新华社北京11月30日电 题：织起全国一张网，看算力普惠按下"加速键" 新华社记者温竞华、周圆 在湖南汇视威智能科技有限公司，"95后"创业者顾善植正带领团队加班加点，迭代升级自主研发的"橘 洲"大模型。依托国家超算互联网的强大算力支持，该大模型高效完成了4000万张图片的训练，性能快 速提升。 山东汇聚融合全省16地市及周边省份算力资源，入网算力中心资源利用率平均提升40%，赋能1000多个 应用场景；贵州创新发放"算力券"，为企业提供多样化激励，降低用户用算成本；江苏打造智算算力网 AI开发平台，统筹纳管异构异属异域的智算资源，实现全局能用、好用…… 当前，我国算力资源布局进一步优化，算力基础设施已初步形成枢纽节点、区域中心、本地边缘梯次化 布局架构。《2025运力发展报告》显示，我国已初步形成1ms时延城市算力网、5ms时延区域算力网、 20ms时延跨国家枢纽节点算力网。 "十五五"规划建议提出，"适度超前建设新型基础设施，推进信息通信网络、全国一体化算力网、重大 科技基础设施等建设和集约高效利用""强化算力、算法、数据等高效供给"。 中国信息通信研究院副院长魏亮认为，我国算力领域已取得显著进展，算力产 ...

Core Insights - The cultural industry in Guangdong is experiencing significant growth, with operational performances indicating a total of 35,600 events and revenue of 6.356 billion yuan in the first three quarters of the year, leading the nation in concert economy [2] - The Guangdong-Hong Kong-Macao Greater Bay Area Cultural Industry Investment Conference has evolved into a platform that connects quality cultural projects with investment institutions, emphasizing the integration of culture and technology, particularly AI [2][3] Group 1: Industry Growth and Investment - The conference attracted over 330 cultural enterprises and more than 120 investment institutions, highlighting the increasing interest in the intersection of culture and technology, especially AI [3] - The "14th Five-Year Plan" emphasizes the acceleration of cultural industry development and the integration of culture and technology, aiming for a digital transformation [3][10] - From 2020 to October 2025, the Greater Bay Area is expected to generate approximately 564.1 billion yuan in financing events, with a focus on cultural technology integration and digital creative production [6] Group 2: Technological Integration - The "AI+" model is rapidly transforming the cultural industry landscape, with significant advancements in digital technology enhancing the value chain of cultural heritage [5][7] - Guangdong has seen over 800,000 digital technology invention patent applications in the past five years, with AI patents exceeding 100,000, indicating a strong technological foundation [5] - The digital cultural core enterprises are projected to generate over 200 billion yuan in profits in 2024, accounting for 84% of the total profits in the cultural industry [6] Group 3: Future Opportunities - The cultural industry is recognized as a major growth engine, with opportunities arising from the deep integration of digital technologies such as AI, AR, VR, and NFTs [7] - The Guangdong government has introduced a comprehensive policy package aimed at fostering high-quality development in the cultural sector, covering various fields including film, performing arts, and gaming [8] - The establishment of the "China Computing Network" is expected to revolutionize the creation, production, dissemination, and consumption of cultural content, making advanced computing resources more accessible to smaller cultural enterprises [11]

Group 1 - The "Zhuque-3" rocket is set to make its maiden flight in mid to late November, potentially becoming China's first operational reusable launch vehicle [1] - Beijing plans to construct a large centralized data center system with over 1 GW power capacity in the 700-800 km twilight orbit to facilitate large-scale AI computing in space [1] - As of November 28, 2025, the CSI Defense Index (399973) has risen by 0.36%, with notable increases in constituent stocks such as KST (688568) up 4.50% and Triangle Defense (300775) up 2.98% [1] Group 2 - The CSI Defense Index closely tracks the performance of listed companies under the top ten military industrial groups, reflecting the overall performance of defense industry stocks [2] - As of October 31, 2025, the top ten weighted stocks in the CSI Defense Index include AVIC Shenyang Aircraft (600760) and Aero Engine Corporation of China (600893), collectively accounting for 44.41% of the index [2]

Core Insights - Guangdong's cultural industry is experiencing significant growth, with operational performances in the first three quarters of the year showing 35,600 events and total revenue of 6.356 billion yuan, leading the nation [2][3] - The Guangdong-Hong Kong-Macao Greater Bay Area Cultural Industry Investment Conference has evolved into a platform for connecting quality cultural projects with investment institutions, emphasizing the integration of technology, particularly AI, into the cultural sector [3][4] Industry Performance - The cultural industry in Guangdong is transitioning from quantitative to qualitative growth, with a notable increase in top-tier esports events by 300% and the emergence of the ultra-high-definition video industry as a potential 1 trillion yuan industry cluster [2][3] - The conference attracted over 330 cultural enterprises and more than 120 investment institutions, highlighting the growing interest in AI and other emerging technologies within the cultural sector [3][4] Technological Integration - The integration of AI and digital technologies is reshaping the cultural landscape, with significant advancements in areas such as VR and immersive experiences, as demonstrated by innovative projects like the "Little West Heaven" VR exhibition [5][6] - Guangdong has seen over 800,000 digital technology invention patent applications in the past five years, with AI patents exceeding 100,000, indicating a robust technological foundation for future growth [7][8] Investment Trends - From 2020 to October 2025, the Greater Bay Area's cultural industry is projected to generate approximately 564.1 billion yuan in financing events, with a focus on cultural technology integration and new cultural consumption models [8][9] - The cultural industry is recognized as a major growth engine, with significant investment opportunities arising from the fusion of culture and technology, including AI, AR, and VR [8][9] Policy Support - Guangdong's recent policy package for high-quality cultural development includes 87 measures across six key areas, positioning the region as a hub for new technologies and cultural experiences [9][10] - The "14th Five-Year Plan" emphasizes accelerating the development of the cultural industry, promoting the integration of culture and technology, and fostering new cultural business models [10][11] Future Outlook - The construction of a national computing network is expected to revolutionize the creation, production, dissemination, and consumption of cultural content, providing new opportunities for high-quality development in the cultural sector [11][12] - The next five years will see an influx of technological and financial resources into the cultural industry, enhancing its role within Guangdong's economic landscape [13]

Core Insights - Computing power has become the core "new productive force" in the digital economy era, driving the development of advanced technologies [1][3] - The computing power industry needs to focus on the collaborative advancement of construction, application, and ecology to build a "three-dimensional computing" system, avoiding redundant construction and resource waste [1] Industry Developments - With the arrival of the artificial intelligence era, computing power is deeply integrated into daily life, supporting various applications from mobile usage to online browsing and gaming [3] - The company has established one of the earliest high-standard intelligent computing centers in Changsha, which provides a controllable computing foundation for local AI applications and ensures the stable operation of domestic AI software [3] - The introduction of super-node technology will help overcome performance bottlenecks in key industrial software, promoting continuous technological iteration and application deepening [3] Company Initiatives - The company is leveraging Changsha's talent advantages and comprehensive competitiveness to support breakthroughs in the world's first single cabinet-level 640-card super-node system, scaleX640 [3] - Future applications of next-generation AI technology will focus on the industrial sector, with the company aiming to provide robust technical support for high-end manufacturing by utilizing Changsha's rich application scenarios [3]

Group 1: Investor Relations Activities - The company participated in the 2025 Annual Shenzhen Listed Companies Investor Online Reception Day on November 20, 2025, from 14:30 to 17:00 [2] - The event was conducted via the "Investor Relations Interactive Platform" [2] - Key company representatives included the General Manager, CFO, Board Secretary, and an Independent Director [2] Group 2: Strategic Initiatives - The company has launched a 2025 equity incentive plan aligned with its transformation strategy, focusing on emerging sectors such as computing power, AI, cultural technology, and low-altitude economy [2] - The company aims to enhance its market value through diversified investments and mergers and acquisitions, while maintaining transparency in information disclosure [2][3] Group 3: Financing Plans - The company has developed a four-pronged strategic plan focusing on new infrastructure, new government-enterprise collaborations, new business models, and new cultural initiatives [3] - Future financing plans will be disclosed in accordance with regulations, ensuring alignment with the company's strategic positioning and business framework [3] Group 4: Disclosure of Information - The company confirmed that there are no undisclosed significant information [3]

Core Insights - The 20th Central Committee's Fourth Plenary Session emphasizes accelerating innovation in artificial intelligence and digital technologies, highlighting the importance of computing power as a new productive force in the digital economy [1] - The development of a computing power industry system is crucial for advancing digital industrialization and fostering new industries and business models, which will support the modernization of China [1] Group 1: Current State of Computing Power Industry - China's computing power has seen rapid growth, with a notable emphasis on green and low-carbon characteristics in the industry [1] - Despite growth, challenges such as resource dispersion and low utilization rates persist, hindering the vitality of the computing power industry [2] - The lack of clear standards and legal frameworks for computing power construction is a barrier to high-quality development in the sector [2] Group 2: Strategic Recommendations - It is recommended to enhance the construction of computing power centers and optimize the supply structure to match regional development strategies effectively [2] - Encouragement of core technology breakthroughs is essential to improve the self-supply capability of computing power, focusing on high-end chips and algorithm development [3] - Establishing technical standards and regulations is necessary to ensure the legality and compliance of computing power services, guiding infrastructure development and market operations [4]

New Stock Offerings - Jingchuang Electric (920035) has an issuance price of 12.10, with a P/E ratio of 13.47, and a market cap of 700 million. The company specializes in cold chain intelligent control and monitoring IC products, primarily used in HVAC/R, pharmaceuticals, food, and environmental detection [1] - Nanguang Digital (301638) has an issuance price of 5.69, with a P/E ratio of 32.22, and a market cap of 18.09 billion. The company provides digital construction solutions for the power energy sector, focusing on building a world-class digital and intelligent innovation platform for power grids [1] - Beikang Testing (920160) has an issuance price of 6.70, with a P/E ratio of 14.99, and a market cap of 759 million. The company is engaged in the inspection and testing technology research and services for non-ferrous metal mineral resources [1] Macroeconomic News - From January to October, China's general public budget revenue reached 186.49 billion, a year-on-year increase of 0.8%. The stamp duty revenue was 37.81 billion, with a significant year-on-year growth of 29.5%, and the securities transaction stamp duty revenue was 16.29 billion, up 88.1% year-on-year [2] - In October, the average commission rate for A-shares in Shanghai fell to 0.00192, down from 0.00197 in September, marking a continuous decline below 0.002 for two months [5] Industry News - In November, domestic polysilicon production is expected to approach 120,000 tons, significantly decreasing from October due to production halts in the Sichuan and Yunnan regions. Component production is also expected to decline, but the overall transaction recovery will mitigate the extent of the decrease [5] - The China Association of Automobile Manufacturers reported that in October 2025, new energy vehicle exports reached 256,000 units, a month-on-month increase of 15.4% and a year-on-year increase of 99.9%. From January to October, exports totaled 2.014 million units, up 90.4% year-on-year [7] Company News - CATL announced an inquiry transfer price of 376.12 yuan per share, reflecting a 3.8% discount from the previous closing price [8] - Xpeng Motors reported third-quarter revenue of 20.38 billion, a year-on-year increase of 102%, with an adjusted loss per share of 0.080 yuan. The company expects fourth-quarter revenue to be between 21 billion and 23 billion [8]

早 报 精 选 4、中芯国际：公司承接了大量模拟、存储、MCU等急单，目前存储行业供应存在缺口预计高价位态势将持续。 5、宁德时代第三大股东黄世霖本次询价转让价格为376.12元/股，较昨日收盘价折价3.8%。 宏 观 新 闻 1、 2025年11月17日，中国国务院副总理何立峰与德国副总理兼财政部部长克林拜尔在北京共同主持第四次中德高级别财金对话。 声明中提到，双方欢迎符合条件的上海证券交易所、深圳证券交易所上市公司在法兰克福证券交易所发行全球存托凭证。声明还提 到，双方支持加强在证券、期货及衍生品领域的交流合作。 2、日前，个别日本政客称中方对高市早苗涉台错误言论"反应过度"。日本内阁官房长官也辩称，日本政府在台湾问题上的立场没有 改变，与1972年《中日联合声明》一致。对此，外交部发言人毛宁表示，中方敦促日方本着对历史和双边关系负责的态度，停止越 线玩火，收回错误言行，切实把对华承诺体现在实际行动上。 3、据《金融时报》报道，美国白宫国家安全备忘录以及相关声明称，阿里巴巴集团向中国军方提供了针对美国目标的技术支持。外 交部发言人毛宁在昨日的例行记者会上表示，有关企业已经作出了回应。中国政府高度重视并依法 ...

Group 1 - The mechanical industry showed a strong performance in 2025, with a cumulative increase of 35.07%, outperforming the Shanghai and Shenzhen 300 index (17.94%) and the Shanghai Composite Index (17.99%) [1][17][21] - Emerging sectors such as AI equipment (140%), lithium battery equipment (96%), humanoid robots (67%), and engineering machinery (55%) led the gains in the mechanical industry, indicating significant investment opportunities [1][27][25] - The outlook for 2026 suggests continued growth in AI and technology sectors, with engineering machinery expected to maintain an upward trend and domestic demand gradually recovering from the bottom [1][30][39] Group 2 - Domestic economic conditions are currently experiencing a "weak recovery" phase, with fixed asset investment showing a differentiated pattern: manufacturing > infrastructure > real estate [2][30] - The general manufacturing sector is expected to enter a new investment cycle, driven by improved PPI and inventory levels, with a focus on high-end upgrades and stock replacement [39][46] - The export sector is benefiting from the competitive strength of leading Chinese companies, with a notable increase in orders for high-end machinery from Japan, reflecting the active investment in domestic high-end manufacturing [55][56] Group 3 - The AI-driven technology sector is expected to continue its upward trend, with hardware demand and new process iterations accelerating, particularly in AI PCB technology and humanoid robots [3][30][61] - Solid-state battery technology is at a critical juncture, with leading battery companies expanding production capacity, indicating a significant opportunity for battery equipment manufacturers [3][30][61] - Investment recommendations include focusing on technology growth assets such as AI PCB equipment, humanoid robots, and solid-state battery equipment, as well as engineering machinery and general automation sectors [4][61]