1月22日，上海燧原科技股份有限公司（以下简称"燧原科技"）向上海证券交易所提交的科创板上市申请正式获得受理。作为被业内誉为"国产GPU四小 龙"之一的标杆企业，燧原科技此番冲刺IPO，被视为国产AI芯片产业一次关键的"收官之战"，不仅承载着企业自身从技术产品闭环迈向商业价值闭环的跨越 期望，也折射出中国在高性能人工智能算力领域自主创新的决心与进展。 在股东结构及产业协同层面，燧原科技与互联网巨头腾讯的深度绑定尤为引人关注。腾讯科技（深圳）有限公司持有公司约19.95%的股份，是公司第二大 股东。这种资本纽带深化为紧密的业务合作：腾讯不仅是燧原科技的重要战略投资者，更是其报告期内的第一大客户。尤其是在2025年上半年，公司对腾讯 的销售收入占营业收入比例超过了50%。双方交易涉及AI加速卡及模组的销售、IP授权、技术服务等多个层面，同时燧原科技也向腾讯采购服务器、云服务 等，形成双向协同。腾讯集团副总裁刘剑亦在公司董事会担任董事，参与重大决策，进一步强化了双方在战略与业务层面的联动。这些关联交易均声称遵循 市场化原则定价，并履行了规定的决策与披露程序。 | 项目 | 2025 年度 1-9 月 | | 202 ...

消息面上，国际金价大幅飙升，现货黄金一举站上4950美元/盎司关口，刷新历史最高纪录。COMEX黄 金期货价格同步走强，最高触及4970美元/盎司，距离5000美元整数关口一步之遥。国际金价的飙升迅 速传导至国内市场，国内多数知名金饰品牌报价刷新1500元/克。 华西证券（002926）指出，过去三年，黄金价格势如破竹，节节攀升，收益属性远超历史。美联储货币 政策的预期依然是决定金价趋势的主要因素，而地缘政治冲突、美国自身风险以及由此衍生的对美元信 用担忧，则成为加大金价涨幅的新催化剂。此外，全球央行的持续购金行为，为稳定金价底部提供有力 支撑。参考历史规律，2026年金价涨幅或介于10%-35%区间。受美联储降息预期、美元信用不稳、美国 中期选举以及地缘政治不确定性的影响，金价有望进一步上涨。（全景网 龚璨） 1月23日，四川黄金（001337）（001337）周内再次以涨停价报收，全周涨幅达46.74%收报50.23元/ 股，一举刷新其历史新高。 ...

问界持续领跑豪华新能源汽车市场，赢得百万用户信赖，既凭借出色的产品力，也依托不断拓展的服务 体系。截至目前，问界用户中心已达376家，覆盖全国超200座城市，全年累计响应服务需求71.2万次， 提供主动服务超25万次，为用户累计节约维修时长超36万小时。问界以智慧科技为驱动，打造数智化车 间，实现服务全程透明可视，为用户提供更安心、省心的体验。 在硬核产品力与优质用户服务的共同支撑下，问界市场表现屡创新高。2025年12月，问界交付新车超 5.7万辆，刷新单月交付纪录，且已连续交付突破5万辆。截至目前，问界全系累计交付突破100万辆， 其中问界M9累计交付超27万辆，问界M8累计交付突破15万辆。 问界持续拓展服务边界，致力于在每一处细节中注入共情与温暖，让更具人文关怀的新豪华服务，精准 触达更多用户与家庭。正如赛力斯集团董事长（创始人）张兴海所说："问界希望为用户提供全生命周 期的极致体验。" 围绕这一理念，问界在打造优质产品的同时，也不断升级服务体系，全方位守护用户 的用车全生命周期，让品牌温度持续传递，真正践行"全心全意为用户服务"的承诺。 持续焕新升级 诠释"新豪华"服务内涵 在竞争激烈的豪华新能源汽 ...

Core Insights - Shenzhen Yipuson Technology Co., Ltd. has announced a strategic investment from Guangzhou Silin Jie Technology Co., Ltd. to jointly explore the healthcare and elderly care sectors, particularly in the field of embodied intelligent robots [1][2] - The collaboration aims to leverage advancements in artificial intelligence and embodied intelligence to enhance the integration of robotics in healthcare, showcasing significant growth potential in this area [1] Group 1: Company Overview - Yipuson is a leading player in the hospital logistics robot sector in China, focusing on the application of embodied intelligence technology in medical service robots [1] - The company has implemented its smart logistics solutions in over 300 medical institutions nationwide, establishing a strong market presence and customer base [1] Group 2: Strategic Collaboration - Silin Jie has a solid technical foundation in industrial automation and is expanding into emerging fields such as renewable energy and biomedicine [2] - The investment in Yipuson reflects Silin Jie's strategic vision for the future of the embodied intelligence industry and its commitment to extending its core technology advantages into the healthcare sector [2] - The partnership will enhance Yipuson's robots' perception, control, and decision-making capabilities, improving competitiveness in complex healthcare environments [2] Group 3: Future Directions - Both companies are committed to continuous investment in technology research and scene innovation to build a smart healthcare ecosystem [2] - The collaboration is seen as a significant step for Yipuson in its development journey, with a focus on improving healthcare service experiences and supporting healthy aging through intelligent technology [2]

"十五五"规划建议明确提出加快建设新型能源体系，建设能源强国，要求坚持风光水核等多能并举，促 进清洁能源高质量发展，规划指引为核能产业的规模化、高质量发展提供了清晰的政策指引。而人工智 能浪潮带来的能源消耗具有全域性特征，不仅局限于数据中心；"AI+"赋能千行百业提速发展将有望进 一步拉动全社会电力需求增长，打开核能产业成长空间。 久立特材是国内工业用不锈钢管材领域的核心供应商，坐拥充沛产能并实现跨领域的广泛业务布局。公 司具备年产20万吨成品管材、1.5万吨管件及2.6万吨合金材料的生产实力，业务覆盖多产业赛道，将深 度分享各行业发展带来的增长红利。 "十五五"时期，各行业高质量发展驱动的电力需求增长具备高度确定性，将能强力拉动清洁能源产业扩 容，为核电赛道注入持久发展动能，以久立特材为代表的具备核心技术与产能优势的产业链标杆企业有 望获得长期坚实的业绩增长支撑。 2025年国务院核准10台新核电机组，带动超2000亿元产业链投资落地；我国已连续七年核准核电项目， 且连续四年年度核准机组超10台，行业成长确定性凸显。海外方面，受数据中心缺电问题掣肘的美国也 正加速核能扩张进程，美国政府提出2050年前核电产 ...

数据驱动是三维天地国企电子招采平台方案的另一大亮点。其创新性构建的采购、销售、仓储物流三 大"控制塔"，形成了数据基础应用、统计分析、风险预警与智能决策的闭环管理。依托AI和机器学习技 术，国有企业全流程电子化招投标平台能实时监测供应商履约能力、价格波动趋势、库存周转率等关键 指标，将传统招采的"被动响应"升级为"主动预警"—— 比如提前预判供应中断、库存积压等风险，为 国企精细化成本管控提供了有力支撑。 适配性强、生态共生是三维天地作为国有企业电子招标采购平台技术服务商的突出优势。国企的组织架 构和数字化生态往往复杂多样，三维天地数智化供应链管理平台采用模块化设计，EC、SCM、SMS 三 大系统可独立部署、灵活组合，能随企业管理机制调整实现功能扩展，完美适配不同发展阶段的国企需 求。更关键的是，平台具备与MDM（主数据系统）、ERP（企业资源计划系统）、EAM、MES 等主流 系统的无缝集成能力，可快速对接国有资产监管平台，实现数据同源、流程联动，彻底解决了跨系统数 据同步的行业痛点，让国有企业全流程电子化招投标平台真正融入国企数字化生态，而非孤立存在。 此外，三维天地的国产化电子招标采购平台深耕能源、化 ...

Core Insights - The article emphasizes the strategic importance of the new energy and storage industries in China's "14th Five-Year Plan," highlighting the government's support for these sectors to drive high-quality development [1] Industry Overview - The new energy vehicle (NEV) industry in China is projected to achieve significant growth, with production and sales expected to reach 16.62 million and 16.49 million units respectively by 2025, marking a year-on-year increase of over 20% [2] - By 2040, the market penetration rate of NEVs in China is anticipated to exceed 80%, positioning the country among the world's leading automotive powers [2] Company Positioning - 纳百川 has established itself as a core supplier in the fields of power batteries for electric vehicles, fuel vehicle power systems, and thermal management for storage batteries, maintaining a strong customer strategy [1] - The company has been a strategic partner of 宁德时代 since 2012, supplying products to major automotive brands such as T Company, NIO, Xpeng, and Li Auto [1] Technological Advancements - 纳百川 has developed a comprehensive core technology system that addresses industry challenges, achieving a temperature deviation of less than 3°C in battery module thermal distribution and a flow resistance deviation of under 5% [2][3] - The company has also made breakthroughs in key areas such as new material applications and welding technology, ensuring product reliability under complex conditions [3] Market Growth and Demand - The global energy storage market is expected to grow significantly, with projections estimating a market size of $668.7 billion by 2024 and $5.12 trillion by 2034, reflecting a CAGR of 21.7% from 2025 to 2034 [3] - 纳百川's storage business has seen rapid growth, with its revenue share increasing from less than 5% in 2022 to over 30% in Q1 2025, driven by the booming storage industry [4] Capacity Expansion - The company's production capacity is nearing saturation, with a utilization rate of 88.31% and a sales rate of 97.57% in Q1 2025, indicating a critical constraint in meeting downstream demand [4] - To capitalize on industry opportunities, 纳百川 plans to invest 579 million yuan in a new production project aimed at producing 3.6 million sets of water-cooling plates annually [4][5] Future Outlook - The "14th Five-Year Plan" is expected to deepen the development of new energy industry clusters, with the NEV and storage sectors poised for high-quality growth [5] - As the company continues to expand its production capacity and overcome bottlenecks, it is well-positioned to benefit from the upgrading of the new energy industry and solidify its leading position in thermal management [5]

Group 1 - The core point of the article is that Yiling Pharmaceutical (002603.SZ) has forecasted a significant turnaround in its financial performance for 2025, expecting a net profit of between 1.2 billion to 1.3 billion yuan, compared to a loss of approximately 725 million yuan in 2024, indicating a successful recovery and substantial profit growth [1] - Yiling Pharmaceutical's wholly-owned subsidiary, Yiling Wanzhou International Pharmaceutical Co., Ltd., has received approval from the National Medical Products Administration for its first independently developed chemical drug, Manshuan (Phenylacetone Injection), marking a significant milestone for the company [1][3] - The approval of Phenylacetone Injection provides a new treatment option for postoperative pain management, particularly in abdominal and thoracoscopic surgeries, aligning with the guidelines from the Chinese Medical Association [3][4] Group 2 - According to the National Bureau of Statistics, there were 312 million inpatient admissions and 104 million surgical procedures in China's medical institutions in 2024, reflecting an 8% year-on-year increase from 2023, indicating a growing market for postoperative pain management solutions [4] - In the first three quarters of 2025, Yiling Pharmaceutical achieved operating revenue of 5.868 billion yuan, with net profit exceeding 1 billion yuan, representing a year-on-year increase of 80.33%, and a 90.53% increase in net profit after excluding non-recurring gains and losses [4] - The company emphasizes that 2025 is a critical year for its "13th Five-Year Plan," focusing on long-term development amidst market complexities, enhancing management, expanding market reach, and implementing a comprehensive cost control system to improve profit margins [4]

Core Insights - The article highlights that Dongfang Risheng's HJT module, Vuxi Pro, has achieved a significant milestone by ranking among the top three globally in the TaiyangNews TOP SOLAR MODULES list, with a production power of 740Wp and a conversion efficiency of 23.8%, marking the highest power record in the history of the list [1] - The global photovoltaic module industry is transitioning from scale expansion to a focus on quality and efficiency, with conversion efficiency becoming a key competitive factor that directly influences market share and profitability [1] - The TOP SOLAR MODULES list employs strict criteria for inclusion, ensuring that only high-quality products with a conversion efficiency of at least 21.5% are considered, thus providing a reliable benchmark for assessing core competitiveness in the industry [1] Company Performance - Dongfang Risheng's Vuxi Pro module integrates key technologies such as 0BB busbarless design, stress-free interconnection, and ultra-thin silicon wafers, achieving both performance and cost-effectiveness improvements [2] - The company has demonstrated a high bifacial rate of 90%±5% and a low temperature coefficient of -0.24%/°C, leading the industry in various application scenarios, showcasing its product adaptability and reliability [2] - By the end of 2025, the cumulative shipment of the Vuxi series HJT products is expected to exceed 12GW, with sales in over 80 countries, reflecting strong market recognition and global competitiveness [2] Strategic Expansion - Dongfang Risheng is expanding its strategic vision to include the space sector, aiming for a dual-track development approach of "ground + space," which is expected to uncover new growth opportunities for the company [2] - The company's strategic move into the space sector is supported by its advanced technology reserves and commercialization capabilities, including the mass delivery of a 50μm ultra-thin p-type HJT battery, which is highly compatible with flexible solar wings for low Earth orbit satellite internet energy systems [3] - The development of perovskite/silicon heterojunction stacked solar cells with a conversion efficiency of 30.99% lays a solid foundation for future breakthroughs in space photovoltaic efficiency [3] Industry Trends - The commercial space sector is gaining significant attention in global capital markets, with companies like SpaceX advancing their IPO plans, indicating a robust market environment for related industries [3] - Domestic policies are increasingly supportive of the aerospace sector, with the "14th Five-Year Plan" emphasizing the cultivation of strategic emerging industries, which is expected to accelerate the commercialization of frontier scenarios like space data centers [3][4] - Dongfang Risheng's strategic partnership with Shanghai Port focuses on the research, validation, and industrialization of perovskite + p-type heterojunction battery stacking technology in the space energy field, aligning with national aerospace strategies and capitalizing on the explosive growth of the commercial space industry [4]

1月22日，亿道信息（001314.SZ）发布2025年度业绩预告。公告显示，公司预计2025年实现归属于上市 公司股东的净利润同比增长76.04%至128.85%；扣除非经常性损益后的净利润同比大幅增长194.34%至 279.96%。 亿道信息坚定推行"AI+"战略，坚持创新驱动发展与长期主义理念，紧跟行业技术前沿趋势的同时，持 续加大研发投入，不断提升技术创新能力与产品核心竞争力。此外，公司通过优化服务体系、升级生产 流程、完善供应链布局，不断增强产品附加值，并为全球多产业合作伙伴提供深度赋能，为业绩增长奠 定了坚实基础。 在追求规模增长的同时，亿道信息高度重视经营效能的提升。公司持续推进数字化系统建设，并对自有 生产制造平台和供应链集采中心进行优化升级，显著提升了产能供给能力和供应链协同效率。 值得一提的是，在2025年末，亿道信息发布了覆盖个人、家庭、企业、产业、穿戴等全栈解决方案矩 阵，从AESOF开放框架到AI原生硬件的规模化落地，进一步体现了"All in AI"的发展决心。 业绩的显著提升，不仅受益于全球消费电子市场的结构性复苏，更直接体现了公司"AI+终端、AI+应 用"战略的前瞻布局与技 ...