科创半导体设备ETF（588710）及其联接基金（A类024974/C类024975）卡位AI硬件浪潮和国产替代的 关键交汇点，其标的指数上证科创板半导体材料设备主题指数中"半导体设备+半导体材料"行业权重占 比达84.8%，同时区别于其他部分半导体主题指数沪深两市的选股范围，科创半导体材料设备指数100% 科创板市场选股的特性或赋予指数更强的弹性。2025年以来科创半导体材料设备指数累计涨幅达 97.96%，优于同期中证半导体材料设备主题指数90.81%的表现。 （文章来源：每日经济新闻） 近期，半导体行业再次迎来广泛涨价潮。2026年1月27日晚间，某芯片设计公司发布了涨价函，表示鉴 于当前严峻的供需形势以及巨大的成本压力即日起对MCU、Nor flash等产品进行价格调整，涨价幅度 为15%至50%。此前另一芯片公司宣布自2026年1月起对合封512Mb的KGD产品涨价40%，对合封1Gb的 KGD产品涨价60%，对合封2Gb的KGD涨价80%。 本轮涨价潮主要源于AI时代下多模态应用与企业级存储需求的快速增长，同时有望为上游设备、材料 厂商打开更大的议价空间，因此相关产品如科创半导体设备ETF（588 ...

Core Viewpoint - Anker Innovations Technology Co., Ltd. is embarking on a new journey with its "A+H" dual capital platform, having submitted its main board listing application to the Hong Kong Stock Exchange [1] Group 1: Company Overview - Founded in 2011 and headquartered in Changsha, China, Anker Innovations has become a creator of innovative products in the global smart hardware technology industry [2] - The company has three main product lines: smart charging and energy storage, smart home, and innovative audio-visual products, covering a wide range of applications from personal consumption to outdoor use [2] Group 2: Financial Performance - The smart charging and energy storage business is projected to account for 51.3% of revenue in 2024, with products like the SOLIX F3800 Plus portable power station and Solarbank 3 E2700 Pro solar storage device [3] - For the first nine months of 2025, revenue from the smart home and innovative business reached 5.5 billion RMB, a year-on-year increase of 36.2% [3] - The smart audio-visual business generated 4.6 billion RMB in revenue during the same period, reflecting a 20.2% year-on-year growth [3] - From 2022 to 2024, the company's revenue is expected to grow from 14.25 billion RMB to 24.71 billion RMB, with a compound annual growth rate (CAGR) of 31.7% [14] Group 3: Market Presence - Anker's products are sold in over 180 countries, serving more than 200 million users, with over 96% of revenue coming from international markets [5] - North America contributed 45.2% of revenue, while Europe accounted for 26.9% in the first three quarters of 2025 [5] Group 4: Competitive Advantages - The company has established a competitive barrier through technological innovation, global layout, and brand accumulation, holding 2,747 global patents as of September 30, 2025 [7] - Anker operates under a "no factory model," focusing on research, design, and brand operation, with its mobile charging products ranked second globally and first among independent brands [7] Group 5: Industry Outlook - The global smart hardware market is projected to reach approximately $1.2 trillion in 2024, with a CAGR of 5.9% from 2024 to 2029 [10] - The "shallow sea market" that Anker focuses on is expected to grow to $340 billion by 2024, with a CAGR of 11.5% [10] Group 6: Future Plans - The net proceeds from the Hong Kong listing will primarily be used for product iteration and innovation, research and talent acquisition, brand and user operations, global direct sales channel development, and supply chain upgrades [16] - The company aims to enhance its global layout and strengthen its market position in the face of rapid technological advancements and competition [16]

Core Viewpoint - 瑞声科技 is positioning itself as a global leader in perception experience solutions, showcasing advancements in technology and product offerings across five major sectors: acoustics, electromagnetic transmission, optics, sensors, and automotive [1][2]. Group 1: Product Innovations - In the acoustics sector, 瑞声科技 presented a new generation of high-energy density speakers and innovative coaxial speaker 2.0, enhancing low-frequency performance by 2.5dB and achieving a diaphragm extension of 1.0mm [1]. - The company showcased self-developed micro-motor solutions in electromagnetic transmission, including a customized ultra-vibration motor for vivo X300 Pro, with steady and transient vibration increases of 30% and 68% respectively [1][2]. - In optics, 瑞声科技 achieved breakthroughs in WLG technology, improving yield and capacity, with flagship models already utilizing its glass-plastic hybrid lens [1][2]. Group 2: Market Dynamics - The growth outlook for 瑞声科技 is driven by both traditional business upgrades and new emerging sectors, with North American client hardware upgrades being a key factor for stable revenue growth [2][3]. - The North American market is experiencing a hardware upgrade cycle, with iPhone 17 series sales exceeding expectations, leading to increased orders for core components from 瑞声科技 [2]. - The company is positioned as a core supplier for the iPhone 17 Pro series VC cooling solutions, with expectations for further penetration in the upcoming 18 series [2]. Group 3: AI Hardware Opportunities - The AI hardware wave is opening new avenues, with OpenAI collaborating with Lixun Precision to develop consumer-grade AI edge devices, which aligns with 瑞声科技's technological capabilities in voice recognition and low-power motors [3]. - 瑞声科技 is actively positioning itself in the AI edge device market, collaborating with major brands to develop acoustic and optical modules for AI glasses, currently in the product validation stage [3]. Group 4: Financial Projections - 瑞声科技 maintains net profit forecasts for 2025-2027 at 2.406 billion, 3.081 billion, and 3.459 billion RMB, respectively, supported by improving profitability in the optics business and the growth of diverse applications in automotive and robotics [4].

Core Viewpoint - 瑞声科技 is positioned as a global leader in perception experience solutions, showcasing advancements in technology and product development across five major sectors: acoustics, electromagnetic transmission, optics, sensors, and automotive [4][5]. Group 1: Acoustics and Electromagnetic Transmission - The summit highlighted the new generation of high energy density speakers and innovative coaxial speaker 2.0 products, which enhance low-frequency performance by 2.5dB and improve diaphragm extensibility [4]. - The company presented a fully self-developed micro motor solution, including a customized ultra-vibration motor for vivo X300 Pro, with steady and transient vibration increases of 30% and 68% respectively [4][5]. Group 2: Optical and Thermal Management - In optics, the WLG (wafer-level glass) technology has achieved key breakthroughs, with yield and capacity steadily improving, and flagship models now featuring hybrid glass-plastic lenses [4]. - The thermal management product line showcased various materials for VC uniform heat dissipation plates and active cooling solutions, meeting the upgraded thermal performance demands of high-end models [4]. Group 3: Microphones and Automotive Acoustics - The company launched an 80dB high signal-to-noise ratio optical microphone, enhancing audio resolution by 20 times [5]. - In the automotive acoustics sector, 瑞声科技 integrates capabilities from PSS and Hebei Chuguang to provide comprehensive acoustic solutions for vehicles, currently working on solutions for the Zeekr 9X [5]. Group 4: Growth Drivers - The growth outlook for 瑞声科技 is driven by both "traditional business upgrades" and "emerging market layouts," with North American client product iterations being a cornerstone for steady revenue growth [5]. - The AI hardware wave is emerging as a new engine for value reassessment, with the company well-positioned to benefit from the demand for AI edge devices [6][7].