半导体早参 | 摩尔线程打新发行价公布，费城半导体指数跌超4%

Market Performance - On November 20, the Shanghai Composite Index fell by 0.40% to close at 3931.05 points, the Shenzhen Component Index dropped by 0.76% to 12980.82 points, and the ChiNext Index decreased by 1.12% to 3042.34 points [1] - In the U.S. market, the Dow Jones Industrial Average declined by 0.84%, the Nasdaq Composite fell by 2.15%, and the S&P 500 dropped by 1.56%. The Philadelphia Semiconductor Index saw a significant decrease of 4.77% [1] Company Announcements - Moer Thread announced the issuance of 70 million shares at a price of 114.28 yuan per share, aiming to raise a total of 8 billion yuan, with a net amount expected to be 7.576 billion yuan after deducting issuance costs. The total market value upon listing is projected to reach 53.715 billion yuan [2] - New Yichang reported that its semiconductor packaging business has gained recognition from overseas clients, resulting in orders worth several million yuan [2] Industry Insights - The semiconductor equipment and materials sector is identified as a crucial area for domestic substitution, characterized by low domestic replacement rates and high potential for growth. This sector is expected to benefit from the expansion of semiconductor demand driven by the AI revolution and ongoing technological advancements [3] - The Sci-Tech Innovation Semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (61%) and materials (23%), indicating a strong emphasis on the upstream semiconductor industry [3]