登录新浪财经APP 搜索【信披】查看更多考评等级 中兴通讯股份有限公司（以下简称"公司"）A股股票（证券简称：中兴通讯，证券代码：000063）于 2025年8月20日、8月21日、8月22日连续三个交易日收盘价格涨幅偏离值累计达到20%以上，根据深圳 证券交易所的相关规定，属于股票交易异常波动情形。 证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202555 二、公司关注并核实的情况说明 中兴通讯股份有限公司股票交易异常波动公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 根据相关规定的要求，公司进行了必要核实，现对有关核实情况说明如下： 一、股票交易异常波动的情况介绍 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共媒体报道了可能或已经对公司股票交易价格产生较大影响的未公开重大信息。 3、目前公司生产经营活动一切正常，内外部经营环境未发生重大变化。 2025年8月25日 4、公司、控股股东不存在关于公司的应披露而未披露的重大事项，或处于筹划阶段的重大事项；上述 股票异常波动期间，公司控股股 ...

证券代码（A/H）：000063/00763 证券简称（A/H）：中兴通讯 公告编号：202555 中兴通讯股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 中兴通讯股份有限公司（以下简称"公司"）A股股票（证券简称：中兴通 讯，证券代码：000063）于2025年8月20日、8月21日、8月22日连续三个交易日 收盘价格涨幅偏离值累计达到20%以上，根据深圳证券交易所的相关规定，属于 股票交易异常波动情形。 四、风险提示 业绩预告的情形。公司已在深圳证券交易所预约于2025年8月29日披露《2025年 半年度报告》，公司财务数据请以公司发布的定期报告为准。 《中国 证券报》、 《证券时报》、 《上海证券报》和巨潮资讯网（www.cninfo.com.cn）为公 司指定的信息披露媒体，公司所有信息均以在上述媒体披露的信息为准，请广大 投资者理性投资，注意风险。 二、公司关注并核实的情况说明 根据相关规定的要求，公司进行了必要核实，现对有关核实情况说明如下： 大影响的未公开重大信息。 筹划阶段的重大事项；上述股票异常波 ...

当前通信行业的发展趋势及其对算力基础设施的影响如何？ 重视国产算力发展（中兴通讯等），展望数据中心 Scale- inoutacross20250824 摘要 中兴微电子自研芯片技术成熟，珠峰系列 CPU 已应用于云厂商，并积极 布局 GPU 和交换芯片领域，2022 年营收达 106 亿元，预计今年超 110 亿元，主要用于中兴通讯设备，增强其技术能力。 中兴通讯在运营商服务器市场占据领先地位，市场份额达 21%，远超第 二名，并与多家大型互联网云厂商建立合作，通过自研芯片提升产品竞 争力，商业模式确定性高。 预计 2025 年服务器市场收入约 300 亿人民币，2026 年乐观预期可达 500 亿人民币，芯片技术突破有望带来 30-50 亿人民币利润增长。中兴 通讯中期收入预计今年 710 多亿人民币，利润 90 亿人民币，明年利润 预期超 130 亿人民币。 国产算力市场在政策支持和技术迭代下潜力巨大，英伟达 H20 停产进一 步激发市场情绪。建议关注寒武纪、华丰科技等国产芯片企业，以及锐 捷网络、光迅科技等产业链公司，算力租赁关注润建股份和宏景科技。 Q&A 当前通信行业的发展呈现出显著的全球共振趋势 ...

Summary of Key Points from the Conference Call Industry Overview - The domestic computing power demand is benefiting from the intensifying US-China tech rivalry and the strategy of self-sufficiency, with AI chips becoming a key area of focus. The entire industry chain's self-manufacturing capability has been established, from AI chips to foundry bases, packaging, and PCB boards [1][6][10]. Market Demand and Growth - The total demand for domestic AI chips is projected to reach approximately 500 billion RMB by 2026, with an industry growth rate of at least 30%, potentially leading to the emergence of trillion-yuan market cap leading companies. Currently, the supply of domestic H20 chips is around 500,000 to 600,000 units, with a domestic substitution rate of about 30% [1][8][9]. Technological Advancements - Domestic chips have made significant technological progress, achieving about 90% of the performance of H100 chips. The single-card performance is now sufficient for training, and an ecosystem is beginning to be built [1][10]. The Cambrian 690 is recognized as the strongest domestic AI computing card, capable of reaching 900T computing power under FP16 precision, with no immediate competitors [1][15]. Key Manufacturing Aspects - Attention should be paid to the expansion and yield improvement in the chip foundry segment, as well as the mass supply of advanced packaging technology (Cross L). The PCIe interconnect is another critical area, currently with almost zero domestic production, but some startups are expected to begin mass supply in the second half of this year [1][11][12]. Market Dynamics and Company Insights - The domestic PCIe 4.0/5.0 switch market is dominated by Speed Technology, with a projected market size of approximately 30 billion USD in the next three to five years, maintaining a market share of 60-70% [4][18]. ZTE has undergone significant changes, with expected mobile phone sales and revenue growth, projecting a total profit of nearly 20 billion RMB next year [4][19]. Impact of H20 Chip Events - The H20 chip supply situation has been affected by scrutiny from China on NVIDIA and H20, reflecting the ongoing negotiations in US-China trade talks. China aims to purchase higher-end chips rather than lower-performance H20 chips, indicating a strategic shift in the semiconductor supply chain [5][9]. Future Projections - The supply of domestic H20 chips is expected to double or even triple by next year due to advanced process expansion and yield improvements. The quarterly growth for individual stocks is projected to be three to four times [9][19]. The overall domestic capital expenditure is expected to align with the recovery of chip supply and the increase in high-end chip supply from the US [6][7]. Investment Opportunities - Companies like Cambrian and Speed Technology are highlighted as key investment opportunities due to their strong market positions and growth potential. Cambrian's collaboration with packaging firms and the expected increase in domestic chip production capacity position it favorably in the market [15][17][19].

【 导读 】 两融余额维持高位运行，融资客青睐科技股 从行业情况来看，8月18日至8月21日，申万一级31个行业中，有30个行业融资余额增加， 电子、计算机、通信行业融资净买入金额居前，分别为232.99亿元、116.27亿元、76.18亿 元。仅有煤炭行业融资净卖出，金额为1.99亿元。 国海证券表示，融资连续5周净流入电子板块并推动板块上涨，需要注意资金拥挤度过高。 | | | 田分 | | | --- | --- | --- | --- | | 行业名称 = | 期间买入额(万元) = | 期间偿还额(万元) = | 融资净买入额(万元) = | | 电子 | 21,761,057.89 | 19,431,151.93 | 2,329,905.96 | | 计算机 | 13,405,891.27 | 12,243,213.19 | 1,162,678.08 | | 通信 | 7,321,739.50 | 6,559,910.36 | 761,829.15 | | 机械设备 | 8,563,125.75 | 7,910,564.21 | 652,561.54 | | 电力设备 | 9,093,758.56 ...

Market Overview - The A-share market has shown a significant increase, with the Shanghai Composite Index surpassing 3800 points for the first time in 10 years, reflecting a strong profit-making effect [2][4] - The Every Daily Brand 100 Index rose by 1.69% last week, closing at 1141.13 points, with over 70% of its constituent stocks experiencing gains [1][2] Stock Performance - Among the constituent stocks of the Every Daily Brand 100 Index, 72 stocks increased in value, indicating a broad-based rally [4] - Notable performers included ZTE Corporation, which surged by 32.21%, and several other companies like Sichuan Changhong, Gujing Gongjiu, Anta Sports, Luxshare Precision, and Great Wall Motors, all of which saw weekly gains exceeding 10% [4] Market Liquidity - The overall liquidity environment in the market remains robust, with trading volumes consistently exceeding 2 trillion yuan for eight consecutive trading days [4] - The margin trading balance has also remained above 2 trillion yuan, suggesting continued active trading sentiment [4] Upcoming Earnings Reports - The upcoming mid-year earnings reports at the end of August may introduce volatility into the market, as these reports could impact market trends [4] ZTE Corporation's Strategic Developments - ZTE Corporation has gained significant market attention, with institutional investors net buying 727 million yuan worth of shares in the last three trading days [5] - The company has proposed four strategic changes focusing on AI infrastructure expansion, network intelligence, terminal ecosystem reconstruction, and industry empowerment through AI [5][6] AI and Technological Advancements - ZTE has made substantial progress in various technology sectors, including servers, switches, and self-developed chips, leading to rapid revenue growth in these business segments [6] - The company is implementing a "1+ N+X" strategy for large models, aiming to create a foundational model library and various application scenarios [6] Focus on Intelligent Computing Nodes - At the 2025 World Artificial Intelligence Conference, ZTE's intelligent computing nodes attracted attention, featuring high-density integration and compatibility with various GPU manufacturers [7] - ZTE's all-stack open intelligent computing platform has received high marks in key performance indicators, showcasing its competitive edge in the market [7]

Market Performance - The three major indices experienced an increase during the week of August 18 to August 22, with the Shanghai Composite Index rising by 3.49%, the Shenzhen Component Index by 4.57%, and the ChiNext Index by 5.85% [1][2]. Stock Movements - A total of 11 stocks saw a weekly increase of over 40%, with two stocks increasing by more than 60%. Kosen Technology led with a weekly increase of 61.14%, followed by Garden Shares at 61.09%, and Zhen'an Technology at 53.11% [3][4]. - On the downside, 14 stocks experienced a decline of over 15%, with *ST Gaohong leading the drop at 22.67% [3][4]. Trading Activity - 94 stocks had a turnover rate exceeding 100% during the week, with Guangdong Jianke at the top with a turnover rate of 251.47% [5][6]. - The majority of stocks with high turnover rates belonged to the machinery, electronics, and computer sectors [5]. Capital Flow - The machinery sector faced a net outflow of over 18 billion yuan, while the communication, comprehensive, and media sectors saw net inflows [8]. - ZTE Corporation received the highest net inflow of 7.019 billion yuan, with a weekly increase of 32.21% [9]. Institutional Research - A total of 170 listed companies were researched by institutions, with Desai Xiwai receiving the most attention from 228 institutions [12][14]. - The focus of institutional research was primarily on industrial machinery, electronic components, and electrical equipment sectors [12]. New Institutional Interests - 91 stocks were newly favored by institutions, with eight stocks receiving target prices. For instance, Xinqianglian was rated "Overweight" by Huatai Securities with a target price of 42.00 yuan [15][16][17].

Investment Rating - The report suggests a positive outlook for the AI chip sector, particularly in the context of domestic developments and overseas demand for servers and optical modules [4]. Core Insights - Domestic AI development is driving growth in sectors such as servers and IDC, while overseas AI advancements are boosting demand for servers and optical modules [4]. - The launch of DeepSeek-V3.1 is expected to facilitate the large-scale deployment of domestic AI chips, enhancing the competitive landscape [1][2]. - The liquid cooling market is anticipated to expand significantly, with companies like Invec benefiting from strong demand in AI data centers [1][12]. Summary by Sections Communication Sector - Telecom business revenue reached 905.5 billion yuan in the first half of the year, showing a year-on-year growth of 1% [3][14]. - The number of fixed broadband users reached 684 million, with gigabit users accounting for 33% [20]. Server Sector - The server index increased by 8.30% this week and 17.28% this month, with Industrial Fulian reporting improved efficiency and yield for its GB200 and GB300 models [2][6]. - GB300 is expected to become a significant profit driver for the company's AI server business next year [6]. Optical Module Sector - The optical module index rose by 4.34% this week and 14.59% this month, driven by Google's adoption of OCS technology [2][9]. - Coherent and Lumentum reported their first revenue from OCS orders, indicating market expansion [9]. IDC Sector - The IDC index increased by 6.78% this week and 14.41% this month, with DeepSeek-V3.1's release expected to alleviate the shortage of domestic AI inference cards [2][12]. Liquid Cooling Sector - Invec reported a revenue of 2.573 billion yuan in the first half of 2025, a year-on-year increase of 50.3%, driven by strong demand for liquid cooling solutions [12][52]. - The establishment of the UQD alliance aims to enhance the reliability and interchangeability of liquid cooling connectors, reducing operational complexity [12].

公司董事会确认，公司目前没有任何根据《深圳证券交易所股票上市规则》等有关规定应予以披露而未 披露的事项;董事会也未获悉公司有根据《深圳证券交易所股票上市规则》等有关规定应予以披露而未 披露的、对公司股票及其衍生品种交易价格产生较大影响的信息;公司前期披露的信息不存在需要更 正、补充之处。追加内容 本文作者可以追加内容哦 ! 根据相关规定的要求，公司进行了必要核实，现对有关核实情况说明如下：1、公司前期披露的信息不 存在需要更正、补充之处。2、公司未发现近期公共媒体报道了可能或已经对公司股票交易价格产生较 大影响的未公开重大信息。3、目前公司生产经营活动一切正常，内外部经营环境未发生重大变化。4、 公司、控股股东不存在关于公司的应披露而未披露的重大事项，或处于筹划阶段的重大事项;上述股票 异常波动期间，公司控股股东不存在买卖公司股票的行为。 中兴通讯(00763)发布公告，中兴通讯股份有限公司(以下简称"公司")A股股票(... 中兴通讯(00763)发布公告，中兴通讯股份有限公司(以下简称"公司")A股股票(证券简称：中兴通讯，证 券代码：000063)于2025年8月20日、8月21日、8月22日连续三个交 ...

Core Viewpoint - China Mobile has announced a centralized procurement project for AI general computing devices (inference type) with an estimated scale of approximately 7,058 units, expected to meet demand from 2025 to 2026 [1] Group 1: Procurement Details - The project is divided into six bidding packages, including four "CUDA ecosystem" packages (2,058 units) and two "CANN ecosystem" packages (5,000 units) [1] - The total estimated procurement amount for the project is approximately 5.112 billion yuan, to be shared among nine companies [3] Group 2: Bidding Packages and Winners - Package 1 (CUDA ecosystem PCIe cards) was won by H3C with a bid of 47,563,793 yuan (excluding tax), securing 70% of the package [4] - Package 2 (CUDA ecosystem ordinary performance cards) was also won by H3C with a bid of 213,435,000 yuan (excluding tax), securing 70% of the package [5] - Package 3 (CUDA ecosystem high-performance cards) was won by ZTE with a bid of 1,004,700,000 yuan (excluding tax), securing 70% of the package [5] - Package 4 (CUDA ecosystem high-memory cards) was won by Inspur with a bid of 262,831,932 yuan (excluding tax), securing 100% of the package [6] - Package 5 (CANN ecosystem PCIe cards) was won by Henan Kunlun Technology with a bid of 102,182,076.72 yuan (excluding tax), securing 50% of the package [6] - Package 6 (CANN ecosystem cards) was won by Henan Kunlun Technology with a bid of 2,885,444,717.76 yuan (excluding tax), securing 23.91% of the package [7]