Market Overview - On January 19, A-shares experienced a contraction in trading volume with mixed performance across major indices. The Shanghai Composite Index rose by 0.29% to close at 4114.00, while the Shenzhen Component Index increased by 0.09% to 14294.05. In contrast, the ChiNext Index fell by 0.7% to 3337.61, and the Sci-Tech Innovation Board Index decreased by 0.21% to 1851.07 [2][3]. Sector Performance - The electric grid equipment sector saw a significant surge, with over 20 stocks hitting the daily limit up. Notable performers included China West Electric and Jicheng Electronics [4]. - The top gainers in the electric grid equipment sector included: - YN Power: +29.96% to 24.51 - Guanjie Electric: +20.00% to 14.82 - Caneng Power: +17.72% to 28.10 [5]. Trading Volume and Market Activity - The total trading volume in the Shanghai and Shenzhen markets reached 2.71 trillion yuan, a decrease of 317.9 billion yuan compared to the previous trading day. Over 3500 stocks rose across the market [6][7]. Capital Flow - Main capital inflows were observed in the electric grid equipment, tourism, and automotive sectors, while semiconductor, communication, and media sectors experienced net outflows [8]. - Specific stocks with significant net inflows included: - TBEA: 2.408 billion yuan - China West Electric: 1.807 billion yuan - Haiguang Information: 1.091 billion yuan [9]. - Conversely, net outflows were noted in: - Industrial Fulian: 1.578 billion yuan - CATL: 1.464 billion yuan - Xiangshan Chip: 1.337 billion yuan [10]. Institutional Insights - Jin Yuan Securities emphasized the importance of focusing on company performance growth and safety margins during the annual report window [11]. - Guotai Junan expressed optimism about the spring market, highlighting opportunities in sectors supported by performance [12]. - Wanlian Securities anticipated that policies would continue to promote comprehensive reforms in capital market financing, reinforcing the market's stabilization and positive momentum [13].

Group 1 - As of January 16, the margin trading balance in A-shares reached 27,315.37 billion yuan, an increase of 127.86 billion yuan from the previous trading day, accounting for 1.65% of the A-share circulating market value [1] - The trading volume for margin transactions on the same day was 3,364.9 billion yuan, which is an increase of 184.47 billion yuan from the previous trading day, representing 10.99% of the total A-share trading volume [1] - Among the 31 primary industries, 20 experienced net financing inflows, with the electronics sector leading at a net inflow of 10.279 billion yuan [1] Group 2 - The top individual stocks with net financing inflows exceeding 1 billion yuan included China Ping An, which had a net inflow of 1.332 billion yuan, followed by TBEA, Kweichow Moutai, and others [1] - The report from Huawei indicates that by 2035, the total computing power in society is expected to grow by up to 100,000 times, suggesting a significant upward trend in the semiconductor cycle driven by artificial intelligence [2] - The research from Huajin Securities recommends focusing on the entire semiconductor industry chain, from design and manufacturing to packaging testing and upstream equipment materials [2]

Shareholder Reductions - RS Technologies and Cangyuan Investment plan to reduce their holdings by no more than 3% in Youyan Silicon [1] - Yuexiu Capital intends to sell no more than 1% of the total share capital of CITIC Securities [1] - Multiple shareholders of Ruimaite plan to collectively reduce their holdings by no more than 4.98% [1] - The controlling shareholder of Brother Technology plans to reduce its holdings by no more than 2% [1] - Jinggangshan Chengxing intends to reduce its holdings in Guanggang Gas by no more than 0.9997% [1] - The controlling shareholder of Lianchuang Optoelectronics, Electronic Group, plans to reduce its holdings by no more than 2% [1] - Shenzhen Jun Tian, a shareholder of Chengdu Xian Dao, plans to reduce its holdings by no more than 2.51% [1] - Shareholder Fan Jun of Xidi Micro plans to reduce no more than 251,230 shares [1] - Shareholder Cheng Gao Century of Decai Co., Ltd. plans to reduce 4.1973 million shares [1] - Hangzhou Xintou and its concerted action party Hangzhou Haoyue have cumulatively reduced 1.29% of shares in Meinian Health [1] - Guotou Chuangye Fund has cumulatively reduced 1.06% of shares in Fuchuang Precision [1] - New Momentum Fund has cumulatively reduced 0.9926% of shares in Shannon Chip Creation [1] - Deputy General Manager Li Zuqing of Guangli Technology plans to reduce no more than 701,600 shares [1] Other Notable Events - Yuan Zhishuang of Dingxin Communications is under investigation by the Securities Regulatory Commission for suspected short-term trading of company shares [1] - Shimao Energy has terminated its plans for a change in control [1]

格隆汇1月16日丨香农芯创(300475.SZ)公布，公司收到新动能基金出具的《关于股份减持计划提前终止 暨减持结果的告知函》，新动能基金自2025年11月11日至2025年12月3日期间，以集中竞价方式减持公 司股份4,614,500股（占公司当前总股本的0.9926%），经新动能基金综合考虑，其决定提前终止减持计 划，剩余未减持股份在本次减持计划期限内将不再减持。 ...

Group 1 - The company announced a plan for certain directors and executives to reduce their shareholdings, with a total of up to 270,000 shares (0.0581% of total shares) to be sold between December 17, 2025, and January 16, 2026 [1] - As of January 16, 2026, the reduction plan has been completed, with the total shares sold being approximately 199,500 by the General Manager and 29,200 by the Vice General Manager, while the Board Secretary did not sell any shares [1]

关于股东股份减持计划提前终止暨减持结果的公告 证券代码：300475 证券简称：香农芯创 公告编号：2026-004 香农芯创科技股份有限公司 公司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 信息披露内容真实、准确和完整，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。 2025 年 10 月 20 日，香农芯创科技股份有限公司（以下简称"公司"） 在 《证券时报》、《证券日报》、《中国证券报》、《上海证券报》和巨潮资讯网 (www.cninfo.com.cn)披露了《关于持股 5%以上股东减持计划的预披露公告》（公 告编号：2025-074），持有公司股份 23,793,420 股的股东——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(占公司当前总股本的 0.9976%，占 减持预披露时公司总股本的 1%)。 近日，公司收到新 ...

证券代码：300475 证券简称：香农芯创 公告编号：2026-003 香农芯创科技股份有限公司 关于公司部分董事及高管股份减持计划时间届满 暨减持结果的公告 公司董事、总经理李小红先生,董事、副总经理、财务总监苏泽晶先生,董 事会秘书曾柏林先生保证向本公司提供的信息披露内容真实、准确和完整，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。 2025 年 11 月 25 日，香农芯创科技股份有限公司（以下简称"公司"） 在 《证券时报》、《证券日报》、《中国证券报》、《上海证券报》和巨潮资讯网 (www.cninfo.com.cn)披露了《关于公司部分董事及高管减持股份预披露的公告》 （公告编号：2025-093），公司董事、总经理李小红先生，董事、副总经理、财 务总监苏泽晶先生及董事会秘书曾柏林先生计划于公告披露之日起 15 个交易日 之后的 1 个月内（即 2025 年 12 月 17 日-2026 年 1 月 16 日）通过集中竞价方式 减持公司股份合计不超过 270,000 股(占目前公司总股本的 0.0581%)。近日，公 司分别收到李小红先 ...

Group 1 - The storage chip sector continues to strengthen in the afternoon, with significant gains observed in various companies [1] - Baiwei Storage reached a limit-up increase of 20%, while Jiangbolong surged over 15%, hitting a historical high [1] - Other companies such as Demingli, Zhaoyi Innovation, Shenkong Co., Hengshuo Co., Beijing Junzheng, Xiangnong Xinchuan, Purang Co., Kaipu Cloud, and Shikong Technology also experienced upward movement [1]

佰维存储涨超8%续创新高，江波龙、德明利、开普云、香农芯创、北京君正、国科微、时空科技跟 涨。 佰维存储涨超8%续创新高，江波龙、德明利、开普云、香农芯创、北京君正、国科微、时空科技跟 涨。 (本文来自第一财经) (本文来自第一财经) ...

Core Viewpoint - The demand for high bandwidth memory (HBM) driven by artificial intelligence and high-performance computing continues to rise, leading to active performance in the HBM sector on the secondary market. Company Summaries - **Unisoc (紫光国微)**: Latest stock price is 86.69 CNY with a daily increase of +10.00%. The company's HBM products are in the sample system integration verification stage [1] - **Chipone (芯源微)**: Latest stock price is 209.09 CNY with a daily increase of +10.63%. The company has received high recognition from downstream customers in the HBM and 2.5D/3D packaging fields, with multiple products in mass production [2] - **Zhongke Feimeng (中科飞测)**: Latest stock price is 196.98 CNY with a daily increase of +9.20%. The company's graphic wafer defect detection equipment and 3D morphology measurement equipment have passed verification from multiple domestic HBM customers, achieving mass shipments [3] - **Yake Technology (雅克科技)**: Latest stock price is 92.68 CNY with a daily increase of +6.63%. The company's subsidiary UP Chemical is a core supplier of precursors for SK Hynix, supplying materials needed for HBM [4] - **JCET (长电科技)**: Latest stock price is 43.99 CNY with a daily increase of +4.79%. The company has launched the XDFOI high-performance packaging technology platform, which supports advanced packaging requirements for HBM [5] - **Shannon Microelectronics (香农芯创)**: Latest stock price is 170.53 CNY with a daily increase of +4.29%. The company is one of the distributors for SK Hynix and holds agency qualifications for HBM products, positioned in the core supply chain of the industry [6] - **Semei Shanghai (盛美上海)**: Latest stock price is 204.77 CNY with a daily increase of +5.23%. The company’s wet processing equipment and copper plating equipment can be used in HBM manufacturing processes, and related packaging equipment can be used for its 2.5D packaging technology [7] - **Lianrui New Materials (联瑞新材)**: Latest stock price is 64.65 CNY with a daily increase of +6.74%. The company supplies packaging materials for HBM, including ball silicon and Lowα ball aluminum used in GMC (granular epoxy molding compound) [8] - **Feikai Materials (飞凯材料)**: Latest stock price is 26.19 CNY with a daily increase of +6.94%. The company produces and sells epoxy molding compounds (EMC), which are key materials required for HBM storage chip manufacturing [9]