北京时间28日凌晨，美国半导体巨头英伟达将发布财报。"如果英伟达管理层提及与中国相关的不确定 性或表现出意外谨慎的态度，市场将会做出抛售的反应"，"市场预测营收增长率将放缓，可能对消极因 素反应更明显"…… 投资者正准备迎接美国东部时间8月27日下午（北京时间28日凌晨）美国半导体巨头英伟达的财报发 布。这不仅会影响美国股市，还会影响包括日本股市在内的世界人工智能（AI）行情。虽然预计会是 营收增长收5成的强劲财报，但正因为市场的期待值很高，未必会直接引发股价上涨反应。管理层有关 对华出口的发言也备受关注。 围绕高科技主导权的中美摩擦的影响也备受关注。英伟达4月表示面向中国的半导体"H20"被列入美国 政府的出口管制对象。 H20是应对美国管制而降低性能的面向中国的产品，到4月为止一直是销往中国的主力产品。美国政府8 月放宽了管制，但作为交换，表示将建立英伟达向美国政府上缴对华销售收入的15%的机制。另一方 面，也有消息称，中国当局正在采取封杀H20的行动，对今后的增长前景的影响令人担忧。 全世界的投资者都严阵以待也不是没有道理。这是因为存在以英伟达财报发表为契机、行情上下波动的 过去。日本是英伟达财报公布后 ...

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日经Gaming是2025年7月创刊的"以商业视点出发的游戏媒体"。日经BP利用在经营、技术、消费、营销 各领域培养的采访力、信息发布力，从商业角度出发，发布游戏及其周边产业的最新动向、商业模式。 以下文章来源于日经Gaming ，作者日经Gaming 编者荐语： 日经Gaming . 阅读更多内容请点击下方"阅读原文" （本文由日经Gaming提供) 日经 Gaming 是日经 BP 旗下专业游戏媒体。以商务视点出发，经营、消费、营销为切口，传递游戏及 关联领域的最新动向。 2025 年 7 月 22-24 日，日本顶级游戏开发者会议 "CEDEC2025" 召开。 7 月 24 日，万代南梦宫娱乐旗 下人气游戏《学园偶像大师》（ 2024 年 5 月开服）的开发团队 ——QualiArts 公司的编剧宇野雅视、 3D 导演杉村贵之、 Unity 工程师山城悠太郎，以「《学园偶像大师》会话场景制作～在制约中发光的 演出术和如何在制作系统下工夫～」为题登台，揭秘了游戏内 " 初星会话场景 " （偶像与玩家互动的场 景）的制作内幕，展现了团队如何在系统制约下精准呈现偶像个性。 CEDEC 2025 会议中， 以 ...

Core Viewpoint - China has significantly reduced its imports of major energy resources from the United States, indicating a long-term trend towards "de-Americanization" in energy procurement, which may impact international market dynamics and pricing [2][4][5]. Group 1: Energy Import Data - In July, China's imports of crude oil, liquefied natural gas (LNG), and coal from the U.S. totaled less than 1 ton, marking the lowest level since December 2019 [2][4]. - Since March, LNG imports from the U.S. have been zero, and crude oil imports have also ceased since June [4]. - Coal imports from the U.S. dropped from approximately 1.35 million tons per month to less than 1 ton after May [4]. Group 2: Reasons for "De-Americanization" - The current stalemate in U.S.-China trade negotiations is a primary reason for the ongoing reduction in energy imports from the U.S. [5]. - China's focus on energy security has intensified due to rising fuel prices following the Russia-Ukraine conflict, prompting a diversification of energy procurement sources [7]. Group 3: Impact on Energy Prices - China's shift away from U.S. energy resources has contributed to downward pressure on international LNG prices, which have decreased by about 20% from their June highs [8]. - However, there are concerns that long-term supply issues may arise due to delayed investment decisions in new U.S. LNG projects, potentially leading to upward price pressures in the future [8][9].

Core Viewpoint - Japanese news agencies Nikkei and Asahi have filed a lawsuit against the American startup Perplexity for allegedly infringing copyright by using AI to collect and utilize news articles without permission, seeking 2.2 billion yen in damages from each agency [2][5]. Group 1: Lawsuit Details - The lawsuit was filed on August 26, 2023, in the Tokyo District Court, marking a significant legal action against AI operators in Japan [2]. - Perplexity is accused of ignoring technical measures to prevent unauthorized access to Nikkei and Asahi's servers since at least June 2024, generating and providing summary articles that violate Japan's Copyright Law [4]. - The summaries provided by Perplexity contain errors and misrepresent the original articles, damaging the reputation of the news agencies and violating Japan's Unfair Competition Prevention Law [4]. Group 2: Claims and Demands - Nikkei and Asahi are demanding a court order to prohibit Perplexity from using related articles and to delete the summary content, in addition to claiming 2.2 billion yen for damages due to commercial harm [5]. - The unauthorized content includes articles from Nikkei's paid subscription service and articles provided to Yahoo News by Asahi [4]. Group 3: Industry Context - Perplexity, founded in 2022 by OpenAI engineers, has gained attention as a promising startup in the AI search field, backed by notable investors including Jeff Bezos and Nvidia [5]. - The company reportedly serves over 15 million users globally each month and collaborates with SoftBank to provide AI search services in Japan [5]. - Concerns regarding potential copyright infringement by Perplexity have been echoed by various media outlets, with ongoing litigation from Dow Jones, which owns The Wall Street Journal [5].

Core Viewpoint - The Japanese government is concerned about the negative impact on Japan-China relations due to the circulation of inappropriate videos on Chinese social media platforms, which are suspected to be AI-generated [2][4]. Group 1: Incident Overview - Videos deemed inappropriate have been uploaded to platforms like Douyin and Xiaohongshu, featuring content that portrays the Showa Emperor in a disrespectful manner [4]. - Japanese Chief Cabinet Secretary Hirokazu Matsuno stated on August 26 that the government has acknowledged the existence of these videos and considers them inappropriate [4]. - The Japanese embassy in Beijing has also lodged a diplomatic protest with the Chinese government, urging a proper response to the situation [4]. Group 2: Government Response - The Chinese Ministry of Foreign Affairs is currently investigating the situation, as stated by Deputy Director Guo Jiakun during a press conference [4]. - As of the evening of August 26, some of the videos have been removed from Chinese social media, but others remain accessible [4]. - There are opinions suggesting that the Chinese government has tolerated the release of these videos, given the level of control over social media in China [4]. Group 3: Upcoming Events - The Chinese leadership is placing significant importance on the upcoming 80th anniversary of the victory in the Anti-Japanese War, scheduled for September 3, which will include a ceremony at Tiananmen Square and a military parade showcasing new weaponry [5]. - Notable international figures, including Russian President Vladimir Putin, have been invited to attend the commemorative events [5].

Core Viewpoint - The South Korean government and businesses are significantly increasing their investments in the United States, with a total projected investment of $150 billion, including a historic $50 billion aircraft purchase from Boeing by Korean Air [2][4]. Group 1: Investment Details - Korean Air will purchase 103 aircraft from Boeing and 19 spare engines from GE Aerospace, totaling $50 billion, marking the largest single procurement in South Korea's history [2][4]. - The total investment of $150 billion is part of a broader commitment made by the South Korean government, which includes a separate promise of $350 billion in investments related to tariff agreements [4]. Group 2: Collaborative Agreements - South Korean and American companies have signed 11 cooperation agreements in sectors such as shipbuilding, nuclear energy, and energy [4]. - The Korea Development Bank will establish a special fund for the U.S. shipbuilding industry, and Samsung Heavy Industries will participate in U.S. naval vessel maintenance projects [4]. - The Korea Gas Corporation plans to purchase 3.3 million tons of liquefied natural gas (LNG) from the U.S. over the next decade starting in 2028 [4]. Group 3: Key Participants - The meeting included prominent figures such as Lee Jae-Yong, Chairman of Samsung Electronics, and executives from 16 major South Korean conglomerates, alongside NVIDIA CEO Jensen Huang and executives from 21 American companies [4].

Core Viewpoint - The Chinese stock market is witnessing strong performance in technology stocks, with increasing confidence that Chinese artificial intelligence (AI) can develop independently of American companies like Nvidia. The recent release of DeepSeek's new large language model (LLM) has catalyzed this sentiment [2][4]. Group 1: DeepSeek's Developments - DeepSeek released its new LLM "V3.1" on August 21, which is seen as a transitional model before the anticipated "R2" due to delays in development related to Huawei's semiconductor capabilities [4]. - The market is paying attention to DeepSeek's announcement that V3.1 utilizes UE8M0 FP8 Scale parameters, designed for upcoming domestic chips, indicating a shift towards integrating software and hardware in Chinese AI [4][6]. Group 2: Market Reactions - The Shanghai Stock Exchange's "STAR 50 Index," composed of 50 stocks from the high-tech sector, rose by 8.6% on August 22, reaching its highest level since February 2022, reflecting growing optimism in the AI sector [4]. - The stock price of Cambricon Technology, referred to as the "Chinese Nvidia," has doubled compared to the end of July, indicating strong market interest and potential in domestic AI chip development [5][6]. Group 3: Implications for AI Development - The instability of H20 supply is believed to have contributed to the delays in the development of DeepSeek's R2 model, which has relied on both Huawei and Nvidia chips for training and inference [7]. - DeepSeek's clear shift towards integrating with domestic semiconductors could significantly alter the landscape of AI development in China, potentially reducing reliance on foreign technology [7].

Core Viewpoint - Nissan's global new car sales have dropped significantly, leading to its first exit from the top ten rankings in 16 years, with a 6% year-on-year decrease to 1.61 million units [1][3][8]. Group 1: Sales Performance - Nissan's sales in the first half of 2025 reached 1.61 million units, marking a 6% decline compared to the previous year, the lowest level since 2009 [3][8]. - The company has been surpassed in sales by Chinese automakers BYD and Suzuki, with BYD's sales increasing by 33% to 2.14 million units [8][9]. - In the Chinese market, Nissan's sales fell by 18% to 270,000 units, a 60% decrease compared to its peak in 2018 [3][8]. Group 2: Financial Performance - Nissan reported a consolidated loss of 115.7 billion yen for the April to June 2025 period, a stark contrast to a profit of 28.5 billion yen in the same period of 2024, marking four consecutive quarters of losses [3][8]. - The decline in sales has put pressure on fixed costs, further exacerbating the company's financial difficulties [3]. Group 3: Market Challenges - In the U.S. market, Nissan's hybrid vehicle lineup is insufficient, and the company missed out on demand due to new tariffs on automobiles [6][9]. - The competitive landscape in China is intensifying, with price wars expected to escalate, impacting sales growth for companies like BYD [9]. - Nissan plans to launch a new version of its electric vehicle LEAF in Japan by the end of 2025, but many key models will not be available until 2026, indicating ongoing challenges in product offerings [9].

2024年1月，香港高等法院下达清盘命令，恒大的股票交易被停止。7月28日停止期限达到18个月，交易 所决定摘牌。在摘牌后，破产重组手续仍将继续，但事态复杂看不到尽头。 据担任清盘人的美国咨询公司Alvarez & Marsal介绍，恒大在280多个城市拥有超过1300个开发项目，债 权人的诉讼达数百起。与房地产管理公司恒大实业等目前仍在香港上市的两家子公司的重组也以失败告 终。清理资产并分配给债权人是一项"极其艰难且耗时的工作"。 | | 中国房地产企业持续处于困境 | | --- | --- | | 公司名 | 状况 | | 碧桂园 | 前行业最大企业。处于紧要关头, 不知能否避免破产重组? | | 万科企业 | 2024财年出现约500亿元的最终亏损。 作为母公司的地方政府旗下企业寻求 | | | 进行救助 | | 融创中国 | 从2020年业界第三名跌落。关于是否 启动破产重组,仍在审理中文网 | | 时代中国 | 由于资金周转困难,2022年停止偿还 | | | 外债。仍在进行债务重组 | | 华南城 | 香港高等法院8月裁决启动破产重组 | | | 程序 | | 天誉置业 | 结算公布延迟导致股票 ...