逐新求质，超越增长 2024中国高科技高成长50强及 明日之星报告 2025年1月 前 言 © 2025。欲了解更多信息，请联系德勤中国。 逐新求质，超越增长 3 01 德勤高科技高成长项目背景 "以科技创新引领新质生产力发展，建设现代化产业体系"是2024年中央经济工作会议确定的2025年9大重点任务之一。与2023年中央 经济工作会议提出的"以科技创新引领现代化产业体系建设"相比较，一个新变化就在于更加强调"新质生产力发展"在建设现代化产 业体系中的重要作用。德勤高科技高成长项目拥有30年历史积淀，被誉为"全球高成长企业的标杆"，旨在发掘和表彰中国持续成长、 不断创新、积极承担社会责任的卓越企业。于2024年6月启动的"2024德勤中国高科技高成长50强及明日之星"项目的主题是："逐新 求质、超越增长"，鼓励中国科创企业一方面推动颠覆性科技创新与新产业、新模式、新业态的深度融合，不断逐新求质；另一方面统 筹把握当前和长远的关系，构建内在韧性和发展活力，实现高质量超越式增长。 在此，我们很荣幸与各位分享第二十届"中国高科技高成长50强及明日之星"榜单及CEO调查问卷的结果。今年上榜企业共100家，北京、 深 ...

Investment Rating - The report maintains an optimistic outlook for the Asian economy, predicting growth acceleration in 2018 despite previous concerns about a slowdown [12][16]. Core Insights - The report emphasizes that domestic conditions in major Asian economies, such as China and India, are increasingly favorable for economic growth due to structural reforms and stability [12][20]. - Infrastructure spending is highlighted as a key driver for both short-term economic activity and long-term productivity growth across the region [25][31]. - The ongoing global demand recovery is expected to provide significant momentum for trade-driven economies in Asia, benefiting exports [32][46]. Summary by Sections Domestic Conditions - Many Asian economies are experiencing a rebound in domestic demand, with internal trade being a major driver of export growth [13][20]. - Structural reforms in countries like India and China are yielding positive results, enhancing the overall business environment [20][21]. Infrastructure Investment - Governments across Asia are committing substantial funds to infrastructure projects, particularly in transportation, which will stimulate economic activity [25][34]. - China's Belt and Road Initiative is a significant infrastructure project aimed at improving trade links between Asia and Europe, with several agreements already signed [25][73]. Global Demand Recovery - The global economy is showing signs of recovery, with over 75% of economies experiencing growth, which is expected to accelerate [32][33]. - The report notes that the revival of global trade is benefiting Asian manufacturers, with increased demand for exports [46][47].

Investment Rating - The report indicates a positive outlook for the commercial real estate industry, suggesting a potential recovery in 2025 after two years of revenue decline and expenditure cuts [4][10]. Core Insights - The commercial real estate sector is expected to experience a turning point in 2025, driven by economic recovery and a shift in investment strategies towards sustainable and technology-driven solutions [4][20]. - A significant majority of respondents (88%) anticipate an increase in revenue for 2024, marking a notable shift in sentiment compared to previous years [10]. - The report highlights the importance of adapting to emerging technologies, particularly artificial intelligence, and the need for companies to enhance their digital capabilities [4][10]. Summary by Sections Global Economic Growth and Inflation - The rebound of the commercial real estate industry is closely tied to global interest rate trends, with expectations of a more stable economic environment in the next 12 to 18 months [7][9]. - Economic growth forecasts for various regions indicate a mixed recovery, with the U.S. expected to see a decline in GDP growth rate by 1.3 percentage points in 2025 [8][9]. Investment Focus Areas for 2025 - Respondents indicated a shift in focus towards high-growth segments such as industrial/manufacturing real estate, multi-family housing, and logistics/warehouse properties, reflecting changing market dynamics [20][30]. - The report notes that 68% of respondents expect improvements in capital costs and availability, a significant increase from previous years [21][25]. Climate Resilience and Financial Viability - The report emphasizes the need for deep energy retrofits in existing buildings to meet climate goals, with 76% of respondents planning such initiatives in the next 12 to 18 months [49][50]. - There is a growing recognition of the financial implications of sustainability strategies, with 36% of respondents adopting a balanced approach to sustainable investments [51][53]. Talent Attraction and AI Readiness - The commercial real estate industry is focusing on attracting the next generation of talent by addressing their concerns and enhancing skill development [4][20]. - The readiness to embrace artificial intelligence solutions is seen as crucial for the industry's transformation, with a majority of respondents indicating plans to invest in data and technology [10][19].

2025 年技术趋势 在德勤第十六年度科技趋势报告中，人工 智能几乎贯穿了每一个趋势。未来，它将 成为我们所有工作的基础结构的一部分。 2025 年技术趋势 i 02 . . . 执行摘要 目录 05 . . . INTRODUCTION AI 无处不在 ： 像魔法 ， 但有算法 09 . . . 交互 空间计算占据中心舞台 17 . . . 信息 AI 的下一步是什么 ？ 27 . . . Computation 硬件正在吞噬世界 技术业务 37 ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． 新的数学 ： 在量子时代解决密码学 网络和信任 53. 智能核心 ： AI 为核心现代化改变一切 核心现代化 60 . . . Conclusion 广度是新的深度 ： 有意相交 ...

Tech Trends 2025 In Deloitte's 16th annual Tech Trends report, 在德勤(Deloitte）的第16份年度科技趋势 2025年技术趋势 报告中，人工智能是几乎所有趋势的共同 AI is the common thread of nearly every trend. Moving forward, it will be part of the substructure of everything we do. 主线。展望未来，它将成为我们一切工作 的一部分。 德勤。 洞察力 i Tech Trends 2025 | 02 . . . Executive summary | | | --- | --- | | 02..行动纲要 | | | INTRODUCTION 介绍 | Table of contents | | 05 . . . AI everywhere: Like magic, but with algorithms | | | 05...尔无处不在：像魔术一样，但有算法 | | | INTERACTION | | | 互动 09 . . . ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The investment management industry is expected to face significant risks and opportunities in 2025, with a focus on revenue growth, process efficiency, and risk management as key priorities for management [4] - The integration of emerging technologies like generative AI is anticipated to enhance efficiency and yield substantial returns for institutions that effectively adopt these technologies [4] - The shift towards low-cost funds is becoming the norm, with active ETFs emerging as a new home for active products [15][31] - The report highlights the importance of diversifying product lines by incorporating alternative investment products and leveraging technology investments to integrate AI into sales and distribution strategies [15][52] Summary by Sections Current Performance Trends Indicating Structural Adjustments - The investment management industry has experienced mixed results, with alternative investment inflows slowing and mutual funds continuing to see outflows, while ETFs are gaining momentum [23] - In the past five years, passive ETFs have seen cumulative net inflows of $2.5 trillion, with a CAGR of 18%, while active mutual funds have faced cumulative net outflows of $2.6 trillion [24][25] - The rise of low-cost ETFs is significantly impacting the market share of mutual funds, with a notable shift of funds from mutual funds to ETFs due to their flexibility, transparency, and tax efficiency [25][26] Product and Distribution Innovations Driving Asset Management Growth - The report emphasizes that the most effective revenue growth strategies include adding alternative investment products and integrating AI technology into sales and distribution [15][52] - Private credit assets are experiencing double-digit growth, with their scale exceeding $2.1 trillion in 2023, indicating a strong demand for alternative investments [36] - The report notes that traditional and alternative investment management companies are increasingly collaborating with third-party research platforms to provide educational resources for financial advisors [39] AI Deployment from Concept to Practice - Investment management companies are actively developing generative AI solutions to enhance operational efficiency and customer satisfaction [66] - The report identifies that while many firms are exploring AI applications, only 11% have implemented them on a large scale, indicating room for growth in AI utilization [40] - Successful AI deployment requires a focus on practicality, risk assessment, and the integration of AI into existing operational frameworks [67]

Investment Rating - The report does not explicitly provide an investment rating for the investment management industry Core Insights - The investment management industry is expected to face significant risks and opportunities in 2025, with a focus on digital transformation and the integration of AI technologies [10][28][86] - The shift towards low-cost investment products, particularly ETFs, is reshaping the competitive landscape, with active mutual funds experiencing significant outflows [14][34] - The growth of alternative investments, such as private credit and evergreen funds, is anticipated to drive asset management scale [22][41] Summary by Sections Current Performance Trends - The investment management industry is experiencing mixed results, with alternative investments slowing down and ETFs gaining momentum [11][12] - Active mutual funds have seen net outflows exceeding $1.8 trillion over the past two years, while passive investment vehicles continue to attract capital [14][15] Product and Distribution Innovations - The report highlights the importance of incorporating alternative investment products and leveraging technology, particularly AI, to enhance sales and distribution strategies [3][53] - Private credit assets have surpassed $2.1 trillion in 2023, with a double-digit growth rate expected to continue [22][41] - The rise of evergreen funds is diversifying the investment landscape, with significant growth in the number of funds available [22][41] AI Deployment and Digital Transformation - Investment management firms are increasingly adopting AI technologies to improve operational efficiency and customer engagement [24][42] - The report notes that while many firms are exploring AI applications, only a small percentage have implemented them on a large scale [24][45] - Successful integration of AI is expected to differentiate firms in terms of revenue growth and operational efficiency [28][86] Risks and Challenges - The industry faces rising risks associated with digital transformation, including cybersecurity threats and regulatory pressures [48][64] - The shift towards direct indexing and separately managed accounts (SMAs) poses strategic and financial risks for traditional investment management firms [84] - Mergers and acquisitions are being utilized to counteract the risks of disintermediation and to enhance product offerings [84]

Investment Rating - The report indicates a positive outlook for the travel industry, particularly for high-income and younger travelers, suggesting potential investment opportunities in travel-related sectors [6][7][11]. Core Insights - The 2024 holiday travel season is expected to see an increase in both the number of trips and spending compared to 2023, with 49% of Americans planning to travel, up from 48% [29][130]. - High-income Americans are driving the increase in travel spending, with 35% planning to take three or more trips, compared to 19% in 2023 [7][11]. - The average number of trips planned has risen from 1.88 in 2023 to 2.14 in 2024, indicating a trend towards longer and more frequent travel [51][130]. Summary by Sections Travel Incidence and Spending - The percentage of travelers planning to significantly increase their budget for their longest trip has jumped to 28%, up from 18% in 2023, with millennials and high-income individuals leading this trend [11][55]. - High-income travelers are expected to account for over half of paid lodging travelers, increasing from 43% in 2023 to 52% in 2024 [12][50]. Travel Characteristics - Travelers are increasingly opting for upgraded experiences, with a notable rise in spending on upgraded airfare and luxurious lodging [20][41]. - The share of travelers planning at least one trip of a week or longer has reached its highest point in four years, reflecting a shift towards longer vacations [76]. Generational and Income Trends - Gen Z's share of holiday travelers has increased from 8% in 2023 to 14% in 2024, while 45% of travelers have a household income of over $100K, up from 38% [26][48]. - Millennials are particularly inclined to increase their travel budgets, with 39% planning to spend more this holiday season [11][55]. Travel Booking and Research - There is a notable shift in how travelers are booking their trips, with fewer intending to use online travel agencies (OTAs) and a growing interest in booking directly through airlines [139][161]. - The use of social media and generative AI tools for trip planning has increased significantly, especially among younger generations [100][102].

Deloitte. Is Generative AI changing the game for medtech? To assess where medtech companies have realized value2 from AI and GenAI and what could be next, the Deloitte Center for Health Solutions surveyed 85 leaders from medtech organizations during the summer of 2024 and conducted follow-up interviews. We found that: Is Generative AI changing the game for medtech? 4 Using AI to transform processes is not new to medtech organizations (see sidebar, "AI in action at medtech companies"). But beyond this anecdo ...

Group 1 - The report rates the automotive electronics industry as a high-growth sector, particularly focusing on smart cockpit technologies [1][2] - The core viewpoint emphasizes the increasing demand for high-end automotive displays, especially in the context of the rapid growth of new energy vehicles in China, with a notable milestone of 10 million annual production [1][2] - The report highlights the company's position as a leading supplier of in-car display components for major automotive brands, including NIO and Li Auto, showcasing its strong market presence and strategic partnerships [2] Group 2 - The report identifies the biotechnology sector, particularly in nucleosides and nucleotides, as a rapidly evolving field with significant growth potential [6][7] - The core viewpoint stresses the company's commitment to addressing domestic gaps in sugar science and nucleic acid synthesis, leveraging advanced technologies to enhance production efficiency and product quality [6][7] - The report notes the company's achievements in establishing a comprehensive enzyme synthesis platform and its recognition as a high-tech enterprise, indicating a strong competitive position in the market [7] Group 3 - The report highlights the environmental technology sector, particularly in water treatment and soil remediation, as a critical area for innovation and investment [33][34] - The core viewpoint emphasizes the company's advanced technologies and certifications, which position it as a leader in environmental solutions [33][34] - The report mentions the company's successful projects and recognition from government bodies, indicating its strong reputation and operational capabilities in the environmental sector [34] Group 4 - The report discusses the advancements in optical sensing technology, particularly in high-precision gas sensors and optical analysis instruments, as a growing market segment [65][66] - The core viewpoint underscores the company's focus on innovation and its commitment to developing cutting-edge technologies for various industrial applications [65][66] - The report highlights the company's achievements in obtaining numerous patents and certifications, reflecting its strong R&D capabilities and market leadership [66] Group 5 - The report identifies the semiconductor industry, particularly in integrated circuit design, as a key area for growth and investment [70][71] - The core viewpoint emphasizes the company's expertise in analog and mixed-signal ICs, which are essential for various applications across multiple sectors [70][71] - The report notes the company's strategic partnerships and market reach, indicating its potential for expansion and innovation in the semiconductor space [71]