今日（8月28日）创业板指、科创综指携手涨超2%，覆盖科创板+创业板高成长龙头的双创龙头ETF （588330）展现高弹性优势，场内价格现涨4%，再创三年多以来的阶段新高！ 成份股方面，天孚通信冲击20CM涨停，中芯国际涨超12%，中际旭创涨逾9%，新易盛涨超8%。 值得关注的是，光模块三巨头荣登A股成交榜前四！截至发稿，新易盛、中际旭创、天孚通信实时成交 额分别为116亿元、100亿元、69.76亿元，高居A股成交榜前四。 | 序号 | 代理 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 300502 | 新易盛 | 333.30 | 24.97 | 8.10% | 116.20亿 | 305,35% | | 2 | 300308 | 中原旭创 | 355.33 | 30.23 | 9.30% | 100.74亿 | 188.85%- | | B | 000063 | 中兴通讯 | 46.49 | 2.39 | 5.42% | 72.60亿 | 17.34% | | 4 | ...

Core Viewpoint - The surge in the STAR Market and ChiNext is driven by the booming demand for AI computing power, leading to significant growth in the performance of related listed companies in the first half of 2025 [3][4]. Group 1: Market Performance - The dual innovation leader ETF (588330) saw a price increase of 6.57% with a trading volume exceeding 800 million yuan, indicating strong market activity [1]. - Semiconductor industry leaders, including Haiguang Information and Cambrian, experienced significant gains, with stocks like SMIC rising over 14% [1]. Group 2: Company Performance - Haiguang Information reported a revenue of 5.464 billion yuan, a year-on-year increase of 45.21%, and a net profit of 1.201 billion yuan, up 40.78% [3]. - Zhongji Xuchuang, a major optical module manufacturer, expects a net profit of 3.6 billion to 4.4 billion yuan for the first half of 2025, reflecting a growth of 52.64% to 86.57% [4]. - New Yisheng anticipates a net profit of 3.7 billion to 4.2 billion yuan, marking a year-on-year increase of 327.68% to 385.47% [4]. Group 3: Industry Trends - The AI computing power boom is creating substantial demand for key infrastructure like optical modules, particularly CPO technology, which reduces data center power costs and enhances transmission efficiency [3]. - The development opportunities in AI computing are driven by three main factors: technological iteration, localization of products, and dual support from policies and capital [4]. - The transition from old to new economic drivers in China is expected to favor technology innovation and high-end manufacturing, with emerging industries like AI and innovative pharmaceuticals likely to benefit [4]. Group 4: Investment Insights - The dual innovation leader ETF (588330) is characterized by cross-market diversification, focusing on strategic emerging industries, and offers a low entry point for investors [6]. - The ETF captures high-growth sectors, including new energy and semiconductors, and is positioned as a tool for investors to engage with the technology market [6].

Group 1: Company Overview - Xiamen Tungsten Co., Ltd. focuses on three core businesses: tungsten, molybdenum, and rare earth materials, continuously innovating in technology and management to enhance its industrial layout in tungsten, molybdenum, rare earth, and lithium battery materials [3][4][12] - The company has a complete tungsten industry chain, including mining, smelting, powder production, and deep processing, which provides a stable resource guarantee for downstream processing [4][10][15] Group 2: Financial Performance - For the first half of 2025, the company reported operating revenue of approximately 19.18 billion yuan, an increase of 11.75% compared to the same period in 2024 [3] - The total profit for the same period was approximately 1.69 billion yuan, a decrease of 10.29% year-on-year, while the net profit attributable to shareholders was approximately 972.20 million yuan, down 4.37% from the previous year [3] Group 3: Market Trends and Demand - The tungsten market has shown an upward trend, with the average price of 65% black tungsten concentrate reaching 150,000 yuan per ton, a 12.11% increase year-on-year [4][5] - Global tungsten consumption in the first half of 2025 was approximately 35,885 tons, reflecting a year-on-year growth of 2.1%, driven by demand in construction, machine tools, and automotive sectors [5][6] Group 4: Molybdenum Market Insights - Molybdenum prices have shown a fluctuating upward trend, with the average price of molybdenum concentrate at 3,543 yuan per ton, a 1.1% increase year-on-year [9] - The company holds a leading position in the domestic molybdenum market, with over 40% market share in ammonium molybdate and significant presence in molybdenum powder and wire products [10] Group 5: Rare Earth Market Dynamics - The rare earth market has experienced price increases, with the average price of praseodymium-neodymium oxide reaching 6.63 million yuan per ton, an 11.82% increase year-on-year [13] - The company has established a comprehensive rare earth industry chain, ensuring stable supply through strategic partnerships and focusing on high-value-added products [15][16]

Core Insights - SoftBank Group announced a $2 billion investment in Intel at a price of $23 per share, acquiring approximately 2% of the company's shares, amid Intel's significant struggles in the semiconductor industry [1][2] - Intel reported a net loss of $18.8 billion in 2024, with its stock price dropping nearly 60%, leading to its removal from the Dow Jones index [1][2] - The investment comes at a critical time as Intel faces fierce competition from Nvidia, which has a market capitalization of $4.44 trillion, nearly 40 times that of Intel's $103.6 billion [1][2] Group 1: AI Competition and Manufacturing - The essence of AI competition lies in high-end manufacturing and energy supply, with advanced semiconductor manufacturing being crucial for delivering scalable computing power [2][4] - Intel is the only U.S. company with advanced process capabilities, making it a key player in the semiconductor supply chain, despite recent failures in mobile and AI computing [2][4] - The competition in AI is fundamentally a contest of high-end manufacturing and energy control, with the U.S. government pushing for a return of manufacturing capabilities [5][6] Group 2: Intel's Historical Context and Challenges - Intel was once the dominant player in the PC era but has lost its edge due to missed opportunities and strategic missteps, particularly in the face of the AI revolution [7][9] - The shift from CPU to GPU as the driving force in AI computing has left Intel trailing behind competitors like Nvidia and AMD [9][10] - Intel's past reliance on its IDM model has exposed vulnerabilities, particularly in adapting to rapid industry changes [12][13] Group 3: Intel's Strategic Importance to the U.S. - Intel's revival is critical for the U.S. high-end manufacturing sector, serving as an anchor for domestic industry and technology leadership [11][12] - The Biden administration's initiatives, such as the CHIPS Act, aim to bolster U.S. semiconductor manufacturing capabilities, with Intel positioned as a key player [11][12] - If Intel fails to recover, it could further diminish U.S. influence in advanced manufacturing and technology [11][12] Group 4: Intel's Self-Rescue Efforts - Intel has made significant changes to its board, bringing in semiconductor industry veterans to strengthen its leadership [12][14] - The company is attempting to pivot towards a more collaborative model (IDM 2.0) that integrates design and foundry operations [16][17] - The success of Intel's new technology roadmap, including the 18A process, is crucial for its turnaround and competitive positioning [16][17] Group 5: Future Implications and Signals - Intel's trajectory will significantly impact the global semiconductor landscape, with its ability to innovate and adapt being critical [16][20] - Key indicators to watch include external support from government and investors, engineering progress on new technologies, and shifts in market dynamics [19][21] - The outcome of Intel's strategic initiatives will not only affect its own future but also the broader U.S. manufacturing ecosystem and geopolitical landscape [20][21]

Group 1 - Zhejiang Zhigao Machinery Co., Ltd. has recently been listed on the Beijing Stock Exchange, becoming the 271st listed company on the exchange [1] - The company specializes in the research, production, sales, and service of rock drilling equipment and air compressors, recognized as a national-level "specialized, refined, distinctive, and innovative" small giant enterprise [1] - Zhigao Machinery's products are widely used in key national projects such as the Zhengwan High-speed Railway and the Sichuan-Tibet Railway [1] Group 2 - The company achieved operating revenues of 795 million yuan, 840 million yuan, and 888 million yuan from 2022 to 2024, with net profits of 89 million yuan, 104 million yuan, and 105 million yuan respectively [1] - For the first half of 2025, Zhigao Machinery reported operating revenue of 469 million yuan and net profit of 60 million yuan [1] - The company projects operating revenue of 660 million to 722 million yuan and net profit of 80.96 million to 89.48 million yuan for the first nine months of 2025, indicating a year-on-year growth of 0.80% to 10.25% for revenue and 11.50% to 23.23% for net profit [2] Group 3 - The company raised a total of 374 million yuan through its IPO, with the funds allocated for the construction of a production line for 300 intelligent drilling machines, an engineering technology research center, and to supplement working capital [2][3] - The new production line aims to enhance and optimize the existing product structure, expanding the capacity for high-end products [3] - The engineering technology research center will focus on advanced manufacturing trends and enhance the company's technological reserves for high-end drilling and screw compressor products [3]

Group 1 - The core viewpoint is that the broad-based Sci-Tech Innovation and Entrepreneurship 50 index has significant allocation value in the current liquidity easing environment, with valuations below the historical 30th percentile and superior performance in earnings growth compared to broad indices [1] - The index is expected to benefit from a liquidity-driven bull market in the short term, while mid-term growth will favor large-cap stocks focused on overseas expansion, and long-term attention should be on policy catalysts in technology innovation and high-end manufacturing amid the transition of old and new driving forces [1] - The Sci-Tech Innovation and Entrepreneurship ETF (588360) tracks the Sci-Tech Innovation and Entrepreneurship 50 index (931643), which can experience daily fluctuations of up to 20%, focusing on large-cap stocks in emerging industries such as pharmaceuticals and electrical equipment [1] Group 2 - Investors without stock accounts can consider the Guotai CSI Sci-Tech Innovation and Entrepreneurship 50 ETF Initiated Link C (013307) and Link A (013306) as alternative investment options [1]

截至2025年8月15日 13:45，科创100ETF基金(588220)上涨3.29%，跟踪指数成分股杰华特(688141)上涨 17.27%，东芯股份(688110)上涨15.59%，财富趋势(688318)上涨14.88%，盛科通信(688702)，芯动联科 (688582)等个股跟涨。 市场整体走高，科技板块备受关注，市场交投活跃。国投证券指出，基于产业逻辑的科技科创领域（如 创业板指、科创100等）或将成为流动性牛市中最受益的方向。中长期来看，十五五规划中科技创新和 高端制造业或将成为政策鼓励方向，特别是在AI、创新药、新消费和出海领域形成"新叙事"。科技科创 领域有望迎来系统性机会。短期来看，具备产业逻辑的科技科创类资产（如创新药、AI）在结构排序 中位居前列。 科创100ETF基金(588220)紧密跟踪上证科创板100指数，上证科创板100指数从上海证券交易所科创板中 选取市值中等且流动性较好的100只证券作为样本。上证科创板100指数与上证科创板50成份指数共同构 成上证科创板规模指数系列，反映科创板市场不同市值规模上市公司证券的整体表现。 数据显示，截至2025年7月31日，上证科创板10 ...

Group 1 - The core viewpoint is that the technology and innovation sectors, particularly in the context of the ChiNext and STAR Market, are expected to benefit significantly from the liquidity bull market, with valuations below the historical 30th percentile and superior earnings growth compared to broad indices [1] - The 14th Five-Year Plan emphasizes technology innovation and high-end manufacturing as key policy directions, especially in AI, innovative pharmaceuticals, new consumption, and overseas expansion, creating a "new narrative" for these sectors [1] - The STAR 100 ETF (588120) tracks the STAR 100 Index (000698), which can experience daily fluctuations of up to 20%, reflecting the overall performance of mid-cap stocks in the STAR Market, covering emerging industries such as information technology and biomedicine [1] Group 2 - Investors without stock accounts can consider the Guotai CSI STAR 100 ETF Fund Link C (019867) and Guotai CSI STAR 100 ETF Fund Link A (019866) for exposure to the STAR Market [1]

Core Insights - The foundation ceremony for the expansion project of Jiexun Precision Rubber (Suzhou) Co., Ltd. was held on August 11, which aims to inject new momentum into the electronic information industry development in Wujiang Development Zone [1] - The project covers an area of 61.3 acres with a planned total investment exceeding 400 million yuan, focusing on the R&D and production of core components for high-end 3C products [1] - Upon completion, the project is expected to achieve an annual production of 100 million keyboard semi-finished products and 1,500 tons of silicone products, with a completion target set for September 2026 and production to commence in the fourth quarter of the same year [1] Company Overview - Jiexun Precision is a wholly-owned subsidiary of Taiwan Jiexun Rubber Industrial Co., Ltd., which has been established in Wujiang since 2002, specializing in the field of liquid silicone rubber precision injection molding [1] - The company holds over 80% market share in some of its products, positioning itself as a leading supplier of high-precision electronic components in the industry [1] Industry Impact - The expansion project is expected to enhance the company's automation level and production capacity, contributing significantly to the development of high-end manufacturing in Wujiang [1] - The company aims to provide high-precision and high-performance silicone product solutions for the global high-end 3C market, leveraging advanced technology and an intelligent production system [1]

作者｜睿研金融 编辑｜MAX 来源｜蓝筹企业评论 去年8月，管理资产规模超万亿的明星基金公司嘉实基金爆出重磅消息，董事长赵学军因个人问题正在 配合有关部门调查。作为行业头部企业，嘉实赵学军的被查引起了行业的震动，整个公募基金行业一时 间众说纷纭。 作为行业元老，赵学军曾经带领嘉实基金实现了规模飙升，而进入安国勇时代后，嘉实基金能否走出管 理的困境仍是市场关注的焦点。 除此之外，嘉实的投研能力也饱受质疑。曾经的明星基金经理姚志鹏的业绩近年来一落千丈，其管理的 核心产品嘉实新能源新材料A的净值从高位最大回落幅度超过三分之二，可谓损失惨重。 资料来源： 风口上的幻象 姚志鹏的声名鹊起得益于新能源板块的大牛市，而其衰落则同样源于此。 2020年之后，房地产行业进入了新一波的调整期，地产及相关产业链对经济增长的推动作用显著下降。 在这种情况下，经济需要寻找新的增长驱动力，而相关的资产在资本市场上也必将受到资金的追捧。 按照国家转型升级的需要，新的产业应该具备强大的核心竞争力，能在全球产业链分工中占据重要的地 位。这些资产能帮助国内实现经济转型，推动经济持续增长。与此相关的新能源汽车、军工等高端制造 业将成为转型升级的方 ...