长江存储母公司股改完成，科创半导体ETF（588170）回调幅度收窄，伺机上攻

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index decreased by 0.42% as of September 25, 2025, with mixed performance among constituent stocks [1] - The Sci-Tech Semiconductor ETF (588170) fell by 0.61%, with the latest price at 1.47 yuan, while its trading volume was active at 3.75 billion yuan and a turnover rate of 26.42% [1] - The latest scale of the Sci-Tech Semiconductor ETF reached a new high of 1.43 billion yuan, with a total of 967 million shares outstanding, also a record high [1] Group 2 - Yangtze Memory Technologies Co., Ltd. held its inaugural shareholders' meeting, indicating the completion of its shareholding reform and an upgrade in corporate governance structure [2] - Open-source Securities highlighted that optical modules and PCBs are crucial components of the AI computing power chain, experiencing significant growth in both shipment and value [2] - The liquid cooling sector is identified as a strategic investment opportunity within the AI computing power chain, characterized by strong growth, complete narrative, and favorable odds [2] Group 3 - The Sci-Tech Semiconductor ETF (588170) and its linked funds track the semiconductor materials and equipment index, focusing on hard-tech companies in semiconductor equipment (59%) and materials (25%) [3] - The semiconductor equipment and materials industry is a key area for domestic substitution, benefiting from low domestic replacement rates and high ceilings for domestic substitution [3] - The semiconductor materials ETF (562590) and its linked funds also emphasize the upstream semiconductor sector, with significant representation from semiconductor equipment (59%) and materials (24%) [3]