Cambricon(SH:688256) 21世纪经济报道·2025-08-12 14:13Group 1 - The market experienced a strong upward trend on August 12, with the Shanghai Composite Index recording a seven-day winning streak and all three major indices reaching new highs for the year. Chip stocks surged in the afternoon, with Cambrian (688256.SH) hitting a 20% limit up, achieving a market capitalization of 355.1 billion yuan [1][3]. - There are rumors that Cambrian has increased its procurement of substrates and wafers, suggesting that its performance in the second half of the year may exceed expectations. However, Cambrian clarified on its interactive platform that the information regarding large substrate orders, revenue forecasts, new products, samples, potential customers, and supply chain is misleading and not true [3][5]. - CITIC Securities recently published a report indicating that the current semiconductor cycle is still in an upward trend, driven by strong AI demand. The report suggests that both cloud AI demand and terminal AI applications are expected to accelerate, with Chinese semiconductor manufacturers likely to benefit significantly from the ongoing development of the AI industry [5].