原定500人的活动现场，硬是挤进了1000多号人，一度导致现场公众网络连接瘫痪！ 2025年12月31日，山东大厦金色大厅。本该是MARS F1机器人全球首发的高光时刻，现场却上演了一 出"意外大戏"——上千名观众的热情涌入，直接把现场公共网络和运营商信号双双干瘫痪。正演示中的 MARS F1机器人瞬间"大脑短路"，全场观众一片哗然：这机器人咋还"社恐"了？ "公共网络堵车"使出真功夫 这可不是临时抱佛脚。山东未来机器人早就预判到：当机器人从实验室走向真实场景，公共网络那点带 宽和延迟根本不够用。他们提前布局的这张"具身智能机器人专网"，集成了5G确定性网络、边缘计算 和网络切片黑科技——简单说，就是给机器人修了一条"VIP高速公路"，数据不用跟普通人挤马路，全 程绿灯畅行无阻。 这次发布会不仅捧红了MARS F1机器人，更让所有人看明白一件事：具身智能时代，专属网络不是可 选项，是必选项。当机器人需要实时传输海量传感器数据、执行毫秒级响应指令时，一张高带宽、低时 延、高安全的专网，才真正是它们的"数字生命线"。 关键时刻，山东未来机器人技术团队直接祭出"隐藏大招"——具身智能机器人专网。只见技术人员淡定 地 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 世界与计算的关系正在发生变化——从集中式云到覆盖所有设备、表面和系统的分布式智 能。2026年，我们将进入智能计算的新时代——计算将更加模块化、节能高效，并在云 端、物理环境和边缘人工智能环境中无缝连接。 基于此，Arm预测以下20项技术将在2026年引领下一波创新浪潮。 1. 模块化芯片重新定义了硅设计 随着硅芯片行业不断突破技术极限，从单片芯片到模块化芯片设计的转变将加速。通过将计算、存 储和I/O分离成可重用的构建模块，设计人员可以混合使用不同的工艺节点，降低成本，并更快地 扩展规模。对模块化的日益重视将标志着芯片设计从"更大的芯片"向"更智能的系统"转变，使芯片 团队能够自由地混合使用不同的工艺节点，并快速定制片上系统 (SoC) 以适应各种工作负载。这 将推动可定制芯片的持续发展——这些高度可配置的模块将通用计算与特定领域的加速器、存储单 元或专用人工智能引擎相结合——使芯片团队无需从零开始即可构建差异化产品，从而显著缩短设 计周期并降低创新门槛。此外，预计行业标准化也将不断发展，新兴的开放标准将使来自不同供应 商的芯片能够可靠且安全地组合使用。这将降低集成 ...

Group 1 - The core viewpoint of the news is that Shanghai Industrial Development Co., Ltd. has shown significant stock performance and financial metrics, indicating potential investment interest [1][2] - As of December 31, the stock price increased by 2.26% to 5.43 CNY per share, with a total market capitalization of 10.016 billion CNY [1] - The company has experienced a year-to-date stock price increase of 50.83%, with a recent 5-day increase of 2.45% and a 20-day decrease of 3.89% [1] Group 2 - The company was established on September 19, 1996, and primarily engages in real estate development and related services, with property management services contributing 52.15% to its revenue [2] - For the period from January to September 2025, the company reported a revenue of 2.12 billion CNY, reflecting a year-on-year growth of 32.45%, while the net profit attributable to shareholders was -609 million CNY, a decrease of 118.41% [2] - As of September 30, 2025, the number of shareholders increased to 31,600, with an average of 58,303 circulating shares per shareholder [2][3] Group 3 - The company has distributed a total of 1.511 billion CNY in dividends since its A-share listing, with 75.627 million CNY distributed over the past three years [3] - Among the top ten circulating shareholders, the Southern CSI Real Estate ETF is the eighth largest, holding 11.678 million shares, a decrease of 108,300 shares from the previous period [3]

Core Insights - The Chinese hybrid cloud storage industry is entering a critical development phase, with a projected market size of approximately 7.369 billion yuan in 2024, representing a year-on-year growth of 20.35% [1][10]. Industry Overview - Cloud storage refers to the online storage model that allows data to be transmitted to remote third-party servers for storage, management, and access via the internet, eliminating reliance on local physical storage devices [2]. - The most common classifications of cloud storage are public cloud storage, private cloud storage, and hybrid cloud storage, corresponding to three deployment models of cloud computing [2]. Industry Development History - The Chinese hybrid cloud storage industry has evolved through three stages: 1. The nascent stage before 2010, focusing on exploring cloud computing concepts and technology accumulation. 2. The growth stage from 2011 to 2015, where cloud computing technology matured, leading to enterprise trials of hybrid cloud backup and archiving. 3. The maturity stage from 2016 to the present, marked by large-scale applications and the emergence of innovative products [6]. Industry Value Chain - The upstream of the hybrid cloud storage industry includes raw materials and components such as chips, storage media, and software like operating systems and databases. - The midstream consists of hybrid cloud storage solution and service providers. - The downstream applications span various sectors, including finance, government, manufacturing, healthcare, education, and the internet [8]. Market Size - The hybrid cloud storage market is characterized by its ability to balance the flexibility of public clouds with the control of private clouds, making it a "golden choice" for enterprises seeking efficient data management and compliance [10]. - Solutions like Huawei Cloud Stack and Alibaba Cloud hybrid storage arrays have achieved intelligent tiering of hot and cold data, significantly enhancing storage efficiency [10]. Key Companies' Performance - The competitive landscape of the hybrid cloud storage industry is marked by a concentration of leading players and multi-polar competition. Huawei Cloud dominates in the government and finance sectors, while Alibaba Cloud leverages its ecosystem to cover various industries [12]. - China Telecom's Tianyi Cloud HBlock distributed storage system supports unified management of local and cloud data, enhancing efficiency and reducing costs [12]. - Alibaba Cloud's hybrid storage services have supported over one million global customers, becoming a key enabler for digital transformation [13]. Industry Development Trends 1. The integration of technologies such as AI, big data, and edge computing will drive the intelligent evolution of storage architectures, enhancing performance and efficiency [14]. 2. Strengthening security compliance capabilities will become a core competitive advantage, with enterprises adopting unified security management platforms [15]. 3. The industry will move towards green and low-carbon development, with leading companies adopting energy-efficient technologies and optimizing resource allocation [16].

广和通（300638）(00638)午后涨近4%，截至发稿，涨2.74%，报15.74港元，成交额2611.58万港元。 华泰证券此前指出，短期来看，我们认为公司海外FWA、泛IoT等业务需求有望延续向好态势；另一方 面，随着后续公司出货结构改善，盈利能力有望延续企稳回升。长期来看，我们认为AI算力由云端向 边缘侧渗透为大势所趋，公司作为国内智能模组领域的领先厂商，有望把握未来边缘计算市场带来的广 阔新机遇，其中我们认为AIPC、户外机器人等市场有望为公司贡献新的业绩增长点。 消息面上，12月26日，2025粤港澳大湾区AI硬件嘉年华在深圳成功举办。大会以"智联湾区，硬航未 来"为主题，聚焦AI硬件前沿技术趋势、产业生态协同及商业化落地实践，汇聚众多行业专家与企业代 表。作为全球领先的无线通信与AI解决方案提供商，广和通受邀参展，系统展示了覆盖"通信-算力-平 台-应用"的AI全栈能力体系，为AI硬件规模化落地提供坚实支撑。 ...

芯原股份 20251228 摘要 新元股份 2025 年前三季度新签订单 15.93 亿元，65%与 AI 算力相关， 手持订单达 32.86 亿元，营收 22.55 亿元，同比增长 36.64%。一站式 芯片定制服务增长超 50%，先进工艺（28 纳米以下）占比 94%，更先 进工艺（14 纳米以下）占比 81%，AI 算力相关芯片设计业务收入占比 73%。 2025 年前三季度，新元股份量产出货芯片 112 个，另有 47 个量产设 计项目在进行中。数据处理领域需求强劲，第三季度收入同比大涨 180%。 大基金减持新元股份 1.7%股份属正常操作，因一期投资已满十年。大 基金三期拟投资 13 亿元并购逐点半导体项目，显示国家长期支持。上 海国投先导、北京亦庄国投等机构也参与支持该并购。 新元股份四季度新签订单 24.94 亿元，84%以上与 AI 算力相关，涵盖 云端训练和端侧推理项目，包括数据中心服务器、高性能云端设备，以 及 AI PC、AI 手机等端侧设备。关注 AR 眼镜、玩具及 iPad 等增量市场。 Q&A 新元股份在 2025 年第四季度的新签订单情况如何？ 截至 2025 年 12 月 2 ...

Core Viewpoint - The data center dry-type transformer industry is experiencing unprecedented growth opportunities and technological innovations driven by the acceleration of global digitalization and the explosive development of artificial intelligence (AI) technology [5][7]. Product Definition - Data center transformers are crucial devices designed for power distribution systems, responsible for voltage conversion, electrical isolation, and power protection. They are essential for reducing high or medium voltage electricity to the low voltage required by servers and related loads [2]. - Compared to ordinary transformers, data center transformers emphasize high reliability, low energy consumption, fire safety, and environmental adaptability. Common types include dry-type transformers and oil-immersed transformers, each suited for different power supply stages and environmental needs [2][3]. Industry Development Overview - The dry-type transformer market for data centers is projected to grow significantly, with global sales expected to reach $888 million in 2024 and $2.463 billion by 2031, reflecting a compound annual growth rate (CAGR) of 14.53% from 2025 to 2031. The Chinese market is anticipated to account for 31.46% of the global market in 2024, increasing to 33.62% by 2031 [7][8]. - Major international manufacturers include Schneider Electric, Siemens Energy, GE Vernova, Hitachi Energy, and Hyosung Heavy Industries, which collectively hold 56.80% of the market share in 2024 [7]. Industry Growth Drivers - The demand for data centers is surging due to advancements in cloud computing, AI, and big data technologies, particularly with the rise of hyperscale data centers. In 2023, over 300 data centers are under construction globally [10]. - China's "East Data West Computing" initiative is expected to drive over 100 billion yuan in new infrastructure investments annually, significantly increasing transformer demand in western hub nodes [11]. - The need for energy efficiency upgrades is pressing, with the EU's Energy Efficiency Directive mandating that new data centers achieve a Power Usage Effectiveness (PUE) of ≤1.3 by 2025, and China's requirement for eastern hubs set at ≤1.25 [11]. Technological Innovations - The industry is focusing on new materials like amorphous alloys and optimizing designs to reduce no-load and load losses, meeting higher energy efficiency standards [15]. - Integration of sensors and monitoring systems for real-time parameter tracking is becoming standard, enabling predictive maintenance and remote management [16]. - Modular designs are increasingly favored for their rapid deployment and scalability, catering to the dynamic needs of data centers [17]. Market Challenges - Fluctuations in raw material prices, such as copper and silicon steel, can directly impact manufacturing costs and profit margins [19]. - High R&D costs for developing energy-efficient and intelligent transformers pose significant challenges, especially for small and medium-sized enterprises [19]. - The tightening delivery timelines for data center construction necessitate optimized supply chain management to meet customer demands [19]. Competitive Landscape - The market is characterized by high entry barriers due to stringent efficiency, safety, and environmental standards that transformers must meet [20]. - Established brands enjoy strong customer loyalty and trust, making it difficult for new entrants to gain market share despite potential price advantages [20].

12月24日，中兴通讯盘中上涨2.10%，截至13:50，报37.97元/股，成交35.19亿元，换手率2.33%，总市 值1816.31亿元。 资料显示，中兴通讯股份有限公司位于广东省深圳市南山区高新技术产业园科技南路中兴通讯大厦,香 港铜锣湾勿地臣街1号时代广场2座31楼，成立日期1997年11月11日，上市日期1997年11月18日，公司主 营业务涉及投资兴办实业,电子及通信设备零部件的销售。主营业务收入构成为：运营商网络49.00%， 政企业务26.91%，消费者业务24.09%。 中兴通讯所属申万行业为：通信-通信设备-通信网络设备及器件。所属概念板块包括：核心网、RCS概 念、IPV6、操作系统、边缘计算等。 截至12月19日，中兴通讯股东户数62.31万，较上期增加9.68%；人均流通股6467股，较上期减少 8.82%。2025年1月-9月，中兴通讯实现营业收入1005.20亿元，同比增长11.63%；归母净利润53.22亿 元，同比减少32.69%。 分红方面，中兴通讯A股上市后累计派现171.37亿元。近三年，累计派现81.14亿元。 机构持仓方面，截止2025年9月30日，中兴通讯十大流 ...

Core Insights - The Internet of Things (IoT) gateway is a crucial hub in the IoT architecture, facilitating interconnectivity between the perception layer, network layer, and application layer, while performing key functions such as data collection, protocol conversion, and edge computing [1][2][3] - The global IoT market is experiencing rapid growth, with revenues expected to reach $1.016 trillion in 2024 and projected to rise to $2 trillion by 2030, with the Asia-Pacific region contributing 55% of the revenue, primarily driven by China [1][7] - The Chinese IoT industry is set to reach a market size of 4.01 trillion yuan in 2024, increasing to 4.55 trillion yuan in 2025, with a year-on-year growth rate of approximately 13.7% [1][7] - The IoT gateway market in China is expected to grow to 45 billion yuan in 2024 and surpass 51.8 billion yuan in 2025, with an annual compound growth rate of over 15% [1][8] Industry Overview - The IoT gateway serves as a key device for interconnecting various IoT terminal devices with different protocols, types, and transmission rates, while also performing data collection, protocol conversion, edge computing, data filtering, and secure transmission [2][3] - The IoT gateway can be categorized based on protocol type, deployment scenario, and functional characteristics, including wireless protocol gateways, wired protocol gateways, and multi-protocol fusion gateways [3][5] Market Dynamics - The industrial-grade gateway accounts for over 42% of the market, with significant demand from key industries such as automotive manufacturing and energy and chemical sectors [8] - The consumer-grade gateway market is driven by the proliferation of smart home devices, while the automotive IoT gateway is experiencing rapid growth due to the development of V2X infrastructure [8] - Edge computing gateways, although currently holding a market share of about 6%-10%, are seeing a penetration rate of 35% due to the demand for real-time industrial applications [8] Policy Environment - The Chinese government has implemented various policies to promote the high-quality development of the IoT industry, including the "Digital China Construction Overall Layout Plan" and local initiatives aimed at integrating new information technologies with vertical sectors [6][7] Industry Chain - The IoT gateway industry chain is clearly defined, with upstream focusing on hardware and core technology suppliers, midstream consisting of gateway manufacturers and integrators, and downstream involving users and service providers in various IoT application fields [6] Competitive Landscape - The industry is characterized by a competitive landscape dominated by local giants like Huawei and ZTE, which hold approximately 41% of the market share, while specialized companies like Yihantong focus on specific verticals [10] Future Trends - The IoT gateway industry is expected to evolve towards deeper technological integration, with a focus on edge computing and artificial intelligence, transforming gateways into intelligent decision-making terminals [11] - The market will shift towards customized solutions for vertical industries, with a focus on adapting gateways to specific scenarios [12] - The trend of domestic substitution will continue, with local companies building self-sufficient supply chains and innovative service models emerging, such as "device as a service" [13][14]

内容概况：近年来，随着人工智能、大数据处理、边缘计算等技术的融合，高光谱相机的应用边界不断 拓展。尤其是在智慧农业、精准医疗、新能源材料检测等新兴场景中，高光谱成像技术正逐步从科研实 验走向商业化落地。数据显示，2024年中国高光谱相机行业市场规模达2.18亿元，同比增长20.44%。这 一显著增长反映出我国在遥感监测、智能制造、农业监测及国防安全等领域的技术升级需求持续释放， 推动高光谱相机成为高端仪器仪表与光学传感系统的重要组成部分。未来，随着技术进步与市场认知度 的进一步提升，将成为行业发展的关键驱动力。高光谱成像技术的光谱、空间和辐射分辨率将持续提 升，结合计算机与人工智能技术，高光谱数据处理分析能力将大幅增强。同时，上下游产业的协同发 展，将进一步推动高光谱相机市场扩容，产业协同效应日益显著。预计2025年中国高光谱相机行业市场 规模将达2.59亿元。 高光谱相机通过在每个像素点上获取一条完整的光谱曲线，实现了对物体光谱信息的精细刻画。相比于 传统RGB相机只能获取红、绿、蓝三个波段的图像信息，高光谱相机可以获取数百甚至上千个窄波段 的图像信息，因此具有更高的光谱分辨率。高光谱相机的成像过程包括光源 ...