Group 1 - The event "IQ Talk" focused on the development strategies, key technologies, industrial applications, and talent cultivation in the field of scientific intelligence, highlighting the transformative impact of AI on scientific research [1][2] - Experts believe that "AI for Science" signifies a paradigm shift in scientific research, enabling a new form of interdisciplinary collaboration and innovation [1] - The need for new talent with cross-disciplinary thinking, engineering practice, and social insight was emphasized to navigate the scientific cognitive revolution [1] Group 2 - AI-driven technologies are expected to overcome traditional R&D challenges such as long cycles and high costs, facilitating new scientific discoveries [2] - AI tools are being developed to address real scientific problems, including algorithms for predicting biological interactions and driving drug molecule design [2] - Demonstrations of AI platforms that integrate literature review, computation, experimentation, and multidisciplinary collaboration were showcased, indicating a shift from trial-and-error to computation-driven research paradigms [2]

Summary of Zhite New Materials Conference Call Company Overview - Zhite New Materials is actively positioning itself in quantum technology to empower AI for Science, focusing on new material research with applications across various sectors including chemicals, energy, automotive, construction materials, and pharmaceuticals. The market size is expected to reach hundreds of billions or even trillions of dollars [2][4][19]. Core Business Performance - In Q1 2025, the company reported revenue of 560 million yuan, a year-on-year increase of 24%, with a profit of approximately 25 million yuan, reversing a loss of 40 million yuan from the previous year. The profit for Q2 2025 is expected to be between 40 million to 50 million yuan, with an annual profit forecast nearing 200 million yuan, representing over 100% year-on-year growth [2][7][26]. - The company’s aluminum template business is positioned at the forefront of construction engineering, with potential for performance and valuation recovery if the real estate market shows signs of improvement [2][9]. New Business Development - The new business primarily involves quantum technology-enabled AI for science, which allows for molecular-level calculations to design materials. This method offers greater flexibility and potential compared to traditional material development methods [4][17]. - The company has set ambitious overseas revenue targets of 5 billion yuan in 2024 and 1.5 billion yuan in 2026, with strategic partnerships established in the Middle East to build production bases [4][23]. Market Position and Valuation - Zhite New Materials has a market capitalization of 5.2 billion yuan, with a projected PE ratio of 26 for 2025 and 17 for 2026, indicating that the company is undervalued given its growth potential [3][19]. - The company is considered rare in the domestic market for its focus on AI for Materials, particularly using quantum computing, with no direct competitors in the A-share market [6][19]. Industry Challenges and Outlook - The construction materials industry is facing challenges due to a downturn in real estate and infrastructure, but 2025 is anticipated to be a turning point for recovery, particularly for the aluminum template business in first and second-tier cities [21][24]. - The company has been expanding its overseas projects since 2014, and with the recent focus on international markets, it expects significant growth in overseas revenue [22][23]. Future Expectations - The company is optimistic about its future performance, with aggressive profit targets of 200 million yuan for 2025 and 300 million yuan for 2026, reflecting strong confidence despite current market pressures [26][28]. - The integration of AI for Science with quantum computing is seen as a critical direction for future research, with significant potential for innovation and market impact [14][17]. Additional Insights - Recent stock price adjustments were attributed to market factors and concerns over equity dilution, but these do not fundamentally alter the company's growth trajectory [10][29]. - The company has successfully developed a super-insulating material, significantly reducing the research and development cycle from ten years to under one year, showcasing the effectiveness of its new business model [18][27].

Group 1 - The core viewpoint emphasizes the importance of developing the marine economy and building a strong marine province in Guangdong, which is seen as crucial for both the province and the nation [2][3] - Guangdong has established a Marine Strong Province Construction Work Committee, led by the provincial party secretary, to coordinate efforts across various departments to promote marine economic development [1][3] - In 2024, Guangdong's marine GDP reached 2.002 trillion yuan, maintaining its position as the largest marine economy in China for 30 consecutive years, contributing 27% to the region's nominal economic growth [2][3] Group 2 - The newly passed "Regulations on Promoting High-Quality Development of the Marine Economy" will take effect on July 1, 2023, marking a significant step in Guangdong's efforts to enhance its marine economy [3][4] - The marine economic structure in Guangdong shows a high proportion of the tertiary industry at 65.6%, which is 6 percentage points higher than the national average, indicating a need for better balance with primary and secondary industries [3] - The current transition in China's marine economy towards deep-sea resource development presents new opportunities for Guangdong, which is encouraged to leverage technology and innovation in marine sectors [3][4]

Core Viewpoint - The article discusses the advancements in AI technology, particularly focusing on the launch of the "Wujie" series of large models by Zhiyuan Institute, which signifies a shift from digital to physical world modeling and understanding at both macro and micro levels [4][8][40]. Group 1: AI Advancements and Trends - The AI field remains vibrant and rapidly evolving, with significant developments in reinforcement learning and various AI domains such as intelligent agents and multimodal models [2][3]. - The annual Zhiyuan Conference showcased insights from leading experts, including Turing Award winners, on the future paths of AI [3]. - The "Wujie" series represents a new phase in large model exploration, focusing on bridging the gap between virtual and physical worlds [4][7]. Group 2: "Wujie" Series Features - The "Wujie" series includes several key models: Emu3 (multimodal world model), Brainμ (brain science model), RoboOS 2.0 (embodied intelligence framework), and OpenComplex2 (microscopic life model) [6][15][34]. - Emu3 is the first native multimodal world model, integrating various modalities like text, images, and brain signals into a unified representation [14]. - Brainμ is a groundbreaking model in brain science, capable of processing over 1 million neural signal data units and supporting various neuroscience tasks [15][19]. Group 3: Embodied Intelligence Development - The embodied intelligence sector has become a strategic focus, with the introduction of RoboOS 2.0 and RoboBrain 2.0, which enhance the capabilities of embodied AI systems [20][22]. - RoboOS 2.0 introduces a user-friendly framework for developers, significantly reducing the complexity of deploying robotic systems [24]. - RoboBrain 2.0 is noted for its superior performance in task planning and spatial reasoning, achieving a 74% improvement in task planning accuracy compared to its predecessor [27]. Group 4: Microscopic Life Modeling - OpenComplex2 marks a significant advancement in modeling microscopic life, capable of predicting static and dynamic structures of biological molecules [34][38]. - The model has demonstrated its effectiveness by successfully predicting protein structures in a competitive evaluation, showcasing its potential in life sciences [36]. - OpenComplex2 aims to revolutionize drug discovery and biological research by providing a new modeling pathway for understanding molecular dynamics [38]. Group 5: Future Directions - The "Wujie" series reflects a strategic upgrade in AI paradigms, emphasizing the importance of modeling the physical world and integrating various AI domains [40]. - The future of large models is expected to extend beyond traditional applications, influencing systems that understand and change the world [41].

Group 1 - Alibaba Cloud and Fudan University have signed a cooperation agreement to enhance AI education, providing support in computing resources, experimental tools, and course development for the "AI Big Class 2.0" initiative [1][3] - The collaboration aims to extend advanced experiences in AI for Science to innovative practices in intelligent education, integrating AI into the classroom for Fudan students [3][4] - The CFFF intelligent computing platform, established through the partnership, has served over 5,200 faculty and students, supporting more than 550 research projects across various fields, leading to numerous high-level publications [4] Group 2 - In 2024, Fudan University will implement a new round of educational reforms, launching the "AI Big Class" initiative with over 110 courses in the AI-BEST curriculum framework, supported by Alibaba Cloud's "Cloud Engineering" program [5] - Starting this year, a collaboration for large model certification has been initiated, with students from various departments already obtaining the Alibaba Cloud Large Model Engineer ACA certification [6] - Alibaba Cloud will continue to provide computing resources and open-source models to support the development of Fudan University's AI curriculum and educational innovation through various initiatives [6]

Core Insights - The collaboration between Alibaba Cloud and Fudan University marks a significant advancement in AI education innovation, coinciding with Fudan's 120th anniversary [1][3] - The partnership aims to enhance the "AI Big Class 2.0" project, providing comprehensive support in computing resources, experimental tools, and course content development [1][3] Group 1: Collaboration Details - Alibaba Cloud will support Fudan University's AI education initiatives, including the development of a new educational paradigm for AI learning [1][3] - The collaboration is an extension of previous efforts in the AI for Science domain, which has already benefited over 5,200 students and faculty, supporting more than 550 research projects [3][7] Group 2: Educational Initiatives - Fudan University has initiated a new round of educational reforms, launching the "AI Big Class" project with over 110 courses in the AI-BEST curriculum [3][10] - The "Cloud Engineering and Materialization" program provides substantial computing power for practical training, enhancing students' AI application skills [3][10] Group 3: Future Plans - In 2025, the partnership will introduce a large model certification program for students, with the first batch of certified students already emerging from various departments [7][10] - Alibaba Cloud will continue to provide resources and support for Fudan's AI curriculum, including course co-development, talent certification, and practical training activities [10]

Group 1: AI Development in Beijing - By the end of 2024, Beijing has established 23 key laboratories in the field of artificial intelligence, focusing on cutting-edge algorithms, embodied intelligence, and AI safety governance [1] - The core industry scale of artificial intelligence in Beijing reached 345.87 billion yuan in 2024, marking a year-on-year growth of 28.8%, the highest growth rate in nearly three years [1] - The number of AI-related enterprises in Beijing surpassed 2,400, accounting for about half of the national total, with 36 unicorn companies representing more than half of the national total [1] Group 2: AI for Science (AI4S) Initiatives - The Science Navigator platform, developed by Beijing Intelligent Science Research Institute and Deep Insight Technology, aims to enhance academic exploration for researchers [2] - The platform significantly reduces the average literature search time by over 90% and achieves an accuracy rate of over 95% for complex questions in specialized fields [3] Group 3: Intelligent Laboratory Systems - The Uni-Lab-OS intelligent laboratory operating system integrates mechanical arms and automated guided vehicles (AGVs) for high-precision collaborative operations, transforming traditional laboratories into intelligent systems [4] - This system addresses inefficiencies in manual operations and data isolation in traditional labs, facilitating a transition to automated and intelligent research environments [4] Group 4: Embodied Intelligence Research - Five key laboratories focusing on embodied intelligence have been established in Beijing, supported by institutions like the Chinese Academy of Sciences and Tsinghua University [5] - These laboratories are dedicated to foundational theories, core technologies, and system applications in the field of embodied intelligence, with significant achievements in areas such as robot control and multi-modal perception [5] Group 5: General AI Developments - The upgraded version of the general intelligent entity "Tong Tong" 2.0 was unveiled, showcasing advancements in language, cognition, action, learning, emotion, and interaction capabilities [6] - This entity aims to support various vertical application scenarios and integrate with embodied intelligent robots, potentially revolutionizing sectors like smart manufacturing and elder care [6]

Group 1: Strategy Insights - The main impact of interim dividends is to smooth rather than enhance dividend yields [3] - Statistical methods cause disturbances in the dividend yield due to interim dividends [3] - A horizontally comparable dividend yield indicator is constructed [3] Group 2: Market Performance and Policy Events - A-shares experienced fluctuations due to Trump's tariffs, with a slight decline in risk appetite and high emotional volatility [3] - Global equities mostly rose, with Japan and South Korea leading the gains [3] - Major assets like oil and gold saw price declines, while the China-US interest rate spread slightly expanded [3] Group 3: June Strategy and Stock Recommendations - Focus on leading consumer companies such as Pop Mart and growth-oriented energy firms like China Qinfa [5] - Attention to AI for Science leaders like Jingtai Holdings and internet/hardware companies benefiting from AI development, such as Xiaomi [5] - Recommendations include new energy vehicle companies like Li Auto, Leap Motor, and Xpeng, as well as strong component manufacturers like Q Technology and Sunny Optical [5] Group 4: Real Estate Market Insights - New home transactions decreased by 11.9% year-on-year, while second-hand home transactions increased by 8.9% [18] - The report maintains an "overweight" rating for the real estate sector, emphasizing the importance of policy-driven dynamics [18] - Key investment targets include major state-owned enterprises and quality private firms in first and second-tier cities [18] Group 5: Chemical Industry Developments - The emergence of a new super insulation material developed through AI, significantly improving performance and reducing costs compared to traditional aerogels [12][13] - The super insulation material has potential applications in construction insulation and battery safety, opening up a market worth billions [15] - Companies like Zhite New Materials are positioned to capitalize on this innovation, leveraging existing channels for rapid commercialization [16] Group 6: Nitrocotton Market Analysis - Continuous and significant contraction in nitrocotton supply due to production halts and accidents, with a total capacity reduction of 42,000 tons from 2023 to 2025 [19][20] - Demand for nitrocotton is primarily driven by the civilian sector, with low price sensitivity due to its minimal cost impact on end products [19] - The market is expected to consolidate around state-owned enterprises, with North Chemical being a key player [23]

Recent Key Events - The U.S. International Trade Court ruled that Trump's tariff policy was illegal, leading to a significant reduction in tariffs between China and the U.S. [1][8] - Tesla plans to launch its fully autonomous taxi service, Robotaxi, in Austin, Texas, on June 12, 2025, with an initial fleet of about 10 vehicles [2][9] - The 2025 Lujiazui Forum will be held from June 18 to 19, focusing on financial cooperation and high-quality development amid global economic changes [2][9] Market Situation - The Hang Seng Index rose from 22,119 points at the end of April to 23,290 points at the end of May, marking a 5.3% increase [11] - The Hang Seng Technology Index increased from 5,087 points to 5,170 points, a rise of 1.6% [11] - In May, net inflows from southbound funds amounted to 45.6 billion HKD, with a decrease in net inflows over the past 30 trading days [12] Current Investment Recommendations - **Pop Mart (9992.HK)**: Achieved a 165%-170% year-on-year revenue growth in Q1 2025, with overseas revenue increasing by 475%-480% [22][24] - **China Qinfa (0866.HK)**: Improved balance sheet with a net profit increase of 150.5% year-on-year in 2024, primarily due to loan restructuring [27][30] - **Jingtai Holdings (2228.HK)**: Positioned as a leader in AI for Science, with significant growth potential in the trillion-dollar market [33][34] - **Xiaomi Group-W (1810.HK)**: Reported a 47.4% year-on-year revenue growth in Q1 2025, reaching a record high of 111.3 billion CNY [37][39] - **Li Auto-W (2015.HK)**: Anticipates the launch of its first pure electric SUV, i8, in July 2025, with a projected delivery of 12.3-12.8 million vehicles in Q2 [41][42] - **Leap Motor (9863.HK)**: Achieved a 187.1% year-on-year revenue growth in Q1 2025, with a focus on expanding its product lineup and international presence [46][48]

本播客由扣子空间（coze.cn）一键生成 作者丨 Nick McGreivy 译者丨明知山、华卫 策划丨华卫 编者按：近日，一位专注于物理领域的科学家 Nick McGreivy 分享了其应用 AI 来做研究的真实经 历，主题是"我被 AI for Science 的炒作所愚弄"。McGreivy 的研究涵盖机器学习、科学计算、等离子 体物理学、核聚变能和核政策等领域，并在 Nature Machine Intelligence、ICLR 等多个知名期刊上发 表过成果论文。 曾经，他对 AI 可以加速物理学研究持乐观态度。但是，当他尝试将 AI 技术应用于实际物理问题时， 结果令人失望。McGreivy 表示，自己对 AI 即将"加速"甚至"革新"科学的观点产生了怀疑。而在其深入 调研后又发现，"即使 AI 在科学中取得了真正令人印象深刻的成果，这也不一定意味着 AI 对科学做出 了什么实质性的贡献，更多只是反映出 AI 在未来可能发挥重要作用的潜力......" 2018 年，当我在普林斯顿大学攻读等离子体物理博士二年级时，我做出了一个重要的决定——将我 的研究重点转向机器学习。当时我还没有一个具体的科研 ...