值得一提的是，近年来北芯生命持续加大研发投入，搭建了微纳器件、介入导管、高性能医疗硬件及算 法软件四大技术平台，覆盖从核心传感器封装、导管加工到图像分析算法全链条能力，是国内唯一掌握 60MHz高频微型超声换能器与微型MEMS压力传感器完整设计及封装技术的企业。 2025年，公司推出首个国产冠脉功能学一体化解决方案、国产首款外周IVUS导管，并在电生理领域完 成脉冲电场消融（PFA）"single-shot"术式的关键突破，研究成果入选2025年欧洲心脏病学会大会突破 性临床研究专场。截至目前，公司累计申请专利超360项，已获得授权180余项，其中发明专利80余项、 PCT国际专利申请14项。 本报讯 （记者王镜茹）7月18日，上交所上市委将审议深圳北芯生命科技股份有限公司（以下简称"北 芯生命"）科创板IPO申请。据悉，北芯生命成立于2015年，是一家专注于心血管精准介入领域的创新 医疗（002173）器械企业，致力于通过高性能有源介入设备，为冠心病、外周血管疾病、房颤等重大疾 病提供智能化精准介入解决方案。 公司深耕冠脉功能学与影像学两大领域，自主研发突破多项"卡脖子"技术，先后推出中国首个自主研发 获批 ...

Core Insights - The Chinese power battery industry is experiencing significant growth, with a total installed capacity of 299.6 GWh in the first half of the year, representing a year-on-year increase of 47.3% [1] - Lithium iron phosphate (LFP) batteries have become the dominant force in the market, accounting for 81.4% of total installed capacity, with a year-on-year growth of 73.0% [1][4] - The overall market for power batteries is stabilizing, with leading companies like CATL and BYD maintaining a strong market share [3] Production and Sales Growth - The cumulative production of power batteries in China reached 697.3 GWh in the first half of the year, marking a year-on-year increase of 60.4% [2] - Cumulative sales of power batteries were 485.5 GWh, reflecting a year-on-year growth of 51.6% [2] - CATL led the market with an installed capacity of 128.6 GWh, representing 43.05% of the total, while BYD followed with 70.37 GWh, or 23.55% [2] Market Dynamics and Innovations - The market concentration remains high, with CATL and BYD together holding a combined market share of 66.4% [3] - CATL has introduced several new technologies, including dual-core batteries and sodium-ion batteries, which aim to enhance performance and safety [3] - The trend towards energy transition is prompting leading battery companies to innovate not just in products but also in business models, such as establishing battery swapping networks [3] Stability of Lithium Iron Phosphate Batteries - LFP batteries continue to dominate the market due to their performance improvements and cost-effectiveness, with a total installed capacity of 244.0 GWh in the first half of the year [4] - In June, LFP battery installations reached 47.4 GWh, accounting for 81.5% of total installations, with a year-on-year increase of 49.7% [4] - The demand for LFP batteries is expected to grow in both the electric vehicle and energy storage sectors, ensuring their continued market leadership [4]

Group 1 - The core viewpoint of the articles highlights a significant recovery in the second-hand housing market across major cities in China during the first half of 2025, driven by favorable government policies aimed at stabilizing the real estate market [1][2][3] Group 2 - In Beijing, the second-hand housing market saw a total of 90,035 transactions in the first half of 2025, marking a 20.4% year-on-year increase, the highest for the same period since 2022 [1] - Shanghai's housing market also performed well, with a total transaction area of 13.11 million square meters, a 17% increase year-on-year, and second-hand housing transactions reaching 9.85 million square meters (approximately 116,000 units), up 24% year-on-year [1] - Guangzhou's second-hand residential transactions reached 56,613 units, a 12.98% increase year-on-year, while the transaction area was 569.08 million square meters, up 13.31% year-on-year [2] - Shenzhen led the first-tier cities with a 30.7% year-on-year increase in second-hand housing transactions, totaling 35,106 units in the first half of 2025 [2] - New first-tier cities like Hangzhou also showed strong performance, with 48,926 second-hand housing transactions, the highest for the same period in nearly four years [2] Group 3 - The demand for second-hand housing remains robust in first-tier and strong second-tier cities due to their population attraction and industrial support, with high trading activity expected to continue [3] - There is potential for further policy optimization, which may support the ongoing recovery of the real estate market in the second half of 2025 [3]

Core Viewpoint - Spring Autumn Electronics is expected to achieve a significant increase in net profit for the first half of 2025, driven by its strategic business layout and growth in both notebook computer structural components and magnesium alloy applications in the new energy vehicle sector [1] Group 1: Financial Performance - The company's net profit for the first half of 2025 is projected to be between 90 million and 110 million yuan, representing a year-on-year growth of 236.05% to 310.72% [1] - The performance is attributed to the successful implementation of the "one body, two wings" strategy, which focuses on dual growth engines [1] Group 2: Notebook Computer Structural Components - The rapid penetration of AI PCs is identified as a core growth driver for the notebook computer structural components business [1] - The global PC market is expected to see a shipment volume of 68.4 million units in Q2 2025, with a year-on-year growth of 6.5% [1] - Canalys forecasts that global AI PC shipments will exceed 100 million units by 2025, accounting for 40% of total PC shipments, with a compound annual growth rate (CAGR) of 44% from 2024 to 2028 [1][2] Group 3: Magnesium Alloy Applications in New Energy Vehicles - The magnesium alloy application business has significantly contributed to the company's performance, with China's new energy vehicle production and sales exceeding 6.968 million units in the first half of the year, reflecting a year-on-year growth of over 40% [3] - Magnesium alloys are favored for their lightweight properties, which enhance the performance of new energy vehicles, and the company has established partnerships with several major manufacturers [3] - The company possesses advanced "semi-solid injection molding" technology, which provides advantages in precision, efficiency, and yield in magnesium alloy production [3] Group 4: Industry Outlook and Challenges - The new energy vehicle industry is expected to continue its positive trajectory, supported by government policies and technological advancements [4] - The application of magnesium alloys is anticipated to expand into more critical areas within new energy vehicles, benefiting the company [4] - However, the company faces challenges such as increasing market competition in the AI PC structural components sector and potential fluctuations in raw material prices for magnesium alloys [4]

Core Viewpoint - NIO's sub-brand, Ladao, launched the L90 model with a starting price of 279,900 yuan for purchase and 193,900 yuan for battery rental, aiming to capture market share in the competitive electric SUV segment [1][2] Group 1: Product Launch and Pricing Strategy - The L90's pricing strategy aims to bring the price of large electric SUVs below 200,000 yuan, which has garnered significant industry attention [1] - NIO's CEO, Li Bin, emphasized that the L90 has a gross margin despite its low price, attributing this to technological innovation and supply chain efficiency [2] - The L90 features lightweight technology, with a 340 kW rear motor weighing only 79 kg, which reduces energy consumption and material usage [2] Group 2: Market Positioning and Consumer Insights - The L90 addresses consumer pain points such as space limitations and charging anxiety, offering features that enhance user experience [3] - NIO's strategy includes a rapid response to consumer feedback, ensuring that customers can see and experience the vehicle shortly after its announcement [3] Group 3: Competitive Landscape and Internal Collaboration - The electric SUV market is becoming increasingly competitive, with multiple new models launched in July, including the L90, XPeng G7, and others [4] - NIO's internal collaboration is crucial for success, with shared technology and systems between Ladao and NIO vehicles [4] Group 4: Financial Performance and Future Outlook - NIO is focused on achieving profitability in Q4, with a strong emphasis on user value creation and return on investment [5] - The company has invested over 60 billion yuan in R&D, with a significant portion allocated to foundational technologies [5] - NIO plans to expand its product line under the Ladao brand while maintaining a step-by-step approach to growth [5]

Core Viewpoint - A-share listed banks are actively distributing dividends, reflecting strong operational performance and compliance with regulatory requirements for cash dividends [1][2] Group 1: Dividend Distribution - As of July 13, 35 out of 42 A-share listed banks have completed their 2024 annual dividend distributions, including major state-owned banks and several joint-stock and city commercial banks [1] - The trend of high dividend payouts is driven by the implementation of new policies aimed at enhancing cash dividends and improving predictability in dividend distributions [1][2] Group 2: Dividend Yield - Approximately half of the A-share listed banks have a dividend yield exceeding 4%, with six banks, including China Merchants Bank and Postal Savings Bank, surpassing 7% [2] - The high dividend yield is attributed to the banks' stable long-term operations and a lower risk appetite among investors who prioritize steady returns [2] Group 3: Market Performance - The banking sector has seen a cumulative increase of 19.34% year-to-date, driven by the appeal of high dividend yields and increased cash dividend distributions [2] - Several banks are planning mid-term dividend proposals for 2025, further enhancing their investment attractiveness [2] Group 4: Future Outlook - The current market environment is expected to support a steady upward trend in bank stocks, bolstered by strong operational performance and high dividend levels [3] - The defensive nature of bank stocks, combined with favorable macroeconomic policies, suggests continued investment value despite external challenges [3]

近年来，为满足日益增长的铜产品需求，全球铜矿产量呈现增长的趋势，但是铜矿品位的下降也是一个 不争的事实，在此背景下催生了矿山对耐磨备件的需求。 瞄准耐磨备件市场广阔前景，江西耐普矿机（300818）股份有限公司(以下简称"耐普矿机")持续加大高 端产品的布局。7月12日，耐普矿机对外表示，公司锻造复合衬板具有耐磨性更好、提升磨机台效、降 低能源消耗、减少衬板更换安装时间等方面具有显著优势。公司第一套锻造复合衬板已在西藏知不拉 7.5米半自磨机全套使用，根据使用效果显示，较原铸造金属衬板提升近一倍寿命，同时处理矿量、设 备台效均显著提升，而用电单耗、钢球单耗亦有效降低。 耐磨备件市场前景广阔 资料显示，耐普矿机是一家集研发、生产、销售和服务于一体的重型矿山选矿装备及其新材料耐磨备件 专业制造企业，为客户提供重型选矿装备优化，选矿工艺流程设计、咨询和优化等增值服务，尤其是耐 磨备件产品为耐普矿机的主要产品。 据了解，目前全球铜矿普遍面临开采年限过长的问题，全球铜矿品位呈现逐渐下降趋势，以Bloomberg 收录的18家海外主要矿企铜矿开采品位的均值看，矿石品位开采下滑明显。然而，与铜资源品位下降相 反的是，为满足 ...

"冰·JOYS一直在行业内引领着白酒冰镇、愉悦畅饮的风潮，打破白酒在年轻人心中的刻板印象。"张彪 为揭幕式致辞时表示，"今天，我们在798，以结合艺术展览、周边产品、餐酒融合的全新形式，打 造'灵感发酵局'。希望在当下快节奏、高压力的环境下，为大家提供一个舒适、悦己、释放压力的生活 场所。" "国窖1573不仅是中国白酒文化的典范，更是全球范围内最坚定支持当代艺术发展的品牌之一。"尤洋表 示，"在这个夏天，让我们共同感受艺术的温度，品味生活的诗意。愿每一位到场的朋友，都能在此收 获灵感、友谊与难忘的回忆。" 高伟光表示，"作为演员，我觉得灵感是'角色转换'，冰·JOYS也是'一次精彩的角色转换'，它像一把钥 匙，解锁了国窖1573更纯粹、更灵动、层次更丰富的一面——在经典的厚重与浓烈之上，焕发出更有活 力的时尚气质，让这股新潮的'冰饮旋风'吹向了年轻人的夏日生活。" 此次国窖1573冰·JOYS"灵感发酵局"邀请八位艺术家成为轮值主理人，推出"多巴胺灵感周""精神解码灵 感周""纯粹东方灵感周""重塑JOYS灵感周""明日创想灵感周""秘密狂欢灵感周"六大主题灵感周活动， 内容涵盖展览、艺术沙龙、狂欢派对、特 ...

Core Viewpoint - The acquisition of 100% equity in Haowei Cloud Computing Technology Co., Ltd. by Qingdao Degute Energy Equipment Co., Ltd. is aimed at enhancing business synergy and transforming Degute from a traditional equipment supplier to an energy management solution provider [1][5]. Group 1: Financial Performance - Degute achieved a revenue of 509 million yuan in 2024, representing a year-on-year growth of 64.21%, and a net profit attributable to shareholders of 96.71 million yuan, up 150.15% year-on-year [2][3]. - In Q1 2025, Degute's revenue was 125 million yuan, showing a year-on-year decline of 31.19%, attributed to delayed order deliveries from 2023 [3]. - Haowei Technology reported a revenue of 3.34 billion yuan in Q1 2025, also experiencing a decline, which is explained by the seasonal nature of the software and IT services industry [3]. Group 2: Business Synergy - The acquisition is expected to create significant business synergies, with Haowei's "Three Integration" intelligent computing solution reducing deployment time from 6 months to 72 hours, and improving fault prediction accuracy by 40% in power industry applications [4]. - The collaboration will enable Degute to leverage Haowei's expertise in digital solutions to enhance its traditional manufacturing processes, thereby improving digital management efficiency [4]. Group 3: Market Expansion - Degute's products are sold in over 30 countries, while Haowei has branches in 19 countries, indicating potential for collaborative international market expansion [5]. - The differing customer bases of Degute and Haowei present complementary opportunities, allowing Degute to enter smart city environmental projects through Haowei's government and enterprise channels [4][5].

本报讯 （记者周尚伃）日前，第九届不动产证券化与REITs高峰论坛暨"金萃奖"年度颁奖盛典在上海举行。其中，财通资 管旗下"常熟经开工业坊1期资产支持专项计划（长江经济带）"凭借创新的产品设计、显著的社会效益和广泛的市场认可度， 获"金萃奖——年度最佳类REITs产品"。这也是财通资管斩获的第六座金萃奖杯，体现了业界对财通资管投融联动业务实力的 肯定。 近年来，财通资管发挥券商资管的牌照优势，成功发行多单具有创新意义的资产证券化项目，包括全国首单包含游戏动漫 版权的知识产权ABS、首单清洁能源持有型不动产ABS等，运用资产定价能力与投融端需求匹配能力，为实体经济不断"输 血"，并助力融资主体强化"造血"功能。Wind统计显示，财通资管今年上半年发行33只ABS产品，合计发行规模259.8亿元，排 名行业第八；截至今年6月底，已累计发行206只ABS产品，合计发行规模为1650.9亿元。 （编辑 郭之宸） 据了解，"不动产证券化与REITs高峰论坛"已累计举办九届，是国内不动产证券化与REITs行业具有影响力的年度交流平台 之一，"金萃奖"评选从推动行业创新、促进市场健康发展、提升资产质量、优化投资回报等方面进 ...