面对每天上千份上市公司公告该看哪些？重大事项公告动辄几十页几百页重点是啥？公告里 一堆专业术语不知道算利好还是利空？请看智通财经公司新闻部《速读公告》栏目，我们派 驻全国的记者们将于公告当晚为您带来准确、快速、专业的解读。 智通财经12月17日讯（记者 方彦博）连年亏损的局面下，曾经的"高端家居第一股"美克家居 （600337.SH）抛出跨界收购计划。 双方在协议中约定，本次增资万德溙的投前估值为3亿元，露笑科技增资完成后万德溙估值为3.6亿元。 万德溙承诺，在2025年度-2027年度，公司经审计合并报表扣除非经常性损益前后孰低净利润分别为 3000万元、4000万元、5000万元，双方还就上述约定签订了业绩差额补偿及股权回购协议。 值得注意的是，双方在增资协议中约定，若万德溙光电发展达到预期，露笑科技"可能对其控股权进行 收购"。 根据公告，若万德溙2025年1-6月母公司合并报表，扣除非经常性损益前后孰低净利润达到1500万元以 上，或2025年度业绩达到协议约定相应年度的承诺业绩，露笑科技有权（但无义务）按照约定通过增资 或者受让原股东股权的方式成为万德溙的控股股东。增资或者股权受让价格为投前估值不低 ...

| | | 分制 修日 1分 5分 15分 30分 60分 日 周 月 · | | | | | F9 盘前盘后 叠加 九材 面线 工具 @ 2 > | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 0.066 | | | | 159131 [精股值费技术ETF] 1327 价 0.909 落款 -0.027(-2.88%) 均价 0.915 威交量 0 IDPV 0.9059 | | | | | ■ [] 9119 -0.027 -2.88% | | | | | | | | | | | | | 净值走势 | SZSE CNY 13:27:51 交易中 查看L2全覆 非室中证准胶滑低电技术综合ETF | | | 0.951 | | | | | | | | 1.624 | | | | | | | | | | | | | | 图化 | -5.12% 發現 | -6690 | | 0.936 | | | | | | | | 0.00% | 型在 | 0.913 | 6945 | | | | | | ...

H200 芯片大消息，算力产业链迎风口 20251211 摘要 英伟达 H200 芯片解除部分限售，虽可能影响美国企业收入，但强化了 中国发展国产算力芯片的必要性，国产替代趋势不变。 消费电子板块与 AR 硬件紧密绑定，AR 技术突破需硬件和软件应用场景 同步发展，以解决算力产业链闭环问题，对消费电子产业链产生影响。 光伏技术突破带动产业链上涨，但锂电池产业链受新能源汽车销量放缓 影响表现不佳，11 月销量增速仅为 4%-5%。固态电池大规模量产仍需 时日。 大型银行因分红推动表现强势，高股息率资产受关注。红利资产年内波 动显著，受降息预期和政策变化影响，未来走势需关注时间和空间维度。 市场板块表现分化，科技板块强势，前期强势板块走弱。创业板指四连 阳，新经济领域如人工智能和先进制造展现潜力。 监管层扶优限劣，允许优质券商适度加杠杆，大型券商资本杠杆率较高， 加杠杆空间显著，需关注细分政策落地。 券商行业估值快速回落，业绩逐步增长，但股价维持低位。低估值和业 绩弹性是券商板块未来主要逻辑。市场短期顶部盘整，偏多思维看待沪 指回落。 近期市场表现如何？哪些板块表现较为突出？ 近期市场表现相对弱势，超过 4,00 ...

隆湫资本此前已积极布局新能源汽车产业链，已投资了聚焦新能源汽车和自动驾驶关键领域的智能线控 底盘系统方案商利氪科技。隆湫资本将继续发挥管理人投资管理能力，锚定链主企业，发掘并投资新能 源汽车产业链关键赛道中的优质项目，致力于为投资人创造长期价值，赋能区域产业升级。 隆湫资本认为："新能源汽车产业从电动化的上半场迈向智能化、网联化的下半场，产业链正在发生深 刻重构，新能源汽车产业已进入技术迭代与全球化共振的关键阶段，核心零部件进口替代、智能化升 级、产业链全球化等结构性机遇正在加速显现。" 来源：隆湫资本 隆湫资本是一家深耕苏锡常区域，围绕链主聚焦产业链投资的私募股权机构。我们发掘并投资具有原创 技术、爆发式成长潜力和可持续竞争力的科技企业，重点布局人工智能、新能源汽车、算力产业链等关 键领域。隆湫资本秉承"投后服务前置"、"长期战略陪跑"的理念，携手产业LP、链主企业等合作伙伴深 度赋能被投企业，共同陪跑明天的科技巨人。 投资界12月11日消息，近日，隆湫资本完成新一期人民币基金的首关，基金规模达7.5亿元，基金将重 点投向新能源汽车产业链的核心环节，包括车身系统、底盘系统、智能控制系统等细分领域。本基金获 ...

Core Viewpoint - Despite the termination of the restructuring, Haiguang and Sugon will deepen their collaboration while maintaining the independence of the listed company [1] Group 1: Company Collaboration - Haiguang focuses on CPU and DCU chips and has established a leading position in core chips in China [1] - Sugon specializes in interconnection, networking, scheduling, software, computing services, storage, and liquid cooling, holding a leading position domestically [1] - Both companies aim to build a complete computing power industry chain through collaboration, focusing on integrated computing infrastructure and high-end chip design [1]

Investment Rating - The report indicates a focus on the commercial aerospace and computing power industry chain, suggesting a positive outlook for these sectors [3]. Core Insights - The market showed significant differentiation, with technology growth leading while cyclical consumption faced pressure. The computing power hardware sector, particularly influenced by the news of NVIDIA being allowed to sell H200 chips to China, demonstrated resilience [3]. - The North Exchange market, primarily composed of specialized and innovative enterprises, has not directly benefited from the influx of funds into the computing power sector but still exhibited some anti-dip characteristics among tech-heavy stocks [3]. - The current valuation of the North Exchange 50 Index is at a low percentile compared to the past year, indicating a release of valuation pressure [3]. - Policy expectations are rising towards the end of the year, with a focus on stable progress and proactive fiscal measures, which may enhance market liquidity in the medium to long term [3]. Market Review - On December 9, the North Exchange A-share trading volume reached 139.2 billion, a decrease of 11.8 billion from the previous trading day. The North Exchange 50 Index closed at 1401.73, down 1.72%, with a PE_TTM of 66.35 times. The specialized and innovative index closed at 2343.91, down 1.48% [8][3]. - Among 286 companies on the North Exchange, 28 saw an increase, 1 remained flat, and 257 experienced a decline. The top five gainers included Dapeng Industrial (10.1%), Caneng Electric (5.5%), and Fangsheng Co. (5.2%), while the top five losers included Kangle Weishi (-7.5%) and Airong Software (-5.5%) [18][19]. Important News - The U.S. government has allowed NVIDIA to sell its H200 AI chips to China, imposing a 25% fee per chip, marking a significant policy shift [21]. - Demand for MLCCs is expected to grow at an annual rate of 30%, driven by AI applications, with major manufacturers like Murata and Samsung planning to expand production capacity [22].

今天上午，算力龙头股表现引人关注。 一是成交额大、股价涨势显著。中际旭创、胜宏科技、新易盛、工业富联上午均大涨，成交额居A股前四位。 今天上午，算力产业链继续上涨，光模块、铜缆高速连接、液冷服务器等板块上涨。德科立、陕西华达、致尚科技等个股大涨。 | | | 3716.46 2.07% | 共封装光学 (CPO) ► ｜ こ | | | --- | --- | --- | --- | --- | | 成分股 | 基金 | 资金 | 板块分析 | 新闻 | | 5展开分析 | | 最新 | 涨幅 → | 流通市值 | | 德科立 融 688205 | | 165.02 | 20.00% | 261亿 | | 首板涨停 最终涨停 10:31 | | | | | | 陕西华达 融 301517 | | 61.39 | 17.36% | 60.3亿 | | 最终涨停09:43 | | | | | | 奕东电子 | 47.80 | 10.88% | 78.9亿 | | --- | --- | --- | --- | | 融 301123 | | | | | 生益电子 | 107.17 | 10.22% | 891亿 | ...

一、ETF行业快讯1.三大指数集体上涨，通信设备ETF领涨 今日，三大指数集体上涨，上证综指上涨0.54%，深证成指上涨1.39%，创业板指上涨2.6%。多只通信 板块ETF上涨，其中，通信设备ETF（159583.SZ）上涨5.65%，创业板人工智能ETF大成（159242.SZ） 上涨5.56%，创业板人工智能ETF国泰（159388.SZ）上涨5.51%。食品饮料板块多只ETF下跌，酒ETF （512690.SH）下跌1.07%，食品ETF（159862.SZ）下跌0.91%，消费ETF南方（159689.SZ）下跌 0.91%。 天风证券指出，市场近期处于震荡，我们仍坚定看好算力产业链核心标的的投资机会。其中，海外算力 产业链高景气度依旧，相关公司财报持续体现AI相关需求的高景气，相关产业链的基本面共振更强。 国内方面，后续伴随着国产算力持续发展，大厂如阿里、字节等对于AI的持续投资，仍然看好AI行业 以及围绕AIDC产业链的持续高景气。整体上我们积极看好2025年或成为国内AI基础设施竞赛元年以及 应用开花结果之年。中美AI均进展不断，同时推理端持续推进。建议持续关注AI产业动态及AI应用的 投资机 ...

12月8日周一，A股AI科技板块强势拉升，光模块CPO、光通信、光电路交换机、光芯片等概念领涨市 场，天孚通信涨超17%，太辰光、联特科技、中际旭创、光库科技、新易盛等跟涨。受权重板块带动， 截至10：22，创业板人工智能ETF华夏（159381）涨超5%，5G通信ETF（515050）涨超4%。 值得注意的是，资金加速流入高景气板块，近20日，同类费率最低的创业板人工智能ETF华夏 （159381）累计吸金超2.28亿元。该ETF跟踪指数"创业板人工智能指数"，光模块CPO权重占比56.7%， 同时覆盖国产软件+AI应用企业，具备较高弹性。其中前三大权重股为中际旭创（26.62%）、新易盛 （19.35%）、天孚通信（5.05%）。场内综合费率仅0.20%，位居同类最低。场外联接（A类：025505； C类：025506）。 算力产业链正处于高景气周期，爆发式增长的算力需求正面临光模块产业链的供给瓶颈。国盛证券表 示，光模块新一轮产能集中释放，业绩打开增长空间。预计2026年一季度将迎来产能集中释放，业绩持 续爬坡的关键窗口。从业绩爬坡节奏看，光模块行业将经历从"产能释放"到"业绩兑现"的渐进过程。初 期可 ...

Core Viewpoint - The article highlights a significant rise in A-shares, with over 3,500 stocks increasing in value, driven by four main sectors: computing power industry chain, electric power infrastructure industry chain, commercial aerospace, and non-ferrous metals. Notably, the stock of Moore Threads surged by 416.79%, reaching a market capitalization of 277.6 billion yuan, making it the only stock with a half-day trading volume exceeding 10 billion yuan, totaling 12.59 billion yuan [2][4]. Group 1: Computing Power Industry Chain - The computing power industry chain saw notable gains, particularly in sectors like optical modules and copper cables, with stocks such as Zhishang Technology and Dongtian Micro experiencing significant increases [6]. - Key stocks in this sector included Zhishang Technology, which reached a 20% increase, and Changguang Huaxin, also hitting a 20% increase, with respective market capitalizations of 6.65 billion yuan and 22.7 billion yuan [7]. - Marvell's acquisition of Celestial AI for $3.25 billion, including $1 billion in cash and $2.25 billion in stock, highlights the growing importance of photonic technology in addressing data transmission bottlenecks in data centers [8][9]. Group 2: Commercial Aerospace - The commercial aerospace sector experienced a strong rally, with stocks like Hongxiang Co., Changguang Huaxin, and Chaojie Co. hitting the daily limit of 20% [12]. - The successful launch of the Zhuque-3 rocket and the upcoming 2025 Satellite Internet Industry Ecosystem Conference in Shanghai indicate a growing focus on commercial aerospace advancements [14][15]. - The number of commercial aerospace companies in China has surpassed 600, with significant projects expected to commence during the 14th Five-Year Plan period, including manned lunar missions and satellite internet construction [15].