来源：环球市场播报 全球财经媒体昨夜今晨共同关注的头条新闻主要有： 美国制造业活动连续第七个月萎缩 订单指标再次回落 美国9月制造业活动连续第七个月萎缩，订单量回落，进一步表明制造业缺乏动能。 美国供应管理协会（ISM）周三发布的数据显示，9月制造业指数小幅上升0.4点至49.1。该指标全年一 直在窄幅区间内波动，低于50表明制造业处于收缩状态。 订单指标下降2.5点至48.9，在8月短暂扩张（为1月以来首次）后重新陷入收缩。9月工厂就业下滑幅度 略有收窄，但整体水平仍处于历史低位。 1、美国制造业活动连续第七个月萎缩 订单指标再次回落 2、英国拟对新上市公司股票免征印花税 3 、马斯克成为第一个净资产接近5000亿美元的人 4 、 英特尔股价大涨 拟为AMD代工生产芯片 5、 谷歌在云计算部门裁减了100多个与设计相关的职位 6、萨默斯抨击美联储理事米兰首秀演讲：大幅降息论缺乏分析支撑 根据福布斯亿万富翁指数，特斯拉首席执行官马斯克周三成为历史上第一个净资产接近5000亿美元的 人。 截至美国东部时间下午3点43分，马斯克的净资产为4995亿美元。 英特尔股价大涨 拟为AMD代工生产芯片 英国拟对新上市公司 ...

来源 | 环球时报 2025.10. 01 本文字数：513，阅读时长大约1分钟 （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 捷豹路虎3.3万名员工被告知"停工停产" t查询行者 2 代 H t a a 二十 11 - - . . 7 图 ND ROVER the state res HDR W a a 据台湾联合新闻网10月1日报道，由台"行政院副院长"郑丽君率领的谈判团队，结束与美方进行的第 五轮实体磋商返抵台湾。对于美方提出的芯片制造"五五分"构想，郑丽君表示台方从未做出此承诺， 也不会答应。 对此，郑丽君返台后特别澄清说，这是美方的想法，台方谈判团队从来没有做出"五五分"的承诺，这 也跟现在台美双方正磋商中的供应链合作投资方向不同，"我们从未做出五五分的承诺，也不会去答应 这样的条件，我们绝对会审慎以对"。 微信编辑 | 龙王 第 一 财 经 持 续 追 踪 财 经 热 点 。 若 您 掌 握 公 司 动 态 、 行 业 趋 势 、 金 融 事 件 等 有 价 值 的 线 索 ， 欢 迎 提 供 。 专 用 邮 箱 ： bianjibu@yicai.com ...

文 | 果冉多 编辑 | 果冉多 声明：本文基于权威资料并结合个人观点撰写，文末附有来源及截图，请知悉。 特朗普并不是不知道这场贸易战赢不了，而是他输不起。关税战输了，芯片战也没奏效，如今他干脆把最后的赌注压在台湾身上。 9月27日，美国商务部长卢特尼克在接受采访时公开提出，要推动"台美芯片产能五五开"的计划，理由是台湾离中国大陆太近，存在"不可接受的战略风 险"。 但问题在于，这颗"地雷"不是埋在中国，而是埋在美国自己脚下。一旦爆炸，受伤的不只是中国，美国赖以维持的高科技神话也可能被击碎。 特朗普政府的错误，已经不只是战术问题，而是战略层面的误判。无论是34%、84%，还是125%的对等关税，美方一再加码，但中国并未屈服，反而在应对 中展现出更强的韧性。 中国的反制手段并不仅限于关税报复。在今年5月的日内瓦会谈上，中方借机与美方谈判，不仅迫使对方取消了91%的高关税，还争取到了24%的临时豁 免。这本该是缓和关系的机会，但特朗普并不甘心，于是转而盯上台湾芯片，试图从产业根基上掏空中国的软肋。 卢特尼克的"五五产能"提案，看似为供应链安全考虑，实际上是赤裸裸的地缘政治操作。他说台湾离中国太近、离美国太远，不利 ...

Core Viewpoint - The U.S. government has agreed to acquire shares in Lithium Americas to support the development of the Thacker Pass lithium mine project in Nevada, which is crucial for the domestic critical minerals supply chain [5][6]. Group 1: Stock Market Reaction - Following the announcement, Lithium Americas' stock price surged over 40% in after-hours trading, later stabilizing around a 35% increase. By the morning of October 1, the stock had risen more than 30% [2]. Group 2: Government Involvement - The U.S. Department of Energy, led by Secretary Chris Wright, is negotiating to acquire a 10% stake in Lithium Americas, which is seen as a significant move to secure rights to the largest lithium mine in the U.S. [5][6]. - The government is also renegotiating a $2.26 billion loan agreement with Lithium Americas as part of this investment strategy [5]. Group 3: Thacker Pass Lithium Mine - The Thacker Pass lithium mine is noted for having the largest known lithium resources and reserves globally, supporting the development of the northern Nevada lithium mining area. The project commenced construction in March 2023 and aims to achieve an annual production capacity of 160,000 tons of battery-grade lithium carbonate in five phases [7]. - The first phase is expected to produce 40,000 tons of battery-grade lithium carbonate annually, sufficient for 800,000 electric vehicles. Lithium Americas holds a 62% stake in the project, while General Motors owns 38% and has a 20-year purchase agreement for the output [8]. Group 4: Broader Government Investment Strategy - The U.S. government has been actively acquiring stakes in various companies to bolster its domestic supply chains. Recent examples include a $400 million investment in MP Materials, the only rare earth miner in the U.S., and an $8.9 billion investment in Intel to support the semiconductor industry [10][11].

据台湾联合新闻网10月1日报道，由台"行政院副院长"郑丽君率领的谈判团队，结束与美方进行的第五 轮实体磋商返抵台湾。对于美方提出的芯片制造"五五分"构想，郑丽君表示台方从未做出此承诺，也不 会答应。 美国商务部长卢特尼克日前提出，特朗普政府的目标是将芯片制造业务大幅转移到美国本土，以便自主 生产芯片。他还向台湾提出"五五分"的构想，即美国生产一半，台湾生产一半。 责任编辑：何俊熹 话虽如此，但台当局能否抗住美国的压力尚待观察。一段时间来，赖清德当局不断在芯片、农产品等多 个领域向美国让步，被岛内舆论抨击将"贡品"献美只会进一步掏空台湾，难逃被美国吃干榨尽的结局。 对此，郑丽君返台后特别澄清说，这是美方的想法，台方谈判团队从来没有做出"五五分"的承诺，这也 跟现在台美双方正磋商中的供应链合作投资方向不同，"我们从未做出五五分的承诺，也不会去答应这 样的条件，我们绝对会审慎以对"。 ...

Core Insights - The article highlights that Angstrem, a state-owned microchip manufacturer in Russia, has been ranked as the most significant loss-making company in Russia for 2024, with a net loss of 236.3 billion rubles (approximately 2.86 billion USD) [2] - The majority of the losses stem from acknowledging a debt to its parent company, VEB, amounting to 238.2 billion rubles (approximately 2.88 billion USD) [2] - Angstrem's revenue was only 5 billion rubles (approximately 60.5 million USD), indicating that its net loss is nearly 47 times its revenue [2] Financial Performance - Angstrem's losses surpass those of other major state-owned enterprises, including Russian Trust Bank (130.7 billion rubles, about 1.58 billion USD), Russian Railways (116.9 billion rubles, about 1.41 billion USD), and the Moscow Metro (107.7 billion rubles, about 1.3 billion USD) [2] - The total losses of the top ten state-owned enterprises reached 652.8 billion rubles (approximately 7.91 billion USD), accounting for 70% of the total losses in the sector [2] Historical Context - The financial troubles of Angstrem can be traced back to 2008 when the factory was controlled by a company linked to former communications minister Leonid Reiman, which borrowed 815 million euros from VEB for production purposes [2] - By 2014, tax authorities indicated that Angstrem had effectively lost its operational capability [3] - In January 2019, VEB seized the factory's equipment and shares, filing for bankruptcy with total debts reaching 1.3 billion euros [3] Recent Developments - A court recently removed the factory's debt guarantee obligations, transferring its assets to VEB for a nominal price of one ruble (0.01 USD) [3] - Leonid Reiman has distanced himself from this failed venture and his new company, Rutek, has received government support to build a new factory in the Saransk economic zone, focusing on import substitution for various electronic devices [3] - Rutek's previous import substitution efforts have faced scrutiny, particularly regarding the R-Phone, which was found to be a rebranded device from Bangladesh sold at three times the original price [3]

Core Viewpoint - TSMC is accelerating the construction of its new factory in Arizona, aiming for mass production of 2nm and A16 processes by 2027, one year ahead of the original 2028 schedule, driven by strong demand from US clients and geopolitical considerations [2][3]. Group 1: TSMC's Production Plans - TSMC's Arizona factory is expected to start mass production of the A16 process in 2027, with the 2nm process also being expedited [2]. - The first wafer fab in Arizona is set to begin mass production using 4nm technology in Q4 2024, achieving yield rates comparable to those in Taiwan [2]. - The second fab, utilizing 3nm technology, has been completed, and TSMC is seeing strong interest from advanced US clients, prompting an acceleration of production timelines [2]. Group 2: Geopolitical Context - The acceleration of TSMC's US manufacturing reflects the strong demand for local production from American clients and aims to mitigate geopolitical risks [2]. - The US government has proposed a "50-50" chip production model, emphasizing the need for TSMC to increase its manufacturing presence in the US [5][6]. - TSMC's strategy aligns with the US's broader goals of protecting strategic industries and responding to potential tariffs on chips [3][5]. Group 3: Future Considerations - TSMC plans to produce 2nm chips in Taiwan by the second half of 2025 and A16 chips by the second half of 2026 [3]. - The company is considering further accelerating production in response to strong AI-related demand from clients [2]. - TSMC's future strategies must focus on maintaining its competitive edge amid evolving US policies and market dynamics [7].

来源 ： 内容 编译自 barrons 。 很少有公司比阿斯麦控股 (ASML Holding) 更能从人工智能热潮中获益。这家荷兰公司几乎垄断 了用于生产数据中心高性能芯片的专用光刻机市场，而这一业务正以前所未有的速度蓬勃发展。 ASML 的美国存托凭证在过去一年上涨了 11%。然而，由于受到无法保证在2026年保持增长 。该 公司面临一个大问题。ASML 最新的极紫外光刻 (EUV) 设备大客户数量有限，而目前，其中一家 ——台积电(TSMC)——在先进芯片制造领域占据主导地位。这令人担忧，因为当芯片制造商争夺 霸主地位，不断升级设备以保持领先地位时，ASML 才能蓬勃发展。 ASML 目前正在销售新一代"高数值孔径" EUV 机器，即 High NA EUV。它是 独家供应商 并预 计这些工具将在未来十年内实现更小的芯片。然而，每台这些工具的成本可能超过4亿美元。 台积电显然对这个价格犹豫不决。一位高管在5月份的一次行业会议上表示，这家芯片制造商相信 可以延长其现有EUV光刻机的使用寿命。 这家台湾公司在一封电子邮件声明中告诉《巴伦周刊》： "当高数值孔径 EUV 技术成熟并准备好 为我们的客户带来最大 ...

国内新闻 财政部：1-8月国有企业利润总额27937.2亿元 同比下降2.7% 9月29日，财政部数据显示，1-8月，国有企业营业总收入539620.1亿元，同比增长0.2%。1-8月，国有企业利润总额27937.2 亿元，同比下降2.7%。 8月集成电路、航空航天器、工业机器人、新能源汽车等领域快速增长 国家发展改革委政策研究室副主任、新闻发言人李超29日在新闻发布会上表示，8月份规模以上装备制造业，高技术制造业 增加值同比分别增长了8.1%和9.3%，比工业增加值整体增速快了2.9和4.1个百分点。集成电路、航空航天器、工业机器人、民用 无人机、新能源汽车等领域保持了快速增长。 8月汽车商品进出口总额为258.1亿美元 环比增长3.3% 9月29日，据中国汽车工业协会整理的海关总署数据显示，2025年8月，汽车商品进出口总额为258.1亿美元，环比增长 3.3%，同比下降0.3%。其中进口金额41.7亿美元，环比下降7.4%，同比下降38.4%；出口金额216.4亿美元，环比增长5.6%，同 比增长13.2%。2025年1-8月，全国汽车商品累计进出口总额为1820.1亿美元，同比下降1.2%。其中进口金 ...

Core Insights - Lei Jun, the founder of Xiaomi, expressed the significant financial pressure of supporting two university students, which metaphorically refers to the company's investments in electric vehicles and chip development [2][25] - As of April 2025, Lei Jun's net worth reached $43.5 billion, primarily due to the recovery of Xiaomi's stock price and the delivery of the SU7 model [3] - Xiaomi's total investment in its automotive venture has exceeded 105 billion yuan, with plans to invest an additional 30 billion yuan in 2025 alone [13][15] Investment in Automotive Sector - Xiaomi's automotive project has incurred a total investment of 105 billion yuan over five years, with a single-year plan for 2025 to invest 30 billion yuan [13][15] - The SU7 model's development costs alone surpassed 30 billion yuan, and the automotive division reported a quarterly loss of 1.8 billion yuan despite achieving a revenue of 20.6 billion yuan in Q2 2025 [15] - Xiaomi's automotive strategy aims for a sales target of 300,000 units annually, emphasizing the importance of substantial investment in technology and product quality [15][25] Investment in Chip Development - Xiaomi's chip development has seen an investment of over 13.5 billion yuan in 2023, with a projected budget of over 6 billion yuan for 2025 [22] - The cost of developing the 3nm flagship processor "Xuanjie O1" reached $1 billion per iteration, highlighting the high stakes involved in chip manufacturing [22] - The chip division's R&D expenses accounted for 18% of total R&D spending in 2023, with a team of over 2,500 engineers [22] Strategic Vision and Market Position - Lei Jun's annual speeches have become a significant platform for Xiaomi's strategic narrative, focusing on innovation and product launches [9][12] - The company aims to leverage its existing smartphone user base to drive growth in both the automotive and chip sectors, creating a synergistic effect [21] - Xiaomi's commitment to long-term investment in high-tech sectors reflects a broader trend in Chinese enterprises striving for technological advancement and industry upgrades [25]