：王禾 执业证书编号：S1230512110001 ：021-80105901 ：wanghe@stocke.com.cn 市场总览 重要观点 ❑ 【浙商策略 廖静池/王大霁/赵闻恺/高旗胜/黄宇宸/黄海童】A 股策略半年度：蓄势突围，守时待机——2025 年 A 股半年度策略——20250610 证券研究报告 | 浙商早知道 报告日期：2025 年 06 月 12 日 浙商早知道 2025 年 06 月 12 日 重要点评 ❑ 【浙商家电 马莉/史凡可/张云添/陈秋露】消费电子 行业深度："中国智造"的影像时代——20250611 http://www.stocke.com.cn 1/4 请务必阅读正文之后的免责条款部分 ❑ 大势：6 月 11 日上证指数上涨 0.52%，沪深 300 上涨 0.75%，科创 50 下跌 0.2%，中证 1000 上涨 0.4%，创业板 指上涨 1.21%，恒生指数上涨 0.84%。 ❑ 行业：6 月 11 日表现最好的行业分别是有色金属（+2.21%)、农林牧渔（+2.02%)、非银金融（+1.9%)、汽车 （+1.7%)、传媒（+1.6%)，表现最差的行业分别是医药生物 ...

Core Insights - JD.com's automotive sales during the 618 shopping festival saw a significant surge, with tire sales increasing by 430% year-on-year in the week leading up to the event, and Linglong Tire achieving an impressive 800% growth [1][6]. Group 1: Sales Performance - Linglong Tire emerged as a standout performer with an 8-fold increase in sales, highlighting the brand's strong market presence [1][6]. - On the opening day of the 618 event, Linglong Tire's sales increased nearly 30 times compared to the previous year [6]. Group 2: Technological Advancements - Linglong Tire has integrated RFID chips into its products, allowing for full traceability from production to disposal, enhancing quality control and after-sales service [3][4]. - The company has developed innovative technologies such as "water film nemesis" for improved wet braking performance and self-repairing tires to address safety concerns for electric vehicles [4]. Group 3: Market Positioning - The growth of electric vehicles has provided domestic tire manufacturers like Linglong with opportunities to excel, as these vehicles have higher demands for tire performance [4]. - Linglong Tire has become the leading brand in the domestic electric vehicle tire market, with a consistent market share from 2020 to 2024 [4]. Group 4: E-commerce Strategy - Linglong Tire has officially entered the e-commerce space by partnering with JD.com, expanding its product offerings from 120 to 300 types within a year [9][10]. - The collaboration with JD.com has allowed Linglong to leverage a comprehensive service ecosystem, enhancing customer experience and driving sales growth [13]. Group 5: Future Growth Plans - Linglong Tire aims for a threefold increase in sales over the next year, focusing on improving product quality and customer service [7][12]. - The company is participating in government-subsidized programs to boost sales, with reported increases of 500% in daily sales during promotional events [12].

张维期待影石创新成为一家世界级的伟大企业。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 影石创新科技股份有限公司（以下简称 "影石创新"）于2025年6月11日正式 以"688775"为股票代码在科创板挂牌上市 ，成为 A股 "智能影像第一股" 。 " 我常说， 深圳的成功之处在于形成了资金资本密集、人才技术密集、大型科技企业生态密集的 ' 铁三角 ' ，并在这三个方面实现了互相涵养、自我循环、自我推动的状态：大型科技企业形成产业 链聚集与协同，以及技术与人才外溢，人才在资金和风险投资的支持下创业，产业链配套协作的成熟 又辅助了创业成功。 创业仅 10年时间，就成长为50多亿营收、10亿利润的细分行业领导者，影石 创新在创业上也跑出了 ' 深圳速度 ' 。 "张维表示。 其次， 新时代的企业家，表现出了新时代的企业家精神。 张维强调， 新时代的企业家成长在一个经济起飞、拥抱世界的年代，更有自信，更有全球观，更有 创造力、叛逆精神和挑战精神。 " 他们雄心勃勃，想要改变世界，怀抱宏大的梦想，要做出伟大的产品。这些新兴产业的年轻人，正 在引领中 ...

南京宇创承制四大塔器抵达水东港 中化新网讯 5月31日，茂名石化炼油转型升级及乙烯提质改造项目迎来关键节点——首船大件设备"四 大塔器"（乙烯塔、1/2号丙烯塔、碱洗塔）顺利抵达水东港。 当直径7.8米的巨塔经江海联运跨越千里精准就位、43分钟高效卸船顺利完成，展现出我国"制造-运输- 安装"一体化能力。"唯有技术创新，才能让大国重器成为畅通双循环的'钢铁纽带'。"刘飞说。 刘飞指出，持续的研发投入与工艺改进是南京宇创保持竞争力的基础。2018年以来，南京宇创新增核心 发明专利4项，实用新型专利46项，构建了完善的知识产权保护体系。其研发的专利产品"法兰连接式铝 镁料仓"，以其超轻量化设计、卓越耐腐蚀性及超强结构安全性，已连续5年稳居市场占有率首位，并获 得中国石化集团科学技术进步奖三等奖，成为该领域的"隐形冠军"。目前，该产品在中石化镇海炼化基 地、壳牌惠州项目等多个大型乙烯项目中成功应用超过300台。 在复合板、低温钢及特种不锈钢等材料的焊接、成型和热处理方面，南京宇创同样积累了丰富的工程经 验，能够满足不同工况的严苛要求，其制造的直径9.3米EO吸收塔、CO2吸收塔等复合板设备已应用于 镇海基地。 "四 ...

Core Viewpoint - The shipbuilding industry in Huaiyin County, Henan Province, is experiencing significant growth and transformation, with advancements in technology and an increase in shipbuilding capacity, particularly in the construction of larger vessels such as the 5000-ton dual-purpose cargo ships [2][5][6]. Group 1: Industry Development - Huaiyin County has successfully launched the first 5000-ton steel dual-purpose cargo ship in Henan, marking a milestone in local shipbuilding capabilities [2]. - The region has evolved from building small wooden boats to constructing large steel vessels, with a notable increase in ship sizes from 500 tons to 5000 tons and beyond [5][6]. - The local shipbuilding industry is now recognized as the largest in the Huai River basin, with a focus on green and intelligent manufacturing practices [6][9]. Group 2: Economic Impact - The shipbuilding sector is contributing to the economic development of Henan, with significant investments and projects underway, including a recent signing of 16 projects worth nearly 20 billion yuan at a promotional event [7]. - The development of the Huaiyin shipbuilding industry is closely linked to the enhancement of inland waterway transportation, which is expected to lower logistics costs and improve shipping efficiency [12][13]. Group 3: Technological Advancements - Companies in Huaiyin are adopting advanced technologies such as laser cutting and automated welding, significantly reducing the time required to build vessels [11]. - The integration of new technologies and materials is driving the transformation of the shipbuilding industry towards more sustainable and efficient practices [10][18]. Group 4: Future Prospects - The local government is actively promoting the development of the shipbuilding industry as part of a broader strategy to enhance the regional economy and establish Henan as a key player in the national maritime industry [16][18]. - The establishment of a shipbuilding research institute and partnerships with leading design and research institutions are expected to further boost innovation and competitiveness in the sector [10][17].

在谈及国内外阻燃材料标准差异与行业挑战时，邓小兵指出，我国分级标准GB 8624借鉴欧盟分级框 架，在技术层面与EN 13501-1差异较小。相对而言，美国分级核心方法ASTM E84与中欧的GB/T 20284、EN 13823却差异显著。这使得国内企业面临双重研发压力，既要满足国内B1级基础要求，又要 应对国际大型火蔓延试验评价技术，无疑增加了企业成本，尤其是给中小企业的产品设计研发带来挑 战。 "以兔宝宝为例，该企业通过材料创新与结构设计成功突破困境，其A2级复合阻燃板以不燃板为基材， 复合木质阻燃单板优化界面，达到GB 8624 A（A2-s1，d0，t0）级，同时达到欧盟s1级低烟标准。此 外，兔宝宝稳定的高效环保阻燃处理技术与胶层阻燃隔断技术，显著提升了人造板阻燃安全性能，在应 对国际标准时展现出显著的技术优势与创新实践能力。" 在阻燃材料行业发展的关键时期，标准体系的异同与检测技术的创新对企业的发展至关重要。近 日，"阻燃守护·品质人居——2025全国阻燃材料创新大会暨质量安全万里行启动仪式"在浙江德清隆重 召开。在仪式现场，中国质量新闻网专访了国家防火建筑材料质量检验检测中心检测部副研究员邓小 ...

证券代码： 301163 证券简称：宏德股份 江苏宏德特种部件股份有限公司 投资者关系活动记录表 编号：2025-003 投资者关系活动 类别 特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 现场参观 其他 参与单位名称及 人员姓名 长城证券 王泽雷 长城证券 谢斯尘 东亚前海证券 胡智元 时间 2025 年 6 月 10 日 地点 现场调研 上市公司接待人 员姓名 董事会秘书 李林立 投资者关系活动 主要内容介绍 1、公司自我行业定位如何？ 答：公司专业从事高端装备关键铸件的研发、生产及销售，是 一家具有自主研发和创新能力的高新技术企业。公司深耕铸造 行业三十余年，始终坚持"弘扬工匠精神，引领绿色智造"的 公司使命，努力打造全球高端装备领域的一流企业。公司是目 前国内为数不多的同时掌握高性能球墨铸铁和铸铝核心技术 的铸件生产企业，公司坚持"铸铁+铸铝"的多元化发展模式， 涉及风电设备、电力设备、医疗器械等多个领域。 2、公司对后续产能的规划如何？ 答：公司目前正在建设"年产 3 万吨高端装备关键件精密加工 | 制造项目"，预计今年三季度会有部分设备安装到位，陆续会 | | -- ...

机器人大讲堂获悉，医疗手术机器人研发商「柳叶刀」完成数千万元的 A+轮融资。 本轮融资的投资方为悦 湖基金，距离上一轮 A轮融资仅过去半年时间。 此次 融资所获取的资金将主要用于跨科室国产化手术机器人 产业化基地建设、后续产品研发迭代及全球化商业布局。据企查查显示， 柳叶刀机器人此前已获 中金资本 、 乾融控股 、 浦耀信晔 、 海邦投资 、 东方富海 、 元生创投 、前海母基金融资支持。 在产品研发方面 ，柳叶刀机器人专注于脊柱 /创伤、关节置换、口腔种植以及血管介入医疗领域的手术机器 人自主研发， 核心产品包括髋膝一体关节置换手术机器人、口腔种植机器人、关节置换导航以及口腔种植导 航。 据悉， 该公司已完成核心组件 100%国产化，累计申报知识产权近400项，其中发明专利166项，成功 打破了进口医疗手术机器人产品的技术垄断。 该公司研发的柳叶刀 Dencore®口腔种植导航机器人采用三屏联动的设计，具备实时跟踪和精准定位功能， 可协助医生实现精准无误的口腔种植，为口腔医生提供专业化、数字化、智能化的口腔种植技术支持。目前， 该产品已获得国家药品监督管理局（NMPA）颁发的医疗器械注册证。随着种植牙技术的 ...

2024年，中国制造业总体规模连续15年保持全球第一。产业科技创新持续推进，一批技术含量高、附加 值高的新产品不断涌现，带动产业结构进一步优化升级。从新材料研发，到自动化方案，再到智能制造 产品，中国民营企业将创新成果带到世界各地，为全球经济发展注入活力。 恒力集团有限公司—— 突破技术关，让新材料畅销海外 "它的强度堪比钢丝，把160根丝捆在一块，能拖动一辆小轿车。"在江苏恒力化纤股份有限公司的工业 丝生产车间里，销售经理冯宇辰向记者展示了一卷工业丝。工业丝只比头发丝略粗，摸上去轻盈柔软。 冯宇辰说，正因为这一"超能力"，这种工业丝已远销几十个国家和地区。 车间里，机械臂将一卷卷工业丝轻轻抓起；自动导向车来回穿梭运送物料；"AI大脑"只需3秒，就完成 一个丝饼的全面检测……繁忙的生产背后，是供不应求的市场需求。 "这几年，集团每年出口额保持两位数增长，一个重要原因就是我们有着持续不断的科技创新能力。"恒 力集团有限公司新材料项目厂区技术负责人王培好向记者介绍，过去，高端偏光片膜的核心技术一直被 国外垄断。恒力进行技术攻关10余年，但产品品质依然不尽如人意，海外市场拓展艰难。一家同意试用 的韩国大型企业连续5 ...

Core Insights - In 2024, China's cross-border e-commerce achieved a remarkable total import and export value of 2.63 trillion yuan, marking a 1 trillion yuan increase from 2020, with exports accounting for over 74% [1][3] - The evolution of cross-border e-commerce reflects a significant shift in global trade dynamics, transitioning from "buying overseas" to "selling Chinese manufacturing" [1][3] Group 1: Market Dynamics - One in three cross-border packages originates from China, with Southeast Asia emerging as a new growth area [3] - In the first half of 2024, exports to the U.S. accounted for 34.2%, while exports to the UK, Germany, and France were 8.1%, 6.2%, and 4.5% respectively [3] - Platforms like Temu and AliExpress are gaining traction, with Temu becoming the most downloaded app among Korean adults in 2024 [3] Group 2: Supply Chain and Logistics - The cross-border e-commerce model has evolved from merely transferring excess domestic capacity to a more complex ecosystem involving platforms, supply chains, and logistics [5] - China's comprehensive industrial system and flexible supply chain network are reshaping global trade, with 165 cross-border e-commerce pilot zones established nationwide [5] - Innovations in logistics, such as the "land-sea linkage" model, are significantly reducing transit times and enhancing efficiency [6] Group 3: Policy and Regulatory Changes - The General Administration of Customs has introduced measures to streamline cross-border e-commerce, including eliminating redundant registrations and simplifying procedures [7][9] - New policies allow for faster customs clearance and improved return processes, enhancing the operational capabilities of tech companies [10][11] Group 4: Challenges and Adaptations - The U.S. tariff policies pose significant challenges for Chinese cross-border e-commerce, compelling sellers to adapt to a rapidly changing environment [11][13] - The end of the "small exemption" era forces sellers to confront cost restructuring and value reassessment, leading to the emergence of semi-managed models to mitigate tariff impacts [13][14] - Companies are shifting focus from cost-driven strategies to value-driven approaches, with initiatives to support domestic market expansion amid export pressures [15][16] Group 5: Future Outlook - The transition from "supply chain output" to "brand value output" is essential for Chinese companies to thrive in the evolving landscape [16] - The current challenges may serve as a catalyst for high-quality development, emphasizing the need for innovation and brand differentiation [16][17]