Group 1 - The market is likely to face a correction after five consecutive days of gains, but the adjustment may not be significant due to some short sellers exiting their positions [1] - Investors holding stocks are advised to consider high sell-low buy strategies, while those without positions should look to enter around the 20-day moving average during the correction [1] - The commercial aerospace sector is experiencing divergence due to the failure of the Long March 12 rocket recovery, with some stocks hitting the limit down, but the overall market sentiment remains cautious about the sector's future performance [1] Group 2 - The chip and liquid cooling sectors showed good performance, with expectations of a rebound following a previous correlation with the index, but there is a need to monitor which stocks can unify after initial divergence [2] - Consumer stocks were expected to perform well during the market pullback, but key stocks experienced a high-to-low reversal, raising concerns if they do not recover soon [2] - Other sectors like lithium batteries, chemicals, and resource stocks were influenced by news but did not exhibit strong sector effects, indicating a lack of significant momentum [2]

智通财经APP讯，贝仕达克(300822.SZ)发布公告，为促进公司长远发展，充分借助专业投资机构的专业 资源与投资管理优势，公司拟与专业投资机构力合中科私募股权基金管理(深圳)有限公司(以下简称"力 合中科")及公司实际控制人、董事长兼总经理肖萍先生之子肖龙涛先生等投资人共同投资深圳力合算芯 二号创业投资企业(有限合伙)(以下简称"合伙企业"、"基金")，并签署《深圳力合算芯二号创业投资企 业(有限合伙)合伙协议》(以下简称"合伙协议")。公司拟使用自有资金认缴出资不超过2000万元(含)，认 缴出资比例为12.8452%。合伙企业的投资方向为GPU算力芯片及相关领域的未上市企业。 ...

格隆汇12月23日丨贝仕达克(300822.SZ)公布，为促进公司长远发展，充分借助专业投资机构的专业资 源与投资管理优势，公司拟与专业投资机构力合中科私募股权基金管理（深圳）有限公司（简称"力合 中科"）及公司实际控制人、董事长兼总经理肖萍先生之子肖龙涛先生；罗辑先生；陈文宏先生；上海 朗临电气有限公司（简称"朗临电气"）；深圳市昊天林新能源科技有限公司（简称"昊天林"）；海南裕 宝通科技有限公司（简称"裕宝通"）；六安名家汇光电科技有限公司（简称"名家汇光电"）共同投资深 圳力合算芯二号创业投资企业（有限合伙）（简称"合伙企业"、"基金"），并签署《深圳力合算芯二号 创业投资企业（有限合伙）合伙协议》。公司拟使用自有资金认缴出资不超过2,000万元（含），认缴 出资比例为12.8452%。合伙企业的投资方向为GPU算力芯片及相关领域的未上市企业。 ...

格隆汇12月23日丨贝仕达克(300822.SZ)公布，为促进公司长远发展，充分借助专业投资机构的专业资 源与投资管理优势，公司拟与专业投资机构力合中科私募股权基金管理（深圳）有限公司（简称"力合 中科"）及公司实际控制人、董事长兼总经理肖萍先生之子肖龙涛先生；罗辑先生；陈文宏先生；上海 朗临电气有限公司（简称"朗临电气"）；深圳市昊天林新能源科技有限公司（简称"昊天林"）；海南裕 宝通科技有限公司（简称"裕宝通"）；六安名家汇光电科技有限公司（简称"名家汇光电"）共同投资深 圳力合算芯二号创业投资企业（有限合伙）（简称"合伙企业"、"基金"），并签署《深圳力合算芯二号 创业投资企业（有限合伙）合伙协议》。公司拟使用自有资金认缴出资不超过2,000万元（含），认缴 出资比例为12.8452%。合伙企业的投资方向为GPU算力芯片及相关领域的未上市企业。 ...

格隆汇12月23日｜贝仕达克(300822.SZ)公告称，公司拟与力合中科私募股权基金管理（深圳）有限公 司及公司实际控制人之子肖龙涛等共同投资深圳力合算芯二号创业投资企业（有限合伙），公司拟使用 自有资金认缴出资不超过2,000万元，认缴出资比例为12.8452%。合伙企业投资方向为GPU算力芯片及 相关领域的未上市企业。 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 以前跟随为主，现在慢慢走到无人区，可参考的地方越来越少了。米硅已全面着手研发4*224G ASP(CDR)系列产品，4*448G ASP 系列已在蓝图。一边定义下一代产品，一边把技术边界再往前 推，前面没有参照物，就自己成为坐标。 关于米硅科技 技术原理对比： CDR(时钟数据恢复)通过模拟电路提取时钟信号，主要解决抖动问题。核心组件包括鉴相器、锁相 环(PLL)和频率检测器，像传统相机的光学防抖，用物理方式稳定信号。 ODSP(光学数字信号处理)采用ADC将模拟信号数字化，通过数学算法补偿光纤损耗、色散和非线 性效应 >。相当于用Photoshop的AI算法逐像素修复，能处理PAM4/相干调制等复杂信号。 算力中心短距连接 米硅科技的4x112G PAM4 CDR核心技术除了400G、800G光模块可替代oDSP方案打破海外垄断 同时成本功耗降50%-70%, 同时也可用于400G、800G AEC方案，在3-7米铜缆传输场景替代传统 DSP方案，成本功耗可降低50-70% 新的挑战，新的规划 米硅科技首款自研4X112G ASP(CDR)电芯片收发套片ms8904 ...

政策层面，美联储内部对后续路径的分歧持续影响市场定价。美联储理事斯蒂芬·米兰指出，若政策环 境无法继续放松，经济下行风险可能上升，该表态进一步强化了市场对未来宽松空间的定价。在此背景 下，美元指数在GDP数据公布前维持弱势整理，整体技术结构仍偏承压。与此同时，市场亦关注GDP价 格指数等通胀分项数据，其变化将直接影响美联储对增长与通胀平衡的判断。在假期流动性不足的环境 中，美元对单一数据的短线敏感度有所放大。 外汇市场中，日元表现相对突出。周二亚欧时段，日元连续第二个交易日走强，美元/日元在156.00关 口附近持续承压。日本财务大臣片山五月及外汇事务官员接连释放偏强立场，强化了市场对官方干预的 预期。与此同时，日本央行并未排除进一步加息的可能性。在上周将政策利率上调至三十年来高位后， 日本10年期国债收益率升至26年新高，与市场普遍预期美联储在2026年继续降息形成鲜明对照。政策分 化叠加地缘政治不确定性，使日元在年末阶段获得持续支撑。 从交易层面看，当前市场正处于假期效应与宏观数据窗口交汇阶段。股指期货整体波动受限，趋势性机 会有限，更适合以区间交易与事件驱动为主；外汇市场中，美元整体偏弱，但在关键数据公 ...

格隆汇12月23日丨北京君正(300223.SZ)在投资者互动平台表示，公司车规互联芯片主要为LIN、CAN、 GreenPHY等产品，可应用于不同等级为汽车。 ...

Group 1 - The core viewpoint emphasizes the need for high-quality governance to drive the development of listed companies, which play a strategic role in the national economy with a total market value exceeding 100 trillion yuan and significant profit growth [1] - Listed companies are identified as the main force for innovation, contributing 45% of R&D investment in key areas such as chips, new energy, and artificial intelligence [1] - The report highlights the increasing scale of cash dividends and share buybacks, showcasing listed companies as role models in social responsibility [1] Group 2 - The "China Listed Company Governance Classification Index Report No. 24 (2025)" covers 5,292 listed companies with over one million data points, indicating an overall positive trend in corporate governance [2] - Key indices such as protection of minority investors, board governance, entrepreneurial capability, and financial governance have shown significant improvement, although voluntary information disclosure and executive compensation indices have declined [2] - State-controlled listed companies outperform non-state-controlled companies in protecting minority investors, indicating a need for enhanced rights and supervisory powers across various types of companies [2]

Core Insights - Nvidia has made a significant strategic shift in its cloud business, moving away from competing directly with AWS and focusing on internal needs for its chips [2][3] - The restructuring involves integrating the DGX Cloud team into the engineering and operations organization, which will now primarily serve Nvidia engineers rather than external enterprise clients [3][4] Summary by Sections Cloud Business Strategy - Nvidia's CEO Jensen Huang has abandoned the vision of creating a cloud service to compete with AWS, opting instead for a strategy that prioritizes internal chip demand [3][4] - The DGX Cloud service, initially aimed at establishing direct relationships with AI developers, will now focus on supporting Nvidia's internal engineering needs [5][8] Team Restructuring - The cloud team, consisting of hundreds of employees, has been merged into the engineering and operations division led by senior vice president Dwight Diercks [3][4] - Key personnel changes have occurred, including the reassignment of executives and the departure of some team members [3][4] Market Challenges - Nvidia's DGX Cloud has struggled to attract sufficient customers, partly due to operational challenges in providing support across different cloud service providers [7] - The company has been cautious about expanding this business to avoid upsetting major chip customers who are also cloud service providers [7] Financial Outlook - Earlier this year, Nvidia indicated that its cloud business could potentially generate $150 billion in revenue, surpassing AWS's current annual revenue [8] - Nvidia plans to invest $26 billion in renting servers over the next few years to support its cloud initiatives [10] Competitive Landscape - Despite competition from companies like Google and Amazon, Nvidia maintains a strong position in the AI chip market [9] - Nvidia has become one of the largest renters of its own servers, which are procured from AWS and Google, while also using them for developing various AI models [9]