1月14日上午，存储器与半导体设备"卷土重来"！受益于存储"超级周期"首份年报预增超500%提振，多家存储公司开盘大涨。上游半导体设备由于核心受益 于存储需求高增，目前多股拉升。 高"设备"含量——半导体设备ETF（561980）盘中拉涨3.26%，实时成交额超1.4亿元，近期基金规模刚创新高。目前权重股中微公司涨超4%，海光信息涨超 6%，拓荆科技、长川科技涨超5%，寒武纪、北方华创、中芯国际、南大光电等涨超1%；成份股江丰电子、珂玛科技等持续拉升。 消息面上，美国放宽了H200芯片出口到中国的监管规定，此前已"条件性"允许向中国出售H200人工智能芯片。关于H200的放开，多家机构认为对国产算力 产业链影响非常有限，反而会提振国产替代信心。 此外，存储超级周期下的首份年报预告出炉，预计2025年净利润将大幅同比增长427.19%-520.22%，提振板块情绪。 从产业链来看，存储芯片属于半导体设备空间最大的下游市场之一。2025年-2026年存储价格持续上涨，TrendForce预估2026Q1一般型DRAM合约价还会季 增55-60%，Server DRAM价格季增逾60%，NANDFlash各类产品合 ...

Core Viewpoint - The electronic chemicals sector experienced a significant decline of 4.26% on January 13, with Guoci Materials leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4138.76, down 0.64%, while the Shenzhen Component Index closed at 14169.4, down 1.37% [1] - Guoci Materials saw a closing price of 32.59, reflecting a decrease of 10.12% with a trading volume of 749,100 shares and a transaction value of 2.471 billion yuan [1] - Other notable declines included Weiteou at -8.22%, Tiantong Co. at -6.90%, and Jinhong Gas at -5.49% [1] Group 2: Capital Flow - The electronic chemicals sector experienced a net outflow of 2.307 billion yuan from institutional investors, while retail investors saw a net inflow of 1.469 billion yuan [1] - Weiteou had a net outflow of 9.3729 million yuan from institutional investors, with a retail net inflow of 35.3413 million yuan [2] - Other companies like Lier Technology and Jianghua Micro reported varying levels of net inflows and outflows, indicating mixed investor sentiment [2]

中化新网讯 1月6日，江苏南大光电材料股份有限公司(以下简称南大光电)发布公告称，拟以自有资金 7760万元现金收购控股子公司南大光电(乌兰察布)有限公司(以下简称乌兰察布南大)合计约16.17%股 权。交易完成后，南大光电对乌兰察布南大的持股比例将由74.88%提升至91.05%。 公告显示，本次交易的收购标的为苏州南晟叁号企业管理合伙企业(有限合伙)持有的乌兰察布南大 13.33%股权，以及苏州南晟肆号企业管理合伙企业(有限合伙)持有的2.83%股权。截至2025年11月30 日，乌兰察布南大净资产为47711.50万元，经各方友好协商确定总交易对价为7760万元。 值得注意的是，本次股权收购是南大光电2025年电子特气业务战略布局的延续与深化。2025年10月29 日，该公司宣布将年产7200吨电子级三氟化氮项目未使用的9217.50万元募集资金，全部用于乌兰察布 南大年产2000吨高纯电子级三氟化氮扩产项目。该项目总投资约3.68亿元，聚焦5.5N高纯度产品规格， 可满足人工智能、物联网发展对芯片性能提升的要求，助力公司快速切入高端市场，开辟新的增长曲 线。 ...

Group 1 - The semiconductor industry is benefiting from a global upcycle, with significant growth expected through 2026, particularly in semiconductor equipment and materials [1][2] - The Semiconductor Industry Association (SIA) reported that global semiconductor sales reached $75.3 billion in November 2025, marking a 3.5% increase from October and a 29.8% increase year-over-year [1][10] - China's semiconductor sales amounted to $20.23 billion in November 2025, reflecting a year-over-year growth of 22.9% [1][10] Group 2 - The demand for memory products, particularly DRAM and NAND Flash, is on the rise, with contract prices increasing significantly; DRAM contract prices are expected to rise by 55-60% in Q1 2026 [1][7] - Domestic storage testing and packaging factories are experiencing high order volumes, leading to increased capacity utilization and a price hike of approximately 30% [1][2] - The semiconductor materials market is projected to grow to $70 billion globally by 2025, with a 6% year-over-year increase, while China's key materials market is expected to reach 174.1 billion yuan, growing by 21.1% [2][25] Group 3 - The semiconductor equipment ETF (561980) has seen a net inflow of nearly 200 million yuan over the last three trading days, with a one-year index increase of 97.33% [1][3] - The top ten holdings in the semiconductor equipment index focus on leading companies in the sector, with a concentration of nearly 80% [3][19] - The domestic semiconductor industry is expected to accelerate the expansion of production capacity, particularly in storage wafer manufacturing, driven by strong demand from AI applications [2][24]

Pharmaceutical Sector - Renhe Pharmaceutical has products available for consumers to address symptoms related to rhinovirus infections [1] Battery Sector - Haimuxing has engaged in deep research and development of perovskite tandem batteries with leading photovoltaic cell manufacturers [1] Aquaculture Sector - Muyuan Foods is constructing a super healthy breeding platform for pigs, aiming to cultivate high-quality pigs that are better suited for Chinese farming conditions and market demands [1] PCB Sector - Kexiang Technology has achieved small batch supply of 800G optical module PCBs and server PCBs [1] - Kexiang Technology's PCB products are applicable in the aerospace field and have already commenced supply [1] - Tongguang Cable is a major qualified supplier for organizations such as AVIC and China Aerospace Science and Technology Corporation [1] - Shaanxi Huada is deeply involved in aerospace projects like Xingwang and Qianfan, having supplied products for the second phase of Xingwang [1] - Bichuang Technology has products that can be used for spectroscopic diagnostics of high-temperature plasma in nuclear fusion applications [1]

1月9日，南大光电涨3.53%，成交额82.14亿元。两融数据显示，当日南大光电获融资买入额10.64亿 元，融资偿还8.11亿元，融资净买入2.53亿元。截至1月9日，南大光电融资融券余额合计27.01亿元。 责任编辑：小浪快报 截至12月31日，南大光电股东户数12.05万，较上期减少2.20%；人均流通股5441股，较上期增加 2.25%。2025年1月-9月，南大光电实现营业收入18.84亿元，同比增长6.83%；归母净利润3.01亿元，同 比增长13.24%。 分红方面，南大光电A股上市后累计派现5.07亿元。近三年，累计派现2.93亿元。 机构持仓方面，截止2025年9月30日，南大光电十大流通股东中，易方达创业板ETF（159915）位居第 四大流通股东，持股1250.14万股，相比上期减少210.11万股。南方中证500ETF（510500）位居第五大 流通股东，持股1006.07万股，相比上期减少20.72万股。国泰中证半导体材料设备主题ETF（159516） 位居第六大流通股东，持股727.04万股，为新进股东。国联安半导体ETF（512480）位居第八大流通股 东，持股472.50万股， ...

Investment Rating - The report assigns an "Accumulate" rating for the industrial gas industry [1]. Core Insights - The average price of liquid argon continues to show a year-on-year increase, while rare gases are experiencing low-level fluctuations in weekly prices. Notable events include the opening of Qidong Jinhong and Nanda Optoelectronics' plan to increase its stake in its Ulanqab subsidiary to enhance its electronic specialty gas business [2][4]. Summary by Sections Price Trends - Liquid argon has an average price of 1191 RMB/ton, reflecting a 1.43% decrease week-on-week but a significant 113.84% increase year-on-year. Other gases show varied trends: - Liquid oxygen: 335 RMB/ton, down 3.18% week-on-week, down 8.7% year-on-year - Liquid nitrogen: 363 RMB/ton, down 1% week-on-week, down 5% year-on-year - Rare gases such as high-purity helium and xenon also show declines in price [4][5]. Production Capacity - The average operating load rate for China's industrial gas sector is reported at 66.73%, which is a decrease of 1.88 percentage points week-on-week [6]. Key Events - The opening ceremony of Qidong Jinhong took place on January 10, 2026, aimed at providing high-quality gas products and solutions for key industries in the region. Additionally, Nanda Optoelectronics plans to invest 77.6 million RMB to acquire an additional 16.17% stake in its Ulanqab subsidiary, increasing its ownership to 91.05% [4][5]. Recommended Stocks - The report recommends stocks such as Hangyang Co., Ltd. and Shaangu Power, with related stocks including Zhengfan Technology, Fostar, and Zhongtai Co., Ltd. [4].

Core Viewpoint - The Ministry of Commerce announced an anti-dumping investigation into imported dichlorodihydrosilane from Japan, highlighting its strategic importance in China's high-tech industry chain and aiming to create a fair competitive environment for domestic industries [2]. Industry Significance - The anti-dumping investigation is expected to curb unfair trade practices, facilitating technological research and capacity release for domestic companies, thus accelerating the localization process of dichlorodihydrosilane and ensuring supply chain security for high-end industries like semiconductors and photovoltaics [2]. Overview of Dichlorodihydrosilane - Dichlorodihydrosilane, also known as dichlorosilane, is a colorless gas at room temperature and pressure, characterized by high danger and high reactivity. Its hazardous properties include flammability, toxicity, and poor thermal stability, while its high value comes from its use as a silicon source precursor in semiconductor manufacturing [5][6]. Technical Aspects - The production of dichlorodihydrosilane involves various methods, with a focus on achieving high purity to meet the stringent requirements of advanced semiconductor processes. The main methods include disproportionation, reduction, synthesis, and recovery, with disproportionation and recovery being the most widely used due to their advantages [8][9][10]. Applications - Dichlorodihydrosilane is a key material in high-tech industries, particularly in semiconductor manufacturing, where it is used in chemical vapor deposition (CVD) processes and for producing silicon-based precursors. Its applications extend to photovoltaics and the synthesis of special materials [12]. Market Dynamics - The global market for dichlorodihydrosilane is expanding steadily, driven by growth in the semiconductor industry and technological innovations in electronics. The demand is further boosted by developments in renewable energy technologies such as solar photovoltaics and electric vehicles [14][15]. Competitive Landscape - The high-end electronic-grade dichlorodihydrosilane market has been dominated by a few overseas companies, particularly Shinetsu Chemical from Japan, which holds over 50% of the global market share. However, domestic companies like Tangshan Sanfu are making strides in achieving large-scale production and quality validation for their products [17][18][19].

Core Viewpoint - The article discusses the rapid growth and investment opportunities in the advanced packaging materials sector, highlighting the potential for domestic companies to replace foreign imports in critical areas of technology [7][8]. Group 1: Market Size and Growth Projections - The global market for advanced packaging materials is projected to reach $2.032 billion by 2028, with the Chinese market expected to grow to 9.67 billion yuan by 2025 [8]. - Specific materials such as Al-X photoresist are forecasted to grow from $2.64 billion in 2022 to $5.93 billion in 2028 [8]. - The conductive adhesive market is anticipated to reach $3 billion by 2026, indicating significant growth potential [8]. Group 2: Key Players and Competitive Landscape - Major international players in the advanced packaging materials market include Fujifilm, Toray, and Dow, while domestic companies such as Dinglong Co., Guofeng New Materials, and SanYue Technology are emerging as strong competitors [8]. - The article lists various domestic companies involved in different segments of the advanced packaging materials market, indicating a robust competitive landscape [8]. Group 3: Investment Strategies - Investment strategies vary by stage, with early-stage companies requiring thorough team and industry assessments due to high risks [10]. - As companies mature, the focus shifts to evaluating sales growth and market share, with later stages presenting lower risks and higher potential returns [10]. - The article emphasizes the importance of understanding the industry landscape and the specific needs of companies at different development stages for effective investment [10].

从资金流向上来看，当日电子化学品板块主力资金净流出9.41亿元，游资资金净流入3.26亿元，散户资金 净流入6.15亿元。电子化学品板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300285 | ■瓷材料 | 33.88 | 14.93% | 80.92万 | | 25.82亿 | | 688603 | 天承科技 | 87.51 | 8.63% | 8.03万 | | 6.95亿 | | 688150 | 莱特光电 | 28.53 | 3.67% | 13.38万 | | 3.79亿 | | 300346 | 南大光电 | 58.30 | 3.53% | 143.24万 | | 82.14亿 | | 610889 | 安集科技 | 268.50 | 1.84% | 5.51万 | | 14.47亿 | | 300684 | 中石科技 | 49.75 | 1.70% | 16.86万 | | 8.36亿 | | 688550 | 瑞联新材 | 48.12 ...