Core Viewpoint - Dipu Technology's stock has experienced fluctuations, with a recent decline of 2.02%, while the company shows a year-to-date increase of 17.21% in stock price [1] Financial Performance - For the period from January to September 2025, Dipu Technology achieved a revenue of 871 million yuan, representing a year-on-year growth of 6.28% [2] - The net profit attributable to the parent company for the same period was 93.6 million yuan, reflecting a year-on-year increase of 1.32% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for Dipu Technology reached 26,700, an increase of 8.82% compared to the previous period [2] - The average circulating shares per person decreased by 8.10% to 15,774 shares [2] Dividend Distribution - Since its A-share listing, Dipu Technology has distributed a total of 313 million yuan in dividends, with 152 million yuan distributed over the past three years [3] Stock Market Activity - As of November 14, 2023, Dipu Technology's stock price was 20.42 yuan per share, with a market capitalization of 13.147 billion yuan [1] - The stock has seen a net outflow of 12.8947 million yuan in principal funds, with significant selling pressure observed [1]

（一） 中国的发展离不开世界，世界的繁荣也需要中国。开放合作、互利共赢，是解码中国式现代化的一把钥 匙。 11月10日，第八届进博会在上海闭幕。习近平总书记亲自谋划的世界上第一个以进口为主题的国家级展 会，是国际贸易发展史上的一大创举。本届834.9亿美元的按年计意向成交额、138个国家和地区的4108 家企业参展的成绩，均刷新历史纪录。 11月6日，习近平总书记在海南指出："党中央决定，今年12月18日海南自由贸易港正式启动全岛封关， 这是我国坚定不移扩大高水平对外开放、推动建设开放型世界经济的标志性举措。" 以全面深化改革开放推动高质量发展，集中力量办好自己的事，通过高水平对外开放为世界注入确定性 与稳定性，是习近平新时代中国特色社会主义思想的重要内容。 今天，再次学习领会习近平总书记2018年在首届进博会开幕式上的主旨演讲《共建创新包容的开放型世 界经济》，更加深刻感悟到思想的力量。 "举办中国国际进口博览会，是中国着眼于推动新一轮高水平对外开放作出的重大决策，是中国主动向 世界开放市场的重大举措。" "中国将抓紧研究提出海南分步骤、分阶段建设自由贸易港政策和制度体系，加快探索建设中国特色自 由贸易港进 ...

Core Viewpoint - The concept of "scene," originating from the film industry, is being utilized in China as a new reform tool to facilitate the transition of cutting-edge technologies from the laboratory to the market [1][2] Group 1: Scene as a Reform Tool - The State Council has issued the "Implementation Opinions on Accelerating Scene Cultivation and Open Promotion of Large-Scale Application of New Scenes," marking the first systematic deployment of scene cultivation at the national level [1] - Scenes are defined as specific contexts for the innovative application of new technologies, products, and business models, involving both hard and soft validations [1][2] - The shift from traditional laboratory settings to real market environments is crucial for testing the feasibility of technologies, especially for future industries like artificial intelligence and next-generation energy storage [1][2] Group 2: Innovation Paradigm Shift - The "Opinions" propose a scene-driven innovation paradigm that emphasizes starting from real market demands and specific application scenarios, thereby accelerating the adjustment of technology development directions [2] - A total of 22 application scenarios are to be cultivated, including six new fields such as digital economy and artificial intelligence, which have strong general applicability across various industries [2] - The integration of technology validation, market cultivation, and institutional improvement into a comprehensive verification platform is expected to facilitate the transition from research outcomes to market products [2] Group 3: Opening Up Scene Resources - Alongside cultivating new scenes, there is a significant emphasis on "opening" up resources, addressing structural issues in scene resource allocation across the country [3] - The "Opinions" call for expanding scene supply and promoting fair and efficient allocation of scene resources, particularly encouraging state-owned enterprises to open their main business areas to attract participation from private and small enterprises [3] - The initiative aims to create a collaborative environment for scene cultivation and opening, allowing private enterprises to explore market demands and expand new scenes, thus generating substantial business opportunities [3]

Core Viewpoint - The concept of "scene," originating from the film industry, is being recognized in China as a new reform tool to facilitate the transition of cutting-edge technologies from the laboratory to the market [1][2]. Group 1: Scene as a Reform Tool - The State Council's recent implementation opinion marks the first systematic deployment at the national level for scene cultivation and openness [1]. - Scenes are defined as specific contexts for the innovative application of new technologies, products, and business models, involving both hard and soft validations [1][2]. - The shift from traditional laboratory settings to real market environments serves as a "touchstone" for technological feasibility, crucial for future industries like artificial intelligence and next-generation energy storage [1][2]. Group 2: Innovation Paradigm Shift - The opinion breaks the limitations of traditional linear technology transfer, emphasizing a scene-driven innovation paradigm that starts with real market demands [2]. - It aims to create a virtuous cycle where demand drives innovation and innovation meets demand, providing a more efficient support model for the development of new productive forces [2]. - The opinion identifies 22 types of application scenes, including six new fields such as digital economy and artificial intelligence, which have strong general applicability across various industries [2]. Group 3: Opening Up Scene Resources - Alongside cultivating new scenes, there is a significant emphasis on "opening" up resources, addressing structural issues in scene resource allocation [3]. - The opinion calls for expanding scene supply and promoting fair and efficient allocation of scene resources, particularly encouraging state-owned enterprises to open their main business areas to private and small enterprises [3]. - By supporting private enterprises in exploring new scenes, the government aims to create numerous business opportunities and foster a collaborative environment for scene cultivation and openness [3].

聚焦这一痛点，中国南方电网广西电网公司组建量子技术科研团队，全力开展科研攻关。团队成员翟宏 营介绍，团队将"低温超导+液氦"的传统模式，革新为"高温超导+液氮"的实用方案，将设备体积压缩至 背包大小，大幅降低了系统复杂度与应用门槛，让量子电压标准技术从实验室走向产业应用。 "过去全球量子计量困在'高精尖实验室'，而我国团队首次打破这一认知，将量子技术从'理论殿堂'拉 到'产业一线'。"中国科学院院士王秋良表示，这项技术让我国摆脱进口设备依赖，重新定义全球量子 计量"实用标准"。 当前全球主流量子电压标准技术依赖液氦营造的极端低温环境，成本高、设备体积庞大、运维复杂，难 以大规模推广应用。 记者近日从中国南方电网广西电网公司获悉，该公司电力量子技术团队联合中国计量科学研究院、中国 科学院电工研究所、南开大学，成功研制出实用高温超导量子电压标准整机QUS-π（v1.0），为电压精 密测量打造出"自主可控、即插即用"的"量子标尺"。 电压测量是精密产业发展的"基础坐标"，尤其是手机芯片电路校准、特高压电网安全运行、卫星导航信 号调控、航空发动机性能测试等高精尖领域，对电压基准的精准度、稳定性要求极高。 （文章来源： ...

Core Insights - China is adopting a new reform tool termed "scene cultivation" to facilitate the leap of cutting-edge technologies from the laboratory to the market [1][2] - The State Council has issued an implementation opinion to systematically deploy scene cultivation and openness at the national level, marking a significant policy shift [1][2] Group 1: Scene Cultivation and Innovation - The concept of "scene" refers to the specific context in which new technologies, products, and business models are innovatively applied, allowing for both hard and soft validations [1] - The new approach emphasizes a reverse-driven innovation paradigm, where real market demands and specific application scenarios guide technology development, fostering a virtuous cycle of innovation [2] - The opinion outlines the cultivation of 22 types of application scenarios, including six new fields such as digital economy and artificial intelligence, which are expected to drive cross-industry innovations [2] Group 2: Market Opening and Resource Allocation - The government aims to expand scene supply and promote the fair and efficient allocation of scene resources, addressing structural issues in resource distribution [3] - State-owned enterprises are encouraged to open their primary business scenarios to attract participation from private enterprises, SMEs, and research institutions [3] - The opinion supports private enterprises in exploring new market demands and expanding new scenarios, effectively easing entry restrictions and creating significant business opportunities [3]

三是宏观经济动能切换，资本市场服务实体经济的功能将助力经济增长，预计在宏观政策与改革政策持续发力下，明年我国经济将呈现结构分化下的温和修 复态势，新质生产力的发展将稳定未来五年经济增长。此外，在金融支持实体经济的布局中，科技金融排在首位，科技、产业、金融的良性循环有望催生更 多市场结构性机会。 邹迎光回顾，去年资本市场年会以"站上起跑线"为主题，而过去一年中国资本市场已进入全新阶段，焕发出新的生机与活力。此次以"奋进新征程"为主题， 源于党的二十届四中全会科学研判国际国内形势，对中国经济社会未来五年发展作出顶层设计和战略规划，也赋予了资本市场新时代内涵与发展使命。他强 调，中国资本市场面临的全球背景、科技趋势、制度环境将呈现新特征，需在新征程上稳步奋进。 从全球背景来看，邹迎光指出，全球格局加速演进，产业与金融格局深刻重构，为中国资本市场带来外部契机。在全球治理方面，地缘政治因素虽导致世界 局势动荡、国际经贸秩序重构，但携手构建人类命运共同体的中国智慧和中国方案正获得更多认可，中国的国际影响力、感召力、塑造力持续提升，参与全 球治理与维护海外运营能力不断增强。产业格局上，中国制造在复杂环境中彰显强大韧性，今年 ...

Core Viewpoint - The NATO Science and Technology Organization's report emphasizes that science and technology (S&T) is becoming a core driver of strategic decision-making and shaping global competition, rather than merely a tool for geopolitical empowerment [2][3]. Group 1: Macro Trends - The report identifies six interrelated macro trends that will shape the strategic environment for NATO over the next 20 years, indicating a future that is increasingly complex and uncertain due to technological advancements [4]. - The first trend is the evolving competition landscape, highlighting the importance of space and cyber domains, with warnings about the potential for an arms race in space and increased gray zone attacks in cyberspace [4][5]. - The second trend focuses on the competition for artificial intelligence (AI) and quantum advantages, noting that the U.S. leads in R&D spending but China is rapidly catching up, particularly in AI research output [5]. - The third trend is the biotechnology revolution, with synthetic biology expected to drive the next technological cycle, presenting both revolutionary opportunities and significant risks, including the potential for new biological weapons [6]. - The fourth trend addresses the resource gap, where technological advancements increase demand for rare materials, leading to geopolitical tensions and potential resource cartels [7]. - The fifth trend discusses the decline of public trust in science and institutions, exacerbated by AI's role in spreading misinformation, which could lead to fragmented internet environments [8]. - The sixth trend highlights the integration and dependency on technology, raising challenges related to interoperability and the reliance on small and medium enterprises for military technology [9]. Group 2: Strategic Recommendations - The report calls for NATO leaders to strengthen technological cooperation among like-minded nations, emphasizing that no single country can achieve technological superiority alone [10]. - It stresses the need to balance open research with research security, particularly in high-risk areas like biotechnology, advocating for global biosafety standards [10]. - The report also highlights the importance of ethical considerations and legal safeguards in the development of AI and biotechnology, urging NATO to prioritize these aspects to build trust [11].

Core Insights - Quantum Brilliance has officially launched the world's first commercial facility dedicated to the large-scale production of quantum-grade diamond in Melbourne, Australia [1][5] - The facility aims to accelerate the design and manufacturing of diamond quantum devices, leveraging Australia's significant investments, including the National Reconstruction Fund and the Victoria Breakthrough Fund [5][6] Group 1: Company Overview - Quantum Brilliance specializes in diamond quantum technology, focusing on the design, manufacturing, and production of compact, durable, room-temperature quantum devices [8] - The company has established operations in Australia and Germany, promoting the large-scale application of quantum technology and its integration with everyday devices and high-performance computing systems [8] Group 2: Technological Impact - Diamond quantum technology enables the creation of compact and lightweight quantum devices that can operate at room temperature, supporting large-scale deployment in various environments [5] - Potential applications include instant pathology, accelerated neuro-medicine development, reliable navigation without GPS, mineral exploration, renewable energy infrastructure, and artificial intelligence [5] Group 3: Economic and Employment Impact - The establishment of the facility enhances local expertise and supports high-skilled employment, positioning Victoria and Australia as leaders in diamond quantum technology [5][7] - The investment is expected to accelerate breakthroughs in quantum technology and create local high-skilled job opportunities, contributing to the state's innovation economy [7]

Core Insights - In November, certain low-priced, high-recognition stocks have shown significant performance, with "Ma" stocks averaging a nearly 2% increase, surpassing the Shanghai Composite Index's performance during the same period, with multiple stocks rising over 10% [1] Group 1: Stock Characteristics - The analysis identifies 16 potential strong stocks for the year-end, focusing on those priced between 5 to 15 yuan per share and with a market capitalization below 5 billion yuan [1] - These stocks are predicted to have a net profit growth rate exceeding 30% for both 2025 and 2026, according to institutional consensus [1] - The companies involved are engaged in trending sectors such as quantum technology, AI, and lithium batteries [1] Group 2: Potential Stocks Summary - The table lists various stocks with their latest closing prices, market values, and projected net profit growth rates for 2025 and 2026, along with their associated hot concepts [2] - For instance, "Aoto Electronics" (002587) has a closing price of 6.42 yuan and a market value of 4.183 billion yuan, with a projected net profit growth of 193.43% for 2025 and 111.11% for 2026, focusing on Douyin Doubao [2] - "Liujin Technology" (920021) shows a closing price of 6.87 yuan and a market value of 2.123 billion yuan, with a projected net profit growth of 203.78% for 2025 and 96.00% for 2026, involved in 5G applications [2]