Group 1 - The city government is focusing on the comprehensive governance of chemical and hazardous materials safety, emphasizing the need for higher standards, practical measures, and strict enforcement to prevent and mitigate risks [2] - The meeting highlighted the importance of collaboration among various departments to enhance information sharing, joint inspections, and emergency responses, aiming to create a strong synergy in risk management [2] - The city is advancing the "Artificial Intelligence +" initiative to establish a national AI innovation application pilot zone, aiming to leverage AI for development and improve public welfare [2] Group 2 - The city is planning to implement the "6G City" action plan for 2026-2027, focusing on leveraging advantages in core technology, research transformation, and creating application scenarios to foster a favorable business environment [3] - The meeting underscored the need for continuous improvement in the industrial ecosystem to convert comparative advantages into industrial strengths, aiming to establish a leading demonstration area for 6G industry development [3]

12月30日，国内射频前端芯片与模组领军企业重庆锐石创芯微电子股份有限公司（以下简称"锐石创芯"）科创板IPO获正式受理。这家成立于2017年4月的 芯片企业，凭借覆盖芯片设计、滤波器制造、模组封装与测试的全产业链能力，已成长为国家级专精特新重点"小巨人"企业，正加速向资本市场迈进。 射频前端芯片是无线通信设备的核心组件，直接影响着信号质量和通信性能。长期以来，这一市场被博通、Skyworks、Qorvo等国际巨头主导，尤其在滤 波器等关键器件领域，国内企业长期面临"卡脖子"困境。 "与终端厂商的深度合作，让锐石创芯能够更精准地把握市场需求，快速迭代产品。"一位通信行业人士分析道，"这种产业协同是国产芯片企业追赶国际 巨头的重要优势。" 根据招股书（申报稿），锐石创芯本次IPO拟募资8.09亿元，主要用于三大方向：MEMS器件生产基地二期工程建设项目、研发中心建设项目及补充流动 资金。 MEMS器件生产基地二期工程：将进一步扩大公司滤波器等MEMS器件的制造能力，巩固其在国产滤波器领域的领先地位。 研发中心建设：将聚焦5G-Advanced及6G前沿技术、射频模组集成技术等方向，为下一代通信技术提前布局。 目 ...

Investment Rating - The industry is rated as "stronger than the market," indicating an expected increase of over 10% relative to the CSI 300 index in the next six months [17]. Core Views - The A-share market experienced slight fluctuations with a small upward trend, with notable performance in the aerospace, software development, non-ferrous metals, and internet services sectors, while sectors like pharmaceutical commerce, precious metals, shipbuilding, and batteries underperformed [2][3]. - The average price-to-earnings ratios for the Shanghai Composite Index and the ChiNext Index are 16.28 times and 50.28 times, respectively, which are above the median levels of the past three years, suggesting a favorable environment for medium to long-term investments [3][16]. - The recent Central Economic Work Conference emphasized a shift in macro policy focus from total expansion to a balance of quality and sustainability, highlighting future industries such as artificial intelligence, commercial aerospace, quantum technology, and 6G as key investment directions [3][16]. - The market anticipates a continuation of a "moderately loose" domestic monetary policy, with expectations of the Federal Reserve maintaining a rate-cutting cycle in 2026, contributing to a more favorable global liquidity environment [3][16]. - The strengthening of the RMB is expected to enhance the attractiveness of RMB-denominated assets, facilitating capital inflows [3][16]. Summary by Sections A-share Market Overview - On December 31, the A-share market showed a slight upward trend, with the Shanghai Composite Index closing at 3968.84 points, up 0.09%, while the Shenzhen Component Index fell by 0.58% [7][8]. - The total trading volume for the day was 20,659 billion, which is above the median of the past three years [3][7]. Future Market Outlook and Investment Recommendations - The report suggests that investors should closely monitor macroeconomic data, changes in overseas liquidity, and policy developments, with a short-term focus on investment opportunities in aerospace, software development, non-ferrous metals, and internet services sectors [3][16].

Core Viewpoint - The company is currently focused on core business areas including infrared thermal imaging, laser sensors, optical components and film coating, and star trackers, while actively pursuing opportunities in high-end equipment manufacturing, low-altitude economy, and satellite internet [1] Group 1 - The company has not yet ventured into 6G-related technologies and business areas [1]

Market Overview - The A-share market showed mixed performance today, with the Shanghai Composite Index slightly up by 0.09% closing at 3968.84 points, while the Shenzhen Component Index fell by 0.58% to 13525.02 points. The ChiNext Index decreased by 1.23% to 3203.17 points, and the STAR 50 Index dropped by 1.15% to 1344.20 points. Overall, 2470 stocks rose while 2768 stocks fell, with a total trading volume of 204.51 billion yuan, down by 9.72 billion yuan from the previous trading day [1]. Industry Performance - Among the Shenwan first-level industries, sectors such as defense and military, media, real estate, non-ferrous metals, and social services led the gains, with increases of 2.13%, 1.54%, 1.13%, 1.09%, and 1.04% respectively. Conversely, industries like telecommunications, agriculture, forestry, animal husbandry and fishery, electronics, comprehensive, and power equipment experienced declines, with drops of 1.35%, 1.10%, 1.02%, 0.93%, and 0.90% respectively [1]. Concept Sector Performance - The top-performing concept sectors today included satellite navigation, Xiaohongshu platform, commercial aerospace, Pinduoduo partners, satellite internet, Kimi, large aircraft, selected air transport, top ten military industrial groups, Douyin Doubao, virtual humans, military information technology, internet celebrity economy, 6G, and WEB3.0. In contrast, sectors such as cross-strait integration, GPU, high send and transfer, consumer electronics OEM, optical modules (CPO), and copper-clad laminates saw corrections [2].

#中国新型芯片绕开光刻机限制# 中国新型芯片问世了！ 北京大学孙仲教授团队研究出的这个基于阻变存储器的高精度、可扩展模拟矩阵计算芯片，意义很大， 说白了就是换了个路子做计算，来绕开光刻机的限制。 以前模拟计算因为"算不准"而被淘汰，现在他们一举解决了这个老大难问题。这样一来，芯片做矩阵计 算时，速度更快、更省电，而且用28纳米这种成熟工艺就能造，不用去挤高端光刻机的独木桥。 眼下芯片还在实验阶段，适合中等规模的任务，比如应用于6G和机器人等，他们还计划两年内把芯片 规模做大，先在这些领域做起来。 长远看，它是为AI大模型训练、超算这些"算力吞金兽"准备的一个高能效后备方案。等这些需求爆发 时，咱们手里就有现成的技术牌可以打了。 2017 11 专访 北大孙仲团队 支撑6G和AI训练,可在28纳米 及以上成熟工艺量产 ...

新华财经上海12月31日电 中国银河证券就2026年1月发布市场展望称，1月，A股市场进入关键数据验证 期。1月走势将更多受到政策落地效果、宏观数据、公司业绩和流动性变化的综合影响，波动可能加 大，风格倾向阶段性再平衡。 首先，12月领涨的国防军工、6G、卫星互联网等板块需要业绩或订单验证来消化涨幅，商业航天、AI 算力板块等产业趋势明确的主题或仍有活跃机会。 其次，具备战略资源属性的有色金属细分板块尤其是战略小金属如锑、钨、稀土等是前沿科技突破的不 可或缺的上游资源，其战略稀缺价值和需求弹性正被市场重新定价。 再次，1月多个重要活动和会议可能对相关板块产生影响。1月3日，博鳌全球消费大会影响AI应用消 费、电商零售；1月7日，第十六届互联网产业年会影响互联网平台、AI算力；1月15日，第二届中国 eVTOL创新发展大会、1月18日智联6G+AI引航技术影响低空经济、动力系统、卫星通讯等板块。 行业方面，关注三大方向：一是战略资源与周期复苏板块。制造业温和复苏、国内"反内卷"政策优化供 给下，建议关注具备战略稀缺性的上游资源品板块，包括工业金属（铜）、战略小金属、能源金属（钾 肥）；二是科技自立与新质生产力板 ...

央视网消息（焦点访谈）：第六代移动通信，也就是6G，是"十五五"规划建议提出的六大未来产业之一。当前我国6G产业发展已进入技术创新加速演进、 产业方向愈发清晰的关键阶段，一幅以"融合""创新"为核心的发展路线图正徐徐铺展。业内预计，6G产业有望通过技术场景的逐步落地，全面赋能千行百业 与大众消费市场，实现人工智能、智能感知等技术的深度融合，成为新的经济增长点。那究竟什么是6G，现在发展得怎么样，它又会给我们的生产生活带 来怎样的变化？ 你是否觉得，指尖轻轻一滑，视频瞬间加载、信息秒速抵达，5G网速已经够快了？而就在我们不常关注的实验室里，面向未来的第六代移动通信技术，也 就是6G的研发正在加速。 无线工业控制是6G网络的核心应用场景之一，要求网络进一步突破微秒级超低时延、接近百分之百的超高可靠性。为了验证6G网络的确定性与可靠性，在 江苏南京紫金山实验室，一台由6G网络实时无线控制的设备，实现了5G网络目前难以达到的，对乒乓球长时间规律跳动的精准控制。 在北京邮电大学的实验室里，彭木根教授正在给同学们介绍"北邮-银河号"的地面模型。这颗于2022年发射的低轨宽带通信卫星，已经在距离地面500公里的 轨道上稳定 ...

Market Overview - On December 30, the A-share market opened lower but experienced a slight upward adjustment, with the Shanghai Composite Index facing resistance around 3979 points[2] - The total trading volume for both markets reached 21,617 billion yuan, above the median of the past three years[3] - The Shanghai Composite Index closed at 3965.12 points, unchanged, while the Shenzhen Component Index rose by 0.49% to 13,604.07 points[7] Sector Performance - Key sectors such as robotics, consumer electronics, cultural media, and energy metals performed well, while commercial retail, photovoltaic equipment, wind power equipment, and jewelry sectors lagged[3] - Over 60% of stocks in the two markets declined, with notable gains in industries like electric machinery and energy metals[7] Valuation Metrics - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices are 16.28 times and 50.13 times, respectively, above the median levels of the past three years, indicating a suitable environment for medium to long-term investments[3] - The report emphasizes the importance of monitoring macroeconomic data, changes in overseas liquidity, and policy developments[3] Future Outlook - The central economic work conference has maintained a positive macro policy tone, shifting focus from total expansion to quality and sustainability[3] - The market anticipates that the Federal Reserve will continue its interest rate cut cycle in 2026, contributing to a more accommodative global liquidity environment[3] - The strengthening of the RMB is expected to enhance the attractiveness of RMB-denominated assets, facilitating capital inflows[3]

Core Viewpoint - The company, Meilixin Technology, has established a joint venture with Taiwan's Juyuan Innovation to enhance its liquid cooling business, while also engaging in discussions with Intel for advanced cooling solutions in high-performance computing [1][2]. Group 1: Liquid Cooling Business Development - Meilixin has formed a joint venture named Xinchang Zhileng (Anhui) Precision Technology Co., Ltd. with Juyuan Innovation, completing the registration on December 29 [1]. - The company has received a sample order for AMD's next-generation high-performance CPU water cooling board and aims for mass production by Q1 2026 [2]. - Intel's delegation visited Meilixin to discuss advanced cooling technologies, with plans to develop solutions for high-power AI servers [2]. Group 2: Market Potential and Strategic Positioning - Meilixin's liquid cooling products are expected to expand from communication base stations to computing and energy storage applications, with a focus on extreme cooling scenarios [3]. - The company is positioned to leverage synergies between its communication and liquid cooling sectors, targeting high-power base station cooling solutions [4]. - The domestic telecom operators are projected to invest nearly 20 billion in 5G-A plans by 2025, providing significant growth opportunities for Meilixin's communication and liquid cooling segments [4]. Group 3: Diverse Business Segments - Meilixin's operations span four main sectors: communication, automotive, semiconductor, and liquid cooling, with a concentrated push expected in 2026 [4]. - In the automotive sector, Meilixin has established a decade-long partnership with Tesla and is also supplying components to other major North American manufacturers [5]. - The semiconductor business has seen Meilixin stabilize its position within the supply chains of leading industry players, enhancing its capabilities from individual components to system-level modules [4].