[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"app-context":3,"blog-is-glencore-setting-up-for-a-second-half-comeback-ZH":222},{"languages":4,"categories":41,"products":125,"competitors":149},[5,9,13,17,21,25,29,33,37],{"name":6,"code":7,"id":8},"English","EN","TGFuZ3VhZ2U6ZW4=",{"name":10,"code":11,"id":12},"Español","ES","TGFuZ3VhZ2U6ZXM=",{"name":14,"code":15,"id":16},"Português","PT","TGFuZ3VhZ2U6cHQ=",{"name":18,"code":19,"id":20},"日本語","JA","TGFuZ3VhZ2U6amE=",{"name":22,"code":23,"id":24},"한국어","KO","TGFuZ3VhZ2U6a28=",{"name":26,"code":27,"id":28},"Deutsch","DE","TGFuZ3VhZ2U6ZGU=",{"name":30,"code":31,"id":32},"Italiano","IT","TGFuZ3VhZ2U6aXQ=",{"name":34,"code":35,"id":36},"Français","FR","TGFuZ3VhZ2U6ZnI=",{"name":38,"code":39,"id":40},"中文 (中国)","ZH","TGFuZ3VhZ2U6emg=",[42,73,104],{"icon":43,"slug":44,"title":45,"description":46,"featuredLinks":47},"mingcute:stock-line","stock-market-basics","Stock Market Basics","\u003Cp>Beginners' guides and practical tips for understanding stock market investing.\u003C\u002Fp>\n",[48,53,58,63,68],{"url":49,"title":50,"description":51,"ogImage":52},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-makes-stocks-go-up-and-down","What Makes Stocks Go Up and Down | TIKR.com","Understanding what makes stock prices go up and down can help investors better navigate investing. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-makes-stocks-go-up-and-down-banner\u002FWhat-makes-stocks-go-up-and-down-banner.jpg?_i=AA",{"url":54,"title":55,"description":56,"ogImage":57},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fdividend-yield-meaning-formula-example","Dividend Yield: Meaning, Formula, Example | Tikr.com Blog | TIKR.com","The dividend yield is a key metric for investors looking to gauge the income potential of their investments. It measures how much a company pays out in","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FDividend-yield\u002FDividend-yield.png?_i=AA",{"url":59,"title":60,"description":61,"ogImage":62},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fmarket-capitalization-definition-formula-and-why-it-matters","Market Capitalization: Definition, Formula, and Why It Matters | TIKR.com","Long-term investors often look at various valuation metrics when deciding whether to invest in a particular company. One helpful metric to evaluate is","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters\u002FMarket-Capitalization-Definition-Formula-and-Why-It-Matters.png?_i=AA",{"url":64,"title":65,"description":66,"ogImage":67},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fearnings-per-share-definition-formula-and-why-eps-matters","Earnings Per Share: Definition, Formula, and Why EPS Matters | TIKR.com","Earnings Per Share (EPS) represents the portion of a company's net earnings allocated to each share. Click to learn more!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEPS-Defiinition-formula-and-why-EPS-matters-1\u002FEPS-Defiinition-formula-and-why-EPS-matters-1.png?_i=AA",{"url":69,"title":70,"description":71,"ogImage":72},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-stock-price-target","What Is a Stock Price Target? | TIKR.com","A price target is a stock's estimated future price. It can help investors quickly find undervalued stocks. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-Stock-Price-Target-2\u002FWhat-is-a-Stock-Price-Target-2.png?_i=AA",{"icon":74,"slug":75,"title":76,"description":77,"featuredLinks":78},"material-symbols:analytics-outline","fundamental-analysis","Fundamental Analysis","\u003Cp>In-depth resources and financial metrics to help you evaluate companies like a pro.\u003C\u002Fp>\n",[79,84,89,94,99],{"url":80,"title":81,"description":82,"ogImage":83},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fshare-repurchase-why-do-companies-buy-back-their-stock","Share Repurchase: Why Do Companies Buy Back Their Stock? | TIKR.com","Share repurchases, or share buybacks, have gained popularity in the last two decades. According to a report from Goldman Sachs, stock buybacks initiated","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e\u002FTIKR-BLOG-COVER-PHOTOS-3_544a7f4e.png?_i=AA",{"url":85,"title":86,"description":87,"ogImage":88},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-invested-capital","What Is a Good Return on Invested Capital? | TIKR.com","Learning about Return on Invested Capital (ROIC) can help investors spot highly profitable stocks that can drive long-term returns. Learn more now!","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-Invested-capital\u002FWhat-is-a-good-return-on-Invested-capital.png?_i=AA",{"url":90,"title":91,"description":92,"ogImage":93},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-return-on-equity-ratio","What is a Good Return on Equity Ratio | Tikr.com Blog | TIKR.com","Return on Equity (ROE) is a financial ratio that reflects a company's profitability in relation to the equity invested by shareholders. It basically","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-return-on-equity-ratio-1\u002FWhat-is-a-good-return-on-equity-ratio-1.jpg?_i=AA",{"url":95,"title":96,"description":97,"ogImage":98},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-a-good-p-e-ratio","What Is a Good P\u002FE Ratio? | TIKR.com","Financial analysts and investors look at various metrics before deciding whether a stock is a buy. One of the metrics is the price-to-earnings ratio (P\u002FE","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-a-good-PE-ratio-1\u002FWhat-is-a-good-PE-ratio-1.jpg?_i=AA",{"url":100,"title":101,"description":102,"ogImage":103},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Ftop-6-metrics-for-investing-in-reits","Top 6 Metrics for Investing in REITs | TIKR.com","Real estate has been one of the greatest asset classes for wealth creation in history, and investing in Real Estate Investment Trusts (REITs) can allow","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FGroup-10\u002FGroup-10.png?_i=AA",{"icon":105,"slug":106,"title":107,"description":108,"featuredLinks":109},"hugeicons:investigation","investing-lingo","Investing Lingo","\u003Cp>A comprehensive glossary of investing terms and jargon so you can speak the language of the markets confidently.\u003C\u002Fp>\n",[110,115,120],{"url":111,"title":112,"description":113,"ogImage":114},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fenterprise-value-definition-and-calculation","Enterprise Value: Definition and Calculation | Tikr.com Blog | TIKR.com","Enterprise value (EV) is a financial metric that offers a comprehensive snapshot of a company's total value. Unlike market capitalization which solely","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEnterprise-Value-Definition-and-Calculation_37576e40\u002FEnterprise-Value-Definition-and-Calculation_37576e40.png?_i=AA",{"url":116,"title":117,"description":118,"ogImage":119},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Febitda-definition-formula-how-to-use-it","EBITDA: Definition, Formula, How to Use It | TIKR.com","EBITDA stands for earnings before interest, taxes, depreciation and amortization. It's a financial metric commonly used to evaluate a company's financial","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FEBITDA-Definition-Formula-How-to-Use-It\u002FEBITDA-Definition-Formula-How-to-Use-It.png?_i=AA",{"url":121,"title":122,"description":123,"ogImage":124},"https:\u002F\u002Fwww.tikr.com\u002Fblog\u002Fwhat-is-the-free-cash-flow-formula-and-why-does-it-matter","What is the Free Cash Flow Formula and Why Does It Matter | TIKR.com","Free cash flow, or FCF, is the cash a company generates after it accounts for outflows required to maintain business operations and support capital","https:\u002F\u002Fwww.tikr.com\u002Fimages\u002FWhat-is-the-free-cash-flow-formula\u002FWhat-is-the-free-cash-flow-formula.png?_i=AA",[126,130,134,137,141,145],{"slug":127,"modified":128,"title":129},"valuation-model-builder","2025-07-03T00:18:53","Value Stocks Quickly and Accurately",{"slug":131,"modified":132,"title":133},"stock-portfolio-tracking","2024-12-02T22:21:28","Monitor Your Portfolio",{"slug":75,"modified":135,"title":136},"2025-01-21T22:10:52","Instantly Analyze Companies with In-Depth Metrics",{"slug":138,"modified":139,"title":140},"stock-screener","2024-12-02T22:13:31","Find the Best Stocks to Buy",{"slug":142,"modified":143,"title":144},"investor-stock-portfolio","2025-01-21T22:02:56","Follow Investment Moves of Top Investors",{"slug":146,"modified":147,"title":148},"analyze-stocks","2025-07-23T16:04:24","Analyze Stocks",[150,154,158,162,166,170,174,178,182,186,190,194,198,202,206,210,214,218],{"slug":151,"title":152,"modified":153},"bloomberg","Bloomberg","2025-01-16T14:23:44",{"slug":155,"title":156,"modified":157},"morningstar","Morningstar","2025-01-16T14:25:16",{"slug":159,"title":160,"modified":161},"sentieo","Sentieo","2025-01-16T17:58:27",{"slug":163,"title":164,"modified":165},"googlefinance","Google Finance","2025-01-17T19:39:37",{"slug":167,"title":168,"modified":169},"tradingview","TradingView","2025-01-16T18:17:01",{"slug":171,"title":172,"modified":173},"factset","Factset","2025-01-16T18:20:16",{"slug":175,"title":176,"modified":177},"finviz","Finviz","2025-01-16T18:23:40",{"slug":179,"title":180,"modified":181},"ycharts","YCharts","2025-01-16T18:32:19",{"slug":183,"title":184,"modified":185},"marketbeat","MarketBeat","2025-03-11T00:27:23",{"slug":187,"title":188,"modified":189},"benzinga","Benzinga","2025-03-11T00:31:00",{"slug":191,"title":192,"modified":193},"gurufocus","Gurufocus","2025-03-11T00:31:12",{"slug":195,"title":196,"modified":197},"fast-graphs","FAST Graphs","2025-03-11T00:31:19",{"slug":199,"title":200,"modified":201},"tipranks","TipRanks","2025-03-11T00:31:26",{"slug":203,"title":204,"modified":205},"seeking-alpha","Seeking Alpha","2025-03-11T00:31:45",{"slug":207,"title":208,"modified":209},"thestreet","TheStreet","2025-03-11T00:31:52",{"slug":211,"title":212,"modified":213},"investing-com","Investing.com","2025-03-11T00:32:00",{"slug":215,"title":216,"modified":217},"zacks","Zacks","2025-03-26T15:40:40",{"slug":219,"title":220,"modified":221},"alphasense","AlphaSense","2025-03-11T00:32:15",{"post":223,"seo":259,"relatedPosts":265,"suggestedPosts":342},{"id":224,"title":225,"date":226,"modified":227,"excerpt":228,"content":229,"wordCount":230,"lang":231,"uri":232,"slug":233,"cloudinaryAssetId":234,"featuredImageOriginalUrl":235,"featuredImageMetadata":236,"author":239,"editor":245,"categories":250,"relatedPosts":256,"seo":257},82416,"嘉能可是否准备在下半年卷土重来？","2025-10-24T14:24:00","2025-10-23T20:26:40","\u003Cp>2025 年上半年，Glencore 重启而非撤退，煤炭和锌抵消了铜的疲软，成本削减初见成效。下半年将是真正的考验，因为更高的品位、更强的营销收益和新的效率将开始在数据中显现。\u003C\u002Fp>\n","\n\u003Cp>在经历了 2024 年铜和能源市场的颠簸之后，Glencore\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fstock\u002Fabout?cid=704674&tid=131224961&ref=2i3vra\">（GLEN\u003C\u002Fa>）以重建模式拉开了 2025 年的序幕，重点关注运营纪律。上半年的业绩并不突出，但很稳定。集团铜当量产量增长了 5%，因为锌、煤炭和钴产量的增加帮助抵消了铜品位的下降。埃尔克谷资源公司（EVR）的整合也为业务带来了提升，在价格开始企稳之际，扩大了 Glencore 在炼钢煤炭领域的风险敞口。\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>\u003Cem>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog-aicompoundersreport\" target=\"_blank\" rel=\"noreferrer noopener\">解锁我们的免费报告：分析师认为价值被低估的5家人工智能复合企业，随着人工智能的加速应用，它们将在数年内实现超额收益（注册TIKR，免费） >>>\u003C\u002Fa>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Cp>运营方面喜忧参半。由于矿山排序和矿石品位降低，铜产量下降了26%，而锌和钴的产量都有两位数的增长。由于南非的几家冶炼厂仍处于停产状态，铬铁成为最大的拖累因素，但能源煤保持坚挺，营销再次带来了可靠的利润。管理层预计，随着铜品位的提高，EVR 将在下半年带来更强劲的现金流。\u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"2259\" height=\"2560\" data-public-id=\"images\u002FGlencore-valuation\u002FGlencore-valuation.webp\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_2259,h_2560,c_scale\u002Ff_webp,q_auto\u002Fv1761232723\u002Fimages\u002FGlencore-valuation\u002FGlencore-valuation.webp?_i=AA\" alt=\"Glencore valuation\" class=\"wp-post-82416 wp-image-83707\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1761232723\" data-seo=\"1\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">Glencore 的估值模型显示，该公司未来的目标价很高。(\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">TIKR）\u003C\u002Fa>\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp>在财务方面，Glencore 处于稳健状态。流动资金超过 100 亿美元，资产负债率保持在较低水平，公司的目标是到 2026 年节约成本 10 亿美元。今年迄今为止，该公司股价一直在区间内波动，但随着利润率更高的资产陆续上线，以及工业布局更加集中，Glencore 在 2026 年之前的定位比一年前要好。\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">\u003Cem>\u003Cstrong>使用 TIKR 功能强大的新估值模型快速评估任何股票的价值（免费！） >>>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fa>\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-financial-story\">财经故事\u003C\u002Fh2>\n\n\n\n\u003Cfigure class=\"wp-block-table\">\u003Ctable class=\"has-fixed-layout\">\u003Cthead>\u003Ctr>\u003Cth>\u003Cstrong>项目\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>H1'25\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>H1'24\u003C\u002Fstrong>\u003C\u002Fth>\u003Cth>\u003Cstrong>同比\u003C\u002Fstrong>\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>铜当量产量\u003C\u002Ftd>\u003Ctd>\u003Cstrong>1,485 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>1,409 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>+5%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>自产铜\u003C\u002Ftd>\u003Ctd>\u003Cstrong>344 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>463 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-26%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>自产钴\u003C\u002Ftd>\u003Ctd>\u003Cstrong>18.9 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>15.9 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>+19%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>自产锌\u003C\u002Ftd>\u003Ctd>\u003Cstrong>465 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>417 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>+12%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>自产镍\u003C\u002Ftd>\u003Ctd>\u003Cstrong>36.6 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>44.2 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-17%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>应占铬铁\u003C\u002Ftd>\u003Ctd>\u003Cstrong>433 千吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>599 千吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>-28%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>炼钢煤\u003C\u002Ftd>\u003Ctd>\u003Cstrong>15.7 公吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>3.4 公吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>+362%\u003C\u002Fstrong>(EVR)\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>能源煤\u003C\u002Ftd>\u003Ctd>\u003Cstrong>48.3 公吨\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>47.2 公吨\u003C\u002Ftd>\u003Ctd>\u003Cstrong>+2%\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>铜单位现金成本\u003C\u002Ftd>\u003Ctd>\u003Cstrong>~225 c\u002Flb\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>~171 c\u002Flb\u003C\u002Ftd>\u003Ctd>较高（下半年组合）\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>实际价格（平均值）**\u003C\u002Ftd>\u003Ctd>铜\u003Cstrong>410 美分\u002F磅\u003C\u002Fstrong>，锌\u003Cstrong>125 美分\u002F磅\u003C\u002Fstrong>，镍\u003Cstrong>697 美分\u002F磅\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>营销调整后息税前盈利（框架）\u003C\u002Ftd>\u003Ctd>\u003Cstrong>每年 23-35 亿美元\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>22-32 亿美元\u003C\u002Ftd>\u003Ctd>\u003Cstrong>提高\u003C\u002Fstrong>\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>估计上半年营销调整后息税前盈利（EBIT\u003C\u002Ftd>\u003Ctd>\u003Cstrong>~13.5 亿美元\u003C\u002Fstrong>\u003C\u002Ftd>\u003Ctd>—\u003C\u002Ftd>\u003Ctd>-\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003C\u002Ffigure>\n\n\n\n\u003Cp>Glencore 2025 年上半年与其说是反弹，不如说是重启，这一时期的重点是稳定运营，为下半年的更强势做好准备。由于锌和煤炭产量增加，加上埃尔克谷资源公司（Elk Valley Resources）的首次全面贡献，铜当量产量同比攀升 5%。铜是薄弱环节，由于品位和排序降低，铜产量下降了 26%，但管理层预计，随着品位更高的矿石投产，这一趋势将在下半年扭转。\u003C\u002Fp>\n\n\n\n\u003Cp>锌、钴和煤炭都有助于抵消铜的疲软，而铬铁则因南非几家冶炼厂停产而继续承压。成本方面喜忧参半：年初铜产量下降导致成本上升，但其他方面的整体效率有所提高。市场营销继续发挥稳定作用，产生了约 13.5 亿美元的调整后息税前盈利（EBIT），并使该集团全年有望实现 23 亿至 35 亿美元的目标。\u003C\u002Fp>\n\n\n\n\u003Cp>Glencore 的流动资金超过 100 亿美元，净债务也是行业内最低的，公司正利用这一过渡期简化并加强其产业组合。目前正在实施一项 10 亿美元的成本削减计划，管理层的目标是到 2026 年实现更精简、更平衡的业务，减少对铜波动的依赖，更好地从能源和贸易中获取价值。\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>\u003Cem>\u003Cstrong>\u003Cem>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">查看 Glencore 完整的财务业绩和预期（免费） >>> 1.\u003C\u002Fa>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-1-marketing-strength-holds-the-line\">\u003Cstrong>\u003Cstrong>\u003Cstrong>1. \u003C\u002Fstrong>\u003C\u002Fstrong>\u003C\u002Fstrong>营销实力稳住阵脚\u003C\u002Fh2>\n\n\n\n\u003Cp>Glencore的营销部门再次完成了重任，上半年实现了约13.5亿美元的调整后息税前利润，并使公司全年目标保持在23-35亿美元之间。能源和金属市场的波动，尤其是煤炭、镍和铜市场的波动，为交易收益创造了机会，而锌和氧化铝的强劲实物需求则增加了利润空间。该部门仍然是采矿业最稳定的盈利引擎之一，不断抵消产量的周期性波动。\u003C\u002Fp>\n\n\n\n\u003Cp>营销的重要性怎么强调都不为过，它是 Glencore 的平衡术。当铜产量下降或成本上升时，该部门有助于保持自由现金流和投资者信心。它还提供了流动性缓冲，使公司能够灵活管理股息、债务和回购，而不必过度依赖商品现货价格。管理层重申，营销部门的年化息税前盈利（EBIT）范围在正常化基础上应保持在 22 亿美元至 32 亿美元之间，强调其在不确定市场中作为 Glencore 盈利支柱的作用。\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-2-energy-and-metals-portfolio-rebalanced\">2.重新平衡能源与金属资产组合\u003C\u002Fh2>\n\n\n\n\u003Cp>在经历了数年对铜波动的过度风险敞口之后，Glencore 的资产组合正悄然向更加平衡的方向转变。收购 Elk Valley Resources 改变了集团的能源组合，使炼钢煤成为更强劲的盈利驱动力，尤其是随着印度和东南亚全球需求的增长。同时，锌、镍和钴继续发挥稳定作用，即使在铜产量滞后的情况下，也有助于产生更可预测的现金。\u003C\u002Fp>\n\n\n\n\u003Cp>在运营方面，管理层注重质量而非数量。秘鲁、澳大利亚和刚果（金）的项目正在进行优化，以提高品位，降低成本强度，同时对几个较小的矿山进行合理化改造，以简化物流，提高利润率。 \u003C\u002Fp>\n\n\n\n\u003Cp>目标很明确：建立一个更精简的工业基地，与 Glencore 的贸易专长相辅相成。与英美资源集团（Anglo American）或力拓集团（Rio Tinto）等更依赖于纯粹的产量增长的传统矿业公司相比，这种高品位生产与高利润率营销的融合仍是其与众不同之处。\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>\u003Cem>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">\u003C\u002Fa>\u003Cstrong>\u003Cem>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">用 TIKR 在 60 秒内评估 Glencore 等股票的价值（免费） >>> 3.\u003C\u002Fa>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-3-capital-discipline-and-outlook-for-2026\">\u003Cstrong>\u003Cstrong>3.\u003C\u002Fstrong>\u003C\u002Fstrong> \u003Cstrong>资本纪律和 2026 年展望\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>嘉能可的资产负债表表现平静而强劲。净债务接近 Glencore 目标范围的底部，流动资金超过 100 亿美元，公司有能力为扩张和股东回报提供资金。公司正在实施一项 10 亿美元的成本节约计划，以抵消通胀压力，提高铜和能源资产的单位经济效益。管理层还暗示，如果市场条件在 2026 年初之前保持稳定，在自由现金流产生和有限的近期资本支出的支持下，公司将进行更多的股票回购。\u003C\u002Fp>\n\n\n\n\u003Cp>展望未来，重点转向执行。较高的铜品位和扩大的 EVR 产量可能会推动下半年盈利反弹，但这在很大程度上取决于商品定价和主要市场的地缘政治稳定。 \u003C\u002Fp>\n\n\n\n\u003Cfigure class=\"wp-block-image size-full\">\u003Cimg width=\"1770\" height=\"1214\" data-public-id=\"images\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp\" loading=\"lazy\" decoding=\"async\" src=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1770,h_1214,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA\" alt=\"Glencore YTD\" class=\"wp-post-82416 wp-image-83717\" data-format=\"webp\" data-transformations=\"f_webp,q_auto\" data-version=\"1761238716\" data-seo=\"1\" srcset=\"https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 1770w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_300,h_206,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 300w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1024,h_702,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 1024w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_768,h_527,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 768w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1536,h_1054,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 1536w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1200,h_823,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 1200w, https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_1400,h_960,c_scale\u002Ff_webp,q_auto\u002Fv1761238716\u002Fimages\u002FGlencore-YTD-1_8371729e5b\u002FGlencore-YTD-1_8371729e5b.webp?_i=AA 1400w\" sizes=\"auto, (max-width: 1770px) 100vw, 1770px\" \u002F>\u003Cfigcaption class=\"wp-element-caption\">从 Glencore 的年度表现来看，投资者对其印象并不深刻。(\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">TIKR）\u003C\u002Fa>\u003C\u002Ffigcaption>\u003C\u002Ffigure>\n\n\n\n\u003Cp>分析师们仍然意见不一，一些人认为，鉴于嘉能可强劲的现金流和交易选择性，其价值被低估，而另一些人则对铜的短期复苏持谨慎态度。无论如何，2026 年的走势看起来比往年更加平衡，嘉能可将进入一个波动性较小，业绩可控性较强的阶段。\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-the-tikr-takeaway\">TIKR 的启示\u003C\u002Fh2>\n\n\n\n\u003Cp>以目前的水平来看，对于寻求多元化铜和炼钢煤投资的投资者来说，嘉能可是一个务实的持股对象，其营销业务为投资者提供了内在对冲。该公司已为下半年更好的业绩做好了准备，铜品位、成本效率和 EVR 贡献都有支持作用，同时保持严格的资本纪律和强劲的流动性。\u003C\u002Fp>\n\n\n\n\u003Cp>执行风险仍是关键变量。刚果（金）政策的不确定性、铬铁市场的疲软以及中国需求的不均衡都会对近期业绩造成压力。但是，Glencore 的简化结构、大宗商品不断增加的现金流以及持续的营销盈利为其 2026 年的发展奠定了坚实的基础。\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-should-you-buy-sell-or-hold-glencore-stock-in-2025\">2025 年，您应该买入、卖出还是持有嘉能可股票？\u003C\u002Fh2>\n\n\n\n\u003Cp>近期的风险\u002F回报是平衡的，上行取决于铜的执行和大宗商品价格的支撑，而下行则源于政策和运营风险。如果2025年下半年的交货能按计划进行，且成本目标能维持，我们会在弱势时增持。\u003C\u002Fp>\n\n\n\n\u003Cp>升级触发因素：铜品位持续回升，EVR 现金流强劲，10 亿美元成本节约计划切实兑现。关注事项：刚果（金）钴出口长期中断、铬铁重启放缓以及潜在的外汇波动（南非兰特、澳元、欧元、加元）。\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\" id=\"h-ai-compounders-with-massive-upside-that-wall-street-is-overlooking\">华尔街忽视的具有巨大上升空间的人工智能复合企业\u003C\u002Fh2>\n\n\n\n\u003Cp>人人都想从人工智能中套现。\u003Cspan style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">但是，当人们追逐英伟达（NVIDIA）、AMD 或台湾半导体（Taiwan Semiconductor）等从人工智能中获益的知名企业时，真正的机会可能在\u003Cem>人工智能应用层\u003C\u002Fem>，那里有少数几家复合企业正在悄悄地将人工智能嵌入人们日常使用的产品中。\u003C\u002Fspan>\u003C\u002Fp>\n\n\n\n\u003Cp>TIKR 刚刚发布了一份新的免费报告，介绍了 5 家价值被低估的化合物公司，分析师认为，随着人工智能应用的加速，这些公司可能会在数年内实现超额收益。\u003C\u002Fp>\n\n\n\n\u003Cp>在这份报告中，您将发现\u003C\u002Fp>\n\n\n\n\u003Cul class=\"wp-block-list\">\n\u003Cli>\u003Cstrong>已将人工智能转化为收入和盈利增长的企业\u003C\u002Fstrong>\u003C\u002Fli>\n\n\n\n\u003Cli>\u003Cstrong>尽管分析师预测强劲，但交易价格低于公允价值的股票\u003C\u002Fstrong>\u003C\u002Fli>\n\n\n\n\u003Cli>\u003Cstrong>大多数投资者尚未考虑过的独特选择\u003C\u002Fstrong>\u003C\u002Fli>\n\u003C\u002Ful>\n\n\n\n\u003Cp>如果您想抓住下一波人工智能赢家，本报告是您的必读之选。\u003C\u002Fp>\n\n\n\n\u003Cp>\u003Cstrong>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog-screenreport\">\u003Cem>\u003Cstrong>\u003Cem>\u003Cstrong>\u003Cem>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fa>\u003Cem>\u003Cstrong>\u003Cem>\u003Cstrong>\u003Cem>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog-aicompoundersreport\" target=\"_blank\" rel=\"noreferrer noopener\">单击此处注册 TIKR，立即免费获取 TIKR 的 5 AI 复合型企业报告。\u003C\u002Fa>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fem>\u003C\u002Fstrong>\u003C\u002Fp>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>寻找新机遇？\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cul class=\"wp-block-list\">\n\u003Cli>查看哪些\u003Cstrong> 股票 \u003C\u002Fstrong>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">\u003Cstrong>亿万富翁投资者正在购买的股票\u003C\u002Fstrong>\u003C\u002Fa>\u003Cstrong> 这样 \u003C\u002Fstrong>您就可以跟随聪明的资金。\u003C\u002Fli>\n\n\n\n\u003Cli>\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">\u003Cstrong>分析股票只需 5 分钟\u003C\u002Fstrong>\u003C\u002Fa>使用 TIKR 的一体化易用平台。\u003C\u002Fli>\n\n\n\n\u003Cli>推倒的石头越多......您发现的机会就越多。\u003Ca href=\"https:\u002F\u002Fapp.tikr.com\u002Fregister?ref=tikrblog\">\u003Cstrong>使用 TIKR 搜索 100K+ 全球股票、全球顶级投资者持有的股票等。\u003C\u002Fstrong>\u003C\u002Fa>\u003C\u002Fli>\n\u003C\u002Ful>\n\n\n\n\u003Ch2 class=\"wp-block-heading\">\u003Cstrong>免责声明：\u003C\u002Fstrong>\u003C\u002Fh2>\n\n\n\n\u003Cp>\u003Cem>\u003Cem>请注意，TIKR 上的文章无意作为 TIKR 或我们内容团队的投资或财务建议，也不是买卖任何股票的建议。我们的内容基于 TIKR 终端的投资数据和分析师的估计。我们的分析可能不包括最近的公司新闻或重要更新。TIKR 不持有所提及的任何股票。感谢您的阅读，祝您投资愉快！\u003C\u002Fem>\u003C\u002Fem>\u003C\u002Fp>\n\n\n\n\u003Cp>\u003C\u002Fp>\n",1573,"zh","\u002Fblog\u002Fis-glencore-setting-up-for-a-second-half-comeback","is-glencore-setting-up-for-a-second-half-comeback","images\u002FGlencore-Featured\u002FGlencore-Featured","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761244089\u002Fimages\u002FGlencore-Featured\u002FGlencore-Featured.png?_i=AA",{"altText":237,"imageCredit":238},"Is Glencore Setting Up for a Second-Half Comeback?","Alfio Manciagli via Canva",{"name":240,"slug":241,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":244},"David Beren","davidberentikr","author","",[],{"name":246,"slug":247,"role":248,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":249},"Thomas Richmond","thomastikr","editor",[],[251],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},"股票评论","reviews","\u002Fblog\u002Fcategory\u002Freviews",0,[],{"title":237,"metaDesc":258,"opengraphDescription":258,"twitterTitle":237,"twitterDescription":258},"Glencore’s first half of 2025 marked a reset, not a retreat, with coal and zinc offsetting copper weakness and cost cuts starting to take hold. The second half will be the real test, as higher grades, stronger Marketing earnings, and new efficiencies begin to show up in the numbers.",{"title":237,"description":258,"twitterTitle":237,"twitterDescription":258,"author":240,"articlePublisher":260,"articlePublishedTime":226,"articleModifiedTime":227,"twitterLabel1":261,"twitterData1":262,"ogTitle":237,"ogDescription":258,"ogUrl":232,"ogImage":235,"ogImageWidth":263,"ogImageHeight":264,"ogImageSecureUrl":235,"ogImageAlt":237,"twitterImage":235},"TIKR.com","预计阅读时间","2 minutes",1200,630,[266,283,297,312,327],{"id":255,"title":267,"date":268,"excerpt":269,"wordCount":270,"uri":271,"slug":272,"cloudinaryAssetId":273,"featuredImageOriginalUrl":274,"featuredImageMetadata":275,"author":276,"categories":280,"relatedPosts":282},"派克-汉尼汾股票预测：分析师眼中的 2028 年股票走向","2025-10-24 14:05:00","以下是分析师认为派克-汉尼汾公司（Parker-Hannifin，NYSE: PH）股票未来三年在稳定盈利和强劲现金流的支持下可能保持在公允价值附近的原因。",865,"\u002Fblog\u002Fparker-hannifin-stock-prediction-where-analysts-see-the-stock-going-by-2028","parker-hannifin-stock-prediction-where-analysts-see-the-stock-going-by-2028","images\u002FParker-Hannifin-stock\u002FParker-Hannifin-stock","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761272106\u002Fimages\u002FParker-Hannifin-stock\u002FParker-Hannifin-stock.png?_i=AA",{"altText":267},{"name":277,"slug":278,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":279},"Nikko Henson","nikkotikr",[],[281],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":284,"date":285,"excerpt":286,"wordCount":287,"uri":288,"slug":289,"cloudinaryAssetId":-1,"featuredImageOriginalUrl":290,"featuredImageMetadata":291,"author":292,"categories":294,"relatedPosts":296},"通用动力股票预测：分析师眼中的 2027 年该股走向","2025-10-24 13:35:00","在稳定的国防需求和持续现金流的推动下，分析师认为通用动力公司（NYSE: GD）的股票到 2027 年可能会有约 8%的上涨空间。",841,"\u002Fblog\u002Fgeneral-dynamics-stock-prediction-where-analysts-see-the-stock-going-by-2027","general-dynamics-stock-prediction-where-analysts-see-the-stock-going-by-2027","https:\u002F\u002Ftikr1.wpengine.com\u002Fwp-content\u002Fuploads\u002F2025\u002F10\u002FGeneral-Dynamics-stock-600x400.png",{"altText":284},{"name":277,"slug":278,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":293},[],[295],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":298,"date":299,"excerpt":300,"wordCount":301,"uri":302,"slug":303,"cloudinaryAssetId":304,"featuredImageOriginalUrl":305,"featuredImageMetadata":306,"author":307,"categories":309,"relatedPosts":311},"诺斯罗普-格鲁曼公司股票预测：分析师眼中的 2027 年股票走向","2025-10-24 13:05:00","以下是分析师认为诺斯罗普-格鲁曼公司（Northrop Grumman）（纽约证券交易所股票代码：NOC）的股票到 2027 年会有约 6% 的上涨空间的原因，稳定的国防需求和稳健的现金流是其驱动力。",892,"\u002Fblog\u002Fnorthrop-grumman-stock-prediction-where-analysts-see-the-stock-going-by-2027","northrop-grumman-stock-prediction-where-analysts-see-the-stock-going-by-2027","images\u002FNorthrop-Grumman-stock_8374530c35\u002FNorthrop-Grumman-stock_8374530c35","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761267396\u002Fimages\u002FNorthrop-Grumman-stock_8374530c35\u002FNorthrop-Grumman-stock_8374530c35.png?_i=AA",{"altText":298},{"name":277,"slug":278,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":308},[],[310],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],{"id":255,"title":313,"date":314,"excerpt":315,"wordCount":316,"uri":317,"slug":318,"cloudinaryAssetId":319,"featuredImageOriginalUrl":320,"featuredImageMetadata":321,"author":322,"categories":324,"relatedPosts":326},"RTX 股票预测：分析师眼中的 RTX 2027 年走势","2025-10-24 12:35:00","以下是分析师认为 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的上升空间的原因。",872,"\u002Fblog\u002Flockheed-martin-stock-prediction-where-analysts-see-the-stock-going-by-2027","lockheed-martin-stock-prediction-where-analysts-see-the-stock-going-by-2027","images\u002FLockheed-Martin-stock_8374092698\u002FLockheed-Martin-stock_8374092698","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761261180\u002Fimages\u002FLockheed-Martin-stock_8374092698\u002FLockheed-Martin-stock_8374092698.png?_i=AA",{"altText":328},{"name":277,"slug":278,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":338},[],[340],{"name":252,"slug":253,"uri":254,"description":243,"postsCount":255},[],[343,363,378,393,409,424,442,457,472,487,502,520,535,550,565],{"id":255,"title":344,"date":345,"excerpt":346,"wordCount":347,"uri":348,"slug":349,"cloudinaryAssetId":350,"featuredImageOriginalUrl":351,"featuredImageMetadata":352,"author":353,"categories":357,"relatedPosts":362},"安联股价预测：2025 年 10 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年第四季度销售额将创历史新高，该公司股票在早盘交易中上涨。 ",1089,"\u002Fblog\u002Fsouthwest-luv-stock-gains-1-as-airline-beats-q3-estimates","southwest-luv-stock-gains-1-as-airline-beats-q3-estimates","images\u002FNEW-FEATURED-IMAGE-MAKER-18-10_8368417a1d\u002FNEW-FEATURED-IMAGE-MAKER-18-10_8368417a1d","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761219147\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-18-10_8368417a1d\u002FNEW-FEATURED-IMAGE-MAKER-18-10_8368417a1d.png?_i=AA",{"altText":473},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":483},[],[485],{"name":438,"slug":439,"uri":440,"description":243,"postsCount":255},[],{"id":255,"title":488,"date":489,"excerpt":490,"wordCount":491,"uri":492,"slug":493,"cloudinaryAssetId":494,"featuredImageOriginalUrl":495,"featuredImageMetadata":496,"author":497,"categories":499,"relatedPosts":501},"德州仪器股价下跌近 6%，原因是管理层对前景持谨慎态度","2025-10-23 12:30:00","德州仪器（Texas Instruments）的股价下跌了 5%以上，因为这家芯片制造商提供的谨慎指导未能达到预期。 ",1001,"\u002Fblog\u002Ftexas-instruments-nasdaq-txn-stock-falls-cautious-management-outlook","texas-instruments-nasdaq-txn-stock-falls-cautious-management-outlook","images\u002FNEW-FEATURED-IMAGE-MAKER-18-7\u002FNEW-FEATURED-IMAGE-MAKER-18-7","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761214918\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-18-7\u002FNEW-FEATURED-IMAGE-MAKER-18-7.png?_i=AA",{"altText":488},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":498},[],[500],{"name":438,"slug":439,"uri":440,"description":243,"postsCount":255},[],{"id":255,"title":503,"date":504,"excerpt":505,"wordCount":506,"uri":507,"slug":508,"cloudinaryAssetId":509,"featuredImageOriginalUrl":510,"featuredImageMetadata":511,"author":512,"categories":514,"relatedPosts":519},"超级微型计算机初步业绩疲软，股价下跌近 9","2025-10-24 13:00:00","2025 年 10 月，SMCI 股票从历史高点下跌近 60%，继续令投资者失望。 ",1031,"\u002Fblog\u002Fsuper-micro-computer-stock-sinks-almost-9-on-weak-preliminary-results","super-micro-computer-stock-sinks-almost-9-on-weak-preliminary-results","images\u002FNEW-FEATURED-IMAGE-MAKER-18-15\u002FNEW-FEATURED-IMAGE-MAKER-18-15","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761295689\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-18-15\u002FNEW-FEATURED-IMAGE-MAKER-18-15.png?_i=AA",{"altText":503},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":513},[],[515],{"name":516,"slug":517,"uri":518,"description":243,"postsCount":255},"一般投资","general-investing","\u002Fblog\u002Fcategory\u002Fgeneral-investing",[],{"id":255,"title":521,"date":522,"excerpt":523,"wordCount":524,"uri":525,"slug":526,"cloudinaryAssetId":527,"featuredImageOriginalUrl":528,"featuredImageMetadata":529,"author":530,"categories":532,"relatedPosts":534},"Beyond Meat 股票大涨 600%，因为 Meme 交易商跃跃欲试","2025-10-22 14:00:00","Beyond Meat 是一只 \"备忘录 \"股票，由于散户投资者发起的空头挤压，它在过去三个交易日中上涨了 600%。 ",871,"\u002Fblog\u002Fbeyond-meat-stock-surges-600-as-meme-traders-jump-on-board","beyond-meat-stock-surges-600-as-meme-traders-jump-on-board","images\u002FNEW-FEATURED-IMAGE-MAKER-18-3\u002FNEW-FEATURED-IMAGE-MAKER-18-3","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Fw_600,h_400,c_scale\u002Ff_webp,q_auto\u002Fv1761139704\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-18-3\u002FNEW-FEATURED-IMAGE-MAKER-18-3.png?_i=AA",{"altText":521},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":243,"socialMediaLinks":531},[],[533],{"name":516,"slug":517,"uri":518,"description":243,"postsCount":255},[],{"id":255,"title":536,"date":537,"excerpt":538,"wordCount":539,"uri":540,"slug":541,"cloudinaryAssetId":542,"featuredImageOriginalUrl":543,"featuredImageMetadata":544,"author":545,"categories":547,"relatedPosts":549},"iPhone 17 需求强劲，苹果股价飙升至历史新高","2025-10-21T13:30:00","\u003Cp>由于投资者对 2025 年 iPhone 的强劲销售持乐观态度，苹果公司股价刚刚创下历史新高。 \u003C\u002Fp>\n",1087,"\u002Fblog\u002Fapple-stock-surges-to-all-time-highs-on-strong-iphone-17-demand","apple-stock-surges-to-all-time-highs-on-strong-iphone-17-demand","images\u002FNEW-FEATURED-IMAGE-MAKER-16-1_829620d0b3\u002FNEW-FEATURED-IMAGE-MAKER-16-1_829620d0b3","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1761045495\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-16-1_829620d0b3\u002FNEW-FEATURED-IMAGE-MAKER-16-1_829620d0b3.?_i=AA",{"altText":536},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":404,"socialMediaLinks":546},[],[548],{"name":516,"slug":517,"uri":518,"description":243,"postsCount":255},[],{"id":255,"title":551,"date":552,"excerpt":553,"wordCount":554,"uri":555,"slug":556,"cloudinaryAssetId":557,"featuredImageOriginalUrl":558,"featuredImageMetadata":559,"author":560,"categories":562,"relatedPosts":564},"甲骨文股价为何从历史高点下跌 16%？","2025-10-21T13:00:00","\u003Cp>2025 年 10 月，由于投资者对这家云计算巨头的高估值持谨慎态度，甲骨文股价从历史高点下跌了 16%。 \u003C\u002Fp>\n",980,"\u002Fblog\u002Fwhy-is-oracle-nyse-orcl-stock-down-16-from-all-time-highs","why-is-oracle-nyse-orcl-stock-down-16-from-all-time-highs","images\u002FNEW-FEATURED-IMAGE-MAKER-16_829067c4c5\u002FNEW-FEATURED-IMAGE-MAKER-16_829067c4c5","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1761043617\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-16_829067c4c5\u002FNEW-FEATURED-IMAGE-MAKER-16_829067c4c5.?_i=AA",{"altText":551},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":404,"socialMediaLinks":561},[],[563],{"name":516,"slug":517,"uri":518,"description":243,"postsCount":255},[],{"id":255,"title":566,"date":567,"excerpt":568,"wordCount":569,"uri":570,"slug":571,"cloudinaryAssetId":572,"featuredImageOriginalUrl":573,"featuredImageMetadata":574,"author":575,"categories":577,"relatedPosts":579},"网络安全公司 F5 披露遭 \"国家-国家 \"黑客攻击后股价下挫 11","2025-10-17T13:30:00","\u003Cp>在网络安全公司 F5 Networks 昨天披露了一起民族国家黑客攻击事件后，这只科技股下跌了 11%。 \u003C\u002Fp>\n",1092,"\u002Fblog\u002Ff5-nasdaq-ffiv-stock-sinks-disclosed-a-nation-state-hack","f5-nasdaq-ffiv-stock-sinks-disclosed-a-nation-state-hack","images\u002FNEW-FEATURED-IMAGE-MAKER-14-2_81683fe491\u002FNEW-FEATURED-IMAGE-MAKER-14-2_81683fe491","https:\u002F\u002Fres.cloudinary.com\u002Ftikr\u002Fimages\u002Ff_webp,q_auto\u002Fv1760690139\u002Fimages\u002FNEW-FEATURED-IMAGE-MAKER-14-2_81683fe491\u002FNEW-FEATURED-IMAGE-MAKER-14-2_81683fe491.?_i=AA",{"altText":566},{"name":354,"slug":355,"role":242,"roleTitle":243,"biography":243,"avatar":404,"socialMediaLinks":576},[],[578],{"name":516,"slug":517,"uri":518,"description":243,"postsCount":255},[]]