Group 1 - Southbound funds net bought Hong Kong stocks worth 75.23 billion HKD today [1] - The top net purchases included Xiaomi Group-W at 9.66 billion HKD, China National Offshore Oil at 7.63 billion HKD, and Hua Hong Semiconductor at 6.05 billion HKD [1] - Southbound funds have net bought Xiaomi for eight consecutive days, totaling 51.9497 billion HKD [1] Group 2 - The top net sales were Tencent Holdings at 4.72 billion HKD, Alibaba-W at 3.61 billion HKD, and Kuaishou-W at 2.94 billion HKD [1]

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) announced on November 7 that it plans to issue shares to acquire a 49% stake in North Integrated Circuit Manufacturing (Beijing) Co., Ltd. (referred to as "North IC") [1] Group 1 - Since the disclosure of the proposal, the company, various intermediaries, and other relevant parties are actively advancing the related work for this transaction [1] - As of the announcement date, the audit, evaluation, and due diligence work related to this transaction have not yet been completed [1] - After the completion of the audit, evaluation, and due diligence, the company will convene a board meeting to review the relevant proposals for this transaction and will fulfill subsequent procedures and information disclosure obligations in accordance with relevant laws and regulations [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 中 芯 國 際 集 成 電 路 製 造 有 限 公 司 * （於開曼群島註冊成立之有限公司） （股份代號：00981） 海外監管公告 本公告乃中芯國際集成電路製造有限公司（Semiconductor Manufacturing International Corporation,「本公司」）根據香港聯合交易所有限公司證券上市規則第13.10B條作出。 茲載列本公司於上海證券交易所網站刊發的《關於發行股份購買資產暨關聯交易事項的進展公 告》，僅供參閱。 承董事會命 中芯國際集成電路製造有限公司 公司秘書 / 董事會秘書 郭光莉 中國上海，2025 年 11 月 7 日 於本公告日期，本公司董事分別為： 執行董事 劉訓峰 非執行董事 * 僅供識別 | A股代码：688981 | A股简称：中芯国际 | ...

关于发行股份购买资产暨关联交易事项的进展公告 本公司董事会及全体董事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、准确性和完整性承担法律责任。 | A股代码：688981 | A股简称：中芯国际 | 公告编号：2025-030 | | --- | --- | --- | | 港股代码：00981 | 港股简称：中芯国际 | | 中芯国际集成电路制造有限公司 1 公司于2025年9月9日在上海证券交易所网站（www.sse.com.cn）披露的《中 芯国际集成电路制造有限公司发行股份购买资产暨关联交易预案》等相关公告。 同日，经公司向上海证券交易所申请，公司股票（证券简称：中芯国际，证券 代码：688981）自2025年9月9日开市起复牌，具体内容详见公司于2025年9月9 日刊登在上海证券交易所网站（www.sse.com.cn）的《关于披露发行股份购买资 产暨关联交易预案暨公司股票复牌的提示性公告》（公告编号：2025-024）。 公司于 2025 年 10 月 9 日披露了《中芯国际集成电路制造有限公司关于发 行股份购买资产暨关联交易事项的进展公告》（公告编号：2025- ...

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) plans to acquire 49% of the equity in North Integrated Circuit Manufacturing Co., Ltd. through a share issuance [1] Group 1 - The transaction is still pending completion of auditing, evaluation, and due diligence work [1] - After the completion of the aforementioned processes, the company will convene a board meeting to review the relevant proposals for the transaction [1] - The company will comply with relevant laws and regulations for subsequent procedures and information disclosure obligations [1]

Investment Rating - The report assigns an "Increase" rating for the stocks mentioned, indicating a potential rise of over 15% relative to the CSI 300 index within the next 12 months [5][13]. Core Insights - The launch of the Shuguang scaleX640 marks a significant advancement in domestic computing power, achieving a 30-40% performance improvement in trillion-parameter model training and inference compared to traditional solutions [2][5]. - The scaleX640 enhances the cost-effectiveness of inference scenarios and is expected to accelerate the breakthrough of domestic computing chips in training applications [5]. - The report highlights the long-term stability of the scaleX640, which has undergone over 30 days of reliability testing, ensuring support for large-scale cluster deployments [5]. - The open architecture of the scaleX640 is anticipated to facilitate the integration of domestic computing software ecosystems and unify supernode structures, potentially leading to rapid iterations in domestic supernodes [5]. Summary by Sections Performance and Features - The scaleX640 boasts a 20-fold increase in computing density per cabinet and supports trillion-parameter model training, with a performance boost of 30-40% in inference scenarios compared to traditional methods [5]. - Innovative technologies such as ultra-high-speed orthogonal architecture, high-density blades, immersion phase change cooling, and high-voltage direct current power supply are employed in the scaleX640 [5]. Recommended Stocks - The report recommends the following stocks: - Cambrian-U (688256.SH) with a closing price of 1480.00 and an EPS forecast of 5.04 for 2025 [7]. - Haiguang Information (688041.SH) with a closing price of 239.68 and an EPS forecast of 1.34 for 2025 [7]. - SMIC (688981.SH) with a closing price of 124.85 and an EPS forecast of 0.46 for 2025 [7]. - Zhaoyi Innovation (603986.SH) with a closing price of 227.20 and an EPS forecast of 2.35 for 2025 [7]. - Shengke Communication-U (688702.SH) with a closing price of 119.31 and an EPS forecast of 0.04 for 2025 [7]. - The report also mentions Chipone Technology (688521) as a related stock [5].

Core Viewpoint - SMIC's stock price increased by 4.23% on November 6, with a trading volume of 9.061 billion yuan, indicating strong market interest and activity [1] Financing Summary - On November 6, SMIC had a financing buy-in amount of 1.549 billion yuan, with a net financing buy of 350 million yuan after 1.2 billion yuan was repaid [1] - The total financing and securities lending balance for SMIC reached 14.179 billion yuan, with the financing balance accounting for 5.67% of the circulating market value, indicating a high level of leverage [1] - The securities lending data showed a repayment of 18,300 shares and a sale of 9,305 shares, with a total selling amount of 1.1617 million yuan, while the securities lending balance was 32.65 million yuan, also at a high level [1] Company Performance - As of June 30, SMIC had 252,300 shareholders, a decrease of 2.20%, while the average circulating shares per person increased by 2.26% to 8,223 shares [2] - For the first half of 2025, SMIC reported a revenue of 32.348 billion yuan, a year-on-year increase of 23.14%, and a net profit attributable to shareholders of 2.301 billion yuan, up 39.76% year-on-year [2] - The top ten circulating shareholders included several ETFs, with notable increases in holdings, indicating growing institutional interest [2]

Core Viewpoint - The Chip 50 ETF (516920) opened with a decline of 1.42%, indicating a negative market sentiment towards the semiconductor sector [1] Group 1: ETF Performance - The Chip 50 ETF (516920) opened at 1.043 yuan, reflecting a decrease of 1.42% [1] - Since its establishment on July 27, 2021, the fund has achieved a return of 5.88%, while the return over the past month has been -5.62% [1] Group 2: Major Holdings Performance - Key holdings in the Chip 50 ETF experienced significant declines, including: - SMIC down 1.54% - Cambricon down 1.65% - Haiguang Information down 2.38% - Northern Huachuang down 0.83% - Lattice Semiconductor down 1.75% - Zhaoyi Innovation down 1.99% - Zhongwei Company down 1.11% - OmniVision down 0.53% - Chipone down 2.23% - JCET down 1.13% [1]

Group 1 - The core point of the article highlights the performance of the Science and Technology Innovation ETF (588050), which opened down by 1.15% at 1.457 yuan on November 7 [1] - Major holdings in the ETF experienced declines, with notable drops including SMIC down 1.54%, Haiguang Information down 2.38%, and Cambrian down 1.65% [1] - The ETF's performance benchmark is the Shanghai Stock Exchange Science and Technology Innovation Board 50 Index, managed by ICBC Credit Suisse Asset Management Company, with a return of 2.74% since its inception on September 28, 2020, and a recent one-month return of -3.88% [1]

Core Viewpoint - The Hang Seng Index opened up by 0.49%, while the Hang Seng Tech Index rose by 0.63%, indicating a positive market sentiment towards technology and energy-related sectors [1] Group 1: Market Performance - The Hang Seng Index experienced an increase of 0.49% at the opening [1] - The Hang Seng Tech Index saw a rise of 0.63% [1] Group 2: Sector Performance - Stocks related to power grid equipment, charging stations, and energy storage concepts showed strong performance [1] - Semiconductor companies such as Hua Hong Semiconductor and SMIC both increased by over 2% [1]