科创芯片ETF国泰（589100）跟踪的是科创芯片指数（000685），单日涨跌幅限制达20%。该指数从科 创板市场中选取涉及芯片材料、设计、制造、封装测试等全产业链环节的上市公司证券作为指数样本， 以反映科创板芯片产业相关上市公司证券的整体表现。 （文章来源：每日经济新闻） 申万宏源证券指出，算力行业投资逻辑正向"效率优先、商业转化率优先"全面转型，行业核心诉求 从"无上限的远期规模扩张"转向"有边界、可落地、与商业化节奏高度匹配的精准投入"。全球半导体产 业链正迎来一轮覆盖全环节、多品类的系统性涨价潮，呈现出全链条传导、海内外共振的鲜明特征。从 上游晶圆制造、封装测试的产能报价，到中游存储芯片、MCU、模拟芯片、功率半导体的终端产品定 价，再到配套的被动元件、连接器等核心辅材，全产业链条同步开启价格重塑。 ...

半导体板块上涨，中韩半导体ETF今日继续飙涨8%，年内涨幅超66%，成为全市场表现最好的ETF。 海力士在会议中透露了一个关键事实："今年没有任何一家客户能够完全满足其存储需求。"这意味着所 有终端市场的需求满足率都处于低位。从库存角度看，服务器客户的库存已达到健康水平，而PC和移 动客户的库存正呈现下降趋势。对于市场最关注的HBM（高带宽内存），海力士明确表示，2026年的 产能分配已成定局，"2026年的HBM已全部售罄，满足客户需求的生产计划已经分配完毕。" 申万宏源证券认为，本轮涨价潮呈现出全链条传导、海内外共振的鲜明特征，在AI资本开支加速与金 银铜等金属上行共振下，于26年一季度形成"淡季不淡"的全面通胀格局。全球半导体产业链正迎来一轮 覆盖全环节、多品类的系统性涨价潮，从上游晶圆制造、封装测试的产能报价，到中游存储芯片、 MCU、模拟芯片、功率半导体的终端产品定价，再到配套的电阻、电感等被动元件、连接器等核心辅 材，全产业链条同步开启价格重塑。当前电子产业链呈"三线并进"的系统性涨价：景气拉动型（存储、 CPU、ABF载板）、成本传导型（CCL/电子布/铜箔、被动元件、封测/代工）、供给收缩（利 ...

Core Viewpoint - The semiconductor industry is experiencing a price increase due to supply-demand tension and rising costs, as evidenced by price hikes from domestic companies Guokewai and Zhongwei Semiconductor [1][2]. Group 1: Price Increases - Guokewai announced price increases for its KGD series products, with specific hikes of 40% for 512Mb KGD, 60% for 1Gb, and 80% for 2Gb, driven by a widening storage chip gap and rising costs in packaging and testing [1]. - Zhongwei Semiconductor raised prices for its core products, including MCUs and Nor flash, by 15% to 50%, citing increased manufacturing costs and longer delivery cycles [1]. Group 2: Market Reaction - Following the price announcements, the semiconductor sector saw a positive response in the capital markets, with Guokewai's stock rising by 5.91% and Zhongwei Semiconductor's by 6.35% on January 27 [2]. Group 3: Industry Trends - The price increase from these companies reflects a broader trend in the semiconductor industry, with Samsung Electronics raising NAND flash contract prices by over 100% and other segments like wafer foundries and passive components also initiating price hikes [4]. - Factors contributing to this trend include surging AI computing demands, production cuts from overseas wafer fabs, and rising prices of raw materials like silver and copper, indicating that future price movements will closely align with supply-demand dynamics and cost fluctuations [4].