Steadright公司表示，摩现行的采矿和税收政策有利于吸引外资，TitanBeach钛铁矿的开发潜力巨大，建 成后有望推动摩成为全球钛金属产业链的重要参与者。目前，该公司已委托有关咨询公司开展矿产储 量、开采成本、运输及加工设施建设等项目可行性相关评估，若经济可行，其持有的勘探许可将转为开 采授权，并启动选矿、冶炼及下游产业链建设等。 据摩洛哥360信息网9月24日报道，摩洛哥钛资源主要分布在大西洋沿岸的黑沙中，长期以来开采利用程 度较低。近年来，随着全球高科技产业与国防工业对钛需求的快速增长，摩政府已将钛纳入国家矿业发 展计划，并积极吸引外资参与。 2025年6月，加拿大Steadright关键矿业公司与摩洛哥 NSM Capital（隶属于摩洛哥主权财富基金Ithmar Capital的直接投资平台，主要负责战略性矿产投资和资源开发合作）签署合作协议。根据协议， Steadright持有TitanBeach钛铁矿80%股份，负责勘探、开采及未来工业化有关设施建设。TitanBeach矿 位于塔尔法亚近海朱比角（Cape Juby）地区，总面积约160平方公里。矿样分析显示，该矿二氧化钛和 四氧化三铁的 ...

Group 1 - The 80th anniversary of the victory in the Chinese People's Anti-Japanese War and the World Anti-Fascist War will be commemorated on September 3 in Beijing, with a significant speech by President Xi Jinping [1][2][3] Group 2 - The U.S. government has been ruled to have acted unlawfully in imposing tariffs under the International Emergency Economic Powers Act, which poses a significant setback to Trump's aggressive trade policies [4][5][6] - The ruling maintains that tariffs are a core power of Congress, and the president does not have the authority to impose tariffs through executive orders without congressional approval [5][6] - The decision is set to take effect after October 14, allowing the Trump administration to appeal to the Supreme Court [6] Group 3 - U.S. Treasury and State Department officials have warned that the ruling could lead to "devastating" consequences for international trade negotiations and U.S. economic standing [7][8] - The ruling may also impact ongoing trade negotiations with various countries, as it raises questions about the legality of previously established trade agreements [8] Group 4 - Japan's manufacturing sector continues to shrink, with the August PMI at 49.7, indicating ongoing contraction due to declining overseas orders and investment cuts [11][12] - Japanese manufacturers' pre-tax profits fell by 11.5% year-on-year, primarily due to the impact of U.S. tariffs on the automotive sector [13] - Concerns are growing that the focus on a $550 billion investment mechanism in the U.S.-Japan trade agreement may lead Japanese companies to prioritize investments in the U.S. over domestic development [14] Group 5 - The U.S. has revoked the fast-track compliance status for South Korean chip manufacturers, which will require them to obtain licenses for certain U.S. chip manufacturing equipment exports to China [34][35] - This decision is part of the ongoing tech competition between the U.S. and China, despite a temporary easing of trade tensions [35] Group 6 - India's Prime Minister Modi's visit to Japan highlights the growing semiconductor cooperation between the two nations, aiming to reduce reliance on imports and enhance manufacturing capabilities [37][40] - The collaboration is expected to strengthen India's position in the global semiconductor supply chain while leveraging Japan's advanced technology [40] Group 7 - Tesla's sales in Europe have continued to decline, with significant drops in new car registrations reported in France, Sweden, and Denmark, attributed to increased competition and a lack of new models [60][61][66] - The brand's loyalty is reportedly declining due to CEO Elon Musk's political affiliations, which have alienated some consumers [67][69] - The used car market for Tesla vehicles has seen a surge in sales, negatively impacting new car sales and brand perception [71][70]

Core Viewpoint - The implementation of the "M&A Six Guidelines" has led to a significant increase in cross-industry mergers and acquisitions (M&A) among listed companies, with nearly 30 companies disclosing such plans in the past six months, particularly in the semiconductor sector [2][3]. Summary by Sections Implementation of "M&A Six Guidelines" - The "M&A Six Guidelines" have been in effect for six months, allowing for cross-industry mergers that align with commercial logic, which has garnered market attention [2]. - Approximately 30 listed companies have disclosed plans for cross-industry acquisitions, with a focus on the semiconductor industry [2]. Cross-Industry M&A Activity - Since the introduction of the new M&A policy on September 24, 2023, 16 cross-industry transactions have been disclosed, accounting for 60% of the total 25 planned for 2024 [3]. - The average stock price increase for these 16 companies post-announcement was 125.78% [3]. - The majority of these transactions involve companies in emerging sectors such as semiconductors, new energy, and artificial intelligence [3]. Challenges in Cross-Industry M&A - Despite the enthusiasm, six cross-industry M&A transactions have failed due to disagreements on core terms between parties [5][6]. - Notable failed transactions include Double成药业's attempt to acquire 奥拉股份 and 永安行's planned acquisition, both of which were halted due to valuation disagreements [6]. Market Observations - The difficulty in reaching consensus on core terms is common in M&A transactions, especially in cross-industry deals, which often face integration challenges post-acquisition [7]. - The trend of companies undergoing significant asset restructuring or changing their main business through cross-industry M&A has been linked to a high rate of eventual delisting [8][9]. Regulatory Perspective - A report indicates that 45% of companies that were delisted had previously engaged in cross-industry M&A, highlighting the risks associated with such strategies [8]. - The regulatory body emphasizes the need for stricter oversight of blind cross-industry M&A activities to mitigate speculative trading and ensure that companies pursue genuine strategic transformations [10].