智通财经APP讯，恒烁股份(688416.SH)披露2025年度业绩快报，2025年度实现营业总收入4.75亿元，同 比增长27.49%;归属于母公司所有者的净利润亏损9874.37万元，同比收窄。 报告期内，公司维持原有市场销售政策，以出货量和市场份额为关键，加大销售力度，相较于去年同期 产品出货量增加，同时受益于行业整体的向好发展，公司营业收入及综合毛利率同比有一定增长，但相 较于现有营收规模综合毛利率仍处于较低水平。 ...

南财智讯2月27日电，东微半导发布2025年度业绩快报，报告期内公司实现营业收入12.53亿元，同比增 长24.87%；归属于上市公司股东的净利润0.44亿元，同比增长9.50%；基本每股收益0.36元，同比增长 9.09%。 ...

随着人工智能（AI）、高性能计算（HPC）、汽车电子（智能驾驶、车联网）、机器人及可穿戴设备等 新兴领域技术的快速发展和需求的激增，芯片制造厂加速推进先进制程的技术迭代，同时不断扩大产能 规模。公司积极把握半导体芯片技术迭代升级与国产替代的发展机遇，构建了较为完善的薄膜沉积设 备、三维集成领域设备的产品矩阵。依托在 PECVD、ALD、SACVD、HDPCVD、Flowable CVD等薄 膜沉积设备及先进键合设备领域的技术突破与规模化量产，公司在先进制程领域核心竞争力显著提升， 业务规模实现大幅增长。 格隆汇2月27日丨拓荆科技(688072.SH)公布2025年年度业绩快报，2025年度，公司实现营业收入约65.19 亿元，同比增长约58.87%；归属于母公司所有者的净利润约9.29 亿元，同比增长约35.05%；归属于母 公司所有者的扣除非经常性损益的净利润约7.26亿元，同比增长约103.79%。 ...

1. Report Industry Investment Rating - No relevant content found. 2. Core Viewpoints of the Report - The certainty of the US economy has declined, and the market should follow the domestic economic expectations. The US economic resilience is facing challenges due to factors such as the uncertainty of monetary policy, changes in tariff policies, and persistent dollar liquidity tightness. In contrast, the domestic economy shows signs of an unexpected recovery, and the upcoming "Two Sessions" is expected to have a positive impact on the domestic asset prices [2][6]. 3. Summary by Relevant Catalogs 3.1 US Economic Situation - **Short - term Resilience with Increased Uncertainty**: Although the seasonally adjusted US consumption growth rate has declined, leading indicators suggest that consumption growth still has support. The relatively healthy labor market also indicates short - term economic resilience. However, factors such as the uncertainty of monetary policy, changes in tariff policies, and persistent dollar liquidity tightness have increased the uncertainty of the US economy [7][10][23]. - **Monetary Policy Uncertainty**: The Fed's 1 - month interest - rate meeting did not cut interest rates as expected. The new Fed Chairman Kevin Warsh's previous "hawkish" attitude has cast a shadow on the market. Although the report adheres to the view that the US monetary policy will be loosened, the process may be more tortuous and require greater driving forces. There is a risk that the previous preventive interest - rate cuts in the US may turn into rescue - style cuts, which will reduce the certainty of the economy and asset prices [10][14][15]. - **Tariff Policy Changes**: The US Supreme Court's ruling that Trump's IEEPA tariff is unconstitutional has increased the uncertainty of US tariff policies. Trump's new tariff measures are only short - term transitions, and the mid - term may shift to a tariff framework based on 338, 301, or 232. This change has increased the medium - and long - term risks of the US economy and may also affect Sino - US relations [17][18]. - **Dollar Liquidity Tightness**: The Fed's attempt to ease the dollar liquidity tightness through balance - sheet expansion has had limited effects. The persistent liquidity tightness has increased the risk of the US economy [23]. 3.2 Domestic Economic Situation - **Signs of Unexpected Recovery**: In February, which is a window period for Chinese economic data, the 2026 Spring Festival consumption was unexpectedly hot. High - frequency data shows that the subway passenger volume and domestic flight volume were significantly better than in previous years. However, the per - capita daily travel expenditure has not returned to the pre - 2020 level, indicating that economic recovery and consumption expansion require policy support [27][29]. 3.3 2026 National "Two Sessions" Preview - **Key Focus Areas**: The "Two Sessions" is expected to focus on four key areas: the formulation and implementation of the "15th Five - Year Plan", the setting of economic goals and policy guarantees, policies related to the cultivation and development of new - quality productivity, and industrial policies and "anti - involution" [35]. - **Impact on the Market**: As long as the current policy direction and economic trend continue, the "Two Sessions" will support domestic asset prices. The market has low expectations for the "Two Sessions", and as long as there are no major changes, the market will still have a structural upward trend [40]. 3.4 Outlook for Chinese Asset Trends - **Stock Market**: Before the "Two Sessions" in early March, the market will enter a stable period, and the "Two Sessions" will maintain policy stability. As long as there are no major changes, the market will have a structural upward trend [41]. - **Treasury Bonds**: The "re - allocation" of maturing deposits is beneficial to the short - term bond market. In the medium term, either domestic prices will rise or the economy will stabilize, so treasury bonds may fluctuate in the long run [41]. - **Commodities**: In the short term, it is the off - season for demand, and seasonality is the dominant factor. Trading opportunities need to be found based on the certainty of domestic economic expectations, but this passive choice needs to be treated with caution. In the medium term, the macro and fundamental changes have been reflected in commodity prices to a certain extent, and the strong may remain strong. In the long term, the differentiation of commodity prices will improve, and the prices of low - valued commodities may return [41]. - **Renminbi Exchange Rate**: The Renminbi will continue to appreciate, but the appreciation trend will be more volatile due to the slowdown of the decline in the US dollar index and the expected impact on imports and exports. In the short term, it has support around 6.8 [41].

格隆汇2月27日丨华海诚科(688535.SH)公布2025年年度业绩快报，报告期内，公司实现营业总收入 45,805.59万元，较上年同期增长38.12%；实现归属于母公司所有者的净利润2,425.21万元，较上年同期 下降39.47%；实现归属于母公司所有者的扣除非经常性损益的净利润1,977.61万元，较上年同期下降 42.06%。 2025年全球半导体行业在经历短期波动后重回增长通道，产业链正迎来由人工智能、电动汽车、数据中 心等新兴应用驱动的新一轮扩张周期。公司抓住市场的有利因素，采取有效的销售策略，巩固现有市场 份额，拓展新市场。 ...

证券日报网讯 2月27日，钜泉科技发布2025年度业绩快报公告称，公司2025年度实现营业总收入 53866.86万元，同比减少8.99%；实现归属于母公司所有者的净利润4286.70万元，同比减少54.20%。 （编辑 王雪儿） ...

证券日报网讯 2月27日，气派科技发布2025年度业绩快报公告称，公司2025年实现营业总收入767， 804，248.77元，同比增长15.19%。 （文章来源：证券日报） ...

该行维持对英伟达的"跑赢行业"评级，目标价上调6%至240.6美元，认为公司算力扩容趋势明确。 中金发表报告指，英伟达2026财年第四季业绩及首季指引均高于该行及市场预期，该行认为背后主要原 因是Agent带来的推理需求放量后机柜产品出货强劲所致。 由于Agent等需求持续刺激云厂商投资算力基础设施，以及在快速的硬件叠代下公司龙头地位不改，该 行上调公司2027财年收入预测1%至3459亿美元，上调Non-GAAP净利润预测3%至1966亿美元；首次引 入2028财年收入预测4381亿美元，Non-GAAP净利润预测2550亿美元。 ...

格隆汇2月27日丨中科蓝讯(688332.SH)公布2025年年度业绩快报，2025年度，公司实现营业收入18.42亿 元，较上年同期增长1.24%；归属于母公司所有者的净利润14.16亿元，较上年同期增长371.91%；归属 于母公司所有者的扣除非经常性损益的净利润2.34亿元，较上年同期下降4.19%；基本每股收益11.75 元，较上年同期增长370.00%。 ...

格隆汇2月27日丨美芯晟(688458.SH)公布2025年年度业绩快报，2025年度，公司实现营业收入55,512.91 万元，同比增长37.35%；实现归属于母公司所有者的净利润-1,437.13万元，同比减亏78.41%；归属于母 公司所有者的扣除非经常性损益的净利润-3,369.58万元，同比减亏63.80%。 ...