知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据可知：2025年11月全国家具制造业出口货值为116.7亿元，同比下降9.9%；2025年 1-11月全国家具制造业累计出口货值为1232.7亿元，累计同比下降8.3%。 2019年-2025年1-11月全国家具制造业出口货值统计图 数据来源：国家统计局，智研咨询整理 上市公司：方大集团（000055），海螺新材（000619），北新建材（000786），中旗新材（001212）， 兔宝宝（002043），宝鹰股份（002047），亚厦股份（002375），北京利尔（002392），垒知集团 （002398），青龙管业（002457），名雕股份（002830），美芝股份（002856），豪尔赛（002963）， 中天精装（002989） 相关报告：智研咨询发布的《2026-2032年中国家具行业市场调查分析及投资发展潜力报告》 ...

上市公司：晨鸣纸业（000488），凯恩股份（002012），景兴纸业（002067），太阳纸业（002078）， 安妮股份（002235），齐峰新材（002521），青山纸业（600103），民丰特纸（600235），华泰股份 （600308），岳阳林纸（600963），博汇纸业（600966），荣晟环保（603165），仙鹤股份 （603733），松炀资源（603863），五洲特纸（605007），华旺科技（605377），森林包装（605500） 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 相关报告：智研咨询发布的《2026-2032年中国造纸工业行业发展模式分析及市场运行潜力报告》 根据国家统计局数据可知：2025年11月全国造纸和纸制品业出口货值为68.7亿元，同比增长0.3%；2025 年1-11月全国造纸和纸制品业累计出口货值为732.4亿元，累计同比 ...

Core Viewpoint - The wood processing industry in China is experiencing a decline in export value, with significant year-on-year decreases reported for 2025 [1][2]. Group 1: Industry Overview - In November 2025, the total export value of the wood processing and related products industry reached 3.07 billion yuan, marking a year-on-year decrease of 10.9% [1]. - From January to November 2025, the cumulative export value for the same industry was 31.42 billion yuan, reflecting a year-on-year decline of 7.1% [1]. Group 2: Companies Mentioned - Listed companies in the wood processing sector include: Rabbit Baby (兔宝宝, 002043), JuLi Culture (聚力文化, 002247), Oriental Yuhong (东方雨虹, 002271), Lopuskin (罗普斯金, 002333), Lezhi Group (垒知集团, 002398), Three Trees (三棵树, 603737), Fashilong (法狮龙, 605318), and Sentai Co., Ltd. (森泰股份, 301429) [1].

Core Viewpoint - The leather, fur, feather, and footwear industry in China is experiencing a decline in export value, with significant year-on-year decreases reported for 2025 [1] Industry Summary - In November 2025, the export value of the leather, fur, feather, and footwear industry reached 13.7 billion, representing a year-on-year decrease of 15.9% [1] - From January to November 2025, the cumulative export value for the same industry was 161.73 billion, showing a cumulative year-on-year decline of 5.9% [1] - A statistical chart detailing the export value from 2019 to November 2025 is provided, indicating a downward trend in the industry [1] Company Summary - Listed companies in the leather and fashion sector include Wanlima (300591), Zhongyin Fashion (300901), Henghui Security (300952), ST Aokang (603001), Red Dragonfly (603116), ST Qibu (603557), Jian Sheng Group (603558), Tian Chuang Fashion (603608), Kanglongda (603665), Mugao Di (603908), Hassen Co. (603958), and Yangzhou Jinqiu (603307) [1]

Core Viewpoint - The autonomous mining truck industry in China is experiencing rapid growth due to policy support, technological advancements, and increasing demand for safety and efficiency in open-pit coal mining [1][4]. Industry Definition and Characteristics - Autonomous mining trucks are designed for mining transportation, utilizing advanced sensors, high-precision positioning systems, and intelligent decision-making algorithms to operate without human intervention [2][3]. - The industry is characterized by dual drivers of policy and technology, strong market demand, a diversified competitive landscape, and increasing technical maturity [3]. Current Development Status - As of 2024, over 50 open-pit coal mines in China have deployed autonomous mining trucks, with the number of trucks reaching 2,500, doubling from 2023 [4][5]. - The market size for autonomous mining trucks in China is projected to grow from 356 million yuan in 2021 to 3.5 billion yuan in 2024, with expected shipments increasing from 216 units in 2021 to 1,400 units in 2024 [5][6]. Industry Supply Chain - The supply chain consists of upstream components like sensors and algorithms, midstream manufacturing of autonomous trucks, and downstream applications in various mining sectors [8]. Competitive Landscape - The industry features a diverse range of competitors, including specialized technology providers, traditional manufacturers, and cross-industry tech companies, with a notable presence of companies like Yikong Zhijia and Xugong Machinery [9][10]. - Major players such as Xidi Zhijia and Yikong Zhijia are leading the market, with significant revenue contributions from their autonomous mining truck segments [10][11]. Competitive Trends - The commercialization of autonomous mining trucks is expected to accelerate, driven by technological advancements and regulatory improvements, with a focus on safety, efficiency, and cost reduction [12]. - Future competition will center around technology, product diversity, service specialization, global market strategies, and standardized industry practices, indicating a shift towards high-quality development [12].

Core Insights - The health service industry aims to create a favorable organizational environment by providing safe, effective, convenient, and affordable basic medical and public health services to meet various health needs of residents. The demand for health-related products and services is rapidly increasing due to social progress and changes in lifestyle [1][7]. Industry Overview - The health service industry encompasses medical services, health management, health insurance, and related services, involving pharmaceuticals, medical devices, health products, and fitness products [4]. - The industry has experienced rapid growth in China, with the market size increasing from 6.37 trillion yuan in 2018 to an expected 9.55 trillion yuan by 2024, representing a compound annual growth rate of 6.98%. The "Healthy China 2030" plan projects the total market size to reach 16 trillion yuan by 2030, indicating significant growth potential [1][8]. Development History - The development of China's health service industry can be divided into four stages: 1. 1949-1990: Health check-ups were primarily hospital services focused on disease detection rather than prevention. 2. 1991-2000: Independent health check-up service institutions began to emerge in cities like Beijing. 3. 2001-2010: The introduction of Western health service concepts and rapid market demand growth led to the fast development of health service institutions. 4. 2011-present: Increased focus on medical information technology and service upgrades has improved the capabilities of health service institutions [4][5]. Relevant Policies - Recent government policies aim to optimize resource allocation, enhance preventive interventions, and improve service accessibility, which helps control the rapid growth of medical costs and reduce the disease burden on families and society. For instance, the National Health Commission issued a notice in February 2025 to address public health concerns and improve service efficiency [6]. Industry Structure and Key Companies - The operational models of health service institutions in China are diverse, including: 1. Hospital-based models leveraging brand and client resources. 2. Independent medical models with self-owned brands and facilities. 3. Health management models centered on health check-ups. 4. Comprehensive information platform models connecting online and offline services [8]. - Major companies in the health service industry include: - Meinian Health Industry Holdings Co., Ltd. - Tongce Medical Co., Ltd. - Ruici Medical Service Holdings Co., Ltd. - Ciming Health Checkup Management Group Co., Ltd. - Aikang Guobin Health Checkup Management Group Co., Ltd. [2][3][9]. Trends in Health Services - The future of health services will focus on personalized and precise care, moving from a "one-size-fits-all" approach to individualized health management based on personal data [11]. - Service delivery will become decentralized, extending beyond traditional healthcare facilities to community and home settings, enhancing accessibility and convenience [12]. - Payment models will evolve from fee-for-service to value-based care, with insurance companies and service providers collaborating to create innovative health products [13].

Core Insights - The hybrid expert model (MoE) is recognized as a "structural revolution" in artificial intelligence, enabling the construction of ultra-large-scale and high-efficiency models through its sparse activation design [1][7] - The market size for China's MoE industry is projected to reach approximately 148 million yuan in 2024, reflecting a year-on-year growth of 43.69% [1][7] - The sparse activation mechanism allows models to scale to trillions of parameters at a significantly lower computational cost compared to traditional dense models, achieving a revolutionary balance between performance, efficiency, and cost [1][7] Industry Overview - MoE is a neural network architecture that enhances performance and efficiency by dynamically integrating multiple specialized sub-models (experts), focusing on a "divide-and-conquer strategy + conditional computation" [2][3] - The core characteristics of MoE include high parameter capacity and low computational cost, activating only a small portion of total parameters to expand model size [2][3] - MoE faces technical challenges such as load balancing, communication overhead among experts, and high memory requirements, while offering advantages like task specificity, flexibility, and efficiency [2][3] Industry Development History - The MoE concept originated from the "adaptive mixture of local experts" theory proposed by Michael Jordan and Geoffrey Hinton in 1991, focusing on efficient collaboration through a gating network [3][4] - Significant advancements occurred in 2017 when Google introduced sparse gating mechanisms in LSTM networks, leading to substantial reductions in computational costs and performance breakthroughs in NLP tasks [3][4] - The MoE technology has rapidly evolved alongside deep learning and big data trends, with notable models like Mistral AI's Mixtral 8x7B and DeepSeek-MoE series pushing the boundaries of performance and efficiency [3][4] Industry Value Chain - The upstream of the MoE industry includes chips, storage media, network devices, and software tools for instruction sets and communication libraries [6] - The midstream focuses on the development and optimization of MoE models, while the downstream applications span natural language processing, computer vision, multimodal large models, and embodied intelligence [6] - The natural language processing market in China is expected to reach approximately 12.6 billion yuan in 2024, growing by 14.55% year-on-year, driven by technological breakthroughs and increasing demand across various sectors [6] Market Size - The MoE industry in China is projected to reach a market size of about 148 million yuan in 2024, with a year-on-year growth rate of 43.69% [1][7] - The technology's advantages are attracting significant investments from research institutions, large tech companies, and AI startups, facilitating the transition from technical prototypes to scalable commercial applications [1][7] Key Company Performance - The MoE industry in China is characterized by a competitive landscape involving "open-source pioneers, large enterprises, and vertical deep-divers," with market concentration undergoing dynamic reshaping [8][9] - Leading companies like Kunlun Wanwei and Tencent are leveraging technological innovation and product advantages to establish a strong market position [8][9] - Kunlun Wanwei launched the first domestic open-source model based on MoE architecture in February 2024, achieving a threefold increase in inference efficiency compared to dense models [9] Industry Development Trends - The demand for multimodal data is driving the integration of MoE architecture with technologies like computer vision and speech recognition, making multimodal MoE models mainstream [10] - Breakthroughs in sparse activation and expert load balancing technologies are enhancing the stability and inference efficiency of large-scale MoE models [11] - The construction of ecosystems around open-source frameworks and domestic computing power is accelerating the large-scale implementation of MoE in various fields [12]

Core Insights - The aerospace digital simulation industry is essential for optimizing aerospace mission plans and has become a necessary choice for countries to gain a competitive edge in space strategy [1][11] - The market size of China's aerospace digital simulation industry is projected to reach 38.5 billion yuan in 2024, an 11% increase year-on-year, and further grow to 42.3 billion yuan in 2025 [1][11] Industry Overview - Aerospace digital simulation is a specialized field within the aerospace industry that combines digital simulation with aerospace engineering, providing a simulated environment for various stages of aerospace missions [4] - The industry can be categorized into different types based on the mission object, including rocket launch simulation, satellite orbit operation solutions, and aircraft flight simulation solutions [5] Industry Barriers - **Technical Barriers**: The industry involves complex technologies across multiple disciplines, requiring deep knowledge and understanding of aerospace dynamics, control, and various technical fields [5] - **Talent Barriers**: There is a limited supply of high-end talent with the necessary expertise and experience in aerospace engineering, making talent reserve a key indicator of a company's core competitiveness [6] - **Qualification Barriers**: Companies must obtain various qualifications to engage in complex aerospace tasks, which creates a high barrier to entry due to the stringent requirements [6] - **Financial Barriers**: The industry requires significant upfront investment and has long return cycles, creating financial barriers for new entrants lacking sufficient funding [7] Industry Chain - The aerospace digital simulation industry has a supply chain that includes hardware (high-performance servers, precision sensors) and software support (algorithm libraries, operating systems) [8] - The downstream demand covers special, civilian, and commercial aerospace sectors, with commercial aerospace being a major application area [8] Competitive Landscape - The industry is becoming increasingly competitive with numerous enterprises emerging across various segments, including major players like China Aerospace Science and Technology Corporation and Beijing Huaru Technology Co., Ltd. [11][12] Development Trends - **Technological Optimization**: Continuous improvement in simulation technology is necessary to handle the complexities of large-scale satellite constellations and their intercommunication [14] - **Increased Demand in Special Fields**: The demand for aerospace digital simulation in special fields is expected to rise due to increased military spending and the modernization of military equipment [15] - **Policy Support**: The Chinese government is expected to introduce policies to promote the development of the aerospace digital simulation industry, creating a favorable environment for growth [16]

上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 2025年1-11月湖北省原保险保费收入共计2241.5亿元，同比增长4.97%，湖北省累计原保险保费收入不 同险种类别中寿险占比最高，为1322.01亿元，占比58.98%。 2020年-2025年1-11月湖北省累计原保险保费收入统计图 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 数据来源：国家金融监督管理总局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

2020年-2025年1-11月湖南省累计原保险保费收入统计图 数据来源：国家金融监督管理总局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 2025年1-11月湖南省原保险保费收入共计1827.25亿元，同比增长5.68%，湖南省累计原保险保费收入不 同险种类别中寿险占比最高，为1046.54亿元，占比57.27%。 ...