近年来，曾经以掌控全球局势为目标的美国，似乎在悄然调整其国际定位。根据多家媒体分析最近发布的美国战略文件，华盛顿正在构建一个新的国际格 局：美国将继续主导西半球，默许中国在亚洲事务中发挥更大作用，而欧洲则被有意边缘化。这种变化并非出于权力分享的意图，而是基于美国国力相对下 滑的背景下，为了保卫核心利益而进行的战略收缩。 美国首先将目光聚焦在自己真正视为自家领地的西半球。长期以来，美国对拉丁美洲的政策看似强调文明、民主与合作，言辞上也提倡伙伴关系与共同发 展，但其实质上一直带有强烈的单边主导性质。如今，这种话语体系逐渐褪色，取而代之的是赤裸裸的利益计算。新战略的核心诉求变得非常明确：首先要 稳固自己在西半球的后院，牢牢掌控该地区所有关键资源。 看似是退让，但实则是重新聚焦。当全球影响力难以持续时，选择性地收缩控制范围成了更现实的操作方式。这一转变背后，推动力量并非理想主义的退 潮，而是出于资源竞争和生存逻辑下的精准布局。 这一剧变的根本原因，正是全球产业发展所需的稀缺资源。无论是新能源汽车、高端芯片制造，还是现代军事工业，都高度依赖锂、稀土、钴和铜等矿产原 料，而拉美恰恰拥有世界上最丰富的这些战略资源。与其在全 ...

格隆汇12月17日｜法德合资的防御公司KNDS决定继续推进2026年在巴黎和法兰克福进行IPO的筹备工 作。先前有消息称，KNDS聘请了拉扎德（Lazard）担任顾问，可能在IPO中寻求约200亿欧元（约合 233亿美元）的估值。KNDS由德国克劳斯—玛菲·威格曼和法国奈克斯特系统公司于2015年合并成立， 产品线包括知名"豹-2"系列主战坦克。 ...

Core Viewpoint - Aerospace Intelligence (航天智造) reported a military product revenue of 6.7338 million yuan in the first half of 2025, representing a year-on-year growth of 6.96% [1] Group 1: Financial Performance - The military product revenue for the first half of 2025 is 6.7338 million yuan, which shows a growth of 6.96% compared to the same period last year [1] - The projected annual revenue after reaching full production capacity is estimated to be 150.0027 million yuan [1] Group 2: Business Development - The company has adjusted project construction content to enhance production capacity for large-scale drug columns and pyrotechnic products, aiming to strengthen its military product business [1] - The adjusted project is expected to reach operational status by September 30, 2026 [1]

2025.12. 17 本文字数：343，阅读时长大约1分钟 住建部部长：我国房地产发展仍有较大潜力和空间；美国务院批准1亿美元对日军售；世卫组织：全 球流感处于季节性流行水平｜早报 微信编辑 | 七三 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 （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 史上最大的IPO要来了？ 据央视新闻，美国国防部下属机构防务安全合作局12月16日发布新闻公报说 ，美国国务院已批准一 笔价值约1亿美元的对日军售 ，向装备"宙斯盾"作战系统的日本海上自卫队驱逐舰提供技术支持及 相关设备。 新闻公报说， 日本政府请求购买"宙斯盾"驱逐舰的后续技术支持 ，包括作战系统海上鉴定试验、测 试与评估服务、"宙斯盾"计算机软件更新、系统集成和测试等，预计总费用为1.002亿美元。防务安 全合作局已向美国国会提交所需认证文件。 这笔军售的主要承包商将是洛克希德-马丁公司。 更多最新消息： ...

据央视新闻，美国国防部下属机构防务安全合作局12月16日发布新闻公报说， 美国国务院已批准一笔价值约1亿美元的对日军售 ，向装备"宙斯 盾"作战系统的日本海上自卫队驱逐舰提供技术支持及相关设备。 新闻公报说， 日本政府请求购买"宙斯盾"驱逐舰的后续技术支持 ，包括作战系统海上鉴定试验、测试与评估服务、"宙斯盾"计算机软件更新、系统 集成和测试等，预计总费用为1.002亿美元。防务安全合作局已向美国国会提交所需认证文件。 这笔军售的主要承包商将是洛克希德-马丁公司。 ...

美国国防部下属机构防务安全合作局12月16日发布新闻公报说，美国国务院已批准一笔价值约1亿美元 的对日军售，向装备"宙斯盾"作战系统的日本海上自卫队驱逐舰提供技术支持及相关设备。 （文章来源：央视新闻客户端） 这笔军售的主要承包商将是洛克希德-马丁公司。 新闻公报说，日本政府请求购买"宙斯盾"驱逐舰的后续技术支持，包括作战系统海上鉴定试验、测试与 评估服务、"宙斯盾"计算机软件更新、系统集成和测试等，预计总费用为1.002亿美元。防务安全合作 局已向美国国会提交所需认证文件。 ...

Core Viewpoint - The article highlights the strategic acquisition of rare earth elements by U.S. defense companies from China, establishing significant stockpiles to support critical defense projects, while European companies face supply chain challenges and regulatory hurdles [1][3][20]. Group 1: U.S. Defense Companies' Actions - Multiple U.S. defense firms have been revealed to be purchasing large quantities of rare earth elements from China, creating strategic reserves that can support key defense projects for approximately two years [1][3]. - MP Materials, the largest beneficiary, operates the only rare earth mine in the U.S. and has secured a ten-year fixed-price contract with the government to mitigate market risks [3][9]. - The U.S. Department of Defense classified rare earths as "strategic defense-level resources" in 2021, leading to significant procurement over the following three years [3][9]. Group 2: European Concerns and Challenges - European countries are increasingly worried about their reliance on rare earths, as U.S. companies have been able to secure supplies more efficiently than their European counterparts [3][11]. - European firms often lack the foresight in procurement, leading to supply chain disruptions, while U.S. companies have established contracts and partnerships ahead of market tensions [11][15]. - The tightening of export controls by China has left many international companies unprepared, exacerbating the supply issues faced by European firms [5][11]. Group 3: Market Dynamics and Geopolitical Implications - The global pricing of rare earth oxides has surged, with prices for neodymium and terbium increasing by over 40% in three months, reflecting heightened market tensions [13][20]. - The geopolitical landscape surrounding rare earths has shifted, with countries like Vietnam also imposing export restrictions, complicating the supply chain further for European companies [13][20]. - The competition for rare earths has evolved into a comprehensive geopolitical strategy, where control over resources translates into industrial advantages in the global market [20].

2025年末，普京踏上了筹备四年的印度之行，这场被外界称为"翻身之战"的外交活动，刚开局就弥漫着火药味。 特朗普几乎同步抛出重磅诱饵："把印度关税从50%降至15%-16%，给你盟友待遇"，一边是急需外汇的俄罗斯，一边是手握关税优惠的美国，印度这个"香 饽饽"站在了天平中央。 可俄罗斯对印度的依赖，早已远超外界想象，这场博弈的结局，不仅关乎俄印关系，更可能改写全球能源与军事贸易格局。普京的访印之行，真能抓住这根 救命稻草吗？ 俄罗斯当前最致命的危机，是"缺钱"，国际货币基金组织数据显示，俄财政赤字率已升至3.8%，超出3%的安全线1.2个百分点。 全球央行都在增持黄金避险时，俄央行上半年却减持120吨黄金，连外汇储备都成了填补缺口的"应急资金"，财政造血能力近乎枯竭。 仅原油采购就花了550亿美元，再加上天然气和军工产品，印度贡献了俄能源出口的重要外汇，对缺钱的俄罗斯来说，印度绝非普通贸易伙伴，而是必须牢 牢抓住的"提款机"。 俄罗斯的对印依赖，恰好给了美国"趁虚而入"的机会，特朗普的拉拢策略精准击中印度与俄罗斯的软肋。 关税优惠是最诱人的筹码，15%-16%的关税待遇，是美国给日本、欧盟、韩国的"盟友级福利 ...

Core Insights - The U.S. defense budget for 2025 is set at $895.2 billion, which exceeds the combined military spending of the next nine countries and could purchase a significant portion of the European stock market [1][7] - The current state of the U.S. military-industrial complex is characterized by inefficiencies, corruption, and a lack of effective production capabilities, leading to a situation where funds do not translate into tangible military assets [1][7] Group 1: Budget and Spending - The F-35 program has consumed $1.7 trillion, equivalent to funding three Gulf Wars or rebuilding two Ukraines, yet it suffers from high failure rates and long maintenance schedules [3][7] - The U.S. shipbuilding industry has seen a drastic decline, with China capturing 50% of the global market share while the U.S. holds only 0.1%, indicating a severe industrial gap [5][7] Group 2: Industrial Capacity and Workforce - The existing industrial system is unable to convert financial resources into military supplies, exemplified by the inability to produce basic ammunition for Ukraine despite congressional funding [7][23] - The U.S. military-industrial sector has undergone significant consolidation, leaving only six major contractors, which has led to a lack of competition and innovation [10][12] Group 3: Supply Chain Vulnerabilities - A significant portion of critical minerals required for defense production is sourced from China, exposing the U.S. to supply chain vulnerabilities in times of conflict [14][23] - The military-industrial complex has shifted focus from defense production to financial gains, with executives prioritizing stock buybacks over national security [16][23] Group 4: Labor Issues and Future Outlook - Labor unrest is evident, as seen in the Boeing strike involving 3,200 workers, highlighting dissatisfaction with wages and working conditions in the defense sector [18][23] - The aging workforce in manufacturing poses a long-term challenge, as younger generations are opting for careers outside traditional manufacturing roles, leading to a skills gap [20][23] Group 5: Reform Challenges - Efforts to reform the procurement process face significant resistance from entrenched interests within the military-industrial complex, making it difficult to implement necessary changes [21][23] - The current military spending is resulting in unaccounted expenses and delays, contributing to a downward spiral in the defense industry's effectiveness [23]

Market Overview - The Hong Kong stock market showed a gloomy sentiment on December 9, with all three major indices closing down: the Hang Seng Index fell by 1.29% to 25,434.23 points, the Hang Seng China Enterprises Index dropped by 1.62% to 8,936.41 points, and the Hang Seng Tech Index decreased by 1.90% to 5,554.68 points [2]. Company Performance - Major technology stocks experienced declines, with Baidu Group-SW and Xiaomi Group-W both falling over 3%, while Kuaishou-W and Meituan-W dropped more than 2%. Other notable declines included Netease-S, Alibaba-W, and JD Group-SW, which all fell over 1% [4]. - Heavy infrastructure stocks suffered significant losses, with China Metallurgical Group (China Zhongye) plunging over 21%, and Chalco International (China Aluminum International) dropping more than 4% [4][7]. - Semiconductor stocks also faced downturns, with Huahong Semiconductor falling over 5% and SMIC dropping more than 4% [4]. Specific Company News - China Metallurgical Group announced plans to sell its 100% stake in China Metallurgical Real Estate and related debts to Minmetals Land Holdings for approximately 60.7 billion yuan. Additionally, it will sell stakes in several subsidiaries to China Minmetals [7]. - In a separate development, Agile Group Holdings faced a significant drop in stock price, falling over 21% to a historical low of 0.3 HKD per share, ultimately closing down 18.42% at 0.31 HKD per share. This decline followed a petition for liquidation filed by a project partner [9].