在全面推进中国式现代化的新征程上，共同富裕被明确为国家发展的重要目标。如何让政策更透明？如 何让百姓真正参与并共享国家发展红利？如何让社会各界理解供应链安全、数字经济和产业升级对国家 长远未来的重要意义？ 为回应这些关切，在有关部门指导下，国际智链大讲堂正式开播，面向全国公众提供权威、系统、通俗 的政策解读与知识普及服务。 推动共同富裕，让红利走向百姓 共同富裕不是一句口号，而是实实在在的国家战略。它既需要顶层设计，也离不开全民参与。国际智链 大讲堂的开播，就是为了让更多普通群众看懂国家政策、理解时代方向、掌握发展机遇。 作为扎根供应链数字化领域的综合平台，国际智链长期参与产业链补链强链、数字人民币跨境流通、农 产品出海扶持、小微企业贸易赋能等项目，在推动"产业增效""企业增收""百姓增益"方面积累了大量的 实践经验。 大讲堂将以公开、普惠、低门槛的形式向社会开放，帮助老百姓理解： 国家为什么大力推进共同富裕？ 普通群众能从产业升级中获得什么？ 国家在供应链、数字经济、消费促进等领域推出了哪些新政策？ 这一系列面向民生的核心议题，将在大讲堂中逐步展开。 国际智链大讲堂将严格遵守国家法律法规，坚持正确舆论导向， ...

宏观点评 2025 年 11 月 24 日 招银国际环球市场 | 市场策略 | 招财日报 每日投资策略 | | 收市价 | | 升/跌（%） | | --- | --- | --- | --- | | | | 单日 | 年内 | | 恒生金融 | 46,658 | -2.12 | 32.79 | | 恒生工商业 | 13,846 | -2.59 | 23.07 | | 恒生地产 | 18,268 | -2.45 | 22.50 | | 恒生公用事业 | 37,405 | -0.91 | 4.88 | | 资料来源：彭博 | | | | 敬请参阅尾页之免责声明 请到彭博 (搜索代码: RESP CMBR )或 http://www.cmbi.com.hk 下载更多研究报告 1 中国股市大跌，港股医疗保健、原材料与可选消费领跌，电讯、综合与公用 事业跑赢，南向资金净买入 1.05 亿港元，腾讯、小米与阿里巴巴净买入居前， 华虹半导体、赣锋锂业与中芯国际净卖出最多。A 股工贸综合、有色金属与 化工跌幅居前，媒体娱乐、家电与食品饮料跌幅最小。国债收益率走平，人 民币兑美元小幅上涨。 日本批准 21.3 万亿日元经济刺 ...

（原标题：闻泰科技敦促安世荷兰切实解决控制权问题） 鉴于此，我们要求安世荷兰能在切实尊重事实和法律的基础上，就如何恢复闻泰科技的合法控制权与完 整股东权利，提出具有建设性且真正富有诚意的解决方案。 闻泰科技消息，近日，我方注意到安世荷兰及其相关方的一系列单方面行为，已对全球半导体产业链的 稳定构成潜在威胁。为避免局势进一步升级，维护各方合法权益，公司特此发表声明如下： 全球半导体产业的稳定关乎行业发展大局。我们再次呼吁各方以理性、负责任的态度行事，共同维护安 世半导体的稳定与繁荣，保障全球客户的供应链安全。 自荷兰经济部不当干预以来，本着负责任的态度和维护全球客户利益的原则，在中国相关政府部门的大 力帮助与推动下，我方已主动释放善意，明确表达了愿意与安世荷兰方面就如何恢复闻泰科技的合法控 制权、妥善解决当前争端进行建设性沟通。我们始终相信，通过坦诚对话解决分歧，是保障公司正常运 营和全球芯片供应稳定的切实正确途径。 来源：闻泰科技微信公众号 然而，令人深感遗憾与不解的是，尽管我方展现出最大诚意，安世荷兰方面迄今未对我方的沟通提议作 出任何实质性回应。 ...

证券日报网讯金溢科技11月21日发布公告，在公司回答调研者提问时表示，公司选择具有持续稳定批量 供应能力的供应商合作伙伴，以确保供应链安全。 （文章来源：证券日报） ...

36氪获悉，国产汽车半导体企业芯钛科技，近期完成了C+轮融资，国有资本昆山国创与江苏超力电器 控股股东鸣泉科技共同参与了本轮融资。 据悉，此次融资主要用于车规芯片产品量产及全国产化供应链建设。 芯钛科技成立于2017年，主要从事汽车级半导体芯片产品的设计研发，提供安全类MCU、主控MCU等 芯片产品，可为智能网联汽车构建完成的软硬件生态。 36氪了解到，今年11月1日芯钛科技自主研发的ASIL-D级高功能安全主控MCU芯片TTA8，被搭载在广 汽昊铂GT-攀登版上，该车型为国内首台实现芯片设计100%国产化的智能新能源汽车；11月11日，芯钛 科技又与上海汇众、上汽金控、上汽研发总院、华域汽车、联创汽车电子等达成合作，共同赋能上汽集 团的"大底盘战略"。 据了解，芯钛科技从2019年起便已开始布局高功能安全MCU产品，并于2023年前后获得ASIL-D功能安 全产品认证以及博世华域转向总成量产验证。 芯钛科技这样阐述自己的战略思考：" 在当前复杂的国际形势下，汽车芯片自主可控和供应链安全已上 升至国家战略高度，因此芯钛科技做的事情难而正确，未来公司将不断丰富汽车芯片产品品类，全面覆 盖底盘及上车身核心应用场景 ...

Core Insights - Chinese automotive companies are exploring new strategies for international expansion, particularly focusing on Indonesia for mining opportunities rather than just vehicle sales [1][38]. - The approach emphasizes long-term investment and establishing a solid foundation for future growth rather than immediate profits [2]. Group 1: Market Conditions in Indonesia - Indonesia is characterized by poor transportation infrastructure and low national income, with Java Island, which occupies only 6.6% of the country's area, housing 150 million people [5][11]. - Jakarta, the capital, has been identified as the most congested city globally, with drivers averaging 32,800 brake applications per year, significantly higher than the global average of 18,000 [6][8]. - The majority of the population relies on motorcycles for transportation due to inadequate public transport options, leading to a high prevalence of motorcycle ownership [6][10]. Group 2: Economic Landscape - A significant portion of the Indonesian population lives in poverty, with 8.47% classified as poor, spending less than 609,160 Indonesian Rupiah (approximately 200-300 RMB) per month [11][13]. - The economic structure is fragile, with 24.42% of the population unable to cover basic expenses and 49.29% classified as near-middle class, spending between 2.6 million to 6 million Indonesian Rupiah (approximately 1,200-2,800 RMB) [13]. - The wealth distribution is heavily skewed, with less than 1% of the population classified as wealthy, indicating a challenging market for high-end automotive products [13]. Group 3: Regulatory Environment - Chinese companies must establish local entities and meet specific capital requirements, including a minimum registration capital of 100 billion Indonesian Rupiah (approximately 4.5 million RMB) [16]. - The "localization rate" requirement mandates that foreign companies produce or source a significant portion of their components locally to benefit from policy incentives [16]. Group 4: Competitive Landscape - Japanese automotive brands dominate the Indonesian market, with Toyota leading sales figures, while Chinese brands like BYD and Wuling rank lower in market share [17][20]. - The long-standing presence of Japanese companies provides a reference point for Chinese firms entering the market [20]. Group 5: Strategic Collaborations - Chinese automotive companies are forming partnerships with local firms to enhance market entry, such as the CKD (Completely Knocked Down) assembly model adopted by several brands [32]. - Collaborations extend to local component sourcing and employment generation, which helps in meeting localization requirements and reducing operational costs [33][37]. Group 6: Resource Opportunities - Indonesia is rich in nickel resources, essential for stainless steel and battery production, making it a strategic location for Chinese companies focused on electric vehicles [41][44]. - The partnership with Indonesia in nickel mining is crucial for securing supply chains and supporting the growth of the Chinese electric vehicle industry [44][45]. Group 7: Future Prospects - The Indonesian government aims to produce 600,000 electric vehicles by 2030, indicating a growing market for electric vehicles [39]. - The collaboration between Chinese companies and Indonesia in the mining sector could enhance the international standing of the Chinese currency, the Renminbi, in global trade [46][47].

Core Viewpoint - The establishment of Hainan Investment Company by the firm aims to enhance supply chain security, improve the industrial chain, integrate high-quality resources from upstream and downstream, leverage synergies, and boost overall competitiveness and profitability [1] Summary by Relevant Categories Company Strategy - The company has registered Hainan Investment Company to ensure supply chain security and enhance its industrial chain [1] - The focus is on integrating high-quality resources from both upstream and downstream sectors to create synergies [1] Operational Status - Currently, the company has just registered the investment entity and has not yet stationed personnel in Hainan [1]

Core Insights - The materials industry is facing unprecedented complexity due to technological iterations, capacity layout, and global supply chain restructuring, necessitating a clear and precise "industry map" for decision-makers [3] - The demand for comprehensive market insights is shifting from basic strategic direction to a deep understanding of the entire industry chain, market size, competitive landscape, and cost drivers [3] Group 1: Industry Chain Overview - Understanding one's position in the value chain and the interconnections with upstream and downstream partners is crucial for materials companies [4] - QYResearch provides dynamic "industry chain panoramas" to help companies identify potential suppliers, customers, partners, and competitors [5] Group 2: Market Size and Growth Trajectory - Accurate quantification of market size and growth rates is essential for informed decision-making regarding capacity planning and resource allocation [6] - QYResearch transforms vague market prospects into measurable growth trajectories, offering forecasts for market size, growth rates, and driving factors over the next five years [6] Group 3: Competitive Landscape Analysis - Understanding the competitive intensity, market shares, and strategic movements of key players is vital for existing companies and new entrants [7] - QYResearch conducts systematic analyses of major manufacturers, detailing their capacity layouts, product lines, and market shares [7] Group 4: Connecting Macro Trends with Micro Data - QYResearch links macro trends such as "dual carbon," "domestic substitution," and "supply chain security" with micro-level data like product sales and price trends [8] - The goal is to ensure that every decision made by clients is based on comprehensive and credible market insights [8] Group 5: Commitment to Objective Insights - In an era of information overload, QYResearch emphasizes the importance of presenting the most authentic market data and industry analysis [9] - The company focuses on delivering verified market facts to help businesses navigate their decision-making processes confidently [9]

Core Viewpoint - The Dutch government has decided to suspend its control over Nexperia, returning authority to Wingtech Technology, which alleviates tensions with China and addresses disruptions in global automotive production [3][4]. Group 1: Government Actions - The Dutch Minister of Economic Affairs, Vincent Karremans, announced the suspension of intervention regarding Nexperia on social media, indicating a significant de-escalation of the previous standoff [3][4]. - This decision follows constructive meetings between Dutch and Chinese officials, leading to a breakthrough that allowed for the suspension of export restrictions on components produced at Nexperia's Dongguan factory [6][10]. Group 2: Impact on the Industry - The dispute had previously disrupted production for several automotive companies, including Honda and Volkswagen, despite Nexperia's chips not being high-end products [4][6]. - The resolution of this issue highlights the global nature of supply chains and China's increasing influence in the semiconductor industry [4][6]. Group 3: Future Engagement - The Dutch government views this suspension as a goodwill gesture and plans to continue constructive dialogue with Chinese authorities moving forward [10][11].

荷兰经济部长卡雷曼斯近来在英国媒体上多次发表言论，表面宣称要为欧洲供应链安全出力，实际上却把自己还有荷兰政府推到了舆论的风口浪尖的处！ 事件起因很简单：欧洲晶圆源头公司安世科技（在德国、荷兰有重要工厂与客户网络）被传可能回迁至中国生产，外加美国对闻泰科技等的制裁传闻背景 下，荷兰方面急着给欧洲的半导体供应线站稳位，结果却踩到了自己设的陷阱。 咋回事儿？ 原来啊，荷兰把自己描绘成欧洲利益的孤胆英雄，把我们设置的安世CEO塑造成"不守信用"的反派角色，声称若时光可回，他们也会把安世从"中国的影 响力"下挪开，回到欧洲的直接控制之下。 你能想象得到，号称欧洲斗士的荷兰人也有吃瘪的一天？ 没错，荷兰人打算和我们脱钩！ 事情的转折点发生在2023年，美国方面曾要求将闻泰科技及其关联公司列入制裁名单，荷兰方面据称与中方负责人谈判，提出唯一解决方案是更换安世高 管、让公司独立于中国，以规避美国的穿透式制裁。 当时，安世那边得回去商议，不过过了两年仍然没有明确的答复。 荷兰人，等不住了。 到了2025年9月，荷兰忽然声称，收到一份紧急报告有人闯入办公室，称安世的CEO正在隐秘转移知识产权，而且打算把德国的供应链迁回中国。 卡 ...