Bloomberg直播讨论ABB机器人中国需求、NVIDIA仿真软件合作及SoftBank收购进展

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-20 09:30–10:00(Asia/Shanghai),共 196 段
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[09:30] Yeah, that's being reported today out of CCTV that the CSRC is will be holding this meeting to.
[09:30] Stabilized markets, it's unclear, at least to me specifically whether that's a short term look at because of what happened on Friday.
[09:30] Is that more medium to longer term, that is just to say, of course, the context really that the markets are looking at is that extreme wobble.
[09:30] That we had in Friday, and as Rebecca was just pointing out, right it was just about across the board, including.
[09:30] Inland Chinese markets, including the drop on the Philadelphia semiconductor index when you look at Asia today and of course, we are getting this balance quite obvious.
[09:30] On your screens we're up 1.3% in a ci 300 malai of course, separate news there and we're up 1.6% in terms of higher.
[09:30] Pricing on the retail, I believe it's the retail tranche of not an IPO, of course, of Malta and the flagship.
[09:30] Liquor liquor Brad there, flip the page when you look at Hong Kong, so you have moonshot obviously as well, Kimmi was a story on Friday.
[09:31] It became Alibaba and that unveiling of some of the parameters, very basic and as far as information goes Ali.
[09:31] ough 3% there, and then we turn our attention back to Moonshot AI on the back of our reporting that over the next six months we could see, of course, that massive.
[09:31] which I guess then goes into some of the big AI plays coming up on news screens, I mean, just keep in mind, right, the last few days have seen just a lot.
[09:31] Of big name chinese companies being reported to want to list or announcing their listing so whether that's.
[09:31] Xin Zhongji Inalite, know we've talked a lot about CxMT, Moonshot AI, so you got to wonder too why the price wobbles.
[09:31] Could that be down to liquidity stress number one and down to the fact that some of these other places have done very, very well as far as the chip stocks go?
[09:31] Liithium and solar stuffs very quickly coming up on your screens, we now have to believe tax is being reintroduced here 2027.
[09:32] Was part of some of the announcements, not a lot of reaction here, but yes, going into the session today, Rebecca we're looking at.
[09:32] A lot of including some technical too, I believe Yeah, it's I mean, it is the A style story.😊
[09:32] The big story and not just for our markets, of course, as you were pointing out there, really we're seeing the AI race kicking up again.😊
[09:32] We have this new wave of domestic models that's raising fresh questions, essentially it's the hardware versus software question.😊
[09:32] And of course, then the read through as you're pointing out CSI 300 Ch next, the 200 dailyMoving.😊
[09:32] Eage key technical levels that we are watching, whether or not we see that kind of come back a little bit more. And on that point, this turnover of.
[09:32] TWe saw eight of the ETFs that are popular with the so called national team of buyers enormous turnover.
[09:32] I think it was the higher since January, so we'll continue to see if there is that support for the market, particularly because we have that.😡
[09:33] CSRC meeting around market stabilization coming through today reported out of CCTV and finally just on that sort of broad.😊
[09:33] Marke and other notes that we're looking at oil, of course, given the strikes that we've seen and the tipt for retaliation between.
[09:33] Iran and the US that have come through and K how Mai is really interesting, we see I think the second price hike in.😊
[09:33] About three months, it's very, very unusual for Maloite that we rarely have seen price hikes before this, in fact, and finally the chip story,😡
[09:33] We go back and where we began, it is an AI story for today, absolutely all the way Dave.😊
[09:33] Yeah, okay, so I guess we're reeling still from the World Cup is over, I know a couple of people who.
[09:33] upp very early or still up early this morning, whether that's feasting on your preference of alcohol or.
[09:34] Very very early coffee here in the Asia p, it was a 3 am match of course, and just to mention that on Mata to Rebecca's point.
[09:34] M from July 18th, which was effectively on the weekend, raising the product price there to 1639.
[09:34] $242 U dollars per bottle that's an increase from 227, so you do the math that's about $15 dollars in terms of a price hike China.
[09:34] Of course, going back to the Friday session and the dip for the very first time since 2025, of course, dip below that 20.
[09:34] Moving average, we're a little bit above that last I checked going into the session today, but yes, it's really this pullback we're focusing on and whether or not this is a buying opportunity.
[09:34] Let's bring in Jason Louis, head of APPAC equity derivative strategyate at B&P Par, but very nice to see you and good morning, thank you What happened on Friday?
[09:34] That's a good question because when you look at the price action on Friday, it seems that it's a across the board sell of, not just in the global tech, but also.
[09:34] Asia Tech and China Tech included, I think Rebecca mentioned earlier that last Friday we had one of the larger moves that we' have seen in CSI 300.
[09:35] What is interesting is that the reason that could be the case is because over the past six months, the technology side of China ass actually have.
[09:35] Increed significantly, both in terms of market cap and turnover. So we've accumulated a lot of gains throughout that period. And as we've gone through.
[09:35] The month of July, we have seen the entire global market getting a little bit more concerned about this hardware versus software debate that you mentioned, so we've accumulated a lot of nervousness.
[09:35] Heading into the week, and then you had a few models coming out that really provided another catalyst for people to consider because when you look at the price action last Friday.
[09:35] The China hardware stocks actually suffered the most because of that battle between, okay, who's now having more value out of this AI supply chain?
[09:35] Right, so give us a preview against that backdrop, What do you think this week will look like Sure, I think a couple things we can look at first is that last week certainly,
[09:35] Felt like there's some liquidation event across the market we have seen certain things happening in South Korea, in other markets as well.
[09:36] As you reported earlier, there's some kind of government meeting that is trying to stabilize the market a little bit, but ultimately I think it has to boil down to fundamental.
[09:36] When we look at the fundamentals so far, all the companies that have reported their earnings has been quite good. Now, of course, investors are always trying to be forward looking.
[09:36] So far, we have not seen enough definitive evidence how this whole dynamic will shift. What we do know is that it seems that based on the latest report.
[09:36] The gap between the China model and perhaps the frontier model are shrinking, but there's still a gap. So the problem is that, Ok, how much of a gap is being already.
[09:36] Price into the market, but not just in Asia, across the Asia technology complex as well, I want to.
[09:36] As you say, there isn a little bit of an information gap here, but when it comes to that hardware versus software debate, when it comes to this question of where there is,😊
[09:36] demandmand is just going to be reduced and that nervousness, is it justified. How nervous do you think we.
[09:36] Should be around the ability of these frontier Chinese models to essentially defer to software, rather than.
[09:37] Relying on chips, hardware chips. Sure, I think you have a great point about demand. So I think based on what we have seen.
[09:37] So far, it seems that all these Chinese new open weight model, they do have very, very large parameters. where talk about trillions of.
[09:37] Which means that from a hardware standpoint, they will also require a lot more hardware in order to run. So the problem at the moment perhaps.
[09:37] Not about the quantity, but the price we have seen based on the companies that have reported earnings for the past one or two months, their gross margin is extremely high.
[09:37] For a technology hardware company. So perhaps one of the things the market is trying to decide is that if we have a transition from high margin.
[09:37] To higher volume but lower margin, is that enough to justify some of the valuation that we have seen, not just in China, but the global technology hardware space.
[09:37] Jason, I just want to follow up on that point.😊
[09:38] What about the concentration risks that we're seeing around the AI trade in Asia, how should investors be making sense of that?
[09:38] Sure, I think you're absolutely right in terms of the concentration risk, and this is probably most pronounced when it comes to.
[09:38] Markets like South Korea and Taiwan. And to a large extent, Japan, for the Nikki 225 index, it's also heavily driven by the AI sentiment.
[09:38] Well, I think in this case, what we do notice is that when investors trying to derisk, they try to look across, okay, what else can I rotate?
[09:38] In which presented interesting dilemma, because when you look at markets like South Korea and Taiwan, they are indeed heavily driven by technology.
[09:38] But when it comes to Japan until last Friday, we have actually seen investor rotating out of technology into more domestic facing sector and financials.
[09:38] PartAnd the case is also true to the Hong Kong China complex as well, because when we look at the performance of the Hong Kong listed indices, they've actually seen.
[09:38] Quite a bit of rebound over the past three weeks as both the global and the Chinese investors starting to gradually rotate out of the hardware into other cities.
[09:39] marketSo you recently came from the U, and I would imagine most of your if.
[09:39] The bulk of your conversations around AI first, I guess, what's the takeaway for you as far as investment strategy is concerned.
[09:39] See more and more of these developments in China, whether that's model competency or the closing of some bo.
[09:39] Next across the hardware stack is what's do I look at China as a threat to the US bull market or can both co?
[09:39] YesI guess it's my question. Go it. I think one of the biggest kind of notice and point that I've came across is that investor no longer look at AI.
[09:39] Geographic standpoint, I think the investor I met, they have a global AI view in mind. and because of that global AI view, they have no choice.
[09:39] To look at European, US and Asia Tech together, I think China Tech is still a little bit different because they have their own ecosystem. But very few investor told me that I.
[09:40] Only invest in US. It's almost that when they look at Asia, it's a simple extension of a lot of the traits that they already have in the US. but because they are benefiting.
[09:40] From the entire supply chain going up, they are very, very focused. I think that's the first part. The second upon when it comes to Asia China onshore, I think.
[09:40] This rising acknowledgement that the technology development in China has been very strong, I think due to geopolitics or due to information barrier to.
[09:40] At this point, I think theyre still hesitant to go very active because I think they still worry that what if there's some additional geopolitical risk,.
[09:40] Com to interest in Asia. I think they basically look at it as one big global trade rather than divide it into geography, Jason.
[09:40] So much, very nice to see you have a great week ahead Jason with the head of AFAC Equity derivative strategyategy at BNP Par, but we do have some breaking news right now, let me just get it up.
[09:40] My okay, so we are hearing now from marco Ruio, he is of course traveling to Asia Pacific let me just get up the latest information here.
[09:40] I have it, so number one, he does anticipate the visit of Chinese President Xi Jinping.
[09:41] Will happen, of course that is the broader expectation still that's going to take place in the latter part of September point number one point number two.
[09:41] Coming through as well as China is sending teams that he used to prepare exactly for that U.S. trip.
[09:41] you're wondering why perhaps we're getting more commentary coming through along these lines and another line coming through here.
[09:41] for China and the U. to continue talking was if you joined us on Friday, that prime time briefing out of the White House.
[09:41] With President Trump accusing China of meddling in the U.S. elections, questions arose.
[09:41] Maybe more past tense and present tense, whether or not that would derail this current day tate and the upcoming trip and so far.
[09:41] The U.S. Secretary of State is pouring cold water in that speculation, and he is saying that the U.S. trip of Chinese President.
[09:42] 🎼Ch J thing in September will happen We'll leave it there for now. we have lots more coming up here on the China show.
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[09:43] Good morning and welcome back, you're watching the China show brief look.
[09:43] Mart's about 50 minutes of the cash market session. And yes, we are getting a very decent bounce following the route on Friday. so we'll continue to.
[09:44] Of what happens in these markets in the meantime though we're continuing our coverage of course, and shanghai and midminlo China correspondent there is on the ground for us.
[09:44] The world AI con friends in the city with her next guest.
[09:44] display here at the World AI conference and I'm joined now by Henry Han, the China president of ABB Robics.
[09:44] Great to have you here we are right here at your booth I know you're showcasing some of your latest technology tell us about the breakthroughs you've been making in this field.😊
[09:44] Yes, we're so focused on the autonomous versatile robots right in this WS.
[09:44] This year, we featured our newest development, we call Rob Studio Hyper realityality, which a software package we developed.
[09:44] Together we in media, so that software package enable us using the real life data, inside data, similarly data to train.
[09:44] robot before it's getting physically deployed in the production line So this.
[09:45] We enable our customer to save 80% effort of a commissioning inside up,40% off cost.
[09:45] The50% to marketWow, there's a pretty tremendous cost savings there can you tell us about, you know, given so much developments in this space.
[09:45] Over the last years, what are some of the changing trends you're seeing when it comes to your client needs for industrial robotics?
[09:45] Customers really want more tailor made specific to their environment, their application.
[09:45] And AI powered robots, so we see a lot of demand on AI driven AI powered robotics.
[09:45] That also means you need to invest a lot in R and right, Tell us more about your Capex and your investment priorities. Oh, yes, yeah, we have a.
[09:45] in China. So that putting production in December 2022, and also, we have about 300 R.
[09:46] in this facility. So all this give us the capability to provide a full.
[09:46] A chain of robots, we have industrial buss, coal busts and auto mobile robots and gaming.
[09:46] Customer at different maturity of their automation level entry point and the past scale.
[09:46] Your earnings, your revenue decline in 2024,2025 was flat. How are things looking like now, is it.
[09:46] Yes, very much, so we just closed our quarter two, which is the highest production man quarter in our history.
[09:46] So also now we're in the quarter three, we see also the demand pickup, we really think we're going to have a fantastic2.
[09:46] How are you going to compete against all of these Chinese startups, There's so many of them here at WIC where this cost.
[09:46] The How do youend off thes Well, that's great to be in this environment. our supply chain.
[09:47] Very localized. more than 80% are parts with source from China and our product,90% delivered.
[09:47] Customers are manufactured in our Shanghai plant. So this is the environment to be in this business. So it's definitely fear.
[09:47] Rk competition. But ABB bringing more than 50 years expertise in the motion control.
[09:47] A couple of our latest AI technology we developed internally and also work with our partners locally.
[09:47] And internationally, so we're very confident we're going to have our next chapter returning China Are you planning to.
[09:47] Hmanoid robotic Wellow that's a very touching question you know, we have some research into that field for sure, but we're not.
[09:47] Yeah, to develop the socal two leg humanoid in the market because our mission is further enough.
[09:48] Industrial automation, then we yet see that a human knowledge is ready for that. but we have our answer to.
[09:48] Market our autonomous versatile robot So our AV our program were delivered.
[09:48] Wieled the robot on the platform very soon this year, and that's pretty much can do.
[09:48] A lot of people think human art need to be doing you mentioned to me earlier that you have.
[09:48] Three global mega factories, but the Shanghai one is actually the most advanced tell me what is advanced about the Shanghai factory.
[09:48] What lessons youre learning from Shanghai that you're applying to the rest of the world. Yeah, so we have three major manufacturing bases in Sweden, in US and India.
[09:48] China, China plan we put into production by December 2022 is the biggest and most advanced so far.
[09:48] So this factory, actually, instead of using the traditional assembly line, we have a flexible modular work cell.
[09:49] Then digitally connected and network that's served by autonomous mobile robots, bringing the powers assembly around the.
[09:49] SaSo that cut are a roast base by 50% Well boosts production capacity by 300%.
[09:49] So that is really unparalleled in the industry now we're building up bigger expansion in Sweden, all that learning.
[09:49] In China, we actually bring back to Sweden where the ABB robots was born.
[09:49] I understand that there is a deal going on ABB robotics, potentially going to be sold to softbank. Can you share with us what the progress.
[09:49] If you pass regulatory review, you know, are things about to be concluded Well, we're still in the government regulatory review phase.
[09:49] We was still working on it, but we're very confident we can close the deal in the second half of this year.
[09:50] Can you share what was the reason underpinning this spin off, is it because robotics in general as part of ABB group perhaps is underperforming some of the.
[09:50] The segments like the electrification and building and of it Well, that's since the rational one AB first want to.
[09:50] C out robotics and listed our standal alone company because the profile of this business is very different.
[09:50] From the rest of AB business, our profit margin is lower because the competitiveness of the business and also the.
[09:50] Capital requirement to develop your technology, the AI. So made the ABB group think it's probably better for us to.
[09:50] Send that loan, then you know a couple months after we made that decision, Southbank come along a bit to acquire us.
[09:50] All right, thank you so much, this was Henry Han, the China president and group senior vice president at ABB Rob.
[09:50] And certainly a very competitive landscape here when it comes to robotics in China excellent thank you,, yeah, really get a sense of just.😊
[09:51] How many players are in this very crowded scene, We'll have more from the World AI conference coming up in the next.😊
[09:51] 🎼With Matrix Robotics founder and CEO Alan Zhang on his outlook for the sector and why he thinks robots can be used to beat China.😊
[09:51] 🎼DemographicThis is Bloomberg.😊
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[09:52] Bringing you up to the minute geopolitical news whenever and wherever it happens.
[09:52] Kendall in Geneva, Switzerland and this is bloomloomberg.
[09:53] Right, welcome back Friday, we're coming up the Friday session which is I think useful.
[09:53] A useful background just to understand really the price bounds we're seeing today across the index itself keep in mind, of course we're coming up the worst yet.
[09:53] It's I 300 specifically going back to liberation day yes, we are getting a bounce in terms of market breadth, it's not completely.
[09:53] Positive one across the board in fact, when you look at chips, for example, a du mini max would have you coming up on your screens very shortly, we are extending the losses against it.
[09:53] But we're trying to understand really where we are and as far as the Iran's situation is concerned because we haven't heard specifically from the U.S. president here.
[09:53] ing from markco rubio at the joint Air Force base at Andrewws here talking about how they are looking.
[09:53] Respond to what's happening from the iranian side of things and hence brent at 90 bucks on your screen.
[09:54] Maybe the balance we're seeing across parts of this market and not all because of the geopolitical overland and premium we're seeing there, and I think we just showed you DPo.
[09:54] Meanni maximum of the movers beneath the hood in the hangs index, for example, alibaba is very much in focus today given the useful we've seen there coming out of the weekend.
[09:54] On Baba May 1wa and Chinaa construction bank, chinx movers coming up on your screen's massive move down on friday on the chinx massive move up.
[09:54] Today across that specific benchmark, Chinese benchmarks looking like this about 25 minutes into the session and one other market we're trackinging closely is south.
[09:54] K gapap lower erased most of its losses and as we speak is now headed back towards section low. we have lots more head in the second hour.
[09:54] Of the China show.
[09:55] Do you mind being called an ideological lunatic or a bunch of left wing nut jobss you know, I've been called worse things than that.
[09:56] Youd think she owned the place?
[09:56] And me, I think is so incredibly valuable we're coming back had that kind of detective story feel to it.
[09:56] When you're hot on the trail of something, you know that it's very exciting What magazines were you reading as a kid I don't think I was reading magazines until.
[09:56] Within them you are on the cover of all of these Oh and there's many, many more, but we still have time Why should people?
[09:56] Trus you I don't think anybody should trust any company or entity completely with any of this It's very intelligence.
[09:56] Is this force that is far bigger than we are I want to build better businesses around these brands.
[09:56] The shock will never wear off So you're brother and sister running one of the most powerful companies in the world when you argue who wins?
[09:56] The way I could see AI being banned or blocked is this something.
[09:57] if something really went wrong, then maybe it deserves to be is it paradise ahead.
[09:57] We're in the middle.
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[09:58] This global phenomenon continues to chart new territory tennis that.
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[09:58] 🎼Good morning.😊
[09:59] 🎼And welcome back to the China show, it has been a very busy morning, a quick peek at the CSI 300 half an hour into the session.😊
[09:59] Well, yeah, more than one and a half percent already nearly shy, just shy of two there, and really it's a Friday and a weekend story coming.😊