Group 1 - The A-share market showed mixed performance, with the communication and electronics sectors experiencing significant gains, with many stocks hitting the daily limit or rising over 10% [1][2][3] - The Shanghai Composite Index fell by 0.13% to 3918.83, while the Shenzhen Component Index rose by 0.09% to 13341.62, and the ChiNext Index increased by 1.07% to 3224.38 [3][4] - The communication sector saw a rise of over 3%, with stocks like Hengxin Oriental, Dekeli, and Online Offline hitting the daily limit, while others like Zhongji Xuchuang and Xinyisheng also saw gains [4][5] Group 2 - The electronics sector also experienced substantial growth, with stocks such as Purun Co., Yidong Electronics, and Shengyi Electronics rising over 10%, while others like ChaoSheng Electronics and Junya Technology hit the daily limit [5][6] - Several stocks in the A-share market continued to show active performance, with many hitting the daily limit after consecutive gains in previous trading days [8] Group 3 - The Hong Kong stock market showed a downward trend, with the Hang Seng Index falling nearly 1% and the Hang Seng Tech Index dropping over 1.5% [18] - In the Hong Kong market, stocks like Xinyi Glass, Xinyi Solar, Longfor Group, and Zijin Mining saw declines of over 4%, while WuXi Biologics and Hang Lung Properties were among the top gainers [18]

国盛证券表示，中国经济新动能和新势力将加速崛起，先进制造、科技是主要方向，这将带动中国经济 发展的成色与底色被全球广泛认知，以先进制造、科技创新为代表的中国经济新动能的全面崛起，将有 助于推动中国动能转换并驱动海外资金重估中国的增长模式。（文中所列示的行业仅供参考，不预示本 基金未来表现，不作为投资收益保证，也不构成对具体行业的投资建议） 500质量成长ETF紧密跟踪中证500质量成长指数，从中证500指数样本中选取100只盈利能力较高、盈利 可持续、现金流量较为充沛且具备成长性的上市公司证券作为指数样本，为投资者提供多样化的投资标 的。 据wind数据显示，截至2025年11月28日，中证500质量成长指数前十大权重股分别为华工科技、恺英网 络、东吴证券、天山铝业、春风动力、杰瑞股份、水晶光电、顺络电子、科达利、湖南黄金，前十大权 重股合计占比21.53%。（以上所列示股票为指数成份股，仅做示意不作为个股推荐。过往持仓情况不 代表基金未来的投资方向，也不代表具体的投资建议，投资方向、基金具体持仓可能发生变化。市场有 风险，投资需谨慎） 截至2025年12月9日10:04，中证500质量成长指数上涨0.17% ...

每经AI快讯，12月9日，电路板指数盘中上涨2%。成分股中，胜宏科技涨超8%；超声电子、生益电子 涨超7%；生益科技、崇达技术跟涨，分别上涨6.81%、6.20%。 （文章来源：每日经济新闻） ...

Strategy - The technology competition under the Kondratiev wave continues to open up valuation ceilings, with a focus on "bottleneck" and future industry high ground [14][15] - The current valuation of China's science and technology innovation is still lower than that during the internet boom in the 1990s, indicating potential for further upward movement [14][18] - The "14th Five-Year Plan" emphasizes seizing the high ground of technological development, focusing on key areas such as integrated circuits and advanced manufacturing [14][19] Electronics - The scaling law remains effective, with the introduction of multi-modal and agent models expected to accelerate AI computing demand [8][15] - The PCB industry is anticipated to maintain high growth due to its heavy asset nature and product structure optimization, which can lead to non-linear performance improvements for companies [8][15] Computer - New models are being launched intensively, marking a shift in AI competition towards "strong reasoning + native multi-modal" capabilities [9][15] - Significant releases include Google's Gemini 3 and DeepSeek V3.2, which enhance multi-modal understanding and practical applications [9][15] Media - Long-term optimism for the acceleration of AI product applications and commercialization, with a focus on AI agents, companionship, multi-modal applications, education, and edge AI [9][15] Humanoid Robots - The industry is transitioning from concept validation to commercialization, with companies that have growth potential in key components or specific solutions likely to benefit [10][15] - Investment opportunities are identified in the incremental component sector, with a focus on aesthetic preferences in the market [10][15] Automotive - The launch of Horizon Robotics' HSD and J6P models marks a significant step in mass production, with companies like WeRide and Pony.ai also making strides in the market [10][15] - Recommendations include focusing on luxury car opportunities with strong product pipelines and valuation elasticity, as well as autonomous driving technologies [10][15] Selected Portfolio - The December selected portfolio includes upstream production tools like Zhuoyi Information, upstream computing infrastructure such as Jingwang Electronics, and downstream applications like Alibaba [11][15]

12月5日，东莞市工业和信息化局、东莞市发展和改革局、东莞市科学技术局联合公布全市2025年度重 点产业链"链主"企业名单，希望各单位结合自身职能，依法依规加强对"链主"企业支持，强化要素保 障，优化企业服务，共同推动产业链整体竞争力提升。 | | | 东莞市重点产业链"链主"企业公示名单 | | | --- | --- | --- | --- | | 序号 | 所属产业链 | "链主"企业名称 | 镇街(园区) | | 1 | 智能移动终端 | 东莞华贝电子科技有限公司 | 松山湖 | | 2 | 智能移动终端 | 东莞新能源科技有限公司 | 松山湖 | | 3 | 智能机器人 | 厂东拓斯达科技股份有限公司 | 大岭山 | | 4 | 工业母机 | 乔锋智能装备股份有限公司 | 常平 | | 5 | 人工智能 | 开普云信息科技股份有限公司 | 石龙 | | 6 | 人工智能 | 东莞市数字经济发展集团有限公司 | 松山湖 | | 7 | 轻型动力 | 厂东高标智能科技股份有限公司 | 松山湖 | | 8 | 轻型动力 | 东莞市朗泰通科技股份有限公司 | 清溪 | | ਰੇ | 轻型动力 | 广东博力威 ...

Group 1: Optical Modules - The optical module industry is experiencing the highest growth and performance realization among AI hardware this year, driven by high verification barriers for North American CSP tech giants and increasing demand due to the acceleration of supernode technology [2][4] - The average ratio of optical modules to GPUs is continuously increasing, with demand for 800G and 1.6T optical modules being revised upwards, indicating a strong upward resonance in demand [2][4] - By 2026, the demand for 1.6T optical modules is expected to exceed 30 million units, with an average price of $900-1000 per unit, while high-end EML optical chips are projected to face a 25-30% supply shortage [4][5] Group 2: Liquid Cooling - The liquid cooling industry has seen fluctuating trends this year, with initial enthusiasm dampened by low penetration rates, followed by a resurgence in August and significant breakthroughs in November [5][9] - The demand for liquid cooling in North America is expected to expand rapidly by 2026, with penetration rates in the NVIDIA ecosystem projected to rise from 20-30% to over 80-90% [7][9] - A leading domestic manufacturer is anticipated to capture a market share of 13-17% in North America by 2026, with Google expected to implement liquid cooling solutions for over 200,000 TPU V7 chips, creating a market space exceeding $24-28 billion [9][10] Group 3: AI PCB - The AI PCB industry is thriving, with companies like Shenghong, Huidian, and Shengyi achieving performance realization in North America, despite some quarterly fluctuations [10][12] - The supply side is seeing an increase in product value and manufacturing difficulty due to upgrades in customer chips and cabinet solutions, leading to a marginal differentiation in the supply landscape [10][12] - By 2026, the introduction of orthogonal backplanes is expected to significantly increase unit value, with M9 material processing anticipated to break through, although mass production is expected to ramp up in 2027 [12][13] Group 4: Server Power Supply - The server power supply market has shown similar trends to liquid cooling, with initial excitement followed by a divergence in performance among manufacturers [13][14] - The supply side is dominated by Taiwanese manufacturers, with a high concentration of market share, while domestic manufacturers are expected to make significant breakthroughs in North America by 2026 [14][15] - The adoption of HVDC technology is projected to replace traditional UPS solutions, with an expected market scale exceeding $20-30 billion by 2026 [15]

证券代码：688183 证券简称：生益电子 公告编号：2025-082 生益电子股份有限公司 2025年第三次临时股东会决议公告 本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 12 月 4 日 （二） 股东会召开的地点：广东省东莞市东城区同沙科技工业园同振路 33 号生 益电子股份有限公司研发中心会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例（%） | 票数 | 比例（%） | 票数 | 比例（%） | | 普通股 | 637,875,492 | 99.9535 | 292,990 | 0.0459 | 3,301 | 0.0006 | | 1、出席会议的股东和代理人人数 | ...

法律意见书 广州市天河区珠江东路 32 号利通广场 29 层 邮编：510623 29/F, Lea Top Plaza, 32#Zhujiang East Road, Tianhe District, Guangzhou, 510623 电话/TEL：（8620) 37392666 传真/FAX：（8620) 37392826 网址/WEB：www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达（广州）律师事务所 关于生益电子股份有限公司 2025 年第三次临时股东会的法律意见书 康达(广州)股会字【2025】第 0059 号 致：生益电子股份有限公司 北京市康达（广州）律师事务所（下称"本所"）接受生益电子股份有限公 司（下称"生益电子"或"公司"）委托，指派律师出席公司 2025 年第三次临 时股东会。根据《中华人民共和国公司法》（下称"《公司法》"）、《中华人 民共和国证券法》（下称"《证券法》"）、《上市公司股东会规则》（下称"《股 东会规则》"） ...

科创板融资余额环比前一日减少4.63亿元，其中，51股融资余额环比增加超1000万元，融资净买入居前 的有生益电子、佰维存储、传音控股等股。 证券时报·数据宝统计显示，截至12月2日，科创板两融余额合计2584.02亿元，较上一交易日减少4.60亿 元，其中，融资余额合计2575.26亿元，较上一交易日减少4.63亿元。 科创板股中，最新融资余额超亿元的有486只，其中，融资余额在10亿元以上的有47只，融资余额在 5000万元至1亿元的有80只，融资余额低于5000万元的有21只。 上述融资客大手笔净买入的科创板股中，从最新融资余额占流通市值比例看，算术平均值为5.20%，融 资余额占比最高的是双元科技，该股最新融资余额为1.87亿元，占流通市值的比例为12.82%，融资余额 占比较高的还有中科蓝讯、影石创新、阳光诺和，占比分别为11.10%、10.63%、9.60%。（数据宝） | 代码 | 简称 | 最新融资余额（万 | 环比增减金额（万 | 环比增减 | 当日涨跌幅 | | --- | --- | --- | --- | --- | --- | | | | 元） | 元） | （%） | （%） | ...

Core Insights - The main focus of the article is on the significant inflow of capital into specific stocks as of December 2, with notable amounts recorded for various companies [1] Group 1: Capital Inflows - The top stock receiving capital inflow is Industrial Fulian, with an inflow of 844 million yuan [1] - Luxshare Precision follows with an inflow of 619 million yuan [1] - Pingtan Development and Shenghong Technology also show strong inflows of 546 million yuan and 544 million yuan respectively [1] Group 2: Other Notable Stocks - Other companies with significant capital inflows include: - Tianfu Communication with 358 million yuan [1] - BYD with 319 million yuan [1] - Aerospace Power with 297 million yuan [1] - Additional companies in the top inflow list include: - GoerTek with 287 million yuan [1] - Rongji Software with 276 million yuan [1] - Aerospace Development with 228 million yuan [1]