【芯片ETF（159995.SZ）震荡走低，机构看好2026年国产设备扩产趋势】

Group 1 - The A-share market saw a collective rise in the three major indices on November 20, with the Shanghai Composite Index increasing by 0.29%. The sectors that performed well included non-ferrous metals, building materials, and environmental protection, while beauty care and retail sectors faced declines [1] - The semiconductor sector experienced a mixed performance, with the Chip ETF (159995.SZ) down by 0.36% as of 10:14 AM. Notable declines were seen in companies such as Zhongwei Company (-3.17%), Northern Huachuang (-2.75%), and Tuojing Technology (-2.16%). However, some individual stocks like Wentai Technology and Shengmei Shanghai saw increases of 2.67% and 1.09%, respectively [1] Group 2 - Domestic semiconductor equipment companies reported positive growth in Q3 2025, with Northern Huachuang showing a healthy revenue recovery and significant profit growth for companies like Zhongwei and Tuojing. The outlook for 2026 suggests accelerated expansion in advanced logic and memory production lines, benefiting from downstream advanced packaging trends and gradually extending into computing power fields [3] - According to招商证券, the acceleration of domestic self-controllable processes will continue to benefit from the expansion trends in advanced logic and memory production lines in 2026. There is a recommendation to focus on domestic large chip manufacturers and companies benefiting from marginal recovery and increased demand for AI servers [3] - The Chip ETF (159995) tracks the Guozheng Chip Index, which includes 30 leading companies in the A-share chip industry across materials, equipment, design, manufacturing, packaging, and testing, such as SMIC, Cambrian, Changdian Technology, and Northern Huachuang [3]