智通财经APP讯，乐鑫科技(688018.SH)公告，公司拟不低于5000万元(含)，不超过1亿元(含)回购股份用 于员工持股或股权激励计划。回购价格不超过170.29元/股(含)。回购期限自公司董事会审议通过本次回 购股份方案之日起3个月内。 ...

Core Viewpoint - Company is currently in the internal development stage of its Wi-Fi 7 chip, with no specific details disclosed yet [1] Group 1 - Company will regularly disclose the use of raised funds and project progress in accordance with regulatory requirements [1]

南方财经1月29日电，乐鑫科技1月29日在互动平台表示，Wi-Fi7芯片仍处于内部研发阶段，相关细节暂 未公开。后续将按照监管要求，定期披露募集资金使用及项目进展情况。 ...

January 28, 2026 09:59 AM GMT Greater China Technology Semiconductors | Asia Pacific | M January 28, 2026 09:59 AM GMT Greater China Technology Semiconductors Asia | Morgan Stanley Taiwan Limited+ Daniel Yen, CFA | Update | | --- | --- | --- | | Pacific | Equity Analyst | | | | Daniel.Yen@morganstanley.com | +886 2 2730-2863 | | Quick comment on MCU price | Charlie Chan Equity Analyst | | | | Charlie.Chan@morganstanley.com | +886 2 2730-1725 | | hike | Morgan Stanley Asia Limited+ | | | | Daisy Dai, CFA | | ...

[Table_Reportdate] 2026年01月27日 [证券分析师： Table_Authors] 张季恺 S0630521110001 zjk@longone.com.cn 证券分析师： 王洋 S0630513040002 wangyang@longone.com.cn 联系人： 陈伟业 cwy@longone.com.cn 联系人： 邓尧天 dytian@longone.com.cn [晨会纪要 Table_NewTitle] 20260127 重点推荐 财经要闻 晨 会 纪 要 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 [table_summary] ➢ 1.药品零售新政出台，赋能行业高质量发展——医药生物行业周报（2026/01/19- 2026/01/25） ➢ 2.2026年全球AI服务器出货同比有望增超28%，AI相关芯片涨价持续——电子行业周报 2026/1/19-2025/1/25 ➢ 1.商务部：将优化实施消费品以旧换新，促进家电等大宗耐用商品消费 ➢ 2.上期所调整白银、锡期货相关合约交易限额 ➢ 3.香港特别行政区行 ...

Investment Rating - The report does not provide specific investment ratings for the industry sectors mentioned [2]. Core Insights - The overall industry strategy focuses on the simultaneous rise in energy storage volume and price, with ongoing themes in space and AI [3]. - The new energy vehicle supply chain is entering an upward cycle, benefiting companies like CATL and EVE Energy due to the electrification upgrade and optimization of energy storage patterns [3]. - By the end of December 2025, China's electric vehicle charging infrastructure is expected to reach 20.092 million units, a year-on-year increase of 49.7% [3]. - Global energy storage battery shipments are projected to reach 640 GWh in 2025, a year-on-year increase of 82.9%, with CATL maintaining a leading position [3][25]. - The solid-state battery sector is entering a critical phase of engineering and industrialization, with companies like Xiamen Tungsten and Peking University Technology benefiting [4]. Summary by Sections Energy Storage and New Energy - The energy storage trend continues to improve, with companies like Sungrow Power and Huaneng Power benefiting from a significant increase in domestic procurement, which exceeded 100 GWh for the first time [5]. - The average price of lithium battery storage systems has rebounded by 6.39% to 0.5226 yuan/Wh [5]. - AI expansion and global grid upgrades are driving demand for power equipment, benefiting companies like TBEA and Sanyuan Electric [5]. Lithium Carbonate and Battery Materials - The supply and demand for lithium carbonate are exceeding expectations, with companies like Salt Lake Potash and Hunan Youneng benefiting from favorable market conditions [4]. - The cost of phosphoric iron lithium cathode materials has increased, with processing fees rising by 318.7 yuan/ton compared to November averages [4][27]. AI and Robotics in New Energy - The integration of AI and humanoid robots in the new energy sector is gaining traction, with companies like Zhejiang Rongtai and Keda Li benefiting from advancements in robotics [7]. - Tesla's shift towards becoming a robotics company is expected to create new growth cycles, with significant implications for the automotive industry [7][26]. Market Trends and Projections - The report highlights that the global energy storage battery shipment is expected to reach 1,090 GWh in 2026, a year-on-year increase of 70% [25]. - The market for commercial energy storage products is evolving, with larger capacity batteries becoming mainstream and driving innovation in the sector [29].

Group 1: Investment Opportunities - Shanghai Suiruan Technology Co., Ltd. has received acceptance for its IPO application on the Sci-Tech Innovation Board, aiming to raise 6 billion yuan for product development, business expansion, and supply chain security [3] - The company, established in March 2018, is one of the "Four Little Dragons" of domestic GPUs, with a valuation exceeding 20 billion yuan after its last financing round [3] - The funding will support the development of fifth and sixth-generation AI chip series and advanced AI hardware-software collaborative innovation projects to meet the high-quality AI computing power demand in China [3] Group 2: Recent Financing Activities - Inner Mongolia Xibei Catering Group has completed an A-round financing, increasing its registered capital by approximately 13.1% to about 1.0168 billion yuan [4] - Hangzhou Xiwang Chip Technology Co., Ltd. has successfully raised nearly 3 billion yuan in strategic financing within a year, with investments from various industry players and VC/PE institutions [4][5] - The funds will be used for the core technology development and mass production of the next-generation inference GPUs, enhancing the company's competitive edge in the inference computing sector [4] Group 3: Aerospace Industry Developments - China Aerospace Technology Co., Ltd. has changed its IPO guidance status to acceptance, becoming one of the fastest commercial aerospace companies to progress towards an IPO [6] - The company, founded in December 2018, focuses on the development of medium and large rockets and has successfully launched 84 satellites to date [6][9] - The company has completed eight rounds of financing, with an estimated valuation of approximately 11.1 billion yuan [9] Group 4: New Fund Establishments - The Hubei Port Development Private Equity Fund has completed an expansion, raising about 2.8 billion yuan to support transportation and waterway projects in Hubei Province [9] - The fund aims to guide social capital towards high-quality development in the port and shipping industry [9] - The Changzhou City Innovation Investment Fund has been established to focus on the transformation of research results in intelligent manufacturing and new energy sectors [10][13] Group 5: Robotics and AI Investments - UBTECH Robotics has announced a partnership with local funds to invest in the intelligent robotics industry, with a total fund size of 660 million yuan [11][12] - The fund will focus on high-potential enterprises in the intelligent terminal, robotics, and AI sectors [11] - UBTECH, established in March 2012, is a leader in humanoid and intelligent service robots, recently listed on the Hong Kong Stock Exchange [12]

Market Overview - Major indices showed slight declines with Shanghai Composite Index at -0.01%, Shenzhen Component Index at -0.97%, and ChiNext Index at -1.79% [1] - TMT sector led the gains with SW Integrated Circuit Packaging (+2.68%) and SW Education Publishing (+1.67%) [1] - TMT sector faced losses with SW Communication Network Equipment (-4.11%) and SW Other Communication Devices (-4.04%) [1] Domestic News - Richtek and ALLOS are collaborating to promote the mass production of 8-inch silicon-based Micro LED, aiming to enhance brightness and efficiency [2] - Espressif Systems launched its first Wi-Fi 6E SoC chip, integrating support for multiple frequency bands [2] - Zhaochi Co. is testing 400G/800G high-speed optical modules with major domestic clients, expecting small batch shipments by Q2 2026 [2] - Goertek and Asahi Glass signed a joint venture agreement to focus on custom lenses for AI/AR/VR/MR glasses [2] Overseas News - Okano Chemical Industry introduced a copper sulfate electroplating additive for glass core substrates, enhancing through-hole filling [3] - SK Hynix completed process upgrades at its Wuxi plant, transitioning DRAM production to a more advanced 1a process [3] - Resonac announced a price increase of over 30% for its entire range of copper-clad laminates and adhesive films due to raw material shortages [3] - Samsung Electronics plans to test extreme ultraviolet lithography equipment at its Texas wafer fab in preparation for mass production in 2026 [3] AI News - Step3-VL-10B, a multimodal model with 10 billion parameters, outperformed larger models in various benchmarks [4] - A universal audio model GPA was released, integrating speech recognition, synthesis, and conversion functionalities [4] - Alibaba Cloud launched new capabilities for its PolarDB database, including AI data lake and model operator features [4] - Zhipu AI released the GLM-4.7-Flash model, achieving state-of-the-art performance in benchmark tests [4] Industry Tracking - The construction of a reusable liquid rocket production base by Galactic Glory is expected to be completed by December 2026 [5] - Hebei Medical University is applying brain-computer interface technology in clinical rehabilitation [5] - Ningxia Coal Industry successfully tested a large-scale α-olefin separation device, achieving high purity levels [5] - LimX Oli, a humanoid robot, demonstrated autonomous group actions without collisions [5] Earnings Forecasts - Tongfu Microelectronics expects a net profit of 1.1 to 1.35 billion yuan for 2025, a year-on-year increase of 62.34% to 99.24% [6] - Yutong Optical anticipates a net profit of 240 to 280 million yuan for 2025, reflecting a growth of 30.75% to 52.54% [6] - Jiuxi Software forecasts a turnaround to profitability with a net profit of 40 to 60 million yuan for 2025 [6] - Chipbond Technology expects a net profit of 275 to 295 million yuan for 2025, a year-on-year increase of 71.13% to 83.58% [6] High-Frequency Data Updates - The average price of DDR5 16G (2G×8) 4800/5600 increased by 2.83% to $36.333 [7] - Semiconductor material prices were updated, with various products showing stable pricing trends [8]

Core Viewpoint - Lattice Semiconductor has officially launched the ESP32-E22, marking its entry into the high-performance wireless connectivity sector with the first Wi-Fi 6E SoC, which initiates a new generation of product matrix [2][8] Group 1: Product Features - The ESP32-E22 is a Radio Co-Processor (RCP) that integrates tri-band Wi-Fi 6E and dual-mode Bluetooth, allowing it to fully support the wireless network protocol stack, thereby simplifying system design for developers [2][8] - It is built on Lattice's self-developed RISC-V processor architecture and Wi-Fi 6E protocol stack, providing excellent system flexibility and reliable supply chain assurance, tailored for applications with stringent wireless performance and reliability requirements [2][8] - The chip supports 2.4 GHz, 5 GHz, and 6 GHz tri-band Wi-Fi 6E, featuring 160 MHz bandwidth, 2×2 MU-MIMO, Beamforming, and advanced link layer scheduling mechanisms, ensuring high throughput and low latency even in high-density and interference-prone environments [2][8] Group 2: Bluetooth Integration - In addition to advanced Wi-Fi capabilities, the ESP32-E22 includes a Bluetooth controller that supports both classic Bluetooth (BR/EDR) and low-energy Bluetooth (Bluetooth LE 5.4), enabling seamless interoperability with both traditional and next-generation Bluetooth devices [3][9] - The system incorporates a built-in wireless coexistence algorithm to ensure reliable operation when Wi-Fi and Bluetooth are functioning simultaneously [3][9] Group 3: Technical Specifications - The ESP32-E22 runs a complete Wi-Fi and Bluetooth protocol stack internally, covering key modules such as security, authentication, scanning, roaming, and Bluetooth host functionality, allowing designers to flexibly integrate it with Lattice's own SoC or third-party main processors via high-speed interfaces like PCIe 2.1 and SDIO 3.0 [6][13] - It features a dual-core 500 MHz RISC-V processor, providing sufficient computing power for complex protocol processing and supporting advanced modulation schemes like 1024-QAM, achieving a maximum data rate of 2.4 Gbps under 5 GHz and 160 MHz bandwidth conditions [6][13] Group 4: Application Scenarios - The ESP32-E22 is a highly flexible wireless platform suitable for various applications requiring high bandwidth and low latency, including high-speed streaming, wireless video links, next-generation smart home hubs, smart appliances, industrial automation, network bridging solutions, and AR/VR accessories with strict low-latency communication requirements [7][14] - By integrating tri-band Wi-Fi 6E, classic Bluetooth, and Bluetooth LE 5.4 into a single SoC, the ESP32-E22 demonstrates Lattice's ongoing investment in high performance and flexible integration, providing developers with a secure and scalable wireless connectivity foundation to accelerate the deployment of next-generation consumer and industrial products [7][14]

Group 1 - The core viewpoint of the article is that Lexin Technology has confirmed its sales activities in the EU region, indicating a significant international presence [1] - The company has not disclosed the specific revenue contribution from EU sales, but overseas sales account for approximately 30% of total revenue [1] - Sales are conducted both through direct exports by domestic companies and through overseas agents [1]