Group 1 - The software ETF has a turnover rate of 2.69% during trading, with a transaction volume of 77.95 million yuan, and ranks first in average daily trading volume among comparable funds over the past month at 169 million yuan [3] - The software ETF has seen a significant growth in scale, with an increase of 26.5 million yuan over the past week, also ranking first among comparable funds [3] - The latest financing buy-in amount for the software ETF reached 9.11 million yuan, with a financing balance of 115 million yuan [3] Group 2 - The Ministry of Industry and Information Technology reported that the software industry in China had a good operational performance in the first four months of 2025, with software business revenue reaching 42.582 billion yuan (a year-on-year increase of 10.8%), total profit of 5.075 billion yuan (up 14.2% year-on-year), and export value of 17.26 billion USD (up 3.5% year-on-year) [3] - The Ministry of Industry and Information Technology aims to accelerate the development of open-source infrastructure, particularly in basic software and industrial software, with 97% of global developers and 99% of enterprises already using open-source software [3] - Citic Securities indicates that external supply chain disruptions may continue, and the development of domestic innovation is both urgent and certain [3] - Dongguan Securities notes that the domestic replacement rate in key basic software areas such as databases and operating systems is still low, with a significant gap from the goal of 100% replacement by 2027, suggesting that the pace of domestic replacement is expected to accelerate as the deadline approaches, indicating a broad market space [3] Group 3 - As of May 30, 2025, the top ten weighted stocks in the CSI Software Service Index include iFlytek, Kingsoft Office, Tonghuashun, Runhe Software, Hengsheng Electronics, 360, Softcom Power, Tuo Wei Information, Yonyou Network, and China Software, collectively accounting for 59.85% of the index [4] - Investors can also access AI software investment opportunities through the software ETF linked fund (012620) [4]

6月5日晚，国科微发布了详细的交易预案，上市公司拟以发行股份及支付现金等方式收购中芯集成电路 （宁波）有限公司（简称"中芯宁波"，标的公司）94.366%的股权。 据了解，中芯宁波系为配合当地产业发展战略，于2016年由当地产投基金、中芯国际等多方联合成立。 中芯宁波股东——也是此次交易的股权转让方，包括了宁波甬芯、宁波经开区产投、宁波金帆三家宁波 当地的国资机构。中芯宁波在中芯国际集团内部的位置，是作为重要联营企业而存在。 公司专注于射频前端、MEMS传感器、高压模拟等特种工艺技术，是国内少数实现量产制造BAW滤波 器的厂商，属于半导体特种工艺晶圆制造领域具备技术稀缺性的优质标的。 据悉，滤波器是射频前端的核心器件，提供手机无线通信功能，技术研发难度较高。中芯宁波产品在手 机端的成功搭载，标志着已打破海外厂商在滤波器制造领域的工艺垄断，有望破解我国通信芯片行业长 期面临的"卡脖子"问题。 从基本面来看，中芯宁波未经审计的主要财务数据显示，截止今年一季度，公司总资产规模达45.18亿 元，所有者权益达15.67亿元。但是，中芯宁波因多种原因，导致公司报告期内存在较大规模亏损。 2024年中芯宁波全年的净利润为 ...

导读： 钢研纳克接受机构调研，介绍全国检测基地布局及服务覆盖能力，分享仪器业务优势及未来发展方向，强调检测与仪器业务的 增长动力及股东回报政策。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 钢研纳克5月29日发布投资者关系活动记录表，公司于2025年5月29日接受2家机构调研，机构类型为基金公司、证 券 公 司 。 钢 研 纳 克 获 2 家 机 构 调 研 ： 公 司 根 据 客 户 分 布 特 点 进 行 了 全 国 检 测 基 地 布 局 工 作 ， 目 前 各 大 检 测 基 地 （ 北 京、昆山、成都、沈阳、青岛、西安、涿州、株洲）的服务覆盖能力可以较好地满足客户需求。 一、公司介绍 公司是专业从事金属材料检测技术的研究、开发和应用的创新型企业。 目前公司提供的主要服务或产品包括检测服务、检测分析仪器、标准物质/标准样品、能力验证服务、腐蚀防护工程与 产品，以及其他检测延伸服务。公司的服务和产品主要应用于钢铁、冶金、有色、机械、航空航天、高铁、核电、汽 车、新材料、环境、食品、石化等领域。 公司在国内金属材料检测领域具有较高的 ...

出品：新浪财经创投Plus 编辑整理：shu 基于公开数据不完全统计，2025年5月境内新增登记私募股权、创业投资基金管理人只有2家，较4月骤降83.3%，与2024年5月相比减少60%；新增备案私募 股权投资基金、创业投资基金合计339只，同比增长55.5%，环比下降18.7%。 国内一级股权投资市场共发生428起融资事件，同比、环比分别减少13.6%、18.0%；披露总融资额约182.33亿元，与2024年5月基本持平，较2025年3月缩水 21.5%；平均单笔融资额约4290.04万元，创下近五个月内最低点。 结合中国证券投资基金业协会、天眼查和官方网站公开披露的信息显示，毅达资本是江苏省人民政府出资设立的江苏高科技投资集团旗下管理机构，目前管 理资本规模超1200亿元。其投资阶段覆盖天使期、初创期、成长期和成熟期，投资领域包括清洁技术、健康产业、新材料、先进制造、消费服务、文化产业 和TMT行业。 机构加速出清，叠加五一、端午假期影响，募投端均呈现量价齐跌的趋势。新浪财经创投Plus本月聚焦市场活跃度较高的3家机构，围绕其投资节奏、阶 段、行业偏好以及被投项目等方面展开解读。 两只马鞍山产业基金共募2 ...

一帆风正劲，关键材料国产化正当时 20250605 摘要 中国关键材料国产化取得显著进展，尤其在碳纤维、高性能工程塑料和 部分半导体材料领域，受益于国家战略支持、企业研发投入增加以及上 下游协同机制的建立。高端碳纤维、五大工程塑料以及部分特种工程塑 料已实现国产化，半导体材料如化学机械抛光液和碳化硅衬底也取得突 破。 半导体光刻胶市场中，中国已成为全球最大市场，2024 年市场规模达 7.7 亿美元，同比增长 16%，其中大陆市场增速高达 42%。KrF、L&F 和 EUV 光刻胶需求快速增长，但国产化面临配方调试、测试认证以及下 游客户替换意愿不强等多重挑战。 陶瓷基板材料主要应用于新能源汽车、LED 灯等领域，氮化硅与氮化铝 白板市场规模预计到 2031 年将超过 10 亿美元。国内企业数量较多但 一体化程度较低，国瓷公司通过收购赛创具备一体化优势，未来在低轨 卫星和智能驾驶激光雷达领域具有增长潜力。 环氧塑封料市场由外资企业垄断，但国内企业如华宇成科等正逐步突破 技术瓶颈。随着先进封装技术的发展，对环氧塑封料的性能要求日益提 高，AI 技术产业的发展将推动先进封装及相关材料的快速增长。 Q&A 近年来， ...

惠科股份的上市之路并非一帆风顺。该公司曾于2022年正式申请在深交所创业板上市，计划募集资金高 达95亿元人民币，引发市场广泛关注。然而，事隔一年后，惠科股份于2023年8月主动撤回了IPO申 请，原因未予详细披露。此次完成辅导，标志着惠科股份在2024年重启上市计划后迈出了坚实一步，为 后续正式提交招股说明书奠定了基础。 国内半导体显示领域重要厂商惠科股份有限公司（以下简称"惠科股份"）的上市进程取得关键进展。据 证监会最新披露文件显示，惠科股份已顺利完成首次公开发行股票（IPO）的上市辅导工作。 辅导机构中国国际金融股份有限公司（中金公司）在提交的辅导工作总结报告中指出，经过系统辅导， 惠科股份已建立起符合上市要求的公司治理结构、规范的会计基础工作和有效的内部控制制度，并对多 层次资本市场的特点有了充分理解。公司董事、监事、高级管理人员及主要股东、实际控制人等关键主 体，均已全面掌握相关法律法规，明确了信息披露责任和义务，树立了进入资本市场的诚信与法治意 识。 坎坷上市路终见曙光 惠科股份的发展步伐并未停歇。据不完全统计，自2024年初至今，公司宣布或推进中的重大项目投资总 额预计已超过500亿元人民币。 ...

截至6月6日，中国石油华北油田储气库群本周期注气超10亿立方米，较2024年同期增加7%，为今冬明 春京津冀地区天然气调峰保供蓄足"底气"。 储气库作为天然气调峰的重要设施，在保障区域冬季用气安全方面发挥着核心作用，其库存的多少直接 关系到天然气调峰保供能力的强弱。本周期注气工作开始以来，华北油田锚定"31.8亿方工作气能力"目 标，科学践行"大注采"模式，精细实施强驱、平压、缓注的技术对策，深入挖掘在役库群的生产潜能， 全面提升储气库运行效率。同时，以顾辛庄、文23储气库为新增长点，强力推进扩容增气工程建设，加 快提升注采气规模。此外，国内首台（套）兆瓦级天然气压差发电项目同期投运，累计发电逾750万千 瓦时，相当于节约标煤2200余吨，减少二氧化碳排放超7500吨，有效降低企业购电成本的同时，也为油 田天然气产业的绿色发展注入了强劲动力。 储气库的安全平稳运行直接关系到国家能源安全和民生福祉，通过技术创新推进进口设备配件国产化， 既能规避因国际形势变化导致的配件供应受阻风险，保障设备持续稳定运行，又能凭借对配件性能的自 主把控，降低设备故障概率，是为储气库安全运营筑牢根基的必要之举。今年以来，华北油田全力 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6] Core Views - The company is a leading third-party cloud computing service provider in China, focusing on IaaS and PaaS, while expanding into high-value products like big data and AI [1][17] - The launch of DeepSeek models significantly lowers deployment barriers and costs, benefiting cloud computing vendors as demand for inference increases [2][45] - The company's quick response to DeepSeek model releases showcases its industry insight and execution capabilities, positioning it as a preferred choice for data-sensitive clients [3][48] Financial Forecast and Valuation - Revenue projections for 2025-2027 are estimated at 1,849 million, 2,156 million, and 2,459 million yuan, with year-on-year growth rates of +23.03%, +16.58%, and +14.08% respectively [4][63] - The company is expected to achieve net profits of -105 million, 5 million, and 100 million yuan in the same period [4][63] - The report employs a PS valuation method, with a 2026 projected PS of 4 times compared to a peer average of 6 times [4][63] Business Model and Product Matrix - The company offers a comprehensive cloud product matrix, including public, private, and hybrid cloud services, with public cloud revenue expected to grow significantly due to lower deployment costs for models [1][17][65] - The hybrid cloud model allows seamless integration of local infrastructure with public cloud resources, catering to industries with strict regulatory requirements [23][65] - The company has developed various products for AI applications, including a smart computing platform and a model service platform, enhancing its service offerings [25][63] Management and Team - The management team has a strong technical background, with the chairman having over 20 years of experience in the industry and recognition for his contributions [41][44] - The company has a stable employee structure, with high revenue generation per employee, indicating operational efficiency [36][37]

Core Viewpoint - The article discusses the efforts of Jinan Ain Semiconductor Technology Co., Ltd. to develop ion implanters, a critical equipment in semiconductor manufacturing, aiming to catch up with international standards and enhance China's semiconductor industry [2][3][4]. Company Overview - Jinan Ain Semiconductor was founded by Zhong Xinhua, who has 20 years of experience in ion implanter research and development [2][4]. - The company relocated its operations from Guangzhou to Jinan, Shandong, to consolidate resources for its production [2][18]. - The first silicon-based medium current ion implanter is in the final installation and debugging stage, expected to be completed by June [3][18]. Industry Context - Ion implanters are considered one of the four key pieces of equipment in chip manufacturing, alongside photolithography, etching, and deposition machines [2][4]. - Currently, four foreign companies dominate over 90% of the global ion implanter market, while domestic production in China is less than 10% [2][13]. - The market for ion implanters in China is projected to grow from 2.473 billion yuan in 2018 to 12.126 billion yuan by 2024, with a compound annual growth rate of 30.34% [9]. Technological Challenges - The transition from laboratory technology to industrialization involves overcoming significant barriers, including funding, market access, supply chain management, and technology iteration [3][8]. - The manufacturing of ion implanters requires precise control over parameters such as dosage, depth, and angle, making it a highly complex process [5][6]. Funding and Investment - Initial funding challenges were significant, with the high cost of components and the need for substantial investment to develop the technology [10][11]. - Ain Semiconductor received angel investment from Lushin Venture Capital, which recognized the potential of the technology and supported the company's early-stage financing [11][17]. Market Outlook - The semiconductor equipment market in China is expected to grow rapidly, with a projected 35% increase in sales in 2024, leading the global market [17]. - The company aims to achieve full coverage of all ion implanter models within three years, targeting performance that meets international standards [18].

Group 1 - The focus on the self-controllable information technology sector has led to a strong performance of the Xinchuang ETF (562570), with a nearly 1% increase and a trading volume approaching 300 million yuan [1] - The investment enthusiasm in the Xinchuang sector is driven by several key factors, including the rise of stablecoins, which necessitate highly secure and self-controllable information technology to avoid reliance on foreign technology [1] - The restriction on EDA tool exports from the US has provided a valuable opportunity for domestic EDA companies like Huada Jiutian and Gai Lun Electronics to enhance their capabilities through mergers and acquisitions [1] Group 2 - The strategic restructuring of domestic computing power leaders Haiguang Information and Zhongke Shuguang may initiate a wave of mergers and acquisitions, transforming the competitive landscape of domestic semiconductor equipment companies [2] - The Xinchuang ETF (562570) tracks the CSI Xinchuang Index, which covers core segments of the Xinchuang industry chain, including basic hardware, software, information security, and external devices [2] - Investors are encouraged to pay attention to the Xinchuang ETF, while being cautious of potential tracking deviation risks due to the suspension of weight stocks [2]