以下文章来源于超越 J Curve ，作者超越J曲线 超越 J Curve . 用数据延伸你的阅读 将投中网设为"星标⭐"，第一时间收获最新推送 本期带来2025年5月VC/PE市场报告。市场环比小落、同比再增，浙苏粤募资持续领跑，苏粤沪投 资合计占比近五成。 作者丨 投中研究院 来源丨 超越 J Curve 核心发现 基金数量环比减少12%，同比再增10%； 浙苏粤新设基金再领跑，青岛、嘉兴地区最活跃； 第一部分 VC/PE市场募资分析 5月新基金环比回落，同比持续上升 2025年5月，中国VCPE市场新成立基金数量共计 490支 ，较上月减少 69支 ，环比减少 12% 。 和去年同期相比增加 45支 ，同比增加 10% 。 本期共有 418家 机构参与设立基金，其中 90% 的机构成立1支基金， 6.5% 的机构完成2支基金 新设， 3.5% 的机构完成3支及以上基金新设。去年同期，成立两支及以上机构占比为 10.1% ，机 构活跃度同比较为稳定。 投资市场环比小幅回落 ，规模同比增加47%； 江苏、广东和上海三地融资规模及数量合计占比近五成； 半导体、人工智能、新材料项目最受追捧，电池与储能技术、生物 ...

证 券 研 究 报 告 能源周报（20250609-20250615） 推荐（维持） 以色列伊朗冲突爆发，本周油价上涨 行业研究 基础化工 2025 年 06 月 16 日 华创证券研究所 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 489 | 0.06 | | 总市值(亿元) | 43,288.83 | 4.29 | | 流通市值(亿元) | 38,356.81 | 4.83 | 相对指数表现 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | 1.1% | -1.8% | 10.2% | | 相对表现 | 1.9% | -0.0% | 0.6% | -16% -5% 6% 17% 24/06 24/08 24/11 25/01 25/04 25/06 2024-06-17~2025-06-13 基础化工 沪深300 相关研究报告 证券分析师：杨晖 邮箱：yanghui@hcyjs.com 执业编号：S0360522050001 证券分析师：吴宇 邮箱：wuyu1@hcyjs.com 执业 ...

6月13日，湖南省发展和改革委员会印发《湖南省氢能产业发展三年行动方案》。到2027 年，全省氢能产业发展取得明显进展，氢能制储运加用全链条关键材料和设备加快突破，在交 通运输、氢储能、氢冶炼、氢化工等部分领域实现规模应用，市场机制和管理机制更加健全， 集聚具有全国影响力的骨干企业10家左右，氢能关键材料部分领域产业规模全国领先，氢能 装备市场占有率位居全国前列，特色氢能产业集群初步形成，"一港两廊多区"发展格局初步构 建。 空间布局上，湖南省将打造一个氢能绿港，构建两条示范走廊，建设若干应用示范区。其中， 在构建两条示范走廊方面，以京广、沪昆等湖南境内高速路段为中心，加快布局加氢设施，构 建以高压气运为主导的氢能运输网络，逐步探索氢能在大中型货车、冷链物流等车型的应用示 范，打造两大氢能应用示范走廊。 全文内容如下： 湖南省氢能产业发展三年行动方案 为推动实现碳达峰、碳中和，构建清洁低碳、安全高效的能源体系，加快培育发展新质生产 力，根据《氢能产业发展中长期规划（2021—2035年）》《湖南省氢能产业发展规划》，制 定本行动方案。 一、行动目标 以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大 ...

缝集成，推动储能系统在热管理、电池均衡及故障预警等关键技术领域的突破，共同打造覆盖从户用到 工商业全场景的智慧能源解决方案，为全球能源转型与碳中和目标注入关键动能。 | -广告 | | --- | 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤储能 资讯~ 6 月 11 日，上海国际光伏储能展会期间，广州三晶电气股份有限公司（简称：三晶电气）与亿纬锂能 （ 300014 ）正式签署战略合作协议， 双方就储能电芯达成规模 2GWh 的项目合作意向， 此次合作 标志着双方在储能领域的技术创新与产业协同迈入全新阶段。 据介绍，此次合作通过整合三晶电气在储能系统集成领域的核心优势与亿纬锂能在储能电池研发的领先 技术，亿纬锂能的高性能电池将广泛应用于三晶电气的储能产品中，确保电池与三晶电气储能系统的无 在全球化浪潮下，亿纬锂能秉持开放合作精神，致力于在全球范围内建立稳固的合作伙伴关系。展会 上， 除了 三晶电气 ， 亿纬锂能 还 与 AKSA 、采日能源、洛希能源、固德威等国内外新能源领军企 业达成合作 。 ——The End—— 本文来源：储能前沿 。 本公众号所发表内容注明来源的，版 ...

Core Viewpoint - The Chinese government has approved the "Manufacturing Green Low-Carbon Development Action Plan (2025-2027)", emphasizing the necessity of advancing green low-carbon development in the manufacturing sector as a strategic imperative for global economic transformation and industrial competitiveness [1] Group 1: Achievements in Green Manufacturing - The supply capacity of green products in China's manufacturing sector has steadily improved, with green factories expected to account for over 20% of total manufacturing output by 2024, and energy and water consumption reaching advanced industry levels [2] - In 2024, China's production and sales of new energy vehicles reached 12.888 million and 12.866 million units, respectively, maintaining a global leadership position [2] - The photovoltaic industry has seen significant growth, with exports of photovoltaic cells and components increasing by over 40% and 12%, respectively, contributing to the ongoing optimization of the industrial structure towards green low-carbon [2] Group 2: Promotion of Green Low-Carbon Technologies - In 2024, China published the "National Energy-Saving and Carbon Reduction Technology Equipment Recommendation Directory", which includes technologies for energy-saving and carbon reduction across various industrial sectors [3] - A total of 47 advanced green low-carbon technology demonstration projects were selected, focusing on carbon reduction at various stages, providing practical examples for promoting green low-carbon technologies [3] - The establishment of a green manufacturing supply chain system is underway, with 1,382 new national green factories and 123 green industrial parks cultivated in 2024 [3] Group 3: Challenges in Green Manufacturing Development - Core technology innovation in green manufacturing remains insufficient, with challenges in high-end equipment development and reliance on foreign technologies, leading to risks in the supply chain [4] - Small and medium-sized enterprises (SMEs) face slow green transformation due to limited resources and high financing costs, hindering their ability to invest in green technologies [5] - There is a significant regional imbalance in green manufacturing development, with eastern regions outperforming western regions in terms of technology and resource utilization [6] Group 4: Strategic Recommendations for Green Manufacturing - A comprehensive top-level design for green manufacturing development is needed, including financial and policy support to lower financing barriers for SMEs [7] - Establishing a green low-carbon technology innovation system is crucial, focusing on key areas and promoting collaboration between industry and academia to enhance technology transfer [8] - Developing green low-carbon industrial clusters by leveraging the strengths of eastern and western regions can help balance regional development and enhance overall competitiveness [8]

Core Viewpoint - The Chinese lubricating oil industry is guided by a series of government policies aimed at promoting high-end lubricating oil development and large-scale industrial growth, with a focus on green development and resource recycling. Policy History - The policy history indicates a continuous effort to guide the lubricating oil industry, emphasizing the development of synthetic base oils and recycling technologies during the "12th Five-Year Plan" period, encouraging low-temperature Fischer-Tropsch synthesis oil production during the "13th Five-Year Plan," and promoting high-quality development of the petrochemical industry in the "14th Five-Year Plan" [1]. National Policy Summary and Interpretation - The management of the lubricating oil industry is primarily reflected in the formulation of industrial policies, strategic planning, and optimization of the development environment, focusing on green development and supporting business operations [4]. Policy Details - A summary of key policies includes: - **2024.11**: Encouragement for high-end chemical manufacturing [5] - **2024.09**: Guidelines for agricultural machinery maintenance [5] - **2024.05**: Suspension of certain tariff reductions on lubricating oil products from Taiwan [5] - **2023.10**: Guidance on promoting green innovation in the refining industry [5] - **2022.08**: Establishment of a carbon emission accounting system [6] - **2021.11**: Promotion of clean production audits across various industries [6] Provincial Policy Summary - Various provinces are focusing on high-end lubricating oil development, with some also promoting high-end lubricating oil additives and foundational industries to enhance the entire lubricating oil supply chain towards high-end and green development [13]. Industrial Green Development Planning - The "14th Five-Year Plan for Industrial Green Development" aims for a 13.5% reduction in energy consumption per unit of industrial added value by 2025, with significant improvements in resource utilization and pollution reduction [10][11]. Energy Efficiency Standards - The 2023 version of the energy efficiency benchmark levels expands the scope of energy efficiency constraints, adding 11 new sectors, including the petrochemical industry, which accounts for approximately 80% of the total energy consumption in the industry [9]. Conclusion - The policies and plans outlined reflect a comprehensive approach to enhancing the lubricating oil industry in China, focusing on sustainability, innovation, and high-quality development, which are crucial for future growth and competitiveness in the global market [12][13].

Exhibition Overview - The 2025 Korea International Steel, Pipe, and Nonferrous Metals Exhibition will be held from November 19 to 21, 2025, at the Daegu Exhibition Center in South Korea [1] - Organized by The Fairs, this biennial event is recognized as the most authoritative exhibition in the steel, pipe, and nonferrous metals industry in Korea [1][2] - Beijing Lianhua Shanhui International Exhibition Service Co., Ltd. is designated as the official agent for the exhibition in China, responsible for promotion and sales [2] Market Overview - South Korea is the fourth largest economy in Asia and the thirteenth largest in the world, with a GDP of approximately $1.87 trillion in 2023, where the industrial sector accounts for 28.1% [3] - The country ranks as the fourth largest mold producer, fifth in automation products, and seventh in machine tools, holding a significant position in metal and steel production [3] - South Korea's manufacturing and service sectors are well-developed, with shipbuilding, automotive, electronics, steel, and textiles among the top ten globally [3] Industry Development - Over the past decade, the machinery industry has been a key driver of South Korea's rapid economic growth, with major companies like POSCO and Hyundai Steel leading the steel sector [4] - South Korea is emerging as a core country for future industries such as mobile communication, batteries, and hydrogen, supported by government initiatives aimed at achieving carbon neutrality by 2050 [4] - The government plans to invest 1 trillion KRW by 2030 to enhance R&D, further solidifying the core position of the steel and nonferrous metals industries [4] Trade Relations - Since the establishment of diplomatic relations between China and South Korea in 1992, trade has significantly increased from $5.028 billion to $362.351 billion in 2021, a 72-fold growth [5] - China is currently South Korea's largest trading partner, while South Korea ranks as China's third-largest trading partner [5] - In the first nine months of 2024, trade between China and South Korea reached $240.04 billion, a year-on-year increase of 4.5% [5] Exhibition Scope - The exhibition will feature a wide range of products including various steel products, production technologies and equipment, raw materials, metal processing technologies, environmental technologies, refractory materials, and metal materials [6] - Specific categories include steel pipes, plates, wires, special steels, and advanced materials such as high-strength aluminum and lithium [6]

内容概况： ◆报告亮点 本报告预测性、适时性地对腐殖酸行业的发展背景、供需情况、市场规模、竞争格局等行业现状进行分析，并结合多年来腐殖酸行业发展轨迹及实践经验， 对腐殖酸行业未来的发展预测做出审慎分析与预测；是腐殖酸行业相关企业及资本机构准确了解当前腐殖酸行业最新发展动态，把握市场机会，提高企业经 营效率，作出正确经营决策和投资决策的不可多得的精品！ "十三五"期间，我国重点开展"土壤、水和大气污染防治"三大任务攻坚战，为腐植酸环境友好产业乘势而上提供了重要发展机遇。2021年，习近平总书记在 中央财经委员会第九次会议上强调："实现碳达峰、碳中和是一场广泛而深刻的经济社会系统性变革，要把碳达峰、碳中和纳入生态文明建设整体布局"。腐 殖酸的物质属性决定了其在碳循环和土壤固碳中的重要作用，而它广泛的应用领域也在我国社会和经济发展的55个应用领域发挥着重要作用，行业前景光 明。预测，至2027年中国腐殖酸市场规模有望超过7700万美元，年均复合增长率实现6%。 报告目录： 第一章、腐殖酸行业综述及数据来源说明 第一节、腐殖酸行业定义 ◆报告核心价值 一、中国腐殖酸生产工艺流程图解 二、中国腐殖酸行业关键技术分析 三 ...

交易咨询业务资格：证监许可【2012】1091号 沪铝周报（6.9~6.13） 大越期货投资咨询部:祝森林 从业资格证号：F3023048 投资咨询证号：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 目录 一、行情回顾 二、基本面（库存结构） 三、市场结构 上周回顾 沪铝周评： 沪铝上周震荡上行，上周主力合约收涨1.84%，周五收盘报20440元/吨。在碳中和下长期控制产能，国 内房地产压制需求不振，取消对铝材出口退税，对于国内铝价构成利空，中美关税确定性仍存。国内 基本面上，需求进入淡季，等待消费复苏。上周LME库存353225吨，较前周出现小幅减少，SHFE周库存 减8164吨至110001吨。 期货主力 数据来源：博易大师 基本面 1、供需平衡表 2、铝 3、铝土矿 4、氧化铝 5、铝棒 供需平衡 数据来源：Wind 供需平衡 | | | | 中国年度供需平衡表 铝(万吨) | | | | --- | --- ...

沪铝早报- 交易咨询业务资格：证监许可【2012】1091号 大越期货投资咨询部 ：祝森林 从业资格证号：F3023048 投资咨询证号：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 每日观点 铝: 1、基本面：碳中和控制产能扩张，下游需求不强劲，房地产延续疲软，宏观短期情绪多变；中性。 2、基差：现货20710，基差270，升水期货，偏多。 3、库存：上期所铝库存较上周减8164吨至110001吨；中性。 4、盘面：收盘价收于20均线上，20均线向上运行；偏多。 5、主力持仓：主力净持仓空，空减；偏空。 6、预期：碳中和催发铝行业变革，长期利多铝价，多空交织，铝价震荡运行。 近期利多利空分析 利多： 降息和需求疲软博弈 1、碳中和控制产能扩张。 2、俄乌地缘政治扰动，影响俄铝供应。 3、降息 1、全球经济并不乐观，高铝价会压制下游消费。 2、铝材出口退税取消 每日汇总 | 现货 昨日现货 | 地方 地方 上海 昨日 ...