香农芯创公告，持股5%以上股东无锡高新区新动能产业发展基金（有限合伙）计划于本公告披露之日 起15个交易日之后的3个月内（即2025年11月11日-2026年2月10日）通过集中竞价方式减持公司股份不 超过4637737股，占公司总股本的1%。 (本文来自第一财经) ...

香农芯创10月20日晚间公告，公司持股5%以上股东无锡高新区新动能产业发展基金（有限合伙）计划 自本公告披露之日起15个交易日后的3个月内（即2025年11月11日至2026年2月10日），通过集中竞价方 式减持公司股份不超过4,637,737股，即不超过公司总股本的1%。减持价格将根据减持时的市场价格确 定，减持原因为资金需要。 ...

南财智讯10月20日电，香农芯创公告，持股5%以上股东无锡高新区新动能产业发展基金（有限合伙） 计划在2025年11月11日至2026年2月10日期间，通过集中竞价方式减持不超过463.7737万股（占公司总 股本的1%），减持原因为资金需要。新动能基金目前持有公司股份2379.3420万股，占公司总股本的 5.13%。本次减持计划不会导致公司控制权变更，也不会对公司治理结构和持续经营产生影响。 ...

每经AI快讯，10月20日，香农芯创（300475）(300475.SZ)公告称，持股5%以上股东无锡高新区新动能 产业发展基金(有限合伙)计划自本减持计划公告之日起15个交易日后的3个月内，以集中竞价方式减持 公司股份数量不超过463.77万股(不超过公司股份总数的1%)。减持原因为资金需要，股份来源为协议转 让方式取得。 ...

香农芯创科技股份有限公司 关于持股 5%以上股东减持计划的预披露公告 持股 5%以上股东无锡高新区新动能产业发展基金（有限合伙）保证向本公 司提供的信息真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 证券代码：300475 证券简称：香农芯创 公告编号：2025-074 特别提示： 持有香农芯创科技股份有限公司（以下简称"公司"）股份 23,793,420 股 （占公司总股本比例为 5.13%）的股东—无锡高新区新动能产业发展基金（有限 合伙）（以下简称"新动能基金"）计划于本公告披露之日起 15 个交易日之后 的 3 个月内（即 2025 年 11 月 11 日-2026 年 2 月 10 日）通过集中竞价方式减持 公司股份不超过 4,637,737 股（占公司总股本的 1%）。 6、减持价格区间：根据减持时市场价格确定。 近日，公司收到持股 5%以上股东—新动能基金出具的《股份减持计划告知 函》，现将具体情况公告如下： 一、股东的基本情况 1、股东姓名：新动能基金 2、持有股份情况：截至本公告披露日，新动能基金持有公司股份 23, ...

Group 1 - The core point of the news is that Shannon Semiconductor experienced a decline of 5.11% in its stock price, reaching 95.41 CNY per share, with a trading volume of 3.747 billion CNY and a turnover rate of 8.56%, resulting in a total market capitalization of 44.249 billion CNY [1] - Shannon Semiconductor was established on September 16, 1998, and went public on June 10, 2015. The company is primarily engaged in the distribution of electronic components, with 97.03% of its revenue coming from this segment [1] - The revenue composition of Shannon Semiconductor includes 1.93% from electronic component manufacturing, 0.93% from reducer business, and 0.11% from other supplementary activities [1] Group 2 - From the perspective of fund holdings, only one fund under Bosera Fund has a significant position in Shannon Semiconductor. The Bosera CSI 1000 Enhanced ETF (561780) held 3,100 shares in the second quarter, accounting for 0.85% of the fund's net value, ranking as the fifth-largest holding [2] - The Bosera CSI 1000 Enhanced ETF (561780) was established on November 2, 2023, with a latest scale of 13.0547 million CNY. Year-to-date, it has achieved a return of 33.78%, ranking 1101 out of 4219 in its category [2] - The fund manager, Yang Zhenjian, has been in charge for 6 years and 324 days, with the total asset scale of 17.222 billion CNY. During his tenure, the best fund return was 63.47%, while the worst was -0.01% [2]

Core Insights - This week (October 13 to 17), 90 stocks reached historical highs, excluding newly listed stocks from the past year [1] - As of October 17, a total of 929 stocks have reached historical highs this year, excluding newly listed stocks from the past year [2] Group 1: Stock Performance - Among the 90 stocks that reached historical highs this week, sectors such as non-ferrous metals and storage chips saw active trading, with leading storage chip stock, Xiangnong Xinchuan, achieving 13 historical highs in the last 30 trading days and a total market value of 46.6 billion [3] - Agricultural Bank's stock price reached a historical high this week, with a weekly increase of 11.57%, attracting market attention [3] - The stocks that reached historical highs this week are concentrated in the non-ferrous metals (19 stocks), machinery equipment (16 stocks), and electronics (13 stocks) sectors [3] Group 2: Trading Volume - The stocks with the highest trading volumes among the 90 that reached historical highs this week include ZTE Corporation (85.04 billion), Northern Rare Earth (81.37 billion), Zijin Mining (58.61 billion), Deep Technology (35.53 billion), and China Rare Earth (27.95 billion) [3] Group 3: Storage Chip Sector - The recent surge in the storage chip sector is attributed to several factors, including a significant increase in AI computing power demand due to the rapid development of generative AI, leading to a sharp rise in demand for high-bandwidth memory (HBM) [5] - Storage chip manufacturers are shifting towards producing high-profit, high-value-added products, resulting in tight supply for traditional storage categories like DDR4 [6] - Tight supply from original manufacturers and reluctance to sell in the spot market have led to increased inquiries and accelerated inventory depletion, causing storage chip prices to rise [7] Group 4: Market Trends - The recent rise in dividend assets is linked to changes in market risk preferences, with dividend assets becoming a market hotspot again and showing good anti-risk properties during market fluctuations [7] - The stocks with the highest weekly gains include Xinlai Fu (49.84%), Matrix Shares (39.20%), Haixia Shares (30.48%), Duori Pharmaceutical (28.84%), and Huajian Group (28.11%) [7] Group 5: High-Value Stocks - As of October 17, there are 9 stocks with prices exceeding 100 yuan, with the highest closing prices being Kaipu Cloud (184.4 yuan), Chunzong Technology (147.81 yuan), and Canxin Shares (131.10 yuan) [8]

Core Insights - This week, 90 stocks reached historical highs, excluding newly listed stocks from the past year, with a total of 929 stocks achieving this milestone since the beginning of the year as of October 17 [1][2] Group 1: Stock Performance - Among the 90 stocks that hit new highs, sectors such as non-ferrous metals and storage chips saw active trading, with leading storage chip stock, Xiangnong Chip, achieving a market capitalization of 46.6 billion yuan [2] - Agricultural Bank's stock price increased by 11.57% this week, drawing market attention [2] - The stocks that reached new highs are concentrated in the non-ferrous metals (19 stocks), machinery equipment (16 stocks), and electronics (13 stocks) sectors [2] - The main board had 49 stocks, the Sci-Tech Innovation Board had 17, the Growth Enterprise Market had 19, and the Beijing Stock Exchange had 5 [2] - The top five stocks by trading volume this week were ZTE Corporation (85.04 billion yuan), Northern Rare Earth (81.37 billion yuan), Zijin Mining (58.61 billion yuan), Deep Technology (35.53 billion yuan), and China Rare Earth (27.95 billion yuan) [2] Group 2: Storage Chip Sector - The storage chip sector has seen significant price increases due to several catalysts, including a surge in AI computing power demand and a shift by manufacturers towards high-margin products [4][5] - Supply tightness from original manufacturers and a rise in market inquiries have led to increased prices for storage chips [6] - Notable stocks in the storage chip sector that frequently reached new highs include Jinma Amusement (17 times), Feiling Keer (16 times), and Zijin Mining (14 times) [6] Group 3: Market Trends - The recent surge in dividend assets has attracted market attention, with a shift in market style globally, leading to a recovery opportunity for high-dividend sectors [6] - The top gainers this week included Xinlaifu (up 49.84%), Matrix Shares (up 39.20%), Haixia Shares (up 30.48%), Duori Pharmaceutical (up 28.84%), and Huajian Group (up 28.11%) [6] Group 4: High-Value Stocks - As of October 17, there are 9 stocks with prices exceeding 100 yuan, with the highest closing prices being Kaipu Cloud (184.4 yuan), Chunz中科技 (147.81 yuan), and Canxin Shares (131.10 yuan) [7]

Core Insights - This week, 90 stocks reached historical highs, excluding newly listed stocks from the past year, with a total of 929 stocks achieving this milestone since the beginning of the year [2][3]. Group 1: Stock Performance - Among the 90 stocks that hit new highs, sectors such as non-ferrous metals and storage chips saw significant trading activity, with leading storage chip stock, Xiangnong Chip, achieving a market cap of 46.6 billion yuan [3][4]. - Agricultural Bank's stock price increased by 11.57% this week, drawing market attention [3]. - The stocks that reached new highs are primarily concentrated in the non-ferrous metals (19 stocks), machinery (16 stocks), and electronics (13 stocks) sectors [3][10]. Group 2: Trading Volume - The stocks with the highest trading volumes this week include ZTE Corporation (85.04 billion yuan), Northern Rare Earth (81.37 billion yuan), Zijin Mining (58.61 billion yuan), Deep Technology (35.53 billion yuan), and China Rare Earth (27.95 billion yuan) [3]. Group 3: Storage Chip Sector - The recent surge in the storage chip sector is attributed to several factors, including a significant increase in AI computing power demand, leading to a sharp rise in high-bandwidth memory (HBM) requirements [5]. - Manufacturers are shifting towards producing high-margin, high-value-added products, resulting in tight supply for traditional memory types like DDR4 [6]. - Supply tightness from original manufacturers and a rise in market inquiries have accelerated inventory depletion, causing storage chip prices to increase [7]. Group 4: Market Trends - The total market capitalization of stocks reaching new highs includes eight stocks with market caps exceeding 100 billion yuan, with Agricultural Bank, Zijin Mining, ZTE Corporation, Northern Rare Earth, and Shandong Gold leading the list [7]. - Recent market trends indicate a shift towards dividend assets, which have shown resilience during market fluctuations, suggesting a recovery opportunity for high-dividend sectors [7]. Group 5: Notable Stock Movements - The top gainers this week include Xinlaifu (up 49.84%), Matrix Shares (up 39.20%), Haixia Shares (up 30.48%), Duori Pharmaceutical (up 28.84%), and Huajian Group (up 28.11%) [7]. - As of October 17, nine stocks have prices exceeding 100 yuan, with the highest being Kaipu Cloud (184.4 yuan) and Chunzong Technology (147.81 yuan) [8].

- The report tracks the market trend by monitoring stocks that have reached new highs, using the 250-day high distance as a key metric[11] - The 250-day high distance is calculated as follows: $ 250 \text{ day high distance} = 1 - \frac{Closet}{ts\_max(Close, 250)} $ where Closet is the latest closing price and ts_max(Close, 250) is the maximum closing price over the past 250 trading days[11] - As of October 17, 2025, the 250-day high distances for major indices are: Shanghai Composite Index 2.39%, Shenzhen Component Index 7.55%, CSI 300 4.15%, CSI 500 7.06%, CSI 1000 6.05%, CSI 2000 6.64%, ChiNext Index 10.01%, and STAR 50 Index 11.43%[12][13][15] Quantitative Models and Construction Methods 1. **Model Name: 250-day High Distance** - **Model Construction Idea:** The model tracks the distance of the latest closing price from the highest closing price in the past 250 trading days to identify stocks that are reaching new highs[11] - **Model Construction Process:** - Calculate the 250-day high distance using the formula: $ 250 \text{ day high distance} = 1 - \frac{Closet}{ts\_max(Close, 250)} $ where Closet is the latest closing price and ts_max(Close, 250) is the maximum closing price over the past 250 trading days[11] - **Model Evaluation:** The model is effective in identifying stocks that are reaching new highs, which can be considered market leaders and potential investment opportunities[11] Model Backtesting Results 1. **250-day High Distance Model** - Shanghai Composite Index: 2.39%[12] - Shenzhen Component Index: 7.55%[12] - CSI 300: 4.15%[12] - CSI 500: 7.06%[12] - CSI 1000: 6.05%[12] - CSI 2000: 6.64%[12] - ChiNext Index: 10.01%[12] - STAR 50 Index: 11.43%[12] Quantitative Factors and Construction Methods 1. **Factor Name: Smooth Momentum** - **Factor Construction Idea:** The factor focuses on stocks with smooth price paths and consistent momentum, as these stocks tend to have higher returns compared to those with jumpy price paths[24] - **Factor Construction Process:** - **Analyst Attention:** At least 5 buy or overweight ratings in the past 3 months[26] - **Relative Strength:** Top 20% in terms of 250-day price change[26] - **Price Stability:** Combine the following two indicators and select the top 50% of stocks: - Price path smoothness: Ratio of price displacement to price path length[26] - Consistency of new highs: Average 250-day high distance over the past 120 days[26] - **Trend Continuation:** Average 250-day high distance over the past 5 days, select the top 50 stocks[26] - **Factor Evaluation:** The factor effectively identifies stocks with strong and stable momentum, which are likely to continue performing well[24] Factor Backtesting Results 1. **Smooth Momentum Factor** - Selected stocks include: Xiangnong Chip, Oriental Tower, Neway Valve, etc.[27] - Sector distribution: Cyclical (14 stocks), Manufacturing (8 stocks)[27] - Industry leaders: Non-ferrous metals in the cyclical sector, machinery in the manufacturing sector[27]