证券日报网讯1月6日，北京君正（300223）在互动平台回答投资者提问时表示，公司NPU技术应用于公 司计算芯片产品中，目前主要面向AIOT和智能视觉等市场。 ...

北京君正在互动平台表示，公司部分存储芯片产品和计算芯片进行了价格调整，部分产品在四季度已执 行新价格，公司后续会综合考虑市场供应和生产成本等因素进行产品价格调整，目前不同区域和客户调 价情况有所不同。 ...

今年以来通信ETF（515880）在A股表现优异，在AI发展叙事的助力下，截至写稿，年内涨幅超110%，居全市场ETF涨幅第一。 消息面，海外云厂商在AI领域的资本开支及指引仍保持乐观，Oracle的财报资本开支远超彭博一致预期，并大幅上修FY2026的资本开支。算力板块受催化， 光模块占比超50%的通信ETF（515880）涨超2%。 海外云厂商资本开支乐观，可持续关注AI主线 海外云厂商在AI领域的资本开支及指引仍保持乐观，我们有理由相信明年的资本开支增长仍将得以延续。我们最新一次从科技巨头处听到资本开支的消息 是上周Oracle的财报，其120.3亿美元的资本开支远超彭博一致预期（82.5亿美元），并大幅上修FY2026的资本开支至500亿美元。 在这一基准情形（资本开支延续增长）下，看好通信ETF（515880）等深度参与海外算力产业链的A股相关标的（它们大都处于供应链的上游），该产品的 光模块含量超过54%，服务器含量超过19%，叠加光纤、铜连接等成分，核心环节成分占比超过80%。 此外，我们继续长期看好国产替代的广阔前景。一方面，尽管近期美国批准NVIDIA H200及同级AMD MI、Intel ...

Group 1 - The U.S. is seeking agreements with eight allied nations to strengthen the supply chain for critical minerals and computing chips necessary for artificial intelligence technology [1][2] - This initiative continues efforts from the Trump administration aimed at restructuring critical mineral supply chains to reduce foreign dependency and compete in AI and green industries [1][2] - The meeting to kick off this initiative is scheduled for December 12 at the White House, involving officials from the U.S., Japan, South Korea, Singapore, the Netherlands, the UK, Israel, the UAE, and Australia [1][2] Group 2 - The U.S. is forming a "critical minerals trading club" to facilitate the extraction and processing trade of critical minerals among Western nations, with the ultimate goal of leading the AI competition [2] - Previous initiatives included the U.S. Department of State's "Energy Resources Governance Initiative" and the "Mineral Security Partnership" (MSP) under the Biden administration, focusing on securing supply chains for minerals like lithium and cobalt [2] - The current plan emphasizes collaboration with producing countries, differing from the previous administration's broader focus [2][3] Group 3 - The new initiative will cover all levels of AI technology, unlike earlier plans that were limited to critical minerals [3] - The U.S. aims to adopt a "U.S.-centric" strategy in AI collaboration with trusted allies, rather than a reactive approach to China [3] - China currently dominates the global rare earth and permanent magnet material refining capacity, holding over 90% of the market, while the second-largest producer, Malaysia, accounts for only 4% [3]

Core Insights - Black Sesame Technology and Zhongji Xuchuang's subsidiary Jiangsu Zhichi Zhiyuan have formed a strategic partnership to leverage their core technologies and resources in various fields, including optical communication, automotive assisted driving, and advanced packaging technology [1][2] - The collaboration aims to integrate "chip + optical module" technologies to address industry pain points and seize opportunities in the next generation of smart industries, providing innovative solutions for the global automotive and robotics sectors [1][2] Company Collaboration - The partnership will focus on the innovative application of optical communication modules in automotive and embodied intelligent terminals, exploring scenarios for optoelectronic co-packaging in next-generation computing platforms to meet future demands for lower latency and higher data transmission [1] - Both companies will actively promote capital cooperation along the upstream and downstream industrial chains, facilitating resource integration and investment linkage to streamline the entire process from technology research and development to industrial implementation [1] Industry Trends - This strategic collaboration signifies a new trend of "cross-domain integration" in the smart industry, highlighting the importance of collaborative innovation between major enterprises [2] - The partnership is expected to create new growth opportunities for both companies while generating additional value for the industry, propelling the global smart industry towards a higher quality development stage [2]

Group 1 - The company does not have standalone computing power chips, indicating a focus on integrated solutions [1] - The company's NPU technology is applied within its computing chip products, highlighting its strategic direction in chip development [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for overseas listing applications, specifically requesting Beijing Junzheng to clarify its business model and matters related to large models [1] Group 1: Regulatory Requirements - The CSRC has requested Beijing Junzheng to provide a detailed explanation of the share pledge situation of its controlling shareholder and actual controller, assessing whether it could lead to changes in company control before and after the issuance [1] - The company must clarify whether any domestic entities, after tracing through shareholder Wuyuefeng Investment, are prohibited from holding shares under relevant laws and regulations [1] Group 2: Business Operations - The company is required to describe its business model and specifics regarding large models in simple language, including whether it has completed the necessary large model filings [1] - The company must explain the business scope of its subsidiaries, which includes "asset management, investment management, and investment consulting" [1] Group 3: Fundraising and Use of Proceeds - The company needs to provide details on the expected fundraising amounts before and after the exercise of the over-allotment option, including the calculation methods and specific uses of the raised funds [1] - It is necessary to specify the proportion of funds allocated to domestic and overseas investment projects, along with compliance with overseas investment approvals and permits [1] Group 4: Digital Products and Information Security - The company must clarify whether it or its subsidiaries are involved in the development and operation of websites, mini-programs, apps, and public accounts, and whether they provide information content to third parties [1] - The company is required to detail the types of information content provided and the security measures in place for protecting this information, as well as how data is collected and stored [1] Group 5: Company Overview - Beijing Junzheng is identified as a leading global provider of "computing + storage + simulation" chips, catering to markets such as automotive electronics, industrial medical, AIoT, and intelligent security with high-performance, low-power computing chips, high-quality, reliable storage chips, and a variety of high-specification analog products [1]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested Beijing Junzheng to provide supplementary explanations regarding its business model and matters related to large models as part of its overseas listing application [1][2] - Beijing Junzheng has submitted its listing application to the Hong Kong Stock Exchange, with Guotai Junan International as its sole sponsor [1] - The CSRC has outlined specific areas for Beijing Junzheng to clarify, including the potential impact of share pledges by its controlling shareholder on the company's control and compliance with regulations [1][2] Group 2 - The company is required to explain its business model and the status of any relevant large model filings in a clear and understandable manner [2] - Beijing Junzheng must detail its subsidiaries' business scope, including asset management and investment consulting, and confirm whether it has obtained the necessary qualifications for financial-related activities [2] - The company needs to disclose the expected fundraising amounts before and after the exercise of the over-allotment option, along with the specific uses of the raised funds and compliance with overseas investment approval processes [2] Group 3 - According to its prospectus, Beijing Junzheng is a leading global provider of "computing + storage + simulation" chips, catering to markets such as automotive electronics, industrial medical, AIoT, and smart security [3]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested Beijing Junzheng to provide supplementary explanations regarding its business model and matters related to large models as part of its overseas listing application [1][2] - Beijing Junzheng submitted its listing application to the Hong Kong Stock Exchange on September 15, with Guotai Junan International as its sole sponsor [1] - The CSRC has outlined specific areas for clarification, including the potential impact of the controlling shareholder's debt repayment ability on the company's control and whether there are any legal prohibitions on shareholding by the shareholder Wuyuefeng Investment [1][2] Group 2 - The company is required to explain its business model and the status of any relevant large model filings in a clear and understandable manner [2] - It must detail the scope of operations of its subsidiaries, including asset management and investment consulting, and confirm whether it has obtained the necessary qualifications for financial-related businesses [2] - The company needs to clarify the expected fundraising amounts before and after the exercise of the over-allotment option, the specific uses of the raised funds, and the compliance status of overseas investment projects [2] Group 3 - Beijing Junzheng is recognized as a global leader in "computing + storage + simulation" chip provision, catering to markets such as automotive electronics, industrial medical, AIoT, and smart security [3]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested Beijing Junzheng to provide supplementary explanations regarding its business model and matters related to large models as part of its overseas listing application [1][2] - Beijing Junzheng submitted its listing application to the Hong Kong Stock Exchange on September 15, with Guotai Junan International as its sole sponsor [1] - The CSRC has outlined specific areas for clarification, including the potential impact of the controlling shareholder's debt repayment ability on the company's control and whether there are any legal prohibitions on shareholding by the shareholder Wuyuefeng Investment [1][2] Group 2 - The company is required to explain its business model and the status of any relevant large model filings in a clear and understandable manner [2] - It must detail the scope of operations of its subsidiaries, including asset management and investment consulting, and confirm whether it has obtained the necessary qualifications for financial-related businesses [2] - The company needs to provide information on the expected fundraising amounts before and after the exercise of the over-allotment option, including the specific calculation methods and intended use of the raised funds [2] Group 3 - Beijing Junzheng is a leading global provider of "computing + storage + simulation" chips, catering to markets such as automotive electronics, industrial medical, AIoT, and smart security [3]