处理器（CPU）是计算机的核心组成部分，就像"大脑"一样指挥各个部件的运行。今天（26 日）， 我国自主研发的新一代国产通用处理器——龙芯3C6000，在北京发布 。 最新发布的龙芯3C6000采用我国自主设计的指令系统龙架构， 无需依赖任何国外授权技术， 是我国自主研发、自主可控的新一代通用处理器，可满足通算、智算、存储、工控、工作站等 多场景的计算需求 。目前，3C6000系列处理器已获《安全可靠测评公告》当前最高等级二级 认证，可确保关键领域应用安全。 据龙芯中科董秘李晓钰向21世纪经济报道记者介绍，"上市加速了公司的研发迭代，未上市时 龙芯每年推出1—2款新芯片，到现在每年可以推出4—5款左右新芯片，高强度的研发投入提 高了研发迭代的效率，促使公司更快推出适应市场的新产品，加速发展。" 据记者统计，截至2025年5月底， 科创板集成电路领域公司总数达119家，涵盖上游芯片设 计、中游晶圆代工及下游封装测试，形成上下游链条完整、产业功能齐备的发展格局 。 就一季报表现看，科创板110余家集成电路行业公司合计实现营收721.82亿元，同比增长 24%；实现归母净利润44.79亿元，同比增长73%。随着自主 ...

处理器（CPU）是计算机的核心组成部分，就像"大脑"一样指挥各个部件的运行。今天（26 日）， 我国自主研发的新一代国产通用处理器——龙芯3C6000，在北京发布 。 最新发布的龙芯3C6000采用我国自主设计的指令系统龙架构， 无需依赖任何国外授权技术， 是我国自主研发、自主可控的新一代通用处理器，可满足通算、智算、存储、工控、工作站等 多场景的计算需求 。目前，3C6000系列处理器已获《安全可靠测评公告》当前最高等级二级 认证，可确保关键领域应用安全。 中国科学院计算技术研究所研究员、龙芯总设计师胡伟武表示： 3C6 0 0 0的性能 相当于2 0 2 3年或者2 0 2 4年市场主流产品的水平 ，是一个土生土长的CPU，它没 有任何境外技术授权，也不依赖任何境外的供应链，完全是依赖境内的供应链， 而且从指令系统到各种I P核都是自己研发出来的CPU。 此次发布的还有龙芯2K3000/3B6000处理器，同样采用自主指令系统龙架构。该处理器主要面 向智能终端和工控应用，为人工智能等领域应用提供了底层技术支撑。在龙架构生态成果展示 区，基于龙芯处理器的通用算力服务器、存储及工业服务器等全场景产品矩阵也集中 ...

Core Insights - The Chinese cheese industry is experiencing significant growth, driven by consumer demand for high-quality, nutritious products and supported by favorable policies [2][3][4] - Miaokelan Duo aims to achieve cumulative revenue of 19.9 billion yuan over three years, focusing on product innovation and market penetration to elevate the cheese consumption trend in China [1][6] Group 1: Market Potential - As of 2023, China's retail cheese consumption has reached parity with Japan, yet per capita consumption remains low at 200 grams compared to 2000 grams in Japan, indicating substantial growth potential [2][3] - The cheese market in China is projected to exceed 30 billion yuan by 2025, supported by government initiatives and increasing consumer health awareness [2][3] Group 2: Company Strategy - Miaokelan Duo is implementing a dual-driven strategy (B+C) to enhance brand value and product matrix, aiming to lead the transition from milk consumption to cheese consumption [1][6] - The company has established a comprehensive supply chain and quality management system to ensure product safety and innovation in cheese production [1][5] Group 3: Financial Performance - In 2024, Miaokelan Duo reported revenue of 4.844 billion yuan, with a 6.92% increase in cheese business revenue and a significant net profit growth of 89.16% [6] - The company aims for a cumulative revenue of no less than 19.9 billion yuan and a net profit of at least 990 million yuan from 2025 to 2027 [6][7] Group 4: Industry Trends - The cheese segment is recognized as a rapidly growing and active market within the dairy industry, with retail cheese product sales growing at an annual rate of 21% from 2015 to 2022 [3][4] - The industry is shifting towards high-value, refined processing of dairy products, with a focus on original cheese production and innovative snack products [2][5]

Group 1 - The A-share market experienced fluctuations on June 26, 2025, with the Sci-Tech Innovation Board leading the gains, particularly in the computer and semiconductor sectors, where stocks like Xinyi Sheng and Haiguang Information rose nearly 6% [1] - The China Securities Regulatory Commission (CSRC) announced support for AI and other cutting-edge technology companies to apply the fifth listing standard on the Sci-Tech Innovation Board, enhancing institutional inclusiveness [1] - The reform aims to serve high-quality tech companies with significant breakthroughs, broad commercial prospects, and continuous R&D investment, while also strengthening information disclosure and risk revelation [1] Group 2 - Domestic wafer manufacturers and memory manufacturers are increasingly motivated to procure domestic alternatives to ensure supply chain security and production capacity, benefiting companies in semiconductor equipment, materials, and EDA fields [2] - The Southern AI ETF (159382) closely tracks the AI index of the ChiNext, reflecting the stock price changes of listed companies related to the AI theme [2] - The top ten weighted stocks in the Southern AI ETF include Xinyi Sheng, Zhongji Xuchuang, Softcom Power, and others [2] Group 3 - The Southern Chip ETF (588890) tracks the Shanghai Sci-Tech Innovation Board Chip Index, which selects securities related to semiconductor materials, equipment, design, manufacturing, packaging, and testing [3] - The top ten weighted stocks in the Southern Chip ETF include SMIC, Haiguang Information, and Hanwha Technology [3] Group 4 - The Southern Double Innovation ETF (159780) tracks the CSI Sci-Tech Innovation 50 Index, which selects 50 large-cap emerging industry stocks from the Sci-Tech Innovation Board and ChiNext [3] - The top ten weighted stocks in the Southern Double Innovation ETF include CATL, SMIC, and Mindray Medical [3]

Market Performance - The military sector has shown strong performance for two consecutive days, with stocks like North Navigation, Guorui Technology, and Wanlima experiencing significant gains, including multiple stocks hitting the daily limit up [1][2] - Notable stocks include Changcheng Military Industry with a 9.99% increase, Wanlima with a 20.05% increase, and Hunan Tianyan with a 9.97% increase [3] Events - A major military parade is scheduled for September 3, showcasing domestically produced military equipment, including new-generation traditional weapons and advanced combat capabilities [4] - NATO has announced plans to increase military spending to 5% of GDP by 2035, indicating a significant shift in defense budgets [4] Institutional Insights - The upcoming military parade is seen as a strategic declaration of China's military capabilities and a driver for the military industry, emphasizing "domestication," "new quality," and "systematization" as key trends [4] - The military industry is expected to benefit from global military development changes and internal growth driven by strong planning, amidst increasing geopolitical tensions [4] - Historical trends indicate that significant market movements in the military sector have been driven by asset restructuring and large contracts, with expectations for continued restructuring in 2025 [4] - Global military spending is projected to reach $27.18 billion in 2024, marking a 9.4% increase from 2023, the largest annual growth since the Cold War [4][5]

江苏神通机构投资者路演活动会谈 及电话会议调研会议纪要 会议时间：2025 年 6 月 24 日—6 月 25 日 会议主持：章其强 会议记录：陈鸣迪 出席人数：12 名 答：当前，公司 2024 年二季度启动实施的原募投项目——高端阀门智能制造项 目土建工程已完工，正在施工室外配套和给排水等附属工程，下一步即将进入设 备安装和调试阶段，预计年底前可陆续投入试生产，未来随着高端阀门智能制造 项目的建成投产，预计可新增满足不少于 4 台新建核电机组所需的公司核心阀门 产品的产能。 会议地点：董事会秘书办公室、浦东香格里拉酒店、凯宾斯基酒店 一、会议开始 本次机构投资者电话调研会议由甬兴证券组织，路演活动由天风证券、国金 证券组织，公司副总裁兼董秘章其强先生应约参加交流活动，公司副总裁兼董秘 章其强首先向参加此次电话会议及路演活动的机构投资者表示感谢，向投资者介 绍了公司基本情况、公司发展战略规划及近期主要工作的进展情况，同时强调了 关于遵守承诺函的约定和上市公司信息披露的有关规定。 二、沟通交流 问：请问公司核电行业的阀门订单获取后，收入确认需要多长时间？ 答：核电新建项目所需的阀门设备从接到订单到交付的时间周 ...

Core Viewpoint - The article discusses the recent developments in the production of polyimide (PI) films in China, highlighting the investments and projects by various companies, particularly Inner Mongolia Zhongke Jiuyuan New Materials Technology Co., Ltd., which is expanding its production capacity to meet the growing demand in high-tech applications [2][4][16]. Group 1: Company Developments - Inner Mongolia Zhongke Jiuyuan has initiated a PI film production project with a total investment of 700 million yuan, planning to set up 24 production lines with an annual capacity of 3,000 tons [2]. - The company is a wholly-owned subsidiary of Zhejiang Zhongke Jiuyuan, which has signed a total investment agreement of 2.1 billion yuan for PI film production projects, including an initial phase with 24 production lines and a future phase with an additional 48 lines [4]. - Zhongke Jiuyuan has established nearly 50,000 tons of related production capacity across various provinces including Zhejiang, Anhui, Inner Mongolia, and Shanxi [4]. Group 2: Market Potential and Applications - PI films are recognized for their unique properties such as high mechanical performance, chemical resistance, flexibility, thermal stability, and electrical insulation, making them suitable for applications in flexible circuit boards, displays, and electronic devices [6]. - The demand for PI films is expected to grow significantly, particularly in the emerging 5.5G/6G technology sectors, where PI's dielectric performance can be enhanced through specific formulations [6][16]. - The global market for PI films is currently dominated by foreign companies, with major players holding approximately 80% of the high-end PI film market share [16]. Group 3: Technological Advancements - Recent advancements in domestic PI film production have led to the emergence of several companies capable of breaking the foreign monopoly, with notable examples including Zhuzhou Times New Material Technology, which has developed high-end electronic-grade PI films [8][9]. - Innovations in production processes, such as the introduction of AI algorithms for optimizing film thickness and efficiency, have been reported, enhancing production capabilities and quality [14]. - Research teams are also making strides in developing new materials, including bio-based PI materials and high thermal conductivity composites, indicating a trend towards more sustainable and high-performance products [15][13].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company is recognized as a leading domestic alternative to VMware in the hyper-converged infrastructure (HCI) market, achieving a market share of 20.2% in Q4 2024 and 17.5% for the entire year, making it the top player in China's HCI market [7] - The acquisition of VMware by Broadcom has led to increased costs and customer churn due to higher subscription fees and bundled sales, creating an opportunity for the company to capture market share [7] - The company has developed a competitive edge with its virtualization performance, comprehensive migration tools, and future-proof architecture that supports AI upgrades without requiring significant infrastructure changes [7] - Key clients, including Guojin Securities and Jianghuai Automobile, have successfully migrated their critical operations to the company's solutions, indicating strong market acceptance [7] - The company is expected to benefit from a strategic shift in market sales and organizational structure, with revenue forecasts for 2025 and 2026 adjusted to 82.50 billion and 91.13 billion yuan, respectively [7] Financial Data and Profit Forecast - Total revenue is projected to be 8,250 million yuan in 2025, with a year-on-year growth rate of 9.7% [6] - The net profit attributable to the parent company is expected to reach 372 million yuan in 2025, reflecting an 89.2% increase compared to the previous year [6] - Earnings per share are forecasted to be 0.88 yuan in 2025, with a projected return on equity (ROE) of 3.9% [6]

以下文章来源于财通社 ，作者财通社 财通社 . 财通社专注于港美股IPO，深度研究港美股、中概股、美股明星股财报，为价值投资者服务。财通社团队成员来自国内一流 财经证券媒体记者编辑，拥有证券从业资格证书。 作者 | 财通社 来源 | 财通社 导语： 澜起科技创始人杨崇和与戴光辉仅分别持有218万股，但2024年，他们均从公司各领取了999万元税前报 酬。 在半导体国产化热潮下，A股上市IC设计公司澜起科技(688008.SH)正筹划赴港上市。 6月20日晚间，澜起科技官宣发行H股股票并在港交所上市的计划。 不过，与其高调IPO计划形成对比的是，澜起科技账上仍躺着超过70亿元的现金及现金等价物。 这一"有钱还融资"的操作，也在市场上引发疑问：澜起科技到底意欲何为？ 根据澜起科技公告，公司将"在股东大会决议有效期内选择适当的时机和发行窗口完成本次发行"，并拟聘请安永作为本 次H股发行并上市的审计机构。 今天，彭博社援引知情人士消息称，澜起科技已聘请投行负责筹备其计划中的香港IPO，规模或达10亿美元。 知情人士表示，澜起科技正与中金公司、摩根士丹利和瑞银集团就潜在香港IPO进行合作。 一旦成功，这将成为又一个"A ...

华泰证券指出，电子纱市场价格稳定运行，高端电子纱及电子布供需仍然紧张，部分高端产品如Low- Dk和Low-CTE等需求缺口明显，价格涨后暂稳运行，后期仍有望提价。玻纤行业方面，海外产能关停 导致部分高端电子纱及电子布供需紧张，国内无碱粗纱市场价格平稳运行，但风电及汽车客户抢出货驱 动下，风电纱及热塑纱延续结构性高景气。电子材料领域，低空无人机和出口需求大增推动碳纤维中高 端品类供需延续紧平衡，人形机器人和低空飞行器制造等板块有望提振碳纤维材料需求。 今日，科创芯片ETF（589100）涨超1.9%，半导体设备国产化与电子行业需求增长获关注。 （文章来源：每日经济新闻） 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 科创芯片ETF国泰跟踪的是科创芯片指数，该指数由中证指数有限公司编制，从科创板市场中选取业务 涉及半导体材料、设备、设计、制造、封装 ...