回复：在商业航天领域，液态氢作为高比冲、零碳排放的核心推进剂， 正随着可重复使用火箭、深空探测及太空加油等前沿任务的加速发展而迎 来增长机遇。 证券代码：300540 证券简称：蜀道装备 四川蜀道装备科技股份有限公司 投资者关系活动记录表 编号：2025-012 投资者关系 活动类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ☑ 现场参观 ☑ 电话会议 参与单位名称 及人员姓名 1、招商证券、四川发展证券基金 2、中邮证券、国泰基金、松熙资产 时间 2025年12月29日上午 10:00-12:00 2025年12月30日上午 10:00-11:00 地点 公司会议室 腾讯会议 上市公司接待 人员姓名 副总经理、董事会秘书 马继刚 董事会办公室副主任、证券事务代表 贾雪 证券事务代表 向星睿 投资者关系 活动主要内容 介绍 1、请问公司与日本丰田的合作模式及合资公司进展情况？ 回复：公司与日本丰田的合作主要通过双方共同设立的合资公司开 展。合作模式上日本丰田方主要提供核心技术支持，而公司则聚焦于本地 市场开发、供应链整合及商业化落地。技术研发方面，合资公司将组建独 立的 ...

（记者 王晓波） 每经AI快讯，博盈特焊（301468.SZ）12月30日在投资者互动平台表示，公司产品暂未应用于纯氢燃气 轮机。公司生产的HRSG作为燃气-蒸汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃 料的新型燃气轮机系统。公司已具备为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司 始终关注下游行业的技术进步，并将积极研究相关技术发展和市场需求。后续如涉及氢能等新应用领域 的重大业务进展，公司将根据相关规则及时履行信息披露义务。 ...

博盈特焊12月30日在互动平台表示，公司产品暂未应用于纯氢燃气轮机。公司生产的HRSG作为燃气-蒸 汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃料的新型燃气轮机系统。公司已具备 为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司始终关注下游行业的技术进步，并将 积极研究相关技术发展和市场需求。后续如涉及氢能等新应用领域的重大业务进展，公司将根相关规则 及时履行信息披露义务。 ...

证券日报网讯12月29日，林洋能源（601222）在互动平台回答投资者提问时表示，公司密切关注"低空 经济"与"氢能"两大国家战略交汇产生的历史性机遇。在战略层面，公司下属公司清耀新能源聚焦分布 式制氢装备、小容量制氢测试装备与工业耦合场景应用和制氢工艺撬块的研发，加速商业化落地，在氢 能技术验证与多元应用取得显著突破。同时，公司不断拓展低空产品，建设符合eVTOL运营的智慧停 机坪，短期内用定期体验飞行活动来验证低空交通和低空文旅航线；同时挖掘低空产业链中优质科创企 业和项目进行合作，开发具有更加丰富应用场景的示范类低空产业项目；通过"低空+"探索带动林洋储 能产品及新能源项目的推进方案，争取为林洋智维提供低空+新能源运维的创新示范机会。 ...

今日上午，沪指、创业板指走势分化，截至上午收盘，沪指上涨0.31%，报3975.92点；深成指上涨0.03%，报13607.39点；创业板指下跌0.32%，报3233.53 点；科创50指数上涨0.91%，报1358.01点；北证50指数上涨0.11%，报1464.70点。 | G = 999999 上证指数 | | | --- | --- | | | 117.017. | | | 169.017 | | A股成交 | 5879.80 乙 | | B 股员 | 0.51 乙 | | 国债成 | 8797.87 乙 | | 是金成交 | 1413.99 Z | | 最新指数 | 3975.92 | | | 3964.65 | | | 3963.68 | | | 12.24 | | 指数据 | 0.31% | | 振幅 | 24.85/0.63% | | | 5882.45 Z | | | 36316.57 | 资金面上，央行今日开展4823亿元7天逆回购操作，操作利率为1.4%，与此前持平。因今日有673亿元7天期逆回购到期，实现净投放4150亿元。 消息面，在《中共中央关于制定国民经济和社会发展第十五个五年规 ...

Core Insights - China's technological innovation is expanding into various fields, including quantum technology and lunar research, with significant breakthroughs expected by 2025 [4][6] - The "14th Five-Year Plan" emphasizes the importance of technology and innovation, highlighting a commitment to advancing scientific research and applications [4] - The development of deep space exploration and quantum computing is seen as crucial for China's strategic technological autonomy and future economic growth [8][17] Group 1: Deep Space Exploration - Major breakthroughs in lunar research are anticipated, including the discovery of new mineral types from samples returned by the Chang'e 6 mission, which will enhance understanding of lunar oxidation mechanisms [5] - The Tianwen-2 probe is set to conduct close-range exploration of a near-Earth asteroid, with sample return expected by the end of 2027 [5] - Future projects include the construction of a lunar research station, manned lunar missions, and exploration of Mars and Jupiter, aiming to enhance capabilities in deep space science and resource utilization [5][6] Group 2: Quantum Computing - Quantum computing is identified as a key technology for future strategic autonomy, requiring advancements in hardware and software integration [8] - China's third-generation superconducting quantum computer, "Benyuan Wukong," has been successfully deployed, participating in numerous collaborations across various sectors [9] - The development of quantum computing is likened to building a rocket, emphasizing the need for a comprehensive approach from hardware to software [8] Group 3: Brain-Computer Interfaces - Brain-computer interface technology is evolving to connect biological and machine intelligence, with advancements in decoding and encoding neural signals [10] - Clinical applications of brain-computer interfaces are emerging, with significant progress in invasive and non-invasive technologies [12] - The technology aims to redefine the boundaries of intelligence by integrating carbon-based and silicon-based systems [11] Group 4: Hydrogen Energy - Hydrogen energy is positioned as a vital component of the renewable energy revolution, complementing electricity and addressing sustainability challenges [17] - The development of hydrogen fuel cells is expanding into various sectors, including transportation and machinery, with China making significant strides in related technologies [18] - The strategic importance of hydrogen energy is underscored by its potential to facilitate a low-carbon energy transition [17] Group 5: Talent Development in Research - The cultivation of research talent is critical for supporting high-level technological independence, with a focus on aligning educational programs with national strategic needs [20] - Young researchers are increasingly prominent in key national projects, indicating a shift towards a younger demographic in scientific achievements [21] - A supportive environment for basic research is essential, requiring stable funding and a culture that encourages innovation and tolerates failure [22][23]

证券研究报告 A股2026年十大预测 证券分析师：陈刚 执业证书编号：S0600523040001 邮箱：cheng@dwzq.com.cn 研究助理：林煜辉 执业证书编号：S0600124060012 邮箱：linyh@dwzq.com.cn 研究助理：孔思迈 执业证书编号：S0600124070019 邮箱：kongsm@dwzq.com.cn 证券分析师：谢立昕 执业证书编号：S0600525080001 邮箱：xielx@dwzq.com.cn 证券分析师：蒋珺逸 执业证书编号：S0600525040004 邮箱：jiangjy@dwzq.com.cn 2025年12月28日 请务必阅读正文之后的免责声明 回顾2025年提出的十大预测 风险提示：经济复苏不及预期；美债见顶下行迟于预期；地缘政治事件黑天鹅。 数据来源：Wind，东吴证券研究所；注：涨幅若无其他说明，统计区间均为2025年1月1日-2025年12月26日） 2 ◼ 回顾2025年提出的十大预测： ➢ 预测一：A股震荡上行，进入新的波动中枢（万得全A涨幅为28.1%，沪指四季度围绕3900点震荡） ➢ 预测二：2025年A股交易结构比指数更 ...

（来源：河北日报） 转自：河北日报 河北部署2026年发展改革七项重点任务 推动实现"十五五"良好开局 本报讯（记者冯阳）12月27日，全省发展和改革工作会议在石家庄召开。记者从会上获悉，2025年，全 省发展改革系统在稳增长、扩内需、促协同、调结构、抓改革、惠民生、防风险等方面主动作为，助力 全省经济运行稳中有进。2026年，将聚焦七项重点任务，推动实现"十五五"良好开局。 2025年是"十四五"收官之年，全省经济运行稳中有进。 重大战略深入实施。省会至张承高铁运行时间进一步压缩，京津冀首列观光旅游列车正式开行。1至11 月雄安新区固定资产投资同比增长14.8%。石家庄都市圈发展规划印发，促进沿海经济高质量发展20条 措施出台，连续3年有5个县级市入围全国百强。 扩大内需是战略之举。我省将积极争取中央各类政策资金支持，强化项目谋划储备和组织实施，持续激 发民间投资活力，优化实施消费品以旧换新，积极扩大服务消费，更好发挥内需主导作用。 为持续增强区域发展动能，我省将办好第三届空天信息创新技术大赛，联合京津共建更多产业链、创新 链。推进石家庄都市圈发展规划落地，着力提升潜力地区城镇化水平。 产业质效稳步提升。省 ...

Core Insights - By 2025, China is expected to achieve significant breakthroughs in various scientific fields, including quantum technology and lunar research, contributing to the nation's technological self-reliance and innovation [3][5]. Group 1: Space Exploration - The Chang'e 6 mission is set to return samples from the moon's far side, revealing new insights into lunar oxidation mechanisms and marking a major scientific breakthrough in lunar research [4]. - The Tianwen-2 probe will conduct close-range exploration of a near-Earth asteroid, with a sample return expected by the end of 2027, indicating a shift towards long-term space exploration and resource utilization [4]. - China plans to advance its lunar research station, manned lunar missions, Mars sample return, and Jupiter system exploration, enhancing its capabilities in deep space exploration [4]. Group 2: Quantum Computing - Quantum computing is identified as a critical future technology, with China focusing on achieving full autonomy in quantum computing through the development of hardware and software systems [7]. - The third-generation superconducting quantum computer "Benyuan Wukong" has been launched, participating in numerous collaborations across key industries and achieving international cooperation in quantum computing [8]. - The development of quantum computing is likened to building a rocket, emphasizing the importance of integrating hardware and software for effective functionality [7]. Group 3: Brain-Computer Interfaces - Brain-computer interface technology is evolving to connect biological intelligence with machine intelligence, utilizing advanced decoding and encoding techniques to interpret brain signals [9]. - Clinical advancements in brain-computer interfaces are being made, with the establishment of comprehensive clinical trial centers and the initiation of global trials [11]. - The technology aims to redefine the boundaries of intelligence by merging carbon-based and silicon-based systems, enhancing cognitive capabilities [10]. Group 4: Digital Intelligence Technologies - Digital intelligence technologies, including cloud computing and artificial intelligence, are seen as essential tools for enhancing innovation across various industries [13]. - The integration of digital technologies into industrial processes is expected to significantly improve production efficiency and transform manufacturing paradigms [13]. - Open collaboration and resource sharing are highlighted as accelerators for technological advancement, contributing to global challenges [14]. Group 5: Hydrogen Energy - Hydrogen energy is recognized as a vital component of the renewable energy revolution, complementing electricity and supporting sustainable development [16]. - China has made significant progress in hydrogen fuel cell technology and is establishing a related industrial chain to enhance the role of hydrogen in the energy transition [17]. - The future of hydrogen energy will focus on tailored solutions that meet specific regional needs, ensuring its benefits for society [16]. Group 6: Research Talent Development - Universities are positioned as key players in nurturing research talent, aligning educational programs with national strategic needs [19]. - The emphasis is on practical applications of research, encouraging scientists to engage with industry and address real-world challenges [19]. - A supportive environment for young researchers is essential, promoting innovation and allowing for flexible evaluation of research outcomes [20]. Group 7: Basic Research Support - Basic research in China is gaining increased attention and funding, although it still lags behind developed countries in terms of investment [22]. - Continuous support for basic research is necessary, including funding stability and diverse investment channels to foster groundbreaking discoveries [22][23]. - A positive research culture is crucial for sustaining long-term engagement in basic research, promoting a supportive atmosphere for scientists [23]. Group 8: Science Popularization - The relationship between scientific innovation and public science education is emphasized, with efforts to enhance public understanding of science [24][25]. - Initiatives aimed at improving scientific literacy among youth are seen as foundational for future technological advancements [25][26].

Group 1: Technological Innovation and Achievements - In 2025, China made significant advancements in scientific research, particularly in quantum technology and lunar studies, achieving original breakthroughs [1] - The global innovation index ranked China 10th, reinforcing the foundation for high-level technological self-reliance [1] - Major breakthroughs in lunar science were achieved with the Chang'e 6 mission, revealing new lunar oxidation reaction mechanisms [2][3] Group 2: Quantum Computing Developments - Quantum computing is identified as a key future technology, with China focusing on achieving full autonomy in its development [4] - The third-generation superconducting quantum computer "Benyuan Wukong" has been launched, participating in numerous application collaborations across various sectors [4][6] - The development of quantum computing is likened to building a rocket, emphasizing the importance of both hardware and software integration [4] Group 3: Brain-Computer Interface Technology - Brain-computer interface technology is evolving to connect biological intelligence with machine intelligence, with significant clinical advancements reported in 2025 [7][9] - The technology is moving from unidirectional reading to bidirectional interaction, enhancing its potential applications [7] Group 4: Digital Intelligence and Industrial Transformation - Digital intelligence technologies, including cloud computing and AI, are seen as essential tools for enhancing innovation capabilities across industries [10][11] - The integration of digital technologies into industrial processes is expected to transform manufacturing paradigms and improve efficiency [10] Group 5: Hydrogen Energy and Renewable Resources - Hydrogen energy is recognized as a crucial component of the renewable energy revolution, complementing electricity and promoting low-carbon transitions [12][13] - China has made progress in mastering hydrogen fuel cell technologies and establishing related industrial chains [12][13] Group 6: Research Talent Development - The cultivation of research talent is emphasized as critical for supporting high-level technological self-reliance, with a focus on aligning educational programs with national strategic needs [14][15] - Young researchers are increasingly contributing to scientific advancements, with a significant proportion of key research personnel being under 45 years old [15] Group 7: Support for Basic Research - Basic research in China is receiving increased attention and support, although challenges remain in funding and stability [16][17][18] - The government is implementing reforms to enhance the support for basic research, including funding mechanisms and cultural improvements [16][17][18] Group 8: Science Popularization and Innovation - The relationship between scientific innovation and public science education is highlighted, with efforts to engage the public in scientific knowledge [19][20] - Enhancing public understanding of science is seen as foundational for fostering future research talent and innovation [19][20]