中国汽研所属申万行业为：汽车-汽车服务-汽车综合服务。所属概念板块包括：尾气处理、国资改革、 央企改革、燃料电池、汽车电子等。 中国汽研今年以来股价涨17.41%，近5个交易日涨14.45%，近20日涨9.74%，近60日涨16.85%。 资料显示，中国汽车工程研究院股份有限公司位于重庆市北部新区金渝大道9号，成立日期2001年1月11 日，上市日期2012年6月11日，公司主营业务涉及汽车技术服务和装备制造业务。主营业务收入构成 为：汽车技术服务业务89.80%，其中:整车及传统零部件开发和测评业务65.58%，其中:新能源及智能网 联汽车开发和测评业务16.21%，其中:测试装备业务8.01%，汽车燃气系统及关键零部件4.20%，专用汽 车改装与销售3.39%，轨道交通及专用汽车零部件2.62%。 1月21日，中国汽研盘中下跌2.01%，截至11:24，报19.49元/股，成交3.55亿元，换手率1.81%，总市值 195.50亿元。 资金流向方面，主力资金净流出1101.77万元，特大单买入1361.78万元，占比3.84%，卖出1703.79万 元，占比4.80%；大单买入5280.35万元，占比14 ...

Core Viewpoint - The global semiconductor industry is entering a new peak driven by the explosive demand from AI data centers, leading to a shortage of GPUs and soaring storage chip prices [3][6]. Group 1: Market Dynamics - Semiconductor companies are increasingly utilizing capital markets for expansion, with Demingli planning to raise 3.2 billion for SSD and memory product expansion, and Changxin Technology planning an IPO to raise 29.5 billion for storage technology upgrades [3][4]. - The demand for storage chips has surged, with prices increasing over 300% since September 2025 due to the explosive need for HBM and DDR5 driven by AI infrastructure [17][18]. Group 2: Company Performance - Tongfu Microelectronics, a leading semiconductor packaging and testing company, has a market share of 8.0% in the global third-party packaging market, ranking fourth globally [6][7]. - The company is heavily reliant on AMD, with 50.4% of its revenue coming from this single client, making it AMD's largest packaging supplier [8][10]. - AMD's strong performance, with a projected total revenue of $25.8 billion in 2024 (up 13.7% YoY) and a net profit of $1.641 billion (up 92.2% YoY), directly benefits Tongfu Microelectronics [10][12]. Group 3: Financial Strategies - Tongfu Microelectronics plans to raise up to 4.4 billion for expanding packaging capacity across four major chip categories, including storage and automotive applications [15][16]. - The company aims to address capacity bottlenecks to meet AMD's future large-scale demand, with significant investments planned for advanced chip packaging [15][21]. - The automotive electronics sector is also a focus, with a projected revenue increase of over 200% in 2024, indicating potential for a second growth curve [22][24]. Group 4: Financial Health - Despite the ambitious expansion plans, Tongfu Microelectronics faces financial challenges, with a significant debt load of approximately 180 billion against cash reserves of 56.41 billion [24][27]. - The company's aggressive investment strategy, while potentially increasing returns, also poses risks due to its reliance on a single major client and high debt levels [26].

证券日报网1月16日讯，通富微电（002156）在接受调研者提问时表示，公司是集成电路封装测试服务 提供商，为全球客户提供从设计仿真到封装测试的一站式服务。公司的产品、技术、服务全方位覆盖了 人工智能、高性能计算、大数据存储、显示驱动、5G等网络通讯、信息终端、消费终端、物联网、汽 车电子、工业控制等多个领域，满足了客户的多样化需求。公司紧紧抓住市场发展机遇，面向未来高附 加值产品以及市场热点方向，立足长远，大力开发扇出型、圆片级、倒装焊等封装技术并扩充其产能； 此外，积极布局Chiplet、2D+等顶尖封装技术，形成了差异化竞争优势。 ...

Core Insights - The company, Huaqin Technology, reported a total R&D expenditure of 4.62 billion RMB for the first three quarters of 2025, representing a year-on-year increase of 23.7%, with an expectation to exceed 6 billion RMB for the entire year [2] Group 1 - The company emphasizes the importance of collaborative win-win strategies in its operations [2] - During the CES exhibition, Huaqin Technology showcased its core technological breakthroughs in consumer electronics, automotive electronics, PC, and AIoT, highlighting its R&D innovation capabilities and ecosystem collaboration [2] - The company's R&D investment focuses on a product layout of 3+N+3 and supports business growth needs, while also allocating resources for forward-looking research in areas such as acoustics, optics, thermodynamics, and radio frequency [2] Group 2 - Huaqin Technology has established an X-lab R&D laboratory to explore new technologies and product directions, including AI edge computing, super nodes, and automotive electronics [2] - The company maintains close collaboration with upstream and downstream partners in the industry chain to jointly explore smart hardware solutions, such as the high-level autonomous driving collaboration with NVIDIA on the Drive Thor platform [2]

大河财立方《极刻》第1079篇 去年三季度营收过百亿 招股书显示，天海电子注册地址位于河南省鹤壁市经开区，是国内领先的汽车电子电器系统供应商，核心业务聚焦汽车线束、汽车连接器、汽车电子等产 品的研发、生产与销售，致力于为整车厂商提供传输系统、连接系统、智能控制等一体化解决方案。 【大河财立方 记者 夏晨翔】1月16日，天海汽车电子集团股份有限公司（以下简称"天海电子"）经深圳证券交易所创业板上市委员会审议，成功过会。 这场始于2017年7月的IPO长跑，历经39期辅导、多重资本运作与行业周期考验，最终迎来关键突破。 | 公司全称 | 天海汽车电子集团股份有限公司 | 公司简称 | 天海电子 | | --- | --- | --- | --- | | 受理目期 | 2025-06-26 | 更新日期 | 2026-01-16 | | 审核状态 | 上市委会议通过 | 预计融资金额(亿元) | 24.6042 | | 保荐机构 | 招商证券股份有限公司 | 保存代表人 | 鄢坚,张茜 | | 会计师事务所 | 信永中和会计师事务所(特殊普通合 | 签字会计师 | 文娜杰，彭秋华，严杰 | | | 伏) | | | ...

Investment Rating - The report maintains a "Recommended" rating for the company, Unisoc (stock code: 002049) [1]. Core Insights - Unisoc is expanding its power semiconductor product layout to explore new business growth drivers. The company plans to acquire 100% equity of Ruineng Semiconductor at a price of 61.75 yuan per share, which will enhance its power semiconductor product matrix and complete its semiconductor industry chain [4]. - The acquisition is expected to enrich the product matrix, allowing Unisoc to quickly fill manufacturing gaps and leverage shared customer resources to accelerate expansion in industrial and automotive electronics [4]. - The target company reported revenues and net profits of 830 million yuan and 101 million yuan for 2023, respectively, which will contribute positively to Unisoc's performance [4]. - Unisoc's new product iterations are accelerating, with advancements in high-performance products and a focus on aerospace-grade markets, which are expected to drive growth in multiple product lines [4]. - The company is establishing a new subsidiary, Unisoc Tongxin Technology, to focus on automotive electronics, which is anticipated to create a second growth curve for the company [4]. - The implementation of an employee stock ownership plan is expected to enhance employee motivation and support sustained growth in the future [4]. Financial Projections - The company forecasts revenues of 6,422 million yuan in 2025, 7,368 million yuan in 2026, and 8,378 million yuan in 2027, with corresponding net profits of 1,668 million yuan, 1,942 million yuan, and 2,431 million yuan [5][7]. - The projected EPS for the same years is 1.96 yuan, 2.29 yuan, and 2.86 yuan, with P/E ratios of 44.16, 37.92, and 30.30, respectively [5][7]. - The gross margin is expected to remain stable around 56.5% for 2025 and 2026, slightly decreasing to 56.3% in 2027 [5][7].

补全功率半导体产业链，拓展新业务增长点。公司拟以61.75 元向关联方在内的14 家股东发股收购瑞能 半导100%股权，同步配融不超100%。标的原为恩智浦双极功率器件业务部门，现主营功率半导体研 制，拥有芯片设计、晶圆制造和封测一体化经营能力，主要产品为晶闸管、功率二极管、碳化硅二极 管、碳化硅MOSFET、IGBT 及功率模块等。 股权激励落地实施，未来持续增长有保障。公司股权激励于2025 年11 月11 日完成首次授予。费用方 面， 激励实施后25-29 年每年摊销费用为0.29/1.65/1.06/0.54/0.18 亿。业绩考核方面，以2024 年为基 数，公司2025-2028 年的扣非净利润增速需分别不低于10%、60%、100%和150%，约为 10.2/14.8/18.5/23.2 亿元，四年复合增速25.7%。加回支付费用和非经常损益后，目标归母净利约为 12.2/18.2/21.3/25.1 亿，四年复合增速21%。此次激励的落地将有效提升员工积极性，为公司未来持续增 长提供支撑。 投资建议： 不考虑本次收购， 预计公司2025-2027 年净利润分别为16.7/19.4/24.3 亿 ...

长源东谷所属申万行业为：汽车-汽车零部件-底盘与发动机系统。所属概念板块包括：中盘、基金重 仓、汽车电子、低空经济、新能源车等。 截至9月30日，长源东谷股东户数1.22万，较上期增加11.14%；人均流通股26488股，较上期减少 10.03%。2025年1月-9月，长源东谷实现营业收入16.48亿元，同比增长29.75%；归母净利润2.74亿元， 同比增长76.71%。 分红方面，长源东谷A股上市后累计派现4.48亿元。近三年，累计派现6979.63万元。 1月16日，长源东谷盘中上涨2.01%，截至13:46，报31.51元/股，成交1.03亿元，换手率1.03%，总市值 102.13亿元。 资金流向方面，主力资金净流出254.22万元，特大单买入186.95万元，占比1.81%，卖出316.90万元，占 比3.07%；大单买入1651.24万元，占比15.99%，卖出1775.51万元，占比17.19%。 长源东谷今年以来股价涨8.84%，近5个交易日跌3.37%，近20日涨10.68%，近60日跌10.69%。 资料显示，襄阳长源东谷实业股份有限公司位于湖北省襄阳市襄州区钻石大道(洪山头工业园)，成 ...

每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 资金面看，软件ETF（515230）近20日资金净流入超27亿元，汽车电子芯片数量翻倍增长。 华创证券指出，半导体测试设备行业正处于周期复苏与结构升级共振的关键窗口，在AI算力、先 进封装与汽车电子"三轮驱动"下开启量价齐升窗口期。AI算力芯片复杂度跃迁导致测试向量深度指数级 膨胀，单芯片测试时间成倍延长，驱动机台需求"量增"；同时，千瓦级功耗芯片对设备的主动热管理及 信号完整性提出极端要求，推升单机价值量。先进封装使得KGD测试成为刚需，测试节点前移；异构 集成推动SLT系统级测试需求，形成了ATE之外的流程新增量。汽车电子芯片数量翻倍增长，AEC- Q100严苛标准下的三温循环测试使得三温设备需求刚性放大。测试设备贯穿制造全流程且后道价值量 集中，是决定产能效率与产品良率的关键瓶颈。 软件ETF（515230）跟踪的 ...

Group 1 - The core viewpoint of the news is that 深科技 (Shenzhen Technology) has shown significant stock performance and financial growth, with a notable increase in share price and revenue [1][2]. - As of January 16, 深科技's stock price increased by 2.17% to 28.71 CNY per share, with a total market capitalization of 451.23 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 13.57%, with a 21.45% increase over the past 20 trading days [1]. Group 2 - For the period from January to September 2025, 深科技 reported a revenue of 11.278 billion CNY, reflecting a year-on-year growth of 3.93%, and a net profit of 756 million CNY, which is a 14.27% increase [2]. - The company has distributed a total of 3.958 billion CNY in dividends since its A-share listing, with 702 million CNY distributed over the past three years [3]. - As of September 30, 2025, the top ten circulating shareholders of 深科技 include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with notable changes in their holdings [3].