半导体再掀涨停潮！“上行周期”成多家公募共识

Core Viewpoint - The recent surge in the semiconductor equipment sector is not coincidental, as the market is favoring more certain directions, supported by frequent industry benefits [2][11]. Market Performance - On September 24, major indices rose, with the Shanghai Composite Index up 0.83% and the Shenzhen Component Index up 1.8%. The ChiNext Index reached a three-year high, and over 4,400 stocks in the market increased [4]. - The semiconductor industry saw a "limit-up" trend, with over 20 stocks, including Chengbang Co., Zhangjiang Hi-Tech, and Tongfu Microelectronics, hitting the daily limit. Alibaba's stock also surged over 9% [4][2]. Fund Holdings - Jiangfeng Electronics, which saw a 20% increase, was favored by public funds, with a holding ratio of 16.56% among 308 funds. Other notable stocks include Jiewa Technology and Jingyi Equipment, with fund holdings exceeding 25% [5][4]. ETF Performance - Several ETFs, including the Sci-Tech Semiconductor Equipment ETF and the Semiconductor Materials ETF, saw gains of over 9% and 8%, respectively. The GT Fund's Sci-Tech Semiconductor ETF recorded a transaction volume of 1.987 billion yuan, the highest since its inception [6]. Industry Outlook - The semiconductor equipment and materials sector is expected to see a long-term increase in domestic production rates, with capital expenditure expansion benefiting profitability [11][2]. - The demand for AI chips in China is projected to grow, driven by increased capital expenditure from cloud service providers and the rising application of AI technologies [8]. Investment Strategy - The semiconductor industry is entering a "second upward cycle," and investment strategies should focus on companies with significant market share growth and technological breakthroughs in design, packaging, materials, and equipment [11][9].