Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, indicating an expectation of returns stronger than the market benchmark by over 5% [5]. Core Insights - Strong demand for computing power driven by AI applications is expected to continue, with significant investments from major cloud providers [8]. - The hardware supply-demand imbalance is spreading across various sectors, leading to price increases [8]. - New technologies such as CPO (Co-Packaged Optics) are anticipated to create additional demand [8]. Summary by Sections Investment Recommendations and Targets - Key investment targets include: - Semiconductor manufacturing: SMIC (688981, Buy), Hua Hong Semiconductor (01347, Buy) - Testing and packaging: Changdian Technology (600584, Buy), Tongfu Microelectronics (002156, Buy), and others [9]. - Server storage: Lianqi Technology (688008, Buy) - CPUs: Haiguang Information (688041, Buy), Longxin Technology (688047, Not Rated), and others [9]. - Passive components: Sanhua Group (300408, Buy), Fenghua Advanced Technology (000636, Not Rated) [9]. - Server manufacturing: Industrial Fulian (601138, Buy), Huaqin Technology (603296, Buy) [9]. - Analog and power chips: Naxin Micro (688052, Buy), Sierui Technology (688536, Not Rated), and others [9]. - Semiconductor equipment: Zhongwei Company (688012, Buy), Northern Huachuang (002371, Buy), and others [9]. - Optical devices/chips: Zhishang Technology (301486, Not Rated), Tianfu Communication (300394, Not Rated), and others [9]. AI Applications and Edge Computing - Key targets in edge AI applications include: - AI main control chips: Amlogic (688099, Buy), Hengxuan Technology (688608, Buy) - Edge storage: Zhaoyi Innovation (603986, Buy), Bawei Storage (688525, Buy) [10]. - Terminal manufacturers: Hikvision (002415, Buy), Luxshare Precision (002475, Buy), BYD Electronics (00285, Not Rated), and others [10]. - Core components for AI edge: Huanxu Electronics (601231, Buy), Sunny Optical Technology (02382, Buy), and others [10].

（文章来源：证券日报） 证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，关于公司业务布局情况，可查阅 公司定期报告及其他公告中的披露信息。 ...

证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，2025年下半年以来，蜂窝物联网 芯片市场整体竞争充分，应用场景持续拓展。在Cat.1等成熟细分领域，市场格局相对稳定，竞争重点 逐步从单纯价格竞争转向产品稳定性、交付能力及客户服务能力；在智能设备和海外市场，公司凭借平 台化产品布局和规模化量产经验，持续积累竞争力。2026年，随着公司蜂窝物联网芯片产品出货规模的 持续提升、产品结构的进一步优化，以及供应链和成本控制能力的增强，公司该业务毛利率具备一定改 善基础。后续公司将持续通过技术迭代、产品组合优化，努力提升该业务整体盈利能力。 （编辑 任世碧） ...

证券日报网讯2月6日，翱捷科技在互动平台回答投资者提问时表示，公司的NPU IP可覆盖从数百GOPS 到数十TOPS的算力需求。公司的IP主要用于自研产品。 ...

Core Viewpoint - The company has established partnerships in its chip customization business across multiple sectors, and these orders currently represent a reasonable proportion of its overall business [1] Group 1 - The company is committed to the continuous development of its chip customization business [1] - The company aims to actively expand collaborations with clients across various industries [1] - Relevant operational data will be disclosed in the company's regular reports and official announcements [1]

证券日报网讯2月6日，翱捷科技在互动平台回答投资者提问时表示，公司在定制业务方面项目技术复杂 度较高，交付周期较长，很多项目超过一个会计年度，这使得当期在手订单金额与当期可确认收入金额 存在较大差异，为避免误导投资者决策，公司选择在当前阶段不披露在手订单的金额，而是对年度收入 预期进行相关指引。即便如此，由于一些地缘政治、技术封锁升级或者项目本身的研发风险，该预期指 引也会存在一定的不确定性，所以公司在给出预期指引的同时也会提示投资风险。 ...

Group 1 - The company strictly adheres to information disclosure regulations and fulfills its disclosure obligations, indicating no undisclosed matters that should have been disclosed [1] - For significant contracts that meet disclosure standards, the company will timely fulfill its disclosure obligations in accordance with legal regulations [1]

（文章来源：证券日报） 证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，目前公司员工总数超过1200人， 其中研发人员占比接近90%。 ...

Core Viewpoint - The company emphasizes its commitment to the cellular baseband field and plans to continue investing in research and development to enhance its competitive strength and market share [1] Group 1: Company Strategy - The company has maintained a focus on the cellular baseband sector since its inception and will continue to allocate resources for R&D in this area [1] - The company will adjust resource distribution based on market changes and the development status of various product lines [1] Group 2: Business Operations - Custom chip business is one of the company's main operations and has already received significant resource investment [1]

证券日报网讯 2月6日，翱捷科技在互动平台回答投资者提问时表示，公司第一颗5G智能SoC芯片正在 测试中，目前5G实网电话已打通，其他各项仪表测试顺利。 （文章来源：证券日报） ...