Cambricon(SH:688256) Sou Hu Cai Jing·2025-08-25 02:37Core Viewpoint - The A-share chip sector has become the strongest market direction due to the dual benefits of Nvidia's suspension of H20 chip production and the launch of DeepSeek, with leading company Cambricon Technologies experiencing significant stock price increases [1][5]. Group 1: Stock Performance - Cambricon's stock price surged to 1243 yuan, making it the second highest in A-shares after Kweichow Moutai, with a market capitalization exceeding 520 billion yuan [1]. - Since July 11, Cambricon's stock has increased by 137%, and year-to-date, it has risen from under 50 yuan to 1243 yuan, representing a maximum increase of over 25 times [3]. - Goldman Sachs raised Cambricon's target price by 50% to 1835 yuan, which could push its market capitalization close to 770 billion yuan if achieved [3]. Group 2: Market Dynamics - The market speculation around Cambricon is driven by three core logic points: accelerated domestic substitution due to geopolitical factors, explosive demand for large model inference driven by local developments like DeepSeek, and Cambricon's leading industry position as "China's Nvidia" [5]. - The recent news of Nvidia's suspension of H20 chip production has further catalyzed the surge in demand for domestic AI chips, with the official release of DeepSeek-V3.1 adapting to domestic chip architectures [5]. Group 3: Company Insights - Cambricon's founder, Chen Tianshi, born in 1985, has seen his wealth increase significantly with the stock price surge, holding 29.63% of the company, which is now valued at 154.1 billion yuan [5]. - Notably, prominent investor Zhang Jianping has increased his stake in Cambricon to 608.63 million shares, making him the seventh largest shareholder with a market value of 7.566 billion yuan, realizing a floating profit of over 4 billion yuan [6].