转自：新华财经 新华财经香港2月26日电（记者林迎楠）26日，港股主要指数高开低走，截至收盘，恒生指数下跌 1.44%至26381.02点，恒生科技指数下跌2.87%至5109.33点，国企指数下跌2.44%至8814.29点。 当日恒指高开254.02点，开报27019.74点，开盘走势向下，早盘盘中窄幅整理，午后跌幅扩大，最终恒 指跌384.70点，主板成交超2592亿港元。当日，港股通（南向）净流出超73亿港元。 整体来看，风电、光通讯、影视等股多为上涨，银行、航空、港口运输等股有涨有跌，新消费、黄金、 有色金属、商业航天、生物医药、新能源车企、科网、券商、石油与天然气等股多有下跌。 个股方面，小米集团跌1.18%，中国平安跌4.64%，长飞光纤光缆涨2.97%，中芯国际跌3.22%，香港交 易所涨0.78%，美团跌2.72%，快手跌4.14%，天数智芯涨20.27%，中电控股跌2.20%，东方电气涨 15.52%，建设银行跌1.60%，宁德时代跌6.49%，耀才证券金融跌4.17%，中国银行跌0.64%。 成交额前三的个股中，阿里巴巴跌3.57%，成交超143亿港元；腾讯控股跌2.01%，成交超132 ...

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) is progressing with a share acquisition plan to purchase 49% of the equity in SMIC North from five institutions for a total price of 40.601 billion yuan [1][4]. Group 1: Acquisition Details - SMIC's announcement on February 25 indicates that the application for the share acquisition has been accepted by the Shanghai Stock Exchange, but it still requires approval from the China Securities Regulatory Commission [1]. - The acquisition aims to enhance asset quality and operational efficiency, allowing SMIC to fully control SMIC North, which will streamline resource allocation and management [3][4]. - The transaction price of 40.601 billion yuan corresponds to a valuation of 82.859 billion yuan for 100% of SMIC North, reflecting an appreciation rate of 98.19% [6]. Group 2: Operational Insights - SMIC North, established in collaboration with the Beijing government, focuses on 12-inch wafer manufacturing and has a production capacity of 70,000 wafers per month across two 300mm production lines [2]. - The technology capabilities of SMIC North cover nodes from 65nm to 28nm, serving various sectors including smartphones, computers, and automotive applications [2]. Group 3: Financial Context - The share price for the acquisition is set at 74.20 yuan per share, which is approximately 80% of the average trading price of 92.75 yuan over the previous 120 trading days, indicating a discount of about 35.3% compared to the price before the trading halt [4]. - As of February 26, SMIC's market capitalization has surpassed 930 billion yuan, reflecting strong investor interest [8].

Group 1 - Southbound funds recorded a net sell of HKD 73.66 million in Hong Kong stocks today, marking the second consecutive day of net selling [1] - Notable net purchases included Meituan-W at HKD 311 million and Dongfang Electric at HKD 125 million, while significant net sales were observed in CNOOC at HKD 893 million and Alibaba-W at HKD 888 million [1] - Southbound funds have net bought Meituan for seven consecutive days, totaling HKD 3.61242 billion, and Xiaomi for five consecutive days, totaling HKD 3.22538 billion [3] Group 2 - Demand for optical fibers is surging due to AI requirements, with G.652.D optical fiber prices in China reaching a near seven-year high of HKD 35 per core kilometer, reflecting a 79% month-on-month increase and a 92% year-on-year increase as of January 2026 [4] - China plans to increase the production capacity of 7nm and 5nm chips from less than 20,000 wafers per month to approximately 100,000 by around 2028, with long-term goals to reach 500,000 wafers per month by 2030, primarily through SMIC [4] - Huahong Semiconductor is projected to achieve revenue of USD 660 million in Q4 2025, representing a year-on-year growth of 22.4%, driven by ASP improvements and cost reduction efforts [4]

Core Insights - On February 26, 2026, Alibaba-W (09988), Tencent Holdings (00700), and Yangtze Optical Fibre and Cable (06869) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 4.492 billion, 3.391 billion, and 2.065 billion respectively [1] - The same companies also led in trading volume in the Shenzhen-Hong Kong Stock Connect, with trading amounts of 4.376 billion, 3.171 billion, and 1.531 billion respectively [1] Southbound Stock Connect Trading Activity - **Top Active Companies**: - Alibaba-W (09988): Trading amount of 4.492 billion, net buy of -0.231 billion [2] - Tencent Holdings (00700): Trading amount of 3.391 billion, net buy of +37.9726 million [2] - Yangtze Optical Fibre and Cable (06869): Trading amount of 2.065 billion, net buy of -0.246 billion [2] - SMIC (00981): Trading amount of 1.740 billion, net buy of -0.221 billion [2] - CNOOC (00883): Trading amount of 1.709 billion, net buy of -0.626 billion [2] Shenzhen-Hong Kong Stock Connect Trading Activity - **Top Active Companies**: - Alibaba-W (09988): Trading amount of 4.376 billion, net buy of -0.657 billion [2] - Tencent Holdings (00700): Trading amount of 3.171 billion, net buy of -0.587 billion [2] - Yangtze Optical Fibre and Cable (06869): Trading amount of 1.531 billion, net buy of -0.379 billion [2] - Xiaomi Group-W (01810): Trading amount of 1.351 billion, net buy of +27.0028 million [2] - Kuaishou-W (01024): Trading amount of 0.808 billion, net buy of -0.06332 billion [2]

净卖出中国海洋石油8.93亿、阿里巴巴-W 8.88亿、长飞光纤光缆6.24亿、腾讯控股5.48亿、中国人寿 4.36亿、中芯国际2.98亿、华虹半导体2.84亿、泡泡玛特2.45亿。 据统计，南下资金已连续7日净买入美团，共计36.1242亿港元；连续5日净买入小米，共计32.2538亿港 元；连续4日净卖出中海油，共计12.2479亿港元。 格隆汇2月26日｜南下资金今日净卖出港股73.66亿港元，为连续第2日净卖出。其中： 净买入美团-W 3.11亿、东方电气1.25亿； ...

智通财经APP获悉，2月26日港股市场，北水成交净卖出73.66亿港元，其中港股通(沪)成交净卖出23.11亿港元，港股通(深) 成交净卖出50.55亿港元。 小米集团-W(01810)获净买入1835万港元。消息面上，小米集团董事长兼CEO雷军表示，小米计划未来五年重点攻坚芯 片、AI、操作系统等底层核心技术，向着成为全球硬核科技公司的目标不断努力。 华虹半导体(01347)、中芯国际(00981)分别遭净卖出2.84亿、2.98亿港元。消息面上，摩根士丹利在研报中表示，人工智能 的需求正推动半导体行业剧烈分化。AI存储芯片(如HBM)等上游厂商显著受益；但下游的PC、手机制造商等则可能面临难 以转嫁成本的压力。 中国人寿(02628)遭净卖出4.36亿港元。消息面上，汇丰发布研报称，根据中国A股上市公司规定，如果其年度盈利增长至 少50%，则必须在1月底前发布盈利预告。尽管中国人寿公布2025年九个月的净利润同比增60.5%，但公司并未发布盈利预 告，该行估算或意味国寿在2025年第四季净亏损至少录得74亿元人民币。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 净流入 | | --- | --- ...

今日（2月26日），港股市场高开低走，最终主要指数显著回落。 截至收盘，恒生指数报26381.02点，回落384.70点，跌幅1.44%。 恒生科技指数高开低走，最终收盘报5109.33点，下跌151.17点，跌幅2.87%，创下去年6月24日以来新 低。 恒生科技指数成分股中，小鹏汽车-W（HK09868）跌超5%，华虹半导体、哔哩哔哩、理想汽车、百度 集团、快手、地平线机器人跌超4%。权重较大的个股中，中芯国际、比亚迪股份、阿里巴巴跌超3%， 腾讯跌超2%。 受业绩利好刺激，香港交易所股价今日逆势飘红，最终上涨0.78%。 其他方面，盘面上，风电股强势领涨，东方电气大涨15%；建材水泥股集体弱势，海螺水泥跌超6%。 港股创新药集体回落，百济神州跌超9%，药明合联跌超8%，先声药业、药明生物跌超7%。 资金方面，南向资金大规模净卖出。截至收盘，南向资金净卖出港股超73亿港元。 展望后市： 焦点方面，香港交易所（HK00388）公布2025年全年业绩。公告显示，香港交易所2025年收入及其他收 益为291.61亿港元，较2024年上升30%，股东应占溢利为177.54亿港元，较2024年上升36%。2025年 ...

2月26日，中芯国际大宗交易成交18.15万股，成交额2117.73万元，占当日总成交额的0.56%，成交价 116.65元，较市场收盘价116.65元持平。 | A 27 % William Julia 1 Bill Picies | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | | 卖出营业部 | 是否为专场 | | 026-02-26 | 中发国际 | 688981 | 116.65 | 2117.73 | 18.15 有限公司总盘股份 | 茶量是多餐紹喜喔 | | 190 | ...

消息面上： 英伟达Q4业绩不仅刷新了市场对AI算力需求的认知，更成为全球半导体行业的"强心剂"，间接为科创芯片ETF(588200)带来估值催化。 作为全球AI芯片的绝对龙头，英伟达的业绩表现直接反映了全球半导体行业的景气度，其技术迭代与订单情况也为国内半导体企业提供了重要参考。 科创芯片ETF(588200)标的指数今日涨1.4%，年初以来累计上涨16.54%，年内净流入30.93亿元，居同标的第一。 科创芯片ETF(588200)的标的指数上证科创板芯片指数堪称半导体产业的"超级工厂"，全面覆盖芯片设计、制造、设备、材料、封测全产业链，整合了 芯片从"画图"到"出厂"的所有关键环节，避免了单一环节波动对指数表现的过度冲击。 这种全链条布局的优势的尤为明显，在行业周期波动中，不同环节的业绩弹性可以形成互补，有效平滑指数波动，也是其抗风险能力强于单一赛道芯片 ETF的核心原因。 从权重分布来看，指数呈现"龙头压阵、集中度适中"的特征，兼顾稳定性与成长弹性。其中中芯国际作为具备高端芯片代工能力的企业，凭借稳定的代 工订单为指数提供"压舱石"作用；前十大权重股覆盖设计、制造、设备三大核心环节，合计占比59%。 如 ...

医药生物板块重挫，百济神州跌逾9%，药明合联跌超8%，药明生物跌逾7%。 科网股全线走低，小鹏汽车跌逾5%，华虹半导体、理想汽车、快手、哔哩哔哩、百度集团跌逾4%，阿 里巴巴、腾讯音乐、携程集团、中芯国际跌超3%，腾讯控股、京东集团、美团跌超2%。 | 名称 | 涨跌幅 ▲ | 现价 | 涨跌 | | --- | --- | --- | --- | | 小鹏汽车-W | -5.06% | 67.500c | -3.600 | | 本町未合体 | -4.82% | 97.850c -4.950 | | | 昨週昨回-W | -4.63% | 218.200c -10.600 | | | 理想汽车-W | -4.45% | 68.650c -3.200 | | | 目度集团-SW | -4.27% | 123.400c -5.500 | | | 快手-W | -4.14% | 63.600c | -2.750 | | 地平线机器人-W | -4.11% | 8.160c -0.350 | | | 阿里健康 | -3.97% | 5.560c -0.230 | | | 零跑汽车 | -3.90% | 41.380c ...