今年4月，由天九共享网科集团自主研发的"天星穹"大模型，与百度千帆、小米澎拜视觉、豆包视觉模 型等23个大模型，成功通过了"生成式人工智能服务备案"；该大模型于2024年便已通过国家互联网信息 办公室的"境内深度合成服务算法备案"。 以"天星穹"大模型为依托，老板云2025年启动科技服务升级，而一键企服AI集成平台是此次升级的重要 组成部分。围绕"人、家、企、社"四大场景，一键企服AI集成平台将为高净值企业家打造包含商旅规 划、高端运动、个人IP打造、视频问诊、AI健康评测、海外医疗、家庭旅游、二代教育、金融服务等多 重功能的私享服务体系。 5月22日，在由中国产业发展促进会指导，天九科协、天九老板云联合主办的2025第五届创客万里行启 动仪式暨天九科协成立三周年庆典上，天九共享集团董事局共同主席、天九企服董事长兼CEO、天九共 享集团科学技术协会主席戈峻表示，科技正在打破行业边界、资源边界、能力边界。这个过程中，商业 逻辑被重塑，小微企业也可能拥有巨头级的能力。 他强调，当能力边界被拓展，认知壁垒被打破，资源流动不再受限，新的物种、新的商业模式和产业格 局便会应运而生。这也正是"创客万里行"活动的核心价值所 ...

Core Viewpoint - Demai Shi (301007) experienced a significant stock price surge, reaching a 20% limit up on May 23, following the announcement of a change in its actual controller to Pan Yi, a notable figure in the industry [1][3]. Company Summary - Demai Shi's controlling shareholder, Dalian Demai Shi, signed a framework agreement to transfer 100% of its equity to Suzhou Huixin Chuangzhi Investment Co., Ltd. for a transaction price of 669 million yuan [3]. - After the transaction, Huixin Chuangzhi will become the indirect controlling shareholder of the listed company, with Pan Yi taking over as the actual controller from He Jianping [3]. - Huixin Chuangzhi was established on April 3, 2023, with a registered capital of 500 million yuan and no paid-in capital [3]. - Pan Yi holds a 60% stake in Huixin Chuangzhi and is supported by several other notable figures from the "Huichuan system" [3][5]. Industry Context - Pan Yi is a co-founder of Huichuan Technology and has held significant positions in various companies, including Hainan Airlines and Huawei [4]. - The entry of Huixin Chuangzhi is aimed at leveraging advantages for business development, improving operational efficiency, and enhancing returns for public shareholders [3]. - Pan Yi's previous investments in Demai Shi through the secondary market indicate a strategic interest in the company prior to the acquisition [5].

Economic Overview - The overall economic operation of the province is stable and improving, with a solid foundation for stability and continuous expansion of new growth spaces, indicating a trend towards high-quality development [2] - From January to April, the industrial added value above designated size increased by 8.1% year-on-year, slightly down by 0.1 percentage points compared to the first quarter [2] Industrial Performance - In April, the industrial added value above designated size grew by 8% year-on-year, a decrease of 1.1 percentage points from March [2] - Among the 40 major industrial categories, 36 achieved year-on-year growth, resulting in a growth rate of 90% [2] - Advanced manufacturing sectors showed strong performance, with equipment manufacturing growing by 10.9%, high-tech manufacturing by 12.9%, and core digital product manufacturing by 11.4%, all exceeding the overall industrial growth rate [2] Consumer Market - The province's consumer market remained stable, with total retail sales of consumer goods reaching 15,991.9 billion yuan, a year-on-year increase of 5.5% from January to April [3] - The growth of green and smart consumption is a highlight, with retail sales of new energy vehicles and energy-efficient appliances increasing by 59.7% and 60.5% respectively in April [3] - Online retail sales from January to April grew by 28.3%, contributing 5.8 percentage points to the total retail sales, with online sales accounting for 24.3% of total retail sales [3] Investment Trends - The province is focusing on key areas and weak links to actively expand effective investment, with infrastructure investment growing by 10.9% year-on-year from January to April, an increase of 2.6 percentage points compared to the first quarter [4][5] - Investments in infrastructure projects of 500 million yuan and above grew by 8.7% and 9.7% respectively [5]

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **US-China technology competition** and its implications across various sectors, including **artificial intelligence (AI)**, **semiconductors**, **advanced manufacturing**, **biopharmaceuticals**, and **5G technology** [7][11][24][45]. Core Insights and Arguments 1. Technology Competition Landscape - The US and China are engaged in intense competition in key technology areas, impacting economic, national security, and global influence [7][11]. - Both countries have increased investments in AI, semiconductors, and advanced manufacturing in recent years [7][11]. - The report aims to provide a comprehensive diagnosis of technology competition for government policy and investment recommendations [7][11]. 2. Key Findings - **China's Infrastructure Advantage**: China leads in manufacturing, 5G, and battery technology [11]. - **US Leadership in Cutting-Edge Technologies**: The US maintains an edge in AI, quantum computing, and biotechnology [11]. - **Diverging Priorities**: Some US industry stakeholders have shifted focus to AI and fintech, while government agencies continue to prioritize advanced networks and computing [11]. - **Commercialization Gaps**: China leads in biomanufacturing and biopharmaceutical markets [11]. 3. Advanced Battery Technology - China dominates battery production, while the US aims to close the gap through initiatives like the Inflation Reduction Act (IRA) [17][19]. - The number of US battery facilities is projected to increase from 2 in 2019 to over 34 by 2024, with nearly $43 billion in investments from 2023 to 2024 [17][19]. 4. Advanced Manufacturing - China accounts for 35% of global manufacturing output, significantly higher than the US's 12% [24]. - The Chinese government has ramped up support for advanced manufacturing, with loans increasing from $63 billion in 2019 to $680 billion in 2023 [24]. - The US leads in generative AI and smart manufacturing software, driving innovation in advanced manufacturing [24]. 5. Artificial Intelligence - The US AI ecosystem is led by private companies, with significant investments and talent concentration [29][30]. - China has emerged as a strong competitor, with a growing number of large model developers and advancements in AI applications [30]. 6. Biopharmaceuticals - The US remains dominant in innovation, supported by strong intellectual property protections and high research funding [33]. - China is accelerating its biopharmaceutical innovation, with investments reaching $21 billion in 2023 [33]. 7. Commercial Drones - China leads the global commercial drone market, with DJI holding over 90% of the consumer market share [40]. - US security concerns over Chinese drones have led to increased scrutiny and potential market restrictions [40]. 8. 5G Technology - China has deployed over 4 million 5G base stations, far exceeding the US's 100,000 [45]. - Chinese companies like Huawei and ZTE dominate the global 5G equipment market due to competitive pricing and government support [45]. 9. Fusion Energy - The US leads in fusion research and investment, achieving significant milestones in net energy gain [54]. - China is investing heavily in fusion infrastructure, with a focus on commercial applications [54]. Important but Overlooked Content - The report highlights the potential for AI to accelerate battery material research, significantly reducing development time from 20 years to one week [20]. - The US faces challenges in AI data center energy consumption, projected to account for 8% of US electricity by 2030 [32]. - The emergence of new training paradigms for AI models could address computational resource shortages [32]. - The geopolitical landscape may influence the future of technology collaboration and competition, particularly in biopharmaceuticals and AI [35][66]. This summary encapsulates the critical insights and findings from the conference call, providing a comprehensive overview of the current state and future outlook of US-China technology competition across various sectors.

灿瑞科技公告，公司拟与中芯聚源私募基金管理(上海)有限公司及其全资子公司聚源盛业投资(宁波)有 限公司等共同投资设立聚源启新股权投资基金(无锡)合伙企业(有限合伙)，主要专注于半导体、集成电 路、人工智能、新材料、先进制造等硬科技领域的投资。灿瑞科技作为有限合伙人以自有资金认购人民 币2000万元，占出资总额的2.5%。本次投资不涉及关联交易，亦不构成重大资产重组。 ...

太极实业（600667）公告，公司拟与中芯聚源及其全资子公司聚源盛业、无锡创投等共同投资设立聚源 启新股权投资基金(无锡)合伙企业(有限合伙)，启新基金认缴出资总额为人民币8亿元，其中公司作为有 限合伙人认缴出资人民币7200万元，占认缴出资总额的9%。启新基金主要投资半导体、人工智能、新 材料、先进制造等领域。 ...

上海新阳(300236.SZ)公告称，公司拟以自有资金参与由 中芯聚源发起设立的 股权投资基金，该基金名 称为聚源启新股权投资基金（无锡）合伙企业（有限合伙），认缴出资总额为8亿元，公司作为有限合 伙人认缴出资3000万元，占认缴出资总额的3.75%。合伙企业重点投资普通合伙人、管理公司或其关联 方设立、投资或管理的专注于半导体、集成电路、 人工智能、 新材料、 先进制造等硬科技领域的私募 股权或创业投资子基金或为实现该等目的而组建的集合投资工具。 ...

他表示，我们所生活的世界缺乏很多的合作，美国由于单边主义及关税措施，经济将会放缓，生产力也 会下滑。欧洲将会继续投资研发，但是人口老龄化严重，想要经济高增长是非常困难的，生产力增长也 停滞不前。而新质生产力可以让生产力大幅提高，生产力发展了才能够推动经济的增长。牛津有一个研 究学院就此做了一项研究：新质生产力可以让工人的生产力提高的程度有多大，还有人工智能、先进制 造、机器人、其他前沿科技怎样才能够提高人们的生产力。人们的生产力提高，就可以去产生创新想 法，开发新的产品，开创新的管理体系，同时又可以解决人口老龄化的问题。因此，对于各个社会来 讲，新质生产力是非常关键的，因为老龄人有很多的需求是机器无法能够满足的，人形机器人可以帮我 们提供更多养老方面的服务。现在制药公司、医疗行业都在做研发，能够让人们生命增长、生活质量提 高。同时AI人工智能、人形机器人也非常关键，可以帮助老年人与社会保持连接，提高他们的寿命。 现在深圳的实验室，还有中国各个城市的实验室都在做各种各样的研发，推动生物医药的发展，能够让 我们更好的攻克人类所面临的疾病，包括像癌症、心脏病等其他各种疾病。我们已经看到了这些领域的 很多突破和进展， ...

今日，在深交所2025全球投资者大会上，中国证监会副主席李明致辞称，2024年以来新上市的公司中， 高新技术企业占比超过九成，全市场战略性新兴产业上市公司市值占比超过4成，先进制造、数字经 济、绿色低碳等领域快速涌现出一批龙头企业，在全球竞争中崭露头角，被全球投资者广泛关注。上市 公司创新动力强劲，2024年实体上市公司研发费用合计1.6万亿元，同比增长3.1%，超过800家上市公司 研发强度超过10%。(智通财经) ...

Group 1 - Employment is a crucial aspect of people's livelihood and national development, with the number of college graduates expected to reach 12.22 million in 2025, an increase of approximately 430,000 from 2024, representing a growth rate of 3.65% [1] - There is a significant structural mismatch in the job market, with a gap between the supply of job positions and the demand from graduates, as well as a misalignment between university programs and market needs, leading to both "employment difficulties" and "labor shortages" [1] - Emerging industries such as artificial intelligence, quantum information, new energy, biomedicine, and advanced manufacturing are becoming key drivers of economic growth, creating a substantial demand for high-quality professional talent [1] Group 2 - There is a need to enhance the employment capabilities of college graduates through a combination of classroom teaching and extracurricular practice, moving away from traditional education models [2] - Universities should encourage students to participate in innovation and entrepreneurship training programs, integrating practical experiences into the talent cultivation system to prepare them for the workforce [2] - Graduates are encouraged to shift their employment perspectives and seek opportunities in small and medium enterprises, rural areas, and grassroots positions, where they can leverage their skills and achieve significant accomplishments [2]