Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Insights - The new materials sector is a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate their long-term growth. The report emphasizes that "one generation of materials leads to one generation of industries," highlighting the foundational nature of the new materials industry as the material basis for other industries [5][15]. Summary by Relevant Sections 1. Electronic Information Sector - Focus on semiconductor materials, display materials, and 5G materials [6] - Recent developments include NVIDIA's announcement of its new AI supercomputing platform, Vera Rubin, which has entered full production. The platform features six independent chips, with the Rubin GPU achieving a peak computing power of 50 Petaflops and a training performance 3.5 times that of its predecessor [7][37]. 2. Aerospace Sector - Focus on PI films, precision ceramics, and carbon fiber [8] - The successful acquisition of a production license for the AS700 manned airship marks a significant milestone for China's aerospace industry, indicating a shift towards standardized and commercialized production [9][10]. 3. New Energy Sector - Focus on photovoltaics, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials [10] - A notable development is the introduction of the world's first all-solid-state battery by a Finnish startup, set to enter OEM mass production [11]. 4. Biotechnology Sector - Focus on synthetic biology and scientific services [12] - Beijing's economic development zone has announced measures to support the innovation and development of the synthetic biology manufacturing industry, aiming to establish a globally influential industry cluster by 2028 [13]. 5. Energy Conservation and Environmental Protection Sector - Focus on adsorbent resins, membrane materials, and biodegradable plastics [14] - The Guangxi government has issued a plan for green mine construction, aiming for over 90% of large and medium-sized mines to meet green standards by the end of 2028 [15]. 6. Industry Rating and Investment Strategy - The new materials sector is expected to benefit from the catalytic effects of downstream application sectors, gradually entering a prosperous cycle, thus maintaining a "Recommended" rating for the new materials industry [15].

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The competition in AI entry points is intensifying, with major companies increasing their investments. China's AI presence globally has significantly improved, with domestic large models continuously iterating. Despite GPT-5.2 and Gemini 3 Pro leading, Chinese models have effectively altered the North American dominance in the competitive landscape. In the global Top 10, three positions are held by Chinese models, and in the Top 15, there are six Chinese companies. By 2025, China's open-source AI model usage is expected to account for over 70% of the global market [2][11][19] - The demand for inference has surged, with the emergence of o1 class inference models unlocking approximately 10 times the potential of traditional models in terms of inference-time compute. The demand for computing power has shifted from being solely "training-driven" to a dual focus on "training + inference" [2][5][37] - The battle for entry points has evolved beyond mobile devices to OS-level intelligent agents and super apps. By December 24, 2025, ByteDance's AI application Doubao announced daily active users (DAU) exceeding 100 million, while Qianwen App reached over 30 million monthly active users within 23 days of public testing, becoming the fastest-growing AI application globally. Doubao bypasses traditional interfaces, creating an "AI operating system" that directly interacts with super apps like WeChat and Alipay, challenging the rules of the traditional app era [2][44][45] Summary by Sections AI Entry Point Competition - China's AI global presence has significantly improved, with domestic large models continuously iterating. In the global Top 10, three positions are held by Chinese models, and in the Top 15, there are six Chinese companies. By 2025, China's open-source AI model usage is expected to account for over 70% of the global market [2][11][19] - The competition for entry points has evolved beyond mobile devices to OS-level intelligent agents and super apps, with significant user engagement reported for new AI applications [2][44][45] Domestic Chip Breakthroughs - The smart computing center in China is expanding, with a projected compound annual growth rate (CAGR) of 57% from 2020 to 2028, reaching 2,781.9 EFLOPS by 2028. Domestic chip technology is steadily improving, with local cloud service providers accelerating the construction of heterogeneous environments [5][50] - Domestic general-purpose GPUs are upgrading from "usable" to "good," with performance metrics approaching those of leading international models. The production capacity of domestic chip manufacturers like SMIC is continuously increasing, providing solid support for domestic AI chip production [5][53][54] Supply and Demand Dynamics - The demand side is characterized by a surge in inference demand as AI applications become more prevalent, while the supply side sees continuous improvements in domestic GPU performance and accelerated adaptation by cloud service providers [5][59] - The AI server market is expected to see a shift towards inference servers becoming the mainstream, with a projected market size of approximately $39.3 billion in 2024, reflecting a year-on-year growth of 49.7% [5][64]

证券时报·数据宝统计显示，科创板股今日上涨的有453只，下跌的有141只，以收盘价为基准测算，科 创板平均股价为47.26元，其中，收盘价超过100元的有92只，股价在50元至100元之间的有157只，股价 在30元至50元的有150只。 以最新收盘价计算，科创板平均股价为47.26元，其中股价超100元的有92只，股价最高的是寒武纪-U。 融资融券方面，百元股最新（1月8日）融资余额合计1185.90亿元，融资余额居前的有寒武纪-U、中芯 国际、海光信息等，最新融资余额分别为162.78亿元、134.64亿元、75.91亿元。最新融券余额合计为 5.16亿元，融券余额居前的有寒武纪-U、海光信息、中芯国际等，最新融券余额分别为0.38亿元、0.37 亿元、0.35亿元。（数据宝） 科创板百元股一览 | 代码 | 简称 | 最新收盘价（元） | 今日涨跌（%） | 换手率（%） | 行业 | | --- | --- | --- | --- | --- | --- | | 688256 | 寒武纪-U | 1491.00 | 3.25 | 2.44 | 电子 | | 688498 | 源杰科技 | 752.00 ...

电子行业今日上涨0.91%，全天主力资金净流出91.49亿元，该行业所属的个股共476只，今日上涨的有 319只，涨停的有3只；下跌的有147只。以资金流向数据进行统计，该行业资金净流入的个股有180只， 其中，净流入资金超亿元的有24只，净流入资金居首的是蓝思科技，今日净流入资金6.03亿元，紧随其 后的是长电科技、海光信息，净流入资金分别为5.13亿元、4.57亿元。电子行业资金净流出个股中，资 金净流出超亿元的有38只，净流出资金居前的有信维通信、中芯国际、胜宏科技，净流出资金分别为 15.41亿元、8.62亿元、6.15亿元。（数据宝） 电子行业资金流入榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 300433 | 蓝思科技 | 14.13 | 6.17 | 60311.56 | | 600584 | 长电科技 | 5.64 | 7.54 | 51335.74 | | 688041 | 海光信息 | 2.02 | 1.49 | 45739.85 | | 002241 | 歌尔股份 | ...

沪深两市全天主力资金净流出241.26亿元，其中，科创板主力资金净流出54.49亿元，主力资金净流入的 有224只股，主力资金净流出的有376只股。 证券时报·数据宝统计显示，今日科创板个股上涨的有453只，涨停的有信科移动-U、震有科技等3只， 下跌的有141只。 资金流向方面，今日主力资金净流入的科创板股共有224只，其中，12只个股主力资金净流入超亿元， 海光信息主力资金净流入4.57亿元，净流入资金居首；信科移动-U、强一股份紧随其后，全天净流入资 金分别为3.37亿元、3.23亿元。主力资金净流出的有376只，净流出资金最多的是中芯国际，该股今日下 跌0.98%，全天主力资金净流出8.62亿元，其次是中微公司、东芯股份，主力资金净流出分别为5.31亿 元、4.65亿元。 从主力资金连续性进行观察，共有56只个股主力资金连续3个交易日以上持续净流入，连续流入天数最 多的是安旭生物，该股已连续10个交易日净流入；连续净流入天数较多的还有誉辰智能、福昕软件等， 主力资金分别连续流入9天、8天。主力资金连续流出的个股有143只，连续流出天数最多的是达梦数 据，该股已连续23个交易日净流出；连续净流出天数较多 ...

Core Viewpoint - SMIC (Semiconductor Manufacturing International Corporation) is experiencing a decline in stock price and trading volume, with significant investments from the National Integrated Circuit Industry Investment Fund, indicating potential growth in the semiconductor sector [1][2]. Company Overview - SMIC is the largest and most advanced integrated circuit manufacturing enterprise in mainland China, providing a range of services including wafer foundry, design services, and IP support [2]. - The company specializes in various technology nodes from 0.35 microns to 14 nanometers, with wafer foundry services accounting for 93.83% of its revenue [5]. - As of September 30, 2025, SMIC reported a revenue of 49.51 billion yuan, representing a year-on-year growth of 18.22%, and a net profit of 3.82 billion yuan, up 41.09% year-on-year [5]. Investment and Shareholding - The National Integrated Circuit Industry Investment Fund holds a 1.61% stake in SMIC, reflecting government support for the semiconductor industry [2]. - As of September 30, 2025, the number of shareholders increased to 336,200, with an average of 6,134 shares held per shareholder, a decrease of 25.41% from the previous period [5]. Market Activity - On January 9, SMIC's stock price fell by 0.98%, with a trading volume of 6.582 billion yuan and a market capitalization of 1,031.093 billion yuan [1]. - The stock has seen a net outflow of 783 million yuan from major investors, indicating a trend of reduced investment in the company [3][4]. Technical Analysis - The average trading cost of SMIC shares is 123.11 yuan, with the stock price approaching a support level of 125.50 yuan, suggesting potential volatility if this support is breached [4].

资料显示，中芯国际集成电路制造有限公司位于上海市浦东新区张江路18号,香港中环康乐广场8号交易 广场1期29楼，成立日期2000年4月3日，上市日期2020年7月16日，公司主营业务涉及提供0.35微米至14 纳米多种技术节点、不同工艺平台的集成电路晶圆代工及配套服务。主营业务收入构成为：集成电路晶 圆代工93.83%，其他6.17%。 截至9月30日，中芯国际股东户数33.62万，较上期增加33.27%；人均流通股6134股，较上期减少 25.41%。2025年1月-9月，中芯国际实现营业收入495.10亿元，同比增长18.22%；归母净利润38.18亿 元，同比增长41.09%。 机构持仓方面，截止2025年9月30日，中芯国际十大流通股东中，易方达上证科创板50ETF（588080） 位居第五大流通股东，持股5730.50万股，相比上期减少1650.36万股。华夏上证科创板50成份ETF （588000）位居第六大流通股东，持股5599.90万股，相比上期减少3972.76万股。华夏上证50ETF （510050）位居第七大流通股东，持股3797.30万股，相比上期减少103.16万股。华泰柏瑞沪深30 ...

半导体 2026 年 01 月 08 日 投资评级：看好（维持） 《供应链安全事件催化，半导体材料/ 设备自主可控有望提速—行业点评报 告》-2026.1.8 《半导体释放涨价信号，晶圆厂、存 储、模拟有望进入价格上行期—行业 点评报告》-2025.12.25 《高端先进封装：AI 时代关键基座， 重视自主可控趋势下的投资机会—行 业深度报告》-2025.8.15 AI 算力自主可控的全景蓝图与投资机遇 ——行业投资策略 | 陈蓉芳（分析师） | 陈瑜熙（分析师） | | --- | --- | | chenrongfang@kysec.cn | chenyuxi@kysec.cn | | 证书编号：S0790524120002 | 证书编号：S0790525020003 | 行业走势图 -17% 0% 17% 34% 50% 67% 84% 2025-01 2025-05 2025-09 2026-01 半导体 沪深300 数据来源：聚源 相关研究报告 chenyuxi@kysec.cn 证书编号：S0790525020003 AI 正在以前所未有的速度和维度增长 空间层面：根据弗若斯特沙利文预测，到 20 ...

（编辑 姚尧） 证券日报网讯 1月8日，创元科技在互动平台回答投资者提问时表示，公司全资子公司江苏苏净是国内 洁净环保领域技术创新、装备制造和工程整体解决方案的综合供应商，可为泛半导体行业提供相关产品 和服务。江苏苏净是上海微电子、中芯国际、海力士的合格供应商，目前，其业务体量不大，对公司收 益影响较小。江苏苏净将继续加大研发投入，加快技术攻坚工作和科技成果转化，进一步深入挖掘行业 需求和业务潜能，打造新质生产力，切实推动公司高质量发展。 ...

Group 1 - The core point of the article highlights significant movements in the semiconductor industry, particularly acquisitions and investments by major players like SMIC, Huahong Semiconductor, and Jinghe Integrated [1][2][3] - SMIC announced plans to acquire 49% of the shares of its subsidiary, SMIC North, for 40.6 billion yuan, aiming to fully own the company and consolidate its operations [1][4][5] - Huahong Semiconductor plans to acquire 97.4988% of Huahong Micro for 8.268 billion yuan, enhancing its control over the company and addressing competition within its group [2][6][7] - Jinghe Integrated has initiated a new project with a total investment of 35.5 billion yuan, focusing on expanding its production capacity and technological capabilities in the semiconductor sector [2][8] Group 2 - SMIC North, established in 2013, has become a key production base for SMIC, with a monthly capacity of 70,000 wafers and advanced technology covering 40nm and 28nm processes [4][5] - The financial performance of SMIC North is strong, with projected revenues of 11.575 billion yuan and 12.98 billion yuan for 2023 and 2024, respectively, indicating significant profit contributions to SMIC [5] - Huahong Micro's core asset is a fully automated 12-inch wafer production line with a monthly capacity of 38,000 wafers, which will enhance Huahong Semiconductor's market position post-acquisition [7] - Jinghe Integrated's new project will add a 55,000 wafers/month production line, focusing on 40nm and 28nm processes, catering to various applications including AI and smart devices [8][9] Group 3 - The global wafer foundry market is expected to grow, with projections indicating an 18.3% increase in the semiconductor market size by 2026, reaching $880 billion [10] - The demand for mature process nodes (22-28nm) is anticipated to shift, with China's share in the global market expected to rise significantly by 2030 [10] - Major foundries, including SMIC and Huahong Semiconductor, are operating at high capacity utilization rates, indicating strong demand and potential for revenue growth [11][12] - Recent trends show a price increase in wafer foundry services, with SMIC and other companies raising prices by approximately 10% for certain processes, reflecting the industry's tightening supply and demand dynamics [12]