Mei Ri Jing Ji Xin Wen·2025-11-17 01:59Core Insights - The semiconductor sector is experiencing a temporary downturn, but the long-term growth logic remains intact, driven by supply chain security and self-sufficiency trends [3] Industry Updates - SMIC reported Q3 2025 revenue of 17.162 billion yuan, a 6.9% increase quarter-on-quarter and a 9.9% increase year-on-year, achieving a record high for a single quarter. The net profit attributable to shareholders was 1.517 billion yuan, up 43.1% year-on-year and 60.64% quarter-on-quarter [2] - Domestic GPU company Moore Threads has initiated its IPO process on the Sci-Tech Innovation Board, planning to issue 70 million shares to raise 8 billion yuan for the development of next-generation AI training and inference chips, graphics chips, and AI SoC chips [2] - Huawei is set to unveil a breakthrough technology in the AI field on November 21, which is expected to enhance the utilization efficiency of computing resources from the industry average of 30%-40% to 70%, significantly unlocking the potential of computing hardware [2] - Nvidia's earnings report, highly anticipated in the current earnings season, is expected to be released this week, with some investors believing that Wall Street's bullish sentiment towards the company is not yet strong enough [2] ETF Insights - The Sci-Tech Semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (61%) and materials (23%), highlighting the importance of domestic substitution in these sectors, which have low domestic replacement rates and high ceilings for domestic substitution [3] - The Semiconductor Materials ETF (562590) also emphasizes semiconductor equipment (61%) and materials (21%), concentrating on the upstream semiconductor industry [3]