<p><strong>源杰在周五的中国大陆股市中夺得头把交椅，超越了贵州茅台，使得芯片制造商成为交易的中心。这家中国激光芯片公司的股价上涨了多达 9.6%，创下了¥1,439 的历史新高。</strong></p>
<p>与此同时，中国最大的酿酒商茅台在报告其 20 年来首次出现销售和利润双双下滑后，录得一年内最严重的跌幅。</p>
<p>今年的数据也说明了问题。源杰的股票在 2026 年已经翻了一番。STAR 50 指数上涨了 5.8%。由于国内需求疲软，国内消费品股票的指数下跌超过 4%。</p>
<p>在周五，其他中国光学公司股价上涨，此前中际光电发布的第一季度业绩超出预期。高盛对该行业的前景也变得更加乐观。中际作为源杰的主要客户，股价上涨了多达 5.8%，创下历史新高。</p>
<h3>中国交易员推动芯片制造商，AI 需求让科技交易持续活跃</h3>
<p>中国的这一走势发生在台积电和 ASML 发布了强劲的业绩之后。对 AI 芯片的需求依然强劲。台积电表示第一季度利润跃升 58%，超出预期，并创下新纪录。这是该公司连续第四个季度创下利润新高。</p>
<p>在财报电话会议上，首席执行官魏哲家表示：“与 AI 相关的需求依然非常强劲。” 尽管如此，台积电的股价在周四下跌了约 3%。</p>
<p>市场反应显示出大型芯片制造商让投资者印象深刻变得多么困难。台积电第一季度的收入中有 61% 来自高性能计算，这一细分市场包括为其最大客户英伟达制造的 AI 芯片。</p>
<p>这一比例较上个季度的 55% 有所上升。即便如此，股票仍然下跌。</p>
<p>ASML 也面临同样的压力。这家荷兰芯片设备制造商在周三下跌了多达 6.5%，随后缩减了损失，最终收盘下跌约 2.5%。周四股价再次下滑 3%。</p>
<p>该公司发布了强劲的第一季度业绩并提高了指引，但这仅仅符合预期。对向中国销售减少的担忧依然受到关注。</p>
<h3>欧洲初创企业追逐融资，而华盛顿收紧对中国的限制</h3>
<p>台积电和 ASML 的疲软股市反应现在笼罩在更广泛的芯片制造商群体之上，随着财报季的推进。上个季度，英伟达报告了强劲的第四季度业绩，但仍遭遇了 5% 的抛售。高期望已成为整个行业的问题。</p>
<p>投资者正在支持欧洲初创企业，试图建立替代英伟达图形处理单元的产品。荷兰初创企业 Euclyd 在前 ASML 首席执行官 Peter Wennink 的支持下，正在讨论至少 1 亿欧元（约合 1.18 亿美元）的融资轮，创始人 Bernardo Kastrup 向 CNBC 透露。</p>
<p>在英国，Optalysys 计划在今年晚些时候融资超过 1 亿美元。英国初创企业 Fractile 和法国的 Arago 也据报道在寻求九位数的融资。</p>
<p>仅在 2026 年，投资者已经向荷兰的 Axelera 和英国的 Olix 投入了超过 2 亿美元。</p>
<p>竞争格局也在变化。英伟达在其游戏芯片被转化为训练 AI 模型的工具后，成为全球最有价值的公司。</p>
<p>现在，关注点转向 AI 推理。英伟达也在为该市场构建系统，但几家欧洲初创企业表示，他们的技术可以更高效地完成这项工作。</p>
<p>与此同时，华盛顿仍在努力限制中国获取芯片设备。根据路透社获得的最新版本 MATCH 法案，虽然有所缩减，但仍保留了对 ASML 深紫外浸没式光刻机的新全国性限制。</p>
<p>该法案于 4 月 2 日在美国众议院提出，获得两党支持。其目的是填补对中国销售芯片设备的限制漏洞，并使美国与日本和荷兰保持一致。MATCH 代表多边技术控制硬件法案的协调。</p>
<p>不仅要阅读加密新闻，还要理解它。订阅我们的新闻通讯，免费。</p>

源杰科技

嘉实上证科创板芯片ETF

华夏上证科创板半导体材料设备主题ETF

<p>源杰科技的股价上涨了 9.6%，达到创纪录的¥1,439，成为中国大陆价格最高的股票，超过了贵州茅台。此次上涨突显了在强劲的人工智能需求下，芯片制造商的强劲表现，而茅台则因销售和利润下降面临一年以来的最大跌幅。其他光学股票也上涨，众基光电的业绩超出预期。尽管台积电和 ASML 的业绩强劲，但它们的股价下跌，反映出投资者对该行业的高期望。美国继续对向中国销售芯片设备实施限制</p>

<p><strong>Yuanjie took the top spot on China’s mainland stock market on Friday, pushing past Kweichow Moutai and putting chipmakers at the center of the session. Shares of the Chinese laser chip company rose as much as 9.6% to a record ¥1,439.</strong></p>
<div class="lb-trans"><p><strong>源杰在周五的中国大陆股市中夺得头把交椅，超越了贵州茅台，使得芯片制造商成为交易的中心。这家中国激光芯片公司的股价上涨了多达 9.6%，创下了¥1,439 的历史新高。</strong></p>
</div><p>At the same time, Moutai, China’s biggest distiller, logged its worst drop in a year after reporting its first annual decline in both sales and profit in 20 years.</p>
<div class="lb-trans"><p>与此同时，中国最大的酿酒商茅台在报告其 20 年来首次出现销售和利润双双下滑后，录得一年内最严重的跌幅。</p>
</div><p>The numbers this year also tell the story. Yuanjie’s stock has more than doubled in 2026. The STAR 50 Index is up 5.8%. A gauge of onshore consumer staples stocks has fallen more than 4% as weak domestic demand kept pressure on that group.</p>
<div class="lb-trans"><p>今年的数据也说明了问题。源杰的股票在 2026 年已经翻了一番。STAR 50 指数上涨了 5.8%。由于国内需求疲软，国内消费品股票的指数下跌超过 4%。</p>
</div><p>Other Chinese optical names rose on Friday after Zhongji Innolight posted first-quarter earnings above expectations. Goldman Sachs also turned more upbeat on the sector. Zhongji, a major Yuanjie customer, climbed as much as 5.8% to a record high.</p>
<div class="lb-trans"><p>在周五，其他中国光学公司股价上涨，此前中际光电发布的第一季度业绩超出预期。高盛对该行业的前景也变得更加乐观。中际作为源杰的主要客户，股价上涨了多达 5.8%，创下历史新高。</p>
</div><h3>Chinese traders lift chipmakers as AI demand keeps the tech trade alive</h3>
<div class="lb-trans"><h3>中国交易员推动芯片制造商，AI 需求让科技交易持续活跃</h3>
</div><p>The move in China came as Taiwan Semiconductor Manufacturing Co. and ASML posted solid results. Demand for AI chips remained high. TSMC said first-quarter profit jumped 58%, beat estimates, and hit another record. It was the company’s fourth straight quarter of record profit.</p>
<div class="lb-trans"><p>中国的这一走势发生在台积电和 ASML 发布了强劲的业绩之后。对 AI 芯片的需求依然强劲。台积电表示第一季度利润跃升 58%，超出预期，并创下新纪录。这是该公司连续第四个季度创下利润新高。</p>
</div><p>On the earnings call, Chief Executive C.C. Wei said, “AI-related demand continues to be extremely robust.” Even so, TSMC shares fell about 3% on Thursday.</p>
<div class="lb-trans"><p>在财报电话会议上，首席执行官魏哲家表示：“与 AI 相关的需求依然非常强劲。” 尽管如此，台积电的股价在周四下跌了约 3%。</p>
</div><p>The market reaction showed how hard it has become for big chipmakers to impress investors. Sixty-one percent of TSMC’s first-quarter revenue came from high-performance computing, the segment that includes AI chips made for its largest customer, Nvidia.</p>
<div class="lb-trans"><p>市场反应显示出大型芯片制造商让投资者印象深刻变得多么困难。台积电第一季度的收入中有 61% 来自高性能计算，这一细分市场包括为其最大客户英伟达制造的 AI 芯片。</p>
</div><p>That was up from 55% in the prior quarter. Even with that mix shift, the stock still moved lower.</p>
<div class="lb-trans"><p>这一比例较上个季度的 55% 有所上升。即便如此，股票仍然下跌。</p>
</div><p>ASML faced the same pressure. The Dutch chip equipment maker fell as much as 6.5% on Wednesday, then cut the loss and closed about 2.5% lower. Shares slipped another 3% on Thursday.</p>
<div class="lb-trans"><p>ASML 也面临同样的压力。这家荷兰芯片设备制造商在周三下跌了多达 6.5%，随后缩减了损失，最终收盘下跌约 2.5%。周四股价再次下滑 3%。</p>
</div><p>The company posted strong first-quarter results and raised guidance, but that only matched expectations. Concerns about lower sales to China also stayed in focus.</p>
<div class="lb-trans"><p>该公司发布了强劲的第一季度业绩并提高了指引，但这仅仅符合预期。对向中国销售减少的担忧依然受到关注。</p>
</div><h3>European startups chase funding while Washington tightens curbs on China</h3>
<div class="lb-trans"><h3>欧洲初创企业追逐融资，而华盛顿收紧对中国的限制</h3>
</div><p>The weak stock response in TSMC and ASML now hangs over the wider chipmakers group as earnings season rolls on. Last quarter, Nvidia reported blowout fourth-quarter results and still got hit with a 5% sell-off. High expectations have become a problem across the sector.</p>
<div class="lb-trans"><p>台积电和 ASML 的疲软股市反应现在笼罩在更广泛的芯片制造商群体之上，随着财报季的推进。上个季度，英伟达报告了强劲的第四季度业绩，但仍遭遇了 5% 的抛售。高期望已成为整个行业的问题。</p>
</div><p>Investors are backing European startups trying to build alternatives to Nvidia’s graphics processing units. Dutch startup Euclyd, backed by former ASML chief executive Peter Wennink, is discussing a fundraising round of at least 100 million euros, or about $118 million, founder Bernardo Kastrup reportedly told CNBC.</p>
<div class="lb-trans"><p>投资者正在支持欧洲初创企业，试图建立替代英伟达图形处理单元的产品。荷兰初创企业 Euclyd 在前 ASML 首席执行官 Peter Wennink 的支持下，正在讨论至少 1 亿欧元（约合 1.18 亿美元）的融资轮，创始人 Bernardo Kastrup 向 CNBC 透露。</p>
</div><p>In the U.K., Optalysys is planning a raise of more than $100 million later this year. British startup Fractile and France’s Arago are also reportedly seeking nine-figure rounds.</p>
<div class="lb-trans"><p>在英国，Optalysys 计划在今年晚些时候融资超过 1 亿美元。英国初创企业 Fractile 和法国的 Arago 也据报道在寻求九位数的融资。</p>
</div><p>In 2026 alone, investors have already put more than $200 million into the Netherlands’ Axelera and Britain’s Olix.</p>
<div class="lb-trans"><p>仅在 2026 年，投资者已经向荷兰的 Axelera 和英国的 Olix 投入了超过 2 亿美元。</p>
</div><p>The race is also changing. Nvidia became the world’s most valuable company after its gaming chips were turned into tools for training AI models.</p>
<div class="lb-trans"><p>竞争格局也在变化。英伟达在其游戏芯片被转化为训练 AI 模型的工具后，成为全球最有价值的公司。</p>
</div><p>Now attention is moving to AI inference. Nvidia is building systems for that market too, but several European startups say their technology can do the job more efficiently.</p>
<div class="lb-trans"><p>现在，关注点转向 AI 推理。英伟达也在为该市场构建系统，但几家欧洲初创企业表示，他们的技术可以更高效地完成这项工作。</p>
</div><p>Meanwhile, Washington is still trying to restrict China’s access to chip equipment. The latest version of the MATCH Act, allegedly seen by Reuters, was scaled back but still kept a new nationwide restriction on ASML’s deep ultraviolet immersion lithography machines.</p>
<div class="lb-trans"><p>与此同时，华盛顿仍在努力限制中国获取芯片设备。根据路透社获得的最新版本 MATCH 法案，虽然有所缩减，但仍保留了对 ASML 深紫外浸没式光刻机的新全国性限制。</p>
</div><p>The bill was introduced in the U.S. House of Representatives on April 2 with bipartisan support. It aims to close gaps in restrictions on chip equipment sold to China and align the United States with Japan and the Netherlands. MATCH stands for Multilateral Alignment of Technology Controls on Hardware Act.</p>
<div class="lb-trans"><p>该法案于 4 月 2 日在美国众议院提出，获得两党支持。其目的是填补对中国销售芯片设备的限制漏洞，并使美国与日本和荷兰保持一致。MATCH 代表多边技术控制硬件法案的协调。</p>
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<div class="lb-trans"><p>不仅要阅读加密新闻，还要理解它。订阅我们的新闻通讯，免费。</p>
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源杰科技股价上涨至 1439 元，成为中国大陆股价最高的股票