· 供应链分析
涉及标的： $6728
一个随手想法： 美国政府/日本应该把 Ulvac（6728）列入出口管制名单，让它们停止向中国发货。 这样就能扰乱中国整个人形机器人计划（因为它是“军民两用应用”）。 作为对上游 InP/稀土相关出口管制的报复。 对袜子出口加45%关税没什么用，但扰乱中国机器人计划，确实有用。 Ulvac 是日本在钕磁体上的主要 chokepoint。 “Ulvac 长期通过其中国子公司制造稀土磁体真空熔炼炉。” 所以也许该让这件事停下来？ 如果它们停止出货，你可以打断宇树和其他中国人形机器人量产供应链。 只有当中国允许稀土出口重新流动时，出口才能继续。
Just a shower thought: US Gov/Japan should put Ulvac (6728) on the export control list so they stop shipping to China. That way you can disrupt China's entire humanoid program (since it's "Dual Use Military Applications"). As retaliation over upstream InP/rare earth related export controls. Adding 45% tariffs on sock exports won't do much, but disrupting China's robotics program, sure. Ulvac is Japan's major chokepoint over neodymium magnets. "Ulvac has long manufactured rare-earth magnet vacuum melting furnaces through its Chinese subsidiary". So maybe put that to rest? If they stop shipping, you can break Unitree's and other humanoid mass production supply chains in China. And only if they allow rare earth exports to start flowing again, then exports can continue.