华安证券近日发布半导体研究报告：根据国际电子商情综合报道，TI将在8月启动新一 波涨价，幅度超过6月，重点涉及工控类、车载类、以及算力相关芯片产品，覆盖LDO(低压 差线性稳压器)、DC-DC(直流-直流转换器)、数字隔离、隔离驱动等品类。TI本轮涨价聚焦 三大领域，其中在工业控制产品提价幅度较为迅猛，工业控制产品当中的超过40%的工控类 芯片涨价，代表性产品如工厂自动化用16位ADC芯片单价从3.2美元涨至4.1美元（涨幅为 28%左右）。 以下为研究报告摘要： 主要观点： TI通过差异化定价强化工业与汽车等高毛利市场布局，但在消费电子等容易被国产芯片 替代的领域则采取较为温和的涨价幅度，凸显了TI目前在特定产品领域的话语权。 此前中国反制美国关税的"原产地认定"新规（以流片地为准），直接推高了美系厂商成 本，并催化模拟芯片板块走强，成为半导体行业中热门赛道，板块涨幅与中美博弈紧密联系 变为当时板块的主要标签。但随着中美的谈判逐渐带来缓和情绪，模拟芯片板块交易也逐渐 回归基本面聚焦。目前此次TI涨价料号范围超过此前6月涨价范围和幅度。将进一步带来模 拟芯片在国产多领域的国产替代。 以消费电子为例，消费电子从 ...

半导体ETF紧密跟踪国证半导体芯片指数，为反映沪深北交易所芯片产业相关上市公司的市场表现，丰 富指数化投资工具，编制国证半导体芯片指数。 数据显示，截至2025年7月31日，国证半导体芯片指数(980017)前十大权重股分别为中芯国际(688981)、 寒武纪(688256)、海光信息(688041)、北方华创(002371)、豪威集团(603501)、中微公司(688012)、澜起 科技(688008)、兆易创新(603986)、长电科技(600584)、紫光国微(002049)，前十大权重股合计占比 67.23%。 消息面上，德州仪器（TI）启动了一轮大规模价格调整，涉及超过6万款产品型号，较6月调整的3300款 激增近20倍。此次涨价覆盖全系产品，整体价格区间上移10%-30%，其中超四成产品涨幅超过30%。工 业控制和汽车电子领域受影响最大，数字隔离器、隔离驱动芯片等关键器件价格普遍上涨25%以上。消 费电子和通信设备则温和调价，涨幅在5%-15%。 机构指出，模拟芯片目前处于一个国产替代的中期阶段，国内厂商的市场份额在40%，海外大厂像德州 仪器的市场份额在60%。模拟芯片整体技术迭代比较慢，对芯片 ...

Core Viewpoint - Texas Instruments (TI) has initiated a significant price increase on August 4, marking the largest adjustment in its history, affecting over 60,000 part numbers, which is nearly 20 times the 3,300 products impacted in June [1] Price Increase Details - The price adjustment, effective from August 4, shows an overall increase concentrated between 10%-30%, with 41.3% of the affected part numbers experiencing increases exceeding 30%. Key components in industrial control and automotive electronics are particularly impacted, with some older LDO products seeing price hikes of up to 30% [2] Classification Analysis - The price increase exhibits three main characteristics: 1. Industrial control products, which account for over 40% of the adjustments, are a primary focus, with specific components like a 16-bit ADC chip rising from $3.2 to $4.1, a 28% increase [3] 2. Automotive electronics are a major contributor to the price hikes, with automotive-grade products generally seeing higher increases than consumer-grade, such as power management ICs for in-car entertainment systems rising 18%-25% [3] 3. Consumer electronics and communication devices are also affected, with power management chips for personal electronics experiencing increases of 5%-15% [3] Background and Impact - Several factors contribute to this price increase, including cost pressures due to TI's lower gross margin in China compared to global averages and rising raw material costs. The recent recovery in demand for core markets like industrial and personal electronics has provided a window for this price adjustment [5] - TI is shifting from a strategy focused on gaining market share through low prices to one aimed at maintaining profit margins, which may impact market share in the short term but allows for opportunities for domestic alternatives [6] - While the spot market has not shown significant volatility, this price adjustment may trigger a chain reaction, prompting downstream companies to accelerate inventory digestion and adjust supply chains, with other international manufacturers potentially following suit [6]