1、Summary of “In the Era of DeepSeek, ASIC Chips Crowned as Kings”
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With rapid iterations of models like GPT-4.5, Grok-3, Claude 3.5, and LLaMA 4, the number of domestic generative AI users has surpassed 300 million, leading to a massive demand for inference computing power.
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NPU (Edge AI) is suitable for terminal devices such as automotive, IoT, and smart home applications. Domestic manufacturers (Anmou, Chipone, and Andes Technology) are rapidly advancing deployment alongside global IP providers (Arm, Synopsys).
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ASIC technology is flourishing, encompassing various subfields such as TPU, LPU, and NPU, with investment opportunities widely distributed across cloud computing, edge AI, and custom chip design services.
2、Summary of “Top 5 Advanced Packaging Listed Companies and the Competitive Landscape of Domestic Packaging and Testing Industry”
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Advanced packaging technologies such as 2.5D/3D packaging, Chiplet, and SiP are continuously breaking through, effectively enhancing integration, heat dissipation, and system performance, especially suitable for AI, high-performance computing (HPC), and automotive-grade chips.
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Emerging markets such as AI, automotive electronics, and IoT are driving the growth of advanced packaging demand; the trend of domestic substitution is rapidly enhancing the technical capabilities of local packaging manufacturers.
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Chiplet packaging allows flexible integration of IP modules with different process nodes, making it suitable for large model AI chips, with typical clients including AMD, NVIDIA, and Apple.
3、Summary of “New Regulations Ignite Semiconductor Surge”
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Promoting an integrated domestic substitution chain of “manufacturing-equipment-materials” benefits domestic semiconductor equipment companies such as Northern Huachuang (etching), Zhongwei Company (etching + ALD), Tuojing Technology, and Shengmei Semiconductor.
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Domestic packaging + ASIC/automotive chip design:Changdian Technology, Tongfu Microelectronics, and Yongsil Electronics, although packaging no longer determines the “country of origin”, its high degree of localization is expected to form a complete domestic chain.
4、Summary of “Analysis of the Chinese Automotive Chip Industry Chain and Investment Layout for 2025”
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Driven by the strong trends of electrification and intelligence, the demand for automotive chips continues to grow rapidly, and the industry chain has formed a self-controllable basic framework from upstream materials and equipment to midstream design and manufacturing, and downstream intelligent vehicle systems.
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Opportunities in the industry chain span upstream manufacturing fundamentals, midstream chip design and manufacturing, and downstream intelligent cockpit and intelligent driving applications, recommending a core strategy of “domestic substitution + independent technological breakthroughs” for medium to long-term layout.
5、Summary of “Gold Prices Surge, Reaching the Largest Single-Day Increase in 5 Years! Gold Jewelry Price Returns to 960 Yuan/Gram”
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The current rise in gold prices is a result of weakened trust in the dollar + global risk aversion demand release + central bank actions resonance, not just a simple short-term trend, but a “revaluation of asset anchors” under the global monetary system game.
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The current rise in gold is not inflated but reflects a systemic revaluation of safe-haven assets, representing a strategic trend under the logic of global asset allocation and reconstruction of the monetary system.