来源：证券市场周刊市场号 文 |牛犇 节后，A股延续春节前震荡向上的趋势，化工、有色等涨价主线逻辑持续强化，今天又轮到了另一细分 涨价主线——印制电路板（PCB），以大族激光、沪电股份、深南电路为代表的相关核心概念股接连涨 停，形成一道亮丽的风景线，胜宏科技、鼎泰高科等则已完成"十倍股"的华丽蜕变。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ PCB掀起涨停潮 2月26日，A股市场涨跌互现，截至午间收盘，沪指微跌0.08%，深证成指上涨0.28%，创业板指下跌 0.39%。板块方面，继前两个交易日大涨的化工、有色之后，PCB相关概念领涨全A，其中电路板指数 大涨4.62%，位列所有热门概念涨幅榜第一，覆铜板指数以3.31%的涨幅位列第六（见图1）。 | | | : | | 热门概念涨幅榜 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 | 代码 名称 | | 涨跌幅 ▼ | 成交题 | 5日涨跌幅 | 月涨跌幅 | 年初至今 | | | 8841164 电路板指数 | | 4.62% | 702亿 | ...

Group 1 - Tianfu Communication is a global leader in optical devices and optical engine solutions, focusing on optical communication, data centers, and AI computing interconnection, with core products including passive and active optical devices and high-speed optical engines [1][34] - The company is deeply integrated with NVIDIA's ecosystem, providing key optical communication components and is one of the core suppliers for NVIDIA's computing network construction [1][34] - As NVIDIA's AI server and data center business grow rapidly, Tianfu Communication's orders for optical engines and high-speed optical devices remain robust, indicating significant performance elasticity [1][34] Group 2 - Shenghong Technology is a core supplier of AI server PCBs in China, focusing on the R&D, production, and sales of high-end printed circuit boards, with a strong technical advantage in high-speed and high-density PCBs [2][36] - The company provides critical PCB boards for NVIDIA's AI servers, benefiting from the continuous growth in NVIDIA's server shipments, leading to a strong increase in high-end PCB orders [2][36] - Shenghong Technology's market share in the AI server and data center PCB market is expected to continue rising, with long-term growth potential [2][36] Group 3 - Inspur Information is a leading AI server enterprise in China, covering AI servers, cloud computing, big data, and edge computing, and is a core partner of NVIDIA in developing AIStation and other computing platforms [3][37] - The company benefits from the explosive global demand for AI computing and the acceleration of domestic computing infrastructure, with a high order volume for AI servers and sustained high capacity utilization [3][37] - Inspur Information's market position and technical accumulation in the AI server field allow it to share in the growth of the AI industry [3][37] Group 4 - Unisplendour is a leading digital infrastructure provider in China, covering network equipment, cloud computing, big data, and information security, with its subsidiary being a core agent for NVIDIA's data center GPU and DGX systems [4][38] - The company leverages NVIDIA's technological advantages to provide AI computing solutions and related products to enterprise clients, with revenue from agency business and related solutions continuously increasing [4][38] - Unisplendour's competitiveness in AI computing solutions is expected to strengthen, benefiting from the global AI industry development and domestic digital transformation [4][38] Group 5 - Desay SV is a leading provider of intelligent driving solutions in China, focusing on smart cockpits, intelligent driving, and vehicle networking, and collaborates with NVIDIA to develop a powerful autonomous driving system based on the Orin chip [5][39] - The company experiences strong order growth for its autonomous driving solutions based on NVIDIA's Orin chip, indicating strong performance growth certainty [5][39] - Desay SV's position in NVIDIA's autonomous driving ecosystem is expected to strengthen, benefiting from the global development of the autonomous driving industry [5][39] Group 6 - Jingwang Electronics is a leading PCB and FPC manufacturer in China, with a focus on printed circuit boards, flexible circuit boards, and metal-based circuit boards, and is on NVIDIA's qualified supplier list [6][40] - The company has achieved bulk supply to customers and is steadily advancing product development and validation processes for AI servers [6][40] - Jingwang Electronics' market share in the AI server and data center PCB market is expected to continue rising, benefiting from the explosive growth of global AI computing infrastructure [6][40] Group 7 - Perfect World is a leading comprehensive entertainment company in China, covering online game development and distribution, and film production and distribution, actively collaborating with NVIDIA in AI technology and applications [8][42] - The company utilizes NVIDIA's Omniverse Audio2Face application, ACE platform, ray tracing, and DLSS technologies to enhance game development efficiency and product performance [8][42] - Perfect World's early advantage in the AI game application field is expected to strengthen as AI technology continues to integrate with the gaming industry [8][42] Group 8 - Wentai Technology is a leading semiconductor and smart terminal solution provider, covering semiconductor IDM, optical modules, and smart terminal design and manufacturing, with NVIDIA as a close partner [9][43] - The company is poised to expand its collaboration with NVIDIA, providing more AI-related supporting products as AI technology deepens in smart terminals and servers [9][43] - Wentai Technology's comprehensive layout in the semiconductor and smart terminal fields positions it well to benefit from the growth of the AI industry [9][43] Group 9 - OmniVision Technologies is a global leader in semiconductor image sensor solutions, covering CMOS image sensors and analog and mixed-signal processing [10][44] - The company's TheiaCel™DCG+LOFIC solution supports NVIDIA's products and solutions, with applications in image recognition and autonomous driving [10][44] - OmniVision's position in NVIDIA's AI ecosystem is expected to strengthen, benefiting from the explosive growth of the AI industry and image recognition technology applications [10][44] Group 10 - GDT is a leading financial technology and smart terminal solution provider in China, covering smart finance, public safety, transportation, and government services [11][45] - The company participates in AI computing solution implementation and promotion, providing AI computing services and application solutions based on NVIDIA technology [11][45] - GDT's strong accumulation in the financial technology field positions it well to benefit from the growing demand for AI applications [11][45] Group 11 - GAC Group is a comprehensive automotive manufacturing leader, covering the R&D, manufacturing, sales, and service of passenger and commercial vehicles [12][46] - The company collaborates with NVIDIA to produce L4 autonomous vehicles, enhancing its core competitiveness in the intelligent driving sector [12][46] - GAC Group's technological layout and product implementation in autonomous driving are expected to accelerate, supported by its partnership with NVIDIA [12][46] Group 12 - Digital China is a leading digital transformation solution provider in China, covering cloud computing, big data, network security, and IT distribution [14][47] - The company provides AI computing infrastructure and application solutions to clients in finance, manufacturing, and healthcare, leveraging NVIDIA's GPU technology [14][47] - Digital China's comprehensive service capability in AI computing solutions is expected to drive rapid growth in its AI-related business [14][47] Group 13 - Leadcore Technology is a leading provider of intelligent operating system products and technologies, covering intelligent driving, IoT, and intelligent vision [15][48] - The company has obtained authorization for image quality tuning from NVIDIA, participating in the R&D and product implementation of intelligent driving and edge computing [15][48] - Leadcore's position in NVIDIA's ecosystem is expected to strengthen, benefiting from the rapid development of intelligent driving and edge computing industries [15][48] Group 14 - Linyang Electronics is a leading provider of precision structural components and metal forming solutions, covering precision stamping parts and smart terminal structural components [20][54] - The company is a distributor of NVIDIA DGX AI Compute Systems, providing enterprise clients with NVIDIA AI servers and related solutions [20][54] - Linyang Electronics' strong position in the AI server distribution market is expected to drive rapid growth in its AI-related business [20][54] Group 15 - Aoyang Technology is a leading manufacturer of power semiconductor devices, covering MOSFETs, diodes, and IGBTs, with applications in automotive electronics and industrial control [21][55] - The company's power semiconductor products are used in NVIDIA-related products, providing critical power management support for AI servers and smart terminals [21][55] - Aoyang Technology's competitive position in the AI hardware power management market is expected to strengthen as global AI computing infrastructure develops [21][55] Group 16 - Beidou Star is a leading satellite navigation and positioning service provider in China, covering Beidou navigation chips, modules, antennas, and positioning service solutions [22][56] - The company collaborates with NVIDIA to provide AI solutions based on precise positioning for smart driving and smart city applications [22][56] - Beidou Star's position in NVIDIA's ecosystem is expected to strengthen, benefiting from the rapid development of smart driving and smart city industries [22][56] Group 17 - Advanced Data Communication is a leading financial technology and big data solution provider in China, covering financial IT, big data, and cloud computing [23][57] - The company is an elite partner in NVIDIA's AI and Compute business, providing AI computing solutions and technical services to clients in finance and government [23][57] - Advanced Data Communication's strong accumulation in the financial technology field positions it well to benefit from the growing demand for AI applications [23][57] Group 18 - Zhongdian Port is a leading electronic component distribution and supply chain service provider in China, covering electronic component distribution and supply chain management [24][58] - The company is an authorized distributor of NVIDIA, providing enterprise clients with NVIDIA AI chips and related solutions [24][58] - Zhongdian Port's comprehensive service capability in AI chip distribution is expected to drive rapid growth in its AI-related business [24][58] Group 19 - Magpower is a leading provider of smart home and industrial control solutions in China, covering smart home controllers and industrial power supplies [25][59] - The company is one of NVIDIA's designated data center component providers, offering innovative power solutions for AI data centers [25][59] - Magpower's strong position in the AI data center power market is expected to benefit from the growing demand for AI data center construction [25][59] Group 20 - Zhiwei Intelligent is a leading provider of intelligent hardware and edge computing solutions in China, covering edge computing gateways and industrial control computers [32][60] - The company is a member of NVIDIA's NPN partner network, launching powerful edge computing products based on NVIDIA Jetson Orin modules [32][60] - Zhiwei Intelligent's competitive position in the AI edge computing market is expected to strengthen as demand for edge AI applications continues to grow [32][60]

来源：上海证券报·中国证券网 2月26日，ETF收盘涨跌不一，中韩半导体ETF(513310)涨9.64%，国证2000ETF博时(159505)涨5.04%， 5GETF博时(159811)涨3.41%，恒生医药ETF(159892)跌3.89%，港股通医疗ETF富国(159506)跌3.67%， 港股通生物科技ETF(159102)跌3.51%。 2月26日日间盘，国内商品期货主力合约涨跌互现，其中碳酸锂主力合约涨幅居前。截至15:00收盘，菜 籽、碳酸锂、沪锡涨超3%，锰硅涨超2%，燃油涨超1%，硅铁、苹果、白糖等微涨。 2月26日，国债期货收盘全线下跌，30年期主力合约跌0.53%，10年期主力合约跌0.10%，5年期主力合 约跌0.08%，2年期主力合约跌0.03%。 2月26日，中证转债指数收跌1.03%，报525.93点。其中，佳力转债涨6.53%，奥飞转债涨6.45%，广联转 债涨6.24%；睿创转债跌7.78%，微导转债跌7.42%，亿纬转债跌6.15%。 【资金风向标】 Choice数据显示，2月26日，资金净流入额排名前十的个股依次是沪电股份、胜宏科技、亨通光电、华 胜天成、润泽科技、航 ...

瑞财经 吴文婷 近日，胜宏科技(惠州)股份有限公司（以下简称"胜宏科技"）更新IPO招股书，继续冲刺港交所，摩根大通、中信建投国际、广发证券 （香港）为联席保荐人。 以2024年及2025年上半年销售收入计，胜宏科技是全球领先的人工智能及高性能计算印刷电路板(PCB)供应商，专注于高阶高密度互连(HDI)、高多层印 刷电路板(MLPCB)的研发、生产和销售。 根据弗若斯特沙利文的资料，以 2025年上半年人工智能及高性能算力PCB收入规模计，公司的市场份额位居全球第一，于2024年，以同一指标计，公司 位居全球第七，市场份额为1.7%，核心应用涵盖AI算力卡、服务器、AI服务器、数据中心交换机、通用基板等关键设备。 据招股书，2022年-2024年，胜宏科技实现收入分别为78.85亿元、79.31亿元、107.31亿元；期内溢利分别为7.91亿元、6.71亿元、11.54亿元。 | | | | 截至12月31日止年度 | | | | | 截至9月30日止九個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 今日，A股小幅震荡，主要股指涨跌互现，深证成指、科创综指、中证500等稳步上涨，上证指数、创 业板指、北证50等微幅下跌，成交进一步放大至2.56万亿元。 | 名称 | 最新 | 涨幅 | | --- | --- | --- | | 深证成指 | 14503.79 | +0.19% | | 上证指数 | 4146.63 | -0.01% | | 创业板指 | 3344.98 | -0.29% | | 科创综指 | 1843.20 | +1.29% | | FiFF50 | 3035.07 | -0.65% | | 沪深300 | 4726.87 | -0.19% | | 科创50 | 1485.86 | +0.85% | | 北亚50 | 1544.91 | -0.15% | 盘面上，新能源、特钢、元器件、光通信等板块涨幅居前，影视院线、房地产、医疗美容、一般零售等 板块跌幅居前。 Wind实时监测数据显示，电子行业获得逾293亿元主力资金净流入，通信获得逾173亿元净流入，机械 设备获得逾135亿元净流入，国防军工获得逾50亿元净流入 ...

2月26日，A股三大指数涨跌不一。截至收盘，上证指数跌0.01%，深证成指涨0.19%，创业板指跌0.29%，科创综指涨1.29%，北证50指数跌0.15%。全市 场成交额25566亿元，较上一交易日增加757亿元。 午后，算力芯片概念拉升，寒武纪大涨近10%，截至收盘涨7.96%；云天励飞、海光信息、芯原股份、摩尔线程等跟涨。 | 丛米赤门 | 39.59 +20.01% +36.56% | | --- | --- | | 科创 688530 融 | | | 领涨龙头2 首板 最终涨停14:22 | | | 聚飞光电 | 9.30 +20.00% +28.63% | | 创 300303 融 | | | 首板 最终涨停13:36 | | | 明阳电路 | 35.16 +20.00% +66.32% | | 创 300739 融 | | | 人气龙头２ 领涨龙头1 最终涨停14:55 | | | 春晖智控 | 38.64 +20.00% +16.42% | | 創 300943 融 | | | 首板 最终涨停 11:29 | | | 杰普特 | 242.46 +20.00% +12.45% | | 科创 68 ...

2月26日，A股市场探底回升，三大指数涨跌不一，创业板指盘中一度跌超1%，黄白线分化。从板块来 看，CPO概念领涨A股，杰普特、聚飞光电、明阳电路等多只个股收获20CM涨停，智立方、华丰科 技、威尔高、迈信林等涨幅超10%。此外，东山精密、四会富仕、意华股份以及市值超2700亿元的巨头 股胜宏科技等涨超7%。 消息面上，当地时间2月25日，英伟达最新一季财报出炉，带动美股科技股普涨。财报数据显示，2026 财年第四季度，英伟达总营收为681.3亿美元，高于分析师预测的662亿美元；每股盈利为1.62美元，超 过了华尔街分析师预计的每股1.53美元的水平。公司的业绩指引同样好于预期，英伟达预计2027财年第 一财季营收为780亿美元，上下浮动2%。英伟达表示，该预测未计入来自中国的数据中心收入。 （文章来源：21世纪经济报道） ...

Market Overview - The A-share market showed mixed performance on February 26, with the Shanghai Composite Index down by 0.01% to 4146.63, while the Shenzhen Component Index rose by 0.19% to 14503.79, and the ChiNext Index fell by 0.29% to 3344.98 [1][2]. Sector Performance - Wind power equipment, CPO, PCB, and semiconductor sectors saw significant gains, while the film and television, insurance, and real estate sectors experienced declines [2]. - The CPO sector had notable performers, with stocks like Mingyang Circuit, Juchang Optoelectronics, and Jieputo reaching their daily limit up [2][3]. Notable Stocks - Top gainers included: - Mingyang Circuit (+20.00% to 35.16) - Juchang Optoelectronics (+20.00% to 9.30) - Jieputo (+20.00% to 242.46) [3]. - The film and television sector faced significant losses, with Bona Film Group dropping by 9.96% to 9.31 and Hengdian Film City down by 6.90% to 26.32 [4]. Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 2.54 trillion yuan, an increase of 758 billion yuan compared to the previous trading day, with over 2800 stocks declining [4]. Capital Flow - Main capital inflows were observed in the electronics, communications, and machinery sectors, while outflows were noted in non-ferrous metals, media, and non-bank financial sectors [6]. - Specific stocks with net inflows included Huadian Electric (42.09 billion yuan), Runze Shares (33.37 billion yuan), and Shenghong Technology (32.05 billion yuan) [6]. Institutional Insights - Citic Securities indicated that Zimbabwe's suspension of lithium ore exports could lead to a significant rise in the lithium sector [7]. - Zhongtai Securities suggested continued attention to AI healthcare and brain-computer interface themes for potential investment opportunities [7]. - Huatai Securities noted that the U.S. designation of phosphorus-based agricultural resources as strategic resources could have far-reaching impacts [7].

据交易所数据显示，截至2月26日收盘，主力资金流入前20的股票分别为： 沪电股份（15.53亿元）、 胜宏科技（13.99亿元）、 亨通光电（10.93亿元）、 华胜天成（9.40亿元）、 润泽科技（8.43亿元）、 航天动力（8.12亿元）、 聚飞光电（8.09亿元）、 中天科技（7.05亿元）、 芯原股份（6.60亿元）、 高澜 股份（6.50亿元）、 东方电气（6.33亿元）、 华银电力（6.09亿元）、 东山精密（5.95亿元）、 世运电路（5.55亿元）、 川润股份（5.04亿元）、 赛微电子 （4.81亿元）、 永鼎股份（4.56亿元）、 光迅科技（4.51亿元）、 豪威集团（4.31亿元）、 华丰科技（4.19亿元）。 | 华银电力 | 10.06 | 6.09亿元 | 公用事』 | | --- | --- | --- | --- | | 东山精密 | 8.01 | 5.95亿元 | 电子 | | 世运电路 | 4.95 | 5.55亿元 | 电子 | | 川润股份 | 10.02 | 5.04亿元 | 机械设备 | | 赛微电子 | 4.95 | 4.81亿元 | 电子 | | 永鼎股份 | ...

据交易所数据显示，截至2月26日午后一小时，主力资金流入前20的股票分别为： 胜宏科技（17.49亿元）、 沪电股份（14.35亿元）、 亨通光电（10.44亿 元）、 润泽科技（9.37亿元）、 东山精密（8.66亿元）、 华胜天成（8.47亿元）、 航天动力（7.82亿元）、 聚飞光电（7.74亿元）、 中天科技（6.34亿 元）、 高澜股份（6.17亿元）、 华银电力（5.90亿元）、 芯原股份（5.53亿元）、 东方电气（5.19亿元）、 永鼎股份（4.81亿元）、 川润股份（4.69亿 元）、 深南电路（4.58亿元）、 赛微电子（4.40亿元）、 工业富联（4.28亿元）、 光迅科技（4.15亿元）、 深科技（3.99亿元）。 | 芯原股份 | 6.09 | 5.53亿元 | 电子 | | --- | --- | --- | --- | | 东方电气 | 10.01 | 5.19亿元 | 电力设备 | | 永鼎股份 | 5.48 | 4.81亿元 | 通信 | | 川润股份 | 10.02 | 4.69亿元 | 机械设备 | | 深南电路 | 10 | 4.58亿元 | 电子 | | 塞微电子 | ...