官宣半年之后，芯片巨头合并超算巨头的计划终止。 12月9日晚间，中科曙光与海光信息同时发布公告，宣布终止重大资产重组，并且强调，本次终止不影 响双方后续的持续合作。 关于终止重大资产重组原因，双方公告表示，由于本次交易规模较大、涉及相关方较多，使得重大资产 重组方案论证历时较长，目前市场环境较本次交易筹划之初发生较大变化，本次实施重大资产重组的条 件尚不成熟，基于审慎性考虑，决定终止本次交易事项。 市场分析人士指出，本次重组终止并未打破双方的产业协同基础，长期来看不会影响核心经营逻辑。海 光信息与中科曙光明确表示将持续推进合作，联合产业链上下游推进海光生态下软硬件优化协同研发， 共同投入AI全栈产品及解决方案研发，继续发挥"芯片设计+硬件制造+软件服务"的互补优势。 值得关注的是，信创ETF基金（562030）标的指数中，中科曙光和海光信息是第一、第二大权重股，截 至11月底，合计权重占比达14.35%。 中信证券指出，科技博弈背景下，信创发展兼具迫切性与确定性，景气度有望持续回升。国泰君安证券 指出，国内大规模化债举措和积极财政政策落地，有望推动信创产业超预期发展。信创行业具备景气修 复、产品性能提升、国产 ...

海光信息、中科曙光的合并计划源开始于今年上半年。 2025年5月25日，海光信息和中科曙光双双发布公告称，二者正在筹划由海光信息通过向中科曙光全体 A股换股股东发行A股股票的方式换股吸收合并中科曙光，并发行A股股票募集配套资金，两家公司A股 股票将于5月26日起开始停牌，预计停牌时间不超过10个交易日。 6月9日，中科曙光公告称，公司与海光信息筹划由海光信息通过向中科曙光全体A股换股股东发行A股 股票的方式换股吸收合并中科曙光，并发行A股股票募集配套资金。参与本次换股的中科曙光股票为 14.63亿股，若不考虑合并双方后续可能的除权除息等影响，按照换股比例1:0.5525计算，海光信息为本 次换股吸收合并发行的股份数量合计为8.08亿股。吸收合并方换股价格为143.46元／股，被吸收合并方 换股价格为79.26元／股。本次换股吸收合并中，海光信息拟购买资产的交易金额为换股吸收合并中科 曙光的成交金额，为1159.67亿元。 新华财经北京12月10日电（王媛媛）12月9日晚间，海光信息、中科曙光相继发布公告宣布两家公司此 前的千亿元重大资产重组终止。 海光信息公告称，公司于2025年12月9日召开董事会，审议通过 ...

智通财经记者 | 宋佳楠 一场筹划半年多的千亿级整合最终落空。 成立于2014年的海光信息，由技术授权起步，2018年推出首款CPU，2022年登陆科创板，同步涉足CPU 和DCU两个领域。其处理器兼容x86指令集，DCU支持全精度AI计算，相关产品应用于金融、电信等多 个行业。 中科曙光成立于2006年，主营服务器、存储、安全、云计算等产品解决方案，2014年在上交所主板上 市。中科曙光的第一大股东是北京中科算源资产管理有限公司，持股比例为14.68%，实际控制人为中 国科学院计算技术研究所。 中科曙光方面也表达了类似的态度，称后续仍将围绕高端计算机核心业务，在超节点智算算力、科学大 模型开发平台、超集群系统等前沿技术方面，针对智能计算、算力调度、数据中心解决方案等领域布 局。 回溯半年前，这场重组曾引发行业震动。5月25日，两家公司宣布筹划由海光信息换股吸收合并中科曙 光，交易金额约1159.67亿元。该交易也成为5月16日证监会重组新规落地后的首单上市公司间吸收合并 案例。 12月9日晚间，海光信息（688041.SH）与中科曙光（603019.SH）同步发布公告，宣布终止此前筹划的 重大资产重组事项。 ...

Core Viewpoint - The major asset restructuring plan between Haiguang Information and Zhongke Shuguang has been officially terminated due to changes in market conditions and the complexity of the transaction, which was deemed not mature enough for implementation [5][6]. Group 1: Termination of Restructuring - Both companies announced the termination of the major asset restructuring plan on December 9, 2025, with Haiguang Information and Zhongke Shuguang holding board meetings to approve the decision [1][3]. - The termination was based on extensive discussions and research, with both companies emphasizing that the decision was made in the interest of maintaining long-term benefits for the companies and their investors [5][6]. Group 2: Background of the Restructuring - The restructuring plan began in May 2025, with Haiguang Information suspending trading on May 26 and resuming on June 10, during which time they disclosed progress updates [5]. - The original plan involved Haiguang Information issuing A-shares to all A-share shareholders of Zhongke Shuguang at a swap ratio of 0.5525:1, with the intention of absorbing Zhongke Shuguang and raising additional funds [6]. Group 3: Market Impact and Future Plans - Prior to the termination, Haiguang Information had a market capitalization of 315.8 billion yuan, while Zhongke Shuguang was valued at approximately 90.3 billion yuan, totaling over 400 billion yuan [6]. - Following the announcement of the merger, both companies experienced significant increases in market capitalization, with Haiguang Information reaching 509.7 billion yuan and Zhongke Shuguang 146.5 billion yuan, leading to a combined market value of 656.2 billion yuan [7]. - Both companies have committed to not planning any major asset restructuring for at least one month following the termination announcement and will hold an investor briefing on December 10, 2025, to address market concerns [5].

影响股市利好与利空消息 宏观新闻 1、中共中央政治局委员、国务院副总理何立峰12月9日下午在京会见美国科恩集团高级顾问艾伦。何立 峰表示，中美应不断拉长合作清单，为两国经贸关系打开新的合作空间。 2、日本媒体报道称，由于北京和东京之间的外交争端，中国向日本出口稀土出现延误。外交部发言人 郭嘉昆对此表示，中方主管部门已经多次介绍了稀土相关物项出口管制的工作情况，中方正在依法依规 处理有关问题。 3、美国总统特朗普称将批准向中国出售英伟达H200人工智能芯片，外交部发言人郭嘉昆在昨日主持的 例行记者会上表示，我们注意到有关报道，中方一贯主张中美通过合作实现互利共赢。 4、白宫国家经济委员会主任凯文·哈塞特表示，美联储有"大量降息空间"。当采访者问其这是否意味着 超过25个基点时，哈塞特回答说："没错"。 5、乌克兰总统泽连斯基当地时间12月9日称，已就举行选举做好准备，同时请求美国及欧洲伙伴协助保 障选举安全，乌克兰可在未来60至90天内完成选举相关筹备工作。 行业新闻 1、昨日有消息称"多晶硅平台公司注册"，公司名称为北京光和谦成科技有限责任公司，注册资本30 亿，成立日期为2025年12月9日，公司住所在北京 ...

Key Points - The article discusses various significant events and developments in the tech and automotive industries, including corporate restructuring, product launches, and regulatory actions. Group 1: Corporate Developments - Blue Zhanfei responded to allegations of staging his kidnapping in South Africa, detailing the traumatic experience he faced during the incident [4][5]. - The U.S. government approved the sale of NVIDIA's H200 AI chips to China, imposing a 25% fee on each chip sold, which is seen as a compromise to allow sales of less advanced technology [6][7]. - Alibaba established a new consumer-facing business unit, Qianwen, aiming to create a super app that integrates various services and AI capabilities [8]. - Xiaomi underwent significant personnel changes in its Chinese operations, with leadership adjustments aimed at improving performance amid declining sales in key product categories [9][10]. Group 2: Product Launches and Innovations - Xiaomi plans to launch three new vehicle models by 2026, targeting different consumer needs, including a large SUV and a luxury sedan [14][15]. - Tencent's OVBU unit has established a new technology department to enhance its video content production capabilities, focusing on AI integration [16]. - Galaxy General Robotics, a leading company in the embodiment intelligence sector, denied rumors of an upcoming IPO while announcing a valuation of 17 billion yuan [17]. - Cloud Deep Technology completed over 500 million yuan in Series C financing, with plans for an IPO on the horizon [18]. Group 3: Regulatory and Market Actions - The EU imposed a €120 million fine on X (formerly Twitter) for violating transparency obligations under the Digital Services Act [34][35]. - The EU has initiated an antitrust investigation into Google regarding its use of online content for AI training without proper authorization [42][43]. - SoftBank and NVIDIA are in talks for a significant investment in Skild AI, which could elevate its valuation to $14 billion [44][45].

Group 1 - The Chinese Ministry of Foreign Affairs noted the U.S. decision to allow NVIDIA to sell H200 AI chips to approved customers in China, emphasizing the importance of cooperation for mutual benefit between China and the U.S. [1] - The Chinese Ministry of Commerce highlighted the retail sector as a key focus for developing a complete domestic demand system and promoting high-quality development during the 14th Five-Year Plan period [1] - A new multi-crystalline silicon capacity integration acquisition platform named Beijing Guanghe Qiancheng Technology Co., Ltd. has been established with a registered capital of 3 billion, aimed at exploring strategic cooperation opportunities within the industry [1] Group 2 - The Ministry of Agriculture and Rural Affairs reported that pork supply in November was sufficient, with prices slightly decreasing. The number of breeding sows fell to 39.9 million, marking a 1.1% month-on-month decrease and a 2.1% year-on-year decrease [2] - The Quanzhou Municipal Committee proposed initiatives to enhance infrastructure connectivity with Taiwan, including improving transportation and utilities, and supporting Taiwanese residents in various aspects of life in Quanzhou [2] Group 3 - The draft measures to promote the sales of liquor in Guizhou include supporting collaboration between liquor companies and financial institutions, exploring new financial products, and ensuring product quality while combating market violations [3]

Core Viewpoint - The major asset restructuring between Haiguang Information and Zhongke Shuguang has been terminated due to the large scale of the transaction, involvement of multiple parties, and changes in market conditions, which rendered the restructuring conditions immature [1][3]. Group 1: Termination of Restructuring - Haiguang Information announced the termination of the restructuring plan to absorb Zhongke Shuguang through a share swap and fundraising, citing the complexity and market environment changes as primary reasons [1][3]. - Zhongke Shuguang also confirmed the termination of the restructuring, stating that the prolonged evaluation process and market changes contributed to the decision [3]. Group 2: Impact on Operations - Both companies stated that the termination of the restructuring will not have a significant adverse impact on their operational and financial conditions [1][3]. - Haiguang Information emphasized that its long-standing industrial collaboration with Zhongke Shuguang remains unaffected, and both companies will continue to cooperate closely in system-level product applications [3]. Group 3: Company Background and Financials - Haiguang Information is a well-known CPU manufacturer in China, also involved in GPGPU-based DCU products for AI applications, while Zhongke Shuguang focuses on high-performance computing, storage, and data center products [3]. - In Q3, Haiguang Information reported revenue of 4.026 billion yuan, a year-on-year increase of 69.60%, and a net profit of 760 million yuan, up 13.04% [4]. - Zhongke Shuguang's Q3 revenue was 2.970 billion yuan, reflecting a 27.51% year-on-year growth, with a net profit of 237 million yuan, increasing by 15.07% [4].

【深圳经济新闻联播】 广东"AIR"产业稳居全国龙头 【国内财经新闻】 我国成功发射通信技术试验卫星二十二号 据央视，北京时间2025年12月9日23时08分，我国在西昌卫星发射中心使用长征三号乙运载火箭，成功 将通信技术试验卫星二十二号发射升空，卫星顺利进入预定轨道，发射任务获得圆满成功。该卫星主要 用于卫星通信、广播电视、数据传输等业务，并开展相关技术试验验证。此次任务是长征系列运载火箭 的第615次飞行。 中钢协：铁矿石价格"虚火"再燃 行业各方需理性辨别 据中钢协微信公号，近期铁矿石价格与供需关系明显背离。在港口库存持续累积至1.59亿吨的情况下， 铁矿石普氏62%指数却自11月7日的102.05美元/吨一路上涨至12月2日的107.80美元/吨，涨幅5.63%。中 国矿产资源研究院认为，这一背离现象揭示了当前行情背后的推力，金融资本博弈及贸易环节炒作是推 动铁矿石价格上涨的非理性因素。当前铁矿石价格"虚火"再燃是资本博弈与贸易环节炒作的结果。港口 不断积累的库存与持续疲软的实际需求将对价格上行产生实质性压制，纯粹依靠阶段性炒作难以驱动价 格趋势上涨。行业各方需理性辨别，警惕价格脱离产业实际供需的风险 ...

Market Overview - US stock market showed mixed performance ahead of the Federal Reserve's decision, with the S&P 500 and Dow Jones experiencing two consecutive declines, while the Nasdaq saw a slight rebound, closing with a 0.13% increase [1] - Morgan Stanley led the decline in the Dow, dropping nearly 5%, while Nvidia fell 0.3% and Broadcom rose over 1%, reaching a historical high [1] - The Nasdaq Golden Dragon China Index fell by 1.37%, with Baidu down nearly 5% and Xpeng down over 3% [1] Economic Indicators - Unexpected improvement in US job vacancies led to a rise in the dollar index, reaching a one-week high, while US Treasury prices fell, causing a V-shaped recovery in yields, with the 10-year Treasury yield nearing a two-month high [2][3] - Bitcoin surged over 5%, surpassing $94,000, and Ethereum rose nearly 10% following the job vacancy report [3] Corporate Developments - Microsoft announced a total of $23 billion in new AI investments, including $17.5 billion in India, marking the largest investment in Asia [4] - SpaceX is reportedly seeking to go public in 2026, aiming to raise over $30 billion with a valuation of $1.5 trillion, marking a potential record IPO [3] Industry Insights - Huawei's automotive division announced a strategic partnership to enhance its electric vehicle offerings, with a significant increase in sales reported for November, achieving a record monthly delivery of 81,864 units, up 89.61% year-on-year [7] - The establishment of a multi-crystalline silicon capacity integration acquisition platform, Beijing Guanghe Qiancheng Technology Co., Ltd., with a registered capital of 3 billion yuan, aims to explore strategic cooperation opportunities within the industry [8] - The upcoming 2025 Computing Power Industry Ecosystem High-Quality Development Conference will focus on the future of the computing power industry, highlighting the growth of AI computing hardware [9] Retail Sector Trends - The retail industry in China is undergoing a transformation from scale expansion to quality enhancement, with expectations for the market size to exceed 50 trillion yuan by 2025, growing at a steady rate of 5-8% [11]