2026年喜迎"开门红"，三大指数集体走高！国产半导体设备龙头厂商中微公司复牌大涨12.70%，北方华创、拓荆科技、华海清科等多家设备公司联 袂走强，上海新阳涨超12%，中芯国际、珂玛科技等涨超4%。 浙商证券认为，2025年半导体设备指数显著跑赢大盘，当前估值处于28%分位点。其中前道设备营收持续高增长，利润增速结构性放缓；后道设备 迎来爆发式增长，净利率显著提升，行业呈现高景气态势。 展望2026年中国半导体设备市场，国内晶圆厂产能利用率回升扩产意愿强烈，AI驱动存储超级周期，国内先进逻辑&存储扩产有望共振，叠加自主 可控逻辑下国产化率继续提升，有望带动设备需求向上。 根据东莞证券，存储芯片为集成电路第二大细分品类，占集成电路比重约30%。从产业链角度来看，存储芯片目前是上游半导体设备空间较大的下 游领域之一。 2024年以来，受益AI驱动DDR5 RDIMM、eSSD等高性能存储产品需求增长，全球存储行业进入新一轮上行周期，9月以来DRAM、NAND价格全 面上涨，中银证券预计存储价格上涨趋势或将贯穿2026年全年。 东莞证券指出，随着DRAM、NAND架构向3D化方向发展，会显著提升刻蚀、薄膜沉积设备 ...

新年开门红！1月5日，重点布局国产AI产业链的科创人工智能ETF华宝（589520）场内价格盘中大涨3%，近7个交易日中，有6个交易日上涨，日k线或已 走出"上行台阶"。 东吴证券表示，2026年将迎来国产算力与AI终端的全面共振。云端方面，国产GPU及AI ASIC产能释放，长鑫存储及先进制程扩产将惠及产业链。端侧方 面，AI眼镜等新终端开启创新元年，混合架构与架构优化推动场景落地。同时，3D DRAM作为关键存力将在多领域放量，高端PCB材料与芯片供电需求激 增，共同催化半导体及硬件产业链进入新一轮高景气周期。 值得关注的是，科创人工智能ETF（589520）标的指数均衡配置应用软件、终端应用、终端芯片、云端芯片四大环节，AI产业链正由云端向边缘侧发展，从 依赖海外技术向自主可控发展，科创人工智能方向契合AI产业链当下现状，或具备更大潜力。 【国产替代之光，科创自立自强】 | 序号 | 名称 | 涨跌幅 ▼ | 两日图 | 申万一级行业 | 申万二级行业 | 申万三级行业 | 总市值 | 成交额 | | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Group 1: Market Performance - The Huabao AI ETF (589520) experienced a significant increase of 3% on January 5, marking a strong start to the year, with 6 out of the last 7 trading days showing gains, indicating a potential upward trend [1][8] - Key constituent stocks such as Yookeda surged over 7%, while Lanke Technology and Tianzhun Technology rose nearly 7% and over 5% respectively, reflecting strong performance in the AI sector [3][11] Group 2: Industry Insights - The upcoming International Consumer Electronics Show (CES) from January 6 to 9 is expected to highlight major developments, including NVIDIA's potential entry into the AIPC market and advancements in AI glasses technology [5][10] - The Chinese government has announced a large-scale equipment update and consumer goods replacement policy for 2026, which includes AI glasses in the subsidy list, indicating strong policy support for this segment [5][10] Group 3: Investment Opportunities - The Huabao AI ETF focuses on the domestic AI industry chain, with a significant portion of its investments in semiconductors, which account for over half of its top holdings, suggesting a strong offensive strategy [6][12] - The ETF's index is designed to balance investments across application software, terminal applications, terminal chips, and cloud chips, aligning with the current trend of shifting from cloud to edge computing and promoting self-sufficiency in technology [12]

基金公告显示，天弘上证科创板芯片设计主题交易型开放式指数证券投资基金（场内简称：科创芯片设计ETF天弘，认购代 码：589073，基金代码：589070）于今日（1月5日）正式发行！ 【产品亮点】 科创芯片设计ETF天弘(589070)紧密跟踪上证科创板芯片设计主题指数，一键跟踪芯片设计领域优质上市公司。选取科创板内业 务涉及芯片设计领域的上市公司证券作为指数样本，以反映科创板芯片设计领域上市公司证券的整体表现。 【更多产品】 | 乙 宽基 | | | | --- | --- | --- | | 159977 | 创业板ETF天弘 | 创业板 | | 589860 | 科创综指ETF天弘 | 科创板 | | 159360 | 中证A500ETF天弘 | A股风向标 | | 网 行业 | | | | 520920 | 恒生科技ETF天弘 Andred PLPT of a Landon annon annon annon annual proven | T0+港股科技 Salandon 17 17 17 | 【热点事件】 创新赋能高质量发展，国产芯片研发与产业规模双突破 二〇二六年新年贺词强调，我们依靠创新为高质 ...

2026年第一个交易日，国产半导体设备龙头厂商中微公司复牌大涨12.70%，北方华创、拓荆科技、华海清科等多家设备公司联袂走强。半导体设 备ETF（561980）开盘高开涨超3%，目前涨4.51%，实时成交额超1.3亿元，连续5个交易日吸金超2.2亿元。 | 半导体设备ETF | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 561980.SH | | | | | | | | 2.130 | | BEIN | 2.038 | 开盘 | | 2.070 | | 4.51% +0.092 | | 流通常 | 12.5亿 | 流通值 | | 26.61Z | | 最 高 2.131 | | 成交量 | 66.17万 | 换字率 | | 5.29% | | 最 低 2.061 | | 成交额 | 1.39 Z | 均价 | | 2.102 | | IOPV 2.1313 | 升贴水率 4.70% | 溢折率 | -0.06% | | | | | 净值走势 招商中证半导体产业ETF(5... 2.0343 | | | | | | -0.93% | | ...

截至2026年1月5日 09:39，芯片ETF天弘(159310)成交466.72万元。跟踪的中证芯片产业指数(H30007)强势上涨2.35%，成分股江 波龙(301308)上涨7.42%，兆易创新(603986)上涨6.68%，中微公司(688012)上涨6.63%，佰维存储(688525)，北京君正(300223)等 个股跟涨。 电子ETF(159997)成交1042.83万元。跟踪的中证电子指数(930652)强势上涨2.02%，成分股蓝思科技(300433)上涨7.96%，江波龙 (301308)上涨7.42%，兆易创新(603986)上涨6.68%，中微公司(688012)，佰维存储(688525)等个股跟涨。 【产品亮点】 二〇二六年新年贺词强调，我们依靠创新为高质量发展赋能。科技与产业深度融合，创新成果竞相涌现，人工智能大模型你追 我赶，芯片自主研发有了新突破，我国成为创新力上升最快的经济体之一。 2、百度启动分拆，昆仑芯赴港独立上市冲刺AI芯片赛道 1月2日，百度集团发布公告披露，计划分拆旗下AI芯片子公司昆仑芯（北京）科技股份有限公司，并以保密形式向香港联合交 易所提交上市申请，谋求主板独 ...

行业分析认为，若交易顺利完成，紫光国微将通过整合在功率半导体领域拥有全球市场地位和制造 能力的瑞能半导体， 实现构建"设计+制造"的完整产业链，并将牢牢抓住汽车电子、工业控制等关 键领域的国产化机遇，改变中国功率半导体市场的竞争格局。 此外，本次交易也折射出新紫光集 团加速半导体全产业链整合的战略动向。 2025年12月30日，新紫光集团旗下紫光国微发布重大资产重组公告，拟通过发行股份及支 付现金方式收购瑞能半导体控股权或全部股权，并同步募集配套资金。 中国工程院院士丁荣军曾强调， 功率半导体是保障能源革命推进与国家产业安全的核心关键， 是 中国半导体自主突围的核心抓手。而瑞能半导体，作为 中资控股 下的功率半导体企业，不仅继承 了欧洲老牌半导体产业的深厚技术积淀，也在过去十年间完成了精准的赛道布局，使其在功率半导 体领域形成独特竞争力。 | 证券代码:002049 | 证券简称:紫光国微 | 公告编号:2025-108 | | --- | --- | --- | | 债券代码:127038 | 债券简称:国微转债 | | 设计+制造：强强联手的产业链协同 瑞能半导体前身为恩智浦半导体标准产品事业部，2015 ...

Group 1 - The semiconductor industry is expected to see significant growth, with chip design, semiconductor equipment, and materials projected to rise by 62.38%, 60.86%, and 37.31% respectively by 2025 [2] - The semiconductor theme index, focusing on the aforementioned three sectors, is anticipated to achieve a growth rate of 62.33% in 2025, with the semiconductor equipment ETF (561980) experiencing a net inflow of over 220 million yuan in the last five trading days [2] - The demand for semiconductor equipment is driven by advancements in AI and domestic substitution, particularly in the storage chip sector, which is reshaping the global pricing cycle [4][5] Group 2 - The storage chip segment accounts for approximately 30% of the integrated circuit market, making it a significant area for semiconductor equipment demand [5] - The global storage industry is entering a new upcycle, with DRAM and NAND prices rising since September 2024, and this trend is expected to continue through 2026 [5] - The shift towards 3D architecture in DRAM and NAND is projected to increase the service market for related equipment by approximately 1.7 times and 1.8 times respectively [6] Group 3 - The semiconductor equipment ETF (561980) tracks the CSI semiconductor index, which has a high concentration of leading companies in the semiconductor supply chain, with the top five companies accounting for over 50% of the index [6][8] - The CSI semiconductor index has shown a maximum increase of over 570% since the last upcycle, with a notable 63.92% increase in 2025, outperforming other semiconductor indices [7][8] - The high concentration of equipment, materials, and design sectors in the CSI semiconductor index indicates a strong potential for domestic substitution and ongoing market and policy support [8]

Core Viewpoint - TianShu ZhiXin, a leading domestic general-purpose GPU company, has officially launched its IPO on the Hong Kong Stock Exchange, aiming to raise HKD 37 billion with an issue price of HKD 144.6, marking a significant milestone in the capital market for general-purpose GPU companies in China [1] Group 1: Technical Strength - The company focuses on self-research and development of core GPU technologies, achieving four architecture iterations since its establishment in 2018, and has made several industry breakthroughs [2] - Utilizing advanced 7nm technology, the company has developed the "TianYuan" training series and "ZhiKai" inference series products, with the TianYuan Gen3 supporting large models with over 10 billion parameters [2] - R&D expenditure increased from CNY 457 million in 2022 to CNY 773 million in 2024, accounting for over 140% of annual revenue, with a team of over 480 members, one-third of whom have over ten years of industry experience [2] Group 2: Product Delivery - The company has achieved large-scale production and delivery of general-purpose GPUs, with over 52,000 units delivered by June 2025, covering more than 20 industries [3] - The number of clients has grown from 22 in 2022 to over 290 by June 2025, with a compound annual growth rate of 68.8% in revenue from 2022 to 2024 [3] - The gross margin has consistently remained around 50%, indicating strong pricing power for its products [3] Group 3: Ecosystem Development - TianShu ZhiXin is recognized as the "most open domestic general-purpose GPU company," supporting major Linux distributions and achieving compatibility with leading CPU manufacturers and cloud service providers [4] - The company has established the DeepSpark open-source community, attracting numerous developers and providing a multi-dimensional evaluation system for application algorithms [4] Group 4: Capital and Market Potential - The IPO is a crucial step for the company, with 80% of the net proceeds allocated for product and solution R&D, and 10% each for sales and operational funds [5] - The domestic general-purpose GPU market is expected to reach CNY 154.6 billion in 2024 and grow to CNY 715.3 billion by 2029, with domestic manufacturers projected to capture over 50% market share [5] - The company aims to leverage its comprehensive competitive advantages to expand its market share in the trillion-yuan replacement market, transitioning from a follower to a leader in the industry [5]

SEMI(国际半导体设备与材料协会)预测，2025年全球半导体制造设备市场规模将再创新高，同比增长 13.7%至1,330亿美元。在AI和HBM需求的推动下，2026年半导体制造设备市场规模将再度增长至1,450 亿美元。内地储存大厂扩产加速，国产设备在核心工艺环节迎来机遇，份额提升预期增强。 银河证券发布半导体行业研报称，内地模拟芯片设计板块逐渐结束沉寂，多家海外龙头释放涨价信号。 同时，AI服务器电源芯片和高阶智驾芯片等需求爆发，行业或将迎来周期性反转。 【今日头条】 半导体板块受益于产业链涨价潮 【大势展望】 中国银河证券指，2025年12月半导体板块在产业链涨价潮、AI需求持续以及国产替代逻辑强化的共同 驱动下，走出一轮结构性行情。在外部环境背景下，供应链安全与自主可控是长期趋势。设备与材料在 国产替代顶层设计下逻辑最硬，数字芯片是算力自主的核心载体，先进封测受益于技术升级。半导体板 块涉及港股中芯国际(00981)、华虹半导体(01347)、百度集团-SW昆仑芯(09888)、上海复旦(01385)、壁 仞科技(06082)、英诺赛科(02577)等。 黄仁勋将在北京时间1月6日凌晨举行主题演讲 W ...