Core Viewpoint - Changfei Advanced's Wuhan base has achieved mass production of 6-inch silicon carbide wafers, marking a significant milestone in the semiconductor industry [1] Group 1: Company Overview - Changfei Advanced's Wuhan base project has a total investment of 20 billion and covers an area of 498 acres [1] - The first phase of the project occupies 344 acres and is expected to reach an annual production capacity of 360,000 pieces of epitaxial wafers, 360,000 pieces of 6-inch silicon carbide wafers, and 61 million silicon carbide power modules [1]

证券代码：002079 证券简称：苏州固锝 公告编号：2025-026 苏州固锝电子股份有限公司 关于对外投资暨与关联方共同投资的关联交易公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 一、对外投资暨关联交易概述 苏州固锝电子股份有限公司（以下简称"公司"或"苏州固锝"）和昆山双睿启航创业 投资合伙企业（有限合伙）（以下简称"昆山双睿"）投资共计2,000万元认购中晶微电（上 海）半导体有限公司（以下简称"中晶微电"或"标的公司"）新增注册资本61.8776万元。 其中，苏州固锝投资1,000万元认购上述新增注册资本中的30.9388万元，对应本次增资后中 晶微电2.5316%的股权。 苏州汇明创芯创业投资合伙企业（有限合伙）（以下简称"汇明创芯"或"苏州汇明"） 持有中晶微电3.15%的股权，苏州固锝为汇明创芯的有限合伙人持有其45.45%的份额，苏州 固锝与汇明创芯构成关联方，本次投资事项构成与关联方共同投资。 事会审批权限范围内，无需提交股东大会审议。本次关联交易不构成《上市公司重大资产重 组管理办法》规定的重大资产重组，无需经过有关部门批准。 二 ...

Group 1 - The semiconductor materials and equipment theme index decreased by 0.36% as of May 27, with component stocks showing mixed performance [1] - The semiconductor materials ETF (562590) fell by 0.47%, with a latest price of 1.05 yuan, but has seen a cumulative increase of 29.78% over the past year [1] - In the first four months of 2023, the total profit of industrial enterprises above designated size reached 21,170.2 billion yuan, a year-on-year increase of 1.4% [2] Group 2 - The manufacturing sector achieved a total profit of 15,549.3 billion yuan, growing by 8.6% year-on-year, with high-tech manufacturing profits accelerating to a 9.0% increase [2] - Specific industries such as semiconductor device manufacturing, electronic circuit manufacturing, and integrated circuit manufacturing saw profit growth of 105.1%, 43.1%, and 42.2% respectively [2] - The semiconductor materials ETF and its linked funds closely track the semiconductor materials and equipment index, focusing on capturing the high-tech manufacturing industry dividends [3]

2. 航空股表现亮眼。截至收盘，中国国航(00753)涨5.58%，报5.68港元；东方航空(00670)涨3.69%，报 2.81港元；南方航空(01055)涨3.54%，报3.8港元。 智通财经APP获悉，港股今日低开低走，三大指数均跌超1%。截止收盘，恒生指数跌1.35%或318.93 点，报23282.33点，全日成交额为2235.2亿港元；恒生国企指数跌1.7%，报8437.64点；恒生科技指数跌 1.7%，报5157.65点。 华泰证券表示，往前看，出口链压力减弱下中国增长预期或抬升，尤其是在此前并未跟随其他货币升值 的情况下，人民币及人民币资产均有修复空间。依然看好港股相对全球市场的收益表现。该行指出，科 技+消费是配置主线，关注人民币升值受益板块，以及大市值且互联互通交易量大的标的AH溢价收窄 趋势。 蓝筹股表现 农夫山泉(09633)领涨蓝筹。截至收盘，涨3.83%，报38港元，成交额3.32亿港元，贡献恒指4.69点。华 创证券指出，农夫作为饮料行业平台化龙头典范，卡位优质赛道且经营能力扎实，中长期稳健增长确定 性突出，而当前增长基数走低而水饮消费旺季将至，公司系列举措显效下经营即将加速修 ...

以下文章来源于傅里叶的猫 ，作者小小 半导体高质量发展创新成果征集 中芯国际的foundry主要在北京、天津、上海和深圳，这篇文章我们分别看下这些foundry的8英寸和 12英寸晶圆的产能情况。 北京 北京有3个12英寸的晶圆厂，在今年一季度，这三个Fab的产能分别为56/76/25 KWPM，根据 Trendforce的预测，今年的后面2个季度的产能，基本上跟第一第二季度保持一致，略微下降。 | City | W.Size | 1025 | 2025E | 3025F | 4025F | | --- | --- | --- | --- | --- | --- | | 北京 | 12 | 26 | 55 | 55 | 50 | | 北京 | 12 | 76 | 17 | 78 60 | ■■叶的灯 5 | | 北京 | 12 | 25 | 29 | and an | ATENING 8 | 天津 在天津有一个8英寸的晶圆厂，今年一季度的产能是148 KWPM，后面两个季度，预计产能会稍微有 些下降。 傅里叶的猫 . 芯片EDA大厂资深工程师，半导体AI行业解读及研报分享 申请入围"中国IC独角兽" | Ci ...

中芯国际的foundry主要在北京、天津、上海和深圳，这篇文章我们分别看下这些foundry的8英寸和 12英寸晶圆的产能情况。 北京 | City | W.Size | 1025 | 2025E | 3025F | 4025F | | --- | --- | --- | --- | --- | --- | | 深圳 | | 6/ | 67 | ୧୮ | 60 | | 深圳 | 12 | 33 | 39 | 38 | 38 | 简单总结成一张地图，后面还会把其他晶圆厂的情况也逐步放到这个图中。图中的数据都是今年第 一季度的产能情况。为了方便展示，地图中并没有包含我国南海的那些群岛。 北京有3个12英寸的晶圆厂，在今年一季度，这三个Fab的产能分别为56/76/25 KWPM，根据 Trendforce的预测，今年的后面2个季度的产能，基本上跟第一第二季度保持一致，略微下降。 天津 在天津有一个8英寸的晶圆厂，今年一季度的产能是148 KWPM，后面两个季度，预计产能会稍微有 些下降。 | City | W.Size | 1025 | 2025E | 3025F | 4025F | | --- | --- | ...

Group 1 - The overall quality of companies waiting for listing on the Beijing Stock Exchange (BSE) is high, with an average net profit of 89.67 million yuan for 94 companies, significantly higher than the average of 42.11 million yuan for 266 listed companies [3][15][17] - The average subscription rate for companies that raised over 200 million yuan is 0.14%, compared to 0.06% for those that raised less than 200 million yuan, indicating a correlation between fundraising size and subscription success [14][21] - The expected new stock subscription yield for 2025 is estimated to be between 4.8% and 10.80%, based on various assumptions regarding market conditions and investor participation [20][21] Group 2 - The BSE 50 index experienced a decline of 3.68% this week, closing at 1370.04 points, following a previous high of 1500 points, indicating potential volatility in the market [4][25][29] - The overall price-to-earnings (PE) ratio for BSE A-shares has decreased to 48.45X, with 53.79% of companies having a PE ratio exceeding 45X, suggesting a high valuation environment [22][26][27] - The five major industries on the BSE, including high-end equipment and information technology, have varying PE ratios, with information technology at 92.82X, indicating sector-specific valuation disparities [32][34] Group 3 - The average first-day price increase for newly listed companies from January 1, 2024, to May 23, 2025, is 303.91%, with the highest recorded increase being 731.41% for Tongguan Mining [44] - The IPO review process is active, with two companies awaiting approval and two newly accepted for review, reflecting ongoing market activity [5][42] - The report highlights the importance of focusing on companies with stable performance and reasonable valuations, particularly those classified as "little giants" in their respective sectors [39][41]

Core Viewpoint - Wolfspeed, a leading American silicon carbide wafer manufacturer, is reportedly on the verge of bankruptcy, with its stock plummeting 60% in a single night, highlighting the challenges faced by the company in a competitive market dominated by Chinese counterparts [1][4]. Company History - Founded in 1987 as Cree, Wolfspeed pioneered silicon carbide technology, launching the first commercial silicon carbide wafer in 1991 and becoming a major player in the blue LED market [3][6]. - The company rebranded to Wolfspeed in October 2021, focusing on third-generation semiconductors, and saw its stock reach a peak of $139, with a market cap of $16.5 billion (approximately 120 billion RMB) [6][10]. Market Challenges - The decline in Wolfspeed's fortunes can be attributed to aggressive expansion strategies that overlooked market dynamics, particularly the slower-than-expected electrification of the automotive market in Europe and the U.S. [9][10]. - The company's flagship Mohawk Valley plant, which cost over $5 billion, generated only $7.8 million in revenue in the latest fiscal quarter, with a projected capacity utilization of just 25% by the end of 2024 [10][11]. Financial Situation - Wolfspeed's debt has reached approximately $6.5 billion, with annual interest payments of about $800 million, while cash reserves stand at only $1.3 billion [10][11]. - The company's stock has fallen 33% year-to-date, with an 85% decline projected for 2024, leading to a current share price of just over $1 [10][11]. Competitive Landscape - Despite holding a 33.7% market share in the global silicon carbide substrate market in 2024, Wolfspeed faces increasing competition from Chinese firms like Tankeblue and SICC, which have gained significant market shares of 17.3% and 17.1%, respectively [13][14]. - Chinese manufacturers have been able to reduce costs significantly, with 6-inch substrate prices dropping to 30% of international levels, further pressuring Wolfspeed's market position [13][14]. Industry Trends - The rise of Chinese companies in the third-generation semiconductor space reflects a broader trend of China's increasing dominance in advanced manufacturing, supported by a robust domestic market and a shift from a "demographic dividend" to an "engineer dividend" [15].

证券代码：603501 证券简称：韦尔股份 公告编号：2025-050 转债代码：113616 转债简称：韦尔转债 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海韦尔半导体股份有限公司（以下简称"公司"）于2025年5月23日召开 的公司第六届董事会第四十六次会议、第六届监事会第三十五次会议审议通过 了《关于公司聘请H股发行并上市的审计机构的议案》，同意聘请香港立信德 豪会计师事务所有限公司（以下简称"香港立信"）为公司H股发行并上市的 审计机构。该议案尚需提交公司股东大会审议。现将相关事项公告如下： 一、拟聘任会计师事务所的基本情况 （一）基本信息 香港立信成立于1981年，注册地址为香港。香港立信是国际会计网络BDO 的成员所，具备审计依据国际财务报告准则编制的上市公司财务报告的资格并 符合香港联交所的相关要求。 截至2024年末，香港立信拥有超过60名董事及员工1,000人。 年报审计服务，具有上市公司所在行业审计业务经验。 （二）投资者保护能力 香港立信已符合香港会计师公会执业法团（专业弥偿）规则，投保有效且 足 ...

证券代码：603501 证券简称：韦尔股份 公告编号：2025-052 转债代码：113616 转债简称：韦尔转债 上海韦尔半导体股份有限公司 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 上海韦尔半导体股份有限公司（以下简称"公司"）第六届监事会第三十 五次会议于2025年5月23日以现场结合通讯方式召开，会议通知已于2025年5月 应到监事3人，实到监事3人。本次会议的召集和召开符合《公司法》等有关法 律、行政法规、部门规章、规范性文件和《公司章程》的有关规定，会议形成 的决议合法、有效。 二、监事会会议审议情况 （一）审议通过《关于公司发行 H 股股票并在香港联合交易所有限公司主 板上市的议案》 为加快公司的国际化战略及海外业务发展，增强公司的境外融资能力，进 一步提高公司的综合竞争力，根据公司总体发展战略及运营需要，公司拟发行 境外上市股份（H 股）并在香港联合交易所有限公司（以下简称"香港联交 所"）主板上市（以下简称"本次发行 H 股并上市"或"本次发行"）。 根据《中华人民共和国公司法》 ...