Core Viewpoint - TianShu ZhiXin, the first general-purpose GPU manufacturer in China, has officially launched its IPO process, aiming to raise approximately HKD 3.68 billion through the issuance of 25.43 million shares at a price of HKD 144.6 per share [2] Group 1: IPO Details - The IPO subscription period is from December 30 to January 5, with 10% of the shares allocated for public offering in Hong Kong and the remainder for international placement [2] - The company has formed a cornerstone investor team consisting of 18 top investment firms, with a total subscription amount of HKD 1.583 billion [2] Group 2: Product Development - TianShu ZhiXin has successfully launched two product series, "TianGai" and "ZhiKai," establishing a complete general-purpose computing power system that meets diverse computing needs from AI model training to edge inference [3] - The "TianGai Gen1," released in 2021, is China's first mass-produced general-purpose GPU product, utilizing a 7nm process, and has achieved mass production and commercialization [3] - The "TianGai Gen2" has successfully entered mass production in Q4 2023, while the "TianGai Gen3" is expected to be released in Q3 2024 and enter mass production in Q1 2026 [3] Group 3: Market Performance - The number of customers has increased from 22 in 2022 to 181 in 2024, indicating a significant growth trajectory [5] - The company has served over 290 clients across various sectors, including cloud computing, AI model development, and healthcare, with more than 900 actual deployments in key industries [5] - GPU shipments have doubled from 7,800 units in 2022 to 16,800 units in 2024, reflecting strong market recognition of product performance and stability [6] Group 4: Financial Overview - Revenue has shown a significant upward trend, with figures of CNY 189 million, CNY 289 million, and CNY 540 million for 2022, 2023, and 2024 respectively, representing a compound annual growth rate of 68.8% [6] - Despite revenue growth, the company remains in a loss position, with net losses increasing from CNY 553.6 million in 2022 to CNY 817 million in 2023, and projected to reach CNY 892 million in 2024 [7] - The primary reasons for the losses include increased R&D costs, administrative expenses, and sales expenses, with expectations of further increases in net losses due to rising salary expenditures and ongoing product development investments [7] Group 5: Strategic Focus - The company plans to use the funds raised from the IPO to focus on R&D, sales, and marketing, aiming to accelerate technology iteration and commercialization processes [7]

Market Sentiment - The CNN Money Fear and Greed index showed a decline in overall market sentiment, remaining in the "Neutral" zone with a reading of 49.3, down from 52.5 [5] - U.S. stocks settled lower on Monday, with the Nasdaq Composite falling more than 100 points during the session [1] Stock Performance - Nvidia Corp. shares fell more than 1% on Monday after gaining last week [1] - The S&P 500 recorded a 1.4% increase last week, marking its fourth weekly surge in five weeks, while the Dow and Nasdaq also added over 1% [1] - The Dow Jones closed lower by around 249 points to 48,461.93, the S&P 500 slipped 0.35% to 6,905.74, and the Nasdaq Composite declined 0.50% to 23,474.35 during Friday's session [4] Company-Specific News - Mereo BioPharma Group plc shares dropped 88% on Monday after its Phase 3 studies for setrusumab in Osteogenesis Imperfecta did not achieve statistical significance against primary endpoints [2] Economic Data - U.S. pending home sales increased by 3.3% month-over-month in November, following a revised 2.4% gain in October, exceeding market estimates of a 1% gain [3] - Most sectors on the S&P 500 closed negatively, with consumer discretionary, materials, and financials stocks recording the largest losses, while energy and real estate stocks closed higher [3]

Market Sentiment - The CNN Money Fear and Greed index showed a decline in overall market sentiment, remaining in the "Neutral" zone with a reading of 49.3, down from 52.5 [5] - U.S. stocks settled lower on Monday, with the Nasdaq Composite falling more than 100 points during the session [1] Stock Performance - Nvidia Corp. shares fell more than 1% on Monday after gaining last week [1] - The S&P 500 recorded a 1.4% increase last week, marking its fourth weekly surge in five weeks, while the Dow and Nasdaq also added over 1% [1] - The Dow Jones closed lower by around 249 points to 48,461.93, the S&P 500 slipped 0.35% to 6,905.74, and the Nasdaq Composite declined 0.50% to 23,474.35 during Friday's session [4] Company-Specific News - Mereo BioPharma Group plc shares dropped 88% on Monday after its Phase 3 ORBIT and COSMIC Studies for setrusumab in Osteogenesis Imperfecta did not achieve statistical significance against primary endpoints [2] Economic Data - U.S. pending home sales increased by 3.3% month-over-month in November, following a revised 2.4% gain in October, exceeding market estimates of a 1% gain [3] - Most sectors on the S&P 500 closed negatively, with consumer discretionary, materials, and financials recording the biggest losses, while energy and real estate stocks closed higher [3]

新华财经上海12月30日电（记者杜康、潘清）12月30日，上海天数智芯半导体股份有限公司（以下简 称"天数智芯"）正式启动招股，至1月5日结束，并计划于1月8日正式以"9903"为股票代码在港交所挂牌 上市。 招股书数据显示，2022年至2024年，公司服务客户数从22家升至181家。截至2025年6月30日，产品已在 超过290家客户中完成超900次实际部署，并已覆盖金融服务、医疗保健及运输等众多领域。出货量方 面，公司2022年至2024年出货量从0.78万片增至1.68万片；2025年仅上半年出货量就已达到1.57万片， 三年内实现翻倍增长。 业绩方面，天数智芯2022年至2024年营收分别达1.89亿元、2.89亿元、5.40亿元，复合年增长率高达 68.8%。2025年上半年营收3.24亿元，同比增长64.2%。 天数智芯此次IPO计划全球发售约2543.18万股H股。其中，香港公开发售254.32万股，国际发售2288.86 万股。发行价定为每股144.60港元，预计募资总额约为37亿港元。以发行价计算，天数智芯的IPO市值 将达到354.42亿港元。 （文章来源：新华财经） 根据公开发售文件，在 ...

Core Viewpoint - Aehr Test Systems is positioned for significant growth due to its focus on testing solutions for semiconductor devices, particularly in the electric vehicle (EV) and artificial intelligence (AI) sectors [2][3][7]. Group 1: Company Overview - Aehr Test Systems specializes in test solutions for semiconductor devices, including wafer-level burn-in (WLBI) for silicon carbide (SiC) chip manufacturers [3]. - The company has a concentrated customer base, with five large customers accounting for 97%, 93%, and 77% of total sales in fiscal years 2023, 2024, and 2025, respectively [4]. Group 2: Market Dynamics - The semiconductor industry is cyclical, with profits fluctuating significantly between up and down years, making it crucial to monitor market cycles [2]. - The SiC chip market, primarily driven by EVs, has seen a slowdown in growth as automakers have reduced their EV development plans [5]. Group 3: Growth Opportunities - Aehr is expanding its WLBI test solutions to include AI processors, which will diversify its revenue and tap into the growing AI/data center market [7][8]. - The company has secured orders from a leading hyperscaler for AI processor testing, indicating strong future demand [8]. Group 4: Financial Outlook - Analysts project revenue growth of 35% and 26% for Aehr in fiscal years 2027 and 2028, respectively, driven by recovery in the EV market and sustained growth in AI spending [15]. - Teradyne and Advantest, early-stage semiconductor testing companies, have reported strong earnings, suggesting positive trends for later-stage companies like Aehr [11][14].

午后A股拉升，沪指翻红。 人民币走强，离岸人民币兑美元升破6.99。 人形机器人概念拉升 人形机器人概念股午后再度活跃，步科股份20%涨停，万向钱潮（000559）直线拉升涨停。 | 名称 | 序号 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | 上证指数 | 1 | 3969.31 | 4.03 | 0.10% | | 深证成指 | 2 | 13621.35 | 84.25 | 0.62% | | 万得全A | 3 | 6430.46 | 17.45 | 0.27% | | 科创综指 | 4 | 1646.94 | 8.86 | 0.54% | | 创业板指 | 5 | 3247.47 | 24.86 | 0.77% | 港股亦走强，香港恒生指数上涨1%，恒生科技指数涨幅扩大至2%。中芯国际涨逾4%，百度集团涨超8%。 消息面上，宇树官方微信公众号发布消息称，其全国首店将于12月31日在北京京东MALL开业。 国际黄金和白银拉升反弹，截至发稿，现货黄金涨逾1%，现货白银大涨超4%。 国内金属期货亦回暖，沪镍期货主力合约涨超5%，铂、钯主力合约一度打开跌 ...

责任编辑：栎树 | | | | | 半导体板块个股 | | | | --- | --- | --- | --- | --- | --- | --- | | 序号 代码 | | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅%。 | | 1 | 688809 | N强- | 1 | 176.30 | 305亿 | 176.30 | | 2 | 688593 | 新相微 | | 12.32 | 98.48 Z | 17.10 | | 3 | 600877 | 电科芯片 | 1 | 10.01 | 215亿 | 37.45 | | 4 | 300782 | 卓胜微 | 1 | 9.75 | 448亿 | -6.61 | | 5 | 688110 | 东芯股份 | 1 | 8.51 | 591亿 | 436.95 | | 6 | 300456 | 寒微电子 | 海 | 5.35 | 434 乙 | 244.99 | | 7 | 688691 | 灿応股份 | 1 | 5.21 | 131亿 | 42.38 | | 8 | 688256 | 寒武纪-U | 1 | 5.17 | 6025 Z | 117.13 ...

智通财经APP获悉，12月30日，上海天数智芯半导体股份有限公司（以下简称"天数智芯"）正式启动招股，至1月5日结束，并计划于1月8日正式以"9903"为 股票代码在港交所挂牌上市。 天数智芯此次计划发行25,431,800股H股。其中，香港公开发售2,543,200股，国际发售22,888,600股。以每股144.60港元的发行价计算，天数智芯此次募资额 约为37亿港元，IPO市值将达354.42亿港元。 根据全球公开发售文件，在此次发行中，公司引入了18家顶级投资方组成的基石团队，共计拟认购1,583,195,754港元，包括有中兴通讯（香港）、UBS AM Singapore、华胜天成（香港）、第四范式、安擎国际、汇添富（香港）、华夏基金（香港）、芯鑫控股、明山资本等。 事实上，天数智芯在IPO前已构建起高度多元且深度协同的股东矩阵。公司此前已获得大钲资本、Princeville Capital、星纳赫资本、红杉中国、元禾基金等 众多知名机构的支持，可见资本对公司的深度认可。 各路资本的押注，本质上是对"国产通用GPU能否真正落地"这一命题的肯定回答。而支撑其高估值的核心逻辑，在于技术突破已系统性转化为 ...

格隆汇12月30日｜A股市场芯片概念股走强，其中，新相微涨超12%，电科芯片10CM涨停，卓胜微涨 近10%，东芯股份涨超8%，赛微电子、灿芯股份、寒武纪-U涨超5%。消息面上，中芯国际宣布，拟以 406亿元发行股份收购国家集成电路基金等五方持有的中芯北方49%股权，交易完成后将全资控股这家 12英寸晶圆代工核心企业。 ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 作者：情报员 国家知识产权局信息显示，英特尔公司申请一项名为"包括低热导率气体的气凝胶以及相关装置和方 法"的专利，公开号CN121227034A，申请日期为2025年6月。 本文源自：市场资讯 专利摘要显示，公开了包括低热导率气体的气凝胶、以及相关装置和方法。本文中公开的示例气凝胶包 括：框架，该框架包括多个孔；和气体，该气体处于多个孔中的至少一个孔中，该气体的热导率低于空 气的热导率。 ...