Core Viewpoint - The article discusses the current state of the A-share market, highlighting the structural bull market and the recent strong export data, indicating potential investment opportunities despite individual losses in the market [1][2]. Group 1: Market Performance - The Shanghai Composite Index has not yet recovered from last year's peak of 3674 points, closing at 3639 points today, indicating a slow recovery in the market [1]. - The A-share market showed mixed performance today, with the Shanghai Composite Index up by 0.16%, while the Shenzhen Component Index and the ChiNext Index fell by 0.18% and 0.68%, respectively [11]. Group 2: Export and Import Data - July's export growth rate (in USD) was 7.2%, up 1.3 percentage points from the previous month, while imports grew by 4.1%, an increase of 3 percentage points from last month [1][2]. - The article notes a significant rebound in overall export growth despite a decline in exports to the US and ASEAN, suggesting that Chinese exporters are shifting focus to Europe and emerging markets [2]. Group 3: Sector Analysis - The semiconductor and rare earth sectors saw price increases, attributed to the logic of self-sufficiency and potential retaliatory measures against tariffs [1]. - The rare earth export volume in July increased by over 50% month-on-month, with June's exports reaching 7742 tons, reflecting strong demand [1][11]. Group 4: Tariff Implications - Recent announcements from the US regarding a potential 100% tariff on chips and semiconductors have raised concerns, but many foreign investors believe the impact will be limited due to exemptions for major companies like TSMC and Samsung [4][6]. - The implementation of Section 232 tariffs on semiconductors will be based on the "value added" principle, potentially allowing large companies that invest in the US to avoid these tariffs [7].

Core Viewpoint - TSMC's recent disclosure of a leak regarding its 2nm technology has shocked the global semiconductor industry, leading to legal actions against three engineers for allegedly leaking trade secrets [2][4]. Group 1: Incident Overview - TSMC has filed a lawsuit against three engineers, who are talented young professionals with master's degrees from top universities in Taiwan, for allegedly leaking commercial secrets that may violate national security laws [2][4]. - The investigation began in late June and initially targeted a few internal engineers, but it was later discovered that confidential data had been transmitted to a former employee of Tokyo Electron (TEL), a key supplier for TSMC [4][5]. Group 2: Engineer Background - The accused engineer, who worked at TSMC for nearly eight years, was involved in improving the yield of 5nm and 3nm processes before joining TEL in 2022 as a senior marketing specialist [4][5]. - This engineer's direct supervisor is also a former TSMC employee with a prestigious academic background, highlighting the interconnectedness of talent within the industry [4]. Group 3: Nature of the Leak - The accused engineer admitted to collecting confidential data to enhance equipment performance but claimed it was for internal use only, denying any further sharing of the data [4][5]. - TSMC's legal action is a response to the discovery that the engineer had taken nearly a thousand photos of the 2nm process, an unprecedented quantity, prompting the company to take strict disciplinary and legal measures [5]. Group 4: Industry Implications - The case underscores the immense pressure within the semiconductor industry, where engineers may resort to stealing sensitive data to demonstrate their value [5].

Alpha Binwani Capital创始人Ashwin Binwani表示："我们对软银的长期前景持谨慎乐观态度，大家普遍 认为其业务将继续扩张。我们已做好应对波动的准备，并将其视为'抄底'的机会。" 但随着利率逐渐上升，人们开始担忧软银能否应对大规模的资金需求。因此，其股票的价格相对于其资 产总净值仍存在较大折价。据媒体5月报道，由于市场波动、美国贸易政策的不确定性以及对人工智能 硬件财务估值的质疑，"星际之门"背后的一些交易进展有所放缓。 该公司表示，软银公司以 65 亿美元收购芯片设计公司 Ampere Computing Holdings的计划仍需获得美国 反垄断监管机构以及美国外国投资委员会的批准。据报道，该交易可能面临漫长的审查过程。 为了给AI投资准备充足的"弹药"，软银一直在剥离非核心资产。继出售其在阿里巴巴和德国电信的长期 持股后，今年 6 月，它通过出售 T-Mobile 美国(TMUS.US)公司的股票筹集了约 48 亿美元，并在8月再 次出售了价值30亿美元的T-Mobile股票。 三井住友日兴证券分析师Satoru Kikuchi在今年早些时候的一份报告中写道："评估软银时需要 ...

Group 1 - The U.S. has officially implemented a 20% "reciprocal tariff" on Taiwan, effective from noon on August 7, 2023, and President Trump announced plans to impose approximately 100% tariffs on chips and semiconductors, aiming to encourage companies to relocate manufacturing to the U.S. [1][10] - TSMC's investment in the U.S. has been confirmed at $200 billion, with the company previously announcing a total investment of $165 billion, which includes plans for six wafer fabs and two advanced packaging facilities [6][2]. - The Taiwanese government is under pressure to increase investments in the U.S. to match the scale of commitments made by other countries, with discussions suggesting potential figures of $300 billion to $400 billion [5][10]. Group 2 - The imposition of tariffs is expected to significantly impact Taiwan's semiconductor industry, particularly affecting core supply chains in wafer foundries and integrated circuit design [7]. - Concerns have been raised regarding the Taiwanese government's response to the evolving trade situation, with criticisms of a lack of strategic planning and delayed reactions to U.S. actions [7][9]. - Recent reports indicate that TSMC is facing additional challenges, including a scandal involving the leakage of 2nm technology secrets to a Japanese company, which could further destabilize Taiwan's semiconductor ecosystem [10].

Group 1 - SoftBank Group reported a net profit of 421.8 billion yen (approximately 2.9 billion USD) for the first fiscal quarter ending June 30, significantly exceeding analyst expectations of 127.6 billion yen, marking the second consecutive quarter of profitability and reversing losses from the previous year [1][6] - The Vision Fund was the primary driver of this performance, achieving a value increase of 4.8 billion USD and contributing 451.4 billion yen in profit to SoftBank [1][6] - The improvement in performance was largely attributed to a general recovery in technology stock valuations, particularly benefiting from SoftBank's stake in NVIDIA, which saw a 46% increase in stock price during the quarter [1][9] Group 2 - The Vision Fund's strong performance helped to eliminate losses from the previous year, with significant contributions from other investments such as Grab, Auto1 Group SE, and Symbotic [6][7] - Non-listed assets, including investments in Indian companies like Swiggy Ltd., also provided positive returns [8] - SoftBank's strategic investments in semiconductor stocks, particularly in NVIDIA and TSMC, yielded substantial returns, with SoftBank increasing its stake in NVIDIA to over 3 billion USD [9] Group 3 - In light of the improved profitability, SoftBank is advancing ambitious AI projects, including the "Stargate" initiative in collaboration with OpenAI and Oracle, which aims to invest up to 500 billion USD in building data centers and AI infrastructure in the U.S. [10] - SoftBank is also leading a 40 billion USD funding round for OpenAI and plans to invest an additional 30 billion USD [10] - To support its AI strategy, SoftBank has been divesting non-core assets, raising approximately 4.8 billion USD from the sale of T-Mobile US Inc. shares and an additional 3 billion USD in August [10]

台积电(TSM.US)盘前涨5.31%报243.65美元。台积电台股今日收涨4.89%报1180元新台币，创历史新 高，市值突破30万亿新台币大关。 | TSM 台积电 | | | | --- | --- | --- | | 231.370 ↓ -1.100 -0.47% | | 收盘价 08/06 15:59 美东 | | 243.650 ↑ 12.280 +5.31% | | 盘前价 08/07 04:27 美东 | | ー 72 24 じ Ｓ Ｓ 日 ♥ 自选 | | ● 快捷交易 | | 最高价 232.200 | 开盘价 231.030 | 成交量 945.72万 | | 最低价 228.820 | 昨收价 232.470 | 成交额 21.87亿 | | 平均价 231.256 | 市福率 TM 24.84 | 总市值 1.2万亿 (…) | | 振 幅 1.45% | 市盈率(静) 30.99 | 总股本 51.87亿 | | 换手率 0.20% | 市净率 7.835 | 流通值 1.08万亿 | | 52周最高 248.280 委 比 -98.29% - | | 流通股 46.72亿 | | ...

台积电表示在对涉案人员进行严厉惩戒处分的同时，启动了法律程序。关于详细情况，由于 正处于司法审查阶段，该公司并未提及。 负责台湾科学技术政策的国家科学及技术委员会介绍说，如果窃取了台湾的重要技术相关机 密，一般情况下最高可能被判处12年有期徒刑以及罚款1亿新台币。 台积电总部（台湾新竹） 台湾高等检察署知识产权检察分署5日发布消息称，已扣留台积电的3名前员工等人。据相关人士透露， 这些人涉嫌试图非法获取与2纳米电路线宽的尖端半导体开发及制造相关的机密信息…… 台湾检察部门在8月6日前以涉嫌非法获取台积电（TSMC）机密信息为由，扣留了该公司的 前员工等人。台湾近年来一直在强化以半导体等尖端技术为目标的经济间谍的打击措施。调 查进度备受关注。 台湾高等检察署知识产权检察分署5日发布消息称，已扣留台积电的3名前员工等人。据相关 人士透露，这些人涉嫌试图非法获取与2纳米（1纳米为十亿分之一米）电路线宽的尖端半导 体开发及制造相关的机密信息。 Tokyo Electron确认前员工涉嫌非法获取台积电机密 台湾在2022年修订的《国家安全法》中新增了"经济间谍罪"。以往仅在《营业秘密法》的范 围内进行处置，如今相关部门 ...

智通财经APP获悉，中国台湾省相关机构表示，其主要芯片制造商将无需缴纳美国对半导体进口征收的 100%关税。这一利好消息推动台积电(TSM.US)股价创下历史纪录。 中国台湾发展委员会主任刘镜清表示："台积电因其在美国建厂而获得芯片关税豁免。"至于其他可能受 影响的台湾企业，刘镜清称若竞争对手面临相同关税，"这些企业应继续保持领先优势"。 刘镜清补充称，美国政府已表示愿意继续与台湾就关税问题进行磋商。尽管面临新关税影响，台湾当局 仍维持2025年经济增长3.1%的预期。 作为人工智能(AI)领域高端芯片的主要供应商，台积电带动台湾科技出口在第二季度实现7.96%的惊人 增长，创四年新高。这家市值万亿美元的企业在台湾基准股指中的权重占比近40%，其股价周四大涨同 时带动大盘走强。 在台湾当局确认台积电获得关税豁免后，新台币兑美元汇率一度上涨0.6%至29.808，创一周新高。 目前，各国政府和企业仍在紧急评估特朗普系列关税政策的影响。三星电子(SSNLF.US)凭借在得州的 芯片工厂和参与"美国制造计划"的资质，有望规避关税风险。而重要半导体出口国马来西亚周四表示， 已就关税细则向美方寻求澄清。 澳新银行亚洲研 ...

Group 1 - TSMC's investment in the U.S. has reportedly increased to $300 billion, nearly doubling the previously announced $165 billion investment plan [1] - The company has made a strategic decision to exit the Chinese market and focus on U.S. investments amid the ongoing U.S.-China chip war [1][2] - TSMC's initial investment in Arizona was $12 billion, which has since escalated to a total of $165 billion, including plans for additional facilities [1] Group 2 - The U.S. has offered $52 billion in subsidies to attract TSMC and Samsung to build factories in America, with conditions that restrict investments in mainland China for the next decade [3] - Challenges in U.S. chip manufacturing include high costs, talent shortages, and cultural conflicts, with manufacturing costs in the U.S. being at least 50% higher than in Taiwan [5][7] - TSMC's investment progress in the U.S. has faced delays, raising concerns about the feasibility of the U.S. manufacturing revival plan [5][9] Group 3 - The relationship between TSMC and the U.S. is characterized by mutual testing of limits, with TSMC seeking market access and security while the U.S. aims for chip autonomy [11] - There are concerns that TSMC may be underestimating U.S. ambitions and overestimating its own capabilities, leading to potential long-term consequences for the company [11]

当地时间8月6日，美国总统特朗普宣布，计划对进口的半导体加征100%关税，但是对于已经在美国建厂、或已承诺在 美国设厂的企业，都可获得这部分关税的豁免。 预计上述将在美国扩大投资的苹果供应链厂商都有望获得特朗普政府的芯片关税的豁免。 此外，台积电预计也将获得特朗普芯片关税的豁免。今年年初，在此前已经公布对美国投资650亿美元建设三座先进制 程晶圆厂的基础上，追加1000亿美元投资，再建三座尖端制程晶圆厂、两座先进封装厂和一座研发中心。 在特朗普宣布对出口至美国的芯片加征100%的关税之后，韩国政府也宣布，三星与SK 海力士也将获的特朗普芯片关税 政策的豁免资格。其中，三星已承诺将在2030年前在美国投资450亿美元，建设两座尖端制程芯片制造厂、一座研发中 心与一座先进封装设施；SK 海力士则宣布将在美国印第安纳州西拉法叶市（West Lafayette）投资38.7亿美元，建设一 座AI 內存产品的先进封装与研发中心。 编辑：芯智讯-浪客剑 随后，特朗普总统正式确认，英伟达与苹果苹果将获得豁免资格，主因是这两家公司都已在美国进行大规模投资。苹果 也同时宣布，计划在未来4年内在美国投资6000亿美元，启动"美国 ...