登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大 遗漏。 润建股份有限公司 董 事 会 2025年11月26日 根据《中华人民共和国公司法》《中华人民共和国证券法》《深圳证券交易所股票上市规则》《境内企 业境外发行证券和上市管理试行办法》《香港联合交易所有限公司证券上市规则》等相关法律法规的规 定，待确定具体方案后，本次H股上市工作尚需提交公司董事会和股东会审议，并经中国证券监督管理 委员会备案和香港证券及期货事务监察委员会等监管机构的批准、核准或备案。 本次H股上市能否通过审议、备案和审核程序并最终实施具有较大不确定性。公司将依据相关法律法规 的规定，根据本次H股上市的后续进展情况及时履行信息披露义务。本次H股上市尚存在较大不确定 性，敬请广大投资者理性投资，注意投资风险。 特此公告。 润建股份有限公司（以下简称"公司"）为进一步推进公司全球化发展战略，加强AI应用、算力等业务布 局，巩固行业领先地位，积极借助国际资本市场的资源与机制优势，拓宽多元融资渠道，全面提升公司 综合实力，正在筹划发行境外股份（H股）并在香港 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2025 年，中国算力产业正站在一个历史性的转折点上：大模型全面爆发，智算需求以指数级速度攀 升，而与此同时，围绕算力的全球科技竞争，正把GPU推向前所未有的战略高度。 正因如此，国产GPU的价值也迎来了重估。而即将成为"国产GPU第一股"的摩尔线程，无疑是最受关注 的标的之一。 近日，摩尔线程（688795）在科创板正式发行，114.28元/股的发行价成为今年最"贵"新股。据公告，本 次网上发行有效申购户数达到482.66万户，有效申购股数高达462.17亿股。由于本次网上初步有效申购 倍数约为 4，126.49 倍，高于 100 倍，发行人和保荐人决定启动回拨机制。回拨机制启动后，网上发行 最终中签率为 0.03635054%。 投资者对摩尔线程的热情令人毫不意外。事实上，从IPO申请获得受理到成功过会，摩尔线程仅用时88 天，同样创下2025年科创板过会最快纪录。 AI的每一次技术跃迁，背后都是算力形态的变革。作为中国少数走通全功能 GPU 路线的企业，摩尔线 程正在成为这场时代浪潮的关键变量。 对标英伟达，"全功能GPU"的含金 ...

Core Viewpoint - Runjian Co., Ltd. is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange to advance its global development strategy and enhance its AI applications and computing power business layout [1] Group 1 - The company aims to broaden its diversified financing channels through the issuance of H-shares [1] - The details of the H-share issuance are not yet finalized, and it will not result in changes to the company's controlling shareholder or actual controller [1] - The H-share listing plan will require approval from the company's board of directors, shareholders, and regulatory bodies including the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission [1]

从光模块配置上，创业板人工智能ETF（159363）基金经理近期表示，在美股开始底部显著反弹之际， 虽然调整会反复，但主跌浪或已结束，泛科技ETF配置价值凸显；同时A股高位板块也死守箱体，低位 板块位置调整充分。从空间角度，市场已经达到"低吸"的较好"击球点"，配置上关注以光模块为代表的 创业板人工智能ETF（159363），目前就相当于成长板块指数增强。 全市场首只创业板人工智能ETF（159363）及场外联接（023407），标的指数重点布局光模块龙头"易 中天"，光模块含量超54%。从赛道分布看，逾七成仓位布局算力，超两成仓位布局AI应用，能够高效 捕捉AI主题行情。 11月26日早盘，光模块CPO涨幅持续扩大，中际旭创盘中暴涨超11%直逼历史高点，新易盛涨超8%， 光库科技、天孚通信、太辰光、联特科技等多股跟涨超4%。热门ETF方面，光模块含量超54%的创业板 人工智能ETF（159363）持续拉升，场内价格涨超5%，一举站上所有均线。资金交易活跃，实时放量 成交超7亿元。 近期，谷歌TPU与英伟达GPU引发市场争议，从国内供应链机会来看，其实无论是谷歌TPU基于3D Torus和OCS的架构，还是英 ...

近期，谷歌TPU与英伟达GPU引发市场争议，从国内供应链机会来看，其实无论是谷歌TPU基于3D Torus和OCS的架构，还是英伟达GPU基于NVLink和CLOS网络的架构，在构建超大规模AI算力集群 时，都不可避免地要使用光模块来突破通信瓶颈。光模块作为数据中心内部的"信息高速公路"，确保了 计算潜力能被完全释放。因此，光模块已成为支撑英伟达GPU和谷歌TPU这两大AI算力巨头迈向未来的 共同基石。 从光模块配置上，创业板人工智能ETF（159363）基金经理近期表示，在美股开始底部显著反弹之际， 虽然调整会反复，但主跌浪或已结束，泛科技ETF配置价值凸显；同时A股高位板块也死守箱体，低位 板块位置调整充分。从空间角度，市场已经达到"低吸"的较好"击球点"，配置上关注以光模块为代表的 创业板人工智能ETF（159363），目前就相当于成长板块指数增强。 11月26日，光模块CPO集体大幅拉升，中际旭创领涨超6%，新易盛涨超5%，光库科技涨超4%。热门 ETF方面，光模块含量超54%的创业板人工智能ETF（159363）低开高走，场内价格快速冲高逾3.4%， 盘中站上所有均线，实时成交额快速突破4.4亿元。 ...

| 分时 多日 1分 5分 15分 30分 7 | 综合屏 F9 前复权 超级叠加 回线 工具 (2) | 159363 | 创业板人工智能印文字 | 159363.SZ[创业板人工智能ETF华宝] 2025/11/26 收 0.858 幅 2.14%(0.018) 开 0.833 高 0.859 低 | 0-8 | OHE | +0.018 +2.14% | | --- | --- | --- | --- | --- | --- | --- | --- | | 10 10 | MA5 0.8331 MA10 0.8351 MA20 0.851 MA60 0.8537 MA120 0.7167 | 2025/08/27-2025/11/26(60日) | SZSE CNY 9:57:30 交易中 | 十八 六 · | | | | | 净值走势 | 华宝创业板人工智能ETF | 0.930 | 製化 | 6.97% === | 43516 | | | | 菜五 | 0.862 | 221万 | 題 要要要要是 | 0.861 | 453万 | | | | 0.858 | 0.860 | 1229万 | 0.85 ...

Group 1 - Computing power is becoming an essential resource for the digital economy, with overall growth rates in China maintaining between 20% and 30%, and intelligent computing power growth reaching 50% to 100% [1][2] - Sichuan is accelerating the construction of a national integrated computing power network, forming a new development pattern centered around the Tianfu data center cluster, with collaboration from cities like Ya'an, Deyang, and Dazhou [1][5] - The recent supply-demand matching event in Sichuan gathered over a hundred upstream and downstream enterprises, aiming to build bridges for the computing power and big data industry [1] Group 2 - The integration of computing power in food safety and smart transportation is highlighted, with companies showcasing intelligent devices that rely on strong computing power for data analysis and risk management [2] - The Ministry of Industry and Information Technology has issued plans to promote the collaborative layout of computing power networks, aiming to integrate computing power into urban infrastructure [2] Group 3 - Sichuan is leveraging its advantages in clean energy, educational strength, and industrial foundation to develop a computing power and big data industry, with plans to establish a collaborative development framework by 2027 [5] - The "East Data West Computing" initiative is being utilized to create a computing power hub with national influence [5] Group 4 - The manufacturing sector faces challenges in digital transformation, with companies struggling to implement mature industrial models and application scenarios [6] - New hardware solutions, such as advanced cooling systems, are being developed to support the evolving demands of high-density and high-power computing environments [6]

Core Viewpoint - The company is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its global development strategy and strengthen its AI and computing power business layout [1] Group 1 - The company aims to consolidate its industry-leading position by leveraging resources and mechanisms from international capital markets [1] - The company is actively seeking to diversify its financing channels to improve its overall strength [1] - Discussions with relevant intermediaries regarding the specifics of the H-share listing are currently underway, with details yet to be finalized [1] Group 2 - The H-share listing will not result in any changes to the company's controlling shareholder or actual controller [1]

Core Viewpoint - The A-share market experienced a collective rise, driven by the strong performance of Google and Broadcom, signaling a rebound in AI-related stocks. The focus is on Google's advancements in AI technology and its implications for the industry [1][5][16]. Group 1: AI Developments - Google is positioning itself as a leader in the AI sector, with its self-developed TPU chips expected to capture 10% of Nvidia's annual revenue, potentially generating billions in new income [6]. - The recent release of Google's Gemini 3 Pro model has set a new industry benchmark, outperforming competitors like OpenAI's GPT-5.1 in various key tasks [19]. - Anthropic's Claude Opus 4.5 has emerged as a strong competitor, indicating the rapid pace of innovation in the AI field [7]. Group 2: Market Reactions - The technology sector, particularly AI hardware stocks, saw significant gains, with the Communication ETF (515880) rising by 3.67% and achieving an 84.38% increase year-to-date, making it the top-performing industry theme ETF in the A-share market [1][21]. - Meta's potential investment in Google's TPU for its data centers has further bolstered Google's stock performance, contributing to a broader tech sector rebound [5][16]. Group 3: Industry Implications - Google's advancements in AI and its comprehensive technology ecosystem are expected to drive increased capital expenditures in computing power and chip procurement in the coming years [16][20]. - The communication equipment sector is benefiting from the ongoing global AI arms race, with companies in this space experiencing growing business demand [21]. - The Communication ETF provides investors with a convenient way to gain exposure to the communication sector, which is heavily weighted towards optical modules and servers [21][22]. Group 4: Future Outlook - The AI model development cycle is entering a new phase, with increasing demand for computing power reinforcing the growth narrative for the communication sector [27]. - Despite recent market adjustments, the underlying demand for AI-driven computing remains strong, suggesting that current pullbacks may present investment opportunities [29].

Core Insights - AI technology has become a core driving force in the computer and software development industry, with significant capital expenditures from major cloud providers [1] - The combined investment of Amazon, Microsoft, Google, and Meta in AI-related infrastructure is expected to exceed $110 billion by Q3 2025, primarily for data centers and AI infrastructure [1] - AI is significantly boosting cloud business revenues, with Amazon AWS backlog orders exceeding $200 billion, Microsoft Azure experiencing a growth rate of 40%, and Google Cloud revenue share increasing to 14.8% [1] - NVIDIA's data center business achieved a record revenue of $51.2 billion in a single quarter, with future quarters expected to generate $500 billion [1] - AI technology is also driving revenue growth for SaaS companies, with firms like ServiceNow and Palantir seeing substantial income increases through AI platforms [1] - Overall, AI's deep penetration in cloud computing, computing power, and software applications is continuously reshaping the industry landscape and creating new growth momentum [1] Industry Overview - The Computer ETF (512720) tracks the CS Computer Index (930651), which selects listed companies involved in software development, IT services, and hardware manufacturing from the Shanghai and Shenzhen markets [1] - The index reflects the overall performance of publicly listed companies related to computing, with a focus on the information technology sector and a growth-oriented style [1]