荷兰采取的行动，可以说是 "狗急跳墙"。在过去的几十年里，跨国公司以投资保护 为依托，在全球范围内开展业务。然而荷兰政府此次出手，却是直接打 破了这一规则，毫无疑问是将商业问题政治化，变成了国际关系中的政治斗争工具。 据悉，荷兰的阿斯麦（ASML）等高科技企业高度依赖于稀土材料，而中国对稀土的出口限制，对该国的半导体制造产生了直接影响。这意味着，荷兰的举 动不仅是对中企资产的干预，也是出于保护自身利益的考量。通过冻结安世半导体的资产，荷兰可能意在获取谈判筹码，以便更好地应对来自中国的压力。 这种将商业与政治相结合的行为，无疑在重新塑造着国际投资环境。在未来，我们不能排除其他国家也效仿荷兰的做法，从而让中企海外资产面临更大 的"政治风险"。 可想而知，如果更多国家在没有确凿证据的情况下，将商业问题政治化，那么国际投资环境将会变得更加动荡不安。荷兰的这一次举动，已然开了一个坏 头，让人不得不警惕未来可能产生的连锁反应。国际贸易的契约精神与跨国公司所追求的长期稳定投资，恐将受到严重挑战。 近期，中国在稀土出口与技术管控方面的反制措施引发了全球的广泛关注和讨论。这一系列行动不仅仅是对某些国家的经济制裁，更是在国际贸易 ...

Group 1: Company Overview - Morgan Stanley initiates coverage on InnoPhase (02577) with an Equal Weight rating and a target price of HKD 95, noting that the stock price has nearly doubled since the announcement of its partnership with NVIDIA in July 2025, while the Hang Seng Index rose by 8% during the same period [1] - InnoPhase is expected to benefit from long-term growth drivers such as AI data centers, humanoid robots, and electric vehicles, although the current stock price reflects much of the growth potential already [1][3] Group 2: Market Potential - The GaN (Gallium Nitride) market is projected to reach a total potential market size of USD 346 million in 2024, within the broader semiconductor industry valued at USD 631 billion, with a forecasted compound annual growth rate (CAGR) of 49% from 2024 to 2029 [2] - Key growth factors for the GaN market include the adoption of 800V high-voltage DC power conversion in data centers, increased use of servomotors in humanoid robots, applications in electric vehicles (such as onboard chargers and LiDAR), and the demand for fast charging in consumer electronics [2] Group 3: Competitive Landscape - InnoPhase's vertical integration manufacturing model provides advantages in technology synchronization, stable production capacity, and cost efficiency, leading to an expected growth rate that surpasses the overall market [3] - Strategic partnerships with leading clients, including NVIDIA for AI data centers, Hesai Technology and Supcon for electric vehicles, and Zhiyuan Robotics for humanoid robots, highlight InnoPhase's technological leadership and strong growth potential [3] Group 4: Industry Challenges - The global GaN production capacity is projected to increase from 100,000 wafers per month in 2024 to 345,000 wafers per month by 2029, indicating potential oversupply in the market [4] - Despite an anticipated increase in capacity utilization, the overall utilization rate is expected to remain below 60% over the next five years, which may pressure pricing and profitability in the GaN market [4] - InnoPhase's gross margin is expected to improve moderately by 2026/27, reflecting the ongoing competitive pressures and potential for overcapacity [4]

（文章来源：每日经济新闻） 每经AI快讯，通富微电今日跌9.99%，成交额100.00亿元，换手率14.92%，盘后龙虎榜数据显示，深股 通专用席位买入4.79亿元并卖出7.43亿元，有3家机构专用席位净卖出2.76亿元。 ...

Core Viewpoint - The Chinese semiconductor industry association expresses strong support for its member company, Wintech Technology, in response to the Dutch government's intervention with its subsidiary, Nexperia, and opposes discriminatory measures against specific enterprises [1][2][4]. Group 1: Company Response - Wintech Technology's stock experienced a significant decline, hitting the limit down on October 13 and again on October 14, closing at 37.65 yuan per share [2]. - The company announced that Nexperia is still operating normally but faces challenges such as changes in decision-making processes and reduced resource flexibility due to the Dutch government's orders [5][6]. - Wintech is actively communicating with suppliers and customers to maintain stability in its workforce, production, and sales channels, while also exploring legal remedies to protect its rights [6]. Group 2: Industry Reaction - The Chinese semiconductor industry association emphasizes the need for a fair and non-discriminatory business environment and expresses serious concern over the intervention in Nexperia's operations [2][4]. - The association firmly opposes the misuse of "national security" concepts to impose selective restrictions on Chinese enterprises operating abroad [3][4]. - The association plans to continue monitoring the situation and will communicate the industry's collective concerns to the international community through legal channels [4].

Market Style Shift - The market style has shifted, with a notable performance from dividend stocks, particularly Agricultural Bank of China, which became the largest support for the Shanghai Composite Index [1][3] - Traditional blue-chip stocks like Kweichow Moutai, Industrial and Commercial Bank of China, China Life, and China Ping An have emerged as the main contributors to market gains [1][3] Semiconductor Industry Response - The China Semiconductor Industry Association issued a statement on October 14, opposing the misuse of "national security" concepts and discriminatory restrictions on Chinese companies' overseas branches, specifically referencing Nexperia, a subsidiary of Wentai Technology [3][4] - The association emphasized the need for a fair and non-discriminatory business environment to maintain the stability of the global semiconductor supply chain [3][4] Market Performance Overview - On October 10, the ChiNext and STAR Market experienced significant adjustments, with the STAR Market becoming a support force on October 13, but both markets faced declines again on October 14, with the STAR Market dropping nearly 3% by midday [3][4] - The Hang Seng Tech Index also saw a decline, with notable drops in stocks like Huahong Semiconductor and SMIC, which fell by 7% and 3.6% respectively [3][4] Contribution to Shanghai Composite Index - Key contributors to the Shanghai Composite Index's rise included: - Agricultural Bank of China: 2.63 points - Industrial and Commercial Bank of China: 2.05 points - Kweichow Moutai: 1.99 points - Other significant contributors included China Merchants Bank, China Life, and China Ping An [4] Economic Outlook and Investment Strategy - Analysts suggest that the current market environment may favor large-cap dividend stocks as a response to market volatility and capital flow pressures [6][8] - There is a potential for a renewed focus on domestic demand sectors such as food and beverage, aviation, and real estate, as well as non-bank financials benefiting from a recovery in overall capital returns [8]

记者 | 金珊 编辑 | 陈思颖 10月14日，三大指数 集体高开后分化，沪指一度重回3900点，创业板指冲高回落盘中跌超2%，此前涨超1%。 截至收盘，沪指涨0.21%，深成 指跌1.02%，创业板指跌2.24%。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3897.56 | 13096.03 | 1497.09 | | +8.06 +0.21% -135.44 -1.02% +9.68 +0.65% | | | | 科创50 | 创业板指 | 万得全A | | 1431.17 | 3009.94 | 6277.06 | | -41.85 -2.84% -68.83 -2.24% -27.02 -0.43% | | | | 沪深300 | 中证500 | 中证A500 | | 4590.64 | 7303.01 | 5522.71 | | -3.34 -0.07% -73.55 -1.00% -27.58 -0.50% | | | | 中证1000 | 深证100 | 中证红利 | | 7462.42 | 5726.55 | 5598.89 | | -57.3 ...

Core Viewpoint - The China Semiconductor Industry Association expresses serious concern over the intervention by the Dutch government affecting its member company, Wingtech Technology's subsidiary Nexperia, emphasizing the need for a fair and non-discriminatory business environment [1][2][3][4]. Group 1 - The association firmly supports its member companies in defending their legitimate rights and maintaining a stable global supply chain [1]. - It opposes the misuse of "national security" concepts to impose selective and discriminatory restrictions on Chinese companies' overseas branches [2]. - Discriminatory measures against specific companies are seen as detrimental to an open and collaborative global semiconductor ecosystem [3]. Group 2 - Wingtech Technology announced that its core semiconductor asset, Nexperia, faced dual restrictions from the Dutch government and courts, including a one-year freeze on operations and management changes [6]. - Following these developments, Wingtech's stock price experienced a significant drop, hitting the daily limit down on October 13 and again on the following trading day [6]. - The Chinese Ministry of Foreign Affairs reiterated its opposition to the politicization of trade issues and emphasized the need for adherence to market principles [8].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688110 证券简称：东芯股份 公告编号：2025-061 东芯半导体股份有限公司关于2025年 第三次临时股东会变更会议地址公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性依法承担法律责任。 一、股东会有关情况 1.原股东会的类型和届次： 2025年第三次临时股东会 2.原股东会召开日期：2025年10月16日 3.原股东会股权登记日： ■ 二、更正补充事项涉及的具体内容和原因 东芯半导体股份有限公司（以下简称"公司"）于2025年9月30日在上海证券交易所网站 （www.sse.com.cn）披露了《关于召开2025年第三次临时股东会的通知》（公告编号：2025-056）。因 股东会会务安排调整，更好的便于股东进行沟通交流，现决定将本次股东会现场会议召开地点调整为： 上海市青浦区徐泾镇诸光路1588弄上海虹桥绿地铂瑞酒店二楼会议室11。 三、除了上述更正补充事项外，于2025年9月30日公告的原股东会通知其他事项不变。 四、更正补充后股东会的有关情况。 1.现场会议召开的日 ...

【大河财立方 记者 王宇】10月13日，闻泰科技（600745.SH）开盘跌停。该公司在12日公告，荷兰政府要求 旗下控股子公司安世半导体及其下属所有子公司、分公司、办事处等全球30个主体对其资产、知识产权、业 务及人员等不得进行任何调整，有效期为一年。 | 证券 代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 600745 | 闻泰科技 | A 股 复牌 | | | 2025/10/10 | 2025/10/13 | | 110081 | 闻泰转债 | 可转债转股复牌 | | | 2025/10/10 | 2025/10/13 | | 110081 | 闻泰转债 | 可转债债券复牌 | | | 2025/10/10 | 2025/10/13 | 该公告一出，随即引发半导体行业关注。"该事件凸显中资企业收购欧洲半导体资产的系统性歧视，荷兰 以'黄金股'机制和国家安全审查扩大化，实质背离欧盟《外资审查框架条例》的'非歧视'原则。"上海市海华 永泰律师事务所高级合伙人孙宇 ...

1、美方威胁将从11月1日起对中国商品加征100%关税，中方回应 重要程度：★★★★★ 外交部发言人林剑主持10月13日例行记者会。会上法新社记者提问称：特朗普当地时间10日表示，针对中 方采取的稀土等相关物项出口管制，美国将会从11月1日起对中国商品加征100%关税，中方对此有何评论? 中方对自美进口商品是否会征收新的关税? 林剑对此表示，近一段时间来，美方持续出台一系列对华限制和制裁措施，严重损害中方利益。中方对此 坚决反对。如果美方一意孤行，中方也必将坚决采取相应措施，维护自身正当权益。 2、纽约金突破4100美元!白银也暴涨 重要程度：★★★★ 10月13日，金价持续走高，续创历史新高。其中，COMEX黄金12月合约升破4100美元/盎司，涨2.5%;现货 黄金报4082.09美元/盎司，涨1.6%。此外，COMEX白银则暴涨超5%。 据报道，10月13日，美国银行上调明年黄金和白银价格预期至每盎司5000美元(平均为每盎司4400美元)和 每盎司65美元(平均为每盎司56美元)。实体白银市场的极端失衡可能会在某个阶段恢复正常，从而加剧波 动性。 3、荷兰核心子公司骤然"失控" 闻泰科技：半导体80% ...