Silan(SH:600460) Sou Hu Cai Jing·2025-08-07 03:14Core Viewpoint - The A-share market experienced a collective decline on August 7, with the Shanghai Composite Index down by 0.22%, while sectors such as beauty care, textiles, and healthcare showed gains, indicating sectoral divergence in performance [1]. Group 1: Market Performance - The semiconductor sector showed mixed results, with the Chip ETF (159995.SZ) down by 0.31% as of 10:36 AM, while individual stocks like Silan Micro and Lanke Technology saw increases of 4.60% and 1.23% respectively [1]. - Conversely, stocks such as Shengmei Shanghai and Jingchen Co. performed poorly, with declines of -3.88% and -3.25% respectively [1]. Group 2: Industry Insights - Global silicon wafer shipments are projected to reach 3,327 million square inches in Q2 2025, reflecting a 9.6% increase compared to 3,035 million square inches in the same period of 2024, and a 14.9% increase from 2,896 million square inches in Q1 2023, indicating signs of recovery in sectors outside of memory [1]. - CITIC Securities noted that the current semiconductor cycle is still in an upward trend, driven by strong AI demand and a recovery in industrial sectors following consumer electronics [1]. - The future growth of the semiconductor industry is expected to be primarily driven by AI, with sustained demand from cloud AI and accelerated deployment of terminal AI applications, suggesting significant benefits for Chinese semiconductor manufacturers in the ongoing AI industry development [1]. Group 3: Investment Logic - The investment logic for listed companies in the semiconductor sector can be categorized into two main lines: domestic substitution in the cloud segment and downstream growth in the terminal segment [1].