两位企业家介绍了公司研发经营及在汉项目建设情况，表示武汉半导体产业实力雄厚、创新生态优越，为企业发展创造了广阔空间、 提供了崭新机遇，对在汉投资布局充满信心。下一步将持续深化与武汉合作，争取项目早日落地建成投产，加大科技研发和市场开拓力 度，为武汉半导体产业创新发展注入新动力、增添新活力。 市领导沈悦、张斐参加会见。 编辑：胡之澜 1月22日，省委常委、市委书记盛阅春会见英诺赛科董事长骆薇薇及其合作伙伴、北方华创科技集团股份有限公司董事长赵晋荣。 盛阅春对骆薇薇、赵晋荣一行表示欢迎，并介绍了武汉"十四五"经济社会发展成效和"十五五"目标任务。他说，近年来，武汉牢记习 近平总书记殷殷嘱托，认真落实省委、省政府部署要求，加快建设具有全国影响力的科技创新中心，着力构建体现武汉优势的现代化产业 体系，以光谷为主要承载区的半导体产业加速发展，产业竞争力和显示度不断增强。英诺赛科是全球氮化镓功率半导体领域的领军者，北 方华创是知名的半导体装备制造商，与武汉合作基础良好。希望英诺赛科、北方华创持续看好武汉、投资武汉，加大在汉布局，加快推动 项目建设落地，吸引带动更多产业链上下游企业来汉发展，联合武汉高校院所开展创新研发，助 ...

Summary of the Conference Call on Global Semiconductor Capital Equipment Industry Overview - The focus is on the **Wafer Fabrication Equipment (WFE)** market, particularly imports to **China**. - In **2025**, total WFE imports to China reached **$39.2 billion**, representing a **3% year-over-year (YoY)** increase, despite a **13% YoY** decline in December imports due to a high base effect from December 2024 [2][26][37]. Key Insights - **December 2025** saw WFE imports of **$4.5 billion**, marking the highest monthly figure for the year, with a **MoM increase of 84%** [2][3][26]. - **Lithography imports** hit a record high in December at **$2.3 billion**, primarily driven by demand from **Shanghai** and **Beijing** [3][27][35]. - The overall demand for WFE in China remains robust, particularly for **AI chip and memory production**, indicating a continued push for local production capabilities [3][68]. Company-Specific Insights ASML - ASML's China sales are projected to reach **EUR 3.14 billion** in Q4 2025, reflecting a **35% QoQ** and **64% YoY** increase, driven by high lithography imports [4][68][70]. - China is expected to account for **42%** of ASML's total system sales in Q4 2025, significantly higher than previous guidance [68][79]. Lam Research (LRCX) - December revenues for LRCX are expected to decline by **42% QoQ**, with China exposure estimated at **25%** of total revenues [6][90]. - The company anticipates that its China revenue exposure will fall below **30%** in 2026 [6][90]. Applied Materials (AMAT) - AMAT's January quarter revenues are projected to increase by **4% QoQ**, with China exposure remaining around **30%** [7][87]. Other Companies - **Tokyo Electron (TEL)** and **Kokusai** are also expected to see growth, with TEL benefiting from competitive pricing and Kokusai from increased adoption of batch ALD technology [17][20]. - **Screen** and **Advantest** are projected to experience declines in China revenue, with Screen's expected to drop **43% YoY** [11][12]. Import Trends - The **US, Singapore, and Malaysia** combined accounted for **35%** of WFE imports to China in 2025, while Japan's share decreased to **23%** [43][50]. - The share of lithography imports from the Netherlands has increased significantly since 2023, indicating a shift in sourcing strategies among global vendors [43][65]. Investment Implications - **NAURA**, **AMEC**, and **Piotech** are highlighted as outperformers in the domestic WFE market, benefiting from local demand and technological advancements [14][15][16]. - **ASML**, **LRCX**, and **AMAT** are also rated as outperformers, with strong growth prospects driven by ongoing demand in the semiconductor sector [19][20][21]. Conclusion - The WFE market in China is showing signs of resilience and growth, particularly in lithography, despite some expected declines in revenue for certain companies. The ongoing investments in local production capabilities for advanced technologies like AI chips and memory are likely to sustain demand in the coming years.

Group 1 - A-shares showed resilience despite a significant drop in overseas markets, with major indices rising, particularly in the gold and semiconductor sectors [1][5] - The semiconductor foundry sector is strong, with companies like SMIC and Hua Hong Semiconductor seeing gains of over 4% [6] - A report from TrendForce indicates a 2.4% reduction in global 8-inch foundry capacity by 2026 due to strategic cuts by TSMC and Samsung, while demand for AI-driven power management chips remains robust, pushing average capacity utilization rates above 90% [6][7] - Chinese foundries are positioned to benefit from the demand for 8-inch chips, with significant growth in storage chip production driven by AI [7][8] Group 2 - The gold sector is also performing well, with gold prices reaching $4,880 per ounce, and the gold ETF E Fund (159934) seeing a net inflow of 15.067 billion yuan over the past year [9][11][12] - The semiconductor market is experiencing a price surge, with reports indicating a potential 40-50% increase in storage chip prices by Q1 2026, driven by a combination of consumer electronics recovery and AI demand [15][19] - TSMC's capital expenditure guidance for 2026 has been significantly raised to between $52 billion and $56 billion, indicating strong demand for high-end chips [18][19] Group 3 - SMIC reported a record monthly production capacity of 1.023 million 8-inch equivalent wafers, with utilization rates reaching 95.8% [26] - The domestic semiconductor equipment market is expected to exceed 50 billion yuan in 2026, with a compound annual growth rate of around 30% [30] - The semiconductor equipment ETF E Fund (159558) is closely tied to the semiconductor materials and equipment sectors, covering key players in the industry [32]

2025年7月至2026年1月，国内半导体集成电路行业迎来融资热潮，资本布局呈现频次密集、赛道聚焦、区域集群化的鲜明特征。在国产替代攻坚与全球算 力需求爆发的双重驱动下，行业正步入资本与技术深度绑定、产业链协同升级的关键阶段。本次分析基于公开报道及笃威尔自有数据综合整理，涵盖股权 融资、战略投资、收购等各类资本事件，分析半导体集成电路的产业发展。 一、全国融资全景 规模攀升，结构分化显著 本期全国半导体集成电路领域资本活跃度持续攀升，全周期共发生融资事件681起，覆盖610家企业，吸引1130家投资机构参与布局，其中交易金额超10亿 元的大额融资事件达82起，充分彰显资本对半导体赛道的高度关注与重度投入，整体呈现规模与质量双升态势。 从融资结构来看，额度与轮次分布呈现鲜明特征，额度层面，"小额密集、大额集中"的格局显著，500万以下小额融资事件达578起，占比超84.9%，为行 业创新储备提供源头活水；而82起10亿级以上大额融资则高度集中于资本密集型领域，头部企业虹吸效应明显，长鑫科技、摩尔线程等龙头企业单次募资 规模均超数十亿元，凭借技术壁垒与量产能力占据资本高地。 轮次分布上，战略融资以307起占据绝对 ...

今日（1.21），芯片板块高歌猛进，全市场费率最低档的芯片50ETF（516920）放量大涨超4%，盘中成交额8000万元！资金面上，芯片50ETF （516920）已连续2天获资金青睐，累计"吸金"超3800万元！ 消息面上，根据KeyBanc的数据，Intel与AMD为应对供需失衡并确保后续供应稳定，计划将服务器CPU价格上调10%-15%。同时，2026年Intel与 AMD的服务器CPU产能已基本预售完毕。 此外，全球存储需求结构性增长。近期，花旗集团显著上调存储巨头目标价，资产管理公司ClearBridge Investments也指出，由人工智能发展所 驱动的存储芯片需求，目前被市场显著低估。美光科技高管亦强调，内存芯片短缺在过去一个季度持续加剧，核心原因在于人工智能基础设施 建设对高端半导体的需求呈现爆发式增长。 芯片50ETF（516920）标的指数成分股多数飘红：海光信息涨超16%，澜起科技涨超11%，兆易创新涨超6%，中芯国际涨超4%，寒武纪-U涨超 2%。值得关注的是，芯片50ETF（516920）标的指数成分股中，不仅包含科创板芯片龙头，也囊括了北方华创、兆易创新、豪威集团、长电科 技 ...

Core Viewpoint - The A-share market has reached a historic milestone with the number of stocks closing above 100 yuan reaching 222, marking a new high in history, predominantly driven by technology companies, except for Kweichow Moutai [1][6]. Group 1: Distribution of Hundred Yuan Stocks - The electronic industry leads with 79 stocks, accounting for 35.59% of the total hundred yuan stocks. The machinery equipment industry has 26 stocks (11.71%), and the computer industry has 24 stocks (10.81%) [6]. Group 2: Top Ten Hundred Yuan Stocks - The top three stocks are: 1. Cambricon (寒武纪-U) with a closing price of 1419.66 yuan and a 2025 increase of 106.01% [3]. 2. Kweichow Moutai (贵州茅台) at 1376.00 yuan with a decrease of 6.29% [3]. 3. Source Code Technology (源杰科技) at 748.29 yuan with a remarkable increase of 379.34% [4]. Group 3: Market Trends and Future Outlook - The overall rise in the A-share market has led to a significant increase in the average stock price level, with the number of hundred yuan stocks surpassing 200 as of January 19, 2026 [6]. - Experts predict that the hundred yuan stock group will continue to expand due to ongoing trends in the technology industry and sustained inflow of long-term capital, although structural differentiation is expected to become more pronounced [6].

Group 1 - The core viewpoint of the articles highlights the performance and financial metrics of North China Huachuang, indicating a recent stock price decline despite a year-to-date increase of 11.83% [1] - As of December 19, 2025, North China Huachuang reported a revenue of 27.30 billion yuan, reflecting a year-on-year growth of 34.14%, and a net profit of 5.13 billion yuan, with a growth of 14.97% [2] - The company specializes in the research, production, sales, and technical services of semiconductor basic products, with its main business revenue composition being 94.53% from electronic process equipment [1] Group 2 - The stock's trading activity shows a net outflow of 150 million yuan from main funds, with significant buying and selling from large orders [1] - As of the end of September 2025, the number of shareholders decreased to 63,200, while the average circulating shares per person increased by 1.46% [2] - The company has distributed a total of 1.54 billion yuan in dividends since its A-share listing, with 1.22 billion yuan distributed over the past three years [2]

Group 1 - The semiconductor equipment ETF (159327) has seen a 0.22% increase, with a trading volume exceeding 17 million, indicating active market participation [1] - The top ten weighted stocks within the ETF show mixed performance, with notable movements including a 1.21% drop in Zhongwei Company and a 2.22% decline in Chip Source Micro [1] - The ETF has experienced net inflows for ten consecutive days, accumulating over 390 million, and its latest fund size has reached 1.125 billion, surpassing the 1 billion threshold [1] Group 2 - China's GDP has reached a new milestone of 140 trillion yuan, with a year-on-year growth of 5% [4] - By 2025, the added value of the digital product manufacturing industry is expected to grow by 9.3%, while the information transmission, software, and IT services sector is projected to grow by 11.1% [4] - The rapid development of "AI+" has led to significant production increases in storage chips and servers, with growth rates of 22.8% and 12.6% respectively [4] Group 3 - The demand for memory bandwidth and capacity driven by AI training and inference is propelling the storage industry into a new growth cycle, with both volume and price increasing [5] - The semiconductor equipment ETF focuses on critical segments such as lithography, etching, thin film deposition, cleaning equipment, and silicon wafers, covering leading companies like North Huachuang and Zhongwei Company [5] - The capital expenditure cycle in the equipment sector is expected to continue until 2030, providing long-term investment value amid the expansion of AI servers, smart terminals, and storage chips [5] Group 4 - Investors can also access the semiconductor industry through linked funds (Class A 023828, Class C 023829) to benefit from the rising industry prosperity and the dividends of domestic chip production [6]

Group 1 - The A-share market showed mixed performance on January 20, with the Shanghai Composite Index rising by 0.09%, driven by gains in real estate, building materials, and construction decoration sectors, while the comprehensive and communication sectors experienced declines [1] - The chip technology stocks performed strongly, with the chip ETF (159995.SZ) increasing by 1.16% as of 9:45 AM, and notable individual stock performances included Beijing Junzheng up by 6.08%, Longxin Zhongke up by 5.85%, and Lanke Technology up by 4.03% [1] Group 2 - The demand for AI chips and storage chips remains high, leading overseas storage manufacturers to allocate resources towards advanced packaging (such as HBM), which may tighten the testing capacity for standard storage chips [3] - Rising prices of raw materials such as gold, silver, and copper have significantly increased packaging costs, potentially leading to price hikes across the testing industry [3] - According to Open Source Securities, in a high-demand environment, testing companies may pass on cost pressures through price adjustments and improve profitability, while also optimizing product structures to focus on higher-margin businesses [3] - The chip ETF (159995) tracks the National Chip Index, comprising 30 leading companies in the A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing, including SMIC, Cambricon, Changdian Technology, and Northern Huachuang [3]

Group 1: Space and Aerospace Industry - Shenzhou 20 spacecraft successfully landed, confirming the mission's success, while Shenzhou 23 has arrived at the launch center [1] - Beijing's Fengtai District aims to exceed a trillion yuan in industrial scale by 2030, focusing on aerospace and other key sectors [2] - York Space Systems plans to raise $512 million through an IPO, pricing shares between $30 and $34, with a listing on the NYSE under the ticker "YSS" [3] - Guojin Securities recommends attention to companies involved in 3D printing for commercial aerospace, highlighting its potential as a final processing solution [4] Group 2: Economic and Industrial Growth - By 2025, China's annual production and sales of new energy vehicles are expected to surpass 16 million units, reflecting growth in the clean energy sector [6] - China's GDP is projected to exceed 140 trillion yuan in 2025, with a growth rate of 5.0%, driven by various industrial sectors [7] - The high-tech manufacturing sector is anticipated to grow by 9.4% in 2025, with significant contributions from industries like integrated circuits and aircraft manufacturing [8] Group 3: Financial Market Developments - The number of private equity firms with over 10 billion yuan in assets has reached 114, with new entrants and some exits in the sector [5] - The A-share market has seen a record high of 222 stocks priced over 100 yuan, indicating a concentration of technology companies among the top performers [9] Group 4: Green Energy Initiatives - Five government departments have issued guidelines to accelerate the transition to a green and low-carbon energy structure, promoting zero-carbon factories and renewable energy utilization [9]