电子行业周报：Deepseekv3.1发布，国内外算力产业持续看好-20250826

Investment Rating - The report maintains a rating of "Outperform" for the electronic industry, indicating a relative performance expectation of over 10% compared to the benchmark index [3][34]. Core Insights - The report continues to be optimistic about opportunities in the domestic computing power industry driven by advancements in advanced processes and the overseas computing power supply chain [2][28]. - The release of Deepseek V3.1 is expected to enhance domestic computing power demand, particularly in training applications, while the halt in production of the H20 chip by Nvidia may improve the penetration rate of domestic AI chips [28]. - The report highlights significant investment opportunities in both domestic and overseas ASIC supply chains, particularly in the context of AI hardware investments transitioning to a reasoning-driven era [2][28]. Summary by Sections Market Review - The overall market saw an increase, with the Shanghai Composite Index rising by 3.49% and the Shenwan Electronics Index increasing by 8.95%, ranking second among 31 sectors [1][13]. Weekly Focus - The report discusses the release of Deepseek V3.1, which features a hybrid reasoning architecture and improved efficiency [23][24]. - Nvidia's request to halt production of the H20 chip is noted, reflecting a strategic reassessment of its market approach in China [25][28]. - GoerTek's acquisition of Shanghai Aolai is aimed at enhancing its core competitiveness in micro-nano optical devices for AI and AR applications [26][27]. Investment Opportunities - Domestic computing power opportunities are emphasized, with a focus on companies like SMIC and Huahong Semiconductor, as well as semiconductor equipment and materials firms [28]. - The overseas ASIC supply chain is highlighted, particularly companies with significant capacity increases, such as Huidian Co., and PCB manufacturers like Shengyi Technology [28].