Technology · 10.1

Semiconductor Value Chain

Quantified news impact based on deduplicated, quality-reviewed events in a single 7-day window.

Average net impact+12weighted per event

Average gross impact15absolute weighted average

Events111same period

Confidence76%model average

Raw intensity63before weighting

Previous period+29net impact

Gross change-54%

Diffusion speed15.9 / day

Concentration2%

Direction disagreement18%

Source independence97%26 sources

IMPACT TREND

7-day effective impact

Positive 85 · Negative 9 · Mixed 17

+330-33

28 Jul, 0123 events

28 Jul, 1514 events

29 Jul, 0515 events

29 Jul, 1912 events

+10

30 Jul, 099 events

+16

30 Jul, 2311 events

+19

31 Jul, 1310 events

1 Aug, 032 events

1 Aug, 170 events

+20

2 Aug, 071 event

+17

2 Aug, 217 events

+30

3 Aug, 117 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate3%55 cumulative effective impact

Short term36%579 cumulative effective impact

Medium term53%863 cumulative effective impact

Long term8%128 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 6 of 11 · 109 events

Macro4

Macro29 Jul, 19:58positive

Shenzhen Aims for Strategic Emerging Industries to Hit 2.3 Trillion Yuan, 45% of GDP by 2030

Shenzhen's municipal authorities have issued a plan to develop new quality productive forces and cultivate strategic emerging industries and future industries. By 2030, the city aims for the value-added of strategic emerging industries to reach RMB 2.3 trillion, accounting for 45% of its gross domestic product, with advanced manufacturing as the backbone of a modern industrial system.

Effective: +13
Intensity: 80
Confidence: 70%
Horizon: Long term

Macro28 Jul, 11:00positive

2026 H1 Tax Revenue Up 4.9%, Tax Cuts Release 1.91 Trillion Yuan, Emerging Sectors Strong

In the first half of 2026, China's tax authorities collected 16.7 trillion yuan in tax and fee revenue, with tax revenue (excluding customs-levied import taxes and export rebates) exceeding 10 trillion yuan, up 4.9% year-on-year. Tax cuts and refunds supporting innovation and manufacturing released 1.91 trillion yuan. High-tech industry sales rose 15%, digital economy core industry sales increased 8.7%, and active business entities grew 20.2%. The tax authorities recovered 180.6 billion yuan from tax violations, up 20.8%.

Effective: +13
Intensity: 70
Confidence: 85%
Horizon: Short term

Macro28 Jul, 11:40positive

Tax data for H1 2026 confirms economic rebound, clean energy and high-tech show strong growth

Tax data in the first half of 2026 reflected a strengthening economy, with active business entities up 20.2% and tax revenue exceeding 10 trillion yuan, a 4.9% increase. Industrial sales rose 7.1%, and equipment investment surged 9.8%. High-tech and clean energy sectors registered strong growth. Personal income tax rose 13% to become the third-largest tax, with over 100 million taxpayers obtaining refunds exceeding 150 billion yuan. The tax bureau's crackdown on 'invoice economy' caused related invoices to fall 37.7%, and tax content per 100 yuan of invoices rose 13.7%. VAT revenue hit 3.87 trillion yuan, up 6%, as new general taxpayers jumped 25.2%. Smart tax services covered 85% of matters, cutting processing times by 20%; departure tourist refunds soared 366%.

Effective: +12
Intensity: 62
Confidence: 82%
Horizon: Medium term

Macro29 Jul, 18:34positive

Shanghai Guotou Xian Dao Fund: 900 Billion Yuan Mother Funds Invest 565 Billion Yuan

At the 2026 Science and Technology Innovation Industry Integration Development Conference, Wen Zhi, General Manager of Shanghai Guotou Xian Dao Fund, stated that the three major leading industry mother funds total RMB 900 billion, with cumulative investment decisions of RMB 565 billion and disbursements of RMB 340 billion, leveraging over RMB 2.5 trillion in social capital. Direct investments exceed 70% into early-stage and small enterprises, while 55 sub-funds allocate over 80% to such projects. Wen Zhi outlined four practices addressing the challenges of early-stage investing, supported by policies from 2025 and 2026.

Effective: +12
Intensity: 60
Confidence: 80%
Horizon: Long term

Industries3

Industries28 Jul, 12:45positive

NVIDIA Notifies AIC Partners of Full Price Adjustment for RTX 50 Series, Domestic Prices Rise 15% to 25%

NVIDIA last week notified AIC partners of a comprehensive price adjustment for the RTX 50 series graphics cards, leading to a 15% to 25% price increase across the lineup in China. The adjustment, the first such broad move since 2000, was driven by rising GDDR7 memory costs. Some RTX 5060 Ti non-reference models saw overnight increases of nearly 2,000 yuan.

Effective: +14
Intensity: 80
Confidence: 90%
Horizon: Short term

Industries28 Jul, 08:39positive

Q2 2026 Mutual Fund Electronics Heavy Holdings Surge 155.46% to RMB 1.58 Trillion, 39.08% of Total, Overweight

In the second quarter of 2026, mutual fund heavy holdings in the electronics sector reached RMB 1,583.888 billion, up 155.46% quarter-on-quarter. The sector accounted for 39.08% of total fund heavy holdings, a quarter-on-quarter increase of 19.64%, and was overweight by 16.07%. Within the sector, the share of components rose while consumer electronics, semiconductors, other electronic components II, and optoelectronics declined slightly. Since July, the sector has undergone significant adjustments with valuations retreating. Fundamentals show increasing order certainty for semiconductor equipment, rising domestic computing orders and supply chain stocking, AI server demand driving PCB and AI power supply growth, continued memory price increases, and related activities spreading to consumer electronics.

Effective: +14
Intensity: 78
Confidence: 80%
Horizon: Medium term

Industries31 Jul, 19:05positive

Beijing Satellite Town Lit, Strategic Agreement Signed; Shanghai 'Star Hub Plan' Debuts Three Satellites

Beijing and Shanghai are accelerating the development of space-based data centers. Beijing's satellite town was officially lit on July 24, with 10 companies signing strategic agreements, as part of a 'south rockets, north satellites' layout that includes over 300 commercial space firms. Shanghai's 'Star Hub Plan' launched a three-satellite cluster using laser interlinks, with a phased expansion to 2,000 satellites. The initiatives aim to overcome technical challenges in space computing, including energy and heat dissipation, while exploring commercial applications.

Effective: +12
Intensity: 50
Confidence: 65%
Horizon: Medium term

Companies3

Companies28 Jul, 19:23positive

Starchip Technology Forecasts 2026 H1 Net Profit Up 583%-650%, Robot Chip Shipments Top 10 Million

Starchip Technology forecast its 2026 first-half net profit attributable to shareholders at RMB 820 million to RMB 900 million, surging 583% to 650% year-on-year, with revenue climbing 87% to 94% to RMB 2.62 billion to RMB 2.72 billion. The company's 2025 robot chip shipments exceeded 10 million units. Starchip, the world's largest visual AI SoC supplier in 2024 with a 26.7% global share and a 41.2% security market share, also acquired a 53.3087% stake in Furui Kun Microelectronics in late 2025. MediaTek remains its largest shareholder with 28.74%.

Effective: +14
Intensity: 80
Confidence: 85%
Horizon: Short term

Companies29 Jul, 07:18positive

SK Hynix Ships HBM4 in Volume in Q2 2026, HBM4E Samples Delivered in First Half

SK Hynix disclosed in its second-quarter 2026 earnings report that it has commenced volume shipments of HBM4 in the quarter, with plans to expand production in the second half of the year. The company also delivered HBM4E samples in the first half of 2026, using an optimal process that balances technological maturity and production stability. These developments mark progress in next-generation high-bandwidth memory for high-performance computing and AI applications.

Effective: +13
Intensity: 70
Confidence: 80%
Horizon: Short term

Companies28 Jul, 23:19positive

Tianfu Communication Board Secretary Says AI Drives Optical Interconnection; Stock Drops 13.21%

On July 28, Tianfu Communication's stock fell 13.21%, though its year-to-date gain remains 25.41%. The company's board secretary said AI computing power is driving demand for optical interconnection, with optical components as a key infrastructure. Tianfu Communication has begun mass production of its 1.6T optical engine and is delivering CPO-related FAU and ELS products. The company is expanding capacity in Suzhou, Jiangxi, and Thailand, with the Suzhou R&D center starting construction in April 2026.

Effective: +12
Intensity: 70
Confidence: 80%
Horizon: Medium term