Group 1 - The core viewpoint is that the 科创100ETF fund has shown significant growth, with a 3.63% increase and a total scale of 57.64 billion, making it the largest in its category [1][2] - Semiconductor stocks are experiencing a strong performance, driven by Oracle's announcement of a 359% year-on-year increase in unmet performance obligations, reaching 455 billion [1] - The ongoing global AI computing power competition is expected to drive demand in the semiconductor and consumer electronics sectors, with a focus on innovation and recovery in demand [1] Group 2 - The 科创100ETF fund closely tracks the 上证科创板100 index, which selects 100 securities from the Sci-Tech Innovation Board based on market capitalization and liquidity [2] - As of August 29, 2025, the top ten weighted stocks in the 上证科创板100 index account for 23.82% of the index, including companies like 东芯股份 and 华虹公司 [2]

Core Viewpoint - The A-share market shows a strong upward trend, with significant gains in sectors such as computing hardware, semiconductors, and liquid-cooled servers, while sports and precious metals sectors remain sluggish [3][4]. Market Performance - The Shanghai Composite Index rose by 1.12%, the Shenzhen Component Index increased by 2.63%, and the ChiNext Index surged by 4.31% [3]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.48 trillion yuan, an increase of 193.8 billion yuan compared to the previous trading day, with over 3,300 stocks rising [4]. Sector Highlights - Notable sectors with significant gains include: - Components: +6.54% - Co-packaged optics (CPO): +6.13% - AI 50 Index: +4.83% - PCB concept: +4.40% - Fiber optic concept: +4.11% [4]. - Semiconductor stocks, particularly computing chips, experienced a notable surge, with companies like Haiguang Information nearing a 20% limit up [6][13]. Individual Stock Movements - Industrial Fulian reached a new historical high, increasing by 8.78% to 58.38 yuan [9]. - In the pork sector, stocks such as Bangji Technology and Lihua Shares saw significant increases, with Bangji Technology hitting the daily limit up [11][12]. International Market Influence - OpenAI reportedly signed a deal to purchase $300 billion worth of computing power from Oracle over five years, leading to a 36% surge in Oracle's stock, which added approximately $250 billion to its market capitalization in a single day [13].

Group 1 - The core viewpoint indicates that the recent rebound in domestic computing power is not the end of the "domestic computing power" market, but rather a period of capital adjustment to prepare for a healthier next round of growth [1] - The next phase of the "domestic computing power" market is expected to be a large-scale market that can be fully participated in, with recent signs of "activation" emerging [1] - Active news and industry developments are noted, including expectations for GPU orders from major internet companies, which are fostering positive sentiment [1] Group 2 - Companies are actively advancing capital operations, with Cambrian receiving approval for a private placement from the CSRC, and Haiguang pushing forward with the acquisition of Shuguang while launching a broad equity incentive plan [1] - Significant actions from downstream internet companies are highlighted, such as Alibaba's launch of a comprehensive strategy, including the release of the high-parameter model QwenMaxPreview and ongoing efforts in the AI ecosystem [1] - The optimistic outlook for Alibaba's AI initiatives in the coming year is emphasized [1] Group 3 - As of September 11, 2025, the STAR Market Chip Index (000685) surged by 5.59%, with notable increases in component stocks such as Haiguang Information (688041) up 16.80% and Yuanjie Technology (688498) up 15.68% [2] - The STAR Market Chip ETF Index (588920) rose by 5.46%, reflecting the overall performance of representative semiconductor industry listed companies on the STAR Market [2] - The top ten weighted stocks in the STAR Market Chip Index account for 62.02% of the index, including companies like Cambrian (688256) and Haiguang Information (688041) [2]

Group 1 - The semiconductor stocks in the A-share market have shown strong performance, with notable gains in several companies [1] - Saiwei Microelectronics (688325) reached a 20% limit up, with a total market value of 5.795 billion and a year-to-date increase of 38.47% [2] - New Xiangwei (688593) rose over 17%, with a market capitalization of 9.011 billion and a year-to-date increase of 7.16% [2] - Yuanjie Technology (688498) increased by 16%, boasting a market value of 33.4 billion and a remarkable year-to-date increase of 189.68% [2] - Jietek (688141) saw a gain of over 13%, with a market capitalization of 23.4 billion and a year-to-date increase of 71.28% [2] - Gai Lun Electronics (688206) rose by over 8%, with a market value of 16.7 billion and a year-to-date increase of 102.65% [2] - Haiguang Information (688041), Changguang Huaxin (688048), and Dongxin Co. (688110) also experienced gains exceeding 7% [1][2]

Market Overview - On September 11, A-shares opened mixed with the Shanghai Composite Index up by 0.2%, Shenzhen Component Index up by 0.93%, and ChiNext Index up by 1.57% [2] - Sectors such as CPO, PCB, and pork showed significant gains [2] Liquid Cooling Server Sector - The liquid cooling server concept saw a continuous rise, with stocks like Yidong Electronics, Fangsheng Co., and Jiechuan Intelligent rising over 10% [3] - Notable performers included: - Fangsheng Co. at 39.76, up 15.25% - Jiechuan Intelligent at 30.84, up 15.16% - Yidong Electronics at 45.55, up 11.18% [4] Semiconductor Sector - The semiconductor sector experienced a rebound, with stocks like Saiwei Microelectronics hitting the daily limit and Haiguang Information rising over 10% [7] - Key stocks included: - Saiwei Microelectronics at 67.28, up 19.99% - Yuanjie Technology at 390.92, up 16.82% [8] - Other notable stocks included: - Haiguang Information at 205.22, up 11.51% - Dongxin Co. at 97.33, up 8.83% [9]

Group 1 - The semiconductor sector in the A-share market has shown strong performance, with several stocks experiencing significant gains [1] - Saiwei Microelectronics reached a 20% limit up, indicating strong investor interest and confidence [1] - Other notable performers include New Xiang Micro, which rose over 17%, Yuanjie Technology with a 16% increase, and Jiehuate with more than a 13% gain [1] Group 2 - Additional stocks that performed well include Galun Electronics with an increase of over 8%, and Haiguang Information, Changguang Huaxin, and Dongxin Co., which all rose by more than 7% [1]

本报告依据中国资产评估准则编制 东芯半导体股份有限公司 拟进行增资所涉及的砺算科技(上海)有限公司 股东全部权益价值 北京中ラ 假责任公司 资产评估报告 中天华资评报字(2025) 第11319号 (共1册,第1册) the state with the world of the "ha the production of the first of ！石 中国资产评估协会 资产评估业务报告备案回执 | 报告编码: | 1111020122202501151 | | | --- | --- | --- | | 合同编号: | 中天华合同字[2025]第P1235号 | | | 报告类型: | 法定评估业务资产评估报告 | | | 报告文号: | 中天华资评报字[2025]第11319号 | | | 报告名称: | 东芯半导体股份有限公司拟进行增资所涉及的砺算科技(上海 有限公司股东全部权益价值 | | | 评估结论: | 3,550,000,000.00元 | | | 评估报告日: | 2025年08月29日 | | | 评估机构名称: | 北京中天华资产评估有限责任公司 | | | 签名人员: | 赵俊斌 ( ...

证券代码：688110 证券简称：东芯股份 东芯半导体股份有限公司 2025 年第二次临时股东会会议资料 二〇二五年九月 东芯半导体股份有限公司 2025 年第二次临时股东会会议资料 目 录 | 东芯半导体股份有限公司 年第二次临时股东会会议须知 2 2025 | | --- | | 东芯半导体股份有限公司 年第二次临时股东会会议议程 4 2025 | | 议案一：关于对外投资暨关联交易的议案 5 | 一、为确认出席会议的股东或其代理人或其他出席者的出席资格，会议工作 人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次会议的严肃性和正常秩序，切实维护股东的合法权益，务必 请出席会议的股东或其代理人或其他出席者准时到达会场签到确认参会资格，在 会议主持人宣布现场出席会议的股东和代理人人数及所持有的表决权数量之前， 会议登记应当终止。 三、会议按照会议通知上所列顺序审议、表决议案。 四、股东及股东代理人参加股东会依法享有发言权、质询权、表决权等权利。 股东及股东代理人参加股东会应认真履行其法定义务，不得侵犯公司和其他股东 及股东代理人的合法权益，不得扰乱股东会的正常秩序。 五、要求发 ...

Company Overview - Dongxin Semiconductor Co., Ltd. is located in Qingpu District, Shanghai, and was established on November 26, 2014. The company went public on December 10, 2021. Its main business focuses on the research, design, and sales of general-purpose storage chips with small to medium capacity [1] - The revenue composition of the company is as follows: NAND 57.08%, MCP 25.88%, DRAM 10.43%, NOR 6.15%, Other (supplementary) 0.25%, and Technical services 0.21% [1] Stock Performance - On September 9, Dongxin shares increased by 5.46%, reaching a price of 91.99 yuan per share, with a trading volume of 788 million yuan and a turnover rate of 2.00%. The total market capitalization is 40.683 billion yuan [1] Shareholder Information - Among the top ten circulating shareholders of Dongxin, one fund from Huaxia Fund, Huaxia Industry Prosperity Mixed Fund (003567), entered the top ten in the second quarter, holding 3.1599 million shares, which accounts for 0.71% of the circulating shares. The estimated floating profit today is approximately 15.0412 million yuan [2] - Huaxia Industry Prosperity Mixed Fund (003567) was established on February 4, 2017, with a latest scale of 7.261 billion yuan. Year-to-date returns are 43.4%, ranking 905 out of 8179 in its category; the one-year return is 92.65%, ranking 455 out of 7984; and since inception, the return is 340.12% [2]

Group 1 - Dongxin Semiconductor Co., Ltd. experienced a stock price increase of 5.46%, reaching 91.99 CNY per share, with a trading volume of 788 million CNY and a turnover rate of 2.00%, resulting in a total market capitalization of 40.683 billion CNY [1] - The company, established on November 26, 2014, and listed on December 10, 2021, focuses on the research, design, and sales of general-purpose storage chips with a revenue composition of NAND (57.08%), MCP (25.88%), DRAM (10.43%), NOR (6.15%), and others (0.25%) [1] Group 2 - Ruifeng Fund's Ruifeng Growth Value Mixed A (007119) entered the top ten circulating shareholders of Dongxin Semiconductor in the second quarter, holding 3.1734 million shares, which is 0.72% of the circulating shares, with an estimated floating profit of approximately 15.1056 million CNY [2] - The fund, established on March 26, 2019, has a latest scale of 16.839 billion CNY, with a year-to-date return of 48.73% and a one-year return of 73.92%, ranking 624th out of 8179 and 1046th out of 7984 in its category, respectively [2] Group 3 - The fund managers of Ruifeng Growth Value Mixed A are Fu Pengbo and Zhu Lin, with Fu having a cumulative tenure of 16 years and 240 days and a best fund return of 429.69% during his tenure [3] - Zhu Lin has a cumulative tenure of 6 years and 170 days, with a best fund return of 79.23% during his tenure [3]