相关资料显示，李立恒长期深耕于一线市场拓展与团队体系建设，王明峰则在复杂业务场景下具备成熟 的战略设计与组织复制能力。在业内人士看来，李立恒在人员招募、培训及实战管理方面的经验，将直 接服务于擎天租城市合伙人团队的搭建与运营；王明峰的加入则将为擎天租全国网络的标准化运营与规 模扩张提供系统方法论支持。 此外，擎天租正式宣布启动全国城市合伙人战略。据了解，该计划将围绕组织建设、标准化运营体系与 平台能力输出，对本地服务商进行体系化赋能。 "公司将通过平台化协同方式，整合分散的线下服务资源，加快全国服务网络的构建与扩展，提升跨城 市交付效率、服务一致性与规模化运营能力。"擎天租方面表示，作为业内率先以平台化模式系统整合 全国机器人租赁服务资源的企业，擎天租正在探索一条不同于单点交付的规模化路径。 据擎天租平台数据，在上线三周后，擎天租注册用户数已突破20万，日均租赁订单稳定在200单以上。 2026年2月2日，全球机器人租赁服务平台擎天租宣布完成新一轮关键管理层布局。 在业内人士看来，随着机器人服务进入规模化商用阶段，平台型公司的竞争焦点正从单一产品能力，转 向组织效率、交付体系与网络化运营能力，伴随具备成熟地面 ...

对此，《中国经营报》记者日前向智元机器人方面求证，相关工作人员回应称："情况属实"。 据了解，智元机器人此次举办的机器人专属晚会将挑战并刷新一系列行业"首创"纪录，全景展示交互智 能、运动智能、作业智能与多机协同等前沿机器人技术。 截至目前，已有4家机器人公司官宣将参加央视马年春晚，分别是魔法原子、银河通用、宇树科技和松 延动力。 上不上央视马年春晚？智元机器人的答案终于尘埃落定。 2月3日，智元机器人方面宣布，将于2月8日20:00面向全球直播"全球首个大型机器人晚会"——《机器 人奇妙夜》。作为行业首创的机器人专属晚会，《机器人奇妙夜》最大亮点在于"全机器人主导"，将有 200余台机器人"挑大梁"，包揽整场晚会的表演与观众互动环节。 此前有消息称，智元机器人与宇树科技竞争央视马年春晚席位。据报道，智元机器人不参加央视马年春 晚的原因是在预算有限的前提下，最终选择优先保障具身智能技术及产品研发的费用。 （文章来源：中国经营报） ...

Core Insights - The latest research from Changjiang Business School indicates that during the "14th Five-Year Plan" period, China has transitioned from "quantitative accumulation" to "qualitative leap" in the field of academic papers, surpassing Europe and the U.S. not only in quantity but also in top-tier results, establishing a solid theoretical foundation for the rise of new productive forces [1][2] Group 1: Research Output - China's research output has shown a significant upward trend across different development stages, with an average annual growth rate of 22.9% in paper quantity during the peak period of 2000-2005, and a sustained growth rate of 9.5% in the last five years despite economic pressures [1] - In contrast, the U.S. has an average annual growth rate of approximately 3% in paper quantity, which aligns closely with GDP growth, while the European Union has experienced a decline in growth rate in recent years, widening the gap with China [1] Group 2: High-Impact Papers - According to research from the Australian ASPI Institute, China leads globally in the number of high-impact papers in 66 out of 74 core future industries, while Europe and the U.S. can only compete in a few areas [2] - In the category of the most cited top 1% papers, China holds a 37% share in engineering disciplines, compared to 18% for Europe and 10% for the U.S., and even in the more stringent top 0.1% category, China's share remains ahead of both [2] Group 3: Technology Commercialization - The advantage of Chinese papers extends beyond mere academic achievements; they serve as a "technology reserve" for the future explosion of new productive forces [3] - The average time for technology from paper to large-scale commercialization in the U.S. and Europe is about 10-15 years, whereas China, leveraging its high application research ratio, complete industrial chain, and unified market, significantly shortens this conversion period, particularly in the field of new energy [3] - The top papers in fields such as energy, quantum computing, artificial intelligence, and advanced manufacturing align closely with the development direction of new productive forces, providing theoretical support for China to overcome critical technological challenges [3]

在数字化浪潮席卷全球的今天，开源开放已成为激发产业创新活力、凝聚发展合力的关键路径。华为作 为信息通信业的领军企业，自2010年起逐步布局开源领域，从最初的 "使用开源""参与开源"，成长为 如今的 "主导开源"，构建起了覆盖昇腾、鲲鹏、欧拉等核心平台的全链条开源体系。 赋能产业协同共生 相对于通用计算，在智能计算领域，随着大模型规模不断扩大、输入长度持续增加、数据需求指数级增 长，算力需求呈现爆发式增长。"国家去年发布的日token消耗达300万亿，未来可能突破每日千万亿， 近日，在以"算力创新领航开源开放共创"为主题的沙龙上，华为计算产品线多位高管对《中国经营报》 记者表示，华为正通过开源开放不断推动产业生态的繁荣发展，不仅在技术层面实现了深度共享与协同 创新，更在商业模式、生态构建等方面展现出前瞻性的布局。通过开源，华为有效促进了产业链上下游 企业的紧密合作，共同探索算力创新的新路径，为数字经济的蓬勃发展注入了强劲动力。 构建全链条产业生态 "华为计算产业从2019年正式创立至今，始终坚守'硬件开放、软件开源、使能伙伴、发展人才'的十六 字方针，这不是一句口号，而是我们六年来始终践行的核心战略。"华为计 ...

Core Insights - The low-altitude economy in China is at a critical juncture with the release of the "Low Altitude Economy Standard System Construction Guide (2025 Edition)" by ten government departments, marking a roadmap for industry standardization [1][2] - WoFei ChangKong, a leading eVTOL company, announced nearly 1 billion yuan in new financing, setting a record for the largest single financing in the industry at the start of 2026 [1][4] - The financing will focus on core technology research and commercialization, particularly for the AE200 series, indicating a shift towards regulatory certification and large-scale commercial use [1][4] Industry Development - By 2027, a basic standard system for the low-altitude economy is expected to be established, with over 300 standards projected by 2030, emphasizing safety, innovation, and international compatibility [2] - The guide aims to address industry pain points such as inconsistent standards and unclear regulations, thereby reducing compliance costs and enhancing market confidence [2][3] - A governance system combining policy regulation, industry self-discipline, and regional collaboration is deemed necessary to address current issues like illegal flights and inadequate standard execution [3] Capital Market Dynamics - The influx of capital into the eVTOL sector is accelerating, with WoFei ChangKong's recent financing involving multiple well-known investment institutions, highlighting investor confidence in the sector [4][6] - Other companies, such as WoLanTe and YuFeng WeiLai, have also secured significant funding aimed at advancing their eVTOL products towards certification and commercialization [5][6] - The successful financing of leading eVTOL companies signals a critical development phase, with capital increasingly directed towards firms with core technologies and clear commercialization paths [6] Future Commercialization Pathways - The future of the low-altitude economy is expected to follow a "gradual and regionally adapted" approach, prioritizing pilot projects in areas with sufficient airspace resources and strong industrial foundations [7] - The focus will be on practical applications such as logistics and inspection, which are more mature and profitable, before expanding to more complex urban commuting scenarios [7]

Core Viewpoint - Fulin Precision (300432.SZ) has been reprimanded by the Sichuan Securities Regulatory Bureau for issues related to the disclosure of related party transactions, raising concerns about the effectiveness and stability of its internal controls [2][3][4]. Disclosure Issues - Fulin Precision has been found to have delayed and inaccurate disclosures regarding related party transactions, including the failure to disclose a special report on the use of raised funds for the first half of 2022 [3][4]. - The company previously received a warning in September 2021 for similar disclosure issues, where it failed to identify and disclose its relationship with Mianyang Anda Construction Engineering Co., Ltd. in its annual reports from 2018 to 2020 [4]. Financial Reporting Irregularities - The company has been cited for various financial accounting irregularities, including misreported revenue from outsourced processing materials and improper revenue recognition for some export businesses [5][6]. - These irregularities resulted in a misreported revenue of 12.45 million yuan, accounting for 0.15%, and a profit misreporting of 1 million yuan, accounting for 0.25% in the 2024 annual report [6]. Governance and Internal Control Issues - Fulin Precision has faced governance issues, such as missing votes from individual board members in some resolutions and lack of signatures from insiders on confidential information records [6]. - The Sichuan Securities Regulatory Bureau has mandated corrective administrative measures and issued warnings to key executives, including the chairman and general manager [6]. Strategic Developments - Prior to the regulatory measures, Fulin Precision announced plans to introduce CATL as a strategic investor through a private placement, with CATL being a significant customer for its lithium iron phosphate materials [7]. - The impact of the recent regulatory actions on the progress of this strategic investment remains uncertain, particularly regarding the company's related party transaction approval processes [7].

当前，中国企业迎来新一轮全球化发展浪潮。卢华基指出，应进一步完善"走出去"政策体系，推动税 务、会计、审计、法律等专业服务协同创新，建设开放、规范、高效的国际专业服务生态，助力中国企 业合规、稳健、可持续地走向全球。 2月2日，上海市政协十四届四次会议开幕。《中国经营报》记者了解到，上海市政协委员、澳洲会计师 公会大中华区荣誉顾问、信永中和香港管理合伙人卢华基聚焦企业出海。 从"产品出海"走向"运营出海" 卢华基指出，当前，长三角地区企业"走出去"正从"产品出口"迈向"全球化运营"，对海外市场布局、跨 境投融资与风险管理的专业化需求日益增强。高水平出海已不仅是市场战略，更是合规与治理能力的综 合体现。 四是构建开放共治的专业服务生态。鼓励本土事务所"随企出海"，通过境外布局、国际联盟与复合型人 才培养，打造具备全球交付能力的中国专业服务品牌，提升上海及长三角在国际专业服务网络中的枢纽 地位。 再如，2025年12月，上海市企业"走出去"综合服务平台正式上线，该平台由上海市商务委牵头建设，致 力于整合上海各类政务服务和专业服务资源，为企业出海打造一站式、全流程出海服务旗舰。 发展合规科技与数智化解决方案 需要注 ...

Core Viewpoint - The recent policy changes aim to enhance the capacity pricing mechanism for coal, gas, pumped storage, and new energy storage to ensure the stability and safety of the power system while promoting a green and low-carbon energy transition [2][4]. Group 1: Policy Changes and Mechanisms - The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) have issued a notification to improve the capacity pricing mechanism for various energy sources, including coal and gas [2]. - The notification emphasizes the need to adapt the pricing mechanisms to the requirements of the new power system and market structure, ensuring a fair competitive environment [2][3]. - It proposes to increase the coal power capacity price standard in various regions and establish a similar pricing mechanism for gas power [2]. Group 2: Financial Implications - The notification requires that the proportion of fixed costs recovered through capacity pricing for coal power plants be raised to no less than 50%, equating to 165 yuan per kilowatt annually [4]. - For new pumped storage projects, a unified capacity price will be set based on average cost recovery principles [2][4]. - The establishment of an independent capacity pricing mechanism for new energy storage will consider factors such as discharge duration and peak contribution [2][4]. Group 3: Impact on Electricity Pricing - The policy is designed not to affect residential electricity prices, maintaining the current pricing policy for residential and agricultural users [4]. - For industrial and commercial users, the adjustments in capacity pricing are expected to balance out, with costs for regulatory power sources decreasing while capacity pricing increases, resulting in minimal impact on overall electricity costs [4].

Core Viewpoint - The rise of new psychoactive substances has surpassed traditional drugs, with some provinces reporting that new drug cases account for over half of all drug-related incidents. The involvement of minors in drug abuse is increasing, leading to a cycle of addiction and criminal activity [1][2]. Group 1: Current Drug Crime Trends - New psychoactive substances are becoming a significant issue, with a notable increase in cases involving medical narcotics and psychoactive drugs as substitutes for traditional drugs [2][3]. - In 2023-2025, courts are expected to adjudicate approximately 93,000 drug cases, with 133,000 defendants, of which 27,000 will receive prison sentences of five years or more, resulting in a heavy sentencing rate of 20% [2]. - The number of drug cases has significantly decreased, with a reported 23,732 cases concluded in 2025, marking an 82.93% decline from the peak in 2015 [1]. Group 2: Sources and Channels of Drug Distribution - Medical institutions, pharmacies, and clinics have become channels for the illegal distribution of narcotic drugs, with some medical professionals exploiting their positions for profit [3][4]. - The types of abused narcotic drugs are diverse but concentrated on specific substances such as etomidate, methadone, and synthetic cannabinoids [3]. Group 3: Legal and Regulatory Responses - The Supreme People's Court has issued guidelines to strengthen the judicial handling of cases involving narcotic drugs, particularly focusing on medical narcotics and psychoactive substances [3][5]. - Recent judicial recommendations have been made to the National Health Commission to enhance the regulatory framework surrounding narcotic drugs, addressing loopholes and weak points in current systems [5].

自2026年2月4日（星期三）收盘清算时起，Au（T+D）、mAu（T+D）、Au（T+N1）、Au （T+N2）、NYAuTN06、NYAuTN12等合约的保证金比例从16%调整为17%，下一交易日起涨跌幅度限 制从15%调整为16%；CAu99.99合约保证金每手120,000元调整至每手150,000元。 通知指出，各会员提高风险防范意识，做细做好风险应急预案，提示投资者做好风险防范工作，合理控 制仓位，理性投资，确保市场稳定健康运行。 （编辑：张漫游 审核：朱紫云 校对：翟军） 中经记者 郝亚娟 夏欣 上海 北京报道 2月3日，上海黄金交易所发布《关于调整黄金部分合约保证金水平和涨跌停板的通知》（以下简称"通 知"），上海黄金交易所拟对黄金部分合约交易保证金水平和涨跌停板比例进行调整。现将相关事项通 知如下： ...