Core Viewpoint - Dongxin Co., Ltd. (688110) announced on August 11 that there have been reports regarding its investment in Lishuan Technology (Shanghai) Co., Ltd. and the launch of its first self-developed GPU chip "7G100" and graphics card product Lisuan eXtreme [1] Investment and Product Development - The products from Lishuan Technology are primarily aimed at applications in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twins, rather than large model computing clusters [1] - The sales of these products are subject to uncertainties as they require product certification, customer onboarding, and mass production supply [1] - Dongxin's investment in Lishuan Technology is accounted for using the equity method and is not included in the consolidated financial statements [1]

Core Viewpoint - The stock of Dongxin Semiconductor Co., Ltd. has experienced significant volatility, with a cumulative price increase of 126.59% from July 28 to August 11, 2025, raising concerns about potential risks associated with rapid price fluctuations [1][4]. Trading Anomalies - The company's stock price deviated by 30% over three consecutive trading days (August 7, 8, and 11, 2025), which is classified as abnormal trading activity according to Shanghai Stock Exchange regulations [1]. - As of August 11, 2025, the closing price was 84.63 CNY per share, with a rolling P/E ratio reported as negative, significantly diverging from the industry average P/E ratio of 43.43 [1][4]. Business Operations - The company reported a net loss of 59,241,841 CNY for Q1 2025, indicating ongoing financial challenges, and is expected to remain in a loss position for the first half of 2025 [1][2]. - The company confirmed that there have been no significant changes in its business operations or external environment that would justify the recent stock price increase [1][2]. Investment in Shanghai Lishuan Technology - The company has invested in Shanghai Lishuan Technology, which recently announced the launch of its first self-developed GPU chip "7G100" and graphics card product "Lisuan eXtreme" [1][2]. - The products are aimed at various applications, including personal computers and AI, but face uncertainties regarding market acceptance and sales due to the need for product certification and customer onboarding [1][3]. Risks Associated with Investment - The investment in Shanghai Lishuan Technology is subject to several risks, including industrialization progress, market competition, product singularity, performance, and ongoing operational funding [4][5][6][7]. - The GPU market is highly concentrated, with major players like NVIDIA and AMD dominating approximately 98% of the market share, posing significant competitive challenges for domestic GPU manufacturers [5][6]. Management Assurance - The board of directors has confirmed that there are no undisclosed significant matters that could impact the company's stock price, and no insider trading has occurred during the period of stock price volatility [2][3].

证券代码：688110 证券简称：东芯股份 公告编号：2025-039 东芯半导体股份有限公司 股票交易异常波动公告 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。 重要内容提示： 1 东芯半导体股份有限公司（以下简称"公司"或"上市公司"）股票交易连 续三个交易日内（2025 年 8 月 7 日、8 月 8 日、8 月 11 日）日收盘价格涨幅 偏离值累计达到 30%，根据《上海证券交易所交易规则》《上海证券交易所 科创板股票异常交易实时监控细则》的有关规定，属于股票交易异常波动情 形。 截至 2025 年 8 月 11 日，公司收盘价为 84.63 元/股，自 2025 年 7 月 28 日 至 2025 年 8 月 11 日，公司股价累计涨幅为 126.59%，超过大部分同行业公 司股价涨幅及上证指数涨幅，可能存在短期上涨过快出现的下跌风险。根据 中证指数有限公司官方网站发布的截至2025年8月11日的市盈率数据显示， 公司所属《中国上市公司协会上市公司行业统计分类指引》"C39 计算机、 通信和其他电子设备制造业" ...

Market Overview - A-shares experienced a significant rally, with major indices such as the Shanghai Composite Index and Shenzhen Component Index reaching new highs for the year, while the CSI 1000 index hit a two-year high [1] - Over 4,200 stocks declined, with trading volume increasing to 1.85 trillion yuan [1] Sector Performance - Active sectors included solid-state batteries, consumer electronics, robotics, and defense industries, while precious metals, banking, film and television, and oil services saw the largest declines [1] - The solid-state battery sector saw a notable increase, with the sector index reaching a nearly three-year high, and stocks like Liar Technology and Shengxin Lithium Energy hitting their daily limit [3][6] Capital Inflows and Outflows - Significant net inflows were observed in the computer, electronics, and power equipment sectors, each exceeding 10 billion yuan, while the pharmaceutical and biological sector saw over 8.5 billion yuan in net inflows [1] - The banking sector experienced a net outflow of over 2 billion yuan, with public utilities, oil and petrochemicals, and steel also seeing net outflows exceeding 100 million yuan [1] Solid-State Battery Industry - The theoretical energy density of solid-state batteries exceeds 400 Wh/kg, significantly improving electric vehicle efficiency and addressing barriers to adoption [5] - Major Chinese companies, including CATL, have accelerated their timelines for mass production of solid-state batteries to between 2027 and 2030 [5][6] - The industry is expected to see solid-state batteries begin to be installed in vehicles starting in 2026, with sulfide electrolyte routes becoming the mainstream choice despite high costs and environmental concerns [6] Consumer Electronics and AI Integration - The consumer electronics sector index reached a historical high, with many stocks experiencing significant gains [6] - The smartphone industry is undergoing a technological transformation driven by artificial intelligence, with global AI smartphone shipments projected to reach 827 million units by 2027, reflecting a compound annual growth rate of 100.7% [8] - In China, AI smartphone shipments are expected to reach 150 million units by 2027, accounting for 51.9% of the overall market, with a compound annual growth rate of 96.8% [8]

Summary of Key Points Core Viewpoint - On August 11, institutional investors showed significant activity in the stock market, with notable net purchases and sales across various companies. Group 1: Institutional Net Purchases - The top three stocks with the highest net purchases by institutions were Hengbao Co., Ltd. (1.20 billion), Chaojie Co., Ltd. (1.11 billion), and Innovation Medical (704 million) [1][2] - A total of 37 stocks were involved in institutional trading, with 21 stocks experiencing net purchases and 16 stocks facing net sales [1] Group 2: Institutional Net Sales - The top three stocks with the highest net sales by institutions were Ningbo Yunsheng (3.07 billion), Zhongxin Fluorine Materials (1.55 billion), and Dongxin Co., Ltd. (906 million) [1][4] - The net outflow amounts for these stocks indicate a significant sell-off by institutional investors [4]

沪深两市全天主力资金净流入100.20亿元，其中，科创板主力资金净流出20.87亿元，主力资金净流入的 有243只股，主力资金净流出的有344只股。 证券时报·数据宝统计显示，今日科创板个股上涨的有499只，涨停的有赛诺医疗、莱尔科技等2只，下 跌的有85只。 资金流向方面，今日主力资金净流入的科创板股共有243只，其中，10只个股主力资金净流入超5000万 元，东芯股份主力资金净流入1.86亿元，净流入资金居首；寒武纪、云从科技紧随其后，全天净流入资 金分别为1.38亿元、9916.17万元。主力资金净流出的有344只，净流出资金最多的是中芯国际，该股今 日上涨0.35%，全天主力资金净流出2.60亿元，其次是海光信息、芯原股份，主力资金净流出分别为 2.30亿元、2.22亿元。 从主力资金连续性进行观察，共有36只个股主力资金连续3个交易日以上持续净流入，连续流入天数最 多的是龙软科技，该股已连续8个交易日净流入；连续净流入天数较多的还有博瑞医药、鼎阳科技等， 主力资金分别连续流入7天、7天。主力资金连续流出的个股有140只，连续流出天数最多的是亿华通， 该股已连续18个交易日净流出；连续净流出天数较多的 ...

本文源自：金融界 作者：智投君 其中，沪股通专用、方正证券股份有限公司重庆金开大道证券营业部、国泰海通证券股份有限公司总部 分别买入36939.30万元、20205.20万元、18291.90万元。 8月11日，东芯股份上涨14.66%登上龙虎榜，连续3个交易日内收盘价格涨幅较基准指数偏离值累计达 到30%，知名游资卖出。 买入金额最大的前5名营业部 买入额/万 卖出额/万 净额/万 沪股通专用 36939.30 0.00 36939.3 方正证券 股份有限公司重庆金开大道证券营业部 20205.20 0.00 20205.2 国泰海通证券股份有限公司总部 18291.90 0.00 18291.9 华泰证券股份有限公司深圳益田路荣超商务中心证券营业部 13819.50 0.00 13819.5 国泰海 通证券股份有限公司深圳滨海大道创投大厦证券营业部 9778.51 0.00 9778.51 卖出金额最大的前5名营业 部 买入额/万 卖出额/万 净额/万 沪股通专用 0.00 57436.70 -57436.7 国泰海通证券股份有限公司总部 0.00 22526.60 -22526.6 中国国际金融股份有限 ...

证券之星消息，8月11日半导体板块较上一交易日上涨0.86%，东芯股份领涨。当日上证指数报收于 3647.55，上涨0.34%。深证成指报收于11291.43，上涨1.46%。半导体板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 688110 | 东心股份 | 84.63 | 14.66% | 48.93万 | | 40.28亿 | | 688279 | 峰昭科技 | 202.60 | 11.63% | 3.07万 | | 26655 | | 688401 | 路维光电 | 41.20 | 11.05% | 11.27万 | | 4.51亿 | | 600877 | 电科芯片 | 13.96 | 10.01% | 63.62万 | | 8.71亿 | | 301369 | 联动科技 | 62.07 | 6.65% | 5.74万 | | 3.60亿 | | 688661 | 和林微纳 | 46.28 | 6.20% | 8.63万 | | 3.95亿 | | ...

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board 100 Index (000698) has shown a strong increase of 2.64% as of August 11, 2025, with notable gains in constituent stocks such as Dongxin Co., Ltd. (688110) up 15.19% and Fengcai Technology (688279) up 11.29% [1] - The Sci-Tech 100 ETF Enhanced Index Fund (588680) has achieved a net value increase of 67.43% over the past year, ranking first among comparable funds and placing in the top 5.55% of index equity funds [1] - The Sci-Tech 100 ETF Enhanced Index Fund has a maximum monthly return of 26.13% since its inception, with the longest consecutive monthly gains being three months and a total increase of 38.67% [1] Group 2 - As of July 31, 2025, the top ten weighted stocks in the Sci-Tech Innovation Board 100 Index account for 23.52% of the index, including companies like Borui Pharmaceutical (688166) and BeiGene (688235) [2] - The market is expected to focus on technology growth and cyclical manufacturing as key themes, with a cautious outlook on high-valuation stocks facing performance verification pressure during the earnings report peak in August [2] - The technology sector's valuation is currently around 50% of historical levels, with certain segments like semiconductor materials and 6G showing higher valuation levels compared to their historical averages [2] Group 3 - The Sci-Tech 100 ETF Enhanced Index Fund provides investors with a convenient tool to invest in small and medium-sized companies on the Sci-Tech Board, allowing for easy access to excess returns from these enterprises [3]

Core Viewpoint - The rapid development of AI and related technologies is significantly driving the upgrade of computing infrastructure, leading to increased demand for computing power and a strong performance in the semiconductor sector, particularly in the context of the STAR Market chip index and related ETFs [1][4]. Group 1: Market Performance - The STAR Market chip index rose by 1.06% as of August 11, 2025, with notable increases in constituent stocks such as Dongxin Technology (up 18.76%) and Peak Technology (up 8.86%) [1]. - The STAR Chip ETF (588200) also saw a gain of 1.05% [1]. - The STAR Chip ETF recorded a turnover rate of 3.59% and a transaction volume of 1.157 billion yuan, with an average daily transaction volume of 2.456 billion yuan over the past year, ranking first among comparable funds [3]. Group 2: Fund Growth and Performance - The STAR Chip ETF experienced a significant increase in scale, growing by 667 million yuan over the past week, leading in new scale among comparable funds [3]. - The ETF's share count increased by 51.6 million shares in the same period, also ranking first in new shares among comparable funds [3]. - The latest net inflow of funds into the STAR Chip ETF was 561 million yuan, indicating strong investor interest [3]. Group 3: Sector Insights - The demand for electronic components is in a mild recovery phase, with storage chip prices rebounding since February 2025, and DDR4 prices reaching 2022 highs [4]. - Global pure semiconductor foundry revenue is expected to grow by 17% year-on-year, with 3nm node revenue increasing by over 600%, driven by demand from AI PCs and high-performance computing (HPC) [4]. - As of July 31, 2025, the top ten weighted stocks in the STAR Market chip index accounted for 57.59% of the index, with companies like Cambricon, SMIC, and Haiguang Information leading the way [4][6].