未来产业是由前沿技术驱动，当前处于孕育萌发阶段或产业化初期的前瞻性新兴产业，具有显著战略 性、引领性、颠覆性和不确定性。中央企业加速布局未来产业，是贯彻落实党的二十届四中全会精神的 重要举措，更是"十五五"期间引领科技进步、推动产业升级、培育新质生产力、实现企业高质量发展的 战略选择，发展空间广阔，前景可期。 一、布局未来产业是中央企业必须肩负的历史使命 （一）布局未来产业是国家战略所需 当前百年未有之大变局加速演进，新一轮科技革命和产业变革的浪潮正以空前的广度和深度重塑国际竞 争规则。前瞻布局未来产业，是抢抓新一轮科技革命和产业变革机遇的战略选择。 纵观前几次工业革命，未来产业都是构建全球竞争新优势的关键。当前我国在一些关键领域，如高端芯 片、工业软件等，面临被"卡脖子"的风险。这不仅威胁到国家安全和科技自主可控，也影响了我国在全 球产业链中的地位和竞争力。 因此，党中央、国务院对前瞻布局未来产业发展高度重视。《中华人民共和国国民经济和社会发展第十 四个五年规划和2035年远景目标纲要》明确部署，"在类脑智能、量子信息、基因技术、未来网络、深 海空天开发、氢能与储能等前沿科技和产业变革领域，组织实施未来产业 ...

海水中的二氧化碳"变"为"绿色原料"是不是很神奇？其实，生物制造的神奇远不止于此。让微生物酵母拥有"种植能力"生产植物成分，用细菌 来合成"智能活体胶水"，替代传统"创口贴"，更神奇的是把海洋藻类改造成类似石油、煤炭一样的能源。这些听起来充满新奇感的场景，正是 我国科研人员正在努力实现的方向。 每一项技术的背后，都是实打实的高精尖科研，研发过程本身就困难重重。而更具挑战的是，要让这些实验室里的"样品"真正走进生活、成 为"产品"，难度更是呈几何级增长。 央视网消息：这个仪器是我国最新研发的"人工海洋碳循环系统"。它可以利用电催化技术，像磁铁一样把溶解在海水里的二氧化碳收集起来， 转化成一种微生物爱"吃"的"养料"。 这些微生物"吃饱"后，就能制造出日常生活中常见的，可用于制造吸管、饮料瓶等塑料制品的"绿色原料"——聚丁二酸丁二醇酯。目前，这套 系统已经在真实海水环境下稳定运行超500小时，二氧化碳捕集效率超70%。 生物制造实验室的"绿色魔法" 记者探访："一栋楼"里的创新密码 如今，国家正前瞻性布局未来产业，各地也在积极探索加速这一进程的路径，深圳给出的答案是"楼上创新、楼下创业"。这种模式究竟如何打 破壁 ...

Core Insights - The China-France Future Industry Cooperation Forum was held in Nanjing, focusing on innovation and collaboration in future industries [1] - Major French industrial companies, including Schneider Electric and Dassault Systèmes, participated, highlighting the importance of digital transformation and 3D virtual twin technology [1][2] - Nanjing aims to accelerate the development of future industries, with a projected 20% growth in future industry business revenue by 2025 [2] Group 1: Industry Collaboration - The forum emphasized the collaboration between local high-tech companies in Nanjing and leading French firms, showcasing the potential for partnerships in aerospace, green energy, and future energy sectors [2] - Nanjing Tianyi Aerospace Electronics Technology Co., a high-tech company focused on commercial satellite technology, is set to test its satellite communication services by the end of the year [3] - The forum resulted in a three-year agreement for continued China-France future industry cooperation in Nanjing, indicating a long-term commitment to collaboration [3] Group 2: Investment and Economic Impact - Nanjing has established a strong foundation for investment, with 114 approved French investment projects and actual foreign capital usage reaching $1.16 billion [3] - The presence of a French semiconductor company launching an 8-inch silicon carbide chip production line in China demonstrates the competitive edge of Chinese manufacturing in terms of cost and technology [3] - The forum highlighted the importance of building relationships and networks in the future industry landscape, with a focus on mutual benefits and shared growth [2]

Core Viewpoint - The "14th Five-Year Plan" period is crucial for solidifying the foundation of China's modernization and achieving high-quality economic development, emphasizing the importance of the real economy and optimizing traditional industries [1][2]. Group 1: Economic Development Focus - The focus during the "14th Five-Year Plan" should be on the real economy, prioritizing the optimization and enhancement of traditional industries while fostering new productive forces and supporting emerging industries as future growth points [1][2]. - The plan categorizes industries into traditional, emerging, and future sectors, each requiring different approaches to develop new productive forces [2][3]. Group 2: Traditional Industries - Traditional industries still hold significant growth potential, accounting for 80% of China's manufacturing sector, and are essential for the foundation of the real economy [2][3]. - There is a need to address issues related to urbanization, rural migration, and high-quality development in real estate to unlock the potential of traditional industries [3]. Group 3: Financial Reforms - The proposal includes deepening zero-based budgeting reforms to optimize fiscal expenditure and enhance budget performance management, which is crucial for effective governance [4][5]. - Zero-based budgeting requires every expenditure to be justified anew, potentially leading to significant impacts on budget management if implemented effectively [5]. Group 4: Financial Support for Innovation - The plan emphasizes the development of various financial sectors, particularly technology finance, which is deemed strategically important for supporting innovation and the cultivation of new productive forces [6][7]. - There is a need for a shift towards direct financing to better match the risk characteristics of technological innovation, with capital market reforms facilitating this transition [6]. Group 5: Wealth Management - The growing middle-income group in China, exceeding 400 million people, necessitates professional wealth management to enhance asset value, highlighting the increasing importance of wealth management in the financial sector [7]. - Wealth management should be a key focus area in finance, promoting the conversion of savings into investments, benefiting both residents and the capital market [7].

Core Viewpoint - The Tianjin Municipal Committee emphasizes the development of advanced manufacturing, focusing on high-end, intelligent, and green directions, while promoting new industrialization and upgrading traditional industries [1] Group 1: Advanced Manufacturing Development - The plan aims to enhance competitiveness in industries such as petrochemicals, automotive, equipment manufacturing, and metallurgy through intelligent and green manufacturing [1] - There is a strong push for the large-scale application of new technologies, products, and scenarios, particularly in emerging industries like biomedicine, new energy, and aerospace [1] Group 2: Future Industry Layout - The strategy includes exploring viable business models, market regulation rules, and risk-sharing mechanisms to promote sectors like biomanufacturing, low-dimensional materials, and hydrogen energy [1] - The initiative aims to establish new economic growth points through innovations in brain-machine interfaces, embodied intelligence, and advanced computing [1] Group 3: Consumer Goods Manufacturing - The plan also focuses on actively developing the terminal consumer goods manufacturing sector and cultivating advanced manufacturing brands [1] - There is an emphasis on improving quality infrastructure and standard systems, alongside strengthening environmental and safety regulations [1]

为全面贯彻落实中央金融工作会议和《国务院关于加强监管防范风险推动资本市场高质量发展的若干意 见》精神，按照陕西省委金融工作会议和陕西省委金融委员会会议部署要求，深化多层次资本市场改 革，更好赋能陕西省科技成果转化"三项改革"，促进科技创新和产业创新深度融合，为陕西高质量发展 提供强有力的资本市场支撑，陕西省委金融办会同陕西证监局、陕西省科技厅、陕西省工业和信息化 厅、陕西省国资委联合制定了《关于深化资本市场改革助力陕西高质量发展的若干措施》（下称《措 施》），共6方面16条措施。 《措施》提出，要构建"三项改革"赋能上市培育机制，促进科技—产业—金融良性循环；要完善创新资 本的形成机制，加速培育新质生产力；要提高上市公司质量，推动上市公司做大做强做优；要发挥枢纽 功能，推动债券和期货市场高质量发展；要加强监管协同联动，规范市场秩序；要强化风险防控处置， 压实各方责任。 针对上市公司做大做强做优，《措施》提出，要强化国有控股上市公司改革引领作用。推动国有控股上 市公司充分发挥平台作用，围绕主业开展资源整合，完善上下游产业链，解决同业竞争，减少关联交 易，实现整体上市。 此外，支持国有控股上市公司积极探索战略性新 ...

Core Viewpoint - The stock price of Anhui Yishitong Material Technology Co., Ltd. has surged, closing at 33.18 yuan per share, attributed to share buyback plans and advancements in solid oxide battery (SOC) projects [1][2] Group 1: Stock Performance and Buyback Plans - The company experienced a "20CM" limit-up in stock price on November 27, 2023, due to market confidence bolstered by share buyback announcements and SOC project developments [1] - Yishitong announced a second share buyback plan with a budget of 20 million to 45 million yuan, aimed at employee stock ownership plans or equity incentives, enhancing team cohesion and long-term competitiveness [1] - Cumulatively, the company plans to spend between 75 million to 100 million yuan on share buybacks, following a previous plan that had a budget of 30 million to 55 million yuan [1] Group 2: SOC Project Developments - The first 8kW solid oxide battery (SOC) system of the company has been installed and is currently in the debugging and optimization phase, expected to gradually commence operation in the first quarter of 2026 [2] - There is a growing demand for downstream applications, which is anticipated to accelerate the industrialization process of SOC technology [2] - The company is engaging with potential domestic and international clients, targeting markets such as combined heat and power systems for households and small industries in Europe, and focusing on thermal power plants and chemical plants in the domestic market [2]

另一方面，截至11月25日，广东省2025年新增上市公司共18家。其中，电子、计算机、电力、机械设备制造也是新增上市公司最为集中的领 域，数量达11家。 广东：金融与科技双向奔赴 驱动企业创新成长 改革开放以来，广东始终站在创新创业的潮头。如今，这里已孕育出28家A股千亿市值企业。它们既是中国制造业的中坚力量，也是观察广东 创新生态的窗口。 这里是企业位于深圳前海的总部大楼。远处是已经通车的深中通道，从总部出发开车约30分钟就能到达他们中山的产业园。这个通道的贯通， 让深圳前海的研发总部与珠江西岸的制造基地实现了"一小时级"的深度联动。研发迭代更快、物料流转更顺、产线验证更及时，一个覆盖整个 大湾区的高效供应链网络正在形成。 央视网消息：最新统计数据显示，2025年前三季度，广东省GDP达10万5176.98亿元，同比增长4.1%，经济总量居全国首位。其中，制造业 向"新"攀高，先进制造业、高技术制造业增加值分别增长5.4%、6.4%。上市公司作为企业的"排头兵"，是现代化产业体系的先进代表，它们的 发展壮大从一个侧面体现了区域的发展理念和价值。 截至11月25日，广东在A股的上市公司共有887家，稳居全国第 ...

Core Insights - The concept of "future industries" has become more tangible over the past two years, with the government emphasizing the importance of strategic emerging industries and future industries as core development directions [6][8] - The Ministry of Industry and Information Technology has outlined six main directions for future industries: future manufacturing, future energy, future materials, future information, future health, and future space [6][8] - Investment opportunities in future industries are expected to emerge earlier in the stock market, driven by a shift from traditional construction-based capital formation to technology-driven innovation [5][8] Government Policy and Strategic Direction - The government has highlighted the need to strengthen strategic emerging industries and has made future industries a key focus in the 2024 and 2025 work reports [6][8] - The "14th Five-Year Plan" emphasizes advanced technologies such as quantum technology, biomanufacturing, hydrogen energy, nuclear fusion, brain-computer interfaces, embodied intelligence, and sixth-generation mobile communications [6][8] Market Trends and Investment Opportunities - The stock market has already begun to reflect trends in future industries, with significant movements in sectors like robotics, innovative pharmaceuticals, AI computing power, and storage [7][8] - Future industries are seen as a potential source of excess returns for investors, with the development of these industries expected to create a virtuous cycle with the stock market [5][8] Investment Strategies - Three key investment approaches are suggested: focusing on companies with strong technological barriers, identifying ecosystem leaders in new business models, and seeking out "super products" that align with emerging trends [10][11][12] - The emphasis is on identifying sectors that will benefit from policy support and accelerated market adoption, such as quantum technology and AI applications [12][13] Future Outlook - The investment landscape for future industries is entering a phase of increasing prosperity, with expectations of higher returns from early-stage investments compared to traditional sectors [13] - The integration of strategic emerging industries and future industries is viewed as a synergistic relationship that can drive innovation and growth [9][12]

Core Insights - The overall mechanical equipment index outperformed the market in 2025, with significant gains in humanoid robots, AI PCB equipment, and lithium battery equipment, particularly in solid-state battery technology [1][2] - The fundamentals of the mechanical equipment sector are showing steady growth, with a recovery in the lithium battery equipment and machine tool segments [1][2] Investment Opportunities for 2026 - Investment opportunities in the mechanical equipment sector for 2026 can be categorized into three main areas: 1. Focus on AI-related technology growth, including AI PCB equipment, gas turbines, and liquid cooling systems [2] 2. Emphasis on future and emerging industries as highlighted in the 14th Five-Year Plan, which includes humanoid robots, controllable nuclear fusion, low-altitude economy, deep-sea economy, and commercial aerospace [2] 3. Selection of high-quality stocks in cyclical industries with upward beta characteristics, such as engineering machinery, wind power equipment, and lithium battery equipment [2] AI Infrastructure and Equipment Demand - The demand for computing power is surging, with a focus on AI PCB equipment, AIDC equipment, and liquid cooling systems: 1. AI PCB equipment is expected to benefit from the AI computing revolution, leading to increased demand and higher value per unit [3] 2. AIDC equipment will see growth driven by the construction of AI data centers, with diverse power supply needs being met by gas turbines and nuclear power [3] 3. Liquid cooling systems are anticipated to become mainstream due to the limitations of traditional air cooling under high power demands, leading to explosive market growth [3] Future and Emerging Industries - Key areas of focus in future and emerging industries include: 1. Humanoid robots, with attention on Tesla's Gen3 release and domestic production ramp-up [4] 2. Controllable nuclear fusion, with significant projects entering critical construction phases [4] 3. Low-altitude economy, which is moving towards commercialization, necessitating investment in low-altitude infrastructure [4] 4. Deep-sea technology, with substantial potential for domestic substitution in equipment and key components [4] 5. Commercial aerospace, which is expected to drive demand for related equipment due to favorable policy directions [4] Industry Performance Expectations - The mechanical equipment sector is expected to perform well, with: 1. Engineering machinery benefiting from stable domestic demand and potential for increased market share for domestic brands [4] 2. Wind power equipment experiencing high growth due to clear domestic targets and accelerated international expansion [4] 3. Lithium battery equipment poised for a new round of expansion, with solid-state battery industrialization trends accelerating [4]