Sou Hu Cai Jing·2025-09-04 02:29Group 1 - The A-share market experienced a collective decline on September 4, with the Shanghai Composite Index dropping by 1.08%. The power equipment, retail, and social services sectors showed gains, while the communication and comprehensive sectors faced significant losses. The chip sector remained sluggish, with the chip ETF (159995.SZ) down by 4.21% and key stocks like Cambrian down by 8.90% [1] - The World Semiconductor Trade Statistics (WSTS) reported that the global semiconductor market is projected to reach $346 billion in the first half of 2025, representing a year-on-year growth of 18.9%. The full-year market size for 2025 has been revised upward to $728 billion, reflecting a 15.4% increase [1] - Tianfeng Securities' research indicates a continued optimistic growth trend for the global semiconductor market in 2025, driven by AI and ongoing domestic substitution efforts amid escalating risks related to supply chain disruptions. The second quarter earnings forecasts for various companies in the sector are promising, and the third quarter is expected to be a peak season for semiconductors [1] Group 2 - The chip ETF (159995) tracks the National Chip Index, which includes 30 leading companies in the A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing. Notable constituents include SMIC, Cambrian, Changdian Technology, and Northern Huachuang [2]