Domestic chip concept stocks approached a 20CM limit-up, and institutions conducted intensive surveys on related publicly listed firms last week.

According to Choice data, as of last Sunday, a total of 278 publicly listed firms in the Shanghai and Shenzhen stock markets received institutional surveys this week. By industry, electronics, machinery equipment, and basic chemicals saw the highest frequency of institutional surveys. Additionally, industries such as communications and food & beverages gained more attention. In terms of specific sectors, auto parts, general equipment, and chemical products ranked as the top three most followed by institutions. Moreover, components and computer equipment industries also saw increased institutional attention. Among specific listed firms, Yunnan Baiyao and CIMC Vehicles received the most surveys, each reaching four times. In terms of institutional visits, 12 companies hosted over 100 institutional visits, with Luxshare Precision, Anker Innovations, and Jinpan Technology ranking top three, hosting 500, 262, and 262 institutional visits respectively. Market-wise, domestic chip concept stocks performed actively this week. On Friday, Bright Power Semiconductor released an institutional survey summary, stating that in 2024, the company saw varying increases in the sales revenue share of its AC/DC power supply chips and motor control driver chips. Its high-performance computing power supply chips have entered mass production, with sales revenue up 1,402.25% YoY. Additionally, the company's product, the 16-phase dual-rail digital PWM controller BPD93136, among other combined solutions, complies with NVIDIA's latest OpenVReg power specifications OVR16 and OVR4-22, making it the first domestic power supply chip company to enter NVIDIA's recommended supplier list. Furthermore, the company currently does not directly import from or export to the US, with existing business mainly focused on domestic sales, and the latest US tariff policy has not had a substantial impact on its business. In the secondary market, Bright Power Semiconductor's stock closed up nearly 18% on Friday. On Wednesday, Maxscend released an institutional survey summary, stating that its 6-inch filter production line has achieved a comprehensive product layout, with mass production capabilities for duplexers/quadplexers and single-chip multi-band filters, and has reached the first-phase capacity target of 10,000 wafers per month, with the second-phase capacity planned to increase to 16,000 wafers per month. Integrated self-produced filter modules and other products have been successfully introduced to multiple brand customers and are continuously scaling up. Additionally, by the end of 2024, the company's 12-inch wafer production line is expected to achieve a capacity of 5,000 wafers per month. Moreover, based on self-supply and technological capability building, the relevant tariff policies have had a relatively small impact on the company's operations. In the secondary market, Maxscend's stock closed up over 13% on Friday. On Thursday, Chipsea released an institutional survey summary, stating that in the robotics field, the company has explored and cooperated with relevant customers around key applications such as electronic skin and six-dimensional force sensors. Additionally, the company has broken through markets long monopolized by overseas companies in areas such as mobile phones, laptops, and drones, with multiple chips successfully achieving domestic substitution, such as high-precision ADC chips, EC series chips, PD chips, BMS chips, and sensor conditioning chips. In the secondary market, Chipsea's stock closed up over 10% on Friday. On Friday, MicroChip released an institutional survey summary, stating that the automotive electronics field is a key focus for the company, with about 7 million automotive-grade MCU products shipped in 2024. In 2025, the first-generation automotive-grade products have started scaling, and the second-generation products have been produced. Additionally, for mid-to-high-end application markets, reciprocal tariffs have increased the price of imported chips, reducing their competitiveness and providing opportunities for domestic chips, potentially accelerating the process of domestic substitution. Therefore, the reciprocal tariff policy presents a rare opportunity for the company's products to enter mid-to-high-end application markets. On Friday, ZKLink released an institutional survey summary, stating that the company's BLE chips are currently used in Honor's personal care and sports health products. Cloud platforms such as Tencent and Honor have been connected and achieved mass production shipments. In the smart wearable sector, the company's AB569x chips have been applied in the smartwatches of Titan's sub-brand Fastrack in India. Additionally, based on the company's tracking and communication with downstream customers, foreign end-user customers are mainly distributed in third-world countries and emerging markets such as India, Southeast Asia, and Africa, with a small proportion exported to the US, and the recent US government's tariff hike on China has had a relatively small impact on the company's overall business. On Friday, Raytron released an institutional survey summary, stating that in 2024, the company continued to deepen its focus on AI, achieving several important advancements from chip design to end-use products. The second-generation ASIC image processing chip has been fully introduced in new products. The prototype development of the third-generation infrared image processing SOC chip has been completed, reconstructing the AI-ISP algorithm for infrared image processing, significantly improving the overall image quality and scene adaptability, while iteratively upgrading the AI super-resolution algorithm for better image contrast and detail presentation. On Friday, Lihe Micro released an institutional survey summary, stating that the company's chip products have a vast market space in the PV field. In the smart PV field, the company has independently developed a PLC power line communication PV module rapid shutdown chip and module that complies with the SUNSPEC protocol standard, becoming the first domestic chip to pass the certification of the international CSA testing and certification agency, and has been awarded the certification for compliance with the SUNSPEC communication specification for PV module-level rapid shutdown. The company has launched a narrowband PLC SoC chip and module with a built-in 32-bit Risc-V MCU that complies with the EN50065-1 standard for the European market, meeting the application needs of PLC transmission communication for PV intelligence in the European market.

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Domestic chip concept stocks approached a 20CM limit-up, and institutions conducted intensive surveys on related publicly listed firms last week.

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