Semiconductor Morning Brief | Cambricon Achieves First Full-Year Profitability, Top 10 Global Wafer Foundries Report 2.6% QoQ Output Growth in 2025Q4

SadMoneyMeow · 2026-03-16T08:05:06+00:00

As of March 12, 2026, the Shanghai and Shenzhen stock markets have declined sharply, while overseas markets have also performed poorly. Cambricon reported significant earnings growth, and Meta plans to launch new chips to support AI. The wafer foundry market has performed strongly driven by AI and other demand, with supply chain security and independent control remaining important trends. Related semiconductor ETFs have seen active trading.

SadMoneyMeow

2026-03-16 08:05:06

Abstract generation in progress

March 12, 2026, as of the close, the Shanghai Composite Index fell 0.10%, closing at 4,129.10 points; the Shenzhen Component Index dropped 0.63%, closing at 14,374.87 points; the ChiNext Index declined 0.96%, closing at 3,317.52 points. The Sci-Tech Innovation Semiconductor ETF (588170) decreased by 1.08%, and the Semiconductor Equipment ETF Huaxia (562590) fell by 1.69%.

Overnight overseas markets: as of the close, the Dow Jones Industrial Average dropped 1.56%; the Nasdaq Composite fell 1.68%; the S&P 500 declined 1.52%. The Philadelphia Semiconductor Index fell 3.43%, NXP Semiconductors dropped 4.33%, Micron Technology declined 3.19%, ARM fell 4.15%, Applied Materials decreased 3.93%, and Microchip Technology dropped 4.65%.

Industry News:

Cambrian (688256.SH) released its 2025 annual report, achieving operating revenue of 6.497 billion yuan, a year-on-year increase of 453.21%; net profit attributable to shareholders of the listed company was 2.059 billion yuan, turning from loss to profit year-on-year. The company plans to distribute a cash dividend of 15.00 yuan (tax included) per 10 shares to all shareholders, and to transfer 4.9 shares for every 10 shares from capital reserve.
According to TrendForce’s latest wafer foundry industry research, in Q4 2025, advanced process technology continued to benefit from the high demand for AI server GPUs and Google TPUs, along with new smartphone launches driving main chip production, resulting in strong shipment performance. In mature processes, server and Edge AI power management orders maintained high utilization of 8-inch fabs, with some even considering price increases. Meanwhile, 12-inch capacity utilization remained roughly flat, boosting the total quarterly output of the top ten global wafer foundries by 2.6% to approximately $46.3 billion.
According to META’s official blog, Meta will launch four generations of new MTIA chips over the next two years to support generative AI inference production.

Galaxy Securities believes that, in the context of the external environment, supply chain security and independence remain long-term trends. Equipment and materials are the most resilient under top-level domestic substitution strategies, with digital chips being the core carriers of computing power autonomy. Advanced packaging and testing benefit from technological upgrades.

Related ETFs: Sci-Tech Innovation Semiconductor ETF (588170) and its associated funds (Class A: 024417; Class C: 024418): tracking the only semiconductor equipment theme index on the STAR Market, with the highest proportion of advanced packaging (about 50%) in the market, focusing on cutting-edge equipment companies in technological innovation.

Semiconductor Equipment ETF Huaxia (562590) and its associated funds (Class A: 020356; Class C: 020357): tracking the CSI Semiconductor Materials and Equipment Theme Index, with the highest proportion of semiconductor equipment (about 63%) in the market index, directly benefiting from the global chip price surge and the definite demand from “equipment sellers” (device manufacturers).

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