Core Viewpoint - The establishment of Wuhan Shengbang Microelectronics Co., Ltd. marks a strategic expansion into the integrated circuit sector by Shengbang Co., Ltd. [1] Group 1: Company Overview - Wuhan Shengbang Microelectronics Co., Ltd. has been registered with a capital of 30 million yuan [1] - The company is wholly owned by Shengbang Co., Ltd. (stock code: 300661) [1] Group 2: Business Scope - The business scope of the new company includes integrated circuit design, chip design and services, manufacturing, and sales [1] - The company will engage in various integrated circuit-related activities, indicating a comprehensive approach to the semiconductor market [1]

北京经济技术开发区管理委员会印发《关于进一步加快建设全域 人工智能之城的实施方案（2026— 2027年）》。其中提到，夯实智能原生基础能力。发挥 集成电路制造能力优势，推动"设计-制造-封测- 算力"一体化协同发展，牵引算力基础设施与高性能智算产业持续迭代。推进数模混合、存算一体等芯 片架构研发创新，延伸场景定义芯片、行业专用芯片、使能软件等产业链条。推动通用与垂类模型协同 发展，加快认知模型向能动模型迭代升级。支持国家级人工智能软硬件测试验证中心和大模型评测中心 建设，夯实"芯模适配"底层能力。积极部署人工智能安全体系，重点突破深度伪造识别、生成内容合规 检测等技术，构建安全可信底座。 ...

Core Insights - The Yangtze River Delta (YRD) region has achieved impressive economic growth, with a total economic output surpassing 34.66 trillion yuan in 2025, an increase of 1.49 trillion yuan from the previous year, and a rise of 7.06 trillion yuan since the beginning of the 14th Five-Year Plan [1][3] - All provinces in the YRD outperformed the national average growth rate of 5.0%, with Shanghai, Jiangsu, Zhejiang, and Anhui recording growth rates of 5.4%, 5.3%, 5.5%, and 5.5% respectively [3][4] Economic Performance - Shanghai's GDP reached 56,708.71 billion yuan, Jiangsu at 142,351.5 billion yuan, Zhejiang at 94,545 billion yuan, and Anhui at 52,989 billion yuan, collectively adding 1.49 trillion yuan compared to the previous year [3][4] - The YRD's GDP share of the national total increased from 24.1% to 24.7% from 2021 to 2025, indicating a significant contribution to national economic growth [3] New Economic Milestones - The YRD welcomed new members to its "trillion GDP city club," with Wenzhou in Zhejiang surpassing the trillion yuan mark at 10,213.9 billion yuan, and Xuzhou in Jiangsu expected to follow suit [4] - A total of 11 cities in the YRD are now part of this club, including major cities like Shanghai, Suzhou, and Hangzhou [4] Sectoral Highlights - In specific sectors, Shanghai's fixed asset investment grew by 4.6%, while Jiangsu's productive service industry contributed 77.4% to the growth of all regulated service industries [6][10] - Zhejiang's per capita disposable income exceeded 70,000 yuan for the first time, and Anhui led the nation in automotive and new energy vehicle production [6][10] Innovation and Technology - The YRD has become a hub for technological innovation, with nearly one-third of China's 26 national advanced manufacturing clusters located in the region [8] - Shanghai's three leading industries—integrated circuits, biomedicine, and artificial intelligence—saw a manufacturing output growth of 9.6% [8] Structural Transformation - Jiangsu's high-tech industry accounted for 52.1% of the regulated industrial output, with high-tech manufacturing value-added growing by 11.9% [10] - Zhejiang's private enterprises and digital economy saw a 7.2% increase in industrial output, contributing significantly to GDP growth [10] Integration and Connectivity - The YRD has made significant progress in infrastructure connectivity, resolving historical issues with inter-provincial "broken roads" and investing over 130 billion yuan in railway construction in 2025 [12][15] - A collaborative innovation system has been established, enhancing resource allocation and optimizing industrial chains across the region [12][15] Global Competitiveness - With all provinces in the YRD now part of the "trillion-dollar foreign trade club," the region is enhancing its global competitiveness through platforms like the Belt and Road Initiative and free trade zones [16] - The YRD's economic output has reached levels comparable to major developed economies, indicating a successful regional integration model [16]

2020-2025年中国集成电路产量统计图 上市企业：纳思达（002180）,韦尔股份（603501）,江波龙（301308）,士兰微（600460）,华润微 （688396）,佰维存储（688525）,兆易创新（603986）,航锦科技（000818）,海光信息（688041）,晶晨 股份（688099） 相关报告：智研咨询发布的《2026-2032年中国半导体集成电路产业竞争现状及发展前景规划报告》 根据国家统计局数据显示：2025年12月中国集成电路产量为481亿块，同比增长12.9%；2025年1-12月中 国集成电路累计产量为4842.8亿块，累计增长10.9%。 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

企查查APP显示，近日，安徽聚合微电子有限公司发生工商变更，新增国家大基金三期旗下华芯鼎新（北京）股权投资基金（有限合伙）等为股东，同时注 册资本由18亿人民币增至50亿人民币。企查查信息显示，该公司成立于2024年，经营范围包括集成电路设计、集成电路芯片及产品制造、集成电路芯片及产 品销售等。 3 90000万元 国有企业 家集成电路产业投资基金三期股份有限公司 99.9001% 9300000万元 | 人员规模 | 100-199人 参保人数 | | 127 (2024年报) | | --- | --- | --- | --- | | 所属地区 | 安徽省合肥市合肥经济技术开发 登记机关 区 | | 合肥市经济开发区市 | | 国标行业 | 集成申路制造（C3973）∨ 英文名 | | Anhui Poly Microele« | | 注册地址 | 中国（安徽）自由贸易试验区合肥片区经济技术开发区块临湖社区锦绣大道61！ | | | | 经营范围 | 一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广; 集成电路芯片设计及服务;电子元器件零售;电子元器件批发;软件开发;机械设备有 硬件及 ...

Core Insights - The Yangtze River Delta region is witnessing a significant increase in the number of cities with a GDP exceeding 1 trillion yuan, reaching a total of 10 by 2025, with Shanghai leading at 5.67 trillion yuan [1][2] - The focus of urban competition is shifting from merely achieving a trillion GDP to enhancing the quality and sustainability of economic growth, emphasizing innovation, industrial structure, and living standards [2][6] Economic Data Summary - Shanghai's GDP is projected to be 5.67 trillion yuan with a growth rate of 5.4% in 2025 [1][3] - Suzhou's GDP is expected to reach 2.77 trillion yuan, while Nanjing is approaching the 2 trillion yuan mark [2][4] - Hangzhou's GDP is estimated at 2.3 trillion yuan, with a growth rate of 5.2% [1][3] - Ningbo's GDP is projected at 1.87 trillion yuan, growing at 4.9% [1][4] - Wenzhou has recently crossed the 1 trillion yuan threshold, achieving a GDP of 1.02 trillion yuan with a growth rate of 6.1% [1][5] Industrial Development Trends - Shanghai is focusing on high-end industrial clusters, with significant growth in advanced manufacturing sectors such as integrated circuits (15.1% growth) and artificial intelligence (13.6% growth) [3][8] - Hangzhou is emphasizing the integration of digital economy with advanced manufacturing, with notable growth in new energy vehicles and industrial robots [4][9] - Suzhou is transitioning from traditional manufacturing to a modern industrial system, targeting sectors like biomedicine and high-end medical devices [8][10] - Wenzhou's economic growth is driven by its manufacturing sector, with strategic emerging industries and high-tech sectors showing substantial growth [5][11] Future Industry Layout - Cities in the Yangtze River Delta are actively planning for future industries, focusing on sectors like quantum technology, synthetic biology, and advanced semiconductor materials [10][11] - The competition among cities is increasingly defined by their ability to innovate and create sustainable industrial ecosystems rather than just GDP figures [6][7] Long-term Competitiveness Factors - Key variables for long-term competitiveness include the originality and resilience of industrial ecosystems, efficiency in innovation and technology transfer, and the ability to attract and retain talent [11][12] - Cities are encouraged to create favorable living conditions and cultural experiences to enhance their attractiveness to talent [11]

Core Viewpoint - The quality of industries is becoming a longer-term competitive variable for the trillion GDP cities in the Yangtze River Delta region, shifting the focus from mere GDP scale to the quality and sustainability of development [1][4]. Economic Data Summary - In 2025, the total number of trillion GDP cities in the Yangtze River Delta will increase to 10, with Shanghai leading at 5.67 trillion yuan and new entrant Wenzhou reaching 1.02 trillion yuan [2][3]. - Expected GDP growth rates for 2025 include: Suzhou at approximately 5.4%, Hangzhou at 5.2%, Nanjing at around 5.2%, and Ningbo at 4.9% [2][3]. Industry Development Trends - The new industrial layout in the Yangtze River Delta is focusing on high-end industrial clusters and the extension of new tracks based on existing manufacturing strengths [3][10]. - Shanghai's GDP growth is supported by new momentum in industries such as integrated circuits and artificial intelligence, with respective growth rates of 15.1% and 13.6% [5]. - Hangzhou's economy is characterized by a strong service sector, contributing 73.8% to its GDP, with significant growth in the digital economy [6][12]. - Wenzhou's manufacturing sector is evolving towards technology-intensive and intelligent production, with strategic emerging industries growing by 14.4% [8][12]. Long-term Competitiveness Factors - Key variables for long-term competitiveness include the originality and resilience of the industrial ecosystem, innovation efficiency, and the ability to attract and retain talent [13]. - The focus is shifting from GDP scale to the health of industries, innovation density, and sustainable growth metrics as new evaluation criteria for urban competitiveness [10][13].

Group 1 - Shenzhen Shikong Storage Technology Co., Ltd. has been established with a registered capital of 50 million yuan [1] - The company's business scope includes integrated circuit chip design and services, semiconductor discrete device manufacturing, and sales [1] - The company is jointly held by Shikong Technology's wholly-owned subsidiary, Shikong Storage (Shenzhen) Semiconductor Co., Ltd., among others [1]

Group 1 - In December, China's imports in USD terms increased by 5.7% year-on-year, exceeding the expected growth of 0.9% and the previous value of 1.9% [1] - China's exports in December rose by 6.6% year-on-year, surpassing the expected growth of 3.1% and the previous value of 5.9% [1] - The trade surplus in December was $114.14 billion, slightly below the expected surplus of $114.35 billion [1] Group 2 - The core driver of the unexpected growth in exports is attributed to product structure upgrades and market diversification, with high-tech product exports expected to grow by 13.2% in 2025 [1] - The export scale of "new three items" (electric vehicles, photovoltaic products, lithium batteries) is close to 1.3 trillion, with exports to ASEAN and Belt and Road countries increasing by 11.2% each [1] - The recovery in import growth is due to improved domestic demand and stabilization of commodity prices, with imports of mechanical and electrical products and integrated circuits increasing by 6% and 7.3% year-on-year, respectively [1] Group 3 - Looking ahead, foreign trade is expected to maintain steady growth in 2026, with exports continuing to shift towards high-tech and high-value-added products [2] - The trade surplus is anticipated to remain within a reasonable range, with foreign trade continuing to exert a positive impact on the economy [2] - In the A-share market, the improved export data in December enhances economic resilience and market risk appetite, benefiting high-tech manufacturing sectors such as new energy, photovoltaics, and high-end equipment [2]

Core Viewpoint - The integrated circuit industry in Xiamen is positioned as a pillar industry, with a target to exceed a total output value of 100 billion yuan by 2025, supported by various government policies and strategic initiatives [6][25]. Industry Development Status and Value Chain Distribution - China's integrated circuit industry has rapidly developed, with production increasing from 261.4 billion units in 2020 to 359.3 billion units in 2021, a year-on-year growth rate of 37.42%. By 2024, production is expected to reach 451.4 billion units, with a compound annual growth rate of approximately 14% over five years [1][3]. - The integrated circuit value chain includes upstream (semiconductor IP, EDA, materials and equipment), midstream (chip design, manufacturing, and testing), and downstream (applications in IoT, consumer electronics, 5G communication, and automotive electronics) [3][4]. Xiamen's Integrated Circuit Industry Policy Environment - The integrated circuit industry is a key component of Xiamen's "4+4+6" modern industrial system, with multiple policies released to support its development, including measures for talent cultivation and technological innovation [6][9]. - Xiamen's industrial policies aim to enhance the industry ecosystem, with a focus on core technology research and development, and have resulted in a steady increase in the number of graduates and high-end talents supported by the government [24][25]. Current Status of Xiamen's Integrated Circuit Industry Chain - The industry chain in Xiamen is primarily concentrated in the midstream, with over 23,000 design companies and fewer than 10 testing companies. The application sectors, particularly IoT and communication, have the highest number of enterprises [10][19]. - The total output value of Xiamen's integrated circuit industry is projected to reach 40 billion yuan by 2024, reflecting a growth rate of 17.99% [19]. Trends in New Registrations and Talent Development - The number of newly registered integrated circuit design and manufacturing companies in Xiamen has been declining, with only 6 new registrations in 2025, indicating a trend towards consolidation and specialization among existing firms [20]. - The number of graduates and high-end talents supported by the integrated circuit development fund has increased from 902 in 2022 to 1,345 in 2024, highlighting the government's commitment to talent development in this sector [24]. Future Prospects and Planning for Xiamen's Integrated Circuit Industry - Xiamen aims to establish itself as a global hub for integrated circuit research and manufacturing by 2030, with significant investments planned for high-end chip manufacturing facilities [25][28]. - The city plans to leverage cross-strait cooperation and innovation platforms to enhance the competitiveness and sustainability of its integrated circuit industry [25][28].