Group 1 - The financial system is urged to effectively implement key financial work for 2026, focusing on risk prevention, strong regulation, and promoting high-quality development [1] - In 2025, China's economic indicators are expected to perform better than anticipated, with the total economic output projected to reach approximately 140 trillion yuan [2] - The central government plans to introduce incremental policies in 2026 based on changing circumstances to stabilize and improve the economy [2] Group 2 - The central economic work conference emphasized the importance of expanding domestic demand and optimizing supply, with a focus on building a strong domestic market [3] - The People's Bank of China will conduct a 600 billion yuan reverse repurchase operation on December 15 to maintain liquidity in the banking system [3] Group 3 - The Ministry of Industry and Information Technology, along with other departments, will optimize the import and export supervision measures for lithium thionyl chloride batteries starting January 1, 2026 [5] - The National Medical Insurance Administration aims to achieve "no out-of-pocket" expenses for childbirth within the policy scope nationwide by 2026 [6] Group 4 - Moller Thread stated that the management of idle fundraising will not affect the implementation of fundraising projects, emphasizing a clear plan for the use of raised funds [7] - Kweichow Moutai plans to focus on three core products in 2026, with a strategy to stabilize the market by halting the issuance of unplanned quotas for the current year [8] Group 5 - Chip Origin Technology announced the termination of the acquisition of a 97% stake in Chip Lai Zhiyuan due to discrepancies in key demands and market conditions [9] - Renfu Pharmaceutical will face risk warnings due to false financial disclosures, leading to a change in its stock name to ST Renfu [10][11] Group 6 - Enjie Co., Ltd. plans to acquire 100% of Zhongke Hualian's shares and will resume trading on December 15 [12] - The U.S. has unified AI regulatory rules at the federal level to facilitate innovation without excessive state-level regulations [13]

来源：中国银河策略 本周A股行情：（1）本周（12月8日-12月12日），A股市场呈现震荡分化行情，全A指数上涨0.26%。 北证50和创业板指涨幅靠前，分别涨2.79%和2.74%，科创50、深证成指和中证1000也录得上涨。而上 证指数、上证50和沪深300小幅回调。（2）从风格来看，本周小盘风格相对占优，中证1000（0.39%） 表现优于沪深300（-0.08%）；五大风格指数中，成长风格涨1.67%，而消费风格和稳定风格跌超1%。 （3）从行业来看，一级行业跌多涨少。涨幅靠前的三个行业分别为通信、国防军工、电子，涨幅分别 为6.27%、2.80%、2.63%。煤炭、石油石化、钢铁等跌幅靠前。 核心观点 本周资金流向：（1）A股市场交投活跃度回暖。本周日均成交额为19530亿元，较上周上升2568.66亿 元；日均换手率为1.7345%，较上周上升0.12个百分点。（2）本周北向资金日均成交额为2324.71亿 元，较上周上升397.27亿元。截至周四，两融余额为25079.69亿元，较上周上升263.01亿元。（3）本周 新成立基金23只，发行份额为182.18亿份。其中，权益类基金共有13只，发行 ...

12月13日，中国华电集团有限公司四川分公司（以下简称"华电四川公司"）下属企业——四川凉山水洛 河电力开发有限公司"量子和后量子技术在水电集中监控系统关键技术研究"项目顺利通过阶段性评估， 标志着国内首个"量子水电站"工程在关键核心能力建设上取得阶段性重大进展，我国水电行业在前沿量 子技术融合应用方面实现新突破。 （文章来源：科技日报） 据悉，该项目坚持产学研用协同创新，由华电四川公司牵头，联合中国电信四川公司、中电信量子及国 电南自等单位共同开展关键技术攻关，选取四川凉山水洛河电力开发有限公司作为试点平台，率先推进 项目成果转化与应用，系统构建集自主可控、安全可靠于一体的新一代水电监控体系，全力打造国内首 个"量子水电站"工程，为我国能源安全与产业自主可控提供有力支撑。 为有效应对能源领域数字化转型进程中日益复杂的新型网络安全挑战，该项目团队积极探索前沿技术融 合路径，创新性地将量子通信及后量子密码技术引入水电核心监控系统，着力构建具备主动防御能力的 前瞻性安全架构，不仅为提升国家能源设施的安全可控水平提供了重要支撑，也为能源行业在高质量发 展进程中形成可复制、可推广的量子安全解决方案奠定了坚实基础。 四 ...

Group 1 - The 2025 Zhongguancun Quantum Conference was held in Beijing, focusing on breakthroughs in quantum technology, core technical challenges, application scenarios, and industrial ecosystem construction [1][3] - The conference showcased 16 quantum technology and industry achievements from Beijing, covering quantum computing, quantum precision measurement, and hardware-software collaboration, with several technologies reaching international leading levels [3] - The "Quantum + Energy" field was highlighted with five application scenarios, including quantum encryption communication and precise measurement monitoring, demonstrating the practical applications of quantum technology in energy systems [3] Group 2 - A new "Beijing Future Open Source Quantum Venture Capital Fund" was announced, with a scale of 500 million yuan, aimed at investing in early-stage and growth-stage hard tech companies in the quantum information field [3] - Strategic cooperation agreements were signed among key institutions to promote the deep integration of quantum technology in the energy sector, enhancing collaboration between research institutions, enterprises, and government [4] - Beijing's Haidian District has gathered over 50 quantum-related enterprises and research institutions, forming a complete industrial chain covering quantum computing, communication, and precision measurement [4]

Group 1 - The Beijing Future Open Source Quantum Venture Capital Fund has been established with a scale of 500 million yuan, focusing on investing in early-stage and growth-stage hard tech companies in the quantum information field [1] - The fund aims to provide comprehensive support from research and development to market through a model of "investment + services + collaboration" [1] - The conference attracted key enterprises in the quantum industry chain, including Weizhi Technology, Coherent Technology, and Kunmai Medical, highlighting the collaborative efforts of government, industry, academia, and finance [3] Group 2 - The Ministry of Science and Technology emphasized that quantum technology is at the forefront of a new round of technological revolution and industrial transformation, with China currently facing historic development opportunities in this field [3] - Beijing is leveraging its advantages in talent, research, and policy to create a high ground for quantum technology and industry innovation [3] - Haidian District has gathered over 50 enterprises and research institutions in the quantum field, forming a complete industrial chain covering quantum computing, quantum communication, and quantum precision measurement [4] Group 3 - A strategic cooperation agreement was signed between the Beijing Quantum Information Science Research Institute and several energy companies to promote the deep application of quantum technology in the energy sector [5] - The conference also facilitated the signing of agreements between the Zhongguancun Quantum Technology Incubator and various enterprises to accelerate local technology transfer and strengthen collaboration among research institutions, enterprises, and government [5]

合肥 "量子大道"上即将冲出第二个 IPO 。 这位 90 后中科大校友联合创立的国仪量子技术（合肥）股份有限公司（以下简称：国仪量子），日 前在上交所科创板 IPO 获受理，拟募资 11.69 亿元。 「IPO全观察」 栏目聚焦首次公开募股公司，报道企业家创业经历与成功故事，剖析公司商业模式 和经营业绩，并揭秘VC、CVC等各方资本力量对公司的投资加持。 作者丨巴里 编辑丨 关雎 图源丨摄图网 其背后，高瓴创投、 IDG 资本、科大讯飞等明星资本云集，公司估值已超过 10 亿美元，成为名副 其实的独角兽。 至此，它与比邻而居的国盾量子、本源量子，共同构成了中国量子科技的 "三剑客"，正以自主可控 的硬核技术，在全球量子科技竞争中展开集体冲锋。 国仪量子董事长贺羽，图源：合肥市广播电视台 几乎在同一时期，另一位青年 ——荣星，正在量子科研的道路上历经锤炼。 比贺羽年长近十岁的荣星，于 2001 年考入中国科学技术大学物理学院。 2005 年，读研一的他选择 科学仪器作为研究方向，开始了与量子的无限"纠缠"。 然而，等待他的是前所未有的挑战： "仪器功能受限、方案被反复推翻、实验结果不及预期……"在 当时国内该 ...

Group 1 - The "Zhongguancun Quantum Conference" successfully gathered nearly 800 experts and representatives from the quantum field, marking a significant step towards the industrialization of quantum technology in Beijing [1] - The conference announced 16 quantum technology achievements for 2025 and a 500 million yuan investment fund aimed at supporting quantum startups [1] - The event highlighted key areas such as theoretical breakthroughs, core technology challenges, application scenarios, and the construction of an industrial ecosystem [1] Group 2 - Haidian District is focusing on national strategic technology initiatives to support original breakthroughs in the quantum field, with over 50 quantum enterprises and research institutions established in the area [2] - The district aims to integrate AI with quantum technology, creating scalable application scenarios and enhancing the quantum innovation ecosystem [2] - The "Quantum Bay" industrial park will serve as a core platform for quantum industry development, supported by policies, funding, and talent cultivation [2] Group 3 - The "Beijing Future Open Source Quantum Entrepreneurship Investment Fund" was launched with a scale of 500 million yuan, targeting early-stage and growth-stage hard tech companies in the quantum information sector [3] - The fund aims to provide comprehensive support from research and development to market entry through a model of investment, services, and collaboration [3] - Prominent experts delivered keynote speeches analyzing global quantum technology trends and China's industrialization path, providing authoritative guidance for industry development [3]

Group 1 - The conference focused on the theme "Quantum Intelligence New Era, Future of Industrial Chain" and showcased 16 quantum technology achievements for 2025, a 500 million yuan investment fund, and five application scenarios in the "Quantum + Energy" field [1][2] - The 16 quantum technology achievements cover three main areas: quantum computing, quantum precision measurement, and hardware-software collaboration, with several technologies reaching international leading levels [1] - The "Beijing Future Open Source Quantum Venture Capital Fund" was established with a scale of 500 million yuan, aimed at investing in early-stage and growth-stage hard tech companies in the quantum information sector, providing comprehensive support from R&D to market [1] Group 2 - The conference was organized by the Zhongguancun Science City Management Committee and featured a three-dimensional approach with a main forum, sub-forums, and exhibitions to present the development trajectory of the industry [2] - Haidian District has gathered over 50 enterprises and research institutions in the quantum field, forming a complete industrial chain covering quantum computing, quantum communication, and quantum precision measurement [2]

0:00 新加坡国立大学商学院治理与永续发展研究所所长 卢耀群：尽管全球面临不确定性带来的逆风，但中国经济的表现依然十分出色，中国注重高质量发展， 推动经济向新向优转型，实现各领域稳定增长，为新一阶段的发展奠定了坚实基础，可以看到中国下一阶段发展的重点包括创新、科技、消费等，这将为中 国人民带来更高品质的生活，也有助于增进全球人民的福祉。 英国48家集团俱乐部主席 杰克·佩里：中国是可再生能源领域的引领者，大力发展风力发电、太阳能发电、并在氢能等领域积极投入，中国领导人目光长 远，表面看"十五五"规划是对未来五年的规划，事实上不止于此，中国着眼于更长远的未来，从中国对新能源、量子科技、人工智能等领域的重视可以看 出，中国对世界未来发展方向的敏锐洞察力。 国际人士指出，面对复杂的国际环境，中国坚持推进经济高质量发展表现出色，为世界经济注入宝贵的稳定性和确定性。 德国黑森州欧洲及国际事务司前司长 国际问题专家 博喜文：是的，我们已经看到中国在"十四五"时期实现显著的增长，完成了既定的目标，其主要推动力 来自于中国大力推进的高质量发展，这是非常具有前瞻性的，发展的势头也将延续到"十五五"期间。 国际人士表示，中国不 ...

12月8日，上交所官网显示，上海频准激光科技股份有限公司(简称"频准激光")科创板IPO获得受理，保 荐机构为中信建投证券股份有限公司。 招股书显示，公司主要面向量子计算、量子精密测量等量子科技领域，晶圆制造、晶圆量检测、晶圆隐 切等半导体领域，以及激光干涉曝光、激光遥感等前沿科研领域，发展了全新的精准激光技术路线，推 出波长、线宽、噪声、功率、脉冲等精准调控的激光器产品。 高毛利与低营收的"剪刀差" 据悉，公司主营业务收入主要为激光器产品的销售，占比均高于96%。 报告期内，公司营业收入分别为8042.91万元、1.48亿元、2.92亿元和1.80亿元，2022年~2024年复合增 长率为90.49%，频准激光称，公司营业收入规模快速提高，但目前整体规模仍相对较小，抵御风险能 力相对较弱。 目前，张磊合计控制公司62.04%股权，担任公司的董事长和总经理。 根据招股书，频准激光历史上曾经存在股权代持的情形。 2019年11月，公司股权转让过程中，由于潘伟巍在加拿大多伦多公派留学，不便回国办理工商变更程 序，由张磊代其持有股权，相关股权已于2021年3月还原至潘伟巍名下。 频准激光称，张磊与潘伟巍之间的代持关 ...