宁波市海曙区科技局一名干部告诉记者，不少企业期盼有专业过硬、视野开阔的科研人士助力，梳理创 新需求、制定创新规划、构建创新机制，"但这样的人并不好找"。 对不少科研机构而言，学科专业建设常常跟不上产业迭代速度，学生培养缺少实操实训，传统学科人才 培养难以适应新产业新业态。事实上，科技赋能提升产业竞争力有着广泛需求，而诸多前沿科技突破同 样来源于产业需求的反向驱动。 让车间与实验室同频共振。宁波市委组织部介绍，探索"科技副总""产业教授"机制，是从实施创新驱动 发展战略面临的实际出发，更好满足科研机构和企业需求，推动科技创新和产业创新深度融合。 "建机制""优政策""搭平台"保障实效 新华社北京12月26日电 12月26日,《新华每日电讯》发表题为《教授"下车间" 工匠"上讲堂"——宁波探 索科技创新和产业创新深度融合》的报道。 以机制为保障，组织大学教授"下车间"展开研发创新，企业工匠"上讲堂"传递产业动态……中国制 造"单项冠军之城"浙江宁波近年率先探索"科技副总""产业教授"制度，让科研人员与产业人才"双向奔 赴"、推动科技创新和产业创新深度融合，展现出蓬勃生命力。 让车间与实验室同频共振 何谓"科技副总 ...

12月26日，由金融界主办的"启航·2025金融年会"在北京举行。本次年会以"新开局、新动能、新征程"为主题，来自政、商、学、研等领域的100多位嘉宾、 500余家金融机构和上市公司齐聚一堂，共赴这场思想盛宴。 责任编辑：钟离 田轩称，需要设计一些机制，把企业的创新者、高管保护起来，让他们专注长期的创新，不受短期资本的干扰。他提出五条建议，包括要有强有力的反收购 条例、不太高的股票流动性、要有长期的机构投资者、不太多的分析师追踪以及不太频繁的信息披露。 第三，完善健全的法治环境。从宏观角度讲，市场经济就是法治经济，我们要把企业家很好地保护起来，才能够让他们专注长期的创新。 第四，稳定的宏观政策导向。政策本身对于科技创新没有任何影响，不管这个国家的政策是偏激进还是偏保守一点。田轩称，"因为市场是非常有效率的， 企业家们非常聪明，企业家们可以根据国家的宏观政策去调整自己的投资决策，但最要命的是政策的不确定、不稳定。" 财经频道更多独家策划、专家专栏，免费查阅>> 第一，更加包容的创投市场。对于人，我们要鼓励支持科技创新。发展新质生产力，我们必须要对他们更多的包容，允许他们有我们常人很难容忍的各种各 样的缺点，从而 ...

Group 1 - China's innovation index has entered the global top ten for the first time, marking a significant milestone in the country's technological advancement [1][2] - The year 2025 is a critical point for China as it concludes the "14th Five-Year Plan" and sets new goals for rapid breakthroughs in key core technologies [20] - The integration of technological innovation and industrial innovation is deepening, enhancing the role of innovation in driving development [20] Group 2 - Major breakthroughs in space exploration have been achieved, including the successful test of the "Dream Boat" manned spacecraft and the operation of the Jiangmen Neutrino Experiment, which is the world's first large-scale neutrino facility [5][16] - The launch of new high-speed real-time oscilloscopes with bandwidth exceeding 90GHz signifies China's advancement in the global electronic communication industry [11] - The successful operation of the "Haiqin" deep-sea unmanned remote-controlled vehicle demonstrates China's capabilities in deep-sea research [18] Group 3 - The release of Harmony OS on computers represents a significant step for Huawei in the computer operating system market [22] - The development of AI technologies is showcased through various exhibitions, highlighting the growing presence of artificial intelligence in daily life and industry [28][10] - The successful birth of the first cloned yak in Tibet indicates advancements in biotechnology and animal breeding [20]

延安迎来"高铁速度"，时空折叠赋能振兴新局 中新网陕西延安12月26日电 (记者 张一辰 张远)当"龙凤呈祥"动车组以超过300公里的时速穿越黄土高原 的千沟万壑，这标志着这条承载着陕北革命老区期盼的钢铁动脉——西延高铁，于2025年12月26日正式 开通。这条全长299.8公里的钢铁动脉，不仅终结了陕北无高铁的历史，更以"时空折叠"的效应，为革 命老区发展带来机遇。 作为国家"八纵八横"高铁网包(银)海通道的关键一段，西延高铁与在建的西渝、延榆高铁衔接，在构成 纵贯陕甘川的南北大动脉的同时，也令关中地区密集的科研资源与陕北丰富的能源产业实现"无缝对 接"。 图为西延高铁首发列车。 梅镱泷 摄 西延高铁从西安出发，随后一路向北，最终抵达延安，该线路桥隧比高达91%，超九成路段为桥梁或隧 道。工程施工中先后攻克了湿陷性黄土地区施工、王家河特大桥高空作业等技术难关。如此攻坚克难、 倾力筑路，从来都不是无的放矢。事实上，修建西延高铁，既是补齐区域交通短板的现实所需，更是推 动革命老区振兴发展的战略之举。 彼时，"走得慢、行得难"是陕北沟壑里关于交通往来的集体记忆。 如今，西延高铁的开通，令"朝看长安之花，午观延安宝 ...

Group 1 - China's innovation index has entered the global top ten for the first time, showcasing rapid growth in technological innovation capabilities [1] - The year 2025 marks the conclusion of the "14th Five-Year Plan," with a focus on achieving breakthroughs in key core technologies and enhancing the integration of technological and industrial innovation [20] - Significant advancements in space exploration have been made, including successful tests of manned lunar exploration vehicles and the launch of major space science satellite missions [3][5][17] Group 2 - The 2025 World Internet Conference showcased advancements in robotics and artificial intelligence, indicating a strong presence of innovative technologies in various sectors [6][21] - The launch of a new generation of ultra-high-speed real-time oscilloscopes, achieving bandwidths exceeding 90GHz, highlights China's leadership in the global electronic communication industry [9] - The successful operation of the Jiangmen Neutrino Experiment, the world's first large-scale neutrino facility, represents a significant milestone in high-precision scientific research [14]

Core Insights - The A-share private placement market has shown significant profitability since 2025, with 52 private equity firms investing nearly 6 billion yuan and achieving a floating profit of over 2.7 billion yuan [1][3][9]. Group 1: Market Overview - In 2025, the A-share private placement market rebounded significantly, with 158 companies conducting private placements, raising over 850 billion yuan, a year-on-year increase of more than 400% [3]. - The majority of companies that conducted private placements this year have seen their stock prices rise post-listing, with over 40% of these companies experiencing price increases exceeding 50% [3]. Group 2: Private Equity Participation - A total of 52 private equity firms participated in private placements this year, with a total allocation amounting to 5.98 billion yuan, representing a 23.48% increase from the previous year [3][4]. - The electronic industry was the most favored sector, with private equity firms allocating 2.03 billion yuan across 10 electronic stocks, accounting for 33.98% of total allocations [4][5]. Group 3: Investment Strategies - Private equity firms have adopted diverse strategies, with smaller firms achieving over 100% floating profits through high-risk investments, while larger firms prefer stable allocations to ensure safety margins [1][9]. - The electronic sector benefits from ongoing domestic innovation and global competitiveness, with private placements primarily aimed at capacity expansion, technology research, and industry chain integration [5][12]. Group 4: Performance Metrics - As of December 23, 2025, the overall floating profit from private equity participation in private placements reached 2.72 billion yuan, with a floating profit ratio of 45.55% [6][10]. - Among the 58 stocks involved in private placements, 54 are currently in a floating profit state, with 9 stocks showing floating profit ratios exceeding 100% [6][10]. Group 5: Sector-Specific Insights - The electronic industry, along with power equipment and light manufacturing sectors, attracted significant private equity investments, each receiving around 670 million yuan [5][8]. - Notable individual placements included companies like Lexin Technology and TCL Technology, which attracted over 200 million yuan each from private equity firms [6].

Core Viewpoint - The A-share private placement market has shown significant profitability since 2025, with 52 private equity firms investing nearly 6 billion yuan and achieving a floating profit of over 2.7 billion yuan, driven by precise stock selection [3][7]. Group 1: Market Overview - In 2025, the A-share private placement market experienced a notable recovery, with 158 companies conducting private placements, raising over 850 billion yuan, a year-on-year increase of more than 400% [7]. - Over 40% of companies that conducted private placements saw their stock prices rise by more than 50% after the shares were listed [7]. - Private equity firms participated enthusiastically, with a total allocation of 5.98 billion yuan, a 23.48% increase from the previous year [7]. Group 2: Sector Preferences - The electronics sector emerged as the most favored by private equity firms, with 10 electronic companies attracting a total of 2.03 billion yuan, accounting for 33.98% of total allocations [7][8]. - Other sectors such as power equipment and light industry also received significant attention, with each attracting 670 million yuan [8]. Group 3: Investment Performance - As of December 23, 2025, private equity firms achieved a total floating profit of 2.72 billion yuan, with an overall floating profit ratio of 45.55% [9]. - Among the 58 stocks involved in private placements, 54 are currently in a floating profit state, with 9 stocks having a floating profit ratio exceeding 100% [9]. - Notably, Demingli's floating profit ratio reached 274.19%, contributing nearly 441 million yuan to private equity firms [9][10]. Group 4: Private Equity Firm Strategies - Large private equity firms adopted a more conservative investment style, while smaller firms favored growth strategies, achieving higher floating profits [12][13]. - Smaller private equity firms with assets under 5 billion yuan reported floating profit ratios exceeding 100%, while mid-sized firms also performed well, with some achieving floating profit ratios above 50% [13][14]. - The overall trend indicates that 50 out of 52 private equity firms involved in private placements reported floating profits, highlighting the effectiveness of their investment strategies [14].

Core Viewpoint - Shanghai has introduced measures to support the construction of the G60 Science and Technology Innovation Corridor, aiming to upgrade it to a "world-class" level and contribute to the establishment of an international science and technology innovation center in the Yangtze River Delta [1] Group 1: Policy Measures - The measures include 23 support policies focusing on building a technology innovation source, creating world-class industrial clusters, nurturing a first-class innovation ecosystem, and sharing technology innovation resources [1] - Key initiatives involve the development of the Shanghai Songjiang University Town Science and Technology Innovation Source, as well as the layout of the scientific instrument industry and 6G industry [1] Group 2: Songjiang University Town - The Songjiang University Town Science and Technology Innovation Source consists of an innovation core area and an industrial transformation area, featuring functions such as innovation research and development, technology transformation, industrial incubation, and production [2] - The area is home to 8 universities and 120,000 faculty and students, providing a dense resource of scientific and educational talent [2] - The comprehensive empowerment center in the university town is operational, promoting the transformation of scientific research achievements from universities and aligning them with key industries in the Songjiang District [2] Group 3: G60 Corridor Development - The G60 Science and Technology Innovation Corridor has progressed from the initial stage of platform construction and brand promotion to a deeper and more practical second stage [3] - The national "14th Five-Year Plan" emphasizes forward-looking layouts for future industries and breakthroughs in critical fields such as industrial mother machines and scientific instruments, which the measures align with [3]

Core Viewpoint - The report emphasizes the need for a capital market that supports technological innovation and the development of the real economy, focusing on two main aspects: a more inclusive venture capital market and a "less aggressive" secondary market [2][13]. Group 1: Inclusive Venture Capital Market - A more inclusive venture capital market is essential to support technological innovation, which is characterized by long cycles, high uncertainty, and high failure rates [4]. - The report highlights the importance of being tolerant towards entrepreneurs and venture capital funds, allowing for failures and encouraging early-stage investments [5]. - The comparison of venture capital fund durations between the U.S. (10-12 years) and China (5-7 years) indicates a need for longer investment horizons to support early-stage and high-risk projects [5]. Group 2: Less Aggressive Secondary Market - The secondary capital market is crucial, with approximately 600-700 million individuals involved, and the central government has emphasized its importance in recent policy discussions [6]. - A "less aggressive" secondary market is proposed to provide a quieter environment for high-growth and innovative companies, reducing short-term pressures from investors and analysts [6][7]. - Mechanisms such as strong anti-takeover provisions and controlled board member turnover are suggested to maintain stability and encourage long-term innovation [8]. - The report argues that excessive stock liquidity can attract short-term investors, which may negatively impact a company's innovation efforts [9]. - Long-term institutional investors are needed to better support innovative companies, as they can provide stability and oversight, especially during periods of failure [10]. - Reducing analyst pressure and the frequency of earnings disclosures can help alleviate short-term performance pressures on companies, allowing them to focus on long-term innovation [11][12]. Conclusion - A well-designed capital market that is both inclusive and less aggressive is essential for fostering an environment conducive to technological innovation and supporting the real economy [13].

Group 1 - The year 2025 marks the conclusion of the "14th Five-Year Plan," with China's innovation index entering the global top ten for the first time [2][4][6][8][10][12][15][19][21][24][26][29][31][33][36] Group 2 - Technological innovation is demonstrating vibrant progress, contributing to high-quality development [2][4][6][8][10][12][15][19][21][24][26][29][31][33][36]