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2026-07-27 周末环球资产日报

  • 报告类型:周末环球资产日报
  • 报告时间:2026-07-27 20:32 Asia/Shanghai(市场与新闻截止;Crypto 公开快照 09:09)
  • 覆盖窗口:美国上周五收盘后至本次北京时间采集时点;已进入当日常规交易的韩国、A股或美股同步纳入盘面
  • 数据范围:Binance public futures、Crypto ETF flow、公开新闻/事件、Jin10 facts-only radar、article archive。
  • 排除范围:IBKR 股票持仓/成本/PnL、期权链/大单、国债/T-Bill。

组合总览

分区核心事实口径
公开市场BTCUSDT 65,122.90 / +1.05%ETHUSDT 1,945.69 / +3.61%SOLUSDT 76.36 / +2.21%Binance USDS-M Futures 24h 快照

本区只展示已落盘事实,不生成市场判断或操作建议。

今日总览

核心判断

优先级相对上一期变化判断组合含义触发 / 失效证据
1海湾风险溢价显著回落,但安全事件仍在发生布伦特与 WTI 晚间跌幅均接近 7%,亚洲、欧洲和美股盘前能源股同步承压;美伊暂停互击尚未形成正式停火,沙特仍拦截指向石油设施的无人机能源盈利预期面临下修压力,航空等燃油成本敏感资产获得二阶支持;暂不把单日油价下跌外推为持久供给恢复油价曲线、港口装运与设施运行继续改善则确认;新一轮袭击、航道受阻或正式停火破裂则失效Jin10 沙特拦截AP 海湾局势
2大型科技估值门槛由收入增速转向资本效率Alphabet 上调资本开支并录得自由现金流转负后股价承压,亚洲半导体收盘和美股盘前上涨说明需求 beta 尚在,但还没有形成美国常规盘与公司订单确认财报窗口应优先核对资本开支、AI / 云收入、自由现金流和利润率的同步关系;半导体反弹先列观察,不追逐盘前价格META、MSFT、AAPL、AMZN 的业绩与指引共同改善则升级;资本开支继续抬升而现金流或利润率走弱则降级Fortune 财报前瞻Meta 官方日程
3A 股与韩国科技风险偏好得到收盘确认沪深两市上涨家数 5,195 家、成交 2.0886 万亿元;KOSDAQ 涨 2.22%,韩国半导体与设备板块涨 2.29%亚洲科技交易具备市场宽度,但长鑫科技上市首日成交约占 A 股总成交 6.8%,需剔除单股扰动再判断持续性后续成交与多数科技股继续扩散则确认;成交回落且上涨集中到少数新股或权重股则失效中国金融信息网收盘Jin10 A 股收盘
4中国工业利润回升仍伴随结构分化上半年规上工业利润同比增 18.7%,电子行业增 96.9%;汽车、电气机械、非金属矿物利润仍为负增长,6 月利润增速低于 5 月宏观盈利改善对科技制造支持较强,传统制造与营运资金压力仍需单独核验,不能用总量增长覆盖行业差异应收、库存周转改善并伴随汽车等行业利润转正则升级;利润增速继续回落或回款恶化则降级国家统计局
5利率与盈利进入同一高波动窗口FOMC、英国央行、美国二季度 GDP 与大型科技财报集中在未来三天控制事件前新增风险预算,先等政策路径、增长数据和公司资本效率给出一致方向利率预期与盈利指引同向改善则转进攻观察;两者背离则维持低追价意愿美联储 7 月日程英国央行 7 月会议

今日动作

标的 / 风险预算当前动作升级条件降级 / 失效条件
原油与能源股等待油价曲线、设施运行和美国常规盘确认,不依据单日跌幅追空正式停火、装运恢复、近远月同步下行且能源盈利预期下修新袭击、航运中断、设施受损或油价快速收复跌幅
大型科技与半导体把 MSFT、META、AAPL、AMZN 财报列为再定价验证点;亚洲半导体反弹先观察AI / 云收入、自由现金流、利润率与资本开支形成正向组合资本开支继续上修而现金流、回报率或客户订单转弱
A 股科技观察剔除长鑫科技后的成交扩散,不按上市首日成交热度加速配置后续成交维持高位、上涨家数占优且科技行业扩散成交缩量、涨势集中或广度快速逆转
Crypto 公共市场价格反弹与 ETF 净流出背离,维持验证状态;优先监控 ETF 流量、资金费率和项目安全通报ETF 连续转净流入且价格、OI 与现货成交共同改善ETF 继续净流出、资金费率拥挤或安全事件外溢

跨资产主线

今天的价格线索由“海湾风险溢价压缩”和“亚洲科技风险偏好回升”共同驱动。前者反映在原油、韩国油气与国防、欧洲能源以及美国能源股盘前的同向下跌;后者反映在 A 股广度、韩国半导体和美股存储链盘前上涨。两条主线都缺一块关键证据:海湾尚无正式停火与完整运营确认,美股尚无常规盘成交和收盘。

未来三天的验证顺序是政策利率、增长数据、再到大型科技资本效率。若油价继续回落、央行没有额外鹰派冲击、科技公司同时交出收入与现金流改善,风险偏好可以从亚洲扩展到美国;若通胀或利率重新抬头,而资本开支继续吞噬现金流,当前科技反弹会转为估值再压缩。

全市场快讯

类别时间事实与关键数字影响资产市场含义与证据边界来源
地缘 / 能源20:25 CST 前后布伦特 86.87 美元、跌 6.76%;WTI 83.026 美元、跌 6.913%原油、能源股、航空、通胀交易风险溢价明显回落;报价未提供合约月份、交易所与延迟Jin10 行情
地缘 / 能源20:10 CST沙特称拦截一架从伊拉克方向飞来、目标为石油设施的无人机原油、沙特能源设施、航运说明降温仍脆弱;缺少设施受损事实Jin10
地缘 / 航运当日美伊连续两夜暂停互击,但没有正式停火;红海与曼德海峡威胁仍在原油、航运、保险、航空只能确认局部降温,不能确认航道与供给风险解除AP
A 股15:00 CST 后上证 +1.15%、深证 +2.72%、创业板 +3.16%;上涨 5,195 家、下跌 286 家中国股票、科技制造收盘广度强;长鑫科技首日成交造成显著单股扰动中国金融信息网
韩国股市15:32 KSTKOSPI +0.97%、KOSDAQ +2.22%;半导体设备 +2.29%,油气 -4.90%,国防 -8.77%亚洲科技、能源、国防已收盘确认行业分化;韩国总成交缺少前值比较Naver Finance
美股盘前08:04 ETSKHY、MU、SNDK、STX 盘前上涨,CVX、XOM、COP 下跌存储、半导体、能源与亚洲科技和油价方向一致;常规盘尚未开始Jin10
中国宏观10:00 CST上半年规上工业利润 3.94799 万亿元,同比增 18.7%;6 月增 15.1%中国制造、电子、汽车总量改善但行业分化,且 6 月增速低于 5 月国家统计局
欧洲宏观当日德国 IFO 商业景气指数 86.6,高于 86.0 的市场预期与 85.7 的前值欧元、欧洲股票、欧洲利率单项调查改善;需要订单、产出和通胀数据继续确认IFO Institute
贵金属20:26 CST 前后现货黄金 4,085.89 美元、涨 0.80%;白银 58.855 美元、涨 1.143%黄金、白银、实际利率交易与油价下跌并存,显示避险需求未完全消退;行情源缺少延迟说明Jin10 行情
Crypto ETF最新完整日 7 月 24 日BTC ETF 净流出 2.401 亿美元,ETH 流出 0.707 亿美元,SOL 为 0,HYPE 流出 0.069 亿美元BTC、ETH、SOL、HYPE与早间价格上涨形成背离;ETF 行为比报告截止早一个交易日Farside BTCETHSOLHYPE
Crypto 安全7 月 26 日 18:17 KSTWEMIX 披露 owner 权限受损并异常铸造 5,225,525 WEMIX$,部分资产跨链转移WEMIX、跨链与合约权限风险项目级重大事件;根因仍在调查,不能外推为主流交易所系统故障WEMIX 官方公告Coinbase 状态页

宏观

主题最新事实市场影响后续验证来源
中国工业利润上半年规上工业利润同比增 18.7%,制造业增 20.1%、采矿业增 33.5%;电子行业增 96.9%,汽车降 19.5%、电气机械降 8.6%、非金属矿物降 47.8%盈利改善集中在电子等行业,传统制造的收入与现金周转压力仍在关注 7 月利润、应收账款、库存与周转天数,以及汽车和电气机械能否止跌国家统计局
德国企业景气7 月 IFO 为 86.6,略好于预期和前值对欧元和欧洲周期股构成温和支持,证据强度低于硬数据工业订单、制造业产出与通胀是否同步改善IFO Institute
央行窗口FOMC 将于 7 月 29 日发布声明并举行记者会;英国央行 7 月 30 日公布决议利率、美元和成长股估值将在短时间内同时接受重定价政策措辞、点阵之外的增长通胀权衡,以及市场隐含利率路径Federal ReserveBank of England

地缘与政策

主题最新事实影响链条后续验证来源
美伊与海湾安全连续两夜暂停互击,但没有正式停火;沙特同日仍称拦截目标为石油设施的无人机安全事件 → 设施与航道风险 → 原油和运费 → 通胀与能源股盈利正式停火文件、设施损失、曼德海峡与霍尔木兹通航、保险和运费APJin10
黑海供给市场消息称 CPC 黑海码头预计恢复装载,消息来自匿名人士装运恢复预期 → 原油供给担忧缓解 → 风险溢价下降CPC 官方装载计划、实际船期与出口量Jin10
美以会晤AP 报道特朗普与内塔尼亚胡拟于 7 月 28 日会面,具体时间未确认外交信号 → 中东停火预期 → 能源与防务风险溢价白宫或以色列官方日程、会后声明AP

Crypto 市场风险

早间公开快照中,BTC 报 65,122.9 美元、24 小时涨 1.05%,ETH 报 1,945.69 美元、涨 3.61%,SOL 报 76.36 美元、涨 2.21%。BTC 永续资金费率为 0.005829%,ETH 与 SOL 均为 0.01%;未平仓量分别为 104,140.719 BTC、2,372,861.27 ETH 和 8,610,509.83 SOL。该快照比晚间研究截止早约 11 小时,只能描述早间状态。

价格上涨没有得到 ETF 资金流配合:Farside 7 月 24 日完整行显示 BTC 与 ETH ETF 分别净流出 2.401 亿和 0.707 亿美元。验证条件是后续 ETF 转为连续净流入、现货成交增加且 OI 没有以更快速度堆积;若流出持续、资金费率进一步拥挤或价格回吐,早间反弹判断失效。

WEMIX 官方披露 owner 权限受损并异常铸造 5,225,525 WEMIX$,随后发生兑换与跨链转移。事件仍缺根因与完整资金追踪,影响先限定为 WEMIX 合约权限和跨链安全;Coinbase 主要服务状态页未显示 BTC、ETH、SOL 的广泛故障。

当日已开盘市场盘面

韩国股市收盘

KOSPI 收于 6,755.75 点,涨 0.97%;KOSDAQ 收于 764.86 点,涨 2.22%。两市合计上涨 1,504 家、下跌 1,000 家、平盘 146 家,成交约 27.91 万亿韩元。半导体与设备板块涨 2.29%,三星电子涨 1.80%、SK 海力士涨 3.24%;互联网与目录零售涨 7.42%。油气跌 4.90%,航空航天与国防跌 8.77%,与油价风险溢价回落方向一致。韩国成交额缺少可比前值,因此只能确认当日绝对活跃度,不能判断是否放量。

A 股收盘

上证综指收于 3,858.25 点、涨 1.15%,深证成指收于 14,148.73 点、涨 2.72%,创业板指收于 3,590.79 点、涨 3.16%。沪深两市成交约 2.0886 万亿元,较上一交易日增加约 1,442 亿元,增幅约 7.42%;上涨 5,195 家、下跌 286 家。玻纤、PCB 和存储方向领先,保险与油气落后。

长鑫科技 688825 上市首日收于 49.00 元,较发行价涨 465.82%,成交约 1,412 亿元,约占全市场成交的 6.8%。指数、广度和总成交共同确认风险偏好回升,但科技成交持续性应剔除该单股贡献后再验证。

美股盘前新闻雷达

美股截至 08:32 ET 仍处常规盘前。存储与半导体链中,SKHY 约涨 6%、SNDK 约涨 5%、STX 约涨 3.9%、MU 约涨 3.6%,NVDA、INTC、AVGO 也上涨;能源股 CVX、XOM、COP 分别约跌 2.7%、2.9%、3.2%。这些价格与韩国半导体收涨、原油下跌相互印证,但没有常规盘成交、广度和收盘支持。

财报侧应区分收入增长与资本回报。媒体汇总显示 Alphabet 将 2026 年资本开支上调至最高 2,050 亿美元,云收入同比增 82%,第二季度自由现金流转负,股价随后跌逾 7%;GOOGL、MSFT、AMZN、META 的 2026 年资本开支估算合计约 7,240 亿美元,2027 年近 9,500 亿美元,后一个数字属于分析师预测。MSFT 与 META 预计周三公布业绩,AAPL 与 AMZN 预计周四公布;本批次只有 Meta 的具体电话会时间得到公司官方页面确认。

验证清单包括:资本开支增速能否被 AI / 云收入覆盖,自由现金流与利润率是否同步改善,半导体订单、库存、ASP 与利用率是否得到公司指引确认。若收入与现金流同步改善,亚洲半导体反弹可获得基本面支持;若资本消耗继续上升而客户回报或订单走弱,估值压力会从平台公司传到供应链。

大宗商品与外汇

晚间 Jin10 行情显示布伦特 86.87 美元、WTI 83.026 美元,分别跌 6.76% 和 6.913%;现货黄金 4,085.89 美元、涨 0.80%,白银 58.855 美元、涨 1.143%。上海黄金 T+D 涨 1.47%,白银 T+D 涨 3.31%。油价与贵金属方向分化,说明供给风险溢价回落的同时,政策与地缘避险需求仍在。

外汇方面,USD/JPY 报 163.650、跌 0.123%,EUR/USD 报 1.13830、涨 0.119%,USD/CNH 报 6.76689、跌 0.052%。变动幅度有限,尚不足以确认美元趋势反转。后续以 FOMC、美国 GDP 和英国央行决议作为利率与汇率的共同触发;Jin10 报价没有提供合约月份、交易所或完整延迟信息,不能替代可执行行情。

重要日历

北京时间事件当前姿态重点验证失效 / 调整条件来源
7 月 28 日,具体时间待定特朗普与内塔尼亚胡拟会面等待,不提前交易外交标题是否形成正式停火、航道与设施安全安排官方日程取消,或会后没有可执行安排AP
7 月 30 日 02:00,02:30 记者会FOMC 声明与鲍威尔记者会事件前控制新增风险预算利率路径、通胀判断、增长与资产负债表措辞措辞与市场定价差异很小,则事件风险快速衰减Federal Reserve
7 月 30 日 04:30Meta 第二季度业绩电话会等待业绩,不按盘前 beta 追价资本开支、AI 收入、广告增长、FCF 与利润率收入和现金流同步改善则转进攻观察;资本开支升而回报弱则再评估Meta IR
7 月 30 日 19:00英国央行利率决议等待政策确认通胀、工资、增长判断与后续加息路径决议完全符合定价且指引中性,则降低事件权重Bank of England
7 月 30 日 20:30美国二季度 GDP 初值、6 月个人收入与支出等待增长与通胀组合实际增长、消费、价格指标及对利率预期的联动数据接近预期且市场反应有限,则不形成可交易设置BEA Schedule

Crypto 事实

Binance 合约市场结构

合约价格24h涨跌FundingOI更新时间
BTCUSDT65,122.90+1.05%0.00583% / 8h104,140.722026-07-27 01:09:20.370Z
ETHUSDT1,945.69+3.61%0.01000% / 8h2,372,861.272026-07-27 01:09:18.885Z
SOLUSDT76.36+2.21%0.01000% / 8h8,610,509.832026-07-27 01:09:19.027Z

本地文章库

重要性中文标题原文标题发布日期来源状态评级理由
5/5 高伊朗战事外溢至红海与里海Iran war spreads to Red Sea and Caspian, Gulf quiet as US forgoes strikes2026-07-25Reuters via MarketScreener已入库报道时效强,直接触及霍尔木兹与红海两条能源运输路径,并包含沙特石油设施、美国军事行动和也门战线的密集事实;路透社现场核验增强可信度,但关键损坏与政策动因仍待官方确认。
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打开原文

伊朗战事外溢至红海与里海

重要性5/5 高

报道时效强,直接触及霍尔木兹与红海两条能源运输路径,并包含沙特石油设施、美国军事行动和也门战线的密集事实;路透社现场核验增强可信度,但关键损坏与政策动因仍待官方确认。

中文摘要

核心结论

美国暂停连续升级的对伊朗空袭后,波斯湾周末暂时降温,但冲突已沿红海和里海扩散。胡塞武装袭击沙特石油设施,使绕开霍尔木兹海峡的延布出口通道也面临风险;美国海上封锁仍在执行,局势尚未进入稳定停火阶段。

重要性评级

评级:5/5(高)

路透社报道发布于美东时间 07/25 19:14(UTC+8 07/26 07:14),紧邻当日日报窗口,直接涉及原油供应、两条关键航运通道及沙特阿美。现场视频、政府声明与多方信源提供了较高事实密度,但部分设施损坏和美国暂停空袭的原因仍缺少官方完整确认。

关键事实

  • 美国军方表示,对伊朗的海上封锁仍“全面生效”,但没有解释为何暂停此前连续13个夜晚逐步升级的空袭。美国国防部信源称行动处于暂停状态。
  • 《纽约时报》援引两名知情人士称,特朗普暂时放弃扩大袭击;报道列出的顾虑包括冲突升级、国防库存消耗、海湾盟友关系、能源供应和全球经济。
  • 一名美国官员向CNN(美国有线电视新闻网)表示,副总统JD·万斯和参谋长联席会议主席丹·凯恩在07/24(未给出具体时刻)的白宫会议上向特朗普提出弹药库存问题。
  • 胡塞武装发言人叶海亚·萨雷称,该组织在07/25(未给出具体时刻)袭击了沙特阿美位于吉赞和延布的设施。路透社核验的社交媒体视频显示,吉赞炼厂方向出现大量烟雾;该炼厂日处理能力最高为40万桶原油。
  • 两名亚洲交易界信源获悉,吉赞的燃料和石油储存设施可能受损。沙特阿美未回应置评请求,因此实际损坏范围仍未确认。
  • 两枚瞄准延布石油设施的导弹被拦截。延布是沙特主要红海石油港,也是霍尔木兹海峡遭伊朗封锁后重要的替代出口路径。
  • 也门获沙特支持的国际承认政府空军袭击了马里卜省和焦夫省的胡塞武装据点;当地官员称双方正在前线集结兵力。自2022年停火后基本冻结的也门内战本月再度升温。
  • 伊朗外交部指控乌克兰袭击里海的一艘伊朗商船,造成一名船员死亡、一人受伤,并召见乌克兰驻德黑兰临时代办。该指控来自伊朗官方渠道,报道未提供独立核验结果。

作者观点与证据

报道判断,波斯湾短暂平静掩盖了冲突地理范围的扩大:霍尔木兹海峡供应已经受扰,胡塞武装对延布和吉赞采取行动后,红海替代路线也暴露于军事风险。支撑这一判断的证据包括美国确认封锁继续、胡塞武装公开认领袭击、路透社核验的吉赞烟雾视频、延布导弹拦截,以及也门双方重新集结。

美国收缩空袭可能与弹药库存、盟友关系和能源冲击有关,但这部分主要来自《纽约时报》、CNN及匿名政府信源。伊朗对乌克兰的指控、吉赞储油设施受损程度和胡塞武装宣布的全部打击成果尚未获得充分独立验证。

与相关标的的关系

  • Brent(布伦特原油)与WTI(西得克萨斯中质原油):美国暂停空袭减轻了即时升级压力;霍尔木兹封锁延续、红海出口设施遇袭又维持供应与航运风险。两个方向同时存在,油价对新增军事和运输事实可能保持敏感。
  • Saudi Aramco(沙特阿美,2222.SE):吉赞炼厂与延布石油设施直接进入袭击范围。吉赞最高日处理能力40万桶,但文章没有确认停产规模、维修周期或实际出口损失。
  • S&P GSCI Crude Oil Index(标普高盛原油指数):页面数据显示指数约467.44点、跌4.50%,WTI约85.07美元、涨0.60%,沙特阿美报26.60沙特里亚尔、跌0.89%。这些是页面行情快照,不能单独证明冲突消息造成相应价格变化。

时效性与限制

文章抓取于美东时间 07/26 21:21(UTC+8 07/27 09:21)。报道描述的是周末局势,军事行动、封锁执行和设施运行状态可能迅速变化;沙特阿美尚未确认损坏情况,美国政府也未正式完整说明暂停空袭的原因。

后续跟踪

  • 吉赞炼厂和储存设施是否出现经沙特阿美确认的停产、减产或维修安排。
  • 延布港装运量、红海船舶流量及保险和运费是否发生持续变化。
  • 美国是否恢复空袭,以及海上封锁的实际执法范围和持续时间。
  • 也门前线集结是否演变为大规模地面冲突,伊朗及其地区盟友是否恢复对海湾邻国的攻击。
原文
Iran war spreads to Red Sea and Caspian, Gulf quiet as US forgoes strikes

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Iran war spreads to Red Sea and Caspian, Gulf quiet as US forgoes strikes

Published on 07/26/2026

at 09:14 am AEST - Modified on 07/26/2026

at 01:34 pm AEST

Reuters

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WASHINGTON/ATHENS, July 26 (Reuters) - The Iran war broadened over the weekend despite a pause in U.S. strikes, as Yemen's Iran-aligned Houthis attacked Saudi oil installations along the Red Sea coast and Iran accused Ukraine of targeting one of its vessels in the Caspian Sea.

The U.S. military said on Saturday its naval blockade against Iran "remains in full effect" but did not explain why it halted a streak of 13 nights of escalating strikes.

There were also no weekend reports of attacks by Iran on neighbors, similar to its daily rejoinders to the U.S. attacks.

Asked about the pause, a senior official in President Donald Trump's administration said Trump "has always been clear that his preference is diplomacy, but he has shown Iran what will happen if they fail to come to the table in a serious way."

Trump has decided, for now, to back away from plans to ramp up attacks on Iran, the New York Times said on Saturday, citing two people briefed on the discussion.

The president and his advisers, the newspaper said, have concerns about expanding the conflict, depleting defense stockpiles, alienating Middle East Gulf allies and affecting energy supplies and the global economy.

Vice President JD Vance and Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, both raised concerns about the U.S. munitions stockpile with Trump during a White House meeting on Friday, a U.S. official told CNN.

Operations are "on a hold," a Department of Defense source told the broadcaster on Saturday.

Despite the Gulf lull, Saturday's fighting between Iran's Houthi allies and Saudi Arabia showed that the war, which has already disrupted energy supplies through the Strait of Hormuz, could affect a second major shipping route and reignite Yemen's civil war.

Separately, Iran's Foreign Ministry accused Ukraine of attacking an Iranian commercial vessel in the Caspian Sea, saying one sailor was killed and another injured.

The ministry summoned Ukraine's chargé d'affaires in Tehran to protest over an attack it described as "hostile and criminal", state news agency IRNA said.

The Iranian denunciation coincided with comments by Ukrainian President Volodymyr Zelenskiy that Kyiv had noted Russia was passing on to Iran its satellite observations in the Middle East, to enable it to direct ?strikes in the region.

WAR THREATENS TO SPREAD TO YEMEN

Houthi military spokesperson Yahya Saree said the group struck sites belonging to Saudi state oil company Aramco in the cities of Jizan and Yanbu on Saturday.

A large column of smoke rose from the direction of the Aramco refinery in Jizan, near the Yemeni border, video on social media verified by Reuters showed. The refinery can process up to 400,000 barrels of crude oil daily.

Two Asia-based trading sources said they had been informed of potential damage to fuel and oil storage sites at Jizan. Aramco did not respond to requests for comment.

In Yanbu, two missiles aimed at oil installations were intercepted. Yanbu, Saudi Arabia's main Red Sea oil port, has become a key route for Saudi oil skirting the Strait of Hormuz, which Iran has blockaded.

SAUDI-LED COALITION STRIKES HODEIDAH

In Yemen, officials said the air force of the Saudi-backed, internationally recognised government, which has opposed the Houthis for more than a decade, struck Houthi sites in the Marib and al-Jawf provinces.

The officials said both sides in Yemen's civil war were mobilising forces along the front.

Saudi Arabia has led an Arab coalition battling the Houthis since the Iran-aligned fighters captured Yemen's capital, Sanaa.

The civil war, in which famine and fighting killed hundreds of thousands, has been paused by a ceasefire since 2022.

But that truce broke down this month, with the Houthis effectively joining the wider war their Iranian allies have waged since being attacked by the United States and Israel five months ago.

The Houthis have declared a naval blockade of Saudi Arabia over the past week, and Houthi leader Abdul Malik al-Houthi said all Saudi oil facilities could be targets.

(Reporting by Raphael Satter in Washington and Lefteris Papadimas in Athens; Writing by Raphael Satter and Kim Coghill; Editing by Rod Nickel, Matthew Lewis and Clarence Fernandez)

By Raphael Satter and Lefteris Papadimas

© Reuters -

2026

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打开原文

胡塞袭击扩大红海能源风险

重要性5/5 高

事件同时涉及沙特阿美能源设施、曼德海峡与霍尔木兹海峡,直接关联原油和航运风险;报道时效强、来源质量高,但实际损毁与供应影响尚未确认。

中文摘要

核心结论

胡塞武装以沙特空袭也门荷台达为由,向沙特红海沿岸的能源设施发射导弹和无人机,并威胁封锁曼德海峡内与沙特有关的航运。冲突把霍尔木兹海峡、红海航线与沙特石油设施同时纳入风险范围,直接影响原油供应和全球航运预期。

重要性评级

评级:5/5(高)

报道发布于美东时间 07/25 05:53(UTC+8 07/25 17:53),事件距当日日报较近。美联社提供多方公开表态和关键航运数据,涉及 Saudi Aramco(沙特阿美)、Brent(布伦特原油)、WTI(西得克萨斯中质原油)及红海航运,但尚无设施损毁、供应中断或价格影响的确认数据。

关键事实

  • 胡塞武装发言人叶海亚·萨雷称,导弹和无人机袭击指向延布、吉赞两座红海城市内属于沙特阿美的设施;沙特民防确认两地在 07/25(未给出具体时刻)多次响起警报,但未披露命中或损失情况。
  • 胡塞方面称行动是对沙特在 07/24(未给出具体时刻)空袭荷台达的回应。胡塞卫生部门称空袭波及港口和国营电信机构,造成两人受伤;沙特领导的联军否认袭击港口,称目标为威胁商船的军事设施。
  • 胡塞武装威胁封锁曼德海峡内与沙特有关的航运。该海峡连接红海与亚丁湾,约承载全球贸易量的 12%,其中包括全球约四分之一的集装箱运输。
  • 报道称,胡塞武装此前一周已在红海袭击两艘沙特油轮,显示威胁已从口头警告延伸至船舶和陆上能源设施。
  • 伊朗经历连续 13个夜晚遭美国打击后,07/25(未给出具体时刻)未报告新的夜间空袭;美国中央司令部当时也未宣布新行动。
  • 美国已恢复对伊朗港口的封锁。此前美国指责伊朗袭击霍尔木兹海峡内三艘船舶,随后打击伊朗境内数十个目标,伊朗则向驻有美军的海湾国家发射武器。
  • 以色列总理内塔尼亚胡办公室称,他计划于 07/28(未给出具体时刻)在华盛顿会见美国总统特朗普,为美伊斡旋及后续军事行动增添新的政策观察点。
  • 报道援引官方数据称,战争已在伊朗造成逾 3,400 人死亡,在黎巴嫩造成逾 4,000 人死亡;另有18名美军、24名以色列平民及38名以军士兵死亡。

作者观点与证据

报道把沙特设施遇袭、曼德海峡封锁威胁与霍尔木兹海峡对峙放在同一地区冲突链条中,强调两条关键航道可能同时承压。证据包括胡塞与沙特方面声明、沙特民防警报、航运占比及官方伤亡数据;设施是否被击中、油气生产是否受影响仍缺少独立确认,交战各方对荷台达空袭目标的说法也存在冲突。

与相关标的的关系

  • 2222.SE(沙特阿美股票代码):被点名的延布和吉赞设施属于沙特阿美,直接关联基础设施安全;报道未确认实际损毁、停产或出口受阻。
  • 布伦特原油与西得克萨斯中质原油:曼德海峡和霍尔木兹海峡的通行风险会影响运输成本、供应连续性与地缘风险溢价,但文章未提供油价变动或现货流量数据。
  • 红海航运:约12%的全球贸易和四分之一的集装箱运输经过曼德海峡,封锁威胁可能影响船期、绕航、运费与保险成本;当前报道未给出实际封航范围或船公司调整情况。

时效性与限制

文章由美联社发布于美东时间 07/25 05:53(UTC+8 07/25 17:53),并于美东时间 07/26 21:21(UTC+8 07/27 09:21)归档检索。报道依赖冲突各方及政府机构的早期声明,缺少卫星图像、港口流量、产量变化和船舶追踪等独立验证材料。

后续跟踪

  • 沙特对延布、吉赞设施是否受损及沙特阿美产量、出口是否变化的正式披露。
  • 曼德海峡实际通航状态,以及油轮、集装箱船的绕航、运费和保险费变化。
  • 胡塞武装是否继续袭击沙特油轮、港口或红海沿岸能源设施。
  • 07/28(未给出具体时刻)美以领导人会晤及美伊谈判是否改变军事行动节奏。
原文
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World News

Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

1 of 5 |

The U.S. military says it has fired on a merchant vessel attempting to breach its blockade of Iranian ports. It’s the second commercial ship to be disabled since the military reimposed its blockade in the Strait of Hormuz.

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2 of 5 |

President Donald Trump said Friday the U.S. is “locked and loaded” as he weighs a possible major strike on Iran but said “serious” negotiations are continuing.

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3 of 5 |

Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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4 of 5 |

Vehicles drive past a billboard depicting the clenched fist of the late Iranian Supreme Leader Ayatollah Ali Khamenei, in Tehran, Iran, Tuesday, July 21, 2026. (AP Photo/Vahid Salemi)

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5 of 5 |

A woman crosses a street with a girl in downtown Tehran, Iran, Wednesday, July 22, 2026. (AP Photo/Vahid Salemi)

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Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

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1 of 5

The U.S. military says it has fired on a merchant vessel attempting to breach its blockade of Iranian ports. It’s the second commercial ship to be disabled since the military reimposed its blockade in the Strait of Hormuz.

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2 of 5

President Donald Trump said Friday the U.S. is “locked and loaded” as he weighs a possible major strike on Iran but said “serious” negotiations are continuing.

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Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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3 of 5

Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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Vehicles drive past a billboard depicting the clenched fist of the late Iranian Supreme Leader Ayatollah Ali Khamenei, in Tehran, Iran, Tuesday, July 21, 2026. (AP Photo/Vahid Salemi)

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Vehicles drive past a billboard depicting the clenched fist of the late Iranian Supreme Leader Ayatollah Ali Khamenei, in Tehran, Iran, Tuesday, July 21, 2026. (AP Photo/Vahid Salemi)

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A woman crosses a street with a girl in downtown Tehran, Iran, Wednesday, July 22, 2026. (AP Photo/Vahid Salemi)

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A woman crosses a street with a girl in downtown Tehran, Iran, Wednesday, July 22, 2026. (AP Photo/Vahid Salemi)

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By

SAMY MAGDY and GIOVANNA DELL’ORTO

Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]

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CAIRO (AP) — Yemen’s Iran-backed Houthi rebels said Saturday that they fired missiles and drones at Saudi Arabia in response to Saudi airstrikes on the strategic Red Sea city of Hodeida, in an escalation over vital shipping routes in the Middle East while the United States and Iran vie for control of the Strait of Hormuz .

Brig. Gen. Yahya Saree, the Houthis’ military spokesperson, said in a prerecorded statement that the attack targeted facilities in the Red Sea cities of Yanbu and Jizan that belong to Aramco, the world’s largest oil company.

Saudi Arabia’s civil defense said alerts sounded multiple times early Saturday in both cities, but the kingdom didn’t comment further.

There were no reported strikes overnight in Iran, in an apparent break from nearly two weeks of consecutive nights of U.S. attacks .

Red Sea escalation further threatens global shipping

The Houthis have said they would close the Bab el-Mandeb Strait to Saudi-linked shipping in retaliation for the kingdom’s blockade on Yemen and a recent attack on the international airport in Yemen’s rebel-held capital, Sanaa.

“Nothing short of ending the aggression and lifting the blockade, otherwise, it’s all illusion and mirage,” Mahdi al-Mashat, head of the Houthi-led Supreme Political Council governing rebel-controlled territories in Yemen, said of what it would take for the Houthis to not blockade the Bab-El-Mandeb.

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56

That strait, at the southern tip of the Arabian Peninsula, is a vital shipping chokepoint connecting the Red Sea to the Gulf of Aden. Around 12% of the world’s trade, including a quarter of its container traffic, passes through the narrows.

The Houthis targeted two Saudi oil tankers in the Red Sea this week. In response, Saudi Arabia struck Hodeida, the Saudi-led coalition opposing the rebels said Saturday. The strikes late Friday hit the port and the state-run telecommunications corporation, injuring two people, said Anees al-Asbahi, a spokesperson for the Houthi-run health ministry.

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The Saudi-led coalition said it didn’t hit the port but struck “legitimate military targets” in Hodeida province that “were linked to threats to commercial vessels in the Red Sea.”

Iran’s foreign minister, Abbas Araghchi, called for “diplomacy and dialogue” to solve the Yemen conflict without “military confrontations” in an interview published Saturday by the state-run newspaper called Iran.

Iran condemns Ukrainian attack on commercial vessel

“Iran had a peaceful night,” Hossein Kermanpour, a spokesperson for Iran’s Health Ministry, posted on X. U.S. Central Command didn’t immediately respond to a request for comment. Unlike the previous 13 nights, it didn’t announce new strikes.

But Iran’s foreign ministry condemned what it called a Ukrainian attack Saturday on an Iranian commercial vessel in the Caspian Sea, saying one person was killed and another was hurt and calling it an act of aggression.

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In a separate statement, Araghchi said he spoke with European Union foreign policy chief Kaja Kallas about it and that Tehran demanded a response. Ukraine’s diplomatic representative to Iran was summoned, Iranian state media reported.

Ukrainian President Volodymyr Zelenskyy earlier said on X that Ukraine “achieved very strong results with long‑range strikes in the Caspian Sea — including vessels used in military cargo shipments involving Iran.”

While efforts at mediation between the U.S. and Iran continue, Israeli Prime Minister Benjamin Netanyahu plans to travel to the United States next week and meet with President Donald Trump in Washington on Tuesday, his office said Friday. They last met in Washington in February, weeks before they launched the war .

Over 7,000 people have been killed, including in Lebanon

A tenuous ceasefire that halted major operations for weeks has seemed to unravel this month. The U.S. accused Iran of striking three ships in the Strait of Hormuz and responded by striking dozens of targets in Iran, which retaliated by firing at U.S.-allied Gulf Arab states.

The U.S. military has renewed its blockade of Iran’s ports. Iran’s Revolutionary Guard has advised residents of neighboring countries to stay away from bases with U.S. troops.

The war has killed more than 3,400 people in Iran, according to its Health Ministry. Eighteen U.S. service members, 24 civilians in Israel and smaller numbers of civilians including foreign workers and mariners have been reportedly killed across the region.

In Lebanon, more than 4,000 people have been killed since Iran-backed Hezbollah militants fired at Israel in support of the Islamic Republic two days after the war began and Israel responded with strikes and ground forces. Thirty-eight Israeli troops have also died.

___

Dell’Orto reported from Jerusalem. Associated Press reporter Cara Anna in Lowville, New York, contributed to this report.

SAMY MAGDY

Magdy is a Middle East reporter for The Associated Press, based in Cairo. He focuses on conflict, migration and human rights abuses.

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GIOVANNA DELL’ORTO

Dell’Orto is a multimedia reporter with The AP’s Global Religion team. She has reported across the United States, Europe, Latin America and the Middle East, covering events and issues ranging from the conclave to the Israel-Hamas war to the Olympics, from immigration to the intersection of Indigenous spirituality and the environment.

打开原文

美国对60个经济体加征强迫劳动关税

重要性5/5 最高优先级

美国官方文件确立覆盖60个经济体的广泛关税框架,与全球贸易、美元及主要制造供应链直接相关,且发布仅数日。实施日期、税号和豁免附件尚待后续文件确认。

中文摘要

核心结论

美国总统指示贸易代表依据《1974年贸易法》第301条(Section 301),对60个经济体未充分禁止强迫劳动产品进口的做法采取关税行动。税率分为10%、与最惠国税率合计封顶10%或12.5%、以及统一12.5%三类,并配套产品豁免和纺织服装关税配额。

重要性评级

评级:5/5(最高优先级)

这是07/23(未给出具体时刻)发布的美国官方贸易政策文件,覆盖中国、欧盟、日本、加拿大、墨西哥及主要亚洲制造经济体,可能改变广泛商品的对美关税成本。实际影响仍取决于美国贸易代表办公室的实施通知、附件豁免清单和生效日期。

关键事实

  • 美国贸易代表办公室(USTR)于03/12(未给出具体时刻)对60个经济体启动调查,并于06/02(未给出具体时刻)认定相关政策或执行不足构成不合理措施,限制或加重美国商业负担。
  • 阿根廷、孟加拉国、柬埔寨、加拿大、厄瓜多尔、萨尔瓦多、危地马拉、洪都拉斯、印度、印度尼西亚、约旦、马来西亚、墨西哥、巴基斯坦、斯里兰卡、英国及特立尼达和多巴哥适用10%税率。
  • 欧盟和台湾地区的第301条关税与MFN(最惠国)税率合计封顶10%;日本、韩国和瑞士合计封顶12.5%。现有最惠国税率达到相应上限时,新增第301条税率为零。
  • 其余被调查经济体适用12.5%税率,其中包括中国。文件将各经济体的措施定义为相互独立的关税行动,单项司法失效原则上不影响其他措施。
  • 豁免对象包括美国国内供应不足的原材料、可能造成经济范围扰动的产品、美国无法足量或合理成本生产的产品,以及难以推动政策整改的商品;具体范围以备忘录附件为准。
  • USTR在07/07、07/08和07/09(均未给出具体时刻)举行听证,收到逾1,600份书面意见及100多名证人的证词。
  • 孟加拉国、柬埔寨、印度尼西亚和马来西亚将获得初始期限三年的TRQ(关税配额),符合美国棉花或纺织投入条件的特定纺织服装进口可免征第301条关税。
  • 关税配额当时尚不具备实施条件,文件称预计到09/01(未给出具体时刻)具备可行性;建立前,相关纺织服装仍适用10%税率。

作者观点与证据

白宫将关税、豁免和关税配额描述为推动贸易伙伴建立并有效执行强迫劳动进口禁令的合适工具。依据包括USTR调查结论、公开听证和利益相关方意见,但文件没有提供各经济体执法缺口的逐项证据,也没有量化关税对美国进口价格、供应链或强迫劳动治理成效的影响。

与相关标的的关系

该政策直接关联全球贸易和美元(USD)定价环境,并影响面向美国市场的跨国供应链。中国及多数未获较低税率安排的经济体面临12.5%税率;欧盟、日本、韩国、瑞士和台湾地区因合计税率封顶,新增负担取决于既有最惠国税率。纺织服装、棉花、原材料和美国供应不足商品的影响还受豁免附件与后续关税配额约束。

时效性与限制

文件发布于07/23(未给出具体时刻),归档抓取于美东时间 07/26 21:21(UTC+8 07/27 09:21)。现有文本没有列出关税统一生效日期,且抽取内容未包含实质性的附件商品清单;最终税号、豁免范围、关税配额条件及执行日期须以USTR和《联邦公报》通知为准。

后续跟踪

  • USTR实施通知、关税生效日期及美国协调关税表的具体税号。
  • 各经济体附件豁免范围及现有最惠国税率与新增税率的叠加结果。
  • 09/01前后四个纺织服装出口经济体的关税配额设计、数量和资格条件。
  • 受调查经济体后续立法、执法承诺及美国对税率或豁免的调整。
原文
Actions by the United States in the Investigations under Section 301 of the Trade Act of 1974 of the Acts, Policies, and Practices of 60 Economies Related to the Failure of Each Economy to Impose and Effectively Enforce a Prohibition on the Importation of Goods Produced with Forced Labor

Presidential Actions

#

Actions by the United States in the Investigations under Section 301 of the Trade Act of 1974 of the Acts, Policies, and Practices of 60 Economies Related to the Failure of Each Economy to Impose and Effectively Enforce a Prohibition on the Importation of Goods Produced with Forced Labor

Presidential Memoranda

July 23, 2026

MEMORANDUM FOR THE UNITED STATES TRADE REPRESENTATIVE

Subject:       Actions by the United States in the Investigations under Section 301 of the Trade Act of 1974 of the Acts, Policies, and Practices of 60 Economies Related to the Failure of Each Economy to Impose and Effectively Enforce a Prohibition on the Importation of Goods Produced with Forced Labor

On March 12, 2026, the United States Trade Representative (Trade Representative) initiated investigations under section 301 of the Trade Act of 1974, as amended (19 U.S.C. 2411) (section 301), into the acts, policies, and practices of 60 economies to examine whether any of the economies subject to these investigations fail to prohibit or to effectively enforce a prohibition on the importation of goods produced wholly or in part with forced labor and whether the failure is unreasonable or discriminatory and burdens or restricts U.S. commerce. 91 Fed . Reg . 12884 (Initiation of Section 301 Investigations). The economies subject to these investigations are:

1. Algeria

2. Angola

3. Argentina

4. Australia

5. The Bahamas

6. Bahrain

7. Bangladesh

8. Brazil

9. Cambodia

10. Canada

11. Chile

12. China, People’s Republic of

13. Colombia

14. Costa Rica

15. Dominican Republic

16. Ecuador

17. Egypt

18. El Salvador

19. European Union

20. Guatemala

21. Guyana

22. Honduras

23. Hong Kong, China

24. India

25. Indonesia

26. Iraq

27. Israel

28. Japan

29. Jordan

30. Kazakhstan

31. Kuwait

32. Libya

33. Malaysia

34. Mexico

35. Morocco

36. New Zealand

37. Nicaragua

38. Nigeria

39. Norway

40. Oman

41. Pakistan

42. Peru

43. Philippines

44. Qatar

45. Russia

46. Saudi Arabia

47. Singapore

48. South Africa

49. South Korea

50. Sri Lanka

51. Switzerland

52. Taiwan

53. Thailand

54. Trinidad and Tobago

55. Türkiye

56. United Arab Emirates

57. United Kingdom

58. Uruguay

59. Venezuela

60. Vietnam

On June 2, 2026, the Trade Representative determined that the acts, policies, and practices of each of these economies are unreasonable and burden or restrict U.S. commerce and thus are actionable under section 301(b)(1) (19 U.S.C. 2411(b)(1)) (Notice of Determinations: 2026-11296; 91 Fed . Reg . 34272) (Notice of Determinations).

As a result of these determinations, the Trade Representative proposed to determine in each investigation that action is appropriate under section 301 to obtain the elimination of the actionable acts, policies, and practices, including imposing ad valorem tariffs on all goods of each investigated economy, with exemptions for certain goods. To obtain the elimination of the actionable acts, policies, and practices in each investigation, the Trade Representative proposed section 301 tariffs. The Trade Representative proposed tariffs of 10 percent ad valorem on goods of economies that: impose a forced labor import prohibition but do not yet effectively enforce it (Canada, Ecuador, the European Union, Indonesia, Mexico, and Pakistan); have undertaken commitments in their respective Agreements on Reciprocal Trade regarding forced labor import prohibitions (Argentina, Bangladesh, Cambodia, Ecuador, El Salvador, Guatemala, Indonesia, Malaysia, and Taiwan); or have imposed a partial regime with the effect of preventing the importation of certain forced labor goods (the United Kingdom). For all other economies whose failure to impose forced labor import prohibitions the Trade Representative has found actionable under section 301, the Trade Representative proposed section 301 tariffs of 12.5 percent ad valorem . In addition, the Trade Representative proposed to establish a textile mechanism that would allow a certain volume of apparel and textile imports to enter the United States at a zero section 301 tariff rate.

The Office of the United States Trade Representative (USTR) invited comments by interested persons on these proposed actions and convened public hearings on July 7, 8, and 9, 2026. USTR received over 1,600 written comments and testimony from over 100 witnesses at the hearings.

The Trade Representative has informed me of the substance of significant comments on the proposed actions in each investigation and provided me his advice on appropriate actions, including tariffs of various rates, exemptions for certain products, and tariff-rate quotas (TRQs) for specific types of products for certain economies.  For example, the Trade Representative advised me that after considering the comments and testimony received, certain products warrant exemption from tariffs imposed in connection with an investigation, including because of the needs of the U.S. economy or based on the extent to which imposing tariffs on the products will contribute to the elimination of the acts, policies, and practices of the economies found to be actionable in the investigations described above.  These exemptions encompass (a) raw materials that if subject to the proposed additional tariffs could lead to the unavailability of domestic supply; (b) products that could cause economy-wide disruptions if subject to the proposed additional tariffs; (c) products that cannot be grown or produced in sufficient quantities or at reasonable prices in the United States or obtained from other sources; (d) products that if exempted from these tariffs would encourage economies that have made commitments to the United States regarding forced labor import prohibitions to implement those commitments or to enact and effectively enforce a forced labor import prohibition; or (e) articles for which these tariffs may not contribute substantially to the elimination of the acts, policies, and practices of the economies found to be actionable in the investigations described above.

The Trade Representative has also advised me that for goods of the European Union, Japan, Korea, Switzerland, or Taiwan, section 301 tariffs that are the net of Most-Favored Nation (MFN) tariffs would be consistent with their respective Agreements on Reciprocal Trade or similar arrangements and would be appropriate to encourage these economies to fulfill commitments regarding forced labor import prohibitions or to enact or effectively enforce such a prohibition.

Further, the Trade Representative has advised me that, based on the comments and testimony received, the establishment of TRQs on certain textile and apparel goods is appropriate as a means to encourage the importation by trading partners of U.S. cotton and textile goods, in order to reduce the reliance of such partners on inputs from other sources that are more likely to contain forced labor inputs.  Such TRQs, in combination with other tariffs on other products of those trading partners, are appropriate to obtain the elimination of the acts, policies, or practices found actionable under section 301 for those trading partners.  The Trade Representative has also informed me that establishing these TRQs is not feasible at this time, but that establishing these TRQs will be feasible by September 1, 2026.

Finally, the Trade Representative has informed me that following consultation with certain economies in these investigations and publication of the Notice of Determinations, additional economies have imposed forced labor import prohibitions (Cambodia, Guatemala, Honduras, India, Sri Lanka, and Trinidad and Tobago) or undertaken commitments regarding forced labor import prohibitions in an Agreement on Reciprocal Trade (Jordan). As a result of these actions, the Trade Representative has advised me that the goods of these economies should be tariffed at the 10 percent rate to further encourage these economies to effectively enforce such prohibitions, and, in the case of Jordan, to enact and effectively enforce its commitments regarding forced labor import prohibitions.

After considering the relevant issues and factors and weighing the relevant considerations, including this information and advice from the Trade Representative; the information, findings, and determinations in USTR’s Notice of Determinations; and the need to obtain the elimination of the acts, policies, and practices of the investigated economies found to be actionable under section 301, it is hereby directed as follows:

Section 1 .  Tariffs and Exemptions .  (a)  Except as otherwise provided in this memorandum, the Trade Representative shall impose the following tariff rates on all goods of the economy for which an act, policy, or practice was found actionable under section 301:

(i) 10 percent tariff rate: The Trade Representative shall impose a tariff of 10 percent on goods of Argentina, Bangladesh, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Jordan, Malaysia, Mexico, Pakistan, Sri Lanka, the United Kingdom, and Trinidad and Tobago.

(ii) Tariff rate of 10 percent or 12.5 percent, net of MFN rate: For a product of the European Union or Taiwan, where such product’s MFN tariff is less than 10 percent, the Trade Representative shall impose a section 301 tariff pursuant to these investigations so that the sum of the MFN tariff and the section 301 tariff shall be 10 percent, and where such product’s MFN tariff is greater than or equal to 10 percent, the Trade Representative shall impose a section 301 tariff of zero. For a product of Japan, Korea, or Switzerland, where such product’s MFN tariff is less than 12.5 percent, the Trade Representative shall impose a section 301 tariff pursuant to these investigations so that the sum of the MFN tariff and the tariff imposed pursuant to these investigations shall be 12.5 percent, and where such product’s MFN tariff is greater than or equal to 12.5 percent, the Trade Representative shall impose a section 301 tariff of zero. Capping total duties in this manner is feasible, consistent with the terms of the Agreements on Reciprocal Trade or similar arrangements, and appropriate to encourage these economies to fulfill commitments regarding forced labor import prohibitions or to enact and effectively enforce such a prohibition.

(iii) 12.5 percent tariff rate: For goods of all other investigated economies, the Trade Representative shall impose a tariff rate of 12.5 percent.

(b) The Trade Representative shall exempt from the tariffs imposed as directed in subsection (a) of this section the products identified in the Annex to this memorandum for each economy for which an act, policy, or practice was found actionable under section 301, as the products identified constitute:

(i) raw materials that if subject to these tariffs could lead to the unavailability of domestic supply;

(ii) products that could cause economy-wide disruptions if subject to these tariffs;

(iii) products that cannot be grown or produced in sufficient quantities in the United States or obtained from other sources;

(iv) products for which these tariffs may not be effective in obtaining the elimination of the acts, policies, and practices of economies found to be actionable in the investigations; or

(v) certain products of Argentina, Bangladesh, Cambodia, Ecuador, El Salvador, the European Union, Guatemala, Indonesia, Jordan, Malaysia, Switzerland, Taiwan, or the United Kingdom that would encourage these economies to fulfill commitments regarding forced labor import prohibitions or to encourage these economies to enact and effectively enforce a forced labor import prohibition.

(c) After considering the relevant issues and factors and weighing the relevant considerations, including potential economic harm and efficacy of tariffs, I determine that the products identified in the Annex to this memorandum shall be exempted from the tariffs directed in subsection (a) of this section, and the Trade Representative shall direct that the Harmonized Tariff Schedule of the United States (HTSUS) be modified as provided in the Annex to this memorandum. In my judgment, the tariffs directed in subsection (a) of this section with the exemptions described in subsection (b) of this section are appropriate and feasible to obtain the elimination of the acts, policies, or practices of the economies found to be actionable under section 301.

Sec . 2 .   Tariff-Rate Quotas .  (a)  As soon as the Trade Representative determines that it is feasible, the Trade Representative shall:

(i) establish TRQs for Bangladesh, Cambodia, Indonesia, and Malaysia, with an initial duration of 3 years, to encourage the importation by each of these economies of U.S. textile goods, in order to reduce reliance on inputs from other sources that are more likely to contain forced labor inputs; and

(ii) structure the TRQs for Bangladesh, Cambodia, Indonesia, and Malaysia to allow for a certain volume of specific textiles and apparel, based on that economy’s importation of U.S. inputs, to enter the United States free of the section 301 tariffs provided for in section 1(a) of this memorandum.

(b) As soon as the Trade Representative determines that it is feasible, the Trade Representative shall:

(i) establish TRQs for Bangladesh, Cambodia, Indonesia, and Malaysia, with an initial duration of 3 years, to encourage the importation by each of these economies of U.S. cotton, in order to reduce reliance on inputs from other sources that are more likely to contain forced labor inputs; and

(ii) structure the TRQs for Bangladesh, Cambodia, Indonesia, and Malaysia to allow for a certain volume of specific textile and apparel, based on that economy’s importation of U.S. cotton, to enter the United States free of the section 301 tariffs provided for in section 1(a) of this memorandum.

(c) Until the Trade Representative establishes the TRQs described in subsections (a) and (b) of this section, the Trade Representative shall impose the applicable section 301 tariffs provided for in section 1(a) of this memorandum (here, 10 percent) on imports of specific textile and apparel of Bangladesh, Cambodia, Indonesia, and Malaysia that will be covered by the TRQs for each of those economies.

(d) The Trade Representative shall modify the HTSUS as appropriate to implement the directives in this section. The Trade Representative shall publish a notice in the Federal Register regarding the establishment and the effective date of the TRQs directed in this section.

(e) After considering the relevant issues and factors and weighing the relevant considerations, including potential economic harm and efficacy of tariffs, I determine that the actions directed in this section are appropriate and feasible to obtain the elimination of the applicable economies’ acts, policies, or practices found actionable under section 301.

Sec . 3 .  Additional Explanation .  (a)  After considering the relevant issues and factors and weighing the relevant considerations, including potential economic harm and efficacy of tariffs, I determine that the actions directed in this memorandum are appropriate and feasible to obtain the elimination of the act, policy, or practice of each economy found to be actionable under section 301.

(b) In my judgment, each tariff of 10 percent on all goods of Bangladesh, Cambodia, Indonesia, and Malaysia, with the exemptions for certain goods as discussed in section 1(b) of this memorandum and the TRQs discussed in section 2 of this memorandum, is appropriate and feasible to obtain the elimination of the acts, policies, or practices of Bangladesh, Cambodia, Indonesia, and Malaysia found to be actionable under section 301.

(c) In my judgment, each tariff of the above-described percentages on all goods of each economy found actionable under section 301, with the exemptions for certain goods as discussed in section 1(b) of this memorandum, is appropriate and feasible to obtain the elimination of the acts, policies, or practices of each economy found to be actionable under section 301.

(d) I have considered alternatives to the actions directed in this memorandum, such as lower tariff rates, additional or fewer exemptions, omitting TRQs from the responsive actions to be taken, altering the scope of goods subject to a TRQ, negotiations without the imposition of tariffs, action under other statutory authority without action under section 301, and combinations of various approaches. After considering such alternatives, I determine that alternatives to the actions directed in this memorandum would be less effective and less preferable than the actions directed in this memorandum. In my judgment, the actions directed in this memorandum are more appropriate than alternatives to obtain the elimination of the economies’ acts, policies, or practices found actionable under section 301.

(e) The Trade Representative may modify or terminate the tariffs, exemptions, or TRQs for an economy, as appropriate and subject to my specific direction, if any, including pursuant to section 307 of the Trade Act of 1974 (19 U.S.C. 2417).

Sec . 4 .  Severability .  (a)  If any provision of this memorandum or the application or implementation of any provision of this memorandum with respect to any individual section 301 investigation is held to be invalid, the remainder of this memorandum, and the application or implementation of its provisions to any other investigation, shall not be affected.

(b) This memorandum contains separate directives with respect to 60 separate economies. Each tariff action directed in this memorandum is separate from every other and imposed for the distinct purpose of obtaining the elimination of the specific economy’s act, policy, or practice found actionable under section 301. Each tariff action directed in this memorandum is only for the purpose of obtaining the elimination of the specific economy’s act, policy, or practice found actionable under section 301 and not for any other purpose. Each tariff action directed in this memorandum, when implemented, is intended to operate independent of each other, and the potential invalidity of one tariff directed in this memorandum that is implemented should not affect any other tariff directed in this memorandum that is implemented.

(c) If the implementation of any tariff action directed in this memorandum is held to be invalid, only that tariff shall be treated as invalid. Any other tariff action directed in this memorandum that is implemented shall continue to apply.

(d) This section reflects my determination that each tariff action directed in this memorandum that is implemented -‑ with any combination of exemptions or even without any exemptions — should remain operative to obtain the elimination of the specific economy’s act, policy, or practice found actionable under section 301. In my judgment, each tariff action directed in this memorandum is feasible and appropriate to obtain the elimination of the applicable economy’s act, practice, or policy found actionable under section 301.

(e) This section further reflects my intent that each tariff action at the rates set forth in section 1(a) of this memorandum, when implemented, remain operative and that the exemptions set forth in section 1(b) of this memorandum be operative to the maximum extent consistent with law. If any exemption to any tariff directed in this memorandum, when implemented, is held to be invalid in whole or in part, only that exemption or that part of the exemption should be treated as invalid. The applicable tariff action directed in this memorandum should apply to imports to which the invalidated exemption or the invalidated part of the exemption applied before its invalidation.

Sec . 5 .  General Provisions .  (a)  Nothing in this memorandum shall be construed to impair or otherwise affect:

(i) the authority granted by law to an executive department or agency, or the head thereof; or

(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.

(b)  This memorandum shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

Sec . 6 .  Publication .  The Trade Representative is authorized and directed to publish this memorandum in the Federal Register .

ANNEX

DONALD J. TRUMP

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欧盟重罚谷歌搜索与应用商店自我优待

重要性4/5 高优先级

欧盟一手执法信息对Alphabet两项主要平台业务具有直接约束,罚款金额和违规行为均已明确,且发布时间较新。财务影响与整改路径仍缺少决定全文和公司回应支持。

中文摘要

核心结论

欧盟委员会认定Google(谷歌)在搜索结果中优待自有服务,并限制应用开发者引导用户前往其他购买渠道,两项行为违反DMA(《数字市场法》)。委员会分别处以4.60亿欧元和4.30亿欧元罚款,合计8.90亿欧元,并要求终止违规行为。

重要性评级

评级:4/5(高优先级)

这是07/23(未给出具体时刻)发布的欧盟委员会执法决定,直接影响Alphabet(谷歌母公司,GOOG、GOOGL)的搜索展示规则、应用商店收费模式与欧洲监管成本。现有材料为委员会新闻稿,缺少决定全文、整改期限、谷歌回应和潜在上诉信息。

关键事实

  • 欧盟委员会作出两项不合规决定,认定谷歌搜索自我优待和Google Play(谷歌应用商店)限制外部引导分别违反《数字市场法》。
  • 搜索业务罚款4.60亿欧元,应用商店外部引导业务罚款4.30亿欧元,合计8.90亿欧元(EUR)。
  • 委员会称,谷歌在购物、酒店、交通和体育等搜索结果中给予自有服务更高展示位置,包括页面顶部、增强视觉样式和专用筛选器;第三方服务未获得同等展示条件。
  • 《数字市场法》要求被认定为“守门人”的平台在排名中采用透明、公平和非歧视条件,不得优待自有服务。
  • 在Google Play环节,开发者应能免费告知用户其他渠道中通常更便宜的方案,并引导用户在网站或第三方应用商店完成购买。
  • 委员会认定谷歌限制开发者自由宣传外部优惠及通过自选分销渠道签约;与外部引导相关的收费水平和收费期限也超出合规范围。
  • 委员会承认谷歌可因通过Google Play促成开发者首次获得新客户而收取费用,但本次决定否定了现行外部引导收费安排。
  • 两项决定均要求谷歌结束违规状态;新闻稿未披露具体整改期限、罚款计算方法或业务调整方案。

作者观点与证据

欧盟委员会的执法立场明确:搜索排序的显著展示差异以及开发者外部沟通、签约和收费限制构成平台守门人义务的实质违规。证据在新闻稿中以行为描述呈现,但没有附带决定全文、市场数据、内部文件或逐项法律分析,也未纳入谷歌对事实和法律适用的回应。

与相关标的的关系

GOOG和GOOGL对应的Alphabet直接承担罚款与整改影响。搜索业务可能需要调整自有购物、酒店、交通及体育服务的展示方式;Google Play可能需要降低或缩短外部引导收费,并放宽开发者沟通和成交渠道限制。该案也关系欧元(EUR)计价监管成本及美欧数字平台执法与贸易摩擦,但新闻稿没有量化收入、利润率或跨地区政策传导。

时效性与限制

新闻稿发布于07/23(未给出具体时刻),页面最后更新于07/24(未给出具体时刻),归档抓取于美东时间 07/26 21:21(UTC+8 07/27 09:21)。材料仅呈现欧盟委员会口径,尚不足以判断谷歌是否上诉、何时完成整改,以及收费和搜索展示调整的财务影响。

后续跟踪

  • 两项正式决定全文、整改期限及持续不合规可能触发的追加措施。
  • 谷歌回应、上诉安排及搜索和Google Play规则修改方案。
  • 外部引导费率、收费期限与开发者转向网站或第三方应用商店的比例。
  • Alphabet对罚款、欧洲收入和平台利润率影响的财务披露。
原文
Commission fines Google €890 million for breaches of the Digital Markets Act

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Commission fines Google €890 million for breaches of the Digital Markets Act

  • PRESS RELEASE
  • Publication 23 July 2026

The European Commission took two decisions finding non-compliance by Google with the Digital Markets Act (DMA) for self-preferencing its own services on Google Search, and for putting in place restrictions on businesses to direct consumers to alternative, often cheaper, purchase channels on Google Play (steering).

In this regard, the Commission issued Google a fine of €460 million and a fine of €430 million respectively.

Self-preferencing on Google Search

Under the DMA, gatekeepers must not treat their own services more favourably in ranking than third-party services. They have to apply transparent, fair and non-discriminatory conditions to such ranking.

The Commission found that Google gives preferential treatment to its own services, including shopping, hotels, transport and sports results, over those of third parties in Google Search, thereby breaching its obligations under the DMA.

Google displays its own services more prominently in search results, including at the top of the search results page or by using enhanced visuals and filters, while similar third-party services do not have the same prominence.

Google's anti-steering

Under the DMA, app developers that distribute their apps via Google Play should be able to inform customers – free of charge – of alternative, often cheaper, offers, and to direct them to those offers to make purchases, for example on websites or alternative app stores.

The Commission found that Google failed to comply with that obligation.

In particular, Google prevents app developers from freely communicating and promoting offers and concluding contracts with users in distribution channels of their choice, including third-party app stores.

While Google can receive a fee for facilitating the initial acquisition of a new customer by an app developer via Google Play, the level of the steering-related fees charged by Google and the length of the charging period for these fees went beyond what is considered compliant with the DMA.

As part of today's two decisions, the Commission has ordered Google to bring the non-compliance to an end.

Read the full press release

Last update

24 July 2026

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This wave of Trump tariffs is likely here to stay; more are coming

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
This wave of Trump tariffs is likely here to stay; more are coming

This wave of Trump tariffs is likely here to stay; more are coming

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Important Notice Regarding the Orderly Cessation of BitMart Operations

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
Important Notice Regarding the Orderly Cessation of BitMart Operations

Important Notice Regarding the Orderly Cessation of BitMart Operations

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BitMEX关停进入强制平仓倒计时

重要性5/5 高

官方关停通知含明确限制开仓、强制平仓和服务终止节点,直接影响加密衍生品市场结构,时效性与事实确定性均高。

中文摘要

核心结论

BitMEX宣布结束交易所业务,并设置停止开仓、逐步强制平仓和最终关闭三道节点。该公告直接影响平台用户及加密永续合约市场,但原文没有披露客户资产规模、未平仓量或关停原因的财务细节。

重要性评级

评级:5/5(高)

交易所官方公告提供明确生效日期和处置规则,且距离限制开仓仅约一个月,对BTC(比特币)及加密永续合约市场的流动性观察具有较高时效价值。

关键事实

  • HDR Global Trading Limited董事会在战略审查后决定关闭BitMEX交易所,新账户注册已立即停止。
  • 交易所将在美东时间 09/23 00:00(UTC+8 09/23 12:00)终止服务;此后仅保留登录、余额和历史记录查询以及资产提取功能。
  • BitMEX将在美东时间 08/26 00:00(UTC+8 08/26 12:00)实施风险限制,用户届时只能减少现有仓位,无法新增仓位。
  • 风险限制生效后,BitMEX可逐步强制关闭未平仓仓位;关闭时点仍未处理的仓位将被立即强制平仓,低流动性合约可能提前结算。
  • 平台已解除所有BMEX(平台代币)质押,相应代币已回到持有人账户。
  • 通过KYC(客户身份认证)的用户若在关闭时点后仍留有资产,将按50美元等值或年化1%两者孰高收取账户费,费用按月计提。
  • BitMEX提示关闭期间可能出现钓鱼活动和提取延迟,并称其储备与负债证明显示资产超过负债;该说法来自平台自身披露,原文未提供独立审计材料。
  • 公司称自2014年成立以来运营超过11年,未因黑客攻击损失用户资金,并将100倍杠杆永续合约列为其历史创新成果。

作者观点与证据

公告将关停描述为董事会完成业务及行业战略审查后的决定,强调平台安全记录、加密衍生品创新和有序退出安排。关停日期、限制开仓、强制平仓及收费规则属于运营方正式通知;资产充足、安全记录和行业贡献均为BitMEX自述,缺少审计报告、客户资产数据和战略审查细节支持。

与相关标的的关系

BTC及加密永续合约与事件直接相关。BitMEX曾是永续合约市场的重要基础设施,退出可能带来平台内未平仓量迁移、特定合约流动性下降和结算活动增加;实际市场影响取决于其当前交易份额、未平仓量和资金外流规模,原文均未披露。

时效性与限制

公告发布于07/23(未给出具体时刻),采集于美东时间 07/26 21:21(UTC+8 07/27 09:21)。内容是第一方运营通知,但没有披露监管背景、财务状况、客户资产规模、各合约未平仓量及董事会作出决定的具体依据。

后续跟踪

  • 美东时间 08/26 00:00(UTC+8 08/26 12:00)前后的未平仓量、成交量和资金提取情况。
  • 提前结算合约名单、结算价格方法及公告频率。
  • BitMEX储备与负债证明、资产提取处理速度和异常延迟。
  • 其他衍生品交易所承接的成交量与未平仓量变化。
原文
BitMEX Exchange to Sunset on 23 September at 04:00 UTC | BitMEX

Blog / Announcements / Important Message from BitMEX

Important Message from BitMEX

23 July 2026

To all users of BitMEX,

Today we are announcing the closure of the BitMEX Exchange, which will take effect on 23 September 2026 at UTC 04:00:00 (the Closure Time). With immediate effect, we have stopped all new account registrations. Following a strategic review of the business and the broader crypto industry, the board of HDR Global Trading Limited, owner and operator of BitMEX, has decided to close the exchange. This comes with a heavy heart for all of us at the company and has not been taken lightly.

When BitMEX started in 2014, our mission was simple: provide access to professional-grade crypto derivatives for everyone. BitMEX invented the 100x leverage perpetual swap, the most traded product in the crypto industry – now adopted by thousands of people and exchanges. This legacy reflects our commitment to bringing innovative and sophisticated risk management tools for all users. And we continue to take pride in our robust security posture, which, unlike many of our peers, has resulted in BitMEX experiencing zero funds lost to hacks during its entire operating history of over 11 years.

The BitMEX platform has always remained grounded to the true ethos of Bitcoin – neutrality, transparency, and decentralisation, which is evident through our peer-to-peer operations and a top priority focus on user fund safety. While this news is a difficult one to share, we are proud of everything that has been built at the company since its launch as a pioneer of crypto derivatives.

What Does This Mean for Users?

Immediately from the Closure Time, there will be no further exchange services provided by BitMEX other than continuing to hold the assets of users who have not already closed all positions and withdrawn their funds prior to this point. Even after the Closure Time, users will still be able to log into their account to see their wallet balance and historical transaction information to withdraw their funds. Please note that this means we have unstaked all staked BMEX Tokens on the platform, and it is immediately available in holder accounts.

We strongly encourage all users to close open positions and withdraw their funds as soon as practical. The exchange will operate as normal during the period up until the Closure Time, although we will apply risk limits from 26 August at UTC 04:00:00 to stop users from placing new positions (so you will only be able to reduce your positions). From this point to the Closure Time, BitMEX will force close existing open positions to ensure an orderly wind down of the market. Any remaining open positions at the Closure Time will be immediately force closed. All users are on notice that BitMEX may force close positions as described above at its sole discretion, and takes no responsibility for any trading losses that result from users’ inability to close their positions between now and the Closure Time.

We will apply early settlement procedures to contracts trading with limited liquidity. Notice will be given to users in accordance with our usual procedures for early settlements.

KYC’d users who have failed to withdraw their assets from the platform by the Closure Time will be charged an account fee of USD50 equivalent or 1% per annum (whichever is greater), charged monthly, on the balance remaining in their account. Failure to withdraw funds by the Closure Time will mean you have agreed to be charged that fee, and have agreed to subsequent increases in that fee (to be communicated in advance) if you continue to fail to withdraw after the Closure Time.  We will continue to regularly reach out to users who have failed to withdraw their assets by the Closure Time to encourage withdrawals.

We are mindful that a wind down of an exchange can generate additional risks to users’ funds by bad actors trying to take advantage of what they assume may be uncertainty. Be vigilant for phishing attempts using this news, or promising priority or accelerated withdrawals - no such expedited service is available . To ensure end-to-end safety, we will deploy additional review procedures on all withdrawals requested and may see heightened withdrawal requests being subject to network restrictions depending on the assets being withdrawn. Certain blockchains, like Bitcoin, can have very long block confirmation times (up to an hour is not uncommon) which can limit our capacity to process withdrawals promptly from our fixed pool of addresses. As long as your withdrawal is marked “Processing”, it will be queued and posted to the blockchain when the next address becomes free. We apologise in advance for any potential delays in processing certain withdrawals, but you can be assured that all assets exceed liabilities as stated on our Proof of Reserves and Liabilities page .

Final Note

From all of us at BitMEX, we want to thank everyone who has interacted with our platform  over its long history. You have all played a pivotal role in helping BitMEX become the industry leader it was, and we hope you will continue to trade on the many excellent platforms that have followed in our footsteps.

For any questions, please reach out to our Support team who are available 24/7.

Best,

BitMEX Team

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NAVER, NVIDIA and Brookfield to Expand Korea’s National AI Factory Infrastructure Buildout

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
NAVER, NVIDIA and Brookfield to Expand Korea’s National AI Factory Infrastructure Buildout

NAVER, NVIDIA and Brookfield to Expand Korea’s National AI Factory Infrastructure Buildout

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AI资本开支遭遇现金流审视

重要性5/5 高

发布时间紧邻大型科技公司财报,覆盖主要科技与半导体标的,并以资本开支、现金流、估值和波动率数据呈现市场定价变化。

中文摘要

核心结论

彭博经《财富》刊发的分析认为,市场对大型科技公司AI(人工智能)投资的评价标准已经收紧:收入高速增长不足以抵消资本开支、负自由现金流和债务上升带来的担忧。微软、Meta、苹果和亚马逊即将公布业绩,其资本投入、现金流和投资回报路径将接受集中检验。

重要性评级

评级:5/5(高)

文章发布于大型科技公司财报密集期前,覆盖AAPL、AMZN、GOOGL、META、MSFT及半导体板块,并提供资本开支、估值、指数表现和波动率数据,对当周跨资产风险偏好判断具有直接价值。

关键事实

  • Alphabet将2026年资本开支上调至最高2,050亿美元,第二季度自由现金流自2004年首次公开募股以来首次转负;尽管云计算收入增长82%,股价仍在财报后下跌逾7%,创一年多最大单日跌幅。
  • 微软和Meta计划于07/29(未给出具体时刻)公布业绩,苹果和亚马逊计划于07/30(未给出具体时刻)公布业绩。
  • Alphabet、微软、亚马逊和Meta的2026年资本开支预计合计约7,240亿美元,2027年预计接近9,500亿美元,数据来自彭博汇总的分析师平均预测。
  • Magnificent Seven(美国科技“七巨头”)指数在Alphabet财报后的周四下跌4.8%,创2025年4月美国关税政策公布以来最差表现;该指数2026年累计下跌3.7%。
  • 微软2026年资本开支估算超过1,900亿美元,股价年内下跌21%;Meta年内下跌9.8%,亚马逊年内基本持平。
  • SOX(费城半导体指数)上半年上涨101%,7月已回落17%;其100日波动率升至2020年以来最高,年内出现17次不低于5%的单日波动,与2008年以来最高次数持平。
  • 苹果因较少直接建设AI基础设施并采用模型合作策略,7月上涨15%、2026年上涨23%,是S&P 500(标普500指数)年内上涨8.3%的最大点数贡献者;内存价格上涨已促使公司提高MacBook和iPad售价。
  • 微软预期市盈率约19倍,低于过去十年平均27倍;Meta约14倍,低于十年平均20倍,但受访投资经理认为业务模式变化降低了历史估值均值的解释力。

作者观点与证据

作者认为,投资者已从奖励AI资本投入转向审查投入规模、现金流消耗和潜在回报。Alphabet在云收入增长82%的同时遭遇股价重挫,为这一判断提供了直接市场证据;科技“七巨头”和半导体指数的跌幅、波动率及资本开支预测构成横向支持。关于未来出现“AI寒冬”、利润率和估值收缩的说法来自受访资产管理人与投资机构,属于前瞻判断,尚无未来订单、产能利用率或投资回报数据验证。

与相关标的的关系

GOOGL(Alphabet股票)是估值框架变化的直接案例;MSFT(微软股票)、META(Meta股票)和AMZN(亚马逊股票)面临相似的资本开支与现金流审视。AAPL(苹果股票)当前受益于较轻的AI基础设施投入,但内存成本和产品提价可能影响需求与利润率。半导体与AI基础设施公司同时受到两条路径影响:大型云厂商投入仍处高位,但资本开支收紧、客户回报压力和行业高波动可能改变订单增长预期。

时效性与限制

文章发布于美东时间 07/26 14:30(UTC+8 07/27 02:30),采集于美东时间 07/26 21:21(UTC+8 07/27 09:21)。资本开支和次年预测主要来自分析师平均估算;市场表现截至文章发布前,且微软、Meta、苹果和亚马逊当周财报尚未公布,结论可能随公司指引迅速变化。

后续跟踪

  • 微软、Meta、苹果和亚马逊公布的资本开支、自由现金流及下一季度指引。
  • AI基础设施收入增速与投入增速之间的差距。
  • 云计算合同、数据中心利用率和自研芯片部署进度。
  • SOX波动率、内存价格及芯片厂利润率变化。
原文
Big Tech earnings slam into a market in revolt over AI spending | Fortune
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Big Tech earnings

Big Tech earnings slam into a market in revolt over AI spending

By Jeran Wittenstein

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For years, US technology giants had a tacit agreement with investors: The companies could spend lavishly on artificial intelligence, and the stock market would reward them long as their revenues were rising. That deal is suddenly breaking down.

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Alphabet Inc. shares plunged more than 7% on Thursday, their worst day in over a year after the company  raised  its capital expenditures in 2026 to as much as $205 billion and reported that free cash flow turned negative in the second quarter for the first time since its 2004 initial public offering.

Nevermind that Google’s parent also delivered a whopping 82% increase in cloud-computing revenue, far surpassing Wall Street estimates. Investors were worried about all the spending.

“People are really focused on capex, obsessed with it. It used to be the more the better, but now it is the less the better,” said Jason Lemire, chief investment officer at Bold Wealth Partners. “We’re seeing capital raises, negative cash flows, rising debt. All that adds risk to the picture.”

The selloff shows how much the narrative around AI and the Magnificent Seven tech behemoths has shifted. Suddenly it’s become difficult to please investors as capex rises. That Alphabet got hit is particularly notable because it’s seen as the biggest AI winner among the group because of the popularity of its Gemini AI services, homegrown data center chips and booming cloud-computing business.

This change makes for a tough setup heading into next week, with earnings from Microsoft Corp. and Meta Platforms due on Wednesday, followed by Apple Inc. and Amazon .com Inc. on Thursday.

An index tracking the Mag Seven, which also includes Nvidia Corp. and Tesla Inc., tumbled 4.8% on Thursday following the Alphabet report, its worst day since the Trump tariff “liberation day” announcement in April 2025. It’s down 3.7% in 2026 after soaring for the last three years. As a result, the companies that have been dominating the S&P 500 Index since the AI boom began are increasingly ceding leadership to the recipients of the hundreds of billions of dollars they’re spending, like chipmakers Micron Technology Inc. and Advanced Micro Devices Inc.

Read More: Magnificent Seven Lose $797 Billion as AI Skeptics Dump Tech Stocks

Microsoft, once considered an AI leader thanks to its stake in ChatGPT owner OpenAI, is the second-weakest stock in the Mag Seven this year, plunging 21% on concerns that it’s falling behind despite spending more than $190 billion on capex in the current calendar year, according to analysts’ estimates. Meta shares have dropped 9.8% as investors question its own AI investments, while Amazon is basically flat for 2026.

Together, Alphabet, Microsoft, Amazon and Meta are projected to pump about $724 billion into capital spending this year and nearly $950 billion in 2027, according to the average of analyst estimates compiled by Bloomberg.

“We’re in a period where people are inclined to sell off on capex, and Microsoft and Meta and Amazon are all holdings hands with Alphabet and jumping in to spend,” said  Willy Lee , principal at venture firm Neostellar Capital. “We’re going to see scrutiny on all parts of their businesses as they keep spending.”

The investor revolt is also bringing urgency to questions surrounding the beneficiaries of all this spending, specifically chipmakers. The Philadelphia Stock Exchange Semiconductor Index, or SOX, was up 101% through the first half of the year but has lost 17% in July and is on pace for its worst month since June 2022, which was in the midst of the stock market’s inflation selloff.

The level of uncertainty can be seen in the 30-member chip index’s recent wild swings, with volatility over the past 100 days at the highest since 2020 when the pandemic was roiling the stock market. The SOX has had 17 moves of 5% or more this year, matching the most since 2008, according to data compiled by Bloomberg. By contrast, the S&P 500 and tech-heavy Nasdaq 100 Index have had none.

“There is going to be an AI winter at some point,” Bold Wealth’s Lemire said. “When you look at how exceptional margins are — especially in memory — well, it is impossible to maintain those over a long timeframe. At some point, we will see margin compression and valuation compression, and that will have a huge impact on the market.”

On the flipside of that trade is Apple. The iPhone maker has avoided big AI outlays, opting instead to partner with model developers to power its services. Investors have rewarded that strategy in recent weeks, sending the shares up 15% in July and putting them on pace for their best month in exactly three years. The stock has gained 23% in 2026, making it the biggest points contributor to the S&P 500’s 8.3% rise.

This is not say that Apple is free of problems. Soaring demand for memory chips used in AI computing have driven Apple to raise prices on products like MacBooks and iPads. How that lands with its customers and what it will mean for its profit margins remains an open question.

Of course, the Mag Seven’s selloff has made some of the shares relatively cheap. Microsoft, for example, is priced at 19 times estimated profits, a significant discount to its average of 27 over the past decade. Meta is priced at around 14 times compared with its 10-year average of 20.

The problem is that the rush to invest in AI computing capacity is changing the companies’ business models and introducing new risks. Alphabet’s cash flow turning negative in the second quarter was eye opening to investors considering how much money it brings in from its various businesses.

All of which has made historical valuations less relevant, according to Brad Warden, senior portfolio manager at Nomura Asset Management, whose fund holds Nvidia, Alphabet, Microsoft and Amazon.

“They look cheap right now, but when you look forward at potential disruption, they are guilty until proven innocent. Is the current business model sustainable? Will economics get worse?” said Warden, who expects the AI spenders to see returns from their investments. “It really comes down to what pain you’re willing to endure in an investment cycle and how strongly you believe you’ll ultimately get the economics on the other end of the cycle.”

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美联储七月议息会议临近

重要性4/5 中高

七月FOMC会议临近,官方日历对跨资产事件定位有直接价值;来源权威,但缺少政策内容与方向性证据。

中文摘要

核心结论

美联储官方日历确认,FOMC(联邦公开市场委员会)将在 07/28—07/29 举行 2026 年第五次例会;该会议不附经济预测摘要。页面只提供会议安排与文件发布机制,没有利率决定、政策倾向或经济判断。

重要性评级

评级:4/5(中高)

七月会议临近,日历对美国利率、美元、美股、黄金和加密资产的事件时间定位具有直接价值。来源为美联储官网,可信度高,但信息仅限日程,无法支持政策方向判断。

关键事实

  • FOMC 每年举行 8 次例会,必要时可召开其他会议。
  • 2026 年会议依次为 01/27—01/28、03/17—03/18、04/28—04/29、06/16—06/17、07/28—07/29、09/15—09/16、10/27—10/28和12/08—12/09。
  • 03 月、06 月、09 月和 12 月会议附经济预测摘要;07/28—07/29会议不附该材料。
  • 例会纪要通常在政策决定日期三周后发布。
  • 06/16—06/17会议纪要已于07/08发布。
  • 2027 年同样安排 8 次例会,其中 03 月、06 月、09 月和12月会议附经济预测摘要。
  • 2028 年首场会议暂定于01/25—01/26;未来会议日期需在前一次会议上确认。

作者观点与证据

页面是美联储发布的官方日程与文件索引,不包含作者评论。其证据价值集中在会议日期、经济预测摘要对应场次、声明与纪要入口及纪要发布惯例;页面不能用于推断本次会议的利率路径、投票分歧或新闻发布会措辞。

与相关标的的关系

07/28—07/29会议构成美国利率和美元的重要政策节点,并可通过贴现率、流动性预期与风险偏好影响美国股票、黄金及加密资产。页面未列出单一股票代码,与个股的联系仅来自宏观传导。

时效性与限制

输入元数据显示文章发布于06/17(未给出具体时刻),页面最后更新于07/08(未给出具体时刻),并于美东时间07/26 21:21(UTC+8 07/27 09:21)检索。临近会议的日程信息仍具时效性,但页面没有07月政策声明、实施说明、会议纪要或经济数据分析。

后续跟踪

  • 07/29政策声明及实施说明。
  • 新闻发布会对通胀、就业与政策路径的表述。
  • 委员投票结果及异议情况。
  • 约三周后发布的会议纪要与讨论细节。
原文
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The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. Links to policy statements and minutes are in the calendars below. The minutes of regularly scheduled meetings are released three weeks after the date of the policy decision. Committee membership changes at the first regularly scheduled meeting of the year.

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The FOMC makes an annual report pursuant to the Freedom of Information Act. The FOMC FOIA Service Center provides information about the status of FOIA requests and the FOIA process.

2026 | 2025 | 2024 | 2023 | 2022 | 2021

Future Year: 2027

2026 FOMC Meetings

January

27-28

Statement:

PDF | HTML

Implementation Note

Press Conference

Statement on Longer-Run Goals and Monetary Policy Strategy

Minutes:

PDF | HTML

(Released February 18, 2026)

March

17-18*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 08, 2026)

April

28-29

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released May 20, 2026)

June

16-17*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 08, 2026)

July

28-29

September

15-16*

October

27-28

December

8-9*

* Meeting associated with a Summary of Economic Projections.

2025 FOMC Meetings

January

28-29

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released February 19, 2025)

March

18-19*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 09, 2025)

May

6-7

Statement:

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Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released May 28, 2025)

June

17-18*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 09, 2025)

July

29-30

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released August 20, 2025)

August

22 (notation vote)

Statement on Longer-Run Goals and Monetary Policy Strategy

September

16-17*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released October 08, 2025)

October

28-29

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released November 19, 2025)

December

9-10*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released December 30, 2025)

* Meeting associated with a Summary of Economic Projections.

2024 FOMC Meetings

January

30-31

Statement:

PDF | HTML

Implementation Note

Press Conference

Statement on Longer-Run Goals and Monetary Policy Strategy

Minutes:

PDF | HTML

(Released February 21, 2024)

March

19-20*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 10, 2024)

Apr/May

30-1

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released May 22, 2024)

June

11-12*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 03, 2024)

July

30-31

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released August 21, 2024)

September

17-18*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released October 09, 2024)

November

6-7

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released November 26, 2024)

December

17-18*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released January 08, 2025)

* Meeting associated with a Summary of Economic Projections.

2023 FOMC Meetings

Jan/Feb

31-1

Statement:

PDF | HTML

Implementation Note

Press Conference

Statement on Longer-Run Goals and Monetary Policy Strategy

Minutes:

PDF | HTML

(Released February 22, 2023)

March

21-22*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 12, 2023)

May

2-3

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released May 24, 2023)

June

13-14*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 05, 2023)

July

25-26

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released August 16, 2023)

September

19-20*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released October 11, 2023)

Oct/Nov

31-1

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released November 21, 2023)

December

12-13*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released January 03, 2024)

* Meeting associated with a Summary of Economic Projections.

2022 FOMC Meetings

January

25-26

Statement:

PDF | HTML

Implementation Note

Press Conference

Statement on Longer-Run Goals and Monetary Policy Strategy

Principles for Reducing the Size of the Federal Reserve's Balance Sheet

Minutes:

PDF | HTML

(Released February 16, 2022)

March

15-16*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 06, 2022)

May

3-4

Statement:

PDF | HTML

Implementation Note

Press Conference

Plans for Reducing the Size of the Federal Reserve's Balance Sheet

Minutes:

PDF | HTML

(Released May 25, 2022)

June

14-15*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 06, 2022)

July

26-27

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released August 17, 2022)

September

20-21*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released October 12, 2022)

November

1-2

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released November 23, 2022)

December

13-14*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released January 04, 2023)

* Meeting associated with a Summary of Economic Projections.

2021 FOMC Meetings

January

26-27

Statement:

PDF | HTML

Implementation Note

Press Conference

Statement on Longer-Run Goals and Monetary Policy Strategy

Minutes:

PDF | HTML

(Released February 17, 2021)

March

16-17*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released April 07, 2021)

April

27-28

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released May 19, 2021)

June

15-16*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released July 07, 2021)

July

27-28

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released August 18, 2021)

September

21-22*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released October 13, 2021)

November

2-3

Statement:

PDF | HTML

Implementation Note

Press Conference

Minutes:

PDF | HTML

(Released November 24, 2021)

December

14-15*

Statement:

PDF | HTML

Implementation Note

Press Conference

Projection Materials

PDF | HTML

Minutes:

PDF | HTML

(Released January 05, 2022)

* Meeting associated with a Summary of Economic Projections.

2027 FOMC Meetings

January

26-27

March

16-17*

April

27-28

June

8-9*

July

27-28

September

14-15*

October

26-27

December

7-8*

* Meeting associated with a Summary of Economic Projections.

Note: A two-day meeting is scheduled for January 25-26, 2028. Each meeting date is tentative until confirmed at the meeting immediately preceding it.

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July 08, 2026

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美国关键经济数据发布日历

重要性5/5 高

官方日历给出数日内即将发布的国内生产总值和个人收入支出数据时间,对美国股票、利率与美元的当周事件跟踪具有直接价值。

中文摘要

核心结论

美国经济分析局公布2026年余下时间的数据发布日程。最近的关键窗口集中在07/30,第二季度国内生产总值初值与6月个人收入和支出将在同一时点发布,随后依次更新贸易、企业利润、国际收支和地区经济数据。

重要性评级

评级:5/5(高)

这是美国经济分析局的官方时间表,且最近一批国内生产总值和通胀相关数据将在数日内发布。日程直接关系美国股票、美国利率和USD(美元)的事件风险安排,来源权威且时间明确。

关键事实

  • GDP(国内生产总值)2026年第二季度初值与6月个人收入和支出定于美东时间 07/30 08:30(UTC+8 07/30 20:30)同时发布。
  • 6月美国商品和服务国际贸易数据定于美东时间 08/04 08:30(UTC+8 08/04 20:30)发布。
  • 第二季度GDP第二次估值、企业利润及7月个人收入和支出定于美东时间 08/26 08:30(UTC+8 08/26 20:30)发布。
  • 7月贸易数据定于美东时间 09/03 08:30(UTC+8 09/03 20:30)发布;第二季度国际交易与国际投资头寸定于美东时间 09/24 08:30(UTC+8 09/24 20:30)发布。
  • 第二季度GDP第三次估值、行业和企业利润、州级GDP及收入,以及8月个人收入和支出,均定于美东时间 09/30 08:30(UTC+8 09/30 20:30)发布。
  • 8月贸易数据定于美东时间 10/06 08:30(UTC+8 10/06 20:30)发布;2024年关联企业服务供应数据定于美东时间 10/06 10:00(UTC+8 10/06 22:00)发布;第三季度GDP初值和9月个人收入与支出定于美东时间 10/29 08:30(UTC+8 10/29 20:30)发布。
  • 9月贸易数据定于美东时间 11/04 08:30(UTC+8 11/04 21:30)发布,2024年美国跨国企业活动数据定于美东时间 11/20 08:30(UTC+8 11/20 21:30)发布,第三季度GDP第二次估值、企业利润及10月个人收入和支出定于美东时间 11/25 08:30(UTC+8 11/25 21:30)发布。
  • 12月安排包括县级GDP和收入、10月贸易、州级实际个人消费支出与收入、第三季度国际收支,以及第三季度GDP第三次估值和11月个人收入与支出;2025年户外休闲经济统计日期尚未确定。

作者观点与证据

该页面是行政发布日历,不包含经济预测、政策判断或市场观点。其证据价值来自美国经济分析局对发布日期和时间的官方安排;页面仅说明何时发布数据,没有提供数据结果、市场预期或历史修正幅度。

与相关标的的关系

美国股票、美国国债利率和美元均与这些宏观数据直接相关。国内生产总值、个人收入和支出及企业利润影响增长、通胀与盈利预期;贸易和国际收支数据补充外需、资本流动及美元基本面信息。页面本身无法说明数据将高于或低于预期,也不支持预判具体价格方向。

时效性与限制

页面于07/26(未给出具体时刻)更新,采集于美东时间 07/26 21:21(UTC+8 07/27 09:21)。发布日程可能由官方调整,页面没有列出市场一致预期、前值、修正规则或临时变更通知机制。

后续跟踪

  • 美东时间 07/30 08:30(UTC+8 07/30 20:30)发布的第二季度GDP初值及6月个人收入和支出。
  • 各期GDP初值、第二次估值与第三次估值之间的修正幅度。
  • PCE(个人消费支出)价格指标、实际消费及个人收入增速。
  • 官方日历的临时调整和待定项目日期。
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Release Schedule

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July 30

8:30 AM

N ews

GDP (Advance Estimate), 2nd Quarter 2026

July 30

8:30 AM

N ews

Personal Income and Outlays, June 2026

August 4

8:30 AM

N ews

U.S. International Trade in Goods and Services, June 2026

August 26

8:30 AM

N ews

GDP (Second Estimate) and Corporate Profits, 2nd Quarter 2026

August 26

8:30 AM

N ews

Personal Income and Outlays, July 2026

September 3

8:30 AM

N ews

U.S. International Trade in Goods and Services, July 2026

September 24

8:30 AM

N ews

U.S. International Transactions and Investment Position, 2nd Quarter 2026

September 30

8:30 AM

N ews

GDP (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 2nd Quarter 2026; State PCE, 2025

September 30

8:30 AM

N ews

Personal Income and Outlays, August 2026

October 6

8:30 AM

N ews

U.S. International Trade in Goods and Services, August 2026

October 6

10:00 AM

D ata

Services Supplied Through Affiliates, 2024

October 29

8:30 AM

N ews

GDP (Advance Estimate), 3rd Quarter 2026

October 29

8:30 AM

N ews

Personal Income and Outlays, September 2026

November 4

8:30 AM

N ews

U.S. International Trade in Goods and Services, September 2026

November 20

8:30 AM

N ews

Activities of U.S. Multinational Enterprises, 2024

November 25

8:30 AM

N ews

GDP (Second Estimate) and Corporate Profits, 3rd Quarter 2026

November 25

8:30 AM

N ews

Personal Income and Outlays, October 2026

December 2

8:30 AM

N ews

GDP by County and Personal Income by County, 2025

December 8

8:30 AM

N ews

U.S. International Trade in Goods and Services, October 2026

December 10

8:30 AM

N ews

Real Personal Consumption Expenditures by State and Real Personal Income by State, 2025

December 18

8:30 AM

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U.S. International Transactions and Investment Position, 3rd Quarter 2026

December 23

8:30 AM

N ews

GDP (Third Estimate), Industries, Corporate Profits, State GDP, and State Personal Income, 3rd Quarter 2026

December 23

8:30 AM

N ews

Personal Income and Outlays, November 2026

To Be Announced

2026

N ews

Outdoor Recreation Economic Statistics, U.S. and States, 2025

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Manufacturers

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

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Manufacturers

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SLB增长受并购与中东扰动拉扯

重要性5/5 高

发布仅三天的公司官方季度业绩,直接覆盖SLB、全球油田服务需求、中东扰动、海上资本开支及现金流;并购调整口径和分部数据完整,阅读优先级高。

中文摘要

核心结论

SLB(油田技术与服务公司)2026年第二季度收入环比恢复,但同比增长主要来自ChampionX并购;剔除并购后,全球收入同比下降5%。中东冲突继续压制油田活动与利润率,拉美、欧洲、非洲和亚洲海上业务,以及数字化、生产系统和数据中心业务提供了部分缓冲。

重要性评级

评级:5/5(高)

这是SLB于07/24(未给出具体时刻)发布的官方季度业绩,直接反映全球油田服务需求、中东供应扰动和海上资本开支方向。财务与分部数据密度高,但管理层展望和冲突恢复路径仍属前瞻判断。

关键事实

  • 第二季度收入89.72亿美元,环比增长3%、同比增长5%;归属于SLB的净利润7.86亿美元,环比增长5%、同比下降22%。
  • 调整后EBITDA(息税折旧摊销前利润)18.99亿美元,环比增长7%、同比下降7%;利润率为21.2%,环比提高83个基点、同比下降284个基点。
  • ChampionX贡献8.70亿美元收入、2.07亿美元调整后EBITDA和1.58亿美元税前分部营业利润。剔除该并购后,全球收入同比下降5%,国际收入下降6%,北美收入下降1%。
  • 国际收入66.71亿美元,环比增长3%、同比下降3%;北美收入22.44亿美元,环比增长4%、同比增长36%。中东收入环比下降13%,拖累中东与亚洲地区收入环比下降4%,同期亚洲收入增长17%。
  • 生产系统收入37.71亿美元,环比增长7%、同比增长29%;其中ChampionX贡献8.65亿美元。剔除并购后,该分部收入同比下降1%。数字业务收入6.97亿美元,环比增长9%、同比增长18%。
  • 数字业务ARR(年度经常性收入)截至06/30为10.4亿美元,环比增长1%、同比增长15%。数据中心解决方案第二季度收入1.86亿美元,环比增长33%、同比增长80%;公司预计其年化收入运行率将在2026年末超过10亿美元、2027年末超过20亿美元。
  • 经营现金流13.6亿美元,自由现金流7.16亿美元;季度内回购1,200万股,金额6.48亿美元。董事会批准每股0.295美元季度现金股息,计划于10/08支付给09/02登记股东。
  • 全年资本投入指引维持约25亿美元。公司称中东部分国家活动已开始恢复,但全面恢复时间取决于冲突能否持久解决,生产能力修复仍需时间。

作者观点与证据

公司管理层强调中东以外地区的广泛环比增长、海上项目动能、数字化需求及数据中心扩张,并将这些业务视为2027年增长基础。收入、现金流和分部结果来自公司正式业绩披露,证据强度较高;超过10亿及20亿美元的数据中心运行率、中东恢复节奏和2027年增长判断均为管理层预测。并购使报告口径收入增长与原有业务表现出现明显差异,解读同比增速时需要同时参考剔除ChampionX后的数据。

与相关标的的关系

  • SLB:业绩直接揭示公司收入结构、利润率、现金创造能力和ChampionX整合贡献。当前压力集中在中东业务及油藏评价、建井等传统分部,增量来自生产系统、数字化和数据中心解决方案。
  • Brent(布伦特原油)与WTI(西得克萨斯中质原油):文章没有提供油价预测;相关性来自上游客户资本开支、海上开发、产能恢复和能源供应多元化对油田服务需求的传导。
  • 油田服务行业:中东活动中断与深水、勘探、增产和采收率提升需求并存,可作为观察全球服务强度和区域资本投入变化的公司级样本。

时效性与限制

文章发布于07/24(未给出具体时刻),归档检索时间为美东时间 07/26 21:21(UTC+8 07/27 09:21)。原文属于公司业绩新闻稿,调整后EBITDA、自由现金流等属于非通用会计准则指标;数据中心目标、协同效应及冲突后的业务恢复均可能因客户开支、地缘局势和项目进度变化而偏离。

后续跟踪

  • 中东各国油田活动、停产产能、设备需求和物流修复进度。
  • ChampionX剔除口径下的收入增速、生产系统利润率及并购协同兑现情况。
  • 数字业务ARR增长,以及数据中心解决方案年化收入运行率和Meta加拿大1吉瓦项目交付节奏。
  • 自由现金流、25亿美元资本投入计划与股东回报之间的变化。
原文
SLB Announces Second-Quarter 2026 Results | SLB

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SLB Announces Second-Quarter 2026 Results

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SLB Announces Second-Quarter 2026 Results

24 July 2026

Q2 2026 Earnings Release PDF 256.2 KB

Q2 2026 SLB Earnings Conference Call

Q2 2026 Earnings Conference Call Prepared Remarks 95.9 KB

Q2 2026 Earnings Conference Call Transcript 1.4 MB

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Revenue of $8.97 billion increased 3% sequentially and 5% year on year

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GAAP EPS of $0.52 increased 4% sequentially and decreased 30% year on year

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EPS, excluding charges and credits, of $0.55 increased 6% sequentially and decreased 26% year on year

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Net income attributable to SLB of $786 million increased 5% sequentially and decreased 22% year on year

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Adjusted EBITDA of $1.90 billion increased 7% sequentially and decreased 7% year on year

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Cash flow from operations was $1.36 billion and free cash flow was $716 million

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Board approved quarterly cash dividend of $0.295 per share

LONDON --(BUSINESS WIRE)--Jul. 24, 2026--

SLB (NYSE: SLB ) today announced results for the second-quarter 2026.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722694386/en/

The exterior of the SLB headquarters in Houston, Texas .

Second-Quarter Results

(Stated in millions, except per share amounts)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

$8,972

$8,721

$8,546

3%

5%

Income before taxes - GAAP basis

$1,018

$956

$1,285

6%

-21%

Income before taxes margin - GAAP basis

11.3%

11.0%

15.0%

38 bps

-369 bps

Net income attributable to SLB - GAAP basis

$786

$752

$1,014

5%

-22%

Diluted EPS - GAAP basis

$0.52

$0.50

$0.74

4%

-30%

Adjusted EBITDA*

$1,899

$1,773

$2,051

7%

-7%

Adjusted EBITDA margin*

21.2%

20.3%

24.0%

83 bps

-284 bps

Pretax segment operating income*

$1,404

$1,321

$1,584

6%

-11%

Pretax segment operating margin*

15.6%

15.2%

18.5%

49 bps

-289 bps

Net income attributable to SLB , excluding charges & credits*

$833

$783

$1,016

6%

-18%

Diluted EPS, excluding charges & credits*

$0.55

$0.52

$0.74

6%

-26%

Revenue by Geography

International

$6,671

$6,471

$6,847

3%

-3%

North America

2,244

2,167

1,655

4%

36%

Other

57

83

44

n/m

n/m

$8,972

$8,721

$8,546

3%

5%

SLB acquired ChampionX during the third quarter of 2025. The acquired ChampionX businesses contributed $870 million of revenue, $207 million of adjusted EBITDA and $158 million of pretax segment operating income in the second quarter of 2026. Excluding the impact of this acquisition, SLB 's second-quarter 2026 global revenue decreased 5% year on year; international second-quarter 2026 revenue decreased 6% year on year; and North America second-quarter 2026 revenue decreased 1% year on year.

*These are non-GAAP financial measures. See sections titled "Charges & Credits", "Divisions" and "Supplementary Information" for details.

n/m = not meaningful

(Stated in millions)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue by Division

Digital

$697

$640

$591

9%

18%

Reservoir Performance

1,556

1,594

1,691

-2%

-8%

Well Construction

2,742

2,797

2,963

-2%

-7%

Production Systems

3,771

3,508

2,932

7%

29%

All Other

505

443

583

14%

-13%

Eliminations

(299)

(261)

(214)

n/m

n/m

$8,972

$8,721

$8,546

3%

5%

Pretax segment operating income

Digital

$194

$134

$153

44%

27%

Reservoir Performance

232

257

314

-10%

-26%

Well Construction

417

424

551

-2%

-24%

Production Systems

586

497

491

18%

19%

All Other

142

113

155

26%

-8%

Eliminations

(167)

(104)

(80)

n/m

n/m

$1,404

$1,321

$1,584

6%

-11%

Pretax segment operating margin

Digital

27.8%

20.9%

25.9%

683 bps

187 bps

Reservoir Performance

14.9%

16.1%

18.6%

-121 bps

-370 bps

Well Construction

15.2%

15.2%

18.6%

6 bps

-338 bps

Production Systems

15.5%

14.2%

16.7%

138 bps

-120 bps

All Other

28.2%

25.5%

26.7%

267 bps

151 bps

Eliminations

n/m

n/m

n/m

n/m

n/m

15.6%

15.2%

18.5%

49 bps

-289 bps

Adjusted EBITDA

Digital

$242

$167

$186

45%

30%

Reservoir Performance

349

369

421

-5%

-17%

Well Construction

578

584

720

-1%

-20%

Production Systems

738

648

582

14%

27%

All Other

227

197

275

15%

-17%

Eliminations

(101)

(37)

(10)

n/m

n/m

$2,033

$1,929

$2,174

5%

-6%

Corporate & other

(134)

(155)

(123)

n/m

n/m

$1,899

$1,773

$2,051

7%

-7%

Adjusted EBITDA margin

Digital

34.7%

26.1%

31.5%

860 bps

324 bps

Reservoir Performance

22.4%

23.1%

24.9%

-73 bps

-248 bps

Well Construction

21.1%

20.9%

24.3%

19 bps

-321 bps

Production Systems

19.6%

18.5%

19.9%

109 bps

-28 bps

All Other

44.9%

44.4%

47.2%

53 bps

-225 bps

Eliminations

n/m

n/m

n/m

n/m

n/m

22.7%

22.1%

25.4%

54 bps

-278 bps

Corporate & other

n/m

n/m

n/m

n/m

n/m

21.2%

20.3%

24.0%

83 bps

-284 bps

ChampionX contributed $34 million of Digital revenue and $865 million of Production Systems revenue in the second quarter of 2026. Excluding the impact of this acquisition, Digital second-quarter 2026 revenue increased 12% year on year while Production Systems revenue decreased 1% year on year.

n/m = not meaningful

Broad-Based International Growth More than Offset Impact of Middle East Disruptions

" SLB delivered solid second-quarter results, as broad-based sequential growth across international markets — led by offshore activity in Latin America , Europe & Africa and Asia — more than offset the impact of continued disruptions in the Middle East ," said SLB Chief Executive Officer Olivier Le Peuch .

"Excluding the Middle East , revenue grew sequentially across all Divisions, supported by higher offshore activity, a rebound in U.S . unconventionals and strong demand for production and recovery solutions.

"Importantly, this quarter marked a return to year-on-year revenue growth outside the Middle East , reinforcing our view of the favorable investment backdrop for the industry. This growth is driven by customers’ increased focus on energy security, supply diversification, and production capacity expansion,” Le Peuch said.

Production Systems and Digital Drive Sequential Growth

"Production Systems revenue grew 7% sequentially supported by U.S . unconventionals and international markets, as customers increasingly prioritized solutions that enhance production, improve recovery and extend asset life. This drove growth in artificial lift, valves, surface production systems and production chemicals, further highlighting the strategic value of ChampionX in our portfolio.

"Production Systems also benefited from increased subsea activity, reflecting growing momentum in long-cycle offshore investment as customers advance key developments and sanction new projects.

"In Digital, revenue increased 9% sequentially, driven by strong revenue in Digital Exploration, Platforms & Applications, and Digital Operations.

"Digital, AI, and data-driven workflows are playing an increasingly important role in improving subsurface understanding, accelerating decision making, and enhancing operational performance. We continue to see strong demand for these capabilities going forward,” Le Peuch said.

Data Center Solutions Growth Accelerates on Rising Demand and Customer Expansion

“Our Data Center Solutions business maintained its strong growth trajectory during the second quarter, supported by rising demand and customer expansion. Data Center Solutions revenue in the first six months of 2026 grew 63% year on year.

“During the quarter, Meta announced plans for a new 1GW data center in Canada , and we are proud to have been selected as a delivery partner for this project.

"Beyond adding new hyperscaler customers and expanding our footprint internationally, we have widened our scope to include engineering and design. This reflects the strength of SLB 's modular and scalable off-site manufacturing and engineering capabilities — and underscores the significant opportunity ahead to support hyperscaler customers as they accelerate investments in critical digital infrastructure.

"The Data Center Solutions business remains on track to exceed $1 billion annualized revenue run rate by the end of this year. As we broaden our offering and further diversify our customer base and geographic footprint, we expect to surpass $2 billion annualized revenue run rate as we exit 2027," Le Peuch said.

Strong Foundation for 2027

"Our second-quarter performance demonstrates that growth is broadening across geographies outside the Middle East and spanning both short- and long-cycle resource plays. The regional conflict has heightened the industry’s focus on supply diversification, which is expected to shape the next upcycle and is reinforcing the strategic importance of deepwater, exploration, and production and recovery activities.

“In the Middle East , the first-half revenue decline reflected lower activity and operational disruptions associated with the conflict. While activity began to recover in certain countries during the second quarter, the timing of a full recovery remains uncertain and will depend on a durable resolution of the conflict. As activity improves, we expect the return to full production capacity to take time.

“The recovery will require higher service intensity — particularly in well intervention — as well as increased equipment demand, infrastructure repair and the realignment of shipping logistics. With our differentiated technology, execution capabilities and regional scale, SLB is well positioned to support customers as activity and production normalize.

"Looking ahead, the combination of improving activity in the Middle East , strengthening offshore momentum led by exploration and deepwater, stronger demand for production and recovery solutions, continued Digital growth and increasing adoption of our Data Center Solutions business provides a strong foundation for SLB 's growth heading into 2027," Le Peuch concluded.

Other Events

During the quarter, SLB repurchased 12 million shares of its common stock for a total purchase price of $648 million .

During the quarter, SLB completed the acquisition of Tachyus Corp. , a Houston -based technology company specializing in high-speed reservoir modeling and optimization. This acquisition strengthens SLB’s digital portfolio with differentiated physics-based reservoir modeling capabilities that enable faster reservoir management decisions to maximize recovery. The transaction also helps bridge development planning and production execution across complex and mature assets.

On July 23, 2026 , SLB’s Board of Directors approved a quarterly cash dividend of $0.295 per share of outstanding common stock, payable on October 8, 2026 , to stockholders of record on September 2, 2026 .

Second-Quarter Revenue by Geographical Area

Second-quarter revenue of $8.97 billion increased 3% sequentially with international revenue increasing 3% and North America revenue increasing 4%. Sequential revenue growth was broad-based with revenue increases in North America , Latin America , Europe & Africa , and Asia more than offsetting the 13% revenue decline in the Middle East due to persistent disruptions related to the conflict.

The revenue growth was supported by higher offshore activity, a rebound in U.S . unconventionals, and strong demand for production and recovery solutions.

The ChampionX businesses, acquired in July 2025 , contributed $870 million of revenue in the second quarter of 2026, consisting of $606 million in North America and $234 million in the international markets.

Excluding the impact of this acquisition, second-quarter 2026 revenue decreased 5% year on year. International second-quarter 2026 revenue decreased 6% and North America second-quarter 2026 revenue decreased 1% year on year.

(Stated in millions)

As reported

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

North America

$2,244

$2,167

$1,655

4%

36%

Latin America

1,714

1,528

1,492

12%

15%

Europe & Africa *

2,385

2,256

2,369

6%

1%

Middle East & Asia

2,572

2,687

2,986

-4%

-14%

Eliminations & other

57

83

44

n/m

n/m

$8,972

$8,721

$8,546

3%

5%

International

$6,671

$6,471

$6,847

3%

-3%

North America

$2,244

$2,167

$1,655

4%

36%

*Includes Russia and the Caspian region

n/m = not meaningful

The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2025 .

(Stated in millions)

Pro forma

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

North America

$2,244

$2,167

$2,219

4%

1%

Latin America

1,714

1,528

1,568

12%

9%

Europe & Africa *

2,385

2,256

2,456

6%

-3%

Middle East & Asia

2,572

2,687

3,075

-4%

-16%

Eliminations & other

57

83

80

n/m

n/m

$8,972

$8,721

$9,398

3%

-5%

International

$6,671

$6,471

$7,099

3%

-6%

North America

$2,244

$2,167

$2,219

4%

1%

*Includes Russia and the Caspian region

n/m = not meaningful

International

Latin America

Revenue in Latin America of $1.71 billion increased 12% sequentially driven by higher SLB OneSubsea™ revenue, increased digital exploration sales and stronger offshore drilling activity in Brazil . The sequential increase was further supported by robust production systems sales in Guyana and Mexico .

Year on year, revenue increased 9% reflecting higher SLB OneSubsea revenue, increased digital exploration sales in Brazil , and strong offshore and land drilling activity across the region.

Europe & Africa

Revenue in Europe & Africa of $2.39 billion increased 6% sequentially. The growth was driven by higher SLB OneSubsea revenue in Scandinavia and Nigeria , increased artificial lift sales in Libya , and stronger intervention and stimulation activity across the area.

Year on year, revenue decreased 3%, primarily due to lower production systems sales in Turkey and Libya , as well as a decline in SLB Capturi™ revenue due to completion of project milestones. These decreases were partially offset by higher stimulation, intervention and evaluation revenue in the UK North Sea , Eastern Europe , Azerbaijan and Turkmenistan .

Middle East & Asia

Revenue in the Middle East & Asia of $2.57 billion decreased 4% sequentially, reflecting a 13% decline in the Middle East , partially offset by a 17% increase in Asia . The Middle East accounted for approximately 65% of the area’s revenue in the second quarter of 2026.

The decline in the Middle East was driven by lower activity levels and operational disruptions related to the regional conflict. While activity began to recover in certain countries as conditions improved, operations in other markets remained constrained by production shut-ins and security challenges. In contrast, Asia delivered double-digit sequential growth, supported by higher drilling activity and increased production systems sales in China , stronger digital exploration sales in Indonesia , and robust SLB OneSubsea revenue in India and Australia .

Year on year, revenue declined 16%, primarily due to the impact of conflict-related disruptions in the Middle East , partially offset by strong growth across Asia .

North America

Revenue in North America of $2.24 billion increased 4% sequentially. The growth was driven by higher sales of production chemicals, artificial lift, and valves in U.S . land, as well as increased revenue from Data Center Solutions. These increases were partially offset by lower drilling activity in Canada due to the spring breakup and reduced digital exploration sales in the Gulf of America.

Year on year, revenue increased 1%, driven by higher offshore drilling in the Gulf of America and strong growth in Data Center Solutions revenue, which increased 80%. These increases were largely offset by the absence of $97 million in Asset Performance Solutions (APS) revenue in Canada following the divestiture of the Palliser project at the end of the second quarter of 2025.

Second-Quarter Results by Division

Digital

(Stated in millions)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

International

$526

$443

$462

19%

14%

North America

170

197

126

-14%

35%

Other

1

-

3

n/m

n/m

$697

$640

$591

9%

18%

Pretax operating income

$194

$134

$153

44%

27%

Pretax operating margin

27.8%

20.9%

25.9%

683 bps

187 bps

Adjusted EBITDA*

242

167

186

45%

30%

Adjusted EBITDA margin*

34.7%

26.1%

31.5%

860 bps

324 bps

*These are non-GAAP financial measures. See reconciliation in the section "Supplementary Information" for details.

n/m = not meaningful

(Stated in millions)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

Platforms & Applications

$258

$241

$266

7%

-3%

Digital Operations

148

143

94

3%

57%

Digital Exploration

126

101

63

25%

100%

Professional Services

165

155

168

7%

-1%

$697

$640

$591

9%

18%

Digital second-quarter 2026 results include $34 million of revenue from ChampionX .

n/m = not meaningful

Digital revenue of $697 million increased 9% sequentially, driven by a 25% increase in Digital Exploration revenue resulting from higher sales of exploration data licenses and transfer fees in Brazil and Indonesia . Sequential growth also benefited from higher sales in Platforms & Applications, increased Professional Services and increased adoption of Digital Operations.

Year on year, revenue increased primarily due to growth in Digital Exploration, supported by strong sales in Brazil and Indonesia . Growth was also aided by an increase in Digital Operations revenue. The slight decline in Platforms & Applications was due to lower sales of perpetual licenses, partially offset by growth in SaaS-based revenue.

Annualized Recurring Revenue (ARR) for the Digital Division was $1.04 billion as of June 30, 2026 , representing a 15% increase year on year compared with $904 million as of June 30, 2025 .

Digital pretax operating margin was 28%, expanding 683 basis points (bps) sequentially, primarily due to higher sales of exploration data licenses and transfer fees, as well as improved profitability in Digital Operations and Platforms & Applications.

Year on year, pretax operating margin expanded 187 bps, reflecting higher sales of exploration data licenses and transfer fees, together with increased profitability in Digital Operations and Platforms & Applications.

For a description of the revenue categories comprising the Digital Division, please refer to Question 10 of the Supplementary Information. Revenue, pretax operating income, and adjusted EBITDA for the Digital Division for the first six months of 2026 and 2025 are provided in Question 11. For the definition of ARR, please refer to Question 12.

Reservoir Performance

(Stated in millions)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

International

$1,409

$1,445

$1,541

-3%

-9%

North America

147

143

148

3%

-1%

Other

0

6

2

n/m

n/m

$1,556

$1,594

$1,691

-2%

-8%

Pretax operating income

$232

$257

$314

-10%

-26%

Pretax operating margin

14.9%

16.1%

18.6%

-121 bps

-370 bps

Adjusted EBITDA*

349

369

421

-5%

-17%

Adjusted EBITDA margin*

22.4%

23.1%

24.9%

-73 bps

-248 bps

*These are non-GAAP financial measures. See reconciliation in the section "Supplementary Information" for details.

n/m = not meaningful

Reservoir Performance revenue of $1.56 billion decreased 2% sequentially, primarily due to lower evaluation, stimulation and intervention activity resulting from operational disruptions related to the Middle East conflict. While activity in the Middle East began to recover in certain countries as conditions improved, operations in some Middle East countries remained constrained by production shut-ins and ongoing security challenges. In North America , revenue increased, led by stronger U.S . land activity, despite the impact of the Canadian spring breakup. Revenue in Latin America was slightly lower, as strong growth in offshore Mexico was more than offset by reduced stimulation and intervention activity in Argentina . Revenue in Europe & Africa and Asia increased by double digits sequentially, driven by robust stimulation and intervention activity across the regions.

Year on year, revenue declined 8%, largely reflecting the impact of disruptions associated with the Middle East conflict. Revenue in Latin America was also lower, while revenue in Europe & Africa and Asia increased and North America revenue remained relatively stable.

Reservoir Performance pretax operating margin of 15% contracted 121 bps sequentially primarily due to lower profitability in evaluation and intervention activities, partially offset by improved margins in stimulation.

Year on year, pretax operating margin contracted 370 bps, largely due to the operational disruptions in the Middle East .

Well Construction

(Stated in millions)

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

International

$2,156

$2,195

$2,394

-2%

-10%

North America

549

548

512

0%

7%

Other

37

54

57

n/m

n/m

$2,742

$2,797

$2,963

-2%

-7%

Pretax operating income

$417

$424

$551

-2%

-24%

Pretax operating margin

15.2%

15.2%

18.6%

6 bps

-338 bps

Adjusted EBITDA*

578

584

720

-1%

-20%

Adjusted EBITDA margin*

21.1%

20.9%

24.3%

19 bps

-321 bps

*These are non-GAAP financial measures. See reconciliation in the section "Supplementary Information" for details.

n/m = not meaningful

Well Construction revenue of $2.74 billion decreased 2% sequentially, reflecting the impact of disruptions associated with the Middle East conflict. The decline was partially offset by higher offshore drilling activity in Latin America , particularly in Guyana , Brazil and Mexico , as well as increased land drilling activity in Argentina and Ecuador . Revenue in North America was essentially flat, with stronger U.S . land activity being offset by the impact of the Canadian spring breakup. Revenue in Europe & Africa declined slightly, while Asia revenue increased modestly, supported by robust drilling activity in China .

Year on year, revenue declined 7%, primarily due to lower activity resulting from the Middle East conflict. This decrease was partially offset by higher offshore drilling activity in Latin America , Europe & Africa , and the Gulf of America.

Well Construction pretax operating margin of 15% was essentially flat sequentially, as lower profitability in the Middle East was offset by improved profitability in other areas.

Year on year, pretax operating margin contracted 338 bps, primarily due to lower profitability in the Middle East , partially offset by improved profitability in North America and Latin America .

Production Systems

(Stated in millions)

As reported

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

International

$2,478

$2,272

$2,243

9%

10%

North America

1,259

1,206

685

4%

84%

Other

34

30

4

n/m

n/m

$3,771

$3,508

$2,932

7%

29%

Pretax operating income

$586

$497

$491

18%

19%

Pretax operating margin

15.5%

14.2%

16.7%

138 bps

-120 bps

Adjusted EBITDA*

738

648

582

14%

27%

Adjusted EBITDA margin*

19.6%

18.5%

19.9%

109 bps

-28 bps

*These are non-GAAP financial measures. See reconciliation in the section "Supplementary Information" for details.

n/m = not meaningful

Production Systems revenue of $3.77 billion increased 7% sequentially, driven by strong growth in Latin America , Europe & Africa , Asia and North America , despite a decline in the Middle East due to disruptions associated with the regional conflict. Sequential growth was supported by higher revenue from SLB OneSubsea, along with increased sales of artificial lift, valves, surface production systems and completions.

Year on year, revenue increased 29%, primarily reflecting the contribution from the acquired ChampionX production chemicals and artificial lift businesses. These acquired businesses contributed $865 million in revenue and $155 million in pretax operating income during the second quarter of 2026.

Excluding the impact of the acquisition, Production Systems second-quarter 2026 revenue decreased 1% year on year. Strong growth in SLB OneSubsea and valves was more than offset by lower sales of surface production systems, production chemicals, completions and artificial lift, primarily due to disruptions related to the Middle East conflict. Outside the Middle East , Production Systems grew 3% year on year.

Production Systems pretax operating margin was 16%, expanding 138 bps sequentially, driven by improved profitability in SLB OneSubsea and artificial lift. Margin expanded also due to the accretive contribution of ChampionX’s production chemicals and artificial lift businesses. Notably, ChampionX delivered sequential pretax operating margin expansion for the third consecutive quarter.

Year on year, pretax operating margin contracted by 120 bps, primarily due to lower profitability in surface production systems and completions. This decline was partially offset by the accretive contribution from ChampionX’s production chemicals and artificial lift businesses.

The following table and commentary are presented on a pro forma basis assuming that ChampionX was acquired on January 1, 2025 .

(Stated in millions)

Pro forma

Three Months Ended

Change

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Sequential

Year-on-year

Revenue

International

$2,478

$2,272

$2,496

9%

-1%

North America

1,259

1,206

1,247

4%

1%

Other

34

30

37

n/m

n/m

$3,771

$3,508

$3,780

7%

-

Production Systems revenue of $3.77 billion was essentially flat year on year. Strong growth across Latin America , Europe & Africa , Asia and North America largely compensated for lower revenue in the Middle East , where operations continued to be affected by disruptions associated with the regional conflict.

All Other

All Other is comprised of APS, Data Center Solutions and SLB Capturi.

Revenue increased 14% sequentially due to 33% higher revenue in Data Center Solutions while APS revenue was flat. Year on year, revenue declined 13%, primarily due to lower APS revenue following the divestiture of the Palliser asset in Canada at the end of the second quarter of 2025, coupled with reduced revenue in SLB Capturi. This decline was partially offset by an 80% increase in Data Center Solutions revenue.

Pretax operating income increased sequentially due to improved profitability in Data Center Solutions and APS. Pretax operating income declined year on year due to lower profitability in APS projects following the Palliser divestiture.

Quarterly Highlights

Core

Contract Awards

SLB continues to win new contract awards that align with SLB’s strengths in the Core. Notable highlights include the following:

-

In the Gulf of America, SLB OneSubsea joint venture was awarded a contract by bp to provide a subsea boosting system for the Thunder Horse deepwater development project. This engineering, procurement and construction contract for Thunder Horse follows recent subsea boosting contract awards for bp’s Kaskida and Tiber developments. All three projects leverage the same supplier-led, standardized subsea boosting system solution, which helps improve execution efficiency and shorten delivery times.

-

Also, in the Gulf of America, SLB OneSubsea was awarded a contract by Beacon Offshore Energy Exploration and Production LLC to deliver a high‑pressure, high‑temperature (HPHT) multiphase boosting system for the Shenandoah field. The award reflects continued investment in deepwater developments, where advanced subsea production systems are being applied to improve recovery. OneSubsea’s HPHT multiphase boosting system is engineered to operate reliably above 15,000 psi, addressing operating conditions that exceed the limits of conventional subsea solutions.

-

Offshore Indonesia , SLB OneSubsea was awarded a contract by Eni North Ganal Limited (a subsidiary of Searah Limited , a joint venture company between Eni and PETRONAS ) to deliver a steel tube umbilical system for the Kutei North Hub field development project in East Kalimantan . Supporting one of the region’s most significant deepwater developments, OneSubsea will engineer, procure and manufacture 94.6 kilometers of umbilical for water depths of up to 2,200 meters. With a total system weight of approximately 6,700 tons, the project represents one of the largest umbilical contracts awarded in the industry to date.

-

In Kuwait , SLB was awarded a seven-year contract by Kuwait Oil Company (KOC) under the Ahmadi Innovation Valley initiative. The agreement will support applied research, technology deployment and digital innovation programs aligned with Kuwait's long-term energy objectives. Under the agreement, SLB will work with KOC to evaluate, test and deploy advanced technologies across a range of operational and strategic priorities, including AI, industrial internet of things (IIoT) applications, production optimization, reservoir technologies, water management and energy transition initiatives.

-

Also in Kuwait , KOC awarded SLB a five-year contract to deliver bits for both land and offshore drilling operations as well as a significant contract award for cementing and related services in conventional and unconventional scopes. SLB will deploy advanced bits and reverse circulation technologies tailored for KOC’s subsurface environment, addressing the complexity of local geological conditions. These high-performance drilling solutions are engineered to enhance efficiency and reduce well construction costs. The cementing award underscores SLB’s commitment to innovative technologies, operational excellence and sustainable value — all while supporting KOC in driving safety, performance and long-term value creation in Kuwait .

-

In India , Oil and Natural Gas Corporation (ONGC) awarded SLB a significant deepwater drilling contract to support the drilling of 24 wells over four years for its offshore energy development. Under the agreement, SLB will deliver integrated drilling services and technologies to support efficient execution in complex deepwater environments. By combining advanced drilling technologies, digital workflows and deep domain expertise, SLB will optimize well performance, improve operational efficiency and reduce execution risk across the campaign. The project supports ONGC’s strategy to accelerate domestic hydrocarbon production through efficient and cost-effective offshore development while reinforcing SLB’s position as a trusted partner for complex deepwater projects in India .

-

PTT Exploration and Production (PTTEP) awarded SLB a two-year managed pressure drilling (MPD) contract for offshore exploration. The scope includes a full MPD and pressurized mudcap drilling solution, powered by a custom compact above-tension-ring rotating control device and @balance Control™ MPD system. This achievement highlights SLB’s ability to deliver customized solutions for complex drilling environments and underscores the strength of the partnership with PTTEP . Through this collaboration, SLB continues to enhance operational efficiency and safety, reinforcing the commitment to excellence in service delivery.

-

Offshore Côte d’Ivoire, SLB OneSubsea was awarded a major multiwell engineering, procurement and construction contract by Eni for Phase 3 of the deepwater Baleine project. Under the contract, OneSubsea will deliver complete subsea production systems for 13 wells, reinforcing its role as a core technology and execution partner on one of the most strategically significant offshore developments currently underway in the region.

Technology Highlights

Notable technology introductions and deployments in the quarter include the following:

-

During the inaugural SLB Production and Recovery Summit, SLB launched its Intelligent Production Studio , an environment for digital operations. The live operating environment integrates AI, edge intelligence, connected equipment, digital twins and autonomous workflows, to show an intelligent production system in action. Built around a fully autonomous well pad managing real three-phase flow of oil, water and gas across multiple well streams, the studio enables customers to evaluate interconnected, intelligent production systems before field deployment. The facility models surveillance, anomaly detection, robotic inspection, autonomous chemical injection and closed-loop optimization to aid in field design decisions.

-

SLB launched AlphaSight™, the company’s latest innovation in reservoir mapping and drilling intelligence. The AlphaSight service leverages industry-first technologies, setting a new benchmark for visibility and control in complex drilling environments to maximize production potential. Designed to deliver clearer subsurface insight at significantly further depths, the AlphaSight service helps operators see and understand reservoir structures in real time — supporting confident drilling decisions without slowing performance.

-

Retina™ at-bit imaging system achieved strong market adoption in its first year of commercialization, with deployments in more than 50 wells across 16 locations worldwide and over 122,000 feet of data acquired. By providing high-resolution formation measurements at first contact with the rock, the Retina system delivers earlier subsurface visibility, helping operators reduce uncertainty and make more informed drilling, completion and reservoir development decisions. Successful deployments in the Gulf of America, U.S . land, East Asia and the Middle East demonstrated the system’s value across a wide range of geological and operational environments, reinforcing its growing role in improving well placement and reservoir understanding.

-

In North Africa , SLB applied an integrated approach, focusing on production enhancement, to help an operator rejuvenate a 50-year-old mature onshore field challenged by declining production, rising water cut, idle wells and legacy facilities. The multidisciplinary solution combined advanced reservoir diagnostics, targeted well interventions, facility debottlenecking and digital operations under a unified delivery model. The project unlocked 13.8 million barrels of incremental oil, delivered production results three times higher than initial forecasts, brought 90 wells online and reduced produced water volumes by 55%, demonstrating the impact of SLB’s integrated technology and execution model in improving recovery and operational efficiency across mature assets.

-

In the United Arab Emirates , SLB collaborated with a national oil company to reactivate shut-in wells in a mature onshore field using Production Express™ rapid production response solutions. The mobile surface multiphase boosting deployment increased wellhead pressure by 300 psi, restoring stable production of more than 3 million standard cubic feet per day of gas and more than 7,000 barrels per day of liquids. The solution enabled zero-flaring operations, reduced emissions for the operator and established a qualified pathway for future multiphase boosting and zero-flaring projects across onshore and offshore wells.

-

Following commercialization in the first quarter of 2026, SLB 's automated cementing technology has rapidly evolved from a pioneering digital innovation into a scalable commercial solution. Building on the industry's first fully automated cementing job in Norway , the technology has now surpassed 100 remote and automated cementing jobs, validating years of investment in automation, digital workflows and remote operations. Additionally, a key milestone was recently achieved with its first deployment in Egypt , where the cementing team successfully executed an automated dual-slurry operation on Shell's Velox-1 well, demonstrating the technology's scalability and supporting SLB 's competitive differentiation in digital well construction.

-

In the Gulf of America, SLB helped restore production from a deepwater well that had been shut in for nearly four years because of sand production challenges. Using RemedySlot™ through tubing sand screens as a targeted remedial solution, SLB avoided a full recompletion and completed the intervention in 101 hours. The well returned to stable production of more than 900 barrels per day, protecting critical subsea equipment and recovering value for the customer.

-

Across Kuwait , SLB and KOC advanced integrated water-control and injector-conformance workflows, combining powered, fiber-optic ACTive™ real-time downhole coiled tubing services, high-resolution diagnostics and engineered chemical water shutoff systems to restore reservoir performance without conventional rig workover. Across three producer and injector interventions, the workflows reduced water cut, improved injection conformance and delivered measurable oil production gains. Results included uplift to about 975 and 1,200 barrels of oil per day in two producers. The injector intervention also delivered approximately 2,100 barrels of oil per day of incremental oil from five surrounding producers, demonstrating a repeatable diagnose-to-remediate model for improved recovery. Better-connected decisions enabled fewer, more effective interventions to reduce cost while sustaining production.

Digital

SLB is deploying digital technology at scale, partnering with customers to migrate their technology and workflows into the cloud, to embrace new AI-enabled capabilities, and to leverage insights to elevate their performance. Notable highlights include the following:

-

SLB signed a long-term framework agreement with Petróleos de Venezuela, S.A. (PDVSA) to support the revitalization and modernization of Venezuela’s oil and gas sector. The MoU establishes a basis for cooperation across exploration, field development, production, digital enablement and workforce training and development. The collaboration is intended to strengthen operational execution and promote sustainable development of Venezuela’s hydrocarbon resources. It builds on SLB’s 97 years of presence in the country and reflects a shared focus on combining technology, local capability and continued sector development.

-

SLB launched its Digital Marketplace , a curated digital destination designed to help energy companies rapidly discover and deploy specialized AI agents, domain models, skills, tools, data connectors and digital applications within their existing digital environments. The SLB Digital Marketplace extends the company’s open platform strategy to its Tela™ agentic AI assistant by enabling SLB , partners, independent software vendors, developers and customers to bring purpose-built digital capabilities to the energy industry through a single, governed channel. All marketplace offerings are certified to SLB standards for security, interoperability and compatibility before listing.

-

SLB announced a memorandum of understanding (MoU) with Qualcomm Technologies, Inc. to enable edge AI solutions for the energy industry, supporting real-time operational decision making across wells, facilities and production systems. The collaboration combines Qualcomm Technologies’ low-power edge computing and AI processing capabilities, with SLB’s Agora™ edge AI and IIoT solutions developed for remote and operationally complex environments. The companies will focus on enabling AI applications across production operations using SLB’s digital production solutions and energy domain expertise together with Qualcomm Technologies’ low-power edge computing capabilities. The collaboration reflects growing industry interest in bringing AI closer to operations to support more autonomous and resilient energy systems.

-

SLB announced an expanded collaboration with Vår Energi to scale well planning and integrated field development planning across its Norwegian Continental Shelf operations. With collaborative well planning already reducing cycle times from months to days and integrated field development planning expected to support similar benefits, the expanded deployment is designed to support faster, more consistent decision making as operators work to sustain production from mature offshore assets while managing increasing development complexity.

-

Offshore southern Brazil , SLB is participating with TGS in Pelotas Sul Phase 1, a 13,500-square kilometer multiclient 3D seismic program. Building on a 2D data library developed since 2015, the survey expands SLB’s multiclient data footprint in Brazil and supports growing exploration interest in the Pelotas Basin . Acquisition is underway and expected to finish early in the third quarter of 2026. The program will provide high-quality subsurface data to help operators better evaluate largely untested deepwater opportunities across the basin.

-

In the North Sea , Adura awarded SLB a contract to scale integrated digital workflows across its subsurface and production domains. SLB is delivering a multidomain program that connects data, drilling, subsurface and production workflows, anchored by Petrel™ subsurface software standardization and the OptiFlow™ production assurance solutions. The program is designed to improve near-term performance through faster deployment and disciplined commercial execution, while advancing next-generation production workflows and supporting broader digital adoption across the basin.

-

SLB was awarded a contract by bp for seismic data processing for the Karabagh project in the Caspian Sea . This award follows two previous contract awards on other offshore oil and gas projects operated by bp in the Caspian . SLB’s deep regional expertise and longstanding presence in Azerbaijan , combined with consistent delivery of high-quality imaging and actionable reservoir insights, continue to set the standard for seismic performance in the Caspian basin.

-

In Kuwait , KOC, as part of its Kuwait Digital Integrated Field for Jurassic gas, awarded SLB four Innovation Factori™ AI collaborations. The awards include AI‑driven rig scheduling, generative AI production analytics, AI‑based log quality control and reconstruction to accelerate field development, and a three‑month AI academy to upskill KOC subject matter experts by equipping them with the most relevant and practical AI capabilities. KOC advances digital transformation across upstream operations by deploying generative AI solutions to enhance production insights, asset management and operational efficiency.

-

In India , ONGC awarded SLB a three-year, enterprise-wide contract to deploy its DrillOps™ intelligent well delivery and insights solutions across onshore and offshore operations. As part of ONGC's real-time data monitoring, management and analytics initiative, the deployment covers up to 120 rigs and includes real-time monitoring, predictive analytics and performance insights. Through centralized real-time operations at ONGC’s Institute of Drilling and Well Engineering in Dehradun, the deployment will help improve drilling consistency and performance across ONGC's drilling portfolio.

-

SLB was awarded a contract by PTTEP to pilot the deployment of Cognite Data Fusion, OptiFlow solutions and Tela™ AI advisory agents for a domestic offshore asset. This achievement represents a significant milestone in the collaboration between the SLB Innovation Factori team and PTTEP , providing a scalable data foundation and production assurance, in addition to well optimization solutions aimed at enhancing operational efficiency and supporting better decision making.

-

In China , SLB worked with China France Bohai Geoservices Co. , a subsidiary of China National Offshore Oil Company , to promote one of its offshore terminal's process performance by turning operational data into real-time action. Leveraging Innovation Factori AI collaboration, SLB integrated plant operational data with Symmetry™ process simulation software (configured as digital twins) and connected the solution to advanced process control and distributed control systems. This enabled closed-loop, real-time economic optimization beyond traditional offline studies, improving efficiency, generating actionable insights and creating sustained value through digital process optimization.

-

ExxonMobil Trinidad and Tobago Deepwater Limited awarded SLB a two-year seismic data processing project to support frontier exploration in an ultra-deepwater area. The block presents one of the industry’s most complex imaging challenges, with only sparse legacy 2D seismic data available. SLB will apply advanced seismic processing and depth-imaging workflows in its Omega™ geophysical data processing software. The workflow combines full-waveform inversion, velocity modeling, advanced source-separation technology, multicomponent streamer data processing and AI-enabled horizon interpretation. Covering nearly 6,000 square kilometers, the program will deliver the block’s first 3D image and give ExxonMobil a clearer path to evaluate this new frontier.

New Horizons of Growth

SLB is participating in high-growth markets like Data Center Solutions, through strategic innovative technology and partnerships, including the following:

-

In Canada , Meta announced a new 1GW data center to be built in Sturgeon County, Alberta , for which SLB has been selected as a delivery partner. This partnership, spanning from modular infrastructure manufacturing to building fit-out, underscores SLB’s evolving position as a full-scale deployment partner for leading global hyperscalers.

-

SLB and Ormat Technologies have selected Desert Peak in Nevada as the preferred location for a planned enhanced geothermal system (EGS) pilot, following a multisite evaluation across existing geothermal fields. SLB and Ormat’s approach is to improve development predictability and reduce execution risk in complex geothermal environments, and to industrialize EGS. Following the pilot, SLB and Ormat plan to collaborate to accelerate the commercialization of large-scale EGS solutions for customers, including data center operators, building on the companies’ October 2025 agreement to co-develop integrated geothermal assets and progress EGS from pilot to commercial deployment.

-

SLB and Liberty Energy Inc. announced an agreement to form a strategic alliance that will deliver modular infrastructure and integrated power generation solutions for new data center projects globally. Under the planned alliance, SLB will provide modular infrastructure solutions, project execution capabilities and global market reach, while Liberty will provide modular behind-the-meter power generation systems, intelligent power controls and operational expertise. The collaboration intends to support the rapid deployment of new data center capacity and help the world’s leading AI companies address increasingly complex energy requirements.

FINANCIAL TABLES

Condensed Consolidated Statement of Income

(Stated in millions, except per share amounts)

Second Quarter

Six Months

2026

2025

2026

2025

Revenue

$8,972

$8,546

$17,693

$17,035

Interest & other income

76

252

119

330

Expenses

Cost of revenue (1)

7,577

6,934

14,967

13,815

Research & engineering

171

180

335

352

General & administrative

84

87

181

184

Impairments & other (1)

69

35

110

84

Restructuring & other (1)

-

135

-

293

Interest

128

142

244

289

Income before taxes (1)

$1,019

$1,285

$1,975

$2,348

Tax expense (1)

204

237

399

471

Net income (1)

$815

$1,048

$1,576

$1,877

Net income attributable to noncontrolling interests (1)

29

34

38

66

Net income attributable to SLB (1)

$786

$1,014

$1,538

$1,811

Diluted earnings per share of SLB (1)

$0.52

$0.74

$1.02

$1.32

Average shares outstanding

1,490

1,352

1,494

1,359

Average shares outstanding assuming dilution

1,506

1,366

1,511

1,373

Depreciation & amortization included in expenses (2)

$712

$633

$1,397

$1,273

(1)

See section entitled “Charges & Credits” for details.

(2)

Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.

Condensed Consolidated Balance Sheet

(Stated in millions)

Jun. 30 ,

Dec. 31 ,

Assets

2026

2025

Current Assets

Cash and short-term investments

$4,071

$4,212

Receivables

9,132

8,689

Inventories

5,436

5,032

Other current assets

1,605

1,580

20,244

19,513

Investment in affiliated companies

1,691

1,783

Fixed assets

7,745

7,894

Goodwill

17,001

16,794

Intangible assets

4,876

4,988

Other assets

3,975

3,896

$55,532

$54,868

Liabilities and Equity

Current Liabilities

Accounts payable and accrued liabilities

$11,210

$11,490

Estimated liability for taxes on income

742

894

Short-term borrowings and current portion

of long-term debt

1,658

1,894

Dividends payable

456

443

14,066

14,721

Long-term debt

11,140

9,742

Other liabilities

3,072

3,114

28,278

27,577

Equity

27,254

27,291

$55,532

$54,868

Liquidity

(Stated in millions)

Components of Liquidity

Jun. 30 ,

2026

Mar. 31 ,

2026

Jun. 30 ,

2025

Dec. 31 ,

2025

Cash and short-term investments

$4,071

$3,387

$3,747

$4,212

Short-term borrowings and current portion of long-term debt

(1,658)

(1,938)

(2,807)

(1,894)

Long-term debt

(11,140)

(9,670)

(10,891)

(9,742)

Net Debt (1)

$(8,727)

$(8,221)

$(9,951)

$(7,424)

Details of changes in liquidity follow:

Six

Second

Six

Months

Quarter

Months

Periods Ended June 30 ,

2026

2026

2025

Net income

$1,576

$815

$1,877

Gain on sale of APS project

-

-

(149)

Impairment of equity method investment

-

-

69

Depreciation and amortization (3)

1,397

712

1,273

Stock-based compensation expense

179

78

168

Change in working capital

(1,344)

(242)

(1,401)

Other

38

(4)

(35)

Cash flow from operations

$1,846

$1,359

$1,802

Capital expenditures

(802)

(459)

(769)

APS investments

(226)

(123)

(225)

Exploration data capitalized

(125)

(61)

(83)

Free cash flow (3)

693

716

725

Stock repurchase program

(1,099)

(648)

(2,300)

Dividends paid

(866)

(440)

(773)

Proceeds from employee stock plans

211

33

113

Business acquisitions and investments, net of cash acquired plus debt assumed

(249)

(179)

(47)

Proceeds from sale of APS project

-

-

316

Taxes paid on net settled stock-based compensation awards

(63)

(4)

(55)

Other

(42)

(12)

(30)

Increase in Net Debt before impact of changes in foreign exchange rates

(1,415)

(534)

(2,051)

Impact of changes in foreign exchange rates on net debt

112

28

(495)

Increase in Net Debt

(1,303)

(506)

(2,546)

Net Debt, beginning of period

(7,424)

(8,221)

(7,405)

Net Debt, end of period

$(8,727)

$(8,727)

$(9,951)

(1)

“Net Debt” represents gross debt less cash and short-term investments. Management believes that Net Debt provides useful information to investors and management regarding the level of SLB’s indebtedness by reflecting cash and investments that could be used to repay debt. Net Debt is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, total debt.

(2)

Includes depreciation of fixed assets and amortization of intangible assets, exploration data costs, and APS investments.

(3)

“Free cash flow” represents cash flow from operations less capital expenditures, APS investments, and exploration data costs capitalized. Management believes that free cash flow is an important liquidity measure for the company and that it is useful to investors and management as a measure of SLB’s ability to generate cash. Once business needs and obligations are met, this cash can be used to reinvest in the company for future growth or to return to shareholders through dividend payments or share repurchases. Free cash flow does not represent the residual cash flow available for discretionary expenditures. Free cash flow is a non-GAAP financial measure that should be considered in addition to, not as a substitute for or superior to, cash flow from operations.

Charges & Credits

In addition to financial results determined in accordance with US generally accepted accounting principles (GAAP), this second-quarter 2026 earnings release also includes non-GAAP financial measures (as defined under the SEC’s Regulation G). In addition to the non-GAAP financial measures discussed under “Liquidity”, SLB net income, excluding charges & credits, as well as measures derived from it (including diluted EPS, excluding charges & credits; effective tax rate, excluding charges & credits; adjusted EBITDA and adjusted EBITDA margin) are non-GAAP financial measures. Management believes that the exclusion of charges & credits from these financial measures provides useful perspective on SLB’s underlying business results and operating trends, and a means to evaluate SLB’s operations period over period. These measures are also used by management as performance measures in determining certain incentive compensation. The foregoing non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. The following is a reconciliation of certain of these non-GAAP measures to the comparable GAAP measures. For a reconciliation of adjusted EBITDA to the comparable GAAP measure, please refer to the section titled “Supplementary Information” (Question 8).

(Stated in millions, except per share amounts)

Second Quarter 2026

Pretax

Tax

Noncont.

Interests

Net

Diluted

EPS

Net income attributable to SLB (GAAP basis)

$1,019

$204

$29

$786

$0.52

Merger and integration (1)

69

19

3

47

0.03

Net income attributable to SLB , excluding charges & credits

$1,088

$223

$32

$833

$0.55

First Quarter 2026

Pretax

Tax

Noncont.

Interests

Net

Diluted

EPS

Net income attributable to SLB (GAAP basis)

$956

$195

$9

$752

$0.50

Merger and integration (1)

41

8

2

31

0.02

Net income attributable to SLB , excluding charges & credits

$997

$203

$11

$783

$0.52

Second Quarter 2025

Pretax

Tax

Noncont.

Interests

Net

Diluted

EPS

Net income attributable to SLB (GAAP basis)

$1,285

$237

$34

$1,014

$0.74

Impairment of equity method investment (2)

69

12

-

57

0.04

Workforce reductions (2)

66

3

-

63

0.05

Merger & integration (1)

35

4

4

27

0.02

Gain on sale of Palliser APS project (3)

(149)

(4)

-

(145)

(0.11)

Net income attributable to SLB , excluding charges & credits

$1,306

$252

$38

$1,016

$0.74

(Stated in millions, except per share amounts)

Six Months 2026

Pretax

Tax

Noncont.

Interests

Net

Diluted

EPS

Net income attributable to SLB (GAAP basis)

$1,975

$399

$38

$1,538

$1.02

Merger and integration (1)

110

27

5

78

0.05

Net income attributable to SLB , excluding charges & credits

$2,085

$426

$43

$1,616

$1.07

Six Months 2025

Pretax

Tax

Noncont.

Interests

Net

Diluted

EPS *

Net income attributable to SLB (GAAP basis)

$2,348

$471

$66

$1,811

$1.32

Workforce reductions (2)

224

14

-

210

0.15

Merger & integration (1)

84

4

8

72

0.05

Impairment of equity method investment (2)

69

12

-

57

0.04

Gain on sale of Palliser APS project (3)

(149)

(4)

-

(145)

(0.11)

Net income attributable to SLB , excluding charges & credits

$2,576

$497

$74

$2,005

$1.46

* Does not add due to rounding

(1)

Classified in Merger & integration in the Condensed Consolidated Statement of Income .

(2)

Classified in Restructuring & other in the Condensed Consolidated Statement of Income .

(3)

Classified in Interest & other income in the Condensed Consolidated Statement of Income .

Divisions

(Stated in millions)

Second Quarter 2026

First Quarter 2026

Second Quarter 2025

Revenue

Income

Before

Taxes

Revenue

Income

Before

Taxes

Revenue

Income

Before

Taxes

Digital

$697

$194

$640

$134

$591

$153

Reservoir Performance

1,556

232

1,594

257

1,691

314

Well Construction

2,742

417

2,797

424

2,963

551

Production Systems

3,771

586

3,508

497

2,932

491

All Other

505

142

443

113

583

155

Eliminations & other

(299)

(167)

(261)

(104)

(214)

(80)

Pretax segment operating income

1,404

$1,321

1,584

Corporate & other

(211)

(228)

(169)

Interest income (1)

23

20

30

Interest expense (1)

(128)

(116)

(139)

Charges & credits (2)

(69)

(41)

(21)

$8,972

$1,019

$8,721

$956

$8,546

$1,285

(Stated in millions)

Six Months Ended

Jun. 30, 2026

Jun. 30, 2025

Revenue

Income

Before

Taxes

Revenue

Income

Before

Taxes

Digital

$1,337

$328

$1,177

$278

Reservoir Performance

3,150

489

3,391

596

Well Construction

5,539

841

5,940

1,140

Production Systems

7,279

1,083

5,773

962

All Other

948

255

1,145

317

Eliminations & other

(560)

(271)

(391)

(153)

Pretax segment operating income

2,725

3,140

Corporate & other

(439)

(347)

Interest income (1)

43

66

Interest expense (1)

(244)

(283)

Charges & credits (2)

(110)

(228)

$17,693

$1,975

$17,035

$2,348

(Stated in millions)

Second Quarter 2026

Revenue

Income

Before

Taxes

Depreciation and

Amortization (3)

Net Interest

Expense

(Income) (4)

Adjusted

EBITDA (5)

Digital

$697

$194

$48

$-

$242

Reservoir Performance

1,556

232

118

(1)

349

Well Construction

2,742

417

161

-

578

Production Systems

3,771

586

152

-

738

All Other

505

142

85

-

227

Eliminations & other

(299)

(167)

71

(5)

(101)

Pretax segment operating income

1,404

Corporate & other

(211)

77

(134)

Interest income (1)

23

Interest expense (1)

(128)

Charges & credits (2)

(69)

$8,972

$1,019

$712

$(6)

$1,899

(Stated in millions)

First Quarter 2026

Revenue

Income

Before

Taxes

Depreciation and

Amortization (3)

Net Interest

Expense

(Income) (4)

Adjusted

EBITDA (5)

Digital

$640

$134

$33

$-

$167

Reservoir Performance

1,594

257

113

(1)

369

Well Construction

2,797

424

161

(1)

584

Production Systems

3,508

497

152

(1)

648

All Other

443

113

84

-

197

Eliminations & other

(261)

(104)

69

(2)

(37)

Pretax segment operating income

1,321

Corporate & other

(228)

73

(155)

Interest income (1)

20

Interest expense (1)

(116)

Charges & credits (2)

(41)

$8,721

$956

$685

$(5)

$1,773

(Stated in millions)

Second Quarter 2025

Revenue

Income

Before

Taxes

Depreciation and

Amortization (3)

Net Interest

Expense

(Income) (4)

Adjusted

EBITDA (5)

Digital

$591

$153

$33

$-

$186

Reservoir Performance

1,691

314

107

-

421

Well Construction

2,963

551

169

-

720

Production Systems

2,932

491

91

-

582

All Other

583

155

117

3

275

Eliminations & other

(214)

(80)

71

(1)

(10)

Pretax segment operating income

1,584

Corporate & other

(169)

45

(123)

Interest income (1)

30

Interest expense (1)

(139)

Charges & credits (2)

(21)

$8,546

$1,285

$633

$2

$2,051

(Stated in millions)

Six Months 2026

Revenue

Income

Before

Taxes

Depreciation and

Amortization (3)

Net Interest

Expense

(Income) (4)

Adjusted

EBITDA (5)

Digital

$1,337

$328

$81

$-

$409

Reservoir Performance

3,150

489

231

(2)

718

Well Construction

5,539

841

322

(1)

1,162

Production Systems

7,279

1,083

304

(1)

1,386

All Other

948

255

169

-

424

Eliminations & other

(560)

(271)

140

(7)

(138)

Pretax segment operating income

2,725

Corporate & other

(439)

150

(289)

Interest income (1)

43

Interest expense (1)

(244)

Charges & credits (2)

(110)

$17,693

$1,975

$1,397

$(11)

$3,672

(Stated in millions)

Six Months 2025

Revenue

Income

Before

Taxes

Depreciation and

Amortization (3)

Net Interest

Expense

(Income) (4)

Adjusted

EBITDA (5)

Digital

$1,177

$278

$89

$-

$367

Reservoir Performance

3,391

596

211

(1)

806

Well Construction

5,940

1,140

333

(1)

1,472

Production Systems

5,773

962

181

-

1,143

All Other

1,145

317

227

7

551

Eliminations & other

(391)

(153)

142

1

(10)

Pretax segment operating income

3,140

Corporate & other

(347)

90

(257)

Interest income (1)

66

Interest expense (1)

(283)

Charges & credits (2)

(228)

$17,035

$2,348

$1,273

$6

$4,072

(1)

Excludes amounts which are included in the segments’ results.

(2)

See section entitled “Charges & Credits” for details.

(3)

Includes depreciation of fixed assets and amortization of intangible assets, APS and exploration data costs.

(4)

Excludes interest income and interest expense recorded at the corporate level.

(5)

Adjusted EBITDA represents income before taxes excluding depreciation and amortization, interest income, interest expense and charges & credits.

Supplementary Information

Frequently Asked Questions

1)

What is the capital investment guidance for the full-year 2026?

Capital investment (consisting of capex, exploration data costs and APS investments) for the full-year 2026 is still expected to be approximately $2.5 billion . Capital investment for the full-year 2025 was $2.4 billion .

2)

What were the cash flow from operations and free cash flow for the second quarter of 2026?

Cash flow from operations for the second quarter of 2026 was $1.36 billion and free cash flow was $716 million .

3)

What was included in “Interest & other income” for the second quarter of 2026?

“Interest & other income” for the second quarter of 2026 was $76 million . This consisted of interest income of $29 million and earnings of equity method investments of $47 million .

4)

How did interest income and interest expense change during the second quarter of 2026?

Interest income of $29 million for the second quarter of 2026 increased $3 million sequentially. Interest expense of $128 million increased $12 million sequentially.

5)

What was the effective tax rate (ETR) for the second quarter of 2026?

The ETR for the second quarter of 2026, calculated in accordance with GAAP, was 20.0% as compared to 20.3% for the first quarter of 2026. Excluding charges and credits, the ETR for the second quarter of 2026 was 20.5% as compared to 20.3% for the first quarter of 2026.

6)

How many shares of common stock were outstanding as of June 30, 2026 , and how did this change from the end of the previous quarter?

There were 1.484 billion shares of common stock outstanding as of June 30, 2026 , and 1.495 billion shares outstanding as of March 31, 2026 .

(Stated in millions)

Shares outstanding at March 31, 2026

1,495

Shares issued to optionees, less shares exchanged

1

Vesting of restricted stock

-

Stock repurchase program

(12)

Shares outstanding at June 30, 2026

1,484

7)

What was the weighted average number of shares outstanding during the second quarter of 2026 and first quarter of 2026? How does this reconcile to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share?

The weighted average number of shares outstanding was 1.490 billion during the second quarter of 2026 and 1.499 billion during the first quarter of 2026. The following is a reconciliation of the weighted average shares outstanding to the average number of shares outstanding, assuming dilution, used in the calculation of diluted earnings per share.

(Stated in millions)

Second Quarter

2026

First Quarter

2026

Weighted average shares outstanding

1,490

1,499

Unvested restricted stock

15

15

Assumed exercise of stock options

1

1

Average shares outstanding, assuming dilution

1,506

1,515

8)

What was SLB’s adjusted EBITDA in the second quarter of 2026, the first quarter of 2026, the second quarter of 2025, the first six months of 2026, and the first six months of 2025? What was SLB’s adjusted EBITDA margin for those periods?

SLB’s adjusted EBITDA was $1.899 billion in the second quarter of 2026, $1.773 billion in the first quarter of 2026, and $2.051 billion in the second quarter of 2025.

SLB’s adjusted EBITDA margin was 21.2% in the second quarter of 2026, 20.3% in the first quarter of 2026, and 24.0% in the second quarter of 2025, and was calculated as follows:

(Stated in millions)

Second Quarter

2026

First Quarter

2026

Second Quarter

2025

Net income attributable to SLB

$786

$752

$1,014

Net income attributable to noncontrolling interests

29

9

34

Tax expense

204

195

237

Income before taxes

$1,019

$956

$1,285

Charges & credits

69

41

21

Depreciation and amortization

712

685

633

Interest expense

128

116

142

Interest income

(29)

(25)

(30)

Adjusted EBITDA

$1,899

$1,773

$2,051

Revenue

$8,972

$8,721

$8,546

Adjusted EBITDA margin

21.2%

20.3%

24.0%

SLB’s adjusted EBITDA was $3.672 billion in the first six months of 2026 and $4.072 billion in the first six months of 2025. SLB’s adjusted EBITDA margin was 20.8% in the first six months of 2026 and 23.9% in the first six months of 2025, and was calculated as follows:

(Stated in millions)

Six Months

2026

Six Months

2025

Change

Net income attributable to SLB

$1,538

$1,811

Net income attributable to noncontrolling interests

38

66

Tax expense

399

471

Income before taxes

$1,975

$2,348

Charges & credits

110

228

Depreciation and amortization

1,397

1,273

Interest expense

244

289

Interest income

(54)

(66)

Adjusted EBITDA

$3,672

$4,072

-10%

Revenue

$17,693

17,035

4%

Adjusted EBITDA margin

20.8%

23.9%

-315 bps

9)

What were the components of depreciation and amortization expenses for the second quarter of 2026, the first quarter of 2026, the second quarter of 2025, the first six months of 2026, and the first six months of 2025?

The components of depreciation and amortization expenses for the second quarter of 2026, the first quarter of 2026, and the second quarter of 2025 were as follows:

(Stated in millions)

Second Quarter

2026

First Quarter

2026

Second Quarter

2025

Depreciation of fixed assets

$473

$464

$408

Amortization of intangible assets

111

110

82

Amortization of APS investments

83

82

115

Amortization of exploration data costs capitalized

45

29

28

$712

$685

$633

The components of depreciation and amortization expenses for the first six months of 2026 and the first six months of 2025 were as follows:

(Stated in millions)

Six Months

2026

Six Months

2025

Depreciation of fixed assets

$937

$805

Amortization of intangible assets

$221

$164

Amortization of APS investments

$165

$225

Amortization of exploration data costs capitalized

$74

$79

$1,397

$1,273

10)

What are the revenue categories in the Digital Division that offer solutions to SLB’s customers?

Within Digital, revenue is generated from four key solutions — Platforms & Applications, Digital Operations, Digital Exploration and Professional Services.

Platforms & Applications includes SLB’s cloud technologies such as the Delfi™ and Lumi™ platforms, along with a suite of specialized, domain-focused applications such as Petrel™ and Techlog™ offered as SaaS subscription or perpetual licenses. These platforms and applications automate complex models to simulate the impact of reservoir development plans and aid in the planning of key operations such as drilling, completion and production designs. Additionally, they unlock data and utilize AI and machine learning to reduce cycle time and improve efficiency of workflows to allow customers to make better, faster decisions to improve their project economics and reservoir performance.

Revenue is recurring (with exception of one-off license sales) underpinned by a substantial base of ARR from a globally installed base, complemented by customer adoption of new cloud-based capabilities and IoT-enabled solutions.

This category has best-in-class retention rates and limited churn.

Digital Operations combines the unique strengths of SLB’s oilfield services with advanced digital technologies to deliver more reliable, efficient and autonomous field operations. By integrating connected solutions with Performance Live™ digital service delivery centers, customers gain real-time monitoring, remote decision making and automated execution across their workflows from autonomous drilling to automated well intervention, all while reducing costs and improving project economics.

Revenue is generated from the same customer base as the Core divisions and is, therefore, repeatable. Additionally, a portion of the revenue is recurring in nature.

To incentivize the Core divisions — Well Construction, Reservoir Performance and Production Systems — and Digital to develop and promote this category, the resulting revenue is recognized in both the respective Core division as well as in the Digital Division. This effect is eliminated in consolidation.

Digital Exploration represents SLB’s exploration data business. The exploration data library is a differentiated asset library of seismic surveys and other subsurface data that customers rely on for better exploration and development decisions. These licensed datasets also support carbon storage design and monitoring. The library covers key exploration and producing basins worldwide and datasets are refreshed and reprocessed to benefit from the latest imaging algorithms and AI technologies, enabled by high performance cloud computing.

Revenue is generated from one-time, non-transferable license sales and is therefore non-recurring in nature.

Professional Services includes consulting and other services required to support customers’ digital transformations. These services include transition support from on-prem to cloud-based digital solutions, data clean-up and migration, workflow automation — including deployment of workflow solutions built within SLB’s global network of Innovation Factori workspaces — and training to further enable customers’ digital transformations.

Revenue in this category is largely project-based, and repetitive engagements with the same customers are common. These services generate pull-through opportunities across other digital revenue streams.

11)

How much revenue was generated from each of the categories comprising the Digital Division in the first six months of 2026 and the first six months of 2025? What is the pretax operating income and adjusted EBITDA of the Digital Division for those periods?

Digital revenue, pretax operating income, and adjusted EBITDA in the first six months of 2026 and first six months of 2025 are detailed as follows:

Six Months Ended

Change

Jun. 30,

2026

Jun. 30,

2025

Year-on-year

Revenue

Platforms & Applications

$499

$502

-1%

Digital Operations

291

171

70%

Digital Exploration

227

173

32%

Professional Services

320

331

-4%

$1,337

$1,177

14%

Pretax operating income

$328

$278

18%

Pretax operating margin

24.5%

23.6%

93 bps

Adjusted EBITDA

$409

$367

12%

Adjusted EBITDA margin

30.6%

31.1%

-56 bps

12)

In Digital, what is the definition of ARR and what was the ARR as of June 30, 2026, March 31, 2026, and June 30, 2025?

ARR represents the annual value of recurring subscription and maintenance revenues from Platforms & Applications, along with the recurring portion of Digital Operations, providing a measure of predictable revenue over the next 12 months. This is calculated based on the trailing twelve months revenue and excludes one-time license sales and variable usage fees.

ARR as of June 30, 2026, was $1.04 billion, compared to $1.02 billion as of March 31, 2026, and $904 million as of June 30, 2025, resulting in a 15% increase year on year and 1% increase sequentially.

13)

What is the Data Center Solutions business and where is it reported?

The Data Center Solutions business designs and manufactures critical infrastructure components — such as modular data center enclosures, cooling systems and other hardware — for hyperscalers and enterprises. By leveraging scalable, standardized production with rapid lead times, and rigorous quality assurance, SLB provides configurable solutions that balance cost efficiency, reliability and customization to meet accelerating data center demand.

AI-driven data demand is fueling rapid growth, and this business is going to be a material and meaningful contributor to SLB’s portfolio in the future. This business is reported in the All Other category.

14)

How much revenue was generated from the Data Center Solutions business for the second quarter of 2026, the first quarter of 2026, the second quarter of 2025, the first six months of 2026, and the first six months of 2025?

Data Center Solutions revenue was $186 million in the second quarter of 2026, $141 million in the first quarter of 2026, and $104 million in the second quarter of 2025, resulting in a 33% increase sequentially and 80% increase year on year.

Data Center Solutions revenue was $327 million in the first six months of 2026 and $201 million in the first six months of 2025, resulting in a 63% increase year on year.

15)

What Divisions comprise SLB’s Core business and what were their revenue and pretax operating income for the second quarter of 2026, the first quarter of 2026, and the second quarter of 2025?

SLB’s Core business comprises the Reservoir Performance, Well Construction, and Production Systems Divisions. SLB’s Core business revenue and pretax operating income for the second quarter of 2026, the first quarter of 2026, and the second quarter of 2025 are calculated as follows:

(Stated in millions)

Three Months Ended

Change

Jun. 30,

2026

Mar. 31,

2026

Jun. 30,

2025

Sequential

Year-on-year

Revenue

Reservoir Performance

$1,556

$1,594

$1,691

Well Construction

2,742

2,797

2,963

Production Systems

3,771

3,508

2,932

$8,069

$7,899

$7,586

2%

6%

Pretax Operating Income

Reservoir Performance

$232

$257

$314

Well Construction

417

424

551

Production Systems

586

497

491

$1,235

$1,177

$1,357

5%

-9%

Pretax Operating Margin

Reservoir Performance

14.9%

16.1%

18.6%

Well Construction

15.2%

15.2%

18.6%

Production Systems

15.5%

14.2%

16.7%

15.3%

14.9%

17.9%

40 bps

-258 bps

Second-quarter 2026 results reflect activity from ChampionX , which contributed $865 million of revenue to Production Systems. Excluding the impact of this acquisition, Core revenue decreased 5% year on year.

About SLB

SLB (NYSE: SLB) is a global technology company that has driven energy innovation for 100 years. With a global presence in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Conference Call Information

SLB will hold a conference call to discuss the earnings press release and business outlook on Friday, July 24, 2026. The call is scheduled to begin at 9:30 a.m. U.S. Eastern time. To access the call, which is open to the public, please contact the conference call operator at +1 (800) 715-9871 within North America, or +1 (646) 307-1963 outside of North America, approximately 10 minutes prior to the call’s scheduled start time, and provide the access code 3440360. At the conclusion of the conference call, an audio replay will be available until July 31, 2026, by dialling +1 (800) 770-2030 within North America, or +1 (609) 800-9909 outside of North America, and providing the access code 3440360. The conference call will be webcasted simultaneously at https://events.q4inc.com/attendee/157027565 on a listen-only basis. A replay of the webcast will also be available at the same website until July 31, 2026.

Forward-Looking Statements

This second-quarter 2026 earnings press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “precursor,” “forecast,” “outlook,” “expectations,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “scheduled,” “think,” “should,” “could,” “would,” “will,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about our financial and performance targets and other forecasts or expectations regarding, or dependent on, our business outlook; growth for SLB as a whole and for each of its Divisions (and for specified business lines, geographic areas, or technologies within each Division); the benefits of the ChampionX acquisition, including the ability of SLB to integrate the ChampionX business successfully and to achieve anticipated synergies and value creation from the acquisition; oil and natural gas demand and production growth; oil and natural gas prices; forecasts or expectations regarding energy transition and global climate change; improvements in operating procedures and technology; capital expenditures by SLB and the oil and gas industry; our business strategies, including digital and “fit for basin,” as well as the strategies of our customers; our capital allocation plans, including dividend plans and share repurchase programs; our APS projects, joint ventures, and other alliances; the impact of the ongoing or escalating conflicts on global energy supply; access to raw materials; future global economic and geopolitical conditions; future liquidity, including free cash flow; and future results of operations, such as margin levels. These statements are subject to risks and uncertainties, including, but not limited to, changing global economic and geopolitical conditions; changes in exploration and production spending by our customers, and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of our customers and suppliers; the inability to achieve our financial and performance targets and other forecasts and expectations; the inability to achieve our net-zero carbon emissions goals or interim emissions reduction goals; general economic, geopolitical, and business conditions in key regions of the world; foreign currency risk; inflation; changes in monetary policy by governments; tariffs; pricing pressure; weather and seasonal factors; unfavorable effects of health pandemics; availability and cost of raw materials; operational modifications, delays, or cancellations; challenges in our supply chain; production declines; the extent of future charges; the inability to recognize efficiencies and other intended benefits from our business strategies and initiatives, such as digital or new energy, as well as our cost reduction strategies; changes in government regulations and regulatory requirements, including those related to offshore oil and gas exploration, radioactive sources, explosives, chemicals, and climate-related initiatives; the inability of technology to meet new challenges in exploration; the competitiveness of alternative energy sources or product substitutes; and other risks and uncertainties detailed in this press release and our most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the Securities and Exchange Commission (the “SEC”).

If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. Forward-looking and other statements in this press release regarding our environmental, social, and other sustainability plans and goals are not an indication that these statements are necessarily material to investors or required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking environmental, social, and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. Statements in this press release are made as of the date of this release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260722694386/en/

Investors

James R. McDonald — SVP, Investor Relations & Industry Affairs, SLB

Joy V. Domingo — Director of Investor Relations, SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

Media

Josh Byerly — SVP of Global Communications, SLB

Moira Duff — Director of External Communications, SLB

Tel: +1 (713) 375-3407

media@slb.com

Source: SLB

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打开原文

芝商所扩展全天候交易与云迁移

重要性3/5 中

交易所一手公告包含多项临近07/27的产品与基础设施节点,对黄金期货和个股期货有直接操作环境相关性;但原始发布日期较早、缺少具体股票代码及运行数据,日报阅读优先级居中。

中文摘要

核心结论

CME Group(芝商所集团)正同步扩展周末交易、上市新品种并迁移交易基础设施:1盎司黄金期货已切换至全天候技术运行,精选个股期货于07/26(未给出具体时刻)上线,10桶WTI(西得克萨斯中质原油)期货计划于08/30(未给出具体时刻)上线。公告直接影响黄金期货和个股期货的交易时段、合约配置及行情接入,但不提供价格方向、成交量或流动性变化证据。

重要性评级

评级:3/5(中)

公告来自交易所一手来源,且个股期货上线、云连接迁移期限与07/27日报日期相近。原始页面发布于07/13(未给出具体时刻),部分章节随后更新,但页面未提供统一更新时间;相关标的也仅列为黄金期货和个股期货,没有具体股票代码。

关键事实

  • 1盎司黄金期货于07/19(未给出具体时刻)迁移至新的CME MDP 3.0(芝商所市场数据平台3.0)频道和市场分段,交易日为07/20(未给出具体时刻),支持周末交易;1盎司黄金TAS(结算价交易)合约TG同时退市。
  • 黄金期货每周至少保留两小时维护窗口。首次周末交易日07/24的维护时间由两分钟延长至30分钟,即美东时间 07/24 17:00(UTC+8 07/25 05:00)至美东时间 07/24 17:30(UTC+8 07/25 05:30);此后的周五交易于美东时间 07/31 17:02(UTC+8 08/01 05:02)恢复常规开盘。
  • 精选上市公司的SSF(个股期货)、BTIC(指数收盘基准交易)个股期货和微型个股期货于07/26(未给出具体时刻)在CME Globex(芝商所电子交易平台)及CME Direct(芝商所直接交易应用)挂牌,交易日为07/27(未给出具体时刻),并可经CME ClearPort(场外交易清算提交平台)提交清算。
  • 10桶WTI原油期货计划于08/30(未给出具体时刻)挂牌,交易日为08/31(未给出具体时刻),同样支持周末交易;产品代码为TCL,市场数据频道为325,仍以监管审查完成为前提。
  • CME MDP 3.0将从08/15(未给出具体时刻)分阶段补充证券定义消息字段1682和37513,覆盖上市衍生品,并分别影响BrokerTec(固定收益电子交易平台)与EBS(外汇电子交易平台)。
  • 畜牧期货及期权计划于08/16(未给出具体时刻)迁入独立市场分段和行情频道,为2026年第四季度迁往Google Cloud(谷歌云)达拉斯生产环境做准备;用户自定义价差中的未成交长期有效订单将在迁移前被清除,交易所定义合约的相应订单则随分段迁移。
  • CME Globex上市衍生品将采用Google的ULL(超低延迟)方案。沙盒环境已开放股票、能源、加密货币及事件合约等多个市场分段;畜牧产品预计2026年第四季度先迁往达拉斯,2028年下半年再迁往芝加哥。
  • 其他变更包括亨利港天然气季节价差挂牌周期扩展、PJM西部枢纽电力月度条带与价差上线、RepoFunds Rate Select20(精选20回购利率指数)发布,以及CFTC(美国商品期货交易委员会)Part 17(第17部分)大户持仓报告合规期限延至07/26/2027(未给出具体时刻)。

作者观点与证据

公告采用交易所运营通知口径,重点是产品生效日、合约代码、行情频道、测试环境、订单迁移规则及监管前置条件。上述事实由CME Group直接发布,适合核对交易时段和系统配置;文中没有价格、持仓、成交量、买卖价差或上线后运行数据,无法据此判断新品种需求或市场方向。“全天候”指技术上支持周末交易,仍存在每周维护窗口,并受监管审查完成条件约束。

与相关标的的关系

黄金期货的直接变化是周末可交易、行情频道迁移及TG合约退市,可能改变周末事件发生后的价格发现时间。个股期货新增SSF、BTIC和微型合约入口,但公告未列出具体公司名单,无法映射至单一股票代码。10桶WTI原油期货、天然气价差和固定收益指数属于同一轮产品扩展,对黄金及个股期货仅构成交易所基础设施背景。

时效性与限制

页面标注发布于07/13(未给出具体时刻),采集于美东时间 07/26 21:21(UTC+8 07/27 09:21)。部分事项已在07/19至07/26生效,07/31、08/15、08/16和08/30仍是后续节点;公告没有统一修订时间,也未附上线后的运行统计。

后续跟踪

  • 核对1盎司黄金期货周末交易的实际成交量、买卖价差和维护窗口运行情况。
  • 获取精选个股期货的完整公司名单、合约规格及首周成交数据。
  • 跟踪10桶WTI原油期货的监管审查结果和08/30上线确认。
  • 观察CME Globex云迁移后续分段时间表、连接规范及达拉斯生产环境测试结果。
原文
CME Globex Notice: July 13, 2026 - CME Group

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Update</span>1-Ounce Gold Futures Expansion to 24/7 Trading&nbsp;<span class=\"toc-date\">- This Week</span>"},{"id":"ssf2","tag":"h3","label":"<span class=\"toc-more\">Update</span>Single Stock Futures<span class=\"toc-date\"> - July 26</span>"},{"id":"cm3mdsdu","tag":"h3","label":"<span class=\"toc-more\">Update</span>CME MDP 3.0 Market Data Security Definition Updates<span class=\"toc-date\"> - Starting August 15</span>"},{"id":"lfomnmsmc","tag":"h3","label":"<span class=\"toc-more\">Update</span>Livestock Futures and Options Migration to New Market Segments and MDP Channels<span class=\"toc-date\">&nbsp;- August 16</span>"},{"id":"1wcof","tag":"h3","label":"10-Barrel WTI Crude Oil Futures with 24/7 Trading<span class=\"toc-date\"> - August 30</span>"},{"id":"nmdc3feiaapl","tag":"h3","label":"New Market Data Channel 335 for Equity Index and Alternative Product Launch<span class=\"toc-date\"> - Q3 2026</span>"},{"id":"cgmtgcsj1","tag":"h3","label":"<span class=\"toc-more\">Update</span>CME Globex Migration to Google Cloud<span class=\"toc-date\"> - Q4 2026</span>"},{"id":"prucp1","tag":"h3","label":"Position Reporting Under CFTC Part&nbsp;17"},{"id":"pl","tag":"h2","label":"Product Launches"},{"id":"u9a5lbtfo","tag":"h3","label":"<span class=\"toc-more\">Update</span>U.S. 90% and 50% Lean Beef Trim Futures and Options&nbsp;<span class=\"toc-date\">- This Week</span>"},{"id":"lbicfuutnis","tag":"h3","label":"Listing Bloomberg IG Credit Futures versus Ultra 10-Year U.S. Treasury Note Intercommodity Spreads&nbsp;<span class=\"toc-date\">- This Week</span>"},{"id":"rfrrs","tag":"h3","label":"RepoFunds Rate Select20<span class=\"toc-date\"> - July 20</span>"},{"id":"pc","tag":"h2","label":"Product Changes"},{"id":"lpwhmfsas","tag":"h3","label":"Listing PJM Western Hub Monthly Futures Strips and Spreads&nbsp;<span class=\"toc-date\">- This Week</span>"},{"id":"lcefhhnnglapss","tag":"h3","label":"Listing Cycle Expansion for Henry Hub Natural Gas Average Price Strip Spreads&nbsp;<span class=\"toc-date\">- This Week</span>"},{"id":"thcfbswcfao","tag":"h3","label":"<span class=\"toc-more\">New</span>Trading Hours Change for Black Sea Wheat (CVB) Futures and Options<span class=\"toc-date\"> - August 2</span>"},{"id":"eaa","tag":"h2","label":"Events and Announcements"},{"id":"csfogc","tag":"h3","label":"CME STP FIX on Google Cloud - Production Internet Connectivity Migration Deadline&nbsp;<span class=\"toc-date\">- July&nbsp;31</span>"},{"id":"csfogc2","tag":"h3","label":"CME STP FIX on Google Cloud - Production Dedicated Connectivity Migration Deadline&nbsp;<span class=\"toc-date\">- July 31</span>"},{"id":"pfcgtl","tag":"h3","label":"<span class=\"toc-more\">New</span>Prepare for CME Group Technology Launches<span class=\"toc-date\"> - Now&nbsp;Available</span>"}]" data-hide-pdf-viewer="false" data-has-extra-content="false">

Update

See the CME Group Technology Roadmap for the latest initiatives.

Find the previous versions of CME Group notices on the Notice Search page:

  • CME Globex Notices
  • EBS Market on CME Globex Notices
  • BrokerTec Markets on CME Globex Notices

Critical Updates

Update 1-Ounce Gold Futures Expansion to 24/7 Trading  - This Week

† Denotes update to the article

Effective this Sunday, July 19 (trade date Monday, July 20), pending completion of regulatory review periods, CME Group will migrate 1-Ounce Gold futures to a new CME MDP 3.0 channel and market segment. These futures will support 24/7 Technical Market Functionality and be tradable over the weekend. Additionally, with this launch, 1-Ounce Gold TAS (TG) contracts will be delisted.

1-Ounce Gold futures will trade continuously on CME Globex with at least a two-hour weekly maintenance period over the weekend.  All holiday or weekend trading from Friday evening through Sunday evening will have a trade date of the following business day, with clearing, settlement and regulatory reporting processed the following business day as well.

†Please Note: For the first day of 24/7 1-Ounce Gold futures weekend trading on Friday, July 24 , the standard daily maintenance will be extended from two minutes to 30 minutes, from 4:00 p.m. to 4:30 p.m. Central Time (CT). All subsequent Friday trading sessions will open at their regular time of 4:02 p.m. CT.

Please review the 1-Ounce Gold client impact assessment for full technical analysis and comprehensive migration details.

Please be advised that CME Group has introduced an additional 24/7 initiative. For comprehensive information regarding 10-Barrel WTI Crude Oil 24/7 trading, please review the Globex Notice .

Additionally, a 24/7 Trading for 1-Ounce Gold and 10-Barrel WTI Crude Oil Overview is available for high-level information on the initiatives.

These futures are currently available for customer testing in New Release.

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Update Single Stock Futures - July 26

† Denotes update to the article

Effective Sunday, July 26  (trade date Monday, July 27), pending completion of all regulatory review periods, Single Stock futures (SSF), Basis Trade at Index Close (BTIC) on SSF, and Micro SSF for a select group of publicly listed companies will be listed for trading on CME Globex and CME Direct trading application, and submission for clearing via CME ClearPort.

With this launch a new Market Segment Gateway and Drop Copy Gateway Service will be introduced.

Please review the † client impact assessment for full technical details and launch schedules.

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Update CME MDP 3.0 Market Data Security Definition Updates - Starting August 15

† Denotes update to the article

Starting  Saturday, August 15,  CME Group will continue populating existing fields in the CME Market Data 3.0 Security Definition 35-MsgType=d messages. The following fields and markets are impacted:

  • Tag 1682-MDSecurityTradingStatus – Impacts listed derivatives, Brokertec, and EBS
  • Tag 37513-InstrumentGUID – Impacts listed derivatives

These changes are being phased-in across the New Release and Production environments for CME Globex listed derivatives, BrokerTec and EBS markets.

Please review the † client impact assessment for full technical details and launch schedule.

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Update Livestock Futures and Options Migration to New Market Segments and MDP Channels  - August 16

† Denotes update to the article

To prepare for Livestock markets migration to Google Cloud in Q4 2026 , CME Group is launching new, dedicated Market Segments and Market Data Platform (MDP) Channels on-premise to segregate Livestock markets from the rest of the Agricultural complex.

Effective Sunday, August 16 , Livestock markets will trade on the new Market Segments and MDP Channels.

Clients will need to connect to new multicast channels for market data, and the new Market Segment Gateways (MSGW) and Drop Copy for MSGW instances for access to Livestock listed derivative markets.

†After the Livestock markets close on the Friday before migration, all resting Good Till Cancel (GTC) and Good Till Date (GTD) orders on User-Defined Spreads (UDS) will be eliminated and all UDS will be allowed to expire. GTC and GTD orders on exchange defined instruments and spreads will be persisted and will migrate to the new Segments along with the instruments.

These changes will be available in New Release for customer testing on this Sunday, July 19 .

These new market segments will be available in the Sandbox-Dallas environment before the Production-Dallas launch. The launch date will be announced in future CME Globex Notices.

Further details on these changes, including new networking information, are now available in the Client Systems Wiki .

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10-Barrel WTI Crude Oil Futures with 24/7 Trading - August 30

Effective Sunday, August 30 (trade date Monday, August 31), pending completion of regulatory review periods, 10-Barrel WTI Crude Oil futures will be listed for trading on CME Globex. These new futures will support 24/7 Technical Market Functionality and be tradable over the weekend.

10-Barrel WTI Crude Oil Futures

Product

MDP 3.0: Tag 6937-Asset

iLink/MDP 3.0: Tag 1151-Security Group

Included Spreads and Combos: Tag 762-SecuritySubType

Market Data Channel MDP 3.0 Tag 1180 - APPLID

10-Barrel WTI Crude Oil Futures

TCL

CS

SP - Standard Calendar

325

Please review the client impact assessment for connectivity and configuration information, technical details and launch schedules.

Market data multicast IP and port details are available from the Connectivity and Configuration Details page.

Please be advised that CME Group has introduced an additional 24/7 initiative. For comprehensive information regarding 1-Ounce Gold futures 24/7 trading, please review the Globex Notice .

Additionally, a 24/7 Trading for 1-Ounce Gold and 10-Barrel WTI Crude Oil Overview is available for high-level information on the initiatives.

These futures are currently available for customer testing in New Release.

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New Market Data Channel 335 for Equity Index and Alternative Product Launch - Q3 2026

To support the expansion of the Equity Index and Alternative Products asset class, CME Group will launch a new market data multicast group in Q3 2026 .

This new multicast group will utilize Channel ID 335.

While the product launch is scheduled for Q3 2026, please use your CME Group login to review  network specifications now to proactively manage firewall policies and network configurations.

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Update CME Globex Migration to Google Cloud - Q4 2026

† Denotes update to the article

Listed derivatives on CME Globex will be migrating to Google’s Ultra Low Latency (ULL) Solution. These ULL zones will also support new co-location and connectivity options, including self-managed infrastructure in a co-location facility and Google Cloud's specialized infrastructure-as-a-service offering, both with equal network latency to the markets.

Effective this Monday, July 13, Market Segment 56, 74 and 80 will be available for customer testing in the Sandbox-Dallas environment . In addition to the currently supported Market Segment 54 and 68, the Sandbox-Dallas environment now supports the following market segments and Market Data Platform (MDP) channels:

  • Market Segment 54: CME Equity Options
  • MDP Channel 311: CME Equity Options
  • MDP Channel 323: CME Equity Options - Micro E-mini S&P
  • Market Segment 56: NYMEX Energy and Emissions Options
  • MDP Channel 383: NYMEX Crude and Crude Refined Options
  • MDP Channel 381: NYMEX Emissions Options
  • MDP Channel 387: NYMEX Nat Gas and other Non-Crude Energy Options
  • MDP Channel 441: GME Options
  • Market Segment 68: CME & CBOT Equity Futures (excluding E-mini S&P)
  • MDP Channel 318: CME Equity Futures
  • MDP Channel 342: CBOT Equity Index Futures
  • Market Segment 74: CME Cryptocurrency Futures and Options - Event Contracts
  • MDP Channel 326: CME Crypto Futures
  • MDP Channel 327: CME Crypto Options
  • MDP Channel 329: Event Based Contracts
  • Market Segment 80: NYMEX Crude and Crude Refined Energy Futures
  • MDP Channel 382: NYMEX Crude and Crude Refined Futures
  • MDP Channel 440: GME Futures

To allow clients ample testing time before the launch of the Livestock futures and options markets on Production-Dallas , the new Market Segments 71 and 61, and the corresponding MDP channels 352 and 353, will be made available in Sandbox-Dallas this summer. Market Segments 60 and 70 (CME, CBOT Commodity Options - BMD Futures and Options and CME, CBOT Commodity Futures) have been removed from scope for Sandbox-Dallas.

This is a critical early-access window for clients to validate their cloud journey and connectivity solutions. IPs for the new gateways and MDP channels are available now at Configuration and Connectivity Details . The schedule for the remaining in-scope market segments will be announced in a future CME Globex Notice.

†To support Dual Zone Solution , CME Group offers the new discovery services via REST APT for determining which zone is currently Active and when the next zone swap is scheduled to occur. The CME Globex Discovery Service - Zone Schedule API is now available.

To provide clients with a real-world production environment on Google Cloud prior to the Chicago region launch, Livestock futures and options will migrate to a new Production-Dallas environment in the private zones of the Dallas region in Q4 2026 . In the second half of 2028 , Livestock futures and options will migrate to the Production-Chicago environment, in the private Google Cloud Chicago region.

CME Group is offering a Pilot Program for clients who achieve specific technical milestones in the Sandbox-Dallas environment. The first 50 participants to complete each obligation by the deadline and submit proof will earn a stipend. Details on this program are available in the CME Globex Sandbox-Dallas Pilot Program Agreement .

Information on compute pricing for U4C Bare Metal and U4S Virtual Machine instances is available now from Google Cloud’s Account Teams. To support the migration and the testing of U4 machines specifically, Google Cloud customers may opt in to a Google Cloud incentive program that provides up to $30,000 in credits for U4 compute usage. More information on this program is available from your Account Team or contact exchanges@google.com .

Stay Informed

Ensure your team is subscribed to CME Globex Notices by  email  and  RSS feed  for ongoing updates.

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Position Reporting Under CFTC Part 17

On April 30, 2024, the Commodity Futures Trading Commission ("CFTC") approved final rules to amend its Large Trading Reporting Regulations for Futures and Options . The amendments were made to modernize CFTC's Large Trader Reporting process and align it with other reporting structures outlined in CFTC regulations.

Since October 2024, CME Group has offered methods to retrieve its instrument listing containing the Unique Instrument Code (UIC) and other instrument data elements in compliance with the amended rule.

Starting March 10, 2025, CME Group began accepting test files in the new Position Message FIXML format via SFTP. For details regarding submitting the new FIXML Position Message, file management, field validations, and example scenarios, please refer to the information in the  CME Group Client Systems Wiki .

CFTC's final rules became effective upon publication in the Federal Register on June 3, 2024. Subject to the conditions of the January 27, 2026, no-action letter, reporting firms must comply with these CFTC regulations by July 26, 2027.

A test environment for Large Trader Reporting is now available within the Firm Regulatory Portal (FRP UT). Users can access the testing portal at: https://frp.uat.cmegroup.com .

A brief video demonstration is available to highlight the new look and functionality of the FRP UT.

The Market Regulation Department will be publishing further guidance regarding Large Trader Reporting in subsequent Special Executive Reports as solutions become available.

Support Contacts

  • To request access to FRP UT, please contact the Enterprise Application & System Entitlements (EASE) team .
  • For questions or comments regarding FRP UT, please contact LTR_Part17_Alerts@cmegroup.com .
  • For questions about trade practice rules, please contact MarketReg.Outreach@cmegroup.com .

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Product Launches

Update U.S. 90% and 50% Lean Beef Trim Futures and Options  - This Week

† Denotes update to the article

Effective this  Sunday, July 19 (trade date Monday, July 20), pending completion of all regulatory review periods, U.S. 90% and 50% Lean Beef Trim futures and options will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

U.S. 90% and 50% Lean Beef Trim Futures and Options

PRODUCT

MDP 3.0: TAG 6937-ASSET

iLink/MDP 3.0 Tag 1151 - Security Group

Included Spreads and Combos - Tag 762- SecuritySubType

MARKET DATA CHANNEL MDP 3.0 TAG 1180 - APPLID

90% Lean Beef Trim Futures

BTN

LB

†SP - Standard Calendar Spread

IS - Inter-Commodity Spread

316

Options on 90% Lean Beef Trim Futures

BTN

L7 (UDS: L8)

-

50% Lean Beef Trim Futures

BTF

LB

†SP - Standard Calendar Spread

IS - Inter-Commodity Spread

Options on 50% Lean Beef Trim Futures

BTF

L7 (UDS: L8)

-

These futures and options currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of CME.

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Listing Bloomberg IG Credit Futures versus Ultra 10-Year U.S. Treasury Note Intercommodity Spreads  - This Week

Effective this  Sunday, July 19 (trade date Monday, July 20), Bloomberg IG Credit futures versus Ultra 10-Year U.S. Treasury Note intercommodity spreads will be listed on CME Globex.

Listing Bloomberg IG Credit Futures versus Ulta 10-Year U.S. Treasury Note Intercommodity Spreads

Product

MDP 3.0: tag 6937-Asset

iLink/MDP 3.0 tag 1151 - Security Group

Tag 762-

SecuritySubType

Bloomberg IG Credit Futures vs. Ultra 10-Year U.S. Treasury Note Futures

IQN

ER

IV - Implied Treasury Intercommodity Spread

These spreads currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of CBOT.

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RepoFunds Rate Select20 - July 20

Effective Monday , July 20 , CME Group Benchmark Administration Limited (CBA) will launch RepoFunds Rate Select20 Indices (RFR Select20) on the CME Benchmark Administration Premium market data channel.

The RFR Select20 are a series of one-day repo indices designed to measure the on-day cost of secured funding based on sovereign debt of selected countries. The RFR Select20 indices leverage an enhanced filtering method relative to the primary RepoFunds Rate (RFR) benchmark indices to create a rate more representative of the general collateral rate.

RFR France, Germany and Italy Select20 will be published by 5:00 p.m. Greenwich Mean Time (GMT)/British Summer Time (BST) on BrokerTec EU business days, and RFR Sterling Select20 will be published by 5:00 p.m. GMT/BST on BrokerTec UK Gilt business days.

RFR Select20

INDEX NAME

BENCHMARK PREMIUM TAG 37500 - CLEARING PRODUCT CODE

MARKET DATA CHANNEL MDP 3.0 TAG 1180 - ApplID

RFR France Select20

RFFR20

261

RFR Germany Select20

RFDE20

261

RFR Italy Select20

RFIT20

261

RFR Sterling Select20

RFGB20

261

The new RepoFunds Rate Select20 Indices are currently available for customer testing in New Release.

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Product Changes

Listing PJM Western Hub Monthly Futures Strips and Spreads  - This Week

Effective this  Sunday, July 19 (trade date Monday, July 20), PJM Western Hub Monthly futures strips and spreads will be listed on CME Globex.

Listing PJM Western Hub Monthly Futures Strips and Spreads

Product

MDP 3.0: tag 6937-Asset

iLink/MDP 3.0 tag 1151 - Security Group

Tag 762-SecuritySubType

PJM Western Hub Day-Ahead Peak Monthly 1 MW Futures

WDP

PW

SA - Average Price Strip, SB - Balanced Strip, SP - Standard Calendar Spread

PJM Western Hub Day-Ahead Off-Peak Monthly 1 MW Futures

WDO

PJM Western Hub Real-Time Off-Peak Monthly 1 MW Futures

WRO

PJM Western Hub Real-Time Peak Monthly 1 MW Futures

WRP

PJM Western Hub Real-Time Peak 2x16 Monthly 1 MW Futures

P2P

PJM Western Hub Real-Time Peak Monthly 50 MW Futures

5ZP

PJM Western Hub Real-Time Off-Peak Monthly 50 MW Futures

5ZO

PJM Western Hub Day-Ahead Peak Monthly 1 MW Futures / PJM Western Hub Day-Ahead Off-Peak Monthly 1 MW Futures

WDP/WDO

IS - Inter-Commodity

PJM Western Hub Real-Time Peak Monthly 1 MW Futures/PJM Western Hub Real-Time Off-Peak Monthly 1 MW Futures

WRP/WRO

PJM Western Hub Real-Time Peak Monthly 50 MW Futures/PJM Western Hub Real-Time Off-Peak Monthly 50 MW Futures

5ZP/5ZO

PJM Western Hub Day-Ahead Peak Monthly 1 MW Futures/PJM Western Hub Real-Time Peak Monthly 1 MW Futures

WDP/WRP

PJM Western Hub Day-Ahead Off-Peak Monthly 1 MW Futures/PJM Western Hub Real-Time Off-Peak Monthly 1 MW Futures

WDO/WRO

These spreads currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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Listing Cycle Expansion for Henry Hub Natural Gas Average Price Strip Spreads  - This Week

Effective this  Sunday, July 19 (trade date Monday, July 20), the listing cycle for the following Henry Hub Natural Gas Average Price Strip spreads will be expanded on CME Globex.

Listing Cycle Expansion for Henry Hub Natural Gas Average Price Strip Spreads

Product

MDP 3.0: tag 6937-Asset

iLink/MDP 3.0 Tag 1151 - Security Group

MDP 3.0: tag 762 - SecuritySubType

Current Listing Schedule

New Listing Schedule

Henry Hub Natural Gas Futures

NG

NG

SA - Average Price Strip

4 5-month Winter Strips (Nov-Mar), 4 7-month Summer Strips (Apr-Oct), 10 6-month EU Winter Strips (Oct-Mar), 10 6-month EU Summer Strips (Apr-Sep)

12 5-month Winter Strips (Nov-Mar), 12 7-month Summer Strips (Apr-Oct), 12 6-month EU Winter Strips (Oct-Mar), 12 6-month EU Summer Strips (Apr-Sep)

Henry Hub Natural Gas Look-Alike Last Day Financial Futures

HH

Henry Hub Natural Gas Last Day Financial Futures

NN

4 5-month Winter Strips (Nov-Mar), 4 7-month Summer Strips (Apr-Oct)

These spreads currently available for customer testing in New Release.

These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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New Trading Hours Change for Black Sea Wheat (CVB) Futures and Options - August 2

Effective Sunday, August 2 (trade date Monday, August 3), the trading hours for Black Sea Wheat (CVB) futures and options will be updated on CME Globex.

Trading Hours Change for Black Sea Wheat (CVB) Futures and Options

Product

MDP 3.0: tag 6937-Asset

iLink/MDP 3.0 Tag 1151 - Security Group

Current Trading Hours

New Trading Hours

Black Sea Wheat (CVB) Financially Settled (Argus) Futures

CVB

BW

CME Globex Pre-Open

Sunday: 4:00 p.m. – 7:00 p.m. Central Time (CT)

Monday – Thursday: 4:45 p.m. – 7:00 p.m. CT

Monday – Friday: 8:00 a.m. – 8:30 a.m. CT

CME Globex:

Sunday - Friday, 7:00 p.m. - 7:45 a.m. CT

Monday - Friday, 8:30 a.m. - 1:20 p.m. CT

CME Globex Pre-open:

Sunday: 4:00 p.m. – 7:00 p.m. CT

Monday – Thursday: 4:45 p.m. – 7:00 p.m. CT

CME Globex:

Sunday - Friday 7:00 p.m. – 1:20 p.m. CT

Options on Black Sea Wheat (CVB) Financially Settled (Argus) Futures

CVO

R0 (UDS:RK)

CME Globex Pre-Open

Sunday: 4:00 p.m. – 7:00 p.m. CT

Monday – Thursday: 4:45 p.m. – 7:00 p.m. CT

Monday – Friday: 8:00 a.m. – 8:30 a.m. CT

CME Globex:

Sunday - Friday, 7:00 p.m. - 7:45 a.m. CT

Monday - Friday, 8:30 a.m. - 1:20 p.m. CT

CME Globex Pre-open:

Sunday: 4:00 p.m. – 7:00 p.m. CT

Monday – Thursday: 4:45 p.m. – 7:00 p.m. CT

CME Globex:

Sunday - Friday 7:00 p.m. – 1:20 p.m. CT

These changes will be available for customer testing in New Release on this  Sunday, July 19 .

These contracts are listed with, and subject to, the rules and regulations of CME.

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Events and Announcements

CME STP FIX on Google Cloud - Production Internet Connectivity Migration Deadline  - July 31

As part of a phased migration of CME Straight Through Processing APIs to Google Cloud, Production internet connectivity options for CME STP FIX API are now available .

Close of business Friday, July 31 , all clients must complete migration and connect to CME STP FIX API Production using only the Google Cloud hostnames.

CME STP FIX on Google Cloud is available in parallel to the current on-prem instance. When connecting in parallel to Google Cloud and on-prem instances, clients should ensure trades are not double-booked.

A mandatory supplemental certification for message recovery is now available for CME STP FIX on Google Cloud.

Please contact Certification Support for Electronic Trading (CSET) with any questions in the U.S. at +1 312 930 2322, in Europe at +44 20 3379 3803 or in Asia at +65 6593 5593.

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CME STP FIX on Google Cloud - Production Dedicated Connectivity Migration Deadline  - July 31

As part of a phased migration of CME Straight Through Processing APIs to Google Cloud, Production dedicated connectivity options for CME STP FIX API are now available .

Close of business Friday, July 31 , all clients must complete migration and connect to CME STP FIX API Production using only the Google Cloud hostnames.

CME STP FIX on Google Cloud is available in parallel to the current on-prem instance. When connecting in parallel to Google Cloud and on-prem instances, clients should ensure trades are not double-booked.

A mandatory supplemental certification for message recovery is now available for CME STP FIX on Google Cloud.

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打开原文

BitMart退场与BMX流动性冲击

重要性4/5 中高

停运安排、平台币跌幅、交易量与提款限制均为最新且具体的行业事实,对交易所风险观察具有较高价值;缺少直接持仓关联及关闭原因、偿付能力数据,优先级低于直接影响组合标的的事件。

中文摘要

核心结论

BitMart(加密货币交易所)运营九年后宣布有序关闭,现货及衍生品交易将在 08/26(未给出具体时刻)全部停止,平台于 2027 年 01/31(未给出具体时刻)终止运营。公告迅速冲击平台币 BMX,其价格在 24 小时内下跌约 58%;公司仅以经营状况、市场环境和未来战略概括原因,尚未披露决定关闭的具体触发因素。

重要性评级

评级:4/5(中高)

报道提供了明确的停运时间表、平台币价格、市值、交易量和提款审核安排,时效性与事实密度较高。事件直接影响 BitMart 用户和 BMX,但输入未列出相关持仓或股票代码,与主流加密资产的价格关联仍属间接。

关键事实

  • BitMart 在美东时间 07/25 21:30(UTC+8 07/26 09:30)停止新用户注册、充值和新增交易订单,期货账户转为仅减仓模式。
  • 现货和衍生品交易将在 08/26(未给出具体时刻)全部结束,平台计划于 2027 年 01/31(未给出具体时刻)正式停止运营。
  • 提款通道在停运过程中保持开放,但身份验证、设备与 IP(网络地址)检查、提款地址筛查、资金来源核验和制裁审查可能延长处理时间。
  • BMX 跌至约 0.08 美元,24 小时跌幅约 58%,市值降至约 2,700 万美元;此前一年已累计下跌约 70%。
  • BitMart 报告的 24 小时交易量约为 16 亿美元,较前一统计期增长 51%,其中 BTC(比特币)贡献接近一半。
  • 文章认为交易量激增可能来自用户平仓和转移资金,但未提供资金流向或订单级数据验证这一解释。
  • BitMart 曾在 2021 年 12 月遭遇热钱包攻击,损失约 1.96 亿美元,并在当时承担客户损失。
  • 同一周,BitMEX(加密衍生品交易所)也宣布结束运营,使交易平台退出成为同期行业观察点。

作者观点与证据

文章将停运公告、BMX 暴跌、提款审核增加和历史安全事件并列,强调用户退出阶段的流动性与操作摩擦。停运日期、BMX 行情和交易量属于可核对事实;“交易量上升主要由撤资造成”是作者推测。公司未公开财务、监管、偿付能力或资金储备数据,因此现有证据无法确认关闭原因,也不足以判断是否存在资产缺口。

与相关标的的关系

BMX 受到直接影响,平台停止交易后,其使用场景和流动性面临收缩。BTC(比特币)约占 BitMart 当期交易量的一半,但文章没有证明该事件已影响 BTC 的全市场价格或流动性。输入未提供相关股票代码或组合持仓线索;对其他中心化交易所的意义主要体现在平台经营稳定性、客户资产迁移和提款处理能力。

时效性与限制

原文发布于美东时间 07/26 06:59(UTC+8 07/26 18:59),更新于美东时间 07/26 14:55(UTC+8 07/27 02:55),归档检索时间为美东时间 07/26 21:21(UTC+8 07/27 09:21)。报道主要依据 BitMart 公告和公开市场数据,公司尚未回应 CoinDesk(加密资产新闻媒体)的进一步询问;停运原因、资产负债状况、实际提款速度和客户资金覆盖情况均未披露。

后续跟踪

  • 08/26(未给出具体时刻)前的提款处理时间、失败率及审核积压情况。
  • BitMart 是否披露关闭原因、资产负债状况和客户资金保障安排。
  • BMX 的成交深度、市值和可交易平台数量变化。
  • BitMart 与 BitMEX 退出后,用户资金及交易量流向哪些平台。
原文
BitMart to shut down after nine years, exchange token crashes 58%

Markets

Crypto exchange BitMart to shut down after nine years, BMX token crashes 58%

Users have a month to close trades and six months to withdraw funds, and the exchange gave no specific reason for the closure.

By Shaurya Malwa

Updated Jul 26, 2026, 2:55 p.m. Published Jul 26, 2026, 6:59 a.m.

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Crypto exchange BitMart to shut down after nine years. (Tim Mossholder/Unsplashed, modified by CoinDesk)

Summary

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  • Cryptocurrency exchange BitMart will wind down its trading platform after nine years, halting all trading by Aug. 26 and fully ceasing operations on Jan. 31, 2027.
  • The closure, attributed vaguely to operating conditions, the market environment and future strategy, sent BitMart’s BMX token down about 58% in 24 hours, extending a yearlong slide of roughly 70%.
  • BitMart, which recently reported about $1.6 billion in 24-hour trading volume, is keeping withdrawals open but warns of extra identity and security checks that could delay processing as users rush to exit.

Cryptocurrency exchange BitMart said Sunday it will wind down its trading platform, ending 9 years of operation, and its exchange token fell almost 60% after the announcement.

It is the second crypto exchange to announce closure this week, with the perpetuals trading powerhouse BitMEX saying Thursday it would shut down after 11 years, as CoinDesk reported .

The exchange stopped accepting new registrations, deposits and new trading orders from 01:30 UTC on Sunday, it said, with futures accounts moving to reduce-only mode.

All trading, spot and derivatives, ends on Aug. 26, and the platform formally ceases operations on Jan. 31, 2027. Withdrawals stay open throughout, though BitMart urged users to complete identity checks, close positions, and submit withdrawal requests before the August cutoff.

Important Notice

After a careful evaluation of the Company's operating conditions, market environment, and future strategic direction, BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make… pic.twitter.com/KX3zczIrAh

— BitMart (@BitMartExchange) July 26, 2026

The company attributed the decision to “operating conditions, market environment, and future strategic direction,” offering no further detail on which of those factors led to the closure.

CoinDesk has reached out to BitMart for further comment.

BMX, the platform's token, fell to about 8 cents, down 58% over 24 hours, cutting its market value to roughly $27 million. The token was already down about 70% over the past year, so Sunday's drop extended a long decline rather than starting one.

The exchange's trading figures are significant, despite the closure. BitMart reported $1.6 billion in 24-hour volume, up 51% from the previous period, with bitcoin accounting for nearly half. That jump more plausibly reflects users unwinding positions and moving funds out than any fresh demand, but it leaves open why a platform still clearing that kind of flow is closing.

Meanwhile, the withdrawal terms carry more friction than a routine exit. BitMart said requests may face additional review covering identity verification, device and IP checks, withdrawal-address screening, source-of-funds questions and sanctions checks and warned that processing could stretch if request volumes spike.

BitMart lost about $196 million to a hot-wallet breach in December 2021, one of the larger exchange hacks of that cycle, and covered customer losses at the time.

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Crypto Flows, Share and the Selective Rotation

Crypto Flows, Share and the Selective Rotation

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

By CoinDesk Research

Jul 22, 2026

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

Why it matters :

Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.

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打开原文

海湾停火迹象推动油价回落,但红海相关袭击仍在继续

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
海湾停火迹象推动油价回落,但红海相关袭击仍在继续

海湾停火迹象推动油价回落,但红海相关袭击仍在继续

打开原文

红海冲突升级威胁两大航运咽喉

重要性5/5 高

报道距采集不足两天,直接涉及沙特能源设施、红海油轮、曼德海峡和霍尔木兹海峡,对原油与航运风险具有高时效性和直接相关性;部分事实仍依赖冲突各方陈述。

中文摘要

核心结论

胡塞武装袭击沙特目标、沙特空袭荷台达,使红海航运风险与美伊争夺霍尔木兹海峡控制权形成联动。曼德海峡承载约12%的全球贸易和四分之一的集装箱运输,冲突若延续,原油运输、航线安全与运费面临直接扰动。

重要性评级

评级:5/5(高)

报道发表于美东时间 07/25 05:53(UTC+8 07/25 17:53),距离本批次采集不足两天。事件同时涉及沙特能源设施、红海油轮、两处关键海峡和美国对伊朗港口的封锁,对原油、航运及跨资产风险判断具有较高阅读优先级。

关键事实

  • 伊朗支持的也门胡塞武装称,其以导弹和无人机攻击沙特延布、吉赞两座红海城市的沙特阿美设施,回应沙特对也门荷台达的空袭。
  • 沙特民防部门确认周六清晨两地多次响起警报,但未进一步说明是否发生命中或损失,胡塞武装的战果尚无独立验证。
  • 胡塞武装此前袭击两艘沙特油轮,并威胁封锁曼德海峡内与沙特有关的航运;该海峡连接红海与亚丁湾,约12%的全球贸易及四分之一的集装箱运输经过此处。
  • 沙特领导的联军称,周五晚空袭荷台达省与商船威胁有关的军事目标,并否认袭击港口;胡塞控制的卫生部门称港口及国营电信机构遇袭,造成2人受伤。
  • 伊朗经历连续13晚美国袭击后,当晚未报告新增空袭;美国中央司令部也未宣布新一轮打击,但未立即回应美联社置评请求。
  • 美国已恢复对伊朗港口的封锁。报道配图说明称,美军向一艘试图突破封锁的商船开火,这是封锁恢复后第二艘失去航行能力的商业船只。
  • 伊朗称一艘商船在里海遭乌克兰袭击,造成1人死亡、1人受伤;乌克兰总统泽连斯基则称远程打击命中了参与伊朗军事货运的船只。
  • 报道援引官方数据称,战争已在伊朗造成超过3,400人死亡;黎巴嫩相关战事造成超过4,000人死亡,另有18名美军、24名以色列平民及38名以色列军人死亡。

作者观点与证据

美联社将也门、红海、霍尔木兹海峡及里海事件放入同一地区升级框架,强调冲突正在向能源设施和商业航运扩散。曼德海峡的全球贸易占比、油轮遇袭及美国恢复港口封锁为这一判断提供事实支撑;胡塞武装战果、荷台达受袭范围和里海船只用途主要来自冲突各方陈述,尚缺独立核验。

与相关标的的关系

  • 原油:沙特阿美设施、沙特油轮及伊朗港口封锁均处于原油生产与运输链条,影响路径集中在供应中断风险和海运成本。
  • 红海航线:曼德海峡封锁威胁直接关系红海与亚丁湾之间的通航能力;该水道承载约四分之一的全球集装箱运输。
  • 航运:油轮遇袭、商船遭军事行动以及两大海峡风险并存,可能影响船期、保险费率和绕航需求,但报道未提供即时运价、保险报价或实际改道规模。

时效性与限制

文章于美东时间 07/27 08:42(UTC+8 07/27 20:42)被采集。报道发布后局势仍可能快速变化;伤亡数字来自参战方官方机构,部分袭击结果和责任归属尚未获得独立确认。

后续跟踪

  • 延布、吉赞沙特阿美设施是否出现经独立来源确认的损失或运营中断。
  • 曼德海峡与霍尔木兹海峡的实际通航量、绕航比例及船舶保险费率。
  • 美国与伊朗调停进展,以及美国对伊朗港口封锁的执行范围。
  • 沙特、胡塞武装及其他地区力量是否继续攻击油轮、港口或能源设施。
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World News

Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

1 of 5 |

The U.S. military says it has fired on a merchant vessel attempting to breach its blockade of Iranian ports. It’s the second commercial ship to be disabled since the military reimposed its blockade in the Strait of Hormuz.

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2 of 5 |

President Donald Trump said Friday the U.S. is “locked and loaded” as he weighs a possible major strike on Iran but said “serious” negotiations are continuing.

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3 of 5 |

Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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4 of 5 |

Vehicles drive past a billboard depicting the clenched fist of the late Iranian Supreme Leader Ayatollah Ali Khamenei, in Tehran, Iran, Tuesday, July 21, 2026. (AP Photo/Vahid Salemi)

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5 of 5 |

A woman crosses a street with a girl in downtown Tehran, Iran, Wednesday, July 22, 2026. (AP Photo/Vahid Salemi)

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Iran-backed Houthis fire missiles at Saudi Arabia in response to airstrikes in Yemen

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1 of 5

The U.S. military says it has fired on a merchant vessel attempting to breach its blockade of Iranian ports. It’s the second commercial ship to be disabled since the military reimposed its blockade in the Strait of Hormuz.

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President Donald Trump said Friday the U.S. is “locked and loaded” as he weighs a possible major strike on Iran but said “serious” negotiations are continuing.

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Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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Fireworks burst as Houthi supporters rally against the Saudi-led coalition in Sanaa, Yemen, Monday, July 20, 2026. (AP Photo/Osamah Abdulrahman)

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Vehicles drive past a billboard depicting the clenched fist of the late Iranian Supreme Leader Ayatollah Ali Khamenei, in Tehran, Iran, Tuesday, July 21, 2026. (AP Photo/Vahid Salemi)

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A woman crosses a street with a girl in downtown Tehran, Iran, Wednesday, July 22, 2026. (AP Photo/Vahid Salemi)

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SAMY MAGDY and GIOVANNA DELL’ORTO

Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year]

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CAIRO (AP) — Yemen’s Iran-backed Houthi rebels said Saturday that they fired missiles and drones at Saudi Arabia in response to Saudi airstrikes on the strategic Red Sea city of Hodeida, in an escalation over vital shipping routes in the Middle East while the United States and Iran vie for control of the Strait of Hormuz .

Brig. Gen. Yahya Saree, the Houthis’ military spokesperson, said in a prerecorded statement that the attack targeted facilities in the Red Sea cities of Yanbu and Jizan that belong to Aramco, the world’s largest oil company.

Saudi Arabia’s civil defense said alerts sounded multiple times early Saturday in both cities, but the kingdom didn’t comment further.

There were no reported strikes overnight in Iran, in an apparent break from nearly two weeks of consecutive nights of U.S. attacks .

Red Sea escalation further threatens global shipping

The Houthis have said they would close the Bab el-Mandeb Strait to Saudi-linked shipping in retaliation for the kingdom’s blockade on Yemen and a recent attack on the international airport in Yemen’s rebel-held capital, Sanaa.

“Nothing short of ending the aggression and lifting the blockade, otherwise, it’s all illusion and mirage,” Mahdi al-Mashat, head of the Houthi-led Supreme Political Council governing rebel-controlled territories in Yemen, said of what it would take for the Houthis to not blockade the Bab-El-Mandeb.

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That strait, at the southern tip of the Arabian Peninsula, is a vital shipping chokepoint connecting the Red Sea to the Gulf of Aden. Around 12% of the world’s trade, including a quarter of its container traffic, passes through the narrows.

The Houthis targeted two Saudi oil tankers in the Red Sea this week. In response, Saudi Arabia struck Hodeida, the Saudi-led coalition opposing the rebels said Saturday. The strikes late Friday hit the port and the state-run telecommunications corporation, injuring two people, said Anees al-Asbahi, a spokesperson for the Houthi-run health ministry.

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The Saudi-led coalition said it didn’t hit the port but struck “legitimate military targets” in Hodeida province that “were linked to threats to commercial vessels in the Red Sea.”

Iran’s foreign minister, Abbas Araghchi, called for “diplomacy and dialogue” to solve the Yemen conflict without “military confrontations” in an interview published Saturday by the state-run newspaper called Iran.

Iran condemns Ukrainian attack on commercial vessel

“Iran had a peaceful night,” Hossein Kermanpour, a spokesperson for Iran’s Health Ministry, posted on X. U.S. Central Command didn’t immediately respond to a request for comment. Unlike the previous 13 nights, it didn’t announce new strikes.

But Iran’s foreign ministry condemned what it called a Ukrainian attack Saturday on an Iranian commercial vessel in the Caspian Sea, saying one person was killed and another was hurt and calling it an act of aggression.

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In a separate statement, Araghchi said he spoke with European Union foreign policy chief Kaja Kallas about it and that Tehran demanded a response. Ukraine’s diplomatic representative to Iran was summoned, Iranian state media reported.

Ukrainian President Volodymyr Zelenskyy earlier said on X that Ukraine “achieved very strong results with long‑range strikes in the Caspian Sea — including vessels used in military cargo shipments involving Iran.”

While efforts at mediation between the U.S. and Iran continue, Israeli Prime Minister Benjamin Netanyahu plans to travel to the United States next week and meet with President Donald Trump in Washington on Tuesday, his office said Friday. They last met in Washington in February, weeks before they launched the war .

Over 7,000 people have been killed, including in Lebanon

A tenuous ceasefire that halted major operations for weeks has seemed to unravel this month. The U.S. accused Iran of striking three ships in the Strait of Hormuz and responded by striking dozens of targets in Iran, which retaliated by firing at U.S.-allied Gulf Arab states.

The U.S. military has renewed its blockade of Iran’s ports. Iran’s Revolutionary Guard has advised residents of neighboring countries to stay away from bases with U.S. troops.

The war has killed more than 3,400 people in Iran, according to its Health Ministry. Eighteen U.S. service members, 24 civilians in Israel and smaller numbers of civilians including foreign workers and mariners have been reportedly killed across the region.

In Lebanon, more than 4,000 people have been killed since Iran-backed Hezbollah militants fired at Israel in support of the Islamic Republic two days after the war began and Israel responded with strikes and ground forces. Thirty-eight Israeli troops have also died.

___

Dell’Orto reported from Jerusalem. Associated Press reporter Cara Anna in Lowville, New York, contributed to this report.

SAMY MAGDY

Magdy is a Middle East reporter for The Associated Press, based in Cairo. He focuses on conflict, migration and human rights abuses.

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GIOVANNA DELL’ORTO

Dell’Orto is a multimedia reporter with The AP’s Global Religion team. She has reported across the United States, Europe, Latin America and the Middle East, covering events and issues ranging from the conclave to the Israel-Hamas war to the Olympics, from immigration to the intersection of Indigenous spirituality and the environment.

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WEMIX披露合约所有者权限遭入侵及跨链资金流转

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
WEMIX披露合约所有者权限遭入侵及跨链资金流转

WEMIX披露合约所有者权限遭入侵及跨链资金流转

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Coinbase代币迁移与服务状态

重要性4/5 中高

信息抓取于当日且来自 Coinbase 官方状态页,直接涉及 LCX 迁移、ACX 停牌安排及平台服务可用性;事实时效性和来源质量较高,但影响主要集中在特定代币,未显示广泛市场故障。

中文摘要

核心结论

Coinbase(加密资产交易平台)正在执行 LCX 代币迁移,维护于美东时间 07/27 03:00(UTC+8 07/27 15:00)开始,计划持续至美东时间 07/30 03:00(UTC+8 07/30 15:00);官方要求迁移期间暂停 LCX 充值和转账,并称旧版 LCX 代币将停止支持。页面同时显示 Coinbase 网站、移动端、高级交易、API(应用程序编程接口)及主要数字资产服务处于正常运行状态。

重要性评级

评级:4/5(中高)

这是截至美东时间 07/27 08:42(UTC+8 07/27 20:42)的 Coinbase 官方一手状态信息,直接涉及 LCX 资产迁移和平台转账可用性,也为 BTC(比特币)、ETH(以太坊)和 SOL(Solana 网络原生代币)的平台运行情况提供了即时核验。影响集中于特定代币和平台操作,尚未显示广泛交易系统故障。

关键事实

  • LCX 迁移已于美东时间 07/27 03:00(UTC+8 07/27 15:00)进入执行阶段,维护窗口计划延续至美东时间 07/30 03:00(UTC+8 07/30 15:00)。
  • Coinbase 表示将于 07/27 至 07/29 完成新 LCX 代币转换;其间要求用户暂停 LCX 充值和转账,旧版代币后续不再受支持。
  • 状态页将 LCX 组件标为正常运行,但事件面板仍显示迁移进行中;前者反映组件可用性,后者反映资产迁移限制。
  • Coinbase 网站、移动端、高级交易、美国衍生品、国际衍生品和 API 均显示正常运行。
  • BTC、ETH、SOL 及多数列示数字资产均显示正常运行,页面未报告覆盖这些资产的系统性服务中断。
  • Across Protocol 的 ACX 代币将终止运行。Coinbase 已把 ACX 订单簿切换为仅限价模式,并计划于 07/28(未给出具体时刻)暂停交易。
  • ACX 相关计划维护窗口为美东时间 07/28 03:00(UTC+8 07/28 15:00)至美东时间 08/04 01:00(UTC+8 08/04 13:00);项目方另行提供持有人转换方案。
  • 07/21 的 Webhook(事件回调)投递性能下降、欧洲 SEPA(单一欧元支付区)充提延迟,以及 07/17 的 ETH 和 ERC-20(以太坊代币标准)转出延迟均已标记为解决。

作者观点与证据

页面没有市场判断,内容属于 Coinbase 对自身系统状态、计划维护和历史事故的运营披露。当前迁移状态、组件可用性及维护窗口来自官方状态页,证据强度较高;“资金安全”等表述属于平台自身口径,页面未提供链上记录、订单执行统计或第三方可用性监测数据加以验证。

与相关标的的关系

  • LCX:关联最直接。代币转换、充值与转账限制以及旧代币停止支持会影响 Coinbase 用户的资产迁移流程。
  • BTC、ETH、SOL:状态页显示相关数字资产服务正常,可作为 Coinbase 平台可用性的即时事实;页面没有提供成交量、价差、资金流或价格影响数据。
  • ACX:订单簿已进入仅限价模式,且 07/28(未给出具体时刻)将暂停交易,影响范围集中于 Coinbase 上的 ACX 市场和持有人转换流程。

时效性与限制

页面抓取时间为美东时间 07/27 08:42(UTC+8 07/27 20:42)。状态信息可能随事件更新迅速变化;页面只覆盖 Coinbase 自有产品,不能代表其他交易平台、链上网络或全市场运行情况。LCX 迁移结束状态仍需等待官方后续更新确认。

后续跟踪

  • LCX 迁移是否在计划窗口内完成,以及充值和转账何时恢复。
  • 新旧 LCX 代币的转换比例、合约地址及旧代币停止支持的具体安排。
  • ACX 暂停交易后的订单簿状态和项目方转换进度。
  • Coinbase 网站、交易接口和 BTC、ETH、SOL 服务是否继续保持正常运行。
原文
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LCX Migration

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In progress - Scheduled maintenance is currently in progress. We will provide updates as necessary.

Jul 27 , 2026 - 00:00 PDT

Scheduled - Coinbase will convert to the new LCX token from July 27-29, 2026. Please refrain from depositing or transferring LCX during this time. The legacy LCX token will no longer be supported.

Jul 27 , 2026 00:00 - Jul 30 , 2026 00:00 PDT

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Across Protocol (ACX) Token Changes

Jul 28 , 2026 00:00 - Aug 3 , 2026 22:00 PDT

The ACX token is being wound down by the project team, and they are offering options for ACX holders here: https://forum.across.to/t/the-bridge-across/2097 . Coinbase has moved ACX order books to limit-only mode and will suspend trading of ACX on July 28, 2026.

If you wish to participate in the conversion options offered by the project team, please refer to their documentation and move your ACX to a compatible self-custodial wallet.

Posted on

Jul 14 , 2026 - 13:37 PDT

Past Incidents

Jul 27 , 2026

Unresolved incident: LCX Migration.

Jul 26 , 2026

No incidents reported.

Jul 25 , 2026

No incidents reported.

Jul 24 , 2026

No incidents reported.

Jul 23 , 2026

No incidents reported.

Jul 22 , 2026

Injective (INJ) Migration

Completed -

The scheduled maintenance has been completed.

Jul 22 , 11:36 PDT

In progress -

Scheduled maintenance is currently in progress. We will provide updates as necessary.

Jul 20 , 00:00 PDT

Scheduled -

Coinbase will be migrating Injective (INJ) from Ethereum (ERC-20) to native INJ on the Injective EVM from July 20-22, 2026. Please refrain from depositing or transferring INJ during this time.

Jul 14 , 14:28 PDT

Jul 21 , 2026

Degraded Performance - Webhook Service

Resolved -

This incident has been resolved.

Jul 21 , 23:07 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 21 , 23:07 PDT

Investigating -

We are aware that some users may be experiencing degraded performance with webhook event delivery for Payments, Onramp, Wallets, and Onchain webhooks. Our team is investigating this issue and will provide an update shortly. Your funds are safe.

Jul 21 , 20:48 PDT

Delayed Deposits and Withdrawals - SEPA

Resolved -

This incident has been resolved.

Jul 21 , 09:42 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 21 , 09:42 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 21 , 09:42 PDT

Investigating -

We are aware that some users may be experiencing delayed Deposits and Withdrawals via SEPA. Crypto Sends, Receives and Conversions are not affected. Our team is investigating this issue and will provide an update shortly. Your funds are safe.

Jul 21 , 07:54 PDT

Jul 20 , 2026

Site Performance - Search

Resolved -

This incident has been resolved.

Jul 20 , 07:51 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 20 , 07:19 PDT

Investigating -

We are aware that customers may be unable to perform Search actions on both Mobile App and Web at this time. Our team is investigating this issue and will provide an update. Your funds are safe.

Jul 20 , 06:45 PDT

Jul 19 , 2026

No incidents reported.

Jul 18 , 2026

Degraded Performance - SEPA Direct Debit Deposits (EU)

Resolved -

This incident has been resolved.

Jul 18 , 23:48 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 18 , 23:47 PDT

Update -

We are continuing to investigate this issue.

Jul 18 , 08:52 PDT

Investigating -

We are aware that some users in Germany and the EU may be experiencing degraded performance when making SEPA Direct Debit (SDD) deposits. SEPA Credit Transfers and all other payment methods remain unaffected. Our team is investigating this issue and will provide an update shortly. Your funds are safe.

Jul 18 , 06:59 PDT

Delayed Sends and Receives - Kusama

Resolved -

This incident has been resolved.

Jul 18 , 11:45 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 18 , 11:45 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 18 , 11:45 PDT

Investigating -

Some users may experience delayed sends and receives for Kusama (KSM). Buys, Sells, and Fiat withdrawals/deposits remain unaffected. We're working on this issue and will provide updates as soon as possible. Your funds are safe.

Jul 18 , 09:36 PDT

Delayed Sends / Receives - ZEC

Resolved -

This incident has been resolved.

Jul 18 , 00:48 PDT

Investigating -

We are aware that some users may be experiencing delayed sends and receives for Zcash (ZEC). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe.

Jul 17 , 19:50 PDT

Jul 17 , 2026

Delayed Receives - CGLD

Resolved -

This incident has been resolved.

Jul 17 , 20:59 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 17 , 20:59 PDT

Investigating -

We are aware that some users may be experiencing delayed receives for Celo (CGLD). Sends, Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe.

Jul 17 , 17:50 PDT

Delayed Sends - ETH and ERC-20 Tokens

Resolved -

This incident has been resolved.

Jul 17 , 07:37 PDT

Investigating -

We are aware that some users may be experiencing delayed sends on the Ethereum network. Buys, Sells, and Fiat withdrawals/deposits remain unaffected. We are working on this issue and will provide updates as the situation changes. Your funds are safe.

Jul 17 , 06:31 PDT

Jul 16 , 2026

TAO - Delayed Sends & Receives

Resolved -

This incident has been resolved.

Jul 16 , 18:56 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 16 , 18:56 PDT

Investigating -

We are aware that some users may be experiencing delayed sends and receives for Bittensor (TAO). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe.

Jul 16 , 15:55 PDT

Delayed Sends and Receives - Cosmos (ATOM)

Resolved -

This incident has been resolved.

Jul 16 , 11:49 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 16 , 11:49 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 16 , 11:35 PDT

Investigating -

Some users may experience delayed sends and receives for ATOM. Buys, Sells, and Fiat withdrawals/deposits remain unaffected. We're working on this issue and will provide updates as soon as possible. Your funds are safe.

Jul 16 , 10:10 PDT

Jul 15 , 2026

BLAST - Delayed Sends & Receives

Resolved -

This incident has been resolved.

Jul 15 , 12:00 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 15 , 12:00 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 15 , 12:00 PDT

Investigating -

We are aware that some users may be experiencing delayed sends and receives for Blast (BLAST). Buys, Sells, and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly. Rest assured, your funds are safe.

Jul 15 , 09:02 PDT

Jul 14 , 2026

Degraded performance on multiple platforms

Resolved -

This incident has been resolved.

Jul 14 , 11:01 PDT

Monitoring -

We are starting to see recovery. Some products may still experience a degraded performance until fully recovered. We are monitoring results. Your funds are safe.

Jul 14 , 10:33 PDT

Investigating -

We are aware that some users may be experiencing degraded trading performance on Coinbase.com for multiple products. Our team is investigating this issue and will provide an update shortly. Your funds are safe.

Jul 14 , 10:02 PDT

Delayed Sends and Receives - FLR

Resolved -

This incident has been resolved.

Jul 14 , 09:25 PDT

Monitoring -

A fix has been implemented and we are monitoring the results.

Jul 14 , 09:24 PDT

Identified -

The issue has been identified and a fix is being implemented.

Jul 14 , 09:24 PDT

Investigating -

We are aware that some users may be experiencing delayed sends and receives on the Flare network. Buys, Sells, and Fiat withdrawals/deposits remain unaffected. We are working on this issue and will provide updates as the situation changes. Rest assured your funds are safe.

Jul 14 , 06:28 PDT

Jul 13 , 2026

No incidents reported.

&larr; Incident History

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上半年工业利润增长但行业分化

重要性5/5 高

最新官方工业盈利数据与A股工业板块及中国增长预期直接相关,覆盖利润、行业分化、资产负债表和经营效率,证据质量与事实密度均高。

中文摘要

核心结论

2026年上半年,全国规模以上工业企业利润同比增长18.7%,增速明显高于营业收入的6.5%,成本率下降推动营业收入利润率改善。利润修复集中于有色金属、电子、化工和采矿等行业,汽车、黑色金属及建材仍承压,工业盈利结构分化较大。

重要性评级

评级:5/5(高)

国家统计局最新发布的全国工业企业财务数据覆盖面广,直接反映A股工业板块的盈利环境,并为人民币相关的中国增长预期提供高质量宏观证据。行业利润、资产负债表和经营效率指标密集,适合当日日报优先阅读。

关键事实

  • 国家统计局于美东时间 07/26 21:30(UTC+8 07/27 09:30)发布数据:2026年1—6月,全国规模以上工业企业利润总额为39479.9亿元,按可比口径同比增长18.7%;6月单月利润同比增长15.1%。
  • 上半年营业收入为69.26万亿元,同比增长6.5%;营业成本为58.80万亿元,增长5.9%。营业收入利润率升至5.70%,同比提高0.59个百分点,每百元营业收入成本减少0.55元至84.89元。
  • 制造业利润为29712.1亿元,同比增长20.1%;采矿业利润增长33.5%;电力、热力、燃气及水生产和供应业利润下降4.2%。
  • 企业类型之间差异明显:股份制企业利润增长24.7%,国有控股企业增长17.9%,私营企业增长13.0%,外商及港澳台投资企业仅增长2.6%。
  • 有色金属冶炼和压延加工业利润增长99.4%,计算机、通信和其他电子设备制造业增长96.9%,化学原料和化学制品制造业增长67.8%;石油、煤炭及其他燃料加工业由亏损转为盈利。
  • 汽车制造业利润下降19.5%,黑色金属冶炼和压延加工业下降25.0%,非金属矿物制品业下降47.8%,电气机械和器材制造业下降8.6%。
  • 6月末,资产负债率为58.3%,同比上升0.3个百分点;应收账款增长8.1%至28.60万亿元,产成品存货增长9.5%至7.11万亿元。存货周转天数增加0.4天至21.1天,应收账款平均回收期增加0.8天至71.7天。

作者观点与证据

文章属于国家统计局数据发布,没有提供行业前景判断或政策解释。数据支持“收入增长、成本增速较低、利润率改善”的盈利修复判断,也显示利润增长高度集中于少数上游和电子行业。应收账款、存货及周转天数同步上升,说明利润改善尚未完全转化为更快的资金回收和库存周转。

证据来自规模以上工业企业月度全面调查,统计范围为年主营业务收入2000万元及以上的工业法人单位。文中同比增速经过可比口径调整,不能用本期绝对值与上年曾公布的绝对值直接计算增速。

与相关标的的关系

对A股工业板块,数据提供行业盈利方向参考:有色金属、电子设备、化工和采矿业利润增幅较高,汽车、钢铁、建材及部分电气设备行业盈利下降。行业汇总无法反映单家上市公司的产品结构、价格、海外收入和一次性损益,不能直接映射为个股业绩。

对人民币,该数据有助于判断中国工业盈利和名义经营活动,但人民币还受利差、资本流动、贸易收支及政策预期影响,单项工业利润数据的解释力有限。

时效性与限制

该数据覆盖2026年1—6月,发布时点接近当日日报,时效性高。调查范围会因企业达到或退出规模标准、新建投产、破产注销及统计执法调整而变化;国家统计局据此修正基数并计算可比增速。数据仅覆盖规模以上企业,且6月单月仅披露利润同比增速,缺少单月利润额和环比信息。

后续跟踪

  • 7月工业企业利润能否延续两位数同比增长。
  • 有色金属、电子和化工行业的高利润增速是否持续,以及基数效应的贡献。
  • 汽车、钢铁和建材行业利润降幅是否收窄。
  • 应收账款、产成品存货及周转天数是否继续上升。
原文
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1 — 6 月份,全国规模以上工业企业实现利润总额 39479.9 亿元,同比增长 18.7% (按可比口径计算,详见附注二)。

1 — 6 月份,规模以上工业企业中,国有控股企业实现利润总额 13077.4 亿元,同比增长 17.9% ;股份制企业实现利润总额 30443.2 亿元,增长 24.7% ;外商及港澳台投资企业实现利润总额 8873.2 亿元,增长 2.6% ;私营企业实现利润总额 9655.6 亿元,增长 13.0% 。

1 — 6 月份,采矿业实现利润总额 5745.0 亿元,同比增长 33.5% ;制造业实现利润总额 29712.1 亿元,增长 20.1% ;电力、热力、燃气及水生产和供应业实现利润总额 4022.7 亿元,下降 4.2% 。

1 — 6 月份,主要行业利润情况如下:有色金属冶炼和压延加工业利润同比增长 99.4% ,计算机、通信和其他电子设备制造业增长 96.9% ,化学原料和化学制品制造业增长 67.8% ,煤炭开采和洗选业增长 41.1% ,石油和天然气开采业增长 16.6% ,纺织业增长 16.6% ,通用设备制造业增长 1.5% ,专用设备制造业下降 0.1% ,电力、热力生产和供应业下降 6.2% ,电气机械和器材制造业下降 8.6% ,农副食品加工业下降 12.0% ,汽车制造业下降 19.5% ,黑色金属冶炼和压延加工业下降 25.0% ,非金属矿物制品业下降 47.8% ,石油、煤炭及其他燃料加工业由亏转盈。

1 — 6 月份,规模以上工业企业实现营业收入 69.26 万亿元,同比增长 6.5% ;发生营业成本 58.80 万亿元,增长 5.9% ;营业收入利润率为 5.70% ,同比提高 0.59 个百分点。

6 月末,规模以上工业企业资产总计 194.60 万亿元,同比增长 6.1% ;负债合计 113.52 万亿元,增长 6.6% ;所有者权益合计 81.08 万亿元,增长 5.4% ;资产负债率为 58.3% ,同比上升 0.3 个百分点。

6 月末,规模以上工业企业应收账款 28.60 万亿元,同比增长 8.1% ;产成品存货 7.11 万亿元,增长 9.5% 。

1 — 6 月份,规模以上工业企业每百元营业收入中的成本为 84.89 元,同比减少 0.55 元;每百元营业收入中的费用为 8.45 元,同比减少 0.06 元。

6 月末,规模以上工业企业每百元资产实现的营业收入为 72.3 元,同比增加 0.5 元;人均营业收入为 191.3 万元,同比增加 12.7 万元;产成品存货周转天数为 21.1 天,同比增加 0.4 天;应收账款平均回收期为 71.7 天,同比增加 0.8 天。

6 月份,规模以上工业企业利润同比增长 15.1% 。

表 1   2026 年 1-6 月份规模以上工业企业主要财务指标

分 组

营业收入

营业成本

利润总额

金额

( 亿元 )

同比增长

(%)

金额

( 亿元 )

同比增长

(%)

金额

( 亿元 )

同比增长

(%)

总计

692614.2

6.5

587953.3

5.9

39479.9

18.7

其中:采矿业

27304.0

8.5

17725.8

2.6

5745.0

33.5

制造业

603279.2

7.1

514712.9

6.4

29712.1

20.1

电力、热力、燃气及水生产和供应业

62031.0

1.0

55514.5

1.8

4022.7

-4.2

其中:国有控股企业

191657.4

5.7

159866.3

5.0

13077.4

17.9

其中:股份制企业

562635.6

7.3

479158.5

6.5

30443.2

24.7

外商及港澳台投资企业

127016.6

3.6

106289.9

3.4

8873.2

2.6

其中:私营企业

241468.4

5.3

208112.9

5.0

9655.6

13.0

注:

1. 经济类型分组之间存在交叉,故各经济类型企业数据之和大于总计。

2. 本表部分指标存在总计不等于分项之和情况,是数据四舍五入所致,未作机械调整。

点击下载: 相关数据表

表 2   2026 年 1-6 月份规模以上工业企业经济效益指标

分 组

营业收入

利润率

每百元营业

收入中的

成本

每百元营业

收入中的

费用

每百元资产实现的

营业收入

人均营业

收入

资产负债率

产成品

存货

周转天数

应收账款

平均回收期

1-6月

1-6月

1-6月

6月末

6月末

6月末

6月末

6月末

(%)

( 元 )

( 元 )

( 元 )

( 万元 / 人 )

(%)

( 天 )

( 天 )

总计

5.70

84.89

8.45

72.3

191.3

58.3

21.1

71.7

其中:采矿业

21.04

64.92

9.43

36.7

143.3

57.1

15.5

53.5

制造业

4.93

85.32

8.74

85.1

184.8

58.0

23.5

73.3

电力、热力、燃气及水生产和供应业

6.48

89.49

5.18

35.6

374.7

60.4

1.2

63.4

其中:国有控股企业

6.82

83.41

5.86

53.8

328.0

57.7

12.6

55.6

其中:股份制企业

5.41

85.16

8.23

71.0

190.5

59.4

21.3

69.5

外商及港澳台投资企业

6.99

83.68

9.44

79.0

198.5

53.0

19.9

81.3

其中:私营企业

4.00

86.19

9.95

90.7

139.7

59.8

26.6

75.6

表 3   2026 年 1-6 月份规模以上工业企业主要财务指标(分行业)

行 业

营业收入

营业成本

利润总额

金额

同比增长

金额

同比增长

金额

同比增长

( 亿元 )

(%)

( 亿元 )

(%)

( 亿元 )

(%)

总计

692614.2

6.5

587953.3

5.9

39479.9

18.7

煤炭开采和洗选业

13598.0

9.3

9474.0

4.7

2107.2

41.1

石油和天然气开采业

6535.0

12.8

3422.5

8.7

2115.9

16.6

黑色金属矿采选业

2147.1

-6.1

1692.8

-7.0

255.8

4.7

有色金属矿采选业

2648.2

34.2

1230.4

8.7

1074.7

80.0

非金属矿采选业

1402.1

-10.3

1007.2

-9.4

149.3

10.1

开采专业及辅助性活动

972.4

-11.4

897.9

-12.0

42.0

136.0

其他采矿业

1.2

-20.0

0.9

-18.2

0.1

0.0

农副食品加工业

25046.4

3.3

23270.5

3.5

479.6

-12.0

食品制造业

10955.8

5.4

8603.2

5.4

865.9

4.6

酒、饮料和精制茶制造业

6954.9

-7.0

4534.6

-4.6

1113.3

-17.7

烟草制品业

8481.6

2.5

2356.9

2.8

1149.7

-0.4

纺织业

10594.5

2.6

9435.9

2.2

288.4

16.6

纺织服装、服饰业

4771.0

-2.8

4030.0

-3.6

122.1

-28.0

皮革、毛皮、羽毛及其制品和制鞋业

3233.3

-3.8

2799.5

-3.8

108.4

-15.2

木材加工和木、竹、藤、棕、草制品业

3103.9

-13.9

2853.0

-13.6

51.7

-33.7

家具制造业

2576.1

-8.6

2142.5

-8.1

45.7

-52.7

造纸和纸制品业

6897.9

5.5

6077.3

5.2

196.1

27.5

印刷和记录媒介复制业

2971.2

0.9

2482.1

1.1

119.8

-13.8

文教、工美、体育和娱乐用品制造业

5991.5

-5.5

5262.6

-6.2

164.6

-13.8

石油、煤炭及其他燃料加工业

26510.7

4.6

22155.9

2.0

432.9

(注 1 )

化学原料和化学制品制造业

47072.7

10.0

40140.1

7.8

2880.9

67.8

医药制造业

11717.8

0.0

6704.3

0.8

1773.2

4.2

化学纤维制造业

5078.5

0.2

4572.4

-2.7

222.0

102.0

橡胶和塑料制品业

15033.9

3.0

12692.0

2.5

692.4

-1.1

非金属矿物制品业

19111.8

-9.1

16449.2

-8.7

296.7

-47.8

黑色金属冶炼和压延加工业

36770.2

-0.6

35007.0

-0.4

317.7

-25.0

有色金属冶炼和压延加工业

55049.0

21.2

50711.3

18.4

3109.1

99.4

金属制品业

22885.1

4.1

20372.5

4.3

605.1

-10.0

通用设备制造业

25430.1

5.7

20677.9

5.7

1626.1

1.5

专用设备制造业

19103.3

7.0

14895.3

7.2

1242.5

-0.1

汽车制造业

51893.2

1.8

46100.3

2.8

1953.5

-19.5

铁路、船舶、航空航天和其他运输设备制造业

9065.2

12.4

7486.3

11.6

737.7

13.2

电气机械和器材制造业

59365.1

9.7

51603.7

10.4

2598.3

-8.6

计算机、通信和其他电子设备制造业

94078.2

18.5

79832.0

15.4

5777.1

96.9

仪器仪表制造业

5357.2

6.2

3975.9

6.2

461.7

-5.1

其他制造业

1046.7

6.6

857.5

6.2

52.3

-1.9

废弃资源综合利用业

5705.0

3.2

5411.0

1.9

127.4

104.5

金属制品、机械和设备修理业

1427.5

12.8

1220.2

13.7

100.3

26.3

电力、热力生产和供应业

48134.1

0.9

43006.1

1.9

3352.8

-6.2

燃气生产和供应业

11643.2

2.0

10867.3

2.0

480.0

8.9

水的生产和供应业

2253.7

-0.3

1641.1

-0.2

190.0

4.2

注:

1. 石油、煤炭及其他燃料加工业上年同期为亏损,无法计算同比增速。

2. 本表部分指标存在总计不等于分项之和情况,是数据四舍五入所致,未作机械调整。

附注

一、指标解释及相关说明

1.利润总额:指企业在生产经营过程中各种收入扣除各种耗费后的盈余,反映企业在报告期内实现的盈亏总额。

2.营业收入:指企业从事销售商品、提供劳务和让渡资产使用权等生产经营活动形成的经济利益流入。包括主营业务收入和其他业务收入。

3.营业成本:指企业从事销售商品、提供劳务和让渡资产使用权等生产经营活动发生的实际成本。包括主营业务成本和其他业务成本。营业成本应当与营业收入进行配比。

4.资产总计:指企业过去的交易或者事项形成的、由企业拥有或者控制的、预期会给企业带来经济利益的资源。

5.负债合计:指企业过去的交易或者事项形成的、预期会导致经济利益流出企业的现时义务。

6.所有者权益合计:指企业资产扣除负债后由所有者享有的剩余权益。

7.应收账款:指资产负债表日以摊余成本计量的,企业因销售商品、提供服务等经营活动应收取的款项。

8.产成品存货:指企业已经完成全部生产过程并验收入库,可以按照合同规定的条件送交订货单位,或者可以作为商品对外销售的产品;以及外购或委托加工完成验收入库用于销售的各种商品。

9.营业收入利润率=利润总额÷营业收入×100%,单位:%。

10.每百元营业收入中的成本=营业成本÷营业收入×100,单位:元。

11.每百元营业收入中的费用=(销售费用+管理费用+研发费用+财务费用)÷营业收入×100,单位:元。

12.每百元资产实现的营业收入=营业收入÷平均资产÷累计月数×12×100,单位:元。

13.人均营业收入=营业收入÷平均用工人数÷累计月数×12,单位:万元/人。

14.资产负债率=负债合计÷资产总计×100%,单位:%。

15.产成品存货周转天数=360×平均产成品存货÷营业成本×累计月数÷12,单位:天。

16.应收账款平均回收期=360×平均应收账款÷营业收入×累计月数÷12,单位:天。

17.在各表的利润总额同比增长栏中,标“注”的表示上年同期利润总额为负数(即亏损)或为0.0亿元;数值为正数的表明利润同比增长;数值在0至-100%之间(不含0)的表明利润同比下降;下降幅度超过100%的表明由上年同期盈利转为本期亏损;数值为0的表明利润与上年持平。

二、规模以上工业企业利润总额、营业收入等指标的增速均按可比口径计算。报告期数据与上年所公布的同指标数据之间有不可比因素,不能直接相比计算增速。其主要原因是:(一)根据统计制度,每年定期对规模以上工业企业调查范围进行调整。每年有部分企业达到规模标准纳入调查范围,也有部分企业因规模变小而退出调查范围,还有新建投产企业、破产、注(吊)销企业等变化。(二)加强统计执法,对统计执法检查中发现的不符合规模以上工业统计要求的企业进行了清理,对相关基数依规进行了修正。(三)加强数据质量管理,剔除跨地区、跨行业重复统计数据。

三、统计范围

规模以上工业企业,即年主营业务收入为2000万元及以上的工业法人单位。

四、调查方法

规模以上工业企业财务状况报表按月进行全面调查(1月份数据免报)。

五、行业分类标准

执行国民经济行业分类标准(GB/T 4754-2017)。

1 — 6 月份,全国规模以上工业企业实现利润总额 39479.9 亿元,同比增长 18.7% (按可比口径计算,详见附注二)。

1 — 6 月份,规模以上工业企业中,国有控股企业实现利润总额 13077.4 亿元,同比增长 17.9% ;股份制企业实现利润总额 30443.2 亿元,增长 24.7% ;外商及港澳台投资企业实现利润总额 8873.2 亿元,增长 2.6% ;私营企业实现利润总额 9655.6 亿元,增长 13.0% 。

1 — 6 月份,采矿业实现利润总额 5745.0 亿元,同比增长 33.5% ;制造业实现利润总额 29712.1 亿元,增长 20.1% ;电力、热力、燃气及水生产和供应业实现利润总额 4022.7 亿元,下降 4.2% 。

1 — 6 月份,主要行业利润情况如下:有色金属冶炼和压延加工业利润同比增长 99.4% ,计算机、通信和其他电子设备制造业增长 96.9% ,化学原料和化学制品制造业增长 67.8% ,煤炭开采和洗选业增长 41.1% ,石油和天然气开采业增长 16.6% ,纺织业增长 16.6% ,通用设备制造业增长 1.5% ,专用设备制造业下降 0.1% ,电力、热力生产和供应业下降 6.2% ,电气机械和器材制造业下降 8.6% ,农副食品加工业下降 12.0% ,汽车制造业下降 19.5% ,黑色金属冶炼和压延加工业下降 25.0% ,非金属矿物制品业下降 47.8% ,石油、煤炭及其他燃料加工业由亏转盈。

1 — 6 月份,规模以上工业企业实现营业收入 69.26 万亿元,同比增长 6.5% ;发生营业成本 58.80 万亿元,增长 5.9% ;营业收入利润率为 5.70% ,同比提高 0.59 个百分点。

6 月末,规模以上工业企业资产总计 194.60 万亿元,同比增长 6.1% ;负债合计 113.52 万亿元,增长 6.6% ;所有者权益合计 81.08 万亿元,增长 5.4% ;资产负债率为 58.3% ,同比上升 0.3 个百分点。

6 月末,规模以上工业企业应收账款 28.60 万亿元,同比增长 8.1% ;产成品存货 7.11 万亿元,增长 9.5% 。

1 — 6 月份,规模以上工业企业每百元营业收入中的成本为 84.89 元,同比减少 0.55 元;每百元营业收入中的费用为 8.45 元,同比减少 0.06 元。

6 月末,规模以上工业企业每百元资产实现的营业收入为 72.3 元,同比增加 0.5 元;人均营业收入为 191.3 万元,同比增加 12.7 万元;产成品存货周转天数为 21.1 天,同比增加 0.4 天;应收账款平均回收期为 71.7 天,同比增加 0.8 天。

6 月份,规模以上工业企业利润同比增长 15.1% 。

表 1   2026 年 1-6 月份规模以上工业企业主要财务指标

分 组

营业收入

营业成本

利润总额

金额

( 亿元 )

同比增长

(%)

金额

( 亿元 )

同比增长

(%)

金额

( 亿元 )

同比增长

(%)

总计

692614.2

6.5

587953.3

5.9

39479.9

18.7

其中:采矿业

27304.0

8.5

17725.8

2.6

5745.0

33.5

制造业

603279.2

7.1

514712.9

6.4

29712.1

20.1

电力、热力、燃气及水生产和供应业

62031.0

1.0

55514.5

1.8

4022.7

-4.2

其中:国有控股企业

191657.4

5.7

159866.3

5.0

13077.4

17.9

其中:股份制企业

562635.6

7.3

479158.5

6.5

30443.2

24.7

外商及港澳台投资企业

127016.6

3.6

106289.9

3.4

8873.2

2.6

其中:私营企业

241468.4

5.3

208112.9

5.0

9655.6

13.0

注:

1. 经济类型分组之间存在交叉,故各经济类型企业数据之和大于总计。

2. 本表部分指标存在总计不等于分项之和情况,是数据四舍五入所致,未作机械调整。

点击下载: 相关数据表

表 2   2026 年 1-6 月份规模以上工业企业经济效益指标

分 组

营业收入

利润率

每百元营业

收入中的

成本

每百元营业

收入中的

费用

每百元资产实现的

营业收入

人均营业

收入

资产负债率

产成品

存货

周转天数

应收账款

平均回收期

1-6月

1-6月

1-6月

6月末

6月末

6月末

6月末

6月末

(%)

( 元 )

( 元 )

( 元 )

( 万元 / 人 )

(%)

( 天 )

( 天 )

总计

5.70

84.89

8.45

72.3

191.3

58.3

21.1

71.7

其中:采矿业

21.04

64.92

9.43

36.7

143.3

57.1

15.5

53.5

制造业

4.93

85.32

8.74

85.1

184.8

58.0

23.5

73.3

电力、热力、燃气及水生产和供应业

6.48

89.49

5.18

35.6

374.7

60.4

1.2

63.4

其中:国有控股企业

6.82

83.41

5.86

53.8

328.0

57.7

12.6

55.6

其中:股份制企业

5.41

85.16

8.23

71.0

190.5

59.4

21.3

69.5

外商及港澳台投资企业

6.99

83.68

9.44

79.0

198.5

53.0

19.9

81.3

其中:私营企业

4.00

86.19

9.95

90.7

139.7

59.8

26.6

75.6

表 3   2026 年 1-6 月份规模以上工业企业主要财务指标(分行业)

行 业

营业收入

营业成本

利润总额

金额

同比增长

金额

同比增长

金额

同比增长

( 亿元 )

(%)

( 亿元 )

(%)

( 亿元 )

(%)

总计

692614.2

6.5

587953.3

5.9

39479.9

18.7

煤炭开采和洗选业

13598.0

9.3

9474.0

4.7

2107.2

41.1

石油和天然气开采业

6535.0

12.8

3422.5

8.7

2115.9

16.6

黑色金属矿采选业

2147.1

-6.1

1692.8

-7.0

255.8

4.7

有色金属矿采选业

2648.2

34.2

1230.4

8.7

1074.7

80.0

非金属矿采选业

1402.1

-10.3

1007.2

-9.4

149.3

10.1

开采专业及辅助性活动

972.4

-11.4

897.9

-12.0

42.0

136.0

其他采矿业

1.2

-20.0

0.9

-18.2

0.1

0.0

农副食品加工业

25046.4

3.3

23270.5

3.5

479.6

-12.0

食品制造业

10955.8

5.4

8603.2

5.4

865.9

4.6

酒、饮料和精制茶制造业

6954.9

-7.0

4534.6

-4.6

1113.3

-17.7

烟草制品业

8481.6

2.5

2356.9

2.8

1149.7

-0.4

纺织业

10594.5

2.6

9435.9

2.2

288.4

16.6

纺织服装、服饰业

4771.0

-2.8

4030.0

-3.6

122.1

-28.0

皮革、毛皮、羽毛及其制品和制鞋业

3233.3

-3.8

2799.5

-3.8

108.4

-15.2

木材加工和木、竹、藤、棕、草制品业

3103.9

-13.9

2853.0

-13.6

51.7

-33.7

家具制造业

2576.1

-8.6

2142.5

-8.1

45.7

-52.7

造纸和纸制品业

6897.9

5.5

6077.3

5.2

196.1

27.5

印刷和记录媒介复制业

2971.2

0.9

2482.1

1.1

119.8

-13.8

文教、工美、体育和娱乐用品制造业

5991.5

-5.5

5262.6

-6.2

164.6

-13.8

石油、煤炭及其他燃料加工业

26510.7

4.6

22155.9

2.0

432.9

(注 1 )

化学原料和化学制品制造业

47072.7

10.0

40140.1

7.8

2880.9

67.8

医药制造业

11717.8

0.0

6704.3

0.8

1773.2

4.2

化学纤维制造业

5078.5

0.2

4572.4

-2.7

222.0

102.0

橡胶和塑料制品业

15033.9

3.0

12692.0

2.5

692.4

-1.1

非金属矿物制品业

19111.8

-9.1

16449.2

-8.7

296.7

-47.8

黑色金属冶炼和压延加工业

36770.2

-0.6

35007.0

-0.4

317.7

-25.0

有色金属冶炼和压延加工业

55049.0

21.2

50711.3

18.4

3109.1

99.4

金属制品业

22885.1

4.1

20372.5

4.3

605.1

-10.0

通用设备制造业

25430.1

5.7

20677.9

5.7

1626.1

1.5

专用设备制造业

19103.3

7.0

14895.3

7.2

1242.5

-0.1

汽车制造业

51893.2

1.8

46100.3

2.8

1953.5

-19.5

铁路、船舶、航空航天和其他运输设备制造业

9065.2

12.4

7486.3

11.6

737.7

13.2

电气机械和器材制造业

59365.1

9.7

51603.7

10.4

2598.3

-8.6

计算机、通信和其他电子设备制造业

94078.2

18.5

79832.0

15.4

5777.1

96.9

仪器仪表制造业

5357.2

6.2

3975.9

6.2

461.7

-5.1

其他制造业

1046.7

6.6

857.5

6.2

52.3

-1.9

废弃资源综合利用业

5705.0

3.2

5411.0

1.9

127.4

104.5

金属制品、机械和设备修理业

1427.5

12.8

1220.2

13.7

100.3

26.3

电力、热力生产和供应业

48134.1

0.9

43006.1

1.9

3352.8

-6.2

燃气生产和供应业

11643.2

2.0

10867.3

2.0

480.0

8.9

水的生产和供应业

2253.7

-0.3

1641.1

-0.2

190.0

4.2

注:

1. 石油、煤炭及其他燃料加工业上年同期为亏损,无法计算同比增速。

2. 本表部分指标存在总计不等于分项之和情况,是数据四舍五入所致,未作机械调整。

附注

一、指标解释及相关说明

1.利润总额:指企业在生产经营过程中各种收入扣除各种耗费后的盈余,反映企业在报告期内实现的盈亏总额。

2.营业收入:指企业从事销售商品、提供劳务和让渡资产使用权等生产经营活动形成的经济利益流入。包括主营业务收入和其他业务收入。

3.营业成本:指企业从事销售商品、提供劳务和让渡资产使用权等生产经营活动发生的实际成本。包括主营业务成本和其他业务成本。营业成本应当与营业收入进行配比。

4.资产总计:指企业过去的交易或者事项形成的、由企业拥有或者控制的、预期会给企业带来经济利益的资源。

5.负债合计:指企业过去的交易或者事项形成的、预期会导致经济利益流出企业的现时义务。

6.所有者权益合计:指企业资产扣除负债后由所有者享有的剩余权益。

7.应收账款:指资产负债表日以摊余成本计量的,企业因销售商品、提供服务等经营活动应收取的款项。

8.产成品存货:指企业已经完成全部生产过程并验收入库,可以按照合同规定的条件送交订货单位,或者可以作为商品对外销售的产品;以及外购或委托加工完成验收入库用于销售的各种商品。

9.营业收入利润率=利润总额÷营业收入×100%,单位:%。

10.每百元营业收入中的成本=营业成本÷营业收入×100,单位:元。

11.每百元营业收入中的费用=(销售费用+管理费用+研发费用+财务费用)÷营业收入×100,单位:元。

12.每百元资产实现的营业收入=营业收入÷平均资产÷累计月数×12×100,单位:元。

13.人均营业收入=营业收入÷平均用工人数÷累计月数×12,单位:万元/人。

14.资产负债率=负债合计÷资产总计×100%,单位:%。

15.产成品存货周转天数=360×平均产成品存货÷营业成本×累计月数÷12,单位:天。

16.应收账款平均回收期=360×平均应收账款÷营业收入×累计月数÷12,单位:天。

17.在各表的利润总额同比增长栏中,标“注”的表示上年同期利润总额为负数(即亏损)或为0.0亿元;数值为正数的表明利润同比增长;数值在0至-100%之间(不含0)的表明利润同比下降;下降幅度超过100%的表明由上年同期盈利转为本期亏损;数值为0的表明利润与上年持平。

二、规模以上工业企业利润总额、营业收入等指标的增速均按可比口径计算。报告期数据与上年所公布的同指标数据之间有不可比因素,不能直接相比计算增速。其主要原因是:(一)根据统计制度,每年定期对规模以上工业企业调查范围进行调整。每年有部分企业达到规模标准纳入调查范围,也有部分企业因规模变小而退出调查范围,还有新建投产企业、破产、注(吊)销企业等变化。(二)加强统计执法,对统计执法检查中发现的不符合规模以上工业统计要求的企业进行了清理,对相关基数依规进行了修正。(三)加强数据质量管理,剔除跨地区、跨行业重复统计数据。

三、统计范围

规模以上工业企业,即年主营业务收入为2000万元及以上的工业法人单位。

四、调查方法

规模以上工业企业财务状况报表按月进行全面调查(1月份数据免报)。

五、行业分类标准

执行国民经济行业分类标准(GB/T 4754-2017)。

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中国工业利润仍增长,但6月增速较5月放缓

重要性
中文摘要

中文摘要生成失败:Original article body is missing or not ready.

原文
中国工业利润仍增长,但6月增速较5月放缓

中国工业利润仍增长,但6月增速较5月放缓

打开原文

美国扩围制裁赞贾尼金融网络

重要性4/5 中高

官方制裁行动新近生效,主体与业务链条清晰,直接影响数字资产平台和跨境支付合规;缺少具体市场规模及主流资产价格传导证据。

中文摘要

核心结论

美国财政部在07/24(未给出具体时刻)扩大对伊朗商人巴巴克·赞贾尼关联网络的制裁,新增指定4名个人和9家实体,覆盖控股、黄金、铁路、航空、支付及数字资产业务。官方材料显示,Zedcex和Zedxion两家数字资产交易平台借助土耳其与阿联酋实体取得法币结算、跨境支付和钱包支持,制裁风险已沿服务商、管理人员及关联企业扩散。

重要性评级

评级:4/5(中高)

材料来自美国财政部,主体名单、法律依据和业务链条清晰,对数字资产平台及跨境支付合规具有较强时效性;输入没有直接股票代码或可量化市场冲击,阅读优先级低于直接影响主要资产价格的政策事件。

关键事实

  • OFAC(美国财政部海外资产控制办公室)依据第13902号行政令指定4名个人和9家实体,认定其构成赞贾尼制裁规避网络的重要组成部分。
  • 赞贾尼的业务横跨金融服务、黄金与宝石、数字资产交易、运输和基础设施,被财政部指用于隐匿所有权、清洗收入并转移资金。
  • OFAC已于01/30(未给出具体时刻)指定赞贾尼及其英国注册交易平台Zedcex、Zedxion;财政部称,相关地址曾为归属于IRGC(伊朗伊斯兰革命卫队)的钱包处理资金。
  • Dot One Value Creation Group是该集团主要控股平台。旗下铁路公司曾在2025年4月获得一份8亿美元的伊朗铁路合同。
  • DotOne Gold Company负责金条铸造、生产与保管,并参与据称由黄金支持的Tala Token(塔拉代币);2025年初有大量该代币通过Zedcex基础设施流转。
  • 土耳其金融科技企业Zedpay与Zedxion直接整合,为其提供数字钱包、法币结算和跨境支付能力;迪拜企业Zedx DMCC则被指代表Zedcex处理交易平台钱包事务。
  • 迪拜钻石商BZ Diamond曾推广Zedxion的NFT(非同质化代币)市场、发行链上代币,并与Zedxion及Zedcex钱包发生多笔交易。
  • 被指定主体在美国境内或由美国人士控制的财产将被冻结;被其直接或间接合计持有50%及以上的实体也适用冻结规则。

作者观点与证据

这是美国财政部的行政执法公告,立场是切断伊朗关联精英及其协助者的金融通道。证据表述包括企业控制关系、平台整合、钱包资金处理、代币流转和人员任职,但公告没有披露完整链上地址、交易金额、调查方法或被指定方回应;其中若干洗钱与协助规避制裁的描述属于OFAC执法认定。

与相关标的的关系

文章未对应具体上市公司或主流数字资产代码。直接关联对象是数字资产交易平台、钱包服务、法币结算机构和跨境贸易企业:若业务涉及Zedcex、Zedxion、Zedpay、Zedx DMCC或其受控实体,将面临资产冻结、交易禁止及次级制裁暴露。对广义数字资产市场的价格影响缺少成交量和资金规模证据。

时效性与限制

公告发布于07/24(未给出具体时刻),截至美东时间07/27 08:42(UTC+8 07/27 20:42)被采集,制裁名单具有较高新鲜度。材料仅呈现美国财政部口径,未提供涉事企业答辩、法院审理结果或完整资金规模。

后续跟踪

  • OFAC正式名单、被识别财产及关联数字钱包地址的补充披露。
  • Zedcex、Zedxion及支持实体的服务中断、域名变化和链上资金迁移。
  • 受制裁主体持股50%及以上企业的进一步识别。
  • 土耳其、阿联酋及英国监管机构是否采取配套措施。
原文
Treasury Further Dismantles Iranian Financier Zanjani’s Network

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Press Releases

Treasury Further Dismantles Iranian Financier Zanjani’s Network

July 24, 2026

WASHINGTON —Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.

“The Iranian regime continues to pay a steep economic price for its reckless behavior, with the rial plunging to another record low and inflation up massively,” said Secretary of the Treasury Scott Bessent . “Under President Trump’s leadership, Treasury will continue cutting off economic access for corrupt Iranian regime elites, along with their financiers and facilitators.”

Today’s action targets Zanjani’s Iran-based operations under the “Dot One” conglomerate and a series of companies outside Iran that have supported his flagship OFAC-designated digital asset exchanges—Zedcex Exchange Limited (Zedcex) and Zedxion Exchange Limited (Zedxion)—as well as their respective managers and executives.

On January 30, 2026 , OFAC designated Zanjani and his two largest digital asset projects, Zedcex and Zedxion. After being sentenced to death in Iran in 2016 for embezzling millions from the OFAC-designated National Iranian Oil Company (NIOC), his sentence was commuted in 2024. By 2025, he had publicly re-emerged as a backer of regime-linked economic projects. Alongside high‑profile infrastructure and transportation ventures, Zanjani built a network of digital asset companies, including Zedcex and Zedxion, used in part to launder money for the OFAC-designated Islamic Revolutionary Guard Corps (IRGC). Through this combined infrastructure, Zanjani’s enterprises have served as both public‑facing commercial ventures and covert financial platforms enabling sanctions evasion and support to Iranian state‑linked entities.

The DOT ONE Conglomerate

Following his commutation, Zanjani re-entered the Iranian public eye through the establishment of his multiple Iran-based “Dot One” projects across a variety of diverse industries. Over the past two years, Zanjani has served as both public-facing chief executive and covert financial backer for these companies. Zanjani has frequently used his social media profiles to promote and celebrate Dot One ventures, including the April 2025 $800 million rail contract Dot One Rail Company secured with the Islamic Republic of Iran Railways. As both Iranian and international press have increasingly scrutinized Zanjani’s role within the Dot One conglomerate, the companies have obfuscated their ties with him.

Located in Dot One tower in Tehran, Dot One Value Creation Group ( Dot One Value ) is the primary holding company for the Dot One conglomerate. Dot One Value purports to be involved in services including logistics, telecommunications, aviation, transportation, and digital assets. Zanjani was appointed the CEO of this company as early as 2024 and retains control over Dot One Value.

DotOne Gold Company is Zanjani’s gold bar minter, producer, and custodian company. DotOne Gold Company is integral to the operations of Tala Token, an allegedly gold-backed digital asset token. Significant quantities of Tala Token passed through Zedcex infrastructure in early 2025. OFAC is designating DotOne Value and DotOne Gold Company pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zanjani.

The Dot One conglomerate’s railway construction, clearing house service, airline service, and ride-sharing service operations are handled by DotOne Rail Company , DotOne Barter Company , DotOne Airlines Company , and DotOne Trip , respectively. OFAC is designating DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company, and DotOne Trip pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Dot One Value.

Zedcex and Zedxion’s network of supporting entities

On January 30, 2026, OFAC designated Zanjani’s two UK-registered exchanges, Zedcex and Zedxion. Multiple Zedcex and Zedxion-attributed addresses have processed funds on behalf of wallets attributed to the IRGC. Zedcex and Zedxion have relied on companies based in Turkey and the United Arab Emirates for material, technological, and financial support. One of these companies has ties to Zanjani’s sister and his significant other.

Istanbul-based Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi ( Zedpay ) is a financial technology company that provides digital wallet and global transfer services. Zedpay was directly integrated into Zedxion’s platform, allowing users to utilize their Zedpay digital wallets while trading on Zedxion and providing Zedxion with fiat settlement and cross-border payment capabilities to which it would otherwise not have access. OFAC is designating Zedpay pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zedxion. Additionally, OFAC is designating Mehdi Rezazadeh , the chairperson of Zedpay, pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Zedpay.

Dubai-based Zedx DMCC ( Zedx ) is an entity that has acted on Zedcex’s behalf, including with regard to Zedcex’s exchange wallets. OFAC is designating Zedx pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zedcex. Additionally, OFAC is designating Sukhrob Oimakhmadov , the manager of Zedx, pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Zedx.

Dubai-based BZ Diamond FZCO ( BZ Diamond ) is a dealer of lab-grown and natural diamonds managed by Zanjani’s sister, Bahareh Morteza Zanjani . BZ Diamond has supported Zedxion digital asset projects by promoting Zedxion’s NFT marketplace, offering a BZ Diamond token on the Zedxion blockchain, and conducting multiple transactions with Zedxion and Zedcex wallets, including sending assets to Zedxion. OFAC is designating BZ Diamond pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Zedxion. Additionally, OFAC is designating Bahareh Morteza Zanjani pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, BZ Diamond.

Zanjani’s significant other, Solmaz Bani ( Bani ), has registered websites for Zanjani’s companies. OFAC is designating Bani pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Zanjani.

SANCTIONS IMPLICATIONs

As a result of today’s action, all property and interests in property of the blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.

Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to the Financial Crimes Enforcement Network’s whistleblower incentive program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000.

The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, please refer to OFAC’s FAQ 897 here and to submit a request for removal, click here .

Click here for more information on the persons designated and any property identified as blocked property today .

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长鑫上市放大A股科技成交

重要性4/5 中高

当日收盘数据完整,直接覆盖A股主要指数与科技板块;长鑫科技的纪录性数据影响显著,但单一报道缺少交易所原始链接,需交叉核验。

中文摘要

核心结论

07/27 A股主要指数普遍收涨,创业板指上涨3.16%,科技及制造相关板块领涨。长鑫科技上市首日成交额约1412亿元、收盘总市值约3.28万亿元,文章将其列为A股首只单日成交额超过千亿元且总市值最高的上市公司,显示资金关注高度集中于半导体与科技主题。

重要性评级

评级:4/5(中高)

报道发布时间接近当日收盘,指数点位、成交额、板块表现和长鑫科技上市数据密集,对A股科技风格观察具有直接价值。主要事实来自单篇收评,且机构段落混合预测与配置意见,仍需交易所及公司公告交叉核验异常突出的成交和市值数据。

关键事实

  • 报道发布于美东时间07/27 03:23(UTC+8 07/27 15:23)。上证指数收于3858.25点,上涨1.15%,成交额约1.0313万亿元。
  • 深证成指收于14148.73点,上涨2.72%,成交额约1.0453万亿元;创业板指收于3590.79点,上涨3.16%,成交额约4831亿元。
  • 科创综指上涨2.49%至1989.31点,成交额约4416亿元;北证50指数上涨2.35%至1055.92点。
  • 长鑫科技在科创板上市,主营DRAM(动态随机存取存储器)的研发、设计、生产和销售;上午成交额约1221亿元,全日约1412亿元。
  • 报道称长鑫科技创下A股个股单日成交额纪录,收盘总市值约3.28万亿元,居A股上市公司首位。
  • 脑机接口、复合铜箔、外骨骼机器人、PCB(印制电路板)、人工智能营销及医药研发外包等板块涨幅较大;石油开采相对弱势,保险股多数小幅下跌。
  • 国家统计局数据显示,上半年光纤制造、光缆制造和半导体器件专用设备制造行业利润分别增长410.4%、39.8%和18.7%。
  • 香港交易所宣布,中际旭创计划于07/30(未给出具体时刻)上市时同步推出相关期权和衍生权证,并将其股份纳入认可卖空指定证券名单。

作者观点与证据

收评以指数、成交额和行业利润数据支撑科技板块活跃的判断。中金公司认为产业催化仍是科技行情延续的重要条件;华泰证券把长鑫上市、美国与中国龙头公司财报、FOMC(美国联邦公开市场委员会)会议及政治局会议列为当周验证窗口;东吴证券判断A股风格正在切换,上游硬件内部可能继续分化。这些内容属于机构分析,未提供估值模型、资金流明细或预测检验结果。

与相关标的的关系

上证综指、深证成指和创业板指与正文行情直接对应,长鑫科技上市数据强化了半导体板块的成交与市值权重。中际旭创的港股上市及配套衍生产品安排,可能提高其跨市场交易可见度。元数据列出的KOSPI(韩国综合股价指数)和KOSDAQ(韩国科斯达克指数)在正文中没有行情或传导证据,不能据此建立直接关联。

时效性与限制

文章在当日A股收盘后发布,行情时效性较强。长鑫科技约1412亿元成交额和约3.28万亿元市值均属极端量级,原文未附上交所成交记录、发行股本计算或公司公告链接,需以交易所数据复核。

后续跟踪

  • 上交所披露的长鑫科技首日成交额、流通股本及总市值口径。
  • 半导体设备、印制电路板和光模块板块的成交集中度及后续业绩验证。
  • FOMC会议、政治局会议及中美科技龙头财报对市场预期的实际影响。
  • 中际旭创07/30港股上市后的成交、卖空资格和衍生产品流动性。
原文
收评:主要股指悉数上涨 脑机接口等多板块大涨 长鑫科技市值居A股之首

资讯

收评:主要股指悉数上涨 脑机接口等多板块大涨 长鑫科技市值居A股之首

新华财经

2026-07-27 15:23

新华财经北京7月27日电(罗浩)沪深两市主要股指27日开盘涨跌不一。各股指盘初短暂下探后震荡上扬,盘中在相对高位窄幅整理,午后涨幅有所收窄,午盘后段现持续上扬行情,收盘时沪指显著上涨,深成指、创业板指、 科创 综指均大幅上涨。

长鑫科技集团股份有限公司27日在上交所 科创 板上市,长鑫科技的主营业务为DRAM产品的研发、设计、生产及销售。长鑫科技上午成交额约1221亿元,全日成交额约1412亿元,成为A股首只单日成交额超千亿元的个股,并创下A股个股单日成交额纪录。与此同时,长鑫科技收盘时对应总市值约3.28万亿元,成为A股总市值最大的上市公司。

板块方面,脑机接口、日用化工、酒店餐饮、MLCC概念、复合铜箔、外骨骼 机器人 、PCB概念、AI营销、CRO概念等多个板块均有较大幅度上涨。当日,仅石油开采板块相对弱势,保险股多数小幅下跌。

截至收盘,上证指数报3858.25点,涨幅1.15%,成交额约10313亿元;深证成指报14148.73点,涨幅2.72%,成交额约10453亿元;创业板指报3590.79点,涨幅3.16%,成交额约4831亿元; 科创 综指报1989.31点,涨幅2.49%,成交额约4416亿元;北证50指数报1055.92点,涨幅2.35%,成交额约122亿元。

机构观点

中金公司 :科技作为典型的高胜率低赔率资产,只要产业趋势未变,市场消化高估值和高拥挤并非坏事,回调反而会增加赔率空间。美联储紧缩压力缓解或靴子落地也有助于改善市场环境。但最重要的还是产业催化,否则更多是企稳而难以开启更大一轮的新行情。在此之前,可以关注短期确定性和“瓶颈资产”,如美国缺电和中国缺芯的大方向。若担心硬件催化剂兑现太慢或幅度有限,可考虑阶段性的向基本面阻力较小的方向,如互联网、创新药等方向均衡,周期和泛外需等待美债利率回落。

华泰证券 :本周迎来长鑫上市、中美龙头财报、FOMC会议和政治局会议的验证窗口。操作上,建议控制仓位,等待“超级周”后选择方向。科技端关注国产链/半导体设备、PCB、光模块,兼顾创新药、资源品、出海链、证券等再均衡机会,红利继续持有。

东吴证券 :A股风格切换已经是“进行时态”,但并不意味着科技行情彻底结束,只是“全面押注科技”不再是最优解。从产业趋势角度,中长期来看需要增加对AI中下游环节的重视度;随资金面矛盾边际改善,上游硬件方向在下半年有望迎来分化修复机会,优选量增逻辑主导的方向,以及供给壁垒高且难找到替代技术路线的细分,“涨价线”中部分环节高估了远期供需矛盾,需要适当降低预期、去伪存真。

消息面上

新动能相关行业利润明显增长 上半年光纤制造行业利润增长410.4%

国家统计局7月27日发布数据显示,新动能高速发展带动相关行业利润明显增长。上半年,新动能相关产业快速发展,带动相关行业利润增长较快。其中,非金属材料相关行业中,再生橡胶制造、石墨及碳素制品制造行业利润增长133.3%、61.0%;金属材料相关行业中,铝冶炼、铜冶炼行业利润增长117.1%、53.9%;数据中心内部交互连接相关行业中,光纤制造、光缆制造行业利润增长410.4%、39.8%;设备制造相关行业中,增材制造装备制造、半导体器件专用设备制造行业利润增长55.4%、18.7%。

港交所:将于 中际旭创 上市日推出相关投资产品

香港交易所7月27日宣布,将于 中际旭创 (03308)在2026年7月30日上市时,推出“ 中际旭创 期权、 中际旭创 衍生权证上市、 中际旭创 股份纳入认可卖空指定证券名单”相关产品和措施,为投资者提供更多选择。

编辑:胡晨曦

声明:新华财经(中国金融信息网)为新华社承建的国家金融信息平台。任何情况下,本平台所发布的信息均不构成投资建议。如有问题,请联系客服:400-6123115

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美联储七月议程聚焦利率决议

重要性5/5 高

FOMC决议与记者会临近,覆盖美元、美国国债和美股,且时间来自美联储官方日历;材料只确认日程,政策结论仍待正式发布。

中文摘要

核心结论

美联储官方日历显示,FOMC(美国联邦公开市场委员会)将于07/28至07/29召开两日会议,并于美东时间07/29 14:00(UTC+8 07/30 02:00)公布会议结果,主席新闻发布会安排在美东时间07/29 14:30(UTC+8 07/30 02:30)。截至07/27,该议程是美元、美国国债和美股近期最直接的政策时间节点,但页面只提供日程,不包含决议结果或政策倾向。

重要性评级

评级:5/5(高)

会议距离采集时间仅一至两天,且官方页面明确给出决议与记者会时间,对美元、美国国债及美股均有直接时点意义。证据属于一手日程信息,内容无法回答利率路径、投票分歧或资产价格方向。

关键事实

  • FOMC两日会议定于07/28至07/29举行,会议结果计划在美东时间07/29 14:00(UTC+8 07/30 02:00)公布。
  • FOMC新闻发布会计划在美东时间07/29 14:30(UTC+8 07/30 02:30)开始。
  • 06/16至06/17会议的纪要已安排于美东时间07/08 14:00(UTC+8 07/09 02:00)发布;相对于07/27采集日,该事件已经过去。
  • 美联储褐皮书已安排于美东时间07/15 14:00(UTC+8 07/16 02:00)发布,同样属于已过日程。
  • 主席Kevin Warsh在07/14和07/15的国会听证日程均列为美东时间10:00(UTC+8 22:00),主题为半年度货币政策报告。
  • 7月统计发布包括工业生产与产能利用率、消费者信贷、货币供应量、商业银行资产负债及利率等系列,但该页面未提供任何数据值。
  • 页面显示的最近更新时间为2025年06/24,与所列2026年7月日程存在时间标记不一致。

作者观点与证据

该页面是美联储官方日历,没有作者评论、政策预测或市场判断。它能确认会议、讲话和统计发布的预定日期与时刻,无法证明委员会将采取何种利率行动,也不能反映委员投票、声明措辞或经济预测变化。

与相关标的的关系

美元和美国国债与FOMC决议、声明及记者会直接相关,美股也会读取利率路径和经济展望。英镑与英国国债被列入元数据,但正文没有英国央行事件、英国数据或英美利差信息,关联证据不足。

时效性与限制

页面于美东时间07/27 08:42(UTC+8 07/27 20:42)被采集,07/28至07/29会议仍属临近日程。页面底部的2025年更新时间可能是模板或维护字段,日程在临时调整、延期或直播链接变化时仍需以美联储最新公告为准。

后续跟踪

  • 07/29会议声明中的政策利率决定与投票分布。
  • 新闻发布会对通胀、就业、增长和后续会议路径的表述。
  • 会后美国国债收益率曲线、美元和美股的即时变化。
  • 官方日历、直播链接及发布时间是否临时调整。
原文
July 2026

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Speech - Vice Chair Philip N. Jefferson

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Navigating Economic Shocks

At In Conversation with Philip Jefferson, Stanford, California

16

1:00 p.m.

Speech - Governor Lisa D. Cook

The Economic Outlook

At the Exchequer Club Luncheon, Washington, D.C.

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Speech - Vice Chair for Supervision Michelle W. Bowman

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Responsible Innovation and Financial Inclusion

At the Federal Reserve Board Annual Financial Inclusion Conference, Washington, D.C. (via pre-recorded video)

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1:30 p.m.

Discussion - Governor Lisa D. Cook

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Consumers, Artificial Intelligence, and Financial Inclusion: Balancing Opportunities and Challenges

At the Federal Reserve Board Annual Financial Inclusion Conference, Washington, D.C.

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12:55 p.m.

Discussion - Governor Michael S. Barr

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Fireside Chat on Artificial Intelligence and Financial Inclusion

At the Federal Reserve Board Annual Financial Inclusion Conference, Washington, D.C.

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12:40 p.m.

Speech - Governor Michael S. Barr

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Artificial Intelligence

At the Federal Reserve Board Annual Financial Inclusion Conference, Washington, D.C.

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Speech - Governor Christopher J. Waller

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Economic Outlook

At New York Association for Business Economics (NYABE) hosts "A Conversation with Governor Waller," New York, New York

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5:25 a.m.

Speech - Vice Chair for Supervision Michelle W. Bowman

Modernizing Financial Regulation

At the Bank Policy Institute (BPI) Roundtable (virtual)

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7:00 a.m.

Speech - Vice Chair for Supervision Michelle W. Bowman

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Opening Remarks

At the Financial Stability Board Virtual Outreach Event

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11:00 a.m.

Discussion - Governor Christopher J. Waller

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At the Closing Conference of the European System of Central Banks Research Network on Challenges for Monetary Policy Transmission in a Changing World, Rome, Italy

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9:00 a.m.

Discussion - Chairman Kevin Warsh

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Policy Panel Discussion

At the European Central Bank (ECB) Forum on Central Banking 2026, Sintra, Portugal

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Testimony - Chairman Kevin Warsh

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Semiannual Monetary Policy Report to Congress

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Testimony - Chairman Kevin Warsh

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G.20 - Finance Companies

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美联储、英国央行及大型科技公司事件窗口

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金十周度预告列示:美联储FOMC将在北京时间7月30日公布利率决定并举行发布会;英国央行于7月30日19:00公布利率决定;Meta、微软、高通和Arm计划在7月29日美股盘后发布季度财报,SK海力士计划于周三发布季度业绩。

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沙特称拦截来自伊拉克方向、试图袭击石油设施的无人机

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沙特国防部称,一架来自伊拉克领土的无人机试图袭击沙特石油设施,沙方随后通报已将其拦截;另一则通报称袭击由伊朗支持的民兵组织实施。

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三星称HBM5基础芯片将采用2纳米GAA工艺

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三星电子半导体事业部技术开发负责人称,HBM5运行速度预计较HBM4E提高50%以上,基础芯片将采用2纳米GAA工艺,并提高TSV集成度。

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金十汇总称美伊连续两夜暂停互相打击

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金十过去24小时汇总称,美伊连续两夜暂停互相打击;同日稍晚,伊朗军方仍警告未来侵略行动将遭到更强烈反击。

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英伟达等成立开放安全AI联盟

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金十称英伟达联合Palantir、IBM、CrowdStrike、SpaceX和Hugging Face成立开放安全AI联盟,计划共享开放模型、数据和网络安全工具。

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消息人士称CPC黑海码头预计恢复原油装载

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金十援引三名业内消息人士称,里海管道联盟黑海码头预计周一晚些时候恢复原油装载;该码头此前因无人机袭击暂停一周,处理量约占全球供应量2%。

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欧洲央行管委卡兹米尔称至少仍需加息一次

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卡兹米尔表示,欧洲央行至少还需要再加息一次;除非未来数周出现非常有说服力的数据和地缘政治进展,否则将主张9月采取行动。

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恒指与恒生科技指数收涨

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恒指收涨0.98%,恒生科技指数涨1.57%,主板成交额2105亿港元。影视娱乐、旅游、消费电子、新消费和PCB板块走强;半导体、油气、光通信和煤炭板块走低。

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美国存储与半导体股盘前上涨

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SK海力士美股存托证券盘前涨6%,美光涨3.6%,闪迪涨5%,希捷涨3.9%,英伟达涨1%,英特尔涨3%,博通涨2%;同一时段石油股盘前走低,雪佛龙跌2.7%、埃克森美孚跌2.9%、康菲石油跌3.2%。

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上海黄金交易所黄金和白银T+D收盘

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黄金T+D收涨1.47%,报894.15元/克;白银T+D收涨3.31%,报14530元/千克。

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欧洲主要股指盘中上涨

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欧洲斯托克600指数涨0.85%,英国富时100涨0.5%,德国DAX涨1.35%,法国CAC40涨0.9%,西班牙IBEX35涨1%,意大利富时指数涨0.55%,荷兰AEX涨0.4%。能源板块落后;Rolls-Royce涨3.4%、IAG涨4%、BP跌3.8%、SAP涨3.1%、Thales涨3.1%、ASML涨0.8%。

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A股三大指数收涨且成交放量

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金十收评称三大指数集体上涨,沪深两市成交额2.08万亿元,较前一交易日增加1455亿元;近5200只股票上涨,超过100只涨停。电力、创新药和PCB板块活跃,油气板块走低。长鑫科技上市首日涨465.82%,换手率超过66%,成交额超过1400亿元。

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日经225与韩国KOSPI收涨

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日经225收报64931.19点,上涨320.04点或0.50%;韩国KOSPI收报6755.74点,上涨65.12点或0.97%。SK海力士涨3.5%,三星电子涨2%。

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韩国海关称部分非法外汇案件涉及加密货币结算

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韩国关税厅称,上半年查获792起、涉及7.2万亿韩元的非法外汇交易;部分案件涉及出口企业使用加密货币收取货款而未将出口所得外汇汇回韩国。