这3人中，有2名是台积电现役工程师，1名是前员工。而这些人的"下家"竟然指向了日本企业——东京威力科创（TEL）和Rapidus。这两家公司，一个是 全球顶尖的半导体设备制造商，一个是日本政府力推的"半导体复兴希望"，怎么看都不像无辜的路人。 最近，台积电这个全球芯片代工的"龙头企业"，爆出2纳米制程技术的商业机密疑似被窃取的大新闻。一开始，舆论的风向直指中国大陆，毕竟在现今这 个国际情势里，中国大陆似乎总是背锅的最佳人选。然而，剧情的反转来得却比想象中更快——台湾检方调查后发现，嫌疑人竟然与日本企业有关！ 这下好了，挤对了半天大陆，结果台积电的机密可能是日本偷的？！ 台积电：这就是背叛的滋味？ 要说台积电，那可是半导体行业的"一哥"。作为全球最大的芯片代工厂，台积电的市场占有率高达67.6%，客户名单里全是苹果、英伟达、AMD这样的科 技巨头。它的2纳米制程技术更是走在业界前沿。这种技术不仅号称能让芯片性能提升10%～15%，还能把功耗降低25以上，直接决定了智能手机、AI芯 片的未来竞争力。 台积电计划在今年下半年开始量产2纳米芯片，苹果的iPhone 18系列便传出消息早早预定了A20芯片的位置，正流着 ...

Group 1 - Nike filed a lawsuit against Edison Chen for breach of contract, claiming that his company, Juice Los Angeles LLC, owes $126,000 (approximately 900,000 RMB) for goods provided by Nike [6] - Chen was a personal guarantor for Juice's account with Nike, which led to his inclusion in the lawsuit [6] - Chen's collaboration with Nike ended in October 2023, after which he became a creative partner with Adidas [6] Group 2 - China Evergrande Group announced its delisting from the Hong Kong Stock Exchange, effective August 25, 2025, due to failure to meet the exchange's resumption requirements [7][8] - The last trading day for Evergrande shares will be August 22, 2025, and the company has no intention to appeal the delisting decision [7] Group 3 - Mercedes-Benz CEO warned that the European automotive industry could face collapse if the EU insists on banning new fuel vehicles by 2035, emphasizing the need for a balanced approach to decarbonization [8] - The company had previously planned to transition fully to electric vehicles by the end of the century but has now reversed this stance [8] Group 4 - Tencent reported a revenue of 184.5 billion RMB for Q2 2025, marking a 15% year-on-year increase, with significant growth in value-added services and marketing services [25] - The company also increased its R&D investment by 17% to 20.25 billion RMB, reflecting its commitment to AI strategy [25] Group 5 - Xiaomi appointed several executives to strengthen its presence in the African market, with plans to increase investment in the region [13] - The company has already established operations in 16 African countries, including Egypt and South Africa [13] Group 6 - Didi invested in the autonomous vehicle company New Stone, expanding its logistics delivery capabilities [13] - New Stone has deployed over 7,500 autonomous vehicles across more than 280 cities [13] Group 7 - Gree Electric's public account underwent a name change, indicating a potential shift in branding strategy [12] - The company continues to adapt its marketing and product strategies in response to market dynamics [12]

Group 1 - Chipone Technology plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [1] - Wolong Electric submitted a listing application to the Hong Kong Stock Exchange with joint sponsors including CICC, Huatai International, and GF Securities [2] Group 2 - Nike filed a lawsuit against Edison Chen for breach of contract, claiming $126,000 in unpaid goods [3] - China Evergrande's listing status will be canceled on August 25 due to failure to meet the Hong Kong Stock Exchange's requirements [4] Group 3 - Mercedes-Benz CEO warned that the European automotive industry could face collapse without fuel vehicles [4] - Multiple video platforms have limitations on ad-free experiences for members, with some ads still appearing even for paid subscriptions [5] Group 4 - Li Auto aims to deliver over 8,000 units of the Li i8 by the end of September, with a challenge to reach 10,000 units [6] - Xiaomi appointed several executives for its African market to increase investment and operations [9] Group 5 - Tencent reported Q2 2025 revenue of 184.5 billion yuan, a 15% year-on-year increase, with significant growth in various service segments [20] - Youyan Silicon reported a net profit of 106 million yuan for the first half of 2025, a decline of 18.74% year-on-year [21] - Baolidi achieved a net profit of 63.8 million yuan in the first half of 2025, a 15.19% increase year-on-year [22] - Hatou Co. reported a net profit of 380 million yuan for the first half of 2025, a 233.08% increase year-on-year [23]

Core Viewpoint - Apple's upcoming M5 chip for high-end MacBook Pro will feature a new Liquid Molded Plastic (LMC) supplied exclusively by Taiwan's Changxin Materials, which is expected to enhance performance and efficiency in the coming years [2][3]. Group 1: Chip Technology and Performance - The M5 chip will not fully utilize CoWoS technology initially, but the adoption of compatible materials is a strategic move for future iterations [3]. - LMC will provide advantages such as structural integrity, better heat dissipation, and higher manufacturing efficiency, contributing to stable performance and increased efficiency [3]. - Future M6 or M7 chips may fully adopt CoWoS or even CoPoS packaging technologies, allowing for larger and more complex processors capable of handling demanding workloads [3][4]. Group 2: Supply Chain and Procurement Strategy - Changxin Materials has outperformed Japanese suppliers Namics and Nagase to secure the contract, indicating a shift in Apple's procurement strategy towards greater reliance on Taiwanese suppliers [3]. - This change grants Apple more flexibility in control and R&D collaboration within advanced chip materials [3]. Group 3: Future Developments and Cost Considerations - Apple is exploring other packaging technologies to enhance chip performance and reduce costs, with the A20 series chips expected to transition from InFO to multi-chip module packaging (WMCM) by 2026 [6][7]. - WMCM will utilize Molding Underfill (MUF) technology, which integrates bottom filling and molding processes to reduce material consumption and improve yield and efficiency [7]. - Apple is also considering System on Integrated Chips (SoIC) technology for the M5 series, allowing for high-density connections between stacked chips to reduce latency and enhance performance [8].

Group 1: TSMC's 2nm Process Leak Incident - TSMC announced a leak of confidential information related to its 2nm chip process, resulting in the dismissal of involved employees and the initiation of legal proceedings [2] - TSMC's 2nm process is expected to enter mass production in the second half of this year, with the A20 chip for the iPhone 18 series being one of its first applications [2] - TSMC's 2nm process has achieved a yield rate exceeding 80%, which is sufficient for mass production and revenue generation [2][3] Group 2: Competitive Landscape - TSMC holds a significant market share of approximately 67.6%, while Samsung has about 7.7%, highlighting the competitive gap [3] - Samsung plans to start mass production of its 2nm process in the first half of 2026, despite initial yield rates being lower than TSMC's [3][5] - Intel aims to disrupt the market with its 18A process, which is equivalent to 1.8nm, but faces challenges with yield rates and production timelines [6][7] Group 3: Market Outlook and Applications - The global market for 2nm and similar processes is projected to exceed $50 billion by 2025, with an annual growth rate of over 20% [5] - The introduction of 2nm technology is expected to benefit downstream applications, particularly in consumer electronics, AI, and IoT [8][9] - Companies like Apple and NVIDIA are anticipated to leverage 2nm chips for enhanced performance in their next-generation products [8][9]

Core Viewpoint - Apple is expected to launch its first foldable iPhone next year, potentially generating up to $65 billion in sales revenue [1][3]. Group 1: Product Launch and Market Impact - The first foldable iPhone is anticipated to be part of the iPhone 18 series, set to be released in September 2026, with a price point of $1,999 [1]. - Analysts suggest that the design of Apple's foldable phone may resemble Samsung's Galaxy Z Fold series, indicating a shift in Apple's product strategy [2]. - The introduction of the foldable iPhone is seen as a significant design change since the original iPhone was launched in 2007, marking a potential revitalization of consumer interest [2]. Group 2: Market Dynamics and Competitive Landscape - The foldable phone market is expected to grow significantly, although it will remain a niche segment within the high-end smartphone market [3]. - Apple's stock has seen a decline of over 15% this year, attributed to various risk factors, including trade tensions under the Trump administration [3]. - The competitive landscape is intensifying, with Samsung planning to release three foldable phones by the end of this year, highlighting the urgency for Apple to innovate [1][2]. Group 3: Design and Innovation Challenges - The upcoming iPhone 17 series is expected to have limited upgrades, leading investors to focus on the next year's product launches [2]. - Apple's historical success in mainstreaming product categories like smartwatches and tablets suggests that the company could similarly influence the foldable phone market [3]. - The departure of former chief designer Jony Ive to join OpenAI for a project aimed at creating a device to rival the iPhone adds another layer of competitive pressure [4].

Core Viewpoint - Morgan Stanley predicts that Apple is expected to launch its first foldable iPhone in September 2026, which will be part of the iPhone 18 series [1] Group 1 - The anticipated foldable iPhone is expected to be a significant addition to Apple's product lineup [1]

Key Points - Li Xiang, founder of Li Auto, acknowledged his temper during a recent interview, stating that his outburst was due to someone falsifying information [4] - NIO's CEO Li Bin discussed the significant price increase for their ET9 model, which now sells for 80.8 million to 81.8 million RMB, highlighting the evolution of consumer acceptance of high-end Chinese brands [6] - The CTO of Zhenghao, Chen Xi, has left the company and may pursue entrepreneurship [6] - Honor's IPO progress is on track, with the company currently in the second phase of its six-phase process [8] - Xiaomi's Lei Jun suggested that consumers consider other domestic electric vehicles like the Xiaopeng G7 and Li Auto's Model Y if they are in urgent need of a car [9] - Baidu's Hubei distributor has entered bankruptcy due to changes in the channel model, losing its revenue source [11] - Taobao Flash Sale announced a 50 billion RMB subsidy to reshape consumer habits and support merchants [12] - BYD's factory in Brazil has commenced production, with a planned capacity of 150,000 vehicles [16] - Bilibili's former game cooperation department head has been arrested for serious misconduct [17] - Neta Auto's parent company is undergoing bankruptcy restructuring, with a 20 billion RMB equity freeze [18] - Baidu announced its largest search engine overhaul in a decade, allowing for over 1,000 characters in search queries [19] - Zhihui AI received a 1 billion RMB strategic investment and launched a new visual language model [20] - Jeff Bezos sold 3.3 million shares of Amazon, cashing out approximately 736.7 million USD [31] - Apple's foldable iPhone has entered the prototype stage, while the foldable iPad development has been shelved [32]

Group 1 - Morgan Stanley maintains an "overweight" rating on Apple (AAPL.US) but lowers the target price from $240 to $230 due to slowing mid-term revenue and profit growth, as well as adverse macroeconomic factors [1] - Analyst Samik Chatterjee indicates that updated revenue and profit forecasts reflect the impact of early consumer demand release for iPhones, leading to weakened demand drivers in the second half of the year, particularly with minor upgrades expected for the iPhone 17 series [1] - The analysis highlights a pessimistic outlook for iPhone 17 series sales, contrasting with a more optimistic view for the iPhone 18 cycle, which is expected to introduce foldable phones and advancements in anticipated AI features [1] Group 2 - The adjustment implies a modest single-digit percentage growth expectation for Apple's revenue in the fiscal year 2026, with stronger growth anticipated in fiscal year 2027, providing a basis for investment logic for those interested in AI edge feature adoption [2] - Analysts expect Apple's quicker transition of iPhone assembly supply chains to India to alleviate initial investor concerns regarding margin pressure, although tariff pressures may lead to price increases, limiting sales growth momentum for the upcoming iPhone 17 series [2] - In addition to lowering profit forecasts, analysts slightly adjust valuation multiples to reflect potential downside risks to mid-term profit expectations, while noting strong recent demand drivers, partly due to smartphone subsidies in China, which may result in robust financial results for Apple in Q3 of fiscal year 2025 [2]

Group 1 - The new iPhone models expected to launch in 2026 will feature under-display Face ID technology, primarily in the iPhone 18 Pro and iPhone 18 Pro Max [1] - Despite the introduction of under-display Face ID, some visible elements of Face ID will remain, indicating that the Dynamic Island will not be completely eliminated but will be reduced in size compared to previous models [4] - Multiple sources, including Bloomberg's Mark Gurman, suggest that the iPhone 18 series will have a smaller version of the Dynamic Island rather than just a front camera hole [4] Group 2 - The complete transition of all Face ID components to under the display is projected to be achieved by 2028 [4]