亚洲股市异动：欣兴电子遭搜查跌停，长鑫存储业绩亮眼股价持平，MiniMax大涨
Unimicron Dives, CXMT Swings, Minimax Jumps | Stock Movers
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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Let's take a look at some stocks on the move today in Asia. I'm Steven Carroll and I'm joined now by Bloomberg's markets reporter, Anthony Stevens. Anthony, let's start with Uni Micron shares dropping sharply. What's going on? Yeah, Unimicro has been one of the winners of this year. It makes substrates.
股票动态报告，为您汇总股市中活跃的公司动态，利用彭博数据的力量。让我们看看今天亚洲市场上一些有波动的股票。我是史蒂文·卡罗尔，现在有请彭博市场记者安东尼·史蒂文斯。安东尼，我们先从Uni Micron股价大幅下跌说起。发生了什么？是的，Unimicro是今年的大赢家之一。它生产基板。
Uh this is a kind of a plastic uh to put it simply that's used to be the kind of foundation of chips. Uh that's become much more important these days as you need a lot more connectivity to connect these AI chips and memory together. And it's been on an absolute tear. But now they're being accused or rather being raided by Taiwanese uh prosecutors and accused of um mislabeling their substrates as made in Taiwan when they were in fact made in China.
嗯，简单来说，这是一种塑料，用作芯片的基础材料。如今这变得更为重要，因为需要更多的连接来将AI芯片和内存连接在一起。它一直表现强劲。但现在他们被台湾检察官指控，或者说被突击搜查，被指控将其基板错误标注为台湾制造，而实际上是中国制造。
So it'll be interesting to see what details come out of this and how the company responds. The company is saying at the beginning that it's not its output is not going to be impacted. But obviously any further penalties or sanctions placed on the company by either Taiwanese or US regulators will be in focus. Investors are not sticking around to find out. The stock is limit down. There's 90 million shares on the offer and nothing on the bid down 10.
所以，看看会有什么细节浮出水面以及公司如何回应，将会很有趣。公司一开始表示其产出不会受到影响。但显然，台湾或美国监管机构对公司施加的任何进一步处罚或制裁都将成为焦点。投资者没有留下来观望。股票跌停。卖盘有9000万股，买盘为零，下跌10%。
Wow. Memory makers under pressure though today as well despite the very strong results from CXMT. Is this a market pricing in a race to over capacity?
哇。尽管CXMT业绩非常强劲，但今天内存制造商也面临压力。这是市场在定价产能过剩的竞赛吗？
This continues a kind of a strange theme with Asian memory makers. So bear in mind Samsung and Heinix also beat on earnings and they saw their stock prices fall uh shortly afterwards, you know, and that is kind of in line with what Nvidia did. It had a big pop. Now it's retraced half. So there seems to be this pattern in markets where it takes a lot to impress. Uh and in CXM's case, they actually already gave you a lot.
这延续了亚洲内存制造商的一个奇怪主题。请记住，三星和海力士也超出了盈利预期，但随后不久股价下跌，你知道，这与英伟达的表现一致。它曾大幅上涨，现在已回吐了一半。所以市场似乎存在这种模式，即要给人留下深刻印象需要付出很多。而在CXM的案例中，他们实际上已经给出了很多。
They had almost 10x increase uh in sales. Net profit beat uh their own preipo estimate by 36%. Uh and they blew the doors down that preipo estimate on sales as well. We see the street marginally positive at the board. Like there is nobody that's actually a sell on this stock in the first place. But Goldman is very positive and says that in the long run uh these results will shine through. Uh similarly, local brokers are saying pretty similar.
他们的销售额增长了近10倍。净利润超出了他们自己的IPO前预估36%。而且他们在销售额上也大幅超过了IPO前预估。我们看到市场在董事会层面略微积极。就像一开始就没有人真正卖出这只股票。但高盛非常乐观，并表示从长远来看，这些结果将会显现。同样，本地券商也表达了类似观点。
Uh and Morgan Stanley has been quick to reiterate their buy as well. So everybody that's actually reported on this result has been positive. Uh on the other side, why is the stock flat? Because everyone is long. Uh this is a very common uh dynamic in new listings in China where retail is extremely long. In this particular case, bear in mind retail is up almost 500% from the listing price. So even into this great result, you're going to see some sellers on fact.
嗯，摩根士丹利也迅速重申了买入评级。所以实际上所有报告这一结果的人都持积极态度。嗯，另一方面，为什么股价持平？因为大家都做多。嗯，这是中国新股上市中非常常见的动态，散户极度做多。在这种特定情况下，请记住，散户从上市价已经上涨了近500%。所以即使面对这么好的业绩，你也会看到一些获利了结的卖家。
Okay, turning to Miniax next on a tear in Hong Kong. What's driving that?
好的，接下来看看在香港表现强劲的MiniMax。是什么推动了这一走势？
Minimax is one of those IPOs that's gone in a giant circle. So it used to be trade around this level uh into IPO and then it went to 1,200 Hong Kong dollars and then has crashed back down to the kind of 350 level it's trading at at the moment. But the current uh wave of optimism has come from their new model. Uh there are some demos online that show that this model is so fast it can turn a live stream chat into video instantaneously.
MiniMax是那种经历了巨大波动的IPO之一。所以它过去在IPO时交易在这个水平附近，然后涨到了1200港元，之后又暴跌回目前交易的大约350港元的水平。但当前这波乐观情绪来自他们的新模型。嗯，网上有一些演示显示，这个模型速度之快，可以将直播聊天即时转化为视频。
Uh that raises the prospect of a whole new bunch of verticals around online video. You know people basically being video hobbyists from chats or games or what have you. Also in China there's this barreling trend of super short AI generated video. It's taking over the Chinese internet and the Chinese media consumption landscape in a really big way because it's very costless at the margin. You just have to have a creative idea uh in a quick storyline and a really good AI generating model and you have a movie studio uh and you can get paid right uh and I think minax has been the center of that growth phase and is getting some publicity after results given that it now has put a cost to how much processing power this costs.
嗯，这引发了围绕在线视频的一整套新垂直领域的可能性。你知道，人们基本上可以从聊天、游戏或其他任何东西中成为视频爱好者。此外，在中国，还有一种势不可挡的超短AI生成视频趋势。它正在以非常大的方式占领中国互联网和中国媒体消费格局，因为边际成本非常低。你只需要有一个创意想法、一个快速的故事情节和一个非常好的AI生成模型，你就拥有了一家电影工作室，而且你可以直接获得报酬，对吧。我认为MiniMax一直是这一增长阶段的核心，在业绩公布后获得了一些关注，因为它现在为这需要多少处理能力设定了成本。
Uh so the miniax CEO has been talking about her cloud bills. She's put a number to those cloud bills and now people can do a revenue number versus those bills to arrive at potentially higher margins going forward. The stock movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live.
嗯，所以MiniMax的首席执行官一直在谈论她的云账单。她给这些云账单设定了一个数字，现在人们可以将收入数字与这些账单进行比较，以得出未来可能更高的利润率。这是来自彭博电台的股票异动报告。全天随时关注我们，获取华尔街最新公司新闻汇总。要获取最新的市场动态头条，请收听彭博电台直播。
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