本周硬科技领域投融资重要消息包括：工信部：实施工业互联网与重点产业链"链网协同"行动；浙江： 统筹建设算力数据模型基础性工程；佰维存储回购股份资金总额调整为8000万元-1.5亿元。 》》政策 五部门：鼓励地方利用算力券、模型券、数据券等方式 在算力、算法、数据等方面提供便利和优惠 国家发展改革委、国家数据局、教育部、科技部、中共中央组织部发布关于加强数据要素学科专业建设 和数字人才队伍建设的意见。意见指出，建设典型应用场景。推动数据领域科技创新与产业创新深度融 合，构建企业主导的产学研用协同创新体系，建设一批数字人才培养典型应用场景。强化企业在应用场 景构建、技术需求识别、成果落地实施等方面的主导作用，支持高校、研究机构、科技社团等深入场景 前沿，加快培养一批复合型、创新型、实战型数字人才。探索技术专利联合开发，推动各方共享知识产 权收益，加速技术市场化。鼓励地方利用算力券、模型券、数据券等方式，在算力、算法、数据等方面 提供便利和优惠。 工信部：实施工业互联网与重点产业链"链网协同"行动 打造一批适配的工业互联网解决方案 工业和信息化部党组12月4日开展理论学习中心组学习。会议要求，要坚持系统观念，积极谋 ...

（文章来源：每日经济新闻） 每经AI快讯，12月5日，GPU指数盘中跌2%。成分股方面，景嘉微跌3.48%，芯原股份跌2.95%，海光 信息跌2.78%，龙芯中科跌2.18%，寒武纪-U跌2.12%。 ...

12月4日，A股科技板块反弹！科创芯片50ETF（588750）一度涨超2%，成交额大幅放量，盘中成交额超1.18亿元，已赶超昨日全天成交额，交投 显著活跃！ 科创芯片50ETF（588750）标的指数成分股多数冲高，光模块（CPO）、光芯片大涨，源杰科技涨超6%，拓荆科技涨超5%，华虹公司等涨超 4%，中微公司涨近4%%，海光信息、中芯国际等涨超1%，寒武纪、芯原股份等微涨。 | 序号 | 代码 | 名称 | 申万―级行业 | 涨跌幅 | 估算权重 ▼ | | --- | --- | --- | --- | --- | --- | | 1 | 688041 | 海光信息 | 曲子 | 1.55% | 10.45% | | 2 | 688556 | 寒武纪-U | 电子 | 0.61% | 9.03% | | 3 | 688981 | 中本国际 | 电子 | 1.76% | 8.83% | | 4 | 688008 | 澜起科技 | 曲子 | 0.85% | 8.81% | | 5 | 688012 | 中微公司 | 电子 | 4.06% | 7.62% | | 6 | 688521 | 芯原股份 | 电子 ...

Core Viewpoint - The major shareholders of Chip Origin Co., Ltd. (688521.SH) plan to reduce their holdings, which may impact the company's stock performance in the near term [1][2]. Shareholder Reduction Plans - The shareholders, collectively known as "Xingcheng Investment Parties," hold a total of 7.55% of the company's shares and plan to reduce their holdings by up to 5.2586 million shares, representing a maximum reduction of 1% [1]. - The "Guokai Fund" holds 0.4% of the shares and plans to reduce its holdings by up to 788,600 shares, representing a maximum reduction of 0.15% [1]. - In total, the shareholders plan to reduce up to 6.0472 million shares, which is a maximum reduction of 1.15% [1]. Stock Performance - As of December 1, the stock price of Chip Origin was 153.35 yuan per share, and the maximum cash that could be raised from the share reduction is estimated to be 9.27 billion yuan [1]. - The stock price has increased significantly, rising from 52.43 yuan per share at the beginning of 2025 to 153.35 yuan per share, marking a 192.49% increase [2]. Financial Performance - For the first three quarters of 2025, Chip Origin reported a revenue of 2.255 billion yuan, a year-on-year increase of 36.64% [2]. - The company continued to experience losses, with a net profit loss of 347 million yuan, although this represented a year-on-year reduction in losses of 12.42% [2]. Order Backlog and Growth Potential - In Q3 2025, the company achieved a record high revenue of 1.281 billion yuan, with a quarter-on-quarter increase of 119.26% and a year-on-year increase of 78.38% [3]. - The order backlog has remained high for eight consecutive quarters, reaching 3.286 billion yuan by the end of Q3 2025, with 83.52% of the orders coming from system manufacturers, large internet companies, cloud service providers, and automotive companies [3]. - Nearly 90% of the order backlog is from one-stop chip customization services, with an expected conversion rate of about 80% within a year, providing strong support for future revenue growth [3].

Core Insights - The A-share private placement market is experiencing significant participation from public funds in 2025, with 33 fund companies involved and a total allocation amounting to 17.3 billion yuan, representing a 140% increase compared to the entire year of 2024 [1][5][8] Group 1: Market Participation - Public funds have shown a marked increase in enthusiasm for private placements, with a total allocation of 17.3 billion yuan in 2025, up from 7.2 billion yuan in 2024, indicating a growth of over 100 billion yuan [5][6] - Leading public fund companies include E Fund with 3.687 billion yuan, followed by GF Fund, Fortune Fund, and China Universal Fund with allocations of 2.288 billion yuan, 1.529 billion yuan, and 1.463 billion yuan respectively [5][6] Group 2: Investment Focus - The investment focus of public funds is heavily concentrated in hard technology sectors, particularly in semiconductors, artificial intelligence, and innovative pharmaceuticals, reflecting a strong alignment with the ongoing "technology bull" market [6][8] - Notable allocations in the electronics sector reached 7.45 billion yuan, while the biopharmaceutical sector saw allocations of 5.6 billion yuan, targeting companies like Cambricon, Chipone, and innovative drug firms [6][8] Group 3: Market Drivers - The resurgence of private placements is driven by three main factors: policy incentives, a safety margin due to discount pricing, and significant profit potential observed by participating public funds [8] - The current trend shows increased participation, improved returns, and a strong focus on technology and high-end manufacturing sectors, with expectations for continued growth in public fund involvement in private placements [8]

Core Insights - The A-share private placement market is experiencing significant growth, with public funds participating deeply in 2025, leading to a total allocation of 17.3 billion yuan, a 140% increase compared to the entire year of 2024 [1][3][4] Group 1: Market Participation - A total of 33 public fund companies have participated in private placements, with the leading fund, E Fund, securing 3.687 billion yuan [3][4] - Other notable funds include GF Fund, Fortune Fund, and China Universal Fund, with allocations of 2.288 billion yuan, 1.529 billion yuan, and 1.463 billion yuan respectively [3][4] - The trend shows a competitive landscape where larger funds dominate, but smaller funds are also actively participating [3][4] Group 2: Investment Focus - Public funds are primarily focusing on hard technology sectors, particularly semiconductors, artificial intelligence, and innovative pharmaceuticals, reflecting a strong alignment with industry trends [4][5] - The electronic industry received 7.45 billion yuan in allocations, while the biopharmaceutical sector saw 5.6 billion yuan, with key companies like Cambricon, Chipone, and Bairi Tianheng being major targets [4][5] Group 3: Market Drivers - The resurgence in private placements is driven by three main factors: policy incentives, built-in discount safety, and significant profit potential [7] - The favorable policy environment encourages capital market support for the real economy, especially in technology sectors [7] - The overall performance of public funds in private placements has been strong, further motivating institutional participation [7]

Core Insights - The A-share private placement market is experiencing significant participation from public funds in 2025, with a total allocation amount reaching 17.3 billion yuan, marking a 140% increase compared to the entire year of 2024 [1][7]. Group 1: Market Participation - A total of 33 public fund companies have participated in private placements in 2025, with the leading company, E Fund, securing 3.687 billion yuan [3][10]. - Other notable participants include GF Fund, Fortune Fund, and China Universal Fund, with allocations of 2.288 billion yuan, 1.529 billion yuan, and 1.463 billion yuan respectively [3][10]. - The trend shows a competitive landscape where larger firms dominate, but smaller firms are also actively participating [3][10]. Group 2: Investment Focus - Public fund investments are heavily concentrated in hard technology sectors, particularly semiconductors, artificial intelligence, and innovative pharmaceuticals [5][12]. - In the electronics sector, public funds have allocated 7.45 billion yuan, while in the biopharmaceutical sector, the allocation reached 5.6 billion yuan [5][13]. - Key companies receiving significant allocations include Baile Tianheng, Cambricon, Chipone, and Dizhe Pharmaceutical, each exceeding 1 billion yuan in public fund allocations [5][14]. Group 3: Drivers of Growth - The resurgence in private placements is driven by three main factors: policy incentives, a safety margin from discounts, and significant profit potential [6][14]. - The favorable policy environment encourages capital market support for the real economy, particularly in technology sectors [6][14]. - The overall performance of public funds in private placements has been strong, further motivating institutional participation [6][14].

Core Viewpoint - The A-share private placement market is experiencing significant participation from public funds in 2025, with a total allocation amount reaching 17.3 billion yuan, marking a 140% increase compared to the entire year of 2024 [1][3][5] Group 1: Participation and Investment Trends - A total of 33 public fund companies have participated in private placements in 2025, with the total allocation amount reaching 17.3 billion yuan, a substantial increase from 7.2 billion yuan in 2024 [3][9] - Leading public fund institutions, such as E Fund, GF Fund, and others, are taking the lead in this investment trend, with E Fund alone allocating 3.687 billion yuan [3][10] - The investment focus is heavily on hard technology sectors, particularly semiconductors, artificial intelligence, and innovative pharmaceuticals, reflecting a strong market sentiment [4][11] Group 2: Fund Allocation and Sector Focus - Public funds have allocated 7.45 billion yuan in the electronics sector and 5.6 billion yuan in the biopharmaceutical sector, targeting key companies like Cambricon and Dize Pharmaceutical [4][11][12] - The most favored private placement projects in 2025 include companies like Baile Tianheng and Cambricon, each receiving over 1 billion yuan in public fund allocations [12] Group 3: Drivers of Market Activity - The resurgence of private placements is driven by three main factors: policy incentives, a safety margin from discounts, and significant profit potential [5][13] - Policies encouraging capital market support for the real economy, especially in technology, have created a favorable environment for refinancing [6][13] - The overall performance of public funds in private placements has been strong, further motivating institutional participation [6][13]

证券之星消息，12月2日半导体板块较上一交易日下跌1.52%，芯原股份领跌。当日上证指数报收于 3897.71，下跌0.42%。深证成指报收于13056.7，下跌0.68%。半导体板块个股涨跌见下表： 从资金流向上来看，当日半导体板块主力资金净流出63.49亿元，游资资金净流入24.02亿元，散户资金净 流入39.48亿元。半导体板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 300456 | 赛微电子 | 2.11 亿 | 2.12% | 1265.38万 | 0.13% | -2.24 Z | -2.25% | | 688525 | 佰维存储 | 1.90 Z | 4.78% | 6813.26万 | 1.72% | -2.58亿 | -6.49% | | 688126 沪硅产业 | | 1.82 Z | 14.17% | -8863.18万 | -6.91% | -9307.37万 ...

Core Viewpoint - The report from Western Securities highlights the growth potential of Chip Origin Technology Co., Ltd. (688521.SH) in the semiconductor industry, particularly in the context of AI demand and domestic ASIC development [1] Financial Projections - Expected revenues for Chip Origin are projected to be 3.267 billion, 4.661 billion, and 5.871 billion yuan for the years 2025, 2026, and 2027 respectively [1] - Corresponding price-to-sales (PS) ratios are estimated at 25, 18, and 14 times for the same years [1] Company Positioning - Chip Origin is recognized as the first semiconductor IP stock in China, currently possessing six types of self-controlled processor IPs [1] - The acquisition of Chip Lai Zhirong is expected to address the shortfall in CPU IP capabilities [1] Market Trends - The company is anticipated to benefit from the accelerated progress in domestic ASIC self-research and the growing demand for AI end-testing [1] - Two main business segments, IP licensing and custom chip design, are expected to continue to gain from these trends [1] Analyst Rating - The initial coverage by Western Securities assigns an "Overweight" rating to Chip Origin, indicating a positive outlook for the company's future performance [1]