Core Viewpoint - The semiconductor equipment sector is experiencing significant growth, driven by domestic substitution and self-sufficiency trends, particularly in light of recent U.S. tariffs on semiconductor imports [1][2]. Group 1: Market Performance - The semiconductor equipment ETF (561980) saw a 2.89% increase, with a trading volume exceeding 200 million yuan, and a net inflow of over 137 million yuan in the last five trading days [1]. - Key stocks such as Shanghai Xinyang and Sanjia Technology hit the daily limit, with Shanghai Xinyang rising over 13%, and other significant gains from companies like Zhongwei and Nanda Optoelectronics [1]. Group 2: Impact of Tariffs - The U.S. announced a 25% import tariff on certain semiconductor products starting January 15, 2026, which is expected to create a stronger "acceleration substitution" window for domestic semiconductor equipment [1]. - The direct impact of these tariffs on domestic semiconductor equipment is considered limited, but they may increase supply chain uncertainties [1]. Group 3: Industry Trends - The rise of domestic storage chip manufacturers is reshaping the global pricing cycle, reducing import dependency, and enhancing supply chain security [2]. - The storage chip segment accounts for approximately 30% of the integrated circuit market, indicating significant growth potential for upstream semiconductor equipment [2]. Group 4: Future Outlook - The global storage industry is entering a new upcycle driven by AI demand for high-performance storage products, with significant growth expected in etching and thin-film deposition equipment due to the shift towards 3D architectures [3]. - Domestic semiconductor equipment companies like North Huachuang and Zhongwei are anticipated to strengthen their market positions as demand increases [3]. Group 5: ETF Composition - The semiconductor equipment ETF focuses on the "selling shovels" segment of the chip industry, with over 90% of its composition in semiconductor equipment, materials, and design [4]. - The index has shown a maximum increase of over 640% since the last semiconductor upcycle, outperforming similar indices [4].

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) announced the issuance of 13,400 ordinary shares and 3,000 shares under its 2014 share-based compensation plan and stock option plan, respectively, on January 14, 2026 [1] Group 1 - SMIC issued 13,400 ordinary shares as a result of restricted share units granted under the 2014 share-based compensation plan adopted on June 13, 2013 [1] - The company also issued 3,000 shares according to the 2014 stock option plan, which was also adopted on June 13, 2013 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中芯國際集成電路製造有限公司 呈交日期： 2026年1月14日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00981 | 說明 | 港股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每股發行/出售價 (註4) ...

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) announced the issuance of 13,400 ordinary shares and 3,000 shares under its 2014 stock incentive plans, effective January 14, 2026 [1] Group 1 - SMIC will issue 13,400 ordinary shares as part of the restricted stock units granted under the 2014 stock incentive plan adopted on June 13, 2013 [1] - An additional 3,000 shares will be issued under the 2014 stock option plan, also adopted on June 13, 2013 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中芯國際集成電路製造有限公司 呈交日期： 2026年1月14日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00981 | 說明 | 港股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每股發行/出售價 (註4) ...

Group 1 - Southbound funds net bought Hong Kong stocks worth 2.865 billion HKD today, with notable purchases including Tencent Holdings (2.009 billion HKD), Alibaba Health (1.458 billion HKD), Alibaba Group (1.134 billion HKD), Kuaishou (0.441 billion HKD), and CNOOC (0.119 billion HKD) [1] - Southbound funds have continuously net bought Tencent for 6 days, totaling 9.00777 billion HKD; Kuaishou for 4 days, totaling 3.53394 billion HKD; Alibaba for 3 days, totaling 2.40886 billion HKD; and have continuously net sold China Mobile for 8 days, totaling 6.19702 billion HKD [1] Group 2 - Alibaba Group saw a price increase of 5.7% with a net buy of 1.1 billion HKD and a transaction volume of 16.592 billion HKD [3] - Tencent Holdings experienced a price increase of 0.9% with a net buy of 1.224 billion HKD and a transaction volume of 40.03 billion HKD [3] - China Mobile had a price decrease of 0.2% with a net sell of 0.913 billion HKD and a transaction volume of 17.62 billion HKD [3]

Group 1 - The Hang Seng Technology Index rose over 1% on January 14, 2026, with notable gains from Alibaba Health (up over 10%), Hua Hong Semiconductor, and Kuaishou (both up over 5%) [1] - Citigroup raised the target for the Hong Kong stock market benchmark index, expecting export growth and government support to improve corporate profit outlook, adjusting the Hang Seng Index year-end target from 28,800 points to 30,000 points [1] - The listings of Zhipu and MiniMax on the Hong Kong Stock Exchange signify a revaluation of AI companies, potentially shifting the industry focus from "parameter competition" to profitability and commercialization efficiency [1] Group 2 - The AI industry is experiencing continuous catalysis, with significant commercial development potential, particularly in generative search (GEO) applications [2] - Southbound capital has been increasing in the Hong Kong stock market, with a net inflow of 41.296 billion HKD since the beginning of 2026, driven by expectations of overseas liquidity easing and improved profit forecasts [2] - The Hong Kong technology sector is expected to recover, influenced by a rebound in risk appetite due to factors like the Federal Reserve's easing pressure [2] Group 3 - As of January 14, 2026, the Hong Kong Stock Connect Technology ETF (159262) rose by 2.31%, with the top ten weighted stocks accounting for 78.45% of the ETF [3] - The latest scale of the Hong Kong Stock Connect Technology ETF reached 10.502 billion HKD, a record high since its inception, with a significant increase in shares over the past week [3] - The ETF closely tracks the Hang Seng Stock Connect Technology Index, focusing on TMT industries and excluding sectors like pharmaceuticals and automobiles, with major weights in leading AI companies [3]

Group 1 - Domestic wafer fabs are experiencing a recovery in capacity utilization and a strong willingness to expand production, driven by AI, which is expected to lead to a super cycle in storage [1] - The semiconductor equipment demand is anticipated to rise due to increased domestic production rates and the push for self-sufficiency in logic chips [1] - The market is witnessing a significant increase in trading volume, indicating a high risk appetite, although short-term volatility is expected due to the further increase in margin financing [1] Group 2 - The AI-driven global storage chip industry is entering a "super cycle," with supply-demand mismatches leading to higher-than-expected price increases [1] - Domestic and international storage expansions are ongoing, with companies like Changxin and Changcun accelerating their IPO processes, which is expected to boost upstream semiconductor equipment investment opportunities [1] - The low domestic production rate of semiconductor equipment and tightening export controls from the US, Japan, and the Netherlands are likely to accelerate the progress of domestic semiconductor equipment production [1]

Group 1 - The core viewpoint of the news highlights a resurgence in the storage and semiconductor equipment sectors, driven by a "super cycle" in storage demand, with several storage companies experiencing significant stock price increases [1] - The semiconductor equipment ETF (561980) saw a 3.26% increase, with a trading volume exceeding 1.4 billion yuan, reflecting a recent peak in fund size [1] - The first annual report forecast indicates a substantial net profit growth of 427.19%-520.22% for 2025, boosting market sentiment in the sector [1] Group 2 - From an industry perspective, storage chips represent one of the largest downstream markets in the semiconductor equipment space, with expected price increases for storage products continuing into 2026 [2] - TrendForce forecasts a 55-60% quarter-on-quarter increase in conventional DRAM prices and over 60% for Server DRAM in Q1 2026, alongside a 33-38% increase in NAND Flash prices [4] - The demand for storage is driven by new platforms like NV's Rubin AI, which is expected to significantly increase memory capacity and NAND demand [3] Group 3 - The domestic storage leader is set to receive IPO approval, aiming to raise 29.5 billion yuan for production line upgrades and next-generation technology, which is expected to enhance domestic equipment demand [5] - The localization rate of semiconductor manufacturing equipment in China is currently low, with projections indicating an increase from 25% in 2024 to 30% by 2026 [5] - The semiconductor equipment ETF (561980) focuses on high-tech segments of the semiconductor industry, with a significant concentration in leading companies across various sub-sectors [6]

Core Viewpoint - The global 8-inch wafer foundry capacity is expected to decrease by 2.4% in 2026 due to TSMC and Samsung Electronics reducing their production capacity, while demand for AI-driven power management chips remains strong, leading to an anticipated increase in capacity utilization rates to 90% this year [2][8]. Group 1: Company-Specific Insights - TSMC plans to gradually exit the 6-inch wafer manufacturing business within two years and continue to reduce 8-inch wafer capacity, with a current monthly capacity of approximately 528,000 wafers [4]. - Samsung Electronics will also reduce its 8-inch wafer production starting in the second half of 2025, aiming to allocate more resources to the 12-inch wafer market, with a similar monthly capacity of 528,000 wafers [4]. - UMC's 8-inch wafer monthly capacity was previously over 360,000 wafers, with a current utilization rate of about 70%, and the company is optimistic about continued growth in 2026 [5]. - SMIC has a monthly capacity of approximately 355,000 8-inch wafers, with a utilization rate of 95.8% as of Q3 2025, and has raised prices by about 10% due to high demand [5]. - Hua Hong Semiconductor's 8-inch wafer foundry utilization rate reached 109.5%, indicating overcapacity, and the company is expanding its production capacity [6]. - Powerchip's 8-inch wafer monthly capacity is around 120,000 wafers, benefiting from the tight supply of memory chips and the recovery of logic process products [6]. - GlobalFoundries is focusing on expanding its 12-inch wafer production, with a projected decline of about 0.3% in global 8-inch wafer foundry capacity in 2025 [7]. Group 2: Market Trends and Projections - The average capacity utilization rate for global 8-inch wafer foundries is expected to rise to 85% to 90% in 2026, significantly better than the 75% to 80% range in 2025 [8]. - Some foundries are notifying customers of price increases ranging from 5% to 20% due to tightening capacity, marking a shift from previous selective price adjustments [8].