TSMC(US:TSM) Xin Lang Ji Jin·2026-01-16 05:50Core Viewpoint - TSMC's Q4 2025 earnings exceeded expectations, marking the seventh consecutive quarter of double-digit growth, and raised its 2026 capital expenditure guidance to $52-56 billion, nearly 40% higher than previous forecasts, indicating strong and sustainable demand in the AI industry chain [1] Group 1: Semiconductor Industry Insights - Driven by AI demand, prices for upstream electronic components are increasing, with supply shortages in the storage and high-end PCB sectors, and various segments such as wafer foundry, advanced packaging, analog chips, passive components, and LCDs also showing price increase expectations [1] - The semiconductor sector is experiencing heightened trading activity, particularly in materials and equipment, with significant market enthusiasm and increased transaction volumes [1] - The Sci-Tech Semiconductor Equipment ETF (588710) has seen a trading volume of 271 million yuan by 11:00 AM, surpassing 64% of the previous day's total trading volume, indicating strong investor interest [1] Group 2: ETF and Fund Management - The Sci-Tech Semiconductor Equipment ETF (588710) closely tracks the Shanghai Stock Exchange Sci-Tech Board Semiconductor Materials and Equipment Index, with a weight of 84.8% in the semiconductor equipment and materials sector, focusing exclusively on the Sci-Tech Board for stock selection [1] - Huatai-PB Fund, the manager of the Sci-Tech Semiconductor Equipment ETF, is one of the first ETF managers in China, with its flagship product, the Huatai-PB CSI 300 ETF, reaching a scale of 410.379 billion yuan as of January 9, 2026 [1] - The Huatai-PB CSI 300 ETF announced a cash dividend of 1.23 yuan per 10 fund shares, with a total distribution amounting to nearly 11 billion yuan, potentially setting a record for single dividend payouts in domestic ETFs [1]