ʻO nā uila uila, e ulu nei me ka wikiwiki i nā makahiki i hala aku nei, e kū paha i nā pilikia. ʻO Freescale, ke alakaʻi mākeke ākea ma nā semiconductors kaʻa, ulu wale ʻo 0.5% wale nō i ka hapahā ʻelua. ʻO ke kūleʻa o ka ʻoihana uila i lalo, hoʻoholo i ka ʻoihana uila honua āpau e noho i ke ao kau i uhi ʻia ma lalo.

ʻO ka nui o nā inikua semiconductor i loko o nā kaulahao lako uila o ka honua i noho kiʻekiʻe ma ka hapa mua. Wahi a iSuppli, ua piʻi aʻe nā inventories semiconductor i ka hapaha mua, ma ke ʻano maʻamau, he wā kūʻai lohi, i kahi kiʻekiʻe he $ 6 biliona, a ʻo nā lā o nā mea kūʻai mai i kahi papa inoa (DOI) ua aneane he 44 mau lā, a he ʻehā mau lā mai ka hopena o ka makahiki 2007. i ka hapaha ʻelua i hoʻololi maoli ʻole ʻia mai ka hapaha mua i ka wā i kūkulu ai nā mea hoʻolako i nā waihona no kahi hapa lua o ka makahiki ikaika. ʻOiai ke hopohopo nei nā koi kahe ma muli o ka ʻino o ka nohona waiwai.

Maikaʻi ka loaʻa kālā hapa mua no nā ʻoihana i helu ʻia

I ka hapa mua o kēia makahiki, ua hoʻopaʻa ʻia nā ʻoihana i ka ʻāpana uila uila A loaʻa ka loaʻa kālā o 25.976 biliona yuan, a 22.52% ma mua o ka manawa like o ka makahiki i hala, ma mua o ka ulu ulu kālā o nā mahele A āpau (29.82%) ; Loaʻa ka loaʻa kālā Net 1.539 biliona yuan, piʻi 44.78% makahiki i ka makahiki, ʻoi aku ka kiʻekiʻe ma mua o ka ulu ulu 19.68% o ka mākeke A-share. Eia nō naʻe, ke kāpae ʻole nei i ka ʻāpana hōʻike wai-aniani, ʻo ka loaʻa kālā o ka ʻenehana uila i ka hapa mua o ka makahiki he 888 miliona yuan wale nō, 18.83 pākēneka haʻahaʻa ma mua o ka loaʻa kālā o ka makahiki i hala o 1.094 biliona yuan.

ʻO ka hapalua o ka makahiki o ka hāʻule kālā net uila e ka nui o ka hapa nui o ka hāʻule kālā. I kēia makahiki, kū pinepine ka ʻoihana hana hale me nā kumu he nui e like me ka piʻi ʻana o nā kumukūʻai o nā mea waiwai a me nā kumuwaiwai, ke piʻi ʻana o nā kumukūʻai hana a me ka mahalo i ka RMB. He ʻano pale ʻole ia e hōʻole ana ka palena kālā loaʻa nui o nā ʻoihana uila. Eia hou, aia nā ʻoihana kūloko i ka waena a me ka haʻahaʻa o ka pyramid ʻenehana, a hilinaʻi wale i ka uku kumukūʻai hana e noho i kahi ma ka mākeke kūwaho; Ma lalo o ke kāʻei kua o ka uila uila ʻoihana e komo nei i ka wā oʻo, ʻoi aku ka ikaika o ka hoʻokūkū ʻoihana, ua hōʻike ke kumukūʻai o nā huahana uila i kahi emi nui, a ʻaʻohe kuleana o nā mea hana kūloko e ʻōlelo e pili ana i ke kumu kūʻai.

I kēia manawa, aia ka ʻoihana uila uila a Kina i ka manawa hoʻololi o ka hoʻomaikaʻi ʻenehana, a he makahiki paʻakikī ka makahiki macro o kēia makahiki no kā Kina ʻoihana uila. ʻO ke kūleʻa o ka honua, hoʻonui hou i ka noi a me ka piʻi ʻana o yuan i kaomi kaumaha i ka ʻoihana uila o ka ʻāina, ʻo ia ka 67% e pili ana i ka lawe aku. No ka hakakā ʻana i ka hoʻonui kālā, ua hoʻokūpaʻa ke aupuni i ke kulekele kālā e mālama i ka hoʻokele waiwai mai ka hoʻomehana ʻana a ʻokiʻoki i nā rebates ʻauhau no nā mea kūʻai aku Hoʻohui ʻia, ke piʻi mau nei nā kumukūʻai hana a me nā kumukūʻai hana, a ʻaʻole i pau ka piʻi ʻana o nā kumukūʻai o ka meaʻai, ʻaukake a me ka uila. ʻO nā ʻano āpau āpau ma luna e hoʻolilo i ka loaʻa kālā o nā ʻoihana uila kūloko i kaomi koʻikoʻi.

ʻAʻole maikaʻi ka loiloi papa

ʻO ka pae loiloi P / E āpau o ka ʻāpana uila uila ʻoi aku ka kiʻekiʻe ma mua o ka pae maʻamau o ka mākeke A-share. Wahi a ke kālailai o ka ʻikepili mai Kina Daily i 2008, ʻo ka lakio uku pālua o A market market i ka makahiki 2008 he 13.1 mau manawa, ʻoiai he 18.82 mau manawa ka papa hana uila, ʻo ia hoʻi 50% ʻoi aku ka kiʻekiʻe ma mua o ka pae mākeke holoʻokoʻa. Hōʻike kēia i ka ʻoihana uila i helu ʻia nā loaʻa kālā o nā ʻoihana i manaʻo ʻia e hōʻole, e hana ana i ka loiloi holoʻokoʻa o ka pā i kahi pae i hoʻonui ʻia.

I ka wā lōʻihi, ke kumukūʻai waiwai kūʻai o nā mahele uila uila A e kaʻanalike ana i ka hoʻomaikaʻi ʻana i ke kūlana ʻoihana a me ka loaʻa pono e lawe ʻia e ka hoʻomaikaʻi ʻana o nā huahana a me nā ʻenehana. I ka wā pōkole, inā hiki i nā ʻoihana uila ke hoʻolilo i kahi loaʻa kālā, ʻo ke kī inā hiki ke ola hou ka mākeke hoʻolilo, a inā e hāʻule haʻahaʻa nā kumukūʻai o nā mea kūʻai a me nā mea maka ʻē aʻe i kahi pae kūpono. ʻO kā mākou manaʻo hoʻoholo e hoʻomau ka ʻoihana uila uila i kahi ebb haʻahaʻa a hiki i ka pau ʻana o ka pilikia subprime US, hoʻi hou ka US a me nā ʻoihana ʻē aʻe i hoʻomohala ʻia, a i ʻole nā ​​mea uila uila a i ʻole nā ​​ʻaoʻao Pūnaewele e hoʻokumu i ka noi no nā noi kaumaha hou. Ke hoʻomau nei mākou i ka mālama ʻana i kā mākou helu hoʻokele waiwai "kūlike ʻole" ma ka ʻāpana uila uila, no ka mea ʻaʻole hōʻike ʻia kahi ʻano o ka hoʻomohala kūwaho kūwaho i kēia manawa no ka hoʻomaikaʻi ʻana i ka hapaha ʻehā.

 

 


Ka manawa Post: Ian-18-2021