Group 1 - Company "SMIC International Integrated Circuit Manufacturing (Beijing) Co., Ltd." applied for a patent titled "Production Planning Method and Production Planning Device" with publication number CN120258344A, filed on January 2024 [1] - The patent abstract describes a production planning method that includes providing an initial neural network prediction model, obtaining input parameters from existing production data and computational data, training the model until convergence, and generating order demand forecasts for future periods [1] - The method also involves capacity judgment based on training output parameters and acquiring prediction data for future order demands using the neural network model [1] Group 2 - "SMIC International Integrated Circuit Manufacturing (Beijing) Co., Ltd." was established in 2002, located in Beijing, with a registered capital of 100 million USD, and has participated in 52 bidding projects and holds 5000 patent records [2] - "SMIC International Integrated Circuit Manufacturing (Shanghai) Co., Ltd." was founded in 2000, located in Shanghai, with a registered capital of 244 million USD, has invested in 4 companies, participated in 127 bidding projects, and holds 150 trademark records along with 5000 patent records [2]

半导体行业深度跟踪 TMT 及中小盘/电子 进入 25Q2 以来，海外对国内半导体先进制程代工、算力芯片等出口管制仍趋 严，但在此背景下国内先进制程产能和良率持续提升，国内沐曦和摩尔线程招 股书均强调国内先进代工、HBM 和 2.5D 封装等供应链自主可控提速，部分半 导体设备/材料等厂商 25Q2 签单和业绩增长趋势向好。同时，国内半导体其他 环节如存储/模拟/MCU 等细分领域景气度持续回暖，部分 SoC 厂商指引下游需 求依然旺盛。建议关注国内自主可控提速的半导体代工/设备/材料/零部件/算力 芯片等领域、景气周期边际复苏叠加创新加速的存储/SoC/模拟/材料等板块， 同时建议关注各科创指数和半导体指数核心成分股。 2、库存端：手机链相对稳定 PC 链环比仍有提升，功率类库存望达周期峰值。 全球手机链芯片大厂 25Q1 库存环比微降/库存周转天数环比提升，PC 链芯片 厂商 25Q1 库存环比微增/库存周转天数环比下降，英特尔表示整个行业都采 取了更为保守的库存策略，AMD 表示游戏厂商启动库存补货周期。全球模拟 芯片厂商库存 25Q1 环比仍有增长，TI 表示所有终端客户库存处于低位。功 率类芯片公司 ...

Core Viewpoint - The semiconductor industry in China is experiencing a recovery in various segments despite tightening export controls from overseas, with a focus on self-sufficiency and innovation in advanced processes, equipment, and materials [1][18]. Group 1: Industry Overview - Since Q2 2025, export controls on advanced semiconductor processes and computing chips from overseas have intensified, yet domestic production capacity and yield continue to improve [1]. - The semiconductor index in June 2025 increased by 5.96%, lagging behind the Philadelphia semiconductor index and Taiwan semiconductor index, which rose by 16.54% and 8.15% respectively [27]. Group 2: Demand Side - The demand for consumer electronics is recovering, with global smartphone shipments in Q1 2025 increasing by 1.5% year-on-year, and China's shipments rising by 3.3% [3]. - AI applications are driving innovation in various sectors, including automotive and wearable devices, with global AI glasses shipments soaring by 216% year-on-year in Q1 2025 [3]. - The automotive market in China remains strong, with significant orders for new models like Xiaomi's YU7 [3]. Group 3: Inventory Trends - The smartphone supply chain remains stable, while the PC supply chain shows slight improvement in inventory levels [4]. - Global inventory levels for major smartphone chip manufacturers decreased slightly in Q1 2025, while PC chip manufacturers saw a minor increase [4]. Group 4: Supply Side - TSMC is increasing its capital expenditure for advanced process lines in the U.S., with a projected investment of $100 billion [5]. - Major memory manufacturers are focusing their capital expenditures on high-end memory products, with Micron's revenue in FY25Q3 exceeding guidance [6][10]. Group 5: Price Trends - Prices for memory products, particularly DDR4, have seen a significant increase, with an approximate 50% rise since late May 2025 [6]. - The prices of high-capacity NAND products are also on the rise, indicating a recovery in consumer product prices [6]. Group 6: Sales Performance - Global semiconductor sales reached $57 billion in April 2025, marking a 22.7% year-on-year increase and the first month of sequential growth in 2025 [7]. Group 7: Industry Chain Tracking - The semiconductor industry chain is showing signs of marginal improvement, with a focus on companies benefiting from self-sufficiency and recovery in demand [8]. - Domestic companies in the semiconductor design and manufacturing sectors are expanding their product offerings and customer bases, with notable IPOs from companies like Muxi and Moer Thread [9]. Group 8: Investment Recommendations - The focus on self-sufficiency in the semiconductor supply chain is expected to accelerate, with positive trends in orders and revenue for domestic equipment and material manufacturers [16][18].

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 7, 2025, highlighting their respective valuations in billions of dollars [1]. Group 1: Market Capitalization Rankings - The top three companies by market capitalization are: 1. Alibaba: $1,000.00 billion 2. Tencent: $800.00 billion 3. Baidu: $500.00 billion [3] - Other notable companies in the top 10 include: - JD.com: $462.29 billion - SMIC: $449.86 billion - Kuaishou: $344.87 billion [3][4] Group 2: Additional Rankings - Companies ranked from 11 to 20 include: - Tencent Music: $301.42 billion - Li Auto: $277.73 billion - Beike: $212.17 billion [4][5] - The rankings continue with companies such as: - Xpeng Motors: $179.69 billion - iFlytek: $149.88 billion - ZTO Express: $144.36 billion [5]

Core Viewpoint - The Hong Kong stock market opened lower on July 7, but stablecoin concept stocks rose, with the Hong Kong Stock Connect Technology ETF (513860) showing a year-to-date increase of over 27% [1] Group 1: Market Performance - As of 10:20 AM, the Hong Kong Stock Connect Technology ETF (513860) was flat after a pullback, with notable individual stock performances including Health Road up over 17% and Kuaishou-W up over 3% [1] - The Hong Kong Stock Connect Technology Index increased by 30.85% as of July 4, 2025, while the Hang Seng Index rose by 19.22% and the Hang Seng Technology Index by 16.74% [1] Group 2: Fund Flows - According to Wind data, the Hong Kong Stock Connect Technology ETF (513860) saw a net inflow of 240 million yuan over the past five days, 520 million yuan over the past three months, and 657 million yuan year-to-date [1] Group 3: IPO Activity - In the first half of 2025, there were 42 IPOs in Hong Kong, raising over 107 billion HKD, which is approximately 22% more than the total for the previous year, making Hong Kong the global leader in IPO fundraising [1] Group 4: Valuation Metrics - The Hang Seng Index had a TTM price-to-earnings (P/E) ratio of 10.68 as of July 1, 2025, with a historical percentile of 63.98% and a dividend yield of 3.93% [1] - The Hang Seng Technology Index had a TTM P/E ratio of 20.10, with a historical percentile of 8.95%, indicating a relatively low valuation level [1]

Core Viewpoint - The collaboration between Semiconductor Manufacturing International Corporation (SMIC) and Dongfang University of Technology aims to enhance talent cultivation and innovation in the integrated circuit industry, addressing key challenges in China's semiconductor sector [3][5][7]. Group 1: Institutional Development - Dongfang University of Technology has received official approval from the Ministry of Education, marking a significant milestone in its establishment [3]. - The university focuses on six cutting-edge fields: integrated circuits, artificial intelligence, unmanned technology, new materials, new energy, and intelligent manufacturing, aiming to become a source of innovation for critical industry challenges [3]. Group 2: Industry Collaboration - SMIC's chairman Liu Xunfeng expressed high regard for the university's strategic positioning and construction speed, emphasizing the importance of talent and innovation for the future of the integrated circuit industry [5]. - Liu anticipates a "strong alliance" between SMIC and Dongfang University, fostering a dual empowerment model through innovative talent training [5]. Group 3: Future Aspirations - Yu Renrong, CEO of OmniVision Technologies, highlighted the vision of Dongfang University to bridge the gap between fundamental research, technological innovation, and industrial application, aiming to cultivate top-tier talent for critical industries [7]. - The university seeks to become an open platform for collaboration with leading companies like SMIC, exploring efficient and pragmatic paths in joint research and customized talent training [7].

Group 1 - Southbound funds recorded a net purchase of 6.683 billion HKD today [1] - Xpeng Motors-W and SMIC were the top net buyers, with net purchases of 873 million HKD and 768 million HKD respectively [1] - Construction Bank also saw a net purchase of 168 million HKD [1] Group 2 - Alibaba-W had the highest net sell amount, totaling 1.487 billion HKD [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中芯國際集成電路製造有限公司 呈交日期: 2025年7月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00981 | 說明 | 無 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 10,000,000,000 | USD | | 0.004 | USD | | 40,000,000 ...

Group 1 - The core argument is that China's chip industry has made significant advancements despite facing challenges from Western sanctions, leading to a shift in the global chip market dynamics [1][5][9] - The price of 6-inch silicon carbide wafers has dropped from $1500 to $500, forcing American companies to engage in a price war, resulting in a 96% decline in their stock prices over three years [3][11] - China's chip industry has benefitted from long-term government support, with initiatives dating back to 2000, leading to the establishment of companies like SMIC and Huahong Semiconductor [7][11] Group 2 - Since 2019, Chinese chip companies have focused on independent research and development, achieving a monthly production capacity of 750,000 mature chips, surpassing TSMC's capacity of 450,000 [11][15] - The average export price of domestically produced mature chips is about 60% of that of international counterparts, indicating a significant price advantage for Chinese products [17] - While advancements have been made, the Chinese chip industry still faces challenges in advanced process technologies and must continue to strive for self-sufficiency [19]

Core Viewpoint - Semiconductor manufacturing companies, specifically SMIC, are advancing their technology by applying for a new patent related to semiconductor structure formation, which aims to improve product yield and reduce sensitivity to environmental impurities [1][2]. Group 1: Patent Application - SMIC has applied for a patent titled "Method for Forming Semiconductor Structure," with publication number CN120261287A, filed on January 2024 [1]. - The patent describes a process that includes forming a silicon layer on a substrate, followed by a metal layer, and involves multiple heat treatments and acid washes to create a metal silicide layer [1]. - The new method enhances the growth of metal silicide by minimizing the impact of environmental factors, thus improving product yield [1]. Group 2: Company Overview - SMIC Beijing was established in 2002, focusing on the manufacturing of computers, communications, and other electronic devices, with a registered capital of 100 million USD [2]. - SMIC Shanghai was founded in 2000, also specializing in similar manufacturing sectors, with a registered capital of 244 million USD [2]. - Both companies have significant patent portfolios, with each holding around 5,000 patents, and have participated in numerous bidding projects [2].