Nisco(SH:600282) Yang Shi Xin Wen Ke Hu Duan·2025-10-18 03:05Group 1: Achievements in Manufacturing and Shipbuilding - During the "14th Five-Year Plan" period, China's manufacturing industry has shown significant growth, with total industrial added value increasing from 31.3 trillion yuan to 40.5 trillion yuan, and manufacturing added value rising from 26.6 trillion yuan to 33.6 trillion yuan [3][4] - The construction of large cruise ships is a comprehensive test of a country's shipbuilding capabilities, with China forming a design and construction capability for large cruise ships and establishing a Chinese standard system for the cruise industry [2] - The successful launch of the domestically produced electromagnetic aircraft carrier Fujian marks a new height in China's naval equipment capabilities, while large LNG carriers have gained a leading position in the global market [2] Group 2: Innovation and Transformation in Manufacturing - Innovation is the primary driving force for China's manufacturing transformation, with R&D expenditure in large-scale manufacturing enterprises exceeding 1.6% of operating income [5] - The transition from "manufacturing" to "intelligent manufacturing" is evident, with over 50% of new industrial robot installations globally occurring in China [8] - The integration of digital and physical economies is a notable feature of high-quality development during the "14th Five-Year Plan," with over 459.8 million 5G base stations established [7][8] Group 3: Role of SMEs and Specialized Enterprises - Over 10,000 specialized and innovative SMEs have been added since the "14th Five-Year Plan," contributing significantly to employment, with over 128 million workers in scale SMEs [11] - Specialized and innovative enterprises are crucial for industrial development and are seen as the backbone of the economy, enhancing the stability and safety of industrial and supply chains [10][11] - The number of registered SMEs in China has exceeded 60 million, with an average annual increase of over 4 million since 2021, indicating a robust growth in this sector [10]