天治中国制造2025混合（350005）基金经理为梁莉。 截至发稿，梁莉累计任职时间4年306天，现任基金资产总规模8816.05万元，任职期间最佳基金回报 30.83%， 任职期间最差基金回报-63.25%。 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。 数据显示，天治基金旗下1只基金重仓德明利。天治中国制造2025混合（350005）四季度持有股数1600 股，占基金净值比例为2.53%，位居第八大重仓股。根据测算，今日浮盈赚取约1.92万元。 天治中国制造2025混合（350005）成立日期2008年5月8日，最新规模1467.57万。今年以来收益 13.52%，同类排名916/8890；近一年收益32.37%，同类排名3326/8132；成立以来收益278.36%。 责任编辑：小浪快报 2月13日，德明利涨5.01%，截至发稿，报251.90元/股，成交20.26亿元，换手率5.14%，总市值571.42亿 元。 资料显示 ...

以下文章来源于财经锐眼 ，作者锐眼哥 财经锐眼 . 专注上市公司，解读资本故事。今日头条、新浪财经、网易财经、百家号、东方财富、同花顺等多个平 台获奖者。 作者：锐眼哥 来源：财经锐眼 价格暴涨，存储芯片厂商简直赚麻了。 ----------------------------- 存储产品，价格涨到天上？ 这几天，全球三大存储芯片厂商之一的韩国 SK 海力士， 将向全体员工发放人均超 1.36 亿韩元 （约合 64 万元人民币） 绩效 奖金 的新闻刷屏网络，网友纷纷表示十分羡慕。 海力士对员工如此阔绰，一方面是因为， 去年 9 月 把激励制度变成 " 将年度营业利润的 10% 纳 入奖金池 "，另一方面自然是产品价格的暴涨。 过去的几个月，全球存储硬件市场经历了一场前所未有的价格飙升，内存和硬盘价格如同坐上火箭 般持续攀升。 根据行业监测数据， 内存价格平均上涨了 344% ，其中 DDR5 内存条从 2025 年 9 月起价格上 涨超过 300% ， DDR4 内存条涨幅也超过 150% 。 AI 爆发之下，硬盘市场也大幅涨价。主流机械硬盘（ HDD ）价格在四个月内平均上涨了 50% 左 右，部分型号涨幅 ...

Group 1 - The core viewpoint of the article highlights the performance of the Zhongzheng 1000 ETF (159845), which rose by 0.82% to 3.430 yuan with a trading volume of 1.133 billion yuan as of the midday close [1] - Major stocks within the Zhongzheng 1000 ETF include Xiangnong Chip Creation, which increased by 1.47%, Dongxin Co., which rose by 0.99%, and Yuanjie Technology, which surged by 4.42% [1] - The fund's performance benchmark is the Zhongzheng 1000 Index return, managed by Huaxia Fund Management Co., with a return of 40.83% since its establishment on March 18, 2021, and a return of 1.31% over the past month [1] Group 2 - The article provides specific stock performance details, including Jianqiao Technology's increase of 2.38%, Oufeiguang's decrease of 0.50%, Changxin Bochuang's rise of 11.01%, and Chunzong Technology's increase of 3.39% [1] - Other notable stock performances include Demingli's increase of 1.13%, Yongding Co.'s rise of 1.19%, and Yahua Group's increase of 1.47% [1]

我是芯片超人花姐，入行20年，有50W+芯片行业粉丝。 有很多不方便公开发公众号的， 关于芯片买卖、关于资 源链接等， 我会分享在朋友圈 。 存储芯片，可以说是芯片市场贯穿2025年全年的主角。进入2026年之后，关于存储芯片的紧缺及 涨价消息仍然不断，整体仍然处于上涨趋势中。 同时，上游晶圆制造、存储芯片原厂、存储模组厂、存储相关芯片分销商等产业链相关企业的 2025年财报也陆续放出。我们整理了存储相关厂商在2025年的最新业绩表现，以及针对存储芯片 的相关报道及行动。 | 2025年存储产业链厂商情况汇总 | | | --- | --- | | 晶圆制造 | 台积电:客户不受存储涨价影响 | | 中芯国际:存储涨价影响是双向的 | | | 华虹:NOR Flash 强劲增长 | | | 力积电:DRAM及Flash晶圆代工价格持续上调 | 三星：全年营收创历史新高 | | SK海力士:营收远超最高纪录 | 美光:最新李度营收大涨56.6% | | 夹:营收继续下滑,营业利润暴增 | | | 存储原 | #82C2 #1 1 部分报 与安 | | 芯片超人花姐Chris | | 扫码加我本人微信 01 晶圆 ...

行 2026 年 02 月 10 日 AI PCB/存储/服务器业绩高增，封 行 业 研 究 / 行 业 点 评 相关研究 《生益电子（688183）深度：受益 AI ASIC 与交换机速率升级（AI 硬件系列之 6）》 2025/12/30 《江丰电子（300666）点评：定增拟募资 19.5 亿元，投资靶材及静电吸盘等项目》 2025/11/17 证券分析师 杨海晏 A0230518070003 yanghy@swsresearch.com 研究支持 袁航 A0230521100002 yuanhang@swsresearch.com 杨紫璇 A0230524070005 yangzx@swsresearch.com 陈俊兆 A0230124100001 chenjz@swsresearch.com 联系人 姜安然 A0230125070008 jiangar@swsresearch.com 本期投资提示： 业 及 产 业 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使 ...

Group 1 - The core viewpoint of the article highlights the performance of the Zhongzheng 1000 ETF (512100), which opened with a gain of 1.27% at 3.262 yuan on February 9 [1] - The top-performing stocks within the Zhongzheng 1000 ETF include Xiangnong Xinchuan, which rose by 2.01%, Dongxin Co., which increased by 1.29%, and Yuanjie Technology, which saw a rise of 3.89% [1] - The fund's performance benchmark is the Zhongzheng 1000 Index, managed by Southern Fund Management Co., Ltd., with a return of 21.23% since its inception on September 29, 2016, and a return of 2.36% over the past month [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]

Summary of Key Points Core Viewpoint - On February 4, a block trade of 172,800 shares of Demingli was executed, amounting to 42.5192 million yuan, which represented 2.2% of the total trading volume for the day, with an average transaction price of 246.06 yuan, reflecting a premium of 0.24% over the market closing price of 245.48 yuan [1]. Group 1 - The highest transaction price recorded was 246.18 yuan, while the lowest was 245.48 yuan [1]. - The trading volume for Demingli on the same day was 2.97 million shares at a price of 245.48 yuan, resulting in a transaction amount of 7.2908 million yuan [2]. - Another transaction involved 14.31 million shares at a price of 246.18 yuan, with a significant buyer from Southwest Securities and a seller from CITIC Securities [2].

Core Viewpoint - Demingli (001309) plans to raise up to 3.2 billion yuan through a private placement of shares to fund expansion in solid-state drives, memory products, smart storage management, and the construction of a research and development headquarters [1] Group 1: Stock Performance - As of February 3, 2026, Demingli's stock closed at 252.59 yuan, up 1.64% from the previous trading day [1] - The stock opened at 255.03 yuan, reached a high of 257.62 yuan, and a low of 248.00 yuan, with a trading volume of 2.294 billion yuan and a turnover rate of 5.65% [1] Group 2: Fundraising and Projects - The company intends to raise a total of no more than 3.2 billion yuan for the expansion of solid-state drives and memory products, smart storage management, and the construction of a research and development headquarters [1] - The project has been approved by the board of directors and the shareholders' meeting, pending review by the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission [1] Group 3: Risks - The company has indicated potential risks including fluctuations in raw material prices, performance volatility, inventory depreciation, and overseas operations [1]

Group 1 - The core point of the article is that Demingli (001309) reported a total of 65,287 shareholders as of January 30, 2026, including those with credit accounts [1]