格隆汇2月25日｜午后半导体设备、材料板块加速上攻，有机硅、和林微纳"20CM"涨停，富创精密涨超 15%，带动科创半导体ETF(588170)劲升5.93%，半导体设备ETF华夏(562590)涨5%。 催化剂上： ①Meta与AMD达成超千亿美元AI芯片协议，双方计划未来五年内部署多达6吉瓦算力的AMD人工智能 芯片，用于数据中心的扩张。 ②存储芯片涨价潮延续带动韩股大涨，韩国Kospi指数史上首次突破6000点，今年大涨超45%。此前SK 海力士董事长承诺提高人工智能内存芯片产量。 ③北京大学电子学院团队创造性地制备了迄今尺寸最小、功耗最低的铁电晶体管，有望为AI芯片算力 和能效提升提供核心器件支撑。 ④据国际半导体产业协会SEMI预测，2025年全球半导体制造设备总销售额预计达1330亿美元，同比增 长13.7%，创历史新高。 AI热潮带动存储芯片扩产，直接拉升半导体设备需求，相关产品： 产业人"卖铲人"·科创半导体ETF(588170)，近20日合计净流入19.37亿元，成份股涵盖中微公司（刻蚀设 备）、拓荆科技（薄膜沉积设备）、华海清科（CMP设备）、沪硅产业（300mm硅片）、天岳先进 （碳化硅 ...

A股硬科技赛道迎来强势回暖行情，半导体设备板块成为领涨先锋，其中半导体设备ETF（159516）盘中大幅拉升，单日涨幅突破5%，成交额显著放大，资 金入场迹象明显。这一轮强势反弹并非短期情绪推动，而是行业周期复苏、AI算力爆发、国产替代加速与政策资金共振的结果，背后蕴藏着清晰且扎实的 产业逻辑。 再者，AI算力、先进封装、存储芯片涨价等多重催化不断，行业景气度持续上行，设备企业业绩兑现能力强，盈利确定性不断提升。 最后，机构配置需求旺盛，半导体设备具备高壁垒、高景气、高成长特征，是公募、社保等长期资金重点配置方向，资金面支撑强劲，为板块长期走势提供 坚实保障。对于普通投资者而言，半导体设备赛道技术壁垒高、个股研究难度大、波动风险较高，直接投资个股容易面临选股难题与踩雷风险，而通过ETF 布局则是更为高效、稳健的选择。 半导体设备ETF（159516）紧密跟踪中证半导体材料设备主题指数（931743），精准聚焦半导体设备与材料两大核心赛道，覆盖刻蚀、薄膜沉积、量测、清 洗、硅片、特种气体、光刻胶等芯片上游关键环节，是布局半导体设备赛道的核心工具。该ETF持仓纯度极高，一键打包北方华创、中微公司、拓荆科技、 华海 ...

Group 1 - Peking University’s electronic engineering team has developed the smallest and lowest power ferroelectric transistor to date, which is expected to support AI chip computing power and energy efficiency improvements [1] - CITIC Construction Investment Securities noted that the domestic production rate of semiconductor equipment has increased from 4.91% in 2018 to 18.02% in 2024, while the upstream component localization rate remains low, particularly in high-barrier areas such as RF power supplies and optical components [1] - As of February 25, 2026, the STAR Market semiconductor materials and equipment theme index (950125) rose by 3.28%, with significant gains in constituent stocks such as Youyan Silicon (up 11.28%) and Fuchuang Precision (up 10.54%) [1] Group 2 - The STAR Market semiconductor materials and equipment theme index closely tracks the performance of listed companies involved in semiconductor materials and equipment, reflecting the overall performance of these companies on the STAR Market [2] - As of January 30, 2026, the top ten weighted stocks in the STAR Market semiconductor materials and equipment theme index accounted for 73.89% of the index, including companies like Huahai Qingshi and Zhongwei Company [2]

Core Signal - SK Hynix has indicated a significant shift in the global memory chip industry, stating it has transitioned to a seller's market with DRAM and NAND flash inventory levels at historical lows of approximately 4 weeks, leading to unmet demand from all customers [3] - The company's high bandwidth memory (HBM) capacity for 2026 is fully sold out, and the supply of standard DRAM remains tight, enhancing the bargaining power of manufacturers [3] - Due to the rigid demand from AI infrastructure and supply constraints, SK Hynix predicts a quarterly price increase for memory chips starting in 2026 [3] Industry Transmission - The semiconductor cycle is expected to rise from 2025 to 2026, driven by AI, with domestic wafer fabs operating at full capacity and price increases already observed in certain process nodes [4] - The surge in demand for AI servers has led to a severe shortage in packaging and testing capacity, prompting manufacturers to raise prices [4] - A systemic price increase is occurring across the entire semiconductor industry, affecting upstream wafer manufacturing, packaging, testing, and downstream products like storage chips and power semiconductors [4] High Rebound Sharpness - The semiconductor equipment ETF (561980) tracks the CSI semiconductor industry index, with over 90% weight in upstream sectors, and the top ten constituent stocks accounting for about 75% [6] - As of February 24, the ETF has a total size of 3.516 billion, with a net inflow of 9.21 million on that day [6] - Since 2020, the CSI semiconductor index has increased by 277%, significantly outperforming other semiconductor indices, indicating a stronger rebound and potential resilience in the upcoming semiconductor cycle [6][7]

Company Developments - Samsung released a new smartphone equipped with artificial intelligence technology on February 25 [3] - Tongwei Co., Ltd. announced a suspension of trading starting February 25 as it plans to acquire 100% equity of Qinghai Lihua Qingneng Co., Ltd. through a combination of share issuance and cash payment [3] - Gude Electric Materials issued shares on February 25 with a price of 58 yuan per share and a price-to-earnings ratio of 27.96, focusing on components for battery thermal runaway protection [3] - Kaipu Cloud decided to terminate a major asset restructuring plan involving the acquisition of a 70% stake in Shenzhen Jintaike [10] - Meta and AMD reached an agreement for AI device procurement, with AMD set to sell AI chips worth up to $60 billion to Meta [10] Industry Insights - The State Council's meeting on February 24 emphasized the potential of the silver economy and the need for supportive measures to enhance the development of the elderly care industry, projecting the market size to reach approximately 12 trillion yuan in 2023 and exceed 20 trillion yuan by 2027 [6] - A breakthrough in chip technology was reported by a team from Peking University, creating the smallest and lowest power-consuming ferroelectric transistor, which could significantly enhance AI chip performance and energy efficiency [9] - The semiconductor market is expected to continue improving, driven by high demand from AI servers and new energy vehicles, with a recommendation to focus on leading companies in the sector [9] - The Shanghai Gold Exchange announced adjustments to margin levels and price limits for certain contracts, effective February 24 [5]

Group 1: Industry Insights - A research team led by Qiu Chengguang from Peking University has developed the smallest and lowest power-consuming ferroelectric transistor to date, which is expected to support AI chip performance and energy efficiency improvements [1] - This new technology breaks the physical limitations of traditional ferroelectric transistors, achieving energy consumption levels that are an order of magnitude lower than the best international standards [1] - The ultra-low working voltage and energy-efficient characteristics of the nano-gate ferroelectric transistor provide a core component solution for building high-efficiency data centers and lay a critical technological foundation for the next generation of high-performance AI chips [1] - Donghai Securities notes that global semiconductor demand continues to improve, with rapid growth in AI servers and new energy vehicles, and demand is expected to recover further by January 2026 [1] - Despite high and rising inventory levels among companies, the demand surge in certain segments driven by AI is leading upstream wafer foundries to increase prices, while memory price hikes may affect costs in consumer electronics like mobile phones and PCs, potentially slowing shipments [1] - Overall, the semiconductor supply-demand landscape is expected to remain favorable in February, with domestic semiconductor production likely to accelerate, suggesting investors should pay attention to leading companies in specific segments [1] Group 2: Company Developments - Huahai Qingke's main products include CMP equipment, thinning equipment, cutting equipment, wet processing equipment, wafer regeneration, key consumables, and maintenance services, having initially achieved a platform strategy layout of "equipment + services" [2] - Shengmei Shanghai is engaged in the development, manufacturing, and sales of semiconductor cleaning equipment and semiconductor plating equipment, providing customized, high-performance, and low-consumption process solutions for semiconductor manufacturers [2]

Group 1 - The core point of the article is that the recent US Supreme Court ruling on the $175 billion tariff refund has significant implications for both China and the A-share market, despite the refund being an internal US matter [2][6][28] - The $175 billion in tariffs was primarily collected from imports, including a 10% tariff on Chinese goods, and is now being refunded to US importers [8][10] - The refund will indirectly benefit Chinese companies as US importers, who have been financially strained by tariffs, will use the refunded money to pay off debts to Chinese suppliers and resume orders [12][14][28] Group 2 - The immediate impact on the A-share market is expected to be positive, with a potential "opening red" for A-shares as market sentiment improves following the ruling [40][46] - The ruling is seen as a signal that the previous high tariffs on Chinese goods may not be a permanent state, which could lead to a more favorable environment for Chinese exports [20][48] - Structural opportunities in the A-share market are identified, focusing on five main lines: export-oriented sectors, domestic substitution, strategic resources, domestic consumption, and new energy [51][62][88] Group 3 - Export-oriented sectors, particularly those with high exposure to the US market, are expected to benefit directly from the tariff refunds, with companies like Midea Group and Haier expected to see improved performance [52][72][73] - Domestic substitution and self-sufficiency in sectors like semiconductors and military equipment are highlighted as long-term strategic focuses, with companies like SMIC and AVIC Shenyang Aircraft being key players [53][78][86] - Strategic resources such as rare earths and gold are also expected to see price support due to ongoing global supply chain disruptions, benefiting companies like Northern Rare Earth and Shandong Gold [56][87]

证券代码：688120 证券简称：华海清科 公告编号：2026-008 华海清科股份有限公司 关于独立董事任期即将届满辞任暨 提名独立董事候选人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 华海清科股份有限公司（以下简称"公司"）董事会于近日收到独立董事金玉丰先生、李全先生、管荣齐 先生的书面辞职报告，因连续担任公司独立董事即将满六年，申请辞去公司独立董事职务及其在董事会 各专门委员会中的职务，在公司股东会选举产生新任独立董事之前，将继续履行独立董事和董事会专门 委员会相关职责。 同时为完善公司治理结构，保证公司董事会的正常运作，公司于2026年2月13日召开第二届董事会第二 十二次会议，审议通过了《关于提名第二届董事会独立董事候选人的议案》，同意提名雷震霖先生、马 德芳先生、王浩先生为公司第二届董事会独立董事候选人，其中马德芳先生为会计专业人士。新任独立 董事在公司2026年第二次临时股东会审议通过选举独立董事相关议案之日起就任，任期与公司第二届董 事会一致，具体情况公告如下： 一、独立董事离任情况 （一）离任 ...

Core Viewpoint - The company, Huahai Qingke (688120.SH), is undergoing a change in its independent board members as three independent directors have submitted their resignation due to nearing the six-year term limit, while new candidates have been proposed to ensure governance continuity [1] Group 1 - The board received resignation letters from independent directors Jin Yufeng, Li Quan, and Guan Rongqi, who will continue their duties until new independent directors are elected [1] - The company held its 12th meeting of the second board on February 13, 2026, to discuss the nomination of new independent directors [1] - Lei Zhenlin, Ma Defang, and Wang Hao have been nominated as candidates for the second board's independent directors, with Ma Defang being a professional accountant [1]

国泰海通证券股份有限公司 关于华海清科股份有限公司 部分募集资金投资项目延期的核查意见 二、募集资金使用情况 截至 2025 年 12 月 31 日，公司的募集资金投资项目使用情况如下： 单位：万元 | 募投项目 | 拟投入募集资金金 | 已投入募集资金金 | | --- | --- | --- | | | 额 | 额 | | 高端半导体装备（化学机械抛光机）产业化 | 35,000.00 | 13,937.42 | | 项目(注 1) | | | | 高端半导体装备研发项目 | 20,000.00 | 20,000.00 | 1 | 募投项目 | 拟投入募集资金金 | 已投入募集资金金 | | --- | --- | --- | | | 额 | 额 | | 晶圆再生项目（注 2） | 15,000.00 | 14,020.49 | | 集成电路高端装备研发及产业化项目 | 50,000.00 | 36,458.38 | | 补充流动资金（注 3） | 30,000.00 | 30,148.59 | | 合计 | 150,000.00 | 111,578.95 | 注 1："高端半导体装备（化学机械抛光机）产 ...