半导体与半导体生产设备

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半导体与半导体生产设备行业周报、月报:三星即将进入1c量产阶段,国产GPU公司沐曦集成准备科创板上市-20250707
Guoyuan Securities· 2025-07-07 08:14
[Table_Main] 行业研究|信息技术|半导体与半导体生产设备 证券研究报告 半导体与半导体生产设 2025 年 07 月 07 日 [Table_Title] 三星即将进入 1c 量产阶段,国产 GPU 公司沐曦集 成准备科创板上市 ——行业周报 [Table_Summary] 报告要点: 本周(2025.6.30-2025.7.6)市场回顾 1)海外 AI 芯片指数本周上涨 1.3%,本周海外芯片指数涨幅相对较 小,MPS 涨幅约 3%,台积电和博通涨幅超过 2%,英伟达上涨 1%。 Marvell 和 AMD 股价出现下滑。2)国内 AI 芯片指数本周下跌 2.8%。 本周国内 A 股芯片指数大部分成分股股价均出现下滑,寒武纪和恒玄 科技跌幅超过 6%,兆易创新接近 6%,仅有澜起科技出现小幅上涨, 涨幅 1.8%。3)英伟达映射指数本周上涨 9.3%,景旺电子涨幅超过 20%,工业富联、胜宏科技和沪电股份涨幅超过 10%,而长芯博创、 兆龙互连、麦格米特、英维克和太辰光出现小幅下滑。4)服务器 ODM 指数本周下跌 0.7%,成分股表现分化较大,鸿海精密、Wiwynn 和技 嘉下滑约 2%,Qu ...
国海证券晨会纪要-20250707
Guohai Securities· 2025-07-07 00:02
2025 年 07 月 07 日 晨会纪要 研究所: 证券分析师: 余春生 S0350513090001 yucs@ghzq.com.cn [Table_Title] 晨会纪要 ——2025 年第 113 期 观点精粹: 最新报告摘要 2025 年 6 月重卡销量同比显著增长,看好全年重卡内需景气度--行业动态研究 股市行情上涨,后续转债如何选择?--固定收益点评 全球领先玩具制造商,印尼新厂于年中投产--德林国际/文娱用品(01126/213605) 点评报告(港股美股) 医药行业深度报告:数说日本医疗的现代化历程,质量、效率和成本的特有平衡--产业 PPT 报告(无评级) 黄金价格波动的底层逻辑--宏观专题研究 谷歌与 CFS 签订 200MW 核聚变供电协议,产业长期发展趋势已立--事件点评 湖北省人形机器人产业投资母基金设立,步科发布第四代无框力矩电机及中空驱动器--行业周报 工信部召开光伏企业座谈会,海风政策催化不断落地--行业周报 红利资产从共识到分化的再审视--资产配置报告 光刻机行业深度报告(一):核心部件篇,曙光已现--行业 PPT 报告 人形机器人灵巧手深度报告:灵巧手赛道蓝海可期,各类新 ...
半导体与半导体生产设备行业周报、月报:苹果扩大印度工厂iPhone出口,首款折叠机预计明年发售-20250616
Guoyuan Securities· 2025-06-16 06:42
[Table_Main] 行业研究|信息技术|半导体与半导体生产设备 证券研究报告 半导体与半导体生产设 备行业周报、月报 明年发售 ——行业周报 [Table_Summary] 报告要点: 本周(2025.6.9-2025.6.13)市场回顾 1)海外 AI 芯片指数本周上涨 0.7%,本周海外芯片指数较为稳定,台 积电股价涨幅约 3%,MPS 下跌约 2%。2)国内 AI 芯片指数本周下 跌 1.7%。国内芯片公司股价持续调整,成分股均出现下滑。3)英伟 达映射指数本周上涨 3.0%,英伟达一季度营收高于市场预期,同时, 数据中心业务实现较大幅度增长,部分市场担忧得到缓解,带动英伟 达供应链开始回暖。4)服务器 ODM 指数本周上涨 4.5%,AI 服务器 需求持续旺盛,预计 2025 年下半年进入量产出货期。5)存储芯片指 数本周下跌 3.1%,本周国内存储芯片指数在受益存储芯片涨价后迎 来一定程度的调整,且成股份表现分化较大。6)功率半导体指数本周 下跌 3.2%;A 股果链指数上涨 0.9%,港股果链指数上涨 0.3%。 行业数据 1)4-5 月,苹果 iPhone 全球销量同比增长 15%,主要得 ...
重大资产重组!4000亿算力航母来了
2 1 Shi Ji Jing Ji Bao Dao· 2025-06-11 00:22
作 者丨雷晨 编 辑丨朱益民 江佩佩 停牌10个交易日后,海光信息(688041.SH)换股吸收合并中科曙光(603019.SH)的交易预案终于揭 晓。 6月10日,两家公司双双复牌。中科曙光一字涨停,报68.09元/股;海光信息收涨4.3%,报141.98元/ 股。 | | 68.09 +6.19 +10.00% | | | | 中科曙光 1 立即 | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 603019 父易 | | SSE CNY 15:00:01 闭市 | | | | | | 通融公口干 | | 菱比 | 100.00% 委差 | 511121 | Wind ESG评级 | A | | 详情 | | 卖五 | | | 文生 | -5.44% 120日 | | -11.18% | | 英四 | | | 5日 | 10.00% 250日 | | 66.90% | | 卖三 | | | 20日 | 5.22% 52周高 | | 89.54 | | 卖二 | | | 60日 | -3.30% 52周低 | | 33.92 | | ...
6月策略观点:题材交易可逐步提升风偏-20250603
GOLDEN SUN SECURITIES· 2025-06-03 12:21
证券研究报告 | 策略研究 gszqdatemark 2025 06 03 年 月 日 投资策略 6 月策略观点与金股推荐 6 月策略观点:题材交易可逐步提升风偏 大势研判:5 月市场表现看,交易难度较 4 月明显加大,大势层面表现在 指数连续两次冲高回落,配置层面则表现在交易主线的匮乏,题材数量不 少但持续性普遍不佳。此前我们也在分析中预测了一些市场可能进行交易 的方向,包括 5 月初相对低位的科技 TMT、5 月中旬的对美出口链修复, 但均始于"大胆假设",结束于"小心求证"。站在当前时点,面对市场整 体存在阻力位压力、配置迟迟未见主线的情况,建议继续控制仓位、保持 耐心,同时做好准备,结合历史经验建立对未来行情的预期。参考历史表 现对今年 6 月行情进行展望,基准情形下,假设仍然没有重磅的事件催化, 梳理 2025 一季报看也仅有部分细分行业具备较好的景气度,整体可类比 2024 年 6 月情形,对应均衡配置仍然是重要策略:结合 2025 一季报与 行业中观数据挖掘产业景气;基于宏观叙事保有一定的防御仓位;题材交 易即使没有特别强的催化也可适当提升风偏,历史经验看近来每年 6 月, 题材交易都是重要方向 ...
广立微:2024年年报及2025年一季报点评软件业务快速成长,一季度收入增长加速-20250429
Guoyuan Securities· 2025-04-29 05:50
Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the benchmark index [6][8]. Core Insights - The company has demonstrated robust revenue growth, with a 14.50% year-on-year increase in 2024, achieving total revenue of 546.87 million yuan. However, net profit declined by 37.68% to 80.27 million yuan [3][6]. - In the first quarter of 2025, the company reported a significant revenue increase of 51.43% year-on-year, amounting to 66.48 million yuan, while the net loss narrowed to 13.71 million yuan [3][6]. - The software business is rapidly growing, particularly in AI-enabled semiconductor design and manufacturing, with notable product launches such as the INF-AI platform and SemiMind model [4][6]. Financial Performance - The company’s revenue projections for 2025-2027 are estimated at 688.69 million yuan, 852.77 million yuan, and 1.045 billion yuan, respectively, with corresponding net profits of 107 million yuan, 140.11 million yuan, and 179.21 million yuan [6][9]. - The earnings per share (EPS) are forecasted to be 0.53 yuan, 0.70 yuan, and 0.89 yuan for the years 2025, 2026, and 2027, respectively, with price-to-earnings (P/E) ratios of 90.22, 68.90, and 53.87 [6][9]. Research and Development - The company has maintained a high level of R&D investment, with R&D expenses reaching 276.56 million yuan, accounting for 50.57% of total revenue, reflecting a 33.49% increase year-on-year [5][6]. - The company has expanded its product offerings to include DFM and DFT EDA software to meet the demands of advanced processes and large-scale chip yield management [5][6].
可转债策略周报:转债风格或将开始切换-20250429
CMS· 2025-04-29 05:36
三、转债供需:可转债基金对转债需求仍较强 证券研究报告 | 债券定期报告 2025 年 04 月 29 日 截至上周五,上市转债余额为 7026.36 亿元,较前一周增加 20.50 亿元,加权 剩余期限为 2.7 年。发行动态方面,有 3 只转债上市,为清源转债、安集转债 和鼎龙转债,累计发行规模为 22.41 亿元;无转债发布发行公告;有 12 家公司 更新转债发行动态,累计拟发行转债规模为 155.42 亿元。 转债风格或将开始切换 可转债策略周报(0421-0425) 成交久期缩短,收益率回落 一、一周行情回顾:转债市场随权益市场小幅上涨 截至上周五,万得全 A 指数收于 4,956.16 点,一周上涨 1.15%;上证指数收于 3,295.06 点,一周上涨 0.56%;中证转债收于 422.21 点,一周上涨 0.90%;可 转债正股指数收于 1,717.08 点,一周上涨 2.77%。 权益市场方面,上周上证指数缩量上涨。主要股指除上证 50 外均上涨,深证综 指、创业板指领涨。节奏上,上周各指数多震荡上行,周一、周三涨幅较大。 分行业看,汽车、美容护理、基础化工、机械设备和公用事业行业表现较好 ...
广立微(301095):2024年年报及2025年一季报点评:软件业务快速成长,一季度收入增长加速
Guoyuan Securities· 2025-04-29 05:15
Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the benchmark index [6][8]. Core Insights - The company has shown robust revenue growth in 2024, achieving an operating income of 546.87 million yuan, a year-on-year increase of 14.50%. However, the net profit attributable to the parent company decreased by 37.68% to 80.27 million yuan [3][6]. - In the first quarter of 2025, the company returned to a rapid growth trajectory with a revenue of 66.48 million yuan, marking a year-on-year increase of 51.43% [3][4]. - The software business is experiencing significant growth, particularly in AI-enabled semiconductor design and manufacturing, with the software development and licensing segment achieving a revenue of 159 million yuan, up 70.33% year-on-year [3][4]. Financial Performance - The company reported a net profit of -13.71 million yuan in Q1 2025, indicating a significant narrowing of losses compared to previous periods [3]. - The company has maintained a high level of R&D investment, with R&D expenses amounting to 276.56 million yuan, representing 50.57% of operating income, a 33.49% increase year-on-year [5]. - Revenue forecasts for 2025-2027 are projected at 688.69 million yuan, 852.77 million yuan, and 1.045 billion yuan respectively, with net profits expected to reach 107 million yuan, 140.11 million yuan, and 179.21 million yuan [6][9]. Product Development - The company has launched several AI-driven platforms and tools, including the INF-AI semiconductor AI application platform and the SemiMind large model platform, which enhance design and manufacturing efficiency [4][5]. - The company is one of the few EDA firms that provide comprehensive yield management services through a combination of software and hardware solutions, addressing the increasing defect rates in semiconductor manufacturing [5]. Market Position - The company is positioned as a leading supplier of EDA software and wafer-level electrical testing equipment, with significant growth potential aligned with the global integrated circuit industry [6]. - The report highlights the company's ability to adapt to evolving semiconductor processes and the introduction of new EDA software to meet advanced manufacturing needs [5].
苹果印度工厂增产,台积电2nm制程即将进入量产 | 投研报告
Zhong Guo Neng Yuan Wang· 2025-04-28 05:49
开源证券近日发布半导体与半导体生产设备行业周报:1)随着AI应用逐步落地,各大 云计算厂商加速AI基础设施建设,全球生成式AI服务器占比持续提升,预计全球生成式AI 服务器占比从2023年的19.6%提升至2028年的37.7%,提升18.1pct。2)2024年成为中国AI服 务器爆发的一年,2024年中国AI服务器市场规模增幅约87%。预计未来2025-2028年中国AI 服务器的年增幅均在30%左右。3)2025年第一季度全球个人电脑出货量同比增长6.7%,达 到6140万台。 以下为研究报告摘要: 报告要点: 本周(2025.4.21-2025.4.27)市场回顾 1)海外AI芯片指数本周上涨10%,美国降息预期升温,增强市场对经济复苏的预期, 叠加半导体行业需求持续回暖,带动美国半导体科技公司股价整体上涨。2)国内AI芯片指 数本周下跌0.6%。本周国内A股芯片指数较为稳定,但成分股表现分化较大,瑞芯微跌幅超 过6%,兆易创新涨幅约4%。3)英伟达映射指数本周上涨2.8%,半导体行业需求持续回暖 叠加英伟达股价上涨,带动相关产业链标的开始回暖。博创科技和太辰光本周涨幅超过 10%,英维克跌幅接近9% ...
半导体与半导体生产设备行业周报、月报:苹果印度工厂增产,台积电2nm制程即将进入量产-20250427
Guoyuan Securities· 2025-04-27 12:13
Investment Rating - The industry investment rating is maintained as "Recommended" [7] Core Insights - The overseas AI chip index increased by 10% this week, driven by rising expectations of interest rate cuts in the US and a continued recovery in semiconductor demand [1][10] - The domestic AI chip index decreased by 0.6%, with significant divergence in the performance of constituent stocks [1][10] - The global generative AI server share is expected to rise from 19.6% in 2023 to 37.7% by 2028, an increase of 18.1 percentage points [2][27] - The Chinese AI server market is projected to grow by approximately 87% in 2024, with annual growth rates around 30% from 2025 to 2028 [2][28] - Apple plans to increase iPhone production in India by 10% by the end of this year, aiming to produce at least 50 million units [3][35] Market Indices - The overseas chip index rose by 10% this week after a 7% decline last week, reflecting a positive market sentiment [10] - The domestic A-share chip index showed stability but experienced a 0.6% decline this week, with significant variations among constituent stocks [10] - The server ODM index increased by 4.4%, benefiting from the positive outlook in the semiconductor sector [1][10] - The storage chip index rose by 1.6%, supported by the lack of tariff reductions on US storage chips, which is expected to boost domestic demand [1][10] Major Events - TSMC's 2nm process is expected to enter mass production in the second half of this year, with plans to launch the A16 process by the end of 2026 [3][39] - TI reported Q1 2025 revenue of $4.07 billion, an 11% year-over-year increase, with operating profit of $1.324 billion [3][37] - Apple is restructuring its Siri development team and plans to produce a significant portion of its MacBook and iPad in Vietnam for the US market [3][35]