3 月 3 日，兆易创新科技集团股份有限公司（证券代码：603986，下称 "兆易创新"）发布公告称，公司 拟以自有资金 4 亿元作为有限合伙人，认购上海石溪兆易智芯创业投资合伙企业（有限合伙，拟定名， 下称 "产业基金"）25.87% 的基金份额，成为该基金第一大有限合伙人。本次投资事项已通过公司第五 届董事会第九次会议审议，不构成关联交易及重大资产重组，也无需提交公司股东会审议。 据悉，该产业基金总认缴出资额达 15.46 亿元，上限为 20 亿元，由北京石溪清流私募基金管理有限公 司担任普通合伙人及基金管理人，上海国投先导集成电路私募投资基金、东莞信托、横琴粤澳深度合作 区产业投资基金等 9 家机构及自然人吕大龙为其他有限合伙人，各方将共同参与集成电路领域的产业投 资布局。 从基金定位来看，这是一只聚焦集成电路赛道的专业创投基金，明确要求投向集成电路领域的投资额不 低于基金认缴总额的 70%，投资标的锁定行业内未上市的早期企业、中小企业及高新技术企业，将围 绕集成电路产业链上下游挖掘优质投资机会，助力产业创新发展。基金存续期为 8 年，其中前 4 年为投 资期，后 4 年为退出期，普通合伙人有权将退出期 ...

Core Viewpoint - TianSuiXinYuan Technology (Shanghai) Co., Ltd. has significantly increased its registered capital from 10 million to 950 million RMB, marking a 9400% increase, and has attracted several institutional investors, including the National Integrated Circuit Industry Investment Fund Phase III [1][5]. Group 1: Company Overview - TianSuiXinYuan was established on October 10, 2025, as a new holding platform focused on integrating resources in the semiconductor field, primarily investing in semiconductor-related assets [2]. - The company has a strong shareholder lineup, including listed companies and state-owned funds, indicating robust backing [2][3]. Group 2: Shareholder Structure - The current shareholders include Chip Origin Technology, Huaxin Dingxin, Shanghai Guotou Xian Dao, and others, with Chip Origin holding 40% of the shares, followed by Huaxin Dingxin at 31.58% and Shanghai Guotou Xian Dao at 15.79% [3][4]. - The total subscribed capital contributions from the top three shareholders amount to 38 million, 30 million, and 15 million RMB, respectively [4]. Group 3: Investment and Strategic Focus - Huaxin Dingxin, a key new shareholder, is a core investment vehicle under the National Integrated Circuit Industry Investment Fund Phase III, which has a registered capital of 93.093 billion RMB and focuses on critical semiconductor sectors [5]. - The recent capital increase aims to fund the acquisition of shares in ZhiDian Semiconductor, which has been officially consolidated into Chip Origin's financial statements [5][6]. Group 4: Technological Synergy - ZhiDian Semiconductor is recognized as a leading provider of display processing chips and solutions, holding over 160 domestic and international patents, which complements Chip Origin's image processing IP, enhancing its competitive edge in chip design [6].

Core Viewpoint - The company, Jingrui Electric Materials, has signed an investment agreement with the People's Government of Pengshan District, Meishan City, to establish a comprehensive base for key materials supporting the integrated circuit manufacturing industry in Sichuan Province, with a total investment of 600 million yuan [1] Group 1: Project Details - The project will include the production of 200,000 tons of ultra-pure electronic-grade and industrial-grade sulfuric acid, 220,000 tons of steam, and 30,000 tons of ultra-pure electronic-grade hydrogen peroxide [1] - Additionally, the project will feature a waste acid regeneration and recycling project to support the integrated circuit industry [1] Group 2: Financial Projections - The total investment for the project is estimated at 600 million yuan, with an expected annual output value of approximately 600 million yuan [1] - The project is projected to contribute around 30 million yuan in annual tax revenue [1] Group 3: Timeline - The construction of the project is scheduled to commence by the end of June 2026, with a completion and production start date set within 18 months [1]

近日，上海集成电路产业投资基金三期合伙企业（有限合伙）发生工商变更，新增上海国投先导集 成电路私募投资基金合伙企业（有限合伙）、上海浦东引领区投资中心（有限合伙）为合伙人，同 时出资额由5.3亿人民币增至60.3亿人民币，增幅约1038%。 公开信息显示，该基金成立于2025年3月，执行事务合伙人为上海集成电路产业投资基金管理有 限公司，经营范围为以私募基金从事股权投资、投资管理、资产管理等活动，由上海国有资本投资 有限公司、上海集成电路产业投资基金管理有限公司及上述新增合伙人共同出资。 来源：天眼查 每日｜荐读 热文： 谁押中了沐曦股份？ 荐读： 2025募资市场年度观察：一年聊过239家LP的真实感受 荐读： 2025年IPO退出盘点：哪些GP赚钱了？ 热文： 投资人"忙疯了" ...

Core Viewpoint - The article highlights significant advancements in China's photolithography resin industry, emphasizing the reduction of reliance on foreign imports and the successful development of domestic products [1][2]. Group 1: Industry Developments - The Minister of Industry and Information Technology announced the successful development of a glass bottle for photolithography resin, which prevents contamination during transportation and storage, marking a shift from nearly 100% foreign dependency [1]. - Domestic companies have overcome 23 key technologies related to ArF photolithography resin, achieving a stable product yield of over 92% [2]. - The self-sufficiency rate of KrF photolithography resin in the domestic market is approaching 50% [2]. Group 2: Market Dynamics - The demand for photolithography resin is driven by the expansion plans of domestic wafer fabs, with an estimated consumption of about 5 tons of photolithography resin for every 10,000 12-inch wafers produced [2]. - By 2025, the domestic production capacity for 12-inch wafers is expected to reach 1.2 million pieces per month, leading to a projected demand for over 6,000 tons of photolithography resin [2]. - The market anticipates a significant acceleration in the domestic photolithography resin replacement process, with 2026 expected to be a breakout year for domestic products [2]. Group 3: Government Support - The National Integrated Circuit Industry Investment Fund's third phase has a scale of 160 billion yuan, with approximately 18% of the funds allocated to photolithography resin and semiconductor materials [1]. - Local governments, such as Shanghai, have implemented targeted subsidy policies, offering a 10% subsidy for wafer fabs purchasing domestic photolithography resin [1].

Core Viewpoint - The National Integrated Circuit Industry Investment Fund has increased its stake in Semiconductor Manufacturing International Corporation (SMIC) from 4.79% to 9.25% as of December 29, 2025, indicating a significant investment in the semiconductor industry [1]. Group 1: Shareholding Changes - The National Integrated Circuit Industry Investment Fund now holds 740,245,419 shares in SMIC, representing 9.25% of the total share capital [1]. - Prior to this increase, the fund held 382,902,023 shares, which accounted for 4.79% of the total share capital [1]. - After the transaction, the fund's A-share holdings amount to 357,343,396 shares, representing 14.03% of SMIC's A-share total and 4.18% of the overall share capital [3]. Group 2: Acquisition Details - SMIC plans to acquire a 49% stake in SMIC North from several entities, including the National Integrated Circuit Industry Investment Fund, for a total price of 40.601 billion CNY [2][5]. - The acquisition will make SMIC North a wholly-owned subsidiary of SMIC, enhancing the company's asset quality and business synergy [5]. Group 3: Financial Performance - SMIC North reported a revenue of 12.979 billion CNY and a net profit of 1.682 billion CNY for the year 2024, reflecting year-on-year growth of 12% and 187%, respectively [5]. - The transaction is expected to promote the long-term development of SMIC without altering its main business scope [5]. Group 4: Future Investments - SMIC is set to receive a total of approximately 7.778 billion USD (over 50 billion CNY) in cash injections from new investors, including the National Integrated Circuit Fund Phase III and the Leading Integrated Circuit Fund [5]. - Following the capital increase, SMIC's registered capital will rise significantly from 6.5 billion USD to 10.0773 billion USD [5][6].

Group 1 - The National Integrated Circuit Industry Investment Fund increased its stake in SMIC's H-shares from 4.79% to 9.25% as of December 29, 2025 [1] - The investment amount for SMIC's new capital increase is approximately $77.78 billion, with $35.773 billion allocated to registered capital and $42.007 billion to capital reserves [3][4] - The new shareholders include the National Integrated Circuit Fund Phase III, Taixin Dingji, and the Leading Integrated Circuit Fund, holding 8.361%, 5.545%, and 1.063% respectively [3] Group 2 - SMIC is a leading integrated circuit foundry company in the world, primarily providing 8-inch and 12-inch wafer foundry and technology services [4] - As of January 2, 2026, SMIC's H-shares closed at HKD 75.1, reflecting a 5.11% increase [4][6] - The A-shares of SMIC reported at CNY 122.83 with a decline of 1.96% on December 31, 2025 [6][7]

Group 1 - The National Integrated Circuit Fund increased its stake in SMIC's H-shares from 4.79% to 9.25% as of December 29, 2025 [2] - SMIC announced a new joint venture and capital increase agreement with the National Integrated Circuit Fund, with a total capital increase amounting to $77.78 billion, of which $35.773 billion will be added to registered capital and $42.007 billion to capital reserves [2] - The National Integrated Circuit Fund Phase III will contribute $18.32 billion to the capital increase [4] Group 2 - New shareholders include the National Integrated Circuit Fund Phase III, Taixin Dingji, and the Pioneer Integrated Circuit Fund, holding 8.361%, 5.545%, and 1.063% respectively [3] - The stakes of the first and second phases of the National Integrated Circuit Fund will be diluted due to the capital increase, with Phase I decreasing from 14.562% to 9.392% and Phase II from 23.077% to 14.885% [3] - SMIC is a leading global integrated circuit foundry and a leader in China's integrated circuit manufacturing industry, providing 8-inch and 12-inch wafer foundry and technology services [4] Group 3 - On January 2, 2026, SMIC's H-shares opened higher, closing up 5.11% at HKD 75.1 per share [4] - As of December 31, 2025, SMIC's A-shares were priced at RMB 122.83 per share, with a decline of 1.96% on that day [5]

Core Viewpoint - The National Integrated Circuit Fund has increased its stake in SMIC's H shares from 4.79% to 9.25% as of December 29, 2025, indicating a significant investment in the semiconductor industry [1]. Group 1: Investment Details - The National Integrated Circuit Fund's investment in SMIC Southern amounts to approximately $7.778 billion (around 54.3 billion RMB), with $3.577 billion allocated to registered capital and $4.2007 billion to capital reserves [1]. - New shareholders include the National Integrated Circuit Fund Phase III, Taixin Dingji, and the Pioneer Integrated Circuit Fund, holding 8.361%, 5.545%, and 1.063% respectively [2]. - The dilution of shares for the first and second phases of the National Integrated Circuit Fund results in a decrease from 14.562% to 9.392% and from 23.077% to 14.885% respectively [2]. Group 2: Market Performance - On January 2, 2026, SMIC's H shares opened high and closed up by 5.11%, reaching HKD 75.1 per share [4]. - As of December 31, 2025, SMIC's A shares were reported at RMB 122.83 per share, with a decline of 1.96% on that day [6]. Group 3: Company Overview - SMIC is recognized as a leading integrated circuit foundry globally and a key player in China's semiconductor manufacturing sector, providing 8-inch and 12-inch wafer foundry and technology services [3].

Core Viewpoint - Semiconductor Manufacturing International Corporation (SMIC) is progressing with the acquisition of a 49% stake in SMIC North from five shareholders for a total transaction price of 40.601 billion RMB, which will make SMIC North a wholly-owned subsidiary of SMIC [1][4]. Group 1: Acquisition Details - SMIC plans to issue 547 million shares to acquire the 49% stake in SMIC North, with a share price of 74.20 RMB, representing a discount of over 39% compared to the closing price of 122.50 RMB on December 29 [1][4]. - The valuation of SMIC North, as of the assessment date of August 31, 2025, is 82.9 billion RMB, with an increase in value of 41 billion RMB, resulting in a premium rate of 98.19% [1][2]. Group 2: Financial Performance - In 2024, SMIC North achieved a revenue of 12.979 billion RMB and a net profit of 1.682 billion RMB, reflecting year-on-year growth of 12% and 187%, respectively [4]. Group 3: Capital Increase for SMIC South - SMIC also announced a capital increase for SMIC South, amounting to 7.778 billion USD (over 50 billion RMB), which will significantly raise its registered capital from 6.5 billion USD to 10.077 billion USD [5][6]. - The new investors include the third phase of the National Integrated Circuit Fund, which will hold an 8.361% stake in SMIC South after the capital increase [5][6]. Group 4: Market Performance - As of December 29, SMIC's A-shares have increased nearly 30% year-to-date, with a market capitalization of 622.6 billion RMB, while its Hong Kong shares have surged nearly 120%, reaching a market cap of 688 billion HKD [7].