据统计，2025年，贵州达沃斯海外出口占比提升至40%，实现了海外市场连续三年增长。 专注一块"屏"，贵州达沃斯光电研发项目负责人李振兴带领研发团队，在3A、3D等多项技术上取得了突破。 在他看来，"屏"的关键在材料。 转自：贵州日报 贵州达沃斯光电有限公司生产车间。 鲍贝贝 摄 贵州日报天眼新闻记者 鲍贝贝 近日，在贵州达沃斯光电有限公司内，工人身着防静电无尘服，通过风淋室清除附着尘埃后有序进入生产车 间，一块块透明基板沿着全自动生产线缓缓流动，开启从原材料到智能触摸屏的蜕变。 这家专注于"做屏"的企业，2012年从深圳入驻贵阳市高新区，历经十余年的发展，目前已在贵阳设立沙文、 花溪2个生产厂区。且通过在"屏"上深耕技术创新，贵州达沃斯还实现了从单一生产到全产业链布局的跨越式 发展，成长为全国领先实现全尺寸电容式触摸屏生产的核心供应商。 "公司的触摸屏，小到智能手环，大到教室用的黑板，涵盖了1英寸到110英寸。"贵州达沃斯人事行政中心总 监唐雷介绍，当前，达沃斯全尺寸的电容式触摸屏覆盖了消费电子、商用显示、工业控制、车载、医疗等全 场景，服务于海康威视、TCL、传音等头部企业。同时，还远销日韩、欧美等地。 ...

康拓医疗总部 ◎记者 张问之 从领着几名初创员工在西安创业园起步，到登陆资本市场，在科创板上市；从寂寂无名，到产品覆盖国 内外众多知名医院，成为国内为数不多能够在细分领域与行业巨头竞争的本土企业……康拓医疗以 PEEK（注：聚醚醚酮，一种高分子材料）材料为核心，实现了中国神经外科植入医疗器械的国产替 代。 上市四年，康拓医疗业务有何拓展？在不断的变革中，哪些核心基因构成了其坚固的"护城河"？近日， 上海证券报记者走进康拓医疗，对话董事长胡立人，探寻这家高科技企业的发展破局之道。 实现颅骨修补国产替代 回望康拓医疗的发展历程，有两个节点性事件对公司影响深远。其一便是国产替代——PEEK材料在高 值耗材领域的应用逐步替代传统钛金属。在这个过程中，康拓医疗抓住机遇，获批首个国产PEEK材料 颅骨修补及固定产品注册证，成功实现国产替代。 多年前，植入式医疗器械的技术和市场都掌握在外国人手里，患者和医院常常要以高额费用从国外采 购。"建立一家中国人自己的植入式医疗器械研发生产企业"的想法在胡立人心中萌芽。 这也锻造了康拓医疗的核心竞争力，即产品研发及创新能力。公司在PEEK注塑、PEEK3D打印、生物 再生材料等工艺和 ...

智通财经APP讯，鼎阳科技(688112.SH)发布公告，2026年1月12日，公司全新推出PXIe模块化示波器、 PXIe模块化矢量网络分析仪和USB矢量网络分析仪三款新品，并同步推出三款PXle嵌入式控制器与 PXIe混合机箱，基于模块化架构、卓越性能与灵活的系统集成能力，新产品进一步丰富了公司的产品 矩阵，为通信、新能源、半导体等领域的研发与生产测试提供更灵活高效的解决方案。 本次新产品的发布，体现了公司的技术创新能力和产品开发能力，进一步丰富了公司的产品矩阵和产品 形态，拓宽了公司产品的应用场景和使用范围，将有助于巩固和提升公司的综合竞争力，对公司未来的 发展将产生积极的影响。 ...

Core Viewpoint - The recent adjustment of export tax rebate policies for battery products is expected to significantly impact the lithium battery industry, leading to a surge in production and export activities as companies rush to meet demand before the tax rates decrease [2][3]. Group 1: Industry Response - Upstream companies, particularly leading cathode material manufacturers, are experiencing heightened demand, with some reporting order volumes doubling as they expedite production and delivery schedules [2]. - The adjustment has triggered a "rush to export" among mid and downstream lithium battery companies, aiming to mitigate the impact of reduced tax rebates set to take effect in April 2026 [2][3]. Group 2: Differentiation Among Companies - The policy change is creating a stark divide between leading firms and smaller enterprises, with larger companies benefiting from scale, technological advantages, and global presence, while smaller firms face significant challenges due to their reliance on low-cost competition [3][5]. - Leading battery manufacturers, such as CATL, are showing strong overseas performance, with significant revenue from international markets, while smaller firms struggle with higher costs and lower margins [4][5]. Group 3: Impact on Different Segments - The upstream resource sector is expected to benefit in the short term from increased demand due to the rush to export, while long-term demand for lithium resources remains robust despite short-term price fluctuations [6]. - The midstream materials sector is experiencing a dual pressure of increased orders from downstream but also rising raw material costs, leading to a complex profit landscape [6]. - The downstream battery manufacturing sector is facing significant cost increases due to the reduction in export tax rebates, particularly affecting consumer electronics battery companies with thin margins [7]. Group 4: Policy Background and Logic - The adjustment of export tax rebates is part of a broader strategy to transition the lithium battery industry from subsidy dependence to market-driven competition, reflecting the industry's maturity and global leadership [8]. - The policy aims to alleviate overcapacity and homogenization issues within the industry, as the average profit margin across the lithium battery supply chain has dropped to 3.64% [8]. - The move also seeks to balance international trade relations and optimize fiscal resource allocation, reducing reliance on subsidies while focusing on high-end manufacturing and emerging technologies [8]. Group 5: Future Outlook - The industry is likely to experience a short-term surge in exports alongside a long-term shift towards high-quality development, with companies needing to focus on technological innovation and cost control to navigate the post-rebate landscape [9]. - Firms are encouraged to leverage the current buffer period to enhance their technological capabilities and optimize customer structures to ensure sustainable growth after the tax rebate adjustments [9].

Core Viewpoint - Tianyoude Wine (002646) emphasizes brand building and market promotion, with a clear plan and actions in place to enhance its market influence [1] Group 1: Brand Building and Marketing - The company hosts events such as the Barley Wine Culture Festival, the Eight Hundred Li Sand event, and the FIRST Film Festival annually to strengthen brand recognition [1] - The company is committed to technological innovation and marketing transformation, continuously deepening the "Tian Niang Craft" and constructing the Tianyoude technical system [1] Group 2: Strategic Initiatives - The company adopts a four-pronged strategy focusing on "county-level, internationalization, youth orientation, and terminalization" to accelerate its national expansion and overseas plans [1] - The company is actively working on developing the U.S. market as part of its international expansion efforts [1] Group 3: Brand Consistency - To highlight the Tianyoude brand, the company has adjusted its stock abbreviation to Tianyoude Wine, ensuring consistency across the company name, brand name, and stock abbreviation [1]

格隆汇1月12日丨鼎阳科技(688112.SH)公布，2026年1月12日，公司全新推出PXIe模块化示波器、PXIe 模块化矢量网络分析仪和USB矢量网络分析仪三款新品，并同步推出三款PXle嵌入式控制器与PXIe混合 机箱，基于模块化架构、卓越性能与灵活的系统集成能力，新产品进一步丰富了公司的产品矩阵，为通 信、新能源、半导体等领域的研发与生产测试提供更灵活高效的解决方案。 本次新产品的发布，体现了公司的技术创新能力和产品开发能力，进一步丰富了公司的产品矩阵和产品 形态，拓宽了公司产品的应用场景和使用范围，将有助于巩固和提升公司的综合竞争力，对公司未来的 发展将产生积极的影响。 ...

Core Viewpoint - The photovoltaic industry is transitioning towards "high-quality development driven by technological innovation," presenting opportunities for companies like Laplace to focus on core competencies and enhance competitiveness [1][11]. Group 1: Technological Innovation - Laplace emphasizes that technological innovation is fundamental for its business, with the listing on the Sci-Tech Innovation Board providing strong momentum for its development [3]. - The company has increased the proportion of R&D personnel and significantly boosted the number of invention patents, with a total of 1,520 patent applications and 905 authorized patents as of June 30, 2025 [3]. - New automated processing equipment for half-cell and multi-slice products has been launched, improving space utilization and production efficiency [3]. Group 2: Product Development and Market Position - Laplace is advancing the application of new products such as ALD, EPD, and laser equipment, supporting the upgrade of battery technologies like TOPCon and XBC [4]. - The company is actively involved in the research and development of cutting-edge technologies for perovskite batteries and semiconductor devices, aiming to meet diverse technological needs [4][6]. Group 3: Financial and Strategic Growth - The capital empowerment from the Sci-Tech Innovation Board has provided Laplace with ample R&D funding and expanded financing channels, allowing the company to focus on N-type battery technology and semiconductor equipment development [6][9]. - The company aims to enhance its core competitiveness by increasing innovation investment and optimizing production capacity, while also expanding its international market presence [9][10]. Group 4: Industry Context and Competitive Landscape - The photovoltaic industry is shifting from "extensive growth" to a focus on technological innovation, with competition now centered on technological barriers and cost resilience [7]. - Laplace's strong technical foundation has allowed it to maintain robust performance amidst industry fluctuations, with stable growth driven by new capacity upgrades and international expansion [7][8].

Core Viewpoint - The establishment of Shanghai Zhongwei Zhima Technology Co., Ltd. in the Shanghai Lingang New Area marks a strategic move for Zhongwei Zhima (08041) to enhance its micro-point code anti-counterfeiting and traceability technology business [1] Group 1: Company Developments - The headquarters of the micro-point code business has been relocated from Nanjing to Shanghai [1] - The Shanghai subsidiary will focus on the sales and development of micro-point code anti-counterfeiting and traceability technology products [1] Group 2: Strategic Advantages - The Shanghai Lingang New Area, as part of the China (Shanghai) Pilot Free Trade Zone, offers unparalleled advantages as an international platform [1] - The subsidiary is expected to qualify for preferential government policies for advanced technology enterprises in the Lingang New Area [1] - The company aims to establish partnerships with international platforms like the Shanghai Technology Exchange, leveraging mature infrastructure and efficient channels in cross-border technology transactions and digital asset services [1] Group 3: Future Outlook - The establishment is anticipated to significantly enhance the operational efficiency, technology integration, and service response speed of the Shanghai subsidiary in the global market [1] - The company is committed to deeply integrating into the innovation ecosystem and capturing the development dividends released by institutional innovation [1] - The group plans to accelerate technological innovation and actively expand both domestic and international markets, aiming to provide high-quality and reliable products and solutions to global customers [1]

Group 1 - The core narrative of the market has shifted from "growth" to "competitiveness," driven by external factors such as the U.S.-China tech competition and the need for self-sufficiency in key industries [17][33] - The A-share market has shown resilience despite economic pressures, with the performance of leading companies in global competition being a key driver of market valuation rather than domestic consumption or income growth [18][27] - The current investment logic emphasizes sectors like AI, power, and critical resources, which are experiencing rapid capital expenditure growth, while traditional consumer sectors face challenges [26][28] Group 2 - The divergence between corporate competitiveness and household income growth reflects a broader transformation in the economic structure, where companies are optimizing costs to enhance global competitiveness [28][31] - Historical examples illustrate that market performance can diverge from economic fundamentals, as seen in the U.S. during WWII and China's market in the early 2000s, where investor sentiment and risk premiums played significant roles [9][14][16] - The current market environment suggests that the valuation of leading companies is increasingly decoupled from traditional economic indicators, focusing instead on their long-term competitive advantages [5][8][18] Group 3 - The rise in valuations for sectors like commercial aerospace, AI, and semiconductors reflects a belief in China's ability to compete and innovate in critical areas, despite short-term economic challenges [18][19] - The shift in demand dynamics, particularly in the context of AI and energy infrastructure, is driving a new cycle of investment that differs from traditional recovery patterns [19][24] - The market's focus on a few core assets, which contribute significantly to overall market capitalization, indicates a concentration of value creation in leading firms rather than a broad-based economic recovery [5][8][18] Group 4 - The ongoing adjustments in corporate cost structures and labor compensation models are indicative of a strategic response to global competition, which may lead to increased income volatility for workers [28][31] - The institutional differences between China's centralized policy approach and the more fragmented Western model highlight the advantages of sustained support for key industries in fostering long-term competitiveness [33][34] - The current macroeconomic landscape is characterized by a complex interplay of geopolitical uncertainty, technological competition, and evolving consumer behaviors, necessitating a nuanced investment strategy [35][36]

Group 1: Economic Framework - The concept of "new economy" emphasizes technology and intellectual property, first introduced in China's 2016 government work report, advocating for the development of high-tech industries and modern services[3] - The Solow model suggests that long-term per capita output growth is driven solely by exogenous technological progress, while endogenous growth theory posits that knowledge and innovation can lead to sustained internal growth[3][14] Group 2: Empirical Evidence - A multiple linear regression model using quarterly data from September 2016 to September 2025 indicates that technological innovation, digital economy, and high-quality openness significantly drive industrial upgrading[3][33] - The model's R-squared value is 0.8181, indicating a high degree of fit, with significant F-statistics (F=28.78, p=0.0000) confirming the joint significance of the explanatory variables[38][46] Group 3: Core Mechanisms - The core mechanisms of industrial upgrading include technological integration, factor innovation, and organizational change, with "creative destruction" facilitating structural optimization through new technologies and industries[3][49] - The importance of new production factors such as knowledge, data, and computing power is increasing, leading to transformations in traditional factors like labor and capital[3][49] Group 4: Empowerment Pathways - High-end, intelligent, green, and global pathways are identified as key empowerment routes for industrial upgrading, with high-tech manufacturing and equipment manufacturing showing strong growth, maintaining over 6% year-on-year growth since 2024[3][49] - The digital economy is projected to see data transaction volumes exceed 160 billion yuan in 2024, with a year-on-year growth of over 30%[3][49] Group 5: International Comparisons - The report draws lessons from the U.S. "technology-industry-finance" collaborative system, Germany's "Industry 4.0" concept, and Japan's lean manufacturing model, emphasizing the importance of small and medium enterprises and continuous R&D investment[3][49]