Group 1: Liquidity and Performance of Sci-Tech Chip ETF - The Sci-Tech Chip ETF had an intraday turnover of 2.57% and a transaction volume of 669 million yuan [3] - Over the past year, the average daily transaction volume of the Sci-Tech Chip ETF was 2.276 billion yuan, ranking first among comparable funds [3] - In the past week, the Sci-Tech Chip ETF saw a scale increase of 264 million yuan, also ranking first among comparable funds [3] - The ETF's share increased by 17.7 million shares in the past week, marking significant growth and ranking first among comparable funds [3] - In the last five trading days, there were net inflows on four days, totaling 1.041 billion yuan [3] - As of June 10, the net value of the Sci-Tech Chip ETF increased by 61.50% over the past year, ranking first among comparable funds and placing 49th out of 2846 in the index stock fund category [3] - The highest monthly return since inception was 25.18%, with the longest consecutive monthly increase being four months and a maximum increase of 36.01% [3] Group 2: Semiconductor Industry Outlook - The electronic semiconductor industry is expected to experience a comprehensive recovery by 2025, with an accelerated optimization of the competitive landscape and a continuous rebound in profits for related companies [4] - Key areas of focus include AIOT SoC chips, analog chips, and driver chips, with a strengthening logic for domestic substitution of key semiconductor materials [4] - Platform-leading enterprises in electronic materials and the silicon carbide industry chain also show potential [4] - Overall, the electronic industry maintains an "overweight" rating, with clear trends of industrial repair and upgrade, and an optimistic market outlook [4] - As of May 30, 2025, the top ten weighted stocks in the Sci-Tech Board Chip Index accounted for 57.93% of the total index, including companies like SMIC and Cambrian [4] - Investors without stock accounts can access domestic chip investment opportunities through the Sci-Tech Chip ETF linked fund (017470) [4]

Core Viewpoint - The merger between Haiguang Information and Zhongke Shuguang is highly anticipated by investors, with expectations that it will lead to a rally in technology stocks following the resumption of trading [1][2]. Group 1: Merger Details - The merger involves a share exchange ratio where one share of Zhongke Shuguang can be exchanged for 0.5525 shares of Haiguang Information, with the exchange prices set at 79.26 CNY for Zhongke Shuguang and 143.46 CNY for Haiguang Information [6][7]. - The total assets of Haiguang Information are reported at 2,855,949.20 million CNY, while Zhongke Shuguang's total assets are 3,661,749.16 million CNY, indicating that Zhongke Shuguang has a higher asset base [8]. Group 2: Market Reaction - On June 10, Haiguang Information saw a peak increase of 8.72% during the bidding phase, closing with a 4.22% rise, while Zhongke Shuguang reached a limit up [2][10]. - Investors expressed dissatisfaction with the exchange ratio and pricing, feeling that it did not meet their expectations, particularly given Zhongke Shuguang's higher asset values [7][9]. Group 3: Cash Option for Dissenting Shareholders - Dissenting shareholders of Zhongke Shuguang have the option to cash out at a price of 61.90 CNY per share, which is lower than the exchange price, indicating a strategic move to limit cash outflow [9][10]. - The cash option is typically expected to be higher than the exchange price, but in this case, the exchange price is set higher to encourage shareholders to opt for shares instead [9]. Group 4: Strategic Implications - The merger aims to integrate resources from both companies, focusing on high-end chip design and computing solutions, thereby enhancing their competitive edge in the AI and computing sectors [10][11]. - The merger is seen as a response to the investment gap in the domestic chip industry, with the combined entity expected to leverage its strengths in the AI and computing markets [11].

Group 1 - Haiguang Information disclosed a major asset restructuring plan on June 9, proposing to issue A-shares to all shareholders of Zhongke Shuguang in exchange for their shares [1] - The exchange price for Haiguang Information's shares is set at 143.46 CNY per share, while the exchange price for Zhongke Shuguang's shares is 79.26 CNY per share [1] - After the merger, Zhongke Shuguang will be delisted, and Haiguang Information will inherit all assets, liabilities, businesses, personnel, contracts, and other rights and obligations of Zhongke Shuguang [1] Group 2 - According to Zhongtai Securities, the strategic restructuring is expected to achieve complementary capabilities in the computing power industry chain and technical synergy, creating an integrated solution for "domestic chips + server systems" [1] - The merger aims to enhance the development of high-end chips and optimize integrated technology solutions, accelerating the realization of economies of scale [1] - Dongwu Securities indicated that in the short term, the rotation of themes will continue, and a weak dollar environment could benefit Chinese assets, potentially leading to a new round of growth in A-shares [2] Group 3 - On June 10, following the merger announcement, Zhongke Shuguang's shares hit the daily limit, while Haiguang Information's shares rose nearly 9% [2] - The Huashan Xinchuan ETF trio, including the Sci-Tech Chip ETF (588290), Sci-Tech Information ETF (588260), and Digital Economy ETF (159658), received significant market attention and capital inflows [2] - The Sci-Tech Chip ETF closely tracks the Shanghai Stock Exchange Sci-Tech Board Chip Index, reflecting the performance of semiconductor-related companies [3]

以下文章来源于暗涌Waves ，作者暗涌 暗涌Waves . 钱的流向，人的沉浮。36氪旗下投资报道账号。 "一系列偶然又必然的选择。" 文 ｜ 于丽丽 来源｜ 暗涌Waves（ID： waves36kr ） 封面来源 ｜ IC Photo " 暗涌Waves " 获悉，AI Infra公司硅基流动新近完成一轮由阿里云领投的数亿元人民币融资。老股东创新工场等机构超额跟投，华兴资本担任独家财务顾 问。更早入局的，还包括美团（战略投资）、创新工场、耀途资本、奇绩创坛、华创资本、普华资本等机构。 硅基流动创始人袁进辉把本次融资比作"一次双向奔赴"。拆解看，阿里对AI基础设施一直是战略级投入。年初，阿里CEO吴泳铭就宣布了在云和AI硬件 基础设施领域的庞大投资：3800亿。这也是中国民营企业有史以来在此领域的最大规模投资纪录。而从硅基流动角度，除了获得融资外，未来也"可以与 阿里巴巴通义千问有更好的生态协作，还能在算力、国内外市场扩展等方面广泛协作。"袁进辉如此说。 这也是硅基流动在获得爆发式增长后的一次融资。上次融资还是爆发前的2024年底，当时硅基流动完成的是，华创资本领投，普华资本跟投，老股东耀途 资本超额跟投 ...

随着大模型推理成本持续下降和国产芯片的飞速发展，政务、金融、医疗等对数据安全高度敏感行业， 正加速推进推理模型的国产化本地部署。面对市场上型号众多、性能差异显著的国产智算芯片，如何高 效、准确地压测模型推理性能，成为筛选出兼具高性能与低成本的芯片的关键挑战。 为攻克这一难题，中移齐鲁创新院自主研发"迅测"芯片推理性能自动压测工具，该工具创新性地构建 了"配置即测试"的压测模式，并集成了强大的数据自动解析能力，旨在破解国产芯片快速选型的瓶 颈。"迅测"工具的应用带来了显著的效率变革，单轮测试所需的人工值守时长从平均8小时大幅降至0.5 小时，数据整理耗时减少70%，整体芯片选型效率平均提升3倍。 采用标准化数据存储机制，自动计算并生成错误率、单路输出速度等核心性能指标，确保跨不同芯片平 台及异构环境的测试结果具有可比性。其内嵌的数据可视化引擎直观呈现芯片性能差异，结果一目了 然。此外，强大的自动化日志解析技术有效解决了海量压测日志需人工耗时汇总与格式整理的痛点。 截至目前，中移齐鲁创新院已成功利用"迅测"工具，完成了DeepSeek系列大模型在天数智芯、华为昇 腾、壁仞科技、瀚博半导体等多个主流国产计算平台上的 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 过去几年，科创板经历了一轮"放水提速"后，监管节奏趋于收紧。以芯片企业为代表的硬科 技板块，IPO审核门槛明显提高，估值中枢逐步回归。在此背景下，并购逐渐成为企业实现 资本化、产业协同的新路径。 尤其是在2024年6月，《八条措施》《创投17条》相继出台，监管层明确释放出支持硬科技企业通 过并购实现外延式发展的政策信号，同时配套构建了包括"定向可转债"等在内的金融工具体系，显 著提升了并购交易的效率，也在一定程度上对冲了市场波动带来的估值博弈风险。 自2024年下半年以来至2025年，发生了不少并购案例：思瑞浦并购创芯微、纳芯微吞并麦歌恩、 南芯科技收购昇生微，晶丰明源收购易冲科技，杰华特收购天易合芯，乃至信邦智能"跨界"控股英 迪芯微，国科微收购中芯宁波。。。。。 科创板企业普遍具有研发导向强、成长性高的特点。在当前"技术壁垒"与"盈利可持续性"成为资本 关注核心的环境下，并购对被收购方而言，是一条相较IPO更高效、更确定的资本路径；而对收购 方而言，则是补齐技术短板、拓展产品矩阵的关键举措。 此前纳芯微的主要布局是在电流传感器，麦歌恩的磁传感器产品线覆盖磁开关、电 ...

以下文章来源于电子开发学习 ，作者小马哥 电子开发学习 . 每日定期推送电子设计相关的学习例程，包括原理图设计、Layout、软件设计等相关内容，也会不定期 推送各种电子、单片机相关软件的教程。 我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 扫码加我本人微信 今天拆解一款绿驹电动车上的黑鹰 2Si-12 控制器。它的型号是 ZWK072032B ，高标给做的。 电压 72V 、电流 32A 。这是 2021 年 6 月份的产品。 之前拆高标做的控，也看到有这个，不知道是做什么的？我怀疑是不是一个类似泄压阀的东西，壳 体内部是密封的。如果电容或者 MOS 炸了，这个绿色的小盖子会弹开从而完成泄压，避免壳体 炸开。 这个控是在电瓶车维修店看到的，店主告诉我这个控还能用，所以不太想给我，谁让我口舌功夫了 得，一番口舌之争后，店主终究还是架不住我的软磨硬泡，败下阵来，把这个控制器给我了。 这个控用的是挤压型材外壳。 端盖固定螺丝是内六星螺丝。 费了九牛二虎之力，终于把注塑顶壳拿掉了。 这个控也是使用这种钢卡把 MOS 紧固 ...

《商道创投网》创业家会员·单位简介 《商道创投网》2025年6月3日从官方获悉：为旌科技近日完成了由君信资本出资的1亿元A2轮融资。此前，为旌科技已获得深创投连续四轮投资，华业天 成、元璟资本等知名半导体投资机构也持续参与其中。 君信资本负责人唐祖荣表示，为旌科技在高端SoC芯片领域展现出强大的技术实力和市场潜力。公司不仅掌握多项关键技术，还成功实现产品量产并获得行 业头部客户的高度认可。其团队背景深厚，具备丰富的行业经验，是推动国产芯片发展的重要力量。 《商道创投网》创投生态圈·本轮投融观点是什么？ 商道创投网创始人王帥表示，当前政府大力推动半导体产业的自主可控发展，出台了一系列支持政策，行业从业者积极响应，执行力度不断提升。本轮投资 为旌科技，不仅是对其技术实力和市场潜力的认可，也是对国产芯片发展的重要助力。管理人应秉持"食君之禄忠君之事"的理念，为出资人创造价值，同时 也为融资方提供全方位支持，助力其在激烈的市场竞争中脱颖而出。 为旌科技成立于2020年，是一家专注于高端智能感知SoC芯片研发的创新型企业。公司凭借AI计算、图像视觉、异构架构等核心技术，致力于成为端侧SoC 芯片的领军者。其产品广泛应用 ...

Group 1 - The core point of the news is that Lenovo (Beijing) Information Technology Co., Ltd. has successfully won the bid for the China Construction Bank's Haiguang chip server procurement project, with a total bid amount exceeding 1.1 billion yuan [1] - Lenovo's Infrastructure Solutions Group (ISG) reported a remarkable performance in Q4 2024/2025, with a year-on-year revenue growth of 63% and achieving profitability for the second consecutive quarter, indicating strong innovation capabilities in various industries [1] - The successful bid for the Haiguang chip server project further validates Lenovo's competitive edge and influence in the market, showcasing the technical strength and product quality of its server offerings [1] Group 2 - The Haiguang chip, based on the X86 architecture, has been developed in collaboration with AMD, allowing for direct compatibility with Windows/Linux systems and traditional software ecosystems [2] - Lenovo's server products based on the Haiguang chip are characterized by high performance, reliability, and scalability, meeting the stringent requirements of financial institutions for data processing capability, security, and stability [2] - This bid win represents a significant breakthrough for Lenovo in the financial sector server market, helping to expand its market share and deepen partnerships with major banks, while injecting new momentum into the growth of its ISG business [2]

来源：钛媒体 5月25日晚，海光信息（688041.SH）、中科曙光（603019.SH）双双发布公告，二者正在筹划由海光信息通过向中科曙光全体A股换股股东发行A股股票的方 式换股吸收合并中科曙光，并发行A股股票募集配套资金，两家公司A股股票今日起开始停牌，预计停牌时间不超过10个交易日。 海光信息脱胎于中科曙光，上市至今不足三年，业绩、估值双双"狂飙"。中科曙光去年首次出现负增长，在海光信息为其贡献近3成投资收益的背景下，净 利润仍大幅降速。 中科曙光是中科院计算所旗下上市公司，其第一大股东为北京中科算源资产管理有限公司，持股比例为16.36%，实际控制人为中国科学院计算技术研究 所。 海光信息脱胎于中科曙光，从成立背景、股权结构和技术来源等方面来看，海光信息与中科曙光有着深厚的渊源。 海光信息成立于2014年，由中科曙光联合天津海泰科技投资、中科院计算技术研究所等共同设立，中科曙光初期持股32.10%，为控股股东。公司专注于国 产架构CPU、DCU等核心芯片设计，是国产x86架构CPU和DCU（AI芯片）领域的代表性企业。 2022年，中科曙光为支持芯片业务独立融资，推动海光登陆科创板上市，股权进一步稀释 ...