产业策略01期：【产业策略】半导体产业整体上涨，动力电池和光伏最为承压

Market Performance - The semiconductor industry is the only sector that saw an increase, with a selected index rising by 3.2%, outperforming the Shanghai Composite Index by 6.8 percentage points[3] - The largest declines were in the power battery sector (-7.1%) and photovoltaic sector (-6.6%) over the past week[3] - Global semiconductor sales growth is approximately 20%, with China's growth close to this level at around 19%[3] Policy Signals - The Shanghai Stock Exchange introduced guidelines to support Sci-Tech Innovation Board companies in refinancing for R&D, with about 32% of companies meeting the criteria[3][10] - These qualifying companies account for over 46% of the total market capitalization of the Sci-Tech Innovation Board[12] Industry Trends - TSMC achieved a breakthrough in 2nm process technology, with the price of a 300mm wafer expected to exceed $30,000, up from the previous estimate of $25,000[4][14] - Tesla's recent "We, Robot" event showcased advancements in autonomous driving technology, with expectations for mass production of Robotaxi by 2026 or 2027[4][15] - In the first nine months, China's new energy vehicle sales exceeded 8.3 million units, a year-on-year increase of over 30%, with total annual sales projected to reach 12 million units[4][16] Mergers and Acquisitions - Baiao Chemical plans to invest 700 million RMB in Suzhou Xinhui Semiconductor Technology, gaining control over 54.63% of voting rights[5][17] - Zhizheng Co. intends to acquire assets related to semiconductor packaging materials while divesting its cable polymer materials business[5][19] - Several companies, including Aotwei and Changchuan Technology, are increasing their stakes in subsidiaries to strengthen business control[5][20]