Federal Register Public Inspection — US International Trade CommissionDoubao · 实盘不做把握 6/10不做原因:已被定价
北京时间·🕒 发布 20:45:00(美东 08:45)·⟳ 抓取 20:45:42回填·⚡ 决策 10-13 20:53:20·14.0 天前
美国ITC就Vicor对垂直供电(VPD)系统发起337调查立案,点名台达、英飞凌、MPS、立讯、富士康、广达等20家被诉方
本信号是USITC立案后的Federal Register程序性公示,真正的信息点(立案)已于10-09 USITC新闻稿、10-12 Vicor/GlobeNewswire稿公开并经历两个美股交易日;原告Vicor股价不涨反跌(立案当日+1.4%、次日-2.5%、10-13盘前-2.3%,近5日-15%、距高-22%),表明利好已消化甚至sell-the-news;被诉方全为超大市值、单一立案不构成实质净损害,做空不满足强催化门槛。做多无edge、做空无强度,故回避。
📄 原文Federal Register Public Inspection — US International Trade Commission↗ 原文
7020-02 INTERNATIONAL TRADE COMMISSION [Investigation No. 337-TA-1526] Certain Vertical Power Delivery Systems, Compone…
不做 Vicor Corporation(VICR.US)
立案信息10-09/10-12已公开并消化,立案后股价不涨反跌(近5日-15%、盘前-2.3%),本Federal Register文件仅程序公示无新增事实;距排除令12-18个月、结果不确定,无近端正edge,不追多。
不做 Monolithic Power Systems(MPWR.US)
被直接点名但属超大市值电源管理龙头,单一337立案无即时禁令且营收敞口小,不构成实质净损害,做空催化与置信均不足。
不做 台达电子(2308.TW)
被诉方之一但体量大、VPD对美敞口占比小,立案为程序早期、无即时进口限制,无可交易利空。
不做 立讯精密(002475.SZ)
以组装身份被列名,无证据显示VPD构成重大收入或面临即时禁令,做空方向不成立。
不做 工业富联(601138.SH)
AI服务器/ODM被列名,但立案≠败诉或禁令,当前主业交付不受影响,无实质重大性。
不做 其余被诉方(英飞凌/广达/伟创力/天弘/Ingrasys等)(N/A)
均为大盘组件/ODM/EMS商,单案立案阶段无即时净损害、敞口未量化,做空强度不足,统一回避。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
Vicor的VPD 337案仅处立案阶段,利好早已在10-09/10-12扩散且股价已回落,无近端正edge;20家被诉方均为大盘龙头、单案不构成实质利空。多空皆无清晰可交易机会,回避。
消息传播链
- USITC于10-09下令对337-TA-1526立案并发新闻稿,为本案立案信息的官方首发
- Vicor 10-12发GlobeNewswire稿宣布立案,市场在10-09与10-12两个交易日已可见该催化
- 本信号为立案后的Federal Register公开检视文件,出版日期10-14,属程序性公示、无新增事实市场反应:VICR 10-09收+1.4%、10-12收-2.5%、10-13盘前约-2.3%,利好未获正向重定价
关键理由
- 立案对Vicor是其IP授权战略的边际正向量(潜在排除令+许可谈判筹码),但仅为12-18个月程序的起点,本Federal Register文件无新增事实
主要风险
- 若ITC后续颁发排除令或达成大额许可/和解,可能成为Vicor新的实质催化,届时需重新评估
- 被诉方若被认定侵权且VPD对美敞口大,相关ODM/电源厂可能面临供应调整,但目前无证据、时点遥远
反向证据
- 做多前查反向 · 来源 web · 日期 2026-10-13 · 影响 weakens
VICR 20日+40%但近5日-15%、距60日高-22%、PE(TTM)约99,立案当日不涨、次日及盘前续跌,呈利好兑现回落,追多edge弱
检索:Vicor VICR 立案后股价 回落 估值 风险 ITC outcome uncertainty 原文 ↗ - 做空前查反向 · 来源 web · 日期 2026-10-13 · 影响 invalidates
被诉方均为超大市值龙头,立案阶段无即时排除令、无证据显示VPD构成重大对美收入敞口,不满足强空催化
检索:Delta MPS Luxshare Foxconn VPD US revenue exposure section 337 exclusion likelihood 原文 ↗
先例如何影响了这次决策
对本次决策的影响:先例与实盘共同支持不追多VICR、也不弱理由做空被诉方,最终给AVOID;不设tp/sl
方向:同主题可比先例(前案1370)表明真正驱动Vicor股价的是终局排除令/许可结果;本次仅立案,且该先例事件后K线无法取回有效统计,不足以支撑方向或幅度
涨幅量级:无锚点干净、同相位(立案日)的对齐先例;唯一analog是更强的终局裁定且未取得有效bar,不能用其校准本次立案的tp/sl
形态:本次立案后VICR实际盘面已呈见光/兑现回落特征(立案当日+1.4%、次日-2.5%、盘前-2.3%)
历史先例(按相似度)
- 相似度 5/10 VICR 2025-02-14 Vicor前案337-TA-1370于2025-02-13获终局、02-14公司宣布有限排除令(胜诉,强度高于本次立案) 原文 ↗
拟测VICR宣布后1/3/5日反应以校准IP消息弹性,但event_study因远期K线不足未返回有效统计
相似度依据:同原告、同电源模块337主题,但该先例是胜诉终局(有限排除令发布),本次仅立案,信息强度与阶段均弱于该先例
经验:Vicor的IP诉讼催化真正有股价驱动力的是终局排除令/许可落地,而非早期立案节点
工具执行结果 · 成功 6 · 降级 0 · 失败 1 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 11 ms
{"result": "search_processed_events:agent query=`certain vertical power delivery systems exclusion order investigation | vicor itc complaint delta infineon monolithic power luxshare patent 734 | vicor usitc 337-ta-1526 vertical p`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agen - web_search 成功 doubao_search · 2,074 ms
豆包搜索结果(原始查询:Vicor ITC 337 investigation vertical power delivery Delta Infineon Monolithic Power Luxshare instituted October 2026;API SearchType:web) - web_search 成功 doubao_search · 1,730 ms
豆包搜索结果(原始查询:Vicor VICR patent lawsuit 337-TA-1526 vertical power delivery AI data center;API SearchType:web) - stock_quote 成功 stock_tools HTTP · 1,118 ms
{ - web_search 成功 doubao_search · 1,930 ms
豆包搜索结果(原始查询:Vicor stock VICR reaction ITC investigation instituted February 2025 exclusion order shares;API SearchType:web) - event_study 失败 stock_tools HTTP · 678 ms
no precedent bars (sources returned nothing for the proposed events) - web_search 成功 doubao_search · 2,293 ms
豆包搜索结果(原始查询:Vicor 734 patent US 10903734 vertical power delivery factorized power claims AI accelerator side power;API SearchType:web)
原文全文
展开原文 · 8,366 字
7020-02
INTERNATIONAL TRADE COMMISSION
[Investigation No. 337-TA-1526]
Certain Vertical Power Delivery Systems, Components Thereof, and Computing Systems
Containing the Same; Notice of Institution of Investigation
AGENCY: U.S. International Trade Commission.
ACTION: Notice.
SUMMARY: Notice is hereby given that a complaint was filed with the U.S. International
Trade Commission on September 9, 2026, under section 337 of the Tariff Act of 1930, as
amended, on behalf of Vicor Corporation of Andover, Massachusetts. A supplement to the
complaint was filed on September 10, 2026. The complaint, as supplemented, alleges violations
of section 337 based upon the importation into the United States, the sale for importation, and the
sale within the United States after importation of certain vertical power delivery systems,
components thereof, and computing systems containing the same by reason of the infringement
of certain claims of U.S. Patent No. 10,903,734 (“the ’734 patent”). The complaint further
alleges that an industry in the United States exists as required by the applicable Federal Statute.
The complainant requests that the Commission institute an investigation and, after the
investigation, issue a limited exclusion order and cease and desist orders.
ADDRESSES: The complaint, except for any confidential information contained therein, may be
viewed on the Commission’s electronic docket (EDIS) at https://edis.usitc.gov. For help accessing
EDIS, please email EDIS3Help@usitc.gov.
Hearing impaired individuals are advised that
information on this matter can be obtained by contacting the Commission’s TDD terminal on (202)
205-1810. Persons with mobility impairments who will need special assistance in gaining access
to the Commission should contact the Office of the Secretary at (202) 205-2000. General
information concerning the Commission may also be obtained by accessing its internet server at
https://www.usitc.gov.
FOR FURTHER INFORMATION CONTACT: The Office of the Secretary, Docket Services
Division, U.S. International Trade Commission, telephone (202) 205-1802.
SUPPLEMENTARY INFORMATION:
Authority: The authority for institution of this investigation is contained in section 337 of the
Tariff Act of 1930, as amended, 19 U.S.C. 1337, and in section 210.10 of the Commission’s Rules
of Practice and Procedure, 19 CFR 210.10 (2025).
Scope of Investigation:
Having considered the complaint, the U.S. International Trade
Commission, on October 9, 2026, ORDERED THAT –
(1) Pursuant to subsection (b) of section 337 of the Tariff Act of 1930, as amended, an
investigation be instituted to determine whether there is a violation of subsection (a)(1)(B) of
section 337 in the importation into the United States, the sale for importation, or the sale within
the United States after importation of certain products identified in paragraph (2) by reason of
infringement of one or more of claims 1-8, 11-14, 18-26, 40-56, 65-71, 80, 81, 83, 84, 90-93, and
95 of the ’734 patent, and whether an industry in the United States exists as required by
subsection (a)(2) of section 337;
(2) Pursuant to section 210.10(b)(1) of the Commission’s Rules of Practice and
Procedure, 19 CFR 210.10(b)(1), the plain language description of the accused products or
category of accused products, which defines the scope of the investigation, is “vertical power
delivery systems and components thereof, used in data center server, artificial intelligence and
cloud computing systems, to power artificial intelligence (‘AI’) accelerators, tensor processing
units (‘TPU’), graphical processing units (‘GPU’) and central processing units (‘CPU’), and
computing systems containing the same”;
(3) For the purpose of the investigation so instituted, the following are hereby named as
parties upon which this notice of investigation shall be served:
(a) The complainant is:
Vicor Corporation
25 Frontage Road
Andover, MA 01810
(b) The respondents are the following entities alleged to be in violation of section
337, and are the parties upon which the complaint is to be served:
Delta Electronics, Inc.
186, Ruey Kuang Road, Neihu Dist.
Taipei 114501, Taiwan
Delta Electronics (Americas) Ltd.
46101 Fremont Blvd.
Fremont, CA 94538
DET Logistics (USA) Corporation
46101 Fremont Blvd.
Fremont, CA 94538
Infineon Technologies AG
Am Campeon 1-12
D-85579 Neubiberg/Munich
Federal Republic of Germany
Luxshare Precision Industry Co., Ltd.
313 Beihuan Road, Qingxi Town
Dongguan, Guangdong 523642, China
Dongguan Luxshare Technology Co., Ltd. a/k/a
Luxshare-Tech
8th Floor, Digital Technology Industrial Park,
CIMC Industrial City, No. 1 Yile Road,
Songshan Lake High-Tech Zone, Dongguan
City, Guangdong, China
Monolithic Power Systems, Inc.
5808 Lake Washington Blvd. NE
Kirkland, Washington 98033
Chengdu Monolithic Power Systems Co., Ltd.
#8 Kexin Road
Hi-Tech Comprehensive Bonded Zone
Chengdu, Sichuan 611731, China
MPS International (Shanghai) Ltd.
Suite 704-705, Tian An Centre
No. 338 Nanjing Road (West)
Shanghai 200003, China
Flex Ltd.
12515-8 Research Blvd, Suite 300
Austin, Texas 78759
Celestica Inc.
5140 Yonge Street, Suite 1900 Toronto,
Ontario, Canada
Quanta Computer Inc.
No. 211, Wenhua 2nd Rd., Guishan Dist.
Taoyuan City 333, Taiwan
Quanta Cloud Technology Inc.
1F, No. 211 Wenhua 2nd Rd., Guishan Dist.
Taoyuan City 33377, Taiwan
Quanta Cloud Technology USA LLC
1010 Rincon Circle
San Jose, CA 95131
Quanta Computer USA Inc.
45630 Northport Loop East
Fremont, CA 94538
Hon Hai Precision Industry Co. Ltd. (d/b/a
Foxconn)
No. 2, Zihyou St., Tucheng Dist.
New Taipei City 236, Taiwan
Foxconn Industrial Internet Co. Ltd.
2F C1 Foxconn Technology Park 2 Donghuan 2
Road Longhua
Shenzhen, 518109 China
FII USA Inc. (a/k/a Foxconn Industrial Internet
USA Inc.)
611 East Wisconsin Ave.
Milwaukee, WI 53202
Ingrasys Technology Inc.
5F., No. 1188, Nanqing Rd.,Luzhu Dist.
Taoyuan City, Taiwan
Ingrasys Technology USA Inc.
2025 Gateway Place, Ste. 190
San Jose, CA 95110
(4)
For the investigation so instituted, the Chief Administrative Law Judge, U.S.
International Trade Commission, shall designate the presiding Administrative Law Judge.
The Office of Unfair Import Investigations will not participate as a party in this
investigation.
The Commission is interested in the development of a thorough record on domestic
industry in this investigation to facilitate a holistic review of all relevant considerations.
Accordingly, the presiding administrative law judge may wish to consider what information will
be necessary to make a determination with respect to complainant’s domestic industry
allegations under subparagraphs (A), (B), and (C) of section 337(a)(3) based on an industry that
exists or is in the process of being established; including the extent to which these allegations
rely on expenditures made by third parties; and the extent to which expenditures are made
outside the United States related to the domestic industry article(s) by any entity.
Responses to the complaint and the notice of investigation must be submitted by the
named respondents in accordance with section 210.13 of the Commission’s Rules of Practice and
Procedure, 19 CFR 210.13. Pursuant to 19 CFR 201.16(e) and 210.13(a), such responses will be
considered by the Commission if received not later than 20 days after the date of service by the
Commission of the complaint and the notice of investigation. Extensions of time for submitting
responses to the complaint and the notice of investigation will not be granted unless good cause
therefor is shown.
Failure of a respondent to file a timely response to each allegation in the complaint and in
this notice may be deemed to constitute a waiver of the right to appear and contest the allegations
of the complaint and this notice, and to authorize the administrative law judge and the
Commission, without further notice to the respondent, to find the facts to be as alleged in the
complaint and this notice and to enter an initial determination and a final determination
containing such findings, and may result in the issuance of an exclusion order or a cease and
desist order or both directed against the respondent.
By order of the Commission.
Issued: October 9, 2026.
Lisa Barton,
Secretary to the Commission.
[FR Doc. 2026-20993 Filed: 10/13/2026 8:45 am; Publication Date: 10/14/2026]
INTERNATIONAL TRADE COMMISSION
[Investigation No. 337-TA-1526]
Certain Vertical Power Delivery Systems, Components Thereof, and Computing Systems
Containing the Same; Notice of Institution of Investigation
AGENCY: U.S. International Trade Commission.
ACTION: Notice.
SUMMARY: Notice is hereby given that a complaint was filed with the U.S. International
Trade Commission on September 9, 2026, under section 337 of the Tariff Act of 1930, as
amended, on behalf of Vicor Corporation of Andover, Massachusetts. A supplement to the
complaint was filed on September 10, 2026. The complaint, as supplemented, alleges violations
of section 337 based upon the importation into the United States, the sale for importation, and the
sale within the United States after importation of certain vertical power delivery systems,
components thereof, and computing systems containing the same by reason of the infringement
of certain claims of U.S. Patent No. 10,903,734 (“the ’734 patent”). The complaint further
alleges that an industry in the United States exists as required by the applicable Federal Statute.
The complainant requests that the Commission institute an investigation and, after the
investigation, issue a limited exclusion order and cease and desist orders.
ADDRESSES: The complaint, except for any confidential information contained therein, may be
viewed on the Commission’s electronic docket (EDIS) at https://edis.usitc.gov. For help accessing
EDIS, please email EDIS3Help@usitc.gov.
Hearing impaired individuals are advised that
information on this matter can be obtained by contacting the Commission’s TDD terminal on (202)
205-1810. Persons with mobility impairments who will need special assistance in gaining access
to the Commission should contact the Office of the Secretary at (202) 205-2000. General
information concerning the Commission may also be obtained by accessing its internet server at
https://www.usitc.gov.
FOR FURTHER INFORMATION CONTACT: The Office of the Secretary, Docket Services
Division, U.S. International Trade Commission, telephone (202) 205-1802.
SUPPLEMENTARY INFORMATION:
Authority: The authority for institution of this investigation is contained in section 337 of the
Tariff Act of 1930, as amended, 19 U.S.C. 1337, and in section 210.10 of the Commission’s Rules
of Practice and Procedure, 19 CFR 210.10 (2025).
Scope of Investigation:
Having considered the complaint, the U.S. International Trade
Commission, on October 9, 2026, ORDERED THAT –
(1) Pursuant to subsection (b) of section 337 of the Tariff Act of 1930, as amended, an
investigation be instituted to determine whether there is a violation of subsection (a)(1)(B) of
section 337 in the importation into the United States, the sale for importation, or the sale within
the United States after importation of certain products identified in paragraph (2) by reason of
infringement of one or more of claims 1-8, 11-14, 18-26, 40-56, 65-71, 80, 81, 83, 84, 90-93, and
95 of the ’734 patent, and whether an industry in the United States exists as required by
subsection (a)(2) of section 337;
(2) Pursuant to section 210.10(b)(1) of the Commission’s Rules of Practice and
Procedure, 19 CFR 210.10(b)(1), the plain language description of the accused products or
category of accused products, which defines the scope of the investigation, is “vertical power
delivery systems and components thereof, used in data center server, artificial intelligence and
cloud computing systems, to power artificial intelligence (‘AI’) accelerators, tensor processing
units (‘TPU’), graphical processing units (‘GPU’) and central processing units (‘CPU’), and
computing systems containing the same”;
(3) For the purpose of the investigation so instituted, the following are hereby named as
parties upon which this notice of investigation shall be served:
(a) The complainant is:
Vicor Corporation
25 Frontage Road
Andover, MA 01810
(b) The respondents are the following entities alleged to be in violation of section
337, and are the parties upon which the complaint is to be served:
Delta Electronics, Inc.
186, Ruey Kuang Road, Neihu Dist.
Taipei 114501, Taiwan
Delta Electronics (Americas) Ltd.
46101 Fremont Blvd.
Fremont, CA 94538
DET Logistics (USA) Corporation
46101 Fremont Blvd.
Fremont, CA 94538
Infineon Technologies AG
Am Campeon 1-12
D-85579 Neubiberg/Munich
Federal Republic of Germany
Luxshare Precision Industry Co., Ltd.
313 Beihuan Road, Qingxi Town
Dongguan, Guangdong 523642, China
Dongguan Luxshare Technology Co., Ltd. a/k/a
Luxshare-Tech
8th Floor, Digital Technology Industrial Park,
CIMC Industrial City, No. 1 Yile Road,
Songshan Lake High-Tech Zone, Dongguan
City, Guangdong, China
Monolithic Power Systems, Inc.
5808 Lake Washington Blvd. NE
Kirkland, Washington 98033
Chengdu Monolithic Power Systems Co., Ltd.
#8 Kexin Road
Hi-Tech Comprehensive Bonded Zone
Chengdu, Sichuan 611731, China
MPS International (Shanghai) Ltd.
Suite 704-705, Tian An Centre
No. 338 Nanjing Road (West)
Shanghai 200003, China
Flex Ltd.
12515-8 Research Blvd, Suite 300
Austin, Texas 78759
Celestica Inc.
5140 Yonge Street, Suite 1900 Toronto,
Ontario, Canada
Quanta Computer Inc.
No. 211, Wenhua 2nd Rd., Guishan Dist.
Taoyuan City 333, Taiwan
Quanta Cloud Technology Inc.
1F, No. 211 Wenhua 2nd Rd., Guishan Dist.
Taoyuan City 33377, Taiwan
Quanta Cloud Technology USA LLC
1010 Rincon Circle
San Jose, CA 95131
Quanta Computer USA Inc.
45630 Northport Loop East
Fremont, CA 94538
Hon Hai Precision Industry Co. Ltd. (d/b/a
Foxconn)
No. 2, Zihyou St., Tucheng Dist.
New Taipei City 236, Taiwan
Foxconn Industrial Internet Co. Ltd.
2F C1 Foxconn Technology Park 2 Donghuan 2
Road Longhua
Shenzhen, 518109 China
FII USA Inc. (a/k/a Foxconn Industrial Internet
USA Inc.)
611 East Wisconsin Ave.
Milwaukee, WI 53202
Ingrasys Technology Inc.
5F., No. 1188, Nanqing Rd.,Luzhu Dist.
Taoyuan City, Taiwan
Ingrasys Technology USA Inc.
2025 Gateway Place, Ste. 190
San Jose, CA 95110
(4)
For the investigation so instituted, the Chief Administrative Law Judge, U.S.
International Trade Commission, shall designate the presiding Administrative Law Judge.
The Office of Unfair Import Investigations will not participate as a party in this
investigation.
The Commission is interested in the development of a thorough record on domestic
industry in this investigation to facilitate a holistic review of all relevant considerations.
Accordingly, the presiding administrative law judge may wish to consider what information will
be necessary to make a determination with respect to complainant’s domestic industry
allegations under subparagraphs (A), (B), and (C) of section 337(a)(3) based on an industry that
exists or is in the process of being established; including the extent to which these allegations
rely on expenditures made by third parties; and the extent to which expenditures are made
outside the United States related to the domestic industry article(s) by any entity.
Responses to the complaint and the notice of investigation must be submitted by the
named respondents in accordance with section 210.13 of the Commission’s Rules of Practice and
Procedure, 19 CFR 210.13. Pursuant to 19 CFR 201.16(e) and 210.13(a), such responses will be
considered by the Commission if received not later than 20 days after the date of service by the
Commission of the complaint and the notice of investigation. Extensions of time for submitting
responses to the complaint and the notice of investigation will not be granted unless good cause
therefor is shown.
Failure of a respondent to file a timely response to each allegation in the complaint and in
this notice may be deemed to constitute a waiver of the right to appear and contest the allegations
of the complaint and this notice, and to authorize the administrative law judge and the
Commission, without further notice to the respondent, to find the facts to be as alleged in the
complaint and this notice and to enter an initial determination and a final determination
containing such findings, and may result in the issuance of an exclusion order or a cease and
desist order or both directed against the respondent.
By order of the Commission.
Issued: October 9, 2026.
Lisa Barton,
Secretary to the Commission.
[FR Doc. 2026-20993 Filed: 10/13/2026 8:45 am; Publication Date: 10/14/2026]
决策记录链 · 只追加
每次领取产生一条记录,重新决策追加一条并以 supersedes 指向被替代的记录(ADR 0014)。
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