五部委联合发文夯实低空"数字底座"，沃飞长空完成近 10 亿新 一轮融资 [Table_Industry] 机械制造业 [Table_Invest] 评级： 增持 | | | | ——低空经济行业月报 | | --- | --- | --- | --- | | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | 肖群稀(分析师) | 0755-23976830 | xiaoqunxi@gtht.com | S0880522120001 | | 黄龙(分析师) | 021-38031028 | huanglong@gtht.com | S0880525070027 | 本报告导读： 上月（2026/2/1-2026/2/28）低空经济领域动态：1）五部委联合发文夯实低空"数字 底座"，三部门发文推动低空保险高质量发展；2）"电鹰飞车"亮相湖北"新春第一 会"；3）沃飞长空完成近 10 亿新一轮融资。 投资要点： [Table_Report] 相关报告 机械制造业《长十梦舟联手告捷，火箭运力瓶颈 有望加速突破》2026.02.13 机械制造业《船舶月度跟踪：1 月船舶价格结构 分化，新船 ...

丨证券研究报告丨 行业研究丨专题报告丨环保 [Table_Title] 2025Q4 基金持仓：板块持仓上升，关注经营向 好&绝对收益龙头 报告要点 [Table_Summary] 2025Q4 环保前十大重仓持仓市值合计约 71.57 亿元，占全部披露基金产品股票持仓的 0.19%， 环比上升 0.05pct；若剔除港股标的，A 股环保板块重仓持仓比例为 0.18%。2025Q4 末 A 股 环保行业标配比例为 0.94%，当前处于低配状态。2025Q4 末公募基金重仓市值靠前的为华测 检测（14.0 亿元）、伟明环保（13.7 亿元）、瀚蓝环境（9.7 亿元）、上海洗霸（5.0 亿元）、兴蓉 环境（4.1 亿元）等。 分析师及联系人 [Table_Author] SAC：S0490517090001 SAC：S0490520070003 SAC：S0490524080004 SAC：S0490525070006 SFC：BUV415 徐科 贾少波 李博文 盛意 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com [Table_Title 2025Q4 基金持仓：板块 ...

Investment Rating - The report maintains a rating of "Overweight" for the mechanical equipment industry [1] Core Insights - The report highlights investment opportunities in the AIDC and solar power sectors due to electricity shortages in North America, as well as historical opportunities in advanced packaging equipment for semiconductors [1][2][3][4] Summary by Sections Investment Recommendations - Recommended companies include: Northern Huachuang, SANY Heavy Industry, Zhongwei Company, Hengli Hydraulic, CIMC, Tuojing Technology, Haitian International, Bichu Electronics, Jingsheng Mechanical, Jereh, Zhejiang Dingli, Hangcha Group, Xianjin Intelligent, Changchuan Technology, Huace Detection, Anhui Helix, Jingce Electronics, Nuwei Co., Chip Source Micro, Green Harmonics, Haitian Precision, Hangke Technology, Yizhiming, New Lai Materials, and High Measurement Shares [1] Gas Turbine Sector - The report notes that President Trump encourages large companies to build their own power sources, which is expected to boost demand for natural gas power generation equipment. The domestic gas turbine industry is highlighted as having significant investment opportunities, particularly for companies like Jereh, Dongfang Electric, and Yingliu [2] Photovoltaic Equipment - The report emphasizes the growing demand for solar power in both terrestrial and space computing applications, with Tesla planning to expand its solar capacity significantly by 2028. Companies recommended in this sector include Maiwei Shares, Jingsheng Mechanical, High Measurement Shares, and Aotwei [3] Semiconductor Equipment - The report discusses the benefits for domestic equipment manufacturers due to rising tensions between China and Japan, which favor local alternatives. Companies like Changchuan Technology, Chip Source Micro, and Maiwei are highlighted as key players benefiting from this trend [4] PCB Equipment and Liquid Cooling - NVIDIA's strong performance is noted, with significant revenue growth indicating robust demand for computing power. The report suggests investment opportunities in the PCB and liquid cooling supply chains, recommending companies like Dazhu CNC, Chip Source Micro, and Yinguang Technology [5][6] Robotics Industry - The report indicates a recent pullback in the robotics sector but suggests that upcoming events, such as the release of Tesla's V3 robot, could catalyze growth. Companies like Hengli Hydraulic and Sanhua Intelligent are recommended as key players [10] Oil and Gas Equipment - The report identifies the Middle East as a core market for oil services, with companies like Jereh and Nuwei highlighted for their growth potential in this region [43]

证券研究报告·行业跟踪周报·机械设备 机械设备行业跟踪周报 看好北美缺电带来的 AIDC 和太空算力光伏 设备机会&关注半导体先进封装设备历史性 机遇 增持（维持） [Table_Tag] [1.Table_Summary] 推荐组合：北方华创、三一重工、中微公司、恒立液压、中集集团、拓荆科技、海天 国际、柏楚电子、晶盛机电、杰瑞股份、浙江鼎力、杭叉集团、先导智能、长川科技、 华测检测、安徽合力、精测电子、纽威股份、芯源微、绿的谐波、海天精工、杭可科 技、伊之密、新莱应材、高测股份、纽威数控、华中数控。 【燃气轮机】特朗普鼓励大厂自建电源，重申国产燃机产业链投资机会 2026 年 2 月 6 日，CNBC 报道称美国总统特朗普将与亚马逊、谷歌、Meta、微软等大型科技公司 高管在白宫会面，并计划于 3 月 4 日签署相关协议，要求在保障 AIDC 持续发展的同时由企业自 行解决电力供应问题，利好天然气发电设备需求，加快项目落地速度。严重的供需失衡环节，重 申国产燃机产业链投资机会：1）GEV/西门子/三菱重工上游零部件扩产难度大，到 2030 年板块 合计产能约 90GW，仍小于总需求；2）产能不足限制美国链 ...

2月27日，华测检测盘中上涨2.01%，截至09:48，报16.27元/股，成交1.09亿元，换手率0.47%，总市值 273.80亿元。 资金流向方面，主力资金净流入1190.66万元，特大单买入436.10万元，占比3.99%，卖出0.00元，占比 0.00%；大单买入2665.62万元，占比24.39%，卖出1911.06万元，占比17.49%。 分红方面，华测检测A股上市后累计派现11.61亿元。近三年，累计派现5.19亿元。 机构持仓方面，截止2025年9月30日，华测检测十大流通股东中，香港中央结算有限公司位居第一大流 通股东，持股2.89亿股，相比上期增加2081.59万股。易方达创业板ETF（159915）位居第三大流通股 东，持股2988.96万股，相比上期减少503.01万股。南方中证500ETF（510500）位居第四大流通股东， 持股2450.01万股，相比上期减少44.44万股。嘉实新兴产业股票（000751）位居第七大流通股东，持股 1377.25万股，相比上期减少221.56万股。嘉实核心成长混合A（010186）退出十大流通股东之列。 声明：市场有风险，投资需谨慎。本文基于第三 ...

Core Viewpoint - The electromagnetic compatibility (EMC) testing industry in China is experiencing steady growth driven by regulatory improvements, expanding market demand across various sectors, and increasing compliance requirements from both domestic and international markets [1][4][5]. Market Overview - The regulatory framework for EMC testing in China has expanded from traditional consumer electronics to include diverse sectors such as automotive, new energy, medical, rail transportation, and aerospace [1][4]. - The market size of the EMC testing industry in China is projected to reach 6.928 billion yuan by 2025, with a year-on-year growth of 11.7%. EMC testing services account for approximately 76.13% of the market, while EMC testing equipment represents about 23.87% [1][8]. Policy Environment - Recent policies emphasize the importance of product quality and safety, mandating EMC testing for various industries, including automotive, consumer electronics, and aerospace, thereby creating a favorable environment for the EMC testing industry [4][5]. Industry Chain - The upstream of the EMC testing industry includes suppliers of electromagnetic materials and testing equipment, while the downstream encompasses demand markets across multiple sectors such as automotive, consumer electronics, and medical devices [6][7]. Demand Structure - The automotive sector is the largest demand market for EMC testing in China, expected to account for nearly 30% of the market by 2025. The rapid growth of the automotive market, particularly in new energy vehicles, provides significant growth opportunities for the EMC testing industry [7][8]. Competitive Landscape - The EMC testing market in China is characterized by a competitive landscape with a mix of state-owned, foreign, and domestic private testing institutions. The market concentration remains low, indicating intense competition [10]. - Key players in the industry include companies like 广电计量 (Guangdian Measurement), 西安西测 (Xi'an Xice), and others, which are leveraging their technical capabilities and service advantages to capture market share [10][11]. Development Trends - The EMC testing industry is expected to see a continuous improvement in standards and compliance requirements driven by government policies, leading to a more regulated and high-quality market [12]. - Technological advancements will focus on smart and high-end solutions, with AI and automation playing a significant role in enhancing testing efficiency and accuracy [13]. - The service model is shifting towards integrated solutions that encompass testing, rectification, certification, and consulting, aiming to meet the comprehensive needs of enterprises throughout their product lifecycle [14].

Core Insights - The Haikou Market Supervision Administration conducted a quality inspection of sanitary paper products in the circulation field from January to February 2026, with all 8 batches tested passing, resulting in a non-conformity rate of 0% [1] Group 1: Inspection Results - A total of 8 batches of sanitary paper products were sampled, and all were found to be compliant with quality standards [1] - The inspection covered various brands, including Qingfeng, Xinxiangyin, and Vinda, with most products rated as "excellent" [1] Group 2: Product Details - The inspected products included: - Qingfeng brand toilet paper, 138mm×100mm, 4 layers, net weight 118g, produced in July 2025 [1] - Xinxiangyin brand toilet paper, 101mm×140mm, 4 layers, net weight 200g per roll [1] - Vinda brand toilet paper, 138mm×104mm, 4 layers, net weight 200g per roll [1] - The inspection also included products with varying specifications, such as coreless rolls and different packaging sizes [1]

Group 1 - XianDao Intelligent is a key player in high-end intelligent equipment, focusing on precision manufacturing and automation solutions, particularly in the PCB industry [1] - The company provides high-precision cutting, forming, and testing automation equipment for the PCB industry, enhancing production efficiency and yield for high-end products [1] - With the acceleration of AI server and data center construction, the demand for high-end processing equipment in the PCB industry continues to rise [1] Group 2 - Fangzheng Technology has a state-owned background and long-term industry accumulation in the electronic information field, focusing on the R&D, production, and sales of printed circuit boards (PCBs) [2] - The company is upgrading its PCB production lines, emphasizing high-layer and high-frequency boards to meet the demands of 5G communication and industrial internet [2] - Fangzheng Technology maintains a stable market position in the communication and industrial control PCB sectors, providing reliable PCB supply to downstream equipment manufacturers [2] Group 3 - Helitai is a privately held company with a complete layout in electronic components and display modules, focusing on FPC flexible circuit boards and rigid PCBs [3] - The company invests in automotive PCBs and flexible boards, enhancing performance to meet the increasing electronic penetration in new energy vehicles [3] - Helitai leverages its vertically integrated supply chain to optimize cost control and product yield, aligning with the trends of lightweight and high-reliability terminal devices [3] Group 4 - Nord shares focus on copper-based new materials and is a significant player in the domestic copper foil industry, with high-precision electrolytic copper foil as a core product [4] - The company is investing in high-end PCB copper foil R&D and production, optimizing thickness uniformity and surface roughness to meet market demands [4] - Nord shares are deeply integrated with the PCB upstream supply chain, supporting material upgrades in the industry [4] Group 5 - Beifang Copper Industry, controlled by local state assets, has integrated resource and processing advantages, focusing on cathode copper, copper rods, and copper foil [5] - The company is enhancing copper material purity and processing precision, developing ultra-thin PCB copper foil to meet stringent requirements for HDI and high-layer boards [5] - Beifang Copper Industry provides stable, high-quality basic material supply to the PCB industry, supporting the domestic material supply chain [5] Group 6 - Tongling Nonferrous Metals is a leading copper smelting and processing enterprise in China, with a complete industry chain from mining to processing [6] - The company focuses on PCB copper foil, which is crucial for the production of printed circuit boards, and is increasing its investment in high-end copper foil products [6] - Tongling Nonferrous Metals is also developing recycled copper business to promote green manufacturing in line with the PCB industry's low-carbon development trend [7] Group 7 - Huagong Technology, with strong technical research and development capabilities, provides laser processing equipment and high-end manufacturing solutions for the PCB industry [8] - The company’s products meet the high-precision processing needs of communication, server, and automotive electronics PCBs, benefiting from the expansion of the PCB industry driven by AI computing power [8][9] - Huagong Technology is positioned favorably in the domestic PCB equipment market, contributing to the industry's manufacturing level and production efficiency [8] Group 8 - Shenghong Technology specializes in high-end PCB products, including HDI and high-frequency boards, serving major clients in various sectors [9] - The company maintains high production efficiency and product stability, with a strong order backlog driven by the demand for AI servers [9] - Shenghong Technology is advancing its automotive PCB certification and production expansion, solidifying its position in the domestic PCB market [9] Group 9 - Deep Kangjia A is a state-owned enterprise with a diversified technology platform, focusing on high-end PCB products for communication and industrial control applications [10] - The company leverages group resources to optimize its PCB business structure and enhance collaboration with key downstream clients [10] - Deep Kangjia A is positioned to benefit from the recovery of consumer electronics and the advancement of computing infrastructure, maintaining stable growth in the PCB sector [10] Group 10 - Guanjie Technology is a leading global player in the display field, extending its business into PCB and electronic components [11] - The company’s PCB products align with trends towards lightweight and high integration, supporting the growing demand in smart displays and automotive applications [11] - Guanjie Technology optimizes its PCB business quality through vertical integration, enhancing its competitive position in the electronic components market [11] Group 11 - Tiantong Co., Ltd. specializes in soft magnetic materials and high-end equipment, providing precision processing and testing equipment for the PCB industry [12] - The company’s products enhance circuit stability and anti-interference capabilities, supporting the production of high-end PCBs [12] - Tiantong Co., Ltd. benefits from its dual focus on materials and equipment, providing essential support to the PCB industry [12] Group 12 - Huhua Electric is a leading enterprise in the PCB industry, focusing on high-reliability PCB products for communication and automotive applications [13] - The company has a strong technical foundation in high-frequency and high-speed PCB fields, supplying major global communication and automotive clients [13] - Huhua Electric is positioned to expand its high-end order volume and production capacity, maintaining a leading position in the global PCB market [13][14] Group 13 - Xingsen Technology is a leader in PCB samples and small batch production, serving a wide range of R&D clients across various sectors [15] - The company’s rapid delivery capabilities and flexible production model are industry-leading, making it a crucial supply chain partner during product development stages [15] - Xingsen Technology is expanding its high-end PCB production capacity, tapping into the server and automotive electronics markets [15] Group 14 - Dongshan Precision is a significant player in precision manufacturing, leading in FPC and PCB sectors [16] - The company’s FPC products are widely used in smart terminals and automotive applications, driving its core growth [16] - Dongshan Precision is optimizing its product structure to maintain strong competitiveness in the flexible circuit board and automotive PCB markets [16] Group 15 - Liyuan Information is a leading distributor of electronic components, connecting upstream manufacturers with downstream electronic manufacturers [17] - The company provides a comprehensive supply chain and technical support for PCB manufacturers, playing a critical role in the industry [17] - Liyuan Information is enhancing its collaboration with the PCB supply chain, improving supply chain efficiency and cost control [17] Group 16 - China Jushi is a global leader in the fiberglass industry, with a focus on electronic-grade fiberglass for PCB applications [18] - The company’s products are essential for PCB performance, meeting the demands of high-frequency and high-speed applications [18] - China Jushi is positioned to support the domestic material supply chain and play a vital role in the high-end material upgrade process [18] Group 17 - Zhongtung High-tech specializes in hard alloys and tungsten materials, providing critical consumables for PCB processing [19] - The company’s products meet high standards for hardness, wear resistance, and precision, supporting the production of high-end PCBs [19] - Zhongtung High-tech is leveraging its resource and technology advantages to maintain a significant position in the PCB specialized hard alloy materials market [19] Group 18 - Zhao Chi Co., Ltd. focuses on smart terminals and semiconductor products, with a strong PCB business for consumer electronics and smart home applications [20] - The company’s vertical integration allows for collaborative design and production, enhancing competitiveness in the PCB market [20] - Zhao Chi Co., Ltd. is optimizing its PCB production capabilities to meet the growing demand in consumer electronics and smart home sectors [20] Group 19 - Dazhu Laser is a leading domestic laser equipment manufacturer, providing essential laser processing solutions for the PCB industry [21] - The company’s laser equipment is crucial for high-end PCB production, meeting the precision requirements of advanced applications [21] - Dazhu Laser is benefiting from the growing demand for high-end PCB production driven by AI computing power [21] Group 20 - Zhongke Electric is a privately held company with expertise in electromagnetic equipment and new materials, providing automation and thermal treatment equipment for the PCB industry [22] - The company’s products enhance PCB stability and consistency, supporting the industry's shift towards automation and intelligence [22] - Zhongke Electric is expanding its presence in the electronic manufacturing equipment sector, providing reliable support for the PCB supply chain [22] Group 21 - Hezhu Intelligent is a provider of high-end forming equipment and automation solutions for the PCB industry [23] - The company’s equipment is critical for the production of high-layer and thick copper boards, directly impacting PCB reliability and flatness [23] - Hezhu Intelligent is positioned to benefit from the growing demand for PCB production equipment driven by automotive electronics and server applications [23] Group 22 - Huace Testing is a leading third-party testing enterprise, providing comprehensive reliability and environmental testing services for the PCB industry [24] - The company’s services are essential for ensuring PCB quality in communication, automotive, and server applications [24] - Huace Testing is maintaining a leading position in the PCB testing sector, supporting industry quality assurance amid increasing regulatory demands [24] Group 23 - Sichuan Jiuzhou is a significant player in the military and electronic information sectors, focusing on high-reliability PCBs for communication and industrial control applications [25] - The company’s PCB products are known for their high yield and reliability, supported by a military-grade quality control system [25] - Sichuan Jiuzhou is positioned to meet the growing demand for high-reliability PCBs driven by new infrastructure and specialized fields [25] Group 24 - Jin Xin Nuo specializes in RF communication and high-speed interconnect products, focusing on high-frequency PCBs for communication and automotive applications [26] - The company’s products are designed to meet the demands of 5G and AI computing, with low loss and high stability [26] - Jin Xin Nuo is leveraging its expertise in RF and PCB to maintain competitiveness in the communication interconnect supply chain [26] Group 25 - Rongda Photosensitive is a leading manufacturer of PCB photosensitive inks and wet process materials, essential for PCB production [27] - The company’s products directly impact PCB precision and reliability, covering the entire PCB production process [27] - Rongda Photosensitive is positioned to benefit from the growing demand for high-precision photosensitive inks in the PCB industry [27] Group 26 - Hongchang Electronics focuses on epoxy resins and electronic chemicals, providing core materials for PCB manufacturing [28] - The company’s high-purity epoxy resins meet the demands of high-frequency and high-temperature PCBs, supplying major domestic manufacturers [28] - Hongchang Electronics is expanding its production capacity for high-end electronic-grade resins, supporting the domestic material supply chain [28] Group 27 - Dongcai Technology is a key player in the new materials sector, focusing on functional materials for PCB applications [29] - The company’s products are designed to meet the high-performance requirements of modern PCBs, supporting the domestic supply chain [29] - Dongcai Technology is leveraging its technical and production advantages to expand its presence in the PCB materials market [29]

2026年珠海市斗门区市场监管局食品安全抽检情况通报-第1期 为切实加强食品安全监管，珠海市斗门区市场监督管理局按计划开展了日常计划监督抽检。按照《中华人民共和国政府信息公开条例》《食品安全抽样检验 管理办法》等文件的要求，现将食品安全监督抽检情况通报如下： 一、总体情况 本次公示抽取样品58批次，抽样种类主要为食用农产品、餐饮食品。本次抽检按照《食品安全抽样检验管理办法》（国家市场监督管理总局令第15号）《食 品安全监督抽检和风险监测工作规范》《食品安全监督抽检和风险监测实施细则》具体实施抽样、检验，并依据国家食品检验技术要求报送检验结果。 三、特别提示 消费者在购买到或在市场上发现不合格食品时请及时拨打12345热线电话向区市场监管部门进行投诉或举报。被公开的当事人对信息公开内容有异议的，可 以自信息公开之日起30日内向珠海市斗门区市场监督管理局申请复核。公民、法人或者其他组织认为其合法权益受到侵犯的，可以依法申请行政复议或者提 起行政诉讼。 查询本期食品安全监督抽检结果具体信息，请登录斗门区政府网站-食品药品安全信息栏目查看。 珠海市斗门区市场监督管理局 2026年2月13日 | | | | 2026年 ...

证券代码：300012 证券简称：华测检测 公告编号：2026-002 华测检测认证集团股份有限公司 关于公司第四期员工持股计划完成非交易过户的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 华测检测认证集团股份有限公司（以下简称"公司"）分别于 2025 年 11 月 3 日、2025 年 11 月 28 日召开第六届董事会第二十七次会议、2025 年第一次临时 股东会，审议通过了华测检测认证集团股份有限公司第四期员工持股计划（草案） 及摘要》《华测检测认证集团股份有限公司第四期员工持股计划管理办法》等相 关议案。目前，本次员工持股计划已完成非交易过户，现将相关进展情况公告如 下： 一、员工持股计划股份过户情况 本期员工持股计划的股份来源为公司回购专用账户的华测检测 A 股普通股股 票。 公司已在中国证券登记结算有限责任公司深圳分公司开立了本期持股计划 专用证券账户，证券账户名称为"华测检测认证集团股份有限公司－第四期员工 持股计划"，证券账户号码为 08995*****。 2026 年 2 月 25 日，公司收到中国证券登记结算有限责任公司深圳分公司 ...