【环球网财经综合报道】据TheKoreaTimes等外媒报道，尽管近期韩国股市跻身全球表现最佳市场行列，以交易活跃 著称的韩国散户投资者仍在大幅加仓中国人工智能及科技板块相关标的。 法国外贸银行亚太区高级经济学家Gary Ng表示，中国AI股票可对冲外部AI板块波动风险；南方东英资产管理公司董 事Lee Je-chung认为，2026年中国股市有望实现强势反弹，下半年表现有望跑赢新兴市场与发达市场。对于追求科技赛 道布局与风险分散的韩国投资者而言，当前中国科技资产估值具备吸引力，配置价值突出。 韩国证券存管局SEIBro数据显示，今年1月2日至2月23日，韩国散户净买入港股规模达5.07亿美元，净买入A股规模为 1.54亿美元。当前累计买入总额已与2025年前两个月持平，彼时受中国AI企业产品发布带动，中国科技股迎来一轮全 球行情。本轮买入集中投向人工智能与半导体赛道。 港股市场中，AI企业MiniMax AI最受青睐，自1月上市以来获韩国散户净买入2100万美元；澜起科技净买入额1900万 美元，位列第二。A股市场方面，北方华创成为首选标的，净买入额350万美元。 有韩国投资者表示，看好中国AI企业发展前景 ...

Group 1 - The semiconductor equipment ETF Huaxia (562590) opened down 1.81%, priced at 2.012 yuan [1] - Major holdings in the ETF experienced declines, including Beifang Huachuang down 1.59%, Zhongwei Company down 1.63%, and Tuo Jing Technology down 1.53% [1] - The ETF's performance benchmark is the CSI Semiconductor Materials and Equipment Theme Index return rate, managed by Huaxia Fund Management Co., Ltd. [1] Group 2 - Since its establishment on October 9, 2023, the ETF has achieved a return of 105.08%, with a one-month return of 4.72% [1]

[Table_Page] 行业专题研究|电子 2026 年 2 月 26 日 证券研究报告 [Table_Title] AI 的 Memory 时刻 8 | | | | HBF | 在读为主应用优势显著 | | --- | --- | --- | --- | --- | | 分析师： [Tabl | 王亮 | 分析师： | 耿正 | 分析师： 焦鼎 | | e_Author] | SAC 执证号：S0260519060001 | SAC 执证号：S0260520090002 | | SAC 执证号：S0260522120003 | | | SFC CE.no: BFS478 | | | | | | 021-38003658 | | 021-38003660 | 021-38003658 | | | gfwangliang@gf.com.cn | | gengzheng@gf.com.cn | jiaoding@gf.com.cn | | 分析师： | 张大伟 | | | | | | SAC 执证号：S0260523050001 | | | | | | 021-38003657 | | | | | | zhan ...

Core Viewpoint - The company is a leading domestic supplier of core components for semiconductor equipment, focusing on the research, production, sales, and technical services of plasma RF power systems, plasma excitation devices, plasma DC power supplies, and various accessories [1] Company Overview - The company has successfully delivered mass-produced products to top domestic semiconductor equipment manufacturers such as Tuojing Technology, Zhongwei Company, Northern Huachuang, Weidao Nano, and Shengmei Shanghai [1] - The company provides in-situ replacement and maintenance technical services for plasma RF power systems to wafer fabs [1] Business Expansion - The company aims to continuously expand its customer base in the semiconductor, photovoltaic, display panel, precision optics, and other high-quality sectors [1] - The company is committed to strengthening its development across various fields and expanding its business scale [1]

Core Viewpoint - The company is a leading domestic supplier of core components for semiconductor equipment, focusing on plasma RF power systems and related technologies, and aims to expand its customer base across various sectors [1] Group 1: Company Overview - The company specializes in the research, production, sales, and technical services of plasma RF power systems, plasma excitation devices, and plasma DC power supplies [1] - It has successfully delivered products to major domestic semiconductor equipment manufacturers such as Tuojing Technology, Zhongwei Company, and Northern Huachuang [1] Group 2: Market Position and Strategy - The company provides core component solutions for plasma processes and offers technical services for in-situ replacement and maintenance of RF power systems for wafer fabs [1] - It plans to actively expand its customer base in the semiconductor, photovoltaic, display panel, precision optics, and other high-quality sectors to enhance its development and business scale [1]

Core Viewpoint - The semiconductor equipment and materials market is expanding into AI chip design, with strong performance from companies like Nvidia and domestic players such as Haiguang Information and Cambrian, indicating a robust growth trajectory in the sector [1][4]. Group 1: Company Performance - Nvidia reported a revenue of $68.1 billion, a 73% year-over-year increase, with strong growth in its data center business and a positive outlook extending to 2027 [4]. - Haiguang Information expects a revenue increase of 62.91% to 75.82% year-over-year for Q1 2026, building on a 57% increase in 2025 [1]. - Cambrian anticipates a net profit increase of 575% for 2025, showcasing the strong demand for domestic AI chips [1][4]. Group 2: Market Trends - The semiconductor equipment ETF (561980) has shown resilience, recovering from a 2% dip to gain over 2% during the day, reflecting investor confidence in the sector [1]. - The semiconductor theme index has outperformed other indices since 2020, with a significant increase of 290.72% compared to other chip-related indices [2][3]. - The supply-demand dynamics in the storage chip market have shifted, with SK Hynix indicating a transition to a seller's market, leading to expected price increases [4]. Group 3: Industry Outlook - The growth in semiconductor equipment, materials, and design is expected to continue until at least 2027, driven by strong demand and capacity expansion in the industry [4]. - The domestic semiconductor industry is benefiting from increased localization, with the localization rate for wafer manufacturing equipment expected to rise from 25% in 2024 to 30% in 2026 [4]. - The increasing demand for AI computing power, coupled with rising storage prices and accelerated domestic substitution, is favorable for the equipment, materials, and design sectors [4].

Group 1 - The semiconductor equipment and chip design sectors are experiencing a strong resurgence, with the semiconductor equipment ETF (561980) rising by 2.17% and trading volume exceeding 200 million yuan, driven by significant gains in stocks like Cambricon and Jingyi Equipment [1] - Nvidia reported a remarkable Q4 FY2026 revenue of $68.1 billion, a 73% year-over-year increase, significantly surpassing market expectations, with data center revenue reaching $62.3 billion, up 75% year-over-year, and projected next quarter revenue of approximately $78 billion [3] - Domestic AI chip leaders are also showing impressive results, with Cambricon's 2025 net profit expected to increase by 575% year-over-year, and Haiguang Information's revenue projected to grow by 56.91% year-over-year, confirming the upward momentum in the domestic chip industry [4] Group 2 - The semiconductor equipment ETF (561980) focuses on upstream and midstream sectors, with over 90% weight in equipment, materials, and design, featuring leading companies such as Zhongwei Company and Beifang Huachuang, and has a current scale of 3.527 billion yuan [5] - The index tracked by the ETF has risen over 290% since 2020, significantly outperforming similar indices in the semiconductor materials and equipment sectors, indicating stronger rebound potential in the upcoming semiconductor upcycle [5]

半导体龙头ETF工银（159665）业绩比较基准为国证半导体芯片指数收益率，管理人为工银瑞信基金管 理有限公司，基金经理为史宝珖，成立（2022-12-22）以来回报为102.61%，近一个月回报为-4.20%。 来源：新浪基金∞工作室 2月26日，半导体龙头ETF工银（159665）开盘涨0.10%，报2.026元。半导体龙头ETF工银（159665）重 仓股方面，中芯国际开盘涨0.00%，海光信息涨2.00%，寒武纪涨1.15%，北方华创涨0.00%，兆易创新 涨1.50%，中微公司跌0.43%，澜起科技涨0.10%，豪威集团涨0.22%，拓荆科技涨0.16%，长电科技跌 0.04%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...

TMTETF（512220）业绩比较基准为中证科技传媒通信150指数，管理人为景顺长城基金管理有限公 司，基金经理为金璜，成立（2014-07-18）以来回报为211.16%，近一个月回报为-0.66%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月26日，截止午间收盘，TMTETF（512220）涨1.60%，报3.113元，成交额1469.62万元。TMTETF （512220）重仓股方面，中际旭创截止午盘涨0.34%，新易盛涨0.58%，立讯精密跌0.19%，寒武纪涨 1.22%，工业富联涨1.24%，中芯国际跌0.68%，海光信息涨0.15%，北方华创跌1.08%，胜宏科技涨 9.23%，兆易创新跌0.61%。 来源：新浪基金∞工作室 ...

Group 1 - The core viewpoint of the article highlights the performance of the Quality ETF Zhongjin (515910), which rose by 1.35% to 0.678 yuan with a trading volume of 1.0338 million yuan as of the midday close [1] - The top holdings of the Quality ETF Zhongjin include companies such as Zhongji Xuchuang, which increased by 2.17%, Zijin Mining up by 2.19%, and Xinyi Technology rising by 3.38% [1] - The fund's performance benchmark is the MSCI China A-Shares International Quality Index, managed by Zhongjin Fund Management Co., Ltd., with a return of -33.12% since its inception on January 21, 2021, and a return of 1.24% over the past month [1]