2月3日，中芯国际大宗交易成交18.5万股，成交额1920.3万元，占当日总成交额的0.29%，成交价103.8 元，较市场收盘价116.03元折价10.54%。 | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | | 类出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-03 | 中芯国际 | 1868889 | 103.8 ાં રે | 1712.7 | 委高温馨投资有限 | 203 11866 | | Ka | | 2026-02-03 | 中芯国际 | 688981 | 103.8 7 | 207.6 | 去制量免费图筒任 | 是有些的不是在线 | | Ka | ...

格隆汇2月3日丨创元科技(000551.SZ)在投资者互动平台表示，公司全资子公司江苏苏净是国内洁净环 保领域技术创新、装备制造和工程整体解决方案的综合供应商，江苏苏净下属江苏苏净工程江苏有限公 司是从事洁净室等空气净化系统工程的高新技术企业，拥有超高等级洁净环境集成核心技术，可为电子 信息、医疗卫生、新能源、生物制药等行业客户提供综合的空气净化系统解决方案。 目前，尚未接到 海力士和中芯国际的半导体洁净室订单。 ...

Core Viewpoint - SMIC's stock experienced a slight decline of 0.88% on February 3, with a trading volume of 6.5 billion yuan and a market capitalization of 928.29 billion yuan, ranking 42nd in popularity on Sina Finance's A-share market Group 1: Company Overview - SMIC is the largest integrated circuit manufacturing enterprise group in mainland China, known for its advanced technology and comprehensive support [4] - The company's main business includes integrated circuit wafer foundry services based on various technology nodes and platforms, along with design services, IP support, and photomask manufacturing [4] - As of September 30, 2025, SMIC reported a revenue of 49.51 billion yuan, representing a year-on-year growth of 18.22%, and a net profit attributable to shareholders of 3.82 billion yuan, up 41.09% year-on-year [8] Group 2: Investment and Shareholding - The National Integrated Circuit Industry Investment Fund holds a 1.61% stake in SMIC [2] - As of September 30, 2025, the number of shareholders in SMIC increased to 336,200, with an average of 6,134 shares held per shareholder, a decrease of 25.41% from the previous period [8] - Major shareholders include various ETFs, with notable reductions in holdings from several funds, indicating a shift in institutional investment [9] Group 3: Market Activity - The stock has seen a net outflow of 445 million yuan from major investors today, with a total net outflow of 1.375 billion yuan over the past three days [6] - The average trading cost of SMIC's shares is 123.98 yuan, with the stock price approaching a resistance level of 118.00 yuan, suggesting potential for upward movement if this level is surpassed [7]

Group 1 - The main stocks with significant capital outflows include Zhongji Xuchuang (-1.91 billion), BlueFocus (-1.13 billion), and Xinye Sheng (-1.10 billion) [1] - Zhongji Xuchuang experienced a slight decline of 0.22%, while BlueFocus saw an increase of 3.23% despite the capital outflow [2] - Other notable stocks with capital outflows include Industrial Fulian (-1.04 billion), Western Materials (-0.73 billion), and Tongling Nonferrous Metals (-0.65 billion) [1][3] Group 2 - The sectors affected by capital outflows include communication equipment, cultural media, and precious metals [2][3] - Stocks like Western Materials and Tongling Nonferrous Metals showed positive price movements of 8.63% and 5.38% respectively, despite significant capital outflows [2][3] - The overall trend indicates a mixed performance among the top stocks, with some experiencing price increases while others faced declines [1][2]

2月3日，存储、半导体设备、卫星产业等热门板块再度走强。半导体设备ETF（561980）午后上涨1.25%、一度张超1.8%，实时成交额2.23亿 元；资金面数据显示，该ETF最近10个交易日累计获得资金净流入约4.83亿元。 成份股涨跌互现，中微公司、中科飞测涨超3%，长川科技、华峰测控涨超6%，神工股份涨超5%，盛美上海、晶瑞电材、华海清科、南大光电 等多股拉升，寒武纪、海光信息、中芯国际调整。 6 市场热点 当下正值年报披露高峰期，近期国内外多家半导体设备厂商与设计龙头业绩高增。以半导体设备ETF（561980）标的指数为例，截至1月30 日，中证半导前十大中微公司、长川科技、寒武纪等陆续公布年报预告，均实现营收、净利双增长，其中寒武纪、中科飞测首次实现归母净利 扭亏为盈。 海外方面，国际半导体设备龙头ASML（阿斯麦）、KLA（科磊）亦公布了最新财报，均显示业绩全面超预期。截至2025年年底，国产设备平 台型龙头北方华创正式跻身全球芯片设备制造商TOP5，刻蚀设备龙头中微公司新进榜单、排名第13，标志国产设备或从追赶过渡到引领。 此外，存储涨价大周期正史诗级上线，全球多家存储巨头扩产计划为设备需求提供 ...

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable amounts leaving the communication equipment and precious metals sectors [1][2][3] Group 1: Stock Performance and Capital Outflow - Zhongji Xuchuang experienced a capital outflow of 1.647 billion, with a slight increase in stock price of 0.37% [2] - Xinyi Sheng saw a capital outflow of 1.169 billion, with a decline in stock price of 1.7% [2] - BlueFocus Media had a capital outflow of 1.067 billion, with a stock price increase of 2.48% [2] - Industrial Fulian faced a capital outflow of 1.022 billion, with a decrease in stock price of 0.32% [2] - Zijin Mining reported a capital outflow of 0.844 billion, with a stock price increase of 3.88% [2] - Western Materials had a capital outflow of 0.747 billion, with a notable stock price increase of 7.73% [2] Group 2: Sector Analysis - The communication equipment sector is facing significant capital outflows, with Zhongji Xuchuang and Xinyi Sheng leading the outflows [1][2] - The precious metals sector, including companies like Shandong Gold and Zijin Mining, is also experiencing notable capital outflows [1][3] - The automotive sector, represented by BYD, has a capital outflow of 0.396 billion, with a slight decrease in stock price of 0.25% [3]

Group 1 - The semiconductor equipment sector is experiencing a strong performance, with the semiconductor equipment ETF (561980) rising by 1.25% and achieving a net inflow of approximately 483 million yuan over the last 10 trading days [1] - Major semiconductor companies, including domestic firms like Zhongwei Company and Changchuan Technology, have reported significant revenue and profit growth, with some companies like Cambrian and ZKFL achieving profitability for the first time [1][2] - International leaders in semiconductor equipment, such as ASML and KLA, have also reported earnings that exceeded expectations, indicating a robust market environment [1][2] Group 2 - The global semiconductor industry is entering a major expansion phase, with companies like Samsung and SK Hynix planning to increase their NAND flash production capacity significantly, and TSMC projecting over 100% capacity expansion in the next decade [2] - The semiconductor equipment ETF (561980) tracks the CSI Semiconductor Index, which has a high concentration of leading companies, with the top ten stocks accounting for approximately 75% of the index [2][3] - The index has shown strong performance, with a maximum increase of over 690% during the last semiconductor upcycle and a 283% increase since 2020, outperforming other comparable indices [3][20] Group 3 - The semiconductor equipment sector is expected to see a record high in sales, with a projected 13.7% year-on-year growth in 2025, driven by strong demand from AI and storage expansion [13][24] - The demand for high-performance storage products is surging due to AI applications, leading to significant price increases in DRAM and NAND flash memory [7][25] - Domestic chip design leaders are projected to achieve their first annual profits in 2025, with expected revenues of 6 to 7 billion yuan, reflecting a substantial year-on-year growth of 410% to 496% [8]

Group 1 - The semiconductor leading ETF, 工银 (159665), opened with a gain of 1.46%, priced at 2.010 yuan [1] - Key holdings in the ETF include 中芯国际 (up 1.39%), 海光信息 (up 1.94%), 寒武纪 (up 1.05%), 北方华创 (up 1.05%), 兆易创新 (up 3.75%), 中微公司 (up 2.41%), 澜起科技 (up 3.86%), 豪威集团 (up 1.49%), 拓荆科技 (up 2.02%), and 长电科技 (up 2.40%) [1] - The ETF's performance benchmark is the 国证半导体芯片指数收益率, managed by 工银瑞信基金管理有限公司, with a return of 97.89% since its inception on December 22, 2022, and a return of 10.68% over the past month [1]

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - In Q4 2025, after nearly a year of upward trend, the A - share market started to move sideways and fluctuate, with wide - based indices showing mixed performance. Large and mid - cap value indices significantly outperformed growth indices, and the active equity fund scale and share decreased while the issuance quantity and scale slightly increased [3][8]. - The average stock position of equity funds slightly shrank, and the Hong Kong stock position also declined. Institutions increased the allocation in cyclical and financial sectors and adjusted the allocation in technology, medicine, and consumption sectors [3]. - The performance of theme funds in various industries was differentiated. Cyclical theme funds performed the best, while pharmaceutical theme funds performed the worst [3]. - Among the top 20 fund companies in terms of active equity fund scale, the scale changes compared to Q3 were mixed, with some companies' rankings changing [3]. - In Q4, the active equity fund most heavily held by FOF in terms of holding ratio and quantity was "Fuguo Steady Growth" [3]. 3. Summary by Related Catalogs 3.1 Fund Market Overview - **Performance Review**: In Q4 2025, the A - share market moved sideways and fluctuated after a year - long upward trend. Only the Shanghai Composite Index rose by 2.22% among wide - based indices, while others like the Shenzhen Component Index and the ChiNext Index declined. In terms of style, large and mid - cap value indices outperformed growth indices. The Hang Seng Index and related Hong Kong stock indices also declined [8]. - **Industry Index Performance**: Except for 9 industries such as medicine and beauty care, the remaining 22 industries in the Shenwan 31 - industry index achieved positive returns in Q4. Resources and military industries performed well, while the pharmaceutical industry was weak overall. The top 5 industries in terms of increase were non - ferrous metals (16.25%), petroleum and petrochemicals (15.31%), communication (13.61%), national defense and military industry (13.1%), and light industry manufacturing (7.53%) [11]. - **Equity Fund Performance**: In Q4 2025, ordinary stock - type funds, partial - stock hybrid funds, and flexible allocation funds declined by 1.94%, 1.60%, and 0.04% respectively, while balanced hybrid funds rose by 0.87%. In terms of risk, balanced hybrid funds with lower stock positions had the best drawdown performance, and flexible allocation funds showed better risk - return performance in the long - term [31]. - **Scale and Share**: By the end of Q4 2025, the total scale of active equity funds was 3.81 trillion yuan, a slight decrease of 4.53pct compared to the previous quarter, and the total share was 2.56 trillion shares, a decrease of 2.91pct. Among them, partial - stock hybrid funds had the largest scale, and balanced hybrid funds had the smallest scale [34]. - **Newly Issued Fund Situation**: In Q4, the number and scale of newly issued active equity funds slightly increased. A total of 100 funds were newly issued, with a total scale of 441.67 billion yuan, an increase of 4.72 billion yuan compared to the previous quarter. Partial - stock hybrid funds had the largest newly issued scale [36]. 3.2 Fund Holding Characteristics - **Stock/Hong Kong Stock Position**: In Q4 2025, the equity fund position slightly shrank, with the average stock position at 88.05%, a decrease of 0.88 percentage points compared to the end of the previous quarter. The Hong Kong stock position also decreased, with the average investment market value of Hong Kong stocks accounting for 11.62% of the net value, a decrease of 1.85 percentage points compared to the previous quarter [43]. - **Heavy - Holding Stock Sector Allocation**: In Q4, technology was the most heavily held sector by active equity funds. Except for cyclical, manufacturing, and financial sectors, the proportion of other sectors decreased. Institutions increased the allocation in cyclical and financial sectors and adjusted the allocation in technology, medicine, and consumption sectors [48]. - **Heavy - Holding Stock Industry Allocation**: The electronics industry was still the largest heavily - held industry by equity funds, but the allocation ratio decreased, and non - ferrous metals were significantly increased. The concentration of the top five industries slightly decreased from 58.58% in Q3 to 58.40% [50]. - **Individual Stock Level**: The top 10 individual stocks in terms of heavy - holding market value accounted for by equity funds were Zhongji Innolight, Xinyisheng, CATL, Tencent Holdings, Zijin Mining, Alibaba - W, Cambricon - U, Luxshare Precision, SMIC, and Kweichow Moutai. The market value proportion of Zhongji Innolight, Xinyisheng, and Ping An of China increased significantly, while that of Industrial Fuxing, Alibaba - W, and EVE Energy decreased relatively more [52]. - **Heavy - Holding Stock Market Value and Concentration**: The market value style of equity fund holdings continued to strengthen towards mid - and large - cap stocks. The concentration of the top 50, 100, and 200 heavy - holding stocks slightly decreased, but basically continued the previous trend [61]. 3.3 Fund Company Analysis - **Scale Ranking**: In Q4 2025, the scale changes of the top 20 fund companies in terms of active equity fund scale compared to Q3 were mixed. The top 5 institutions were E Fund, China Europe Asset Management, GF Fund, Fuguo Fund, and Huatai - PineBridge Fund. Among the companies ranked 6 - 20, the equity scale of Yongying Fund further increased, and its ranking rose by 2 places [64]. - **TOP20 Fund Company Heavy - Holding Industries**: The first - largest heavily - held industries of the top 20 fund companies were mainly electronics and medicine and biology. Dacheng Fund's first - largest heavily - held industry was non - ferrous metals, showing certain differences [65]. - **TOP20 Fund Company Heavy - Holding Stocks**: In Q4, the average concentration of the top three heavy - holding stocks of the top 20 fund companies in terms of active equity fund scale was 14.27%, and the concentration of the top five heavy - holding stocks was 21.04%, slightly increasing compared to the previous quarter. Xingquan Fund had the highest concentration of the top three heavy - holding stocks [67]. 3.4 Theme Fund Analysis - **Fund Performance**: In Q4, the performance of theme funds in various industries was differentiated. Cyclical theme funds performed the best, with a quarterly increase of 10.10%, followed by financial and manufacturing theme funds. Pharmaceutical theme funds had the worst performance, with a quarterly decline of 13.15% [71]. - **Pharmaceutical and Consumption Themes**: In pharmaceutical theme funds, the sub - sectors with a relatively high market value proportion in heavy - holding stocks were chemical preparations and other biological products. The sub - sectors with a relatively large increase in heavy - holding proportion were medical R & D outsourcing and traditional Chinese medicine. In consumption theme funds, the sub - sectors with a relatively high market value proportion were liquor and agriculture, forestry, animal husbandry, and fishery. The sub - sectors with a relatively large increase in heavy - holding proportion were food processing and social services [75]. - **Technology and New Energy Themes**: In technology theme funds, the sub - sectors with a relatively high market value proportion in heavy - holding stocks were artificial intelligence and consumer electronics industries. The sub - sectors with a relatively large increase in heavy - holding proportion were optical modules and IDC. In new energy theme funds, the sub - sectors with a relatively high market value proportion were energy storage and solid - state batteries. The sub - sectors with a relatively large increase in heavy - holding proportion were resource stocks and solid - state batteries [79]. 3.5 FOF Holding Analysis - **High - Holding - Ratio Funds**: In Q4 2025, the active equity fund with the highest holding ratio among FOF heavy - holding funds was "Fuguo Steady Growth", with a fund manager of Fan Yan. The fund's holding market value accounted for 2.53% of the total market value of all heavy - holding funds, an increase of 0.13% compared to the previous quarter [81]. - **High - Holding - Quantity Funds**: In Q4 2025, the active equity fund most heavily held by FOF in terms of quantity was still "Fuguo Steady Growth", followed by "Bodaojiu Hang" and "China Europe Dividend Premium Selection" [83]. - **Ratio/Quantity Changes**: In Q4 2025, the active equity funds with the largest increase in holding ratio and quantity among FOF heavy - holding funds were "Huatai - PineBridge Extended Growth Theme" and "China Europe Dividend Premium Selection" respectively [85]. - **New - Generation Fund Managers**: Among the active equity funds managed by new - generation fund managers with less than 3 years of management experience, the fund with the highest holding ratio among FOF heavy - holding funds in Q4 was "Rongtong Industrial Trend Selection", with a fund manager of Li Jin. The fund's holding market value accounted for 0.70% of the total market value of all heavy - holding funds, a quarter - on - quarter increase of 0.37% [87]. - **Holding Own Funds**: Different FOF institutions such as E Fund, China Europe Asset Management, Invesco Great Wall, Fuguo Fund, Huatai - PineBridge Fund, and Xingzheng Global Fund had different situations in holding their own equity funds, with different scales and top - held funds [89][91][94][96][98].

Group 1 - The semiconductor equipment sector showed strong performance, with the semiconductor equipment ETF (561980) rising by 1.38% and reaching a peak increase of 2.45% during the trading session [1] - Major companies in the sector, such as Zhongwei Company, led the gains with a rise of 3.55%, while other key players like Northern Huachuang and SMIC also saw increases [1] - The ETF has attracted significant market interest, with a cumulative net inflow exceeding 860 million yuan since the beginning of the year, marking a historical high for the same period [1] Group 2 - The strong performance of the sector is driven by clear capital expenditure signals from global storage giants and positive validation from the domestic supply chain [3] - Global trends indicate that storage giants like Samsung Electronics and SK Hynix are planning to expand their NAND flash memory production capacity, providing long-term certainty for equipment demand [3] - The domestic market has dispelled concerns about order cuts, with local leaders transitioning from debugging lines to formal production lines, indicating a shift towards large-scale production and capacity release [3] Group 3 - The semiconductor equipment ETF focuses on critical areas of domestic substitution, heavily investing in leading equipment companies like Northern Huachuang and Zhongwei Company, as well as design giants like Cambricon and Haiguang Information [4] - The top ten holdings account for nearly 80% of the ETF, with equipment and design sectors making up almost 90%, highlighting a clear focus on leading companies in the industry [4]