证券日报网讯2月26日，同兴达（002845）在互动平台回答投资者提问时表示，目前昆山芯片封测项目 一期正顺利进行，更多情况请关注公司后续公告信息。 ...

证券研究报告|宏观点评报告 [Table_Date] 2026 年 01 月 27 日 [Table_Title] 资产配置日报：科技归来 [Table_Title2] [Table_Summary] 1 月 27 日， 股市低开高走，科技板块重新升温，上证指数几经周折，尾盘再度收于 4140 点，资金经历短期 纠结后，继续涌向双创领域，科创综指、创业板指单日上涨 1.72%、0.71%。"股债跷跷板"效应成为日内债市 定价主导变量，风险偏好小幅提振的背景下，债市收益率普遍上行。 权益市场缩量上涨。万得全 A上涨 0.14%，全天成交额 2.92 万亿元，较昨日（1 月 26 日）缩量 3592 亿 元。港股方面，恒生指数上涨 1.35%，恒生科技上涨 0.50%。南向资金净流出 6.35 亿港元，其中中国移动和紫金 矿业分别净流出 11.47 亿港元和 8.43 亿港元，而腾讯控股净流入 10.24 亿港元。 指数呈现 V 型走势。早盘 4000+只股票下跌，万得全 A 跌幅一度达 1.40%。不过前期在窄幅震荡区间聚集的 筹码，支撑指数从负转正。正如我们在《暗流涌动》中提及，这部分筹码在牛市延续的共识下进 ...

本次事故未造成人员伤亡，事故导致凸块制程段部分无尘室环境及生产设备受到影响，具体损失情况正 在核实评估，初步预计或将对2026年全年业绩产生一定影响。公司已对受损资产投保财产险，相关保险 核损理赔工作有序推进。苏州颀中因本次事故部分需后续处理的产品的生产进度，公司正统筹安排合肥 厂区产能提供支应，并加速凸块产能扩充，尽最大努力保障客户订单交付，同时全力加快多元化芯片封 测事业的布局与扩展。截至本公告日，公司生产经营情况正常。 格隆汇1月25日丨颀中科技(688352.SH)公布，2026年1月24日清晨，公司全资子公司颀中科技（苏州） 有限公司（称"苏州颀中"）厂区凸块制程段发生火灾事故。事故发生后，公司立即启动应急预案，成立 现场应急小组，全力配合当地消防部门开展现场灭火救援，火情已经扑灭。目前，火灾事故的具体原因 正在调查、核实中。 ...

证券日报网1月16日讯，颀中科技在接受调研者提问时表示，在显示驱动芯片封测领域，公司计划通 过"高脚数微尺寸凸块封装及测试项目"的落地实施，提升显示驱动芯片铜镍金凸块的产能规模，同步扩 大CP、COG、COF环节的产能供给。此举将进一步完善公司在显示驱动芯片封测业务的整体布局与产 品矩阵，从而巩固在显示驱动芯片封测领域——尤其是铜镍金细分领域的市场领先地位；在非显示类芯 片封测领域，公司依托在凸块制造、晶圆减薄等工艺的深厚积累，积极布局"FSM(正面金属 化)+BGBM(背面减薄与金属化)+CuClip(铜片夹扣键合)"的先进封装组合，建立载板覆晶封装(FC)制程， 优化公司产品布局，拓宽功率芯片应用领域，本次募投项目的实施将有利于提升公司非显示类封测业务 全制程服务能力，带动现有制程的业务拓展。 ...

Group 1 - The core point of the news is that Xin Heng Hui's stock price dropped by 5.04% to 68.21 CNY per share, with a trading volume of 297 million CNY and a turnover rate of 8.93%, resulting in a total market capitalization of 16.34 billion CNY [1] - Xin Heng Hui Electronic Co., Ltd. is located in Zibo City, Shandong Province, established on December 7, 2017, and listed on June 20, 2025. The company's main business includes smart card business (59.74% of revenue), etched lead frame business (28.34%), and IoT eSIM chip testing business (6.16%) [1] Group 2 - From the perspective of major fund holdings, Dongzheng Asset Management has one fund heavily invested in Xin Heng Hui. The fund, Dongfang Hong Xinhe Balanced Two-Year Mixed Fund (FOF) (011587), held 382 shares in the third quarter, unchanged from the previous period, accounting for 0.0007% of circulating shares, ranking as the eighth largest holding [2] - The fund has a total scale of 1.166 billion CNY, with a year-to-date return of 1.28%, ranking 787 out of 1305 in its category, a one-year return of 23.86%, ranking 388 out of 1035, and a cumulative return since inception of 17.37% [2]

Core Viewpoint - The memory chip shortage is driving significant price increases in the packaging and testing sector, with major players like Powertech Technology, ASE Technology, and Nanya Technology seeing a surge in orders and capacity utilization nearing full capacity, leading to price hikes of up to 30% [1][2] Group 1: Market Dynamics - The demand for DDR4, DDR5, and NAND chips is strong due to the recovery in cloud and industrial control sectors, further boosting the backend testing demand [2] - Major memory packaging and testing companies in Taiwan, including Powertech, Nanya, and ASE, are experiencing high capacity utilization rates, prompting them to raise prices [2] - The potential for a second wave of price increases exists, depending on supply and demand conditions [2] Group 2: Company Performance - Powertech is the leading global provider of DRAM and NAND chip packaging, with nearly full capacity utilization in both segments, which is expected to positively impact its gross margin and profitability [2] - ASE Technology focuses on niche memory packaging and has seen a recovery in orders from industrial control clients, indicating a return to normal demand levels [2] - Nanya Technology is benefiting from the recovery in the traditional DRAM market, with DDR4 products accounting for 70-80% of its revenue, which is crucial for its operational performance [2]

Group 1 - The National University of Defense Technology's magnetic levitation team set a world record by accelerating a ton-class test vehicle to 700 km/h within two seconds, marking the fastest superconducting electric magnetic levitation test speed globally. This achievement signifies China's entry into the international leading position in the field of ultra-high-speed magnetic levitation after overcoming key technological challenges [2]. Group 2 - Huawei launched its thinnest nova smartphone, the nova 15, which features HarmonyOS 6 and supports dual satellite messaging, including BeiDou and Tiantong communication for the Ultra version [2]. Group 3 - Fulei New Materials delivered a thousand sets of flexible sensors to Lingxin Qiaoshou, marking a significant milestone in their collaboration. These sensors will be used in Lingxin Qiaoshou's flagship product, Linker Hand O6, enhancing robotic perception technology for complex industrial scenarios [2]. Group 4 - The "Advanced Packaging and Testing Base Project for Digital Light Source Chips" has commenced construction in the Lingang New Area, focusing on Micro-LED light source chips for high-end vehicles. The project, with an initial investment of 300 million yuan, aims to produce 1.2 million Micro-LED light source chips and 600,000 sets of headlight modules annually by mid-2027 [2].

Core Insights - The article highlights the transformation of Shenzhen's Bao'an industrial parks from outdated facilities to modern industrial clusters, showcasing successful stories of park transformation, enterprise growth, and government-enterprise collaboration. Group 1: Transformation of New Qiao East Advanced Manufacturing Park - The New Qiao East Advanced Manufacturing Park represents a significant urban renewal project, transitioning from a "rust belt" to a "smart manufacturing hub" [1] - The area previously had low-rise factories and a total output value of approximately 9 billion, which was insufficient for new industrialization needs [1] - The project commenced in 2020 and utilized an innovative model of "government-led + state-owned enterprise implementation + community participation," completing the implementation phase in just 2 years, significantly shorter than similar projects [1] Group 2: Industrialization Beginnings - Bao'an's industrialization began with the establishment of the first "three supplies and one compensation" enterprise in 1978, marking the start of the industrialization 1.0 era [3] - Early industrial parks were characterized by single or low-rise factories, leading to issues such as land scarcity and pollution, but they laid the foundation for future upgrades and optimization [3] Group 3: Nurturing Niche Industries - Bao'an's specialized parks are fostering leading enterprises in niche sectors, such as the Fuyong e-Creative City, which focuses on cross-border e-commerce and has established a talent training base [4] - The Qianhai Kexing Science Park attracts digital entertainment companies with long-term rental discounts, contributing to the growth of the digital entertainment industry cluster [4] - Innovative industrial housing in Bao'an offers significant rental discounts, enabling high-quality enterprises to establish themselves in the region [4] Group 4: Support for Startups - Bao'an has established 13 "worry-free spaces" for startups, providing over 16,000 square meters of space and offering rent-free periods of 3 to 12 months for companies in AI and robotics [5] - These parks provide comprehensive lifecycle services, including one-on-one guidance for intellectual property protection and connections to investment and banking resources [5] - In 2023, Bao'an's "three ones" enterprise service mechanism addressed over 8,000 enterprise requests, achieving a completion rate of 99.4% and facilitating over 65 billion in financing for numerous startups [5]

Core Viewpoint - The announcement highlights the high technical barriers in the storage chip packaging industry, emphasizing the company's leadership position in high-end storage chip testing and packaging in China [1] Group 1: Company Capabilities - The company possesses a highly experienced R&D and engineering team, which is crucial for maintaining its competitive edge in the industry [1] - The company has advanced multi-layer stacking packaging technology and software development capabilities for testing [1] Group 2: Production Status - The company's packaging facilities in Shenzhen and Hefei are currently operating at full capacity [1] - The company is expanding production in response to recent customer demand [1]

Group 1: Company Overview and Market Position - Shenzhen Changcheng Development Technology Co., Ltd. is a leading enterprise in high-end storage chip packaging and testing, with a strong R&D and engineering team [2][4]. - The company is currently operating at full capacity in its Shenzhen and Hefei packaging and testing facilities, with plans for expansion based on customer demand [3][4]. Group 2: Financial and Operational Metrics - As of November 10, 2025, the number of shareholders is 230,106 [2]. - The company's inventory as of September 30, 2025, is 2.442 billion yuan, a decrease of 7.15% compared to the end of the previous year [3]. Group 3: Strategic Plans and Market Trends - The company is closely monitoring macroeconomic trends and policy developments to create long-term value for shareholders [2]. - There are no current plans for mergers or acquisitions, but the company will disclose any relevant information as required [3][4]. Group 4: Customer and Market Dynamics - The company maintains confidentiality regarding customer information and order details, but it is noted that existing orders are filled through 2026 [3][4]. - The company emphasizes its competitive edge over peers like Tongfu Microelectronics and Changjiang Storage, highlighting its advanced technology and partnerships with major storage enterprises [4].