Chip stocks surged across the board. As of press time, HUA HONG SEMI (01347) rose 8.69% to HK$51.65; SHANGHAI FUDAN (01385) gained 7.37% to HK$32.06; SMIC (00981) climbed 6.77% to HK$55.2; and ZTE (00763) advanced 5.87% to HK$33.16.

On the news front, domestic computing power has recently welcomed multiple positive developments. On August 13, during Tencent's earnings conference, the company indicated it has multiple options for inference chip supply channels. On August 21, DeepSeek updated its model version to DeepSeek-V3.1, which is expected to support FP8 precision and domestic chips. Recently, server products based on Huawei's Ascend chips have successively secured major orders in government, financial, and telecommunications sectors.

Additionally, market sources indicate that ZTE's inference chips on HuaHong's 7nm process have successfully completed their first batch run-through, with the first batch of chips currently undergoing customer testing.

Huaxi Securities recently noted that the U.S. continues to tighten security reviews on high-computing power GPUs. NVIDIA's H20 chips were criticized by state media under CCTV as being "neither advanced, secure, nor environmentally friendly." Regulatory authorities have already issued cautious procurement reminders to key internet companies, and the Cyberspace Administration of China met with NVIDIA on July 31. On August 11, the U.S. announced the resumption of H20 exports to China, but added new conditions requiring companies to "surrender 15% of chip sales revenue in China in exchange for export licenses," raising enterprise costs and increasing supply uncertainty.

Against this backdrop, domestic market demand for autonomous and controllable computing power continues to rise, with policies and capital accelerating toward domestic AI chip and computing chain manufacturers.