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南山小鱼人
老虎证券首席交易员
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南山小鱼人
南山小鱼人
·
11-22
有人说是要把mstr给拉下水，不知真假
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南山小鱼人
南山小鱼人
·
11-22
牛
@火火兔爸：
$礼来(LLY)$ $Palantir Technologies Inc.(PLTR)$ $英伟达(NVDA)$ 感谢英伟达pltr和礼来共同促使我三年一个月达成五百倍收益
$礼来(LLY)$ $Palantir Technologies Inc.(PLTR)$ $英伟达(NVDA)$ 感谢英伟达pltr和礼来共同促使我三年一个月达成五百倍收益
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南山小鱼人
南山小鱼人
·
11-22
$BIDU 20251121 109.0 PUT$
今天是被达子治愈的一天
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南山小鱼人
南山小鱼人
·
11-19
太惨了，是大空头，我们没救了
'Big Short' Michael Burry Slams Baidu For $2.2 Billion Impairment In Q3 After 50% Of 2024 Net Income Gain Driven By 'Useful Life' Tweaks
Michael Burry slams Baidu: Flags 50% net income rise to accounting tweaks, not growth, despite a massive $2.2 billion asset impairment.
'Big Short' Michael Burry Slams Baidu For $2.2 Billion Impairment In Q3 After 50% Of 2024 Net Income Gain Driven By 'Useful Life' Tweaks
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南山小鱼人
南山小鱼人
·
11-18
也是失速了
拼多多三季度营收1082.8亿元，调整后净利润313.8亿元
去年同期993.54亿元。
拼多多三季度营收1082.8亿元，调整后净利润313.8亿元
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南山小鱼人
南山小鱼人
·
11-18
$百度集团-SW(09888)$
这是谁的部将，这么着急出售
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南山小鱼人
南山小鱼人
·
11-05
低估了CUDA的统治力
AMD营收大超预期但指引未能打动投资者，股价盘后震荡下挫
AMD周二盘后公布财报显示，该公司第三季度营收、资本开支均高于分析师预期，但四季度营收指引未能打动投资者，该公司股票周三盘后震荡下滑。营收指引未能打动投资者近期，华尔街愈发担心AI泡沫风险，而AMD的业绩表现正受到密切关注。AMD在周二发布的声明中表示，预计第四季度营收约为96亿美元。财报公布后，AMD股价在盘后交易中一度下跌超3%，跌幅随后有所收窄。
AMD营收大超预期但指引未能打动投资者，股价盘后震荡下挫
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南山小鱼人
南山小鱼人
·
10-18
逝者安息
著名物理学家、诺贝尔物理学奖得主杨振宁逝世
享誉世界的物理学家、诺贝尔物理学奖获得者，中国科学院院士，清华大学教授、清华大学高等研究院名誉院长杨振宁先生，因病于2025年10月18日在北京逝世，享年103岁。（新华社）
著名物理学家、诺贝尔物理学奖得主杨振宁逝世
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南山小鱼人
南山小鱼人
·
10-17
924新政牛市记录 • 9.18-19号fomc议息会议，鲍威尔讲话 下调50bp，美联储基准利率来到4.75-5.25区间。此时中概股稍有波动 • 9月24日上午，中国人民银行、金融监管总局、证监会联合出台一揽子金融政策。央行明确表示：“在今年年内还将视市场流动性的状况，可能择机进一步下调存款准备金率0.25-0.5个百分点。a股直接2700到3000点，此时中概股开始波动了。 • 9月25号 ，东风导弹发射 • 9月26日，中央政治局会议：1、要降低存款准备金率，实施有力度的降息。2、要促进房地产市场止跌回稳，对商品房建设要严控增量、优化存量、提高质量，加大“白名单”项目贷款投放力度，支持盘活存量闲置土地。3、要回应群众关切，调整住房限购政策，降低存量房贷利率，抓紧完善土地、财税、金融等政策，推动构建房地产发展新模式。 • 9.27日，央行公告，自2024年9月27日起，下调金融机构存款准备金率0.5个百分点（不含已执行5%存款准备金率的金融机构）。 • 10.4号 美非农数据报表，降息预期下调 • 10.4日 欧盟电动汽车关税 • 10.8日，国新办新闻发布会，内容不及预期 • 10.10号，央行创设 5000亿的SFISF，短暂波动 • 10.12号，彭博消息预测 政策不及预期，yang夜盘开始涨了 • 10.18号，央行互换便利，和 降准降息 第一阶段告一段落了
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南山小鱼人
南山小鱼人
·
10-12
$Summit State Bank(SSBI)$
有人关注它吗
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href=\"https://laohu8.com/S/LLY\">$礼来(LLY)$ </a> <a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$ </a> <a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a> 感谢英伟达pltr和礼来共同促使我三年一个月达成五百倍收益","listText":"<a href=\"https://laohu8.com/S/LLY\">$礼来(LLY)$ </a> <a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$ </a> <a href=\"https://laohu8.com/S/NVDA\">$英伟达(NVDA)$ </a> 感谢英伟达pltr和礼来共同促使我三年一个月达成五百倍收益","text":"$礼来(LLY)$ $Palantir Technologies Inc.(PLTR)$ $英伟达(NVDA)$ 感谢英伟达pltr和礼来共同促使我三年一个月达成五百倍收益","images":[{"img":"https://static.tigerbbs.com/ad0936828ff47f9ec7f671129f676c2d","width":"957","height":"216"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/502945250431784","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":66,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":502641395639040,"gmtCreate":1763743692484,"gmtModify":1763743694008,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/OPT/BIDU 20251121 109.0 PUT\">$BIDU 20251121 109.0 PUT$ </a> 今天是被达子治愈的一天","listText":"<a href=\"https://laohu8.com/OPT/BIDU 20251121 109.0 PUT\">$BIDU 20251121 109.0 PUT$ </a> 今天是被达子治愈的一天","text":"$BIDU 20251121 109.0 PUT$ 今天是被达子治愈的一天","images":[{"img":"https://static.tigerbbs.com/fe0de98338039029a25a44ee866f5491","width":"1080","height":"2344"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/502641395639040","isVote":1,"tweetType":1,"viewCount":7828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},{"id":501835085632304,"gmtCreate":1763537302143,"gmtModify":1763537304624,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"title":"","htmlText":"太惨了，是大空头，我们没救了","listText":"太惨了，是大空头，我们没救了","text":"太惨了，是大空头，我们没救了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/501835085632304","repostId":"2584185979","repostType":2,"repost":{"id":"2584185979","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1763535927,"share":"https://www.laohu8.com/m/news/2584185979?lang=&edition=full","pubTime":"2025-11-19 15:05","market":"us","language":"en","title":"'Big Short' Michael Burry Slams Baidu For $2.2 Billion Impairment In Q3 After 50% Of 2024 Net Income Gain Driven By 'Useful Life' Tweaks","url":"https://stock-news.laohu8.com/highlight/detail?id=2584185979","media":"Benzinga","summary":"Michael Burry slams Baidu: Flags 50% net income rise to accounting tweaks, not growth, despite a massive $2.2 billion asset impairment.","content":"<html><body><p><strong>Michael Burry</strong>, the investor famed for “The Big Short,” aimed at <strong><a href=\"https://laohu8.com/S/09888\">Baidu</a> Inc.</strong> (NASDAQ:BIDU) following its third-quarter 2025 earnings release, highlighting a pattern of accounting maneuvers that raises doubts about the company’s financial health.</p>\n<p><em>Check out BIDU’s stock price here.</em></p>\n<h2><strong>Baidu’s 2024 Accounting Changes Lead To Q3 Impairment?</strong></h2>\n<p>While Baidu management touted an “AI-native” transformation this week, Burry flagged that the company's profit growth in the previous year was driven by administrative estimates rather than operational success.</p>\n<p>Burry's critique centers on the contradiction between that 2024 “life extension” and the reality revealed in the current third-quarter 2025 report.</p>\n<p><em>Benzinga has reached out to Baidu for a comment.</em></p>\n<p>On Tuesday, Baidu announced a massive RMB 16.2 billion ($2.2 billion) impairment charge, effectively admitting that much of its existing infrastructure is now obsolete—less than a year after claiming those same assets would last longer.</p>\n<p>“Took a RMB 16.2 billion impairment on RMB 30.1B net PPE (over 50%),” Burry noted, emphasizing the disconnect. He pointed out the irony of Baidu extending the useful life of servers in 2021 and 2024 to smooth earnings, only to write off half the value of its property, plant, and equipment in 2025.</p>\n<p>In 2024, Baidu's net income rose over 50% largely due to a decision to extend the estimated “useful life” of its servers from five to six years. Burry highlights, this accounting tweak artificially lowered depreciation expenses and boosted the bottom line, creating the illusion of growth.</p>\n<figure><div>\n<blockquote><p dir=\"ltr\" lang=\"en\">\"But it's Baidu\"2021:Useful life 4->5 years for servers2024: Useful life 5->6 years for serversTook a RMB 16.2 billion impairment on RMB 30.1B net PPE. (over 50%)Had RMB 8-11 billion cap ex each of last 4 years, and Depreciation RMB 6.8 billion in 2024In 2024, net income… pic.twitter.com/VriykpzLV0</p>— Cassandra Unchained (@michaeljburry) November 19, 2025</blockquote>\n</div></figure>\n<p><strong>See Also: Baidu’s AI Cloud Takes Off, But Ad Slump Steals Spotlight</strong></p>\n<h2><strong>Management Says Q3 Impairment Is For New AI Infrastructure</strong></h2>\n<p>During the third-quarter earnings call, Baidu management defended the massive write-down as a necessary step for their AI pivot.</p>\n<p>“We are accelerating investments in the latest AI computing technologies without any hesitation,” said Baidu CFO <strong>Haijian He</strong>.</p>\n<p>“Some of the existing assets no longer meet today’s computing efficiency requirements. So we actually proactively did some impairments.”</p>\n<p>However, the core business numbers for the third quarter struggled to back up the bullish narrative. Total revenue dipped 7% year-over-year to $4.38 billion, and free cash flow turned negative as AI spending ramped up.</p>\n<p>While CEO <strong>Robin Li</strong> insisted that “AI is driving transformative value,” Burry's analysis suggests that Baidu’s earnings history is colored by shifting accounting goalposts, leaving investors to question the true useful life of the company's assets.</p>\n<h2><strong>Baidu Outperforms Nasdaq In 2025</strong></h2>\n<p>Shares of BIDU have risen 41.64% year-to-date, whereas the Nasdaq Composite and Nasdaq 100 indices have returned 16.35% and 16.82%, respectively.</p>\n<p>On Tuesday, the shares closed 2.66% higher at $117.14 apiece and dropped by 2.64% overnight. The stock has gained 36.18% over the year.</p>\n<p>BIDU maintains a weaker price trend over the short term but a strong trend in the medium and long terms, with a strong value ranking. Additional performance details, as per <strong>Benzinga’s Edge Stock Rankings</strong>, are available here.</p>\n<figure><img decoding=\"async\" height=\"154\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--1024x154.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE-.png 1146w\" width=\"1024\"/></figure>\n<p>The futures of the S&P 500, Nasdaq 100, and Dow Jones indices were trading lower on Wednesday, after closing lower for the second consecutive day on Tuesday.</p>\n<p><strong>Read Next:</strong></p>\n<ul>\n<li><strong>‘Big Short’ Michael Burry Reaffirms His Long MOH, Short PLTR Stance Days After De-Registering Fund: ‘Peanut Butter And Bananas’ Trade</strong></li>\n</ul>\n<p><strong><em>Disclaimer:</em></strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>\n<p><em>Photo courtesy: Tada Images on Shutterstock.com</em></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Big Short' Michael Burry Slams Baidu For $2.2 Billion Impairment In Q3 After 50% Of 2024 Net Income Gain Driven By 'Useful Life' Tweaks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Big Short' Michael Burry Slams Baidu For $2.2 Billion Impairment In Q3 After 50% Of 2024 Net Income Gain Driven By 'Useful Life' Tweaks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2025-11-19 15:05</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p><strong>Michael Burry</strong>, the investor famed for “The Big Short,” aimed at <strong><a href=\"https://laohu8.com/S/09888\">Baidu</a> Inc.</strong> (NASDAQ:BIDU) following its third-quarter 2025 earnings release, highlighting a pattern of accounting maneuvers that raises doubts about the company’s financial health.</p>\n<p><em>Check out BIDU’s stock price here.</em></p>\n<h2><strong>Baidu’s 2024 Accounting Changes Lead To Q3 Impairment?</strong></h2>\n<p>While Baidu management touted an “AI-native” transformation this week, Burry flagged that the company's profit growth in the previous year was driven by administrative estimates rather than operational success.</p>\n<p>Burry's critique centers on the contradiction between that 2024 “life extension” and the reality revealed in the current third-quarter 2025 report.</p>\n<p><em>Benzinga has reached out to Baidu for a comment.</em></p>\n<p>On Tuesday, Baidu announced a massive RMB 16.2 billion ($2.2 billion) impairment charge, effectively admitting that much of its existing infrastructure is now obsolete—less than a year after claiming those same assets would last longer.</p>\n<p>“Took a RMB 16.2 billion impairment on RMB 30.1B net PPE (over 50%),” Burry noted, emphasizing the disconnect. He pointed out the irony of Baidu extending the useful life of servers in 2021 and 2024 to smooth earnings, only to write off half the value of its property, plant, and equipment in 2025.</p>\n<p>In 2024, Baidu's net income rose over 50% largely due to a decision to extend the estimated “useful life” of its servers from five to six years. Burry highlights, this accounting tweak artificially lowered depreciation expenses and boosted the bottom line, creating the illusion of growth.</p>\n<figure><div>\n<blockquote><p dir=\"ltr\" lang=\"en\">\"But it's Baidu\"2021:Useful life 4->5 years for servers2024: Useful life 5->6 years for serversTook a RMB 16.2 billion impairment on RMB 30.1B net PPE. (over 50%)Had RMB 8-11 billion cap ex each of last 4 years, and Depreciation RMB 6.8 billion in 2024In 2024, net income… pic.twitter.com/VriykpzLV0</p>— Cassandra Unchained (@michaeljburry) November 19, 2025</blockquote>\n</div></figure>\n<p><strong>See Also: Baidu’s AI Cloud Takes Off, But Ad Slump Steals Spotlight</strong></p>\n<h2><strong>Management Says Q3 Impairment Is For New AI Infrastructure</strong></h2>\n<p>During the third-quarter earnings call, Baidu management defended the massive write-down as a necessary step for their AI pivot.</p>\n<p>“We are accelerating investments in the latest AI computing technologies without any hesitation,” said Baidu CFO <strong>Haijian He</strong>.</p>\n<p>“Some of the existing assets no longer meet today’s computing efficiency requirements. So we actually proactively did some impairments.”</p>\n<p>However, the core business numbers for the third quarter struggled to back up the bullish narrative. Total revenue dipped 7% year-over-year to $4.38 billion, and free cash flow turned negative as AI spending ramped up.</p>\n<p>While CEO <strong>Robin Li</strong> insisted that “AI is driving transformative value,” Burry's analysis suggests that Baidu’s earnings history is colored by shifting accounting goalposts, leaving investors to question the true useful life of the company's assets.</p>\n<h2><strong>Baidu Outperforms Nasdaq In 2025</strong></h2>\n<p>Shares of BIDU have risen 41.64% year-to-date, whereas the Nasdaq Composite and Nasdaq 100 indices have returned 16.35% and 16.82%, respectively.</p>\n<p>On Tuesday, the shares closed 2.66% higher at $117.14 apiece and dropped by 2.64% overnight. The stock has gained 36.18% over the year.</p>\n<p>BIDU maintains a weaker price trend over the short term but a strong trend in the medium and long terms, with a strong value ranking. Additional performance details, as per <strong>Benzinga’s Edge Stock Rankings</strong>, are available here.</p>\n<figure><img decoding=\"async\" height=\"154\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--1024x154.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--1024x154.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--300x45.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE--768x115.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/11/19003717/BIDU-EDGE-.png 1146w\" width=\"1024\"/></figure>\n<p>The futures of the S&P 500, Nasdaq 100, and Dow Jones indices were trading lower on Wednesday, after closing lower for the second consecutive day on Tuesday.</p>\n<p><strong>Read Next:</strong></p>\n<ul>\n<li><strong>‘Big Short’ Michael Burry Reaffirms His Long MOH, Short PLTR Stance Days After De-Registering Fund: ‘Peanut Butter And Bananas’ Trade</strong></li>\n</ul>\n<p><strong><em>Disclaimer:</em></strong><em> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>\n<p><em>Photo courtesy: Tada Images on Shutterstock.com</em></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"89888":"百度集团-SWR","BIDU":"百度","AI":"C3.ai, Inc.","SQQQ":"纳指三倍做空ETF","LU0173614495.USD":"富达中国焦点A","QID":"两倍做空纳斯达克指数ETF-ProShares","BK1609":"ChatGPT概念","TQQQ":"纳指三倍做多ETF","BK4535":"淡马锡持仓","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC",".IXIC":"NASDAQ Composite","BK4612":"AI芯片","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","BK4579":"人工智能","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","PSQ":"做空纳斯达克100指数ETF-ProShares","USJW.SI":"ALPHAB 3xLongSG261006","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","BK4551":"寇图资本持仓","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","LU0052750758.USD":"富兰克林中国基金A Acc","TSYW.SI":"TESLA 3xLongSG261006","BK1588":"回港中概股","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU0831093199.SGD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM3\" (SGDHDG) INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","LU0630378692.HKD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (HKD) INC","09888":"百度集团-SW","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK1615":"港股-互联网","LU0287142896.SGD":"Fidelity China Focus A-SGD","BK4543":"AI","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","QLD":"2倍做多纳斯达克100指数ETF-ProShares","SG9999002828.SGD":"Eastspring Investments Unit Trusts - Dragon Peacock A SGD","BK1587":"次新股","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","USAW.SI":"AMZN 3xLongSG261006","BK4514":"搜索引擎","NVIW.SI":"NVDA 3xLongSG261006","BK4602":"量子计算概念","LU0043850808.USD":"HSBC GIF ASIA EX JAPAN EQUITY \"AD\" INC","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","BK4528":"SaaS概念"},"source_url":"https://www.benzinga.com/markets/earnings/25/11/48942591/big-short-michael-burry-slams-baidu-for-2-2-billion-impairment-in-q3-after-50-of-2024-net-income-gain-driven-by-useful-life-tweaks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2584185979","content_text":"Michael Burry, the investor famed for “The Big Short,” aimed at Baidu Inc. (NASDAQ:BIDU) following its third-quarter 2025 earnings release, highlighting a pattern of accounting maneuvers that raises doubts about the company’s financial health.\nCheck out BIDU’s stock price here.\nBaidu’s 2024 Accounting Changes Lead To Q3 Impairment?\nWhile Baidu management touted an “AI-native” transformation this week, Burry flagged that the company's profit growth in the previous year was driven by administrative estimates rather than operational success.\nBurry's critique centers on the contradiction between that 2024 “life extension” and the reality revealed in the current third-quarter 2025 report.\nBenzinga has reached out to Baidu for a comment.\nOn Tuesday, Baidu announced a massive RMB 16.2 billion ($2.2 billion) impairment charge, effectively admitting that much of its existing infrastructure is now obsolete—less than a year after claiming those same assets would last longer.\n“Took a RMB 16.2 billion impairment on RMB 30.1B net PPE (over 50%),” Burry noted, emphasizing the disconnect. He pointed out the irony of Baidu extending the useful life of servers in 2021 and 2024 to smooth earnings, only to write off half the value of its property, plant, and equipment in 2025.\nIn 2024, Baidu's net income rose over 50% largely due to a decision to extend the estimated “useful life” of its servers from five to six years. Burry highlights, this accounting tweak artificially lowered depreciation expenses and boosted the bottom line, creating the illusion of growth.\n\n\"But it's Baidu\"2021:Useful life 4->5 years for servers2024: Useful life 5->6 years for serversTook a RMB 16.2 billion impairment on RMB 30.1B net PPE. (over 50%)Had RMB 8-11 billion cap ex each of last 4 years, and Depreciation RMB 6.8 billion in 2024In 2024, net income… pic.twitter.com/VriykpzLV0— Cassandra Unchained (@michaeljburry) November 19, 2025\n\nSee Also: Baidu’s AI Cloud Takes Off, But Ad Slump Steals Spotlight\nManagement Says Q3 Impairment Is For New AI Infrastructure\nDuring the third-quarter earnings call, Baidu management defended the massive write-down as a necessary step for their AI pivot.\n“We are accelerating investments in the latest AI computing technologies without any hesitation,” said Baidu CFO Haijian He.\n“Some of the existing assets no longer meet today’s computing efficiency requirements. So we actually proactively did some impairments.”\nHowever, the core business numbers for the third quarter struggled to back up the bullish narrative. Total revenue dipped 7% year-over-year to $4.38 billion, and free cash flow turned negative as AI spending ramped up.\nWhile CEO Robin Li insisted that “AI is driving transformative value,” Burry's analysis suggests that Baidu’s earnings history is colored by shifting accounting goalposts, leaving investors to question the true useful life of the company's assets.\nBaidu Outperforms Nasdaq In 2025\nShares of BIDU have risen 41.64% year-to-date, whereas the Nasdaq Composite and Nasdaq 100 indices have returned 16.35% and 16.82%, respectively.\nOn Tuesday, the shares closed 2.66% higher at $117.14 apiece and dropped by 2.64% overnight. The stock has gained 36.18% over the year.\nBIDU maintains a weaker price trend over the short term but a strong trend in the medium and long terms, with a strong value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.\n\nThe futures of the S&P 500, Nasdaq 100, and Dow Jones indices were trading lower on Wednesday, after closing lower for the second consecutive day on Tuesday.\nRead Next:\n\n‘Big Short’ Michael Burry Reaffirms His Long MOH, Short PLTR Stance Days After De-Registering Fund: ‘Peanut Butter And Bananas’ Trade\n\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Tada Images on Shutterstock.com","news_type":1,"symbols_score_info":{"89888":0.6,"TQQQ":0.6,"SQQQ":0.6,"BIDU":1.5,"USAW.SI":0.6,".IXIC":0.65,"PSQ":0.6,"QID":0.6,"QLD":0.6,"MNQmain":0.6,"NQmain":0.6,"NVIW.SI":0.6,"USJW.SI":0.6,"TSYW.SI":0.6,"09888":1.5,"AI":0.86}},"isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":501617966121024,"gmtCreate":1763473257700,"gmtModify":1763473259890,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"title":"","htmlText":"也是失速了","listText":"也是失速了","text":"也是失速了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/501617966121024","repostId":"1129036018","repostType":4,"repost":{"id":"1129036018","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1763461923,"share":"https://www.laohu8.com/m/news/1129036018?lang=&edition=full","pubTime":"2025-11-18 18:32","market":"us","language":"zh","title":"拼多多三季度营收1082.8亿元，调整后净利润313.8亿元","url":"https://stock-news.laohu8.com/highlight/detail?id=1129036018","media":"老虎资讯综合","summary":"去年同期993.54亿元。","content":"<html><head></head><body><p><strong><a href=\"https://laohu8.com/S/PDD\">拼多多</a> 2025年第三季度营收1082.8亿元人民币，同比增长9%，为公司近年来营收增速首次降至个位数区间。预估1,075.9亿元。</strong></p><blockquote><p>营收增长主要来自两大核心业务，但增速均不高。其中，在线营销服务及其他收入为533.5亿元，同比增长8%。交易服务收入为549.3亿元，同比增长10%。拼多多财务副总裁表示：<strong>“营收增长持续放缓，反映了竞争格局的持续演变和外部不确定性”。</strong>她同时预警，随着公司推出更多商户支持举措和生态系统投资，季度财务业绩可能会持续波动。</p></blockquote><p>第三季度归属于股东的净利润293.3亿元，同比增长17%；Non-GAAP净利润313.8亿元，同比增长14%。</p><p style=\"text-align: start;\">第三季度调整后营业利润270.8亿元人民币，同比增长1.2%，预估244.6亿元人民币。</p><p>第三季度调整后每ADS收益21.08元，预估16.86元。</p><p style=\"text-align: start;\">第三季度研发支出43.3亿元人民币，同比增长41%，预估36.4亿元人民币。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90b3cc0bb063095efaea0842c94de96e\" title=\"\" tg-width=\"1024\" tg-height=\"642\"/></p><p>本季度，拼多多“千亿扶持”继续加大对生态建设的投入，持续为商家减免服务费，提供流量和资源扶持。随着“千亿扶持”的重磅投入，或将持续影响拼多多未来几个季度的业绩表现。</p><p><strong>业务表现及成本开支</strong></p><p>来自在线营销服务及其他服务的营收为533.476亿元（约合74.937亿美元），与2024年同期的493.510亿元相比增长8%。</p><p style=\"text-align: start;\">来自交易服务的营收为549.289亿元（约合77.158亿美元），与2024年同期的500.034亿元相比增长10%。</p><p style=\"text-align: start;\">营收成本为468.402亿元（约合65.796亿美元），与2024年同期的397.092亿元相比增长18%。该增长主要因为履约费、带宽和服务器成本，以及支付处理费的增加。</p><p style=\"text-align: start;\">整体运营开支为364.104亿元（约合51.145亿美元），而2024年同期为353.527亿元。</p><p style=\"text-align: start;\">销售与营销开支为303.229亿元（约合42.594亿美元），而2024年同期为304.838亿元。</p><p style=\"text-align: start;\">总务与行政开支为17.553亿元（约合2.466亿美元），而2024年同期为18.056亿元。</p><p style=\"text-align: start;\">研发开支为43.322亿元（约合6.085亿美元），与2024年同期的30.634亿元相比增长41%。该增长主要是由于员工相关成本以及带宽和服务器成本增加。</p><p>拼多多盘前股价大幅震荡，一度拉升涨超3%，后快速跳水转跌。截至发稿跌幅扩大至近4%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/32977e2219f81d69ff489d9fbdfb7117\" title=\"\" tg-width=\"1164\" tg-height=\"456\"/></p><p><strong>高管解读</strong></p><p>面对增长放缓，拼多多管理层集体传递了聚焦长期价值、承担更多社会责任和积极应对竞争的信号。董事长兼联席首席执行官陈磊在公司成立十周年之际表示：</p><blockquote><p style=\"text-align: justify;\">“展望未来，随着我们规模的扩大，我们准备承担更大的社会责任，并继续服务于更广泛的公共利益和整个电商生态系统的长远前景。”</p></blockquote><p style=\"text-align: justify;\">联席首席执行官赵佳臻表示，公司将坚持长期主义，继续投资于商户支持计划，以推动行业升级和平台的长期可持续发展。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>拼多多三季度营收1082.8亿元，调整后净利润313.8亿元</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n拼多多三季度营收1082.8亿元，调整后净利润313.8亿元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-11-18 18:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong><a href=\"https://laohu8.com/S/PDD\">拼多多</a> 2025年第三季度营收1082.8亿元人民币，同比增长9%，为公司近年来营收增速首次降至个位数区间。预估1,075.9亿元。</strong></p><blockquote><p>营收增长主要来自两大核心业务，但增速均不高。其中，在线营销服务及其他收入为533.5亿元，同比增长8%。交易服务收入为549.3亿元，同比增长10%。拼多多财务副总裁表示：<strong>“营收增长持续放缓，反映了竞争格局的持续演变和外部不确定性”。</strong>她同时预警，随着公司推出更多商户支持举措和生态系统投资，季度财务业绩可能会持续波动。</p></blockquote><p>第三季度归属于股东的净利润293.3亿元，同比增长17%；Non-GAAP净利润313.8亿元，同比增长14%。</p><p style=\"text-align: start;\">第三季度调整后营业利润270.8亿元人民币，同比增长1.2%，预估244.6亿元人民币。</p><p>第三季度调整后每ADS收益21.08元，预估16.86元。</p><p style=\"text-align: start;\">第三季度研发支出43.3亿元人民币，同比增长41%，预估36.4亿元人民币。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/90b3cc0bb063095efaea0842c94de96e\" title=\"\" tg-width=\"1024\" tg-height=\"642\"/></p><p>本季度，拼多多“千亿扶持”继续加大对生态建设的投入，持续为商家减免服务费，提供流量和资源扶持。随着“千亿扶持”的重磅投入，或将持续影响拼多多未来几个季度的业绩表现。</p><p><strong>业务表现及成本开支</strong></p><p>来自在线营销服务及其他服务的营收为533.476亿元（约合74.937亿美元），与2024年同期的493.510亿元相比增长8%。</p><p style=\"text-align: start;\">来自交易服务的营收为549.289亿元（约合77.158亿美元），与2024年同期的500.034亿元相比增长10%。</p><p style=\"text-align: start;\">营收成本为468.402亿元（约合65.796亿美元），与2024年同期的397.092亿元相比增长18%。该增长主要因为履约费、带宽和服务器成本，以及支付处理费的增加。</p><p style=\"text-align: start;\">整体运营开支为364.104亿元（约合51.145亿美元），而2024年同期为353.527亿元。</p><p style=\"text-align: start;\">销售与营销开支为303.229亿元（约合42.594亿美元），而2024年同期为304.838亿元。</p><p style=\"text-align: start;\">总务与行政开支为17.553亿元（约合2.466亿美元），而2024年同期为18.056亿元。</p><p style=\"text-align: start;\">研发开支为43.322亿元（约合6.085亿美元），与2024年同期的30.634亿元相比增长41%。该增长主要是由于员工相关成本以及带宽和服务器成本增加。</p><p>拼多多盘前股价大幅震荡，一度拉升涨超3%，后快速跳水转跌。截至发稿跌幅扩大至近4%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/32977e2219f81d69ff489d9fbdfb7117\" title=\"\" tg-width=\"1164\" tg-height=\"456\"/></p><p><strong>高管解读</strong></p><p>面对增长放缓，拼多多管理层集体传递了聚焦长期价值、承担更多社会责任和积极应对竞争的信号。董事长兼联席首席执行官陈磊在公司成立十周年之际表示：</p><blockquote><p style=\"text-align: justify;\">“展望未来，随着我们规模的扩大，我们准备承担更大的社会责任，并继续服务于更广泛的公共利益和整个电商生态系统的长远前景。”</p></blockquote><p style=\"text-align: justify;\">联席首席执行官赵佳臻表示，公司将坚持长期主义，继续投资于商户支持计划，以推动行业升级和平台的长期可持续发展。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e42c16a083ab273c19aaae21cdb697a0","relate_stocks":{"PDD":"拼多多"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129036018","content_text":"拼多多 2025年第三季度营收1082.8亿元人民币，同比增长9%，为公司近年来营收增速首次降至个位数区间。预估1,075.9亿元。营收增长主要来自两大核心业务，但增速均不高。其中，在线营销服务及其他收入为533.5亿元，同比增长8%。交易服务收入为549.3亿元，同比增长10%。拼多多财务副总裁表示：“营收增长持续放缓，反映了竞争格局的持续演变和外部不确定性”。她同时预警，随着公司推出更多商户支持举措和生态系统投资，季度财务业绩可能会持续波动。第三季度归属于股东的净利润293.3亿元，同比增长17%；Non-GAAP净利润313.8亿元，同比增长14%。第三季度调整后营业利润270.8亿元人民币，同比增长1.2%，预估244.6亿元人民币。第三季度调整后每ADS收益21.08元，预估16.86元。第三季度研发支出43.3亿元人民币，同比增长41%，预估36.4亿元人民币。本季度，拼多多“千亿扶持”继续加大对生态建设的投入，持续为商家减免服务费，提供流量和资源扶持。随着“千亿扶持”的重磅投入，或将持续影响拼多多未来几个季度的业绩表现。业务表现及成本开支来自在线营销服务及其他服务的营收为533.476亿元（约合74.937亿美元），与2024年同期的493.510亿元相比增长8%。来自交易服务的营收为549.289亿元（约合77.158亿美元），与2024年同期的500.034亿元相比增长10%。营收成本为468.402亿元（约合65.796亿美元），与2024年同期的397.092亿元相比增长18%。该增长主要因为履约费、带宽和服务器成本，以及支付处理费的增加。整体运营开支为364.104亿元（约合51.145亿美元），而2024年同期为353.527亿元。销售与营销开支为303.229亿元（约合42.594亿美元），而2024年同期为304.838亿元。总务与行政开支为17.553亿元（约合2.466亿美元），而2024年同期为18.056亿元。研发开支为43.322亿元（约合6.085亿美元），与2024年同期的30.634亿元相比增长41%。该增长主要是由于员工相关成本以及带宽和服务器成本增加。拼多多盘前股价大幅震荡，一度拉升涨超3%，后快速跳水转跌。截至发稿跌幅扩大至近4%。高管解读面对增长放缓，拼多多管理层集体传递了聚焦长期价值、承担更多社会责任和积极应对竞争的信号。董事长兼联席首席执行官陈磊在公司成立十周年之际表示：“展望未来，随着我们规模的扩大，我们准备承担更大的社会责任，并继续服务于更广泛的公共利益和整个电商生态系统的长远前景。”联席首席执行官赵佳臻表示，公司将坚持长期主义，继续投资于商户支持计划，以推动行业升级和平台的长期可持续发展。","news_type":1,"symbols_score_info":{"PDD":2}},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":501344034583240,"gmtCreate":1763428320051,"gmtModify":1763428332058,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$ </a> 这是谁的部将，这么着急出售","listText":"<a href=\"https://laohu8.com/S/09888\">$百度集团-SW(09888)$ </a> 这是谁的部将，这么着急出售","text":"$百度集团-SW(09888)$ 这是谁的部将，这么着急出售","images":[{"img":"https://static.tigerbbs.com/fcc70129cacb5b2d9c8fd719e51752d9","width":"1080","height":"2812"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/501344034583240","isVote":1,"tweetType":1,"viewCount":16115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":496752917971496,"gmtCreate":1762300730050,"gmtModify":1762300732279,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"title":"","htmlText":"低估了CUDA的统治力","listText":"低估了CUDA的统治力","text":"低估了CUDA的统治力","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/496752917971496","repostId":"1108664709","repostType":4,"repost":{"id":"1108664709","kind":"news","pubTimestamp":1762296305,"share":"https://www.laohu8.com/m/news/1108664709?lang=&edition=full","pubTime":"2025-11-05 06:45","market":"us","language":"zh","title":"AMD营收大超预期但指引未能打动投资者，股价盘后震荡下挫","url":"https://stock-news.laohu8.com/highlight/detail?id=1108664709","media":"华尔街见闻","summary":"AMD周二盘后公布财报显示，该公司第三季度营收、资本开支均高于分析师预期，但四季度营收指引未能打动投资者，该公司股票周三盘后震荡下滑。营收指引未能打动投资者近期，华尔街愈发担心AI泡沫风险，而AMD的业绩表现正受到密切关注。AMD在周二发布的声明中表示，预计第四季度营收约为96亿美元。财报公布后，AMD股价在盘后交易中一度下跌超3%，跌幅随后有所收窄。","content":"<html><head></head><body><blockquote><p>AMD财报显示，该公司第三季度营收、利润及资本开支均高于预期，但第四季度营收指引未能如市场预期般“更激进”，股价盘后震荡下滑。分析称，虽然AI大单不断落地，市场仍担心兑现速度不及预期，AMD能否借AI份额撼动英伟达仍未可知。</p></blockquote><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2add249290dd0105b9e558640f0a5a31\" tg-width=\"1080\" tg-height=\"1080\"/></p><p style=\"text-align: justify;\">AMD周二盘后公布财报显示，该公司第三季度营收、资本开支均高于分析师预期，但四季度营收指引未能打动投资者，该公司股票周三盘后震荡下滑。</p><p style=\"text-align: justify;\">以下是AMD第三季度财报要点：</p><p style=\"text-align: justify;\"><strong>主要财务数据：</strong></p><blockquote><p style=\"text-align: justify;\"><strong>营收：</strong>AMD第三季度营收为92.46亿美元，去年同期为68.19亿美元，同比增长36%，高于分析师预期的87.4亿美元。</p><p style=\"text-align: justify;\"><strong>毛利：</strong>AMD第三季度毛利为47.80亿美元，去年同期为34.19亿美元，同比增长40%；毛利率为52%，较去年同期提升2个百分点。</p><p style=\"text-align: justify;\"><strong>运营利润：</strong>AMD第三季度运营利润为12.70亿美元，去年同期为7.24亿美元，同比增长75%；</p><p style=\"text-align: justify;\"><strong>净利润：</strong>AMD第三季度净利润为12.43亿美元，去年同期为7.71亿美元，同比增长61%。</p><p style=\"text-align: justify;\"><strong>每股收益：</strong>AMD第三季度每股收益为0.75美元，去年同期为0.47美元。非GAAP口径下每股收益为1.20美元，去年同期为0.92美元，同比增长30%，高于分析师预期的1.17美元。</p><p style=\"text-align: justify;\"><strong>资本开支：</strong>AMD第三季度三季度资本开支2.58亿美元，高于预期的2.197亿美元。</p></blockquote><p style=\"text-align: justify;\"><strong>分业务数据：</strong></p><blockquote><p style=\"text-align: justify;\"><strong>数据中心业务：</strong>数据中心业务部门营收为43亿美元，同比增长22%，超过分析师预期的41.4亿美元。主要受第五代AMD EPYC™处理器和AMD Instinct MI350系列GPU的强劲需求带动。</p><p style=\"text-align: justify;\"><strong>客户与游戏业务：</strong>客户端与游戏业务部门营收为40亿美元，同比增长73%，超过分析师预期的26亿美元。</p><ul style=\"\"><li><p>客户端业务营收创下28亿美元的新纪录，同比增长46%，主要受Ryzen™处理器创纪录销量和产品组合优化带动，高于分析师预期的26亿美元。</p></li><li><p>游戏业务营收为13亿美元，同比增长181%，得益于半定制业务收入提升以及对Radeon™游戏GPU的强劲需求，高于分析师预期的11亿美元。</p></li></ul><p style=\"text-align: justify;\"><strong>嵌入式业务：</strong>嵌入式业务部门营收为8.57亿美元，同比下降8%。</p></blockquote><p style=\"text-align: justify;\"><strong>第四季度业绩指引：</strong></p><blockquote><p style=\"text-align: justify;\"><strong>营收：</strong>AMD预计营收约为93亿-99亿美元，分析师平均预期92.1亿美元。以该营收区间的中值计算，同比增长约25%，环比增长约4%。</p><p style=\"text-align: justify;\"><strong>毛利率：</strong>非GAAP口径的毛利率预计约为54.5%，与分析师预期持平。</p></blockquote><h2 id=\"id_560136813\">营收指引未能打动投资者</h2><p style=\"text-align: justify;\">近期，华尔街愈发担心AI泡沫风险，而AMD的业绩表现正受到密切关注。<strong>媒体称，作为人工智能芯片市场上唯一能与英伟达（Nvidia）抗衡的主要竞争者，AMD在今年股价暴涨、市场预期大幅升温之后，公布的营收展望未能打动投资者。</strong></p><p style=\"text-align: justify;\">AMD在周二发布的声明中表示，预计第四季度营收约为96亿美元。虽然分析师平均预估为92亿美元，但部分最高预期曾达到99亿美元。</p><p style=\"text-align: justify;\">在与OpenAI和甲骨文（Oracle）达成重磅合作协议后，投资者大举押注AMD。这两家公司计划在建设人工智能算力体系中使用AMD芯片。市场希望AMD能借此撼动英伟达在AI处理器市场上的长期主导地位。</p><p style=\"text-align: justify;\">不过，媒体表示，周三公布的业绩展望显示，AMD兑现市场期待的速度可能会比部分投资者预想的更慢。</p><p style=\"text-align: justify;\">财报公布后，AMD股价在盘后交易中一度下跌超3%，跌幅随后有所收窄。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8188934aba59ee33d9b438c1377d678e\" title=\"\" tg-width=\"910\" tg-height=\"567\"/></p><p style=\"text-align: justify;\">在声明中，首席执行官苏姿丰（Lisa Su）表示，随着AMD希望借助AI推动营收和盈利增长，这份成绩单标志着“我们的增长轨迹正在明显提升”。</p><blockquote><p style=\"text-align: justify;\">“我们交出了一份非常亮眼的季度成绩单，创纪录的营收和盈利反映出市场对我们高性能EPYC和Ryzen处理器以及Instinct AI加速器的广泛需求。我们第三季度的创纪录表现和强劲的第四季度业绩指引，清晰表明我们的增长正在加速，随着我们计算业务的扩大与数据中心AI业务的快速增长，将带来显著的营收和盈利提升。”</p></blockquote><h2 id=\"id_4074734925\">近期达成多项协议</h2><p style=\"text-align: justify;\">AMD近期与OpenAI、甲骨文及美国能源部（US Department of Energy）达成的合作协议，反映出市场对其MI系列AI加速器兴趣显著上升。这类产品正面竞争英伟达芯片，被用于数据中心创建和运行AI服务。</p><p style=\"text-align: justify;\">上个月，AMD与OpenAI签署协议，将向其提供最多6吉瓦（GW）的GPU算力，用于其AI数据中心。作为交换，OpenAI同意购买最多1.6亿股AMD股票，约占公司10%的股份。该数据中心使用的是AMD最新一代MI450处理器，该产品预计将于明年发布。</p><p style=\"text-align: justify;\">而根据与甲骨文的协议，AMD将向其云数据中心部署最多5万颗GPU。</p><p style=\"text-align: justify;\">AMD亦是PC和服务器领域最大的图形芯片和中央处理器供应商之一。上月，竞争对手英特尔（Intel）曾表示，市场对新一代支持AI的笔记本电脑和企业服务器需求强劲。AMD在这些关键领域正持续蚕食这位长期对手的市场份额。</p><p style=\"text-align: justify;\">此外，AMD还为美国能源部在橡树岭国家实验室（Oak Ridge National Laboratory）建设的两台超级计算机提供芯片。这两套系统建成后预计将代表10亿美元的公共与私人投资。</p><p style=\"text-align: justify;\">但AMD仍落后于英伟达，后者掌控了大部分AI市场，市值近期突破5万亿美元。相比之下，AMD的市值约为4180亿美元。</p><h2 id=\"id_2669049461\">分析师：对英伟达的替代需求仍在</h2><p style=\"text-align: justify;\">摩根士丹利分析师Joseph Moore在研报中写道，AMD的MI450芯片和机架级产品将是公司未来增长战略的重要组成部分。</p><p style=\"text-align: justify;\">Moore在AMD公告发布前曾表示：</p><blockquote><p style=\"text-align: justify;\">“AMD计划明年开始交付的机架级解决方案至关重要，我们很期待公司会取得怎样的成果。”</p><p style=\"text-align: justify;\">“现在判断市场份额还为时过早，虽然与OpenAI的协议显然具有加速作用，但要通过云厂商推动这6吉瓦算力落地仍存在一定不确定性。最终，要实现市场份额提升，公司需要提供比英伟达更高的投资回报率，而客户仍对此提出疑问，因为AMD在机架密度方面较低，同时生态系统问题仍待解决。”</p></blockquote><p style=\"text-align: justify;\">D.A. Davidson分析师Gil Luria表示：</p><blockquote><p style=\"text-align: justify;\">“我认为AMD正处在潜在拐点的前夕，但这取决于他们后续在运营端的执行能力，以及能否推出在规模化场景下保持高良率和高性能的芯片。<strong>如果他们能做到，订单就在那儿，市场对英伟达替代方案的需求很强。”</strong></p></blockquote><p style=\"text-align: justify;\">另一方面，作为AMD的重要云客户之一，亚马逊（Amazon）在周二提交的文件中披露，截至9月30日已出售其持有的全部822,234股AMD股票。亚马逊是在第一季度期间建立该头寸的。</p></body></html>","source":"lsy1700700604709","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMD营收大超预期但指引未能打动投资者，股价盘后震荡下挫</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMD营收大超预期但指引未能打动投资者，股价盘后震荡下挫\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-11-05 06:45 北京时间 <a href=https://wallstreetcn.com/articles/3758680><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AMD财报显示，该公司第三季度营收、利润及资本开支均高于预期，但第四季度营收指引未能如市场预期般“更激进”，股价盘后震荡下滑。分析称，虽然AI大单不断落地，市场仍担心兑现速度不及预期，AMD能否借AI份额撼动英伟达仍未可知。AMD周二盘后公布财报显示，该公司第三季度营收、资本开支均高于分析师预期，但四季度营收指引未能打动投资者，该公司股票周三盘后震荡下滑。以下是AMD第三季度财报要点：主要财务数据...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3758680\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a593d85be38c3aa543ab3056553101ff","relate_stocks":{"AMD":"美国超微公司"},"source_url":"https://wallstreetcn.com/articles/3758680","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108664709","content_text":"AMD财报显示，该公司第三季度营收、利润及资本开支均高于预期，但第四季度营收指引未能如市场预期般“更激进”，股价盘后震荡下滑。分析称，虽然AI大单不断落地，市场仍担心兑现速度不及预期，AMD能否借AI份额撼动英伟达仍未可知。AMD周二盘后公布财报显示，该公司第三季度营收、资本开支均高于分析师预期，但四季度营收指引未能打动投资者，该公司股票周三盘后震荡下滑。以下是AMD第三季度财报要点：主要财务数据：营收：AMD第三季度营收为92.46亿美元，去年同期为68.19亿美元，同比增长36%，高于分析师预期的87.4亿美元。毛利：AMD第三季度毛利为47.80亿美元，去年同期为34.19亿美元，同比增长40%；毛利率为52%，较去年同期提升2个百分点。运营利润：AMD第三季度运营利润为12.70亿美元，去年同期为7.24亿美元，同比增长75%；净利润：AMD第三季度净利润为12.43亿美元，去年同期为7.71亿美元，同比增长61%。每股收益：AMD第三季度每股收益为0.75美元，去年同期为0.47美元。非GAAP口径下每股收益为1.20美元，去年同期为0.92美元，同比增长30%，高于分析师预期的1.17美元。资本开支：AMD第三季度三季度资本开支2.58亿美元，高于预期的2.197亿美元。分业务数据：数据中心业务：数据中心业务部门营收为43亿美元，同比增长22%，超过分析师预期的41.4亿美元。主要受第五代AMD EPYC™处理器和AMD Instinct MI350系列GPU的强劲需求带动。客户与游戏业务：客户端与游戏业务部门营收为40亿美元，同比增长73%，超过分析师预期的26亿美元。客户端业务营收创下28亿美元的新纪录，同比增长46%，主要受Ryzen™处理器创纪录销量和产品组合优化带动，高于分析师预期的26亿美元。游戏业务营收为13亿美元，同比增长181%，得益于半定制业务收入提升以及对Radeon™游戏GPU的强劲需求，高于分析师预期的11亿美元。嵌入式业务：嵌入式业务部门营收为8.57亿美元，同比下降8%。第四季度业绩指引：营收：AMD预计营收约为93亿-99亿美元，分析师平均预期92.1亿美元。以该营收区间的中值计算，同比增长约25%，环比增长约4%。毛利率：非GAAP口径的毛利率预计约为54.5%，与分析师预期持平。营收指引未能打动投资者近期，华尔街愈发担心AI泡沫风险，而AMD的业绩表现正受到密切关注。媒体称，作为人工智能芯片市场上唯一能与英伟达（Nvidia）抗衡的主要竞争者，AMD在今年股价暴涨、市场预期大幅升温之后，公布的营收展望未能打动投资者。AMD在周二发布的声明中表示，预计第四季度营收约为96亿美元。虽然分析师平均预估为92亿美元，但部分最高预期曾达到99亿美元。在与OpenAI和甲骨文（Oracle）达成重磅合作协议后，投资者大举押注AMD。这两家公司计划在建设人工智能算力体系中使用AMD芯片。市场希望AMD能借此撼动英伟达在AI处理器市场上的长期主导地位。不过，媒体表示，周三公布的业绩展望显示，AMD兑现市场期待的速度可能会比部分投资者预想的更慢。财报公布后，AMD股价在盘后交易中一度下跌超3%，跌幅随后有所收窄。在声明中，首席执行官苏姿丰（Lisa Su）表示，随着AMD希望借助AI推动营收和盈利增长，这份成绩单标志着“我们的增长轨迹正在明显提升”。“我们交出了一份非常亮眼的季度成绩单，创纪录的营收和盈利反映出市场对我们高性能EPYC和Ryzen处理器以及Instinct AI加速器的广泛需求。我们第三季度的创纪录表现和强劲的第四季度业绩指引，清晰表明我们的增长正在加速，随着我们计算业务的扩大与数据中心AI业务的快速增长，将带来显著的营收和盈利提升。”近期达成多项协议AMD近期与OpenAI、甲骨文及美国能源部（US Department of Energy）达成的合作协议，反映出市场对其MI系列AI加速器兴趣显著上升。这类产品正面竞争英伟达芯片，被用于数据中心创建和运行AI服务。上个月，AMD与OpenAI签署协议，将向其提供最多6吉瓦（GW）的GPU算力，用于其AI数据中心。作为交换，OpenAI同意购买最多1.6亿股AMD股票，约占公司10%的股份。该数据中心使用的是AMD最新一代MI450处理器，该产品预计将于明年发布。而根据与甲骨文的协议，AMD将向其云数据中心部署最多5万颗GPU。AMD亦是PC和服务器领域最大的图形芯片和中央处理器供应商之一。上月，竞争对手英特尔（Intel）曾表示，市场对新一代支持AI的笔记本电脑和企业服务器需求强劲。AMD在这些关键领域正持续蚕食这位长期对手的市场份额。此外，AMD还为美国能源部在橡树岭国家实验室（Oak Ridge National Laboratory）建设的两台超级计算机提供芯片。这两套系统建成后预计将代表10亿美元的公共与私人投资。但AMD仍落后于英伟达，后者掌控了大部分AI市场，市值近期突破5万亿美元。相比之下，AMD的市值约为4180亿美元。分析师：对英伟达的替代需求仍在摩根士丹利分析师Joseph Moore在研报中写道，AMD的MI450芯片和机架级产品将是公司未来增长战略的重要组成部分。Moore在AMD公告发布前曾表示：“AMD计划明年开始交付的机架级解决方案至关重要，我们很期待公司会取得怎样的成果。”“现在判断市场份额还为时过早，虽然与OpenAI的协议显然具有加速作用，但要通过云厂商推动这6吉瓦算力落地仍存在一定不确定性。最终，要实现市场份额提升，公司需要提供比英伟达更高的投资回报率，而客户仍对此提出疑问，因为AMD在机架密度方面较低，同时生态系统问题仍待解决。”D.A. Davidson分析师Gil Luria表示：“我认为AMD正处在潜在拐点的前夕，但这取决于他们后续在运营端的执行能力，以及能否推出在规模化场景下保持高良率和高性能的芯片。如果他们能做到，订单就在那儿，市场对英伟达替代方案的需求很强。”另一方面，作为AMD的重要云客户之一，亚马逊（Amazon）在周二提交的文件中披露，截至9月30日已出售其持有的全部822,234股AMD股票。亚马逊是在第一季度期间建立该头寸的。","news_type":1,"symbols_score_info":{"AMD":2}},"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":490431238430768,"gmtCreate":1760761604157,"gmtModify":1760765363769,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"htmlText":"逝者安息","listText":"逝者安息","text":"逝者安息","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/490431238430768","repostId":"1156287093","repostType":2,"repost":{"id":"1156287093","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1760761207,"share":"https://www.laohu8.com/m/news/1156287093?lang=&edition=full","pubTime":"2025-10-18 12:20","market":"us","language":"zh","title":"著名物理学家、诺贝尔物理学奖得主杨振宁逝世","url":"https://stock-news.laohu8.com/highlight/detail?id=1156287093","media":"老虎资讯综合","summary":"享誉世界的物理学家、诺贝尔物理学奖获得者，中国科学院院士，清华大学教授、清华大学高等研究院名誉院长杨振宁先生，因病于2025年10月18日在北京逝世，享年103岁。（新华社）","content":"<html><head></head><body><p>10月18日，据新华社，享誉世界的物理学家、诺贝尔物理学奖获得者，中国科学院院士，清华大学教授、清华大学高等研究院名誉院长杨振宁先生，因病于2025年10月18日在北京逝世，享年103岁。</p><p>杨振宁1922年出生于安徽合肥，上世纪40年代赴美留学任教，1957年获诺贝尔物理学奖。他与米尔斯提出的杨－米尔斯规范场论，是20世纪物理学最为重要的成就之一。回国20多年来，杨振宁在清华大学任教，在培养和延揽人才、促进中外学术交流等方面作出重要贡献。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed715b2f236ddcdbfedd838a533f7a4\" title=\"\" tg-width=\"1000\" tg-height=\"1212\"/></p><p>杨振宁先生1922年出生于安徽合肥，1929年随父母来到清华园。1938年考入西南联合大学，1942年入清华大学研究院，1944年获理学硕士学位，1945年作为清华大学留美公费生赴美留学，就读于芝加哥大学，1948年获博士学位后留校工作。1949年加入普林斯顿高等研究院，1952年任永久研究员，1955年任教授。1966年任纽约州立大学石溪分校爱因斯坦讲座教授，创立理论物理研究所（现名为杨振宁理论物理研究所），并在该研究所工作至1999年。1986年起应邀担任香港中文大学博文讲座教授。1997年起任新成立的清华大学高等研究中心（现名为高等研究院）名誉主任，1999年起任清华大学教授。</p><p>杨振宁先生是20世纪最伟大的物理学家之一，为现代物理学的发展作出卓越贡献。他与米尔斯提出的“杨-米尔斯规范场论”奠定了后来粒子物理标准模型的基础，被认为是现代物理学的基石之一，是与麦克斯韦方程和爱因斯坦广义相对论相媲美的最重要的基础物理理论之一。他与李政道合作提出弱相互作用中宇称不守恒的革命性思想，并获得1957年诺贝尔物理学奖，共同成为最早获得诺贝尔奖的中国人。他发现了一维量子多体问题的关键方程式“杨-巴克斯特方程”，开辟了统计物理和量子群等物理和数学研究的新方向。他在粒子物理、场论、统计物理和凝聚态物理等物理学多个领域取得的诸多成就，对这些领域的发展产生深远影响。他是十余个国家和地区科学院的外籍院士，获颁国内外二十余所知名大学的名誉博士学位，还获得了美国国家科学奖章、富兰克林奖章、昂萨格奖、费萨尔国王国际科学奖、中国国际科技合作奖、求是终身成就奖等众多荣誉。</p><p>杨振宁先生毕生心系家国，为祖国的科教事业作出了杰出贡献。1971年他首次回新中国访问，掀起大批华裔学者访华热潮，被誉为架设中美学术交流桥梁第一人，后又向中央领导同志提议恢复和加强基础科学研究。他亲自募集资金设立“对华教育交流委员会”，持续资助中国学者近百人到美国进修，这些学者成为后来中国科技发展的中坚力量。他为促进国内科技交流和进步做了大量工作，为中国重大科学工程和科教政策制定建言献策、发挥了重要影响。回到清华之后，他把高等研究院的发展作为自己的新事业，为清华大学物理学等基础学科的发展和学校人才培养事业倾注了大量心血、作出了极大贡献，对中国高等教育的改革发展产生了重要影响。</p><p>杨振宁先生的一生，是探索未知的不朽传奇，是心怀家国的永恒回响。“宁拙毋巧，宁朴毋华”是他的治学态度，也是他的人生态度。正如他钟爱的诗句“文章千古事，得失寸心知”，杨振宁先生的百年人生是一部闪耀在人类群星中的千古篇章。</p><p>杨振宁先生永垂不朽！</p></body></html>","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n著名物理学家、诺贝尔物理学奖得主杨振宁逝世\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-10-18 12:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>10月18日，据新华社，享誉世界的物理学家、诺贝尔物理学奖获得者，中国科学院院士，清华大学教授、清华大学高等研究院名誉院长杨振宁先生，因病于2025年10月18日在北京逝世，享年103岁。</p><p>杨振宁1922年出生于安徽合肥，上世纪40年代赴美留学任教，1957年获诺贝尔物理学奖。他与米尔斯提出的杨－米尔斯规范场论，是20世纪物理学最为重要的成就之一。回国20多年来，杨振宁在清华大学任教，在培养和延揽人才、促进中外学术交流等方面作出重要贡献。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed715b2f236ddcdbfedd838a533f7a4\" title=\"\" tg-width=\"1000\" tg-height=\"1212\"/></p><p>杨振宁先生1922年出生于安徽合肥，1929年随父母来到清华园。1938年考入西南联合大学，1942年入清华大学研究院，1944年获理学硕士学位，1945年作为清华大学留美公费生赴美留学，就读于芝加哥大学，1948年获博士学位后留校工作。1949年加入普林斯顿高等研究院，1952年任永久研究员，1955年任教授。1966年任纽约州立大学石溪分校爱因斯坦讲座教授，创立理论物理研究所（现名为杨振宁理论物理研究所），并在该研究所工作至1999年。1986年起应邀担任香港中文大学博文讲座教授。1997年起任新成立的清华大学高等研究中心（现名为高等研究院）名誉主任，1999年起任清华大学教授。</p><p>杨振宁先生是20世纪最伟大的物理学家之一，为现代物理学的发展作出卓越贡献。他与米尔斯提出的“杨-米尔斯规范场论”奠定了后来粒子物理标准模型的基础，被认为是现代物理学的基石之一，是与麦克斯韦方程和爱因斯坦广义相对论相媲美的最重要的基础物理理论之一。他与李政道合作提出弱相互作用中宇称不守恒的革命性思想，并获得1957年诺贝尔物理学奖，共同成为最早获得诺贝尔奖的中国人。他发现了一维量子多体问题的关键方程式“杨-巴克斯特方程”，开辟了统计物理和量子群等物理和数学研究的新方向。他在粒子物理、场论、统计物理和凝聚态物理等物理学多个领域取得的诸多成就，对这些领域的发展产生深远影响。他是十余个国家和地区科学院的外籍院士，获颁国内外二十余所知名大学的名誉博士学位，还获得了美国国家科学奖章、富兰克林奖章、昂萨格奖、费萨尔国王国际科学奖、中国国际科技合作奖、求是终身成就奖等众多荣誉。</p><p>杨振宁先生毕生心系家国，为祖国的科教事业作出了杰出贡献。1971年他首次回新中国访问，掀起大批华裔学者访华热潮，被誉为架设中美学术交流桥梁第一人，后又向中央领导同志提议恢复和加强基础科学研究。他亲自募集资金设立“对华教育交流委员会”，持续资助中国学者近百人到美国进修，这些学者成为后来中国科技发展的中坚力量。他为促进国内科技交流和进步做了大量工作，为中国重大科学工程和科教政策制定建言献策、发挥了重要影响。回到清华之后，他把高等研究院的发展作为自己的新事业，为清华大学物理学等基础学科的发展和学校人才培养事业倾注了大量心血、作出了极大贡献，对中国高等教育的改革发展产生了重要影响。</p><p>杨振宁先生的一生，是探索未知的不朽传奇，是心怀家国的永恒回响。“宁拙毋巧，宁朴毋华”是他的治学态度，也是他的人生态度。正如他钟爱的诗句“文章千古事，得失寸心知”，杨振宁先生的百年人生是一部闪耀在人类群星中的千古篇章。</p><p>杨振宁先生永垂不朽！</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7ffbce7608b45a1e57f882c86586df57","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156287093","content_text":"10月18日，据新华社，享誉世界的物理学家、诺贝尔物理学奖获得者，中国科学院院士，清华大学教授、清华大学高等研究院名誉院长杨振宁先生，因病于2025年10月18日在北京逝世，享年103岁。杨振宁1922年出生于安徽合肥，上世纪40年代赴美留学任教，1957年获诺贝尔物理学奖。他与米尔斯提出的杨－米尔斯规范场论，是20世纪物理学最为重要的成就之一。回国20多年来，杨振宁在清华大学任教，在培养和延揽人才、促进中外学术交流等方面作出重要贡献。杨振宁先生1922年出生于安徽合肥，1929年随父母来到清华园。1938年考入西南联合大学，1942年入清华大学研究院，1944年获理学硕士学位，1945年作为清华大学留美公费生赴美留学，就读于芝加哥大学，1948年获博士学位后留校工作。1949年加入普林斯顿高等研究院，1952年任永久研究员，1955年任教授。1966年任纽约州立大学石溪分校爱因斯坦讲座教授，创立理论物理研究所（现名为杨振宁理论物理研究所），并在该研究所工作至1999年。1986年起应邀担任香港中文大学博文讲座教授。1997年起任新成立的清华大学高等研究中心（现名为高等研究院）名誉主任，1999年起任清华大学教授。杨振宁先生是20世纪最伟大的物理学家之一，为现代物理学的发展作出卓越贡献。他与米尔斯提出的“杨-米尔斯规范场论”奠定了后来粒子物理标准模型的基础，被认为是现代物理学的基石之一，是与麦克斯韦方程和爱因斯坦广义相对论相媲美的最重要的基础物理理论之一。他与李政道合作提出弱相互作用中宇称不守恒的革命性思想，并获得1957年诺贝尔物理学奖，共同成为最早获得诺贝尔奖的中国人。他发现了一维量子多体问题的关键方程式“杨-巴克斯特方程”，开辟了统计物理和量子群等物理和数学研究的新方向。他在粒子物理、场论、统计物理和凝聚态物理等物理学多个领域取得的诸多成就，对这些领域的发展产生深远影响。他是十余个国家和地区科学院的外籍院士，获颁国内外二十余所知名大学的名誉博士学位，还获得了美国国家科学奖章、富兰克林奖章、昂萨格奖、费萨尔国王国际科学奖、中国国际科技合作奖、求是终身成就奖等众多荣誉。杨振宁先生毕生心系家国，为祖国的科教事业作出了杰出贡献。1971年他首次回新中国访问，掀起大批华裔学者访华热潮，被誉为架设中美学术交流桥梁第一人，后又向中央领导同志提议恢复和加强基础科学研究。他亲自募集资金设立“对华教育交流委员会”，持续资助中国学者近百人到美国进修，这些学者成为后来中国科技发展的中坚力量。他为促进国内科技交流和进步做了大量工作，为中国重大科学工程和科教政策制定建言献策、发挥了重要影响。回到清华之后，他把高等研究院的发展作为自己的新事业，为清华大学物理学等基础学科的发展和学校人才培养事业倾注了大量心血、作出了极大贡献，对中国高等教育的改革发展产生了重要影响。杨振宁先生的一生，是探索未知的不朽传奇，是心怀家国的永恒回响。“宁拙毋巧，宁朴毋华”是他的治学态度，也是他的人生态度。正如他钟爱的诗句“文章千古事，得失寸心知”，杨振宁先生的百年人生是一部闪耀在人类群星中的千古篇章。杨振宁先生永垂不朽！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":490189423280232,"gmtCreate":1760702627093,"gmtModify":1760706532532,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"htmlText":"924新政牛市记录 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第一阶段告一段落了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/490189423280232","isVote":1,"tweetType":1,"viewCount":938,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":488136539005016,"gmtCreate":1760200889489,"gmtModify":1760200891322,"author":{"id":"3559984961569694","authorId":"3559984961569694","name":"南山小鱼人","avatar":"https://static.tigerbbs.com/eb76ca2ace8362af8e23def4f95d9a8f","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3559984961569694","idStr":"3559984961569694"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SSBI\">$Summit State Bank(SSBI)$ </a> 有人关注它吗","listText":"<a href=\"https://laohu8.com/S/SSBI\">$Summit State Bank(SSBI)$ </a> 有人关注它吗","text":"$Summit State Bank(SSBI)$ 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