Core Viewpoint - The number of listed companies conducting private placements has significantly increased in 2023, with a total financing scale reaching 84.939 billion yuan, a 359% increase compared to the same period last year, indicating a robust recovery in the A-share market and a growing interest from public funds in high-quality projects [1][3]. Group 1: Market Activity - As of February 5, 2023, 12 listed companies have completed private placements, doubling the number from the same period last year [1]. - The total amount raised through these placements has reached 84.939 billion yuan, reflecting a substantial increase in market activity [1]. - Public funds such as E Fund, Caitong Fund, and Nord Fund have actively participated in these private placements, indicating a competitive environment for high-quality projects [1][2]. Group 2: Fund Participation - E Fund has emerged as a major player in the private placement of companies like Beiqi Blue Valley and Megmeet, with significant allocations across multiple funds [2]. - Other public fund companies, including Guotou Ruijin Fund and Huatai Asset Management, have also participated in various private placements, showcasing a broad interest in the market [2]. - The participation of multiple funds in projects like Megmeet and Beiqi Blue Valley highlights the trend of increasing collaboration among public funds in private placements [2]. Group 3: Industry Focus - The companies involved in these private placements predominantly exhibit "hard technology" characteristics, focusing on sectors such as electric vehicles, smart appliances, and electronic information technology [3]. - Approximately 70% of the financing from private placements is directed towards new productive forces, aligning with national strategic directions for industrial upgrades [3]. - The current trend indicates a healthy market environment characterized by stable volume and improved quality of projects, with a focus on high-quality companies leveraging capital markets to strengthen their core businesses [3][4]. Group 4: Investment Challenges - The increasing competition for high-quality private placement projects has raised the bar for fund managers' research and pricing capabilities [4]. - The disparity between a restrained supply of projects and a surging demand from various capital sources, including banks and insurance funds, has intensified the competition [4]. - The average issuance discount for private placements has risen, necessitating a greater emphasis on pricing strategies and research capabilities for successful investment [4].

据文远知行披露的数据，截至1月12日，其全球Robotaxi部署总数已达1023辆。目前，文远知行的 Robotaxi已在广州、北京及阿布扎比实现纯无人商业化运营。其中，阿布扎比车队即将实现单车盈亏平 衡。小马智行方面披露，其Robotaxi车队规模于2025年达到1159辆，在北京、上海、广州、深圳实现全 无人商业化运营的同时，第七代Robotaxi已在广州实现单车盈利。 近日，谷歌母公司Alphabet旗下自动驾驶公司Waymo宣布完成160亿美元（约合人民币1110亿元）融 资，投后估值达到1260亿美元（约合人民币8744亿元），成为近年来自动驾驶领域规模最大的单笔融资 之一。 Waymo的巨额融资被业内视为自动驾驶市场竞速"升温"的重要信号。在国内市场，Robotaxi（自动驾驶 出租车）赛道也在加速"起量"，国内两家自动驾驶龙头企业——小马智行与文远知行顺利完成"美股+港 股"双重上市，并于近期先后宣布Robotaxi车队规模迈过"千辆"门槛。 上海证券报记者了解到，当前Robotaxi行业呈现"冷热并存"的特征：一方面，从资本投入到运营扩张， Robotaxi正从小范围试点走向更大规模的商业化探 ...

当前，围绕科学技术、产业发展、消费提质、民生福祉、治理能力等五大重点领域的发展需要，我国人 工智能高价值应用场景呈现百花齐放、加速落地的良好态势。"十五五"及未来一段时期，人工智能将深 度融入经济社会发展的关键环节，上述五大高价值场景将成为释放人工智能"倍增效应"的关键突破口。 为此，应加快构建以场景为驱动的创新发展生态，推动人工智能从技术突破迈向价值创造与规模化应 用，全面赋能高质量发展。 一、高价值应用场景是人工智能迈入"价值实现期"的关键抓手 人工智能的发展已从"技术突破期"迈入"价值实现期"，其核心瓶颈不再是算法或算力的先进性，而在于 能否在真实世界中持续创造出可观的经济与社会价值。高价值应用场景正是推动技术成果转化为现实生 产力、实现价值落地的关键抓手。 （一）场景是人工智能落地的关键枢纽 □ 中国宏观经济研究院 徐 策 中研智库 左登基 □ 人工智能的发展已从"技术突破期"迈入"价值实现期"，其核心瓶颈不再是算法或算力的先进性，而在 于能否在真实世界中持续创造出可观的经济与社会价值。高价值应用场景正是推动技术成果转化为现实 生产力、实现价值落地的关键抓手 □ 当前，高价值应用场景正从单点突破走向系 ...

孟浩 ◎记者 操子怡 江苏南通，春节前夕，在一间忙碌的智能制造工厂里，钢板、木料在传送带上缓缓前行。机械臂在空中 精准摆动，根据数字化模型完成抓取、装配与加工——这些看似重复而复杂的动作，正由一套"机器人 大脑"在背后实时指挥。 这套"机器人大脑"，始于十年前孟浩的"让工业机器人像用电脑一样简单"的想法。当时，他刚满30岁， 从高校实验室出来，在上海创立大界机器人科技有限公司（以下简称"大界"）。 十年后的今天，大界已成为一家拥有150名员工、服务全球数百家头部客户的创业公司。公司通过自研 工业软件平台RoBIM，为船舶、电力、建筑、重工等行业提供"手—眼—脑"协同的智能制造系统，覆盖 切割、打磨、焊接、装配等复杂工艺。 啃最难的场景 创业早期，大界的切入点并不是机器人本体，而是工业软件。团队希望做出类似Windows操作系统或手 机App那样的交互方式，让一线工人可以更容易地控制复杂设备。 "我们那时候想的事情很简单，就是能不能让工业机器人用起来更像普通人用电脑一样简单。"当被问及 创业的初衷，大界创始人孟浩的回答简单直接。 2016年，中国机器人赛道创业远没有今天火热。但当时，孟浩预判，中国未来工业领域对 ...

高勇认为，重庆正迎来历史性的重要机遇，其发展动能正从传统产业向战略性新兴产业、未来产业加速 转变。上市公司作为战略性新兴产业的核心载体与创新引擎，若选择布局重庆、落户永川，将高度契合 当地政策导向。 "企业投资重庆，差的不是机遇、资金，差的是机会和信息。"高勇说，重咨集团既要当好"红娘"，也要 做好"伴娘"。一方面，公司积极为地方政府谋划产业发展方向，精准对接具体项目需求；另一方面，公 司着力构建全链条投资服务能力，覆盖从项目策划包装、资金筹措、招投标组织，到工程监理、造价管 控、跟踪审计的各个环节。 高勇 ◎林玉莲 记者 徐锐 2月5日至6日，上市公司重庆行暨重庆市"四企"联动发展对接活动在重庆永川区举行。会上，重庆国际 投资咨询集团有限公司（下称"重咨集团"）董事长高勇在主旨演讲环节表示，作为正在建设中的重庆城 市副中心、渝西国际开放枢纽，永川肩负着重大战略使命，充满项目投资机遇。重咨集团愿意当好供给 方、服务方，与永川建立全方位、深层次的服务协作关系。 "从2025年重庆投资完成情况来看，政府投资与企业投资大致各占半壁江山。企业投资的稳步增长，充 分表明重庆产业正进入蓬勃发展、提速升级的新阶段。"高勇说 ...

周恒 制图 ◎记者 刘怡鹤 10万颗、20万颗、100万颗……这些数字不是天上星星的数量，而是全球计划发射的卫星数量。 尽管这些卫星大多仍处于申报阶段，却一次次刷新了人们对商业航天产业的认识和想象。为何卫星部署 规模呈现爆发式增长？近地轨道空间能否容纳？从普通人的生活到地球生态，大量卫星又将带来哪些改 变？ 上海证券报记者采访专家了解到，在各国锁定太空资源和卫星技术普及化的趋势下，大规模卫星申报和 部署成为必然趋势，奠定广阔卫星应用的基础。未来，"+卫星""卫星+"将如同"互联网+""+互联网"，培 育出繁荣的服务生态。不过，在部署更多卫星的同时，既要打通卫星应用"最后一公里"的商业化堵点， 也要关注尚未被充分认识的潜在影响。 卫星申请数量屡创新高 锁定稀缺太空资源 当地时间2月4日，美国联邦通信委员会（FCC）主席布伦丹·卡尔（Brendan Carr）发布SpaceX轨道数据 中心受理及征求意见公告。他在社交媒体平台上表示："FCC欢迎SpaceX公司提交的轨道数据中心申 请，并开始就此征求意见。" 1月30日，SpaceX向FCC提交了上述申请，内容为"一个拥有前所未有的计算能力的卫星星座，可为先进 的 ...

童继生 ◎记者 曾庆怡 2月5日至6日，上市公司重庆行暨重庆市"四企"联动发展对接活动在重庆市永川区举行。会上，中国对 外贸易经济合作企业协会会长童继生发表了题为《因地制宜发展新质生产力，做好山地经济大文章》的 演讲。他表示，永川作为重庆的重要组成部分，可以突出自身特色，做好山地经济、山城经济上的文 章，并且要放眼整个世界来进行自身的枢纽定位，这样才可以捅破现有的发展天花板。 童继生介绍，经过多年发展，中国对外贸易经济合作企业协会现有四大功能、两大任务。四大功能分别 是：服务国家战略，对标国际行业先进，服务会员企业，培育和发现中国的跨国公司和跨国企业家；两 大任务分别是：帮助中国企业走出国门，到海外更好地发展，获取更大的盈利机会和帮助在境外遇困的 中国企业减损止损。 "永川一定要放眼世界才能实现更大的突破。"童继生说，当战略敲定，永川区要逐一瞄准目标市场并进 行精准"打击"，不仅叠加战略优势，还要研究叠加战术优势。尤其是要研究如何形成战术优势叠加，保 证打一场"战斗"就获取一场胜利，缴获一批"武器"。 他建议，永川区可以对标瑞士，研究这个山区地貌占比约90%的国家是如何发展经济的。因为永川 有"大城市、大农村 ...

◎林玉莲 记者 李少鹏 曾庆怡 永川，雄踞成渝腹地，厚植巴渝文脉，智造新潮在此激荡奔涌。 近年来，永川锚定重庆城市副中心定位加速蝶变。一座兼具产业硬核与创新潜能的现代化新城，正在成 渝地区双城经济圈强势崛起。 2月5日至6日，上市公司重庆行暨重庆市"四企"联动发展对接活动在重庆永川区举行。来自全国多地的 上市公司、优强企业、投资机构和重庆市"四企"联动协同发展联盟代表约300人参加活动，共商发展大 计，共觅合作商机。 本次活动以"相约永川·共创未来"为主题，由重庆市经济和信息化委员会、重庆市国有资产监督管理委 员会指导，重庆市永川区人民政府、重庆国际投资咨询集团有限公司联合主办，新华社重庆分社、上海 证券报社支持。 上市公司重庆行暨重庆市"四企"联动发展对接活动现场 并邀请企业家们检验永川的服务水平和服务能力。 上海证券报社党委书记、董事长叶国标在致辞时表示，重庆锚定"33618"世界级先进制造业集群建设目 标，正以开放包容的姿态汇聚全球资源。当前，从中央到地方都在加紧培育新质生产力，着力构建"资 本+科创+产业"的新生态体系和新发展逻辑，以资本力量、金融活水牵引科技创新，以科技创新引领产 业进步，从而实现经 ...

Group 1 - The total amount of cornerstone investments in Hong Kong IPOs by institutions has exceeded 30 billion HKD as of February 6 this year, with significant participation from top domestic private equity firms and international funds [1][2] - Notable cornerstone investors in recent IPOs include Tencent,淡水泉, and 泰康人寿, with the IPO of Hunan Mingming Hen Mang Commercial Chain Co., Ltd. raising 3.336 billion HKD at an issue price of 236.6 HKD per share [2] - The influx of large overseas institutions into Hong Kong IPOs is driven by optimism about growth sectors such as AI, biomedicine, and semiconductors, as they seek to capitalize on the potential growth of quality new economy companies [3] Group 2 - The Hong Kong market is expected to see continued opportunities in internet, innovative pharmaceuticals, and high-dividend sectors by 2026, supported by a favorable valuation environment and the influx of risk-averse capital [4] - The market is currently viewed as a global valuation low point, with sufficient momentum for valuation recovery, making it an attractive destination for foreign capital seeking to invest in quality Chinese assets [4] - The rise of artificial intelligence is anticipated to benefit related companies, with the market yet to fully price in these opportunities, indicating potential for continued investment interest [4]

Group 1 - The core viewpoint of the articles highlights a surge in the issuance of public funds, particularly equity funds, ahead of the Spring Festival, with 43 new funds launched during the period from February 9 to the end of February [1] - Among the new funds, 33 are equity funds, accounting for nearly 80% of the total, with a significant number being actively managed funds [1] - The current market sentiment and continuous funding support are creating a favorable environment for the issuance of equity funds, driven by structural market trends and a shift in investor preferences from traditional savings to equity investments [1] Group 2 - As of February 8, 2023, the issuance momentum for equity funds has been strong, with notable funds like Guangfa Research Smart Mixed Fund raising over 7.2 billion yuan and Huabao Advantage Industry Mixed Fund nearly 5.8 billion yuan [2] - The issuance of configuration products, particularly FOFs, has also increased, with rapid fundraising success attributed to heightened market volatility [2] - Analysts suggest that the Spring Festival effect may enhance market performance, with expectations of a sustained spring rally due to favorable policy outlooks and increased consumer spending [2] Group 3 - Market analysts believe that the short-term fluctuations before the Spring Festival do not alter the positive outlook for the market post-holiday, with many institutions favoring holding positions through the holiday [3] - Three key factors are expected to support corporate profit improvement: expansionary fiscal policies in major economies, easing local government debt pressures, and a potential bottoming out of the real estate market in China [3] - Improved demand conditions are anticipated to enhance profitability in sectors with favorable supply-demand dynamics, particularly in the context of low manufacturing inventory levels [3]