Core Insights - The first batch of seven AI-focused ETFs has been approved, tracking the newly established Zhongzheng Sci-Tech Entrepreneurship AI Index, which will include 50 companies involved in AI-related sectors [1] - The AI-related ETFs primarily track four major indices, each offering differentiated tools for investing in the AI industry chain [1] - The Zhongzheng Sci-Tech Entrepreneurship AI Index combines companies from both the Sci-Tech and Growth Enterprise markets, enhancing exposure to both communication and semiconductor sectors [1] Index Performance - As of November 21, the Zhongzheng Sci-Tech Entrepreneurship AI Index has seen a remarkable increase of 72.04% since the beginning of the year, outperforming other AI indices [3] - The index also recorded the lowest maximum drawdown compared to its peers, indicating strong resilience [3] Market Context - Recent market fluctuations have raised concerns among investors, primarily due to liquidity worries stemming from the Federal Reserve's anticipated interest rate decisions and fears of an AI bubble [5] - Despite these concerns, the Chinese market does not exhibit signs of excessive AI capital expenditure, contrasting with the situation in the U.S. [5] - The upcoming economic work conference in December is expected to provide further policy guidance, which could positively influence market sentiment [5] Investment Opportunities - Penghua Fund has been approved for two new products focusing on the Sci-Tech Entrepreneurship AI and Sci-Tech Chip Design themes, expanding the range of investment tools available for investors in the tech sector [5] - This expansion aims to facilitate efficient investment in high-tech sectors and direct more capital towards companies with core technologies that drive industrial upgrades [5]

Core Insights - The AI computing industry is transitioning into an "application dividend period," driven by the integration of artificial intelligence and high-performance computing, with a projected global market size of $234 billion in 2024 and expected to exceed $2.75 trillion by 2032, reflecting a compound annual growth rate of 36.8% [5][6][10] AI Computing Industry Overview - AI computing (Intelligent Computing) combines AI with high-performance computing, utilizing dedicated hardware and distributed architecture to provide efficient and scalable computing power for AI tasks [2][3] - The industry is characterized by a three-pronged model of "computing power + algorithms + data," which supports complex AI model training and inference, making it a critical infrastructure for the digital economy [2][3] Global and Chinese AI Computing Development - The global AI market is evolving from a "model dividend period" to an "application dividend period," becoming a core engine for the digital economy, with significant advancements in computing power architecture [5][6] - In 2024, the total global computing power is expected to reach 2207 EFLOPS, with intelligent computing power contributing 1610 EFLOPS, marking a year-on-year growth of 63.8% [5][6] - China's total computing power is projected to reach 280 EFLOPS in 2024, with intelligent computing power at 90 EFLOPS, indicating a significant gap between supply and future demand [6][10] AI Computing Industry Chain in China - The AI computing industry chain in China consists of upstream hardware (GPUs, NPUs), midstream service providers (telecom operators, cloud service providers), and downstream application sectors (internet, finance, manufacturing) [8][10] - The market for AI acceleration chips is expected to grow from 17.56 billion yuan in 2020 to 142.54 billion yuan in 2024, with a compound annual growth rate of 68.8% [9][10] Competitive Landscape - Major players in the infrastructure layer include Huawei, which leads in domestic chip production, and Inspur, which dominates the AI server market [10] - Telecom operators and cloud service providers, such as China Telecom, Alibaba Cloud, and Tencent Cloud, are key players in the computing service layer [10] Future Trends in AI Computing Industry - The industry is expected to evolve towards collaborative evolution, with a focus on efficient resource utilization and deep integration with the real economy [11][12] - The emphasis will shift from model performance to creating measurable business value through large-scale applications in key sectors such as manufacturing, finance, and healthcare [13]

Core Viewpoint - The media industry is the only sector to receive net inflows of capital, while the overall market experiences significant outflows, particularly in the technology and materials sectors [1][2]. Capital Flow Summary - The main capital outflow from the Shanghai and Shenzhen markets today amounts to 985.55 billion yuan, with the ChiNext board seeing a net outflow of 377.44 billion yuan and the CSI 300 index experiencing a net outflow of 267.85 billion yuan [1][2]. - Among the 31 primary industries, all experienced declines, with the comprehensive, non-ferrous metals, and power equipment sectors dropping over 5%. Other sectors like basic chemicals, electronics, and communications fell over 4% [2]. - Only the media industry saw a net inflow of 13.26 billion yuan, while the electronic, power equipment, and computer sectors had the largest outflows, each exceeding 100 billion yuan. Other sectors such as non-ferrous metals, pharmaceuticals, machinery, communications, and non-bank financials also faced significant outflows, each exceeding 42 billion yuan [2]. Individual Stock Performance - In individual stock performance, 37 stocks saw net inflows exceeding 1 billion yuan, with 6 stocks receiving over 3 billion yuan. The leading stock in net inflow was the photolithography concept stock, Kaimete Gas, with 7.75 billion yuan [3]. - The photolithography concept stocks rose against the market trend, with stocks like Guofeng New Materials hitting the daily limit, and Kaimete Gas reaching its limit during trading [3]. - AI application concept stock Yidian Tianxia saw a limit increase with a net inflow of 6.54 billion yuan, with significant buying from specific trading desks [4]. Tail-End Capital Flow - At the market close, there was a net outflow of 143.68 billion yuan, with the ChiNext board experiencing a net outflow of 57.56 billion yuan and the CSI 300 index seeing a net outflow of 41.92 billion yuan [8]. - Among individual stocks, 19 stocks had net inflows exceeding 20 million yuan at the close, with the leading stock being Changxin Bochuang, which had a net inflow of 1.13 billion yuan [8]. - A total of 22 stocks had net outflows exceeding 80 million yuan, with 13 stocks seeing outflows exceeding 1 billion yuan [9].

格隆汇11月21日丨中际旭创(300308.SZ)公布，为满足海外业务拓展及生产运营的资金需求，优化公司 资产负债结构，持续推进公司国际化战略，为长远发展奠定坚实基础，公司全资孙公司 为更好支持公司海外市场业务发展、满足海外市场重点客户的需求并全力保障公司海外交付能力，公司 将进一步推进国际化战略和海外布局。本次交易的出资将用于公司控股孙公司TeraHop及其下属子公司 的产能建设、研发投入及日常经营，交易完成后可以优化TeraHop的股权结构和资产负债情况，进而持 续提升其运营能力和竞争力，INFIEVOHOLDINGPTE.LTD.参与本次增资可以进一步调动核心经营团队 拓展海外市场的积极性，有效地将股东利益、公司利益和核心经营团队的利益结合在一起。 VINCRESTHOLDINGSPTE.LTD（简称"VINCREST"，系公司子公司苏州智达泰跃科技有限公司之子公 司）、原股东INFIEVOHoldingPte.Ltd.（简称"INFIEVO"）以及新股东PlatinumOrchidB2018RSCLimited （简称"PlatinumOrchid"，系ADIA（阿布扎比投资局）间接持股的全资下属平台 ...

格隆汇11月21日丨中际旭创(300308.SZ)公布，为进一步建立、健全公司及子公司经营机制和长效激励 约束机制，激发控股孙公司重庆君歌电子科技有限公司（简称"君歌电子"）管理团队和核心技术(业务) 骨干的能动性和创造力，吸引和留住优秀人才，有效地将股东利益、公司利益和核心团队个人利益结合 在一起，促进君歌电子持续、稳健、快速的发展，君歌电子拟通过新设员工持股平台增资的方式对核心 员工进行激励。本激励计划君歌电子拟增加注册资本921.38万元（以最终实际认购的数量为准），占君 歌电子目前注册资本的11.11%。其中：首次授予部分增加注册资本634.00万元，占君歌电子目前注册资 本的7.65%，占本激励计划新增出资总额的68.81%；预留部分增加注册资本287.38万元，占君歌电子目 前注册资本的3.47%，占本激励计划新增出资总额的31.19%。若本激励计划全部出资完成后，君歌电子 的注册资本将由8,292.38万元增加至9,213.76万元，仍为公司合并报表范围内的公司。 ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-109 中际旭创股份有限公司 关于使用部分自有资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 中际旭创股份有限公司（以下简称"公司"或"中际旭创"）于 2025 年 4 月 18 日召开第五届董事会第二十次会议审议并通过了《关于继续使用自有资金进行现金 管理的议案》，为提高公司暂时闲置自有资金的使用效率，增加资金收益，在保证日 常经营资金需求和资金安全的前提下，中际旭创及合并报表范围内子公司、孙公司 或分公司合计拟使用不超过人民币 150,000 万元（或等值外币）的闲置自有资金进行 现金管理，在该额度范围内，资金可循环滚动使用；使用期限自公司董事会审议通 过之日起十二个月内有效，单个投资产品的投资期限不超过十二个月；具体内容详 见公司在中国证监会指定创业板上市公司信息披露网站巨潮资讯网披露的《中际旭 创股份有限公司关于继续使用自有资金进行现金管理的公告》（公告编号：2025-043）。 近期，公司使用部分自有资金进行现金管理，现将有关情况公告如下： | 序 | 受托方 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 一、交易概述 （一）交易基本情况 中际旭创股份有限公司（以下简称"中际旭创"或"公司"）于 2025 年 11 月 21 日召开第五届董事会第二十六次会议，审议通过了《关于控股孙公司增资暨关联交 易的议案》，为满足海外业务拓展及生产运营的资金需求，优化公司资产负债结构， 持续推进公司国际化战略，为长远发展奠定坚实基础，公司全资孙公司 VINCREST HOLDINGS PTE. LTD（以下简称"VINCREST"，系公司子公司苏州智达泰跃科技 有限公司之子公司）、原股东 INFIEVO Holding Pte. Ltd.（以下简称 "INFIEVO"） 以及新股东 Platinum Orchid B 2018 RSC Limited（以下简称"Platinum Orchid"，系 ADIA（阿布扎比投资局）间接持股的全资下属平台）、Daxue Investments Pte. Ltd.（以 下简称"Daxue"，系淡马锡间接持股的全资下属企业）、True Light Investments P Pte. Ltd ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-108 中际旭创股份有限公司 关于召开 2025 年第四次临时股东会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 根据中际旭创股份有限公司（以下简称"公司"或"中际旭创"）第五届董事会第 二十六次会议决议，公司定于 2025 年 12 月 9 日（星期二）下午 14:30 在公司会议室召 开 2025 年第四次临时股东会，本次会议采取现场表决与网络投票相结合的方式召开， 现将召开本次会议的相关事宜通知如下： 一、召开会议的基本情况 1、股东会届次：2025 年第四次临时股东会。 2、股东会的召集人：董事会。 3、会议召开的合法、合规性：本次会议的召集、召开符合《中华人民共和国公司 法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引 第 2 号—创业板上市公司规范运作》等法律、行政法规、部门规章、规范性文件及《公 司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 9 日 14:30。 （2）网络投票时间： 通过深圳证券交易所交易系统 ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-104 中际旭创股份有限公司 第五届董事会第二十六次会议决议公告 为满足海外业务拓展及生产运营的资金需求，优化公司资产负债结构，持续推进 公司国际化战略，为长远发展奠定坚实基础，VINCREST HOLDINGS PTE. LTD、 INFIEVO Holding Pte. Ltd、Platinum Orchid B 2018 RSC Limited、Daxue Investments Pte. Ltd.以及 True Light Investments P Pte. Ltd.合计出资 5.17 亿美元认购控股孙公司 TeraHop Pte. Ltd. 16,089,272 股普通股。本次增资完成后，公司通过苏州智达泰跃科技 有限公司和 VINCREST HOLDINGS PTE. LTD 合计持有 Terahop 股权比例仍为 67.70%。本议案尚需提交股东会审议通过，关联董事刘圣、王晓东、王晓丽及陈彩云 已回避表决。具体内容详见公司在中国证监会指定创业板上市公司信息披露网站巨潮 资讯网上披露的《中际旭创关于控股孙公司增资暨关联交易的公告》（ ...

证券代码：300308 证券简称：中际旭创 公告编号：2025-105 中际旭创股份有限公司 第五届董事会独立董事专门会议第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 中际旭创股份有限公司(以下简称"公司"或"中际旭创")第五届董事会独立董 事专门会议第七次会议（以下简称"本次会议"）于 2025 年 11 月 11 日以电子邮件 方式发出通知，并于 2025 年 11 月 20 日上午 9:00 以通讯方式召开，本次会议由屈文 洲先生主持，会议应到独立董事 4 人，实到独立董事 4 人。本次会议的召开及表决程 序符合《公司法》《公司章程》的有关规定，会议合法有效。会议审议并通过了以下 议案： 表决结果：4 票赞成、0 票反对、0 票弃权。 三、备查文件 1、中际旭创第五届董事会独立董事专门会议第七次会议决议。 特此公告 中际旭创股份有限公司董事会 一、审议通过了《关于控股孙公司增资暨关联交易的议案》 为满足海外业务拓展及生产运营的资金需求，优化公司资产负债结构，持续推进 公司国际化战略，为长远发展奠定坚实基础，公司 VINCREST H ...