11月19日，信邦智能发布几则公告，28.56亿元的收购进一步推进。 根据收购报告书修订稿，信邦智能拟通过发行股份及支付现金方式，购买无锡英迪芯微电子科技股份有限公司（下称"英迪芯微"或标的公司）100% 股权。此次收购采用市场法评估结论，收购增值率高达432%。 标的公司28亿元估值所采用的市场法评估结论存疑，标的公司汽车芯片的收入占比超过了94%，而上市公司选择的4家可比公司中有3家公司汽车芯片 收入占比低于17%，另外一家低于37%。2024年12月份的股权转让，对应的标的公司估值仅20亿元。 与同行公司相比，标的公司英迪芯微的研发费用率畸低，不仅最低还显著低于同行公司平均值。此外，标的公司核心产品单价不断降低、产销率不 断降低，去年净利润也大降，能否完成业绩承诺存疑。 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！ 出品：新浪财经上市公司研究院 作者：IPO再融资组/郑权 上市公司账面资金或将被"掏空" 标的公司估值28亿元是否偏高？ 资料显示，信邦智能主要从事与工业机器人、协作机器人相关的智能化、自动化生产线及成套装备等的设计、研发、制造、集成和销售，下游应用 覆盖汽车、航 ...

来源：格隆汇APP 格隆汇11月21日｜金融市场独立研究员佩雷拉(Shanaka Anslem Perera)发文称，昨日，一场史无前例的 剧变发生。英伟达股价在财报发布后飙升5%，却在18小时内暴跌至负值区间。华尔街算法捕捉到了人 类未能察觉的异常：账面数据存在严重矛盾。具体发现如下： 硅谷风投教父彼得·蒂尔于11月9日抛售价值1亿美元的英伟达股票。软银集团11月11日抛售58亿美元持 股。"大空头"迈克尔·伯里买入看跌期权，押注英伟达股价将在2026年3月前跌至140美元。 与人工智能投机密切相关的比特币，已从10月的12.6万美元跌至今日的89,567美元，跌幅达29%。人工 智能初创企业持有价值268亿美元的比特币作为贷款抵押品。当英伟达股价再跌40%时，这些贷款将违 约，迫使抛售230亿美元比特币，导致加密货币崩盘至5.2万美元。 时间线已然明朗：2026年2月，英伟达公布财报揭露逾期账款规模；2026年3月，评级机构下调信用评 级；2026年4月，首次财务重述。这场耗时18个月构筑的骗局，在90天内土崩瓦解。 | | October 26, | | January 26, | | | --- | ...

主要货币表 | | 汇率 | 1M 升跌 | 6M 升跌 | | --- | --- | --- | --- | | 人民币指数 | 97.830 | +0.52% | +1.35% | | 美汇指数 | 100.229 | +1.67% | +0.11% | | 港币/人民币 | 0.914 | +0.29% | +0.89% | | 人民币/美元 | 0.141 | -0.09% | -1.41% | | 欧元/美元 | 1.152 | -1.06% | +2.09% | | 美元/日元 | 157.260 | -4.13% | -8.10% | | 英镑/美元 | 1.306 | -2.54% | -2.46% | | 美元/瑞士法郎 | 0.806 | -1.67% | +2.77% | 微信扫码关注【越秀证券】 越秀证券公众号 越秀证券研究订阅号 | 主要商品表 | | | | | --- | --- | --- | --- | | (货币：美元) | 最新价 | 1M 升跌 | 6M 升跌 | | 布伦特原油(桶) | 63.910 | +4.99% | +0.28% | | 天然气(1mnBtu ...

截至2025年11月21日 10:49，上证科创板芯片指数下跌3.65%。成分股方面，佰维存储领跌，源杰科 技、有研硅、思瑞浦、燕东微等跟跌。 科创芯片ETF(588200)跟踪上证科创板芯片指数，是布局科创板芯片板块的便利工具。 没有股票账户的场外投资者可以通过科创芯片ETF联接基金（017470）关注国产芯片投资机遇。 招商证券表示，本轮存储行业周期主要系AI时代下存储需求爆发推动，同时供给侧产能开出有限， 25Q3以来价格涨幅持续扩大，展望26H1甚至2026年存储行业供需缺口或将进一步扩大，价格涨势有望 延续。受益于供需格局改善带来的涨价趋势，国内模组和芯片厂商25Q4业绩预计边际持续改善。关注 存储芯片厂商以及存储模组和主控厂商。 上证科创板芯片指数聚焦科创板芯片板块。数据显示，截至2025年10月31日，上证科创板芯片指数前十 大权重股分别为海光信息、寒武纪、澜起科技、中芯国际、中微公司、芯原股份、华虹公司、拓荆科 技、佰维存储、沪硅产业，前十大权重股合计占比60.55%。 消息面上，受益于AI服务器需求增长，各家存储原厂均明确表态涨价，整体行业加速备货。随着DDR4 资源价格水涨船高，渠道厂商跟 ...

11月21日，港股市场早盘大幅低开。 打开百度APP畅享高清图片 恒生科技指数报5451.51点，下跌123.08点，跌幅2.21%。 昨晚，纳斯达克指数在一度涨超2%的大好局面下突然变盘，最终收盘大跌超2%。美股的大跌，对今日 中国港股市场产生明显不利影响。 截至发稿，恒生指数报25460.42点，下跌375.15点，跌幅1.45%。 六福集团（HK00590）公告，预计截至9月30日止六个月收入较去年同期升约20%至30%；净利润预计 同比涨约40%至50%。主要由于定价首饰产品的销售大幅增长。 其他方面，盘面上，科网股普跌，百度跌超6%，联想、哔哩哔哩跌超4%，阿里巴巴跌超3%，腾讯、京 东跌超2%；芯片股低开，中芯国际跌超3%；汽车股继续下跌，蔚来跌超5%；创新药概念普跌，药明生 物跌超3%。 后市展望： 华夏基金认为，近期恒生科技指数从高位回落，跌幅较大。但当前港股科技板块正处在资金面、政策 面、基本面三重利好交汇的关键时点。尽管市场波动难免，但AI产业方向未变，流动性环境改善，估 值仍处低位，或许是定投布局的较好时机。华夏基金还表示，随着AI产业链持续发展，互联网龙头、 AI硬件、高端制造等新经济 ...

Core Viewpoint - The chip ETF E Fund (516350) opened down by 1.95% at 1.109 yuan, reflecting a broader decline in the semiconductor sector [1] Group 1: ETF Performance - The E Fund chip ETF's performance benchmark is the CSI Chip Industry Index return [1] - Since its establishment on December 15, 2021, the fund has achieved a return of 13.01% [1] - Over the past month, the fund has experienced a return of -3.30% [1] Group 2: Major Holdings Performance - Key holdings in the ETF include: - SMIC down 2.50% [1] - Cambricon down 2.42% [1] - Haiguang Information down 2.25% [1] - Northern Huachuang down 2.40% [1] - Lattice Semiconductor down 2.66% [1] - Zhaoyi Innovation down 5.07% [1] - Zhongwei Company down 2.90% [1] - OmniVision down 1.31% [1] - Chipone down 4.01% [1] - Changdian Technology down 1.44% [1]

股市开盘时的狂欢与收盘后的恐慌形成鲜明对比，华尔街交易员们面面相觑，都在问同一个 问题："发生了什么？" 美东时间11月20日，美国股市经历了自4月以来最剧烈的盘中反转行情，三大指数全线收跌。尽管英伟 达和沃尔玛发布了强劲财报，市场早盘一度高涨，但突如其来的抛售潮令所有涨幅化为乌有。 科技七巨头全线下跌。亚马逊跌2.49%，特斯拉跌2.21%，微软跌1.60%，谷歌跌1.15%，苹果跌0.86%， Meta跌0.19%。芯片股表现尤为疲软，费城半导体指数暴跌4.77%。 美股市场周四的暴跌并非由单一因素引起，而是多重利空共同作用的结果。 美联储降息预期降温是重要因素之一。周四盘前公布的9月非农就业报告显示，美国新增就业11.9万 人，远超市场预估的5.2万人。这份强劲的就业数据导致市场对美联储12月降息的概率预期降至不足 40%。 对AI泡沫的担忧重新主导市场情绪。西北互惠财富管理公司首席投资官Brent Schutte指出："英伟达需 要放在许多悬而未决的问题背景下看待，包括AI的可持续性、股票估值等因素。" 尽管英伟达CEO黄仁勋强调Blackwell芯片需求"爆棚"，并否认AI泡沫的存在，但担忧情绪仍占 ...

Group 1 - The core point of the news is that Chipsea Technology experienced a 5.02% decline in stock price, reaching 32.35 CNY per share, with a total market capitalization of 4.661 billion CNY [1] - Chipsea Technology's main business involves the research, design, and sales of chip products, with revenue composition as follows: MCU chips 46.45%, AIoT chips 25.92%, analog signal chain chips 25.81%, and others 1.79% [1] - The company is located in Shenzhen, Guangdong Province, and was established on September 27, 2003, with its listing date on September 28, 2020 [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Chuangjin Hexin has a significant holding in Chipsea Technology, specifically the Chuangjin Hexin Technology Growth Stock A (005495), which reduced its holdings by 30,900 shares in the third quarter [2] - The current holding of the fund in Chipsea Technology is 286,900 shares, accounting for 4.78% of the fund's net value, making it the fourth-largest heavy stock [2] - The fund has reported a floating loss of approximately 490,600 CNY as of the latest data [2] Group 3 - The fund manager of Chuangjin Hexin Technology Growth Stock A is Zhou Zhimin, who has been in the position for 7 years and 331 days [3] - The total asset size of the fund is currently 239 million CNY, with the best fund return during the manager's tenure being 94.28% and the worst being -37.88% [3]

Core Insights - Junsheng Electronics and Hezhima Intelligent have reached a strategic cooperation to focus on the joint development of robot domain controllers, optimization of intelligent computing platforms, and co-construction of industry scenario solutions [1][3] - The collaboration aims to enhance innovation capabilities and industrial competitiveness in the field of intelligent manufacturing and embodied intelligence technology [1][3] Company Overview - Junsheng Electronics is expanding its robot component business starting in 2025, leveraging its deep experience in the automotive parts sector to drive the integration of intelligent manufacturing and embodied intelligence technology [1] - The company has established a comprehensive solution for key components and is now extending its capabilities to support domestic chip platforms through its partnership with Hezhima Intelligent [1] Technology and Product Development - Hezhima Intelligent specializes in high-performance AI SOC chips and intelligent computing solutions, with its products widely used in intelligent driving, robotics, and smart manufacturing [2] - The company has launched the SesameX multi-dimensional intelligent computing platform aimed at the robotics industry, enhancing robot control and perception decision-making capabilities [2] Strategic Collaboration - The partnership between Junsheng Electronics and Hezhima Intelligent is built on a foundation of previous cooperation in the intelligent automotive sector, focusing on the development of autonomous driving domain controllers [2][3] - Both companies emphasize resource sharing, collaborative innovation, and mutual benefits in their ongoing efforts to advance the next generation of embodied intelligent robot control systems and industry solutions [3]

| | | | | 存储芯片板块个股 | | | | --- | --- | --- | --- | --- | --- | --- | | 序号 代码 | | 名称 | | 涨幅%↑ | 总市值 | 年初至今涨幅% | | 1 | 300475 | 香农芯创 | 1 | -12.00 | 597亿 | 351.60 | | 2 | 688766 | 普朗股份 | 1 | -11.97 | 183亿 | 71.31 | | 3 | 001309 | 德明利 | 1 | -9.68 | 507亿 | 259.71 | | 4 | 300672 | 国科微 | | -9.59 | 204亿 | 41.08 | | 5 | 301308 | 江波龙 | -澳 | -9.02 | 994亿 | 175.81 | | 6 | 002213 | 大为股份 | 1 | -9.01 | 79.16亿 | 146.03 | | 7 | 688525 | 佰维存储 | 1 | -8.04 | 484亿 | 67.21 | | 8 | 300455 | 航天智装 | 来 | -8.03 | 171亿 | 83.93 | | 9 | ...