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Today’s A-share Market Performance
Today (August 22), the market fluctuated and rose throughout the day. The Shanghai Composite Index continued to reach new highs, surpassing 3800 points, and the Sci-Tech Innovation 50 Index rose over 8%, reaching a nearly three-year high. By the close, over 2802 stocks in the Shanghai and Shenzhen A-share markets rose, with the Shanghai Composite Index up 1.45%, the Shenzhen Component Index up 2.07%, and the ChiNext Index up 3.36%. The total transaction amount in the Shanghai, Shenzhen, and Beijing markets today was 25,788 billion yuan, an increase of 118.5 billion from the previous trading day. Based on the Guojin industry classification, the digital chip design logic, wafer foundry index, and smart city software saw the largest gains, while precipitated silica, kitchen and bathroom products, and refractory materials had the largest declines.
The semiconductor sector is experiencing a dual boost from both domestic and international news.On one hand,the advancement of AI technology is driving development in the chip R&D field. On August 21, DeepSeek-V3.1 was officially released, and reports from Caixin stated that training based on this version is expected to be more widely applied to domestic AI chips in the future. On the other hand, Reuters reported that NVIDIA has requested some component suppliers to suspend production of the H20 chip. Against this backdrop, the competitiveness of domestic chips represented by Huawei’s Ascend chips is gradually increasing. According to the latest data from the World Semiconductor Trade Statistics (WSTS), the global semiconductor market size reached $346 billion in the first half of this year, a year-on-year increase of 18.9%; in the sub-sectors, logic semiconductors grew by 37%, and memory semiconductors grew by 20%. This year, the global semiconductor industry has shown vigorous development vitality. Perhaps influenced by the above news, the technology sector represented by semiconductor chips surged today, with the semiconductor equipment index soaring by 7.03%.
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Introduction to the Guojin Semiconductor Equipment Index
The Guojin Semiconductor Equipment Index covers the constituent stocks of the semiconductor equipment industry sector, using a multi-factor scoring selection and weighting method.
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Development of the Semiconductor Industry
Semiconductor equipment is a key element in chip manufacturing..Semiconductor equipment refers to a series of devices used to manufacture semiconductor chips. These devices process raw materials such as silicon wafers into chips with specific circuit structures and functions through a series of complex process steps, covering key stages such as wafer preparation, photolithography, etching, thin film deposition, ion implantation, cleaning, and inspection. Semiconductor equipment falls under the category of precision instruments and systems, and its R&D and production involve a deep integration of multiple disciplines, including mechanical engineering, electronic engineering, optics, and materials science. The technical level of semiconductor equipment affects the process accuracy, performance, and production costs of chips, thus requiring high standards for technology and manufacturing processes.
The electronic information manufacturing industry will maintain a trend of rapid development.In recent years, with the emergence of new technologies and materials, the electronic information manufacturing industry has continued to develop. As one of the important sub-sectors, the upstream industry of semiconductors mainly consists of semiconductor materials and semiconductor equipment; the midstream industry produces products mainly including integrated circuits and electronic devices. Although the growth rate of the electronic information industry has slowed in recent years, it still maintains an upward trend. According to statistics from the Ministry of Industry and Information Technology,in 2024, the revenue of China’s large-scale electronic information manufacturing industry is expected to reach 16.19 trillion yuan, a year-on-year increase of 7.3%. The artificial intelligence industry has shown strong development momentum, and according to the “Generative AI Application Development Report (2024)” released by the China Internet Network Information Center, China has initially built a relatively comprehensive AI industry system, with over 4,500 related enterprises, and the core industry scale has approached 600 billion yuan, covering key upstream and downstream links such as chips, algorithms, data, platforms, and applications.
China’s demand for integrated circuit imports is still growing.According to the “2022-2023 Global Computing Power Index Assessment Report” jointly compiled by IDC, Inspur Information, and Tsinghua University’s Global Industry Research Institute, the industries that utilize computing power the most in China are manufacturing, finance, government, and telecommunications, and more and more traditional industries are beginning to deploy liquid-cooled data centers. This indicates that China’s demand for integrated circuit imports remains at a high level, and there is still significant room for import substitution. According to data from the General Administration of Customs,the trade deficit for integrated circuits in 2021 expanded by $45.33 billion compared to 2020.
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Semiconductor Industry Policies
Efforts to enhance chip supply capacity and high-end supply levels.In August 2023, the Ministry of Industry and Information Technology issued the “Notice on the Action Plan for Stable Growth of the Electronic Information Manufacturing Industry 2023-2024,” which mentioned efforts to enhance chip supply capacity and actively coordinate communication between chip enterprises and application enterprises. In response to the development needs of the digital economy, optimize the industrial layout and enhance high-end supply levels, and strengthen the supporting capabilities of materials, equipment, and components.
Encouraging the enhancement of core electronic component supply levels and technological innovation.In January 2022, the State Council issued the “Notice on the Digital Economy Development Plan for the 14th Five-Year Plan,” proposing to focus on enhancing the supply levels of basic hardware and software, core electronic components, key basic materials, and production equipment, and to strengthen the self-sufficiency guarantee capability of key products. Implement actions to strengthen and supplement the industrial chain, enhance technological integration and product innovation for diversified application scenarios, improve the competitiveness of key links in the industrial chain, and improve the supply chain systems for key industries such as 5G, integrated circuits, new energy vehicles, artificial intelligence, and industrial internet.
Enhancing the supply capacity of key information technology products in the semiconductor industry.In January 2023, six departments, including the Ministry of Industry and Information Technology, jointly issued the “Guiding Opinions on Promoting the Development of the Energy Electronics Industry,” which proposed to develop high-temperature, high-voltage, low-loss, and highly reliable IGBT devices and modules for new energy applications such as photovoltaics, wind power, and energy storage systems, as well as advanced wide-bandgap semiconductor materials such as SiC and GaN, along with advanced topological structures and packaging technologies, new power electronic devices, and key technologies.
Risk Warning:The historical and real-time data of the Guojin Index are based on the actual market price fluctuations of the constituent stocks and the automated updates of the Guojin Index calculation engine, similar to other market indices, and represent historical simulation calculation data, not actual trading. The data interval used is:December 31, 2024–today.The content is for reference only and does not constitute investment advice.Historical index data does not predict future performance, as market conditions, policy changes, and other factors may render index investment value analysis ineffective.There are risks in the market, and investment should be cautious.
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