阿斯麦首席技术官马尔科·皮特斯称，该设备已累计加工约50万片硅晶圆，停机时间极低，图案精度达 到量产标准。 （文章来源：第一财经） 据媒体报道，荷兰光刻设备制造商阿斯麦高管表示，公司新一代极紫外光刻机已准备就绪，芯片制造商 可开始将其用于大规模生产。该设备单价约4亿美元，为初代EUV机型的两倍。 ...

证券代码：688478 证券简称：晶升股份 公告编号：2026-011 南京晶升装备股份有限公司 关于全资子公司完成工商变更登记 并换发营业执照的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 南京晶升装备股份有限公司（以下简称"公司"）于2026年1月23日召开第二届董事会第十六次会议审议 通过了《关于将募集资金借款转为对全资子公司增资以实施募投项目的议案》，同意将公司对全资子公 司南京晶升半导体科技有限公司（以下简称"晶升半导体"）提供的人民币20,255.00万元的募集资金无息 借款转为对晶升半导体增资以实施募集资金投资项目"半导体晶体生长设备总装测试厂区建设项目"。本 次增资完成后，晶升半导体的注册资本由5,000万元人民币变更为25,255万元人民币，仍为公司的全资子 公司。 具体内容详见公司于2026年1月24日在上海证券交易所网站（www.sse.com.cn）披露的《南京晶升装备 股份有限公司关于将募集资金借款转为对全资子公司增资以实施募投项目的公告》（公告编号：2026- 006）。 近日，晶升半导体已 ...

Core Insights - Heavy asset companies are significantly outperforming the global stock market as investors seek safe havens from the "AI disruption" sell-off, focusing on HALO (Heavy Assets, Low Obsolescence) stocks [1][3] - Goldman Sachs reports that its basket of heavy asset stocks has outperformed a lightweight capital stock group by approximately 35% since early 2025 [1][6] Group 1: Characteristics of Heavy Asset Companies - Heavy asset companies are characterized by high barriers to entry in production materials, such as power grids, mining, oil and gas assets, and large utility networks, where AI replication costs are extremely high [2] - These companies also exhibit low technological obsolescence, making it difficult for AI to replace core production capabilities in sectors like semiconductor equipment and advanced packaging [2][3] Group 2: AI Impact on Capital Expenditure - AI is not only disrupting profit structures in lightweight industries but also creating a "super cycle" in capital expenditure, particularly in AI chips and storage [2] - Goldman Sachs estimates that the five largest cloud providers will invest approximately $1.5 trillion in AI infrastructure from 2023 to 2026, shifting them from capital-light to capital-intensive players [2][8] Group 3: Market Trends and Investor Behavior - Investors are increasingly favoring heavy asset stocks due to their perceived stability and lower risk of AI obsolescence, particularly in utilities, basic resources, and semiconductor manufacturing [3][9] - Concerns over AI disrupting traditional business models have led to irrational sell-offs in various sectors, including those not directly impacted by AI, such as logistics [7] Group 4: Performance of Heavy Asset Stocks - Heavy capital-intensive stocks are significantly outperforming the market, especially as light asset sectors face declines due to AI disruption fears [6] - Despite the overall trend, some heavy asset companies are experiencing stock price declines due to skepticism about the returns on massive AI infrastructure investments [8] Group 5: Financial Metrics and Market Shifts - Higher actual yields and geopolitical factors are driving capital towards capital-intensive sectors, with earnings momentum shifting towards heavy asset stocks [9] - Market expectations for stronger earnings per share (EPS) growth and return on equity (ROE) are now significantly higher in capital-intensive companies compared to lightweight capital firms [9]

这件事其实没那么可怕。2月9日，法国一个名为高等战略与规划委员会的机构发布了一份报告，建议对 中国加征30%的关税。但两天后，德国、荷兰、芬兰等六个国家明确表示反对。13日，法国财长莱斯屈 尔马上改口，表示一刀切不行，必须按照WTO规则来执行。看似波澜壮阔的中欧大战，其实不过是法 国自说自话提出了一个建议，结果还没真正实施，就已经不了了之。 事实上，欧盟自身的问题也不少。勃兰登堡机场从建造到现在已经三十年，但环保标准在27个成员国之 间来回折腾，进展缓慢。虽然科研投入没有减少，但其中十项专利中，仅有三项能够转化为真正的产 品。德国最近正联合法国、意大利、西班牙等国，共同推进电池回收标准，另外，中欧也悄然达成了3 月启动氢能工作组的共识，其中中方提供电解槽技术，欧方则放开加氢站的招标。 马克龙想通过这次建议为法国战略自主的议题加分，然而德国的默茨根本没有搭理这个话题。宝马在沈 阳的工厂，零部件一半来自欧洲，如果加征30%的关税，单是物流成本就要涨两成。荷兰的阿斯麦公司 去年三分之一的光刻机销售给了中国，结果股价当天就大幅下跌。匈牙利和芬兰则迅速与法国划清界 限，一个依赖中资建设风电项目，一个依赖中企投资氢能项目 ...

Group 1 - The core viewpoint of the news is that 富创精密 (Fuchuang Precision) has seen a stock price increase of 6.07%, reaching 93.00 yuan per share, with a total market capitalization of 28.478 billion yuan [1] - 富创精密 specializes in manufacturing precision components for semiconductor equipment, particularly in the 7nm process technology, with its main business revenue composition being 68.56% from mechanical and electromechanical components, 28.92% from gas transmission systems, and 2.51% from other sources [1] Group 2 - 嘉实上证科创板芯片ETF (Jiashi SSE Sci-Tech Innovation Board Chip ETF) is one of the top ten circulating shareholders of 富创精密, having reduced its holdings by 160,300 shares to a total of 3.4752 million shares, representing 1.96% of the circulating shares [2] - The Jiashi SSE Sci-Tech Innovation Board Chip ETF has achieved a year-to-date return of 14.52% and a one-year return of 71.78%, ranking 433 out of 5,569 and 204 out of 4,295 respectively in its category [2] Group 3 - The fund manager of 嘉实上证科创板芯片ETF is 田光远, who has been in the position for 4 years and 343 days, with the fund's total asset size being 79.133 billion yuan [3] - During his tenure, the best fund return was 163.5%, while the worst return was -46.65% [3]

Group 1 - The core point of the news is that ACMR, the controlling shareholder of Shengmei Shanghai, is transferring approximately 4.8016 million shares at a price of 160 RMB per share, raising about 768 million RMB, while still retaining its controlling stake after the transfer [1] - ACMR's shareholding before the transfer was approximately 358 million shares, representing 74.49% of Shengmei Shanghai's total shares [1] - This marks the second reduction in shareholding by Hui Wang, the actual controller of Shengmei Shanghai, within six months, with previous reductions occurring at high stock price levels [1] Group 2 - Shengmei Shanghai is a leading domestic semiconductor cleaning equipment manufacturer, with a global market share of 8%, ranking fourth worldwide according to Gartner [2] - The company has a strong order reserve, with total orders amounting to 9.072 billion RMB as of September 2025, reflecting a year-on-year increase of 34.10% [2] - For the first three quarters of 2025, Shengmei Shanghai reported a revenue of 5.146 billion RMB, a year-on-year growth of 29.42%, and a net profit of 1.266 billion RMB, up 66.99% [2]

Core Viewpoint - By 2025, three Chinese companies are expected to be among the top 20 global semiconductor equipment manufacturers, a significant increase from one company before the U.S. export restrictions in 2022, indicating rapid growth in China's semiconductor industry [1]. Group 1: Company Rankings and Growth - North Huachuang Technology Group has risen from 8th place in 2022 to 5th place in 2025, following major global players like ASML, Applied Materials, and Lam Research [1]. - New entrant, Zhongwei Semiconductor Equipment (Shanghai) Co., Ltd., ranked 13th, with its core etching equipment reportedly used in 5nm chip production, indicating proximity to global advanced levels [1]. - Shanghai Micro Electronics Equipment (Group) Co., Ltd. (SMEE) ranks 20th, primarily producing photolithography equipment, which is crucial for chip performance [3]. Group 2: Industry Trends and Investments - China is increasing its investment in semiconductor self-sufficiency through national funds and local government support, leading to a rapid rise in the number of equipment manufacturers [3]. - Currently, 20% to 30% of semiconductor equipment is manufactured domestically in China, a significant increase from about 10% three years ago [3]. - The advanced semiconductor manufacturing process involves over 1,000 steps, with Chinese companies now capable of covering all process stages, including deposition, etching, and cleaning [3]. Group 3: Market Dynamics and Future Projections - The Chinese semiconductor equipment market is projected to grow by 35% year-on-year in 2024, reaching $49.5 billion, making it the largest market globally [4]. - ASML's revenue from China is expected to decrease from 33% in 2025 to 20% in 2026 due to U.S. export restrictions, indicating a shift in market dynamics [5]. - Chinese companies are striving to overcome challenges in photolithography technology, with efforts focused on developing extreme ultraviolet (EUV) lithography and utilizing deep ultraviolet (DUV) technology to bypass restrictions [5].

证券日报网讯 1月30日，国力电子在互动平台回答投资者提问时表示，公司在射频电源端的主打产品真 空电容器已向国内主要半导体设备厂和射频电源厂供货，例如直接供应给北方华创、中微公司等头部设 备制造商，同时也向四川英杰电气、深圳恒运昌等射频电源厂商供货。在该产品的国产替代方面，公司 产品在耐压、承载电流及寿命等关键性能上与国外主要竞争对手已基本相当，凭借更优的性价比优势， 正加速在核心客户中实现进口替代。展望未来，随着国家政策对产业链自主可控的推动以及国内半导体 设备需求的持续增长，半导体领域高性能真空电容器的全球及中国市场预计将保持可观的年复合增长 率。 （编辑 王雪儿） ...

Group 1 - Amazon announced a reduction of approximately 16,000 jobs, marking the second large-scale layoff within three months, part of a broader plan to cut about 30,000 employees, which represents around 10% of its total workforce [1][3] - The layoffs will affect various departments including Amazon Web Services, core retail, streaming, and human resources, aimed at streamlining the company structure and enhancing accountability [3] - Amazon's previous layoffs in October resulted in the termination of 14,000 employees, and the company is focusing on artificial intelligence and data center infrastructure, predicting capital expenditures to reach $125 billion by 2026 [3] Group 2 - ASML announced a global reduction of 1,700 jobs, primarily in the Netherlands and the United States, which accounts for about 4% of its total workforce, focusing on technical and IT departments [5] - The purpose of ASML's layoffs is to optimize organizational structure, simplify processes, and improve efficiency and output [5]

阿斯麦（ASML）周三早盘下跌2.7%，此前该公司报告第四季度订单额创132亿欧元纪录，预计2026年 销售额将达340-390亿欧元，公布截至2028年的120亿欧元股票回购计划，并计划净裁员约1700人。 责任编辑：张俊 SF065 阿斯麦（ASML）周三早盘下跌2.7%，此前该公司报告第四季度订单额创132亿欧元纪录，预计2026年 销售额将达340-390亿欧元，公布截至2028年的120亿欧元股票回购计划，并计划净裁员约1700人。 责任编辑：张俊 SF065 ...