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Today’s A-share Market Performance
Today (August 13), the market fluctuated upward throughout the day. By the close, over 2730 stocks in the Shanghai and Shenzhen markets rose, with the Shanghai Composite Index up 0.48%, the Shenzhen Component Index up 1.76%, and the ChiNext Index up 3.62%. The total transaction amount in the Shanghai, Shenzhen, and Beijing markets today was 21.752 billion yuan, an increase of 270 billion compared to the previous trading day. Based on the classification by Guojin Securities, electronic gases, optical communication modules, and PCBs had the largest gains, while concrete products, city commercial banks, and coking coal mining had the largest declines.
Today, the semiconductor industry performed exceptionally well. From the perspective of domestic policy, on August 5, the People’s Bank of China and six other departments jointly issued the “Guiding Opinions on Financial Support for New Industrialization.” The opinions specifically guide banks to provide medium- and long-term financing for key industrial chains in manufacturing, such as integrated circuits, basic software, industrial software, and advanced materials. Additionally, there is a global focus on the semiconductor industry, with the U.S. government also paying close attention to the chip industry. On August 7, Wall Street Journal reported that the Trump administration proposed a 100% tariff on semiconductors, with exemptions for companies that have already committed to moving production to the U.S. Furthermore, on August 12, Financial Associated Press reported that Trump mentioned he might allow NVIDIA to sell a “special version” of the Blackwell AI chip in China. The Financial Associated Press reported that the Ministry of Foreign Affairs responded, stating that China has repeatedly expressed its principled position on the issue of chip exports to China, hoping the U.S. will take practical actions to maintain the stability and smoothness of the global supply chain. Influenced by the above news, the semiconductor materials index surged today by 5.82%.
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Introduction to the Guojin Semiconductor Materials Index
Guojin Semiconductor Materials Index covers constituent stocks in the semiconductor wafer, semiconductor materials, semiconductor electronic chemicals, and electronic gases sectors, using fundamental quality factor scoring for selection and weighting.
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Development of the Semiconductor Materials Industry
The semiconductor materials market has vast potential. Semiconductor materials are a class of materials with unique electrical properties, whose conductivity lies between that of conductors and insulators. These materials are widely used in electronics, military, communications, and computing fields. There are many types of semiconductor materials, including elemental semiconductors like silicon (Si) and germanium (Ge), as well as compound semiconductors like gallium arsenide (GaAs) and silicon carbide (SiC). Semiconductor materials are involved throughout the entire semiconductor production process and can be divided into manufacturing materials and packaging materials. According to statistics from the Semiconductor Equipment and Materials International (SEMI), China and South Korea are the main consumption regions for semiconductor materials, accounting for over 50% of the total.
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 an important sub-sector, the upstream of the semiconductor field mainly consists of semiconductor materials and semiconductor equipment; the midstream industry primarily produces 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, the added value of the electronic information manufacturing industry above designated size increased by 3.4% year-on-year in 2023. The artificial intelligence industry has shown strong development momentum, with the “2024 China New Generation Artificial Intelligence Technology Industry Development Report” released at the 2024 World Intelligent Industry Expo indicating that the scale of China’s core AI industry reached 578.4 billion yuan in 2023, with a growth rate of 13.9%.
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Policies in the Semiconductor Materials Industry
The raw materials industry’s “Three Products” initiative promotes the development of the semiconductor industry. In September 2022, the Ministry of Industry and Information Technology, the State-owned Assets Supervision and Administration Commission, and other departments issued the “Implementation Plan for the ‘Three Products’ of the Raw Materials Industry,” which proposed development goals to significantly enhance the support capabilities of products and services such as high-temperature alloys, high-performance special alloys, semiconductor materials, high-performance fibers, and composite materials by 2025.
Enhancing the supply capacity of key information technology products in the semiconductor materials industry. In January 2023, the Ministry of Industry and Information Technology and six other departments jointly issued the “Guiding Opinions on Promoting the Development of the Energy Electronics Industry,” which proposed the development of 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 like SiC and GaN, along with advanced topological structures and packaging technologies, and new power electronic devices and key technologies.
Strengthening low-carbon development in the semiconductor materials industry. In July 2022, the Ministry of Industry and Information Technology and three other departments jointly issued the “Implementation Plan for Carbon Peak in the Industrial Sector,” which proposed focusing on electronic materials, components, and typical electronic products to vigorously promote improvements in production processes for monocrystalline silicon, electrode foil, magnetic materials, lithium battery materials, electronic ceramics, electronic glass, optical fibers, and optical fiber preforms. Accelerating the promotion of closed-loop manufacturing processes for polysilicon, advanced crystal pulling technologies, energy-saving optical fiber preform and drawing technologies, and clean production technologies for printed circuit boards is also emphasized.
Risk Warning: The historical and real-time data of the Guojin Index are based on the actual market price fluctuations of constituent stocks and the automated updates of the Guojin Index calculation engine. Similar to other market indices, these are historical simulation calculation data and do not represent actual trading. The data range used is from December 31, 2024, to 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 invalidate the analysis of investment value. The market carries risks, and investments should be made cautiously.
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