格隆汇8月6日丨希荻微(688173.SH)在投资者互动平台表示，公司高度关注Al端侧应用发展趋势，并积 极与合作伙伴探索芯片产品的商业机会。公司高性能芯片产品已通过ODM厂商实现向雷鸟等国内科技 公司销售，应用于AI眼镜等终端，但销售数量和金额占比较小，请理性判断并注意投资风险。 ...

Market Overview - Market indexes started positively but faced declines due to President Trump's announcement of new tariffs on semiconductor imports, leading to a drop in major indexes except for the small-cap Russell 2000, which closed up +0.59% [1] Economic Indicators - The S&P final Services PMI for July increased to 55.7 from 52.9, while ISM Services fell to 50.1, below expectations and down from 50.8 the previous month, indicating potential weakness in the services sector [2][3] Company Earnings Reports - **Advanced Micro Devices (AMD)**: Reported earnings of 48 cents per share on revenues of $7.7 billion, exceeding estimates and showing +32% year-over-year growth. Revenue guidance was raised to $8.7 billion for the next quarter [4][5] - **Snap (SNAP)**: Reported a loss of -$0.16 per share against expectations of +$0.01, with revenues of $1.34 billion meeting estimates. Shares fell -15% following the announcement [6] - **Amgen (AMGN)**: Achieved earnings of $6.02 per share on revenues of $9.18 billion, surpassing projections. Full-year guidance remained stable for earnings and slightly higher for sales [7] - **Skyworks Solutions (SWKS)**: Reported earnings of $1.33 per share on revenues of $965 million, exceeding estimates. The company raised its dividend yield by +1% and expects revenues of $1 billion to $1.3 billion for the current quarter [8] - **SuperMicro (SMCI)**: Missed earnings estimates by 3 cents, reporting 41 cents per share and revenues of $5.76 billion, which was -3% below expectations. Guidance for the next quarter was also lowered, leading to a -14% drop in shares after hours [9]

证券代码：300567 证券简称：精测电子 公告编号：2025-101 武汉精测电子集团股份有限公司 关于公司部分募投项目结项的公告 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。 武汉精测电子集团股份有限公司（以下简称"公司"）向特定对象发行 A 股 股票募集资金投资项目（以下简称"募投项目"）"上海精测半导体技术有限公 司研发中心建设项目"募集资金已经全部使用完毕，募集资金专户内已无余额， 不存在结余募集资金，公司决定对该募投项目进行结项，并注销募集资金专项账 户。根据《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规 范运作》（以下简称"《创业板上市公司规范运作》"）的相关规定，单个募投 项目完成后，将节余募集资金（包括利息收入）用作其他用途，金额低于 500 万 元且低于该项目募集资金净额 5%的，可以豁免履行相关审议程序。现将具体情 况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会出具《关于同意武汉精测电子集团股份有限公司 向特定对象发行股票注册的批复》（证监许可[2021]679 号），同意公司向特定 对象发行股票募集资金 ...

Core Insights - Huawei announced the full open-source of its Ascend hardware enabling CANN and Mind series application toolkits, aiming to accelerate innovation among developers and enhance usability [1] - The core of Huawei's AI strategy is centered around computing power, with a focus on monetizing Ascend hardware [1] - CANN serves as a bridge between AI training frameworks and Ascend chips, similar to NVIDIA's CUDA, which is a critical component of NVIDIA's competitive advantage [1][3] Group 1: CANN and Its Ecosystem - CANN has been upgraded to version 8.0, introducing over 200 optimized basic operators, 80 fusion operators, and 100 Ascend C APIs, significantly reducing the typical operator development cycle from 2 person-months to 1.5 person-weeks [4] - CANN is gradually becoming compatible with more AI frameworks, currently supporting PyTorch, MindSpore, TensorFlow, PaddlePaddle, ONNX, and others, facilitating easier migration of models and applications [5] - Huawei is committed to a layered deep openness for CANN, providing more SDKs for application development to enhance deployment convenience and efficiency in model training and inference [5] Group 2: Competitive Landscape - Despite the advancements, CANN's usability and ecosystem richness still lag behind NVIDIA's 18-year-developed CUDA ecosystem, indicating a long road ahead for Huawei [7] - Huawei has adopted strategies similar to NVIDIA's initial promotion of CUDA by sending engineering teams to assist major clients in adapting to the CANN environment [7] - The open-sourcing of CANN is a strategic move by Huawei to rapidly expand its ecosystem, with industry leaders and institutions collaborating to build an open-source Ascend ecosystem [7] Group 3: Market Position - Huawei's self-developed AI framework MindSpore has achieved a 30.26% market share in China's AI framework sector, ranking first in 2024, reflecting the company's commitment to open-source initiatives [8] - The company has previously open-sourced other foundational software, countering claims of a closed and monopolistic approach to technology development [8]

Financial Data and Key Metrics Changes - The company reported record revenues of $123.3 million for Q2, reflecting over 20% growth year over year [5][11] - Gross margin was maintained at around 51.9%, similar to the previous quarter, contributing to an operating income of over $37 million [12] - Net income for Q2 was $38.8 million, or $0.79 per diluted share, compared to $32.6 million, or $0.66 per share in the same quarter last year [13] - Cash and cash equivalents increased to $544 million from $523 million at the end of the previous quarter [14] Business Line Data and Key Metrics Changes - High-performance computing (HPC) applications contributed approximately 45-50% of total revenue, while advanced packaging applications accounted for about 20% [6][11] - The advanced packaging segment is rapidly evolving, driven by technological changes to support AI applications [8] Market Data and Key Metrics Changes - Geographic revenue split for the quarter was 90% from Asia and 10% from the rest of the world [11] - The company expects Q3 revenue to be approximately $125 million, indicating a strong sales pipeline and healthy order flow into Q4 [8][15] Company Strategy and Development Direction - The company has made significant strategic investments in developing innovative solutions to address emerging opportunities in advanced packaging and HPC [9][10] - The launch of the AUK and Eagle 5 systems is expected to generate approximately 30% of total revenue this year, with larger contributions projected for the next year [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum heading into the third quarter, supported by a healthy order flow and pipeline [7][8] - The advanced packaging market supporting AI applications is expected to grow rapidly over the next few years, driven by new packaging technologies [8][9] Other Important Information - Operating expenses increased to $26.6 million due to exceptionally high shipping expenses related to geopolitical conflicts [12][13] - The company has successfully adopted its micro proof metrology system by a tier-one customer, with over 30 systems installed in production environments [10] Q&A Session Summary Question: What is the expectation for HPC contribution in the second half of the year? - Management expects HPC contribution to remain similar to the first half, around 45-50% [17][18] Question: What is the current expectation for China’s contribution to total revenue? - The contribution from China is expected to be slightly higher than the previous year's 30% [19] Question: How does Camtek view competition from KLA in the hybrid bonding market? - Management believes they are well-positioned to compete effectively against KLA, citing strong customer relationships and competitive technology [24][25] Question: What traction is being seen for the Eagle 5 and Hawk products? - The Hawk is noted for high throughput and addressing difficult applications, while the Eagle 5 is faster and offers better defect detection capabilities [28][30] Question: What are the growth prospects for 2026? - Management anticipates rapid growth in the HPC market, driven by technological changes and new applications [33][34] Question: What is the expected ratio of Hawk versus Eagle shipments for HBM4? - The ratio is customer-dependent, with both products being successful in the market [84] Question: Are OSATs showing signs of strengthening? - OSATs are increasingly involved in high-performance computing applications, with significant orders being seen [58][89]

Financial Performance & Outlook - Q2 2025 revenue reached $193 million, a 9% increase compared to Q1 2025[11] - Home & Life revenue in Q2 2025 was $83 million[11, 14], representing a 45% year-over-year growth[15] - Industrial & Commercial revenue in Q2 2025 was $110 million[11, 18], a 25% year-over-year growth[18] - GAAP gross margin improved to 56.1% in Q2 2025, up from 55.0% in Q1 2025[22, 23] - Non-GAAP gross margin improved to 56.3% in Q2 2025, up from 55.4% in Q1 2025[22, 23] - GAAP loss per share was $(0.67) in Q2 2025, compared to $(0.94) in Q1 2025[26, 28] - Non-GAAP earnings per share improved to $0.11 in Q2 2025 from $(0.08) in Q1 2025, a 238% increase[27, 28] - Q3 2025 revenue is projected to be between $200 million and $210 million[6, 32] - The company forecasts a 15-25% revenue growth, which is 3x the semiconductor market growth rate[44] Market & Strategy - The company aims to be the undisputed leader in embedded wireless[8] - The company estimates the IoT market will reach >10 Billion devices per year by 2035[9]

AMD’s outperformance of its much larger rival Nvidia suggests high expectations from semiconductor investors at a time when they’ve been hard to impress https://t.co/wAm6RH7Fv4 ...

Meta Platforms could be a $4.7 trillion company in five years, in which case it would be worth more than Palantir and Nvidia combined today. Here's the bottom line: Meta Platforms is the second largest ad tech company, behind only Alphabet's Google, and it is successfully using AI to strengthen its value proposition for consumers and brands. Ad tech spending is forecast to increase at 14% annually through 2030, according to Grand View Research. That gives Meta a good shot at similar earnings growth within i ...

算力之后，HBM是下个需要被攻克的AI难题吗？如今HBM成了AI行业的稀缺宝贝，各大厂商为节省算 力成本，不得不在用户体验上做减法，导致用户流失。 ...

Group 1: Core Themes - The report identifies "Tariff War 2.0" as the largest external risk for China in 2025, with cumulative tariff increases peaking at 145% across various sectors including steel, aluminum, and automobiles [1][14][15] - A policy shift since September 2024 is highlighted, focusing on a "three-arrow" approach that emphasizes structural rebalancing, fiscal stimulus, and monetary easing, although the effectiveness of these measures remains limited [1][13][14] - The report discusses the need for innovation and transformation within the Chinese economy, emphasizing the importance of boosting domestic demand, particularly in the service sector [1][13][14] Group 2: Macroeconomic Conditions - GDP growth in the first two quarters of 2025 exceeded targets, but real estate investment remains a significant drag on overall economic performance [2] - Retail sales and consumption are showing signs of divergence, while exports have demonstrated unexpected resilience [2] - Inflationary pressures are present, with deflation risks also being noted, alongside various fiscal and monetary policy measures being implemented [2] Group 3: Long-term Trends - The report outlines a transition from high-speed growth to high-quality growth, indicating a shift in economic focus [2] - It addresses the implications of US-China relations and the potential relocation of global supply chains, as well as the risks associated with China's "Japanification" [2] - An overview of the financial market and the internationalization of the Renminbi (RMB) is provided, reflecting on the broader economic landscape [2]