Files
2026-07-18 15:51:01 +08:00

1038 lines
34 KiB
JSON

{
"url_hash": "8cc2a55e1f20b978",
"source_id": "eastmoney",
"title": "价格飙升 三种小金属被AI算力逼到“断货”",
"text": "标题:价格飙升 三种小金属被AI算力逼到“断货”\n[sentiment=neutral importance=3 event_type=其他 公司=长电科技,通富微电,云南锗业,中际旭创,新易盛 行业=小金属,半导体,AI算力]\n摘要:AI算力需求推动锡、钽、铟等小金属价格飙升,上游矿企受益,下游封测、光模块等环节成本承压,供给端受限,涨价趋势持续。\n正文:在东方财富看资讯行情,选东方财富证券一站式开户交易>>\n2026年上半年,一批被称为“工业味精”的\n小金属\n热度极高。镓、锗、锑、\n钨\n、锡、钽、铟,几乎每一个品种都在涨价,不过涨法各不相同,有的靠出口管制定价,有的靠供给意外收缩,有的靠下游需求拉动。\n其中与AI算力绑定最深的是锡、钽、铟。过去半年,钽锭上涨158%,铟价上涨约60%,锡价涨超40%,涨价离不开AI算力基础设施对它们实打实的消耗。\n算力\n小金属\n价格飙升\n锡价从2025年11月的30万元/吨涨至今年6月初的45万元/吨,随后回调至约39.8万元/吨。涨价背后是供需两端的同步挤压。\n需求端,AI服务器单机耗锡是传统服务器的4倍以上,从\n先进封装\n到光模块焊点,每个环节都在加锡。2026年全球锡需求约37万吨,AI相关为1.2万—1.5万吨,占比虽小,增量几乎全来自AI。\n供给端,全球主要锡矿产区几乎同时受限。缅甸佤邦禁矿近三年后初步复产,产量仅恢复至停产前四到五成,且受雨季影响开采;印尼持续收紧出口配额和非法矿整治;受\n环保\n限产和品位下降影响,中国锡精矿产量呈下行趋势;刚果(金)占全球锡供应6%的Bisie矿,2025年因武装冲突停产,复产进度持续低于预期。四大主产区均无产量增长。\n同时,全球锡矿品位持续下降,成本中枢上移,LME库存处于历史低位。金瑞\n期货\n测算,2026年全球AI全链路锡耗1.21万吨,到2030年将达2.28万吨,四年接近翻倍。\n钽锭从2025年底的2600元/公斤涨至6月1日的6700元/公斤,涨幅为158%,三种金属中涨幅最大。\nAI服务器GPU功耗突破千瓦级,对供电稳定性要求极高,钽电容用量是传统服务器的10倍以上。业界分析认为,TPU服务器的钽电容单机用量甚至高于GPU服务器,随着2026年TPU芯片出货量大增,需求将进一步放大。\n国巨旗下基美从2025年6月开始已三次上调钽电容报价,松下也在2025年12月发出涨价函,对部分型号钽电容调涨15%—30%,新价格在2026年2月生效。因为上游矿端供应受限,业界普遍判断2026年钽电容供需紧张的情况难以缓解。\n从供给端看,全球钽矿集中在刚果(金)和卢旺达。2026年1月,刚果(金)东部鲁巴亚矿区因暴雨引发山体滑坡,多座矿井坍塌停产,3月该区域再次滑坡。该矿区约占全球钽供应的15%,接连矿难使钽精矿价格从80美元/磅飙升至257.5美元/磅。\n铟价从年初2960元/千克涨至6月中旬4720元/千克,涨幅约60%。ITO靶材和磷化铟衬底的真实需求增加,后者用于AI光模块,6英寸衬底已从8000元/片涨至1.8万—2.8万元/片。\n由于独立经济矿床稀缺,全球绝大多数铟产量需依附锌、锡等主金属的冶炼过程产生,这使得铟的供给完全受制于主金属的开采规模,供给弹性极低。\n江海证券指出,中国作为全球铟供应的核心,尽管储量及原生铟产量占据主导地位,但受主矿种周期波动、\n环保\n政策趋严、管控力度增强等因素影响,近年来原生铟产量不增反降。\n涨价的压力传到哪了?\n涨价的红利留在了上游矿企,压力却沿着产业链一层层往下砸。越往下游,越没有议价权。\n封测环节最先被挤压,锡价半年涨超40%,焊料是封测的核心耗材,\n长电科技\n、\n通富微电\n等封测厂直接承受成本冲击。面对晶圆厂和芯片设计公司,封测环节议价能力有限,向上游转嫁成本的空间不大。\n锡价翻倍式上涨对中小\nPCB\n厂的打击也不小,企业成本倒挂导致停产的案例已经出现。焊料行业更难熬。中小焊料企业大面积亏损,行业加速出清,只有头部企业能靠规模勉强撑住。\n光模块厂商则卡在磷化铟上。6英寸磷化铟衬底价格从2025年初的1400美元/片涨至2026年4月的5000美元/片,涨幅超250%。\n据Omdia、Yole数据,2026年全球磷化铟衬底需求将从2025年的200万—210万片提升至260万—300万片,而有效产能仅从2025年的60万—70万片提升至约75万片,缺口仍超70%。\n国盛证券\n指出,磷化铟单晶生长设备与制备技术门槛极高,行业技术壁垒深厚,市场长期由海外龙头主导,呈现高度垄断的竞争格局。\n国内6英寸磷化铟衬底国产化率不足5%。今年4月,\n云南锗业\n旗下鑫耀\n半导体\n宣布,在现有产能基础上扩建一条年产30万片(折合4英寸,含6000片6英寸)高品质磷化铟单晶片生产线,建设期18个月,最终产能将达45万片(折合4英寸)。\n图源:\n云南锗业\n公告\n中际旭创\n、\n新易盛\n等光模块龙头企业的出货量大幅增长,但磷化铟衬底的采购成本较此前翻倍,且产能被海外企业锁定,扩产周期长达18—24个月。业内人士称,短期内即便有订单也未必能获得足够的货源。\n靶材环节是少数受益方之一,但这也推高了晶圆厂的成本。含\n钨\n、\n钼\n、钽、\n钴\n的特种靶材价格涨幅高达60%—70%,12英寸高纯靶材全球供应短缺,交货周期超过六个月。\n阿石创\n一季度净利润同比增长572.39%,靶材涨价直接推动其实现盈利反转。\n图源:\n阿石创\n2026年一季度报告\n然而,靶材价格越高,晶圆厂的材料成本压力就越大。\n台积电\n已向客户暗示下半年3nm报价可能上调,涨幅最高约15%。\n这一轮能走多远\n2011年那轮\n小金属\n行情涨的是库存。泛亚交易所推出铟交易后,铟价从2011年底约418万元/吨一路被囤货锁仓推高至2014年底的714万元/吨,每年涨约20%。\n连涨的这三年,不是需求在增加,而是交易所在收。2015年泛亚崩盘,库存倾泻,铟价从500万元/吨暴跌至180万元/吨,游戏结束。\n本轮涨的则是实物消耗,锡变成了服务器焊点,钽变成了GPU旁的电容,铟进了光模块的激光器,它们在\n数据中心\n里被实实在在地消耗着。只要AI军备竞赛不停,这些金属每天都在被吃掉。\n微软\n、谷歌、\n亚马逊\n、Meta在2026年AI资本开支合计约7250亿美元,较2025年增长77%。\n高盛\n6月最新研报将2027年超大规模云企业资本开支基准预期上调至1.1万亿美元。但三个金属品种的供给端,2026年都看不到拐点。\n底盘扎实不意味着不会跌。沪锡6月初冲至45万元/吨后单周跌超8%,\n博通\n业绩指引不及预期使“算力金属”降温,可见市场情绪脆弱。\n上海某\n期货\n公司交易员张成(化名)表示:“小金属盘子小、流动性差,预期一旦转向,踩踏来得比上涨更快。”\n东财图解·加点干货\n全新妙想投研助理,立即体验\n(文章来源:中国基金报)",
"vector": [
-0.029848173260688782,
0.0550985224545002,
-0.07593948394060135,
0.0030526539776474237,
-0.005822654813528061,
-0.01523500494658947,
-0.0497092679142952,
0.0852481946349144,
-0.003992476034909487,
0.05121675133705139,
-0.019003713503479958,
-0.007697587832808495,
-0.035030148923397064,
0.007749407552182674,
0.04514913260936737,
-0.07194464653730392,
0.011701840907335281,
-0.006190103944391012,
-0.0070097981952130795,
-0.02996123395860195,
-0.047146547585725784,
0.06614083796739578,
-0.017157046124339104,
0.05709593743085861,
0.016469256952404976,
0.059620972722768784,
-0.08155485987663269,
0.03885538876056671,
0.09972003102302551,
0.025533001869916916,
-0.010467588901519775,
0.008550258353352547,
0.05803811550140381,
0.017157046124339104,
-0.016290243715047836,
-0.020030686631798744,
0.023252932354807854,
-0.04194572940468788,
-0.08818778395652771,
0.012813610024750233,
0.02095402032136917,
0.004689686931669712,
0.0186174213886261,
0.013181058689951897,
0.061731450259685516,
-0.028661029413342476,
-0.0300554521381855,
-0.052988044917583466,
-0.006260767579078674,
-0.04646817967295647,
0.005266770254820585,
-0.034954775124788284,
0.0179107878357172,
-0.05227199196815491,
0.05773661658167839,
0.020351028069853783,
-0.05408097058534622,
0.06263593584299088,
-0.08517281711101532,
0.01799558475613594,
-0.029829328879714012,
-0.006463335361331701,
0.00337534979917109,
0.007984952069818974,
0.0007655189838260412,
0.034935928881168365,
0.016186604276299477,
0.000764341268222779,
-0.032034024596214294,
-0.022310756146907806,
-0.011051738634705544,
0.027982663363218307,
-0.040438245981931686,
-0.025024225935339928,
-0.03316463530063629,
0.0065575530752539635,
-0.02133089117705822,
-0.050387635827064514,
0.053440291434526443,
0.0039029689505696297,
0.0770324096083641,
-0.05524927005171776,
-0.01819344237446785,
-0.004383479245007038,
-0.0005744336522184312,
0.06904274225234985,
-0.023441368713974953,
0.02430817112326622,
-0.06101539358496666,
-0.015734359622001648,
-0.002244737232103944,
0.011607622727751732,
0.02167007513344288,
-0.03653763234615326,
-0.007042774464935064,
-0.0009775088401511312,
-0.10371486842632294,
0.02108592540025711,
0.017656400799751282,
0.02766232192516327,
0.003660358488559723,
0.023252932354807854,
0.019210992380976677,
-0.025005383417010307,
0.047221921384334564,
-0.04190804064273834,
0.061995260417461395,
0.04556369036436081,
-0.03625497967004776,
-0.007485597860068083,
0.025853341445326805,
0.03567082807421684,
-0.020237965509295464,
-0.012700548395514488,
-0.028076879680156708,
-0.044131580740213394,
0.026022933423519135,
0.04526219144463539,
0.05430709198117256,
0.01201275922358036,
0.025796812027692795,
-0.022348443046212196,
0.014688542112708092,
-0.01802385039627552,
0.05762355774641037,
-0.016167759895324707,
0.040852803736925125,
0.009275734424591064,
-0.018937760964035988,
0.003907680045813322,
0.023686334490776062,
0.011098847724497318,
-0.037781305611133575,
0.012832453474402428,
-0.1034887433052063,
-0.06406804919242859,
-0.013520242646336555,
-0.026098307222127914,
0.009596074931323528,
-0.0355389229953289,
0.06602777540683746,
0.05758586898446083,
-0.009054322727024555,
0.013030310161411762,
0.0034577902406454086,
-0.06862818449735641,
0.04831484705209732,
-0.006303165573626757,
0.03960913047194481,
-0.01799558475613594,
0.004195043817162514,
-0.09022288769483566,
0.007221788167953491,
-0.025608375668525696,
-0.028095724061131477,
0.014763916842639446,
0.025909872725605965,
-0.0023943078704178333,
-0.0785398930311203,
-0.0061053079552948475,
0.01193738542497158,
-0.015074835158884525,
-0.043754708021879196,
0.025156131014227867,
0.007989662699401379,
0.015988746657967567,
0.012973779812455177,
0.03354150801897049,
-0.02168891951441765,
0.011748949065804482,
-0.02698395401239395,
-0.015762625262141228,
0.028378376737236977,
-0.05110369250178337,
0.012757078744471073,
0.028340689837932587,
0.1205986812710762,
0.007042774464935064,
0.009614918380975723,
-0.05751049518585205,
-0.06418111175298691,
0.013322385028004646,
0.014292827807366848,
0.0077164312824606895,
-0.022612253203988075,
0.020652523264288902,
0.016912080347537994,
0.002377819735556841,
0.007683455012738705,
0.02398783154785633,
-0.012615752406418324,
-0.022838374599814415,
0.003429525066167116,
-0.013407181017100811,
0.03862926363945007,
-0.002164652105420828,
0.008493727073073387,
-0.007429067045450211,
0.041154298931360245,
-0.025005383417010307,
-0.03324001282453537,
0.02760579250752926,
-0.022932592779397964,
-0.043528586626052856,
-0.023761708289384842,
0.04266178235411644,
0.007179390173405409,
-0.015800312161445618,
0.03388069197535515,
-0.006543420720845461,
0.0028335978277027607,
-0.022876061499118805,
0.0433778390288353,
0.01496177352964878,
-0.04888015240430832,
0.009172094985842705,
0.0069721112959086895,
-0.0537794753909111,
0.016478678211569786,
-0.04179498180747032,
-0.053214166313409805,
5.865605089638848e-6,
-0.04024980962276459,
0.014820447191596031,
0.026117151603102684,
-0.01813691109418869,
0.026720145717263222,
0.028604499995708466,
0.010062452405691147,
-0.025438783690333366,
-0.03327769786119461,
0.013133949600160122,
-0.007330138701945543,
-0.01208813302218914,
0.04330246523022652,
0.025137286633253098,
-0.011211908422410488,
-0.040965862572193146,
0.0005523513536900282,
0.01772235333919525,
0.03135565668344498,
0.01780714839696884,
-0.001626433338969946,
0.025438783690333366,
-0.03578389063477516,
0.059244100004434586,
-0.038195863366127014,
-0.011372078210115433,
0.03957144170999527,
-0.00599224679172039,
0.03222246095538139,
-0.02764347940683365,
-0.03964681550860405,
0.019390005618333817,
0.018956605345010757,
0.009643183089792728,
-0.0031515827868133783,
-0.01823112927377224,
-0.007655189838260412,
0.010053030215203762,
0.012417895719408989,
-0.053628724068403244,
-0.014236297458410263,
0.03060191497206688,
0.03529395908117294,
0.004303394351154566,
-0.06146764010190964,
-0.005770835094153881,
0.006835495587438345,
-0.0011871432652696967,
-0.04462151229381561,
-0.0060629104264080524,
-0.044169265776872635,
0.013520242646336555,
0.020011844113469124,
0.0030385213904082775,
-0.02753041684627533,
-0.022065790370106697,
0.01875874772667885,
0.007678743917495012,
0.004209176637232304,
0.04017443582415581,
0.03642456978559494,
0.013981909491121769,
0.022574566304683685,
0.014707385562360287,
-0.001746560912579298,
0.005059491377323866,
0.011004629544913769,
-0.05140518769621849,
-0.00468497583642602,
-0.0418703556060791,
0.08585118502378464,
-0.0017889589071273804,
-0.041229672729969025,
-0.03740443289279938,
0.008027349598705769,
-0.1563260406255722,
-0.025212662294507027,
-0.03399375453591347,
0.012936092913150787,
-0.017128780484199524,
-0.025909872725605965,
-0.0077541181817650795,
-0.025589533150196075,
-0.025269191712141037,
0.0008055614889599383,
-0.026814362034201622,
-0.034822870045900345,
0.008625632151961327,
0.000044238164264243096,
-0.062409818172454834,
-0.008616209961473942,
-0.00690615875646472,
-0.0010670156916603446,
-0.015969904139637947,
-0.01799558475613594,
-0.005577689036726952,
-0.02387477084994316,
0.012370786629617214,
-0.03324001282453537,
-0.02138742245733738,
0.0071558356285095215,
0.019748033955693245,
0.05875416845083237,
-0.01563072018325329,
-0.06014859303832054,
-0.004880477674305439,
-0.015837999060750008,
-0.02116129919886589,
0.016337351873517036,
0.04921933636069298,
0.03651878610253334,
0.0057802568189799786,
-0.035105522722005844,
-0.0032622884027659893,
-0.010778507217764854,
0.004289261531084776,
-0.03437062352895737,
0.037837836891412735,
0.011711262166500092,
0.0037828413769602776,
-0.020087217912077904,
-0.010580649599432945,
0.028830621391534805,
-0.004232731182128191,
-0.04594055935740471,
0.026814362034201622,
0.005525869317352772,
0.03237320855259895,
-0.013699255883693695,
0.00340125965885818,
0.043980829417705536,
0.0010640713153406978,
0.037687089294195175,
-0.016224291175603867,
-0.014245718717575073,
-0.012521535158157349,
-0.05155593529343605,
-0.04884246364235878,
0.010844459757208824,
-0.022687627002596855,
0.00612415187060833,
-0.028058037161827087,
0.011814901605248451,
0.0435662716627121,
-0.02794497460126877,
0.034427154809236526,
0.008107434958219528,
-0.040739741176366806,
-0.005045359022915363,
0.008701005950570107,
0.031939808279275894,
-0.05208355560898781,
-0.022367285564541817,
-0.023347150534391403,
-0.09994615614414215,
-0.019192149862647057,
0.005445783957839012,
0.035105522722005844,
0.03655647486448288,
0.01873048208653927,
-0.01075966376811266,
-0.004913453944027424,
-0.007193522993475199,
0.02146279625594616,
0.16913965344429016,
-0.06154301390051842,
0.028246471658349037,
0.01873990334570408,
0.02167007513344288,
0.00011526948946993798,
-0.005186685360968113,
0.008766958490014076,
0.017411435022950172,
-0.02174544893205166,
0.006289032753556967,
-0.008503149263560772,
0.010137826204299927,
0.004482408054172993,
0.016893237829208374,
0.04793797433376312,
-0.023460211232304573,
-0.0028265316504985094,
0.06297512352466583,
-0.028736405074596405,
0.022781845182180405,
-0.02076558582484722,
-0.011268438771367073,
0.01062775868922472,
-0.031902119517326355,
-0.03731021657586098,
-0.01075966376811266,
0.03612307459115982,
-0.03325885534286499,
0.04055130481719971,
0.008182808756828308,
0.03378647565841675,
-0.0007460865890607238,
-0.015385753475129604,
0.009511278942227364,
0.03131796792149544,
-0.01228599064052105,
0.04254872351884842,
0.01059007178992033,
-0.03265586122870445,
-0.016591740772128105,
-0.022593408823013306,
-0.029490146785974503,
-0.016855549067258835,
0.017006298527121544,
-0.023309463635087013,
-0.011108268983662128,
0.02406320534646511,
-0.026135995984077454,
-0.049973078072071075,
-0.0030644312500953674,
0.00024216898600570858,
-0.04571443796157837,
0.013209324330091476,
-0.01364272553473711,
-0.05543770641088486,
0.017599869519472122,
-0.005290324799716473,
0.0046991086564958096,
-0.005813233088701963,
-0.004856923595070839,
0.02153817005455494,
0.01805211417376995,
0.008215785026550293,
0.006180682219564915,
0.013755787163972855,
-0.03273123502731323,
0.02690858021378517,
0.0019962380174547434,
-0.0006147706299088895,
0.03365457057952881,
0.013341229408979416,
-0.025702593848109245,
-0.018890652805566788,
0.05475933849811554,
-0.00748088676482439,
0.02444007620215416,
0.04586518555879593,
-0.008733982220292091,
-0.023592116311192513,
-0.03670722246170044,
-0.031186064705252647,
-0.023648647591471672,
0.004736796021461487,
-0.004037229344248772,
0.019079087302088737,
-0.08796165883541107,
0.0014344648225232959,
-0.021801980212330818,
-0.04955852031707764,
0.005459916777908802,
0.00034065594081766903,
-0.007231209892779589,
-0.03725368529558182,
0.008408931083977222,
-0.025533001869916916,
0.013209324330091476,
-0.0242893286049366,
0.006081753876060247,
0.0213120486587286,
-0.00044576756772585213,
0.017703508958220482,
0.0005449906457215548,
-0.01499003916978836,
-0.014914664439857006,
-0.028811778873205185,
0.012775923125445843,
-0.021764293313026428,
0.0151219442486763,
0.006034644786268473,
-0.03092225454747677,
0.016544630751013756,
0.005295035894960165,
-0.016186604276299477,
0.026852048933506012,
-0.0006677680648863316,
-0.08027349412441254,
0.031920962035655975,
0.06855281442403793,
-0.011927963234484196,
-0.03853504732251167,
-0.02481694705784321,
0.01222003810107708,
-0.0004984706174582243,
0.026117151603102684,
-0.007122859358787537,
0.019003713503479958,
0.025777967646718025,
-0.006948556751012802,
-0.007815360091626644,
0.014914664439857006,
-0.022970279678702354,
-0.009120275266468525,
-0.02474157325923443,
0.03904382139444351,
-0.017675243318080902,
0.020332183688879013,
0.05419403314590454,
0.0006854339153505862,
0.06252288073301315,
0.010618336498737335,
-0.03866695240139961,
0.02174544893205166,
0.008677451871335506,
0.013482555747032166,
-0.014509528875350952,
0.017505651339888573,
-0.008460750803351402,
-0.016054699197411537,
0.00029354708385653794,
0.0006236035260371864,
0.014226875267922878,
0.03446483984589577,
-0.035180896520614624,
-0.03271239250898361,
-0.008352400735020638,
-0.0005797334015369415,
0.03683912754058838,
-0.005375120788812637,
-0.03710293769836426,
-0.01848551630973816,
-0.022574566304683685,
0.05246042460203171,
0.016667114570736885,
0.04266178235411644,
0.04571443796157837,
-0.021858511492609978,
-0.03092225454747677,
0.037894368171691895,
-0.055965326726436615,
-0.02468504197895527,
-0.041568856686353683,
-0.025872185826301575,
-0.000013194160601415206,
0.025231504812836647,
-0.040513619780540466,
-0.028868308290839195,
0.02756810374557972,
0.02082211524248123,
-0.03344729170203209,
0.05132981389760971,
0.028981370851397514,
0.0015581254847347736,
-0.011645309627056122,
0.00004880183405475691,
0.025401096791028976,
-0.0051584201864898205,
-0.03043232299387455,
0.019229836761951447,
-0.04032518342137337,
0.03307041898369789,
0.06406804919242859,
0.028510281816124916,
-0.004381123930215836,
0.004979406483471394,
-0.016827285289764404,
-0.019729189574718475,
0.05400559678673744,
0.012568643316626549,
-0.010477010160684586,
-0.025174973532557487,
-0.01235194317996502,
0.03088456764817238,
-0.03644341230392456,
0.03702756389975548,
-0.04533756524324417,
-0.028491437435150146,
-0.03259932994842529,
0.0009922303725033998,
-0.009487723931670189,
0.03144987300038338,
-0.0180992241948843,
0.0030338105279952288,
-0.0186174213886261,
0.038026269525289536,
-0.009826907888054848,
0.004114958923310041,
-0.038063958287239075,
-0.07997199892997742,
-0.0034978329204022884,
-0.00932284351438284,
0.017383169382810593,
0.04454613849520683,
-0.07292451709508896,
-0.01851378194987774,
0.02999892085790634,
0.01571551524102688,
-0.029358241707086563,
0.02082211524248123,
-0.007151124998927116,
0.004074916243553162,
-0.044659197330474854,
0.02095402032136917,
-0.019210992380976677,
-0.0156872496008873,
0.007796516176313162,
0.01841956377029419,
0.03135565668344498,
0.025419941172003746,
-0.022649940103292465,
-0.0011947985040023923,
-0.03557661175727844,
-0.0030243888031691313,
0.015319800935685635,
-0.03244858235120773,
0.008267604745924473,
-0.01052411925047636,
0.019295789301395416,
0.022009259089827538,
0.049973078072071075,
-0.008583234623074532,
0.03595348075032234,
0.02743620052933693,
0.019022557884454727,
-0.01236136443912983,
-0.014434154145419598,
-0.012380207888782024,
0.02724776417016983,
-0.017194733023643494,
0.02116129919886589,
-0.06014859303832054,
0.03322116658091545,
-0.02756810374557972,
0.01836303249001503,
-0.05234736576676369,
0.038572732359170914,
0.00675069959834218,
-0.010043608956038952,
-0.025344565510749817,
-0.0011806658003479242,
0.026475178077816963,
0.013727521523833275,
-0.038252394646406174,
-0.006590529344975948,
0.03561429679393768,
0.004336370620876551,
0.017430277541279793,
-0.015951059758663177,
0.0028477306477725506,
0.02178313583135605,
-0.05784967914223671,
0.037875521928071976,
-0.019823407754302025,
0.06994723528623581,
-0.03729137405753136,
0.01197507232427597,
0.009172094985842705,
0.00756097212433815,
-0.004899321589618921,
-0.02161354385316372,
0.014697964303195477,
-0.02476041577756405,
-0.01875874772667885,
0.056116074323654175,
0.014876977540552616,
0.0011918541276827455,
0.025156131014227867,
-0.011758371256291866,
-0.011701840907335281,
-0.011428609490394592,
-0.009958812966942787,
0.032128240913152695,
-0.09037363529205322,
-0.019898781552910805,
-0.05882954224944115,
0.005478760227560997,
0.019446536898612976,
0.03235436603426933,
-0.025891028344631195,
0.016648270189762115,
-0.03282545506954193,
-0.004077271558344364,
0.05095294117927551,
-0.023215245455503464,
0.03299504518508911,
0.0121917724609375,
0.05264886096119881,
-0.020577149465680122,
-0.0068307844921946526,
0.007061617914587259,
0.08464519679546356,
0.001680608605965972,
-0.049860015511512756,
-0.00545520568266511,
-0.029622050002217293,
-0.020709054544568062,
0.01801442727446556,
0.06636696308851242,
0.0044541428796947,
-0.017119359225034714,
-0.034615591168403625,
0.06485947966575623,
-0.03026273101568222,
-0.06696995347738266,
0.061882197856903076,
-0.0006860227440483868,
0.007240631617605686,
-0.010194357484579086,
0.036292664706707,
-0.0008915351354517043,
-0.0478249154984951,
-0.03744212165474892,
0.02715354599058628,
-0.0024873476941138506,
-0.038158174604177475,
0.0003789319016505033,
-0.014424732886254787,
-0.012502691708505154,
-0.025250349193811417,
0.007113437633961439,
0.020200278609991074,
0.0008673918782733381,
-0.028642186895012856,
-0.005808522459119558,
-0.006293743383139372,
-0.03896844759583473,
-0.04786260053515434,
-0.010976363904774189,
-0.025288036093115807,
0.014782760292291641,
-0.02444007620215416,
0.016148917376995087,
0.029678581282496452,
0.009883438237011433,
-0.03866695240139961,
0.005860342178493738,
0.0032787765376269817,
-0.016459835693240166,
0.014584902673959732,
0.022291911765933037,
-0.012380207888782024,
-0.032260145992040634,
0.0072830296121537685,
-0.022857218980789185,
0.0053609879687428474,
0.007075750734657049,
-0.008248761296272278,
0.004710886161774397,
0.026249056681990623,
-0.006510444451123476,
-0.05751049518585205,
-0.004308104980736971,
0.015357487834990025,
-0.025664906948804855,
-0.014010175131261349,
0.004682620521634817,
-0.025589533150196075,
-0.03697103261947632,
0.017006298527121544,
0.005761413369327784,
0.0008750470587983727,
-0.03374878689646721,
-0.04017443582415581,
0.05193280801177025,
-0.10122751444578171,
0.00901192519813776,
-0.003575562499463558,
-0.02138742245733738,
0.01795789785683155,
-0.017609290778636932,
0.010307418182492256,
-0.02150048315525055,
0.0039547886699438095,
0.03612307459115982,
0.009506567381322384,
0.05099062994122505,
0.0017312505515292287,
0.007075750734657049,
-0.005007671657949686,
0.028039192780852318,
-0.06037471443414688,
0.01567782834172249,
-0.001957372995093465,
0.008677451871335506,
0.023629803210496902,
-0.014518950134515762,
0.0007790627423673868,
0.02178313583135605,
0.02713470347225666,
0.008686874061822891,
0.031073004007339478,
0.02415742352604866,
-0.044131580740213394,
0.0018949538934975863,
0.06632927060127258,
-0.01847609505057335,
0.016026433557271957,
0.06372886151075363,
0.01079735066741705,
-0.0156872496008873,
-0.0072830296121537685,
-0.05852804705500603,
0.04055130481719971,
0.009304000064730644,
0.04236028715968132,
0.01506541296839714,
-0.011635888367891312,
0.016751909628510475,
-0.003087985794991255,
-0.019616128876805305,
0.011061159893870354,
-0.017562182620167732,
-0.00013852948904968798,
0.009633761830627918,
-0.0008037948864512146,
0.020049531012773514,
-0.0022942014038562775,
-0.02091633342206478,
0.009092009626328945,
-0.02142510935664177,
-0.029056744650006294,
-0.03934532031416893,
0.06097770854830742,
0.008022638969123363,
-0.031958650797605515,
-0.02148164063692093,
-0.0242893286049366,
0.0027935553807765245,
-0.0009692647727206349,
-0.00541751878336072,
-0.035067833960056305,
-0.0028477306477725506,
0.017081672325730324,
0.019192149862647057,
-0.0011735995067283511,
0.03653763234615326,
0.032052867114543915,
0.006873182486742735,
0.029791641980409622,
-0.01862684264779091,
0.032109398394823074,
-0.001487462199293077,
0.0016688313335180283,
0.013944222591817379,
0.03725368529558182,
-0.01232367753982544,
-0.028416063636541367,
0.023252932354807854,
0.02430817112326622,
0.004155001603066921,
-0.01796731911599636,
0.040664367377758026,
-0.028303002938628197,
-0.007951975800096989,
-0.005931005347520113,
0.008074458688497543,
-0.041229672729969025,
-0.0213120486587286,
-0.019992999732494354,
0.046995796263217926,
-0.04507375508546829,
-0.031223751604557037,
-0.0037687087897211313,
-0.013793474063277245,
0.00928044505417347,
0.004077271558344364,
-0.016544630751013756,
-0.0024944141041487455,
-0.0028453751001507044,
-0.00535156624391675,
0.06045008823275566,
-0.01820286363363266,
0.01238963007926941,
0.007028641644865274,
0.007707009557634592,
-0.0059404270723462105,
-0.008262894116342068,
0.027963818982243538,
-0.019267523661255836,
-0.025156131014227867,
0.05264886096119881,
-0.016280822455883026,
-0.014368202537298203,
-0.04251103475689888,
0.02704048529267311,
0.038346610963344574,
-0.02116129919886589,
-0.043679334223270416,
-0.0028948395047336817,
-0.03325885534286499,
-0.020068373531103134,
-0.0047179521061480045,
0.007980240508913994,
0.044320013374090195,
-0.02990470454096794,
-0.01353908609598875,
-0.013520242646336555,
0.027888445183634758,
0.006651770789176226,
0.014829869382083416,
0.007226498797535896,
0.0011930319014936686,
0.0031986916437745094,
-0.011390922591090202,
0.011626466177403927,
0.008705717511475086,
0.0010087185073643923,
-0.006289032753556967,
-0.028171097859740257,
-0.002078678458929062,
0.03968450427055359,
-0.02085980214178562,
0.05536233261227608,
0.02743620052933693,
-0.0022836020216345787,
0.053214166313409805,
-0.01197507232427597,
-0.012653439305722713,
-0.016572896391153336,
-0.04454613849520683,
-0.0610530823469162,
0.025457628071308136,
-0.011513405479490757,
0.0354447066783905,
0.07756002247333527,
0.0011129467748105526,
-0.031902119517326355,
0.011164799332618713,
-0.04209647700190544,
-0.06323893368244171,
-0.0017889589071273804,
0.008710428141057491,
0.011758371256291866,
0.006939135026186705,
0.04545062780380249,
-0.008069748058915138,
-0.0008208718500100076,
0.05999784171581268,
0.0012000981951132417,
-0.03386184945702553,
0.05065144598484039,
-0.009826907888054848,
0.05475933849811554,
0.007551549933850765,
0.002770000835880637,
0.03088456764817238,
0.025947559624910355,
0.016638848930597305,
0.04556369036436081,
-0.007212366443127394,
0.0063926721923053265,
0.020011844113469124,
0.004974695388227701,
-0.03878001123666763,
0.006859050132334232,
-0.031393345445394516,
-0.02172660641372204,
-0.016196025535464287,
-0.03529395908117294,
0.037592869251966476,
0.008074458688497543,
0.03288198262453079,
-0.019154462963342667,
0.020840959623456,
-0.009289867244660854,
-0.023837082087993622,
0.03126144036650658,
0.01575320214033127,
-0.023347150534391403,
-0.018749326467514038,
0.007725853007286787,
-0.061882197856903076,
-0.07134165614843369,
0.044583823531866074,
0.01049585361033678,
-0.025438783690333366,
0.04288790374994278,
-0.02125551737844944,
0.020294496789574623,
-0.0213120486587286,
0.005181974731385708,
-0.008832911029458046,
0.004550715908408165,
0.02104823850095272,
-0.011164799332618713,
-0.005554134491831064,
0.03369225561618805,
0.0008644475601613522,
0.016318509355187416,
-0.05739743262529373,
0.04307634010910988,
0.029320554807782173,
-0.010062452405691147,
-0.00028545025270432234,
0.04601593315601349,
0.04560137540102005,
-0.025891028344631195,
0.01823112927377224,
0.03665069118142128,
-0.01387827005237341,
-0.008333557285368443,
0.004383479245007038,
0.008653897792100906,
-0.025740280747413635,
-0.0004354625125415623,
-0.011890276335179806,
0.06003553047776222,
0.0021081215236335993
],
"dim": 1024,
"provider": "dashscope",
"model": "text-embedding-v3",
"embedded_at": "2026-06-17T06:52:04.441034",
"char_count": 2835,
"publish_time": "2026-06-16T06:48:00"
}