智通财经APP讯，芯原股份(688521.SH)发布2025年年度业绩快报，公司预计2025年度实现营业收入约 31.52亿元，较2024年度增长35.77%。2025年下半年，公司预计实现营业收入21.79亿元，较2025年上半 年增长123.73%，较2024年下半年增长56.75%。 具体而言，2025年度，公司预计量产业务收入同比增长73.98%，芯片设计业务收入同比增长20.94%， 特许权使用费收入同比增长7.57%，知识产权授权使用费业务收入同比增长6.07%。2025年度，公司预 计来自数据处理领域的营业收入同比增长超95%，收入占比约34%。 目前公司新签订单以及在手订单情况屡创新高，随着订单的不断转化，公司营业收入快速增长，公司盈 利能力逐步提升，业务规模效应持续显现，预计2025年度实现归属于母公司所有者的净利润-5.28亿 元，与上年同期(法定披露数据)相比，亏损同比收窄0.73亿元，收窄比例为12.16%。2025年下半年，公 司预计实现归属于母公司所有者的净利润-2.08亿元，较2025年上半年收窄34.98%，较2024年下半年收 窄34.20%。 ...

报告期内，公司各下游应用市场需求结构分化明显，部分产品线的市场销售情况呈现较大幅度波动。受 益于近年来持续完善在高附加值市场的产品布局，并不断加强对新产品的推广、销售及综合服务力度， 公司DDR5SPD芯片、汽车级EEPROM芯片和高性能工业级EEPROM芯片的出货量较上年同期实现快速 增长，光学防抖式(OIS)摄像头马达驱动芯片搭载在主流智能手机品牌的多款中高端机型实现商用，产 品销售结构得到进一步优化，带动公司综合毛利率较上年同期增加2.46个百分点，较好缓解了部分下游 应用市场需求波动带来的影响，成为公司收入规模扩张和盈利能力提升的重要驱动力。 智通财经APP讯，聚辰股份(688123.SH)披露2025年度业绩快报，2025年度公司实现营业收入12.21亿 元，同比增长18.73%;归属于母公司所有者的净利润3.63亿元，同比增长25.01%。 ...

2月13日，科创芯片延续强势，全"芯"科创芯片ETF华宝（589190）场内价格续涨逾1%。富创精密涨超14%，盛科通信-U涨超11%，杰华特、芯原微、拓荆 科技、华虹公司等涨幅居前。 | 分时 多日 1分 5分 15分 30分 60分 = | 综合屏 F9 前复权 超级叠加 画线 工具 Φ 2 > | | 科创市 | | | --- | --- | --- | --- | --- | | 589190 H - 芯AETF . [ 026/01/27 收1.020 幅2.00%(0.020) 开0.999 高1.025 低0.981 均 四 | | | | | | | | | 0198 | | | | 2026/01/27-2026/02/13(14日)▼ | | | SSE CNY 10:26:12 交易中 | | +1.040 | | | 净值走势 | सह | | | | 1.030 | 要比 | -21.42% 3 | | | | | F | 0.9 | | | | | 卖口 | 0.98 | | | | | | 0.91 | | | | | | 0.98 | | | | 1.000 | | 0.9 ...

Group 1 - The core viewpoint of the articles indicates a downward trend in semiconductor-related indices, with the China Securities Semiconductor Materials and Equipment Theme Index down by 1.0%, the Shanghai Stock Exchange Sci-Tech Innovation Board Chip Design Theme Index down by 1.2%, the China Securities Chip Industry Index down by 1.3%, and the Shanghai Stock Exchange Sci-Tech Innovation Board Chip Index down by 1.5% [1] - China Galaxy Securities believes that the current moment marks a new starting point for the next cycle in the storage chip sector, driven by rapid growth in AI server demand and domestic substitution, and sees investment opportunities in related listed companies within the domestic storage industry chain [1] Group 2 - The China Securities Chip Industry Index consists of 50 stocks involved in chip design, manufacturing, packaging and testing, as well as semiconductor materials and production equipment, with over 95% of the index focused on the semiconductor industry [3] - The index has experienced a decline of 1.3% and has a rolling price-to-earnings ratio of 136.4 times since its inception [3] - The Shanghai Stock Exchange Sci-Tech Innovation Board Chip Index, which includes 50 leading chip stocks, also focuses on semiconductor materials and equipment, chip design, manufacturing, and packaging, with over 95% of the index dedicated to the semiconductor industry [3] - This index has decreased by 1.5% and has a rolling price-to-earnings ratio of 195.1 times since its inception [3]

| 云计算ETF易方达(NO21 | | | 516 | | --- | --- | --- | --- | | | 跟踪中证云计算与大数据主题指数。 | | | | | | | ·· | | 该指数由50只业务涉及提 | 截至午间收盘 | 该指数 | 该指数自20 | | 供云计算服务、大数据服务 | 该指数涨跌 | 滚动市销率 | 发布以来估值 | | 以及上述服务相关硬件设备 | | | | | 的公司股票组成,覆盖云计 | 1.1% | 5.2倍 | 99.29 | | 算产业链。 | | | | | 芯片ETF易方达 | | | 516 | | 跟踪中证芯片产业指数 | | | | | | | | ·· | | 该指数由50只业务涉及芯 | | | | | 片设计、制造、封装与测 | 截至午间收盘 | 该指数 | 该指数自20 | | 试以及半导体材料、半导 | 该指数涨跌 | 市净率 | 以来估值分 | | 体生产设备等公司股票组 | | | | | 成,聚焦未来计算的核心 硬件环节。 | -0.1% | 7.6倍 | 90.19 | 截至午间收盘，中证半导体材料设备主题指数上涨2.1%，中证云计 ...

Group 1 - The report highlights the active participation of the Chengdu Municipal Committee of the Chinese People's Political Consultative Conference in contributing to the modernization of Chengdu, aligning with national and local strategic goals [1] - A total of 831 proposals were received, with 492 officially registered, including 53 merged proposals, indicating a strong engagement from committee members [1] - The proposals cover various areas, including enhancing urban development, promoting technological innovation, and improving public welfare, reflecting a comprehensive approach to city governance [1][2][3][4] Group 2 - The proposals related to enhancing urban development focus on building strategic industrial chains and improving talent mobility, with 36 proposals registered in this category [2] - A significant emphasis is placed on technological and industrial innovation, with 127 proposals aimed at fostering collaboration between state-owned and private enterprises and enhancing the digital economy [2] - The report also addresses the need for deep reforms and high-level openness, with 31 proposals aimed at improving resource allocation and promoting international medical tourism [3] - Cultural innovation is highlighted with 62 proposals aimed at enhancing the city's cultural influence and developing creative industries [3] - The focus on improving public welfare is evident with 125 proposals aimed at enhancing education, employment support, and healthcare services [4] - Environmental sustainability is addressed with 22 proposals aimed at promoting green transformation and improving urban ecological systems [4] - Governance improvements are proposed through 48 initiatives aimed at enhancing urban management and community engagement [4]

Core Insights - The launch of the first domestic chip ETF exceeding 50 billion yuan signifies strong market recognition of the investment value in the semiconductor sector, reflecting ongoing enthusiasm for core technology assets amid supportive policies and accelerated domestic substitution [1][3] Group 1: ETF Performance and Market Dynamics - The Jiashi Fund's Sci-Tech Chip ETF (588200) has reached a scale of 50.343 billion yuan, marking a new high since its listing and becoming the first chip ETF in China to surpass the 50 billion yuan threshold [1] - The ETF tracks the Shanghai Stock Exchange Sci-Tech Board Chip Index, covering high-quality companies across the semiconductor industry chain, including leaders like Zhongwei Company and Tuojing Technology, which helps capture overall industry growth while mitigating individual stock volatility [3] - Other chip ETFs, such as E Fund's Sci-Tech Chip ETF (589130) and Guolian An's Sci-Tech Chip Design ETF (588780), have also seen significant inflows, indicating a consensus on the long-term value of the chip industry [3] Group 2: Policy Support and Industry Growth - Continuous policy support is identified as a key driver for the explosive growth of chip ETFs, with the semiconductor industry policy support intensifying since the beginning of 2026, including the establishment of the third phase of the semiconductor fund with a total scale exceeding 350 billion yuan [4] - The Ministry of Industry and Information Technology has introduced special subsidy policies, allowing domestic wafer fabs to receive up to 15% subsidies for purchasing domestic semiconductor equipment, thereby accelerating the domestic substitution process [4] - Major domestic wafer fabs are actively expanding production, with significant investments announced, such as 7.6 billion USD by SMIC and 6.7 billion USD by Huahong Wuxi, which are expected to drive performance expectations for industry chain companies [4] Group 3: Domestic Substitution and Market Recovery - The acceleration of domestic substitution in the semiconductor industry and signs of cyclical recovery provide solid fundamental support for ETF growth, with the domestic semiconductor equipment localization rate rising from 25% in 2025 to 35% by early 2026 [5] - Key equipment replacement rates have exceeded 40%, and the proportion of domestic equipment in new wafer production lines has reached 55%, surpassing market expectations [5] - The semiconductor industry is showing clear signs of recovery, with DRAM contract prices increasing by over 50% and flash memory prices rising by over 30%, further driving equipment procurement by domestic manufacturers [5]

Group 1 - The index experienced a decline of 1.3% at midday closing [1] - The price-to-book ratio stands at 8.3 times [1] - The valuation score since 20 has reached 95.99 [1]

Group 1 - The AI hardware sector continues to experience fluctuations, with the CSI Cloud Computing and Big Data Theme Index down by 2.8%, the CSI Semiconductor Materials and Equipment Theme Index down by 0.7%, and the CSI Chip Industry Index down by 0.6% as of January 20 [1] - The semiconductor equipment ETF managed by E Fund (159558) saw a net subscription of nearly 30 million units throughout the day, indicating strong investor interest [1] - Year-to-date, the semiconductor equipment ETF and the cloud computing ETF have attracted net inflows of 2.17 billion yuan and 910 million yuan, respectively [1] Group 2 - Dongwu Securities research report highlights that domestic semiconductor equipment is entering a historic development opportunity, with a significant expansion cycle expected to begin in 2026 [1] - The report anticipates that the order growth rate for the entire semiconductor equipment industry will exceed 30% [1]

Group 1 - The China Securities Cloud Computing and Big Data Theme Index decreased by 2.5%, while the China Securities Chip Industry Index fell by 0.2%, and the China Securities Semiconductor Materials and Equipment Theme Index dropped by 0.8% as of the midday close [1][4] - The semiconductor equipment ETF managed by E Fund (159558) saw a net subscription of 22 million units during the half-day period [1] Group 2 - The index consists of 50 stocks involved in chip design, manufacturing, packaging, testing, semiconductor materials, and semiconductor production equipment, focusing on the core hardware aspects of future computing [3] - The semiconductor equipment ETF tracks the China Securities Semiconductor Materials and Equipment Theme Index, which is composed of 40 stocks related to semiconductor materials and equipment, emphasizing the hardware foundation for future computing [4]