浙商鼎盈事件驱动混合(LOF)（169201）成立日期2016年12月7日，最新规模897.76万。今年以来收益 0.56%，同类排名8022/8861；近一年收益14.02%，同类排名5976/8126；成立以来收益66.55%。 浙商鼎盈事件驱动混合(LOF)（169201）基金经理为张雷。 截至发稿，张雷累计任职时间320天，现任基金资产总规模897.74万元，任职期间最佳基金回报 11.02%， 任职期间最差基金回报11.02%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，任何在本文出现的信息（包括但 不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验，因此本文内 容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 1月27日，华虹公司涨5.92%，截至发稿，报151.31元/股，成交23.03亿元，换手率3.89%，总市值 2629.18亿元。 资料显示，华虹半导体有限公司位于上海张江 ...

每经AI快讯，1月27日午后，半导体晶圆代工龙头华虹公司涨超8%，再创历史新高，总市值突破2000亿 元。 （文章来源：每日经济新闻） ...

半导体板块进一步走强，华虹公司、盛科通信盘中创新高，华天科技午后涨停，恒烁股份、国民技术涨 幅居前。 ...

华宝基金 半导体材料 聚焦『高精尖』·20CM 高弹性 上证科创板芯片ETF GEF # 589 90 1月27日 全 "芯"上市 這便科技 ·聚焦高精尖 更高收益 科创芯片指数长期表现突出,自基日以来累计涨幅超 161%,年化收益率17.93%,显著跑赢科创创业半导 体、国证芯片等同类指数。 科创芯片指数基日以来累计收益 161.34% 180% 151.85% 160% 140% 112.93% 104.77% 120% 100% 80% 60% 40% 20% 0% 科创创业半导体 国证本片 中证全指半导体 科创芯片 更低回撤 在保持较强进攻性的同时,科创芯片指数年化夏普比 率更高. 风险收益比更好. 区间最大回撤也较小。 科创创业 国证芯片 中证合指 创成片指数 未自休 术营体 年化收益率 13.86% 17.93% 17.19% 13.10% 年化夏普比率 0.54 0.52 0.63 0.63 年化波动率 39.64% 37.48% 35.83% 36.52% | -60.05% -61.73% -62.54% 区间最大回撤 | -56.81% | | | --- | --- | --- | | ...

中山证券表示，展望2026年，AI相关产业景气度有望维持，国产化加速有望带来国内半导体行业的机 会。根据有关机构预测，2026年云计算巨头资本支出有望维持40%以上的增长，AI行业的景气度有望维 持在较高水平。同时AI相关芯片国产化进程持续推进，有望带动国产设备材料公司股价表现好于电子 行业整体。 数据显示，截至2025年12月31日，上证科创板芯片指数前十大权重股分别为中芯国际、海光信息、寒武 纪、澜起科技、中微公司、拓荆科技、芯原股份、华虹公司、沪硅产业、东芯股份，前十大权重股合计 占比57.76%。 科创芯片ETF（588200）跟踪上证科创板芯片指数，是布局科创板芯片板块的便利工具。 截至2026年1月26日 10:19，上证科创板芯片指数下跌1.14%。成分股方面涨跌互现，芯原股份领涨 10.01%，东芯股份上涨6.92%，澜起科技上涨4.56%；天岳先进领跌，成都华微、华峰测控跟跌。 最新消息，三星电子今年第一季度将其NAND闪存的价格提高了一倍多，涨幅远超市场预期。目前三星 电子已经着手与客户就第二季度的NAND价格进行新一轮谈判，市场普遍预计价格上涨的势头将在第二 季度延续。 没有股票账户的场 ...

Global Research ab 20 January 2026 China Semi Equipment Strong litho imports point to accelerating expansion in tier-1 markets Litho drove China's solid SPE imports in Dec 2025 (+95% MoM/-9% YoY) China's semiconductor production equipment (SPE) imports rebounded strongly in December 2025, up 95% MoM, albeit down 9% YoY from the prior year's high base due to rising concerns over geopolitical uncertainties. In particular, we saw a strong pick-up in litho imports (a leading indicator of semiconductor manufactu ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 国家知识产权局信息显示，华虹半导体制造（无锡）有限公司；华虹半导体（无锡）有限公司申请一项 名为"一种预测焦点偏移的方法"的专利，公开号CN121398493A，申请日期为2025年9月。 专利摘要显示，本申请公开了一种预测焦点偏移的方法，包括：提供第一器件，第一器件表面形成有第 一多晶硅和第二多晶硅；确定第一多晶硅的第一厚度H1和第二多晶硅的第二厚度H2；确定第一器件中 的第一多晶硅的覆盖率C1和第二多晶硅的覆盖率C2；基于第一器件进行设计变更，以得到第二器件； 获取第二器件相对于第一器件的第一多晶硅覆盖率变化值∆C1、第二多晶硅覆盖率变化值∆C2；根据第 一厚度H1、第二厚度H2、第一多晶硅覆盖率变化值∆C1、第二多晶硅覆盖率变化值∆C2，得到零点平 面偏移量∆L；基于零点平面偏移量∆L，得到焦点偏移量∆F。本申请通过上述方案，能够在设计阶段预 测并补偿焦点偏移量，确定器件间焦点的变化，改善工艺窗口。 天眼查资料显示，华虹半导体制造（无锡）有限公司，成立于2022年，位于无锡市，是 ...

Summary of Hua Hong's Conference Call Company Overview - **Company**: Hua Hong (1347.HK) - **Industry**: Semiconductor Foundry Key Points and Arguments 1. **Growth Opportunities**: - Hua Hong is expected to benefit from structural growth opportunities due to clients' increasing preference for local foundries and the rising market share of Chinese fabless companies in the global supply chain [1][4] - The semiconductor industry in China is experiencing improving supply and demand dynamics, which supports Hua Hong's growth [1][5] 2. **Capacity Expansion**: - Hua Hong is ramping up capacity with the next fab targeting 28/22nm process nodes, which is anticipated to lead to long-term increases in average selling prices (ASP) [1][9] - Current capacity has reached 129k wafers per month, with plans for further expansion [9] 3. **UT Rate and ASP Improvement**: - The utilization (UT) rates for Hua Hong's 12" and 8" fabs are reported to be at elevated levels, indicating strong operational performance [4] - The improvement in UT rates is expected to support pricing enhancements, contributing to stronger earnings per share (EPS) growth potential [1][2] 4. **Earnings Revisions**: - Earnings forecasts for 2027-2029 have been revised upward by 1% due to a higher revenue outlook, reflecting anticipated demand for specialty technology chips [10] - Revenue projections for 2025E, 2026E, 2027E, 2028E, and 2029E are $2,397 million, $3,214 million, $4,037 million, $4,673 million, and $5,393 million respectively [11] 5. **Valuation and Price Target**: - The 12-month target price has been raised to HK$134, based on a target P/E of 78.1x for 2028E, reflecting a positive outlook driven by sustainable scale expansion and technology migration [1][25] - The target price represents a 26.7% upside from the current price of HK$105.80 [27] 6. **Risks**: - Key risks include weaker-than-expected end-market demand, slower ramp-up of the 12" fab, and uncertainties surrounding US-China trade relations [26] Additional Important Information - **Market Position**: Hua Hong is positioned as a leading foundry in China, focusing on specialty technologies across various end-markets including consumer electronics, communication, computing, and automotive [23] - **Financial Metrics**: - Gross margin is projected to improve from 11.8% in 2026E to 22.2% in 2029E [11] - Operating income is expected to turn positive by 2026E, reaching $173 million [11] This summary encapsulates the critical insights from the conference call regarding Hua Hong's growth prospects, operational performance, financial outlook, and associated risks.

Core Viewpoint - Goldman Sachs reports that Huahong Semiconductor (01347), as a leading foundry in China, is expected to benefit directly from the demand recovery trend, with solid gross margin improvement and optimized capacity utilization indicating stronger earnings per share growth potential [1] Group 1: Company Performance - Goldman Sachs maintains a "Buy" rating on Huahong Semiconductor and raises the target price from HKD 117 to HKD 134 [1] - The company is anticipated to remain on an upward trend, supported by factors such as customer preference for local foundries and the increasing market share of fabless companies in the global supply chain [1] - The semiconductor industry's supply-demand relationship in China is improving, contributing to structural growth opportunities [1] Group 2: Capacity and Revenue Outlook - With the next factory advancing to the 28/22nm process node, capacity is expected to continue expanding, indicating a long-term upward trend in average selling prices [1] - Recent signs of price increase momentum have led Goldman Sachs to raise Huahong's earnings forecasts for 2027 to 2029 by 1%, based on a more optimistic revenue outlook [1] - Revenue growth is projected to be stronger due to the demand for specialized technology chips, such as power management ICs and image sensors, benefiting from the growth of AI servers and AI smart edge devices [1] - With sustained high capacity utilization, there is more room for Huahong to optimize its order structure, leading to stronger revenue and profit performance [1]

Core Viewpoint - Goldman Sachs has issued a report indicating that Hua Hong Semiconductor (01347), as a leading foundry in China, is expected to benefit directly from the recovery in demand, with improved gross margins and optimized capacity utilization showing stronger potential for earnings per share growth [1] Group 1: Company Performance - Goldman Sachs maintains a "Buy" rating on Hua Hong Semiconductor and has raised the target price from HKD 117 to HKD 134 [1] - The company is anticipated to remain on an upward trend, supported by factors such as customer preference for domestic foundries and the increasing market share of fabless companies in the global supply chain [1] - The semiconductor industry's supply-demand dynamics in China are improving, and the expansion of capacity as the next factory moves towards the 28/22nm process node indicates a long-term upward trend in average selling prices [1] Group 2: Financial Projections - Recent signs of price increase have led Goldman Sachs to adjust its earnings forecasts for Hua Hong from 2027 to 2029 upwards by 1%, based on a more optimistic revenue outlook [1] - Revenue projections for 2027 to 2029 have been revised up by 1% to 2%, with expectations of stronger growth driven by demand for specialized technology chips, such as power management ICs and image sensors, benefiting from the growth of AI servers and AI edge devices [1] - With sustained high capacity utilization, there is more room for Hua Hong to optimize its order structure, leading to stronger revenue and profit performance [1]