光大证券认为，AI快速发展推动其电力需求大幅上升，DeepSeek的出现进一步增强了除美国以外其他 国家的AI投资信心，全球AI投资加速亦将对AI电力需求形成拉动。在AI数据中心快速发展的趋势下， 国内领先且具备较强研发实力的服务器电源厂商将迎来发展机遇。 数据ETF（516000）及其联接基金（A类：020335；C类：020336；D类：023779）紧密跟踪中证大数据 产业指数，成分股主要聚焦DeepSeek、AI算力、鸿蒙产业链等热门概念板块，覆盖科大讯飞、中科曙 光、浪潮信息、恒生电子等热门个股。政策助力下，其成分股竞争力与发展潜力将提升，拓宽算力产业 应用边界，投资机遇值得关注。 （文章来源：每日经济新闻） 消息方面， 6月4日，国家能源局发布《关于组织开展新型电力系统建设第一批试点工作的通知》，提 出围绕构网型技术、系统友好型新能源电站、智能微电网、算力与电力协同、虚拟电厂、大规模高比例 新能源外送、新一代煤电等七个方向开展试点，探索新型电力系统建设新技术、新模式，推动新型电力 系统建设取得突破。 在算力与电力协同层面，《通知》明确，重点在国家枢纽节点和青海、黑龙江等能源资源条件好的非枢 纽节点 ...

Core Insights - The article highlights the increasing recognition among U.S. pharmaceutical insiders of China's innovative drug sector reaching a "DeepSeek moment," where U.S. companies are investing heavily in Chinese new drugs as a strategic bet on their potential [1][5] - The competitive advantage of Chinese innovation still hinges on breakthroughs in core innovation, despite the current advantages in cost and efficiency [1][4] Group 1: Investment Trends - Pfizer acquired overseas rights for a PD-1/VEGF dual antibody from 3SBio for over $6 billion, including an upfront payment of $1.25 billion [1] - Bristol-Myers Squibb secured co-development rights for a similar drug from BioNTech for $11.1 billion, with an upfront payment of $1.5 billion [1] - Chinese companies have sold overseas rights for innovative drugs to U.S. firms, with total commitments nearing $30 billion [3][12] Group 2: Competitive Landscape - There are currently 35 PD-1/VEGF dual antibodies in development globally, with 20 originating from China, indicating a strong clinical advancement from Chinese firms [2] - Chinese companies have evolved from being five years behind in PD-1 monoclonal antibodies to being approximately three years ahead in the dual antibody space [3] Group 3: Research and Development Efficiency - Chinese firms are leveraging engineering optimization as a competitive advantage, combining different monoclonal antibodies and small molecules to create innovative therapies [4] - The cost and speed advantages of Chinese teams in drug development are significant, with estimates suggesting 2-3 times lower costs and about double the speed compared to U.S. teams [6] Group 4: Market Dynamics - In Q1 of this year, 37% of innovative drug transactions with upfront payments over $50 million originated from Chinese companies, nearly doubling from two years ago [7] - Chinese companies now account for 67% of global transactions in oncology, 60% in cardiovascular diseases, and 50% in endocrine and autoimmune diseases [7] Group 5: Future Outlook - The trend of Chinese innovation in pharmaceuticals is expected to continue expanding into other therapeutic areas, with increasing competition anticipated between Chinese and U.S. firms [10] - The "DeepSeek moment" in Chinese biopharmaceuticals is raising awareness among U.S. markets, prompting significant acquisitions and strategic partnerships [10][12]

策 略 研 究 华福证券 突破、主升形态为主 团队成员 投资要点： 策 略 定 期 报 告 主题投资数据库旨在筛选优秀量价形态的主题机会，把握热门主题的 见顶节奏、龙头股的调整程度。在 3/9 发布的《主题投资的下半场决胜法 则》中，我们构建了主题投资的数据追踪体系。我们专注于 2 方面：1）4 种形态量化筛选，高赔率的主题机会；2）构建交易热度指标，把握热门主 题的见顶节奏，并最新增加了龙头股的调整程度观察。后续，我们将定期 更新主题投资数据体系。我们希望通过这种偏量化的方式，给予投资者更 客观的参考，把握住主题投资的行情节奏。 突破、主升形态为主。本期走出见底、突破、主升、加速的主题指数 数量分别有 0、27、20、2 只。其中，27 只突破形态的主题指数中，行业 多为国防军工（6 只）和有色金属（5 只）。20 只主升形态的主题指数中 包含医药生物行业（8 只）和计算机行业（7 只），而 2 只加速形态的主题 指数分别属于交通运输行业、环保行业。 人形机器人、Deepseek 主题的交易热度持续下降，对应龙头股收盘价 仍低于 MA60 的位置。我们对人形机器人、Deepseek 主题进行交易热度的 监控 ...

多个部门借助AI实现全市交通统筹联动 长沙晚报掌上长沙6月3日讯（全媒体记者 陈良 通讯员 贺星）6月3日上午，2025爱心送考公益大行动暨关爱守护 季·雷锋家乡学雷锋活动在长沙风帆广场启动，"守护蓝""畅行绿""志愿红""天使白"汇聚一堂，共同组建"爱心送考 彩虹联盟"。此次活动由湖南广播电视台、湖南省公安厅交通管理总队、湖南省残疾人联合会、长沙市委宣传部 （长沙市文明办）联合主办，湖南交通频道、长沙市公安局交警支队等共同承办。 长沙市公安局交警支队与湖南交通频道联合发放"平安小精灵爱心送考绿色通行证"，交警全力保障贴证车辆及所 有送考车辆通行顺畅； 长沙市文明办、湖南交通频道、长沙市城市管理局在6个考点外设立 "爱心加油站"，为考生及其家长提供贴心服 务，长沙市城市管理局还将在高考期间开展"静音行动"； 长沙市城市公共交通事务中心动员长沙地铁、公交、出租车、网约车加入爱心送考联盟，高考期间考生凭准考证 可免费乘坐公共客运车辆； 自2001年长沙启动"爱心送考"活动以来，其影响力与日俱增。目前，这一活动已从湖南走向全国，服务内容也从 单一的送考拓展为绿色让行、疏堵保畅、应急服务、爱心助学等多领域的综合支持体 ...

Investment Rating - The investment rating for the industry is optimistic [1][2] Core Insights - The capital market is undergoing comprehensive reforms to deepen investment and financing, with a focus on attracting long-term funds [15][27] - The introduction of DeepSeek has driven a strong rise in Chinese technology stocks, significantly impacting market sentiment and performance [27][85] - The overall performance of listed securities firms has improved, with substantial increases in revenue and net profit [16][22] Performance Review of Listed Securities Firms - As of Q1 2025, the total assets of 42 listed securities firms reached 13.11 trillion yuan, an increase of 850 billion yuan from the end of 2024 [16] - The combined operating income for Q1 2025 was 125.93 billion yuan, a year-on-year increase of 19%, while net profit rose by 74.93% to 53.46 billion yuan [16] - The top five firms by operating income were CITIC Securities, Guotai Junan, Huatai Securities, China Galaxy, and GF Securities [16] Industry Development Trends - The securities industry is experiencing a significant increase in revenue concentration, with the CR5 for operating income at 41.74% and for net profit at 54.06% as of Q1 2025 [22] - The number of securities practitioners has decreased by 5.83% year-on-year, indicating a trend towards cost reduction and efficiency improvement [32] - The management expense ratio for listed securities firms decreased to 47.01%, down 3.48 percentage points year-on-year [32] Business Line Performance - Brokerage business saw a significant increase in income, with net income from brokerage fees rising by 43.16% year-on-year to 32.736 billion yuan [38] - The asset management business faced challenges, with net income declining by 3.32% year-on-year to 10.131 billion yuan [45] - The proprietary trading business reported a 51.02% increase in income, totaling 48.566 billion yuan, driven by a recovering equity market [56] Investment Recommendations - The report suggests that the securities sector is poised for a positive outlook due to economic recovery, liquidity easing, and improving performance metrics [91] - The valuation of the brokerage sector is currently at a PB of 1.25X, indicating potential for valuation recovery [91]

6月1日起，我省正式进入汛期。全省严格落实防汛五级包保责任制，及时更新核准各级防汛抗旱责 任人3.9万名，相继组织开展全省防办系统防汛抗旱工作专题培训班和全省防汛抗旱专题培训班，累计 组织培训188班次3.19万人，落实早研判、早准备、早部署、早行动举措，全面推进防汛抗旱各项工 作。 汛前，我省通过属地自查、行业检查、防指检查，全面排查度汛隐患113处，实行"一市一单"销号 整改。先后对39座病险水库、351处未达标堤防、160处河道险工等10类重点领域，均落实安全度汛措 施，确保隐患有效治理。坚持"正向"预报，推进雨水情监测"三道防线"建设，整合水利、气象等多部门 数据，引入DeepSeek模型、水利部智能水文预报模型，实现对全省200平方公里以上河流及741座水库 精准洪水预报，有效延长洪水预见期，提高预报精准度。同时，运用数字孪生模型开展"逆向"推演，优 化水利工程调度方案，提升防汛决策科学性。 在防洪工程建设和防汛准备方面，我省实施36座水库、41座水闸除险加固及中小河流治理、313项 水毁修复工程，完善防洪工程体系。全省储备防汛抗旱物资4.58亿元、救灾物资2.58亿元，组建抢险队 伍4515支27 ...

以下文章来源于i黑马 ，作者i黑马 i黑马 . 让创业者不再孤独@i黑马 牛文文 创业黑马集团董事长&创始人 风口，无疑已经来了。 国运，无疑已经来了。 2025，中国中小企业的发展拐点，已然到来。 DeepSeek 带来 两个国运级的大机会： 第二， 中国产业智能化。 这两个国运级的大机会，马上就会普惠到全中国的产业和企业。 第一， 中国资产重估。 外行看热闹，内行看门道。 普通人跟 DeepSeek 玩一下就叫接入了。 但是如果你做企业级 的接入和应用，你必须是 核心产品、核心服务流程都 "DeepSeek化"了， 还要做到商业化提效。 现在是赢者通吃的一个时代，只有先行者，才能真正抓住这一轮大机会。 在这个情况下，创业黑马正式推出 中小企业级的 AI 实战营。 我们不但能给大家提供企业级的认知、方法论、资源 ，还会提供做企业级开发的供应商、人才 资源和投资资源。 3天2夜，带你用AI突破企业增长困局， 聚焦企业AI应用落地困惑， 运用"黑马AI增长画布， 助力企业用AI破局增长。 第一，在过去两年时间，我们黑马自己做了"天启政策大模型"。 目前， "天启政策大模型" 已成为工信部全国一张网七大板块中，找 ...

截至2025年5月29日 09点30分，中证大数据产业指数上涨0.06%，成分股千方科技上涨1.74%，新点软件上涨0.76%，紫光股份上涨0.55%，拓维信息上涨 0.51%，中国软件上涨0.45%。数据ETF（516000）上涨0.34%，最新价报0.88元。拉长时间看，截至2025年5月28日，数据ETF近1年累计上涨31.98%，领 涨同类。 数据ETF（516000）及其联接基金（A类：020335；C类：020336；D类：023779）紧密跟踪中证大数据产业指数，成分股主要聚焦DeepSeek、AI算力、 鸿蒙产业链等热门概念板块，覆盖科大讯飞、中科曙光、浪潮信息、恒生电子等热门个股，为投资者把握算力领域投资机会。 流动性方面，数据ETF盘中换手3.04%，成交1264.11万元。拉长时间看，截至5月28日，数据ETF近1年日均成交1707.12万元。 份额方面，数据ETF最新份额达4.72亿份，创近1月新高。 资金流入方面，数据ETF最新资金净流入352.48万元。拉长时间看，近10个交易日内有6日资金净流入，合计"吸金"1986.37万元，日均净流入达198.64万 元。 消息面上，工信部、 ...

Group 1 - A-shares showed mixed performance with major indices declining, while sectors like gold jewelry, dairy, nuclear power, and optical communication were active [1] - The AI application sector is still in its early stages, with potential for growth driven by increasing application scenarios and token consumption, supported by advancements in domestic AI chip capabilities [1] - The domestic CPU market is expected to see new growth opportunities due to the implementation of domestic innovation policies in government and industry sectors [1] Group 2 - The cloud computing 50 ETF has a high AI computing content, covering sectors such as optical modules, data storage, and liquid cooling, with a significant portion of DeepSeek concept stocks [2] - The management and custody fees for the cloud computing 50 ETF are among the lowest in the market at a combined rate of 0.2% [2]

法国巴黎银行财富管理香港首席投资策略师谭慧敏认为，科企早前公布的季绩表现属预期之内。在 Deepseek相关的利好因素消退后，市场需要有新消息憧憬，企业收入或盈利指引胜预期，会是下一个催 化剂。现时选股应避开竞争强劲的范畴，如外卖平台，反而手游企业收入能见度高，配合中央持续发布 游戏版号，可看高一线。(智通财经) ...