今年以来，私募机构参与A股市场定向增发(以下简称"定增")项目的热情持续高涨，并实现了丰厚的投 资回报。据私募排排网最新统计数据，截至12月23日，年内共有52家私募机构旗下产品参与了58家A股 上市公司定增，合计获配金额达59.80亿元，较去年同期的48.43亿元增长23.48%。以12月23日收盘价计 算，私募机构参与定增项目合计浮盈金额约27.24亿元，展现出较强的投资收益能力。 谈及A股市场定增项目缘何吸引私募机构，融智投资FOF基金经理李春瑜对《证券日报》记者表示："今 年以来，随着A股市场企稳回升与政策支持形成共振，定增项目对私募机构的吸引力进一步增强。其 一，定增发行价通常较市价有一定折价，这为参与其中的私募机构提供了天然的成本'安全垫'；其二， 再融资政策持续优化、项目质量不断提升，也增强了机构在持股锁定期的信心；其三，退出渠道日趋多 元化，除传统二级市场减持外，协议转让等方式也为流动性管理增添了灵活性。此外，凭借专业的选股 能力与议价优势，私募机构在结构性行情中更容易捕捉超额收益，这也进一步激发了其参与定增市场的 积极性。" 珠海黑崎资本投资管理合伙企业(有限合伙)首席战略官陈兴文也持相同观 ...

点击 最 下方 关注《材料汇》 ， 点击"❤"和" "并分享 添加 小编微信 ，寻 志同道合 的你 正文 材料汇文章标签汇总 如何下载（加入知识星球-材料汇） 材料汇部分文章 未来40年材料强国革命：这13大领域将重塑人类文明！ 国产替代爆发！14种卡脖子的先进封装材料，百亿赛道谁将突围？ | 先进封装材料 | 全球市场规模 | 中国市场规模 | 国外企业 | 国内企业 | | --- | --- | --- | --- | --- | | PSPI | | | 微系统、AZ电子材料 | 鼎龙股份、国风新材、三月科 | | | | 5.28亿美元(23年 7.12亿元(21 | Fujifilm, Toray, HD | 技、八亿时空、强力新材、瑞 | | | 全球) . 预计 | 年中国)、预 | | 华泰、诚志殷竹、艾森股份、 | | | 2028年将达到 | 汁到2025年增 | | 奥采德:波米科技、明士新材 | | | 20.32亿美元 | 长至9.67亿元 | 、旭化成 | 、东阳华芯、上海玟昕、理硕 | | | | | | 科技等 | | 光敏绝缘 | 2020年:0.1亿 | | | | | ...

Core Insights - The article emphasizes the importance of efficiently navigating through a large volume of announcements to identify key investment opportunities and risks in the market [1] Group 1: Selected Highlights - On December 23, the article highlighted a significant overseas order worth 2.5 billion yuan for Baoshan Iron & Steel, which led to a 3.53% increase in its stock price on December 24 [2] - The article also noted that Jiufeng Energy signed an agreement with China Long March Rocket Co., which initially resulted in a less than 2% increase in stock price but later surged to a limit-up by the end of the trading day [2] Group 2: Today's Overview - A company in the aerospace and defense sector signed a contract for special functional materials for aircraft bodies worth 250 million yuan [3] - A company involved in power semiconductors and IGBT technology has undergone a change in actual control to the Hubei State-owned Assets Supervision and Administration Commission [3] - A company specializing in autonomous driving and automotive electronics has achieved regular L4-level autonomous driving operations within a closed park [3]

Core Viewpoint - The Hong Kong Stock Exchange (HKEX) has seen a significant increase in IPO activity, with 25 companies successfully listing in December alone, bringing the total for the year to 114, the highest in five years. Wallran Technology is set to be the first stock listed in 2026, with its IPO scheduled for January 2, 2024 [1]. IPO Information - Wallran Technology (06082.HK) is set to issue 94.69 million shares, with a price range of HKD 17 to 19.6. The company aims to raise approximately HKD 48.6 billion, with cornerstone investors committing around HKD 29 billion, representing 64% of the total offering [1][9]. - The IPO will have a public offering of 5% and an international placement of 95%, with a minimum subscription amount of HKD 3,960 [1]. Company Overview - Founded in 2019, Wallran Technology focuses on the design and development of GPU chips and intelligent computing solutions for AI applications [1]. - The company operates on a fabless model, outsourcing manufacturing and assembly to third-party contractors [2]. Financial Performance - Wallran Technology's revenue has shown significant growth, from HKD 499,000 in 2022 to HKD 62.03 million in 2023, and projected to reach HKD 336.8 million in 2024. However, the company has incurred substantial losses, totaling over HKD 6.3 billion from 2022 to mid-2025 [4][5]. - The company’s gross margin stands at 31.9%, which is lower than its competitors, indicating challenges in profitability despite revenue growth [5]. Market Position and Potential - In the Chinese smart computing chip market, Wallran Technology holds a mere 0.16% market share, with significant growth potential as the market is expected to grow from USD 30.1 billion in 2024 to USD 201.2 billion by 2029, at a CAGR of 46.3% [7][8]. - The company has established strategic partnerships in high-demand sectors such as AI data centers, telecommunications, and fintech, with contracts valued at approximately HKD 1.241 billion signed by December 2025 [3][8]. Competitive Landscape - Wallran Technology faces intense competition, particularly from Nvidia and Huawei, which dominate the market with a combined share of 94.4%. In the GPGPU segment, Nvidia holds a staggering 97.6% market share [7]. - Despite its small market share, Wallran Technology's unique GPGPU architecture and comprehensive software capabilities provide it with a competitive edge [6]. Investment Sentiment - The strong participation of cornerstone investors in Wallran Technology's IPO reflects confidence in its future growth prospects, which may stabilize its stock price post-listing [9].

Group 1: Livestock Industry - The pig industry is currently in a phase of deep losses, with supply contraction expected to continue into the first half of 2026, leading to a significant reduction in production capacity. The average pig price for 2025 is projected to be below the cost line, with quarterly estimates of 15.5 CNY/kg, 13.5 CNY/kg, 16.4 CNY/kg, and 17.7 CNY/kg, resulting in an annual average of approximately 13.4 CNY/kg [11][25][26] - The white chicken market is experiencing a cautious outlook, with a projected supply growth of less than 5% for 2026. The decline in the sales of commodity broiler chicks indicates a more conservative price expectation within the industry [30][35] - The yellow chicken sector remains stable, with production capacity not significantly affected. The prices are expected to follow trends in other protein sources, with a focus on seasonal price increases [39] - The beef market is anticipated to see a price increase due to a clear reduction in both domestic and international supply. The wholesale price of beef has been rising, reaching 66.21 CNY/kg in December, reflecting a year-on-year increase of 9.1% [42][70] Group 2: Agricultural Inputs and Other Sectors - The feed industry is showing signs of recovery, with a 6.6% year-on-year increase in feed production for the first three quarters of 2025, indicating improved demand from the livestock sector [71][76] - The edible mushroom sector is witnessing a rebound, particularly with the reversal of the predicament faced by enoki mushrooms and the potential growth of new products like Cordyceps [3][80] - The pet industry continues to thrive, with a notable trend towards high-end domestic products, as evidenced by the performance of brands like Guibao Pet and Zhongchong Co. [4][63] - The natural sweetener market is expected to grow as consumer awareness of sugar reduction increases, with companies like Bailong Chuangyuan and Baolingbao positioned to benefit from this trend [4][71]

12月24日，一则消息引发广泛关注：英伟达已告知中国客户，计划于2026年2月中旬（农历春节前）交 付AI芯片H200。 回顾过去三年，英伟达对中国市场的供应策略可谓步步退让。 2022年9月，美国首次禁止A100/H100对华出口，英伟达迅速推出"阉割版"A800/H800以维持中国市场营 收；2023年10月，美方再度收紧管制，连A800/H800也被列入禁售清单。同年12月，英伟达推出进一步 降标准的L20和H20芯片，但因性能缩水严重（H20算力约为H100的1/3）、价格却高达一半，被一些业 内人士怒斥为"智商税"。 彼时，中国市场几乎陷入"无高端GPU可用"的困境。尽管非官方渠道可能仍有少量H100/A100流入，但 价格翻倍、供应不稳，难以支撑大规模智算中心建设。与此同时，国家互联网信息办公室于2025年7月 底就H20芯片"漏洞后门安全风险"约谈英伟达，释放出对"特供版"安全性的高度警惕。 在此背景下，此时H200的回归显得颇为微妙。据蓉和半导体咨询CEO吴梓豪透露，基于性能密度 （TPP）来看，H200的算力值为15832，大约是H20的6.7倍。一方面，它确实填补了市场空白，可满足 大模型 ...

全球晶圆制造资本开支向上，带动洁净室设备需求旺盛。集成电路产业链几乎所有的主要环节（从单晶 硅片制造、到 IC 制造及封装）都需要在洁净室中完成，且随着技术的进步，集成电路对洁净度的要求 越来越高。美国于2022 年发布《芯片与科学法案》（CHIPS），旨在重振美国本土半导体产业，两年 多以来，美国已获得17 座新晶圆厂的建设承诺，总清洁室面积高达680 万平方英尺，并将新增8 座供应 链与先进封装设施，还推动十余个旨在现代化或扩大现有厂房规模的投资项目；英特尔、美光、三星、 SK 海力士与台积电这五家全球顶尖的逻辑芯片及动态随机存取存储器（DRAM）制造商均在美国投入 建设或扩张。美股的美光科技在近期财报中表示，因需求旺盛，目前全球范围内洁净室的建设周期正在 拉长，记忆/存储芯片供应短缺将在2026 年持续并维持更久，并将2026 财年资本开支预期从180 亿美元 提高至200 亿美元。在国产替代与供应链安全驱动下，我国国内的晶圆制造投资建设需求同样旺盛。 1、募投项目不及预期风险；2、海外扩张不及预期风险。 公司高毛利率的耗材业务营收占比预计将提升。半导体洁净室过滤器为耗材，配套风机过滤单元产品共 同销售 ...

12月24日，A股的存储芯片板块卷土重来，华海诚科（688535.SH）涨12.88%，德明利（001309.SZ）涨超9%，中芯国际 （688981.SH）、香农芯创（300475.SZ）、北京君正（300223.SZ）、江波龙（301308.SZ）、佰维存储（688525.SH）、普 冉股份（688766.SH）、恒烁股份（688416.SH）均录得上涨。港股方面，中芯国际(00981.HK)、华虹半导体(01347.HK)亦 表现不俗。 消息面，据韩国《朝鲜日报》消息，三星电子、SK海力士等存储供应商已上调明年HBM3E价格，涨幅接近20%。 供应方面，存储厂商预计明年第六代HBM（即HBM4）需求将增加，加大对其产能投入，导致HBM3E产能遭到积压。需求 方面，除了英伟达之外，来自谷歌、亚马逊等公司的订单量也大幅增加。 业内人士指出，本轮存储产品的涨价潮或超出市场预期。相关存储芯片产商的未来业绩有望大幅抬升，股价表现有望再超 预期。 摩根士丹利预测，鉴于明年存储领域可能出现供需失衡，内存芯片行业将迎来 "超级周期"。市场需求高企的背景下，存储 芯片行业也开始出现供不应求、涨价、转变订货模式等一系列连锁 ...

数据来源：天眼查APP 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，根据天眼查APP于12月14日公布的信息整理，成都澳世芯科技有限责任公司Pre-A轮融 资，融资额未披露，参与投资的机构包括创新工场。 澳世芯的核心产品是高精度、高可靠性时钟芯片，应用于高可靠性及科研仪器等领域。国内时钟芯片市 场始终被国际巨头牢牢占据，目前主流供应商为Skyworks、Microchip、TI、ADI等国际厂商，国产替代 需求强烈。澳世芯团队拥有国内少有的高性能时钟芯片研发能力,团队来自内地与澳门国际顶级模数混 合集成电路相关实验室，在全球顶级会议期刊ISSCC/JSSC发表多篇论文。 ...

| 代理 | 名称 | 涨跌幅 | 主力净流入额 ▼ | 5日主力净流入额 | 20日主力净流入额 | | --- | --- | --- | --- | --- | --- | | 801080 | 电子(申万) | 2.12% | 223.63亿 | 366.01亿 | 1316.63亿 | | 801740 | 国防军工(申万) | 2.88% | 159.59亿 | 276.86亿 | 759.03亿 | | 801730 | 电力设备(申万) | 1.03% | 125.71亿 | 285.98亿 | 732.08亿 | | 801890 | 机械设备(申万) | 1.49% | 81.03亿 | 300.08亿 | 971.12亿 | | 801750 | 计算机(申万) | 1.36% | 76.34亿 | 111.61亿 | 119.55亿 | 或由于英伟达预计春节前向中国客户交付H200芯片，今日（12月24日）英伟达产业链含量超27%的电 子ETF（515260）午后表现活跃，场内价格劲涨1.68%收于日内高点，一举收复60日均线，当前站在所 有均线上方，成功斩获日线3连阳！ 细分方向来看 ...