与投资者同行 为价值共筑——天津辖区上市公司2025年投资者网上集体接待日暨半年报业绩说明会9月 11日在全景网举行。力生制药（002393）（002393）独立董事方建新介绍，原料制剂协同降本，力生制 药深入推进原料药与制剂一体化发展。通过自行研发原料药，降低生产成本，从而缓冲集采降价冲击。 公司积极拓展销售覆盖广度与深度。对于中标集采品种，凭借企业品牌优势与销售网络，努力扩大基层 医疗、零售药店等多元渠道铺货量，以更广泛的市场触达，深挖市场，增加销量。 ...

赛象科技是一家集科研、开发、生产、贸易于一体的高新技术企业，主要研发和制造高等级光机电一体 化的各种工程、载重、乘用、航空等系列子午线轮胎生产设备，并为用户开发工业控制软件和轮胎企业 管控网络信息系统。公司共获得一次国家科技进步一等奖、二次国家科技进步二等奖、一次国家科技进 步三等奖、多次省部级科技进步一等奖。 9月11日下午，天津辖区上市公司2025年投资者网上集体接待日暨半年报业绩说明会在全景路演举行。 投资者交流环节，问及研发投入持续增长问题，赛象科技（002337）（002337）董事会秘书王红军称， 公司长期以来一直重视产品研发投入和产品的迭代升级，近年来不断将工业互联网、AGV智能物流、 智能控制等新技术引入到产品中，以技术先进、质量可靠、服务优秀的产品满足客户的个性化需求，为 客户创造价值。 ...

马霏霏表示，公司将进一步丰富产品结构，公司营销体系持续发力，产品销售持续放量，不断抢占市场 份额，有望为公司创造更大的经济效益。未来，力生制药将持续深化研发与产业化协同，为患者提供优 质可及的药品，同时为投资者创造长期价值 与投资者同行 为价值共筑——天津辖区上市公司2025年投资者网上集体接待日暨半年报业绩说明会9月 11日在全景网举行。力生制药（002393）（002393）董秘马霏霏介绍，2020年以来，公司大力推进新品 研发，多个药品开发取得新突破。其中，缬沙坦氨氯地平（Ⅰ）、利伐沙班片、吲达帕胺缓释片、甲磺 酸多沙唑嗪缓释片、培哚普利吲达帕胺片、替格瑞洛分散片、培哚普利氨氯地平片和氯化钾缓释片13个 品规仿制产品陆续获得《药品注册证书》，22个品规产品通过一致性评价，并已获得9个《化学原料药 上市申请批准通知书》。 ...

人形机器人产业近年来受到国家层面高度重视。工信部等部门发布的《人形机器人创新发展指导意见》 明确提出，到2025年要实现人形机器人批量生产的目标，将其打造为经济增长的新引擎。当前，人形机 器人行业正处在从技术研发向规模化商业应用转变的关键时期。机器人企业需要资本支持和产业资源来 加速技术迭代和应用场景拓展。 宏润建设集团股份有限公司成立于1994年，于2006年在深交所成功上市，经过30年的发展，已成为中国 城市建设领域的重要参与者。作为国家高新技术企业，宏润建设在建筑工程、基础设施投资建设、工程 勘察设计等领域拥有雄厚实力。公司是国内城市轨道交通建设的重要力量，在公路、桥梁、隧道等基础 设施建设方面积累了丰富经验。宏润建设在盾构施工技术方面处于国内领先地位，并且是国内最早研发 和应用盾构换刀机器人的企业之一，这一技术背景为公司进军机器人领域奠定了坚实基础。 师出名门，矩阵超智的技术基因 矩阵超智(上海)人工智能科技有限公司成立于2024年，其创始团队拥有令人瞩目的行业背景。公司创始 人张海星曾是特斯拉中国设计中心的负责人，核心团队成员多来自特斯拉、英伟达、OpenAI等全球顶 尖科技企业。 在2025年7月 ...

2025年9月10日《纽约时报》报道，特朗普政府拟加强对中国药品限制，该事件引起了市场热切关注。 对此，平安医疗健康基金经理周思聪发表以下最新观点！ 关于该事件对创新药板块行情的影响如何？周思聪表示，一是短期情绪扰动难免，但不改中长期产业逻 辑。本轮创新药板块上涨的核心驱动，在于行业步入长景气周期，中国创新药企陆续实现国内医保放 量，并整体跨越盈利拐点。尽管近期市场关注点多集中于BD主题，对业绩主线的认知尚不充分，行情 仍处于估值修复的第一阶段，中长期趋势并未改变。 周思聪认为，该报道核心指向美国政府对本土药企引进海外产品（BD）的审查趋严，以及对临床试验 数据提出更高要求。实际上，在FDA持续强化监管的背景下，此类政策方向早已有所体现，因此预计不 会带来新的实质性影响。具体原因如下： 二是行情主线或向确定性更强的标的切换。随着市场对创新药行业认知逐步深化，此前对中小市值企业 盲目追捧、忽视资产质量与BD确定性的情绪或将回落。产品已上市并贡献业绩、或临床阶段居后、BD 确定性较高的中大型创新药企业，有望重新获得资金青睐。 一是BD合作是MNC常态，中国创新药资产仍具备全球竞争力。大型药企（MNC）通过引进外部 ...

Group 1 - The core point of the news is that Hailianxun is undergoing a stock swap merger with Hangzhou Turbine Power Group Co., Ltd., with the merger review meeting scheduled for September 11, 2025, and the swap price set at 9.35 yuan per share, maintaining a 1:1 exchange ratio [1] - Hailianxun has established a strong service model centered on "demand-oriented + scenario customization," providing comprehensive solutions in the power industry, which enhances customer loyalty and stabilizes business layout [2] - The company is actively extending its services from traditional system integration to high-value-added areas such as intelligent operation and data services, optimizing its business structure [2] Group 2 - The power information industry in China is transitioning to a new stage of deep application and intelligent integration, with significant government policies promoting the construction of new power systems, including investments exceeding 650 billion yuan planned for 2025 [3] - As the scale of new energy installations rapidly increases, the grid requires higher bandwidth, real-time capabilities, and security for communication systems, leading to a focus on fiber optic communication for transmission networks and a combination of wired and wireless technologies for distribution networks [4] - Hailianxun is enhancing its technical adaptation and innovation in intelligent operation, control, and decision-making, while participating in emerging projects like smart microgrids and virtual power plants, driving the digital and intelligent transformation of energy systems [4] Group 3 - The merger with Hangzhou Turbine Power Group is a strategic move to optimize the industrial layout of state-owned listed companies, improve asset quality and operational efficiency, and ensure the preservation and appreciation of state-owned assets [5] - This transaction aligns with national policies encouraging mergers and acquisitions among listed companies, enhancing the continuous profitability and core competitiveness of the listed company, thereby increasing its investment value [5]

Group 1 - The Chinese energy equipment industry is undergoing a new round of integration and upgrading driven by the "dual carbon" goals and accelerated manufacturing transformation [1] - Hangzhou Hailianxun Technology Co., Ltd. plans to absorb and merge Hangzhou Steam Turbine Power Group Co., Ltd. through a share swap, which has attracted significant market attention [1] - The merger is expected to leverage the complementary advantages of both companies, allowing them to seize opportunities in new market segments [1] Group 2 - Major technical equipment such as industrial steam turbines and gas turbines are core power sources for basic industries like petrochemicals, electricity, and chemicals, directly impacting national energy consumption and emission reduction [2] - The demand for efficient, clean, and intelligent power equipment is continuously growing as the "carbon peak and carbon neutrality" strategy is deeply implemented [2] - Hangzhou Steam Turbine Power Group is a leading player in the domestic industrial steam turbine sector, with a strong market share and extensive experience in turbine research and manufacturing [2] Group 3 - The merger between Hailianxun and Hangzhou Steam Turbine Power Group transcends traditional asset restructuring, representing a strategic collaboration focused on industrial upgrading and value reshaping [3] - This partnership aims to enhance the core competitiveness of both companies and provide a new practical path for the intelligent and green development of China's high-end equipment manufacturing industry [3] - A new type of industrial technology enterprise is emerging, characterized by greater innovation, closer alignment with customer needs, and alignment with future industry directions [3]

| IPO进程 | | | | | | 已完成 ■過行中 >> | | --- | --- | --- | --- | --- | --- | --- | | 招股 | 路演及海价 | 发行公告 | 同上申购 | 公布中签/发行结果 | 特上市 | 上市 | | 2025-08-21 | 2025-08-26至08-26 | 2025-08-29 | 2025-09-01 | 2025-09-02 609-03 | 2025-09-03 | | 资料来源：Wind 在江西上饶的智能工厂里，一台台电热毛巾架正经过全自动生产线，即将发往全球60多个国家和地区， 其中包括欧洲最大建材连锁商的货架。艾芬达这家起步于江西上饶的企业，从电热毛巾架这个看似细分 的领域切入，通过二十年专注与创新，成长为年营收超10亿的全球行业领军者，更是拥有国内首个"中 国电热毛巾架领先智造科技产业化基地"，具备年产超200万套加热毛巾架的生产能力。 9月2日，艾芬达发布公告，其创业板上市确定发行2167万股，发行价为27.69元/股，预计总募资约6个 亿，即将开启公开资本市场征程。 根据招股书披露，公司本次融资募集资金主要用于"年产130 ...

Core Viewpoint - The company, Lihexing, is gaining significant attention in the market as a long-term partner within the Huawei ecosystem, leveraging its collaborations in emerging fields to drive new growth momentum [1] Group 1: Partnership with Huawei - Lihexing has been a qualified supplier for Huawei since 2013, with over 10 years of collaboration, initially focusing on testing equipment for Huawei's Mate series smartphones, capturing over 10% market share in the smart terminal testing sector [2] - The partnership has expanded beyond mobile devices to include 5G base stations, new energy vehicles, and digital energy, with Lihexing becoming a core manufacturer for Huawei's liquid cooling ultra-fast charging equipment [2] - The company is also involved in Huawei's solar storage supply chain, providing precision components for photovoltaic inverters and energy storage systems, benefiting from the acceleration of new energy infrastructure [2] Group 2: Semiconductor Component Collaboration - In response to the accelerated domestic semiconductor localization, Lihexing has partnered with semiconductor equipment company Xinkailai, entering the high-margin precision components sector and becoming a core supplier [3] - Xinkailai currently has a robust order book, serving leading domestic wafer fabs such as Shenzhen Pengxinwei and SMIC, indicating a phase of explosive growth [3] Group 3: Liquid Cooling Technology and AI Computing - The demand for AI applications is driving a surge in computing power needs, with liquid cooling technology becoming a standard for AI servers [5] - Lihexing has developed an automatic maintenance testing system for liquid cooling servers and has successfully entered Huawei's Ascend server supply chain, addressing high-power cooling challenges [5] - The global liquid cooling market is projected to exceed 100 billion yuan by 2026, quadrupling from 2025, positioning Lihexing to benefit from technological advancements and infrastructure acceleration [5] Group 4: Humanoid Robot Development - Leveraging its expertise in precision machinery, automation, and machine vision, Lihexing is advancing into the humanoid robot sector [6] - The company has developed high-precision transmission testing equipment for robotic joints and is involved in the joint drive development for Huawei's Jimo robot, while also supporting Tesla's humanoid robot supply chain [6] Group 5: Growth Potential - Lihexing's strategy of being a core supplier for Huawei, entering the semiconductor component market, capitalizing on liquid cooling technology, and expanding into humanoid robotics presents a significant growth potential [7] - The company is expected to continue breaking through in multiple high-growth sectors, ushering in a new phase of accelerated growth [7]

为持续向投资者普及ETF基础知识，招商证券携手十大基金公司，联合全景网共同举办2025年招商证 券"招财杯"ETF实盘大赛系列直播，旨在帮助投资者提升资产配置与风险管理能力，促进ETF市场的健 康发展。 投资科创板可以采用核心加卫星的策略，以科创板宽基指数，像科创综指、科创50、科创100等作为底 仓配置，以科创板六大核心特色细分产业作为卫星选择。 政策、资金、产业、情绪四大逻辑支撑健康行情 添财酱：这一轮行情强势启动背后的核心催化剂是什么？有哪些重点板块值得关注？ 孙浩：今年以来整个A股的上涨，不是非常迅猛的上涨，而是从4月以来不急不缓地持续上涨，近期在 热点题材带动之下出现了短暂加速。但整体来看，A股今年走势是健康、慢牛的状态。 2025年8月26日，"招财杯"ETF实盘大赛系列直播邀请到了汇添富基金经理孙浩、汇添富人气主播添财 酱一起探讨《AI芯片爆火！把握科创赛道》。 孙浩表示，从长周期维度去看，芯片领域的增量需求、国产替代需求的确定性较高，同时短期受到新兴 产业如AI、人形机器人等爆发式的引领，短中期的爆发性增长需求也比较引人瞩目。科创板芯片板块 汇聚了芯片产业当中很多芯片公司龙头，投资科创板芯片指 ...