Core Viewpoint - Guoxin Technology stated that the recent share reduction by shareholders is based on their own needs, such as fund exits, and the company itself did not participate in the secondary market share reduction [1] Group 1 - The company confirmed that it is currently experiencing a strong order backlog and is fully committed to executing these orders [1] - The company is actively seeking to expand its new orders, with a majority of the current orders related to customized chip business [1] - The company emphasized that it does not have any credit default behavior [1]

每经记者｜涂颖浩 每经编辑 陈 旭 当对话式人工智能工具——ChatGPT点燃的全球AI（人工智能）训练竞赛逐渐开始白热化，一个更深层次的产业变革悄然发生。2025 年，被业界普遍视为"AI应用大爆发的元年"，智能体（Agent）正从概念走向现实。而在应用爆发的背后，是百倍增长的推理算力需求 与高昂成本之间的尖锐矛盾。在这场由"训练"转向"推理"的算力范式革命中，中国AI芯片产业能否抓住历史性机遇？ 视觉中国图 在日前举办的雪球嘉年华会议期间，云天励飞董事长兼CEO（首席执行官）陈宁在接受《每日经济新闻》记者专访时表示，人工智能 就像当年的第一台蒸汽机、第一个灯泡、第一台计算机，可以说，人工智能是未来五年科技突破的关键。 陈宁认为，中国在算法上已能够将跟世界先进水平之间的差距缩短至数月，甚至在应用、数据、能源、系统集成方面更有优势。 在陈宁看来，推理芯片赛道是中国实现"超车"的关键。这场关于重新定义算力的竞赛才刚刚吹响号角，中国第一次与全球站在相近的 起跑线。"我们有机会，也必须抓住这个机会。" 推理芯片展现巨大潜力 在陈宁看来，人工智能产业的发展可以清晰地划分为三个阶段。 第一阶段是2012年至2020年的 ...

Group 1 - The core theme of the article revolves around significant business events in 2025 that have reshaped the technology landscape, capital logic, and the direction of the era, highlighting the rise of AI competition and strategic alliances among major players [3][5][6]. - The U.S. government announced a $500 billion investment in AI infrastructure through the "Stargate" project, aiming to build 20 large-scale AI data centers, although the project faced delays and funding challenges [7][9]. - CoreWeave's IPO marked a pivotal moment for AI computing power rental, with its valuation soaring to approximately $230 billion, demonstrating the market's recognition of AI as a service [10][12][14]. - NVIDIA became the world's first company to reach a market capitalization of $5 trillion, driven by the surging demand for GPUs in AI applications, with its stock price increasing by about 90% over six months [29][31][32]. Group 2 - The article discusses the strategic partnership between NVIDIA and Intel, where NVIDIA invested $5 billion to strengthen its position in the CPU market, indicating a shift from competition to collaboration in the AI era [15][17][19]. - OpenAI, despite not being publicly listed, emerged as a significant market influencer, with its activities causing substantial fluctuations in stock prices across the AI sector [21][23][26]. - Germany's decision to revise its 2035 ban on internal combustion engines reflects the tension between aggressive transformation goals and market realities, allowing traditional industries more time to adapt [4][44][45].

Group 1: Company Growth and Market Position - The company is entering a critical growth phase, transitioning from steady to rapid growth due to significant R&D investments in AI SoC chips, particularly in edge computing and automotive sectors [2][3] - The company aims to become the leading supplier of automotive vision technology within five years, focusing on L2 level and below applications, with a substantial market size and clear competitive landscape [6] - The company has established partnerships with over 30 domestic and international clients, with a strong emphasis on expanding into the Japanese market [6] Group 2: Product Development and Innovations - The company launched several new products at the 2025 Developer Conference, including the SPAD chip for automotive laser radar with detection ranges of 300-600 meters and resolutions from 192 to over 1000 lines [3][4] - New chips for automotive visual perception and driver assistance were introduced, including the SAC8905 and SAC8712, with mass production expected in 2026 [3][4] - The company is also expanding its offerings in edge computing and robotics, with new chips designed for high-end intelligent hardware and various robotic applications [4][9] Group 3: Supply Chain and Competitive Strategy - The company employs an integrated "chip + built-in storage" model, providing a unique commercial advantage and ensuring competitive pricing through large-scale procurement [7] - In response to supply shortages and rising storage costs, the company has seen increased demand for its built-in storage products, enhancing its pricing power [7] - The company has a global sales presence, with over half of its sales coming from international markets, positioning itself as a key supplier in the overseas smart vision market [8][9] Group 4: Future Outlook and Market Trends - The company anticipates sustained growth in its robotics business, with over 10 million units shipped this year and plans to expand into various robotic categories [9] - The company is focused on developing differentiated products that address the needs of the "general robotics" market, targeting all intelligent devices with perception, control, and decision-making capabilities [9]

每经头条（nbdtoutiao）——绕开光刻机"卡脖子"，中国新型芯片问世！专访北大孙仲：支撑AI训练和 具身智能，可在28纳米及以上成熟工艺量产 （记者 王晓波） 每经AI快讯，水晶光电（SZ 002273，收盘价：24.71元）12月29日晚间发布公告称，公司第七届第五次 董事会会议于2025年12月29日以通讯表决的方式召开。会议审议了《关于修订 <董事会审计委员会议事 规则> 的议案》等文件。 截至发稿，水晶光电市值为344亿元。 ...

证券日报网讯 12月29日，电科芯片在互动平台回答投资者提问时表示，公司产品暂不涉及光通信相关 产品。 （文章来源：证券日报） ...

如果您希望可以时常见面，欢迎标星收藏哦~ 过去十年，算力的主线始终围绕着工艺微缩、架构优化和加速器堆叠展开。但今天，三条现实约束 正在同时收紧：先进制程推进的边际收益下降、数据中心能耗与散热成为系统级瓶颈、超大规模问 题的计算复杂度，开始超出经典计算的可承受范围。在这一背景下，量子计算不再被视为"遥远的 实验室技术"，而是被纳入算力长期演进路线的一部分。 在12月20日-21日的摩尔线程首届MUSA开发者大会上，摩尔线程与量子计算领域的领先企业图灵 量子正式签署战略合作协议，在英伟达凭借NVQLink布局"量子-经典协同"方案的全球背景下，这 一动作标志着中国版"量电融合"方案也正式开始试水。 QPU 与 GPU，一场"双向奔赴"的互补 长期以来，公众对量子计算存在一种误解——认为它将全面取代经典计算。但事实恰恰相反。 "GPU是'大数据、大计算'，擅长矩阵运算和大规模并行；而QPU是'小数据、超大计算'，适合处 理NP完全问题等极端复杂的搜索与模拟。"图灵量子算法负责人在采访中这样概括两者的分工。 在 NP 类问题中，这种差异尤为明显：当问题规模进入指数爆炸区间，即便是万卡 GPU 集群，也 只能在解空间边 ...

证券研究报告：宏观报告 发布时间：2025-12-29 研究所 分析师:李起 SAC 登记编号:S1340524110001 Email:liqi2@cnpsec.com 研究助理:高晓洁 SAC 登记编号:S1340124020001 Email:gaoxiaojie@cnpsec.com 近期研究报告 《工业企业利润延续放缓，结构性亮点 凸显》 - 2025.12.29 宏观观点 海外宏观周报：假期成交清淡，市场趋于平静 ⚫ 核心观点： | 1 海外宏观教据跟踪 | | --- | | 1.1 上周重要事件与数据跟踪 | | 1.2 本周重要数据与事件 | | 2 美联储观点跟踪 6 | | 3 风险提示 7 | 过去一年中，美元整体显著走弱。美元指数自年初高点约 110 持 续回落，跌至 98 附近。其背后的驱动因素是多方面的：一方面，美 国财政与贸易政策的不确定性上升，市场对财政可持续性的担忧加 剧，削弱了美元资产的长期吸引力；另一方面，美联储全年降息幅度 高于其他主要经济体，导致美国与主要发达经济体之间的利差明显收 窄。 展望后市，短期内，美元仍具备一定的结构性支撑。若美联储如 市场当前定价所隐含的 ...

人民财讯12月29日电，南芯科技(688484)12月29日公告，公司拟与行至存储科技(苏州)有限公司签订 《技术开发授权协议》，委托其定制开发适配于合作制造商及其产品的IP，并取得苏州行至交付的IP产 品的永久许可苏州行至从事新型存储芯片及嵌入式存储IP的设计、研发、销售和专业技术服务，具备存 储IP开发能力。 ...

北水净买入最多的个股是招商银行(03968)、华虹半导体(01347)、江西铜业股份(00358)。北水净卖出最 多的个股是中国移动(00941)、阿里巴巴-W(09988)、紫金矿业(02899)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W HK 09988 | 16.71 乙 | 24.86亿 | 41.57亿 -8.15 亿 | | 腾讯控股 | | | 34.90亿 | | HK 00700 | 21.80 乙 | 13.10亿 | +8.70亿 | | 中芯国际 | 13.28 亿 | 20.92亿 | 34.20亿 | | HK 00981 | | | -7.65 Z | | 小米集团-W | 13.04 乙 | 16.34 乙 | 29.38亿 | | HK 01810 | | | -3.29 乙 | | 中国移动 | 5.49 亿 | 16.28 乙 | 21.77 亿 | | HK 00941 | | | -10.79 亿 | | 美团-W | 8.43亿 | 8.87亿 | 17 ...