国防军工、芯片、通信设备、工业金属等板块涨幅居前。 受此影响，昨日欧洲军工股普遍收涨，空客涨2.88%，Kongsberg Gruppen涨2.11%，达索系统则跌 2.43%。德国上市的WisdomTree Europe Defence UCITS ETF（EUDF.GY）收涨1.41%。 芯片行业景气度持续攀升 芯片概念股早间集体走强，板块指数创历史新高。光库科技(300620)以20%涨停价开盘，连续第2日封 板，股价创历史新高，中船特气高开仅约3分钟也20cm涨停，罗博特科、凯美特气、飞龙股份等近20股 亦涨停或涨超10%。 盘面上，国防军工、芯片、通信设备、工业金属等板块涨幅居前，休闲食品、养殖业、服装家纺、酿酒 等板块跌幅居前。 地面兵装板块2个月急拉1倍 国防军工股早间再次强势上攻，地面兵装方向领涨，板块指数放量飙升逾6%，再创历史新高，近2个月 来，该指数急速上涨超1倍。龙头股长城军工再封涨停，连续13个交易日上涨，其中7日涨停，2个月大 涨逾425%；内蒙一机、北方长龙等涨幅居前。 军民概念、军工信息化、军民融合、航天装备等板块跟随上扬，烽火电子、中电鑫龙、淳中科技、航天 科技等纷纷强势涨停 ...

Core Viewpoint - Micron Technology announced the cessation of future mobile NAND product development due to ongoing weak financial performance in the mobile NAND market, while continuing to support other NAND solutions and mobile DRAM products [2][3] Group 1: Company Actions - Micron will stop the development of mobile NAND products globally, including the termination of UFS5 development [2] - The company will continue to develop and support other NAND solutions such as SSDs and NAND for automotive and other end markets [2] - Micron's forecast for quarterly revenue has been adjusted to $11.2 billion, with a fluctuation of $100 million, up from a previous forecast of $10.7 billion with a fluctuation of $300 million [2] Group 2: Financial Performance - Micron raised its adjusted gross margin expectation for the fourth quarter to 44.5%, with a fluctuation of 0.5%, compared to a previous expectation of 42% with a fluctuation of 1% [2] - The revised forecast reflects improved pricing, particularly for DRAM products, indicating a strong pricing trend across various end markets [3] Group 3: Market Dynamics - The demand for high-bandwidth memory (HBM) chips has surged due to increased investments in AI data centers by major tech companies, allowing Micron to set higher prices for its products [2][3] - Supply constraints in HBM production and strong AI demand have contributed to a shift in profit margins for memory chip manufacturers, moving away from historically thin margins [3]

Group 1 - The company primarily focuses on DRAM products used in automotive and industrial sectors [1] - In the automotive DRAM market, LPDDR4 remains the mainstream application [1] - The company plans to develop LPDDR5 products based on future plans [1]

Core Viewpoint - Dongxin Co., Ltd. has shown a significant stock price increase of 42.57% year-to-date, but faces serious operational challenges with consecutive net losses projected for 2023 and 2024, raising concerns about its financial health [1][3]. Financial Performance - The company reported a net profit decline starting in 2022, with a projected loss of 0.59 billion yuan in Q1 2025 [1]. - As of July 22, 2023, the company's A-share market capitalization stood at 15.7 billion yuan [1]. Inventory Issues - Dongxin's inventory balance reached 1.121 billion yuan at the end of 2024, accounting for 161.87% of operating costs and 34.16% of current assets [3]. - The company reported a decrease in inventory impairment provision by 33% year-on-year, raising concerns about the adequacy of provisions given the high inventory levels [3]. Gross Margin Fluctuations - The overall gross margin for 2024 was 13.99%, an increase of 2.42 percentage points year-on-year, but product-specific margins varied significantly [6]. - NAND and NOR product margins increased by 8.25 and 6.89 percentage points respectively, while DRAM margins decreased by 7.01 percentage points [6]. Accounts Receivable Concerns - Accounts receivable surged to 159 million yuan at the end of 2024, a year-on-year increase of 67.86%, significantly outpacing revenue growth of 20.8% [6]. - The company reported a 121.59% increase in accounts receivable from direct sales customers, with only a slight increase in bad debt provisions, raising questions about credit policies [6]. Transparency of Overseas Assets - The company has overseas assets valued at 552 million yuan, constituting 15.64% of total assets, but lacks detailed disclosure on their distribution and usage [7]. - There are discrepancies noted by auditors regarding export revenue and VAT declarations, indicating potential risks in revenue recognition [7].

Group 1: Robotics Industry - Zhiyuan Robotics and Yushu Technology won a humanoid robot procurement order worth 120 million yuan from China Mobile's subsidiary [1] - The order is the largest publicly disclosed humanoid robot order in China, with Zhiyuan winning the full-size robot package and Yushu winning the small-size robot package [1] Group 2: E-commerce and Delivery Services - Morgan Stanley downgraded Alibaba's target price from $180 to $150, citing significant investments in food delivery and flash purchase businesses that may pressure short-term profitability [2] - The competitive landscape in the instant retail sector is intensifying, particularly in the food delivery segment, with ongoing subsidy wars among Alibaba, Meituan, and JD [2] Group 3: Food and Beverage Sector - Meituan's "0 Yuan Purchase" strategy led to overwhelming demand at a local milk tea shop, causing it to close early due to excessive orders [3] - The competitive strategies among platforms are diversifying, with Meituan focusing on promotional channels while others like Taobao and JD adopt different approaches [3] Group 4: Technology and Materials - Zhiyuan Robotics acquired a controlling stake of at least 63.62% in the listed company Aowei New Materials, marking a significant capital operation [4] - Aowei New Materials has established production lines and cash flow in the environmental and composite materials sectors, which may synergize with Zhiyuan's operations [4] Group 5: Semiconductor Industry - Changxin Technology initiated its listing guidance with the support of China International Capital Corporation and CITIC Securities, aiming to enhance its market presence in the DRAM sector [5] - Changxin holds a 6% market share in the DRAM market, with expectations to grow to 7.5% by the fourth quarter of this year [5] Group 6: Display Technology - TCL Technology projected a net profit increase of over 80% for the first half of the year, driven by strong performance in its semiconductor display business [6] - The growth in profit is attributed to increased sales of large-size panels and stable prices, alongside contributions from the acquisition of LGD's Guangzhou LCD panel project [7] Group 7: AI and Video Technology - PixVerse, a subsidiary of Aishi Technology, launched a new multi-keyframe generation feature, allowing users to create coherent videos from multiple images [8] - This advancement in video generation technology signifies a shift from technical validation to industrial application, enhancing creators' control over video narratives [8]

除了新建晶圆厂外，美光公司还将扩建其位于弗吉尼亚州马纳萨斯的工厂。目前，该工厂生产用于汽 车、航空航天、国防和工业应用的内存芯片。升级后，该工厂将获得产能以及先进的封装能力，可在 美国组装HBM内存堆栈。不过，美光公司只有在其位于爱达荷州博伊西的晶圆厂提高DRAM晶圆产 量 后 ， 才 会 在 其 弗 吉 尼 亚 工 厂 增 加 HBM 产 能 。 尽 管 如 此 ， 预 计 美 光 公 司 将 在 美 国 生 产 HBM5 或 HBM6。 公众号记得加星标⭐️，第一时间看推送不会错过。 来源：内容编译自tomshardware。 美光公司本月宣布了新的美国扩张战略， 将投资计划扩大至 1.5 亿美元，计划在弗吉尼亚州建造一 座 HBM 封装工厂，并投资约 500 亿美元用于研发。美光公司本月透露，该公司多年来在美国的首 座新晶圆厂将于 2027 年下半年投入运营。 继2022年8月《芯片与科学法案》颁布后，美光科技公布了重大计划，将在爱达荷州和纽约州投资超 过1150亿美元建设新晶圆厂，目标是未来十年在美国生产40%的DRAM产品。根据新计划，美光科技 计划在美国政府的支持下，在未来20多年内投资2000亿 ...