截至11月25日收盘，上证指数涨0.87%、创业板指涨1.77%，成长风格板块集体回暖，市场情绪向好，为半导体板块提供了环境支撑。光模块、光 芯片等科技细分领涨，创成长指数涨2.76%，半导体作为科技成长核心方向，受益于板块情绪联动，短期调整压力被市场暖意对冲。 ETF方面，科创100ETF华夏(588800)开盘后从1.23附近逐步震荡上行，早盘冲高至日内高点，随后小幅回落并进入横盘整理，最终收涨1.31%；早 盘冲高阶段成交量明显放大，反映资金主动进场推动上涨；午后震荡时成交量逐步缩量，反映增量资金有所乏力，且板块内部分化加大。 科创半导体ETF(588170)今日分时呈现"冲高回落+震荡整理" 节奏：早盘冲高至1.361(日内高点)，但随后缺乏持续买盘跟进，价格逐步回落；午后 缩量震荡，尾盘小幅回升，最终收涨0.37%；早盘冲高时放量，后续缩量，反映短期资金对当前价位存在一定分歧，未形成一致做多共识。 从均线系统来看，科创100ETF华夏、科创半导体ETF今日收盘股价均处于60日均线下方，股价在其下方意味着中期仍处于弱势区间，短期反弹的 空间会受到中期趋势的制约。这也一定程度上解释了今日冲高后回落的震荡 ...

消息面上，当地时间周一（11月24日），美股热门科技股普遍上涨，特斯拉、谷歌A涨超6%，Meta涨 超3%，亚马逊涨超2%，苹果涨超1%，微软涨0.35%。AI"大基建"持续进行，亚马逊宣布，将投资高达 500亿美元，用于扩展亚马逊云科技面向美国政府客户的AI和超级计算能力，该投资将于2026年启动。 华金证券表示，华为正式发布《智能世界2035》与《全球数智化指数2025》报告，通用人工智能将成为 未来十年最具变革性的技术驱动力，到2035年全社会算力总量将实现高达 10 万倍的增长。看好人工智 能推动半导体周期向上，从设计、制造到封装测试以及上游设备材料端，建议关注半导体全产业链。 截至10:48，上证科创板100指数强势上涨2.65%，成分股凌云光上涨11.72%，源杰科技上涨10.23%，盛 科通信上涨7.99%，金盘科技，东芯股份等个股跟涨。科创100ETF华夏（588800）上涨2.63%，最新报 价1.25元。 截至10:49，上证科创板半导体材料设备主题指数强势上涨1.34%，成分股神工股份上涨7.48%，欧莱新 材上涨3.60%，和林微纳上涨3.54%，华峰测控，华海诚科等个股跟涨。科创半导 ...

截至14:22，上证科创板100指数强势上涨1.76%，成分股铂力特上涨8.12%，峰岹科技上涨6.61%，莱斯 信息上涨6.36%，凌云光，虹软科技等个股跟涨。科创100ETF华夏（588800）上涨1.66%，最新报价 1.22元。 科创100ETF华夏（588800）紧密跟踪的科创100指数，是科创板第一只，也是唯一一只中盘风格指数， 聚焦高成长科创黑马，重点覆盖半导体、医药、新能源三大行业。（场外联接A类：020291/C类： 020292）。 公开信息显示，科创半导体ETF（588170）及其联接基金（A类：024417；C类：024418）跟踪上证科 创板半导体材料设备主题指数，囊括科创板中半导体设备（61%）和半导体材料（23%）细分领域的硬 科技公司。 半导体设备和材料行业是重要的国产替代领域，具备国产化率较低、国产替代天花板较高 属性，受益于人工智能革命下的半导体需求，扩张、科技重组并购浪潮、光刻机技术进展。 （文章来源：每日经济新闻） 截至14:24，上证科创板半导体材料设备主题指数强势上涨1.36%，成分股神工股份上涨7.54%，天岳先 进上涨5.09%，晶升股份上涨4.31%，安集科技 ...

截至2025年11月21日 10点23分，上证科创板半导体材料设备主题指数下跌3.07%。成分股方面，神 工股份领跌9.20%，有研硅下跌5.74%，京仪装备下跌4.26%，中微公司下跌4.21%，拓荆科技下跌 4.14%。科创半导体ETF（588170）下跌3.10%，最新报价1.34元。 流动性方面，科创半导体ETF（588170）盘中换手5.19%，成交1.68亿元。拉长时间看，截至11月 20日，科创半导体ETF（588170）近1月日均成交4.52亿元，领先同类。规模方面，科创半导体ETF （588170）近3月规模增长29.06亿元，实现显著增长。 美东时间周四（11月20日），美股市场上演过山车式行情，尽管英伟达强劲财报一度显著提振了市 场情绪，纳指一度涨超2%，但随着估值担忧卷土重来，以及降息预期进一步受挫，三大指数悉数收 跌，纳指跌逾2%。 招商证券表示，往后看，市场有望继续呈现科技和顺周期的轮动。海外方面，市场风险偏好的修复 将取决于因政府关门而积压的美国经济数据以及美联储等的表态，目前市场需要一个信号来降低预期的 不确定性。 相关ETF：公开信息显示， 科创半导体ETF（588170）及 ...

截至2025年11月20日 11:04，上证科创板半导体材料设备主题指数下跌1.60%。成分股方面涨跌互现， 天岳先进领涨7.35%，有研硅上涨1.44%，和林微纳上涨1.36%；神工股份领跌4.89%，艾森股份下跌 3.98%，中微公司下跌3.89%。科创半导体ETF（588170）下跌1.69%，最新报价1.39元。 流动性方面，科创半导体ETF（588170）盘中换手7.5%，成交2.46亿元。拉长时间看，截至11月19日， 科创半导体ETF（588170）近1月日均成交4.55亿元，领先同类。 规模方面，科创半导体ETF（588170）近3月规模增长28.85亿元，实现显著增长。 招商证券指出，进入2025年三季度以来存储行业全面进入加速上行周期，不同于此前供给侧减产或退出 带来的价格短暂上行，本轮存储行业上行周期主要系AI时代下存储需求爆发推动，同时供给侧产能开 出有限，因此行业供需缺口持续扩大，价格加速上涨。在此背景下，海外存储原厂盈利能力持续提升， 国内部分存储模组公司快速扭亏为盈，2025年下半年利润预计将加速释放，利基存储芯片和存储产业链 配套公司亦将持续受益于存储涨价浪潮。 相关ETF：公 ...

截至11月19日14:21，上证科创板半导体材料设备主题指数下跌0.72%。成分股方面涨跌互现，龙图光罩 领涨3.96%，艾森股份上涨3.67%，芯源微上涨2.06%；天岳先进领跌3.61%，欧莱新材下跌2.98%，拓荆 科技下跌2.97%。科创半导体ETF（588170）下跌0.70% 展望后市，国投证券认为，10月至今科技内部投资已经明显分化，加剧有基本面支撑的强势品种抱团与 相对低位有产业催化品种的轮动倾斜。从历史日历效应角度，从2012年至今的平均表现看，科技板块跨 年超额特征比较明确，意味着科技风格容易在四季度相对跑输，而跨年期间及次年初表现较好。 相关ETF：公开信息显示， 科创半导体ETF（588170）及其联接基金（A类：024417；C类：024418） 跟踪上证科创板半导体材料设备主题指数，囊括科创板中半导体设备（61%）和半导体材料（23%）细 分领域的硬科技公司。 半导体设备和材料行业是重要的国产替代领域，具备国产化率较低、国产替代 天花板较高属性，受益于人工智能革命下的半导体需求，扩张、科技重组并购浪潮、光刻机技术进展。 半导体材料ETF（562590）及其联接基金（A类：02035 ...

Core Viewpoint - The semiconductor materials and equipment sector in China's Sci-Tech Innovation Board is experiencing fluctuations, with notable movements in specific stocks and the launch of a new IPO by a domestic GPU company, indicating ongoing developments and investment opportunities in the industry [1][2]. Group 1: Market Performance - As of November 17, 2025, the Sci-Tech Innovation Board semiconductor materials and equipment theme index decreased by 0.77% [1]. - Among the constituent stocks, ShenGong Co. led with a rise of 5.43%, while TuoJing Technology fell by 4.96% [1]. - The Sci-Tech Semiconductor ETF (588170) saw a decline of 0.91%, with a latest price of 1.42 yuan and a trading volume of 1.86 billion yuan, reflecting a turnover rate of 5.5% [1]. Group 2: IPO and Fundraising - On November 13, domestic full-function GPU company MoEr Thread officially disclosed its prospectus, initiating the IPO process on the Sci-Tech Innovation Board [1]. - The company plans to publicly issue 70 million shares, aiming to raise 8 billion yuan for the development of next-generation AI training and inference chips, graphics chips, and AI SoC chips [1]. Group 3: Industry Trends - According to Fangzheng Securities, as Moore's Law slows and domestic lithography technology faces limitations, local manufacturers are expected to innovate through new structures, processes, and materials to enhance chip performance [2]. - Domestic equipment manufacturers possess unique advantages such as effective service, customization capabilities, and close alignment with customer needs, which may accelerate the domestic replacement of advanced nodes [2]. - The semiconductor materials and equipment sector is identified as a key area for domestic substitution, benefiting from low domestic replacement rates and high ceilings for domestic alternatives, driven by the AI revolution and technological advancements [2].

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Semiconductor Materials and Equipment Theme Index decreased by 0.81% as of November 17, 2025 [1] - Among the constituent stocks, China Shipbuilding Industry Corporation led with a rise of 5.71%, while Tuojing Technology fell by 5.69% [1] - The Sci-Tech Semiconductor ETF (588170) experienced a decline of 0.91% with an intraday turnover rate of 7.48% and a transaction volume of 252 million yuan [1] Group 2 - The latest scale of the Sci-Tech Semiconductor ETF (588170) reached 3.365 billion yuan [2] - Huawei is set to release groundbreaking AI technology on November 21, which could increase the utilization rate of computing resources from the industry average of 30%-40% to 70% [2] - Huajin Securities anticipates that general artificial intelligence will be a transformative technological driver over the next decade, with total computing power expected to grow by up to 100,000 times by 2035 [2] Group 3 - The Semiconductor Materials ETF (562590) and its linked funds focus on semiconductor equipment (61%) and semiconductor materials (21%), emphasizing the upstream semiconductor sector [3]

Group 1 - The Shanghai Stock Exchange's Sci-Tech Innovation Board semiconductor materials and equipment index decreased by 1.10%, with mixed performance among constituent stocks [1] - Leading stocks included Huahai Chengke up by 1.63%, SMIC up by 1.23%, and Tuojing Technology up by 1.01%; while Hushi Silicon Industry fell by 4.77%, Youyan Silicon down by 4.72%, and Jinhong Gas down by 4.24% [1] - The Sci-Tech Innovation Semiconductor ETF (588170) declined by 0.95% [1] Group 2 - The 22nd China International Semiconductor Expo (ICChina2025) will be held from November 23 to 25, focusing on the theme "Gathering Forces for Future Development" [1] - AI servers require higher power supply architectures due to high power consumption, necessitating improvements in efficiency and power density across all supply system components [1] - Third-generation semiconductor materials like SiC/GaN are being promoted for AI data center applications due to their ability to operate at higher temperatures and voltages, reducing energy consumption and costs [1] - Dongfang Securities anticipates broader application of SiC/GaN in response to the increasing demand for high-power supply in AI servers and data centers [1] Group 3 - The Sci-Tech Innovation Semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (61%) and materials (23%), representing a significant area for domestic substitution [2] - The semiconductor equipment and materials industry is crucial for domestic replacement, characterized by low domestic substitution rates and high potential ceilings [2] - The semiconductor materials ETF (562590) also emphasizes semiconductor equipment (61%) and materials (21%), focusing on the upstream semiconductor sector [2]

Group 1 - The core viewpoint of the articles highlights a strong performance in the semiconductor sector, particularly with the rise of the Sci-Tech Innovation Board Semiconductor Materials and Equipment Index, which increased by 2.03% [1] - Notable individual stock performances include ShenGong Co., which surged by 20.00%, and Jingyi Equipment, which rose by 9.09% [1] - The Sci-Tech Semiconductor ETF (588170) also showed significant growth, with a 2.05% increase and a trading volume of 3.38 billion yuan, indicating strong liquidity [1] Group 2 - The semiconductor industry is identified as a crucial area for domestic substitution, with a low domestic replacement rate and high potential for growth, driven by the AI revolution and advancements in technology [2] - The Sci-Tech Semiconductor ETF (588170) and its linked funds focus on semiconductor equipment (61%) and materials (23%), reflecting the industry's emphasis on upstream sectors [2] - The upcoming CES 2026 will showcase Samsung's LPDDR6 memory, the first of its kind globally, which boasts an 11.5% increase in transmission speed compared to its predecessor, LPDDR5X [1]