登录新浪财经APP 搜索【信披】查看更多考评等级 A股代码：688981 A股简称：中芯国际 公告编号：2026-006 中芯国际集成电路制造有限公司（以下简称"公司"）拟向国家集成电路产业投资基金股份有限公司、北 京集成电路制造和装备股权投资中心（有限合伙）、北京亦庄国际投资发展有限公司、中关村发展集团 股份有限公司及北京工业发展投资管理有限公司发行股份购买其所合计持有的中芯北方集成电路制造 （北京）有限公司49%的股权（以下简称"本次交易"）。 2026年2月25日，公司收到上海证券交易所（以下简称"上交所"）出具的《关于受理中芯国际集成电路 制造有限公司发行股份购买资产申请的通知》（上证科审（并购重组）〔2026〕7号），上交所依据相 关规定对公司报送的发行股份购买资产的申请文件进行了核对，认为该项申请文件齐备，符合法定形 式，决定予以受理并依法进行审核。 本次交易尚需上交所审核通过及中国证券监督管理委员会同意注册等。本次交易能否通过上述审批及最 终取得批准或同意注册的时间均存在不确定性。公司将根据本次交易的进展情况，按照有关法律法规要 求及时履行信息披露义务，敬请广大投资者注意投资风险。 港股代码：0 ...

Group 1: China-Germany Relations - President Xi Jinping met with German Chancellor Merz, emphasizing three points for future China-Germany relations: mutual support, open and beneficial innovation partnership, and cultural understanding [1] Group 2: SK Hynix Investment - SK Hynix plans to invest 21.6 trillion KRW (approximately 150.7 billion USD) in a new chip production line in Yongin, South Korea, by 2030 to meet the growing semiconductor demand [2] Group 3: RMB Appreciation - Both onshore and offshore RMB have risen above 6.87 against the USD, driven by improved China-US trade relations, a weaker USD, and accelerated demand for currency conversion due to high export growth [3] - The appreciation of RMB is expected to attract foreign investment, particularly benefiting sectors like food and beverage, home appliances, and construction materials [3] - The RMB's rise may also positively impact sectors with high USD debt exposure, such as aviation and industrial metals [3] Group 4: Zimbabwe Lithium Export Suspension - Zimbabwe's Ministry of Mines announced an immediate suspension of all raw and lithium concentrate exports to enhance mineral regulation, allowing only companies with valid mining rights to export [4] - The expected lithium production in Zimbabwe for 2025 is projected at 28,000 tons, ranking fourth globally [4] Group 5: US-China Trade Relations - The Chinese Ministry of Commerce responded to the US Trade Representative's comments on continuing the 301 investigation into China's compliance with the Phase One trade agreement, urging the US to adopt a rational perspective [5] Group 6: UK Sanctions on Russia - The Chinese Foreign Ministry expressed strong dissatisfaction with the UK's expansion of sanctions against Russia, which includes Chinese entities, emphasizing the need for normal Sino-Russian cooperation [6] Group 7: Chinese Film Industry - China's film box office for 2026 is projected to exceed 9 billion USD, making it the largest single market globally, with the Spring Festival box office reaching 5.752 billion CNY [7] Group 8: Hong Kong IPO Market - The Hong Kong IPO market has seen a significant increase, with 24 companies completing IPOs in 2026, raising a total of 892.26 billion HKD, marking a year-on-year growth of 1013.59% [8] Group 9: Nvidia Earnings Report - Nvidia is set to release its quarterly earnings, with analysts predicting a 64.4% revenue growth for Q1 FY2027, highlighting the scrutiny on its performance amid previous high expectations [10] Group 10: Energy Storage Sector - The energy storage sector is experiencing significant developments, with Google adopting innovative "iron-air battery" technology, indicating a potential breakthrough in the battery industry [12] - The demand for large-scale energy storage is expected to grow by over 60% in 2026, driven by various factors including the US Inflation Reduction Act and increasing needs in emerging markets [12]

Investment Rating - The report assigns a "Buy" rating for Hong Kong Exchanges and Clearing Limited (00388.HK) as a first coverage [4]. Core Insights - The report highlights that Hong Kong Exchanges and Clearing Limited experienced a significant increase in revenue and net profit for the first three quarters of 2025, with revenue and net profit growing by 37% and 45% year-on-year, reaching HKD 21.9 billion and HKD 13.4 billion respectively [4]. - The EBITDA margin improved by 5 percentage points to 79% due to scale effects, with Q3 alone showing an 8% and 10% quarter-on-quarter growth in revenue and net profit [4]. - The report emphasizes the strong performance in spot trading and stock options, with average daily trading amounts (ADT) for stock securities products increasing by 150% year-on-year to HKD 267.9 billion in Q3 [5]. Summary by Sections Financial Performance - For the first three quarters of 2025, the revenue from spot trading increased by 75% year-on-year to HKD 111 billion, accounting for 51% of total revenue [5]. - The average daily trading amount for southbound and northbound trading increased by 285% and 144% respectively, contributing to the overall growth in trading volume [5]. - The financial derivatives segment saw a decline in average daily contract volume by 7% year-on-year, while stock options trading increased by 30% [5]. Strategic Initiatives - Hong Kong Exchanges and Clearing Limited has implemented several strategic measures, including the launch of LME-approved warehousing facilities and adjustments to minimum price fluctuations in the securities market [6][7]. - The company is also focusing on enhancing market vitality and technological empowerment, with plans to shorten the settlement cycle for the cash market [6][7]. IPO Contributions - In the first three quarters of 2025, there were 69 successful IPOs on the Hong Kong Exchange, raising a total of HKD 188.3 billion, marking the highest level since 2022 [8]. - The report notes that internet and technology stocks were the main contributors to trading volume, with the top ten stocks accounting for 30% of the total market ADT [8]. Profit Forecast and Valuation - The report projects that the net profit for Hong Kong Exchanges and Clearing Limited will reach HKD 17.9 billion, HKD 20.3 billion, and HKD 22.1 billion for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 37.5%, 13.1%, and 9.0% [9]. - The current price-to-earnings (P/E) ratios are forecasted to be 29.1, 25.7, and 23.6 for the years 2025, 2026, and 2027 [9].

证券研究报告：电子 | 公司点评报告 股票投资评级 买入 |维持 个股表现 2025-02 2025-05 2025-07 2025-09 2025-12 2026-02 -22% -15% -8% -1% 6% 13% 20% 27% 34% 41% 48% 中芯国际 电子 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 115.82 | | --- | --- | | 总股本/流通股本（亿股）80.01 | / 20.00 | | 总市值/流通市值（亿元）9,266 | / 2,316 | | 52 周内最高/最低价 | 140.13 / 81.28 | | 资产负债率(%) | 35.2% | | 市盈率 | 251.78 | | 第一大股东 | HKSCC NOMINEES | | LIMITED | | 研究所 分析师:吴文吉 SAC 登记编号:S1340523050004 Email:wuwenji@cnpsec.com 中芯国际(688981) 收入创新高 l 投资要点 市场有风险，投资需谨慎 请务必阅读正文之后的免责条款部分 发布时间：2026-02-25 产业链切换迭 ...

Major Announcements - SMIC's application for issuing shares to purchase assets has been accepted by the Shanghai Stock Exchange [2] - Gree Electric's largest shareholder plans to reduce its stake by no more than 2% [35] - Haiguang Information expects a net profit increase of 22.56% to 42.32% in Q1 2026 [18] Company Developments - SMIC plans to issue shares to acquire 49% of the equity in Zhongke North Integrated Circuit Manufacturing [2] - Bona Film Group reports normal operations with no significant changes in the internal and external business environment [2] - ST Xinhua Jin is under investigation by the CSRC for information disclosure violations [3] - Shandong Haihua plans to invest 48.37 billion yuan in a soda ash facility upgrade for energy efficiency [4] - ST Yanshi warns of potential delisting risks due to significant stock price fluctuations and unresolved audit issues [5] - Saifutian's subsidiary has resumed production, stabilizing the supply of photovoltaic battery products [6] - Jin'an Guoji's subsidiary has been recognized as a high-tech enterprise, benefiting from tax incentives [7] - Chuanjinno reports market rumors regarding U.S. national security priorities affecting its operations [8] - Lingyi Zhi Manufacturing plans to invest in a fund focused on advanced equipment manufacturing [9] - Songsheng Co. is establishing a joint venture for digital energy products [10] - Longbai Group's subsidiary has partially resumed production after safety inspections [10] - Tongyuan Petroleum reports no significant changes in its business environment despite stock price fluctuations [11] Financial Performance - Haiguang Information's 2025 revenue reached 14.376 billion yuan, a 56.91% increase, with a net profit of 2.542 billion yuan, up 31.66% [18] - Sainuo Medical's 2025 revenue was 525 million yuan, a 14.53% increase, with a net profit of 47.286 million yuan, up 3057.05% [19] - Koweil's 2025 revenue was 514 million yuan, a 7.39% increase, with a net profit of 64.8996 million yuan, up 32.32% [20] - United Imaging's 2025 revenue reached 13.821 billion yuan, a 34.18% increase, with a net profit of 1.888 billion yuan, up 49.6% [21] - Nanya New Materials reported a 2025 net profit of 241 million yuan, a 378.65% increase [22] - Yanzhou Coal's Australian subsidiary reported a 2025 after-tax profit of 440 million AUD [23] - Lante Optical's 2025 net profit was 388 million yuan, a 76.09% increase [24] - Huafeng Measurement's 2025 net profit was 538 million yuan, a 61.22% increase [26] - Hancable's 2025 net profit was 592 million yuan, a 9.59% decrease [27] - Transsion Holdings reported a 2025 net profit of 2.584 billion yuan, a 53.43% decrease [27] - Aiko Optoelectronics reported a 2025 net profit of 64.0919 million yuan, a 307.63% increase [28] - Huachuang Technology's 2025 net profit was 42.678 million yuan, an 89.45% increase [29] - Honghua Digital's 2025 net profit was 529 million yuan, a 27.63% increase [29] - Zhujiang Beer reported a 2025 net profit of 903 million yuan, an 11.42% increase [30] - Xindong Lian Ke's 2025 net profit was 302 million yuan, a 36.1% increase [31] - Qingda Environmental's 2025 net profit was 181 million yuan, a 94.62% increase [33] - Shenkong Co.'s 2025 net profit was 101 million yuan, a 146.54% increase [34] - Chip Micro's 2025 net profit was 290 million yuan, an 80.42% increase [34]

此外，当天海光信息还发布公告称，预计2026年第一季度实现营业收入39.1亿元至42.2亿元，同比增长 62.91%至75.82%；实现归属于母公司所有者的净利润6.2亿元至7.2亿元，同比增长22.56%至42.32%。 中新社北京2月25日电 (记者 陈康亮)中国上市公司海光信息技术股份有限公司(下称海光信息)25日发布 业绩快报称，2025年公司实现归属于母公司所有者的净利润约25.42亿元(人民币，下同)，比上年同期增 加31.66%。 公开资料显示，海光信息是中国半导体产业的头部公司，主要从事高端处理器、加速器等计算芯片产品 和系统的研究、开发。截至25日收盘，海光信息A股总市值逾5700亿元，在A股半导体板块市值仅次于 中芯国际。(完)【编辑:惠小东】 业绩快报还显示，2025年，海光信息实现营业收入约143.76亿元，比上年同期增加56.91%；实现归属于 母公司所有者的扣除非经常性损益的净利润约23.03亿元，比上年同期增加26.82%。 针对业绩改善的原因，海光信息方面表示，主要是因为在报告期内，中国国产高端芯片市场需求持续攀 升，公司通过深化与整机厂商、生态伙伴在重点行业和重点领域的合作， ...

（原标题：A股公告精选 | 中芯国际(688981.SH)拟购中芯北方49%股权 *ST岩石可能被终止上市） 今日聚焦 1、ST西发：收到法院对预重整延期决定书 ST西发2月25日公告，2023年7月25日，公司收到西藏自治区拉萨市中级人民法院送达的《决定书》，经债权人申请，拉萨中院决定对公司进行预 重整，并指定上海市锦天城律师事务所担任公司预重整临时管理人，具体负责开展各项工作。公司于2026年2月25日收到拉萨中院决定书，主要内 容如下："本院认为，临时管理人提出西藏发展因历史问题情况复杂，部分债务涉及历史遗留问题提出延期，其理由正当。为有效维护企业运营价 值，维护债权人合法权益，提高重整效率和效果，决定对西藏发展预重整延期1个月，即自2026年2月26日延长至2026年3月25日。" 2、方正证券：减持计划实施期限届满 中国信达未减持公司股份 方正证券2月25日公告，公司股东中国信达于2025年11月26日至2026年2月25日期间未减持公司股份，原计划减持不超过8232万股，约占公司总股 本的1.00%。截至2026年2月25日，减持计划实施期限届满，中国信达未减持公司股份。 3、川金诺：市场传闻称美 ...

Core Viewpoint - China's leading chipmakers are accelerating production plans for advanced semiconductors to meet rising domestic AI demand despite U.S. export restrictions [1] Group 1: Industry Developments - Companies like Semiconductor Manufacturing International Co. (SMIC) and Hua Hong Semiconductor are expanding or planning to start production of advanced chips, including 7-nanometer and 5-nanometer technologies [2] - The national initiative aims to increase advanced chip production to 100,000 wafers within one to two years, up from under 20,000 currently, with a long-term goal of adding 500,000 additional wafers by 2030 [3] Group 2: Challenges and Risks - Uncertainty exists regarding the achievement of production targets due to U.S. export restrictions that limit access to advanced chipmaking equipment, with foreign machines still outperforming domestic alternatives [4] - Ongoing U.S.-China tensions, particularly regarding semiconductor exports, could impact the supply chain for AI and other technology sectors [5][6]

（文章来源：每日经济新闻） 黄河旋风（600172.SH）2月25日在投资者互动平台表示，尊敬的投资者您好，截至目前相关产品还没 有量产。公司生产经营活动正常，外部市场环境、行业政策亦未发生重大变化。 每经AI快讯，有投资者在投资者互动平台提问：尊敬的董秘您好！想向您核实公司合资子公司河南乾 元芯钻6-8英寸金刚石热沉片的产业化推进关键信息，具体问题如下： 1.该产品当前是否已进入试产或 小批量生产阶段？若已启动，小批量产能规模情况 2.针对华为、中芯国际等客户，该产品的 PRS（性 能评估）与 STR（小批量试产）测试验证是否已完成？ 3.后续 MSTR（大批量验证）计划何时启动？ 批量验证通过后是否有明确的供货预期？ 盼您基于公司实际进展予以客观披露，感谢您的回复！ ...

马年头两个交易日，A股喜迎"开门红"！2月25日，A股三大指数携手上涨，全市场超3700只个股收红， 逾百股涨停。沪深京三市成交额2.48万亿元，较昨日放量2628亿元。 盘面上，周期龙头再续雄风！特朗普政府试图主动介入关键矿产定价路径，稀土和小金属大爆发，有色 ETF（159876）场内价格继昨日大涨3.18%基础上，今日再涨4.02%，延续强势表现。特朗普将元素磷及 草甘膦等关键除草剂纳入国防关键物资，磷化工概念活跃，化工ETF（516020）场内价格劲涨1.6%，刷 新2022年1月以来的阶段高点。 值得关注的是，上海发布楼市"沪七条"优化住房限购政策，全市场唯一*地产ETF（159707）场内价格 劲涨2.33%，一举收复4根均线。马斯克抛出疯狂"月球计划"，叠加我国重复使用火箭朱雀三号计划今年 二季度再次挑战回收，军工ETF（512810）场内涨幅摸高1.84%，放量斩获四连阳。全球存储巨头SK海 力士的最新发声，让全球存储市场的涨价潮再度升温，全"芯"科创芯片ETF华宝（589190）场内涨幅最 高上探1.45%。 另一方面，资金积极抢筹AI方向！双线布局"算力+AI应用"的创业板人工智能ETF（ ...