高华科技所属申万行业为：电子-元件-被动元件。所属概念板块包括：商业航天（航天航空）、军工信 息化、航天军工、传感器、无人机等。 截至9月30日，高华科技股东户数7515.00，较上期增加17.13%；人均流通股13934股，较上期减少 14.62%。2025年1月-9月，高华科技实现营业收入2.73亿元，同比增长10.31%；归母净利润5198.84万 元，同比增长14.97%。 12月31日，高华科技盘中上涨2.01%，截至13:16，报49.74元/股，成交2.51亿元，换手率4.91%，总市值 92.48亿元。 资金流向方面，主力资金净流出55.59万元，特大单买入1182.09万元，占比4.70%，卖出2091.80万元， 占比8.32%；大单买入8708.07万元，占比34.63%，卖出7853.96万元，占比31.23%。 高华科技今年以来股价涨97.29%，近5个交易日涨13.95%，近20日涨39.84%，近60日涨42.52%。 今年以来高华科技已经1次登上龙虎榜，最近一次登上龙虎榜为12月25日，当日龙虎榜净买入8814.00万 元；买入总计1.77亿元 ，占总成交额比20.23%；卖出 ...

Core Viewpoint - A major passive component manufacturer will moderately adjust prices for certain products starting January 1, 2026, with increases in resistors, inductors, and other components due to rising material costs and increased demand from AI applications [1] Group 1: Price Adjustments - The manufacturer will increase prices for conventional resistors and inductors, including magnetic beads and ferrite inductors, while other products like sensitive components, protective components, and ceramic capacitors will be adjusted based on material cost increases [1] - Domestic passive component manufacturers have implemented two price hikes in the fourth quarter, expanding the range of products and customers affected by these increases [1] Group 2: Market Dynamics - The price increases are primarily aimed at cost transmission, but the significant rise in passive component usage driven by AI is expected to enhance overall industry utilization rates [1] - Currently, passive component prices are at a low level, and with demand recovering alongside rising raw material prices, manufacturers are likely to have strong motivation for further price increases, potentially initiating a new price increase cycle [1]

风华高科：公司在互动易上表示，近期对电感磁珠类，压敏电阻类等部分产品进行了价格调整。AI技 术的深度应用推高了终端产品的算力与功耗需求，MLCC，电阻器，电感器的单机用量预计将实现显著 增长。 顺络电子：公司为客户供应各类型的一体成型功率电感，组装式功率电感，超薄铜磁共烧功率电感，钽 电容产品等，客户已覆盖国内头部服务器厂商及海外头部功率半导体模块厂商。 上证报12月29日报道，据机构草根调研，某被动元器件大厂，自2026年1月1日起对部分产品价格进行适 度调整，电阻类常规电阻整体上调，电感类磁珠，铁氧体电感等品类整体上调，其他如敏感元件，保护 元件，瓷介电容等产品根据材料涨幅情况具体调整。 上证报援引研究机构观点称，国内被动元件厂商四季度对部分产品进行两次涨价，且涨价覆盖产品，客 户均进一步扩大。涨价虽主要以成本传导为目的，但AI对被动元件用量增加极大，带动行业整体稼动 率提升。目前，被动元件价格整体处于低位，在需求回暖叠加原材料价格上涨的大背景下，被动元件厂 商后续涨价动力强，有望开启新一轮涨价周期。 公司方面，据上证报表示， *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨 ...

Digital Currency - The People's Bank of China has introduced an action plan to strengthen the management and service system for digital RMB, with a new framework set to launch on January 1, 2026 [1] - As of November 2025, digital RMB has processed 3.48 billion transactions totaling 16.7 trillion yuan, with 230 million personal wallets opened through the digital RMB app [1] - The rapid development of digital RMB is expected to create opportunities for the banking IT system, payment ecosystem, and related infrastructure industries [1] Passive Components - A major passive component manufacturer plans to adjust prices for certain products starting January 1, 2026, with increases in resistors and inductors [2] - Research indicates that domestic passive component manufacturers are likely to implement two price hikes in Q4, driven by increased demand from AI applications [2] - The overall price of passive components is currently low, and with rising raw material costs, manufacturers are expected to initiate a new round of price increases [2] Robotics - The opening of offline stores for humanoid robots is expected to validate real application scenarios and accelerate product iteration and standardization [2] - TrendForce predicts that 2026 will be a pivotal year for humanoid robots, with global shipments expected to increase over sevenfold, surpassing 50,000 units [2] Nuclear Fusion - The 2026 Nuclear Fusion Energy Technology and Industry Conference will be held in Hefei, Anhui, focusing on promoting collaboration and innovation in the nuclear fusion industry [4] - The industry is entering an upward capital expenditure cycle, with Hefei establishing a leading cluster of fusion devices and a complete industrial chain [3] - The importance of controlled nuclear fusion as a "ultimate energy" source is increasing, with a focus on engineering feasibility verification and equipment procurement [3] Logistics - A joint plan has been issued by several government agencies to develop 101 national standards for modern logistics from 2025 to 2027, aimed at enhancing logistics infrastructure [5] - The modern logistics industry has achieved significant growth, with a projected social logistics total of 380 trillion yuan and logistics revenue exceeding 14 trillion yuan by 2025 [5] - The industry is transitioning from scale expansion to quality improvement, leveraging AI, IoT, and big data for enhanced efficiency [5] Reusable Rockets - The private rocket company "New Space Aerospace" has initiated key technology tests for the recovery and reuse of the Chitu-1 rocket, marking progress in low-cost, reliable space technology [6] - Successful recovery technology could reduce launch costs from tens of millions to millions of dollars, with multiple companies aiming for reusable rocket launches by 2026 [6] Hydrogen Energy - A significant breakthrough has been achieved in a 30MW pure hydrogen gas turbine energy storage demonstration project, marking a step towards practical hydrogen energy applications [7] - The project aims to provide a viable solution for large-scale renewable energy storage, addressing issues of volatility and energy wastage [7] Macro and Industry News - Starting January 1, 2024, digital RMB wallet balances will earn interest, making China the first economy to offer interest on central bank digital currency [8] - The market regulatory authority has outlined key tasks for the upcoming year, focusing on antitrust enforcement and addressing "involution" competition [8] - Public fund assets have surpassed 37 trillion yuan, reaching a new high [8]

今年以来高华科技已经1次登上龙虎榜，最近一次登上龙虎榜为12月25日，当日龙虎榜净买入8814.00万 元；买入总计1.77亿元 ，占总成交额比20.23%；卖出总计8874.71万元 ，占总成交额比10.15%。 资料显示，南京高华科技股份有限公司位于江苏省南京经济技术开发区栖霞大道66号，成立日期2000年 2月29日，上市日期2023年4月18日，公司主营业务涉及高可靠性传感器及传感器网络系统的研发、设 计、生产及销售。主营业务收入构成为：高可靠性传感器85.06%，传感器网络系统14.43%，传感器芯 片0.28%，其他(补充)0.24%。 资金流向方面，主力资金净流入3276.66万元，特大单买入2845.45万元，占比10.14%，卖出2208.66万 元，占比7.87%；大单买入9681.96万元，占比34.51%，卖出7042.08万元，占比25.10%。 高华科技今年以来股价涨105.78%，近5个交易日涨17.14%，近20日涨37.83%，近60日涨58.07%。 12月29日，高华科技盘中上涨2.03%，截至10:17，报51.88元/股，成交2.81亿元，换手率5.25%，总市值 9 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 继陆资被动元件龙头风华高科之后，二线陆资芯片电阻厂安徽富捷电子跟进发出涨价通知，将调涨 厚膜电阻价格8～20％，台湾被动元件厂预期，有陆资龙头领涨、二线厂跟涨，有望迎来芯片电阻 涨价潮。 台湾被动元件厂认为，富捷减产其实就是涨价前奏，目前芯片电阻价格已止血，随陆资龙头风华高 科领涨，二线厂富捷跟涨，其余陆资厂在材料高涨的成本压力之下，可望迎来全面涨价潮，有助于 恢复产业秩序。 *免责声明：文章内容系作者个人观点，半导体芯闻转载仅为了传达一种不同的观点，不代表半导体芯闻对该 观点赞同或支持，如果有任何异议，欢迎联系我们。 安徽富捷电子12月初才祭出减产通知，将自砍产能20～60％，并示警交期延长，事隔不到一个 月，富捷电子跟进龙头厂风华高科，正式发出厚膜电阻涨价通知，富捷在涨价通知中表示，因全球 金属价格波动，银、钯、钌、镍、锡等关键金属原材料价格大幅上涨，其中银价对比去年同期上涨 逾100％，导致厚膜电阻成本续攀，经董事会慎重研究，将对厚膜电阻各系列部分产品调涨，调涨 幅度为8～20％。 喜欢我们的内容就点 "在看 " 分享给小伙伴哦~ 随着芯片电阻价格看涨，被动元件 ...

12月18日，风华高科盘中下跌2.07%，截至13:36，报15.61元/股，成交2.29亿元，换手率1.25%，总市值 180.61亿元。 资金流向方面，主力资金净流出4922.55万元，特大单买入509.11万元，占比2.23%，卖出1520.72万元， 占比6.65%；大单买入3941.87万元，占比17.25%，卖出7852.81万元，占比34.36%。 风华高科今年以来股价涨9.92%，近5个交易日跌5.05%，近20日跌7.96%，近60日跌1.14%。 今年以来风华高科已经1次登上龙虎榜，最近一次登上龙虎榜为10月24日，当日龙虎榜净买入1.83亿 元；买入总计4.51亿元 ，占总成交额比22.61%；卖出总计2.68亿元 ，占总成交额比13.44%。 风华高科所属申万行业为：电子-元件-被动元件。所属概念板块包括：电感、快充概念、工业互联网、 光伏玻璃、MLCC概念等。 截至11月28日，风华高科股东户数9.83万，较上期减少9.10%；人均流通股11771股，较上期增加 10.01%。2025年1月-9月，风华高科实现营业收入41.08亿元，同比增长15.00%；归母净利润2.28亿元， 同 ...

Investment Rating - The report indicates a focus on the commercial aerospace and computing power industry chain, suggesting a positive outlook for these sectors [3]. Core Insights - The market showed significant differentiation, with technology growth leading while cyclical consumption faced pressure. The computing power hardware sector, particularly influenced by the news of NVIDIA being allowed to sell H200 chips to China, demonstrated resilience [3]. - The North Exchange market, primarily composed of specialized and innovative enterprises, has not directly benefited from the influx of funds into the computing power sector but still exhibited some anti-dip characteristics among tech-heavy stocks [3]. - The current valuation of the North Exchange 50 Index is at a low percentile compared to the past year, indicating a release of valuation pressure [3]. - Policy expectations are rising towards the end of the year, with a focus on stable progress and proactive fiscal measures, which may enhance market liquidity in the medium to long term [3]. Market Review - On December 9, the North Exchange A-share trading volume reached 139.2 billion, a decrease of 11.8 billion from the previous trading day. The North Exchange 50 Index closed at 1401.73, down 1.72%, with a PE_TTM of 66.35 times. The specialized and innovative index closed at 2343.91, down 1.48% [8][3]. - Among 286 companies on the North Exchange, 28 saw an increase, 1 remained flat, and 257 experienced a decline. The top five gainers included Dapeng Industrial (10.1%), Caneng Electric (5.5%), and Fangsheng Co. (5.2%), while the top five losers included Kangle Weishi (-7.5%) and Airong Software (-5.5%) [18][19]. Important News - The U.S. government has allowed NVIDIA to sell its H200 AI chips to China, imposing a 25% fee per chip, marking a significant policy shift [21]. - Demand for MLCCs is expected to grow at an annual rate of 30%, driven by AI applications, with major manufacturers like Murata and Samsung planning to expand production capacity [22].

每经AI快讯，有投资者在投资者互动平台提问：MLCC行业的龙头企业如风华高科等，相继发布了产品 涨价函。1其核心原因在于上游原材料成本的显著攀升，特别是金属银的价格自今年以来累计涨幅已达 50%，同时锡、铜、铋、钴等其他金属材料价格也全面上涨，给企业带来了巨大的成本压力，请问达利 凯普相关产品有涨价计划吗？ 近期是否已经调价？ 达利凯普（301566.SZ）12月5日在投资者互动平台表示，截至目前，公司产品暂无调价计划。 （文章来源：每日经济新闻） ...

Investment Rating - The report maintains a "Buy-A" investment rating for the company, with a target price of 56.87 CNY per share, reflecting a 39 times PE valuation for 2025 [4][5]. Core Insights - The company is advancing its H-share listing process, which is expected to enhance its global strategic layout and financing channels, thereby strengthening its core competitiveness [1]. - The company has shown robust revenue growth in the first three quarters of 2025, with a 20.96% year-on-year increase in operating income, reaching 6.508 billion CNY [2]. - The MLCC (Multi-Layer Ceramic Capacitor) business is steadily growing, supported by increasing demand from AI servers and data centers, while the SOFC (Solid Oxide Fuel Cell) business is anticipated to provide a new growth point [3]. Revenue and Profitability - For the first three quarters of 2025, the company achieved a net profit of 1.959 billion CNY, marking a 22.16% year-on-year increase, with stable expense ratios across various categories [2][3]. - The projected revenues for 2025, 2026, and 2027 are 9.170 billion CNY, 11.177 billion CNY, and 13.597 billion CNY, respectively, with net profits expected to be 2.795 billion CNY, 3.448 billion CNY, and 4.254 billion CNY [4][9]. Business Segments - The MLCC product line has expanded to include various series, and the demand is expected to continue rising due to the growing computational needs in the AI and data center sectors [3]. - The SOFC project, a collaboration with Shenzhen Gas Group, is the first commercial demonstration project of its kind in China, which is expected to contribute significantly to future growth [3]. Financial Metrics - The company’s financial forecasts indicate a consistent increase in net profit margins, projected to reach 30.5% in 2025 and 31.3% in 2027 [9][10]. - The company’s market capitalization is approximately 81.3 billion CNY, with a circulating market value of about 79.3 billion CNY [5].