小米集团创始人、董事长兼CEO雷军6月16日在其微博发文称，小米YU7将于6月底发布。还有很多重磅 新品同场一起发布，比如搭载玄戒O1芯片的第二款平板：小米平板7S Pro。 长江证券研报表示，YU7上市将有望延续SU7的成功，再现爆款。伴随着纯电SUV上市，单车均价及销 量均有望增长，毛利率和经营性支出将得到进一步改善。2025年有望实现净利润转正。 雷军表示，小米YU7将2200MPa超强钢应用于车身前后车门防撞梁，共计4根。在车辆遭遇侧碰时，能 够为乘员舱提供更为坚实的保护屏障。 他表示，这一设计使得前门承载能力显著提升52.4%，防撞梁吸能性能提升40.2%；后门承载能力提升 37.6%，防撞梁吸能性能提升25.4%。 6月3日，雷军曾在小米投资者大会上透露，小米的汽车业务亏损正在逐步收窄，预计将在今年第三季度 到第四季度实现盈利。在YU7的智驾研发投入上，总预算达到35亿元，整体投入在行业处于领先水平。 据了解，小米YU7定位为"豪华高性能SUV"。雷军此前介绍了小米YU7四款配色——宝石绿、钛金属、 寒武岩灰、熔岩橙。他表示，还有5款将在之后的发布会上介绍。 小米YU7长宽高分别为4999/199 ...

研究报告 Research Report 16 Jun 2025 华润啤酒 China Resources Beer Holdings (291 HK) 业绩修复明确，估值具备吸引力 Clear earnings recovery with attractive valuation [Table_yemei1] 观点聚焦 Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$24.90 目标价 HK$35.60 HTI ESG 2.6-2.0-4.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$80.78bn / US$10.29bn 日交易额 (3 个月均值) US$70.62mn 发行股票数目 3,244mn 自由流通股 (%) 48% 1 年股价最高最低值 HK$35.85-HK$22.10 注：现价 HK$24.90 为 2025 年 06 月 13 日收盘价 资料来源： Factset 1mth 3mth ...

浙江泰坦股份有限公司 投资者关系活动记录表 证券代码：003036 证券简称：泰坦股份 债券代码：127096债券简称：泰坦转债 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | ☑其他（华西证券 年中期投资策略会） □现场参观 2025 | | | （以下排名不分先后） 国弘天下資本集团有限公司：康超、孙世文 | | | 华泰保兴基金管理有限公司：尚烁徽 | | 参与单位名称及 | 上海慧志杰商务咨询有限公司：龙安平 | | 人员姓名 | 华西证券股份有限公司：戚舒扬、黄思源 | | | 中财集团：赵平平、杨旭 | | | 上海岙夏投资管理有限公司：周志康 | | | 国泰海通证券股份有限公司：位洪明、董山青、朱寿荣 | | | 上海宏颐投资管理有限公司：熊城 | | | 山西证券公司：李培玉、杨杰 | | | 招商证券：肖瑞清 | | | 深高投资：高振华 | | | 浙江亿商汇产融科技发展集团：梅董董 | | | 上海兆石投资管理有限公司：范倩文 | | | 上海复胜资产管理合伙 ...

Core Viewpoint - The issuance of the "Opinions on the Innovative Development of Measurement in the Manufacturing Industry" by the Ministry of Industry and Information Technology marks a significant milestone in enhancing measurement capabilities for high-quality development in China's manufacturing sector [1][4]. Group 1: Key Objectives and Goals - The document outlines three main areas: strengthening effective supply of measurement in manufacturing, deepening application empowerment, and promoting innovation and upgrading in measurement [4]. - By 2027, the goal is to achieve significant progress in manufacturing measurement, including breakthroughs in over 100 key calibration technologies, revising over 300 industry calibration standards, and developing over 100 sets of measurement instruments and standard substances [4]. - The resilience and safety of the industrial supply chain will be significantly improved, with the aim of cultivating over 50 high-quality instrument enterprises and establishing over 10 high-level calibration service institutions [4]. Group 2: Specific Measures and Implementation - The "Opinions" propose specific measures focusing on emerging fields to address challenges such as "unmeasurable" and "inaccurate" measurements, utilizing methods like "ranking and challenging" to overcome key common technologies [5]. - On the supply side, there will be an acceleration in the research and development of high-end measurement instruments and standard substances, along with the improvement of measurement technical standards [5]. - The document emphasizes the need for enhanced organizational implementation, increased resource investment, industry guidance, and deepened international cooperation to ensure the effective execution of tasks [5].

以下文章来源于中国工程机械工业协会 ，作者宣传工作部 大家上午好！ 欢迎大家出席今天的BICES 2025新闻发布会暨展商预备会。首先我代表中国工程机械工业协会 （以下简称协会）和BICES主办方向各位嘉宾和广大展商、观众和媒体朋友们长期以来对工程机 械行业发展和北京BICES展会的关心和支持表示衷心的感谢！ 下面我就工程机械发展情况，谈以下三点，供大家参考。 一、2025年以来工程机械行业经济运行情况 2025年以来，工程机械行业全面贯彻落实党中央决策部署，更好地把握行业发展方向，积极应对 国内外市场环境变化，求真务实、奋发有为，全行业取得了一批科技创新成果，产业基础高级化 和产业链现代化水平继续提高，国际化进程持续加快，高质量发展扎实推进。 ㈠ 行业经济运行持续稳定，协会重点联系企业主要经济指标保持增长。 中国工程机械工业协会 . 中国工程机械工业协会是经中华人民共和国民政部正式批准登记注册的全国性工程机械行业组织，是由 工程机械行业的制造企业、科研设计检测单位、高等院校、维修、使用、流通单位及其它有关工程机械 行业的企事业单位自愿联合组成的具有法人地位的社会团体。 2025年6月12日，中国（北京）国际 ...

以下文章来源于中国工程机械工业协会 ，作者宣传工作部 中国工程机械工业协会 . 中国工程机械工业协会是经中华人民共和国民政部正式批准登记注册的全国性工程机械行业组织，是由 工程机械行业的制造企业、科研设计检测单位、高等院校、维修、使用、流通单位及其它有关工程机械 行业的企事业单位自愿联合组成的具有法人地位的社会团体。 2025年6月12日，中国（北京）国际工程机械、建材机械及矿山机械展览会（以下简称BICES 2025）新闻发布会暨展商预备会在京隆重召开。会上，中国工程机械工业协会会长苏子孟以 《2025年以来工程机械行业运行情况与全年展望》为题发表讲话，以下为讲话实录。 尊敬的各位嘉宾，女士们、先生们： 大家上午好！ 欢迎大家出席今天的BICES 2025新闻发布会暨展商预备会。首先我代表中国工程机械工业协会 （以下简称协会）和BICES主办方向各位嘉宾和广大展商、观众和媒体朋友们长期以来对工程机 械行业发展和北京BICES展会的关心和支持表示衷心的感谢！ 下面我就工程机械发展情况，谈以下三点，供大家参考。 ㈡ 纳入协会统计的工程机械十二大类主要产品销量整体上趋稳，稳中向好。 1—4月份，协会月报统计的12 ...

以下文章来源于中国工程机械工业协会 ，作者宣传工作部 苏子孟在发言中表示，虽然外部环境变化带来的不利影响增多，国际形势严峻复杂，但随着宏观 调控力度的加大，政策效应叠加发力，支撑行业稳定运行和高质量发展的有利因素会继续集聚增 多，中国工程机械行业的发展环境将稳步向好。凭借我国工程机械技术、产品和服务等越来越受 到国际用户的认知、认可和行业企业海外业务布局的不断完善、升级，今年全行业出口额仍将保 持较高水平。 综合判断，预计2025年全年中国工程机械行业将继续呈现平稳运行、稳中有进的发展态势，主要 经济指标将稳定增长，对外贸易保持基本稳定。 关于当前行业的主要工作，苏子孟提出，2025年行业的重点工作包括全面贯彻落实党中央决策部 署，更好的把握行业发展方向，求真务实、奋发有为；高质量推进国际化发展；破解"内卷式"竞 争，构建健康的发展生态；积极利用人工智能技术赋能行业高质量发展；乘势而上，高质量完成 工程机械行业"十四五"发展目标任务；凝聚力量，办一届高品质的北京BICES工程机械展。 苏子孟表示，BICES 2025将全面展示工程机械行业最新发展成果和适合更多场景的施工解决方 案与装备，充分体现工程机械行业" ...

Industry Overview - Sponge titanium is a crucial raw material for producing titanium alloys and other titanium materials, characterized by its light gray granular or porous form [2] - The upstream of the sponge titanium industry chain includes titanium ore and other raw materials, while the downstream applications span various sectors such as aerospace, chemical, marine engineering, and medicine [2][4] Production Side - China's sponge titanium production capacity has significantly increased, with output rising from 75,000 tons in 2020 to 256,000 tons in 2024, reflecting strong industry vitality [4][6] - China is the world's largest sponge titanium producer, with its global market share increasing from 58.57% in 2020 to 67.23% in 2024, driven by technological innovations and efficient production processes [4][6] Import and Export - China's trade dynamics for sponge titanium have shifted from a net import to a net export status, with exports reaching 6,000 tons in 2024, a slight increase from the previous year [8] - The average import price of sponge titanium plummeted to 14,600 yuan per ton in 2024, down from 47,900 yuan per ton in 2023, indicating improved competitiveness of Chinese products in the international market [8] Consumption Side - The demand for sponge titanium is primarily driven by the titanium material sector, with apparent consumption growing from 78,700 tons in 2018 to 250,100 tons in 2024, supported by domestic and international market expansion [10] Competitive Landscape - The sponge titanium production capacity is concentrated among a few companies, with the top four firms accounting for 63% of the total capacity, indicating a relatively balanced competitive environment [12] Development Trends 1. Continuous growth in production and demand, with a notable shift towards high-end applications driven by sectors like aerospace and marine engineering [18] 2. Price volatility and cost pressures are prevalent, with significant price increases reported in 2025, while competition intensifies in the mid to low-end product segments [19] 3. Technological innovation and green manufacturing are key drivers for industry upgrades, with companies focusing on energy efficiency and sustainable practices [20]

Core Insights - The Chinese engineering machinery industry is increasingly recognized and accepted by international users, with ongoing improvements in overseas business layouts and a forecasted high export level for the year [1] - The industry is expected to maintain stable growth in key economic indicators and foreign trade by 2025, reflecting a steady operational trend [1] Group 1 - The China International Engineering Machinery, Building Materials Machinery, and Mining Machinery Exhibition (BICES 2025) is set to showcase innovations and advancements in the industry, with a significant increase in exhibitors, particularly in high-end, intelligent, and green supply chains [2] - The total exhibition area is expected to exceed 150,000 square meters, featuring four major themed pavilions and 13 special zones [2] - The BICES 2025 will highlight new products, technologies, and achievements, focusing on high-end, green, and intelligent developments, along with a report on the progress of these innovations [2]

Core Viewpoint - The company plans to change part of its fundraising project from "Heyuan New Energy Magnetic Integrated Device Intelligent Manufacturing Project" to "Philippines New Energy Magnetic Integrated Device Intelligent Manufacturing Project," with a new subsidiary in the Philippines as the implementation entity [1][6][8]. Fundraising Overview - The company raised a total of RMB 435.50 million through a private placement of 13,089,870 shares at RMB 33.27 per share, with a net amount of RMB 420.57 million after deducting issuance costs [1][2]. - As of March 31, 2025, the company has invested RMB 130.15 million in the Heyuan project, with RMB 123.20 million remaining [4][5]. Project Changes and Implementation - The company has decided to allocate RMB 70.34 million from the Heyuan project to the new Philippines project to enhance fundraising efficiency and adapt to market conditions [6][9]. - The new project in the Philippines aims to establish a manufacturing base with a total construction area of 15,000 square meters, expected to produce 1 million magnetic components and 180,000 power products annually, generating an estimated annual revenue of RMB 110.20 million [8][12]. Strategic Rationale - The shift to the Philippines is intended to mitigate risks associated with trade uncertainties and enhance the company's competitive edge in the global supply chain [6][9]. - The Philippines is strategically located along the "Belt and Road" initiative, providing access to emerging markets like India, Indonesia, and Malaysia, which aligns with the company's long-term growth strategy [9][12]. Financial Projections - The project is projected to have a post-tax internal rate of return of 18.68% and a static investment payback period of 6.08 years, indicating strong profitability potential [18]. Corporate Governance - The company's board and supervisory committee have approved the changes, and the sponsor institution has issued a no-objection opinion, ensuring compliance with relevant regulations [19][20].