【金融街证券ETF研究】证券研究报告 · 基金研究 | 2026/2/25 ● 铜连接/线缆 一交换机 CPO光模块 · 源杰科技/新易盛 · 华丰科技 /瑞可达 · 紫光股份 / 锐捷网络 · 中际旭创 / 光迅科技 · 宝胜股份 / 鼎通科技 · 星网锐捷 / 菲菱科思 · 天孚通信 / 太辰光 · 沃尔核材 / 金田股份 · 共进股份 · 德科立 / 长芯博创 · 兆龙互联 / 神宇股份 数据来源:Wind数据库,金融街证券研究所梳理 重点 注ETF标的清单 分析师:张一 S0670524030001|张宁 S0670524090001|刘艳平 S0670512050002| 余闵华 S0670524050001 |周晟昂 S0670525050001 | 陈阳 S0670525120001 | 蔡萌萌 S0670524110001 | 徐娜 S0670524020001 "十五五"规划一人工智能(网络设施) · 技术概况: 人工智能(ArtificialIntelligence,Al)是研究、开发 用于模拟、延伸和扩展人类智能的理论、方法、技术及应用系统的一 门技术科学,其核心在于通过计算机系统模拟人 ...

每经AI快讯，光迅科技2月26日晚间发布公告称，武汉光迅科技股份有限公司于2026年2月26日收到深 圳证券交易所出具的《关于武汉光迅科技股份有限公司申请向特定对象发行股票的审核中心意见告知 函》。深交所发行上市审核机构对公司向特定对象发行股票的申请文件进行了审核，认为公司符合发行 条件、上市条件和信息披露要求，后续深交所将按规定报中国证券监督管理委员会履行相关注册程序。 （记者 张明双） 每经头条（nbdtoutiao）——超10万人挤爆服务器，围观8家房企抢"马场"：9小时竞价243轮，236亿元 成交！广州楼面价新地王诞生：8.5万元/㎡ ...

Core Insights - The year 2025 is recognized as the "standardization year for 6G," with a consensus in the industry that 6G will not only enhance communication capabilities but also serve as a collaborative technology innovation platform deeply integrated with AI [1][3] - The transition of communication networks from "data pipelines" to "intelligent foundations" is crucial for supporting personal intelligence, embodied intelligence, and the digital upgrade of various industries, making it an essential infrastructure in the AI era [1] Group 1: Technological Advancements - Qualcomm has initiated systematic investments and explorations in multiple cutting-edge technology areas, leading industry research and promoting standardization for 6G, aiming to create an end-to-end system that encompasses terminal devices, networks, and computing infrastructure [3][6] - In foundational technology, Qualcomm is testing ultra-large-scale MIMO to support new wide-area capacity, providing feasible paths for operators to reduce costs and accelerate commercialization [3] - Qualcomm has achieved interoperability verification of wireless AI with Nokia Bell Labs, enabling AI training and collaborative operation between terminals and the cloud based on shared data or models [3] Group 2: Industry Evolution - Qualcomm's continuous investment and technological accumulation across multiple generational nodes have positioned it as a key player in the evolution of 6G, building on its historical contributions from 2G to 5G [5] - The integration of AI, expansion of spectrum resources, and enhancement of performance and perception capabilities in 6G are seen as new missions for communication technology, connecting the physical world with digital intelligence [5] - The upcoming MWC 2026 will showcase Qualcomm's vision for 6G, emphasizing its engineering and systematic approach to make 6G an innovative platform that transcends mere connectivity [6][8] Group 3: Future Applications - Qualcomm plans to demonstrate the natural, rapid, and reliable cross-terminal experience brought by the integration of 6G and AI during the MWC, focusing on the new layered services that operators can provide [8] - The transition from concept to prototype for 6G systems will be highlighted, showcasing innovations in multi-vendor RF calibration and AI-enabled advancements, as well as the latest developments in millimeter-wave NTN and scalable, high-fidelity wireless digital twins [8] - The industry is expected to recognize that 6G is not just an isolated generational upgrade but a systematic reconstruction centered around an AI-native communication system [8]

光迅科技公告称，公司于2026年2月26日收到深交所出具的审核中心意见告知函，其向特定对象发行股 票申请获深交所审核通过，认为公司符合发行、上市和信披要求。后续深交所将报中国证监会履行注册 程序。本次发行尚需获中国证监会同意注册方可实施，最终结果及时间不确定，公司将及时信披，提醒 投资者注意风险。 ...

信科移动发布业绩快报，2025年度实现营业总收入61.36亿元，同比减少5.47%；净利润亏损2.7亿元， 同比减亏870.9万元。报告期内，公司实现归属于母公司所有者的扣除非经常性损益的净利润-4.1亿元， 同比减亏1726.47万元；实现基本每股收益-0.08元，与去年基本持平。 ...

Market Performance - The A-share market showed mixed performance with the Shanghai Composite Index down 0.01% at 4146.63 points, the Shenzhen Component Index up 0.19% at 14503.79 points, and the ChiNext Index down 0.29% at 3344.98 points [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 25,568 billion yuan, an increase of 756 billion yuan compared to the previous day [1] Sector Performance - The electronic components, wind power equipment, communication equipment, power supply equipment, electronic chemicals, and power grid equipment sectors saw the largest gains [1] - The film and television, rare earth, insurance, and real estate development sectors experienced the largest declines [1] Investment Insights - According to institutional views, the overall market trend remains upward, with resource stocks like energy metals, steel, and rare earths undergoing corrections while sectors like computing hardware and commercial aerospace are gaining traction [3] - Investors are advised to focus on low-entry opportunities in previously popular sectors after corrections, with a long-term view on high-growth areas such as semiconductors, consumer electronics, artificial intelligence, and robotics [3] Lithium Market Impact - Zimbabwe's Ministry of Mines announced a ban on lithium ore exports, which is expected to significantly impact lithium prices as 19% of China's lithium concentrate imports come from Zimbabwe [3][5] - Companies with lithium mining interests in Zimbabwe, such as Shengxin Lithium Energy and Yahua Group, have stated that they are currently assessing the impact of this ban on their operations [5] Nvidia Financial Performance - Nvidia reported record revenue for the fourth quarter and the entire fiscal year 2026, with fourth-quarter revenue reaching 68.1 billion USD, a 20% increase from the previous quarter and a 73% increase year-over-year [6] - The company's full fiscal year revenue was 215.94 billion USD, a 65% increase from fiscal year 2025, with net profit for the fourth quarter at 42.96 billion USD, up 94% year-over-year [6] - Nvidia's data center business was a significant driver of this growth, with expectations for first-quarter revenue in fiscal year 2027 projected at 78 billion USD [6]

格隆汇2月26日｜东北证券研报指出，信科移动是从事移动通信国际标准制定、核心技术研发和产业化 的央企控股高新技术企业。公司专注于空天地一体的移动通信主业，面向5G新生态、6G预研、面向数 字化转型，为各类客户提供空天地一体化移动通信网络产品、技术服务及综合解决方案。公司布局卫星 互联网领域。全球商业航天领域加速发展，未来市场空间广阔。公司是移动通信领域领先企业，布局卫 星互联网未来空间广阔。预计公司2025-2027年营收63.3/72.0/85.0亿元，对应PS分别8.0/7.0/5.9倍。首次 覆盖，给予"增持"评级。 ...

Market Overview - The A-share market showed mixed performance on February 26, with the Shanghai Composite Index down 0.01% to 4146 points, the Shenzhen Component Index up 0.19%, and the ChiNext Index down 0.29% [1] - The total market turnover reached 2.56 trillion yuan, an increase of 757 billion yuan compared to the previous trading day, with over 2800 stocks declining [1] Sector Performance - AI hardware sectors, including CPO concepts, copper cable high-speed connections, and liquid-cooled servers, experienced significant gains, with multiple stocks hitting the daily limit [2][4] - The PCB and electronic components sectors also saw increases, with several stocks reaching their daily limit [2] - The controllable nuclear fusion sector strengthened, with stocks like Dongfang Electric hitting the daily limit [2] - Fertilizer, wind power, and rare metals sectors performed well, while the real estate sector opened high but closed lower, with Huazhong Holdings down over 7% [2] - The film and media sector continued to decline, with Bona Film Group hitting the limit down [2] Notable Stocks - Stocks such as Jieput, Juchang Optoelectronics, and Hengtong Optoelectronics saw significant gains, with Jieput rising 20% to 242.46 yuan [5] - The wind power equipment sector also showed strength, with Feiwo Technology rising over 7% [7] - The lithium mining sector surged, with Jinyuan Holdings hitting the daily limit and other stocks like Yalake Holdings and Rongjie Holdings also rising [9] External Influences - Nvidia reported a record quarterly revenue of $68.127 billion, with a year-on-year growth of 73%, significantly exceeding its guidance [4] - Zimbabwe announced an immediate suspension of all lithium ore and concentrate exports, which is expected to reduce global lithium supply and increase prices [8] - Goldman Sachs raised its forecast for global data center electricity demand growth from 175% to 220% by 2030, indicating a "super cycle" in infrastructure reliability driven by AI investments [6] Future Outlook - Dongguan Securities noted that A-shares often see a high win rate window after the Spring Festival, with expectations of policy support ahead of the Two Sessions [18] - The report suggests focusing on sectors such as dividends, TMT (Technology, Media, and Telecommunications), and power equipment for potential investment opportunities [18]

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 ...

资金净流入 涨幅榜 5日涨幅* 发电设备 通信设备 互联网 +4.19% +2.689 +2.91% 电子元器件 化肥农药 钢铁 +1.78% +2.24% +1.66° A股三大指数今日涨跌不一，截至收盘，沪指跌0.01%报4146点，深证成指涨0.19%，创业板指跌0.29%。全市场成交额2.56万亿元，较前一交易日增量757亿 元，超2800股下跌。 盘面上，英伟达业绩超预期，CPO概念、铜缆高速连接及液冷服务器等AI硬件板块集体爆发，烽火通信、亨通光电、中天科技等多股涨停；PCB、电子元件 板块走高，沪电股份等多股涨停；可控核聚变板块走强，东方电气等多股涨停；化肥、风电及稀有金属等板块涨幅居前。另外，房地产板块高开低走，华联 控股逾6%；影视传媒板块持续走低，博纳影业一度触及跌停；水产养殖、退税商店及石油石化等板块跌幅居前。(格隆汇) | 上证指数 | 深证成指 | 北证5( | | --- | --- | --- | | 4146.63 | 14503.79 | 1544.9 | | -0.60 -0.01% +27.92 +0.19% -2.29 -0 | | | | 科创50 | 创业板指 | ...