2月25日，A股市场高开高走，午后小幅回落后再度拉升，创业板指、深成指均涨超1%。截至收盘，沪 指涨0.72%，深成指涨1.29%，创业板指涨1.41%。沪深两市成交额2.46万亿，较上一个交易日放量2605 亿。 1、有色金属板块走高 小金属、贵金属等有色板块大涨，东方钽业、华锡有色、中钨高新等多股涨停。 | | | 有色金属(01801050) 10253.53 +344.64 +3.48% | + 板块 | | --- | --- | --- | --- | | 股票名称 | 最新价 | 主力净流入 | 涨跌幅 | | 寒锐钻业 300618 | 53 | -5204.6万 | +13.83% (+) | | 安宁股份 sz 002978 | 41.23 | 7162.6万 | +10.01% (+) | | 华锡有色 SH 600301 | 56.84 | 1.2亿 | +10.01% + | | 云南错业 sz 002428 | 40.35 | 5.1亿 | +10.01% + | | 东方锂业 sz 000962 | 51.32 | 2.3亿 | +10.01% + | 点评：中银证券发布研报称， ...

有券商表示，稀土作为高端制造与战略新兴产业的核心资源，正呈现供需两端共振格局。在供给集中度提升与需求结构升级的背景下，稀土产业链的战略地 位有望进一步巩固，为高端制造发展注入长期驱动力。 下跌方面，标普油气相关ETF跌幅居前。 | 代码 | 名称 | 现价 | 涨跌幅 | 估算规模(亿) | | --- | --- | --- | --- | --- | | 159518.SZ << 标普油气ETF嘉实 | | 1.071 | -2.72%> | 14.812 | | 513350.SH | 标普油气ETF | 1.141 | -1.81% | 6.868 | | 562030.SH | 信创ETF基金 | 0.567 | -1.39% | 1.11 | | 159725.SZ | 线上消费ETF工银 | 1.039 | -1.24% | 1.269 | | 516190.SH | 传媒ETF华夏 | 1.383 | -1.14% | 2.061 | | 589030.SH | 科创芯片设计ETF易方达 | | 1.037 -1.05% | 4.657 | | 159728.SZ 在线消费ETF南方 | | ...

Group 1 - The core point of the article highlights the successful IPO approval of Shenghe Jingwei, which, if successful, will become the first A-share listed company focused on wafer-level advanced packaging [1] - During the Spring Festival, multiple cloud service providers are actively advancing data center construction, indicating a sustained high demand in the computing hardware supply chain [1] - According to招商证券, the storage sector is expected to experience a significant performance release this year due to the resonance of price and demand, with a focus on the market price trends and the sustainability of performance growth across various segments [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Index (950125) account for 73.89% of the index, indicating a concentrated investment in key players [2]

Core Viewpoint - The company expresses strong disappointment and dissatisfaction with the recent ruling by the Dutch Enterprise Court regarding the case of Nexperia, which did not revoke previous erroneous decisions and failed to restore the company's legitimate control as a shareholder of Nexperia [1][2] Group 1: Court Ruling and Its Implications - The Enterprise Court has maintained temporary measures against the company and an individual, which are causing irreversible damage to a previously successful global semiconductor leader, affecting over 10,000 employees and more than 25,000 customers [2] - The court's decision to initiate an investigation while simultaneously upholding these temporary measures is seen as contradictory and illogical, as it allows the current management to continue detrimental actions against the company [2] Group 2: Company's Stance on Investigation - The company welcomes a fair and transparent investigation, believing that the truth will ultimately support its position that all actions taken were legal, compliant, and in the best interest of all stakeholders [3] - The court has expanded the investigation to include the current temporary management of Nexperia, confirming several claims made by the company regarding the dispute [3] Group 3: Future Actions and Business Overview - The company will continue to pursue all legal avenues to restore its full legitimate control and governance over Nexperia, viewing this as the only correct path to stabilize the semiconductor industry [4] - The company operates two main business segments: semiconductor and product integration, providing semiconductor power devices, analog chips, and manufacturing services for various end products [4]

闻泰科技最新声明。 全文如下： 闻泰科技注意到今日荷兰阿姆斯特丹企业法庭（"企业法庭"）针对安世半导体案件做出最新 裁决。企业法庭并未撤销此前的错误决定，未能解除对安世半导体实施的临时措施，亦未能 恢复闻泰科技作为安世半导体股东的合法控制权。企业法庭同时裁定对安世半导体启动调查 程序。我司对这一裁决表示极为失望与强烈不满。 企业法庭一方面维持了2025年10月以来针对我司及张学政先生的错误临时措施——这一措 施正在持续、不可逆地摧毁一家原本运营卓越、贡献卓著的全球半导体领军企业，损害上万 名员工、逾2.5万家客户及全球产业链的利益；另一方面却裁定启动所谓"调查程序"，将案件 拖入漫长的第二阶段。这是一项自相矛盾、逻辑断裂的裁决：法庭一面承认相关事项仍有待 调查，一面却继续维持基于片面不实信息作出的临时措施；一面认可有必要将调查范围扩大 至现任管理层，一面却纵容同一批临时管理层继续把持公司，实质上放任了他们继续破坏公 司运营、切割核心资产、危害全球供应链稳定的行为。一个真正致力于维护"企业最佳利 益"的法庭，怎么会放任现任管理层继续推动一家原本卓越和成功的公司走向衰败，并在此基 础上进行所谓的"调查"。 闻泰科 ...

Core Viewpoint - The company expresses strong disappointment and dissatisfaction with the recent ruling by the Dutch Enterprise Court regarding the case of Nexperia, which did not revoke previous temporary measures against the company and did not restore its legitimate control rights as a shareholder of Nexperia [1][2]. Group 1: Court Ruling and Its Implications - The Enterprise Court has maintained erroneous temporary measures since October 2025, which are causing irreversible damage to a previously successful global semiconductor leader, affecting over 10,000 employees and more than 25,000 customers [2]. - The court's decision to initiate an investigation while simultaneously upholding these temporary measures is seen as contradictory and illogical, as it allows the current management to continue actions that harm the company's operations and global supply chain stability [2]. Group 2: Company's Stance on Investigation - The company welcomes a fair and transparent investigation, believing that any objective and professional inquiry will confirm that its actions regarding Nexperia have been legal, compliant, and in the best interests of all stakeholders [3]. - The court has expanded the investigation to include the current temporary management of Nexperia, acknowledging several claims made by the company regarding the dispute [3]. Group 3: Future Actions and Business Overview - The company will continue to pursue all legal avenues to restore its full legitimate control and governance rights over Nexperia, viewing this as the only correct path to stabilize the semiconductor industry and protect stakeholder interests [4]. - The company operates two main business segments: semiconductor and product integration, providing semiconductor power devices, analog chips, wafer manufacturing, and packaging testing, as well as R&D and manufacturing services for various end products [4].

Group 1: Industry Developments - The Ministry of Finance and the People's Bank of China have included electronic savings bonds in personal pension products to support the development of a multi-tiered pension system, which is expected to enhance investor enthusiasm and improve the quality of the personal pension system [2] - A shift in the collaboration model between banks and fund companies is observed, moving from a focus on product sales to a more service-oriented approach, emphasizing long-term customer value [4] - The Hong Kong Monetary Authority has released a financial technology promotion blueprint aimed at fostering responsible innovation and enhancing cross-border collaboration in the financial sector [12] Group 2: Market Trends - In January 2026, A-share new account openings surged to 4.9158 million, a 213% increase year-on-year, indicating a strong market interest [10] - The scale of public fund of funds (FOF) has reached a historical high of over 240 billion, driven by low interest rates and a demand for low-volatility products [11] - The semiconductor sector is highlighted as a key investment area, with fund managers noting significant growth potential in the domestic semiconductor industry over the next 3-5 years [15][16] Group 3: Regulatory Changes - The China Securities Regulatory Commission has introduced new guidelines for public fund performance benchmarks to address issues like "style drift" and ensure investor interests are prioritized [6][17] - The new regulations aim to standardize performance benchmarks and improve transparency in fund management practices [6][17] Group 4: Fund Launches - A total of 29 new public funds are set to launch in the first week of February 2026, with equity funds making up the majority [9] - The average subscription period for these new funds is approximately 12 days, indicating strong investor interest [9] Group 5: Stock Performance - In January 2026, 207 out of 307 recommended stocks by brokers saw price increases, with some stocks experiencing nearly 100% gains, reflecting a positive market outlook [14] - The Hang Seng Biotechnology Index recorded a 64.5% increase last year, marking its highest annual gain since inception [8]

Core Viewpoint - Tianyu Semiconductor (02658) experienced a strong stock performance, closing at 48.9 HKD with a 4.09% increase, following the announcement of a strategic cooperation agreement with South Korean semiconductor manufacturer EYEQ Lab [1] Group 1: Strategic Cooperation - The agreement establishes a long-term partnership focused on the supply and application of silicon carbide (SiC) epitaxial wafers [1] - Tianyu Semiconductor will provide high-quality SiC epitaxial wafers ranging from 6 to 8 inches and voltage ratings from 650V to 20,000V, suitable for both unipolar and bipolar power electronic devices [1] - EYEQ Lab will have priority in purchasing the SiC epitaxial wafers from Tianyu Semiconductor under the same conditions, with the agreement valid for three years [1] Group 2: Benefits and Market Position - The board believes that the strategic cooperation aligns with the overall interests of the company and its shareholders, promoting long-term development [1] - Both parties will leverage their respective strengths: Tianyu Semiconductor's industrial capabilities and scale in the SiC epitaxial wafer field, and EYEQ Lab's technical expertise in SiC power device design and manufacturing [1] - The collaboration aims to accelerate the large-scale commercialization of products and expand market space, further solidifying the company's competitive position in the global semiconductor supply chain [1]

Group 1 - The market experienced a volatile adjustment in the morning, with all three major indices falling over 1%, and the CSI A500 index down by 1.41% [1] - The electric grid equipment sector showed resilience, while the liquor sector was active, and there were localized gains in AI applications; however, resource stocks and the semiconductor industry faced collective declines [1] - As of the morning close, ETFs tracking the CSI A500 index fell over 1%, with 10 related ETFs trading over 100 million yuan, and 2 exceeding 8.9 billion yuan in trading volume [1] Group 2 - Some brokerages indicated that the sharp fluctuations in international precious metal prices and large-scale sell-offs of broad-based A-shares ETFs have led to liquidity pressures, resulting in a noticeable decline in sentiment indices [1] - The seasonal effect of sentiment index decline before the Spring Festival is expected to contribute to short-term market pressures, including a cooling of sentiment and index pullback [1]

Market Overview - The A-share market experienced a volatile adjustment today, with all three major indices falling over 1%, and the ChiNext index opening high but closing lower, while the Sci-Tech 50 index dropped over 2% [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.64 trillion yuan, a decrease of 290.4 billion yuan compared to the previous trading day [1] Sector Performance - The electric grid equipment sector showed resilience, with companies like Sanbian Technology, Baobian Electric, and Shuangjie Electric hitting the daily limit [3] - The liquor sector was actively trading, with Huangtai Liquor achieving three consecutive trading limits and Shuijingfang reaching the daily limit [3] - The film and television industry also performed well, with Hengdian Film and Television achieving three consecutive trading limits [3] - In the AI application sector, there were localized gains, with Yaowang Technology hitting the daily limit and Tongda Hai rising over 15% [3] Declines - Resource stocks collectively adjusted, with significant declines in non-ferrous metals and oil and gas sectors, leading to a sharp drop in gold stocks, including companies like Zhaojin Gold, Sichuan Gold, Zhongman Petroleum, and Zhun Oil, which all hit the daily limit down [3] - The semiconductor industry chain saw a collective decline, with Wentai Technology hitting the daily limit down and companies like Kaipu Cloud and Mingwei Electronics dropping over 10% [3] - By the end of the trading session, the Shanghai Composite Index fell by 1.32%, the Shenzhen Component Index by 1.41%, and the ChiNext Index by 1.18% [3]