世贸组织成立三十周年——维护多边贸易体制 推动共同发展繁荣 2025年是世界贸易组织成立30周年。30年来，世贸组织在推动全球贸易发展、促进经济增长、提升发展 中国家参与度等方面发挥了重要作用。当前，单边主义、保护主义与地缘冲突等多重挑战相互交织，将 全球贸易推向了深度重构的十字路口。国际社会应坚定维护以世贸组织为核心、以规则为基础的多边贸 易体制，推动建设开放型世界经济，为全球发展增添确定性与稳定性。 印加重启关键贸易协定谈判 当地时间23日，印度总理莫迪与加拿大总理卡尼共同宣布，双方同意重启此前陷入停滞的贸易协定谈 判。此举被视为两国关系回暖的最新信号。此前，由于锡克教领袖被暗杀导致外交争端，双方已暂停了 这项断断续续持续近15年的谈判。此外，卡尼已接受莫迪邀请，计划于2026年初访问印度。 据印度《经济时报》24日报道，莫迪与卡尼在南非举行的二十国集团（G20）领导人第二十次峰会期间 举行了双边会谈。印度总理办公室在23日发布的声明中表示："两国领导人同意就一项雄心勃勃的全面 经济伙伴关系协定展开谈判，目标是到2030年将双边贸易额提升至500亿美元，实现翻番。" 卡尼同日也在社交媒体上发文称："我与莫 ...

来源：环球网 【环球网科技综合报道】11月18日，据wccftech报道，三星移动部门（MX）与旗下LSI部门达成协议， 基础版Galaxy S26及S26 +将搭载自研Exynos 2600芯片，单价较高通骁龙8 Elite Gen 5低20-30美元，外媒 认为此举旨在强化与高通的谈判地位并提升移动业务利润率。 外媒报道称，该折扣适用于Exynos 2600初始供货量，后续单价将重新协商，但当前低价已能显著增厚 移动部门利润。芯片分配方面，Galaxy S26 Ultra将独家搭载高通旗舰芯片，美国等部分地区的其他S26 机型也会采用骁龙方案；而基础版S26、S26 +将优先在欧盟、韩国及发展中国家市场使用Exynos 2600。 技术层面，Exynos 2600采用三星2纳米GAA工艺，搭载热传导阻断技术（HPB），但行业对其良率存在 争议：ETNews称仍有残余良率问题限制量产，ZDNET则报道其良率稳定，能效与热控制提升30%，AI 性能因NPU强化而升级。值得注意的是，高通旗舰芯片因自研定制 CPU核心，过去几年性能表现普遍 优于三星Exynos系列。（旺旺） ...

Core Viewpoint - The global wafer foundry market is dominated by TSMC with a market share of 70.2%, while Samsung holds a distant second place with only 7.3% [2] Group 1: Market Dynamics - TSMC leads the global wafer foundry market with a significant gap over Samsung, which has a market share nearly ten times smaller [2] - Samsung's foundry business has been operating at a loss due to insufficient orders, with estimated quarterly losses ranging from 1 trillion to 2 trillion Korean Won since 2022 [4] Group 2: Samsung's Strategy - Samsung has set a clear two-year business plan aiming for profitability in its foundry operations by 2027 and to capture 20% of the market share [4] - Key to achieving this goal is improving the yield rate of its 2nm GAA process and establishing stable partnerships with high-value clients [4] Group 3: Potential Breakthroughs - A significant development occurred when Samsung secured a long-term order worth approximately $16.5 billion from Tesla for the production of next-generation AI6 chips, lasting until the end of 2033 [4] - The successful integration of the Exynos 2600 chip in the upcoming Galaxy S26 series and Qualcomm's potential return to Samsung for Snapdragon 8 series chips could lead to substantial improvements in Samsung's foundry business [4]

Group 1 - The global first 2nm mobile chip, Exynos 2600, will debut in Samsung's Galaxy S26 series, marking a significant advancement in mobile technology [2] - Samsung has decided to restart the S26+ model due to disappointing sales of the Galaxy S25 and iPhone Air, indicating a strategic shift in product offerings [2] - The new Galaxy S26+ features a minimalist design with dimensions of 158.4 x 75.7 x 7.35mm and a 4900mAh battery [2] Group 2 - A new compact short-pulse laser developed by a research team from the University of Stuttgart achieves an energy conversion efficiency of over 80%, opening new applications in medicine and quantum technology [2] - This breakthrough in laser technology could lead to the development of portable and cost-effective laser devices [2] Group 3 - Yushu Technology has received authorization for a patent on a robotic finger design that features a continuous gripping surface, enhancing its ability to grasp objects without gaps [2] - The design includes a linkage mechanism that allows for improved functionality in robotic applications [2] Group 4 - China's largest "artificial sun" project has made significant progress with the successful design review of key diagnostic systems for the ITER project, laying a solid foundation for future system manufacturing and delivery [2] - This advancement highlights China's commitment to nuclear fusion research and development [2]

Group 1 - The issuance scale of financial bonds by commercial banks reached 2.95 trillion yuan in 2025, a year-on-year increase of 14.79% [1] - The issuance of tier-2 capital bonds and perpetual bonds totaled approximately 1.38 trillion yuan, becoming the main types of bonds issued [1] - In October, the establishment scale of standard trust products increased by 12.86% month-on-month, despite a decrease in the number of products established [1] Group 2 - The storage industry is experiencing a "super cycle" driven by the rapid development of AI technology, with SanDisk raising flash memory contract prices by 50% [2] - The demand for high-end storage products is surging due to the requirements of AI servers and terminal products for storage speed, capacity, and power consumption [2] - In Q3 2025, China's tablet market shipped 8.49 million units, a year-on-year increase of 10.9%, with the consumer market growing by 12.3% [2] Group 3 - The Beidou system's large-scale applications are entering a critical stage of marketization, industrialization, and internationalization, with a focus on five key application areas [3] - The integration of Beidou technology with mobile communication, inertial navigation, and high-precision vision is being promoted to enhance its application in smart cities and other sectors [3] Group 4 - The Northeast region is preparing for a new wave of ice and snow tourism, leveraging its unique resources and diverse activities to attract more visitors [4] - The film market in 2025 has reached a total box office of 45.018 billion yuan, with expectations to surpass 50 billion yuan with upcoming major releases [4] Group 5 - China's offshore wind power capacity reached 44.61 million kilowatts in the first three quarters of 2025, maintaining its position as the world's largest [5] - Samsung is set to launch the Galaxy S26 series, featuring the world's first 2nm mobile chip, marking a significant advancement in the smartphone industry [5] Group 6 - Douyin has initiated a campaign to combat "false low prices" in the sale of Moutai, addressing consumer complaints about misleading marketing practices [5] - The Ministry of Industry and Information Technology has reported 39 apps, including Changba, for illegally collecting personal information [6] Group 7 - Xibei has closed nearly 10 stores across multiple locations since October, with the closures being part of a unified arrangement [6] - Shanghai Changtan Light Commercial Management Co., Ltd. was established with a registered capital of 2.4 billion yuan, focusing on various management services [7] Group 8 - Shenzhen Conostech completed approximately 200 million USD in C+ round financing, focusing on high-end surgical robots [8] - China Unicom's subsidiary, Zhinet Technology, has restarted its IPO process with guidance from China International Capital Corporation [8] Group 9 - Xinyang Technology announced plans for a share reduction of up to 3% by its shareholder, Spring Hong Investment [9] - Jiangnan Chemical successfully acquired 100% of Chongqing Shun'an Explosive Materials Co., Ltd., enhancing its market presence in Southwest China [10] Group 10 - Kelu Electronics reported an annual production capacity of approximately 10GWh at its Yichun energy storage base and is building a new facility in Indonesia [11] - Cambridge Technology exercised its over-allotment option, increasing its H-share issuance to 77.062 million shares [11] Group 11 - Ruima Precision announced the establishment of a wholly-owned subsidiary to meet its business development needs [12][13] Group 12 - The US stock market indices collectively rose, with the Dow Jones up 0.82%, S&P 500 up 1.54%, and Nasdaq up 2.27%, driven by strong performances in tech and AI stocks [14]

这一进展被视为三星扭转其代工业务困境的关键一步。作为该技术的首个应用，其Exynos 2600芯片的 早期内部测试结果显示出强大性能。此番动态也获得了同业的关注，SK海力士公司总裁Song Hyun-jong 认为，该技术将是一个"关键的转折点"。 在过去数年，三星的芯片代工业务市场份额远落后于台积电。若此次技术突破能成功转化为大规模、高 良率的生产，将显著增强三星在尖端芯片制造领域的竞争力，对投资者和整个半导体供应链产生深远影 响。 良率目标上调，提振市场信心 据媒体援引一位不具名的知情人士透露，随着2纳米芯片的全面量产临近，三星将其年底良率目标从 50%提升至70%。这一显著上调被市场解读为三星在按计划顺利实现其工艺良率和芯片性能目标。 该人士表示，三星高管在总统办公室会议上的表态，可以被理解为公司正平稳地达成其既定的2纳米工 艺良率和性能指标。 三星电子在先进制程竞赛中正迎头赶上，其关键的2纳米芯片技术据报取得积极进展。 据媒体21日报道，三星已将其2纳米GAA（全环绕栅极）工艺的年底良率目标从50%上调至70%。在一 次由韩国总统办公室政策负责人Kim Yong-beom主持的会议上，三星设备解决方案 ...

Core Insights - Taiwan's semiconductor manufacturing company, TSMC, is projected to increase its foundry market share to 38% by Q2 2025, up from 31% year-over-year, driven by a 19% increase in foundry revenue due to AI demand and Chinese subsidies [1] - Advanced packaging technology is becoming increasingly important, with TSMC expected to maintain its leadership in both advanced process nodes and advanced packaging in the foreseeable future [1][2] - The OSAT (Outsourced Semiconductor Assembly and Test) industry is experiencing a revenue growth rate acceleration from 5% to 11%, with companies like ASE and King Yuan benefiting significantly from AI GPU demand [2] Summary by Sections TSMC Market Share and Revenue Growth - TSMC's foundry market share is expected to rise to 38% by Q2 2025, compared to 31% in the same period last year [1] - The overall foundry revenue is anticipated to grow by 19% year-over-year, primarily due to the demand for advanced processes and packaging driven by AI and subsidies from China [1] - Counterpoint Research forecasts moderate single-digit growth in foundry revenue by Q3 2025 [1] Advanced Packaging and Technology Trends - Advanced packaging is becoming a crucial growth driver for chip manufacturers, with TSMC's strong technology and customer relationships positioning it well for future leadership [2] - The shift towards Foundry 2.0 indicates a transition from traditional foundry services to a more integrated technology platform, encompassing various semiconductor manufacturing processes [2] Application Processor (AP) Market Dynamics - TSMC is expected to dominate the application processor market with a projected 90% share in the 5nm or smaller process technology segment [3] - The demand for advanced semiconductor processes is increasing due to the growing need for performance and energy efficiency in high-end smartphones [4] - TSMC's market share in the sub-3nm AP manufacturing segment is projected to be around 87% this year, increasing to 89% by 2028 [4] Competitive Landscape - Samsung is working to improve its yield rates in the 3nm and below processes to catch up with TSMC, having recently stabilized its 3nm process [5] - Despite Samsung's efforts, TSMC continues to lead in advanced process technology, with significant market share in AP manufacturing for major clients like Apple and Qualcomm [4][5]

Core Viewpoint - ASML emphasizes the importance of High NA EUV technology for the future of semiconductor manufacturing, with significant advancements already being reported by major clients like Intel and Samsung [1][2]. Group 1: ASML and High NA EUV Technology - ASML confirmed revenue from a High NA EUV machine, which slightly lowered its gross margin but still achieved a strong overall gross margin of 53.7% [1]. - Intel reported using High NA equipment to expose over 30,000 wafers in a single quarter, significantly improving process efficiency by reducing the number of steps from 40 to below 10 [1]. - Samsung noted a 60% reduction in cycle time for a specific layer using High NA technology, indicating its faster maturity compared to earlier low NA EUV devices [1]. Group 2: Samsung's Strategy - Samsung is aggressively purchasing next-generation lithography machines to enhance its wafer foundry business, aiming to improve yield and reduce losses [2][4]. - The company has confirmed that its Exynos 2600 will be the first 2nm GAA chip, with High NA EUV machines expected to play a crucial role in achieving the necessary yield for mass production [2][4]. Group 3: SK Hynix's Developments - SK Hynix has assembled the industry's first Twinscan NXE:5200B High NA EUV lithography system, which will initially serve as a development platform for next-generation DRAM production [7][9]. - This new system is expected to enhance productivity and product performance by allowing for more complex patterns on wafers, thus increasing chip density and efficiency [7][9]. Group 4: Industry Adoption and Future Outlook - ASML anticipates that widespread adoption of High NA EUV technology in mass production will not begin until after 2027 [4][10]. - TSMC has stated that its next-generation processes do not require High NA EUV systems, indicating a cautious approach to adopting this technology [11]. - Micron is also taking a conservative stance, planning to introduce EUV lithography in DRAM production by 2025, with High NA EUV adoption remaining uncertain [12]. Group 5: Cost and Technological Considerations - The high cost of High NA EUV machines, estimated at $400 million each, is a significant barrier to adoption, leading companies to explore alternative technologies [14][15]. - Emerging transistor architectures like GAAFET and CFET may reduce reliance on advanced lithography tools, shifting focus towards etching technologies [14][15].

Group 1: ASML and High NA EUV Technology - ASML views High NA EUV as a critical future technology, confirming revenue from a high numerical aperture EUV system despite a slight decrease in gross margin, maintaining a strong overall gross margin of 53.7% [1] - Intel reported using High NA equipment to expose over 30,000 wafers in a single quarter, significantly improving process flow by reducing the number of steps from 40 to below 10 [1] - Samsung noted a 60% reduction in cycle time for a specific layer using High NA technology, indicating its maturity compared to earlier low numerical aperture EUV systems [1] Group 2: Samsung's Investment in Next-Generation Lithography - Samsung has increased its procurement of next-generation lithography machines from ASML to enhance its competitive position in the semiconductor market, particularly in the 2nm GAA process [2] - The Exynos 2600 is confirmed as Samsung's first 2nm GAA chip, which has begun mass production, aiming to improve yield rates and reduce losses [2][3] - Samsung's procurement of High NA EUV lithography machines is expected to help achieve a yield rate of at least 70%, necessary for financial viability in mass production [3] Group 3: SK Hynix's Adoption of High NA EUV - SK Hynix has assembled the industry's first Twinscan NXE:5200B high numerical aperture EUV lithography system, which will initially serve as a development platform for next-generation DRAM technology [6] - This new system is expected to enhance productivity and product performance, allowing for more complex patterns and increased chip density on wafers [6][8] - SK Hynix aims to accelerate the development of next-generation memory products and strengthen its position in the high-value memory market through this advanced technology [6][8] Group 4: Industry Perspectives on High NA EUV - TSMC has stated that its next-generation processes, including A16 and A14, do not require High NA EUV systems, focusing instead on extending the life of existing EUV technologies [11][12] - Micron is cautious about adopting EUV lithography, planning to introduce EUV into DRAM production by 2025, with High NA EUV adoption remaining uncertain [12] - The Japanese company Rapidus plans to install multiple EUV lithography systems in its new fab, indicating potential future interest in High NA EUV technology [13] Group 5: Challenges and Future Directions - The high cost of High NA EUV machines, priced at around $400 million, has led to hesitance among manufacturers to adopt this technology [14] - Emerging transistor architectures like GAAFET and CFET may reduce reliance on advanced lithography tools, shifting focus towards etching technologies [14][15] - The semiconductor industry is expected to transition to High NA EUV lithography by the 2030s, with ongoing developments in process technologies [8][14]

Group 1: OpenAI and Anthropic Developments - OpenAI is investigating issues with ChatGPT not displaying responses, with over 1000 user reports since 7 AM UK time [1] - Anthropic has completed a $13 billion Series F funding round, raising its valuation to $183 billion, tripling its earlier valuation this year [1] Group 2: Disney and Google Legal Issues - Disney has agreed to pay a $10 million fine for illegally collecting children's data on YouTube without parental consent [2] - A jury has ruled that Google violated the privacy rights of nearly 100 million users by misleading them about data tracking settings [2] Group 3: Apple Talent and Product Developments - Apple has experienced a talent drain in its AI division, with key personnel leaving for Meta, including the head of its AI robotics research [3] - Apple is expected to launch its first foldable iPhone in 2026, with projected shipments of 8-10 million units in the first year [4] - Apple plans to release Vision Air in 2027, which is expected to weigh 40% less and cost over 50% less than the current Vision Pro, with anticipated shipments reaching one million units [6] Group 4: Samsung and Chip Technology - Samsung is set to mass-produce the world's first 2nm mobile SoC chip, Exynos 2600, which has completed development [7] Group 5: ByteDance and Employee Incentives - ByteDance is implementing an option grant plan for its Seed department, primarily for AI model-focused technical staff, with total options potentially reaching millions [8] Group 6: Ctrip and Work Flexibility - Ctrip has announced that all product and research employees can work from home without prior approval, aiming to enhance work-life balance and foster a culture of trust [9] Group 7: Xiaomi and Traffic Technology - Xiaomi has published a patent for a vehicle inspection method aimed at improving traffic efficiency and reducing congestion [9] Group 8: Xiaohongshu Legal Issues - Xiaohongshu's operator is being sued by a company under TVB for infringing on network dissemination rights, with a court date set for October 2025 [10]