8月26日早盘，集成电路ETF（159546）深度回调超2%。 广发证券指出，近年AI等新技术的带领下，半导体行业呈现以下趋势：（1）汽车电子、新能源、 物联网、大数据和人工智能等领域新技术、新产品的渗透率提升和需求增长，成为半导体板块成长的重 要动力。（2）国产化持续推进，中美贸易摩擦凸显出半导体供应链安全和自主可控的重要性和紧迫 性，政府在产业政策、税收、人才培养等方面加大了对本土半导体制造的支持，国内晶圆制造及其配套 产业环节加速发展势在必行。此外，随着下游供给的缓解，国产芯片的供应将极大缓解，国产算力有望 迎来突破。 集成电路ETF（159546）跟踪的是集成电路指数（932087），该指数从市场中选取涉及半导体设 计、制造、封装测试及相关设备材料等业务的上市公司证券作为指数样本，以反映集成电路行业相关上 市公司证券的整体表现。该指数聚焦科技创新和高成长性企业，旨在体现中国集成电路产业的发展水平 与未来趋势。 没有股票账户的投资者可关注国泰中证全指集成电路ETF发起联接C（020227），国泰中证全指集 成电路ETF发起联接A（020226）。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨 ...

Group 1 - The semiconductor industry is experiencing growth driven by the increasing penetration and demand for new technologies and products in sectors such as automotive electronics, new energy, IoT, big data, and artificial intelligence [1] - The push for domestic production is intensifying, highlighted by the US-China trade friction, emphasizing the importance of supply chain security and self-sufficiency in the semiconductor sector. The government is enhancing support for local semiconductor manufacturing through policies, tax incentives, and talent development [1] - In July, the value added of the computer, communication, and other electronic equipment manufacturing industries increased by 10.2% year-on-year, indicating sustained high demand in the industry [1] Group 2 - The Integrated Circuit ETF (159546) tracks the Integrated Circuit Index (932087), which primarily covers companies in the semiconductor and related industries, including chip design, manufacturing, and packaging testing, reflecting the overall performance of listed companies in the integrated circuit sector [1] - Investors without stock accounts can consider the Guotai Zhongzheng All Index Integrated Circuit ETF Initiated Link C (020227) and Guotai Zhongzheng All Index Integrated Circuit ETF Initiated Link A (020226) [1]

Group 1 - The semiconductor industry is experiencing a comprehensive rebound driven by a combination of macro policy cycles, inventory cycles, and AI innovation cycles, leading to valuation expansion [1] - TSMC has raised its annual revenue growth forecast from 25% to 30%, indicating strong ongoing demand for AI and a moderate recovery in non-AI demand [1] - The U.S. AI action plan may further restrict semiconductor exports, accelerating the push for domestic manufacturing and self-sufficiency in equipment and materials [1] Group 2 - The integrated circuit ETF (159546) tracks the integrated circuit index (932087), which reflects the overall performance of listed companies involved in semiconductor design, manufacturing, packaging, testing, and related materials [2] - Investors without stock accounts can consider the Guotai CSI Integrated Circuit ETF Initiated Link C (020227) and A (020226) for exposure to the integrated circuit sector [2]

Group 1 - The domestic semiconductor backend testing equipment market has significant room for domestic production improvement, with the localization rate for storage testers expected to be only 8% by 2025 and around 9% for SOC testers by 2027 [1] - The rapid development of AI chips and HBM imposes higher requirements on testing processes, as AI chips utilize advanced processes and complex structures, leading to longer testing times and increased precision requirements [1] - The domestic testing equipment market size is projected to grow from 11.62 billion yuan in 2022 to 26.74 billion yuan by 2027, with a CAGR of 12.6%, where testing machines account for 61.9% of the market, with SOC and storage testers being the main segments [1] Group 2 - The Integrated Circuit ETF (159546) tracks the Integrated Circuit Index (932087), which selects listed companies involved in IC design, manufacturing, and packaging testing from the A-share market to reflect the overall performance of the Chinese integrated circuit industry [1] - The Chip ETF (512760) tracks the China Semiconductor Chip Index (990001), which is compiled by China Securities Index Co., Ltd., selecting listed companies involved in key segments of the semiconductor industry chain to reflect the overall performance of the semiconductor chip industry [2] - Investors without stock accounts can consider various fund options related to integrated circuits and semiconductor industries, including the Guotai Zhongzheng All Index Integrated Circuit ETF and the Guotai CES Semiconductor Chip Industry ETF [2]