AI或成半导体产业向上成长最大驱动力，科创半导体ETF（588170）蓄势回调，买盘活跃

Core Viewpoint - The semiconductor sector is currently in an upward cycle, driven by the strong performance of artificial intelligence (AI) and a recovery in the industrial sector, which is expected to benefit Chinese semiconductor manufacturers significantly in the future [1][2]. Group 1: Market Performance - As of August 19, 2025, the Shanghai Stock Exchange's Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index fell by 1.01%, with mixed performance among constituent stocks [1]. - Leading stocks included Jing Sheng Co., which rose by 6.09%, and Shen Gong Co., which increased by 3.87%, while Shanghai Hejing fell by 5.64% [1]. - The Sci-Tech Semiconductor ETF (588170) decreased by 1.33%, with a latest price of 1.11 yuan, indicating a potential opportunity for investment during the pullback [1]. Group 2: Investment Logic - The investment logic in the semiconductor sector can be divided into two main lines: focusing on cloud computing with self-sufficiency and looking at downstream growth in terminal markets [1]. - The semiconductor equipment and materials industry is crucial for domestic substitution, characterized by low domestic replacement rates and high ceilings for domestic alternatives [2]. - The sector is expected to benefit from the expansion of semiconductor demand driven by the AI revolution, technology restructuring, mergers and acquisitions, and advancements in lithography technology [2].