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上银数字经济A三季度涨56.67%,基金经理赵治烨押注“双主线配置+动态风控”核心策略
Xin Lang Ji Jin· 2025-10-21 08:17
专题:聚焦2025基金三季报:权益类规模增长 科技赛道仍是"核心仓位" 随着2025年基金三季报披露季拉开帷幕,由上银基金经理赵治烨、惠军管理的上银数字经济A率先披露 三季报。 截至2025年10月20日,该基金单位净值达1.5092元,单日上涨0.87%,累计净值同步攀升至1.5092元。 尤为引人注目的是,该基金近三个月涨幅高达37.71%,近六个月累计上涨51.03%,自2024年8月6日成 立以来,总回报率已达50.92%。 数据来源:Wind,截止 第二条主线围绕AI端侧芯片展开。基于2025-2027年智能眼镜、全景相机、服务机器人等终端产品将密 集落地的产业趋势,基金重点配置了终端放量与芯片价值共振的标的,如智能眼镜专用芯片、机器人控 制芯片等,旨在精准把握产业链利润传导机会。 从具体持仓来看,该基金三季度前十大重仓股全面聚焦半导体领域,包括中芯国际、华虹半导体、海光 信息、寒武纪、瑞芯微、澜起科技、长电科技、晶晨股份、恒玄科技和豪威集团。 | 股票名称 | 持仓市值(元) | 持仓数量 | 相对上期增减 | | --- | --- | --- | --- | | 中芯国际 | 26.182.2 ...
晶晨股份股价涨5.02%,上银基金旗下1只基金重仓,持有14.96万股浮盈赚取68.8万元
Xin Lang Cai Jing· 2025-10-21 03:48
截至发稿,赵治烨累计任职时间10年165天,现任基金资产总规模15.37亿元,任职期间最佳基金回报 129.47%, 任职期间最差基金回报-42.27%。 资料显示,晶晨半导体(上海)股份有限公司位于上海市浦东新区秀浦路2555号漕河泾康桥商务绿洲E5, 香港湾仔皇后大道东183号合和中心46楼,成立日期2003年7月11日,上市日期2019年8月8日,公司主营 业务涉及系统级SoC芯片及周边芯片的研发、设计与销售。主营业务收入构成为:销售商品99.98%,租 赁服务0.02%。 从基金十大重仓股角度 数据显示,上银基金旗下1只基金重仓晶晨股份。上银数字经济混合发起式A(021593)三季度持有股 数14.96万股,占基金净值比例为6.39%,位居第八大重仓股。根据测算,今日浮盈赚取约68.8万元。 上银数字经济混合发起式A(021593)成立日期2024年8月6日,最新规模2124.27万。今年以来收益 42.85%,同类排名1154/8162;近一年收益45.31%,同类排名924/8024;成立以来收益50.92%。 上银数字经济混合发起式A(021593)基金经理为赵治烨、惠军。 10月21日,晶晨股 ...
Meta斥资15亿美元加码AI布局,科创AIETF(588790)今日回调超2%
Sou Hu Cai Jing· 2025-10-17 02:23
Core Insights - The AI industry is experiencing significant growth, driven by advancements in technology and increasing demand for AI applications across various sectors [5][6] - Major companies are investing heavily in AI infrastructure, with Meta investing $1.5 billion in a new data center in Texas and BlackRock and NVIDIA collaborating on a $40 billion acquisition of a data center operator [4] - The domestic AI chip industry is seeing a breakthrough, with a complete supply chain established from advanced processes to model acceleration by major companies like ByteDance, Alibaba, and Tencent [6] Market Performance - The Shanghai Stock Exchange Sci-Tech Innovation Board AI Index fell by 2.08%, with key stocks like Chipone Technology and Cambricon Technologies leading the decline [3] - The Sci-Tech AI ETF (588790) decreased by 2.11%, currently priced at 0.79 yuan, but has seen a 37.54% increase over the past three months [3] Investment Trends - The Sci-Tech AI ETF has shown significant growth, with a recent increase of 1.753 billion yuan in scale and a 3.690 billion share increase over the past six months, ranking first among comparable funds [7] - The ETF is designed to provide exposure to the entire AI industry chain, including hardware, models, and applications, benefiting from strong policy support for domestic chip penetration [7][8] Industry Developments - The Ministry of Industry and Information Technology has initiated a special action for "millisecond computing" in urban areas, indicating a push towards enhancing computational efficiency [4] - The AI sector is expected to continue expanding, with companies like Tencent and Alibaba showing strong growth in advertising and cloud services, indicating a positive outlook for technology stocks [5]
【看新股】晶晨股份赴港IPO:智能终端SoC芯片龙头 客户集中度较高
Xin Hua Cai Jing· 2025-10-15 23:24
Core Viewpoint - 晶晨半导体 plans to list on the Hong Kong Stock Exchange, aiming to raise funds for advanced chip technology development, following a successful listing on the STAR Market in 2019 [2][12]. Group 1: Company Overview - 晶晨股份 is a leading fabless semiconductor company focusing on smart multimedia and display SoC, AIoT SoC, communication and connectivity chips, and automotive SoC [3]. - The company ranks fourth globally among smart terminal SoC manufacturers and is the top player in mainland China for home smart terminal SoC [3]. Group 2: Financial Performance - In the first half of 2025, the company achieved revenue of 3.33 billion yuan, a year-on-year increase of 10.42%, and a net profit of 497 million yuan, up 37.12% [2][3]. - The revenue compound annual growth rate from 2016 to 2024 was 22.7%, driven by the rapid growth in the smart home market and increased penetration of edge intelligence technology [3]. Group 3: Business Segments - The main business segment, smart multimedia and display SoC, accounted for over 70% of revenue in the past three years, while AIoT SoC revenue has been increasing, reaching 26.7% in the first half of 2025 [5]. - The top five customers contributed significantly to revenue, accounting for 57.9% to 66.3% of total revenue from 2022 to the first half of 2025 [5]. Group 4: Recent Developments - On September 15, 2025, the company announced the acquisition of 100% of芯迈微半导体 for 316 million yuan, which will enhance its capabilities in cellular communication and Wi-Fi technology [6][11]. - The IPO proceeds will allocate approximately 70% for advanced chip technology development, 10% for global customer service system construction, 10% for strategic investments and acquisitions, and 10% for working capital [13].
晶晨半导体递表港交所 20余家分销商撑起近八成营收
Mei Ri Jing Ji Xin Wen· 2025-10-15 13:45
每经记者|蔡 鼎 每经编辑|董兴生 10月9日,港交所官网显示,A股科创板上市公司晶晨股份(SH688099,股价101.60元,市值427.84亿元)向港交所首次呈交了IPO (首次公开募股)申请文件,中金公司和海通国际为其联席保荐人。公司在港交所上市的简称为"晶晨半导体"。 视觉中国 此外,报告期内,晶晨半导体的营收主要来自中国内地以外地区。具体来看,公司报告期内境外营收占比分别为84.5%、90.2%、 91.4%和88.9%。 公司供应商集中度较高 《每日经济新闻》记者注意到,这距离晶晨股份9月5日召开董事会和监事会会议审议通过相关议案才过去仅一个多月时间。公司当时 称,赴港上市是为进一步提高公司资本实力和综合竞争力,深入推进公司国际化战略。 招股书显示,晶晨半导体拟将此次港股IPO募集资金的约70%用于支持持续增长与提升研发能力、约10%用于未来全球客服服务体系建 设、约10%用于推进"平台+生态系统"战略的投资与收购,剩余约10%用于营运资金及一般公司用途。 近八成收入靠分销模式 晶晨半导体成立于2003年7月,总部位于上海,为系统级半导体系统设计厂商,面向多个实际场景提供智能终端控制与连接解决方 ...
国产模拟芯片突破千倍能效,科创芯片ETF(588200)整固蓄势,近10天合计“吸金”超70亿
Sou Hu Cai Jing· 2025-10-15 05:29
Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Chip Index experienced a slight decline of 0.01% as of October 15, 2025, with mixed performance among constituent stocks [1] - Dongxin Co., Ltd. led the gains with an increase of 7.44%, followed by Chengdu Huami with a rise of 6.68%, and Haiguang Information up by 4.72% [1] - The top ten weighted stocks in the index accounted for 59.69% of the total, with Haiguang Information, Lanke Technology, and SMIC being the most significant contributors [4] Group 2 - The Sci-Tech Chip ETF (588200) saw a trading volume turnover of 5.89% and a transaction value of 2.416 billion yuan, indicating active trading [4] - Over the past month, the ETF's scale increased by 8.994 billion yuan, marking a significant growth and ranking first among comparable funds [4] - The ETF achieved a net inflow of 7.09 billion yuan over the last ten days, with a peak single-day inflow of 2.748 billion yuan [4] Group 3 - Oracle and AMD announced an expansion of their partnership, with Oracle Cloud Infrastructure set to deploy 50,000 AMD GPUs starting in Q3 2026 [5] - Research teams from Peking University developed a high-precision, scalable analog matrix computing chip based on resistive memory, achieving performance comparable to digital processors [5] - Analysts from Guangfa Securities and Galaxy Securities expressed optimism about the AI industry chain and the necessity for domestic chip production, highlighting continued investment in computing power [5]
晶晨股份超500%溢价收购亏损企业创始人几乎“0”对价退出
Xin Lang Cai Jing· 2025-10-15 03:07
出品:新浪财经上市公司研究院 作者:光心 近期,晶晨股份发布公告,拟以现金方式收购芯迈微半导体(嘉兴)有限公司(下称"芯迈微")100%股权,收购对价为人民币3.16亿元。交易完成后,芯迈微将成为公司全资子公司,纳入公司 值得注意的是,交易标的芯迈微成立于2021年8月,2024年营业收入还为0元,2025年上半年营业收入也仅有68万元,净利润亏损超4000万元。而本次收购较2024年末的经审计净资产溢价率 更加有趣的是,芯迈微创始人孙滇以0元价格转让了21.8035%的股权,该交易安排是出于何种考虑? 成本法定价股东"保本退出" 创始人0元出让部分股权 据公告,此次收购以2024年9月A+轮融资的4.3亿元估值为基础,明确股东出资总额为人民币31,611万元的情况下,基于市场化交易原则折价至31,611万元。 通过这种简单的成本定价法,股东将索回此前出资的全部3.16亿元,且没有任何利息。 而具体到13位股东,包括创始人孙滇、两家员工持股平台、多家投资机构在内,由于初始出资额都不同,各自对应交易金额也有所差异。 具体来看,晶晨股份作为国内领先的无晶圆半导体系统设计厂商,为智能机顶盒、智能电视、无线连接及车载 ...
晶晨股份超500%溢价收购亏损企业 创始人几乎“0”对价退出
Xin Lang Cai Jing· 2025-10-15 02:16
Core Viewpoint - Recently, Jingchen Co., Ltd. announced its intention to acquire 100% equity of ChipMinds Semiconductor (Jiaxing) Co., Ltd. for RMB 316 million, despite ChipMinds having no revenue in 2024 and a projected loss exceeding RMB 40 million [1][2]. Group 1: Acquisition Details - The acquisition price represents a premium of over 500% compared to ChipMinds' audited net assets at the end of 2024, and there are no performance-based clauses attached to the deal [1]. - ChipMinds was founded in August 2021 and has completed five rounds of financing, with investors including Junlian Capital and Huashan Capital [2]. - The founder, Sun Dian, transferred 21.8035% of his shares at a price of zero, indicating a potential "cost recovery exit" strategy due to poor performance [2][4]. Group 2: Financial Performance - ChipMinds is projected to have zero revenue in 2024 and only RMB 68,000 in the first half of 2025, with a net loss of RMB 40.06 million [2][4]. - As of mid-2025, ChipMinds' net assets were only RMB 35.90 million, suggesting financial instability and potential challenges in sustaining operations without further financing [2][4]. Group 3: Strategic Implications for Jingchen - Jingchen aims to integrate ChipMinds' communication technology to enhance its capabilities in AIoT, automotive, and wearable sectors, thereby expanding its technological moat [6]. - The acquisition is seen as a gamble during a critical period for Jingchen, which is also pursuing a Hong Kong IPO amidst slowing growth [5][6]. - The competitive landscape in the Wi-Fi RF chip sector is intense, with established players already generating significant revenues, posing risks for ChipMinds' future performance [7].
科创板人工智能ETF(588930)涨超1%,奥比中光-UW涨超4%,机构:建议继续聚焦AI主线
上海证券指出,国庆期间,人工智能题材新闻密集发酵,软件层面,Open AI推出Sora 2,商业化初步 构想形成;硬件层面,AMD与OpenAI达成重磅合作,6吉瓦算力开启部署。我们认为,AI软件的商业 化进程正加速落地,解决了AI投资的"持续性"质疑。 10月14日,A股三大指数集体高开。 热门ETF中,科创板人工智能ETF(588930)截至发稿涨1.09%,成交额超700万元,换手率0.31%。成 分股中,奥比中光-UW涨超4%,澜起科技、优刻得-W、晶晨股份等跟涨。 (图源:Wind) 资金流向来看,截至10月13日,该ETF已连续两日获资金净流入,累计流入额超9300万元 科创板人工智能ETF(588930)紧密跟踪上证科创板人工智能指数(950180.CSI)。该指数从科创板市 场中选取30只市值较大且业务涉及为人工智能提供基础资源、技术以及应用支持的上市公司证券作为指 数样本,以反映科创板市场代表性人工智能产业上市公司证券的整体表现。 消息面来看,据第一财经,北京时间10月13日晚间,OpenAI和定制ASIC(专用集成电路)厂商博通宣 布达成合作,双方将合作开发10吉瓦的定制人工智能加速器,O ...
2025年中国AI SOC行业发展背景、市场现状、相关企业及未来发展趋势研判:受益于端边侧AI应用的快速普及,AI SOC迎来良好发展机遇[图]
Chan Ye Xin Xi Wang· 2025-10-14 00:38
Core Insights - AI SoC is optimized for AI tasks, providing efficient parallel computing capabilities, particularly suitable for machine learning and deep learning applications [1][5] - The global AI SoC shipment volume is projected to grow from 949 million units in 2020 to 1.565 billion units in 2024, achieving a compound annual growth rate (CAGR) of 13.3% [1][11] - The demand for edge AI SoC is driven by advancements in large language models and multimodal models, leading to a surge in edge-side inference requirements [1][11] AI SoC Industry Overview - AI SoC integrates specialized functional modules for AI computation on top of traditional SoC, distinguishing itself with AI accelerators like NPUs [1][5] - The AI SoC industry consists of upstream software suppliers, IP providers, raw material suppliers, and equipment suppliers, with a focus on design, manufacturing, and testing in the midstream [1][5][6] Market Trends - The visual AI SoC segment is growing, with shipments expected to reach 246 million units in 2024, a year-on-year increase of 52.9%, accounting for 15.7% of total AI SoC shipments [1][13] - In China, the AI SoC market is projected to reach approximately 280 million units by 2024, supported by government policies promoting AI integration across various sectors [1][14] Future Projections - AI SoC shipment volumes are expected to continue growing, with projections indicating over 4.5 billion units by 2030 due to increasing demands for high-performance computing and AI inference capabilities [1][16] - The product categories within the AI SoC market are anticipated to diversify, focusing on AI processing capabilities and addressing varying requirements across different devices [1][16]