点击 关注我们 报告发布日期：2025年8月15日 报告名称:《 晶晨股份（688099.SH）二季度出货量创历史新高，在手及预期订单充裕积极备货 》 分析师：胡剑 S0980521080001/胡慧 S0980521080002/ 叶 子 S0980522100003 / 张大为 S0980524100002/ 詹浏洋 S0980524060001 / 李书颖 S0980122080309 联系人：连欣然 完整报告请扫描下方二维码 核心观点 二季度营收同比增长9.94%，归母净利润同比增长31.46% 公司发布2025年中报，实现营收33.30亿元(YoY +10.42%)，实现归母净利润4.97亿元(+37.12%)。其中，公司单 二季度实现营收18.01亿元(YoY +9.94%，QoQ +17.72%)，实现归母净利润3.08亿元(YoY +31.46%，QoQ +63.90%)。1H25公司因股权激励确认的股份支付费用为0.17亿元， 考虑相关税费影响对净利润影响为0.23亿 元，剔除股份支付费用影响后1H25归母净利润为5.20亿元。 订单充裕积极增加备货，三季度同比有望进一步增长 公司二季度综合 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the ChiNext 50 Index ETF (588870), which saw a more than 2% increase during the trading session, with a current increase of over 1% and a trading volume exceeding 51 million CNY, leading in turnover rate among similar products [1] - The ChiNext 50 Index ETF has experienced a year-to-date share growth rate of over 18%, continuing to outperform its peers [1] - The underlying index components of the ChiNext 50 Index ETF showed mixed performance, with major stocks like Cambricon Technologies rising over 11%, surpassing a market capitalization of 400 billion CNY [2][3] Group 2 - The semiconductor industry is experiencing a positive trend, with companies like SMIC and Huahong Semiconductor highlighting the high demand for analog ICs and the acceleration of domestic replacements during their Q2 earnings calls [4] - The semiconductor sector is expected to maintain optimistic growth in 2025, driven by AI and supported by policies addressing supply chain risks and promoting domestic alternatives [5] - Domestic AI chip companies are focusing on innovations in interconnect technology and large-scale system solutions, aiming to enhance their market share through improved product capabilities [6] Group 3 - The ChiNext 50 Index ETF (588870) tracks the top 50 stocks on the ChiNext board, covering key sectors such as chips, pharmaceuticals, power equipment, and computers, representing leading companies in these fields [7] - The management fee for the ChiNext 50 Index ETF is as low as 0.15%, and the custody fee is as low as 0.05%, making it one of the lowest in the market [8]

远川投资评论 . 看更好的资管内容 以下文章来源于远川投资评论 ，作者沈晖 来源|远川投资评论 作者|沈晖 编辑|张婕妤 2024年12月13日，中欧基金科技研究小组做了一个少有人注意到的预判： 「当前国产大模型能力逐步追赶到GPT-4的水平，明年达到GPT-o1水平。 」 一个月后预言成真，DeepSeek骤然问世，一场暴烈的AI变革席卷而来，中欧科技战队的基金经理们原本清闲的春节假期也忙碌了起来。 刘伟伟闲暇时一边跟踪着国内外关于AI的最新信息，一边跟公司的研究员深入探讨，冯炉丹思考AI能够提效的场景，赶忙写下数个Prompt。中欧科技战队 自发进入「加班」状态，从美股算力暴跌聊到Scaling Law是否失效，从DeepSeek的意义探讨聊到节后对下游硬件与应用的配置策略。 「AI行业变化太快了，变化太多了。」刘伟伟感叹，「我做投资那么多年，第一次遇到变化那么快，需要每天学习巨量新知识的行业。」与此同时，AI产 业的许多变化源头在北美，供应链又分布在整个亚太，这就对投研的全球性、时效性提出了更加前所未有的挑战。 宇树机器人回旋踢，Figure AI机器人干家务，Manus引爆智能体新纪元。智能涌现的速度 ...