Core Viewpoint - China's bridge construction capabilities are advancing rapidly, utilizing innovative technologies and materials to achieve world-leading standards in engineering and design [1][3]. Structural Innovation - The Hubei Yanjing Yangtze River Bridge features a unique "four-cable system" that overcomes challenges related to large spans and aviation height restrictions, showcasing advancements in bridge structure design [3]. - New breakthroughs in bridge structures focus on enhancing span, adapting to complex environments, and optimizing load performance, with innovations in beam and arch bridge designs [3][4]. - The Jiangsu Changtai Yangtze River Bridge employs a hybrid "steel-concrete" structure to set a new world record for cable-stayed bridge spans [4]. Material Innovation - Innovations in materials include lightweight saddle designs that improve performance by over 30%, high-strength cables that are corrosion-resistant, and green concrete that reduces costs by approximately 30 yuan per cubic meter [5][6]. - The use of high-performance rock powder as a concrete additive can replace 20% of cement, significantly reducing carbon emissions during construction [6]. Equipment Innovation - The construction of major bridges is supported by advanced equipment, such as customized shield machines and heavy-lift cranes, which enhance construction efficiency and precision [7][8]. - The shift towards industrialized, intelligent, and green construction methods is transforming traditional construction sites into efficient production lines, improving construction speed and reducing land use [8][9]. - Future trends in bridge equipment innovation include developing next-generation super equipment for extreme environments, integrating AI and IoT for automated control, and creating modular solutions for rapid assembly [9].

Group 1 - The core viewpoint of the news is that Dayu Water-saving has shown fluctuations in stock performance, with a current price of 4.54 CNY per share and a market capitalization of 4.642 billion CNY [1] - As of December 19, Dayu Water-saving's stock has increased by 13.19% year-to-date, with a recent 5-day increase of 0.44%, a 20-day decrease of 1.94%, and a 60-day decrease of 9.92% [1] - The company has been listed on the stock market since October 30, 2009, and its main business involves the research, manufacturing, sales of water-saving irrigation materials, and the design and construction of water-saving irrigation projects [1] Group 2 - Dayu Water-saving belongs to the agricultural sector, specifically under the categories of agriculture and comprehensive agriculture, and is associated with concepts such as rural revitalization and smart agriculture [2] - As of September 30, the number of shareholders for Dayu Water-saving has increased by 54.01% to 48,200, while the average circulating shares per person have decreased by 24.15% [2] - For the period from January to September 2025, Dayu Water-saving reported a revenue of 2.067 billion CNY, representing a year-on-year growth of 9.73%, while the net profit attributable to the parent company was 11.0768 million CNY, a decrease of 62.92% year-on-year [2] Group 3 - Since its A-share listing, Dayu Water-saving has distributed a total of 567 million CNY in dividends, with 165 million CNY distributed over the past three years [3]

12月18日，上海复兴岛——全球创客岛启动暨2025上海量子城市年度大会在上海市杨浦区复兴岛举办。 记者了解到，复兴岛正着眼打造"全球创客岛"，其战略留白空间的存量工业建筑正陆续被临时改造为共 享实验室、概念验证中心、中试基地等全周期创新空间，旨在为全球创客提供低成本、开放式、多元化 的创新创业环境。 据了解，复兴岛曾是上海重要的工业基地和仓储区，见证了中国近代民族工业的崛起与繁荣，是承载了 百年复兴记忆的"时光胶囊"。岛上保留着旧仓库、厂房和码头设施等大量工业遗存，同时拥有独特的生 态资源，全岛绿化覆盖率超过60%。 随着上海黄浦江沿岸开发向两端不断延伸，以复兴岛为中心的滨江中北段，成为重要的战略发展空间。 去年12月，复兴岛成为量子城市时空创新先行实验区，开启"留白之地"到"创新高地"的转型。 据介绍，杨浦区将为复兴岛创新创业集聚区构建全链条的政策支持体系。创业环境方面，为创新主体提 供阶段性房租减免，发放新质秀带创新券，降低企业智能算力成本，支持创新企业在初期阶段快速成 长。孵化品牌方面，有序推动复兴岛未来产业载体改造建设，对引进的国内外知名孵化机构加大运营补 贴力度，加强对孵化机构的引育奖励。 在上海 ...

Core Viewpoint - The stability of winter energy supply is crucial for the smooth development of the economy and society, with coal being the primary energy source in China, ensuring sufficient supply is essential for residential heating and industrial production [1][2]. Group 1: Energy Supply Measures - Various regions are implementing energy supply assurance measures to increase production, ensure transportation, and optimize scheduling to enhance energy supply capabilities [1]. - In November, national railways delivered a total of 184 million tons of coal, a year-on-year increase of 0.3%, with thermal coal accounting for 128 million tons [1]. - By the end of November, coal stockpiles at power plants reached 88.23 million tons, with a consumption duration of 35.8 days, an increase of one day compared to the previous year [1]. Group 2: Multi-Modal Transportation and Renewable Energy - In Xinjiang, a multi-modal transportation system has been established, with coal exports expected to reach 10 million tons, a 10% increase year-on-year [2]. - The Daqin Railway in Shanxi is undergoing capacity expansion and integrating AI technology, maintaining a daily transport volume of 1.3 million tons since November [2]. - Renewable energy sources, particularly wind and solar, are increasingly contributing to winter energy supply, with renewable energy installations reaching 332 million kilowatts in the first ten months of 2025, accounting for nearly 60% of total installed capacity [2]. Group 3: Technological Advancements in Energy Management - The integration of AI, big data, and digital twin technologies is enhancing the complexity and reliability of the power system, allowing for more precise and rapid adjustments [3]. - Smart inspection technologies, such as drones and robots, are being utilized for efficient monitoring and fault detection in power grids [3]. Group 4: Recommendations for Energy Stability - To ensure energy stability, it is recommended to increase coal supply, promote flexibility in coal power, and accelerate the construction of pumped storage and new energy storage systems [4]. - Upgrading the distribution network and building ultra-high voltage transmission networks are essential for transporting clean energy from the northwest to the eastern regions [4]. - Encouraging demand-side flexibility through pricing mechanisms and enhancing digital capabilities for better forecasting and scheduling are also suggested [4].

责任编辑：小浪快报 神州泰岳所属申万行业为：传媒-游戏Ⅱ-游戏Ⅲ。所属概念板块包括：网络游戏、区块链、数字孪生、 手游、态势感知等。 截至12月10日，神州泰岳股东户数10.32万，较上期增加0.19%；人均流通股17863股，较上期减少 0.19%。2025年1月-9月，神州泰岳实现营业收入40.68亿元，同比减少9.86%；归母净利润7.24亿元，同 比减少33.77%。 分红方面，神州泰岳A股上市后累计派现12.97亿元。近三年，累计派现3.72亿元。 机构持仓方面，截止2025年9月30日，神州泰岳十大流通股东中，华夏中证动漫游戏ETF（159869）位 居第一大流通股东，持股5645.99万股，相比上期增加965.14万股。易方达创业板ETF（159915）位居第 三大流通股东，持股4023.93万股，相比上期减少665.10万股。南方中证500ETF（510500）位居第七大 流通股东，持股2857.41万股，相比上期减少58.81万股。香港中央结算有限公司位居第八大流通股东， 持股2817.08万股，相比上期减少2818.85万股。易方达中证人工智能主题ETF（159819）位居第十大流 通股东 ...

几经沉淀，如今上海的元宇宙产业生态更盛、场景更多，愈发地触手可及、落到实处。 以沉浸式体验重塑教育 戴上智能头显设备，你便能够让上海工人阶级第三次武装起义的历史场景和现实的室内场景交叠起来。 在设定好的故事线中，你可以收集物品、扣动扳机、开动列车，完成一项项任务，沉浸式地走入那个烽 火年代的碎片之中。 《红色黎 明》项目内场景 受访者 供图 这是"上海商学院·中共一大纪念馆新媒体与元宇宙实验室"开发的MR大空间场景《红色黎明》。实验室 于2024年6月正式揭幕，由上海商学院与中共一大纪念馆共建，并联合复旦大学等高校开展元宇宙交互 技术研发，面向公众和大学生开展沉浸式的思想政治教育。 在众多未来产业赛道中，元宇宙一度掀起热潮，而上海的系统性布局也早早展开。。2022年和2023年， 上海先后发布《上海市培育"元宇宙"新赛道行动方案（2022—2025年）》和《上海市"元宇宙"关键技术 攻关行动方案（2023—2025年）》。 如今行动计划将至收官，得见成效，黄浦江畔元宇宙的"风"又吹起来。今年9月底，上海举行2025元宇 宙发展论坛，发布了第一批上海市元宇宙创新产品和解决方案优秀成果。论坛透露，截至2024年底 ...

12月19日，新时达盘中上涨2.03%，截至09:50，报15.05元/股，成交2596.08万元，换手率0.33%，总市 值99.79亿元。 资金流向方面，主力资金净流入312.30万元，大单买入442.66万元，占比17.05%，卖出130.36万元，占 比5.02%。 新时达今年以来股价涨71.41%，近5个交易日跌2.27%，近20日跌5.70%，近60日跌26.19%。 今年以来新时达已经4次登上龙虎榜，最近一次登上龙虎榜为3月3日，当日龙虎榜净买入-4817.58万 元；买入总计1.92亿元 ，占总成交额比12.50%；卖出总计2.40亿元 ，占总成交额比15.64%。 资料显示，上海新时达电气股份有限公司位于上海市嘉定区思义路1560号，成立日期1995年3月10日， 上市日期2010年12月24日，公司主营业务涉及电梯控制与驱动类产品以及电梯物联网、节能与工业传动 类产品、机器人与运动控制类产品等工业自动化控制产品的研发、制造和销售。主营业务收入构成为： 通用控制与驱动产品及系统53.91%，机器人产品及系统19.35%，电梯控制产品及系统18.30%，其他产 品8.44%。 新时达所属申万行 ...

Core Insights - The "Game+" forum held in Shanghai focuses on the integration of gaming technology into various sectors, highlighting its societal value and potential for growth in industries like healthcare, cultural tourism, and education [1][3]. Group 1: Industry Trends - The gaming industry is transitioning from exploration to widespread practice, becoming a significant driver for industrial growth and societal convenience [1]. - The release of the "Digital Game Activation and Transmission of Chinese Intangible Cultural Heritage Report" emphasizes the unique role of games in cultural heritage preservation and development opportunities [1][3]. Group 2: Cross-Industry Applications - Unity's technology director presented case studies on how the Unity engine supports digital transformation across industries, including automotive and smart cities, showcasing its application in digital twin technologies [3]. - AI is evolving from a cost-reduction tool to an experience creation engine, enhancing the entire game development lifecycle and facilitating applications in education and healthcare [3]. - Tencent's "Cognitive Training" product, designed for mild cognitive impairment, achieved a 98% completion rate in clinical trials, indicating its effectiveness and potential for broader healthcare applications [3][5]. Group 3: Social Impact Initiatives - The "Game+ Social Value" initiative aims to empower over 60,000 youth globally through projects like "SDG Hero," exploring pathways for social impact through gaming [5]. - The gaming industry is being recognized for its potential to drive environmental actions, leveraging its global player base for sustainability efforts [7]. - Innovative approaches, such as functional board games for social psychological healing, are being developed to address youth concerns, providing low-cost and high-participation tools for non-clinical psychological interventions [7].

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IPO Details - The IPO price is set at HKD 30.50[1] - The total fundraising amount is estimated at HKD 6.52 billion[1] - The total number of shares offered is 2,398,000 shares, with 2,278,000 shares allocated for international placement (approximately 95%) and 120,000 shares for public offering (approximately 5%)[1] Company Overview - The company specializes in digital twin technology, focusing on 3D graphics, simulation, and artificial intelligence[2] - It aims to create a digital twin of the Earth by 2030, addressing real-world issues in various fields such as traffic, AI training, and climate prediction[2] Market Potential - The global digital twin solutions market is projected to grow from USD 3.9 billion in 2020 to USD 13.29 billion in 2024, with a CAGR of 26.4%[3] - The Chinese market for digital twin solutions is expected to increase from RMB 4.1 billion in 2020 to RMB 17.11 billion in 2024, with a CAGR of 31.6%[3] Financial Performance - The company's revenue is forecasted to grow from RMB 170 million in 2022 to RMB 287 million in 2024, with an adjusted loss narrowing to RMB 43 million[4] - The estimated market capitalization post-IPO is approximately HKD 12.4 billion, with a price-to-sales ratio of about 40.0X for 2025, indicating a high valuation[4]