证券研究报告
电子
关注苹果新品和新型举国体制意见
华泰研究
电子增持(维持)
2022年9月12日│中国内地专题研究
研究员黄乐平，PhD
华泰观点：关注苹果新品和新举国体制意见SACNo.S0570521050001leping.huang@htsc
SFCNo.AUZ066+(852)36586000
上周，费城半导体涨4.7%，纳指涨4.1%，美股结束连续三周跌势，市场或已
充分反映美联储未来持续加息影响。9/8日苹果召开秋季新品发布会，产品售研究员陈旭东
SACNo.S0570521070004chenxudong@htsc
价整体和去年持平，好于市场预期，新产品WatchUltra是亮点，看好苹果产SFCNo.BPH392+(86)2128972228
业链3Q/4Q业绩增长。国内方面，中央深改委会议通过《关于健全社会主义市
场经济条件下关键核心技术攻关新型举国体制的意见》，如我们在《逆全球化下研究员张皓怡
中国科技三条发展路径》中所提，我们认为解决半导体和软件“卡脖子”问题SACNo.S0570522020001zhanghaoyi@htsc
+(86)2128972228
是不确定性中最大的确定性，看好北方华创（上周涨9.4%），中芯国际（涨6.3%）
等。电动车方面，特斯拉ModelY周期大幅缩短，留意电动车整体需求放缓。研究员刘溢
SACNo.S0570522070002liuyi020747@htsc
+(86)2128972228
A股：SW电子上涨0.1%，跑输上证指数（+2.4%）
上周全部A股日均成交额合计8,096亿元，环比跌6.2%。思瑞浦发布40.19联系人张宇
亿股（不超过总发行股份30%）定增计划，上周股价跌14.0%。深改委文件带SACNo.S0570121090024zhangyu@htsc
动北方华创（）、盛美（）、中微（）。其它涨跌幅居前企业SFCNo.BSF274+(86)1063211166
+9.4%+3.2%+1.8%
包括：德赛西威（+10.6%）、华阳集团（+8.5%），寒武纪（-10.9%）、聚辰股联系人胡宇舟
份（-8.4%）。北向资金上周合计净流出62亿元，主要增持韦尔股份、澜起科SACNo.S0570121040041huyuzhou@htsc
技、兆易创新，减持立讯精密、京东方。TMT其它板块，SW通信涨0.5%，SFCNo.BOB674+(852)36586000
SW计算机跌0.6%，SW传媒跌3.8%。联系人黄礼悦
SACNo.S0570121070191andrewhuang@htsc
港股：恒生科技指数下跌1.6%，跑输恒生指数（-0.5%）SFCNo.BRH099+(852)36586000
上周全部港股日均成交额合计703亿港元，环比跌17.3%。哔哩哔哩公布2Q22
业绩，亏损超市场预期，致股价下跌21%。根据港交所公告，Naspers继续减点击查阅华泰证券研究团队介绍和观点
持腾讯，拖累股价跌6.6%。作为华为Mate50Pro部分材料主力供应商，比亚
迪电子涨8.2%。恒生科技主要成分股中其它涨幅居前的企业包括：中芯国际
（+6.3%）、平安好医生（+4.1%），跌幅居前的企业包括：万国数据（-8.3%）、
小鹏（-5.8%）。南向资金上周合计净流入71亿元，主要增持腾讯、比亚迪、
中国移动，减持美团、联想、中芯国际。
海外：纳斯达克中概股上涨0.1%，纳指上涨4.1%，标普500上涨3.6%
上周纳斯达克中概股涨0.1%，纳指涨4.1%，标普500涨3.6%，费城半导
体指数涨4.7%。十年期美债利率上升13bp至3.33%。半导体板块涨幅居行业走势图
前为科天（+7.0%）、AMD（+6.5%）、应用材料（+5.8%），跌幅较大的为
三星电子（）、联电（）、台积电（）。互联网板块，电子沪深300
-3.3%-3.0%-2.1%SEA(%)
涨5.9%，Meta涨5.5%，亚马逊涨4.5%，谷歌涨2.9%。美股汽车板块，8
特斯拉涨10.9%，蔚来涨8.1%，理想跌0.9%，小鹏跌4.2%。比特币跌3.2%。(3)
(13)
风险提示：海外疫情升级风险，宏观下行风险，创新品渗透不及预期风险。
(24)
(34)
Sep-21Jan-22May-22Sep-22
资料来源：Wind，华泰研究
免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。1电子
图表1：科技硬件板块半导体公司上周股价变动一览
公司名称财报市值收盘价P/EP/S股价变动北向/南向资金流南向/北向资金持
代码货币（人民币亿（元交易入（亿人民币/亿股市值（亿人民币
元）货币）2022E2023E2022E2023E1W1MYTD港元）/亿港元）
半导体
002371CH北方华创CNY1,648312.592.165.811.58.59.4%10.8%-9.9%-1.166.5
301269CH华大九天CNY578106.5308.1230.973.054.08.2%8.7%42.0%n.a.n.a.
688200CH华峰测控CNY234379.838.628.218.913.86.9%5.8%-25.4%-0.512.0
688048CH长光华芯CNY177130.592.660.325.517.26.8%9.3%64.6%n.a.n.a.
603290CH斯达半导CNY708414.995.768.225.117.06.3%4.6%9.1%0.761.6
0981HK中芯国际USD1,62415.966.667.416.714.96.3%0.9%-14.6%-4.3220.5
ACMRUS盛美半导体USD6916.7N.A.N.A.N.A.N.A.4.8%-0.9%-41.1%n.a.n.a.
600703CH三安光电CNY1,10924.852.036.36.85.23.3%5.1%-33.8%-0.44.2
688082CH盛美上海CNY472108.8101.771.517.712.13.2%3.4%-14.9%n.a.n.a.
605111CH新洁能CNY224105.342.533.010.88.21.9%2.1%-16.8%0.01.7
688012CH中微公司CNY775125.870.555.217.112.61.8%2.1%-0.7%-1.652.8
300623CH捷捷微电CNY15621.226.720.06.65.01.7%1.9%-32.3%0.00.6
600460CH士兰微CNY57440.639.830.85.84.51.6%2.3%-25.0%0.111.9
603986CH兆易创新CNY767114.925.320.56.65.21.5%-0.9%-34.2%0.830.6
688396CH华润微CNY69152.326.523.46.25.21.3%-0.1%-18.8%-0.27.4
688187CH时代电气CNY70260.537.131.75.04.41.3%-2.1%-25.7%-0.710.4
1347HK华虹半导体USD25822.585.471.711.910.51.1%-3.0%-47.7%-0.837.7
002156CH通富微电CNY24418.421.316.81.21.01.1%-1.1%-5.5%-1.14.7
600584CH长电科技CNY44625.113.712.01.31.10.8%1.2%-18.5%-0.49.6
688126CH沪硅产业-UCNY55520.3249.9170.515.812.20.8%-1.4%-21.3%0.05.6
0522HKASMPTHKD21860.08.78.91.21.10.6%-1.8%-24.9%0.01.6
300373CH扬杰科技CNY29457.326.320.74.83.70.4%-2.5%-14.4%-0.39.7
688981CH中芯国际USD1,62440.225.923.46.65.8-0.5%0.0%-24.1%0.22.7
688008CH澜起科技CNY64857.247.031.515.510.5-0.7%3.0%-31.5%1.718.3
002185CH华天科技CNY3079.623.220.72.21.9-0.7%-0.3%-24.4%-0.15.1
603501CH韦尔股份CNY1,05388.921.316.63.93.1-1.1%-5.1%-61.2%3.178.0
688052CH纳芯微CNY324320.275.447.919.413.2-1.1%-2.5%23.6%n.a.n.a.
688018CH乐鑫科技CNY7593.833.222.84.43.2-1.6%-0.9%-49.9%n.a.n.a.
300327CH中颖电子CNY12937.825.319.86.24.8-2.2%-5.0%-38.3%0.25.1
688521CH芯原股份-UCNY25150.4237.4126.69.06.9-2.3%4.0%-34.9%n.a.n.a.
300672CH国科微CNY13875.7N.A.N.A.N.A.N.A.-2.5%5.6%-58.9%-0.11.4
300661CH圣邦股份CNY546153.350.537.216.011.3-2.8%-4.3%-25.4%0.323.0
300223CH北京君正CNY37878.431.524.75.74.5-3.1%-3.8%-41.4%0.34.9
688206CH概伦电子CNY16638.3346.3255.058.440.7-3.9%-2.1%4.5%n.a.n.a.
688608CH恒玄科技CNY145120.827.618.55.94.1-4.1%-14.3%-60.3%n.a.n.a.
688595CH芯海科技CNY5841.338.524.96.44.8-4.4%-2.2%-53.4%n.a.n.a.
603160CH汇顶科技CNY24754.039.927.34.73.8-5.0%-5.1%-49.7%0.01.6
603893CH瑞芯微CNY33079.039.928.28.36.0-5.1%-3.9%-41.8%0.41.1
688107CH安路科技-UCNY23057.52693.3512.119.913.4-5.7%-4.5%-19.7%n.a.n.a.
688099CH晶晨股份CNY32879.927.220.74.93.8-5.9%-7.3%-38.7%-0.28.3
300782CH卓胜微CNY50795.025.720.69.47.5-6.9%-6.6%-53.3%0.221.9
688123CH聚辰股份CNY10587.033.422.411.27.5-8.4%-2.2%28.5%n.a.n.a.
688256CH寒武纪-UCNY28972.0-30.6-39.728.319.0-10.9%21.8%-24.3%n.a.n.a.
688536CH思瑞浦CNY328409.062.336.815.610.9-14.0%-16.5%-46.7%-0.13.0
非半导体
0285HK比亚迪电子CNY46923.725.317.50.50.48.2%13.2%-16.7%0.535.4
002484CH江海股份CNY21425.634.226.14.63.73.2%3.8%-5.5%0.15.1
000049CH德赛电池CNY16354.418.215.30.70.63.1%6.9%-4.8%-1.53.2
600563CH法拉电子CNY420186.540.630.710.98.32.3%4.9%-19.0%-0.622.7
601138CH工业富联CNY1,8819.58.57.70.40.41.7%1.9%-16.3%0.344.6
000100CHTCL科技CNY5844.210.26.40.30.31.5%0.2%-30.2%0.214.1
002635CH安洁科技CNY9814.324.517.62.01.60.9%0.0%-14.9%-0.31.1
002463CH沪电股份CNY22812.017.513.22.72.30.3%0.4%-26.8%0.415.6
300115CH长盈精密CNY15913.3203.623.61.10.90.3%0.1%-33.2%-1.03.5
300408CH三环集团CNY52127.224.018.57.35.70.3%0.2%-38.4%0.218.9
688508CH芯朋微CNY7263.828.920.76.54.70.1%2.8%-44.4%n.a.n.a.
000725CH京东方ACNY1,3883.68.06.10.60.60.0%-2.2%-24.3%-3.761.6
601231CH环旭电子CNY37216.915.512.60.60.50.0%1.7%7.4%0.413.6
300296CH利亚德CNY1606.318.013.81.61.3-0.3%0.6%-37.9%-0.11.3
688301CH奕瑞科技CNY365502.459.343.822.216.5-0.4%-1.1%1.7%-2.37.1
002241CH歌尔股份CNY1,10832.420.316.11.10.9-0.5%-0.2%-39.7%-1.184.8
300433CH蓝思科技CNY53910.820.814.51.00.8-0.6%-0.4%-52.4%-0.18.4
1888HK建滔积层板HKD2037.44.24.60.90.9-1.1%-1.6%-39.1%0.01.0
002236CH大华股份CNY43914.511.08.91.21.0-1.2%-1.9%-37.4%-0.822.2
000050CH深天马ACNY2259.217.412.40.70.6-1.2%-2.9%-29.0%0.03.6
2382HK舜宇光学科技CNY983101.830.223.23.22.7-1.3%-5.7%-58.3%-2.9169.9
600183CH生益科技CNY36315.616.413.21.81.6-1.7%-1.6%-31.1%0.010.8
002415CH海康威视CNY2,73429.015.112.62.92.5-1.8%-3.0%-43.0%0.612.6
002916CH深南电路CNY42582.923.419.22.62.2-2.1%-2.4%-31.2%-0.416.7
688036CH传音控股CNY52865.714.611.01.10.9-2.2%-3.8%-57.4%-0.611.1
0992HK联想集团USD6516.134.231.51.01.0-2.2%-6.2%-29.1%-4.721.3
TUYAUS涂鸦智能USD481.2-4.5-5.32.62.0-2.4%-6.1%-80.2%n.a.n.a.
002138CH顺络电子CNY19624.323.318.03.83.0-3.2%-2.4%-35.5%0.212.6
1810HK小米集团-WCNY2,37810.821.815.70.80.7-3.2%-6.6%-42.9%-3.7366.2
2018HK瑞声科技CNY15514.520.715.80.90.8-3.5%-0.5%-52.8%0.210.8
002938CH鹏鼎控股CNY65628.316.214.01.71.5-3.7%-4.7%-32.2%-0.714.1
000636CH风华高科CNY18816.321.415.63.62.6-4.1%-4.2%-45.0%0.00.4
002475CH立讯精密CNY2,56836.225.719.51.31.0-4.4%-3.4%-26.1%-7.4199.1
300136CH信维通信CNY16016.519.814.41.71.4-4.6%-2.5%-34.7%0.11.3
6088HKFITHONTENGUSD691.154.848.71.81.7-5.3%-7.7%-29.4%0.02.4
002841CH视源股份CNY44363.618.815.31.81.5-6.1%-5.9%-20.9%0.110.0
汽车电子
002920CH德赛西威CNY873157.272.451.46.54.810.6%2.8%11.5%-1.231.2
002906CH华阳集团CNY23649.755.339.84.03.18.5%13.3%-9.1%0.02.7
300496CH中科创达CNY514120.755.640.48.76.31.5%-1.8%-12.5%0.342.3
002036CH联创电子CNY17616.649.932.51.61.41.3%1.7%-31.7%0.911.0
688326CH经纬恒润-WCNY264220.4115.481.26.24.71.0%12.1%120.4%n.a.n.a.
002405CH四维图新CNY31713.395.055.87.96.0-0.5%1.6%-16.5%-0.112.3
注：此表中北向/南向资金流入=北向/南向资金流入股数*周交易均价，使用Wind一致预期。
资料来源：Wind，华泰研究
免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。2电子
图表2：TMT板块其他主要公司上周股价变动一览
市值北向/南向资金流南向/北向资金持南向/北向资
财报货收盘价P/EP/S股价变动
代码公司名称（人民币入（亿人民币/亿股市值（亿人民金持股比例
币（当地货币
亿元）2022E2023E2022E2023E1W1MYTD港元）币/亿港元）（%）
元）
通信
CDUS秦淮数据CNY2158.68.76.11.51.110.3%1.5%30.0%n.a.n.a.n.a.
688048CH长光华芯CNY177130.592.660.325.517.26.8%9.3%64.6%n.a.n.a.0.0
600941CH中国移动CNY9,83065.411.010.11.51.44.9%5.2%20.1%-1.4n.a.0.0
0728HK中国电信CNY3,2882.88.87.90.50.54.5%3.4%19.9%-121.5n.a.0.0
601728CH中国电信CNY3,2883.812.010.70.70.73.5%4.6%-5.3%-0.6n.a.0.0
0941HK中国移动CNY9,83051.38.68.01.21.13.3%1.8%20.0%-918.0n.a.0.0
002139CH拓邦股份CNY16312.825.917.91.71.33.0%2.6%-31.1%-9.8n.a.0.0
000063CH中兴通讯CNY1,09724.813.911.80.90.82.0%1.1%-25.1%-30.9n.a.0.0
600050CH中国联通CNY1,1153.615.513.70.30.32.0%1.4%-7.3%-38.4n.a.0.0
0762HK中国联通CNY9973.76.96.30.30.31.4%1.1%2.9%-59.8n.a.n.a.
000988CH华工科技CNY21421.321.216.31.61.20.7%0.7%-23.2%-4.7n.a.0.0
002396CH星网锐捷CNY11820.314.811.30.70.50.5%1.6%-13.7%-2.5n.a.0.0
300308CH中际旭创CNY23529.320.216.52.42.00.3%0.0%-30.5%-16.0n.a.0.0
002402CH和而泰CNY15517.023.117.02.11.6-0.7%-0.4%-37.5%-5.3n.a.0.0
000938CH紫光股份CNY49017.118.715.20.60.5-1.1%-1.0%-24.7%-9.3n.a.0.0
300383CH光环新网CNY1659.218.115.92.01.9-2.3%-1.2%-37.9%-3.8n.a.0.0
300502CH新易盛CNY12224.015.012.43.42.7-2.8%-2.0%-38.4%-1.6n.a.0.0
300628CH亿联网络CNY64371.329.723.213.210.2-3.0%-0.3%-11.5%-13.8n.a.0.0
688100CH威胜信息CNY10320.622.917.24.33.2-4.0%-4.7%-39.4%n.a.n.a.0.0
002123CH梦网科技CNY9511.941.526.92.01.7-5.2%-6.4%-31.1%-2.1n.a.0.0
603236CH移远通信CNY266141.042.327.71.61.2-7.6%-4.5%-9.7%-12.1n.a.0.0
9698HK万国数据-SWCNY30322.6-24.1-25.73.73.1-8.3%-17.2%-50.2%n.a.n.a.n.a.
计算机
600845CH宝信软件CNY72341.435.527.85.54.48.5%8.9%-9.9%-44.0n.a.0.0
002153CH石基信息CNY30014.3321.3129.78.37.06.5%9.7%-30.2%-8.0n.a.0.0
688023CH安恒信息CNY114145.1123.757.84.73.54.3%7.8%-42.1%n.a.n.a.0.0
8083HK中国有赞HKD200.1-2.7120.61.10.94.3%-3.2%-77.4%n.a.n.a.n.a.
688777CH中控技术CNY38978.249.737.76.34.84.0%-1.7%3.6%-8.1n.a.0.0
688083CH中望软件CNY165190.078.556.920.515.23.5%7.3%-23.7%-1.5n.a.0.0
600570CH恒生电子CNY67135.347.435.99.87.92.7%4.9%-26.0%-84.9n.a.0.0
300454CH深信服CNY442106.3108.762.45.24.02.7%10.1%-44.3%-23.0n.a.0.0
300033CH同花顺CNY46085.723.218.711.89.82.5%0.6%-39.6%-12.1n.a.0.0
688188CH柏楚电子CNY299205.045.633.727.319.92.4%-0.5%-25.1%-9.2n.a.0.0
300496CH中科创达CNY514120.755.640.48.76.31.5%-1.8%-12.5%-43.5n.a.0.0
3888HK金山软件HKD28623.899.442.64.23.51.3%-1.0%-30.3%-35.5n.a.n.a.
2013HK微盟集团HKD783.5-11.2-29.33.63.00.9%-4.6%-55.8%-12.4n.a.n.a.
300773CH拉卡拉CNY13216.512.510.51.91.60.1%1.7%-43.1%-1.2n.a.0.0
600271CH航天信息CNY19510.618.416.90.80.8-0.2%0.6%-20.0%-0.4n.a.0.0
002065CH东华软件CNY1905.9N.A.N.A.N.A.N.A.-0.3%1.7%-23.4%-3.9n.a.0.0
002405CH四维图新CNY31713.395.055.87.96.0-0.5%1.6%-16.5%-12.2n.a.0.0
002439CH启明星辰CNY18018.917.213.73.32.7-0.6%0.4%-33.7%-19.7n.a.0.0
002268CH卫士通CNY28333.564.141.57.65.9-0.6%-0.5%-40.1%-10.1n.a.0.0
002230CH科大讯飞CNY86337.243.231.43.62.7-0.6%-0.9%-29.1%-40.7n.a.0.0
002410CH广联达CNY57948.659.044.18.46.8-0.8%-0.9%-23.5%-69.8n.a.0.0
688111CH金山办公CNY862186.867.749.921.015.8-0.8%3.7%-29.3%-34.2n.a.0.0
688561CH奇安信CNY34049.9562.7101.74.23.1-1.1%0.3%-43.2%n.a.n.a.0.0
688088CH虹软科技CNY10826.666.147.418.013.9-1.8%-1.2%-39.2%-1.2n.a.0.0
000977CH浪潮信息CNY33222.713.611.00.40.4-2.0%-2.2%-36.3%-7.4n.a.0.0
0200HK商汤科技HKD654.9N.A.N.A.N.A.N.A.-2.6%-5.6%-48.6%-1.0n.a.n.a.
300253CH卫宁健康CNY1486.930.323.64.43.6-3.0%-3.0%-58.9%-6.3n.a.0.0
600588CH用友网络CNY67119.587.363.36.35.2-3.0%-2.7%-45.2%-49.2n.a.0.0
002373CH千方科技CNY1499.419.414.51.31.1-3.6%-3.0%-37.0%-1.1n.a.0.0
0268HK金蝶国际HKD41013.4-138.0-250.69.07.2-4.1%-12.5%-44.2%-67.7n.a.n.a.
传媒&互联网
002739CH万达电影CNY25311.6-186.121.72.21.74.4%2.0%-25.1%-0.9n.a.0.0
3690HK美团HKD9,799179.9-106.9204.85.03.82.1%-5.2%-20.2%-965.3n.a.n.a.
9618HK京东集团HKD6,693243.4107.448.90.70.6-0.2%-1.4%-9.1%-17.9n.a.n.a.
9988HK阿里巴巴HKD16,74789.820.016.92.11.8-0.9%-4.8%-24.5%n.a.n.a.n.a.
9888HK百度HKD3,344137.442.026.83.02.6-1.4%-2.9%-5.0%n.a.n.a.n.a.
9999HK网易-SHKD4,004138.524.821.54.64.1-1.6%-2.3%-11.0%n.a.n.a.n.a.
1024HK快手-WHKD2,44064.5-17.8-52.02.92.4-3.4%-6.3%-10.5%-232.9n.a.n.a.
300413CH芒果超媒CNY50627.121.418.23.12.7-3.5%-2.7%-52.5%-13.8n.a.0.0
002027CH分众传媒CNY8135.620.113.26.95.3-3.9%-7.1%-29.7%-116.6n.a.0.0
300251CH光线传媒CNY2649.034.025.613.010.5-4.3%-2.6%-28.1%-7.3n.a.0.0
002555CH三七互娱CNY42819.312.811.22.32.0-4.8%-5.3%-27.3%-34.9n.a.0.0
002624CH完美世界CNY27214.014.813.02.92.4-4.9%-5.1%-24.8%-11.6n.a.0.0
0772HK阅文集团HKD26529.426.419.63.53.1-5.6%-8.3%-40.1%-31.8n.a.n.a.
0700HK腾讯HKD25,994307.025.419.85.14.5-6.6%-6.2%-30.4%-2243.8n.a.n.a.
9626HK哔哩哔哩-SWHKD523152.1-7.5-10.72.62.0-20.9%-20.0%-57.6%n.a.n.a.n.a.
注：此表中北向/南向资金流入=北向/南向资金流入股数*周交易均价，使用Wind一致预期。
资料来源：Wind，华泰研究
免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。3
fUdV9XzVoOnO6MaO7NsQqQmOsQeRmMyRjMnMpN9PqRtPxNoOoQNZoNoQ电子
图表3：恒生科技指数成份股票涨跌幅
代码公司板块分类成分占比交易货币市值股价股价涨跌幅
（亿元港币）（港币元）1W30DYTD
恒生科技指数成份
0285HK比亚迪电子资讯科技1.15%HKD67923.658.2%13.2%-41.1%
0981HK中芯国际资讯科技4.95%HKD2,35015.946.3%0.9%-27.9%
1833HK平安好医生医疗保健业0.76%HKD31021.754.1%1.6%-76.9%
6060HK众安在线金融业1.15%HKD44023.503.8%1.5%-35.1%
3690HK美团资讯科技8.21%HKD14,182179.902.1%-5.2%-38.9%
6690HK海尔智家非必须性消费4.40%HKD3,36825.951.8%0.6%-4.2%
9961HK携程集团-S非必须性消费0.76%HKD1,647201.401.6%-2.3%-28.1%
3888HK金山软件资讯科技1.50%HKD41423.751.3%-1.0%-52.1%
1347HK华虹半导体资讯科技0.95%HKD37422.501.1%-3.0%-48.9%
9618HK京东集团资讯科技8.89%HKD9,686243.40-0.2%-1.4%-27.1%
9988HK阿里巴巴资讯科技8.21%HKD24,23789.80-0.9%-4.8%-61.4%
9866HK蔚来非必须性消费0.64%HKD3,105144.00-1.0%-9.3%-9.4%
2382HK舜宇光学科技工业5.39%HKD1,423101.80-1.3%-5.7%-39.1%
0241HK阿里健康医疗保健业1.51%HKD7604.41-1.3%-3.1%-80.7%
9888HK百度资讯科技4.64%HKD4,839137.40-1.4%-2.9%-45.5%
6618HK京东健康医疗保健业4.28%HKD2,13452.70-1.5%-3.6%-64.9%
9999HK网易-S资讯科技6.11%HKD5,795138.50-1.6%-2.3%-4.3%
0992HK联想集团资讯科技3.29%HKD9436.10-2.2%-6.2%-9.6%
0200HK商汤科技资讯科技0.17%HKD944.89-2.6%-5.6%-67.6%
1810HK小米集团-W资讯科技8.19%HKD3,44110.80-3.2%-6.6%-67.5%
1024HK快手-W资讯科技6.96%HKD3,53164.50-3.4%-6.3%-78.5%
2018HK瑞声科技工业0.74%HKD22414.54-3.5%-0.5%-66.2%
0268HK金蝶国际资讯科技2.61%HKD59313.40-4.1%-12.5%-57.6%
2015HK理想非必须性消费2.64%HKD2,751103.60-4.9%-10.1%-11.5%
0909HK明源云资讯科技0.45%HKD1465.87-5.0%-9.8%-87.6%
0772HK阅文集团非必须性消费1.03%HKD38329.35-5.6%-8.3%-51.8%
9868HK小鹏非必须性消费0.87%HKD1,38062.90-5.8%-14.7%-61.9%
0700HK腾讯资讯科技7.66%HKD37,619307.00-6.6%-6.2%-43.5%
9698HK万国数据资讯科技0.49%HKD43822.55-8.3%-17.2%-75.0%
9626HK哔哩哔哩-SW资讯科技1.37%HKD757152.10-20.9%-20.0%-81.0%
注：市值、股价取9月9日收盘价，采用Wind汇率
资料来源：Wind，华泰研究
免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。4电子
图表4：全球主要科技股票涨跌幅
代码公司交易货币市值股价股价涨跌幅
（百万美元）9-Sep1W30DYTD
软件
SHOPUSSHOPIFYShopifyUSD43,90834.8115.6%10.0%-69.2%
SNOWUSSNOWFLAKESnowflakeUSD60,221188.199.7%4.0%-33.1%
NOWUSSERVICENOWServiceNowUSD94,946470.038.2%8.1%-14.6%
ADBEUSADOBE奥多比USD184,757394.787.2%5.7%-21.1%
CRMUSSALESFORCE塞富时USD162,590162.595.8%4.1%-26.9%
MSFTUSMICROSOFT微软USD1,972,314264.463.3%1.1%20.7%
ACNUSACCENTURE-A埃森哲USD193,126290.552.3%0.7%13.6%
半导体
KLACUSKLA科天USD50,861358.677.0%4.2%41.5%
AMDUSADVANCEDMICRODEVICESAMD超威半导体USD137,94485.456.5%0.7%-6.8%
AMATUSAPPLIEDMATERIAL应用材料USD83,02896.515.8%2.6%13.4%
IFXNTRINFINEONTECHNOLOGIES英飞凌EUR33,24525.335.5%4.0%-19.7%
NVDAUSNVIDIA英伟达USD358,236143.875.5%-4.7%10.4%
LRCXUSLAMRESEARCH拉姆研究USD61,751450.784.8%2.9%-3.0%
TXNUSTEXASINSTRUMENTS德州仪器USD156,006170.744.7%3.3%8.6%
AVGOUSBROADCOM博通USD211,573522.404.4%4.7%24.7%
NXPIUSNXPSEMICONDUCTORS恩智浦USD44,153168.143.5%2.2%8.0%
ASMLNAASMLHOLDING阿斯麦EUR201,703497.902.8%2.7%25.2%
QCOMUSQUALCOMM高通公司USD148,292132.052.8%-0.2%-10.4%
MUUSMICRONTECHNOLOGY镁光USD63,36557.442.0%1.6%-23.2%
8035JPTOKYOELECTRON东京电子JPY47,11642,930.000.9%-2.8%11.8%
INTCUSINTEL英特尔USD129,17531.460.8%-1.4%-33.5%
2454TTMTK联发科TWD32,469623.000.5%-6.6%-16.6%
000660KSSKHYNIXSK海力士KRW47,91190,400.00-1.4%-5.0%-23.7%
2330TTTSMC台积电TWD422,819475.00-2.1%-5.9%-10.4%
2303TTUMC联电TWD15,26539.30-3.0%-4.4%-16.6%
005930KSSAMSUNGELEC三星电子KRW241,63955,600.00-3.3%-6.9%-31.4%
互联网
SEUSSEASEAUSD35,40063.475.9%2.4%-68.1%
METAUSMETAPLATFORMSMetaUSD454,599169.155.5%3.8%-38.1%
AMZNUSAMAZON亚马逊USD1,357,695133.274.5%5.1%-18.2%
GOOGUSALPHABET-C谷歌USD1,450,283111.782.9%2.4%27.6%
3690HKMEITUAN-W美团HKD141,815179.902.1%-5.2%-38.9%
1024HKKUAISHOU-W快手HKD35,30964.50-3.4%-6.3%-78.5%
0700HKTENCENT腾讯HKD376,189307.00-6.6%-6.2%-43.5%
硬件
6861JPKEYENCEKEYENCEJPY91,58253,940.005.2%2.1%-6.7%
CSCOUSCISCOSYSTEMS思科USD188,06245.772.6%2.3%7.6%
AAPLUSAPPLE苹果USD2,529,054157.371.0%0.1%19.8%
1810HKXIAOMI-W小米HKD34,41110.80-3.2%-6.6%-67.5%
汽车
RIVNUSRIVIANAUTOMOTIVERivianUSD34,40337.5517.1%14.8%-62.7%
TSLAUSTESLA特斯拉USD939,038299.6810.9%8.7%27.4%
NIOUSNIO蔚来USD31,04619.168.1%-3.8%-60.7%
LCIDUSLUCIDGROUPLucidUSD25,22615.08-0.5%-1.7%50.6%
LIUSLIAUTO理想（美股）USD27,51426.33-0.9%-8.5%-8.7%
9866HKNIO-SW蔚来（港股）HKD31,046144.00-1.0%-9.3%-9.4%
1211HKBYDCOMPANY比亚迪HKD104,392221.60-3.0%-8.5%9.2%
XPEVUSXPENG小鹏（美股）USD13,80016.03-4.2%-13.4%-62.6%
2015HKLIAUTO-W理想（港股）HKD27,514103.60-4.9%-10.1%-11.5%
9868HKXPENG小鹏（港股）HKD13,80062.90-5.8%-14.7%-61.9%
指数
SOX.GI费城半导体指数2,721.84.7%1.7%-31.0%
IXIC.GI纳斯达克指数12,112.34.1%2.5%-22.6%
SPX.GI标普5004,067.43.6%2.8%-14.7%
106752.MIMSCI全球信息科技427.62.9%0.7%-25.6%
HXC.O纳斯达克中概股7,202.50.1%-4.2%-19.0%
注：市值、股价取9月9日收盘价，采用Wind汇率
资料来源：Wind，华泰研究
免责声明和披露以及分析师声明是报告的一部分，请务必一起阅读。5