声明提到，美国国际贸易委员会（ITC）正在进行"损害认定"，预计将于3月就此议题投票。一旦最终确 定，这些关税将影响价值达3.47亿美元（2023年数据）的进口货物。 声明还称，此次双反关税的申诉方是由美国多家活性阳极材料生产商组成的临时请愿联盟。 据《日经亚洲》和加新社消息，联盟成员、美国生产商Novonix首席执行官迈克·奥克朗利对最终决定表 示欢迎。他声称，这代表着"恢复美国市场公平竞争"的关键一步，可以加速美国制造业投资以及增加高 质量就业岗位。他还抹黑中企进行"贸易扭曲"。 【文/观察者网 齐倩】 当地时间2月11日，美国商务部最终确认，对从中国进口的石墨加征超160%的双反关税，理由是这些关 键电池材料受到所谓"不公平补贴"，以及以"低于公平市场价格"在美销售。 据美国商务部下属机构国际贸易管理局（ITA）网站消息，该机构在一份声明中宣布，将对来自中国特 定企业的进口石墨征收93.5%的反倾销税，对其他所有中国出口商征收102.72%的反倾销税。 同时，美国还将对所有从中国进口的石墨征收66.82%至66.86%的反补贴税。 日媒《日经亚洲》提到，最终关税从最开始的3%大幅跃升至160%以上，但相 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 微信公众号"证监会发布"2月13日消息，近日，证监会对天风证券（维权）股份有限公司（以下简称天 风证券）为武汉当代科技产业集团股份有限公司（以下简称当代集团）涉嫌违法提供融资及信息披露违 法违规行为作出行政处罚及市场禁入事先告知。 经查，2020年至2022年期间，天风证券违法为原第一大股东当代集团提供融资、未按规定披露与当代集 团关联交易，当代集团与天风证券共同实施相关违法行为，严重违反证券法律法规。湖北证监局拟依法 对天风证券和当代集团合计处以2500万元的顶格罚款，对9名责任人员合计罚款3480万元，对当代集团 实际控制人艾路明、天风证券时任董事长余磊、时任副总裁兼财务总监许欣采取终身证券市场禁入措 施。对天风证券及有关人员在业务开展、内控合规等方面存在的违法违规行为，湖北证监局拟依法采取 暂停相关业务、责令处分有关责任人员、监管谈话等行政监管措施。上海证券交易所拟对天风证券、当 代集团及有关责任人员依规顶格作出纪律处分。 前期，为切实维护投资者合法权益，证券监管部门持续提升监管执法效能，湖北省积极行动，当代集团 所持天风证券股权已转让给湖北省有关企业， ...

Core Viewpoint - The article discusses the United States' attempt to counter China's dominance in critical minerals through international cooperation and trade measures, highlighting skepticism about the effectiveness of this strategy [1][3]. Group 1: U.S. Strategy and International Cooperation - The U.S. has recognized its inability to independently challenge China's position in the critical minerals sector and is now seeking to form alliances with other countries to establish pricing power [1][3]. - A recent meeting led by U.S. Vice President Vance included representatives from 54 countries and the EU, aiming to set price floors and impose "adjustment tariffs" to maintain Western control over critical mineral pricing [1][3]. Group 2: Criticism of U.S. Approach - Critics argue that the U.S.-led alliance lacks credibility and is primarily designed to benefit American companies, with many non-critical minerals included in the funding list [3][4]. - The article points out that the U.S. lacks significant rare earth deposits, which undermines its ability to lead a successful international coalition against China [3][4]. Group 3: Long-term Challenges - Competing with China in the critical minerals market requires building extraction and refining capabilities, as well as providing long-term price guarantees to non-Chinese producers, which are long-term projects that could take at least a decade [3][4]. - The article emphasizes that trust in the U.S. government and its political system is essential for other countries to commit to this alliance, which is currently in doubt [3][4].

Group 1 - The core issue is that the automotive industry in Mexico is severely impacted by the tariff policies of the Trump administration, leading to factory closures and increased layoffs [2][3] - Chinese automakers, including BYD and Geely, are interested in acquiring a Nissan-Benz joint venture factory in Mexico, with a total of nine companies expressing interest, including Chery and Great Wall Motors [2] - The Mexican automotive industry is highly dependent on the U.S. market, with 280 out of 400 million vehicles produced in Mexico in 2024 expected to be purchased by U.S. consumers [3] Group 2 - The Mexican government is privately urging local authorities to delay Chinese investments until trade negotiations with the U.S. are completed, despite being unable to prevent the sale of the factory [3] - The automotive industry in Mexico has lost approximately 60,000 jobs due to the pressures from tariffs, with a projected decline in exports to the U.S. by nearly 3% by 2025 [3][4] - Chinese investments are viewed as crucial for revitalizing the Mexican automotive industry, as they could provide much-needed jobs and stimulate local production [4]

Group 1 - The core viewpoint of the news is the introduction of the "Antitrust Guidelines for Public Utilities" by the State Administration for Market Regulation to strengthen antitrust measures in the public utility sector and ensure fair competition [1][2] - The guidelines focus on four types of antitrust risks: monopoly agreements, abuse of market dominance, operator concentration, and abuse of administrative power to exclude or restrict competition [1][2] - The guidelines provide specific behavioral boundaries based on the core provisions of the Anti-Monopoly Law of the People's Republic of China, identifying new types of monopoly risks in eight scenarios relevant to platform operators [1][3] Group 2 - The significance of the guidelines lies in addressing the frequent occurrence of monopolistic behaviors in the public utility sector, which includes essential services like water, electricity, gas, and public transportation [2] - The guidelines aim to enhance the scientific, targeted, and effective nature of antitrust enforcement, while also establishing a long-term regulatory mechanism for the public utility sector [2][3] - The guidelines consist of seven chapters and 50 articles, covering general principles, monopoly agreements, abuse of market dominance, operator concentration, fair competition review, legal responsibilities, and supplementary provisions [3] Group 3 - The guidelines emphasize a problem-oriented approach, focusing on monopolistic issues in the public utility sector and providing clear definitions and considerations for various monopolistic behaviors [3] - They take into account the specific operational models and competitive characteristics of the public utility sector, making targeted provisions for market definition, dominance recognition, and behavior assessment [3][4] - The guidelines encourage compliance construction among public utility operators, promoting the establishment of antitrust compliance management systems to identify and mitigate potential legal risks [8] Group 4 - The guidelines specify the criteria for defining relevant markets in the public utility sector, considering the public, regional, and policy characteristics of these services [4] - They outline the recognition of market dominance, focusing on the operators' control over physical networks or key infrastructure as a critical factor [4][5] - The guidelines detail the recognition of monopoly agreements and abuse of market dominance, particularly in industries like bottled liquefied gas and essential utilities [5][6] Group 5 - The guidelines address the defenses that operators may use, particularly in relation to public safety and supply guarantees, and specify conditions under which monopolistic agreements may be exempted [6][7] - They highlight the scrutiny of operator concentration, especially concerning the acquisition of control over physical networks or key infrastructure, to prevent the extension of monopolistic advantages [6][7] - The guidelines also detail the recognition of behaviors that abuse administrative power to exclude or restrict competition, providing clear standards for identification [7][10] Group 6 - The guidelines support the establishment of compliance management systems among public utility operators and encourage industry associations to promote self-regulation and compliance [8][9] - They emphasize the importance of social supervision, allowing any individual or organization to report suspected monopolistic behaviors, which will be investigated by antitrust enforcement agencies [9] - The guidelines outline measures for enhancing collaborative regulation, including pre-communication with industry authorities and post-incident credit penalties for violations [10][11]

Core Viewpoint - The A-share market has shown a slow bull pattern in the Year of the Snake (2025), with significant gains across major indices, driven by policy support, economic recovery, and external environment fluctuations [2][4]. Market Performance - As of the last trading day of the Year of the Snake, the Shanghai Composite Index closed at 4082.07, the Shenzhen Component Index at 14100.19, the ChiNext Index at 3380.83, and the North Star 50 at 1529.77 [2]. - The Shanghai Composite Index increased by 24.83% for the year, while the Shenzhen Component Index rose by 37.73%. The ChiNext Index led with a 62.31% increase, followed by the North Star 50 and the Sci-Tech 50, which rose by 42.59% and 48.65%, respectively [2]. Sector Performance - In 2025, the non-ferrous metals sector topped the performance chart with a 109.89% increase, followed by the communication, electronics, and power equipment sectors, which rose by 90.78%, 58.08%, and 57.80%, respectively. Other sectors like computers, automobiles, and pharmaceuticals saw increases between 15% and 30% [3]. - Concept sectors also performed well, with the optical module (CPO) index leading at 119.25%, followed by the storage chip index at 98.63%, the lithography machine index at 74.61%, the semiconductor index at 70.07%, and the robotics index at 55.11% [3]. Individual Stock Performance - Nearly 4700 stocks saw price increases, with 779 stocks doubling in price and over 100 stocks increasing by more than 200%. The top three performers, excluding newly listed stocks, were Upway New Materials, Tianpu Co., and Jiamei Packaging, with increases exceeding 1800%, 900%, and 800%, respectively. Only 23 stocks fell by more than 40%, with 8 stocks declining over 50% [3]. Trading Activity - The A-share market experienced high trading activity, with daily trading exceeding 1 trillion yuan becoming the norm. The average daily trading volume rose to 1.89 trillion yuan, a nearly 70% increase compared to the previous year, with days exceeding 2 trillion yuan accounting for 35% of trading days [3]. Future Outlook - The investment environment for the A-share market in the Year of the Horse (2026) is expected to continue improving, with a slow bull market likely to persist. Key drivers include policy benefits, economic recovery, and technological leadership. Sectors such as semiconductors and artificial intelligence are anticipated to maintain strong performance, while caution is advised for cyclical sectors like non-ferrous metals and new energy [4].

智通财经消息，据华为内部反腐快报2026（001）文件显示，原终端BG多媒体技术部部长邓某因涉嫌非 国家工作人员受贿罪被龙岗区人民检察院依法批准逮捕。 犯罪嫌疑人邓某，于2007年7月入职华为，2007年7月至2020年12月先后任职终端总体技术硬件平台部工 程师、终端器件与归一化部高级工程师、终端多媒体技术部高级工程师、架构师、Camera部经理、多 媒体技术部部长等职务。 经司法查明，邓某在职期间，涉嫌利用职务便利为供应商谋取不当利益，收取供应商好处费，数额巨 大。2025年12月9日，邓某因涉嫌非国家工作人员受贻罪被刑事拘留；2026年1月15日，邓某被龙岗区人 民检察院依法批准逮捕。 智通财经就此消息向华为求证，截至发稿华为方面暂无回应。 公开资料显示，邓某自2023年5月起担任上海荣耀智慧科技开发有限公司法定代表人及董事长，该公司 由荣耀终端有限公司全资持股。同时他在荣耀终端有限公司担任研发管理部总裁，全面负责产品研发工 作。 2024年5月16日，荣耀终端有限公司发布内部通报，宣布因邓某违反公司《商业行为准则》（BCG）解 除其研发管理部总裁职务。通报未披露具体违规细节，但明确其被除名处理。 知情 ...

Core Viewpoint - Lenovo Group reported strong financial results for Q3, with revenue reaching 157.5 billion RMB, a year-on-year increase of over 18%, and adjusted net profit of 4.07 billion RMB, up 36%, indicating a profit growth rate twice that of revenue growth [1] Group Performance - All major business segments of Lenovo achieved double-digit growth: IDG (Intelligent Devices Group) grew by 14%, ISG (Infrastructure Solutions Group) by 31%, and SSG (Solutions and Services Group) by 18% [2] - The AI-related revenue, including AI PCs, AI smartphones, AI servers, and AI solutions and services, grew by over 70% year-on-year, now accounting for one-third of the group's total revenue [2] AI as a Growth Driver - The AI server revenue increased by 59% year-on-year, with significant orders for new GPU-based servers [3] - Lenovo's AI server business achieved high double-digit revenue growth, driven by project order reserves and deployment of solutions based on NVIDIA's GB300NVL72 design [5] Supply Chain and Competitive Advantage - Lenovo's supply chain resilience and agility, along with its ability to manage diverse computing power, are key factors in outperforming the market [6] - The company has a significant order reserve of 15.5 billion USD for AI services, indicating strong future demand [5] Market Position and Valuation - Lenovo's transition from a PC-only valuation to a multi-product and multi-business valuation suggests that its current stock price is undervalued, with a potential increase of 60% to 70% based on a reasonable P/E ratio of 16 to 17 times [7]

全球科技产业的钟摆正在剧烈摇晃。 一端，是人工智能（AI）的史诗级爆发，大模型参数向万亿级迈进，算力需求呈指数级跃升；另一 端，"脱钩断链""小院高墙"的地缘政治叙事，持续笼罩着全球科技合作的空间。然而，就在舆论为中国 AI产业的前景担忧时，现实给出了让人意想不到的答案——一场令人振奋的深层变革，正在悄然发 生、加速演进。 放在以前，解决方案简单粗暴，加大算力建设，购买更多最先进的GPU即可，但在地缘政治危机加剧的 背景下，这已经被证明是一件死路。 2018年以来，欧美不断加大芯片管制力度，并将数百家中国科技公司列入实体清单，导致大疆、海康威 视等企业一片难求。 去年底，某些国家的政策因利益的因素有所放松，英伟达可以继续向中国出售GPU，但只能是缩水版， 如基于Hopper的H20和基于Blackwell的B30在算力、互联、带宽上均大幅降低配置。 这只是暂时止渴，长期隐患仍存。 如果我国AI企业满足于"特供"芯片，虽然可以在一定程度上缓解燃眉之急，但从长远看，使用注水燃 油，终究难以驶入技术创新的快车道，永远作为openAI、谷歌陪跑者而存在。 面对困境，中国产业界逐渐形成共识，仰仗国外算力体系绝非长久之计 ...

【文/观察者网 柳白】 一个"不可能存在"的行星系统，最近被天文学家们发现了。 据美国有线电视新闻网（CNN）2月12日报道，由英国华威大学牵头的全球天文学家团队，通过美国国 家航空航天局（NASA）和欧洲空间局（ESA）的望远镜发现，一个距离地球约116光年以红矮星为中 心的行星系统，可能彻底改写人类对行星形成的现有认知。具体来说，该行星系统的行星排布违背了现 有行星形成理论，与太阳系"内岩外气"的行星排列规律完全相反。不过相关结论仍存在争议，有待更多 观测验证。 "它本不该存在" 据悉，围绕红矮星LHS 1903运行的四行星系排列方式十分奇特：最内侧的行星是岩质行星，接下来的 两颗是气态行星，而出人意料的是，最外侧的行星也是岩质行星。 这种排列方式与银河系中以及我们太阳系里常见的模式相矛盾。在太阳系，岩石行星（水星、金星、地 球、火星）靠近太阳，气态行星（木星、土星、天王星、海王星）则位于外侧。 气态巨行星木星，是太阳系从内向外的第五颗行星。 IC Photo 传统理论认为，这种常见格局的成因是：行星在年轻恒星周围的气体尘埃盘中形成，靠近恒星的区域温 度极高。在内层，水、二氧化碳等易挥发物质会被汽化，只有 ...