新材料产业是推进新型工业化的重要支撑，近年来，中国建材集团把握科技创新和产业创新深度融合的 关键路径，不断为材料强国、制造强国建设贡献力量。 同时，在人工智能与材料科学深度融合的当下，中建材新材料基金发挥行业国家队、主力军作用，围绕 新材料产业投资主线重点布局，构建产业生态体系，推动新材料科技创新。 站在科技与资本双轮驱动的新起点，第三届新材料赋能战新产业（300832）伙伴大会近日在北京举行。 2021年7月正式成立的中建材新材料基金，也亮出最新的投资成绩单。 数据显示，中建材新材料基金总规模200亿元，首期规模150亿元，重点投资服务于无机非金属材料、有 机高分子材料、复合材料、特种金属及其他材料等新材料领域。 国务院国资委秘书长庄树新在会上强调，国务院国资委把发展新材料等战略性新兴产业作为一项牵引 性、全局性工作来抓，持续推进央企产业焕新行动和未来产业启航行动，落实落地一揽子支持政策，因 地制宜推进前瞻新兴产业布局。 庄树新表示，中国建材集团作为非金属材料领域的国家队，继续用好产业基金、投资合作等成熟经验， 进一步深化资本赋能，引领新材料产业布局优化；坚持创新驱动，勇当原创技术策源地；强化开放协 同，构 ...

复盘中建材新材料基金。 作者/吴琼 报道/投资界PEdaily 这是今年A股最大I PO之一。 1 0 月 下 旬 ， 西 安 奕 斯 伟 材 料 科 技 股 份 有 限 公 司 （ 简 称 " 西 安 奕 材 " ） 正 式 登 陆 科 创 板 ， 首 日 市 值 一 度 冲 破 1 6 0 0 亿 元 。 随 着 西 安 奕 材 创 始 人 王 东 升 一 声 锣 响 ， 身 后 陪 伴 多 年 的 中建材新材料基金（简称"基金"）收获第一个I PO。 这 是 一 家 年 轻 的 产 业 投 资 机 构 。 时 间 回 到 2 0 2 1 年 ， 中 建 材 新 材 料 基 金 诞 生 ： 由 中 国 建 材集团与安徽省联合国家部委母基金等多方共同发起，总规模2 0 0亿元、首期规模1 5 0 亿元，重点投资服务于无机非金属材料、有机高分子材料、复合材料、特种金属及其他 材料等新材料领域。 成 立 四 年 ， 首 个 I PO 市 值 千 亿 ， 这 样 的 机 构 印 记 在 创 投 行 业 最 近 1 0 年 里 并 不 多 见 。 此 外，鑫华半导体、初源新材、东岳未来、阜阳欣奕华、先导薄膜……这些 ...

Core Viewpoint - The article discusses the strategic shift in the semiconductor industry between China and the U.S., highlighting China's transition from defensive strategies to proactive countermeasures in response to U.S. sanctions and regulations, particularly focusing on rare earth elements as a leverage point in the semiconductor supply chain [1]. Strategic Defense - The U.S. has escalated its control over the semiconductor supply chain, implementing stringent rules that have tightened from 25% to 0%, aiming to sever China's access to advanced manufacturing processes [2]. - In response, China's semiconductor industry adopted a flexible defense strategy, focusing on preserving resources and accumulating counterattack capabilities, particularly by developing mature process technologies above 28nm and achieving over 30% localization in key materials by 2024 [2][3]. - China's understanding of U.S. regulatory weaknesses allowed it to prepare for future counterattacks, akin to the Red Army's strategic maneuvers during historical conflicts [3]. Strategic Counterattack - The introduction of new rare earth regulations on October 9 marked a significant turning point in the "chip offense and defense conversion war," targeting critical components in high-end semiconductor manufacturing [6]. - China's counterattack strategy involved coordinated actions against U.S. semiconductor giants and military enterprises, leveraging its dominance in rare earth materials and enhancing its industrial capabilities [6][7]. - This shift from passive defense to active positioning reflects a broader strategy of mutual engagement and collaboration within the industry, emphasizing the importance of a robust supply chain [7]. Current Phase and Future Outlook - The semiconductor industry is now in a balanced phase, with a restructuring of global supply chains underway, indicating a shift in power dynamics [10]. - The U.S. sanctions are beginning to backfire, leading to a loss of domestic jobs as international equipment manufacturers relocate to maintain access to the Chinese market [10]. - For China's semiconductor sector, the focus must now be on adapting to changes, deepening expertise in automotive and industrial control chips, and fostering vertical collaboration across the supply chain [10][11]. - The article concludes that the evolution of the "chip offense and defense conversion war" illustrates the enduring value of strategic thinking, emphasizing the need for continuous innovation and collaboration to secure a competitive edge in the global market [13].

Group 1 - The semiconductor materials ETF (562590) has seen a decline of 0.66%, with the latest price at 1.06 yuan, while its scale reached 323 million yuan, marking a one-month high [1] - In terms of fund inflow, the semiconductor materials ETF recorded a net inflow of 3.2024 million yuan, with a total of 20.5227 million yuan net inflow over the last 10 trading days, indicating strong investor interest [1] - TCL and Alibaba Cloud announced a strategic cooperation on May 21, focusing on AI in semiconductor display and smart terminal fields, aiming to enhance R&D efficiency through the integration of specialized knowledge [1] Group 2 - The semiconductor materials ETF and its connected funds closely track the CSI Semiconductor Materials and Equipment Index, with semiconductor equipment and materials accounting for over 77% of the index, targeting critical areas in chip manufacturing [2]

Key Points Summary Core Viewpoint - The reduction in holdings by major funds in SMIC and Huahong reflects a strategic exit aligned with investment cycles, amidst pressures from industry cycles and geopolitical factors impacting the semiconductor sector [3][12]. Group 1: Company Performance and Financial Data - SMIC's net profit surged by 166.5% year-on-year to 1.356 billion yuan, driven by an increase in capacity utilization to 89.6% and product mix optimization, despite a projected revenue decline of 4%-6% in Q2 [1][2]. - Huahong's revenue grew by 18.66%, but net profit plummeted by 89.73% to 22.76 million yuan, with Q2 gross margin expected to drop to 7%-9% [1][2]. Group 2: Market Reactions and Investor Sentiment - The market reacted negatively to the reduction in holdings, with SMIC's stock dropping over 10% and Huahong's by 9.33% on the same day [1][7]. - Concerns over capital withdrawal and the potential impact on the semiconductor sector were evident, with a collective decline in the semiconductor sector following the news [7]. Group 3: Industry Dynamics and Competitive Landscape - The competitive landscape is tightening with international giants like TSMC and UMC ramping up their mature process capabilities, posing risks of price wars for domestic foundries [4]. - Geopolitical tensions, particularly U.S. export restrictions, are creating uncertainties for SMIC's advanced process equipment procurement, while Huahong's focus on power devices is less affected [4]. Group 4: Strategic Responses and Future Outlook - SMIC plans to increase the share of its mature process capacity (28nm and above) to 70% by 2025 and is focusing on partnerships with domestic clients to reduce reliance on foreign brands [8]. - Huahong is concentrating on niche markets with its 55nm BCD process and IGBT technology, aiming to ramp up production at its new facility to support growth in automotive chip business [9]. Group 5: Long-term Opportunities and Risks - The domestic semiconductor industry is expected to see a rise in localization, with the potential for domestic equipment and materials to increase from 20% to 40% by 2027 [11]. - Emerging markets, particularly in electric vehicles and photovoltaics, are anticipated to drive demand for power devices, with Huahong's automotive chip revenue share projected to grow from 28% in 2024 to 40% in 2026 [11].