Group 1 - The Integrated Circuit ETF (159546) opened down 3.02% at 2.084 yuan [1] - Major holdings in the ETF experienced declines, including Cambrian (down 0.79%), SMIC (down 1.28%), and others with significant drops such as Zhaoyi Innovation (down 4.47%) and Tongfu Microelectronics (down 2.88%) [1] - The ETF's performance benchmark is the CSI All-Share Integrated Circuit Index, managed by Guotai Fund Management Company, with a return of 115.09% since its inception on October 11, 2023, and a return of 15.33% over the past month [1]

Group 1 - The China Securities 500 Growth ETF (562340) opened down 1.00% at 1.388 yuan [1] - Major stocks in the ETF include Giant Network up 1.55%, Western Mining down 10.00%, Tianshan Aluminum down 7.27%, and Xiamen Tungsten down 4.99% [1] - The ETF's performance benchmark is the return of the CSI 500 Quality Growth Index multiplied by 100% [1] Group 2 - The fund is managed by Yinhua Fund Management Co., Ltd., with Zhang Yichi as the fund manager [1] - Since its establishment on April 25, 2024, the fund has returned 40.67%, with a return of 9.44% over the past month [1]

Group 1 - The CPO concept stocks in the A-share market experienced a widespread decline, with notable drops in several companies [1] - Yongding Co., Ltd. saw a significant decrease of over 8%, while Fenghuo Communication and Zhongjing Electronics fell by more than 4% [1] - Other companies such as Sry New Materials, Benchuan Intelligent, Changxin Bochuang, Jufei Optoelectronics, and Tongfu Microelectronics also reported declines exceeding 3% [1] Group 2 - Yongding Co., Ltd. reported a decline of 8.63% with a total market value of 35.9 billion [2] - Fenghuo Communication decreased by 4.80%, with a market capitalization of 51.2 billion, and has a year-to-date increase of 17.52% [2] - Zhongjing Electronics fell by 4.63%, with a market value of 6.935 billion, and a year-to-date decline of 7.06% [2] - Sry New Materials decreased by 3.91%, with a market capitalization of 30.5 billion, and a year-to-date increase of 1.55% [2] - Benchuan Intelligent saw a decline of 3.79%, with a market value of 4.263 billion, and a year-to-date decrease of 0.81% [2] - Changxin Bochuang dropped by 3.49%, with a market capitalization of 43.4 billion, and a year-to-date increase of 4.72% [2] - Jufei Optoelectronics declined by 3.37%, with a market value of 9.748 billion, and a year-to-date increase of 0.58% [2] - Tongfu Microelectronics fell by 3.26%, with a market capitalization of 75.6 billion, and a year-to-date increase of 32.07% [2] - Other companies such as Ziguang Co., Huamao Technology, and Kechuan Technology also reported declines, with varying market values and year-to-date performances [2]

南财智讯1月29日电，通富微电在投资者关系活动中表示，公司于2025年2月13日完成对京隆科技26%股 权的交割并支付全部价款；京隆科技在高端集成电路专业测试领域具备差异化竞争优势，本次收购可提 高公司投资收益，为公司带来稳定财务回报，进一步完善公司在封测产业链关键环节的布局。 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The semiconductor packaging industry is experiencing a price increase due to rising costs in testing and packaging services, with major players like Daymoon and Taiwanese firms initiating price hikes of 5%-20% and close to 30% respectively [5] - The demand for semiconductor packaging is driven by the expansion of data centers and the recovery of orders in industrial control, leading to high operational rates for packaging manufacturers [5] - Domestic companies are accelerating the development of 2.5D packaging technology, with significant advancements and production capabilities being established, marking 2026 as a pivotal year for domestic advanced packaging capacity expansion [5] - Key companies to watch include Changdian Technology, Tongfu Microelectronics, and others that are positioned at the forefront of domestic computing power support [5] Summary by Sections Recent Market Performance - The report notes a recent market performance with fluctuations of -13%, 3%, 19%, 35%, 51%, and 67% in various sectors compared to the CSI 300 index [2] Industry Dynamics - The semiconductor packaging sector is facing structural supply-demand mismatches, compounded by rising prices of essential raw materials like gold, silver, and copper [5] - The 2.5D packaging technology is becoming mainstream, with leading global companies holding over 80% market share, while domestic firms are working to close the technology and capacity gaps [5] Investment Recommendations - The report suggests focusing on key enterprises with advanced packaging capabilities and those in the supporting supply chain, including companies like Changchuan Technology and Jinhai Tong [5]

南财智讯1月29日电，通富微电在投资者关系活动中表示，公司2025年度预计归属于上市公司股东的净 利润为110,000万元-135,000万元，预计同比增长62.34%-99.24%；预计扣除非经常性损益后的净利润为 77,000万元-97,000万元，预计同比增长23.98%-56.18%，主要系全球半导体行业结构性增长、公司产能 利用率提升、中高端产品营收明显增加，以及加强经营管理与成本费用管控、产业投资取得较好收益所 致。 ...

证券代码：002156 证券简称：通富微电 公告编号：2026-013 通富微电子股份有限公司 关于2026年度第一期科技创新债券发行结果的公告 2026年1月29日 公司于2026年1月28日发行通富微电子股份有限公司2026年度第一期科技创 新债券（简称：26通富微电SCP001(科创债)），债券募集资金已于2026年1月29 日到账。具体发行结果如下： | 名称 | 通富微电子股份有限 公司2026年度第一期 | 简称 | 26通富微电SCP001(科创债) | | --- | --- | --- | --- | | | 科技创新债券 | | | | 代码 | 012680312.IB | 期限 | 270天 | | 起息日 | 2026年1月29日 | 兑付日 | 2026年10月26日 | | 计划发行总额（万 | 20,000.00 | 实际发行总额 | 20,000.00 | | 元） | | （万元） | | | 发行利率 | 1.77% | 发行价格 | 100.00 | | | | （百元面值） | | | 主承销商 | | 招商银行股份有限公司 | | | 簿记管理人 | | 招商银行股 ...

证券代码：002156 证券简称：通富微电 通富微电子股份有限公司投资者关系活动记录表 编号：2026-003 | 投资者关系活动 ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 中大君悦：陈修能、曲芳；东吴证券：刘玥娇；彤源：麦世学； | | 人员姓名 | 农银汇理基金：张璋；华宝信托：张卿隆；太平养老：张凯；华 | | | 源电子：熊宇翔；弘毅远方：陈祥辉；源乐晟：吴雨哲；博衍基 | | | 金：卢湛 | | 时间 2026 | 年 1 月 29 日 | | 地点 | 公司会议室 | | 上市公司接待人 | 董事会秘书 蒋澍 | | 员姓名 | | | | 一、公司概况 | | | 通富微电是集成电路封装测试服务提供商，为全球客户提供 | | | 从设计仿真到封装测试的一站式服务。公司的产品、技术、服务 | | | 全方位覆盖了人工智能、高性能计算、大数据存储、显示驱动、 | | 5G | 等网络通讯、信息终端 ...

Core Insights - The number of active Agents is projected to surge from 28.6 million in 2025 to 2.216 billion by 2030, with a compound annual growth rate (CAGR) of 139% [1] - The total number of tasks executed annually is expected to explode from 44 billion in 2025 to 415 trillion by 2030, reflecting a CAGR of 524% [1] - The estimated annual Token consumption will increase dramatically from 0.0005 P in 2025 to 152,667 P by 2030, indicating a staggering CAGR of 3,418% [1] Group 1: Agent Development Trends - The trend is shifting from single LLMs to Agents, significantly boosting the demand for parallel processing [1] - Domestic and international models are accelerating Agent development, with notable advancements such as Kimi's new open-source model K2.5 and Anthropic's Claude in Excel plugin [1][2] - Agents enhance single LLMs by incorporating decision orchestration, enabling them to autonomously plan tasks and utilize external tools, thus addressing limitations in context awareness and real-time information retrieval [2] Group 2: Multi-Agent Systems (MAS) - Multi-Agent Systems are emerging as a new form of Agents, exemplified by Kimi K2.5, which can manage 100 sub-agents and execute 1,500 tool calls in parallel, reducing execution time by up to 4.5 times compared to single agents [2] Group 3: CPU as a Critical Support - CPUs are crucial for Agent performance, affecting latency, throughput, and power consumption, with CPU processing accounting for up to 90.6% of total latency [3] - In Agent operations, CPUs handle tasks that GPUs cannot, such as executing external tools and system-level task orchestration, thus becoming essential for efficient resource allocation [3] Group 4: Investment Recommendations - As the demand for Agents grows, CPUs are expected to become a key performance bottleneck, leading to increased demand for core supply chain companies such as Haiguang Information, Longxin Zhongke, Guanghe Technology, Tongfu Microelectronics, and Lanke Technology [4]

Core Insights - The main focus of the news is the significant outflow of capital from various stocks, indicating a potential shift in investor sentiment and market dynamics. Group 1: Stock Performance and Capital Outflow - Industrial Fulian experienced the highest capital outflow of 5.09%, totaling 5.444 billion yuan [1][2] - Sunshine Power saw a capital outflow of 1.558 billion yuan with a decline of 4.92% [1][2] - China Aluminum had a capital outflow of 1.452 billion yuan, but its stock price increased by 3.49% [1][2] - Tongling Nonferrous Metals recorded a capital outflow of 1.204 billion yuan with a notable increase of 10.06% in stock price [1][2] - Semiconductor company SMIC faced a capital outflow of 1.109 billion yuan, with a decrease of 4.2% [1][2] Group 2: Sector Analysis - The consumer electronics sector, represented by Industrial Fulian and Luxshare Precision, showed significant capital outflows of 5.444 billion yuan and 1.068 billion yuan respectively [1][2] - The photovoltaic equipment sector, represented by Sunshine Power, experienced a capital outflow of 1.558 billion yuan [1][2] - The non-ferrous metals sector, including China Aluminum and Tongling Nonferrous Metals, had mixed results with capital outflows of 1.452 billion yuan and 1.204 billion yuan respectively [1][2] - The semiconductor sector, represented by SMIC, faced a capital outflow of 1.109 billion yuan [1][2] Group 3: Additional Stock Movements - Other notable stocks with significant capital outflows include: - Luoyang Molybdenum with 1.080 billion yuan and a slight decrease of 0.04% [1][2] - Hunan Silver with a capital outflow of 1.062 billion yuan and an increase of 4.95% [1][2] - Xiamen Tungsten with a capital outflow of 0.821 billion yuan and a decline of 7.11% [1][3] - The electronics components sector, represented by Huadian Co. and Shenghong Technology, also saw capital outflows of 0.895 billion yuan and 0.740 billion yuan respectively [1][3]