炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 旗下资产谋求IPO接连受挫，"创业达人"贺贤汉开启了"曲线上市"模式：除了将部分资产装入上市平台 富乐德外，又转战新战场——北交所。 中国证监会官网于10月11日披露，杭州中欣晶圆半导体股份有限公司（简称"中欣晶圆"）于10月10日在 浙江证监局完成了IPO辅导备案登记，拟登陆北交所，辅导机构为财通证券、中信证券。 | | 行辅导公示 | 辅导对象 | 辅导机构 | 备蓄时间 | 辅导状态 | 混出机构 | 报告类型 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 天津 | 核州中欣晶圆半导体股份有 限公司 | 财通证券股份有限公司 | 2025-10-10 辅导备案 | | 浙江证监局 | 辅导备案报告 | | 1 | 山西 | | | | | | | | | 辽宁 | 浙江鹏孚隆科技股份有限公 8 | 广发证券股份有限公司 | 2025-10-09 辅导备案 | | 浙江证监局 | 辅导备案报告 | 冲刺北交所IPO 中欣晶圆成立于2017年9月，注册资本50.32亿元 ...

2025 年 10 月 9 日星期四 本期编辑 | 分析师：刘嘉玮 | | | --- | --- | | 010-66554043 | liujw_yjs@dxzq.net.cn | | 执业证书编号： | S1480519050001 | 东兴晨报 P1 经济要闻 东兴证券研究所金股推荐 | 证券代码 | 证券简称 | | --- | --- | | 002074.SZ | 国轩高科 | | 002850.SZ | 科达利 | | 002991.SZ | 甘源食品 | | 300619.SZ | 金银河 | | 300666.SZ | 江丰电子 | | 600012.SH | 皖通高速 | | 600176.SH | 中国巨石 | | 605123.SH | 派克新材 | | 688103.SH | 国力电子 | | 688111.SH | 金山办公 | | 688627.SH | 精智达 | 重要公司资讯 数据来源：《十月金股汇》 2025 年 09 月 29 日，东兴证券研究所 东 兴 晨 报 东 兴 证 券 股 份 有 限 公 司 敬请参阅报告结尾处的免责声明 东方财智 兴盛之源 1. 北交所：自 ...

[Table_Main] 证券研究报告 | 策略点评 2025 年 09 月 25 日 策略点评 证券分析师 程强 资格编号：S0120524010005 邮箱：chengqiang＠tebon.com.cn 翟堃 资格编号：s0120523050002 邮箱：zhaikun＠tebon.com.cn 高嘉麒 资格编号：S0120523070003 邮箱：gaojq＠tebon.com.cn 研究助理 相关研究 高位震荡分化格局延续 资料来源：Wind，德邦研究所 1）股票市场：高位震荡，宁德时代市值超越贵州茅台 高位震荡，创业板领涨。今日 A 股市场呈现结构性分化特征，1474 家上涨、3875 家下跌。创业板指延续强势表现，全天上涨 1.58%至 3235.76 点，再创阶段新高； 上证指数微跌 0.01%，收于 3853.30 点。市场成交保持活跃，全天成交额 2.39 万 亿，较前一交易日小幅放量。 宁德时代市值超越茅台。行业层面，科技成长板块走强，服务器、半导体硅片、铜 产业、核聚变等板块领涨，周期类板块表现低迷，家电、煤炭、银行等板块跌幅居 前，市场呈现"科技权重搭台、题材唱戏"的格局。个股层面， ...

格隆汇9月25日｜立昂微公告，公司股票价格近期涨幅较大，公司股票于2025年9月23日、9月24日、9月 25日连续3个交易日以涨停价收盘，可能存在非理性炒作风险，可能存在短期涨幅较大后的下跌风险。 公司2024年度半导体硅片业务毛利率为-1.82%。公司2024年度归属于上市公司股东的净利润-26,575.71 万元、归属于上市公司股东的扣除非经常性损益的净利润-26,595.86万元，2025年半年度归属于上市公 司股东的净利润-12,702.52万元、归属于上市公司股东的扣除非经常性损益的净利润-12,610.87万元。敬 请广大投资者注意业绩亏损风险。 ...

半导体产业链全线拉升。存储芯片概念股走高，其中通富微电(002156)直线拉升涨停。 9月24日，A股三大指数集体低开。开盘后拉升，三大指数盘中均翻红。 盘面上，供气供热、水务、石油等板块涨幅居前；通信设备、元器件、旅游等板块跌幅居前。 银行股反复活跃，渝农商行涨超3%，齐鲁银行、邮储银行、工商银行、浙商银行、中国银行、杭州银行涨超1%。 港股方面，恒生指数和恒生科技指数飘红。半导体股盘初拉升，中芯国际涨超3%，股价创新高，华虹半导体涨超2%。另外，美团等涨超2%，阿里巴巴涨 超1%，金山云跌近8%，百度跌近3%。 半导体硅片概念股拉升 盘初，半导体硅片概念股继续走强，立昂微2连板，神工股份、有研硅、沪硅产业、中晶科技等纷纷冲高。 消息面上，半导体硅片涨价预期愈演愈烈，海外环球晶圆、胜高、合晶、世创等公司股价近期大幅上涨。 影视院线板块拉升 影视院线板块盘初走强，博纳影业涨停，光线传媒、欢瑞世纪、华策影视、中国电影、幸福蓝海、横店影视等纷纷拉升。 据猫眼专业版数据，截至9月23日17时08分，2025年国庆档新片预售总票房已突破500万元。《刺杀小说家2》领跑国庆档预售票房榜，《浪浪人生》《志 愿军：浴血和平 ...

Market Overview - The A-share market opened lower on September 24, with the Shanghai Composite Index rising by 0.24% to 3831.11 points, while the Shenzhen Component Index fell by 0.19% to 13095.03 points [2][3] - The total trading volume reached 598.5 billion CNY, with a predicted total of 2.22 trillion CNY, a decrease of 294.7 billion CNY from the previous session [3] Real Estate Sector - The real estate sector experienced a significant surge, with stocks such as Yunnan Chengtou, Chongqing Development, and Shanghai Lingang hitting the daily limit [7][15] - Notable performers included: - Yunnan Chengtou: +10.16% [8] - Chongqing Development: +10.02% [11] - Shibei Gaoxin: +9.98% [11] Semiconductor Sector - Semiconductor stocks showed strong performance, with Shen Gong Co. achieving a 20% limit up and Li'ang Micro hitting the limit within one minute of opening [15][17] - Other notable stocks included: - Youyan Silicon: +9.13% [17] - Hu Silicon Industry: +7.53% [17] - Zhongjing Technology: +2.95% [17] Hong Kong Market - The Hong Kong stock market indices rose, with the Hang Seng Index increasing by 0.27% to 26228.90 points [5] - Notable stocks included: - SMIC: +3.24% [6] - Meituan: +2.18% [6] - NIO: +2.33% [6] Corporate Actions - Huazhong Cable announced plans to acquire control of San Zhu Intelligent for up to 270 million CNY, aiming to enhance its integrated solution capabilities and enter new business areas [20][22]

【导读】房地产板块异动拉升，半导体概念股走强 中国基金报记者 李智 一起来看下最新的市场情况及资讯。 9月24日开盘，A股三大指数集体低开，随后震荡拉升。截至发稿，沪指涨0.24%，深成指跌 0.19%，创业板指跌0.42%。 | 上证指数 | 深证成指 | 北证50 | | | --- | --- | --- | --- | | 3831.11 | 13095.03 | 1562.44 | | | +9.28 +0.24% | -24.79 -0.19% | +14.99 +0.97% | | | 科创50 | 创业板指 | 万得全A | | | 1424.61 | 3101.48 | 6209.85 | | | +17.31 +1.23% | -13.08 -0.42% | +7.25 +0.12% | | | 沪深300 | 中证500 | 中证A500 | | | 4522.99 | 7191.16 | 5452.23 | | | +3.22 +0.07% | +10.45 +0.15% | +6.22 +0.11% | | | 中证1000 | 深证100 | 中证红利 | | | 7412.65 ...

（来源：半导体前沿） 中国半导体大硅片年度报告 2024 CHEM 国半导体大硅片 年度报告 2024 免费声明: 1. 本报告仅供授权读者使用。未经亚化咨询公司书面许可,订阅者不得转让、出售、对外发表该本报告的内容(包括但不限于其中的部分图片、 表格和文字信息)。 2 本报告基于公开信息和亚化咨询的专有知识,不涉及任何企业机密信息。报告力求信息数据的可靠性,但不完全保证其准确性及完整性。订阅 者做出的商业决策与亚化咨询无关。 中国半导体大硅片年度报告 2024 HEM ASIAC 摘要 硅片,也称硅晶圆,是半导体行业发展的基础材料,也是市场规模最大的半导体制造材 料。通常将直径 8 英寸(200mm)及以上的硅片为大硅片。半导体硅片是生产集成电路、分 2016年至2023年间，全球半导体硅片（不含SOI）销售额从72.09亿美元上升至121.29亿美元，年均复合增长率达7.72%。 2016年至2023年间，中国大陆半导体硅片销售额从5亿美元上升至17.32亿美元，年均复合增长率高达19.43%，高于同期全 球半导体硅片的年均复合增长率。随着半导体库存去化和下游需求恢复，2024年全球硅晶圆出货量将同比增长 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8] Core Views - The company reported a revenue of 85.56 billion yuan for the first half of 2025, representing a year-on-year growth of 6.65%. The net profit attributable to shareholders was 1.883 billion yuan, up 89.26% year-on-year, while the net profit excluding non-recurring items reached 1.559 billion yuan, marking a 178.96% increase. Operating cash flow was 27.274 billion yuan, reflecting a growth of 115.9% [2][6] - The report highlights a significant potential for dividend increases due to a clear upward trend in dividend yield, as capital expenditures decrease and the profit statement recovers. The stock price has already reflected the temporary drag from the photovoltaic business, indicating substantial room for long-term valuation increases [2][12] Business Segment Summary - In the semiconductor display segment, TCL Huaxing achieved a revenue of 50.43 billion yuan, a year-on-year increase of 14.4%, with a net profit of 4.32 billion yuan, up 74.0%. This segment contributed 2.63 billion yuan to the net profit attributable to TCL Technology, a 51% increase year-on-year. The display business showed strong performance in the second quarter, driven by high growth in niche markets such as NB, automotive, and mobile [12] - The semiconductor silicon wafer business reported a revenue of 2.74 billion yuan, a year-on-year increase of 38.2%. In the renewable photovoltaic segment, TCL Zhonghuan's revenue was 9.87 billion yuan, down 28.0% year-on-year, with crystalline wafer revenue at 5.77 billion yuan, a 7.1% decrease quarter-on-quarter [12] - Other businesses, primarily TV OEM, generated a revenue of 10.39 billion yuan, a year-on-year increase of 16%, maintaining the global leading position in TV OEM volume [12] Financial Projections - The company is projected to have earnings per share (EPS) of 0.29, 0.45, and 0.52 yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (PE) ratios of 15.23, 9.72, and 8.35 [12][18]

Core Viewpoint - Shanghai Super Silicon is enhancing its product technology advantages in the semiconductor silicon wafer sector, which has long been dominated by international giants, thereby contributing to the self-sufficiency of China's semiconductor industry [1][2]. Group 1: Company Achievements - In 2024, Shanghai Super Silicon was the only invited company, apart from the top five global silicon wafer manufacturers, to participate in a semiconductor silicon wafer benchmarking test organized by a leading international memory chip manufacturer [1]. - The test results indicated that the silicon wafers produced by Shanghai Super Silicon met the stringent quality requirements of the top five silicon wafer manufacturers, allowing the company to be included in the regular supplier system of the world's largest memory chip manufacturer [1][2]. Group 2: Market Position and Collaborations - The global silicon wafer market is dominated by a few international giants, with the top five companies holding over 80% market share, indicating significant growth potential for domestic silicon wafer enterprises in both import substitution and international market entry [2]. - Shanghai Super Silicon has established bulk supply relationships with 18 out of the top 20 integrated circuit companies globally, supplying 200mm and 300mm silicon wafers for advanced process chips, including NAND Flash, DRAM, and logic chips [2]. Group 3: Technological Advancements - The company has developed a comprehensive research and innovation system covering all core processes of silicon wafer manufacturing, achieving consistency and reliability recognized by several international top clients [4]. - Shanghai Super Silicon independently controls the design and integration technology of single crystal growth furnaces, making it one of the few semiconductor silicon wafer manufacturers globally with integrated systems for crystal growth equipment, software, and control technology [4]. Group 4: Domestic Impact and Future Prospects - The company aims to leverage its international experience to support breakthroughs in domestic semiconductor manufacturing processes, contributing to the self-sufficiency of China's chip industry [4][5]. - With ongoing technological innovations and deep industry engagement, the domestic semiconductor industry's localization process is expected to accelerate, laying a solid foundation for achieving comprehensive self-sufficiency in the chip sector [6].