来源：股市直击 11月13日消息，三大指数集体低开，海南自贸区板块跌幅居前。截至今日开盘，沪指报3996.51点，跌 0.09%；深成指报13228.50点，跌0.09%；创指报3119.09点，跌0.09%。 消息面： 4、黄金市场热度持续攀升，11月12日国内品牌金饰价格迎来新一轮大幅上涨，多数品牌克价已突破 1300元/克关口，部分头部品牌报价更是超过1310元/克，创下单品价格新高。 5、首个具备"万辆级"产能的电动垂直起降飞行汽车工厂近日在广州进入试产阶段，这标志着在低空经 济领域，该类产品在国内首次进入规模化制造环节。 6、三星、SK海力士、铠侠、美光这四大存储龙头今年下半年都纷纷削减NAND闪存供应量。同时，三 星电子、SK海力士和铠侠等正在谋划推动NAND价格上调。 7、瑞幸回应重回美国主板上市：没有确定的时间表，现阶段的首要任务仍是聚焦发展。 8、北大医药公告，董事长徐晰人因涉嫌刑事犯罪，已被重庆市江北区人民检察院批准逮捕。 9、百济神州公告，前三季度净利润11.39亿元，同比扭亏为盈。世纪华通公告，拟5亿元至10亿元回购 股份，用于注销减少注册资本。 10、江波龙公告，第二大股东李志雄9月 ...

Market Overview - Major indices in China opened slightly lower, with the Shanghai Composite Index down 0.09%, the Shenzhen Component down 0.09%, and the ChiNext Index down 0.09% [1] - The Shanghai Composite Index closed at 3996.51, with a trading volume of 63.67 billion [2] - The Shenzhen Component Index closed at 13228.50, with a trading volume of 92.07 billion [2] - The NASDAQ Golden Dragon China Index fell by 1.46%, with notable declines in companies like Xpeng, NIO, and Baidu, which dropped over 2% [3] Industry Insights - CITIC Securities forecasts that the pharmaceutical industry will continue to be an overweight sector, driven by innovation and supportive policies, leading to stable growth in the domestic market [4] - China Galaxy Securities reports that the machinery industry has shown steady revenue growth, with total revenue reaching 18924 billion, a year-on-year increase of 8.43% [5] - Huatai Securities expresses optimism for the power grid equipment sector, highlighting a 47% and 44% increase in the unit price of new standard electric meters and transformers, respectively, indicating a recovery in profitability [6]

NO.1 中信证券：国产储能产业链具备明显优势 方正证券研报称，四季度车市预计环比增长态势持续，板块经历回调后当前PE-TTM处于近五年50%分 位以下，11~12月有望继续回暖，叠加四季度与明年出口复苏，明年一季度的悲观预期陆续消化磨底。 重点关注汽车板块内部高低切换下细分子板块(客车、重卡、传统整车/零部件)低位补涨机会；出海占比 高，盈利能力强的细分行业龙头；以及车基本面企稳、外部催化的公司。 11月13日，银河证券研报指出，机械行业前三季度营收利润延续稳健增长。2025年前三季度宏观经济运 行整体平稳，机械行业上市公司业绩保持良好增长，合计实现营业收入18924亿元，同比+8.43%。建议 2025年下半年重点关注：（1）新质生产力孕育下的新一轮设备投资机遇，包括人形机器人、低空经 济、可控核聚变等；（2）内需复苏叠加出口稳中向好的工程机械；（3）内需复苏下的顺周期通用设备 板块。 NO.3 方正证券：四季度车市预计环比增长态势持续 11月13日，中信证券研报认为，参考CNESA（中关村储能产业技术联盟）、Wood Mackenzie、 SolarPower Europe、集邦咨询、BNEF等数据，预 ...

粤港澳大湾区，是我国开放程度最高、经济活力最强的区域之一，以不到全国0.6%的国土面积，创造了全国约1/9的经济总量。大湾区也是国内上市公司密 度最高的区域之一，Wind数据显示，大湾区内地九市合计拥有813家A股上市公司。 近几年来，大湾区上市公司持续展现出勃勃的发展生机，科技创新层出不穷、新兴赛道持续拓宽、出海踏浪闪耀全球.……为区域乃至全国的高质量发展交 出了一份亮眼的答卷。 科创攻坚：强研发塑造核心竞争力 香港中文大学（深圳）公共政策学院院长、广州粤港澳大湾区研究院理事长郑永年近日在2025世界粤商大会上表示，科技进步的"三驾马车"，一是拥有一大 批基础科研能力的大学或机构，二是拥有一大批有能力把基础科研转化成应用技术的企业，三是需要强大的金融服务。 "在粤港澳大湾区，这三个条件是最具备的，甚至比美国的条件还好。"郑永年表示，粤港澳大湾区在短短数年内成为世界制造业中心，就在于大湾区的应用 技术强。"就人工智能技术来说，大湾区的发展比美国更快，这主要得益于大湾区更充足的人工智能应用场景。" 产业升级：拓赛道竞逐新质生产力 世界知识产权组织（WIPO）今年9月发布的"世界百强创新集群"排行榜中，深圳—香港 ...

在轻工纺织产业领域，围绕高端化、绿色化、智能化发展需求，提升绿色低碳生产工艺，强化前沿技 术研究和高端产品开发。比如，在纺织领域，加快研发具备长效阻燃、无氟疏水等多功能的先进纤维 制品，开发人造血管、医用敷料等高端医用纺织品，研制无源降温、智能检测、仿生与生物合成等新 型纺织品。在造纸领域，针对航空航天、电子电器等特殊需要，研制耐极端温度纸、高压电解电容 纸、纸基柔性电子器件等新产品，大幅拓宽纸基材料应用场景。 在现代冶金产业领域，面向行业转型需求，加快高端原材料制备、精密加工工艺、核心装备与零部件 的研发与应用，重点研制超高强度钢、海洋用铝合金、极薄锂电铜箔、光伏用银浆料等高端产品，大 幅提升"拳头产品"核心竞争力。面向深海深空、新兴能源、生命科学等重大战略需求，重点开发稀土 功能材料、特种镁、钛合金等前沿材料，加快实现产业化，抢占未来产业发展先机，推动山东省建设 成为具有世界影响力的现代冶金产业创新高地。 同时，4个行动计划从创新资源统筹、创新平台建设、企业创新主体地位、创新人才保障、科技成果转 化、产业集群发展和完善协调机制等方面提出了具体推进举措。 下一步，省科技厅将全面贯彻落实党的二十届四中全会精神 ...

Core Points - The 2025 Qingdao International Talent Innovation and Entrepreneurship Week, also known as the 25th Qingdao Blue Economy International Talent and Industry-Academia-Research Cooperation Fair, was held in Qingdao, Shandong Province, focusing on attracting global talent and innovation [1][2] - The event attracted over 640 participants, including more than 80 high-level overseas talents from 24 countries and regions, showcasing 6,380 quality job demands, thereby gathering global intellectual resources to inject new momentum into innovation and development [1] - The conference featured a diverse array of attendees, including overseas high-level talents, award winners from the "Innovation and Entrepreneurship Competition," foreign experts, international students, and returnees, emphasizing the construction of Qingdao's "10+1" innovative industrial system [1] Summary by Sections Event Overview - The "Blue Fair" has evolved from a regional exchange event into a global "International Intelligence Fair" over 25 years, having released over 31,000 overseas talent job positions and attracted more than 16,000 high-level overseas talents to settle in Qingdao [2] - The platform has supported the establishment and growth of over 590 high-tech enterprises in the region [2] Participation and Focus Areas - The event included exhibitions from 24 innovation enterprises and key units, showcasing innovations in fields such as new-generation information technology, artificial intelligence, low-altitude economy, and intelligent equipment [1] - A special session for project negotiations featured overseas talents from 78 top global universities, including Oxford, Yale, and Imperial College, who presented their projects for collaboration with Qingdao's research institutions and enterprises [1]

供给侧的产能出清为行业回暖注入动力。历经前几年的大面积亏损，大量中小产能及低质产能退出，诸 多跨界玩家终止项目投资，行业扩产渐趋理性，供需大幅改善，部分材料有效产能呈现紧平衡状态。随 着锂电产业行业集中度快速提升，头部企业对产能扩张已形成一定共识，后续供给释放将更加有序可 控。 锂电产业发展将逐步走出同质化竞争。 三季度以来，锂电产业链各环节迎来全面复苏，价格企稳、大单频现、业绩增长，行业景气度显著提 升。其中，六氟磷酸锂作为涨价急先锋，价格在一个月内实现翻倍。 综合来看，当前锂电市场回暖，是需求、技术与政策多轮驱动的结果。 需求端的爆发式增长为产业链复苏筑牢根基。在新能源汽车领域，据中国汽车动力电池产业创新联盟数 据，今年1至10月，国内动力电池装车量为578GWh，同比增长42.4%；储能增速更为可观，据ICC鑫椤 储能数据库统计，2025年1至9月，全球储能电池出货428GWh，同比增长90.7%。除此之外，低空经 济、人形机器人等新兴场景的应用兴起，为锂电产业开辟了第二增长曲线。 技术的持续迭代让行业发展行稳致远。现阶段，新能源产业市场化驱动成为主流，下游对锂电产品的关 注焦点从"能用"转向"好用"" ...

Group 1 - "AI talent" Luo Fuli announced joining Xiaomi, previously rumored that Lei Jun offered a salary of tens of millions to recruit her for AI large model research [2][3] - Luo Fuli has a background in computer science from Beijing Normal University and has worked at Alibaba and DeepSeek, focusing on deep learning [2][3] - Xiaomi reported a total payment amount exceeding 29 billion yuan during the Double 11 shopping festival [6][11] Group 2 - UGG's new long-haired snow boots priced at 2799 yuan have sparked discussions for resembling Disney character "Ling Na Bei Er" [5] - The People's Daily exposed scams targeting the elderly under the guise of AI training, highlighting the need for awareness [6] - The first electric vertical take-off and landing flying car factory has entered trial production in Guangzhou, marking a significant step in low-altitude economy [8][9] Group 3 - Tencent Music reported third-quarter revenue of 8.46 billion yuan, a year-on-year increase of 20.6% [22] - Xinhua Insurance's premium income for the first ten months reached 181.973 billion yuan, up 17% year-on-year [24] - Nidec's third-quarter revenue was 2.06 trillion yen, with a net profit of 576.7 billion yen [25]

证券时报记者 叶玲珍 三季度以来，锂电产业链各环节迎来全面复苏，价格企稳、大单频现、业绩增长，行业景气度显著提 升。其中，六氟磷酸锂作为涨价急先锋，价格在一个月内实现翻倍。 综合来看，当前锂电市场回暖，是需求、技术与政策多轮驱动的结果。 供给侧的产能出清为行业回暖注入动力。历经前几年的大面积亏损，大量中小产能及低质产能退出，诸 多跨界玩家终止项目投资，行业扩产渐趋理性，供需大幅改善，部分材料有效产能呈现紧平衡状态。随 着锂电产业行业集中度快速提升，头部企业对产能扩张已形成一定共识，后续供给释放将更加有序可 控。 技术的持续迭代让行业发展行稳致远。现阶段，新能源产业市场化驱动成为主流，下游对锂电产品的关 注焦点从"能用"转向"好用""耐用"，产业链的竞争维度不再局限于价格，而是升级为全生命周期的综合 价值博弈。在产品端，宁德时代、比亚迪、亿纬锂能、国轩高科等头部电池厂商加速推出差异化明星单 品；磷酸铁锂厂商纷纷押注高压实密度、长循环系列产品；负极厂商加码快充、硅碳负极领域布局；电 解液厂商则积极发掘新型锂盐、新型添加剂等的利用价值。 责任编辑：屠欣怡 需求端的爆发式增长为产业链复苏筑牢根基。在新能源汽车领域，据 ...

Core Insights - The Chinese civil helicopter fleet is projected to exceed 2000 units by 2034, with a growth to 1403 units expected by the end of 2024, marking a 2.3% increase from the previous year [2][4] - The AG600 "Kunlong," a large amphibious aircraft, showcases the advancements in China's helicopter industry, emphasizing its capabilities in emergency response and firefighting [1][2] - The development of the helicopter industry is seen as a key driver for the low-altitude economy, with potential applications in various sectors including emergency rescue, medical transport, and entertainment [2][4] Industry Developments - The seventh China Tianjin International Helicopter Expo highlighted numerous new military and civilian helicopters, unmanned aerial vehicles, and aviation components, showcasing the progress in the helicopter sector [1] - The Chinese aviation industry is focusing on creating a world-class helicopter enterprise, optimizing equipment systems, and enhancing emergency rescue capabilities [2] - The FWH-3000 unmanned helicopter, capable of carrying significant payloads and operating in various environments, represents the advancements in autonomous aerial technology [3] Strategic Recommendations - There is a need to build a collaborative task system integrating manned and unmanned aircraft to enhance efficiency in complex scenarios like emergency rescue [4] - Expanding into consumer markets such as medical rescue and leisure flying is recommended to lower barriers to entry and make aviation technology more accessible [4] - Encouraging collaboration among operational companies, manufacturers, and research institutions is essential for fostering innovation and integrating technology with practical applications [4]