由追究起法律责任的权利各位投资人 各位领导 大家晚上好我是中国电子总统非常感谢大家到晚上这个时间来参加我们电话会然后今天的话 半导体这边也是大场估计也是因为几个上台言有外媒那边报道就是说可能国内未来会对这个部分国有企业国内一些企业要求说 那么前手对H20一个采购然后另外也有些市场团员就讲到国内的这边整个像SIMP这边的良率包括像汉武金那边的一个排单可能有所提升在多重的因素的结果之下今天的整个大盘表现非常好像班内这边的整个指数场服我们有两个多点然后其中像汉武金也是拉板了拉了一个20厘米的一个涨停然后像深谷和奥西科技也分别涨了9个点和5个点整体像新元的话整个市值已经逼近了前高马上就要到新高的阶段了然后奥迅的重回上行中道所以整体的一个国内的AS3Z这边表现其实非常旺盛 所以我们今天也借这个机会然后给各位领导汇报一下我们最近对新股份和奥迪科技的一个程度更新首先是新股份那么公司之前也发布了这个2025年的中期的应急预告那其中非常重要的是公司的一个在手订单其实有一个非常大的一个很显著的提升了就单Q2整体的在手订单是达到了30个亿那单Q2单个季度一个缓增相对于说Q1的一个这个订单增幅是达到6个亿那这个放在过去上市以来这个时 ...

Core Viewpoint - The article discusses the recent tariff adjustments between the US and China, highlighting a temporary compromise in the ongoing tech rivalry, particularly in the semiconductor sector, which presents both short-term benefits and long-term challenges for the industry [2][19]. Policy Framework and Execution Mechanism - The US has reduced tariffs on semiconductor-related imports from a maximum of 145% to 30%, while China has lowered its retaliatory tariffs from 125% to 10%, with a 90-day negotiation buffer until August 12, 2025 [2]. - Sensitive areas like semiconductor equipment and AI chips remain excluded from tariff reductions, and the US continues to enforce technology restrictions through an "entity list" [2][7]. Industry Chain Cost Restructuring and Market Segmentation Short-term Cost Improvement and Supply Chain Recovery - Equipment procurement costs have decreased by approximately 18%-22% for companies like SMIC, facilitating expansion plans for advanced processes [4]. - The utilization rate for automotive chips at SMIC's Tianjin facility has increased from 65% to 82% due to reduced costs for mature process chips [5]. - US companies like Qualcomm and Intel are expected to see a 12%-15% increase in sales in China by the second half of 2025, potentially impacting domestic competitors [6]. Long-term Competition and Structural Challenges - Despite tariff reductions, technology access remains restricted, with delays in SMIC's expansion due to equipment export limitations [7]. - Domestic semiconductor equipment and materials are gaining market share, with the bidding rate for domestic 28nm etching machines increasing from 22% to 37% [9]. - The global semiconductor supply chain is undergoing regional restructuring, with increased compliance costs for companies adapting to new trade rules [10]. Differentiated Impact and Strategic Choices in Sub-sectors Semiconductor Equipment and Materials - The cost of exporting lithography and etching machines to China has decreased, but key technologies like EUV lithography remain restricted [11]. - Domestic companies are focusing on technological breakthroughs to reduce costs in semiconductor materials, with current profit margins significantly lower than international competitors [11]. Chip Design and Manufacturing - The import cost of high-end AI chips has decreased by 24%, but US policies may restrict sales to China [12]. - SMIC and Huahong Semiconductor are enhancing their competitiveness in automotive chips, but face pricing pressures from international competitors [12]. Packaging and Testing - SMIC's advancements in advanced packaging technologies may attract more AI chip orders, but competition from US subsidies for TSMC could divert high-end demand [13]. Corporate Response Strategies and Market Outlook Short-term Strategies - Companies are diversifying their supply chains, with SMIC shifting 20% of its equipment procurement to Japan and Europe [14]. - Inventory management strategies are being implemented to mitigate risks from fluctuating tariff policies [15]. Long-term Strategies - Investments in domestic technology are being prioritized, with significant funding directed towards local semiconductor manufacturers [16]. - Companies like Huawei are expanding their market presence in Southeast Asia and the Middle East, with overseas revenue expected to rise [16]. Future Trends - The tariff adjustments represent a temporary easing in US-China tech tensions, but core issues like technology restrictions and industrial subsidies remain unresolved [19]. - The semiconductor industry is expected to experience short-term cost improvements alongside long-term competitive pressures, with key negotiations in the next 90 days being critical for future stability [19].