以下文章来源于泽平宏观商学 ，作者泽平宏观商学 泽平宏观商学 . 前沿科技企业实战研学 读万卷书行万里路 企业简介 追更生态 全场景高端智能生态,重新定义现代生活 追觅科技成立于2017年,是以高速数字马 达、智能算法、运动控制技术为核心的全球高端 科技品牌。其始终坚信"核心技术是一切的根本", 重视技术研发与创新。截至2025年12月,全球累 计申请专利超8000件,累计获得授权专利超 3000件。追觅科技旗下产品覆盖清洁、个护、厨 电等多元场景的高端智能产品矩阵，已成为智能 清洁领域的全球领导品牌。 魔法原子 聚焦机器人全栈自研,推动具身智能落地 魔法原子成立于2024年,是国内少数具备通 破桂 世 世 J7\///000 ヘエツイロリアム リアベリア ■ リア 超90%。不同于实验室构想,它坚持以商业化落 地为导向,发起"千景共创计划",在工厂、商业等 真实场景中锤炼机器人,解决"有用、好用、有人 用"的问题，加速技术转化为新质生产力。 灵猴机器人 视觉感知和运动控制技术,叩开自主创新大门 灵猴机器人成立于2015年,是智能制造领域 的核心零部件供应商。其自主研发机器视觉、直 驱电机、工业机器人等核心产 ...

第三，推动新质生产力同新质战斗力高效融合、双向拉动，需要抓好重大前沿科技突破和应用。新质生 产力和新质战斗力发展，从根本上说源于科技的创新和应用，主要由技术革命性突破催生而成。当前， 战略高新技术迅猛发展，既孕育着产业变革的新动能，也蕴含着军事革命的新契机，已经成为发展新质 生产力和新质战斗力的核心要素。应当进一步把科技创新特别是关键共性技术、前沿引领技术、现代工 程技术、颠覆性技术创新作为突破口，以科技创新推动产业创新、军事创新，打造新质生产力和新质战 斗力发展的强大引擎。要充分发挥新型举国体制优势，聚焦前沿领域深化军民科技协同创新，大力推进 自主创新、原始创新，勇于挺进"无人区"、开辟"新赛道"，加快重大前沿技术突破和应用。重大科技创 新平台是支撑前沿科技创新突破的重要载体，应加快建设一批具有国际领先水平的重大科技创新平台， 聚力加强基础研究和关键核心技术攻关突破。合力抓好新领域、新业态人才培养，研究出台激励政策吸 引人才，打造高水平、专业化的科技人才方阵。构建自主自强、开放融合、充满活力的创新生态，增强 军民一体创新的能力和效力，带动新质生产力和新质战斗力同步跃升。 【纠错】 【责任编辑:张欣然】 新华 ...

Core Insights - The 2026 Spring Festival Gala serves as a significant indicator of China's economic transformation, showcasing a shift from traditional advertising to a more integrated approach where brands and content coexist harmoniously [3][10] - The sponsorship landscape reflects a trend of "technology taking center stage, traditional industries enhancing quality, and diversified consumption," indicating the current strength and future direction of the Chinese economy [3][5] Group 1: Sponsorship Dynamics - The 2026 Spring Festival Gala achieved a record total reach of 23.063 billion across all media platforms, attracting over 28 brands from various sectors including AI technology, smart transportation, and consumer goods [3][6] - The sponsorship system has become more refined and strategic, with exclusive rights being secured by leading brands, marking a transition from broad naming rights to specialized collaborations [3][5] - Notable participation from robotics companies, such as Yushutech and Magic Atom, transformed the gala into a "hardcore technology show," highlighting the deep integration of technology into mainstream entertainment [3][6] Group 2: Economic Trends - The shift towards "technology taking center stage and consumption upgrading" is a key observation for understanding the economic trends in 2026, with traditional industries optimizing their structures while retaining only top brands [5][6] - The emergence of brands like Miniso and card game companies as official partners signifies a cultural and emotional shift in consumer behavior, moving beyond mere material satisfaction to include cultural identity and emotional connection [6][7] - The automotive sector, represented by Great Wall Motors and the collaboration between JAC and Huawei, underscores the successful transition of the new energy vehicle industry from policy-driven to market-driven dynamics [6][7] Group 3: Capital Flow and Market Sentiment - Eight listed companies participated in the gala, including Wuliangye, Yanghe, and Bilibili, reflecting a shift in investment logic from traditional defensive strategies to technology-driven growth [7][9] - The presence of leading liquor brands demonstrates the resilience of the Chinese economy, while companies in smart transportation and new consumption sectors leverage the gala for brand expansion, indicating a commercial turning point [7][9] - The overall sponsorship landscape encapsulates the confidence in China's economic development, showcasing advancements in AI, high-end manufacturing, and consumer upgrades [9][10]

Group 1 - The core viewpoint of the article emphasizes the transition of China's capital market from liquidity recovery to structural pricing, highlighting a year of stabilization and differentiation in 2025 [2] - The macro environment in 2025 saw marginal improvements in global liquidity, with the Federal Reserve's multiple interest rate cuts providing external support for risk assets, while domestic policies continued to stabilize the market [2] - The market structure in 2025 was characterized by a focus on a few sectors with medium to long-term logic, such as AI computing power, self-controllable technologies, and high-end manufacturing, while traditional real estate and some cyclical industries were still in a clearing and bottoming phase [2] Group 2 - In 2026, the Chinese economy is expected to experience a weak recovery with structural upward trends, driven by a new round of technological and industrial cycles [3] - The focus on new technologies, renewable energy, digital economy, and biomedicine is reshaping production relationships and capital return structures, while traditional economic sectors are gradually declining [3] - The economic growth model is shifting from total expansion to quality enhancement, with stable growth policies expected to continue [3] Group 3 - The capital market in 2026 will shift its core variable from liquidity recovery to profitability, with a focus on fundamental performance rather than speculative narratives [4] - High-quality companies, particularly in the Hong Kong stock market and technology manufacturing sectors, are anticipated to reach profitability turning points between 2025 and 2026 [4] - The investment logic will increasingly return to fundamentals, leading to a more rational pricing system [4] Group 4 - The capital market is expected to exhibit three main characteristics: a higher probability of structural bull markets over broad bull markets, a balance between growth and value investments, and continued volatility with an upward shift in market stability [5] - Investors will prioritize company quality and industry dynamics, with high-growth sectors requiring caution regarding valuations, while traditional value assets regain significance [5] Group 5 - The investment strategy for 2026 is termed "Double Horses Running Together," focusing on both growth and stable assets [6] - Growth sectors, particularly those related to AI and new productive forces, are seen as long-term investment themes, while stable assets in finance, resources, and consumption are being revalued as quasi-debt equities [6] - The investment approach will involve a dynamic adjustment of asset allocation, favoring growth in the first half of the year and gradually shifting towards value in the second half [7]

（来源：中国妇女网） 在各地景区"上班"的机器人更是多才多艺：写福字、画糖人、奏乐器、跳热舞，指法精准，力度收放自如。传统 年俗，因它们的参与充满了创新味儿。 今年春节，机器人"打工"的场景能够大幅拓展，得益于我国新质生产力的飞速发展。去年春晚，扭秧歌的机器人 变队形还是靠"小步慢走"，今年它们已经能在快速奔跑中完成穿插变阵和武术动作。这种高动态、高协同的集群 控制技术，在全球是首次亮相。再拿春晚和沈腾马丽搭戏的机器人"盖博特"来说，它能盘核桃、穿烤肠，全靠一 双高度集成的灵巧手：30多个微型电机协同工作，完成22个自由度的精细抓取；它搭载的具身大模型，让它看得 懂环境、听得懂指令、能够自主高效完成工作。目前，我国人形机器人已经能够"站得住、走得稳、跑得快"，正 加速从"舞台上动起来""赛场上跑起来"向"家庭里用起来""工厂里干起来"转变。 今年春节，我们看到机器人"打工"的身影越来越多，离不开相关产业链的日渐成熟。2025年我国整机企业数量超 140家，发布人形机器人产品超330款，头部厂商出货量超过5000台。业界普遍认为，2025年是人形机器人量产元 年。产量增加，伴随"共享租赁+平台化调度"模式的推广 ...

Core Viewpoint - The XuZhou Economic Development Zone is focusing on innovation-driven development, enhancing industrial chains, and fostering a robust ecosystem of enterprises to achieve high-quality growth and modernization of industries [3][5][9]. Group 1: Company Developments - Bodin Power (Jiangsu) Co., Ltd. is in the final stages of debugging a 15-liter natural gas engine project, expected to commence mass production by the end of February, contributing an estimated 100 million yuan in output with 2,000 orders in hand [1]. - The intelligent workshop of Yanfeng Automotive Trim Systems XuZhou Co., Ltd. utilizes over 40 automated devices to produce smart panel trim with integrated touch and lighting functions, positioning itself as a supplier for well-known brands [3]. Group 2: Industrial Strategy - The XuZhou Economic Development Zone has initiated an "Innovation-Driven Year" with three major action plans focusing on "Artificial Intelligence+", strengthening and extending industrial chains, and nurturing enterprises [3]. - The zone aims to attract both large and small projects to solidify key segments of the industrial chain, fill gaps, and enhance the overall industrial ecosystem [3][5]. Group 3: Innovation and Growth - XuZhou Economic Development Zone is committed to systematic thinking and innovative implementation to optimize traditional industries while nurturing emerging sectors, thereby enhancing resource efficiency and policy integration [5]. - The zone has established a strong foundation for innovation, housing major enterprises like XCMG and GCL, along with several high-tech and innovative firms, and numerous national and provincial research institutions [5][7]. Group 4: Enterprise Ecosystem - The zone currently hosts 200 high-tech enterprises, 8 national-level specialized "little giant" companies, and 73 provincial-level specialized small and medium enterprises, forming a "geese formation" of industrial development [7]. - Companies like XCMG Power Battery and Xinhua Semiconductor are leading in their respective fields, with Xinhua being the largest domestic and third-largest global producer of semiconductor silicon materials [7]. Group 5: Future Goals - The XuZhou Economic Development Zone aims to strengthen leading enterprises, foster quality and innovative companies, and support small and micro enterprises to create a diverse industrial ecosystem [9]. - The goal is to achieve significant breakthroughs and scalable industrialization, moving from initial concepts to full-scale production [9].

岁序常易，华章日新。当时光的车轮驶入丙午马年，神州大地春意盎然，万象更新。 值此辞旧迎新的美好时刻，谨代表华夏基金全体员工，向广大投资者、合作伙伴，以及长期以来关心支持华夏基金发展的各界朋友们，致以最诚挚的节日 问候！恭祝大家在新的一年里龙马精神、阖家幸福、投资顺遂、万事胜意！ 这份信心，也来自行业生态的持续优化与制度红利。在全面深化改革推动下，居民财富加速向金融资产转移。公募基金作为普惠金融的重要载体，其透 明、专业、规范的优势更加凸显。监管引导行业回归本源，推动从"规模竞赛"迈向"价值创造"，为行业打开更广阔的发展空间。 作为行业的亲历者与建设者，华夏基金始终与行业同呼吸、共成长。我们见证了权益投资的波澜壮阔，也亲历了固定收益的稳健致远；我们拥抱指数化投 资的普惠浪潮，也积极探索海外配置的全球化视野。我们持续完善"指数研究+服务+策略"的体系，权益类ETF管理规模稳步前行，不仅为投资者提供了布 局中国核心资产的便捷工具，更在科技、红利、港股等赛道上努力成为大家值得信赖的"长跑伙伴"。 华夏基金深知，信任是资产管理行业最宝贵的资产。我们的每一份成绩单，离不开中国经济高质量发展的时代沃土，更离不开持有人的坚定 ...

Core Viewpoint - Guangdong's "one kilowatt-hour economics" is exemplified by the city of Shaoguan, which is leveraging high-quality green electricity to establish itself as a computing power hub for the Guangdong-Hong Kong-Macao Greater Bay Area [1][3]. Group 1: Economic and Operational Advantages - Shaoguan is part of the national "East Data West Computing" project and serves as the only national data center cluster in South China, supporting Guangdong's manufacturing strategy [3]. - The city offers the lowest electricity prices in Guangdong, with a cost of 0.134 RMB per kilowatt-hour lower than the Pearl River Delta, significantly reducing operational costs for data centers [3]. - By 2025, six data centers in Shaoguan are expected to consume over 170 million kilowatt-hours of electricity, a 751% increase year-on-year [3][4]. Group 2: Green Energy Integration - By the end of 2025, over 60% of Shaoguan's electricity generation will come from green energy, meaning that for every two kilowatt-hours consumed by data centers, one will be from clean energy sources [4]. - The energy consumption per unit of computing power in Shaoguan is 12% lower than the national average, achieving a balance of increased computing power without increasing carbon emissions [4]. Group 3: Industry Development Goals - Shaoguan aims to create a complete industrial chain encompassing upstream computing equipment manufacturing, midstream computing services, and downstream data applications [4]. - The integration of computing power and electricity is seen as a way to promote both ecological and economic development, fostering a virtuous cycle of "promoting production through computing and vice versa" [5].

就在前几天，2026年深圳两会落幕，一张成绩单甩出来，直接把天捅了个窟窿：GDP干到了3.87万亿，工业第一城、外贸第一城、研发投入强度第一城，一 口气拿了五个"全国第一" 。 按说这应该是普天同庆，开香槟的节奏。但深圳这次的操作却让人看不懂——它没在外面吹牛，反而转过头来，对着自己"砰砰"开了几枪。 它终于对自己最痛的"软肋"下手了。 以前咱们聊深圳，聊的是华为腾讯大疆，是粤海街道的造富神话，是南山科技园凌晨两点的灯火通明。 但你要和一个在深圳住了十年的老油条聊这些，他会吐掉嘴里的猪脚饭，冷笑一声："关我屁事？我关心的只有一个——我孩子的学位搞定了吗？我家门口 的医院能看三甲专家了吗？我楼下的'电鸡'（电动车）别再堵成狗了吗？" 这就是深圳的AB面。A面是3.87万亿的繁华，B面却是藏着多年的"软肋"——城市虽大，但民生账本太薄；产业虽强，但生活成本太高。 用大白话说，这座城以前像个"钢铁直男"，只顾着赚钱搞事业（产业），却忘了怎么好好生活（民生）。 最典型的例子就是福田区。作为深圳的"亲儿子"、市中心，前些年居然被逼到了"无地可用"的尴尬境地。甚至连腾讯、大疆这些从福田走出去的"亲儿子"， 因为没地方扩建 ...

家人闲坐，灯火可亲。马年春节，当我们沉浸在假期的闲暇中，机器人却迎来了最忙碌的"加班季"。它 们不仅在总台春晚的舞台上大放异彩，还在线下的多个日常生活场景里大显身手——吃住行游购娱，都 有机器人服务的身影，为中国人的年味增添了一股浓郁的科技氛围，也让我们真切感受到了技术飞跃为 生活赋能带来的美好。 今年春节，机器人遍地"打工"的场景随处可见。人头攒动的商场里，除了迎宾，机器人还能化身贴心导 购，你只要说出需求，它便能迅速规划路线："先去B1花店选一束花，再去二层生鲜区挑些水果。"带 路、陪伴、拎包，它样样都行。 春运出行遇高峰，充电桩前排大队怎么办？移动充电机器人主动驶来，像一个大号的共享充电宝，可为 你解燃眉之急。 在各地景区"上班"的机器人更是多才多艺：写福字、画糖人、奏乐器、跳热舞，指法精准，力度收放自 如。传统年俗，因它们的参与充满了创新味儿。 今年春节，机器人"打工"的场景能够大幅拓展，得益于我国新质生产力的飞速发展。去年春晚，扭秧歌 的机器人变队形还是靠"小步慢走"，今年它们已经能在快速奔跑中完成穿插变阵和武术动作。这种高动 态、高协同的集群控制技术，在全球是首次亮相。再拿春晚和沈腾马丽搭戏的机器 ...