Market Performance - As of July 29, the Shanghai Composite Index rose by 0.33% to close at 3609.71 points, the Shenzhen Component Index increased by 0.64% to 11217.58 points, and the ChiNext Index surged by 1.86% to 2406.59 points [1] - The Kweichow Moutai Semiconductor ETF (588170) increased by 1.85%, reaching a new high for the year during intraday trading, while the Semiconductor Materials ETF (562590) rose by 1.03% [1] - In the overnight U.S. market, the Dow Jones Industrial Average fell by 0.46%, the S&P 500 decreased by 0.3%, and the Nasdaq Composite dropped by 0.38% [1] Industry News - NVIDIA's CEO Jensen Huang announced that the Trump administration has granted them an export license, allowing NVIDIA to begin selling H20 chips to the Chinese market. Due to strong demand, NVIDIA has placed an order for 300,000 H20 chips with TSMC, supplementing its existing inventory of 600,000 to 700,000 chips [2] - Micron has launched the industry's highest density radiation-resistant SLC NAND flash memory, designed for extreme environments such as space. This product has passed various rigorous standards and marks Micron's entry into the aerospace-grade edge computing storage market [2] - Anhui Jingmei Photomask Co., Ltd., the first semiconductor photomask company in Anhui, is set to be established with a total investment of 1.195 billion yuan from multiple investors. The technology assets for photomasks will be transferred from Jinghe Integration, and the company will focus on producing photomasks for 28nm and above process nodes [2] AI and Semiconductor Industry Trends - Huatai Securities believes that AI agents have become a "killer application" across various industries, enhancing efficiency and reducing costs while gradually changing business logic and organizational structures. The focus is shifting from "pre-training" to post-training and inference needs, with many companies leveraging foundational models like Deepseek and Qwen for practical AI capabilities [3] - China holds significant advantages in application scenarios and product cost reduction, which may shift the U.S.-China AI industry chain from parallel development to a competitive and cooperative state [3] - The Kweichow Moutai Semiconductor ETF (588170) tracks the Shanghai Stock Exchange's semiconductor materials and equipment theme index, focusing on semiconductor equipment (59%) and materials (25%), which are crucial areas for domestic substitution [3][4]

Core Viewpoint - The company plans to spin off its photomask business into a separate entity, Anhui Jingmei Photomask Co., Ltd., to enhance operational efficiency and market competitiveness in the semiconductor photomask production sector [2][3]. Group 1: Business Strategy - The company aims to establish a dedicated production line for photomasks focusing on semiconductor processes of 28nm and above [2]. - The spin-off is intended to better capture market opportunities, expand production scale, and enhance supply chain stability and industry synergy [3]. Group 2: Intellectual Property and Technology - Anhui Jingmei currently holds 24 patents, including 20 invention patents and 4 utility model patents, with 17 patents already certified and 7 pending [2]. - The company possesses 73 proprietary technologies, which are essential for the operation of photomask equipment and production processes, ensuring product yield [2]. Group 3: Financial Aspects - The estimated value of the transferred photomask-related technology is approximately 27.73 million yuan [2]. - The company plans to raise a total of 1.195 billion yuan through investments from various partners, with the company itself contributing 200 million yuan from its own funds [3].

中国国际金融股份有限公司 关于合肥晶合集成电路股份有限公司 拟对外投资暨关联交易的核查意见 中国国际金融股份有限公司（以下简称"保荐机构"）作为合肥晶合集成电路股份 有限公司（以下简称"晶合集成"或"公司"）首次公开发行股票并在科创板上市的保荐 机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等法律法规的 有关规定，对晶合集成拟对外投资暨关联交易的事项进行了审慎核查，具体核查情况 及意见如下： 一、关联交易概述 （一）交易概述 近年来，我国半导体产业快速发展，光刻掩模版（以下简称"光罩"）作为半导体 制造中光刻工艺的核心图形母版，是集成电路制造的关键材料之一，其重要性日益凸 显，且市场对高性能、高精度光刻掩模版的需求持续增长。2022年，晶合集成开始建 设光罩生产线项目。2024年7月，晶合集成生产出安徽省首片半导体光刻掩模版，填补 了安徽省在该领域的空白。 根据公司发展战略规划，晶合集成拟将光罩业务从公司的现有业务中划分出来独 立运营，规划设立安徽晶镁光罩有限公司（以下简称"安徽晶镁"或"标的公司"）建 设光罩 ...