工业富联短线飙升5%，总市值突破8200亿元；中际旭创、新易盛、华工科技、光库科技、胜宏科技均 续创历史新高。 (本文来自第一财经) ...

作者：金股通 本文源自：金融界 截至8月13日开盘一小时，主力资金流入前20的股票分别为：杭钢股份（8.67亿元）、湖南天雁（6.55亿 元）、新易盛（5.60亿元）、沪电股份（4.49亿元）、中兵红箭（4.25亿元）、长城军工（4.09亿元）、 航天科技（4.00亿元）、药明康德（3.88亿元）、中际旭创（3.84亿元）、宁德时代（3.75亿元）、飞龙 股份（3.24亿元）、上海电气（3.08亿元）、豪威集团（2.91亿元）、兄弟科技（2.89亿元）、罗博特科 （2.83亿元）、中银证券（2.43亿元）、天龙集团（2.38亿元）、利欧股份（2.30亿元）、天孚通信 （2.22亿元）、长城电工（2.10亿元）。 ...

Market Overview - The Asia-Pacific stock markets opened higher, with the Shanghai Composite Index and Nikkei Index reaching new highs [1] - The Shanghai Composite Index surpassed 3674.4 points, marking its highest level since December 17, 2021, with a peak of 3677 points around 10:00 AM [1] - The trading volume in the Shanghai and Shenzhen markets exceeded 610 billion yuan within the first half hour, indicating a significant increase compared to the previous day [1] Sector Performance - Military stocks showed strong activity, with several companies, including Changcheng Military Industry and Zhongbing Hongjian, seeing gains of over 5% [1] - Computing hardware stocks continued to perform well, with companies like New Yisheng and Industrial Fulian reaching historical highs, and Guangku Technology hitting a 20% limit up [1] Investment Sentiment - Analysts suggest that the current market uptrend is supported by increased liquidity and a shift in investment logic towards individual stock performance rather than sector performance [2][3] - The sentiment among retail investors and foreign capital inflow is driving the current bull market, with insurance funds providing long-term support [2] Investment Strategy - Analysts recommend focusing on individual stock alpha logic, as the market may transition to a structural market with lower intensity and speed [3] - There is an emphasis on sectors with high growth potential, such as AI, computing power, and innovative pharmaceuticals, which are expected to see valuation recovery [3] - A "barbell strategy" is suggested, balancing investments between technology growth and high dividend stocks while monitoring policy signals and foreign capital movements [5]

转自：新华财经 新华财经上海8月13日电（林郑宏）进入2025年下半年，A股市场上行节奏明显加快。截至8月12日收盘，沪指下半年迄今累计上涨已 达6.43%，而上半年涨幅仅为2.76%；深成指下半年迄今累计上涨8.47%，上半年仅涨0.48%；创业板指下半年迄今累计上涨11.91%， 上半年仅涨0.53%。 市场上行速度加快背后，杠杆资金积极入场功不可没。截至8月12日收盘，沪深京三市融资余额已达2.02万亿元，连续两日站稳2万亿 元关口。从数据对比来看，6月30日全市场融资余额为1.838万亿元，下半年来增长约1820亿元，而上半年是减少160亿元（2024年12 月30日全市场融资余额为1.854万亿元）。 不仅总额增长可观，下半年以来，A股市场融资净买入保持持续稳定。截至8月12日收盘，在下半年迄今的总计31个交易日中，仅有4 个交易日出现了融资净卖出，其余27个交易日均为融资净买入，其中有6个交易日的融资净买入额都在百亿元以上，杠杆资金的积极 入场支撑市场出现持续上涨。 从申万二级行业来看，下半年以来，半导体、通信设备、化学制药、小金属等行业融资净买入金额居前。其中半导体行业融资净买 入金额达139. ...

Group 1 - The World Humanoid Robot Games will be held in Beijing from August 14 to 17, 2025, featuring 280 teams and over 500 humanoid robots from 16 countries [1] - The AI industry chain has shown strong performance, with the AIETF (515070) rising over 2% and trading volume exceeding 120 million yuan, while stocks like New Yisheng (300502) surged over 10% [1] - The demand for computing power is increasing due to the generative AI wave, leading to higher server power consumption and a shift from air cooling to liquid cooling technologies in data centers [1] Group 2 - The AIETF (515070) tracks the CS AI Theme Index (930713), focusing on companies providing technology, resources, and applications in the AI sector, often referred to as the "brain" creators of robots [2] - Key stocks in the AIETF include leading domestic technology companies such as Cambricon, Zhongji Xuchuang, and Inspur Information [2] Group 3 - Related products include AIETF (515070), the创业板人工智能ETF华夏 (159381), and 华夏中证人工智能主题ETF联接A (008585) [3]

华创证券分析认为，整体来看，通信海外算力产业链进展持续提速，在算力基础设施持续投入的背景 下，预计光模块市场有望维持高景气度。创业板人工智能指数助力投资者布局光模块、算力产业链。指 数选取创业板上市的AI主业公司，日内涨跌幅限制为±20%。值得注意的是，指数光模块权重超41%， 前3大成分股囊括中际旭创（15.89%）、新易盛（14.86%）、天孚通信（4.77%）三大光模块龙头。目 前该ETF年管理费率为0.15%，托管费率为0.05%，场内综合费率在可比基金中最低。 （文章来源：每日经济新闻） 8月13日早盘，AI算力板块再度走强，光模块CPO含量超41%的创业板人工智能指数盘中涨超2%，截至 10点15，同类标的中费率最低的创业板人工智能ETF华夏（159381）涨2.62%，持仓股光库科技20cm涨 停，新易盛、中际旭创等权重股冲高。 ...

创业板ETF天弘（159977）紧密跟踪创业板指数（399006.SZ），该指数是深交所多层次资本市场的核 心指数之一，由最具代表性的100家创业板上市企业股票组成，反映创业板市场层次的运行情况。创业 板指数新兴产业、高新技术企业占比高，成长性突出。截至最新，创业板指前十大权重股中包含宁德时 代、东方财富、中际旭创、新易盛、迈瑞医疗、汇川技术、胜宏科技等。创业板ETF天弘（159977）同 时配置场外创业板ETF联接基金（A：001592；C：001593）。 8月13日，三大指数集体高开。截至发稿，沪指盘中越过3674.4点，突破2024年10月8日的高点，为2021 年12月17日以来的新高；创业板指涨超1%。通信、国防、有色金属、电子等板块领涨。 相关ETF方面，创业板ETF天弘（159977）涨1.04%、冲击三连涨。成分股方面，三环集团涨超6%，金 龙鱼、菲利华、润泽科技等多股涨幅居前。值得关注的是，据Wind金融终端，下半年以来（7月1日—8 月12日）创业板ETF天弘（159977）已累计涨近12%。 东方证券表示，市场信心还处在向上趋势中，会逐级上升，未来指数会越走越强，应该坚定全年要看新 高 ...

CPO概念股走强，光库科技20%涨停，新易盛涨超11%，中际旭创、剑桥科技涨超6%。 ...

（文章来源：每日经济新闻） 行情复盘看，本轮AI行情以光模块为代表的上游算力硬件显著领涨，聚焦AI算力的创业板人工智能近 期频繁突破，年内以来累计上涨近35%，明显跑赢中证人工智能、CS人工智、科创AI等同类AI指数。 中信证券表示，2025年下半年AI主线创新继续，带动产业链上下游落地提速，景气创新方向频出，驱 动行业加速成长，建议继续重点布局"AI主线"，看好AI应用及算力板块机遇。兴业证券指出，从滚动收 益差、成交占比、拥挤度等指标来看，AI板块尚未来到过热区间，AI行情有望向更多AI+领域扩散。 13日早盘，光模块等AI硬件强者恒强，光模块含量超41%的创业板人工智能继续上涨创新高。截至发 稿，光库科技狂揽两个20CM涨停，股价创历史新高，新易盛大涨超5%持续新高，中际旭创涨超3%刷 新历史高点，天孚通信涨超4%逼近历史新高。 热门ETF方面，同标的指数规模最大、流动性突出的创业板人工智能ETF（159363）开盘猛涨超2%再创 上市新高，实时成交额快速放量超1.13亿元。 ...

Summary of Eoptolink Conference Call Company Overview - **Company**: Eoptolink (300502.SZ) - **Industry**: Optical Transceivers Key Points and Arguments 1. **Positive Shipment Outlook**: Eoptolink's shipment outlook has improved due to the removal of certain tariff overhangs, including the reciprocal tariffs on Thailand and continued exemptions for optical transceivers [1][2][3] 2. **Tariff Impact**: The reciprocal tariff on Thailand is set at 19%, but optical transceiver products remain exempt. This is similar to the situation in Malaysia, indicating that tariffs will not significantly affect cost competitiveness among peers [3] 3. **Limited Impact from Section 232 Tariffs**: Initial assessments suggest that Section 232 tariffs on semiconductors will have a limited impact on the supply of key components for transceivers, such as laser chips and DSP chips [4][5] 4. **Revised Shipment Forecasts**: Shipment forecasts for 800G and 1.6T transceivers have been increased by 10% and 20% for 2026E, and by 9% and 14% for 2027E, reflecting a more positive outlook [5] 5. **Financial Projections**: Revenue estimates for Eoptolink have been revised upwards by 12% for 2026 and 2027, with net profit projections also increased by 14% [9][10] 6. **Valuation**: Eoptolink is currently trading at an attractive valuation of 15x 2026E P/E compared to its historical average of 21x, with a 12-month target price raised to Rmb222 from Rmb195 [1][14] 7. **Growth Drivers**: The company is expected to benefit from the ramp-up of 400G/800G optical transceivers driven by AI infrastructure deployments in 2025E, with the 800G ramp being a primary earnings driver [13] 8. **Risks**: Key risks include slower-than-expected ramp-up of 800G products, geopolitical issues affecting the supply chain, and increased competition leading to price erosion [16] Additional Important Information - **Financial Performance**: The gross margin is projected to improve to 52.0% in 2026E from 49.5% previously, indicating better profitability [10] - **Market Context**: Eoptolink is positioned as a key player in the optical transceiver market in China, with products covering up to 1.6T [13] - **Analyst Contact Information**: Analysts from Goldman Sachs involved in the report include Jin Guo and Allen Chang [6] This summary encapsulates the essential insights from the conference call regarding Eoptolink's current position, future outlook, and associated risks in the optical transceiver industry.