2026年的A股市场，指数在震荡中缓慢上行，但个股行情却冰火两重天。 很多散户朋友每天追逐涨停板、跟风热门题材，结果往往是高位被套、来回亏损。 然而，就在市场喧嚣的背后，一股"聪明钱"正在悄然行动。 以社保、公募、外资为代表的主力资金，正避开人声鼎沸的热门股，默默建仓一批看似低调、 实则内核强大的公司。 这些公司不是靠故事和概念炒作，它们普遍拥有五大特征：身处国家重点支持的高景气赛道、近三年业绩持续增长、当前估值处于 历史低位、拥有难以替代的技术壁垒、并且获得了中长期机构的持续加仓。 它们就像武侠小说里的"扫地僧"，平时不显山露水，却身怀绝技。 本文将为你 揭开这10只被主力悄悄看中的"隐形冠军"面纱，看看它们究竟凭什么能成为穿越市场周期的底气。 厦门钨业是一家拥有钨、稀土、锂电材料三大主业的资源巨头。 市场通常把它看作传统的周期品公司，忽视了其在新材料领域的成长性。 2025年，公司实 现营业收入464.69亿元，同比增长31.37%；归母净利润23.11亿元，同比增长35.08%。 在钨业务上，它是全球APT产能第一的企业，光伏切割用的钨丝全球 市占率超过80%。 在新能源材料领域，它的子公司厦钨新能是宁 ...

"这意味着，一套基础设施即可同时承载海量光纤数据传输与高速无线接入。"舒浩文表示，在模拟6G 大规模用户接入场景演示中，该系统成功实现了86路8K高清视频的实时、流畅传输，其可用带宽相较 5G标准提升了一个数量级，展现出强大的多用户并发支持能力，为6G时代太赫兹频谱资源的高效开发 与利用，提供了一条全新的技术路线。 来源：光明日报 团队还给这套系统装上了"AI大脑"，创新性地将AI应用于信道均衡，开发出基于神经网络的新型数字信 号处理算法。王兴军说："传统算法碰到复杂干扰，系统就容易'懵'，其可以辅助信号在光纤里跑得顺 溜，可一到无线端就'水土不服'。现在用神经网络算法，系统能自主学习、自动适应各种信道环境，无 论有线无线，信号都很稳当。" 本报北京2月26日电（记者晋浩天） 打电话、刷视频、用AI——这些我们习以为常的操作背后，其实藏着通信领域一个"老大难"问题：光纤 和无线，这两大支柱技术一直"各说各话"，很难在同一套设备上完美兼容。这一横亘在电信领域的核心 痛点，如今被我国科学家团队成功破解。北京大学王兴军教授—舒浩文研究员团队与鹏城实验室余少华 院士团队、上海科技大学陈佰乐副教授课题组、国家信息光电子 ...

据北京大学电子学院官方微信公众号消息，2月18日，研究论文《集成光子学赋能超宽带光纤-无线通信》（"Integrated photonics enabling ultra-wideband fibre–wireless communication"）在线发表于国际顶尖学术期刊《自然》（Nature）。该论文由北京大学电子学院王兴军教授-舒浩文研究员团队与鹏城实验 室余少华院士团队、上海科技大学陈佰乐副教授团队、国家信息光电子创新中心肖希总经理团队等合作，在下一代无线通信（6G）及光通信领域取得突 破性进展。 该研究在国际上首次提出了集成"光纤-无线融合通信"概念，率先实现了光纤和无线通信系统间的跨网络无缝融合。通过自研的超宽带光电融合集成芯片 和AI赋能的先进均衡算法，该项研究所研发的系统在电信通讯的所有主要场景中（包括光纤、无线及其混合链路）均能支持创世界纪录的数据传输速 率，实现"一套系统、跨场景复用" 图2 超宽带电光-光电转换集成光子芯片关键性能表征 研究团队采用集成光学方案，实现了250GHz以上超大带宽的光电/电光转换器件，薄膜铌酸锂调制器（TFLNMZM）和磷化铟探测器（InP UTC-PD）带 ...

来源：国际电子商情 美国半导体行业协会（SIA）最新公布的数据显示，2025年全球半导体销售额达到7917亿美元，较2024 年的6305亿美元增长25.6%。此外，2025年第四季度销售额为2366亿美元，较2024年第四季度增长 37.1%，较2025年第三季度增长13.6%。2025年12月全球半导体销售额为789亿美元，较2025年11月增长 2.7%。月度销售额由世界半导体贸易统计组织（WSTS）编制，采用三个月移动平均法计算。SIA会员 企业的营收占美国半导体行业总营收的99%，同时涵盖了全球近三分之二的非美国芯片企业。 | December 2025 | | | | | --- | --- | --- | --- | | Billions | | | | | Month-to-Month Sales | | | | | Market | Last Month | Current Month | % Change | | Americas | 24.76 | 25.72 | 3.9% | | Europe | 4.97 | 4.86 | -2.2% | | Japan | 3.79 | 3.70 ...

Core Insights - Chinese scientists have achieved a breakthrough in optical communication and 6G technology by integrating fiber optic and wireless communication systems, creating a "fiber-wireless integrated communication system" that sets new data transmission records [1][2] - The new system supports dual-mode transmission for both fiber and wireless communication, significantly enhancing anti-interference capabilities and demonstrating a tenfold increase in bandwidth compared to current 5G standards [2][4] Group 1: Technological Advancements - The integrated chip developed by the research team has a bandwidth exceeding 250GHz, allowing for unprecedented data transmission rates of 512Gbps for fiber communication and 400Gbps for wireless communication [3][4] - The system utilizes a new neural network algorithm to manage signal switching between wired and wireless modes, improving performance in complex interference scenarios [4] Group 2: Application Potential - The new system has significant application potential in 6G base stations and wireless data centers, laying the groundwork for future ultra-broadband high-speed integrated communication [2][4] - The research team aims to integrate the entire system onto a single chip, potentially allowing a module the size of a fingernail to handle all transmission tasks for a 6G base station [4] Group 3: Industry Context - As of January 21, 2023, China has established 4.838 million 5G base stations, covering all towns and 95% of administrative villages, with over 1.2 billion 5G users [5] - China holds 42% of the global share of essential patents for 5G standards and has completed the first phase of 6G technology trials, with over 300 key technologies developed [5]

我国科学家近日在光通信和6G领域取得突破性进展，在国际上率先实现光纤通信和无线通 信系统间的跨网络融合，自主研发的"光纤—无线一体化融合通信系统"的数据传输速率刷 新纪录，并为6G通信打造了一位"全能选手"。该成果2月19日凌晨在线发表于《自然》。 AI数据中心算力提升和下一代无线通信网络6G的蓬勃发展，要求在多样化场景满足信号的高速、低时 延传输。然而，光纤通信与无线通信在信号架构与硬件约束上存在"带宽鸿沟"。 为此，北京大学联合鹏城实验室、上海科技大学、国家信息光电子创新中心等研发团队， 创出"光纤— 无线一体化融合通信"概念，并采用集成光学方案，成功研制出250GHz（千兆赫兹）以上超宽带集成光 子器件。在此基础上开发出的新系统实现了光纤通信单通道512Gbps（千兆比特每秒）信号传输、无线 通信单通道400Gbps信号传输。 这套系统牛在哪？一块芯片搞定海量数据！ 别看核心部件只是一块小小的集成芯片，它却是个"带宽怪兽"——带宽超过250GHz。什么概念？相当 于把一条乡间小道直接爆改成了超百米宽的多车道超级高速。 基于这块芯片，团队一口气刷新了三项世界纪录： 调制器带宽突破250GHz； 一根光纤里 ...

Core Insights - A team of Chinese scientists has successfully achieved seamless integration of fiber optic and wireless communication, addressing a significant industry challenge and paving the way for 6G technology [1] Group 1: Technological Breakthrough - The core component of the new system is a small integrated chip with a bandwidth exceeding 250GHz, comparable to transforming a narrow country road into a multi-lane superhighway [2] - The team has set three world records: modulator bandwidth surpassing 250GHz, data transmission of 512Gbit per second through a single fiber, and wireless transmission reaching 400Gbit per second [3] Group 2: Enhanced Capabilities - The system is equipped with an "AI brain" that utilizes a new neural network algorithm, allowing stable signal switching between wired and wireless communications, overcoming traditional algorithm limitations [4] - In simulated 6G scenarios, the system can support the simultaneous transmission of 86 channels of 8K video, with bandwidth improvements over 5G by an order of magnitude [4] Group 3: Domestic Innovation - This breakthrough emphasizes domestic capabilities, as all key technologies are based on a fully domestic integrated optical platform, reducing reliance on foreign advanced microelectronics [5] - The team's next goal is to integrate the entire system onto a single chip, potentially allowing a module the size of a fingernail to handle all transmission tasks of a 6G base station [5]

Core Viewpoint - Benkan Intelligent (300964) has received approval from the Shenzhen Stock Exchange for its application to issue convertible bonds, which could positively impact the company's financing and long-term development, pending registration with the China Securities Regulatory Commission [1] Stock Performance - The stock price of Benkan Intelligent has shown volatility over the past seven trading days, closing at 58.80 yuan on February 13, with a daily increase of 0.39% and a trading volume of 1.23 billion yuan [1] - On February 9, the stock price surged by 4.76% with a trading volume of 1.73 billion yuan, while on February 12, it rose by 1.10% with a trading volume of 1.37 billion yuan [1] - The stock is currently trading between the 20-day Bollinger Band resistance level of 64.13 yuan and the support level of 54.41 yuan, indicating a short-term oscillating pattern [1] Financial Performance - For the first three quarters of 2025, Benkan Intelligent reported a revenue of 614 million yuan, representing a year-on-year increase of 43.11%, and a net profit of 30.23 million yuan, which is a significant year-on-year growth of 142.98% [1] - The growth in performance is attributed to an increase in order volume, improved capacity utilization, and a higher proportion of high-value-added products, reflecting enhanced operational efficiency and a recovery in industry demand [1] Institutional Insights - Market attention towards Benkan Intelligent is moderate, with neutral sentiment prevailing [2] - One institution forecasts a net profit of 40 million yuan for 2025, a year-on-year increase of 33.33%, and a net profit of 46 million yuan for 2026, a year-on-year increase of 15.00% [2] - The company is positioned in the "small batch, multi-variety" PCB sector, targeting cutting-edge fields such as 6G communication and low-altitude economy, but faces trade policy risks due to over 60% of its sales being international [2]

Core Viewpoint - The article highlights the strong market position and growth potential of Jiantao Laminates, a leading manufacturer of copper-clad laminates, driven by robust demand in the PCB industry and advancements in high-end applications like AI servers [4][5]. Group 1: Company Overview - Jiantao Laminates, established in 1988, is a global leader in the copper-clad laminate manufacturing industry with a vertically integrated supply chain [4]. - The company has maintained the largest market share in the copper-clad laminate sector for 20 consecutive years, with over 60 factories worldwide [4]. Group 2: Market Demand - The PCB industry is experiencing steady growth, with a projected global market value of $94.661 billion by 2029, reflecting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2029 [5]. - The rapid development of AI servers is expected to significantly increase the demand for high-end PCB products, particularly high-frequency and high-speed copper-clad laminates [5]. Group 3: Market Share and Product Range - In 2024, Jiantao Laminates is projected to hold a 14.4% share of the global copper-clad laminate market, ranking first among competitors [6]. - The company offers a range of products, including economical paper-based laminates and high-performance FR-4 epoxy glass fiber laminates, catering to various sectors such as consumer electronics, computing, and automotive electronics [6]. Group 4: Pricing Power and Cost Management - Jiantao Laminates has strong pricing power and cost pass-through capabilities, with less than 30% of sales coming from its top five customers, indicating a diversified customer base [7]. - The current tight supply in the copper-clad laminate industry, combined with rising copper prices, is expected to drive both prices and profitability upward [7]. Group 5: Strategic Expansion - The company is strategically expanding its upstream raw material production, including low-dielectric glass fiber, to meet the growing demand in high-end communication fields such as 5G and AI servers [8]. - A new copper foil production facility in Guangdong is set to enhance capacity and respond to the increasing demand for thick copper foils driven by data centers and cloud computing [8].

Group 1 - The company currently only produces PPO materials for copper-clad laminates and does not have materials for 6G communication [1]