12月15日晚间，AI芯片厂商寒武纪发布公告称，公司拟使用母公司资本公积27.78亿元用于弥补母公司累计亏损。本次公积金弥补亏损以公司2024年末母公 司未分配利润负数弥补至零为限。 热门ETF方面，科创人工智能ETF（589520）标的指数均衡配置应用软件、终端应用、终端芯片、云端芯片四大环节，AI产业链正由云端向边缘侧发展，从 依赖海外技术向自主可控发展，科创人工智能方向契合AI产业链当下现状，或具备更大潜力。 盘面上，12月16日早盘，重仓端侧AI的——科创人工智能ETF（589520）随市回调，场内价格现跌1.77%，该ETF场内宽幅溢价，显示买盘资金更为强势， 或有资金逢跌进场抢筹！事实上，该ETF昨天单日吸金511万元。 此前，寒武纪业绩表现亮眼，东海证券指出，2025年前三季度该公司营收与归母净利润同比大幅增长，主要系以思元590为代表的云端产品大幅放量所致， 后续思元690也有望受益于量价齐升的逻辑。在中美科技摩擦的背景下，国产AI芯片迎来加速替代期。 值得关注的是，端侧AI领域不断涌现新成果，字节跳动旗下豆包手机助手技术预览版12月初发布；阿里巴巴正式开售自研的夸克AI眼镜。政策面上，国务 ...

12月15日晚间，AI芯片厂商寒武纪发布公告称，公司拟使用母公司资本公积27.78亿元用于弥补母公司 累计亏损。本次公积金弥补亏损以公司2024年末母公司未分配利润负数弥补至零为限。 市场分析人士指出，资本公积补亏是公司资产负债表中所有者权益科目的内部账务调整，仅让"资本公 积"余额减少、"未分配利润"余额增加，无实质性资金流动，对公司净资产和现金流均无实质影响，因 此不会对正常经营产生风险；而补亏完成后，公司年末未分配利润将由负转正，届时即可满足分红所需 的财务条件。 此前，寒武纪业绩表现亮眼，东海证券指出，2025年前三季度该公司营收与归母净利润同比大幅增长， 主要系以思元590为代表的云端产品大幅放量所致，后续思元690也有望受益于量价齐升的逻辑。在中美 科技摩擦的背景下，国产AI芯片迎来加速替代期。 值得关注的是，端侧AI领域不断涌现新成果，字节跳动旗下豆包手机助手技术预览版12月初发布；阿 里巴巴正式开售自研的夸克AI眼镜。政策面上，国务院印发《关于深入实施人工智能+行动的意见》， 提出到2027年新一代智能终端、智能体等应用普及率超70%，到2030年超90%。 业内人士指出，相比算力，AI应用似 ...

12月15日晚间，AI芯片厂商寒武纪发布公告称，公司拟使用母公司资本公积27.78亿元用于弥补母公司累计亏损。 本次公积金弥补亏损以公司 2024年末母公司未分配利润负数弥补至零为限。 根据天健会计师事务所(特殊普通合伙)为公司出具的2024年度《审计报告》(天健审(2025)2943号)，截至2024年12月31日，母公司财务报表 累计未分配利润为-27.78亿元，盈余公积期末余额为0元，资本公积期末余额为96.25亿元。 据了解，资本公积金弥补亏损，是2024年7月1日起施行的新《公司法》中允许的财务操作，指公司先用任意公积金和法定公积金弥补累计亏 损，仍不足的话，可按规定用特定范围的资本公积金填补亏损，且弥补以未分配利润负数冲减至零为限。 针对寒武纪拟以27.78亿元资本公积金弥补累计亏损的方案，市场普遍关注此类操作的常见性、潜在影响及风险。 对此，资深投行人士王骥跃在接受《科创板日报》记者采访时分析表示："资本公积补亏是新公司法才允许的事，市场上已有先例。该操作 对公司净资产和现金流均无实质影响，因此不会对正常经营有任何风险；而补亏完成后，公司年末未分配利润将由负转正，届时即可满足分 红所需的财务条件 ...

12月4日下午，一则有关寒武纪的"小作文"在市场流传，寒武纪尾盘快速拉升。 12月4日晚间，寒武纪发布严正声明称，公司关注到今日媒体及网络传播的关于公司产品、客户、供应及产能预测等相关信息，均为误导市场的不实信 息。 据智通财经报道，当天早些时候，有外媒援引知情人士的话报道称，寒武纪计划明年将人工智能（AI）芯片产量提升逾三倍，对标华为抢占市场份额， 并填补因英伟达被迫退出而产生的市场空缺。 该报道还称，寒武纪计划在2026年交付50万个AI加速器，其中包括多达30万个其最先进的思元590和690晶片。据悉，公司将主要通过中芯国际最新的7纳 米"N+2"工艺生产晶片。 上述消息一出，寒武纪尾盘放量拉升，收盘涨2.75%。12月4日早盘，寒武纪一度跌近3%，随后震荡拉升。 截至收盘，寒武纪报1369元/股，总市值为5773亿元。今年以来，寒武纪股价累计涨幅达108%。 在此，公司提醒广大投资者，寒武纪相关事项均以公开披露信息为准，请各位投资者提高信息辨别能力，不传播、不采信来源不明或未经核实的虚假信 息。 此外，对于任何捏造、散布传播不实信息的行为，公司将保留追究相关人员法律责任的权利。 根据公告，公司拟使用母 ...

12月4日周四，AI芯片厂商寒武纪股价因明年将大幅提升产能的市场传言尾盘大涨，后深夜紧急发布"严正声明"辟谣，称当日媒体及网络传播的公司相关 信息均不实，并保留追究法律责任的权利。 尽管寒武纪否认传言，国内外机构目前仍极为看好该司后市表现。国际投行Bernstein周四给出的目标价预示着，寒武纪股价较当天收盘还有46%的上涨空 间。多家机构认为，在国产替代加速背景下，寒武纪有望在新一轮算力投资周期中获得显著市场份额。 传言引发尾盘异动 周四早盘，寒武纪一度跌近3%，随后震荡拉升。午盘，有传言称寒武纪明年将大幅提升产能，目标为填补英伟达退出中国市场的空白份额。消息一出， 寒武纪尾盘放量拉升。 据证券时报报道，此前有媒体报道称，寒武纪计划在2026年将其人工智能（AI）芯片产量提升到目前的三倍，以争夺更多市场份额，并填补英伟达退出 后留下的市场空白。报道还称，寒武纪正准备在2026年交付50万颗AI加速器，其中包括多达30万颗其最先进的思元590与690芯片。 最终，寒武纪收涨2.75%，报1369元/股，总市值5773亿元。截至本周四收盘，寒武纪股价今年以来累计涨幅达108%。 公司深夜紧急辟谣 12月4日深夜 ...

12月4日深夜，"寒武纪科技"公众号发布消息称，公司关注到今日媒体及网络传播的关于公司产品、客户、供应及产能 预测等相关信息，均为误导市场的不实信息。 今日，寒武纪尾盘大幅拉升，最终收涨2.75%，报1369元/股，总市值 5773亿元。 日前，有媒体报道，寒武纪计划在2026年将其AI芯片产量提升到目前的三倍，以争夺更多的市场份额，并填补英伟达退出 后留下的市场空白。 东海证券此前指出，2025年前三季度该公司营收与归母净利润同比大幅增长，主要系以思元590为代表的云端产品大幅放 量所致，后续思元690也有望受益于量价齐升的逻辑。 东海证券表示，目前，以阿里、腾讯、字节等为代表的国内云厂商不断加码AI相关的资本开支，且国产替代的诉求日益深 刻，英伟达CEO黄仁勋近期发言称英伟达在中国市场的份额从95%降至0%，在中美科技摩擦的背景下，国产AI芯片迎来 加速替代期。 机构看好后市空间 虽然寒武纪年内涨幅巨大，但是不少机构仍然看好其股价空间。 12月4日，国际投行Bernstein（伯恩斯坦）将寒武纪的评级上调至跑赢大盘，目标价2000元，较现价还有46%的上涨空 间。 寒武纪紧急辟谣 "寒武纪科技"4日晚间发 ...

Market Overview - The Shanghai Composite Index experienced weak fluctuations, closing down 0.07% at 3913.76 points, while the Shenzhen Component Index fell 0.62% to 12996.61 points, and the ChiNext Index dropped 0.79% to 3059.32 points [1] - The North Exchange 50 Index showed relative strength, rising 0.87% [1] - Total trading volume in the Shanghai, Shenzhen, and North exchanges was 169.05 billion yuan, a decrease of over 20 billion yuan compared to the previous day [1] Banking Sector - The banking sector saw significant gains, with Agricultural Bank of China rising over 2%, marking its 14th consecutive trading day of gains and reaching a historical high [2][3] - Other banks also performed well, with Jiangyin Bank up 3.56% and several major banks like Industrial and Commercial Bank of China and China Construction Bank rising over 1% [3][4] - Analysts from Everbright Securities noted that the banking sector currently offers good value for investment, with stable earnings expected in the upcoming quarterly reports [6] Oil Sector - The oil sector experienced a strong rally, with Keli Co. rising over 12% and several other companies like Junyou Co. and Beiken Energy hitting the daily limit [8][9] - The U.S. Department of Energy announced plans to purchase 1 million barrels of crude oil to replenish its strategic reserves, which may influence market dynamics [10] - International agencies like IEA, EIA, and OPEC have adjusted their forecasts for oil production, indicating a continued oversupply situation [10] AI Chip Sector - Cambrian (688256) saw a significant surge, with its stock price rising over 7% during the day and closing up 4.42%, leading the A-share market in trading volume at nearly 20 billion yuan [12][14] - The company reported a substantial year-on-year revenue increase of 2386% for the first three quarters, driven by the strong performance of its cloud products [14] - Analysts highlighted the growing demand for domestic AI chips amid U.S.-China tech tensions, positioning Cambrian favorably in the market [14]

Market Overview - The Shanghai Composite Index experienced weak fluctuations but managed to hold above 3900 points, closing at 3913.76, down 0.07% [2] - The Shenzhen Component Index fell by 0.62% to 12996.61, while the ChiNext Index decreased by 0.79% to 3059.32 [2] - The Northbound 50 Index rose by 0.87%, with total trading volume in the Shanghai and Shenzhen markets reaching 16905 billion, a decrease of over 2000 billion from the previous day [2] Sector Performance - The coal, non-ferrous metals, brokerage, and semiconductor sectors saw declines, while the oil sector showed strong gains [2] - Notable performers in the oil sector included Keli Co., which rose over 10%, and several others that hit the daily limit [10] - The banking sector also rebounded, with Agricultural Bank of China rising over 2%, marking its 14th consecutive trading day of gains [6][4] Noteworthy Stocks - Cambrian (688256) surged over 7% during the afternoon session, closing up 4.42% with a trading volume of nearly 200 billion, making it the top stock by trading volume in A-shares [14] - The stock price of Cambrian reached a peak of 1468 yuan, surpassing that of Kweichow Moutai during trading [14] - The newly listed Marco Polo on the Shenzhen main board saw a significant increase of 128.8%, closing at 31.46 yuan per share [2] Banking Sector Insights - Analysts from Guangda Securities noted that the banking sector currently offers good value after market adjustments, with stable earnings expected in the upcoming quarterly reports [8] - The sector is characterized by high dividends and low valuations, with a notable preference for Hong Kong-listed banks [8] - Citic Securities indicated that the banking sector is likely to see continued demand for stocks due to their defensive attributes amid rising risk aversion [8] Oil Sector Developments - The oil sector's rise is attributed to the U.S. Department of Energy's plan to purchase 1 million barrels of crude oil to replenish strategic reserves [12] - International agencies have adjusted their forecasts for oil production, indicating a potential oversupply situation in the near term [12] - Despite short-term price fluctuations, the long-term outlook for oil supply and demand remains optimistic, particularly for major oil companies and service providers [12] Cambrian's Financial Performance - Cambrian reported a significant revenue increase of 2386% year-on-year for the first three quarters, totaling 4.607 billion yuan [16] - The net profit attributable to shareholders reached 1.605 billion yuan, driven by the strong performance of its cloud products [16] - The company is positioned to benefit from the growing demand for domestic AI chip solutions amid increasing capital expenditures from major cloud providers [17]

Market Overview - The Shanghai Composite Index experienced weak fluctuations but managed to hold above 3900 points, closing at 3913.76, down 0.07% [1] - The Shenzhen Component Index fell 0.62% to 12996.61, while the ChiNext Index decreased by 0.79% to 3059.32 [1] - The Northbound 50 Index rose by 0.87%, with total trading volume across the three markets reaching 169.05 billion yuan, a decrease of over 20 billion yuan from the previous day [1] Banking Sector Performance - The banking sector showed strength, with Agricultural Bank of China rising over 2%, marking its 14th consecutive trading day of gains [2][4] - Other banks such as Jiangyin Bank and Industrial and Commercial Bank of China also saw increases, with Jiangyin Bank up 3.56% [2][3] Oil Sector Activity - The oil sector saw significant gains, with Keli Co. rising over 12% and several other companies hitting the daily limit [7][8] - The U.S. Department of Energy announced plans to purchase 1 million barrels of crude oil to replenish strategic reserves, which may influence market dynamics [9] Company-Specific Highlights - Cambricon Technologies (688256) experienced a notable surge, with its stock price rising over 7% during the day, closing up 4.42% with a trading volume of 19.8 billion yuan [10] - The company reported a substantial increase in revenue for the first three quarters, achieving 4.607 billion yuan, a year-on-year growth of 2386% [11] - The growth was attributed to the strong performance of its cloud products, particularly the Siyuan 590, amid increasing domestic demand for AI-related technologies [11]

Market Overview - The Shanghai Composite Index experienced weak fluctuations, closing slightly down by 0.07% at 3913.76 points, while the Shenzhen Component Index fell by 0.62% to 12996.61 points, and the ChiNext Index dropped 0.79% to 3059.32 points [1] - The North Stock 50 Index showed relative strength, increasing by 0.87% [1] - Total trading volume in the Shanghai, Shenzhen, and North Stock markets was 169.05 billion yuan, a decrease of over 200 billion yuan compared to the previous day [1] Banking Sector Performance - The banking sector saw significant gains, with notable performances from Jiangyin Bank, which rose by 3.56%, and Agricultural Bank of China, which increased by 2.66%, marking its 14th consecutive day of gains [2][3][4] - Other major banks, including Industrial and Commercial Bank of China, China Construction Bank, and Bank of China, also saw increases of over 1% [3][4] Oil Sector Activity - The oil sector experienced a strong rally, with Keli Co. rising over 12%, and several other companies, including Beiken Energy and Sinopec Oilfield Service, hitting their daily price limits [9][10] - The U.S. Department of Energy announced plans to purchase 1 million barrels of crude oil to replenish its strategic reserves, which may influence market dynamics [11] Semiconductor and AI Sector Highlights - Cambrian (688256) saw a significant surge, with its stock price rising over 7% during the day, closing up 4.42% with a trading volume of 19.8 billion yuan, making it the top traded stock in A-shares [13][15] - Cambrian reported a substantial year-on-year revenue increase of 2386% for the first three quarters, driven by the strong performance of its cloud products [15]