（编辑 丛可心） 证券日报网讯 2月5日，影石创新在互动平台回答投资者提问时表示，公司致力于在垂类场景创造独特 的体验和竞争力，现已在智能影像设备领域具有卓越的产品设计、研发能力，拥有多项核心技术，已成 为公司的核心竞争力之一。公司品牌"影石Insta360"凭借创新的产品设计、先进的产品技术和丰富的产 品功能建立了良好的市场口碑，在行业内的知名度及品牌优势不断提升。公司董事会将综合考虑所处行 业特点、发展阶段、自身经营模式、盈利水平以及是否有重大资金支出安排等因素，在充分考虑股东的 利益的基础上正确处理公司的短期利益及长远发展的关系，审慎决定利润分配方案。后续如有相关计 划，公司将严格按照相关规定履行信息披露义务。 ...

来源：新浪证券-红岸工作室 2月4日，汇成股份跌1.28%，成交额5.33亿元，换手率3.19%，总市值167.97亿元。 异动分析 存储芯片+先进封装+OLED+芯片概念+人民币贬值受益 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 2、据2023年2月投资者关系活动记录表： Chiplet先进封装技术是凸块制造、Fan-out、3D、SiP等高端先 进封装技术的集合，公司掌握的凸块制造技术是Chiplet的基础之一。在研发端，公司将以客户需求为导 向，基于凸块制造技术，纵向拓展技术边界，积极布局Fan-out、2.5D/3D、SiP等高端先进封装技术。 3、2024年7月3日公司投资者关系活动记录表：公司目前OLED客户主要包括联咏、瑞鼎、奕 ...

来源：新浪证券-红岸工作室 2月3日，汇成股份涨4.87%，成交额6.27亿元，换手率3.75%，总市值170.14亿元。 异动分析 存储芯片+先进封装+OLED+芯片概念+人民币贬值受益 1、2025年10月14日公司，合肥新汇成微电子股份有限公司举办特定对象调研活动，向舟资本、兴全基 金、平安资管等多家机构投资者披露重磅布局：公司通过直接与间接投资相结合，拿下合肥鑫丰科技有 限公司（简称 "鑫丰科技"）27.5445% 股权，并与鑫丰科技股东华东科技（苏州）有限公司（简称 "华 东科技"）达成战略合作，共同拓展 3D DRAM 等存储芯片封测业务，瞄准 AI 基建时代下存储芯片的爆 发式需求。 技术面：筹码平均交易成本为19.50元 3、2024年7月3日公司投资者关系活动记录表：公司目前OLED客户主要包括联咏、瑞鼎、奕力、云英 谷、集创北方、芯颖、傲显、昇显微、晟合微等。 4、合肥新汇成微电子股份有限公司的主营业务是集成电路高端先进封装测试服务。公司的主要产品是 集成电路封装测试。 5、根据2024年年报，公司海外营收占比为54.15%，受益于人民币贬值。 (免责声明：分析内容来源于互联网，不构成投资 ...

Investment Rating - The industry investment rating is maintained as "Positive" [4] Core Insights - The demand for AI computing power is driving a persistent shortage in storage [2][8] - Major storage companies are experiencing strong performance, with AI demand expected to continue creating incremental opportunities [6] - The supply of niche storage is under pressure from mainstream storage, leading to a sustained tight supply situation [7] Summary by Sections Investment Recommendations and Targets - Key investment targets include domestic storage chip design companies such as Zhaoyi Innovation, Puran, Jucheng, Dongxin, Beijing Junzheng, and Hengsuo [2][8] - Domestic storage module manufacturers like Jiangbolong, Demingli, and Baiwei Storage are also highlighted [2] - Companies benefiting from storage technology iterations include Lanke Technology, Lianyun Technology, and Aojie Technology [2] - Semiconductor equipment firms such as Zhongwei Company, Jingzhida, and Beifang Huachuang are recommended [2] - Domestic packaging and testing companies like Shentek, Huicheng, and Tongfu Microelectronics are included in the investment targets [2] Market Dynamics - TrendForce has revised upward the price growth rates for DRAM and NAND Flash products for the first quarter, with DRAM contract prices expected to rise by 90-95% and NAND Flash by 55-60% [7] - AI computing demand is becoming the dominant factor in storage demand, with significant price increases anticipated for Server DRAM and Enterprise SSDs [7] - The AI inference process is expected to significantly alter data center storage structures, leading to increased demand for active data storage [7] Niche Storage Supply - Niche storage products like NOR Flash and MLC/SLC NAND Flash are expected to remain in tight supply due to reduced production from major suppliers focusing on mainstream products [7] - The global capacity for MLC NAND Flash is projected to decrease by 41.7% in 2026 due to supply constraints [7]

擅自改变林地用途，正邦科技（SZ002157，股价3.30元，市值305.26亿元）控股公司被罚约63.07万元； 以逃避监管的方式超标排放水污染物，中泰化学（SZ002092，股价7.01元，市值181.56亿元）控股公司 收到47.45万元罚单…… 2026年1月第五周，哪些上市公司的环境保护与信披责任亮起了红灯？且看A股绿色周报第231期。 每日经济新闻联合环保领域知名NGO公众环境研究中心（IPE），自2020年9月起，基于31个省份（自 治区、直辖市）、337个地级市政府发布的环境质量、环境排放和污染源监管记录等权威数据来源，每 周收集剖析中国数千家上市公司及其旗下数万家公司（包括分公司、参股公司和控股公司）的环境信息 数据，发布"A股绿色周报"，旨在借助环境数据库及专业解析、传播能力，让资本市场的上市公司经营 活动中的环境信息更加阳光透明。 根据1月第五周收集到的数据，《每日经济新闻》记者发现，共有10家上市公司在近期暴露了环境风 险。 一周绿鉴：擅自改变林地用途 此外，合肥市瑶海区人民政府官网发布文号为"皖合环（瑶）罚〔2025〕26号"的处罚书显示，汇成股份 （SH688403，股价20.03 ...

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry [5] Core Insights - The ongoing shortage of niche storage is expected to continue, with AI demand opening up incremental growth opportunities [2][8] - AI demand is anticipated to drive the need for niche storage, particularly in applications such as automotive, industrial, and security [7] - Domestic manufacturers are positioned competitively in the niche storage market and are likely to benefit from the supply constraints caused by international suppliers exiting this segment [7] Summary by Sections Investment Recommendations and Targets - Key investment targets include domestic storage chip design companies such as Zhaoyi Innovation, Puran, Jucheng, Dongxin, Beijing Junzheng, and Hengshuo [3][8] - Other relevant companies include domestic storage module manufacturers like Jiangbolong, Demingli, and Baiwei Storage, as well as semiconductor equipment firms such as Zhongwei, Jingzhida, and Beifang Huachuang [3][8] - Companies benefiting from storage technology iterations include Lanke Technology, Lianyun Technology, and Aojie Technology [3][8] Market Dynamics - The supply of niche storage products is being significantly reduced as major international suppliers focus on mainstream storage products, leading to a substantial contraction in supply [7] - For instance, the global MLC NAND Flash capacity is projected to decrease by 41.7% in 2026 due to supply shrinkage, which is expected to drive prices significantly higher [7] - Domestic firms are gaining market share in niche storage, with Zhaoyi Innovation holding approximately 18.5% of the NOR Flash market in 2024, ranking second globally [7]

Group 1 - The core viewpoint of the news is that Huicheng Co., Ltd. has seen a significant increase in its stock price, rising by 5.33% to reach 20.96 yuan per share, with a trading volume of 753 million yuan and a turnover rate of 4.31%, resulting in a total market capitalization of 18.213 billion yuan [1] - Huicheng Co., Ltd. is located in Hefei, Anhui Province, and was established on December 18, 2015. It was listed on August 18, 2022. The company's main business focuses on the manufacturing of gold bumping, as well as comprehensive services in wafer testing and various packaging processes for display driver chips [1] - The revenue composition of Huicheng Co., Ltd. indicates that 90.25% comes from the testing and packaging of display driver chips, while the remaining 9.75% is from other sources [1] Group 2 - From the perspective of major fund holdings, Huicheng Co., Ltd. is a significant investment for Huazheng Fund, with the Huazheng Ruixin Optimal Mixed A Fund holding 137,700 shares, accounting for 2.97% of the fund's net value, making it the tenth largest holding [2] - The Huazheng Ruixin Optimal Mixed A Fund has a current scale of 40.5293 million yuan and has achieved a return of 13.15% this year, ranking 842 out of 8861 in its category. Over the past year, it has returned 42.3%, ranking 2735 out of 8126, and since its inception, it has achieved a return of 64.58% [2] Group 3 - The fund manager of Huazheng Ruixin Optimal Mixed A Fund is Lu Ben, who has been in the position for 7 years and 127 days. The total asset scale of the fund is 3.334 billion yuan, with the best return during his tenure being 178.61% and the worst return being 3.83% [3]

Core Viewpoint - Insta360 is set to launch a new dual-camera handheld gimbal camera, which is expected to directly compete with DJI's popular Pocket series [1] Group 1: Product Launch - A set of images of the dual-camera handheld gimbal camera product circulated online, leading to speculation about the unreleased Pocket 4 [1] - Liu Jingkang, founder of Insta360, subtly responded on Weibo, suggesting that the new product may not be from DJI, which is interpreted as an indirect announcement of the new product [1] - The key differentiator of Insta360's new product is its dual-camera design, which is anticipated to enable ultra-long zoom capabilities for handheld gimbal cameras [1]

Core Insights - The article highlights the recognition of 3 "Special Contribution Entrepreneurs" and 20 "2025 Entrepreneurs" who exemplify long-termism and innovation across various industries in China, including liquor, manufacturing, energy, agriculture, internet, AI, and new consumption [1][2]. Group 1: Special Contribution Entrepreneurs - Ji Keliang, former chairman of Kweichow Moutai Group, transformed traditional brewing techniques into scientific data over 60 years, emphasizing quality over speed, which laid the foundation for Moutai's billion-dollar brand value [4][10][12]. - Zhang Ruimin, founder of Haier Group, is known for his continuous self-disruption and innovation, leading Haier from a struggling factory to a global leader in home appliances with over 400 billion yuan in revenue [18][20][21]. - Jiang Baoquan, founder of Nanjing Gold Foil Holdings, turned a failing workshop into the world's largest gold foil producer, emphasizing resilience and innovative management theories [25][27][29]. Group 2: 2025 Entrepreneurs - Ma Huateng, chairman of Tencent, focuses on "technology for good," committing to social responsibility and innovation in digital technology to drive high-quality economic development [31][34][41]. - Wang Ning, founder of Pop Mart, capitalizes on emotional value and consumer psychology, creating a successful business model around collectible toys that resonate with young consumers [43][45][46]. - Wang Xingxing, founder of Yushutech, leads advancements in humanoid robotics, achieving significant market presence and profitability while promoting technological innovation [48][49][51]. - Fang Hongbo, chairman of Midea Group, has successfully transformed Midea into a global technology group through strategic restructuring and a focus on efficiency and innovation [54][56]. - Liu Yonghao, chairman of New Hope Group, maintains a long-term vision in agriculture, achieving growth even during economic downturns by embracing new technologies [67][69][70]. - Liu Qiangdong, founder of JD.com, integrates the concept of "common prosperity" into business practices, ensuring fair profit distribution among stakeholders while enhancing supply chain efficiency [73][75][78]. - Li Dongsheng, founder of TCL, exemplifies global leadership in semiconductor display and photovoltaic sectors, driving innovation and sustainable growth through strategic partnerships [110][111].

Core Insights - The event "Guanghuo Hang Tianxia" in Huaqiangbei, Shenzhen, showcased over 400 consumer electronics products, with more than 80% featuring AI capabilities, aiming to enhance the Guangdong brand and promote sales domestically and internationally [1][4]. Group 1: Event Overview - The event attracted a daily foot traffic of 750,000 people, featuring 50 leading consumer electronics brands including Huawei, Honor, and OPPO, showcasing their latest products [2]. - The Huawei Mate Pad Edge, a two-in-one device with Harmony OS 5.1, received significant attention for its innovative detachable screen design, allowing seamless transitions between tablet and computer modes [2]. Group 2: AI Integration in Products - AI-related products dominated the exhibition, with around 80% of the showcased items incorporating AI features, catering to various consumer needs across different age groups [3]. - Shenzhen Dejiazhou Electronics presented a range of practical AI products, including AI glasses and translation devices, with their AI smart glasses priced at 380 yuan, significantly lower than similar international products [3]. Group 3: Market Impact and Consumer Trends - The event increased overall foot traffic in Huaqiangbei by approximately 100,000 visitors, a 15% year-on-year growth, indicating a strong consumer interest in tech products as modern gifts [4]. - The exhibition allowed manufacturers to gain insights into market demands, particularly the emphasis on practical AI functionalities, which will inform future product development [4]. Group 4: International Engagement - Huaqiangbei serves as a key destination for international buyers, with over 7,000 foreign merchants visiting daily and shipping over 10 billion packages annually to 183 countries [5]. - The area is enhancing its infrastructure to support international commerce, including multi-currency exchange points and multilingual services, to facilitate smoother transactions for foreign customers [6]. Group 5: Future Development Plans - Huaqiangbei aims to transition from "China's Electronic First Street" to a "Global Digital Consumption Destination" by hosting various promotional events and integrating online and offline sales channels [6].