Core Viewpoint - The article highlights the significant growth potential in the aerospace and defense sectors in China, driven by the recent policy announcements and the "14th Five-Year Plan" which emphasizes technological self-reliance and the establishment of a modern industrial system [2][8][9]. Market Performance - On October 24, A-shares saw a collective rise, with the Shanghai Composite Index up 0.71% to 3950 points, marking a 10-year high. The Shenzhen Component Index increased by 2.02%, and the ChiNext Index rose by 3.57% [2]. - The aerospace and defense sectors, alongside semiconductor and AI industries, emerged as strong market performers, with the Aerospace ETF (159227) gaining 2.59% and experiencing a significant increase in trading volume [2][4]. Policy Impact - The recent Fourth Plenary Session emphasized the goal of becoming a "strong aerospace nation," marking a strategic shift for the aerospace industry in China [8][9]. - The "14th Five-Year Plan" aims to develop emerging pillar industries, including aerospace, which is expected to create several trillion-yuan markets [9][11]. Industry Growth Projections - The aerospace industry is projected to grow at an average annual rate of over 20% during the "14th Five-Year Plan" period, driven by increased R&D investments in missiles, rockets, and satellites [11]. - The commercial aerospace market in China is expected to reach 2.3 trillion yuan in 2024 and exceed 2.5-2.8 trillion yuan in 2025, with a compound annual growth rate exceeding 20% [20]. Investment Opportunities - The article suggests that the aerospace and defense sectors are closely tied to national five-year plans, indicating that investment strategies should consider the timing of policy announcements and order releases [23]. - The Aerospace ETF (159227) is highlighted as a stable investment option, tracking the National Aerospace Index and comprising a high percentage of defense and aerospace stocks [24][26]. Key Companies - Notable companies in the aerospace sector include AVIC Shenyang Aircraft Corporation, which is the only pure fighter jet listed company in A-shares, and Aero Engine Corporation of China, which supplies engines for major military aircraft [14][15]. - The C919 aircraft has surpassed 1500 orders, indicating strong market recognition and potential for growth in the civil aviation sector [16].

格隆汇新股 存储芯片领域又冲出一家IPO！年入37亿，来自深圳福田 原创 阅读全文 ...

"IntelInside"曾是全球每三台电脑的标配，如今却在五年内历经沉浮：CPU份额被AMD蚕食 12个百分点，先进制程落后台积电两代，AI浪潮中GPU近乎失声。 直到2025年10月24日凌 晨，三季度财报发布后股价一度暴涨9%，为这场寒冬画上休止符——巨头的复兴战，正式打 响。 136.5亿美元营收、40%毛利率、23美分调整后EPS，三项核心数据集体超预期，终结一年半 同比下滑颓势。更关键的是，曾现金流告急的英特尔，如今手握309亿美元现金，美国政府、 英伟达、软银扎堆注资159亿美元。但光鲜背后，是3.5万名员工的离职背影，是产能短缺的 现实困境，更是一场"在时代浪潮中坚守自我"的深刻救赎。 01 偏执狂的迷失： 从"Inside"到"Outside"的二十年 1997年，安迪·格鲁夫在《只有偏执狂才能生存》中警示变革风险。 彼时英特尔凭x86架构垄 断82%的CPU市场，每季度将15%营收投入研发，每年砸数十亿美元建晶圆厂，这种对技术 的敬畏，让它成为PC时代的绝对王者。 2010年代移动互联网兴起，英特尔管理层犯下致命误判： 固守高毛利PC芯片，放弃移动芯片 布局。时任CEO欧德宁"智能手机芯片 ...

ETF进化论 布局"隐形冠军"的ETF来了！ 原创 阅读全文 ...

在过去的三季度，在交付量超预期，FSDV14上线等利好催化下，特斯拉股价上涨了40%。 期间，特斯拉为马斯克奉上万亿美元的天价薪酬，Robotaxi与Optimus这两大业务进度将成为 特斯拉未来市值上升最核心的因素。 当共识凝聚，马斯克画的饼却再一次推迟了。 营收、交付量创新高 仍暗藏隐忧 01 作者 |弗雷迪 数据支持 | 勾股大数 据（www.gogudata.com） 三季度，特斯拉交出营收创新高却利润承压的财报。 营收达281亿美元，同比增长12%、环比增长25%，超此前272.4亿美元预期；但净利润仅 13.73亿美元，同比暴跌37%。 从业务基底看，汽车业务营收212亿美元略超预期的209亿美元，49.7万辆交付量大幅超出卖 方44.4万辆预期，其中美国市场因为IRA补贴退坡掀起抢购潮、中国市场靠ModelYL三排版本 拉动。 储能业务增长也很快，收入34亿美元同比增44%，毛利率31%超预期的27%。服务和其他业 务收入34.8亿美元，同比增长25%。 但为什么净利润会同比下滑这么多？ 特斯拉给出几点原因，首先是公司费用上升显著。 本季度运营支出激增50%至34亿美元，其中研发费用高达16.3 ...

昨晚特拉斯发布25年Q3财报并召开业绩电话会，随后大摩和高盛都发布相关业绩点评研报， 也基本上代表了两种主流市场观点： 可以接受和有些失望。 （核心数据：高盛测算Optimus业务远期估值占比或达特斯拉整体的35%-50%） 电话会最震撼的转折，是马斯克用80%时间谈论AI和机器人，仅用20%讨论汽车业务。这种叙 事重心的迁移绝非偶然——特斯拉正在构建"现实世界AI"的三角生态：FSD自动驾驶算法作为 大脑，Dojo超算中心提供算力，Optimus机器人则化身物理世界的执行终端。 国金证券研报指出，特斯拉机器人战略呈现三级火箭架构：短期（1-2年）靠汽车业务输血， 中期（3-5年）形成FSD+Optimus技术协同，长期（5-10年）实现"机器人即服务"的订阅模 式。这种布局与苹果"iPhone+App Store"的生态打法异曲同工。 值得注意的是，马斯克首次将薪酬方案与机器人战略捆绑（11月6日股东大会将会投票）："如 果我没有20%以上的投票权，对建立机器人军队感到不安"。这番表态暗示，Optimus已从概 念验证阶段升级为公司级战略核心。 02 其中大摩发布了主题为《特斯拉第三季度业绩：普罗米修斯耸了 ...

ETF进化论 但斌最新持仓来了！首次买入阿里巴巴 原创 阅读全文 ...

广东东莞冲出一家IPO，手握26个热门IP，要做零食界的"泡泡玛特"？ 原创 阅读全文 格隆汇新股 ...

Core Viewpoint - The cultivated diamond sector is experiencing a surge in stock prices due to recent export controls on synthetic diamond products, despite the industry's previous struggles with profitability and market challenges [3][4][8]. Group 1: Market Performance - Several companies in the cultivated diamond sector, including Huanghe Xuanfeng and Sifangda, have seen significant stock price increases, with Huanghe Xuanfeng achieving three consecutive trading limits [3][4]. - The superhard materials index has risen by 16.64% since October 9, with companies like Huifeng Diamond and Sifangda seeing stock price increases of over 50% [4]. - Five out of 17 stocks in the cultivated diamond sector have doubled in price this year, with ST Yazhen's stock price increasing nearly 600% from its lowest point [5]. Group 2: Export Controls and Industry Challenges - The recent export controls on synthetic diamond products are seen as a potential lifeline for the struggling cultivated diamond sector, which has faced significant losses in recent years [8][15]. - Companies like ST Yazhen and Huanghe Xuanfeng have reported substantial losses, with ST Yazhen accumulating over 400 million yuan in losses since 2021 [9][12]. - Despite the potential benefits of export controls, there are concerns about their effectiveness in reversing the industry's long-term decline [25][27]. Group 3: Technological and Market Developments - Cultivated diamonds are increasingly being recognized for their applications beyond jewelry, particularly in the semiconductor industry due to their superior thermal conductivity [29][31]. - The diamond market is projected to grow significantly, with estimates suggesting a potential market size increase from $0.5 billion in 2025 to $152.4 billion by 2030, driven by demand in data centers and electric vehicles [37]. - Companies are actively exploring diamond applications in semiconductor cooling solutions, with several firms announcing projects focused on developing diamond materials for this purpose [40][42]. Group 4: Structural Issues and Future Outlook - The cultivated diamond industry in China faces structural challenges, particularly in the high-value processing segment, where India dominates the market [49][50]. - The industry's future growth will depend on technological advancements, market expansion, and collaboration across the supply chain [51].

ETF进化论 突然变天！巨佬减持了 原创 阅读全文 ...