2025年7月18日星期五 ➢ 美国国会通过稳定币法案；美对 中国石墨征高关税。A股午后拉升。 上证指数涨0.37%报3516.83点，深 证成指涨1.43%，创业板指涨1.76%。 航天航空、制药板块涨幅居前。 港股弱势震荡。香港恒生指数收 跌0.08%报24498.95点，恒生科技 指数涨0.56%，恒生中国企业指数 跌0.09%。创新药高歌猛进。大盘 成交额2364.125亿港元。外盘方面， 欧洲三大股指收盘全线上涨。美 国三大股指全线收涨，道指涨 0.52%，标普500指数涨0.54%，纳 指涨0.74%。美国国会通过稳定币 法案。美国商务部拟对中国产石 墨征收93.5%的反倾销关税，电动 汽车供应链料受影响。 | 24498.95 | -0.08 | 23.24 | | --- | --- | --- | | 8853.10 | -0.09 | 22.64 | | 5448.85 | 0.56 | 23.51 | | 127.65 | 0.16 | -11.29 | | 3516.83 | 0.37 | 5.08 | | 10873.62 | 1.43 | 4.72 | | 4034.49 | 0. ...

7月17日通信ETF、创业板人工智能ETF震荡走高，分别收涨3.89%、3.04%。 资料来源：wind 消息面上，台积电公布Q2业绩，第二季度营收和净利润均创下历史新高，超出市场预期。从下游看，HPC和Smartphone分别占比60%和27%，分别环 比增长14%、7%。台积电作为英伟达等GPU厂商的主要代工企业，同步受益了Q2英伟达GB200的放量。台积电Q2的HPC环比增长14%，占比也进一 步提升，证明了GPU及ASIC等需求旺盛。此外，消费电子Q2收入环比增加7%。下半年是消费电子传统旺季，Q2收入增长反映了较好的销量预期和 备货需求。 投资人应当充分了解基金定期定额投资和零存整取等储蓄方式的区别。定期定额投资是引导投资人进行长期投资、平均投资成本的一种简单易行的 投资方式。但是定期定额投资并不能规避基金投资所固有的风险，不能保证投资人获得收益，也不是替代储蓄的等效理财方式。 无论是股票ETF/LOF基金，都是属于较高预期风险和预期收益的证券投资基金品种，其预期收益及预期风险水平高于混合型基金、债券型基金和货 币市场基金。 基金资产投资于科创板和创业板股票，会面临因投资标的、市场制度以及交易规则等 ...

智东西7月17日报道，7月16日-7月20日，第三届中国国际供应链促进博览会在北京举办。除了近几天走到哪儿都自带流量的英伟达创始人黄仁 勋之外，本届链博会还汇聚了超650家企业参展，展出了AI、机器人、芯片、XR等领域的"黑科技"，吸引大量观众顶着烈日排队进场参观。 在链博会期间的多场采访、演讲中，黄仁勋屡次夸赞中国的供应链堪称"奇迹"，布局完备，技术先进，在全球供应链中扮演重要作用。如果对 黄仁勋的夸赞没有实感，链博会上中国供应链的实力展示就是最好的证明。 本届链博会的数字科技链展区可谓是AI与机器人的主场。据智东西不完全统计，在该区占地1.4万平米的100多个展台上，有超过20台人形机器 人出现在展馆的各个角落，而它们每次出现，都能吸引观众驻足互动。AI技术不仅融入了智能手机、AI PC、AI眼镜、智能汽车、智能农机等 终端上，也为AI应用、智慧城市、智慧工厂提供"大脑"。 链博会的一大特色是供应链上下游的协同与合作。今年链博会上，苹果再次携手供应链企业参展，展台上没有iPhone，没有MacBook，却有好 几条生产线在运行；英伟达（首次参展）、英特尔、高通、美光在内的多家国际芯片半导体厂商参展，不过主 ...

金十数据整理：每日科技要闻速递（7月18日） 人工智能： 其他： 1. OpenAI宣布推出ChatGPT代理。 2. 美媒：特朗普将颁布AI相关政令，确保AI政治中立。 3. 黄仁勋：人工智能下一个浪潮是物理AI。 4. 字节视觉大模型负责人杨建朝今日内部官宣休息，周畅接任。 5. 马斯克证实：特斯拉车载Grok将迎来"Hey Grok"语音唤醒功能。 1. 京东回应外卖"0元购"大战：完全没参与。 2. 追觅被曝将入局充电宝赛道，采用固态电池技术。 3. 上海脑机接口技术取得突破：10例受试者实现"意念说话"。 4. 上海宣布筹建开放计算系统研究院，并发布RISC-V生态街区。 5. 我国火箭院建成大型洁净气浮微重力实验室，具备空天操控领域多功能试验能力。 6. 消息称闪迪放弃500+亿美元在美大型晶圆厂建设投资项目。 7. 台积电二季度净利润3982.7亿新台币同比增长60.7%，3纳米营收占比24%。 ...

Core Viewpoint - Fine M-Tec announced an investment of approximately 175 billion Korean Won to expand its precision laser capacity in response to the growing foldable phone market, with the investment period from July 17, 2025, to January 20, 2027 [1] Group 1 - The announcement aligns with previous predictions that Apple will use laser drilling technology for the display metal plates of its foldable iPhone due to higher requirements for a seamless design [1] - Samsung is expected to launch the new foldable phone Galaxy Z Fold 8 in the second half of 2026, which will also utilize higher-priced laser-drilled display metal plates to compete with the foldable iPhone, with Fine M-Tec as the exclusive supplier, enhancing its ASP/profit margins significantly in 2026 [1] - Fine M-Tec's investment for the foldable iPhone is not yet complete, indicating that further investment announcements are anticipated [1]

（草案）摘要 二○二五年七月 深圳市智动力精密技术股份有限公司 2025 年限制性股票激励计划（草案）摘要 声明 证券代码：300686 证券简称：智动力 公告编号：2025-051 深圳市智动力精密技术股份有限公司 本公司及全体董事、监事保证本激励计划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、准确性和完整性承担个别和连带的法律责任。 本公司所有激励对象承诺：若本公司因信息披露文件中有虚假记载、误导性陈 述或者重大遗漏，导致不符合授予权益或权益归属/解除限售安排的，激励对象应 当自相关信息披露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本 激励计划所获得的全部利益返还本公司。 深圳市智动力精密技术股份有限公司 2025 年限制性股票激励计划（草案）摘要 特别提示 激励对象根据本激励计划获授的限制性股票在解除限售/归属前均不得转让、 用于担保或偿还债务等。 符合本激励计划授予条件的激励对象所获授的第一类限制性股票，经中国证 券登记结算有限公司深圳分公司登记过户后便享有其股票应有的权利，包括但不 限于该等股票的分红权、配股权、投票权等。 一、《深圳市智动力精密技术股份有限公司 2 ...

Core Viewpoint - Anker Innovation Technology Co., Ltd. is currently conducting research and analysis on equity financing in the Hong Kong capital market, indicating a strategic move to explore opportunities for listing in Hong Kong [1] Group 1: Company Actions - Anker Innovation has announced its intention to study equity financing options in Hong Kong [1] - The company is part of a growing trend of A-share companies seeking listings in Hong Kong, with 10 companies having done so in the year to date [1] Group 2: Market Trends - The number of companies listed simultaneously on both A-share and Hong Kong markets (A+H companies) has reached 160 [1] - Market analysts believe that with policy support, the synergistic effects between the mainland and Hong Kong markets will be further realized, suggesting a continuation of the trend for companies to list in Hong Kong [1]

（原标题：当硬件厂商也要"吃广告"：惠普如何把PC变成广告平台？） 在流量红利见顶、注意力碎片化的当下，广告主们最紧迫的难题是：该把广告投向哪里，才能被真正看 到？ 而正在发生的一个重要趋势是，硬件厂商们正集体转身，争夺广告预算。继三星、LG等智能电视厂商 通过系统级入口构建广告网络后，PC制造巨头惠普（HP）也正式入局，悄然搭建了名为"HP Media Network"的广告平台。这个网络不仅覆盖了上亿台设备，还提供多种原生广告形式和基于设备行为的精 准定向能力，试图让传统电脑也成为广告投放的新入口。 这是一次关于"终端变现"的路径探索，也是设备厂商在消费电子趋于饱和后的新商业逻辑。 设备厂商的新生意：广告 惠普正将这些设备当作"广告位"，通过系统级投放，向广告主售卖广告产品，具体包括： l 系统弹窗类原生广告（如右下角"Toast"格式）； l 邮件及社交媒体渠道的品牌露出； l 与微软、Kargo等广告技术公司合作的站外投放； l 即将推出的免费广告支持电视服务（FAST），包含视频贴片、暂停广告和主页轮播位等。 其中最引人注目的"Toast"广告曾在2024年假日季被用来推广惠普自家促销活动，最终获得 ...

Core Viewpoint - Wentech Technology has announced a strategic shift away from its consumer electronics ODM business, following its inclusion on the Entity List, and is now focusing entirely on the semiconductor sector [1][8][12] Group 1: Strategic Shift - The company has initiated a comprehensive divestiture of its core domestic manufacturing assets related to consumer electronics, with the process expected to be completed by July 2025 [1][6] - The divestiture includes production lines, R&D teams, sales channels, and customer resources associated with smartphones and tablets, marking a complete exit from the ODM field [1][8] - A significant management overhaul has occurred, with four original executives leaving and three experienced professionals from Nexperia Semiconductor taking their places, indicating a strong commitment to the semiconductor business [1][10] Group 2: Financial Performance - Wentech Technology's financial results for the first half of 2025 are projected to show a net profit of 390 million to 585 million yuan, representing a year-on-year increase of 178% to 317% [1][9] - The company has reported a significant turnaround in its semiconductor business, with revenue growth exceeding 8% in the first quarter and double-digit growth in the second quarter [9][11] - The divestiture strategy is expected to enhance profitability, as the company transitions from losses in its product integration business to gains in the semiconductor sector [9][12] Group 3: Market Position and Future Outlook - The semiconductor business has shown strong growth, particularly in automotive applications, with over 60% of revenue coming from automotive-grade products [11] - The company is experiencing robust demand in various regions, including a 30% growth in automotive business in China and a recovery in inventory levels in Europe [11][12] - Analysts emphasize the importance of strategic autonomy for the company, suggesting that its focus on technology and product positioning will help build a competitive edge in the long term [12][13]

Core Viewpoint - The article draws a parallel between Kodak's failure to adapt to digital technology and Apple's current challenges in the face of the AI revolution, suggesting that Apple may be experiencing its own "Kodak moment" as it grapples with the implications of AI on its business model and product strategy [2][5][10]. Group 1: Historical Context - Kodak's management buried the invention of the first digital camera in 1975 due to fear of disrupting its film-based business, leading to its eventual bankruptcy in 2012 [2]. - Nokia, once a dominant player in the mobile phone market with a 40.5% share in 2007, failed to innovate effectively due to its closed operating system, which hindered its ability to adapt to the smartphone revolution initiated by the iPhone [3]. Group 2: Current Challenges for Apple - Apple's AI strategy, particularly with the release of Apple Intelligence, is perceived as lagging behind competitors like Microsoft and Google, which have adopted more open and flexible approaches to AI development [5]. - The company's traditional hardware-centric revenue model, with iPhone hardware accounting for 51.45% of total revenue in 2024, conflicts with the software and service-oriented nature of AI, raising questions about the sustainability of its business model [5]. Group 3: Internal Dynamics - Significant executive turnover at Apple, including the departure of key figures such as the Chief Human Resources Officer and Chief Financial Officer, raises concerns about the company's commitment to AI investment and strategic direction [8]. - The AI team's turnover rate at Apple reached 34% in 2024, significantly higher than Google's 15.1%, indicating a talent drain to more aggressive AI startups [8]. Group 4: Comparative Analysis - The speed of AI adoption is much faster than that of smartphones, with AI penetration reaching 35% in under three years compared to nine years for smartphones to reach 40% [12]. - The estimated cost to establish a leadership position in AI exceeds $20 billion, highlighting the increased financial burden on traditional tech giants compared to the $12 billion required for smartphone ecosystems [12]. Group 5: Future Implications - The potential for AI to diminish the importance of specific hardware brands poses a fundamental challenge for Apple, as the loyalty to hardware may decline if AI assistants can operate seamlessly across devices [12].