近日，工商与股权登记信息显示，国内封测行业三巨头长电科技、通富微电、华天科技于2月7日同步调整对华进半导体封装先导技术研发中心有限公司 （下称"华进半导体"）的持股比例，三家企业持股比例均从此前的约4.325%变更为2.747%。与此同时，华进半导体法定代表人完成变更，由叶甜春正式 变更为汤树军。 变更前 1.北京中科微投资管 理有限责任公司 2.无锡国创芯进企业 管理合伙企业(有限 限公司 9.深圳市兴森快捷电 路科技股份有限公司 10.青岛航锋股权投 资合伙企业(有限合 伙) 11.安捷利电子科技 (苏州) 有限公司 12.深南电路股份有 限公司 13.无锡联丰一号产 业投资合伙企业(有 限合伙) 14.曹立强 15.江苏中科物联网 科技创业投资有限公 变更后 1.北京中科微投资 管理有限责任公司 (持股-6.0999%) 19.江苏省产业技术 研究院有限公司 20.乐融华进示营体 产业投资基金(淄 博）合伙企业(有限 合伙) 2.无锡国创芯进 股份有限公司 (持股-1.5773%) 7.苏州晶方半导体 科技股份有限公司 (持股-1.5773%) 8.通富微电子 股份有限公司 (持股-1.5773%) 9 ...

以下文章来源于格隆汇交易学苑 ，作者格隆汇小编 格隆汇交易学苑 . 以基本面为基础，专注于趋势交易 2025 年半导体设备行业交出亮眼答卷： ASML 全年净销售额 327 亿欧元同比增 16% ，未交付订单达 388 亿欧元（ EUV 占 255 亿）； 三星半导体 业务带动营业利润增 33% ， SK 海力士 Q4 营业利润 同 比增长 137% 。 不止海外巨头，国内半导体设备企业同样表现抢眼， 金海通、长川科技 等均发布了业绩大幅预增的公告。亮 眼的业绩背后 ，是 AI 算力爆发、国产替代深化与全球产能扩张三重共振的必然结果，半导体设备作为 " 扩 产先行军 " ，正迎来确定性增长周期。 半导体设备为何持续 " 吸金 " ？ 生成式 AI 的规模化应用，直接重构了存储需求格局，堪称 " 存储吞金兽 " 。 美光数据明确显示， AI 服务 器的 DRAM 需求是普通服务器的 8 倍， NAND 需求达 3 倍，单台 AI 服务器的存储需求更是高达 2TB 。 面对 AI 驱动的存储需求激增， HBM （高带宽内存）异军突起，成为需求增长的核心引擎。据行业预测， 2024-2030 年全球 HBM 市场收 ...

截至2026年1月30日收盘，安路科技（688107）报收于30.21元，较上周的31.35元下跌3.64%。本周，安 路科技1月29日盘中最高价报31.99元。1月27日盘中最低价报28.57元。安路科技当前最新总市值121.1亿 元，在半导体板块市值排名115/171，在两市A股市值排名1708/5184。 董事会审计委员会认为公司符合科创板向特定对象发行股票条件，发行对象不超过35名，发行价格不低 于定价基准日前20个交易日股票交易均价的80%，募集资金不用于财务性投资，同意提交股东大会审 议。 独立董事认为本次发行方案充分论证了融资必要性与可行性，符合公司发展需求及股东利益，同意提交 股东大会审议。 公司披露最近五年未被证券监管部门或交易所采取处罚或监管措施。 募集资金到位后将用于主营业务相关科技创新领域，推动国产FPGA芯片进入Chiplet超大规模时代，满 足无线通信、数据中心、人工智能等领域对高端芯片的需求。 本次发行尚需经公司股东大会审议通过、上交所审核通过及证监会注册后方可实施。 本周关注点 业绩披露要点 安路科技发布2025年年度业绩预告，预计全年营业收入为51,000.00万元至55,0 ...

通富微电子股份有限公司投资者关系活动记录表 编号：2026-002 | 投资者关系活动 ☑ | 特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称及 | 平安证券：陈福栋；弢盛资产：陶星辰；博时基金：赵宪成；工 | | 人员姓名 | 银瑞信：万力实；摩根基金：宋敬祎；国联民生：王晔；南方基 | | | 金：竺绍迪、吴春林；中信证券：王子源；富国基金：罗擎；长 | | | 城基金：余泽璇；长江资管：杨书权；中庚基金：徐润齐；平安 | | | 基金：江正清；长信基金：袁梦镜；银河基金：黄心叶；财通证 | | | 券：唐佳、詹小瑁；泉果基金：赵浩 | | 时间 | 2026 年 1 月 21 日 | | 地点 | 公司会议室 | | 上市公司接待人 | 董事会秘书 蒋澍 | | 员姓名 | | | | 一、公司概况 | | | 通富微电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、 ...

Core Viewpoint - The semiconductor industry is showing signs of recovery after a deep adjustment, prompting major packaging and testing companies to take action, exemplified by Tongfu Microelectronics' plan to raise up to 4.4 billion yuan through a private placement to enhance its capabilities in key areas such as memory chip packaging, automotive electronics, wafer-level packaging, and high-performance computing [1][5]. Group 1: Financing and Investment Plans - Tongfu Microelectronics plans to raise a maximum of 4.4 billion yuan through a private placement, with funds allocated to four key projects: memory chip packaging capacity enhancement (800 million yuan), automotive and emerging application packaging capacity enhancement (1.055 billion yuan), wafer-level packaging capacity enhancement (695 million yuan), and high-performance computing and communication packaging capacity enhancement (620 million yuan) [6]. - The company aims to seize industry opportunities through capacity upgrades and technological iterations, thereby solidifying its core competitiveness in high-end packaging and testing [5]. Group 2: Historical Context and Growth Challenges - Since its listing in 2007, Tongfu Microelectronics has relied on significant capital injections for expansion, leading to a high-debt, asset-heavy operational model and profitability challenges [6]. - The company has undergone multiple phases of growth, including a major acquisition in 2016 and a significant capital increase in 2020, which supported its revenue growth but also resulted in heavy depreciation burdens that hindered net profit growth [7]. - The recent 4.4 billion yuan private placement is seen as a strategic move to transition from capital-dependent expansion to technology-driven growth, aiming to convert revenue scale into quality profits [7]. Group 3: Customer Dependency and Financial Performance - Tongfu Microelectronics' rapid growth is closely tied to its deep relationship with AMD, which has significantly influenced its revenue trajectory, but also created a dependency that constrains its financial model [8]. - The company's revenue reached 22.27 billion yuan in 2023, but its net profit was only 169 million yuan, highlighting a significant disparity between revenue growth and profitability [9]. - The company's valuation is perceived as discounted due to concerns over customer concentration risk and profit volatility, indicating a need to improve growth certainty and quality [10]. Group 4: Shareholder Returns and Corporate Governance - Despite frequent equity financing for expansion, the company's low cash dividend policy and the controlling shareholder's selling behavior have raised questions about the alignment of long-term interests [11]. - The cumulative cash dividends since its listing amount to only 454 million yuan, representing a low average dividend payout ratio of 9.68% compared to its net profit [12]. Group 5: Future Challenges and Risks - The company faces ongoing challenges related to high capital expenditures and depreciation pressures, which could impact profitability if new capacity is not fully utilized [14]. - Continuous and costly technological upgrades are necessary to maintain competitiveness in the rapidly evolving semiconductor industry [15]. - The company must address its reliance on a limited number of major customers, which poses a significant risk to its business model [15].

Core Viewpoint - Woge Optoelectronics (603773.SH) has seen a significant stock price increase, reaching a limit up of 10% to 39.16 CNY per share, with a total market capitalization of 8.798 billion CNY, driven by strong performance in various sectors including Chiplet, glass substrates, CPO, Mini/MicroLED, and commercial aerospace [1] Business Overview - Woge Optoelectronics is a leading domestic manufacturer of glass substrates, with self-developed glass optical devices applied in semiconductor etching equipment and lithography machines [1] - In the MiniLED product sector, the company has achieved mass production and shipment of glass-based MiniLED backlight displays and is collaborating with major TV brands to develop and mass-produce glass-based MiniLED television products [1] - In the MicroLED field, the company is conducting product research and development with several domestic and international clients, with its glass-based CPO products recently completing batch sampling and engaging in strategic cooperation in advanced packaging for computing chips [1] - The company is advancing glass stacking technology iterations and is on the verge of mass production and shipment of microfluidic biochip products [1] - In the commercial aerospace sector, Woge Optoelectronics possesses a full industry chain production capability from CPI slurry to film and coating, maintaining a leading technical level in the industry, having achieved in-orbit application of flexible solar wing substrates, and is conducting business engagements and product testing with multiple flexible solar wing clients [1]

机构指出，台积电capex超预期印证AI驱动下半导体设备需求韧性，带动全球半导体前道设备及后道封 测设备高景气。国内政策、资本、需求合力，国产设备订单有望加速。近期半导体设备行业催化不断， 大基金三期增资中芯南方、长鑫存储招股书发布，国内先进制程扩产与供应链本土化加速，国产前道半 导体设备迎替代与订单双重红利。此外，先进封测设备迎发展机遇。Chiplet、CoWoS等技术升级带动 固晶、测试等设备需求爆发，国内企业在关键环节突破，受益于封测产能扩张与技术升级红利。 消息面上，台积电预计2026年资本支出最高560亿美元，同比增长37%，其中70%-80%投向先进制程， 支撑AI需求。受此影响，美股阿斯麦、应用材料、拉姆研究盘中上涨6.9%、8.5%、6.5%，创历史新 高。 截至2026年1月16日 09:34，上证科创板半导体材料设备主题指数(950125)强势上涨2.13%，成分股天岳 先进上涨10.35%，上海合晶上涨7.75%，兴福电子上涨4.94%，和林微纳，富创精密等个股跟涨。科创 半导体ETF鹏华(589020)上涨1.93%， 冲击3连涨。最新价报1.48元。 科创半导体ETF鹏华紧密跟踪上证 ...

Core Viewpoint - Heshun Petroleum (603353) is actively pursuing the acquisition of Shanghai Kuixin Integrated Circuit Design Co., with ongoing due diligence and a focus on the Chiplet sector, which is expected to see significant growth in the coming years [1][2][3] Group 1: Company Performance - As of January 9, 2026, Heshun Petroleum's stock closed at 27.81 yuan, up 1.76% from the previous week [1] - The company's total market capitalization is 4.781 billion yuan, ranking 18th out of 30 in the refining and trading sector and 3594th out of 5182 in the A-share market [1] Group 2: Acquisition and Strategic Focus - The acquisition of Kuixin Technology is progressing, with a focus on high-speed interconnect IP and Chiplet solutions, which are critical for high-performance computing [1][2] - Kuixin Technology's Chiplet clients include leading domestic AI chip companies, with products aimed at large model training and scientific computing, expected to achieve mass production in the second half of next year [1][3] Group 3: Future Growth and Market Demand - Kuixin Technology is experiencing a positive growth trend in 2025, with increasing order volumes and stable expansion of core IP and Chiplet solutions [2][3] - The company's future growth will be driven by three main business lines: steady growth in IP business, expansion of AI SIC mass production services, and potential growth from Chiplet and IO Die technologies [2][3]

Core Insights - The Chinese semiconductor industry is experiencing a significant transformation, marked by the successful IPOs of domestic GPU companies such as MuXi and Moer Thread, reflecting a collective investor sentiment towards "computing power autonomy" [1][2] - The value focus in the semiconductor sector is shifting from centralized computing power to "ubiquitous intelligence," indicating a profound change in the IoT semiconductor landscape [1] Group 1: Current Trends - The listings of MuXi and Moer Thread occur during a unique time when AI applications are rapidly emerging, making computing power a fundamental resource [2] - The expansion of computing power is moving from data centers to edge and terminal devices, driven by the maturation of AI technology and decreasing costs [3][4] Group 2: Predictions for IoT Semiconductor Industry - Prediction 1: The integration of edge AI will accelerate, leading to widespread application of IoT devices equipped with edge AI capabilities by 2026 [7] - Prediction 2: Modular design (Chiplet) and open architecture (RISC-V) will see significant growth, allowing for more flexible and cost-effective chip designs [10][11] - Prediction 3: Carbon footprint tracking will become a critical design constraint, alongside performance, power consumption, and cost [12][13] - Prediction 4: Localized production of IoT chips will increase, driven by government incentives and the need for supply chain security [16][17] - Prediction 5: AI will evolve from a supportive tool to a co-pilot in the design process, automating routine tasks and allowing engineers to focus on higher-level decisions [18][19] - Prediction 6: Security design will transition from an optional feature to a regulatory requirement, necessitating built-in hardware protections [20][21] Group 3: Strategic Recommendations - For chip design companies: Shift focus from parameter competition to scenario differentiation and evaluate the availability of lightweight NPU reserves [24] - For equipment manufacturers (OEMs): Avoid reliance on cloud-based intelligence and seek SoC suppliers that support edge inference capabilities [27] - For industry investors: Look for companies providing AI EDA plugins, compliance automation tools, and Chiplet interconnect IP, as they are likely to be the winners in the upcoming market [29] Group 4: Future Landscape - The semiconductor industry's value will transition from "peak computing power" to "intelligent density per unit energy consumption" and "lifecycle security compliance" [31] - The global semiconductor supply chain will evolve from a unipolar dominance to a multipolar coexistence, emphasizing the importance of regional chip ecosystems [32]

Core Viewpoint - Chipone Technology (688521.SH) has terminated the acquisition of 97% stake in Xinlai Zhihong, which will not adversely affect the company's normal business operations and production activities [1] Group 1: Business Operations - The company will continue to strengthen its layout in the RISC-V field [1] - As a shareholder of Xinlai Zhihong, the company will maintain and deepen its cooperative relationship with it [1] Group 2: Product Development - Nearly 200 million AI chips integrated with Chipone's NPU IP have been shipped globally [1] - The company has provided customized autonomous driving chips based on 5nm automotive-grade process technology for a well-known new energy vehicle manufacturer [1] - The company is actively advancing the development of a Chiplet solution platform in the smart mobility sector [1] Group 3: Strategic Partnerships - Chipone is engaging in in-depth cooperation with a series of key customers in the automotive sector based on its technological layout [1]