【导读】 A 股站上 3800 点 ，多家基金公司研判 中国基金报记者 曹雯璟 3800 点！说来就来！ 8 月 22 日，三大指数全天震荡上行，截至收盘，沪指涨 1.45% ，突破 3800 点，再创新 高。深证成指涨 2.07% ，创业板指涨 3.36% 。盘面上，半导体、券商、算力板块大涨。全 市场成交金额逾 2.5 万亿元。 A 股站上 3800 点 ，是牛市起点还是阶段性反弹？后市怎么走？哪些机会值得关注？多家基 金公司表示，多因素助力 A 股站上 3800 点。 A 股中长期或仍将延续整体向好格局，关注半 导体、大金融、周期、消费等方向。 多因素助力 A 股站上 3800 点 8 月 22 日， A 股市场放量上涨，沪指突破 3800 点，创 10 年新高。信达澳亚基金高级市 场研究分析师刘翀指出， 多因素助力 A 股站上 3800 点 。从消息面来看，近期科技板块受 到密集利好催化，比如国产首台 28 纳米关键尺寸电子束量测量产设备成功出机、首台商用电 子束光刻机 " 羲之 " 进入应用测试，为国产芯片研发提供技术支撑。此外， DeepSeek 发 布 V3.1 版本，推动国产算力芯片与开源模型 ...

Market Performance - The main board led the gains with notable increases in stocks such as Fangzheng Technology (+10.07%), Dazhihui (+10.03%), and Kesen Technology (+10.03%) [1] - The ChiNext board saw significant growth with Huazhi Shumei (+20.02%), Huace Film & TV (+20.00%), and Ruijie Network (+20.00%) [1] - The Sci-Tech Innovation Board also experienced a surge with Tiancheng Technology (+20.00%), Dekeli (+20.00%), and Nanya New Materials (+20.00%) [1] - Active sub-industries included SW Communication Network Equipment and Devices (+6.77%) and SW Film and Animation Production (+5.90%) [1] Domestic News - Yangjie Technology recently launched a series of P60V MOSFET products for automotive electronics, featuring lower conduction resistance and gate charge, which significantly reduces conduction and switching losses [1] - Chengdu Tuowei has independently developed an 8.6 generation metal mask plate, with the first product delivered to leading industry clients, designed for high-end OLED TVs and other large display products [1] - The first domestically produced 28nm critical dimension electron beam measurement device was successfully produced in Wuxi, marking a significant achievement in self-research [1] - Tencent's president Liu Chiping stated that the company has sufficient AI GPU chips to meet future model training needs without further procurement from Nvidia [1] Company Announcements - RichChip Microelectronics reported a total operating income of 2.046 billion yuan for H1 2025, a year-on-year increase of 63.85%, with a net profit of 531 million yuan, up 190.61% [2] - Hongsoft Technology announced total operating income of 410 million yuan for H1 2025, a 7.73% year-on-year increase, with a net profit of 89 million yuan, up 44.06% [2] - Huatian Technology reported total operating income of 7.78 billion yuan for H1 2025, a 15.81% year-on-year increase, with a net profit of 226 million yuan, up 1.68% [2] - Sand Technology announced total operating income of 249 million yuan for H1 2025, a 33.44% year-on-year increase, with a net profit of 61 million yuan, up 45.74% [2] Overseas News - Global DRAM manufacturers have begun to reduce DDR4 production capacity, leading to a significant supply shortage in the second half of the year, with product prices continuing to rise [2] - Kanto Chemical announced an explosion and fire at its nitrogen trifluoride production facility, resulting in a complete production halt for at least six months [2] - The Indian government approved four additional semiconductor projects under its semiconductor initiative, increasing the total number of projects to ten, involving an investment of approximately 46 billion rupees [2] - JSC plans to expand its 8-inch wafer foundry capacity in Japan by 1.5 times to meet the demand for power semiconductors and logic ICs in automotive and industrial applications [2]