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 ...

（原标题：华夏基金总经理李一梅：踏春山，驭长风，以专业坚守赴时代之约！） 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，我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！ 旧岁已展千重锦。刚刚过去的2025年是中国经济的"韧性与突破"之年，也是公募基金行业在高质量发展 道路上笃定前行的关键一年。作为"十四五"规划的收官之年，2025年中国经济在复杂多变的内外部环境 中展现出强大韧性，顶压克难，于难中求成、在逆中突破、更在变中求进，向新向优发展。新质生产力 在神州大地上加速涌动，从高端装备到人工智能，从千兆光网到算力中心，从量子科技到低空经济，创 新驱动的正反馈机制持续增强，各领域纷纷抢滩经济发展新赛道。中国经济正以前所未有的态势向高质 量发展迈进，为资本市场提供了最坚实的底层资产支撑。 公募基金行业同样在变革中彰显韧性，在创新中积蓄力量，迈入更好服务实体经济与国家战略，以高质 量发展为主线，以投资者利益为核心的新阶段。2025 ...

申万宏源家电首席分析师 刘正 2026年2月21日 农历丙午年正月初五 于安徽滁州 当沪漂的身份切换回游子，当研报里的宏观数据变成眼前的真实场景，每一次春节返乡，对 我而言都是一次最生动的"草根考察"。我的家乡在安徽省滁州市，素有 "金陵锁钥、江淮保障" 之 称，因欧阳修的《醉翁亭记》而名扬天下，每次给别人介绍我的家乡，我都以骄傲地背诵出 "醉 翁之意不在酒，在乎山水之间也" 的诗句开始，来介绍我的家乡。在外人看来，它是南京都市圈 和合肥都市圈的"双圈明星"；在我们本地人眼中，它是既有千年文脉又有烟火气息的皖东重镇。 今年春节归来，有两个地方让我感触最深：一个是承载着这座城市文化底蕴的"亭"，一个是蕴藏 着民间消费韧性的"市"。 一、 千年文脉的"新活法"：从"醉翁之意"到"古城春联" 大年初二，我没有跟风随着游客去挤琅琊山，而是特意去了趟遵阳街，只为看一眼2026丙午 年挂上古城门的巨幅春联。 "化日照琅琊，半城锦，半城画；春风驰骏马，一路歌，一路霞。" 当 这副从全国1778副作品中脱颖而出的春联映入眼帘时，我看到的不仅仅是红纸黑字的年味，更是 家乡在文化传承与城市更新上的"方法论"。1400多年历史的古 ...

Core Viewpoint - The A-share market is expected to experience a recovery post-Spring Festival, driven by three main investment themes that are supported by policy, demand recovery, and performance realization [1][8]. Group 1: Market Overview - Historical data indicates that the probability of the A-share market initiating a spring rally after the Spring Festival exceeds 70%, with an expected increase in market risk appetite due to policy expectations from the March Two Sessions [1]. - This year's market is anticipated to be structurally strong rather than a broad-based rally, focusing on specific investment themes that align with policy support and demand recovery [1]. Group 2: Investment Themes - **Theme 1: New Productive Forces (AI, High-end Manufacturing, Semiconductors)** - This theme is emphasized by regulatory bodies and is a key focus in brokerage reports, with high-tech manufacturing PMI remaining in the expansion zone and a significant increase in orders related to new productive forces [4]. - The theme combines policy support, technological implementation, and capital concentration, with a strong rebound expected post-holiday [4]. - **Theme 2: Consumption Recovery (Home Appliance Replacement, Cultural Tourism, Dining)** - The consumption recovery is evidenced by increased sales of smart wearable devices and green home appliances during the Spring Festival, with retail sales in related categories showing double-digit growth [6]. - The ongoing "old-for-new" policy in home appliances further strengthens the certainty of performance in this sector, making it a defensive investment option [6]. - **Theme 3: High Prosperity in New Energy (Photovoltaics, Energy Storage)** - The new energy sector, a core part of the national energy strategy, has seen its valuations return to reasonable levels after adjustments, with domestic photovoltaic installations and energy storage projects exceeding expectations [7]. - The sector is expected to experience valuation recovery as industry chain prices stabilize and performance reports are released, particularly for leading companies with robust cash flows [7]. Group 3: Investment Strategy - Investors are advised to focus on the identified main themes and avoid frequent stock changes, as patience and the right selection are crucial for capitalizing on post-holiday market opportunities [8].

Core Viewpoint - The article highlights the economic resilience and cultural vibrancy of Chuzhou, Anhui, showcasing its development through a blend of traditional heritage and modern consumer experiences, particularly during the 2026 Spring Festival [1][11]. Group 1: Cultural Heritage and Economic Development - Chuzhou has maintained its historical essence while integrating modern elements, as seen in the juxtaposition of ancient architecture and contemporary cafes [2][12]. - In 2025, Chuzhou received 42 million tourists, generating a tourism revenue of 41 billion yuan, reflecting a growth rate that ranks among the top in the province [3][13]. - The city has successfully transformed cultural resources into tourism assets through innovative events and activities, such as the "琅琊乐宴" and various cultural performances [3][13]. Group 2: Local Market Dynamics - The "Dog Market" serves as a vital economic hub, attracting 60,000 to 70,000 visitors weekly, with peak days seeing up to 150,000 attendees, thus becoming a significant local gathering point [4][14]. - The market's popularity has created a "big market economy," effectively absorbing employment and facilitating the sale of local agricultural products [5][15]. - In 2025, Chuzhou's urban areas added 55,000 new jobs, with over 100,000 job placements facilitated, indicating a robust local employment landscape [5][15]. Group 3: Economic Indicators - Chuzhou's GDP surpassed 422.1 billion yuan in 2025, with a growth rate of 5.5%, demonstrating strong economic resilience amid external challenges [7][17]. - The industrial sector showed significant growth, with a 7.4% increase in industrial output, particularly in the computer, communication, and automotive manufacturing sectors, the latter experiencing nearly 50% growth [7][17]. - The integration into the Yangtze River Delta economic zone has led to the establishment of high-quality job opportunities, enhancing local employment prospects [7][17].

去年的"赛博秧歌"犹在眼前，今年春晚，会武功的机器人再次震撼全球。它们不光会极限跑酷、正反空 翻，甚至能驾驭拳法、棍法等高难度动作。不少观众评价：表演行云流水，机器人"更上一层楼"。 它们背后这家科技范十足的机器人企业，正是来自浙江杭州的宇树科技。 在浙江走访调研，会发现一批跟宇树科技"气质"相似的企业：强脑科技靠着自主研发的新式电极材料， 在脑机融合技术上不断突破；光线云科技开发图形渲染软件，在元宇宙赛道上探索新方向…… 过去，许多企业靠拼土地、拼劳动力发展；而今，浙江民营企业家瞄准新质生产力，锚定创新、发力研 发谋优势。 这样的例子比比皆是：浙江畅尔智能装备研发的航空发动机榫槽加工五轴数控卧式侧拉床，打破了长期 依赖进口的局面；杭州贝丰科技生产的微型高性能涡轮风机，填补了国内乃至亚洲市场空白…… 这些企业或许不大，但都在细分领域掌握独门绝技，在市场上占据一席之地。截至2025年底，浙江已累 计培育国家级"隐形冠军"470家、专精特新"小巨人"企业1801家，数量均居全国前列。这当中绝大部分 是民营企业。 在"2025中国民营企业500强"等五张榜单上，浙江蝉联"大满贯"，上榜企业数量稳居全国首位。其中， ...

Group 1 - The core message emphasizes the resilience of the A-share market and the importance of capital markets in supporting the real economy during the "14th Five-Year Plan" period, with the total market value of A-shares surpassing 100 trillion yuan and public fund net value reaching 37 trillion yuan [3][5] - The public fund industry is undergoing a transformation from focusing on scale to prioritizing investor returns, guided by the "Action Plan for Promoting the High-Quality Development of Public Funds" [4][5] - The company adheres to a long-term value investment philosophy, aiming to maximize the long-term interests of its investors by focusing on equity and fixed income investments, and implementing a boutique product strategy [4][5] Group 2 - Looking ahead to 2026, the company expresses confidence in China's economic development, supported by policy optimization and strong global competitiveness in manufacturing, which is expected to lead to a good start for the "15th Five-Year Plan" [5] - Despite a significant increase in overall valuations, the market remains within a reasonable range, providing a solid foundation for long-term investments, with stocks still seen as the most cost-effective asset class [5] - The company plans to enhance its research capabilities and maintain a focus on deep fundamental research to invest in high-quality companies with sustainable competitive advantages, aiming to create sustainable long-term returns for investors [5]

今天分享的是：中国企业评价协会：2025年中国科创企业创新力TOP500发展报告 报告共计：113页 在企业经营策略上，文档总结了两类核心路径。其一为"聚焦核心能力"，企业纷纷剥离非核心业务，将资源集中于技术研发、品牌建设 等核心板块，通过强化差异化优势构建竞争壁垒；其二为"长期主义布局"，企业更加注重可持续发展能力，在产品创新、人才培养、客 户粘性维护等方面持续投入，摒弃短期逐利思维，以稳健的经营节奏应对市场变化。 总体而言，文档认为，当前商业金融领域的发展，正处于"效率重构"与"价值回归"的关键阶段。无论是产业、市场还是企业，唯有顺应 趋势、聚焦核心、拥抱变化，才能在复杂的商业环境中实现持续发展。 文档核心内容总结 本次文档围绕当前商业与金融领域的核心发展趋势展开分析，聚焦于产业模式迭代、市场需求变迁与企业经营策略优化三大核心维度， 梳理了行业发展的内在逻辑与实践方向。 在产业模式层面，文档指出，数字化转型已从"可选动作"转变为行业标配，核心并非单纯的技术应用，而是通过数据链路打通实现全流 程效率提升。传统产业链中"生产-渠道-消费"的线性结构，正逐步向以用户需求为核心的"网状生态"演变。头部企业通过搭建 ...

河南睢县把科创成果用到田间地头—— 手机遥控，机器人浇得麦苗壮 人民日报记者 王乐文 趁着走亲戚的间隙，农户刘士龙拿出手机，抓紧点击屏幕操作。"士龙，大过年的，你这是忙啥呢？"身 边的亲戚不解。 "你来看看，现在手机上就能远程操控浇地。"刘士龙笑着招呼。 庄稼不等人，节气催人进。豫东平原，雨水节气后，河南商丘市睢县后台乡南村的麦田里，冬小麦趁着 暖意"起身"拔节，促弱转壮、浇好返青水，成了春耕里最紧要的事。 几公里外的麦田里，智能灌溉机器人循着北斗导航自主巡航，360度旋转喷头洒出细密水珠，不压苗、 不跑水。 "老经验要守，新技术更得学。现在种地，拼的是科技。"从那以后，刘士龙思想转变了。 另一处的田埂上，技术员孙建军正在调试设备。"这台机器人是新农人王智豪团队研发的，不仅能实时 记录用水量、施肥量，还能按麦苗长势调整方案。" 作为返乡大学生，王智豪带着团队把工业机器人技术搬进农田。如今，第四代产品能节水40%、降低灌 溉成本50%，还能让小麦亩产提升15%。 "目前，我们公司研发的智能灌溉机器人还推广到其他省份，服务面积超过30万亩。"谈及新年计划，王 智豪介绍，将组建智能灌溉机器人装备机队，把更多科研创新 ...

Group 1 - The article highlights the transformation in agricultural practices through the adoption of smart irrigation technology, showcasing how farmers are increasingly relying on technology for efficient farming [1][2] - The smart irrigation robots developed by a team led by Wang Zhihao can save 40% of water and reduce irrigation costs by 50%, while also increasing wheat yield by 15% [2] - The company has expanded its smart irrigation robot services to over 300,000 acres across different provinces, indicating a significant market reach and impact on agricultural productivity [2] Group 2 - The integration of soil sensors and remote control via smartphones allows farmers to manage irrigation more precisely, leading to better water management and labor efficiency [1] - The shift from traditional farming methods to technology-driven practices represents a broader trend in rural revitalization and modernization of agriculture [2] - The article emphasizes the importance of combining traditional farming knowledge with new technologies to enhance agricultural productivity and sustainability [2]