"看！五亭桥'飞'起来了！"近日的扬州明月湖畔的夜空中，两千架无人机如星辰般缓缓升起——瘦西湖 五亭桥、白塔的倩影在夜色中舒展。紧接着，一场纯冷光构成的"烟花"瀑布倾泻而下，流光溢彩却不留 半分灰烬。市民们纷纷举着手机拍摄，惊叹声此起彼伏。这并非魔法，而是扬州广陵区一家民营企业用 无人机的科技之光替代传统烟花，为城市夜空献上的一场安全环保又震撼人心的视觉盛宴。 "当初选择广陵，正是看中了这里发展低空经济的诚意与潜力。"扬州东寰无人机科技有限公司总经理高 荣仍清晰记得去年4月的那个下午，广陵新城服务专班带着李宁体育园的场地规划图主动登门时的情 景。彼时，这家在成都、长沙积淀多年的企业正谋划拓展长三角市场，而广陵区发展低空经济的决心和 推出的"管家式"服务，让他们毅然决定扎根这里。 从签约到运营仅用60天，广陵新城不仅在短时间内迅速帮忙解决了企业展厅与办公空间问题，还协调了 6个足球场大小的空旷场地作为飞行训练基地——这对于需要大量试飞空间的无人机企业来说，无疑是 最宝贵的支持。更让高荣感动的是，得知企业需要拓展市场，广陵新城会同有关部门主动组织40多家行 业伙伴现场观摩，一场展演便促成400多万元订单，让东寰在 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688195 证券简称：腾景科技 公告编号：2026-002 腾景科技股份有限公司 关于签订日常经营重要订单的自愿性披露公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要提示： ●订单类型：销售订单 ●订单总金额：1280万美元（约8915万元人民币） ●订单生效条件：收到客户采购订单并确认生效 ●订单履行期限：自订单生效之日起至订单双方责任和义务履行完毕之日止 ●对上市公司当期业绩的影响： 本次订单供货产品二维准直器阵列为腾景科技股份有限公司（以下简称"公司"）在光通信领域高端光器 件的重点产品之一，依托公司深厚的精密模压与精密组装工艺积累与突破，产品具备高精度耦合、高端 口密度、高通道一致性、低插损及高可靠性等优异特性，可满足下游OCS光交换机厂商对于不同端口数 量规格的准直器阵列产品的定制化需求，为AI算力中心及超大规模光互联网络建设提供关键元器件支 持，体现了客户对公司在高端无源光器件领域技术能力的认可，有助于巩固和提升公司在光通信产业链 关键环节 ...

铜产业链周度报告 国泰君安期货研究所·季先飞·首席分析师/有色及贵金属 组联席行政负责人 投资咨询从业资格号：Z0012691 日期：2026年01月18日 Special report on Guotai Junan Futures 1 Guotai Junan Futures all rights reserved, please do not reprint 铜：美联储降息预期减弱和库存增加施压价格，但长期基本面良好 强弱分析：中性，价格区间：96000-110000元/吨 Special report on Guotai Junan Futures 2 COMEX和LME价差稍有回升至90美元/吨左右 2 全球主要地区铜库存增加 资料来源 SMM ，iFinD同花顺 国泰君安期货研究 ： 0 10 20 30 40 50 60 2022-01 2022-03 2022-05 2022-07 2022-09 2022-11 2023-01 2023-03 2023-05 2023-07 2023-09 2023-11 2024-01 2024-03 2024-05 2024-07 2024-09 202 ...

证券日报网讯1月16日，科林电气（603050）在互动平台回答投资者提问时表示，公司积极融入海信集 团营销、供应链等体系，提高精益管理水平，推进采购、物流、运费等持续降本增效。在海信集团海外 资源和经验的赋能下，加快开拓海外市场。公司正重点发展AI算力中心相关业务。 ...

证券日报网讯 1月16日，科林电气在互动平台回答投资者提问时表示，科林电气致力于成为科技领先、 品质保证、经济高效、体验最优的世界一流新型智慧能源科技企业。未来，公司将从传统的电气设备硬 件制造企业逐步向新型智慧能源科技企业转型，夯实基础，重点发展AI算力中心、新能源市场、海外 市场等，实现行业地位跃升。 （文章来源：证券日报） ...

2026年1月16日早盘，特高压、电工电网板块拉升，截至11:07，中证国新央企现代能源指数上涨 0.70%，成分股中国电建上涨8.96%，中国能建上涨5.46%，平高电气上涨4.83%，国电南瑞上涨3.82%， 东方电气上涨3.80%。 数据显示，截至2025年12月31日，中证国新央企现代能源指数前十大权重股分别为长江电力、中国铝 业、国电南瑞、中国核电、云铝股份、三峡能源、中国海油、中国石油、国电电力、中国电建，前十大 权重股合计占比48.98%。 央企能源ETF(562850)紧密跟踪中证国新央企现代能源指数，涉及绿色能源、化石能源、能源输配等现 代能源产业的50只上市公司证券作为指数样本，以反映央企现代能源主题上市公司证券的整体表现。 没有股票账户的投资者可以通过央企能源ETF联接(019593)一键布局高质量能源央企。 消息方面，1月15日中午，国家电网公司发布消息称，"十五五"期间，公司固定资产投资预计将达到4万 亿元，较"十四五"增长40%，以扩大有效投资带动新型电力系统产业链供应链高质量发展。能源行业专 家、电力设备及新能源行业研究人士分析认为，国网公司投资4万亿元，再加上南方电网公司投资规 ...

Core Viewpoint - The company will continue to focus on a dual-driven strategy of "data center + new energy" to capitalize on growth opportunities in both sectors [2] Data Center Sector - The company aims to leverage the accelerating global infrastructure for computing power by upgrading UPS products towards medium and large power, as well as liquid cooling technologies [2] - New product developments will include HVDC, integrated power modules, and SST to meet the high reliability and efficiency demands of AI computing centers [2] - The company plans to deepen collaboration with leading domestic internet companies and clients in finance and telecommunications, while using its Vietnam factory as a core node to expand ODM orders in rapidly growing regions like North America and Southeast Asia [2] New Energy Sector - The core growth engine will be energy storage, focusing on comprehensive energy storage solutions to strengthen its position in mature European markets and accelerate penetration into emerging markets [2] - The company will promote the integration of solar energy storage and charging solutions, enhancing supply chain resilience through partnerships with leading battery cell manufacturers [2] - The synergy between the data center and new energy businesses is expected to broaden the company's growth opportunities [2]

Core Viewpoint - The company will continue to focus on a dual-driven strategy of "data center + new energy" to capitalize on growth opportunities in both sectors [1] Data Center Sector - The company aims to leverage the accelerating global infrastructure for computing power by upgrading UPS products towards medium and large power, as well as liquid cooling technologies [1] - New product developments will include HVDC, integrated power modules, and SST to meet the high reliability and efficiency demands of AI computing centers [1] - The company plans to deepen collaboration with leading domestic internet companies and clients in finance and telecommunications, while using its Vietnam factory as a core overseas node to expand ODM orders in rapidly growing regions like North America and Southeast Asia [1] New Energy Sector - The core growth engine will be energy storage, focusing on comprehensive energy storage solutions to strengthen its position in mature European markets and accelerate penetration into emerging markets [1] - The company will promote the integration of solar energy storage and charging solutions, enhancing supply chain resilience through partnerships with leading battery cell manufacturers [1] - The synergy between the data center and new energy businesses is expected to broaden the company's growth space [1]

Core Viewpoint - The concept of "space photovoltaic" has gained renewed attention due to Elon Musk's ambitious plans for deploying solar energy satellites in space, aiming for significant advancements in solar energy capture and utilization [1][3][4] Industry Overview - Space photovoltaic technology has two levels: narrowly, it refers to solar components on spacecraft for self-powering; broadly, it involves deploying large solar arrays in space to transmit energy back to Earth [4][5] - The technology has historical applications dating back to the 1950s, with significant advancements in satellite energy supply [5][6] - Current market enthusiasm for space photovoltaic technology has shifted from traditional applications to a full-chain energy solution involving space power generation, wireless transmission, and ground reception [6][8] Market Dynamics - The surge in interest is driven by two main factors: the explosive growth of commercial space and the energy demands of AI computing centers [7][8] - The deployment of low Earth orbit satellites is creating a rigid energy demand, with projections indicating a market space of nearly 200 billion for solar wings if 10,000 satellites are launched annually [7] - The AI computing sector's energy needs are pushing infrastructure towards space, with potential market sizes reaching $500 billion if space data centers are deployed at scale [8][9] Competitive Landscape - The space photovoltaic sector is characterized by a competitive landscape where state-owned enterprises lead core space missions while private companies target commercial applications [9][10] - Major players in the domestic market include state-owned enterprises like the China Aerospace Science and Technology Corporation, which focus on high-end space equipment energy supply [9][10] - Private solar companies are entering the space photovoltaic market, aiming to capitalize on commercial space and AI energy needs [10][11] Technological Competition - The competition in space photovoltaic technology revolves around three main routes: gallium arsenide, crystalline silicon, and perovskite, each with its advantages and challenges [13][14] - Gallium arsenide is currently the dominant technology with high efficiency but faces cost challenges; crystalline silicon is cost-effective but has performance limitations in space; perovskite is seen as a potential long-term solution but requires stability improvements [13][14] Investment Sentiment - The capital market's enthusiasm for space photovoltaic technology is driven by narratives of vast market potential, with projections suggesting a market size of 295 billion by 2030 for low Earth orbit satellites [15][19] - The stock prices of companies involved in space photovoltaic have surged, reflecting speculative interest rather than fundamental performance [15][19] - The current market dynamics exhibit signs of a bubble, with stock price increases not aligned with actual revenue from space photovoltaic projects [19]

1. Report Industry Investment Rating No information provided in the report about the industry investment rating. 2. Core Viewpoints of the Report - Microscopically, there is a long - term bullish view on copper, with a strong price trend. However, increased macro - level disturbance factors lead to greater price fluctuations. The macro situation includes the US December non - farm payrolls falling short of expectations, the unemployment rate increase hitting a new low since 2020, and the market expecting the Fed to cut interest rates by about 50 basis points in 2026, with the probability of a January rate cut at zero and the first cut expected in June. The US Supreme Court has not announced a verdict on Trump's tariffs, and the next ruling will be on January 14. China's December CPI year - on - year increase reached a 34 - month high, and PPI increased month - on - month for three consecutive months [7]. - Fundamentally, the short - term domestic spot driving logic has temporarily weakened, while the overseas spot logic remains strong. The global copper inventory increased this week, with a significant increase in social inventory. As of January 8, 2026, the global total inventory was 950,300 tons, an increase of 44,900 tons from January 1. The domestic social inventory increased by 39,400 tons, and the COMEX inventory increased by 15,300 tons. The domestic spot discount has narrowed to 45 yuan/ton, indicating that the decline in price has led to a rebound in downstream demand. The LME 0 - 3 premium has expanded from $38.60/ton on January 2 to $41.94/ton on January 9 [7]. - In the long term, the fundamentals still support the copper price. The port inventory of copper concentrates has continued to decline, dropping rapidly from 680,000 tons on December 26 to 428,000 tons on January 9. The long - term TC for imported copper concentrates in China in 2026 is $0/ton, significantly lower than the 2025 level, which indicates a tight supply of copper concentrates. China is preventing blind investment and disorderly construction in smelters and encouraging large backbone enterprises to implement mergers and reorganizations to improve industrial competitiveness, which may also lead to structural changes in the smelting industry. From the consumption side, the long - term consumption recovery expectation remains strong, and the consumption logic of emerging industries such as AI computing centers is constantly strengthening. Giants like OpenAI and Microsoft are increasing infrastructure investment, and many places in the US are promoting gigawatt - scale cluster projects, with single - project investment exceeding $10 billion, focusing on the deployment of high - density liquid - cooling technology. At the same time, local US governments are attracting investment through incentive policies such as tax exemptions and fee - for - tax deductions. However, policy uncertainties brought about by the mid - term elections and the Fed's leadership change may affect the industry's investment rhythm and implementation process. In addition, new energy vehicles and global power grid upgrades remain the core driving forces, and power grid renovations in Europe and the US and the expansion of the manufacturing industry in Southeast Asia continue to contribute to the increase [7]. - In terms of trading strategies, the short - term rigid replenishment of downstream enterprises provides a bottom support for prices. Based on the long - term positive fundamentals, the idea of buying copper on dips remains unchanged. Currently, the price fluctuates greatly, so it is particularly important to find a good safety margin for buying. In terms of spread trading, the current profit margin for spot exports has narrowed, so be cautious with internal - external reverse arbitrage [7]. 3. Summaries According to Relevant Catalogs 3.1 Trading End - **Volatility**: The volatility of LME, SHFE, INE, and COMEX copper has expanded. The LME copper price volatility is around 20%, and the SHFE copper volatility has reached about 25%, showing a significant rebound from the previous week [13]. - **Term Spread**: The term structure of SHFE copper has weakened marginally. The spread between SHFE 01 - 02 contracts was - 200 yuan/ton on January 9, 2026, lower than 560 yuan/ton on December 31. The LME copper spot premium has expanded, with the LME 0 - 3 premium reaching $41.94/ton on January 9, higher than $38.60/ton on January 2. The near - end C structure of COMEX copper has expanded, with the price spread between the February and March 2026 contracts being - $68.34/ton on January 9, significantly wider than - $55.12/ton on January 2 [20]. - **Position**: The positions of SHFE and INE copper have increased, with the SHFE copper position increasing by 63,900 lots to 681,600 lots, while the LME copper position has decreased [21]. - **Fund and Industry Positions**: The net short position of LME commercial enterprises has decreased, from 77,500 lots on December 24 to 72,600 lots on January 2. The net long position of CFTC non - commercial enterprises has decreased from 59,800 lots on December 30 to 57,900 lots on January 6 [27]. - **Spot Premium and Discount**: The domestic copper spot discount has narrowed, from a discount of 190 yuan/ton on December 31 to a discount of 45 yuan/ton on January 9, 2026. The Yangshan Port copper premium has declined, from $51/ton on December 31 to $42/ton on January 9. The US copper premium has remained at a high level. The Rotterdam copper premium has increased from $185/ton on January 2 to $200/ton on January 9, and the Southeast Asian copper premium has remained at $187.5/ton [34]. - **Inventory**: The global total copper inventory has increased, from 905,500 tons on January 1, 2026, to 950,300 tons on January 8. The domestic social inventory has increased, from 238,900 tons on January 1 to 273,800 tons on January 8, reaching a high level in the same period of history. The bonded area inventory has increased from 75,500 tons on December 31 to 78,800 tons on January 8. The COMEX inventory has increased and is at a high level in the same period of history, rising from 499,800 short tons on January 2 to 518,000 short tons on January 9. The LME copper inventory has decreased, from 155,300 tons on January 2 to 139,000 tons on January 9 [38]. - **Position - to - Inventory Ratio**: The position - to - inventory ratio of SHFE copper 02 contract has declined and is at a low level in the same period of history. The LME copper position - to - inventory ratio has fluctuated, indicating that the overseas spot lacks a driving logic [39]. 3.2 Supply End - **Copper Concentrates**: The import of copper concentrates has increased year - on - year. According to customs data, China's imports of copper ore and concentrates in November 2025 were 2.5262 million tons, a month - on - month increase of 3.05% and a year - on - year increase of 12.55%. The port inventory of copper concentrates has decreased, from 496,000 tons on January 2 to 428,000 tons on January 9. The processing fee for copper concentrates has remained weak, and the smelting loss has decreased from 1,988 yuan/ton on December 31 to 2,016 yuan/ton on January 9, 2026 [45]. - **Recycled Copper**: The import of recycled copper has increased. In November, the import of recycled copper was 208,100 tons, a year - on - year increase of 19.94%. In September, the domestic production of recycled copper was 97,700 tons, a year - on - year increase of 17.85%. The price difference between refined and recycled copper has expanded and is higher than the break - even point, and the import loss of recycled copper has turned into a profit [46][51]. - **Blister Copper**: The import of blister copper has increased month - on - month. In November, the import was 58,300 tons, a month - on - month increase of 5.60%. In December, the processing fee for blister copper has recovered, with the southern processing fee at 1,500 yuan/ton and the import processing fee at $95/ton [55]. - **Refined Copper**: The domestic production of refined copper has increased year - on - year. In November, the production was 1.1031 million tons, a year - on - year increase of 9.75%, and the cumulative production from January to November was 12.2545 million tons, a year - on - year increase of 11.76%. It is expected that the production in December will be 1.0955 million tons, a year - on - year increase of 6.69%. The import volume of refined copper has decreased. In November, the import was 271,100 tons, a year - on - year decrease of 24.67%. China's imports of unwrought copper and copper products in November were 430,000 tons, a year - on - year decrease of 18.87%. The loss of copper spot imports has narrowed, from a loss of 1,083.72 yuan/ton on December 31 to a loss of 981.04 yuan/ton on January 9, 2026 [58]. 3.3 Demand End - **Operating Rate**: In November, the operating rates of copper tube and copper plate and strip foil enterprises have rebounded but are at a low level in the same period of history. In the week of January 8, the operating rate of wire and cable enterprises has declined marginally [62]. - **Profit**: The processing fee for copper rods has rebounded but is at a low level in the same period of history. As of January 9, the processing fee for copper rods used in the power industry in East China was 410 yuan/ton, higher than 240 yuan/ton on December 31. The processing fee for copper tubes has rebounded and is at a high level in the same period of history. On January 9, the 10 - day moving average of the processing fee for R410A special copper tubes was 5,368 yuan/ton, higher than 5,343 yuan/ton on December 31. The processing fees for copper plates and strips and lithium - ion copper foils have remained stable and are at a low level [67]. - **Raw Material Inventory**: In November, the raw material inventory of copper rod enterprises was at a moderately low level in the same period of history, and the raw material inventory of copper tubes was at a low level in the same period of history. The weekly raw material inventory of wire and cable enterprises has continued to decline [68]. - **Finished Product Inventory**: In November, the finished product inventory of copper rod enterprises was at a high level in the same period of history, and the finished product inventory of copper tubes was at a relatively low level in the same period of history. The weekly finished product inventory of wire and cable enterprises has decreased [71]. 3.4 Consumption End - **Apparent Consumption**: The domestic actual consumption of copper has performed well. From January to November, the cumulative consumption was 14.5615 million tons, a year - on - year increase of 6.14%. From January to November, the apparent consumption was 14.6431 million tons, a year - on - year increase of 5.44%. Industries such as power grid investment, home appliances, and new energy are important supports for copper consumption. Among them, the growth rate of power grid investment has slowed down. From January to November, the cumulative power grid investment was 560.4 billion yuan, a year - on - year increase of 5.90% [78]. - **Air - Conditioner and New Energy Vehicle Production**: In November, the domestic air - conditioner production was 10.577 million units, a year - on - year decrease of 35.70%. In November, the domestic new energy vehicle production was 1.88 million units, a year - on - year increase of 20.05% [79].