资料显示，澜起科技是一家全球领先的无晶圆厂集成电路设计公司，专注于为云计算及AI基础设施提供创新、可靠且高能效的互连解决方案。根据弗若斯 特沙利文的资料，按收入计算，公司于2024年位居全球最大的内存互连芯片供应商，市场份额达36.8%。 2月9日，内存接口芯片龙头澜起科技在港交所挂牌上市。 业绩方面，公司近日发布的公告显示，预计2025年度净利润将达到21.5亿元至23.5亿元人民币，较上年同期增长52.29%至66.46%。扣除非经常性损益后的净 利润预计为19.2亿元至21.2亿元人民币，增幅最高接近70%。 | | 分时 多日 1分 5分 15分 30分 60分 日 周 月 更多 F9 盘前盘后 叠加 九转 画线 工具 © | | --- | --- | | 187.100 | 6809[澜起科技] 11:06 价 159.850 涨跌 52.960(49.55%) 均价 157.611 成交量 5200 成交金额 83.13万 2026/02/09 | | | Win.日人气榜 第 12 名 | | 167.048 m | | | ----- | | | 146.995 | | | 126.943 ...

Core Viewpoint - Shanghai-based memory interconnect chip giant, Lanqi Technology, has been listed on the Hong Kong Stock Exchange, with an initial share price of HKD 106.89, opening at HKD 168.00, representing a 57.17% increase and a market capitalization of HKD 203.67 billion [1][2]. Company Overview - Founded in 2004 by Yang Chonghe and Stephen Tai, Lanqi Technology is the largest memory interconnect chip company globally, with a projected market share of 36.8% in 2024 [2][3]. - The company has key investors including Alibaba Group's subsidiary Alisoft China and Huacomm Technology [2]. Financial Performance - For the first nine months of 2025, Lanqi Technology's revenue is expected to exceed the total revenue for 2024, with a significant increase in adjusted net profit [12][16]. - The company reported revenues of RMB 4.058 billion for the first nine months of 2025, with a gross margin of 61.5% [12][19]. - Historical revenue figures show a growth trajectory: RMB 3.672 billion in 2022, RMB 2.286 billion in 2023, and RMB 4.058 billion in 2025 [12][16]. Product Lines - Lanqi Technology has two main product lines: interconnect chips and the Jindai server platform, with interconnect chips accounting for over 90% of revenue [12][18]. - The company offers a full range of memory interface chips from DDR2 to DDR5, including supporting chips like SPD, TS, and PMIC [3][5]. Market Position - Lanqi Technology is recognized as one of the two leading PCIe Retimer suppliers globally and the first to launch CXL MXC chips, achieving a data rate of 12800 MT/s with its DDR5 second-generation chips [7][24]. - The company maintains strategic relationships with major global players in the AI infrastructure ecosystem, including memory module suppliers and cloud service providers [40]. Customer and Supplier Dynamics - The company’s revenue concentration is high, with its top five customers accounting for 84.3% of total revenue in 2022 and 74.8% in 2023 [25][26]. - Over 60% of Lanqi Technology's revenue comes from overseas markets, with significant contributions from major DRAM suppliers like Samsung and SK Hynix [24][22]. Research and Development - Lanqi Technology employs 576 R&D personnel, representing 74.4% of its total workforce, and holds 208 patents globally [32][33]. - The company is a board member of JEDEC and has led the development of international standards for DDR5 RCD, MDB, and CKD chips [32]. Future Outlook - The company aims to enhance its product portfolio by developing innovative Ethernet and optical interconnect solutions, further solidifying its position in the AI infrastructure market [40].

来源：独角兽IPO | [编纂]項下的[编纂]數目 | : [編纂]股H股(視乎[編纂]行使與否而定) | | --- | --- | | [编纂]數目 | .. [编纂]股H股(可予重新分配) | | [編纂]數目 | : [编纂]股H股(可予重新分配及視乎[编 | | 纂]行使與否而定) | | | 最高[編纂] : 每股H股[編纂]港元,另加1.0%經紀 | | | 佣金、0.0027%證監會交易徵費、 | | | 0.00015%會財局交易微費及0.00565% | | | 聯交所交易費(須於[編纂]時以港元繳 | | | 足,多繳股款可予退還) | | | 面值 | : 每股H股人民幣1.00元 | | [编纂] : [编纂] | | | 聯席保薦人·[編纂]及[編纂] | | | (按英文首字母排序) | | | CC HAAE | Morgan Stanley 1 TIDC ph ton dr tad | 澜起科技专注于为云计算及AI基础设施提供创新互连解决方案。 作者 | 独角君 澜起科技股份有限公司H股今日在港交所主板开始买卖，股份代码为06809.HK。这家已在A股上市的全 球领先芯片设计 ...

Group 1 - The core viewpoint of the article highlights the performance of the Chip ETF Dongcai (159599), which opened with a gain of 1.92% at 2.235 yuan on February 9 [1] - The major holdings of the Chip ETF Dongcai include companies such as Cambricon, which rose by 2.22%, SMIC with a 1.86% increase, and Haiguang Information, which saw a 3.43% rise [1] - The performance benchmark for the Chip ETF Dongcai is the CSI Chip Industry Index return rate, managed by Dongcai Fund Management Co., with a return of 119.31% since its establishment on April 19, 2024, and a recent one-month return of -0.47% [1]

Core Viewpoint - The photovoltaic industry chain is experiencing a resurgence, with significant price increases in sectors such as space photovoltaics and photovoltaic glass. Tesla plans to expand its solar cell manufacturing capacity to 100 gigawatts annually over the next three years [1][6]. Market Performance - A-shares opened higher, with all three major indices rising: Shanghai Composite Index up 1.22%, Shenzhen Component Index up 1.71%, and ChiNext Index up 2.12% [1][19]. - Hong Kong stocks also opened positively, with the Hang Seng Index rising 1.69% and the Hang Seng Tech Index up 1.26% [2][3]. Commodity Market - In the commodity market, precious metals saw a strong rebound, with international gold prices reaching approximately $5,040 and spot silver surpassing $80 [1]. - Domestic commodity futures showed mixed results, with platinum rising over 8%, silver up 7%, and palladium increasing by 4%. However, coking coal and coke prices fell by over 1% [4][5]. Specific Stock Movements - Global memory interface chip supplier, Montage Technology, surged over 57% on its first trading day in Hong Kong [6][20]. - The photovoltaic sector saw strong performances, with companies like Jinjing Technology hitting the daily limit up, and several others following suit [16][17]. Investment Interest - The recent IPO of Montage Technology attracted significant market interest, with retail subscriptions oversubscribed by over 700 times and international placements oversubscribed by over 37 times. The offering secured commitments from 17 cornerstone investors totaling $450 million [8].

曲蕾蕾累计任职时间111天，现任基金资产总规模10.63亿元，任职期间最佳基金回报17.29%， 任职期 间最差基金回报-7.99%。 数据显示，摩根基金旗下1只基金重仓澜起科技。摩根上证科创板新一代信息技术ETF（588770）四季 度减持1.45万股，持有股数4.21万股，占基金净值比例为6.69%，位居第四大重仓股。根据测算，今日 浮盈赚取约34.87万元。 摩根上证科创板新一代信息技术ETF（588770）成立日期2025年3月14日，最新规模7418.09万。今年以 来收益7.69%，同类排名910/5579；成立以来收益49.04%。 摩根上证科创板新一代信息技术ETF（588770）基金经理为何智豪、曲蕾蕾。 截至发稿，何智豪累计任职时间5年6天，现任基金资产总规模291.97亿元，任职期间最佳基金回报 70.66%， 任职期间最差基金回报-37.27%。 2月9日，澜起科技涨5.06%，截至发稿，报171.82元/股，成交28.95亿元，换手率1.49%，总市值2083.00 亿元。 资料显示，澜起科技股份有限公司位于上海市徐汇区漕宝路181号和光天地16层,香港铜锣湾希慎道33号 利园1期1 ...

Summary of Key Points from Conference Call Records Industry Overview 1. PCB (Printed Circuit Board) - The PCB sector has shown weak performance since Q4 of last year, primarily due to divergent market views on orthogonal backplane solutions, with some believing they may be replaced by copper cables/CPO or delayed until 2028. However, the orthogonal backplane is currently progressing steadily and is expected to enter mass production in H2 2027. Leading companies are experiencing stock price stagnation due to these divergences, highlighting their cost-effectiveness. Recommended companies include Dongshan Precision, Shenghong Technology, and Huidian Co. [1] - The CoWoP (Chip on Wafer on PCB) solution has stronger certainty, can reduce costs, improve efficiency, and bypass the shortage of substrate capacity. The value per square meter of PCB may increase several times, potentially reaching tenfold, with product launches expected by the end of 2027 and full implementation in 2028. Recommended companies in this direction include Pengding Holdings, Shennan Circuit, and Xinsong Technology. [1] 2. Storage - Contract prices remain in an upward cycle despite fluctuations in spot prices. Module companies are expected to see explosive Q1 performance, with Jiangbolong and Demingli realizing low-priced inventory. Recommended design companies include Zhaoyi Innovation (with a profit expectation of 6 billion) and Puran Co., Beijing Junzheng, and Hengshuo Co. [2] - Demand for memory modules is driven by AI servers and general servers, with recommendations for Lanke Technology (long-term profit of 10 billion) and Jucheng Co. (long-term profit of 1.5 billion). [2] 3. Communication - The recent decline in optical modules is related to the pullback of US tech stocks and speculation around CPO concepts. However, industry sources (such as Coherent and Xuchuang) indicate that CPO's potential to replace optical modules in ScaleOut scenarios is low, suggesting that short-term speculation may be excessive. [2] - North American cloud service providers have exceeded capital expenditure guidance for 2026 (620 billion, up 65% year-on-year), indicating potential accelerated demand for optical modules in 2027. Key upcoming catalysts include Nvidia's quarterly report (February 26), GTC conference (March), and OFC exhibition (NPO product showcase). Recommended companies include Zhongji Xuchuang, Xinyisheng, and Dongshan Precision. [2] - For copper connections as a Plan B alternative to orthogonal backplanes, companies to watch include Luxshare Precision, Wokai Nuclear Materials, and Huiju Technology (with potential for stock doubling). [2] - The price of scattered fiber has surged in the short term (from 25 to 50 yuan), but the low willingness of operators to raise prices raises doubts about long-term sustainability. [2] 4. Computing - Domestic computing resources are in short supply, with the recent downtime of Qianwen highlighting the scarcity of AI foundational resources. The demand for CPUs is expected to rise due to increased usage of agents compared to chatbots. Recommended companies include Haiguang Information (benefiting from both CPU and GPU), Cambrian (leading domestic AI chip manufacturer), and Tianshu Zhixin (expected to accelerate integration with leading players). [2] - Cloud infrastructure resources are expected to benefit from price increases, with recommendations for Kingsoft Cloud, Wangsu Technology, and Fourth Paradigm. [2] - In the AI application sector, the recent drop in overseas software and restructuring of SaaS business models may lead to a narrative reversal with the launch of native agent products in Q3 2026. Companies to watch include Alibaba for 2C entry reconstruction and third-party AI agents like TaxFriend, Zhongkong Technology, and Dingjie Smart. [2] 5. Media - Tencent has faced a decline due to market concerns over potential tax increases on internet platforms, although there is no space for increased game value-added tax. The company remains recommended despite rumors of Q4 earnings downgrades, maintaining a PE ratio of 15 times, which still offers value. [3] - The download situation for the Yuanbao app remains stable, and Tencent's AI capabilities may be closing the gap with larger competitors. [3] - In gaming, companies with upcoming catalysts such as Giant Network and Perfect World are recommended for short-term focus, while Century Huatong and Kaiying Network are suggested for medium to long-term attention due to expected catalysts. [3] - Tencent's establishment of a separate AI comic app is beneficial for the production side, which is entering a period of profitability. Recommendations include Kuaishou, Huanrui, and Rongxin. [3] 6. Pharmaceuticals - Attention is drawn to the update of the essential drug catalog, which may accelerate progress. [4] - The probability of inclusion in the essential drug catalog is high for unique products, with several specific products from companies like Jichuan Pharmaceutical and Panlong Pharmaceutical being highlighted. [4] - Emphasis on the global competitiveness of the innovative drug industry chain, with a focus on new-generation ADCs, IOs, small nucleic acids, and CGT. Recommended companies include Kanghong, Yingen, Yunding, and Chengdu Xian Dao. [4] - The brain-computer interface theme is noted, with a potential showcase of non-invasive products during the Spring Festival and a semi-invasive product approval for Borui Kang in March. [4] - Recommendations include Meihua Medical, Dongwei Semiconductor, and Sanbo Brain Science. [5] - The surgical robot sector is expected to see comprehensive implementation of charging policies before August, with overseas orders doubling and maintaining high growth in 2027. Key types include laparoscopic and orthopedic robots, with strong overseas performance for laparoscopic robots. Recommended companies include MicroPort, Jingfeng Medical, Tianzhihang, and Sanyou Medical. [6]

Market Overview - The Hang Seng Index opened up by 1.59%, reaching 26,982.49, with an increase of 422.54 points [2][6] - The Hang Seng Tech Index rose by 1.9%, closing at 5,447.63 [2][6] - The Hang Seng Biotech Index also increased by 1.9%, reaching 15,508.47 [2][6] - The Hang Seng China Enterprises Index rose by 1.54%, closing at 9,170.57 [2][6] - The Hang Seng Composite Index increased by 1.63%, reaching 4,126.92 [2][6] Sector Performance Technology Sector - Tech stocks experienced a collective rebound, with notable gains from: - Hua Hong Semiconductor up over 4% [2][6] - Baidu Group, Xpeng Motors, and Bilibili each rising over 3% [2][6] - SMIC, Alibaba, JD Group, and SenseTime all increasing by over 2% [2][6] Semiconductor Sector - The semiconductor sector saw a rebound, highlighted by: - Lattice Semiconductor's first-day opening surge of 57% [3][8] - Other companies like Zhaoyi Innovation and Naxin Micro rising over 4% [3][8] Precious Metals Sector - The precious metals sector showed signs of recovery, with: - China Silver Group, CGN Mining, Zijin Mining International, and WanGuo Gold Group all increasing by over 4% [4][9] - Other companies like Lijun Resources and Jiajin International Resources also reported gains [9] Notable Stock Movements - Key stock movements included: - Hua Hong Semiconductor at 103.80, up 4.58% [3][7] - Tencent Music at 65.35, up 3.81% [3][7] - Baidu Group at 142.60, up 3.48% [3][7] - Lattice Semiconductor at 168.00, up 57.17% [4][8] - China Silver Group at 0.640, up 4.92% [9]

每经AI快讯，澜起科技(06809.HK)首挂上市，公告显示，每股定价106.89港元，共发行6589万股份，每 手100股，所得款项净额约69.05亿港元。截至发稿，涨57.17%，报168港元，成交额9.75亿港元。 ...

芯片ETF易方达（516350）业绩比较基准为中证芯片产业指数收益率，管理人为易方达基金管理有限公 司，基金经理为张湛，成立（2021-12-15）以来回报为27.56%，近一个月回报为-0.34%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 来源：新浪基金∞工作室 2月9日，芯片ETF易方达（516350）开盘涨1.96%，报1.301元。芯片ETF易方达（516350）重仓股方 面，寒武纪开盘涨2.22%，中芯国际涨1.86%，海光信息涨3.43%，北方华创涨1.45%，兆易创新涨 2.82%，澜起科技涨4.49%，中微公司涨1.62%，豪威集团涨1.20%，拓荆科技涨1.72%，紫光国微涨 1.49%。 ...