新华财经上海8月30日电（记者魏雨田）近期，公募基金2025年中期报告陆续开始披露，安信基金、摩 根士丹利基金、融通基金、鹏华基金等多家机构旗下绩优基金的重仓方向随之浮出水面。 安信基金经理陈鹏管理的安信洞见成长混合A表现亮眼。新华财经数据显示，截至8月28日，该基金今 年以来净值涨幅为99.69%，接近翻倍。今年上半年，该基金在新消费、创新药和算力三大方向发力， 捕捉到多只翻倍牛股。从具体持仓来看，前十大重仓股中，新易盛、中际旭创等标的聚焦算力赛道，信 达生物、三生制药、绿叶制药构成创新药投资矩阵，而泡泡玛特则为新消费方向热门标的。 同样表现突出的还有2024年的"冠军基"——摩根士丹利基金经理雷志勇管理的大摩数字经济混合A。截 至8月28日，该基金2025年以来净值上涨61.36%。从最新披露的中报数据看，截至6月30日，该基金共 持有50只个股，持仓聚焦AI算力核心产业链，包括新易盛、海光信息、寒武纪等代表性标的。 对于下半年市场走向，基金经理持有积极看法。雷志勇表示，当前市场正处于新旧动能转换的关键阶 段，科技创新已开始形成对经济的向上牵引力，投资者的悲观预期得到有效扭转。从产业层面跟踪来 看，AI产 ...

全球化布局持续完善，产能扩张奠定后续增长基础。当前公司积极推进全球化布局，通过境内外自建工 厂与并购逐步完成全球化产能的建设，持续构建兼具高端制造、客户服务与区域协同的运营网络，其 中，国内产能以惠州总部为核心，结合各生产线的技术优势，划分成多层板一至六处和HDI一处、二 处，各生产单位产品定位清晰，同时可根据客户需求协同作业，大幅减少了客户前期引入及认证周期。 此外，为了满足全球客户对高多层及高阶HDI的海外交付需求，公司积极提升全球化交付和服务能力， 在泰国、越南投资建设生产线，海外高端PCB产能持续扩充，为公司未来业绩增长提供有力支撑。 单季盈利水平大幅提升，经营业绩步入高增阶段。当前AI算力需求强劲，持续推动高端高多层以及HDI 需求，公司紧抓行业高端结构性需求，实现经营业绩的快速增长，25H1公司实习营收90.31亿元，同比 +86%，实现归母净利润21.43亿元，同比+366.89%，利润率方面，随着高端产品占比提高，25H1公司 毛利率和净利率分别增长至36.22%和23.73%。单季度来看，25Q2公司营收达47.19亿元，同比 +91.51%，环比+9.42% ， 实现归母净利润12.22 ...

星标 ★ IPO日报 精彩文章第一时间推送 然而最新公告显示，杭州橙祥于8月28日因合同纠纷收到《杭州市拱墅区人民法院传票》，杭州市拱墅区人民法院 冻结了杭州橙祥持有的标的公司1051万股的股权。鉴于杭州橙祥系标的公司第三大股东，且作为本次交易的业绩承 诺方，对本次交易影响较大，且截至公告披露日，上述股权仍处于冻结状态，存在限制转让的情形，尚不符合《上 市公司监管指引第9号--上市公司筹划和实施重大资产重组的监管要求》第四条的有关规定。 为切实维护公司及全体股东利益，经公司充分审慎研究及与交易对方友好协商，决定终止本次交易事项。 8月28日晚间，梦网云科技集团股份有限公司（下称"梦网科技"，002123.SZ）公告称，公司决定终止发行股份及 支付现金购买资产并募集配套资金暨关联交易事项。 终止原因为，交易对方杭州橙祥企业管理合伙企业（下称"杭州橙祥"）因合同纠纷导致其持有的标的公司股权被冻 结，存在限制转让的情形，不符合相关监管要求。 8月29日，梦网科技股价大跌8.57%，收盘价为14.4元。 制图：佘诗婕 终止收购 今年1月，公司首次披露了收购事项。 6月，公司披露了收购草案。具体来看，公司拟发行股份及支 ...

精密线缆解决方案商，立讯控股赋能"数据中心+汽车"业务发展——汇聚科技 （1729.HK）首次覆盖报告 汇聚科技是定制电线互连方案供应商，立讯精密是控股股东。基于：1）AI算力 维持景气度，公司数据中心电线组件、特种线缆、服务器ODM业务收入持续高 速增长；2）汽车智能化趋势推动汽车线缆需求高速增长，Le o n i K与公司汽车 线束相关业务有望持续发挥渠道、技术等协同效应。 点击注册小程序 摘自： 精密线缆解决方案商，立讯控股赋能"数据中心+汽车"业务发展——汇聚 科技（1 7 2 9 .HK）首次覆盖报告 （点击阅读原文） 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 市场观点纷繁芜杂，光大研究荟萃本周重点报告，涵盖总量、行业、公司研究，为您筛选有价值的 声音。 每周六早8点，"研选"助您快 ...

截至2025年8月29日 09:48，中证半导体产业指数(931865)下跌3.59%。成分股方面，北方华创(002371)领跌6.48%，芯源微(688037)下跌5.84%，上海新阳 (300236)下跌5.74%，寒武纪(688256)下跌4.91%，中微公司(688012)下跌4.44%。半导体产业ETF(159582)下跌3.48%，最新报价1.89元。拉长时间看，截至 2025年8月28日，半导体产业ETF近1周累计上涨19.65%，涨幅排名可比基金1/2。 流动性方面，半导体产业ETF盘中换手18.98%，成交3903.71万元，市场交投活跃。拉长时间看，截至8月28日，半导体产业ETF近1周日均成交6760.19万 元。 截至2025年8月29日 09:48，上证科创板芯片指数(000685)下跌3.32%。成分股方面，盛科通信(688702)领跌7.87%，翱捷科技(688220)下跌7.70%，恒玄科技 (688608)下跌6.15%，芯源微(688037)下跌5.84%，寒武纪(688256)下跌4.91%。科创芯片ETF博时(588990)下跌8.91%，最新报价2.28元。拉长时间看 ...

Market Performance - In August, the A-share market closed positively with the Shanghai Composite Index rising by 0.37% to 3857.93 points, accumulating a 7.97% increase for the month [1] - The Shenzhen Component Index increased by 0.99%, with a total rise of 15.32% in August, while the ChiNext Index surged by 2.23%, marking a 24.13% increase [1] - The STAR 50 Index saw a significant rise of 28% in August, and the North Exchange 50 Index increased by 10.64% [1] Industrial and Company Highlights - Industrial Fulian's market capitalization surpassed 1 trillion yuan for the first time since its listing in 2018, closing at 53.83 yuan per share with a total market value of 1.07 trillion yuan [2] - The company reported a revenue of 360.76 billion yuan in the first half of the year, a year-on-year increase of 35.6%, and a net profit of 12.11 billion yuan, up 38.6% [2] - Industrial Fulian's growth is attributed to the strong demand for AI-related business and its successful production ramp-up of the GB200 series products [2][3] Lithium Battery Sector - The lithium battery sector experienced significant gains, with leading stock CATL rising by 14.15% to over 300 yuan, marking a nearly three-year high [4] - The sector's growth is driven by strong performance from leading companies, with several reporting over 60% year-on-year net profit increases [5] - The advancement towards solid-state battery production and supportive industry policies are also contributing factors to the sector's positive momentum [5] Stock Market Activity - In August, 14 stocks saw their prices double, with notable mentions including Gebijia, which surged by 155% [6][7] - The A-share market recorded a total trading volume of 48.46 trillion yuan in August, with an average daily turnover of 2.31 trillion yuan [7] - The market has shown consistent activity, with trading exceeding 20 trillion yuan for 13 consecutive days, including three days surpassing 30 trillion yuan [7] Future Outlook - Analysts suggest that technological advancements and improved market sentiment regarding China's economic prospects will continue to support the stock market [7] - The focus on equity assets is expected to rise as the attractiveness of safe-haven assets diminishes [7]

Core Insights - The AI computing power sector has recently strengthened, with key stocks like New Yisheng, Zhongji Xuchuang, and Tianfu Communication reaching new highs, leading to significant fund performance in this area [1][2] - As of August 28, 25 funds have doubled their net value in the last three months, with 50 funds showing over 90% growth, primarily due to heavy investments in the AI computing power sector [1][2] - The surge in fund performance is attributed to accelerated AI commercialization, increased capital expenditure from overseas cloud providers, and strong demand from the supply chain [1][5] Fund Performance - The "doubling funds" list has seen a significant reshuffle, with seven active equity funds achieving over 100% net value growth in the last three months [2] - The top three funds in this category are Yongying Technology Smart Selection A, AVIC Opportunity Navigation A, and Xin'ao Performance Driven A, with growth rates of 139.25%, 132.12%, and 127.12% respectively [2] - A total of 21 active equity funds have shown net value growth rates exceeding 90%, all heavily invested in the AI computing power sector [2][3] Investment Focus - The 21 funds with over 90% growth all hold New Yisheng, with 20 holding Zhongji Xuchuang and 19 holding Tianfu Communication, indicating a strong focus on these stocks [3] - The market for CPO technology, which is crucial for AI computing, is expected to grow significantly, with a projected annual growth rate of 172% from 2023 to 2030 [4] - Domestic companies in high-end optical modules hold a 70% global market share, positioning them well to benefit from the current AI computing wave [4] Policy and Demand Dynamics - The resurgence of the AI computing sector is driven by a combination of policy support and surging demand, as funds shift focus from the previously hot innovative drug sector to AI [5][6] - The Chinese government has introduced policies to promote AI across various industries, creating a favorable environment for the development of the AI industry chain [6] - The demand for AI computing is expected to explode, driven by advancements in generative AI products and increased capital expenditure from major cloud providers [7] Future Outlook - Industry experts predict potential differentiation among AI-themed funds, with some funds likely to take profits [8] - The concentration of investments in leading stocks like "Easy Zhong Tian" may lead to significant benefits during market upswings but could also pose risks during downturns [8] - Long-term investment opportunities remain in the AI computing power sector, with expectations of sustained growth in demand [9][10]

腾景科技股份有限公司 腾景科技股份有限公司（以下简称"公司"）为践行以投资者为本的理念， 推动上市公司持续优化经营、规范治理和积极回报投资者，大力提高上市公司质 量，助力信心提振、资本市场稳定和经济高质量发展，结合公司自身发展战略、 经营情况和财务情况，公司制定了 2025 年度"提质增效重回报"行动方案。2025 年上半年，公司根据行动方案内容，积极开展和落实各项工作，现将 2025 年上 半年主要进展及成效情况报告如下： 一、聚焦主营业务，坚持创新推动业务提质升级 创新，推动业务提质升级，巩固和提升公司的核心竞争力。 较上年同期增长 11.68%，盈利能力持续提升。 半年度评估报告 报告期内，公司持续加大业务开拓力度，加强品牌建设及市场宣传，参加美 国西部光电展、美国光纤通讯展、慕尼黑上海光博会、德国慕尼黑激光及光电展 等多场国内外行业展会，展示公司最新技术成果和产品应用，加强与行业专家与 客户的交流，提升行业知名度，积极开发各应用领域的客户订单，及时掌握前沿 技术趋势和行业需求动态。 在产品研发及量产方面，公司持续推进在半导体设备、高速光通信、空间光 通信及消费电子等领域的产品研发与量产进程，为公司相关 ...

Group 1 - The stock price of Cambrian Technology Co., Ltd. surged nearly 16%, reaching a new high of 1587.91 CNY per share, surpassing Kweichow Moutai, which has long held the title of the A-share king [1] - Despite Cambrian's impressive stock performance, its total market capitalization is approximately 664.3 billion CNY, significantly trailing Kweichow Moutai [1] - Kweichow Moutai's stock price has declined by 3.36% this year, contrasting with the overall A-share market's increase of nearly 15%, raising questions about the sustainability of Cambrian's rise [1][2] Group 2 - Cambrian's stock price increase is attributed to its alignment with the AI computing trend and strong performance in the first two quarters of the year [2] - The projected revenue for Cambrian this year is between 5 billion to 7 billion CNY, which appears insufficient when compared to its high market capitalization of 660 billion CNY [2] - Kweichow Moutai remains a strong player in the liquor industry, with a stable fundamental outlook despite a slowdown in growth [4] Group 3 - The current A-share market exhibits structural bull market characteristics, with sectors like AI, technology, and rare earths becoming market hotspots [4] - Cambrian's ability to maintain its strong stock performance will require time to validate, as market sentiment may drive short-term gains, but long-term performance will depend on fundamental company metrics [4] - Kweichow Moutai's stock performance serves as a significant reference point for the market [4]

证券代码：688205 证券简称：德科立 公告编号：2025-043 无锡市德科立光电子技术股份有限公司 关于首次公开发行部分募投项目延期的公告 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、准确性和完整性承担个别及连带责任。 无锡市德科立光电子技术股份有限公司（以下简称"公司"、"德科立"）于 开发行部分募投项目延期的议案》，同意公司将首次公开发行股票部分募集资金 投资项目"高速率光模块产品线扩产及升级建设项目"和"光传输子系统平台 化研发项目"达到预计可使用状态的日期进行延期。公司本次募投项目延期事 项在董事会审批权限范围内，无需提交股东会审议。现将相关事项公告如下： 一、募集资金基本情况 根据中国证券监督管理委员会 2022 年 6 月 13 日出具的《关于同意无锡市 德科立光电子技术股份有限公司首次公开发行股票注册的批复》（证监许可 〔2022〕1231 号），公司首次向社会公开发行人民币普通股（A）股 24,320,000 股，每股发行价格为 48.51 元，募集资金总额为 1,179,763,200.00 元，扣除总发 行费用 85,409, ...