2026.03. 10 作者 | 一财阿驴 3月12日，A股三大指数集体收跌。沪指跌0.1%，深成指跌0.63%，创业板指跌0.96%。科创综指跌 1.01%。全市场超3800只个股下跌。 | 代码 名称 | 现价 涨跌 | 涨跌幅 | | --- | --- | --- | | 00001 上证指数 | 4129.10 c -4.33 -0.10% | | | 399001 深证成指 | 14374.87 c -90.54 - -0.63% | | | 881001 万得全A | 6814.38 c -36.17 -0.53% | | | 000680 科创综指 | 1756.14 c -17.88 - -1.01% | | | 399006 创业板指 | 3317.52 c -32.01 -0.96% | | 盘面上，风电设备、煤炭、电力板块涨幅居前，军工电子、军工装备、小金属板块走低。 具体来看，煤炭板块走高，郑州煤电、兖矿能源、陕西黑猫、华电能源涨停。 | 代码 | 名称 | 涨幅� | 现价 | | --- | --- | --- | --- | | 600121 | 郑州煤电 | +10.06% ...

（文章来源：每日经济新闻） 消息方面，英伟达发布了一段22分钟的视频，视频中，英伟达CEO黄仁勋与英伟达汽车业务副总裁吴新 宙共同乘坐一辆自动驾驶汽车前往旧金山，这个过程中使用了英伟达全栈自动驾驶软件平台DRIVE AV，未出现人工接管情况。 今日A股科技板块回调明显，人工智能AIETF（515070）盘中下跌超1.3%，持仓股紫光股份大涨超4%， 而权重股中际旭创、新易盛下跌幅度均超4%。 人工智能AIETF（515070）跟踪CS人工智能主题指数（930713），成分股选取为人工智能提供技术、 基础资源以及应用端个股，聚集人工智能产业链上中游，俗称"机器人"大脑"缔造者"，万物互联"地 基"。前十大权重股包括中际旭创、新易盛、寒武纪-U、中科曙光、科大讯飞、豪威集团、海康威视、 澜起科技、金山办公、紫光股份等国内科技龙头。 华泰证券认为，人工智能行业正处于快速发展阶段，技术创新和应用场景不断拓展。随着政策支持力度 的加大以及市场需求的增长，人工智能产业链将迎来新的发展机遇。特别是中上游的基础技术领域如算 法框架等，将成为未来投资的重点方向，人工智能的长期投资价值显著。 ...

证券研究报告 | 行业点评 gszqdatemark 2026 03 12 年 月 日 通信 博通发布 400G DSP，新易盛官宣首发搭载，高度重视开放解耦 计算网络生态 事件：3 月 11 日晚，博通官网发布，其 3nm 400G/通道光 PAM-4 DSP— —Taurus™ BCM83640 上市，该处理器针对 1.6T 收发器解决方案进行了 优化，具备前所未有的带宽密度和效率。该设备配备 400G/通道串行光接 口，使光收发器制造商能够以经济实惠的方式提供低功耗 1.6T 可插拔模 块，以满足 AI 数据中心日益增长的带宽需求。 性能再升级，为更高性能 AI 网络互联奠定基础。采用 Taurus 的 1.6T 可 插拔模块 BCM83640 使每条光通道带宽翻倍，有效实现 1RU 系统中的 102.4T 交换容量，以提升 AI 光互连的带宽密度。此外，采用 400G/通道 光接口为最终部署 3.2T 可插拔光模块奠定基础，该模块解决方案配备 400G/通道电气接口，适用于 204.8T 交换机。 新易盛业内首发搭载博通 448G 全功能 dsp 光模块。正文新闻稿中，新 易盛总经理黄晓雷先生表示，T ...

证券研究报告 | 行业点评 gszqdatemark 2026 03 12 年 月 日 通信 博通发布 400G DSP，新易盛官宣首发搭载，高度重视开放解耦 计算网络生态 事件：3 月 11 日晚，博通官网发布，其 3nm 400G/通道光 PAM-4 DSP— —Taurus™ BCM83640 上市，该处理器针对 1.6T 收发器解决方案进行了 优化，具备前所未有的带宽密度和效率。该设备配备 400G/通道串行光接 口，使光收发器制造商能够以经济实惠的方式提供低功耗 1.6T 可插拔模 块，以满足 AI 数据中心日益增长的带宽需求。 性能再升级，为更高性能 AI 网络互联奠定基础。采用 Taurus 的 1.6T 可 插拔模块 BCM83640 使每条光通道带宽翻倍，有效实现 1RU 系统中的 102.4T 交换容量，以提升 AI 光互连的带宽密度。此外，采用 400G/通道 光接口为最终部署 3.2T 可插拔光模块奠定基础，该模块解决方案配备 400G/通道电气接口，适用于 204.8T 交换机。 新易盛业内首发搭载博通 448G 全功能 dsp 光模块。正文新闻稿中，新 易盛总经理黄晓雷先生表示，T ...

行业研究 市场研究部 2026 年 3 月 10 日 通信行业周报（3 月 2 日- 3 月 8 日） 通信行业市场回顾 2026 年 3 月 2 日至 3 月 6 日，通信（中信）板块上涨了 0.73%，而沪 深300指数下跌了1.07%，通信板块跑赢沪深300指数1.8个百分点。 期间通信业区间涨幅位列中信一级行业第 7 位，在 30 个中信一级行业 中表现中上。2026 年全年通信行业累计上涨 5.84%，在中信一级行业 中排第 14 位，表现居中。截至 3 月 6 日，中信通信行业 PE TTM 为 27.53 倍，处于 38.62%的分位数。 中信通信行业包括上市公司共 119 家，期间 30 家公司收涨，88 家公 司收跌，总体上跌多涨少。涨幅前 3 名分别为华工科技、世嘉科技及 新易盛，跌幅前 3 名则分别为精伦电子、天孚通信及菲菱科思。 周度关注：两会 3 月 5 日上午十四届全国人大四次会议在北京开幕，国务院总理李强 作政府工作报告。总理在报告中首次提出打造智能经济新形态，深化 拓展"人工智能+"，促进新一代智能终端和智能体加快推广，推动重 点行业领域人工智能商业化规模化应用；加快发展卫星互 ...

通信行业市场回顾 2026 年 3 月 2 日至 3 月 6 日，通信（中信）板块上涨了 0.73%，而沪 深300指数下跌了1.07%，通信板块跑赢沪深300指数1.8个百分点。 期间通信业区间涨幅位列中信一级行业第 7 位，在 30 个中信一级行业 中表现中上。2026 年全年通信行业累计上涨 5.84%，在中信一级行业 中排第 14 位，表现居中。截至 3 月 6 日，中信通信行业 PE TTM 为 27.53 倍，处于 38.62%的分位数。 中信通信行业包括上市公司共 119 家，期间 30 家公司收涨，88 家公 司收跌，总体上跌多涨少。涨幅前 3 名分别为华工科技、世嘉科技及 新易盛，跌幅前 3 名则分别为精伦电子、天孚通信及菲菱科思。 周度关注：两会 行业研究 市场研究部 2026 年 3 月 10 日 通信行业周报（3 月 2 日- 3 月 8 日） 2026 年是"十五五"规划的开局之年，"加紧培育壮大新动能"的提 法进一步体现出当前国际环境下科技创新的紧急性和重要性。报告提 出"十五五"期间全社会研发经费投入年均增长 7%以上，数字经济 核心产业增加值占国内生产总值比重从2025年的10 ...

Core Viewpoint - The article highlights the trading activities in the Shanghai and Shenzhen stock markets, focusing on the top traded stocks, sector performances, and significant fund flows, indicating potential investment opportunities and market trends [1][2][5]. Group 1: Trading Volume and Top Stocks - The total trading volume for the Shanghai and Shenzhen Stock Connect reached 316.35 billion, with Zijin Mining and Xinyi Technology leading in trading volume for the Shanghai and Shenzhen markets respectively [1]. - The top traded stocks in the Shanghai Stock Connect included Zijin Mining (24.63 billion), Baiwei Storage (23.70 billion), and Tebian Electric (18.99 billion) [3]. - In the Shenzhen Stock Connect, the leading stocks were Xinyi Technology (43.34 billion), Ningde Times (39.52 billion), and Zhongji Xuchuang (36.06 billion) [4]. Group 2: Sector Performance - The electronic sector saw the highest net inflow of funds, while sectors such as agriculture, oil and gas, and precious metals experienced significant outflows [5][6]. - The top sectors with net inflows included optical electronics (56.63 billion, 9.10%) and electric power equipment (55.59 billion, 3.81%) [6]. - Conversely, the non-ferrous metals sector had the largest net outflow at -84.28 billion (-4.63%) [7]. Group 3: ETF Trading - The A500 ETF Fund (512050) had the highest trading volume at 104.93 billion, with a 3.06% increase from the previous trading day [13]. - The tourism ETF (159766) saw a remarkable 179% increase in trading volume compared to the previous day, indicating strong investor interest [14]. Group 4: Institutional and Retail Activity - Institutional activity was notable, with the brain-computer interface stock, Yanshan Technology, hitting a strong limit up and attracting 1.9 billion from two institutions [16]. - Significant sell-offs were observed in oil and gas stocks, with Tongyuan Petroleum and Intercontinental Oil & Gas facing substantial institutional sell-offs of 1.15 billion and 7.42 billion respectively [17]. - Retail investors showed interest in Yanshan Technology, with a total of 4.86 billion bought by leading retail funds [19].

Group 1 - The core viewpoint of the news highlights a strong rebound in the Asia-Pacific stock market, driven by a comprehensive rebound in US stocks and a significant increase in AI computing power, with the "computing power ETF" gaining over 2% [1][3] - Nvidia is increasing its investment in the computing power ecosystem, committing $2 billion to optical technology companies Lumentum and Coherent, which are key suppliers in the AI data center infrastructure [3][5] - The cloud computing ETF Huatai (159273) saw most of its weighted index stocks rise, with notable gains from companies like Xinyi and Zhongji [3][4] Group 2 - Citic Securities notes that the technology sector is experiencing upward pressure on capital expenditure (Capex) due to concerns over capital return rates and cash flow, leading to a shift in focus towards computing power and advanced processes [5][6] - The demand for computing power is expected to continue exceeding expectations in both overseas and domestic markets, with upstream sectors likely to maintain high profitability and price increases [6][8] - The recent iterations of large models from major companies like Google and Alibaba are driving AI inference demand, leading to a price increase in cloud services, marking a shift from price competition to premium monetization [8][9]

Market Overview - The A-share market experienced a strong rally on March 5, with the Shanghai Composite Index surpassing 4100 points, closing up 0.84% [2][3] - The Shenzhen Component Index rose by 1.67%, the ChiNext Index increased by 2.43%, and the STAR Market Index gained 2.33% [2][3] TMT Sector Performance - The TMT (Technology, Media, and Telecommunications) sector saw significant gains, with the communication sector rising nearly 4% [4] - Notable stocks included Guodun Quantum, Xinyi Sheng, and Meilixin, each with gains exceeding 10% [4][5] - The electronic sector also performed well, with over 20 stocks hitting the daily limit up, including Longteng Optoelectronics and Jucan Optoelectronics, both achieving a 20% increase [6][7] Stock Highlights - Guodun Quantum (688027) rose by 12.21% to 721.10, Xinyi Sheng (300502) increased by 11.75% to 412.77, and Meilixin (301307) gained 11.44% to 37.01 [5] - Longteng Optoelectronics (300708) and Jucan Optoelectronics (300303) both reached the daily limit up of 20.02% [7] Other Sector Movements - Mechanical equipment, power equipment, social services, computers, light industry manufacturing, and media sectors also showed strong performance [8] - Conversely, the oil and petrochemical sector experienced a decline, with a drop of over 2% [8] New Listings - Tongling Technology, a new stock listed on the market, saw its price surge by over 60% during the trading session [10] - The company specializes in automotive interior components and has received multiple accolades, including being recognized as a "National Specialized and Innovative 'Little Giant' Enterprise" [10]

Core Viewpoint - The A-share market has resumed its upward trend, with the hard technology broad-based ETF, "Shuang Chuang Long Tou ETF" (588330), showing significant activity and a price increase of over 3.7% in early trading, recovering the 5-day moving average [1][9]. Group 1: ETF Performance - The "Shuang Chuang Long Tou ETF" (588330) attracted 9.22 million yuan in a single day, indicating strong investor interest [1][9]. - The ETF's underlying index has achieved a cumulative increase of 60.86% year-to-date, outperforming major indices such as the ChiNext 50 (57.45%) and the Sci-Tech Innovation Index (46.30%) [4][12]. Group 2: Key Stocks Performance - Leading the gains, the optical module company Xinyi Sheng surged by 11.46%, with a net inflow of over 4.5 billion yuan, topping the A-share capital inflow rankings [5][13]. - Other notable performers include Jinghe Integrated (up 7.06%), and several companies in the semiconductor and electronic sectors, such as Zhongyuan Xiangchuang and Tuo Jing Technology, which saw increases of over 6% [2][5][13]. Group 3: Industry Insights - The upcoming NVIDIA GTC conference, scheduled for March 16-19, 2026, is expected to showcase significant advancements in AI computing power, including new GPU core parameters and breakthroughs in technology infrastructure [3][10]. - Guojin Securities expresses optimism regarding AI-PCB and core computing hardware, predicting explosive growth in ASIC numbers from major tech companies like Google, Amazon, and Microsoft between 2026 and 2027, driven by strong demand for AI [3][11].