Group 1: AI Chip Development - DeepSeek-V3.1, a new model, features a hybrid reasoning architecture and supports both thinking and non-thinking modes, enhancing efficiency [1] - The model utilizes UE8M0 FP8 Scale parameter precision, indicating future applications in domestic AI chips, which may accelerate the domestic computing power ecosystem [1] - Companies like Yuntian Lifei focus on AI inference chips, with a projected explosive growth in inference computing demand over the next five years, expected to reach 67% of AI workloads by 2024 [2][3] Group 2: Market Dynamics and Company Performance - Semiconductor and computing concept stocks surged in the A-share market, with the Sci-Tech 50 Index rising over 8% [2] - Companies are actively investing in AI capabilities, with significant investments in AI computing centers, such as Zhonghao Xinying's 200 PFlop/s AI computing center [3] - Companies like Shunwang Technology are expanding their edge computing capabilities to meet the growing demand for computing power [5] Group 3: Product Development and Market Strategy - Companies are developing AI-related products, with a focus on overcoming high AI hallucination rates and enhancing performance to compete with major players like Huawei and Cambrian [2] - Jiangyuan Technology's D10 chip is the first fully domestic AI computing chip, with ongoing efforts to develop the necessary software ecosystem for overseas markets [7] - Companies are committed to digital transformation and optimizing operational efficiency to enhance competitiveness and support high-quality development [6][8]

记者丨见习记者李益文 编辑丨叶映橙 8月22日，A股市场全天震荡走高，午盘后沪指成功突破3800点大关，报收3825.76点，续创十年新高， 科创50涨超8%创3年多新高。沪深两市全天成交额2.55万亿元，较上个交易日放量1227亿元。 板块方面，电子板块A股市值今日达到11.38万亿元，正式超过银行业，成为A股市值最大行业。其中， 算力芯片方向成资金追捧焦点，科德教育（300192.SZ）、昆仑万维（300418.SZ）、海光信息 （688041.SH）等多股20CM涨停。 其中，算力芯片龙头股，寒武纪（688256.SH）尾盘涨停，报收1243.2元/股，总市值5201亿元，位列科 创板第一。21财经·南财快讯记者注意到，目前寒武纪股价距离贵州茅台（600519.SH）1463.95元/股的 收盘价仅差220.75元，距离"股王"宝座不到一个涨停板。 消息面上，昨日DeepSeek-V3.1模型正式发布，该模型采用UE8M0FP8技术，为国产芯片发展注入新的 动力。技术进步推动算力芯片国产化进程加速，相关企业获得资金关注。投资者对半导体产业链的未来 发展表现出积极态度，推动相关股票价格走高。 中信建投认为 ...

Core Viewpoint - The A-share market is experiencing a bullish trend, with the Shanghai Composite Index surpassing 3800 points, reaching a ten-year high, and the STAR Market 50 Index rising over 8%, marking a three-year high [1][5]. Market Capitalization Rankings - The electronic sector has become the largest industry in A-shares, with a market capitalization of 11.38 trillion yuan, surpassing the banking sector at 11.36 trillion yuan [2]. Key Companies and Developments - Leading companies in the computing power chip sector, such as Cambrian (688256.SH), have seen significant stock price increases, with Cambrian's market capitalization reaching 520.1 billion yuan, positioning it as the top stock on the STAR Market [3]. - The release of the DeepSeek-V3.1 model, which utilizes UE8M0FP8 technology, is expected to accelerate the domestic chip development process, attracting investor interest in the semiconductor industry [3]. Market Trends and Investor Behavior - There is a noticeable influx of new retail investors into the A-share market, with 1.9636 million new accounts opened in July, a 71% increase compared to the same period last year [4]. - Analysts predict that the bullish market sentiment will continue in the short term, with expectations of limited market corrections after early September [4].

国投证券依然强调当前若纯粹基于流动性上涨，对于后续大盘向上空间展望是谨慎乐观的，大盘指数向 上空间真正打开需要市场从流动性牛—基本面牛—新旧动能转化牛实现"三头牛"的兑现转变，这是未来 一年逐步验证的过程。 消息面上，昨日盘后DeepSeek-V3.1模型正式发布，该模型采用UE8M0FP8技术，为国产芯片发展注入 新的动力。技术进步推动算力芯片国产化进程加速，相关企业获得资金关注。投资者对半导体产业链的 未来发展表现出积极态度，推动相关股票价格走高。， 中信建投（601066）认为，国产算力板块迎来密集催化。DeepSeek更新模型，DeepSeekV3.1发布，明 确支持FP8精度与将发布的下一代国产芯片，头部国产开源模型对国产芯片的支持有望推动国产算力生 态加速落地。 事实上，近期牛市氛围浓厚，资金跑步入场迹象明显。上交所官网显示，今年7月，A股新开户数继续 增长，达196.36万户，与去年同期新开户数115.14万户相比增长近71%，环比增长超19%。其中，个人 投资者开户195.4万户，机构投资者开户0.96万户。 展望后市，申万宏源证券（000562）发布研报称，短期牛市氛围继续主导市场。看中期做 ...

Market Overview - The Shanghai Composite Index reached 3800 points, marking a ten-year high, with the ChiNext Index rising over 3% and the STAR Market Index soaring more than 8% [3] - A total of 2803 stocks rose, with 79 hitting the daily limit up, while 2396 stocks declined [3][4] - The total trading volume was approximately 25,788.42 billion, with a total of 5426 stocks traded [4] Sector Performance - Financial stocks, led by brokerages, showed strong performance, with Everbright Securities and Xinda Securities hitting the daily limit up, and Zhinancai rising over 10% to a new high [5] - The semiconductor sector experienced a collective surge, with stocks like Cambrian and Zhaoyi Innovation hitting the daily limit up, and SMIC rising over 10% [7] Key Stocks - Notable performers in the financial sector included: - Everbright Securities (601788) up 10.01% at 20.78 - Xinda Securities (601059) up 6.6% at 19.72 - GF Securities (000776) up 7.27% at 22.42 [6] - In the semiconductor sector, key stocks included: - Cambrian (288526) up 20% at 1243.20 - Zhaoyi Innovation (603986) up 10% at 150.88 [8] Catalysts for Semiconductor Surge - The surge in the semiconductor sector is attributed to two main factors: 1. The update of the DeepSeek model to version V3.1, which is expected to support FP8 precision and domestic chips, indicating a boost for the domestic computing power sector [9] 2. Nvidia's halt in the production of the H20 chip, leading to increased investor confidence in Chinese AI chip manufacturers as alternative suppliers [10]

Market Performance - On August 22, the stock market surged, surpassing the 3800-point mark, with the semiconductor equipment ETF (561980) increasing by 8.58%, peaking at over 9% [1] - The trading volume showed significant activity, with a turnover rate of 21.09% and a transaction value exceeding 1.9 billion, representing a 105.10% increase compared to the previous day [1] Company Developments - DeepSeek announced the release of DeepSeek-V3.1 on August 21, which utilizes UE8M0 FP8 Scale parameters, indicating a focus on the upcoming generation of domestic chip designs [1] - The advancements in DeepSeek's model suggest a potential increase in the application of domestic AI chips, contributing to the acceleration of the domestic computing power ecosystem [1] Industry Insights - According to Zheshang Securities, the demand for domestic AI chips is expected to grow, driven by the growth of the AI cloud server industry and the increasing demand for domestic chip localization from local cloud providers [1] - Open Source Securities noted that China's AI chip industry is thriving, with continuous product iterations from companies like Huawei and Cambrian, indicating that domestic computing chips have achieved a level of technological self-sufficiency [1]

Group 1 - The Sci-Tech Innovation Index (000680) has seen a strong increase of 4.54%, with constituent stocks such as Haiguang Information (688041) and Yuntian Lifeng (688343) both rising by 20.00% [1] - The Taikang SSE Sci-Tech Innovation Board Composite Index Enhanced A (023970) achieved a weekly return of 5.92%, ranking first among enhanced products of the Sci-Tech Innovation Index [1] - The DeepSeek model has been updated to version 3.1, now supporting FP8 precision and domestic chips, which is expected to accelerate the domestic computing power ecosystem [1] Group 2 - Companies like Huawei and Cambrian are expanding their market competitiveness in the domestic chip sector, with Huawei's Ascend chips being increasingly applied in government and financial sectors [1] - Other domestic AI chip manufacturers are also showing accelerated penetration, with Muxi providing N-series GPUs focused on cloud AI inference scenarios [1] - There is a recommendation to pay attention to the related industrial chain benefiting from the domestic AI chip localization [1]

| 品 日 | 最新, | 涨幅↓ | 涨跌 | | --- | --- | --- | --- | | 海光信息 | 186.06 | 20.00% | 31.01 | | 688041 科创 闘 | | | | | 盛美上海 | 142.21 | 20.00% | 23.70 | | 688082 科创 融 | | | | | 寒武纪-U | 1229.57 | 18.68% | 193.57 | | 688256 科创 闘 | | | | | 盛科通信-U | 131.48 | 14.10% | 16.25 | | 688702 科创 盟 | | | | | 景嘉微 | 89.86 | 11.82% | 9.50 | | 300474 點 | | | | | 中态国际 | 101.05 | 10.98% | 10.00 | | 688981 科创 闘 | | | | | 中科飞测 | 101.89 | 10.92% | 10.03 | | 688361 科创 融 | | | | | 芯息股份 | 153.00 | 10.23% | 14.20 | | 688521 科创 韶 | | | | | 兆易创新 ...

8月18日，中国移动50亿AI服务器集采结果落地，总规模达51.12亿元。中兴通讯、河南昆仑技术、华鲲 振宇成为前三中标企业。本次采购重点聚焦推理场景，所采设备均用于AI推理。值得注意的是，支持 华为昇腾"CANN生态"的标包占据绝对主体，无论是采购金额还是设备数量占比均约七成。这一结果凸 显国产算力生态在通信基础设施中正发挥日益重要的作用。 8月22日，A股市场AI算力板块迎来全线爆发，多只个股创下历史新高。截止发稿，寒武纪股价突破 1,200元，总市值超5,000亿元。中科曙光10%涨停，总市值超1,200亿元；海光信息20%涨停，总市值超 4,300亿元。 与此同时，寒武纪作为AI算力龙头，其业绩的改善也对资本市场起到了推动作用。寒武纪2025年第一 季度营收11.11亿元，同比增长42倍，首次实现单季盈利3.55亿元，业绩爆发源于云端产品线的高速增 长。同时，公司39.85亿元定增方案获上交所审核通过，待证监会注册后即可实施，用于大模型芯片平 台研发。 这场资本盛宴的背后，是技术突破、产业政策与地缘政治因素共同催化的结果。8月21日，DeepSeek正 式发布DeepSeek-V3.1模型，采用混合推 ...

Core Viewpoint - The domestic chip sector is experiencing a surge, with significant gains in stocks such as Cambricon and others, driven by increasing support for domestic AI chips and their integration into various industries [1]. Group 1: Market Performance - Cambricon shares rose over 12%, while Hangjin Technology and Zhongke Shuguang reached their daily limit [1]. - The domestic computing power sector is seeing intensive catalysts, as indicated by the performance of these stocks [1]. Group 2: Industry Insights - CITIC Securities highlighted that Tencent's earnings call revealed multiple supply channel options for inference chips, suggesting that domestic inference computing power chips could provide support amid international supply chain fluctuations [1]. - DeepSeek updated its model to support FP8 precision and the upcoming next-generation domestic chips, indicating a positive outlook for the domestic chip ecosystem [1]. - Huawei's Ascend chips are increasingly participating in tenders across government, finance, and telecommunications sectors, demonstrating the growing competitiveness of domestic chips [1]. Group 3: Competitive Landscape - Huaxin Securities noted that besides Cambricon, Haiguang Information, and Huawei, other domestic AI chip manufacturers are also accelerating their market penetration [1]. - There is a recommendation to pay attention to the related industrial chain benefiting from the localization of AI chips [1].