从资金流向上来看，当日数字人民币板块主力资金净流出2.58亿元，游资资金净流出8.67亿元，散户资 金净流入11.25亿元。数字人民币板块个股资金流向见下表： 证券之星消息，2月12日数字人民币板块较上一交易日上涨1.28%，芯原股份领涨。当日上证指数报收 于4134.02，上涨0.05%。深证成指报收于14283.0，上涨0.86%。数字人民币板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

2月12日，A股市场震荡上行，科创芯片板块午后异军突起！截至14:53，科创芯片ETF汇添富（588750）涨超2%，环比小幅放量！ 科创芯片ETF汇添富（588750）标的指数成分股多数冲高，芯原股份涨近13%，佰维存储涨超7%，寒武纪涨超3%，海光信息涨超2%，中芯国际等涨幅居 前。 | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 估算权車 | | --- | --- | --- | --- | --- | --- | | 1 | 688041 | 海光信息 | 电子 | 2.89% | 10.20% | | 2 | 688008 | 淘起科技 | 曲子 | -0.86% | 9.96% | | 3 | 688981 | 中心国际 | 电子 | 1.41% | 8.67% | | 4 | 688012 | 中微公司 | 电子 | -0.67% | 7.79% | | 5 | ୧୫୫25୧ | 寒武纪-U | 电子 | 3.17% | 6.71% | | 6 | 688521 | 芯原股份 | 电子 | 12.92% | 4.48% | | 7 | 688498 | 源杰科技 | 电子 | ...

Core Viewpoint - The article highlights the significant performance of the Huabao AI ETF (589520), which has a weight of over 29% in the ByteDance industrial chain, and the upcoming release of major upgrades to the Doubao model by ByteDance on February 14, 2024 [1][3]. Group 1: ETF Performance - The Huabao AI ETF (589520) saw an intraday increase of 3.57%, currently up 3.42%, and has recovered all moving averages [1]. - Notable stocks within the ETF include Youke De-W, which surged by 20.01%, and other companies like Chuangliang Co. and Xinyuan Co. showing significant gains [2][4]. Group 2: ByteDance Developments - ByteDance is set to release the Doubao model 2.0, along with upgrades to the Seedance 2.0 and Seedream 5.0 models, enhancing foundational model capabilities and enterprise-level agent functionalities [2][3]. - The Seedance 2.0 video generation model has gained widespread popularity, and ByteDance plans to distribute over 100,000 tech gifts and cash red envelopes during the 2026 Spring Festival Gala [3]. Group 3: Industry Outlook - Guolian Minsheng Securities expresses optimism about AI investment opportunities, citing four dimensions of industry growth: increased capital expenditure by tech giants, the transition of AI assistants to executors, ongoing supply-demand tension in computing infrastructure, and the acceleration of AI application demand [3]. - The Huabao AI ETF focuses on the domestic AI industry chain, with significant allocations in semiconductor and software sectors, indicating a strong offensive strategy [6].

在半导体产业链的全球分工中，芯片设计处于产业链的顶端。由于其具备高研发投入、高毛利率以及轻资产运行的特征，被公认为行业内附加值最高的环 节。随着科创板聚集了越来越多的芯片设计龙头，如何有效观测这一环节的波动？科创芯片设计ETF易方达(589030) 作为一个标准化的观察工具，提供了清 晰的资产透视维度。 1、指数底色：纯粹的"设计"基因 科创芯片设计ETF易方达(589030) 紧密跟踪上证科创板芯片设计主题指数。从编制逻辑来看，该指数的"纯度"非常高。它专门从科创板中筛选出主营业务属 于半导体设计的上市公司，如计算芯片、存储芯片、模拟芯片等，且剔除了重资产的晶圆制造和后端封测。 根据公开披露数据，数字芯片设计和模拟芯片设计为该指数的前两大权重行业，合计占比超90%。这一结构特征决定了该指数能够精准映射芯片设计环节的 整体景气度，而不受制造端资本开支波动的干扰。 | 证券代码 | 证券名称 | 中证—级行业分类 | 中证二级行业分类 | 权重(%) | | --- | --- | --- | --- | --- | | 688008 | 演起科技 | 信息技术 | 法當体 | 12.19 | | 688041 ...

3、确认MX回片且测试OK，年内后续量产进展需要跟踪。 3、确认MX回片且测试OK，年内后续量产进展需要跟踪。 2、确认阿里 PPU大量上线三星，项目参与度略低于字节，利润可看200-300美金/颗。 4、确认字节存在晶圆加单，为总体需求量 芯原股份交流更新：重视ASIC赛道扩容&份额提升双击 核心CSP及GPU客户跟踪： 1、确认新与腾讯落地加速卡、DPU，项目参与度高于字节，达到turnkey级别。 2、确认阿里 PPU大量上线三星，项目参与度略低于字节，利润可看200-300美金/颗。 芯原股份交流更新：重视ASIC赛道扩容&份额提升双击 核心CSP及GPU客户跟踪： 1、确认新与腾讯落地加速卡、DPU，项目参与度高于字节，达到turnkey级别。 1、近期字节和阿里自研卡等相关国产算力催化繁多，认为需要重视ASIC。 2、市场空间：不算中远期，只算明年，芯原面对的是阿里 400-500亿，字节300-400亿，腾讯未知，百度未知，千 亿以上市场，即便15%净利率也有150亿利润空间。 3、久期问题：ASIC角色会伴随国产算力市场壮大而长期存在，初期的项目经验和核心IP积累就是护城河。 4、确认字节存在 ...

2月10日，两市窄幅震荡，芯片设计概念上涨。相关ETF方面，科创芯片设计ETF天弘（589070）标的 指数收盘涨1.25%，产品成交额达4854.67万元。成分股中，芯原股份、新相微、东芯股份、盛科通信-U 涨超5%，翱捷科技-U、海光信息、安路科技等多股跟涨。 科创芯片设计ETF天弘（589070）上市以来累计获资金净流入6934.91万元。截至2026年2月9日，该基 金最新规模为6.54亿元，再创上市以来新高。 科创芯片设计ETF天弘（589070）通过聚焦科创板芯片设计企业，实现了三大细分赛道的全覆盖，既能 够捕捉单一赛道的爆发式增长，又能通过赛道分散降低个股风险。当前半导体行业处于复苏周期，叠加 政策与需求双重利好，科创芯片设计ETF天弘（589070）的配置价值进一步凸显。 消息面上，据搜狐科技报道，阿里巴巴于2月10日正式推出新一代图像生成模型Qwen-Image-2.0，其负 责人吴晨飞以"准多齐美真"概括模型在精准渲染、复杂指令支持及中文排版上的核心优势。另据南方财 经网消息，该模型在AIArena评测中获得1029分，超越多款国际竞品，并支持1K长文本输入与2K高分辨 率输出。品玩亦指出 ...

行 2026 年 02 月 10 日 AI PCB/存储/服务器业绩高增，封 行 业 研 究 / 行 业 点 评 相关研究 《生益电子（688183）深度：受益 AI ASIC 与交换机速率升级（AI 硬件系列之 6）》 2025/12/30 《江丰电子（300666）点评：定增拟募资 19.5 亿元，投资靶材及静电吸盘等项目》 2025/11/17 证券分析师 杨海晏 A0230518070003 yanghy@swsresearch.com 研究支持 袁航 A0230521100002 yuanhang@swsresearch.com 杨紫璇 A0230524070005 yangzx@swsresearch.com 陈俊兆 A0230124100001 chenjz@swsresearch.com 联系人 姜安然 A0230125070008 jiangar@swsresearch.com 本期投资提示： 业 及 产 业 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使 ...

Market Overview - A-shares experienced narrow fluctuations, with the Sci-Tech Innovation Board showing strong performance, particularly in AI applications and computing chips [1] - The Hong Kong stock market saw a significant rebound in the pharmaceutical sector, with the Hong Kong Innovation Drug ETF (520880) reaching a peak increase of 3.86% and closing up 2.9% [3][5] ETF Performance - The Hong Kong Innovation Drug ETF (520880) recorded a trading volume of 5.9 billion, while the Hong Kong Medical ETF (159137) rose by 2.1%, marking its sixth consecutive day of gains [2][3] - The Sci-Tech Artificial Intelligence ETF (589520) increased by 1.81%, with a peak rise of over 2.4% during the trading session [8] Industry Insights - The Chinese innovative drug sector is experiencing a dual breakthrough in internationalization and commercialization, with over 70% of innovative drug companies reporting positive revenue growth [6][7] - Significant collaborations in the innovative drug space include a strategic partnership between Innovent Biologics and Eli Lilly, valued at up to $8.85 billion, and a $18.5 billion collaboration between CSPC Pharmaceutical and AstraZeneca [6] AI and Technology Developments - ByteDance's recent launches, including the Seedance 2.0 video generation model and Seedream 5.0 image generation model, have generated significant interest in the AI sector [11] - The Sci-Tech Artificial Intelligence ETF (589520) has a substantial exposure to ByteDance, with a weight of 29.42% in its index [11][13] Semiconductor and Chip Industry - The semiconductor equipment industry is experiencing an upward trend, with projected sales growth of 26% in 2026, reaching $791.7 billion [17] - The Sci-Tech Chip ETF (589190) is positioned to benefit from the ongoing "super cycle" in the semiconductor industry, with a focus on domestic production and expansion [15][17] Investment Strategy - Analysts suggest that the current market conditions present a favorable opportunity for investment in innovative drugs and AI sectors, with a recommendation to focus on ETFs that track these industries [7][19] - The Sci-Tech Chip ETF has shown a strong annualized return of 17.93%, outperforming other semiconductor indices [19][20]

Group 1 - The core viewpoint of the article highlights the strong performance of computing hardware, storage chips, and semiconductor equipment, with significant stock price increases for companies like Chip Origin and Huafeng Measurement Control [1][10] - The global memory price is expected to surge by 80% to 90% in Q1 2026, marking an unprecedented increase, driven by the AI wave, with storage revenue projected to reach $551.6 billion [2][11] - The semiconductor equipment industry is experiencing an upward trend, with total sales expected to reach $791.7 billion in 2025 and grow by 26% in 2026, indicating a faster-than-expected approach to the $1 trillion milestone [3][11] Group 2 - Domestic storage industry investment opportunities are viewed positively due to the rapid growth in AI server demand and domestic substitution trends [3][11] - The Sci-Tech Chip ETF Huabao (589190) tracks the Sci-Tech Board Chip Index, which includes 50 companies across the semiconductor supply chain, with over 90% weight in core areas like integrated circuits and semiconductor equipment [3][11] - The annualized return of the Sci-Tech Chip Index since its inception is 17.93%, outperforming similar indices, with a lower maximum drawdown, indicating a favorable risk-return profile [5][13]

Core Viewpoint - The digital RMB sector experienced a 1.2% increase on February 10, with Chip Origin Technology leading the gains, reflecting positive market sentiment towards digital currency initiatives [1]. Market Performance - The Shanghai Composite Index closed at 4128.37, up 0.13% - The Shenzhen Component Index closed at 14210.63, up 0.02% [1]. Digital RMB Sector Stocks - Chip Origin Technology (688521) closed at 239.00, up 8.54%, with a trading volume of 218,100 shares and a transaction value of 5.184 billion yuan - Digital Vision (300079) closed at 6.76, up 8.16%, with a trading volume of 2,398,300 shares and a transaction value of 1.635 billion yuan - ST Tianxiang (300205) closed at 4.78, up 7.90%, with a trading volume of 84,400 shares and a transaction value of 39.502 million yuan - Other notable stocks include Guotou Intelligent (300188) up 7.57% and Dongfang Guoxin (300166) up 6.30% [1]. Capital Flow Analysis - The digital RMB sector saw a net outflow of 357 million yuan from institutional investors, while retail investors contributed a net inflow of 288 million yuan [2]. - Notable stocks with significant capital inflows include Guotou Intelligent with a net inflow of 1.29 billion yuan from institutional investors [3]. ETF Information - The Entrepreneurial Board Artificial Intelligence ETF (product code: 159381) tracks the performance of the Entrepreneurial Board AI Index, with a recent five-day change of 1.28% and a net redemption of 672.5 million yuan [6]. - The Science and Technology Innovation Artificial Intelligence ETF (product code: 589010) tracks the Shanghai Stock Exchange Science and Technology Innovation Board AI Index, with a recent five-day change of -0.43% and a net subscription of 276.27 million yuan [6].