未来，南京将全面实施"人工智能+"攻坚行动，推进人工智能与软件产业深度融合发展，打造中国软件 智能化第一城。(完) （文章来源：中国新闻网） 中新社南京2月2日电 (记者朱晓颖)南京市工业和信息化局2日发布消息，根据中国工业和信息化部软件 业运行快报，江苏南京2025年软件业务收入规模约为10200亿元(人民币，下同)，同比增长16.7%。由 此，软件和信息服务业成为南京首个万亿级产业集群。 作为首个"中国软件名城"，南京在软件和信息服务业领域深耕多年。早在2001年，南京出台了软件和信 息服务业发展专项政策，系统布局发展软件产业。"十三五"时期以来，南京软件业务收入年均增幅超过 12%，2024年该指标达8740亿元，位列中国第四。 2025年，南京建设了江苏省首个人工智能生态街区("AI·镜界")，打造中国首个线上线下融合的智能体集 散中心，138个智能体产品入驻，加快大模型培育。据统计，2025年南京入库人工智能(软件)招商项目 326个，其中投资额亿元以上项目90个、高能级项目21个。 今年1月，南京出台《南京市深入推进"人工智能+"行动打造国家人工智能创新应用先导区升级版实施方 案》《南京市打造"6 ...

【商业航天领航员|东吴计算机王紫敬】SpaceX申请100万颗算力星座，抢占"频轨"即抢占未来6G话语权 这不仅是算力的布局，更是对近地轨道资源的极限挤压。 核心逻辑升级： 1透过"算力"看本质，实为"太空圈地 【商业航天领航员|东吴计算机王紫敬】SpaceX申请100万颗算力星座，抢占"频轨"即抢占未来6G话语权 新闻事件： 1月31日，SpaceX向FCC提交申请，拟部署最多100万颗卫星用于大规模AI推理及数据中心，轨道高度500-2000公 里。 这不仅是算力的布局，更是对近地轨道资源的极限挤压。 核心逻辑升级： 新闻事件： 1月31日，SpaceX向FCC提交申请，拟部署最多100万颗卫星用于大规模AI推理及数据中心，轨道高度500-2000公 里。 这已不是商业选择，而是国家战略必争。 1透过"算力"看本质，实为"太空圈地"： 虽然SpaceX名义上申请的是"AI算力卫星"，但其部署高度（500- 2000km）正是近地轨道（LEO）的黄金地带。 在ITU"先申报先得"的规则下，申请100万颗实则是利用海量卫星物理锁死轨道资源和频谱资源。 未来3-5年将是发射量的指数级爆发期，这将对火箭运力（发动 ...

Group 1: Market Overview - The market is currently in a phase of oscillation, with a strong momentum in technology and cyclical sectors, but the short-term market strength is gradually declining [4][5] - Structural characteristics of the market at high valuation levels include increased difficulty in raising sector valuations, stricter conditions for upward breakthroughs, and heightened sensitivity to liquidity shocks [4] - A correction phase is expected before a new upward stage begins in the second half of 2026, driven by improvements in the fundamental cycle and shifts in asset allocation [5] Group 2: Valuation Comparisons - As of January 30, 2026, the valuation metrics for major indices are as follows: - CSI All Share (excluding ST) PE at 22.5x, PB at 1.9x, at historical 83% and 50% percentiles - SSE 50 PE at 11.7x, PB at 1.3x, at historical 61% and 41% percentiles - CSI 300 PE at 14.2x, PB at 1.5x, at historical 65% and 39% percentiles - CSI 500 PE at 37.9x, PB at 2.6x, at historical 70% and 61% percentiles - ChiNext Index PE at 42.6x, PB at 5.7x, at historical 41% and 67% percentiles [7][8] Group 3: Sector Performance - Industries with PE valuations above the 85th percentile historically include real estate, automation equipment, retail, and electronics (semiconductors) [8] - The white goods sector is currently in the bottom 15th percentile for both PE and PB valuations, indicating potential undervaluation [8] Group 4: Global Asset Allocation - The recent hawkish nomination of Kevin Warsh to the Federal Reserve has led to tightening liquidity expectations, causing significant fluctuations in precious metals [10] - The 10-year U.S. Treasury yield rose to 4.26%, and the dollar index is currently at 97.1, reflecting a tightening monetary environment [10] Group 5: Future Industry Trends - Quantum technology is expected to see significant milestones, with predictions of achieving "quantum supremacy" by the end of 2026 [11][12] - The hydrogen energy sector is witnessing rapid development, with major projects being launched and industry chains forming [12]

Quantum Technology - IonQ announced an $1.8 billion acquisition of SkyWater Technology to accelerate its roadmap towards fault-tolerant quantum computing, with plans to start functionality testing of 200,000 qubit QPUs by 2028 [6][8] - A Chinese research team discovered new principles in quantum systems using the 78-qubit superconducting quantum processor "Zhuangzi No. 2," which enhances the application of quantum computing in fields like financial modeling and drug development [7][9] Biomanufacturing - Kangnuo Biopharmaceutical submitted an application for listing on the Hong Kong Stock Exchange, focusing on mitochondrial medicine and NAD+ applications, with projected revenues of 303 million yuan in 2023 [10][11] - Guangdong Province released an action plan aiming for a 40% self-sufficiency rate in core strains of biomanufacturing by 2027, with a total output value exceeding 500 billion yuan [11] Hydrogen Energy and Nuclear Fusion - Sichuan Fusion New Energy Industry Investment Development Co., Ltd. officially commenced operations, supporting the construction of China's first internationally recognized fusion city [13] - CIMC Anrui announced the successful launch of China's first IV-type hydrogen gas bundle container, marking a significant advancement in domestic hydrogen storage and transportation technology [14] - Mingyang Electric and global leaders in hydrogen equipment established Guangdong Mingnuo Hydrogen Technology Co., focusing on high-end hydrogen equipment production [15] Brain-Computer Interface - Neuralink reported 21 participants in its human trials, with plans to enhance device performance by three times and introduce "blindsight" technology for the visually impaired by late 2026 [23][24] - The National Medical Products Administration in China is advancing the establishment of industry standards for brain-computer interface medical devices [28] Embodied Intelligence - Ant Group's Lingbo Technology open-sourced the LingBot-Depth model, significantly lowering development barriers in the industry and enhancing its competitive edge [31][32] 6G and Commercial Aerospace - CASIC successfully conducted a 120 Gbps laser communication experiment, doubling the previous rate and laying the groundwork for high-speed data transmission in commercial aerospace [33][34] - China plans to expand its "Space+" future industries, focusing on space infrastructure, resource development, and space tourism [36] Future Industry Catalysts - Key milestones for future industries in 2026 include significant events in quantum technology, biomanufacturing, hydrogen energy, brain-computer interfaces, embodied intelligence, and 6G [37][38]

Investment Rating - The report maintains an investment rating of "Outperform the Market - A" [5] Core Insights - The future industry is expected to become a new economic growth point, with significant potential in quantum technology, embodied intelligence, and 6G technology. The report emphasizes the need for strategic planning and government support due to the long cultivation cycle and high market risks associated with future industries [1][11] - Quantum technology is highlighted as the leading sector within future industries, with four key areas expected to drive disruptive innovation: quantum computing, quantum communication, quantum measurement, and post-quantum cryptography [2][12] - Embodied intelligence is identified as a crucial application of artificial intelligence, facilitating the development of humanoid robots and advancing the robotics industry [2][12] - The second phase of 6G technology trials has been initiated in China, with over 300 key technologies developed, focusing on integrating satellite internet as a foundational infrastructure for 6G [3][13] Summary by Sections Industry Investment Rating - The report assigns an "Outperform the Market - A" rating, indicating an expected investment return exceeding the CSI 300 Index by 10% or more over the next six months [5][24] Future Industry Overview - The future industry encompasses a wide range of sectors, including information technology, bio-manufacturing, energy, and high-end equipment manufacturing, with substantial investment value due to its broad development space [1][11] Quantum Technology - Quantum computing is poised to solve complex problems beyond the capabilities of traditional computers, with potential breakthroughs in drug discovery and materials science. Quantum communication aims to enhance secure information transmission, while quantum measurement will improve precision in various fields [2][12] Embodied Intelligence - Embodied intelligence enhances AI's ability to interact with environments, leading to measurable and verifiable applications. Humanoid robots are expected to be key carriers of these algorithms, paving the way for general artificial intelligence [2][12] 6G Technology - The report notes that the first phase of 6G technology trials has been completed, with the second phase now underway, focusing on creating an integrated network that includes satellite internet as a critical infrastructure component [3][13]

Core Insights - The company has made significant progress in its "Connection + Computing Power" business transformation, focusing on three main sectors: operator networks, government and enterprise business, and consumer business [1][4] - The company's revenue for the first three quarters of 2025 reached 100.52 billion yuan, a year-on-year increase of 11.6%, primarily driven by the rapid growth of its computing power business, which saw a revenue increase of 180% [1] - The net profit attributable to shareholders was 5.322 billion yuan, a year-on-year decrease of 33%, mainly due to a slowdown in capital expenditure from operators, impacting the high-margin operator network business [1] Computing Power Business - The company has made major breakthroughs in self-developed chips, including CPU, DPU, and switching chips, benefiting from the development of domestic super node solutions [2] - The computing power business has become the core driver of revenue growth, with server and storage revenue increasing by 250% year-on-year and data center product revenue growing by 120% [1][2] - The company has launched a super node server solution featuring Baidu's Kunlun Heart P800, achieving GPU intercommunication bandwidth of 400GB/S to 1.6TB/S [2] Connection Business - The company maintains a leading position in the global telecommunications market, with an estimated market share of about 11% in 2024 [3] - The construction and user adoption of 5G networks are nearing completion, with 4.598 million 5G base stations built in China by July 2025, resulting in a 79% penetration rate [3] - Capital expenditure from domestic operators is expected to decline by 9.7% year-on-year in 2024, while 5G-A and 6G are emerging as new directions in the telecommunications market [3] Consumer Business - The consumer business encompasses a wide range of AI terminal products, including home terminals, mobile terminals, and cloud computers, with a revenue of 17.235 billion yuan in the first half of 2025, a year-on-year increase of 7.6% [4] - The company is collaborating with ByteDance's Doubao to launch a smartphone assistant, marking a significant step towards creating an "AI-native smartphone" [4] - The strategic transformation of "Connection + Computing Power" is showing initial success, with the server and storage business becoming a key growth engine [4]

2026未来产业新材料博览会 中国未来产业崛起引领全球新材料创新发展 2026年6月10-12日 上海新国际博览中心 新材料是未来高新技术产业发展的基石和先导，新材料的突破将加速未来产业变革! 2026未来产业新材料博览会（上海） (Future Industries New Materials Expo 2026，简称" FINE 2026 ")，由 「 DT新材料 」 主办的 第十届 国际碳材料产业博 览会 (Carbontech 2026)、 热管理产业博览会 (iTherM 2026)和 新材料科技创新博览会 (AMTE 2026)三大展重磅升级而来，旨在打造一个以未来产业终端为引 领、立足国际视野的新材料领域标杆展会。 FINE 2026 ， 以 50,000平 展区 与 超过 300场 战 略与前沿科技报告，全景呈现应用于人工智能、智算/数据中心、具身智能、低空经济、航空航天、智能汽车、 AI消费电子、量子科技、6G、脑机接口、新能源、生物制造等产业的热门创新成果， 并 重点聚焦 未来智能终端 以及 未来产业五大共性需求（先进半导体、先 进电池、轻量化功能化、低碳可持续、热管理） ， 呈现从终端、 ...

Core Viewpoint - The company anticipates a net loss for the fiscal year 2025 due to various factors including industry adjustments, increased R&D investments, and expected impairment losses [1][2]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an expected net profit being negative [1]. - The company has communicated with its accounting firm regarding the performance forecast, and there are no discrepancies between the two parties [1]. Group 2: Reasons for Performance Changes - The primary reasons for the anticipated loss include delays in contract signing due to industry client adjustments and cyclical fluctuations, leading to reduced revenue [2]. - The company has invested approximately 930 million yuan in R&D to enhance its competitiveness in emerging fields such as chips, satellite internet, and 6G technology, which has increased expenditures [2]. - Expected sales and collections for 2025 did not meet projections, prompting the company to propose impairment losses of approximately 220 million yuan for goodwill and 250 million yuan for receivables [2]. Group 3: Strategic Initiatives - The company is actively pursuing market share and expanding into international markets while focusing on both military and civilian products [3]. - In the satellite internet sector, the company has achieved a full industry chain layout, including chips, terminals, and system operations [3]. - The company aims to enhance operational efficiency and economic benefits by targeting new production capabilities and military combat capabilities, while also expanding into civilian and international markets [3]. Group 4: Contract Overview - The company has signed a contract worth approximately 335 million yuan with a special institutional client, which is expected to positively impact revenue and profit [7][14]. - The contract involves wireless communication and Beidou navigation products, and it is expected to account for 6.81% of the company's audited revenue for the most recent fiscal year [11][14]. - The execution of the contract will not affect the company's business independence, as it will not create dependency on the counterparty [16].

证券日报网1月30日讯，中贝通信（603220）在接受调研者提问时表示，公司已成立6G研究院，积极推 动与北邮张平教授团队合作，聚焦语义通信、卫星通信等核心技术方向，加大在6G与卫星互联网融合 领域的投入与战略合作，与产业链伙伴协同推动关键技术攻关、标准制定与应用场景创新，在星地一体 化网络、行业解决方案等领域深化布局，推进相关前沿技术应用场景落地见效。 ...

Investment Rating - The report indicates a significant downgrade in the investment outlook for the company, with a projected net profit drop of 88.92% to 92.61% for 2025 compared to 2024 [2]. Core Insights - The company's photovoltaic business has been severely impacted by new U.S. tariffs, leading to a drastic reduction in profit expectations [4][10]. - The company has decided to exit the renewable energy sector and refocus on its core materials business, which has shown consistent growth [12][14]. - The new materials segment, particularly high-performance copper-based alloys, is positioned to benefit from emerging technology trends, despite the challenges faced in the photovoltaic market [18][20]. Summary by Sections Financial Performance - The company expects a net profit of only 100 to 150 million yuan for 2025, a stark decline from 1.354 billion yuan in 2024 [2]. - A total asset impairment provision of 1.025 billion yuan has been made, significantly affecting the company's profitability [9][10]. Market Challenges - U.S. tariffs of up to 307.78% on photovoltaic products exported from Vietnam have blocked the company's access to the U.S. market [4]. - The new U.S. legislation requires companies controlled by Chinese citizens to reduce their ownership stake to below 25% to qualify for federal subsidies, which the company does not meet [6][7]. Strategic Shift - The company plans to divest its U.S. photovoltaic projects and concentrate on its new materials business, which accounted for 74.62% of revenue in 2024 [14][16]. - The new materials business has shown a compound annual growth rate of nearly 20% from 2019 to 2024, with revenue expected to reach 139.2 billion yuan in 2024 [20][21]. Future Outlook - The global demand for advanced materials is expected to rise due to trends in AI, electric vehicles, and next-generation technologies, which the company aims to capitalize on [22][23]. - The company is already investing in new production lines for liquid cooling materials and collaborating with industry leaders to develop next-generation conductive materials [22].