碾压市场预期，海内外巨头业绩共振！算力芯片午后猛拉，寒武纪涨近10%！“全芯”589190上探2%

Core Viewpoint - The semiconductor sector is experiencing a strong performance, driven by significant earnings reports from leading companies both domestically and internationally, indicating a positive trend in AI-related hardware demand and investment opportunities in the industry [1][3][5]. Group 1: Market Performance - The Huabao Sci-Tech Chip ETF (589190) saw a price increase of over 2% during the day, closing up 1.44%, marking a new monthly high since February 6 [1]. - Major stocks in the sector, such as Cambricon Technologies (寒武纪-U), surged nearly 10%, closing up 7.96%, with a trading volume of 16.035 billion yuan, ranking second in A-share market volume [1]. - Other notable performers included TuoJing Technology and XinYuan Wei, both rising over 4%, while several other stocks gained more than 3% [1]. Group 2: Earnings Reports - Nvidia reported a revenue of $68.1 billion for Q4 of fiscal year 2026, a 73% year-on-year increase, with data center revenue reaching $62.3 billion, up 75% [1]. - Haiguang Information's preliminary report indicated a revenue of 14.376 billion yuan for 2025, a 56.91% increase, and a net profit of 2.542 billion yuan, up 31.66% [3]. - Haiguang Information expects a net profit of 860 million to 960 million yuan for Q1 2026, representing a year-on-year growth of 62.95% to 81.89% [3]. Group 3: Industry Outlook - Dongwu Securities highlighted that AI hardware investments are on the rise, with a focus on self-reliance in technology during the 14th Five-Year Plan, suggesting accelerated development in domestic semiconductors, particularly in advanced processes [5]. - Oriental Securities noted that the demand for AI inference is driving the need for AI computing power, leading to a supply-demand imbalance that is expected to benefit domestic hardware manufacturers [5]. Group 4: Index Performance - The Shanghai Stock Exchange Sci-Tech Chip Index has achieved an annualized return of 17.93% since its inception, outperforming similar indices and demonstrating a better risk-reward ratio [8][9]. - The index's maximum drawdown is relatively smaller compared to other semiconductor indices, indicating a more stable investment option [9].