（记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：请问公司在重庆有相关业务布局吗？ 美锦能源（000723.SZ）1月9日在投资者互动平台表示，公司持续关注全国氢能产业发展及各地政策导 向。在重庆地区，公司通过旗下的小柿子车辆智运平台开展氢燃料电池车辆的投放与运营，服务相关应 用场景的实际需求。氢能作为十五五规划明确的未来产业，公司将依托既有资源基础和产业协同优势， 结合不同区域的应用场景，有序推进制氢、储运、加注及终端应用等环节的发展，在符合区域条件和应 用场景的前提下，持续探索氢能在交通、工业及综合能源领域的示范应用。 ...

山东东岳未来氢能材料股份有限公司（下称"未来材料"）的科创板IPO申请，正在进入监管层对治理结构、财务质量、关联依赖和技术自 立的实质审视阶段。 2025年6月，未来材料拟募资24.46亿元的IPO计划申报获上交所受理，并于10月披露首轮问询回复。随着问询推进，这些问题并不只关系 到IPO进程的推进节奏，也将被带入后续持续信息披露与市场检验之中。 在"硬科技"与氢能概念并行的背景下，公司一方面具备全氟质子交换膜等核心材料的技术积累，在多项内部及客户验证中对标国际主流厂 商技术指标，招股材料中亦将戈尔等国际企业作为对标对象，技术水平国内领先；另一方面，其业绩波动、关联依存与扩产节奏，也逐步 成为审核关注的集中落点。 这种"未来材料有实控人，东岳集团无实控人"的认定，实质上构建了一道防火墙。如果承认张建宏同时控制东岳集团，那么未来材料与东 岳集团旗下众多氟化工子公司的同业竞争问题将变得无法回避，且关联交易的公允性将受到更严格的穿透式监管。如果二者不存在法律上 的控制链条，发行人就可以在享受东岳集团产业链红利的同时，不受上市审核中关于独立性的硬性门槛约束。 有分析师指出，这种架构使得未来材料在名义上独立，但实际上极 ...

Group 1 - Nvidia requires overseas customers to pay full prepayment for its H200 AI chips, with orders exceeding 2 million units, and TSMC has been asked to increase production [2] - Sinopec and China National Aviation Fuel are undergoing a restructuring approved by the State Council, aiming to reduce aviation fuel supply costs and enhance industry competitiveness [2] - Alibaba's Taobao Flash Sale has made significant progress, targeting to achieve absolute market share leadership by 2026, reflecting an upgrade in the company's competitive strategy in the e-commerce sector [2] - Nestlé has expanded its global recall of infant formula to at least 50 countries, including China, with regulatory bodies urging the company to manage the recall effectively [2] - TSMC maintains high capacity utilization for advanced processes, with continued demand for 3nm processes, and has paused new project initiations while encouraging clients to evaluate the adoption of 2nm processes [2] Group 2 - Zhongwei Company’s major shareholder plans to reduce its stake by up to 2%, which may exert short-term pressure on the company's stock price [4] - Huaxia Happiness is expected to report a loss in 2025, facing dual pressures from operational losses and arbitration involving its controlling shareholder [4] - Jiechuang Intelligent plans to procure IT equipment and components worth up to 4 billion yuan to enhance its cloud computing infrastructure [4] - Pritchard anticipates no large-scale orders for LCP film products in the brain-computer interface sector in the short term, advising the market to view the concept rationally [4] - Unisoc has initiated IPO counseling, benefiting from the AI-driven demand growth in storage chips, contributing to a wave of IPOs in the industry [4] Group 3 - Changxin Technology's application for an IPO on the Sci-Tech Innovation Board has been officially accepted, marking a significant step in its listing process [5] - Geely Automobile has obtained an L3-level autonomous driving road test license for its Zeekr 9X model, covering an area of 9,224 square kilometers [5] - HSBC's proposal to privatize Hang Seng Bank has been approved by the bank's court meeting and shareholder meeting, with the delisting expected on January 27, 2026 [5] - JD.com has established a "Chameleon Business Department" to oversee the development and commercialization of core AI products [5] - Anta Sports has made a takeover offer to acquire 29% of Puma from the Pinault family, although negotiations are reportedly stalled [5] Group 4 - Apple’s market value has dropped to third globally, with its annual shareholder meeting scheduled for February 24, and CEO Cook's total compensation for 2025 set at $74.3 million [6] - Alphabet has risen to second globally, driven by its AI business, and is enhancing collaboration with Siemens on industrial AI operating systems [6] - Meta Platforms is under scrutiny by China's Ministry of Commerce regarding its acquisition of the AI platform Manus, with delays in the release of AI smart glasses [6] - Microsoft has partnered with Shopify, PayPal, and Stripe to launch a retail AI Copilot Checkout feature, while restructuring its GitHub team to strengthen AI development [6] - Amazon has adjusted its target price and is requiring employees to provide proof of work efficiency, indicating potential personnel optimization [6] Group 5 - Samsung Electronics has regained the top share in the global DRAM market and is in talks with Qualcomm for 2nm chip foundry collaboration [9] - Toyota has announced the independence of Gazoo Racing as a high-performance sub-brand and launched new models in the European market [9] - LG Electronics' CEO presented a profit-oriented growth strategy at CES 2026, focusing on sustainable development [9] - Mitsubishi UFJ Financial Group plans to establish a full-service bank in the EU to expand overseas financing profits [9] - SK Hynix has lost its position as the global leader in the DRAM market and is focusing on domestic energy storage orders [9]

Group 1 - The company, Zhongmi Holdings, stated that its products, including dry gas seals, mechanical seals, and sealing rings, can replace imports in the hydrogen energy preparation, storage, transportation, and application sectors [2]

Core Viewpoint - The Hefei Municipal Committee emphasizes the development of future industries with a focus on "quantum intelligence" and aims to drive innovation in sectors with technological advantages and development foundations [1] Group 1: Quantum Technology Industry - The plan includes promoting breakthroughs and applications in quantum communication, quantum computing, and quantum precision measurement [1] - There is a focus on accelerating the research and industrialization of key materials, devices, and equipment [1] - The initiative aims to expand "quantum+" demonstration projects in government, finance, energy, and meteorology sectors [1] Group 2: Nuclear Fusion and Hydrogen Energy Industry - The development of compact fusion energy experimental devices is highlighted as a key infrastructure project [1] - The plan aims to accelerate the development of superconducting materials, equipment, and smart sensors [1] - There is an emphasis on advancing the application of hydrogen and ammonia energy technologies and laying out advanced nuclear energy technologies like small reactors [1] Group 3: Biomanufacturing Industry - The focus is on biobased chemicals and materials, new food products, bio-agriculture, and non-food biomass raw materials [1] - The initiative aims to expand large-scale applications in these areas [1] Group 4: Embodied Intelligence Industry - The plan promotes the integrated development of intelligent decision-making systems, high-precision control systems, and innovative structural design [1] - It aims to construct a full-chain innovation ecosystem encompassing precision processing, data training, evaluation, and competitive testing [1] Group 5: Emerging Technologies - The strategy includes tracking and laying out plans in niche areas such as brain-computer interfaces, sixth-generation mobile communication, and deep space and deep sea exploration [1] - The goal is to promote more technological research and industrialization to achieve "parallel running" and "leading" positions in these fields [1]

Investment Rating - The report provides a "Buy" rating for several key stocks in the financial and manufacturing sectors, including China Resources Land and Nanjing Bank, among others [12][19][53]. Core Insights - The report highlights the financial and manufacturing industries' investment outlook for January 2026, emphasizing the need to focus on companies with strong fundamentals and growth potential amid economic pressures [6][8][10]. - It identifies specific sectors such as real estate, non-bank financials, banking, new energy, machinery, military industry, light industry, and environmental protection as areas of interest for investment [8][10][21][32][36][43]. Summary by Sector Real Estate - The real estate sector faces increasing downward pressure, necessitating policy easing. Key companies like China Resources Land are highlighted for their strong operational capabilities and cash flow stability [11][12][53]. Non-Bank Financials - The non-bank financial sector is expected to benefit from policy support and high market trading volumes, with companies like New China Life Insurance showing strong growth potential [16][17][53]. Banking - The banking sector is viewed positively, with a focus on large banks and city commercial banks, particularly Jiangsu Bank, which is noted for its attractive valuation and growth prospects [18][19][53]. New Energy - The new energy sector is at a turning point, with companies like Sungrow Power Supply and Slin Smart Drive recommended for their growth potential in solar and energy storage technologies [21][23][53]. Machinery - The machinery sector is encouraged to focus on AI and robotics, with companies like Hengli Hydraulic and Ding Tai High-Tech identified for their growth opportunities in traditional and emerging markets [25][30][31][53]. Military Industry - The military sector is expected to see growth from military-to-civilian transitions and military trade, with AVIC Xi'an Aircraft Industry Company highlighted for its potential in the domestic and international markets [32][34][53]. Light Industry - The light industry is advised to focus on overseas manufacturing and new consumer opportunities, with companies like Yingke Medical and Meiyin Sen noted for their growth in international markets [36][40][53]. Environmental Protection - The environmental sector is poised for growth through overseas expansion and rising metal prices, with companies like Weiming Environmental and Ice Wheel Environment recommended for their strong market positions [43][48][51][53].

四川鲁丽绿色数智家居产业园的生产线。高志农 摄 ●力争"十五五"末全市经济总量迈上2000亿元台阶 ●以建设"中国绿色铝都"为引领，继续做大做强"1+3+3"工业优势主导产业 ●基本建成全国绿色铝材加工基地、川陕甘渝原铝交易集散基地和川渝地区铝产业创新基地 ●实施原铝规模提能、产业链条提级、绿色创新提速等"五大工程" ●促进创新链、产业链、资金链、人才链"四链融合" 2025年12月，铝基新材料计量检定广元市重点实验室获批设立，标志着广元在强化铝基新材料首位产 业计量技术支撑方面迈出关键一步。 自2018年中孚、林丰等龙头企业相继落户，广元铝基新材料产业实现从无到有、从小到大的跃 升。"我们已发展出'绿色水电铝—铝精深加工—铝资源综合利用'全产业链闭环。"广元经开区相关负责人 介绍，"广元造"铝产品已覆盖汽摩零部件、铝板带箔等30余种终端品类。 数据显示，截至2025年底，广元已集聚相关企业超百家，预计2025年铝基新材料产业产值突破500亿 元，"首位产业"名副其实。 首位产业强势跃升，离不开项目招引的"广元速度"和"广元温度"。 "从签约到开工，仅用36天。"四川鲁丽木业有限公司总经理杨刚亲历的"广元速度 ...

2026 年 01 月 07 日 联美控股(600167.SH) 供热主业稳定，氢能布局未来 清洁供热+高铁传媒双轮驱动，业绩稳健，连续多年高比例分红。 公司前身为沈阳新开，2008 年更名为联美控股，2016 年完成资产并 购重组，并入沈阳新北热电、国惠环保，增加了发电蒸汽供应业务， 进一步扩大了公司业务规模。2018 年收购高铁媒体数字运营商兆讯 传媒 100%股权，2022 年兆讯传媒成功分拆上市。截至目前，公司形 成"清洁供热+高铁数字媒体"双主业格局。2018-2020 年，公司营收实 现稳定增长，从 30.37 亿元增长至 35.98 亿元，复合增长率为 8.8%， 归母净利润从 13.17 亿元增加至 16.85 亿元，CAGR 为 13.14%。2020- 2024 年，受到地产周期影响，公司新增供热面积增长趋缓，营收维持 在 35 亿元左右，2024 年公司实现净利润 6.59 亿元，同比下滑 23.29%， 主要系计提子公司福林热力减值损失影响。公司多年来维持较高分红 比例，2022-2024 年分红金额分别为 4.75/4.47/7.11 亿元，分红比 例达 50.26%、52.02%、 ...

作为制造业重镇与全球大港，宁波正将金融"活水"精准引向科技创新与产业升级，在国家多项金融改革 试点的赋能下，构建起服务新质生产力发展的现代金融生态。日前，宁波市委金融办相关负责人在接受 中国证券报记者专访时表示，宁波金融系统正着力推动金融资源与实体经济特别是先进制造业、未来产 业高效融合，通过深化改革与创新服务，强化"耐心资本"供给，为区域经济高质量发展构筑坚实的资本 支撑。 ● 本报记者杨梓岩 畅通血脉：融资攻坚与直融扩围 服务实体经济，是宁波金融改革的出发点和落脚点。宁波市委金融办相关负责人指出，过去几年，宁波 金融系统着力构建"大金融"生态，核心目标就是破解融资难题，推动社会融资规模实现量质双升。 他介绍，针对重大项目融资的堵点，宁波借助"甬金通"等数字化平台开展"投融攻坚"，2025年上半年即 支持重大项目融资1460亿元，并靠前参与政策性金融工具申报。强有力的金融支持，使得制造业贷款增 量稳居浙江省首位，稳固了实体经济的根基。 在间接融资持续发力的同时，宁波大力拓展直接融资渠道，改变过度依赖银行的传统格局。"我们支持 优质企业通过上市、发债、并购重组等多元工具融资发展。"宁波市委金融办相关负责人表示 ...

海上风电景气反转，氢能技术行业领先 华电科工(601226) | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 韩其成(分析师) | 021-38676162 | hanqicheng@gtht.com | S0880516030004 | | 郭浩然(分析师) | 010-83939793 | guohaoran@gtht.com | S0880524020002 | | 曹有成(分析师) | 021-23185701 | caoyoucheng@gtht.com | S0880525040079 | 本报告导读： 我们认为华电科工海上风电业务受益需求景气度提升，新签订单及业绩释放有望加 速，氢能业务打造"风光-制氢-绿氨醇"全产业链一体化模式，将受益政策持续催化。 投资要点： [维持增持。 Table_Summary] 维持预测 2025-2027 年 EPS0.16/0.19/0.20 元增 66%/13%/10%， 采用 PE、PS、PB 估值法，给予目标价 10.50 元，对应 2025 年 66 倍 PE。 海上风 ...