燕东微公告，公司于近日收到中国证券监督管理委员会出具的《关于同意北京燕东微电子股份有限公司 向特定对象发行股票注册的批复》(证监许可〔2025〕1304号)。根据批复文件，公司向特定对象发行股 票的注册申请已获得同意，发行应严格按照报送上海证券交易所的申报文件和发行方案实施。本批复自 同意注册之日起12个月内有效。 ...

【导读】国泰君安国际，一支穿云箭，千军万马来相见 兄弟姐妹们啊，今天市场沸腾了，相信你们都挣到钱了吧！ 全线大涨 6月25日，市场全天放量大涨，沪指创出年内新高，创业板指涨超3%。截至收盘，沪指涨1.03%，深成指涨1.72%，创业板指涨3.11%。 两市共3919只个股上涨，80只个股涨停，1284只个股下跌。 | 880005 涨跌家数 | | | --- | --- | | 其中 涨停 | 80 | | 涨幅 > 7% | 135 | | 涨幅 5-7% | 124 | | 涨幅 3-5% | 330 | | 涨幅 0-3% | 3330 | | 跌幅 0-3% | 1171 | | 跌幅 3-5% | 63 | | 跌幅 5-7% | 29 | | 跌幅 > 7% | 21 | | 其中 跌停 | 6 | | 上涨家数 | 3919 | | 下跌家数 | 1284 | | 平盘停牌 | 217 | | 总品种数 | 5420 | | 总成交额 | 16395.06亿 | | 总成交量 | 124713.4万 | | 涨家增减 | 1209 | | 涨家增幅 | 44.61% | | 指数量比 | 1. ...

Market Performance - The A-share market continued its upward trend, with the Shanghai Composite Index rising 1.04% to 3455.97 points, marking a new high since December 12, 2024 [1] - The ChiNext Index increased by 3.11%, and the Shenzhen Component Index rose by 1.72%, while major indices like the SSE 50, CSI 300, and STAR 50 all gained over 1% [1][2] Trading Volume - The total trading volume of the Shanghai and Shenzhen markets reached 16,027.88 billion yuan, an increase of 1,881.74 billion yuan compared to the previous day [2] Sector Performance - The financial sector saw significant gains, with brokerage firms, financial technology, and banks performing well. Notable stocks included Dongfang Caifu and Tianfeng Securities, which hit the daily limit [3][5] - The military and aerospace sectors also experienced strong performance, with several stocks reaching their daily limit due to upcoming commemorative events [5][7] Notable Stocks - Dongfang Caifu's stock price rose by 10.04% to 24.00 yuan, with a market capitalization of 379.297 billion yuan [6] - Other notable performers included Guosheng Jinkong and Tianfeng Securities, both of which saw increases of over 10% [6] Industry Trends - The semiconductor sector showed strength, with stocks like Tailin Micro and Taiji Co. hitting their daily limit, driven by a surge in demand for DDR4 memory due to production halts by major manufacturers [8] - Conversely, the oil and gas sector continued to decline, with stocks like Zhun Oil and Beiken Energy experiencing significant drops due to easing geopolitical tensions in the Middle East [9][10] Future Outlook - Foreign investment firms are optimistic about Chinese assets, with Goldman Sachs maintaining an overweight recommendation for A-shares and Hong Kong stocks, projecting a target of 4600 points for the CSI 300 [10] - JPMorgan highlighted China's leading position in various technology sectors, suggesting that global investors are increasingly focused on China's innovation and dominance [11]

Core Viewpoint - The importance of photolithography in semiconductor manufacturing is being questioned, with industry leaders suggesting alternative technologies may reduce reliance on High-NA EUV lithography [1][8]. Group 1: High-NA EUV Lithography - High-NA EUV lithography machines are facing low demand, with many major chip manufacturers hesitant to fully adopt the technology due to high costs and alternative methods being developed [1][3]. - Intel has begun production using ASML's High-NA EUV machines, aiming to leverage this technology for its next-generation manufacturing processes, including Intel 18A (1.8nm) and Intel 14A (1.4nm) [4][6]. - TSMC has stated that it will not adopt High-NA EUV for its A16 (1.6nm) and A14 (1.4nm) processes, indicating that standard EUV machines will suffice until at least 2026 [5][6]. Group 2: Industry Trends and Shifts - Samsung and SK Hynix are delaying the implementation of High-NA EUV in DRAM production due to high costs and upcoming architectural changes in DRAM technology [6][7]. - The focus is shifting towards etching technology, which is becoming increasingly critical in semiconductor manufacturing, especially as advanced processes evolve below 3nm [7][9]. - The industry is exploring new transistor designs that may lessen the dependency on advanced lithography techniques, emphasizing the importance of etching processes instead [7][9]. Group 3: ASML's Market Position - ASML's EUV lithography technology dominates the market, controlling 75% to 80% of the EUV lithography market, contributing significantly to its revenue [10][13]. - In 2024, ASML reported a total of 418 lithography machine sales, including 44 EUV machines, with significant revenue contributions from the Chinese market [10][13]. - ASML is also developing the next generation Hyper NA EUV lithography system, which promises improved performance and efficiency [11][12]. Group 4: Emerging Technologies - New lithography technologies, such as EUV-FEL and atomic lithography, are being researched as potential alternatives to ASML's current EUV systems, which could disrupt the market [14][15][16]. - These emerging technologies aim to provide higher resolution and lower costs, posing a potential threat to ASML's market dominance [15][16].

银河微电公告，股东银江投资和银冠投资拟采用集中竞价、大宗交易两种方式合计减持188.23万股，占 公司总股本的1.46%。董事孟浪拟采用集中竞价方式减持2250股，占公司总股本的0.002%。 ...

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The e-commerce sales during the "618" shopping festival saw a significant increase, with total online retail sales reaching nearly 2 trillion yuan, a year-on-year growth of approximately 9.8% [4][5] - The "old-for-new" subsidy program is expected to see a decline in funding in certain regions, with central government funds being allocated in the third and fourth quarters [6] - South Korea's exports rebounded significantly in the first 20 days of June, with a year-on-year growth of 8.3%, driven mainly by semiconductor exports [9] - The real estate market shows weak performance in both new and second-hand housing transactions, with second-hand housing sales becoming the dominant force [11] - Rising tensions in the Middle East have led to a continuous increase in crude oil prices, reaching $78.9 per barrel, a 24.5% increase since the end of May [14] Summary by Sections E-commerce Growth - The "618" shopping festival in 2025 began on May 13, one week earlier than in 2024, leading to a notable increase in sales driven by government subsidies [4] - Total e-commerce sales during the event reached 855.6 billion yuan, a 15.2% increase year-on-year, with significant growth in categories like home appliances and 3C digital products [5] Old-for-New Subsidy Program - The central government plans to allocate approximately 138 billion yuan for the "old-for-new" program in the second half of the year, with an average monthly usage of around 23 billion yuan [6] South Korea's Export Performance - South Korea's exports in June showed a strong recovery, particularly in semiconductors, which accounted for 22.9% of total exports [9] - Exports to the EU increased by 23.5%, while exports to China saw a slight decline of 1.0% [10] Real Estate Market Trends - The transaction volume for new and second-hand homes remains weak, with second-hand homes accounting for 58.2% of sales in major cities [11] - The average weekly transaction area for new homes in major cities was 300,000 square meters, reflecting a year-on-year decline of 1.5% [11] Crude Oil Price Trends - Crude oil prices have risen significantly due to geopolitical tensions, with a direct impact on domestic inflation indicators [14]

公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容编译自continental 。 2025年6月23日。大陆集团汽车业务部门在分拆为独立公司Aumovio的过程中，迈出了增强韧性、确 保未来成功的战略性一步，成立了先进电子与半导体解决方案（AESS）部门。该新部门的成立旨在 设计和验证汽车半导体，以满足内部需求。作为一项战略举措，格芯（GF）已成为该部门的制造合 作伙伴。 汽车行业对半导体的需求日益增长，以增强软件定义汽车的电子内容。预计到2032年，全球汽车半导 体市场规模将达到约1100亿欧元，因此，企业必须加大对半导体开发的投入，才能在长期发展中取得 成功。 大陆集团执行董事会成员兼未来Aumovio首席执行官Philipp von Hirschheydt表示："大陆集团致力 于可持续发展，集团汽车业务正走在通往成功的正确道路上。为了确保集团汽车业务未来的成功，我 们决定自主研发半导体。成立这家无晶圆厂半导体公司将增强大陆集团的地位，这不仅有助于降低地 缘政治风险，还能增强其在该领域的自主能力。" AESS 将在内部设计和验证半导体，同时与格芯合作建立生产线，专门为 AESS 生产这些半导体。 ...

【导读】超级大牛股老铺黄金大涨，高盛预测称2025年净利增幅超200% 中国基金报记者 格林 6月23日，恒生指数收涨0.67%，报23689.13点；恒生科技指数收涨1.05%，报5187.01 点；恒生国企指数收涨0.82%，8597.36点。全日市场成交额为1985.91亿港元，较前一交 易日有所缩小，南向资金净买入额为78.95亿港元。 | | CONSULE (LE . INSTANT) | | | DAMME HIJA M INDIAN OFFICIAL TO SHATAL (GIANNARY | | | MARKAN AND | | --- | --- | --- | --- | --- | --- | --- | --- | | 序号 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 成交额 | 年初至今 序号 | | 1 | HSCI | 恒生综合指数 | 3526.79 | 24.86 | 0.71% | 1441.09亿 | 18.22% 1 | | 2 | મંટા | 恒生指数 | 23689.13 | 158.65 | 0.67% | 1985.91亿 | 18.09% 2 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容来自半导体芯闻综合 。 Wolfspeed 今日宣布，作为其积极强化资本结构举措的一部分，公司已与主要债权人签署了重组支 持协议（"RSA"），其中包括(i)持有公司97%以上优先担保票据的债权人；(ii)瑞萨电子株式会社 的全资美国子公司；以及(iii)持有67%以上未偿还可转换票据的可转换债券持有人。RSA协议预期 的交易将使公司整体债务减少约70%，相当于减少约46亿美元，并使公司年度现金利息支出总额减 少约60%。 通过采取这一积极举措，公司有望更好地执行其长期增长战略，并加速实现盈利。这标志着公司与 主 要 贷 款 方 就 加 快 重 组 公 司 资 本 结 构 进 行 磋 商 的 积 极 进 展 已 取 得 圆 满 成 功 ， 并 有 助 于 确 保 Wolfspeed保持其在碳化硅市场的领先地位。 Wolfspeed首席执行官Robert Feurle表示："在评估了增强资产负债表和优化资本结构的各种潜在 方 案 后 ， 我 们 决 定 采 取 这 一 战 略 举 措 ， 因 为 我 们 相 信 这 将 使 Wolfspeed 在 未 来 处 ...

Group 1 - Semiconductor equipment stocks are performing well, with notable increases in companies such as Zhongke Feicai (over 6%), Tuojing Technology (over 5%), and others [2] - Huatai Securities is optimistic about the semiconductor equipment market in the second half of the year, driven by the demand for advanced process logic and packaging due to generative AI [3][6] - In Q1 2025, global semiconductor capital expenditure reached $35.4 billion, a 16% year-on-year increase, with significant contributions from companies like TSMC and Micron [3] Group 2 - The forecast for capital expenditure by Chinese listed semiconductor manufacturing companies in 2025 is expected to decline by 7% to $14.1 billion, with an upward adjustment of 2% compared to previous estimates [6] - The overall semiconductor equipment market is projected to see a revenue increase, with a 24% year-on-year growth in Q1 2025, reaching $35 billion [7] - The market share of Chinese companies is increasing, while American companies are experiencing a decline due to export restrictions, indicating a shift in the competitive landscape [7][8]