AHI Journal 議題地圖

本刊觀察條件：提出 1581 條・已判定 0 條・尚無到期判定。每篇文章末尾的「接下來看什麼」都登記在案，到期照實標示，沒發生的也列。Checkpoints: 1581 logged, 0 resolved.

議題地圖Topic map

更新 09/20Updated 09-20

半導體Semiconductors and Chips

48 篇（專題 16）48 pieces (16 features)

雍智科技切入TPU帶動產能擴增 50%，精測 2027 年獲利預期落差達 4MPI Expands Capacity 50% on TPU Push as Consensus on CHPT's

更新 09/20Updated 09-20

記憶體Memory Chips and Storage

33 篇（專題 13）33 pieces (13 features)

長鑫存儲傳建NAND研發線跨足快閃記憶體，車企入股供應商打破動力電池CXMT Reportedly Builds NAND R&D Line to Enter Flash Memory;

更新 09/20Updated 09-20

美股與科技巨頭US Stocks and Big Tech

12 篇（專題 0）12 pieces (0 features)

科技五巨頭 2027 年發債規模上看 4200 億美元，甲骨文 180 億美元ABig Tech 2027 Debt Issuance Seen at $420B as Oracle Discount

更新 09/20Updated 09-20

央行與利率Central Banks and Rates

12 篇（專題 0）12 pieces (0 features)

Fed升息定價升溫：10 月再升機率跳至 55.4% 法國公債利差逼近 1Fed Rate-Hike Pricing Heats Up: Odds of October Move Jump to

更新 09/20Updated 09-20

地緣與衝突Geopolitics and Global Conflicts

12 篇（專題 0）12 pieces (0 features)

美格丹三方預計下週聯大簽署防務協議丹麥與格陵蘭重申主權底線未移交US, Greenland, and Denmark Set to Sign Defense Pact at UNGA

更新 09/20Updated 09-20

中國與亞洲市場China and Asian Markets

12 篇（專題 0）12 pieces (0 features)

長鑫存儲傳建NAND研發線跨足快閃記憶體，車企入股供應商打破動力電池CXMT Reportedly Builds NAND R&D Line to Enter Flash Memory;

更新 09/20Updated 09-20

美伊戰事與中東衝突Middle East Conflict and Tensions

11 篇（專題 0）11 pieces (0 features)

五角大廈通報美伊戰費突破 451 億美元葉門飛彈首度逼近沙國首都利雅德Pentagon Reports U.S.-Iran War Costs Top $45.1B as Yemeni Mi

更新 09/20Updated 09-20

美國政局US Politics and Policy

11 篇（專題 0）11 pieces (0 features)

美中 9 月 24 日峰會前夕貝森特與何立峰先啟對談，國會促守 140 億美元對Bessent and He Lifeng Open Talks Ahead of Sept. 24 U.S.-Chin

更新 09/20Updated 09-20

兩岸與中國政局Cross-Strait and China Politics

11 篇（專題 0）11 pieces (0 features)

何立峰赴美磋商 300 億美元降稅，美祭俄油次級關稅最高 100%He Lifeng Heads to US for $30 Billion Tariff Talks; Washingt

更新 09/20Updated 09-20

台灣政局與國會Taiwan Politics and Legislature

11 篇（專題 0）11 pieces (0 features)

明年度國防預算首度突破 1.12 兆元　全社會防衛論壇聚焦海空供應鏈與通Taiwan’s Defense Budget Tops NT$1.12 Trillion for First Time

更新 09/20Updated 09-20

外交與國際參與Foreign Policy and Diplomacy

11 篇（專題 0）11 pieces (0 features)

世界災害管理聯盟 11 友邦與索馬利蘭成創始會員英國國會訪團商議ETPWorld Alliance for Disaster Management Launches with 11 Alli

更新 09/20Updated 09-20

匯率與資金流Currencies and Capital Flows

10 篇（專題 0）10 pieces (0 features)

一家研究機構近 70 億美元私募信貸基金申請贖回達 11.4% 觸發 5%上一家研究機構's Nearly $7 Billion Private Credit Fund Sees Redempti

更新 09/20Updated 09-20

對等關稅與貿易報復Tariffs and Trade Retaliation

10 篇（專題 0）10 pieces (0 features)

美中磋商互降 300 億美元關稅，川普簽署葛蘭姆法案擴大次級制裁權限U.S. and China Weigh Mutual $30B Tariff Cuts as Trump Signs

更新 09/20Updated 09-20

九合一選舉與政黨Local Elections and Parties

10 篇（專題 0）10 pieces (0 features)

藍白嘉義雲林聯手辦逾 100 場客廳會綠營集結雙北高雄推 1,000 億撥補政見KMT and TPP Hold Over 100 Parlor Meetings in Chiayi and Yunl

更新 09/20Updated 09-20

半導體業Semiconductors

9 篇（專題 0）9 pieces (0 features)

雍智科技切入TPU帶動產能擴增 50%，精測 2027 年獲利預期落差達 4MPI Expands Capacity 50% on TPU Push as Consensus on CHPT's

更新 09/20Updated 09-20

國防與軍事安全Defense and Military Security

9 篇（專題 0）9 pieces (0 features)

140 億美元對台軍售待准與近 100 家台廠合作的安杜里爾創辦人直指進度受With $14B in Taiwan Arms Sales Awaiting Sign-off, Anduril Fo

更新 09/20Updated 09-20

關稅與貿易政策Tariffs and Trade Policy

6 篇（專題 0）6 pieces (0 features)

美國務院批准 27 億美元烏克蘭軍售案綁定礦產基金與歐洲出資State Department Approves $2.7 Billion Ukraine Arms Sale Tie

更新 09/20Updated 09-20

市場在傳什麼市場在傳什麼

5 篇（專題 0）5 pieces (0 features)

台積電傳擴大光罩尺寸面板數據解析Dashboard Data Analysis on Rumors of Expanded TSMC Photomask

更新 09/19Updated 09-19

AI 伺服器AI Server Hardware

14 篇（專題 4）14 pieces (4 features)

工研院發表 3.2T矽光子引擎緯創示警資料中心反對聲浪ITRI Unveils 3.2T Silicon Photonics Engine as Wistron Warns

更新 09/19Updated 09-19

AI 伺服器與散熱AI Servers and Cooling

10 篇（專題 0）10 pieces (0 features)

工研院發表 3.2T矽光子引擎緯創示警資料中心反對聲浪ITRI Unveils 3.2T Silicon Photonics Engine as Wistron Warns

更新 09/19Updated 09-19

PCB 銅箔基板與材料PCB and Copper Clad Laminate

9 篇（專題 0）9 pieces (0 features)

YAMAC Slides to Test NT$200 Level After Two-Day Surge; Zhen

更新 09/19Updated 09-19

俄烏戰事與歐洲安全Russia-Ukraine War and Europe

9 篇（專題 0）9 pieces (0 features)

俄接管雀巢等 4 家西方企業在俄資產烏克蘭攜手喀爾巴阡 8 國建防衛基石Russia Seizes Russian Assets of Nestle and Three French Comp

更新 09/19Updated 09-19

各國政局與領導人Global Politics and Leaders

9 篇（專題 0）9 pieces (0 features)

美伊衝突推升燃料價格：法國擬召開G7 能源會議討論動用戰略儲備US-Iran Conflict Lifts Fuel Costs: France Plans G7 Energy Me

更新 09/19Updated 09-19

電腦及週邊設備業Computers & Peripherals

7 篇（專題 0）7 pieces (0 features)

威強電展示 NANO-X100 機器人單板電腦邊緣專案面臨缺料成本IEI Integration Showcases NANO-X100 Single-Board Computer fo

更新 09/19Updated 09-19

生技醫療業Biotech & Medical

6 篇（專題 0）6 pieces (0 features)

台康生技入選經濟部A+計畫開發皮下注射製劑聚陽結盟宏達電跨足智慧穿EirGenix Tapped for MOEA A+ Project on Subcutaneous Delivery

更新 09/19Updated 09-19

台海與亞太地緣台海與亞太地緣

3 篇（專題 0）3 pieces (0 features)

南韓表態不派兵中東維持護航底線，北韓重申核武地位拒絕去核倡議South Korea Rules Out Middle East Troop Deployment, Caps Mis

更新 09/19Updated 09-19

蘋果與消費電子蘋果與消費電子

3 篇（專題 0）3 pieces (0 features)

遠傳 5G滲透率破 50%與高階新機預期增 2 成電信三雄調整補貼迎首款摺Far EasTone 5G Penetration Tops 50% on Premium iPhone Demand

更新 09/18Updated 09-18

光通訊與 CPOOptical Communications and CPO

9 篇（專題 3）9 pieces (3 features)

光焱科技矽光子營收比重升至 17.2％封測檢驗與載板材料接棒CPO供Enlitech Silicon Photonics Revenue Share Rises to 17.2% as O

更新 09/18Updated 09-18

半導體製造與封測Foundry and OSAT Packaging

8 篇（專題 0）8 pieces (0 features)

央行估經濟成長達 11.48%，台積電迎Meta逾 1GW自研晶片與英特Central Bank Lifts Growth Forecast to 11.48% as TSMC Welcome

更新 09/18Updated 09-18

台股大盤Taiwan Stock Market

8 篇（專題 0）8 pieces (0 features)

加權指數早盤突破 47000 點預估量破兆元台積電聯發科引領權值股開高TAIEX Tops 47,000 Early as Projected Turnover Exceeds NT$1 T

更新 09/18Updated 09-18

被動元件與連接器Passive Components and Connectors

7 篇（專題 1）7 pieces (1 features)

國巨BB值衝上 2.2 與貿聯單櫃產值翻倍背後是AI高功耗對零組件的強Yageo Book-to-Bill Hits 2.2 and BizLink Rack Value Doubles a

更新 09/18Updated 09-18

電子零組件業Electronic Components

7 篇（專題 0）7 pieces (0 features)

松川精密前 8 月營收增至 59.75 億元，偉訓推進子公司AIP於 2028Song Chuan Precision 8-Month Revenue Rises to NT$5.98B; Comp

更新 09/18Updated 09-18

原物料與能源Commodities and Energy

6 篇（專題 0）6 pieces (0 features)

沙國尋求恢復東西輸油管半數運能布蘭特原油跌至 104.82 美元Saudi Arabia Seeks to Restore Half of East-West Pipeline Cap

更新 09/18Updated 09-18

建材營造Building & Construction

6 篇（專題 0）6 pieces (0 features)

央行調升第 2 戶房貸成數至 7 成並解除購地動工限期營建指數漲逾 2%挑戰Central Bank Raises Loan-to-Value Cap on Second Homes to 70%

更新 09/18Updated 09-18

通信網路業Communications & Networking

6 篇（專題 0）6 pieces (0 features)

公平會受理台灣大收購精誠案換股加現金換算溢價 38%Fair Trade Commission Accepts Taiwan Mobile Tender Offer for

更新 09/18Updated 09-18

個股焦點：台積電Stock Spotlight: TSMC

5 篇（專題 0）5 pieces (0 features)

央行上修全年經濟成長至 11.48%，台積電 8 月累計營收達 3.38 兆元Central Bank Lifts Full-Year GDP Forecast to 11.48%; TSMC 8-

更新 09/18Updated 09-18

PCB 與載板PCB 與載板

2 篇（專題 2）2 pieces (2 features)

CPO降規恐慌遭過度定價，載板與高階CCL實質缺口未解CPO Downgrade Panic Overpriced as Core Substrate, High-End C

更新 09/18Updated 09-18

司法與政治案件司法與政治案件

2 篇（專題 0）2 pieces (0 features)

國安掌握 15 名統促黨關係人參選基層公職九合一地方選舉涉外涉賄防線面National Security Identifies 15 CUPP Affiliates Running in G

更新 09/17Updated 09-17

科技巨頭與美股Big Tech and US Equities

8 篇（專題 8）8 pieces (8 features)

成本膨脹與規格溢價夾擊，iPhone 18 供應鏈利潤分配生變Cost Inflation and Spec Premiums Squeeze iPhone 18 Supply Ch

更新 09/17Updated 09-17

航運業Shipping & Transport

5 篇（專題 0）5 pieces (0 features)

華航載客率站上 85%且貨機達 18 架航空雙引擎迎亞太貨運 5.6%成長China Airlines Passenger Load Factor Tops 85% with 18 Freigh

更新 09/17Updated 09-17

紅海與荷姆茲航道衝突Red Sea and Hormuz Shipping

5 篇（專題 0）5 pieces (0 features)

美墨運亞洲油輪運費單日跳增 580 萬美元葉門掌控曼德海峽考驗多國安全US Gulf-to-Asia Tanker Rates Jump $5.8M in Single Day as Hou

更新 09/17Updated 09-17

化學生技醫療Chemicals & Biotech

4 篇（專題 0）4 pieces (0 features)

國光生法說揭露代工比重達 67% 杏輝前 8 月營收 22.9 億推進東協Adimmune Discloses Contract Manufacturing at 67% of Revenue;

更新 09/17Updated 09-17

食品工業Food

3 篇（專題 0）3 pieces (0 features)

中聯油脂致癌物超標引發求償福壽啟動精算商譽與退貨損失Central Union Oil Carcinogen Breach Triggers Claims as Fwuso

更新 09/17Updated 09-17

個股焦點：台達電個股焦點：台達電

3 篇（專題 0）3 pieces (0 features)

台達電AI伺服器電源市占達 70%，高壓架構確立 2027 年機櫃占比 7.Delta Secures 70% Share in AI Server Power; High-Voltage Arc

更新 09/17Updated 09-17

個股焦點：鴻海Stock Spotlight: Foxconn

3 篇（專題 0）3 pieces (0 features)

鴻騰揭光通訊產能滿載至明年但晶圓與雷射上游缺料成推進阻礙FIT Hon Teng Sees Optical Transceiver Lines Full into 2025 a

更新 09/16Updated 09-16

總經與利率Macroeconomics and Interest Rates

9 篇（專題 9）9 pieces (9 features)

壽險評價利益與銀行利差拉扯：4 大金控獲利結構分化Life Insurance Gains Clash With Bank Margins: Four Major Fin

更新 09/16Updated 09-16

台股盤面與籌碼Taiwan Equities and Institutional Flows

4 篇（專題 4）4 pieces (4 features)

美債破 5%與油價破百：台股評價脫鉤的極限測試Treasury Yields Top 5% as Oil Surpasses $100: A Stress Test

更新 09/16Updated 09-16

金融保險Finance & Insurance

4 篇（專題 0）4 pieces (0 features)

13 家金控前 8 月自結獲利達 5789 億元創歷史新高資本利得主導下半年13 Financial Holdings Post Record 8-Month Profit of NT$578.9

更新 09/16Updated 09-16

電源與功率元件Power Supplies and Power Discretes

3 篇（專題 3）3 pieces (3 features)

台達電 8 月營收月減 3.7%背後的MOSFET缺料與高壓直流時程差Behind Delta Electronics' 3.7% August Revenue Dip: MOSFET Sh

更新 09/16Updated 09-16

化學工業Chemicals

3 篇（專題 0）3 pieces (0 features)

材料-KY額定資本額倍增至 20 億元永虹先進重挫逾 6 成暫停交易Materials Analysis Technology Doubles Authorized Capital to

更新 09/16Updated 09-16

鋼鐵工業Iron & Steel

3 篇（專題 0）3 pieces (0 features)

中鴻 10 月內銷盤價每公噸最高調漲 800 元，財政部拍板中韓電磁鋼品反傾Chung Hung Raises Domestic Prices by up to NT$800 per Ton fo

更新 09/15Updated 09-15

運動休閒Sports & Leisure

3 篇（專題 0）3 pieces (0 features)

運動休閒供應鏈調整延續：豐泰受主要客戶去化拖累，美利達獲利預估下修至Sports and Leisure Supply Chain Readjustment Persists: Feng

更新 09/15Updated 09-15

居家生活Home & Living

2 篇（專題 0）2 pieces (0 features)

實體通路攻防：全家推聯名卡拚 10 萬張發卡量，寶雅前 8 月累計營收達 18Brick-and-Mortar Retailers Dig In: FamilyMart Aims for 100,0

更新 09/15Updated 09-15

數位雲端Digital & Cloud

2 篇（專題 0）2 pieces (0 features)

大盤失守 322 點之際黃仁勳演說點火，安碁資訊 8 月營收 2.2 億元撐起資Jensen Huang Speech Rekindles Cybersecurity Plays Amid 322-P

更新 09/13Updated 09-13

光電業Optoelectronics

4 篇（專題 1）4 pieces (1 features)

光寶科毛利率跨過 27%：AI電源櫃重構獲利下限Lite-On Margin Crosses 27%: AI Power Shelves Reset Earnings

更新 09/13Updated 09-13

貴金屬與原物料Precious Metals and Materials

3 篇（專題 3）3 pieces (3 features)

百元油價重估全球長債折現率Hundred-Dollar Oil Reprices Global Long-End Discount Rates

更新 09/12Updated 09-12

選舉與政局Elections and Political News

4 篇（專題 0）4 pieces (0 features)

韓美 3500 億美元投資啟動首案協商，立陶宛推動修憲解禁核武遭俄方反制South Korea Opens Talks on First Projects Under $350 Billion

更新 09/12Updated 09-12

個股焦點：東捷Stock Spotlight: Contrel

2 篇（專題 0）2 pieces (0 features)

東捷隨FOPLP族群同步走弱，7 月營收年減逾 4 成加深基本面驗證壓力Contrel Weakens Alongside FOPLP Peers as July Revenue Plunge

更新 09/11Updated 09-11

電子通路業Electronics Distribution

2 篇（專題 0）2 pieces (0 features)

電子通路 8 月營收普遍呈高年增大聯大達 1422 億、茂綸與方土昶月增走Electronic Component Distributors Post High Year-on-Year Gro

更新 09/11Updated 09-11

電機機械Electric Machinery

2 篇（專題 0）2 pieces (0 features)

電機族群在手訂單能見度拉長至 2030 年，重電與自動化設備 8 月營收強弱Machinery Sector Order Backlogs Extend to 2030 as Heavy Elec

更新 09/11Updated 09-11

紡織纖維Textiles

2 篇（專題 0）2 pieces (0 features)

成衣廠受船期與高基期干擾 8 月營收波動，織布廠佳和單月營收年增逾倍Shipping Schedules and High Baselines Dent August Apparel Sa

更新 09/11Updated 09-11

個股焦點：國巨Stock Spotlight: Yageo

2 篇（專題 0）2 pieces (0 features)

村田啟動MLCC舊料號停產國巨迎常規品轉單效益與全年營收預估考驗Murata Phases Out Legacy MLCCs; Yageo Faces Commodity Produc

更新 09/11Updated 09-11

文化創意業Culture & Creative

2 篇（專題 0）2 pieces (0 features)

文化創意業 8 月營收分歧：智崴年增逾 2 倍突破 3 億，智冠受惠暑期穩健創雙August Revenues Diverge in Cultural and Creative Sector: Bro

更新 09/11Updated 09-11

個股焦點：聯發科Stock Spotlight: MediaTek

2 篇（專題 0）2 pieces (0 features)

聯發科 8 月營收 641.83 億元創歷史新高 ASIC專案預計第 4 季放量MediaTek Posts Record August Revenue of NT$64.18 Billion; AS

更新 09/10Updated 09-10

鋼鐵與金屬Steel and Industrial Metals

2 篇（專題 2）2 pieces (2 features)

中鋼第 4 季盤價每噸漲 600 元：熱軋利差仍受制於中國出口China Steel Hikes 4Q Prices by NT$600/Ton: Hot-Rolled Spread

更新 09/10Updated 09-10

記憶體超級循環記憶體超級循環

2 篇（專題 2）2 pieces (2 features)

3 大原廠排擠讓出漲價主導權台廠合約價暴漲推升毛利率突破 80%Top Three Suppliers Cede Pricing Power in Legacy Squeeze; Ta

更新 09/10Updated 09-10

矽晶圓Silicon Wafers

2 篇（專題 2）2 pieces (2 features)

矽晶圓擴產折舊壓頂與長約換約漲價的角力Silicon Wafers Face Tug-of-War Between Heavy Depreciation an

更新 09/03Updated 09-03

台灣外銷訂單台灣外銷訂單

2 篇（專題 2）2 pieces (2 features)

外銷訂單創下 979 億美元背後：電子業真實補庫存與終端斷層Behind Taiwan's $97.9 Billion Export Orders: Selective Resto

每個議題一頁：現況、本刊立場的變動時間軸、觀察條件與結果、相關個股與詞彙。One page per topic: status, how our view moved, checkpoints and outcomes, related stocks and terms.