（1）人机交互与协同：外骨骼通过传感器实时感知人体运动意图，并通过算法预测动作，精准辅助人体运动。 以下文章来源于RimeData 来觅数据 ，作者来觅研究院 RimeData 来觅数据 . 全面的一级市场数据平台 导读： 2025年五一假期期间，泰山、黄山、恩施大峡谷等多个景区为游客提供外骨骼机器人租赁服务，为游客提升旅行体验，受到广泛青 睐，并在社媒平台引发热议。近两年来，随着机器人与人工智能相关技术不断进步，外骨骼机器人的应用场景正不断拓宽，吸引市场关 注。外骨骼机器人有何特点？应用前景如何？赛道投融资情况如何？本文尝试分析和探讨。 01 外骨骼机器人特点 外骨骼机器人是一种结合外骨骼 结构和机器人技术的可穿戴智能设备，通过与人体运动系统的协同工作，增强或恢复人体的运动能力，其本质 是一种人机协作系统，帮助使用者完成更高效、更安全的动作，同时减轻体力负担。外骨骼机器人的主要特点如下： （2）轻量化与舒适性：采用碳纤维、钛合金等轻质材料，降低设备重量，便于携带和穿戴。 （3）智能化与自适应性：通过AI算法，外骨骼可学习用户习惯，动态调整辅助策略，例如智能识别用户是在平地行走还是爬楼梯，切换至不同 动力模式 ...

央行、外汇局联合发布《关于境内企业境外上市资金管理有关问题的通知（征求意见稿）》（以下简称 《征求意见稿》），进一步优化境内企业境外上市资金管理政策。 这一政策的出台，被视为中国资本市场高水平开放的又一重要举措。数据显示，今年以来有 5 家 A 股 公司成功在港交所上市，创近年新高，与此同时，还有数十家公司排队待发。 业内人士表示，随着《征求意见稿》的落地， A 股公司赴港上市的政策障碍进一步减少，预计 2025 年 下半年将迎来更多 "A+H" 案例。 // 政策核心要点 // 根据《征求意见稿》，境外上市募集资金、减持或转让股份等所得可以外币或人民币调回，相关资金均 可使用资本项目结算账户汇出入。以人民币调回的，还可使用境内企业人民币银行结算账户。境外上市 募集资金以外币调回的可自主结汇使用。境外上市募集资金、减持或转让股份所得资金原则上应汇回境 内，股东因增持汇出资金如有剩余或交易未达成时，应及时汇回境内。 政策核心要点如下： 资金调回更灵活： 企业可选择外币或人民币形式调回境外上市募资及减持收益，降低汇率风险。 结算账户选择多样化： 除资本项目结算账户外，人民币资金还可通过境内企业人民币银行结算账户汇 ...

// 欧美全线跳水 // 受特朗普言论影响，欧美股市跌幅扩大，截至发稿，纳指期货、标普 500 指数期货跌超 1% 。英国富时100 指数、德国 DAX 指数、法国 CAC40 指数跌超 1% 。 5月23日，美国总统特朗普 在其社交媒体上表示，建议自2025年 6 月 1 日起对欧盟直接征收 50% 的关税。 资金涌向避险资产，黄金直线暴涨，截至发稿，现货黄金日内涨超1.7%。 | W | | | 伦敦金现 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | SPTAUUSDOZ.IDC | | | | | | | 3350.970 | | 昨结 | 3294.490 | | 开盘 | | 3294.420 | | | +56.480 | +1.71% | 总量(kg) | 0.00 | | 现手 | | | 0 | | 最高价 | 3355.430 | 持 仓 | | 0 | 2 | 當 | 0.000 | | | 最低价 | 3286.765 | 增 仓 | 0 | | 内 | 花 | 0.000 | | ...

// 债市综述 // 1. 公开市场操作 央行 5 月 22 日以固定利率、数量招标方式开展了 1545 亿元 7 天期逆回购操作，操作利率 1.40% ，投标量 1545 亿元，中标量 1545 亿元。 Wind 数据显示，当日 645 亿元逆回购到期，据此计 算，单日净投放 900 亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 （IMM） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） 3. 同业存单 全国和主要股份制银行一年期同业存单二级市场上最新成交在 1.69% 附近，较上日变化不大。 4. 银行间主要利率债收益率 | | 1Y | | 2Y | | ЗУ | | SY | | 7Y | | 10Y | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 国際 | 1.4450 0.25 | 54 | 1.4750 0.25 | 63 | 1.4910 -0.30 | 108 | 1.5340 0.00 | 217 | 1.6125 0.00 | 424 ...

Core Insights - As of the end of 2024, the number of private securities investment funds reached 87,833, with 6,386 new funds registered in 2024. The total assets under management amounted to 5.21 trillion yuan, with 8,000 active private fund managers and 88 managers overseeing over 10 billion yuan [1]. Group 1: Private Fund Development - The private fund industry is experiencing robust growth, as evidenced by the significant number of new registrations and the total assets under management [1]. - The eighth "Wind Strongest Private Fund" selection results were announced, featuring 16 categories based on various strategies and performance metrics [1]. Group 2: Award Winners - Notable private fund managers recognized for their innovative strategies include Nanjing Beiyang Private Fund Management Co., Ltd., and Shanghai Qincheng Private Fund Management Partnership [4][5]. - The selection process for the "Wind Strongest Private Fund" involved criteria such as the requirement for managers to have a minimum of 1 billion yuan in self-managed assets and to provide complete and accurate information [13][14]. Group 3: Strategy Categories - Various strategy categories were highlighted, including quantitative stock selection, market-neutral strategies, and macro strategies, with specific firms excelling in each category [6][7][8][9][11]. - The rankings were based on the performance of products over the past three years, considering factors like long-term performance, asset management scale, and operational status [14]. Group 4: User Engagement - Users can access the "Wind Private Fund Database" to view the award-winning institutions for 2024 and generate shareable content [12]. - The platform provides comprehensive data coverage on private funds, including net asset values and performance metrics [15].

Group 1 - The Ministry of Commerce of China responded to the U.S. export controls on artificial intelligence chips, stating that the U.S. is abusing export controls to suppress China, which violates international law and harms Chinese enterprises' legitimate rights [3] - The Central Cyberspace Administration of China is guiding platforms like Douyin and Xiaohongshu to optimize their algorithm recommendations to address issues such as the promotion of vulgar content and the exacerbation of information silos [22] - The National Development and Reform Commission (NDRC) is conducting research on the photovoltaic industry in Henan and Jiangsu provinces to understand the development and operational conditions of the industry [21] Group 2 - The China Tourism Association highlighted a paradox in the tourism market, where despite an active market with over 3,000 more scenic spots than in 2019, the average income per scenic spot has decreased by 40%, indicating an oversupply of homogeneous products [24] - The company Gome Electrical Appliances announced new major enforcement cases and was listed as a dishonest executor, which negatively impacts its debt repayment capacity [7] - The company融信（福建）投资集团有限公司 reported new enforcement cases with a total amount of approximately 16.331 billion yuan, indicating significant financial distress [9]

Group 1 - The People's Bank of China will conduct a 500 billion MLF operation with a one-year term, resulting in a net injection of 3.75 trillion MLF in May, supporting new credit and social financing growth [2] - The U.S. tax reform plan passed the House with a slight majority, aiming to reduce taxes by over 4 trillion USD over ten years and increase the debt ceiling by 4 trillion USD [2] - Xiaomi launched three new products featuring its self-developed chips and introduced its first SUV model, the Xiaomi YU7, which will be launched in July [2] Group 2 - BYD's monthly sales in Europe surpassed Tesla for the first time, with a 169% year-on-year increase in electric vehicle registrations [3] - The Chinese government is implementing measures to accelerate the development of a technology finance system, including supporting technology insurance and issuing innovation bonds [4] - China's direct foreign investment from January to April reached 57.54 billion USD, a 7.5% year-on-year increase [4] Group 3 - The China Securities Regulatory Commission is optimizing the environment for domestic listings of technology companies and will implement a more flexible new stock issuance mechanism [5] - The A-share market saw a decline, with the Shanghai Composite Index closing down 0.22% at 3380.19 points [5] - Hong Kong's stock indices experienced a significant pullback, with the Hang Seng Index closing down 1.19% [5] Group 4 - Lenovo reported a 23% year-on-year increase in revenue for the fourth fiscal quarter, reaching 16.984 billion USD, with all main business segments achieving double-digit growth [6] - The MSCI announced that CATL's H-shares will be included in the MSCI Global Standard Index starting June 2 [6] Group 5 - The National Energy Administration reported that China's total installed power generation capacity reached 3.49 billion kilowatts by the end of April, a 15.9% year-on-year increase [9] - The Beijing humanoid robot innovation center released the world's first standard for humanoid robot intelligence classification [9] - The China Automotive Engineering Society published a group standard for all-solid-state batteries, clarifying definitions and testing methods [9] Group 6 - The top 100 real estate companies in China have seen a 13% decrease in total land reserve value, amounting to 25.23 trillion CNY by the end of 2024 [10] - In May, China's retail sales of narrow passenger vehicles are estimated to be around 1.85 million units, with a year-on-year growth of 8.5% [10] Group 7 - Apple plans to launch smart glasses by the end of 2026, while halting the development of a smart watch with built-in camera capabilities [11] - OpenAI announced plans to build the world's largest AI data center in Abu Dhabi, with a total capacity of 5GW [11] Group 8 - The U.S. Department of Justice is investigating Google's agreement with Character.AI for potential antitrust violations [12] - Walmart plans to lay off approximately 1,500 employees to reduce costs amid supply chain challenges [12] Group 9 - The Federal Reserve's Waller indicated that if tariffs stabilize at around 10%, interest rate cuts may occur in late 2025 [13] - The U.S. manufacturing PMI rose to a three-month high of 52.3 in May, while the services PMI also reached a two-month high [13] Group 10 - The eurozone's manufacturing PMI slightly improved to 49.2 in May, but the services PMI unexpectedly dropped to 48.9, indicating economic contraction [15] - Japan's core machinery orders saw a significant year-on-year increase of 13% in March, raising expectations for further interest rate hikes [15]

Core Viewpoint - The article highlights the collaboration between Wind and the Hong Kong China Asset Management Association (HKCAMA) to provide transparent and accurate performance data for offshore Chinese public funds, which has garnered significant attention from mainland investors and media [1]. Fund Performance Rankings Equity Funds - **Five-Year Performance**: The top-performing equity fund is the Bank of China Hong Kong Global Equity Fund A-USD with a return of 92.00%, followed by the Fuguo China Small Cap Growth Fund 1-USD with 79.83% [2]. - **Three-Year Performance**: The Bank of China Hong Kong Value Fund A-HKD has a return of 26.51%, ranking first [3]. - **One-Year Performance**: The Ruiyuan China Equity Fund I-HKD leads with a return of 63.59% [4]. Passive Index Funds - **Five-Year Performance**: The Bank of China Hong Kong North America Index Fund A-HKD has the highest return at 128.99% [5]. - **Three-Year Performance**: The Bank of China Hong Kong S&P 500 Index Fund A-HKD has a return of 26.53% [6]. - **One-Year Performance**: The Bank of China Hong Kong Asia Pacific (excluding Japan) Index Fund A-HKD leads with a return of 9.07% [7]. Bond Funds - **Five-Year Performance**: The Huaxia Selected Asian Bond Fund I-USD has a return of 36.21% [8]. - **Three-Year Performance**: The Taikang Kaitai Overseas Short-Term Bond Fund I-USD has a return of 28.23% [9]. - **One-Year Performance**: The Huaxia Selected Asian Bond Fund I-USD leads with a return of 12.03% [10]. Mixed Funds - **Five-Year Performance**: The Bank of China Hong Kong All-Weather Global Investment Fund A1-USD has a return of 61.95% [11]. - **Three-Year Performance**: The Bank of China Hong Kong All-Weather Global Investment Fund A1-USD leads with a return of 41.35% [12]. - **One-Year Performance**: The Bank of China Hong Kong Hong Kong Income Fund A-HKD has a return of 30.43% [12]. Money Market Funds (USD) - **Five-Year Performance**: The Dacheng Money Market Fund M-USD has a return of 16.25% [14]. - **Three-Year Performance**: The Ping An Money Fund I-USD has a return of 14.96% [16]. - **One-Year Performance**: The Taikang Kaitai USD Money Fund M-USD has a return of 5.43% [17]. Money Market Funds (HKD) - **Five-Year Performance**: The E Fund (Hong Kong) HKD Money Market Fund I-HKD has a return of 12.93% [19]. - **Three-Year Performance**: The Taikang Kaitai HKD Money Fund M-HKD has a return of 12.75% [21]. - **One-Year Performance**: The Taikang Kaitai HKD Money Fund M-HKD has a return of 4.51% [22]. Greater China Funds - **Five-Year Performance**: The Fuguo China Small Cap Growth Fund 1-USD has a return of 79.83% [24]. - **Three-Year Performance**: The Bank of China Hong Kong Value Fund A-HKD has a return of 26.51% [27]. - **One-Year Performance**: The Bank of China Hong Kong Hong Kong Income Fund A-HKD has a return of 30.43% [12]. Overseas Market Funds - **Five-Year Performance**: The Bank of China Hong Kong North America Index Fund A-HKD has a return of 128.99% [31]. - **Three-Year Performance**: The Bank of China Hong Kong S&P 500 Index Fund A-HKD has a return of 26.53% [33]. - **One-Year Performance**: The Huaxia China Opportunity Fund A-USD has a return of 37.71% [35]. ETF and Leveraged Products - **ETF Daily Average Trading Volume (Five-Year)**: The Huaxia CSI 300 Index ETF leads with an average daily trading volume of 256.79 million HKD [43]. - **Leveraged Products Daily Average Trading Volume (Five-Year)**: The Southbound East Asia Hang Seng Index Daily Inverse (-2x) Product leads with an average daily trading volume of 478.50 million HKD [51].

以下文章来源于RimeData 来觅数据 ，作者来觅研究院 RimeData 来觅数据 . 全面的一级市场数据平台 | 技术路径 | 原理 | 优缺点 | 代表 | | --- | --- | --- | --- | | 磁约束核聚变 | 利用强磁场将高温等离子体约束在环形真空优势在于物理基础成熟、稳态运行潜力大, ITER 国际热核实验 | | | | 室内，避免其与容器壁接触,是目前被认为但挑战在于装置规模庞大目等离子体不稳定堆、中国聚变工程试 | | | | | 最有可能实现可控核聚变发电的途径。 | | 性（如托卡马克中的破裂）需主动控制 | 验堆(CFETR) | | 悟性约束的优点是物理过程快(脉冲级别), | | 通过激光或粒子束瞬间加热并压缩燃料靶 不需要长时间稳定等离子体。缺点是能量利 | 美国国家点火装置 | | 惯性约束核聚变 丸,利用燃料自身的惯性来实现高温高压条用效率低(目前激光能量耦合效率仅约1%, | | | | | 件,使靶丸内部的燃料达到聚变条件。 | | 远低干商用所需的 10%~20%) ,目車复频 | (NIF) | | 率和靶丸制造供应是巨大工程挑战。 | | | | ...

1、 由于投资者对大规模减税法案感到不安，美国遭股债汇"三杀"。 5月21日，美国三大股指全线收跌，道指跌1.91%，标普500指数跌1.61%，纳指跌 1.41%。当日20年期美国国债拍卖结果弱于预期，表明投资者可能对购买政府债务的需求疲软，随后收益率走高。美国十年期国债收益率飙升至4.6%上 方，为二月份以来的最高水平。美国国债收益率持续上升，部分原因是投资者担心目前正在考虑的减税措施可能会使美国政府债务增加数万亿美元。美元 指数也在当天一度跌0.56%，尾盘跌幅收窄。 2、 美国企图全球禁用中国先进计算芯片，商务部新闻发言人对此发表谈话强调，美方措施涉嫌构成对中国企业采取的歧视性限制措施。 任何组织和个人 执行或协助执行美方措施，将涉嫌违反《中华人民共和国反外国制裁法》等法律法规，须承担相应法律责任。中方密切关注美方措施执行情况，将采取坚 决措施维护自身正当权益。 3、 平安银行、中信银行、兴业银行、浦发银行、民生银行、广发银行、华夏银行等7家银行跟进下调存款利率， 中长期存款利率仍是各家银行重点调整 的对象，3年期、5年期定期存款利率均下调25BP，有银行甚至暂停推出5年期定期存款。部分银行大额存单利 ...