西部（重庆）科学城传来了一个好消息。 2025年12月29日，三安光电在投资者互动平台披露，其与意法半导体合资设立的安意法半导体公司已有几款产品完成验证，进入风险量产阶段。 | | | :三安光电(600703)童秘你好,意法半导体拿到了SpaceX星链的核 | | --- | --- | --- | | 12 | | 心供货合同,为星链基于BiCMOS工艺的射频前端模块/射频天线芯 | | 投资者_1590 | | 片,覆盖星链用户终端与卫星本体,同时配套提供微控制器、安全 | | 735360000 | | 单元、GNSS等产品,公司与英法半导体合资的安意法是否存在直接 | | | | 或者间接通过意法半导体供应星链卫星及总端产品。谢谢 | | | | 2025年12月29日 14:25 来自 网站 | | | 期 | 安意法生产碳化硅外延、芯片独家销售给意法半导体。目前已有 | | | | 几款产品完成验证,进入风险量产阶段。 | | 三安光电 | | | | | | 2025年12月29日 17:36 来自 网站 收藏 评论 | 按照业内人士的说法，风险量产是"小批量验证与大规模量产之间的工艺打磨期" ...

杰德・埃勒布鲁克几乎彻夜未眠。 那是 4 月 2 日周三晚间，特朗普总统刚刚现身白宫玫瑰园，手持一块大幅公告牌，上面赫然写着他将对 全球多国征收的惩罚性关祱税率。华尔街迅速意识到，特朗普此次是动真格的 —— 他要打破这个他口 中对美国不公的全球贸易体系。 来源：环球市场播报 当晚与家人用餐时，乃至整夜，埃勒布鲁克都在琢磨后续走势。当时亚洲市场暴跌，一场全球范围的股 市崩盘就此拉开序幕。作为银资本管理公司的投资组合经理，埃勒布鲁克与团队次日一早便在圣路易斯 的办公室紧急集结，着手分析关祱政策对持仓股票的影响。当天股市抛售潮愈演愈烈，其持仓占比最大 的亚马逊股价暴跌近 10%。 和从东京到纽约的全球投资者一样，埃勒布鲁克在这场罕见的市场波动中，仓促地完成了一场 "动荡应 对速成课"。标普 500 指数一度逼近熊市边缘，随后市场情绪却迅速反转，触发了数十年来最快的股市 反弹之一，最终推动这一基准指数创下历史新高。市场给出的核心启示是：保持冷静、敢于逢低买入， 终有回报。 美国经济的起伏与人工智能热潮固然对市场影响深远，但 2025 年的诸多市场波动，根源大多指向白 宫。 加拿大银行信贷分析公司首席美国股票策略师艾琳 ...

东芯股份公告称，截至目前，公司募投项目已全部结项，节余募集资金已永久补充流动资金。最近12个 月内，公司已累计投入32.26亿元进行现金管理，总收益达5033.35万元，尚有1.51亿元额度未使用。截 至2025年12月31日，公司超募资金累计使用14.93亿元，包括两次永久补充流动资金及两次股份回购。 公司计划于2026年1月3日起12个月内，使用不超9.7亿元暂时闲置超募资金及其利息进行现金管理，购 买符合保本要求的产品以增加收益。该事项已获董事会通过，无需提交股东会审议。 ...

值得关注的是，上峰水泥通过多元路径深度绑定这一半导体核心资产：一方面通过兰璞创投直接投资2 亿元，另一方面借助参股的中建材新材料基金追加2亿元投资；此外，其投资5000万元的鑫丰科技作为 长鑫科技供应链核心企业，99%的业务量来源于后者，形成了"直接投资+基金联动+产业链配套"的立体 布局。 这一系列投资并非偶然。近五年，上峰水泥坚定践行"主业+投资"双轮驱动战略，在稳固水泥主业现金 流优势的同时，将半导体作为战略性投资重点，联合专业投资机构在集成电路设计、制造、设备、材料 等关键环节完成全产业链布局。目前，其投资的上海超硅、盛合晶微、晶合集成等多家企业已上市或进 入上市进程，2025年前三季度新经济投资贡献利润已占公司整体利润的1/3。 未来，上峰水泥将持续立足建材主业，以投资为纽带赋能新质材料业务，逐步构建"水泥主业+新经济 投资+新质材料"的"三驾马车"发展格局。随着长鑫科技等优质标的陆续登陆资本市场，上峰水泥的跨界 投资价值有望进一步释放，为企业转型升级注入持续动力。(秦声) 2025年12月30日，上海证券交易所正式受理长鑫科技集团股份有限公司(以下简称"长鑫科技")科创板上 市申请，这一里程碑事件 ...

Market Performance - The three major A-share indices opened higher on December 31, but experienced fluctuations, with the ChiNext Index dropping over 1% [1] - By the close, the Shanghai Composite Index rose 0.09% to 3968.84 points, while the ChiNext Index fell 1.23% to 3203.17 points [1][2] Stock Movement - A total of 2470 stocks rose, while 2768 stocks fell, with 221 stocks remaining flat [3] - The total trading volume in the Shanghai and Shenzhen markets was 20,451 billion yuan, a decrease of 972 billion yuan from the previous trading day [3] Sector Performance - The defense and military sector continued to rise significantly, with multiple stocks hitting the daily limit or increasing over 10% [5] - The real estate sector also performed well, with several stocks reaching the daily limit and others increasing over 5% [5] - AI application concept stocks surged, with notable gains in media stocks, indicating a strong market interest in AI-related investments [5] Market Outlook - Dongguan Securities suggests that the A-share market is entering a slow bull phase, driven by improved liquidity expectations and institutional support [7] - Debon Securities maintains that the slow bull market remains intact, with the Shanghai Composite Index approaching 4000 points and a stable trading volume around 20 trillion yuan [8] - Zheshang Securities anticipates that the focus will shift to policy expectations and industry trends in early 2026, with a potential active performance in small and mid-cap growth stocks [9]

专题：2026年A股能冲多高？机构普遍看涨至4000点上方 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月31日消息，三大股指涨跌不一，深成指、创指高开低走，创指跌超1%。板块方面，商业航天概念 持续爆发，十余只成分股涨停，中国卫通4天2板续创历史新高；AI应用端表现活跃，福石控股涨超 10%；数字货币概念震荡走强，易点天下涨近10%涨幅居前；下跌方面，白酒板块持续下挫，古井贡酒 跌幅居前；半导体概念股集体走低，赛微电子、寒武纪领跌；贵金属板块震荡走弱，晓程科技领跌。总 体来看，个股跌多涨少，下跌个股超2700只。截至收盘，沪指报3968.84点，涨0.09%；深成指报 13525.02点，跌0.58%；创指报3203.17点，跌1.23%。 盘面上，小红书概念、军工电子、机场航运板块涨幅居前，化学纤维、医药商业、种植业与林业板块跌 幅居前。 2025年A股市场呈现"结构性牛市"特征。创业板指以49.57%的年度涨幅强势领跑，沪指于10月28日一举 突破4000点大关，创下近十年新高，全年上涨18.41%，深证 ...

Market Overview - The Hang Seng Index closed at 25,855, down 0.86% for the day but up 28.89% year-to-date[1] - The Hang Seng Technology Index rose 1.74% to 5,578, with a year-to-date increase of 24.85%[1] - The Hang Seng China Enterprises Index increased by 1.12% to 8,991, with a year-to-date rise of 23.34%[1] Sector Performance - Baidu's stock surged nearly 9% due to advancements in AI and smart cloud business, with significant growth in its self-developed AI chip and smart driving orders[7] - The semiconductor sector saw strong gains, with InnoTek rising over 15% and SMIC up more than 4% following Nvidia's announcement of partnerships for a new power architecture[7] - Robotics stocks were active, with Yujing Technology up over 13% and Sanhua Intelligent Control up over 12%, supported by a significant increase in industrial robot production[7] Oil and Entertainment - Oil stocks continued to perform well, with CNOOC rising nearly 4% as international oil prices increased due to geopolitical tensions[7] - The entertainment sector saw a boost, with Emperor Culture Industries rising nearly 9% as the 2025 New Year box office surpassed 5.3 billion yuan, a near eight-year high[7] Economic Indicators - The WTI crude oil price surpassed $58 per barrel, while Brent crude approached $62 per barrel, driven by rising geopolitical risks[7] - The US Federal Reserve indicated potential future interest rate cuts if inflation continues to decline, as noted in the December meeting minutes[11]

盘面上，昨日拉升助力大市上涨的大型科技股集体低迷，京东、快手、阿里巴巴、小米、腾讯均下跌， 唯独百度再涨1.39%；2026年汽车以旧换新补贴细则发布，汽车股呈现高开低走行情，"蔚小理"等皆转 跌；美政府已颁发许可证，批准韩企向中国出口芯片制造设备，昨日拉升的半导体股走低，家电股、保 险股、风电股、煤炭股纷纷表现弱势。 格隆汇12月31日｜受元旦假期影响，港股下午开始休市，三大指数上午盘集体收跌，且呈现高开低走行 情，收官日表现低迷。截止收盘，恒生指数跌0.87%报25630点，国企指数跌0.86%报8913点，恒生科技 指数跌1.12%报5515点。25年收官：恒指、国指、恒生科技指数分别上涨27.77%、22.27%、23.45%。 来源：格隆汇APP 注：2026年元旦假期将至，港股12月31日(周三)半天市，下午开始休市，1月1日(周四)休市，共1.5天假 期，周五正常开市。(格隆汇) 另一方面，元旦假期旺季来临，航空股、影视股等受益于相关板块走势活跃，尤其是三大航空股皆强 势，猫眼娱乐等上涨；铜价创十余年最佳年度表现，铜业股是唯一上涨的有色金属股，其中江西铜业股 份再创历史新高。 ...

Core Insights - The explosive growth of AI and high-performance computing is driving an exponential increase in computing demand, leading to a significant challenge known as the "storage wall" [1][2] - The competition for AI and high-performance computing chips will focus not only on transistor density and frequency but also on memory subsystem performance, energy efficiency, and integration innovation [1][4] Group 1: AI and Computing Demand - The evolution of AI models has led to a dramatic increase in computational requirements, with model parameters rising from millions to trillions, resulting in a training computation increase of over 10^18 times in the past 70 years [2][4] - The growth rate of computational performance has significantly outpaced that of memory bandwidth, creating a "bandwidth wall" that limits overall system performance [4][7] Group 2: Memory Technology Challenges - The traditional memory technologies are struggling to meet the unprecedented demands for performance, power consumption, and area (PPA) from various applications, including large language models and edge devices [1][4] - The average growth of DRAM bandwidth over the past 20 years has only been 100 times, compared to a 60,000 times increase in hardware peak floating-point performance [4][7] Group 3: TSMC's Strategic Insights - TSMC emphasizes that the future evolution of memory technology will revolve around "storage-compute synergy," transitioning from traditional on-chip caches to integrated memory solutions that enhance performance and energy efficiency [7][11] - TSMC is focusing on optimizing embedded memory technologies such as SRAM, MRAM, and DCiM to address the challenges posed by AI and HPC demands [11][33] Group 4: SRAM Technology - SRAM is identified as a key technology for high-speed embedded memory, offering low latency, high bandwidth, and low power consumption, making it essential for various high-performance chips [12][16] - The area scaling of SRAM is critical for optimizing chip performance, but it faces challenges as technology nodes advance to 2nm [12][17] Group 5: Computing-in-Memory (CIM) - CIM architecture represents a revolutionary approach that integrates computing capabilities directly into memory arrays, significantly reducing energy consumption and latency associated with data movement [21][24] - TSMC believes that DCiM (Digital Computing-in-Memory) has greater potential than ACiM (Analog Computing-in-Memory) due to its compatibility with advanced processes and flexibility in precision control [26][28] Group 6: MRAM Technology - MRAM is emerging as a viable alternative to traditional embedded flash memory, offering non-volatility, high reliability, and durability, making it suitable for applications in automotive electronics and edge AI [33][35] - TSMC's N16 FinFET embedded MRAM technology meets stringent automotive requirements, showcasing its potential in high-performance applications [39][49] Group 7: System-Level Integration - TSMC advocates for a system-level approach to memory technology breakthroughs, emphasizing the need for 3D packaging and chiplet integration to achieve high bandwidth and low latency [50][54] - The future of AI chips may see a blurring of boundaries between memory and computation, with innovations in 3D stacking and integrated voltage regulators enhancing overall system performance [60][61] Group 8: Future Outlook - The future of storage technology in AI computing is characterized by a comprehensive innovation revolution, with TSMC's roadmap focusing on SRAM, MRAM, and DCiM to overcome the "bandwidth wall" and energy efficiency challenges [62] - The ability to achieve full-stack optimization from transistors to systems will be crucial for leading the next era of AI computing [62]

发言人说，中方再次呼吁，荷方切勿一意孤行，应立即纠正错误，为恢复全球半导体产供链的稳定与安 全扫清障碍。(完) 来源：中国新闻网 商务部：荷方切勿一意孤行 应立即纠正错误 中新社北京12月31日电 (记者 尹倩芸)就荷兰经济大臣卡雷曼斯接受采访，中国商务部新闻发言人2025 年12月31日答记者问时称，中方呼吁荷方切勿一意孤行，应立即纠正错误。 近日，荷兰经济大臣卡雷曼斯接受荷兰媒体采访时称，对安世半导体采取强硬措施确有必要。 发言人对此表示，中方已多次强调，荷方对安世半导体企业内部事务的不当行政干预，已导致全球半导 体供应链危机，荷方必须对此承担全部责任。令人困惑的是，面对全球业界焦虑和不安，荷方依然无动 于衷固执己见，完全没有展现出对全球半导体产供链安全负责任的态度，更没有任何实质性行动。 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 编辑：张澍楠 广告等商务合作，请点击这里 ...