nano - Dongxin Technology - Loongson Technology - Zhenlei Technology - Fudan Microelectronics [3]. - The business distribution focuses on three main areas: - Computing and calculation chips, such as Haiguang Information and Cambricon, which are crucial for domestic computing infrastructure [4]. - Memory interface and storage logic, including Lanqi Technology (memory interface chips) and Baiwei Storage (storage devices) [5]. - Analog chips, such as Ruichuang Micro-Nano (infrared detectors) and Zhenlei Technology (RF chips), applicable in various industrial and consumer electronics scenarios [6]. Group 3: Market Insights - Recent reports from major brokerages highlight structural recovery opportunities in the semiconductor industry, with the chip design segment identified as a direction where performance elasticity is expected to be realized first [7]. - In the storage sector, Guosheng Securities notes that under the backdrop of original manufacturers reducing production and supply-demand tightness, module manufacturers with stable, high-quality particle supply are likely to benefit significantly from the AI era's supply-demand tightness, price increases, and domestic production upgrades [8]. - CITIC Securities emphasizes that "self-control and AI computing power" will be the absolute main line throughout 2026, indicating that the domestic computing power industry chain is transitioning from "point breakthroughs to systematic reconstruction" [9]. Group 4: Industry Tool Attributes - For observers focused on semiconductor industry logic, tracking the performance of the E Fund Sci-Tech Chip Design ETF (589030) provides a direct reflection of market recognition of valuation fluctuations in the chip design segment. This index tool, focusing on the upstream high-value-added segment, offers a precise "slice" for analyzing the trends of hard technology on the Sci-Tech Board [11]. - As of February 11, 2026, the index achieved a 69.47% increase over the statistical period, significantly reflecting the high elasticity characteristics of the chip design segment during industry upcycles [12].

Group 1 - The semiconductor leading ETF, 工银 (159665), opened down 1.00% at 1.980 yuan [1] - Major holdings in the ETF include 中芯国际 down 1.89%, 海光信息 down 1.54%, and several others with varying declines, while 拓荆科技 saw a slight increase of 0.02% [1] - The ETF's performance benchmark is the 国证半导体芯片指数, managed by 工银瑞信基金管理有限公司, with a return of 100.14% since its inception on December 22, 2022, and a 1.67% return over the past month [1]

Summary of Montage Technology Conference Call Company Overview - **Company Name**: Montage Technology - **Ticker Symbols**: 688008.SS (A-shares), 6809.HK (H-shares) - **Industry**: Semiconductor, focusing on memory interface and connectivity solutions - **Market Share**: Approximately 40% in the global memory interface market - **Key Products**: Memory interface solutions (RCD/DB), PCIe retimers, server platform solutions, etc. [33][40] Core Insights - **Investment Rating**: Montage-H initiated with a Buy rating and a target price (TP) of HK$205, reflecting a 10% discount to Montage-A's TP of Rmb205 [1][4] - **Stock Performance**: Montage-A shares have increased by 35% year-to-date, outperforming the SSE Index, which rose by 2% [1] - **AI Infrastructure Growth**: The company is positioned as a direct beneficiary of AI capital expenditures, with expectations for increased demand in memory interfaces and MRDIMM due to agentic AI developments [1][3][21] Financial Forecasts - **Revenue and Earnings Growth**: Revenue forecasts for Montage-A have been revised upwards, with expected revenues of Rmb5,593 million for 2025E, Rmb7,463 million for 2026E, and Rmb10,030 million for 2027E [13][20] - **Profit Margins**: Gross profit margins are projected to improve, with gross margins expected to reach 62.2% by 2027 [20] - **Earnings Per Share (EPS)**: EPS is forecasted to grow from Rmb1.96 in 2025E to Rmb4.08 in 2027E [20] Market Dynamics - **AI Capex Catalyst**: Anticipation of positive announcements regarding AI capital expenditures in China's upcoming 15th Five Year Plan, which could further enhance Montage's market position [21][22] - **Technological Advancements**: The transition to DDR5 technology is expected to drive ASP and margin improvements, alongside new connectivity solutions [34][42] Risks - **Downside Risks**: Key risks include potential slowdowns in AI infrastructure capex, market share loss to international competitors, and delays in product migration and development [37][43] - **High-Risk Rating**: Montage-H is rated high-risk due to its short trading history, although fundamentals remain strong [38] Additional Insights - **Investor Sentiment**: Positive feedback from investors highlights Montage as a unique AI investment opportunity within the Chinese semiconductor sector, attributed to its growth outlook and technological advantages [2] - **Product Pipeline**: Montage has a clear product pipeline and upgrade cadence, which is crucial for maintaining its competitive edge [2] Conclusion Montage Technology presents a compelling investment opportunity driven by its strong market position in the semiconductor industry, particularly in AI-related applications. The company's financial forecasts indicate robust growth, supported by favorable market dynamics and technological advancements. However, investors should remain cautious of potential risks that could impact future performance.

Group 1 - The core viewpoint of the article highlights the performance of the Chip ETF (159995), which opened down by 0.88% at 1.910 yuan on February 11 [1] - Major holdings in the Chip ETF include companies such as SMIC, which fell by 1.89%, Haiguang Information down by 1.54%, and Cambrian down by 1.09% [1] - The ETF's performance benchmark is the National Securities Semiconductor Chip Index return rate, managed by Huaxia Fund Management Co., with a return of 92.76% since its inception on January 20, 2020, and a 1.42% return over the past month [1]

Group 1 - The core viewpoint of the article highlights the performance of the Chip ETF Huatai Fu (516920), which opened down by 0.96% at 1.132 yuan on February 11 [1] - The major holdings of the Chip ETF experienced declines, with notable drops including Cambricon down 1.09%, SMIC down 1.89%, and GigaDevice down 1.69% [1] - The performance benchmark for the Chip ETF is the CSI Chip Industry Index return, with a total return of 14.40% since its establishment on July 27, 2021, and a one-month return of 0.56% [1]

花旗发表研报，对澜起科技开展为期90日的上行催化剂观察，预期国家十五五规划纲要将于下月全国两 会审议后公布，若当局届时提及正面的AI资本支出支持计划，并为市场订立AI基础设施发展目标，将 有助于澜起科技估值获进一步重估。该行又指，基于CPU的服务器需求增长，智能体AI应用新发展也可 能被催化，带动更多DIMM存储器模块使用，对该公司存储器界面业务带来上行空间，推动今明两年盈 利增长。花旗给予澜起科技"买入"评级，目标价为205港元，对应今年下半年至明年上半年预测市盈率 约54倍。 ...

来源：新浪基金∞工作室 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月11日，科创价值ETF华夏（589550）开盘跌0.45%，报1.322元。科创价值ETF华夏（589550）重仓股 方面，中芯国际开盘跌1.89%，寒武纪跌1.09%，海光信息跌1.54%，时代电气涨0.32%，澜起科技跌 1.46%，天能股份涨0.40%，中微公司跌0.71%，华润微跌0.34%，威胜信息跌0.10%，奥特维涨0.67%。 科创价值ETF华夏（589550）业绩比较基准为上证智选科创板价值50策略指数收益率，管理人为华夏基 金管理有限公司，基金经理为杨斯琪，成立（2025-07-16）以来回报为32.87%，近一个月回报为 2.15%。 ...

Group 1 - The core point of the article highlights the performance of the Chip ETF Dongcai (159599), which opened with a slight decline of 0.35% at 2.269 yuan [1] - The major holdings of the Chip ETF Dongcai include companies such as Cambrian, SMIC, and Haiguang Information, all of which experienced declines in their stock prices, with SMIC down by 1.89% and Cambrian down by 1.09% [1] - The performance benchmark for the Chip ETF Dongcai is the CSI Chip Industry Index return, managed by Dongcai Fund Management Co., with a return of 127.89% since its establishment on April 19, 2024, and a monthly return of 0.62% [1]

Group 1 - The semiconductor ETF Southern (159325) opened down 0.30% at 1.641 yuan [1] - Major holdings in the semiconductor ETF showed mixed performance, with notable declines in stocks such as Cambrian (-1.09%), SMIC (-1.89%), and GigaDevice (-1.69%), while Tuojing Technology saw a slight increase of 0.02% [1] - The performance benchmark for the semiconductor ETF is the CSI Semiconductor Industry Select Index return, managed by Southern Fund Management Co., Ltd. [1] Group 2 - Since its establishment on October 31, 2024, the fund has achieved a return of 64.93%, but has experienced a decline of 0.24% over the past month [1]