Investment Rating - The report maintains a "Buy" rating for the semiconductor testing equipment industry, indicating a favorable outlook for investment opportunities in this sector [1]. Core Insights - The semiconductor testing equipment industry is experiencing a critical phase characterized by "value reassessment, demand surge, and accelerated domestic substitution," which presents significant investment opportunities [5][6]. - The testing equipment is essential throughout the semiconductor manufacturing process, with ATE (Automatic Test Equipment) leading in value contribution, while probe stations and handlers work in synergy to enhance testing efficiency [11][20]. - The demand for testing equipment is driven by three main factors: AI computing power, advanced packaging, and automotive electronics, which collectively create a favorable environment for growth [5][6]. Summary by Sections 1. Testing Equipment's Role in Manufacturing - Semiconductor testing equipment is a core component of the integrated circuit industry, covering wafer testing, packaging testing, and functional verification [11]. - Testing occurs in two main phases: Circuit Probing (CP) and Final Test (FT), which are crucial for ensuring product quality and cost efficiency [11][15]. 2. Demand Drivers - The complexity of AI computing chips is increasing, leading to longer testing cycles and higher equipment demand [6]. - Advanced packaging techniques are creating new testing requirements, such as KGD (Known Good Die) and SLT (System Level Test), which further drive the need for testing equipment [6]. - The automotive sector is also contributing to demand growth, with a significant increase in the number of chips required for smart vehicles, necessitating rigorous testing standards [5][6]. 3. Global Market Dynamics - The testing equipment market is dominated by a few key players, particularly in the ATE segment, where companies like Advantest and Teradyne hold over 90% market share [5][6]. - The report highlights the importance of platform integration and vertical consolidation as strategies for leading companies to maintain competitive advantages [5][6]. 4. Domestic Substitution Opportunities - The report identifies a clear path for domestic manufacturers to increase their market share, particularly in the SoC and storage testing segments, where current domestic production rates are low [5][6]. - Companies such as Changchuan Technology, Huafeng Measurement Control, and Xidian Co. are highlighted as key players with potential for growth in the domestic market [5][6].

华峰测控所属申万行业为：电子-半导体-半导体设备。所属概念板块包括：半导体、集成电路、芯片概 念、融资融券、中盘等。 截至9月30日，华峰测控股东户数1.02万，较上期增加45.32%；人均流通股13295股，较上期减少 31.18%。2025年1月-9月，华峰测控实现营业收入9.39亿元，同比增长51.21%；归母净利润3.87亿元，同 比增长81.57%。 分红方面，华峰测控A股上市后累计派现5.65亿元。近三年，累计派现3.36亿元。 机构持仓方面，截止2025年9月30日，华峰测控十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股851.11万股，相比上期减少33.30万股。嘉实上证科创板芯片ETF（588200）位居第七大流 通股东，持股183.91万股，相比上期减少8.84万股。易方达竞争优势企业混合A（010198）位居第九大 流通股东，持股165.35万股，为新进股东。易方达积极成长混合（110005）退出十大流通股东之列。 1月9日，华峰测控盘中下跌2.17%，截至11:01，报206.11元/股，成交3.93亿元，换手率1.39%，总市值 279.35亿元。 资金流向方面，主力 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 据统计，1月8日，盘后东诚药业、新开源披露增持情况。包括中微公司、*ST建艺（维权）、宏润建 设、ST易购、华峰测控、筑博设计、泰福泵业、来伊份、佳力图、沪硅产业、豫光金铅在内的11家A股 上市公司披露减持情况。 | | | 1.8上市公司盘后增持情况 | | --- | --- | --- | | 1 | 东诚药业 | 取得不超1.7亿元全融机构股票回购专项贷款承诺函 | | 2 | 新开源 | 拟以4000万元至5000万元回购股份并注销 | | | | 1.8上市公司盘后减持情况 | | 1 | 中微公司 | 巽鑫投资、董事长尹志尧拟合计减持不超2.05%公司股份 | | 2 | *ST建乙 | 股东孙昀拟减持不超1.23%股份 | | 3 | 宏汪健设 | 股东周美珍计划减持不超0.12%股份 | | ব | ST易购 | 杭州灏月1月5日至8日减持2020.22万股 | | 5 | 华峰测控 | 财务总监拟减持不超0.0021%股份 | | ഉ | 筑博设计 | 股东拟减持公司股份 | | 7 | 本福泉 / | 股东宏泰投资 ...

智通财经APP讯，华峰测控(688200.SH)发布公告，因自身资金安排需要，公司财务总监黄颖女士计划 通过集中竞价交易的方式减持公司股份合计不超过2879股，即不超过公司总股本的0.0021%。 ...

每经头条（nbdtoutiao）——独家对话特斯拉FSD跨美第一人：4400公里"零接管"，手没碰过方向盘！作 为激光雷达销售员，他为何站队马斯克的"纯视觉"？ （记者 王晓波） 每经AI快讯，华峰测控1月8日晚间发布公告称，因自身资金安排需要，公司财务总监黄颖女士计划通 过集中竞价交易的方式减持公司股份合计不超过2879股，即不超过公司总股本的0.0021%。本次减持期 间，公司股东通过集中竞价交易方式减持的，自本公告披露之日起15个交易日后的3个月内进行，且在 任意连续90个自然日内减持股份的总数不超过公司股份总数的1%。 ...

证券代码：688200 证券简称：华峰测控 公告编号：2026-001 北京华峰测控技术股份有限公司 高级管理人员减持股份计划公告 本公司董事会、全体董事及相关股东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： 董监高持有的基本情况 截至本公告披露日，公司财务总监黄颖女士直接持有公司股份 11,519 股， 占公司总股本比例 0.01%。 减持计划的主要内容 因自身资金安排需要，公司财务总监黄颖女士计划通过集中竞价交易的方式 减持公司股份合计不超过 2,879 股，即不超过公司总股本的 0.0021%。 本次减持期间，公司股东通过集中竞价交易方式减持的，自本公告披露之日 起 15 个交易日后的 3 个月内进行，且在任意连续 90 个自然日内减持股份的总数 不超过公司股份总数的 1.00%。 若减持期间公司有送股、资本公积转增股本、配股等股份变动事项，上述股 东减持股份数量将进行相应调整，减持价格根据市场价格及交易方式确定,且不 低于公司首次公开发行股票的发行价。 公司于近日收到黄颖女士出具的《关于股份减持计划的告知函》，现将减 ...

股票频道更多独家策划、专家专栏，免费查阅>> 1月7日，A股市场半导体设备股集体上涨，其中，芯源微20CM涨停，珂玛科技涨超14%，先锋精科涨 超12%，中微公司、富创精密涨超7%，北方华创、拓荆科技、盛美上海涨超6%，广立微、京仪装备、 华海清科涨超5%。值得注意的是，芯源微、珂玛科技、中微公司、北方华创、拓荆科技、华海清科、 长川科技、金海通纷纷创出历史新高。 责任编辑：栎树 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 688037 | 芯源微 | 1 | 20.00 | 385亿 | 28.47 | | 688809 | C强一 | 1 | 15.87 | 440亿 | 32.20 | | 301611 | 珂玛科技 | 来 | 14.27 | 497亿 | 33.03 | | 688605 | 先锋精科 | | 12.87 | 147亿 | 13.41 | | 688012 | 中微公司 | 1 | 7.96 | 2228亿 | 30.50 | | 688409 | 富创精密 | 1 | ...

MACD金叉信号形成，这些股涨势不错！ | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | --- | --- | --- | --- | --- | --- | | 688037 | 芯源微 | 1 | 20.00 | 385亿 | 28.47 | | 6888809 | C强一 | 1 | 15.87 | 440亿 | 32.20 | | 301611 | 珂玛科技 | 来 | 14.27 | 497亿 | 33.03 | | 688605 | 先锋精科 | | 12.87 | 147亿 | 13.41 | | 688012 | 中微公司 | 1 | 7.96 | 2228亿 | 30.50 | | 688409 | 富创精密 | 1 | 7.68 | 249亿 | 20.67 | | 002371 | 北方华创 | 1 | 6.96 | 3766亿 | 13.23 | | 688072 | 拓荆科技 | 1 | 6.74 | 1074亿 | 15.79 | | 688082 | 盛美上海 | | 6.22 | 944 Z | 11.62 | | 301095 | 广立微 | ...

1月7日，华峰测控涨5%，截至发稿，报209.35元/股，成交2.67亿元，换手率0.96%，总市值283.74亿 元。 资料显示，北京华峰测控技术股份有限公司位于北京市海淀区丰豪东路9号院5号楼1至5层101、102、 103，成立日期1993年2月1日，上市日期2020年2月18日，公司主营业务涉及半导体自动化测试系统的研 发、生产和销售。主营业务收入构成为：测试系统85.72%，配件13.86%，其他0.41%。 人保精选混合A（005041）成立日期2018年2月1日，最新规模8865.71万。今年以来收益3.07%，同类排 名4056/8823；近一年收益38.71%，同类排名3228/8083；成立以来收益69.59%。 人保精选混合A（005041）基金经理为吴若宗。 截至发稿，吴若宗累计任职时间3年54天，现任基金资产总规模9182.09万元，任职期间最佳基金回报 60.68%， 任职期间最差基金回报-1.52%。 责任编辑：小浪快报 从基金十大重仓股角度 数据显示，人保资产旗下1只基金重仓华峰测控。人保精选混合A（005041）三季度持有股数7329股， 占基金净值比例为1.66%，位居第九 ...

Group 1 - The semiconductor equipment index has significantly outperformed the market since the beginning of 2025, with a cumulative increase of 62.3% compared to the Shanghai Composite Index's 42.0% [3][13] - The semiconductor industry is experiencing high prosperity, with the global semiconductor market expected to reach a historical high of $760.7 billion in 2026, driven by AI [3][36] - The domestic semiconductor equipment market is seeing a strong recovery in wafer fab capacity utilization and expansion willingness, supported by the AI-driven storage supercycle [3][36] Group 2 - Four key investment directions are recommended: 1. Focus on etching and thin film equipment leaders driven by AI storage supercycle [3] 2. Domestic lithography machine production is expected to achieve mass production in 2026, boosting subsystem and component companies [3] 3. ALD equipment is entering a golden development period, especially in advanced logic and storage fields [3] 4. Advanced packaging continues to follow Moore's Law, providing significant opportunities for domestic equipment manufacturers [3] Group 3 - Investment suggestions include leading companies such as North China Innovation, Zhongwei Company, and TuoJing Technology, as well as high-elasticity targets like XinYuanWei and HuaHaiQingKe [3] - The overall revenue of the semiconductor equipment industry is projected to grow by 36% year-on-year in the third quarter of 2025, with leading companies maintaining high growth rates [15] - The overall net profit of the semiconductor equipment industry is expected to increase by 22% year-on-year in the third quarter of 2025, with significant profit acceleration from companies like Shengmei and TuoJing [15][24] Group 4 - The semiconductor industry is expected to continue its growth trajectory, with AI as the core engine driving the market [36] - The global semiconductor market is projected to grow at a compound annual growth rate of 5.6% from 2004 to 2024, with a significant recovery and expansion phase starting from 2023 [36] - The capital expenditure of the top eight cloud service providers is expected to increase by 40% in 2026, reaching $600 billion, further supporting the semiconductor market growth [36]