A | 来自美国总统唐纳德·特朗普的压力，要求全球领先的芯片制造商台积电在美国生产先进半导体，这导致他们成本上升，利润空间缩小。 特朗普在 2025 年重返政坛后，曾多次威胁要对不在美国生产产品的公司征收关税。 MANCHESTER, England -- Bobby Charlton, an English soccer icon who survived a plane crash that decimated a Manchester United team destined for greatness to become the heartbeat of his country's 1966 World Cup-winning team, has died. He was 86.A statement from Charlton's family, released by United, said he died Saturday surrounded by his family.An extravagantly gifted midfielder with a ferocious shot, Charlton was the leading scorer for both United (249 goals) and England (49 goals) for more than 40 years until being overtaken by Wayne Rooney.“Sir Bobby was a hero to millions, not just in Manchester, or the United Kingdom, but wherever football is played around the world,” United said.“He was admired as much for his sportsmanship and integrity as he was for his outstanding qualities as a footballer; Sir Bobby will always be remembered as a giant of the game.”Alex Ferguson, who managed United from 1986-2013, said before Charlton's death that he “is the greatest Manchester United player of all time — and that’s saying something.”“Bobby Charlton is absolutely without peer in the history of the English game,” Ferguson said.Charlton was also renowned for his humility, discipline and sportsmanship. He was never sent off in 758 appearances for United from 1956-73 or 106 internationals for England from 1958-70.Charlton played with George Best and Denis Law in the so-called “Trinity” that led United to the 1968 European Cup after surviving the 1958 Munich crash that wiped out the celebrated “Busby Babes” team. He won three English league titles at United, and one FA Cup.“For a footballer, he offered an unparalleled combination of grace, power and precision,” said former United defender Bill Foulkes, another survivor of the Munich air crash.“It added up to a greatness and something more — something I can only call beauty.”Charlton’s England scoring record stood for 45 years until Rooney scored his 50th goal for the national team in September 2015. Three of his England goals came in the World Cup in 1966, during which Charlton played every minute for the team and stood out especially in the semifinals when he scored twice against Portugal to lead England to a first major final.England beat West Germany 4-2 after extra time in the final.Although Ryan Giggs beat Charlton’s appearance record for United in 2008, his scoring record for the club lasted another nine years. It was only in 2017 — 44 years after Charlton last wore the famous red jersey of England’s most successful club — that Rooney scored his 250th goal for United.After retiring in 1973, Charlton went into coaching and founded a youth scheme that included David Beckham, a future United and England great, among its participants.After brief spells in charge of Preston, Wigan and Irish side Waterford, Charlton returned to United in 1984 as a director and persuaded the board in 1986 to appoint Ferguson, who delivered 38 trophies during nearly 27 years in charge.Knighted in 1994 by Queen Elizabeth II, Charlton remains a mainstay at Old Trafford, featuring alongside Best and Law on a statue outside United’s stadium.Charlton avoided the controversies and distractions that damaged the career of Best, with his style and demeanor bringing a popularity that transcended the tribalism of club and international football.“I felt he could be a bit aloof,” the late Best said in a 2001 magazine interview. “We were never at each other’s throats, we simply didn’t go and have a pint together.”Robert Charlton was born Oct. 11, 1937, in the coal-mining town of Ashington, northeast England, and his talent was obvious from a young age.“We realized Bobby was going to be a bit special as a player when he was about 5 years old,” said older brother Jack, who played for Leeds and won the World Cup alongside him. “He was always kicking a football or a tennis ball against a wall and when it bounced back it stuck to him like a magnet.”Charlton wrote in 2007 that his family sometimes relied on illegally caught salmon or rabbit to ward off hunger, while his father — also named Robert — gathered coal washed up on local beaches and sold it to bolster his income.His father’s commitment to his mining colleagues meant that in 1966 he missed Charlton scoring both goals against Portugal in that World Cup semifinal because he didn’t want someone else to have to cover for him in the pit. He was, however, persuaded to attend the final when the Charlton brothers lifted the trophy.Charlton’s playing career began far from home in Manchester after leaving school at 15, making his United debut three years later against Charlton in 1956.Within two years, tragedy struck the tight-knit group of United players whose relationship was forged as trainees in austere conditions. The team was still celebrating winning at Red Star Belgrade to secure a place in the European Cup semifinals when their plane caught fire on its third attempt to take off in heavy snow after a refueling stop in Germany.Charlton miraculously emerged from the smoldering wreckage with only light head injuries and picked his way through the wreckage to help survivors. Spotting manager Matt Busby groaning in agony on the smoke-shrouded runway, Charlton rushed to help the father-figure who had promoted him to the first team.But eight members of the “Busby Babes” team packed with bright prospects were among the 21 fatalities. They included Duncan Edwards, considered one of England’s most talented players at 21.“Sometimes it engulfs me with terrible anger and regret and sadness — and guilt that I walked away and found so much,” Charlton wrote in 2007.Charlton became driven by a lingering obligation to preserve the memories of the Munich dead, returning to action less than four weeks later and helping a hurriedly assembled team of survivors and stand-ins reach that season’s FA Cup final.Busby rebuilt his team around Charlton, adding the 1965 and 1967 English league titles to the championship they won in 1957.“There was always one great hope — the return to greatness of my beloved club,” Charlton said.The biggest prize of his club career arrived in 1968 as United became the first English club to become champion of Europe. Charlton scored twice in a 4-1 extra-time win over a Benfica team containing Portugal great Eusebio.But Charlton is perhaps best known for being part of the England team that won the World Cup. It remains England’s only major title in men's soccer.Charlton and his brother fell out over Jack’s public assertion that Bobby’s wife caused him to become estranged from his mother. But the pair reconciled and Jack presented Bobby with a lifetime achievement trophy at the 2008 BBC Sports Personality of the Year Award.“We have had our public disputes, proving that in any family discord can sometimes disrupt the force of love and blood, but throughout that time I never lost the sense of wonder and gratitude that we were together in 1966 on such a great day in the history of our nation’s sport,” Bobby Charlton said.In November 2020, it was announced that Charlton had been diagnosed with dementia, the same disease that afflicted his brother — who died in 2020 at age 85 — and another World Cup winner, Nobby Stiles. “This man, from day one, was everything I wanted to be,” United striker Marcus Rashford wrote of Charlton after hearing about the diagnosis. “Kind, professional, caring, talented.”He is survived by his wife, Norma, whom he married in 1961, and his two daughters.___AP soccer: https://apnews.com/hub/soccer。 此后，台积电已宣布对该国总计2000亿美元的投资承诺，其中包括上周公布的在美国投资1000亿美元用于建设先进半导体制造和封装设施。台积电表示，尽管人工智能热潮提振了公司业绩——过去 12 个月，台积电的市值增长超过 100%——但本季度强劲的盈利却受到海外扩张的影响。 台积电首席财务官黄文德在财报电话会议上表示，毛利率增长超出预期，但被海外晶圆厂带来的利润稀释所抵消。他还补充说，随着海外晶圆厂项目“逐步推进”，未来“几年”毛利率将进一步被稀释。 “特朗普总统的领导力正在推动企业投资美国制造业，”商务部长霍华德·卢特尼克在一份声明中表示。 “继我们与中国台湾达成历史性的贸易和投资协议后，台积电宣布追加1000亿美元的投资，这将创造数万个美国就业岗位，并将先进的半导体制造业带回美国。” 其他亚洲芯片制造商，包括SK海力士，也纷纷加入竞争。
B | 投资美国，台积电陷入两难 在众多企业中，台积电在美国的投资规模最大。其在美国的积极扩张使其面临更高的生产成本，这可能会对利润率构成潜在不利影响。 台积电周四公布，第二季度利润同比增长77.4%，远超预期，这家全球最大的芯片代工制造商又创下了一个季度的纪录。 台积电的黄告诉 CNBC，该公司在美国也正积极扩张，因为公司持续看到客户提出的“多年需求大趋势”。 政治压力是推动海外扩张的另一个关键因素。 白宫发言人告诉CNBC：“台积电和其他半导体公司数万亿美元的投资是特朗普总统贸易和经济政策的结果，从与中国台湾达成的历史性贸易协议到重新谈判的芯片法案投资。” 在美国建造房屋的成本要高得多。 晨星公司高级股票分析师李菲利（Phelix Lee）告诉CNBC：“总体而言，我们估计台积电在美国生产的芯片成本比中国台湾生产的芯片高出20%至50%，具体价格取决于补贴到位时间、税收抵免确认以及其他成本波动。
C | ” 李菲利补充说，他预计客户将承担更多更高的生产成本。 据《日经新闻》周二报道，台积电计划在2027年将先进芯片和成熟芯片的生产价格上调至多10%。台积电告诉CNBC，公司不对定价问题置评。
D | Gartner副总裁分析师Gaurav Gupta告诉CNBC：“台积电的优势在于缺乏实质性的竞争。” Gupta表示，由于台积电在尖端节点市场占据主导地位，“增加的成本很大一部分将不得不由其客户承担，这些客户要么正在寻求多元化发展，要么受到美国政府的强制要求购买本地芯片。” 黄先生表示，公司预计未来几年海外晶圆厂产能提升带来的毛利率稀释，初期将达到 2% 至 3%，后期将扩大至 3% 至 4%。 “台积电整体利润率很高，因此能够承受这样的利润率差异，”DA Davidson技术研究主管吉尔·卢里亚表示。
E | 台积电第二季度毛利率为67.7%，略高于第一季度的66.2%。
F | 晨星公司的李表示，尽管特朗普加倍呼吁发展本土制造业，“但在新冠疫情扰乱全球供应链之后，客户越来越倾向于寻求地域多元化”。 他补充道：“客户正在为地缘政治、物流和其他供应链中断做好准备。
G | 我们预计，即使在特朗普卸任后，对美国制造的需求压力仍将持续，尽管目前尚不清楚胡萝卜加大棒的策略将如何实施。” 晶圆厂成本过高，痛苦根源 据半导体文摘报道，领先的工程、建设和设计公司Exyte表示，在中国台湾建设一座晶圆厂大约需要19个月，而在美国建设一座晶圆厂则需要长达38个月的时间，原因是获得许可需要很长时间，而且晶圆厂的建设并非24小时不间断。 中国台湾的晶圆厂建设周期约为19个月，新加坡和马来西亚紧随其后，耗时23个月。欧洲项目需要34个月，而美国最慢，需要38个月。
H | 造成这种差异的关键原因在于中国台湾简化的审批流程和全天候的施工，而美国和欧洲则面临审批延误，且无法实现全天候施工。美国已颁布法律，豁免部分美国晶圆厂接受联邦环境评估，但这显然不足以使其与中国台湾的效率相媲美。 成本差异也很大。据Exyte公司称，尽管设备成本相近，但在美国建厂的成本大约是中国台湾的两倍。这种差异源于更高的劳动力成本、繁琐的监管要求以及供应链效率低下。此外，Exyte公司高管赫伯特·布拉希茨表示，中国台湾劳动力经验丰富，因此中国台湾的建筑商需要的详细图纸较少，因为他们熟悉流程的每个步骤，这加快了晶圆厂项目的完成速度。 为了与拥有完善供应链、经验丰富的劳动力和高效监管流程的中国台湾地区有效竞争，美国和欧洲必须简化审批流程、优化施工技术并采用数字孪生等先进规划工具。布拉希茨建议采用“虚拟调试”方法，即在实际施工开始前创建工厂的数字模型。
I | 这有助于及早发现潜在问题，从而降低成本和环境影响，同时提高速度和效率。 现代半导体生产设施规模庞大，无论从规模还是投资额来看都是如此。
J | 据介绍，一座领先的晶圆厂——例如英特尔、三星晶圆代工或台积电运营的晶圆厂——需要超过200亿美元的投资，其中仅厂房建设本身就需要40亿至60亿美元。 据报道，整个建设过程需要3000万至4000万工时，使用8.3万吨钢材、5600英里长的电线和78.5万立方码混凝土。一个典型的晶圆厂可能包括一个4万平方米的洁净室，配备2000台用于光刻、沉积、蚀刻、清洗和其他操作的生产设备。每台设备大约需要50个独立的公用设施和工艺连接。 正因这样，一个晶圆厂变得挑战重重。 台积电海外厂开始赚钱 虽然但是，据台媒报道，台积电包括美国厂在内的海外工厂，都纷纷挣钱了。
K | 根据今年第一季财报，台积电美国亚利桑那厂（TSMC Arizona）继2025年全年转亏为盈、认列获利161.41亿元后，2026年第一季获利动能续强，单季获利达188.08亿元，贡献已超越去年全年水准。日本熊本厂（JASM）也由亏转盈，第一季获利9.51亿元，台积电按持股比例认列投资收益6.91亿元，显示海外新厂随量产、稼动率提升，财务表现逐步改善。
L | 台积电近年推动全球制造布局，美国、日本、德国等海外投资案备受市场关注。其中，亚利桑那厂因建厂成本、人力成本与初期量产进度，一度被外界视为最具挑战性的海外基地。不过，2025年财报显示，TSMC Arizona已由2024年认列亏损142亿元，转为2025年获利161.41亿元，成为台积电海外设厂财务结构转变的重要讯号。 最新季度数据更凸显美国厂营运放大效益。
M | 2026年第一季，TSMC Arizona当期获利188.08亿元，认列投资收益达169.09 亿元。市场解读，亚利桑那第一座晶圆厂于2024年第四季量产4纳米制程后，产能利用率维持高档，已让美国厂由“高成本建厂期”逐步进入“营运贡献期”。 日本熊本厂同样出现转机。JASM 2025年全年仍认列亏损97.67亿元，主因初期量产、折旧及营运费用偏高；不过，2026年第一季已转为获利9.51亿元。熊本厂营运曲线明显改善，法人分析，主要与成熟制程亦进入紧俏有关。 亮眼的海外厂表现，坚定台积电海外扩张脚步持续推进。据悉，台积电正以过去约两倍速度扩张产能，2025年至2026年已加速至每年约九座新厂；全球各地预计新建与改造18座晶圆厂，其中包括五座先进封测厂，以同步提升先进制程与先进封装产能。
N | 法人分析，台积电海外厂获利转正，不能单纯解读为成本压力消失，而是量产进度、客户需求与折旧摊提节奏共同作用。随美国厂单季再赚百亿元、熊本厂转亏为盈，台积电全球制造版图正由“战略投资期”迈入“营运验证期”，海外产能将在AI、高效能运算及供应链在地化趋势下，成支撑中长期成长的重要平台。 但在六年投资增加22倍的背景下，台积电什么时候能重新挣钱，这值得等待。 （来源：CNBC） *免责声明：本文由作者原创。文章内容系作者个人观点，半导体行业观察转载仅为了传达一种不同的观点，不代表半导体行业观察对该观点赞同或支持，如果有任何异议，欢迎联系半导体行业观察。
Current article:http://kopb.sunmougadangwaizhuimi.bond/list_4tcix/i2o6e1p.html
Published on:11:06:02