Group 1: Theme Investment Strategy - The report aims to create a tool for theme investment by identifying theme opportunities through comprehensive screening of theme indices[2] - It emphasizes the importance of recognizing "right-side trend" opportunities, which can lead to significant and prolonged price increases[5] - A three-dimensional warning system for market peaks is constructed, focusing on trading heat, BOLL indicators, and major bearish line breaks[19] Group 2: Performance Metrics - Backtesting results indicate that the right-side trend pattern shows significant excess returns, particularly in 2023 and 2024, outperforming other strategies[27] - The proportion of indices with a fund holding ratio of 2-5% is the highest at 43.4%, with the highest fund holding ratio in technology theme indices at 20.4%[30] - The average return for the right-side trend signals is notably higher during volatile and upward market conditions, with a win rate improvement observed[24] Group 3: Risk Factors - Historical performance does not guarantee future results, and investors should consider current market conditions and economic trends[42] - Risks include slower-than-expected domestic economic recovery, geopolitical tensions, and uncertainties in global monetary policy[42] - The report warns of industry-specific uncertainties due to rapid technological changes and evolving consumer preferences[42]

Group 1 - The core viewpoint of the news is that the approval of NVIDIA's H200 AI chip sales to China is expected to benefit the domestic AI industry chain and computing power in China [1][2] - The recent performance of the ChiNext 50 ETF (588000) shows a significant inflow of funds, with a net inflow of 1.722 billion in the last three days and 1.847 billion in the last five days, indicating strong investor interest [1] - The ChiNext 50 ETF tracks the ChiNext 50 Index, which has a high concentration in the electronics sector (69.39%) and computer industry (4.88%), aligning well with the development of cutting-edge industries like AI and robotics [2] Group 2 - If the H200 chip is approved, it is expected to restart demand for NVIDIA's series of computing servers, which will positively impact AI servers, supernode servers, and server power supply sectors [2] - The approval may also enhance demand for supporting infrastructure such as data centers, power supply, and cooling equipment, which are essential for AI server adaptation [2] - The recovery of supply for chips like the H200 could drive the upgrade of domestic large models and accelerate the development of the domestic AI ecosystem, benefiting the domestic chip sector in the long term [2]

以下文章来源于申万宏源证券上海分公司 ，作者李金玲 申万宏源证券上海分公司 . 申万宏源证券上海分公司官微，能为您提供账户开立、软件下载、研究所及投顾资讯等综合服务，为您的财富保驾护航。 数据速看： 1.主力资金： 近两周主力资金合计净流出183.86亿元，主力资金净流入额前三的行业为汽车、建筑材料和家用电器，主力资金净流出额前三的行业为计算 机、传媒和电力设备。 2.融资融券数据： 当前市场融资融券余额为24838.69亿元，较上期下降0.31%，其中融资余额24664.89亿元，融券余额173.81亿元。本期两融日均交易额为 1726.02亿元，较上期下降16.64%，其中融资日均净买入1718.38亿元，较两周前下降16.73%，融券日均净卖出7.64亿元，较上期下降10.04%。近两周融资 净买入前三的行业分别为通信、电子和国防军工；融券净卖出前三的行业分别为计算机、传媒和汽车。 3.涨跌情况： 近两周全市场下跌家数高于上涨家数，近两周只有两个行业实现上涨，为食品饮料和银行，跌幅前三的行业为非银金融、机械设备和传媒。 4.强弱分析： 近两周全部A股强弱分析得分为6.20，沪深300强弱分析得分5.61 ...

Core Viewpoint - A total of 16 companies have announced their performance forecasts for the year 2025, with 12 companies expecting profit increases and 2 companies anticipating profit declines [1] Performance Forecast Summary - **Profit Increase Companies**: - N Baiao (688796): Expected profit increase of 303.57% [1] - C Moore (688795): Expected loss reduction of 41.36% [1] - Luxshare Precision (002475): Expected profit increase of 26.09% [1] - Hongyuan (920018): Expected profit increase of 21.42% [1] - Aomei (920080): Expected profit increase of 16.44% [1] - Nant (920124): Expected profit increase of 13.02% [1] - China Uranium Industry (001280): Expected profit increase of 11.42% [1] - Taikai Ying (920020): Expected profit increase of 10.44% [1] - Danna Biotech (920009): Expected profit increase of 8.92% [1] - Xintong Electronics (001388): Expected profit increase of 5.40% [1] - Jingchuang Electric (920035): Expected profit increase of 5.00% [1] - New Henghui (301678): Expected profit increase of 4.66% [1] - Nansoft Digital (301638): Expected profit increase of 2.76% [1] - **Profit Steady and Decline Companies**: - Hai'an Group (001233): Expected steady profit with a change of 0.14% [1] - Zhongcheng Consulting (920003): Expected profit decline of -4.14% [1] - Jinhua New Materials (920015): Expected profit decline of -5.47% [1]

智通财经记者 | 宋佳楠 源：视觉中国 图片来 中科曙光方面也表达了类似的态度，称后续仍将围绕高端计算机核心业务，在超节点智算算力、科学大 模型开发平台、超集群系统等前沿技术方面，针对智能计算、算力调度、数据中心解决方案等领域布 局。 回溯半年前，这场重组曾引发行业震动。5月25日，两家公司宣布筹划由海光信息换股吸收合并中科曙 光，交易金额约1159.67亿元。该交易也成为5月16日证监会重组新规落地后的首单上市公司间吸收合并 案例。 根据当时预案，中科曙光换股价格为79.26元/股，海光信息换股价格为143.46元/股，合并后中科曙光将 终止上市，海光信息承接其全部资产与业务，并拟募集配套资金。 此次重组的核心逻辑源于双方互补的产业定位，若合并成功，可形成"芯片-整机-系统-服务"的闭环。 一场筹划半年多的千亿级整合最终落空。 12月9日晚间，海光信息（688041.SH）与中科曙光（603019.SH）同步发布公告，宣布终止此前筹划的 重大资产重组事项。 海光信息方面表示，公司于当日召开公司第二届董事会第十七次会议审议通过了《关于终止换股吸收合 并曙光信息产业股份有限公司并募集配套资金暨关联交易的议案》， ...

根据材料所与横琴材毅、瑞森美一号、瑞森美二号、横琴维腾、横琴琼雷共同签署《一致行动人协议》，材料所通过其一致行动人控 制公司24.49%股份的表决权。因此，材料所合计控制公司59.80%股份的表决权。 | 辅导对象 | | 上海维安电子股份有限公司(以下简称"维安股份"、"公司") | | | | --- | --- | --- | --- | --- | | 成立日 | 期 | 1996年5月2日 | | | | 注册资本 | | 6,382.2523万元 | 法定代表人 | 王军 | | 注册 # 址 | | 上海市虹口区柳营路 125号 8楼 806 室 | | | | 股 | 控股股东及持 比例 | 上海材料研究所有限公司持股 35. 31% | | | | 行业分类 | | C39 计算机、通信和其他 无 电子设备制造业 | 在其他交易场 所(申请)挂 牌或上市的情 | | | | | 况 公司曾于 2023年6月申请上海证券交易所主板首次公开发行, | | | | 各 | 注 | 因市场环境变化,公司向上海证券交易所申请撤回上市申请。 | | | | | | 2025年1月,上海证券交易所决定终止 ...

Group 1 - The core point of the news is that Haiguang Information and Zhongke Shuguang have announced the termination of their proposed share swap merger, which was initially planned to consolidate their operations [2][3] - Both companies expressed apologies for any inconvenience caused to investors due to the termination of the major asset restructuring [2] - The termination was attributed to the large scale of the transaction, the involvement of multiple parties, and significant changes in the market environment since the initial planning [3] Group 2 - Despite the termination, both companies confirmed that their production and operational conditions remain normal, and they will continue to collaborate closely on system-level product applications [4] - Zhongke Shuguang plans to focus on high-end computing core businesses and will continue to develop technologies in intelligent computing and data center solutions [4] - Haiguang Information aims to leverage its high-end chip products and collaborate with industry partners to enhance its AI stack capabilities and maintain its competitive edge [5] Group 3 - As of December 9, Zhongke Shuguang's stock closed at 100.13 yuan per share, with a total market capitalization of 146.5 billion yuan, while Haiguang Information's stock closed at 219.3 yuan per share, with a total market capitalization of 509.7 billion yuan [6]

4、今天的市场焦点无疑是CPO概念。直接催化因素是有关英伟达被允许向中国出售H200 AI芯片的消息。虽然附加了条件，但强化了全球AI算力投资高景 气的预期，为国产算力产业链带来了明确的订单预期。相关龙头股大幅上涨，对创业板指数贡献显著。 来源：股市你金哥 1、最核心的压力来自外部环境。美联储最新会议纪要流露出"鹰派"姿态，暗示明年降息步伐可能慢于预期。且，临近公布基准利率的时间，市场给出的概 率一直没有超过90%，引发市场担忧。同时，日本央行加息在即，这可能引发全球套息交易平仓，导致资金从新兴市场回流。给以A股方面风险资产带来压 力。 2、以有色金属、房地产、煤炭、券商为代表的传统周期板块和金融板块今日表现不佳。这主要受全球大宗商品价格波动、美元走强以及结构调整的影响， 直接导致A股相关板块全线回调。 3、临近年底，A股市场本身也面临一些压力。近期出现了密集的减持潮，且整体成交额较前一日有所萎缩，反映出资金观望情绪较浓。部分权重板块如券 商股表现疲软，也对大盘指数形成了拖累。 一、今日A股复盘： 今天A股分化涨跌十分严重，个股普跌，超4000只个股下跌。我认为有以下原因： 书写不易，劳心劳力！ 5、CPO龙 ...

- The provided content does not include any quantitative models or factors, nor their construction, evaluation, or backtesting results

丨证券研究报告丨 行业研究丨行业周报丨软件与服务 [Table_Title] 2025 年第 49 周计算机行业周报： 朱雀三号发射入轨，关注商业航天产业进展 报告要点 [Table_Summary] 上周计算机板块小幅回撤，整体下跌 1.66%，在长江一级行业中排名第 27 位，两市成交额占 比为 7.12%，商业航天相关标的活跃。上周 DeepSeek-V3.2 和 DeepSeek-V3.2-Speciale 正 式发布；豆包手机助手以技术预览版正式亮相，搭载该功能的努比亚（nubia）M153 工程样机 同步开售；"2025 脑机接口大会"在上海成功举办。本周建议关注产业链各环节的核心供应商， 重点关注卫星应用相关标的。 宗建树 陈耀文 SAC：S0490520030004 SAC：S0490525070002 SFC：BUX668 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 分析师及联系人 [Table_Author] 丨证券研究报告丨 上周关键词：DeepSeek-V3.2、豆包手机助手、脑机接口 2025-12-09 重点推荐：商业航天 朱雀三 ...