据公司招股书显示，龙图光罩成立于2010年，主营业务为半导体掩模版的研发、生产和销售，是独立第 三方半导体掩模版厂商，其产品广泛应用于信号链及电源管理IC等成熟制程，以及功率器件、MEMS传 感器、先进封装等特色工艺制程。 龙图光罩介绍，自公司在科创板挂牌上市以来，不断增加投入进行技术攻关和产品迭代，工艺能力从 130nm逐步提升至65nm，并已完成40nm工艺节点的生产设备布局。目前，公司与国内重点的晶圆厂及 设计公司均建立了深度的合作关系，技术实力及工艺能力在国内同行中处于第一梯队。 中证报中证网讯（王珞）日前，龙图光罩（688721）在其官方微信公众号宣布，90nm节点的半导体掩 模版产品已在珠海"高端半导体芯片掩模版制造基地"正式实现量产，同时65nm产品开始送样验证，标 志着公司在高端制程的影响力进一步增强，覆盖的下游领域更加广泛。 产品从130nm到65nm进化 持续加大技术研发投入 龙图光罩2024年年报指出，近年来，新能源、AI、自动驾驶、物联网、5G通信、VR/AR、元宇宙等新 兴领域呈现出强劲的增长态势，促使半导体企业加快技术创新和产品升级步伐，推动了掩模版市场规模 的持续扩大，但长期以来 ...

截至午间收盘，上证科创板成长指数上涨1.8%，科创100指数上涨1.1%，科创综指上涨0.7%，上证 科创板50成分指数上涨0.1%。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 | 科创板系列指数基本情况跟踪 (2025年7月31日) | | | | | --- | --- | --- | --- | | 科创板50ETF 1 | | | 588080 | | 跟踪上证科创板50成份指数 | | | | | 该指数由科创板中市值大、流动性 | 截至午间收盘 | 该指数 | 该指数自2020年 | | 好的50只股票组成,"硬科技"龙 | 该指数涨跌 | 凝可市留学 | 发布以来估值分位 | | 头特征显著,半导体占比超60%, | | | | | 与医疗器械、软件开发、光伏设备 | 0.1% | 146. 1倍 | 99. 5% | | 行业合计占比超75% | | | | | 科创1 ...

除去施成外，国投瑞银主动权益团队惊现群龙无首的状态，比如老将綦缚鹏在管产品的同期回报均不到 10%；另一老将桑俊不仅同样没有在管基金净值增长率超过10%，甚至新机遇灵活配置混合到目前还没 能实现由负转正。 01 大幅换仓收效一般施成疑似时机把握不对 但从二级市场的实际表现来看，虽然中芯的涨幅超过了10%，但是寒武纪到目前还是下跌的状态未能回 到水位之上。再对比来看另外的三家标的公司，它们涉及了工业机器人、AI算力、英伟达产业链等多 重热门概念，而且近三个月的涨幅尚可，但年内的涨幅大多不到10%。 文|吴理想 来源|财富独角兽 近期公募基金二季报披露结束，公募基金在风云变幻二季度的调仓也完整浮出水面，曾经的明星基金经 理如何败走麦城的原因也清晰显露，包括国投瑞银曾经的当红炸子鸡施成。 天天基金网的数据显示，这位曾经因新能源而出圈的年轻明星近两年业绩大幅落后，即便在目前全面牛 市启动的2025年，他所管理的产品也仅有两只基金收益率超过10%；以他在管产品中任职回报最高的先 进制造混合为例，目前的净值增长率仅在4.30%。 从国投瑞银先进制造的情况来看，对比二季报和一季报的十大重仓股，笔者发现施成对组合的标的进行 ...

据央视新闻消息，国家能源局发布会上透露，今年上半年我国能源供应充足、结构持续优化。原煤、油 气生产稳步增长，风电和太阳能发电装机容量突破历史记录。可再生能源新增装机达2.68亿千瓦，占新 增装机的90%以上，推动新能源高质量发展。重点项目投资同比增长21.6%，民营企业在光伏和风电领 域投资加速。全国可再生能源装机总量达21.59亿千瓦，占总装机约59.2%。 ...

Group 1 - Midea plans to invest 50 billion yuan in cutting-edge technology over the next three years, focusing on areas such as AI models, new energy, robotics, and embodied intelligence [1][2] - The investment strategy is a response to increasing competition in the home appliance industry, particularly from brands like Xiaomi and emerging players [2][3] - Midea's chairman, Fang Hongbo, emphasizes the need to shift from a home appliance focus to a technology-driven approach, indicating a strategic pivot towards B2B operations [4][10] Group 2 - Midea's R&D expenditure has been significant, with nearly 60 billion yuan invested over the past five years, and 16.2 billion yuan allocated in 2024 alone, reflecting a commitment to technological advancement [12][13] - The company has a history of acquisitions to strengthen its supply chain and technological capabilities, including the complete acquisition of KUKA, a leading robotics company [14][16] - Despite these efforts, Midea's B2B revenue remains only 25.67% of total revenue, indicating challenges in achieving its strategic goals [22] Group 3 - The competitive landscape is intensifying, with domestic rivals like Ecovacs and Roborock entering the robotics sector, which Midea has historically dominated [27][29] - Midea's competitive advantages stem from its manufacturing efficiency and technological investments, but the rise of new entrants poses a threat to its market position [28][29] - The company faces pressure to innovate and maintain its leadership in the face of rapidly evolving competition in the robotics and home appliance markets [27][29]

2025.07. 31 本文字数：2287，阅读时长大约4分钟 作者 | 第一财经 祝嫣然 今年上半年国民经济运行稳中有进，全国全社会用电量4.84万亿千瓦时，同比增长3.7%；一、二季 度全社会用电量同比分别增长2.5%、4.9%。 中电联统计与数智部主任侯文捷表示，用电量是国民经济发展的"晴雨表"，电力消费的回升，反映出 上半年我国国民经济总体稳中有进、回升向好的态势。 第二产业用电量逐季回升，促消费系列政策的逐步落地拉动部分省份工业用电量回温。高技术及装备 制造业用电表现亮眼，上半年用电量增速高于同期制造业平均增长水平1.7个百分点，二季度用电量 比一季度提高0.3个百分点。 服务业用电量快速增长，上半年，第三产业用电量同比增长7.1%；二季度同比增长9.0%，增速比一 季度提高3.8个百分点。"两新"等政策进一步推动新能源汽车以及充电桩、5G等新型基础设施建设快 速发展，拉动信息传输业、充换电服务业用电量高速增长，信息传输业、充换电服务业二季度用电量 增速比一季度分别提高4.6和3.3个百分点。 迎峰度夏电力供需总体平衡 今年入夏后，用电负荷快速增长，尤其是7月以来，全国多个区域及地方电力负荷不断创新 ...

Report Summary 1. Report Industry Investment Ratings No industry investment ratings are provided in the report. 2. Core Views - **Nickel**: Macro - expectations determine the direction, while fundamentals limit the elasticity [2][4] - **Stainless Steel**: Macro - sentiment dominates the margin, and the real - world situation still needs to be repaired [2][4] - **Lithium Carbonate**: It experiences wide - range fluctuations, and the disturbances at the mine end have not materialized [2][9] - **Industrial Silicon**: Market sentiment has weakened [2][12] - **Polysilicon**: Attention should be paid to market sentiment changes [2][12] 3. Summary by Commodity Nickel and Stainless Steel - **Fundamental Data**: The closing price of the Shanghai Nickel main contract was 121,720 yuan, down 80 yuan from the previous day; the stainless - steel main contract was 12,920 yuan, unchanged from the previous day. The trading volume of the Shanghai Nickel main contract was 153,323 lots, an increase of 33,388 lots from the previous day, and the stainless - steel main contract was 153,403 lots, an increase of 14,642 lots from the previous day [4] - **Macro and Industry News**: Events include Canada's Ontario province potentially halting nickel exports to the US, the trial production of an Indonesian nickel - iron project, environmental violations in an Indonesian industrial park, changes in Indonesia's mining quota policy, and production suspensions in some Indonesian nickel - iron smelting parks [4][5][6] - **Trend Intensity**: Nickel trend intensity is 0, and stainless - steel trend intensity is 0 [8] Lithium Carbonate - **Fundamental Data**: The closing price of the 2509 contract was 70,600 yuan, down 240 yuan from the previous day; the trading volume was 792,909 lots, an increase of 48,749 lots from the previous day; the open interest was 272,753 lots, a decrease of 27,867 lots from the previous day [9] - **Macro and Industry News**: SMM's battery - grade lithium carbonate index price decreased. Greenbushes and Pilbara released their production and sales data and 2026 fiscal - year plans [9][10][11] - **Trend Intensity**: Lithium carbonate trend intensity is - 1 [11] Industrial Silicon and Polysilicon - **Fundamental Data**: The closing price of the Si2509 contract was 9,285 yuan/ton, down 65 yuan from the previous day; the trading volume was 605,161 lots; the open interest was 242,677 lots, a decrease of 34,057 lots from the previous day. The closing price of the PS2509 contract was 54,705 yuan/ton, an increase of 3,900 yuan from the previous day [12] - **Macro and Industry News**: The US will partially cancel trade tariffs on certain small - scale solar equipment imported from China [13] - **Trend Intensity**: The trend intensity of industrial silicon and polysilicon is - 1 [14]

中电联表示，8月份，将进入电力保供的关键期，从目前国家气候中心的预测，结合宏观经济企稳回升 的态势，迎峰度夏期间，全国电力供需总体平衡。 今年上半年国民经济运行稳中有进，全国全社会用电量4.84万亿千瓦时，同比增长3.7%；一、二季度全 社会用电量同比分别增长2.5%、4.9%。 中电联规划发展部主任张琳在发布会上回答第一财经记者提问时表示，"十五五"时期，如何更好统筹电 力安全保障和绿色低碳转型，加快构建新型电力系统，面临一系列新的机遇和挑战。预计2030年全国全 社会用电量达到13万亿千瓦时以上。电力供需平衡难度持续增加，需要加快推动新型电力系统源网荷储 全环节迭代升级，有效满足体量庞大的新增用电需求。 用电量增速平稳回升 今年上半年，我国全国全社会用电量同比增长3.7%；二季度比一季度提高2.4个百分点；分月看，用电 量增速总体平稳回升。 中电联统计与数智部主任侯文捷表示，用电量是国民经济发展的"晴雨表"，电力消费的回升，反映出上 半年我国国民经济总体稳中有进、回升向好的态势。 第二产业用电量逐季回升，促消费系列政策的逐步落地拉动部分省份工业用电量回温。高技术及装备制 造业用电表现亮眼，上半年用电量增速 ...

Core Viewpoint - Shandong Tianyue Advanced Technology Co., Ltd. is a leading player in the wide bandgap semiconductor materials industry, focusing on the research and industrialization of silicon carbide substrates, and is ranked among the top three global manufacturers in this sector with a market share of 16.7% as of 2024 [1][3]. Company Overview - The company has established itself as a significant supplier to international semiconductor firms, having formed business partnerships with over half of the top ten power semiconductor device manufacturers globally by revenue as of March 31, 2025 [2]. - Tianyue Advanced is recognized for its pioneering efforts in the industrialization of semi-insulating silicon carbide substrates and has successfully scaled production from 2-inch to 8-inch substrates, with plans to launch the first 12-inch silicon carbide substrate in 2024 [2]. Market Dynamics - The global silicon carbide substrate market is characterized by intense competition, rapid technological advancements, and evolving customer demands, with the top five market participants holding a combined market share of 68.0% as of 2024 [3]. - Silicon carbide materials are gaining traction due to their superior characteristics compared to traditional silicon materials, particularly in power semiconductor devices, with the global power semiconductor device market expected to reach $19.7 billion by 2030, growing at a compound annual growth rate of 35.8% from 2024 to 2030 [3]. Financial Performance - The company reported revenues of approximately 417 million RMB, 1.251 billion RMB, 1.768 billion RMB, and 408 million RMB for the fiscal years 2022, 2023, 2024, and the three months ending March 31, 2025, respectively [3]. - Profit figures for the same periods were approximately -176 million RMB, -46 million RMB, 179 million RMB, and 9 million RMB [3].

Core Viewpoint - The report highlights the financial performance and operational challenges faced by Anhui Annada Titanium Industry Co., Ltd. in the first half of 2025, with a significant decline in revenue and net profit compared to the previous year, primarily due to weak demand in the downstream market and increased competition in the titanium dioxide industry [2][3][4]. Company Overview and Financial Indicators - Anhui Annada Titanium Industry Co., Ltd. is listed on the Shenzhen Stock Exchange under the stock code 002136, with a focus on the production and sale of titanium dioxide and iron phosphate products [2]. - The company reported a revenue of approximately CNY 875.93 million in the first half of 2025, a decrease of 10.51% compared to CNY 978.81 million in the same period last year [3][19]. - The net profit attributable to shareholders was a loss of CNY 26.27 million, a decline of 158.08% from a profit of CNY 45.23 million in the previous year [3][19]. - The company’s basic earnings per share were -0.1222, down from 0.2103 in the previous year, indicating a significant drop in profitability [3][19]. Industry Analysis - The titanium dioxide industry in China has seen rapid growth since the mid-1990s, with production increasing from 140,000 tons in 1998 to 4.766 million tons in 2024 [4]. - In the first half of 2025, China's titanium dioxide production was approximately 2.3953 million tons, remaining stable compared to the previous year [4]. - The market for titanium dioxide is influenced by the performance of downstream industries such as real estate, packaging materials, plastics, and automotive, with current demand being affected by a slowdown in the real estate sector [4][5]. Market Conditions - The titanium dioxide market experienced two phases in the first half of 2025: an initial price increase due to supply-demand imbalances followed by a decline in prices due to high inventory levels and reduced market activity [4][5]. - Domestic demand for titanium dioxide has been limited, with a reported decrease in exports by 5.75% year-on-year, totaling 916,600 tons in the first half of 2025 [5][6]. Product and Business Model - The company primarily produces rutile and anatase titanium dioxide, which are used in various industries including coatings, plastics, and paper [8][9]. - The production process involves purchasing titanium concentrate and using the sulfate method for processing [9]. - The company has also ventured into the production of iron phosphate, which is a key material for lithium iron phosphate batteries, benefiting from the growth in the new energy vehicle sector [6][10]. Competitive Position - As one of the few publicly listed titanium dioxide manufacturers in China, the company holds a competitive edge in product quality and has established a strong brand presence in the market [10][12]. - The company has invested in technology and innovation, holding multiple patents and collaborating with universities for research and development [10][14]. Future Outlook - The company aims to enhance its product competitiveness through technological upgrades and cost reduction strategies, while also expanding its market presence in both domestic and international markets [12][13]. - The growth of the new energy sector is expected to drive demand for iron phosphate, positioning the company favorably for future opportunities [6][10].