国网金昌供电公司：双北斗"入驻"变电站 精准计 时"不掉线" 此次变电站对时装置的应用升级，是金昌电网技术革新征程中的又一重要里程碑，不仅 重新定义了变电站时间基准的精度极限，更以双重自主创新构架，为智能电网筑牢时间同步 的"中国基座"。 该公司将全面推进金昌地区电网双北斗对时系统的应用，在双北斗对时系统的助力下， 以更加精准的时间同步，进一步提升电网的智能化水平和运行效率，为金昌地区经济发展和 人民生活提供更加可靠、高效的电力保障。 该公司变电运检中心引入先进的双北斗卫星对时系统，彻底摆脱对GPS的依赖。双北斗 对时系统就像为变电站精心配备了两块永不停止运转的智能手表，主用北斗卫星实时校准， 确保时间的精准无误，一旦主用时钟出现异常，备用北斗卫星便自动补位，无缝衔接，继续 为变电站提供准确的时间信号。即便遭遇极端天气，该系统还能灵活切换至地面增强信号， 全方位确保时钟"永远在线"，即便卫星信号全失，内置超稳时钟也能精准运行10天之久，为 电力系统的稳定运行提供了可靠的时间保障。 不仅如此， 变电站双北斗对时系统的应用仿佛搭载了一颗智能学习的"大脑"，它能够在 运行过程中不断自我优化、自我校准，让时钟越用越精 ...

政策研究 政策研究|半导体行业 半导体行业 2025 年民营企业座谈会：半导体与科技政策风向解 读——基于信用风险视角的分析 文/程春晓 摘要 一、高规格座谈会释放政策信号，半导体等科技行业站上"C 位" 民营企业座谈会具有深远的意义，其内容和方向反映了国家对民营企业发展的政策 导向变化。2018 年的座谈会侧重促进民营经济全面发展，关注民营企业在经济结构调整 中的作用，以及缓解企业面临的政策压力。到 2025 年，座谈会的重点已经转向如何通 过科技创新和产业升级推动民营企业的高质量发展，尤其是在半导体等科技前沿领域的 突破。这一转变展示了民营企业在科技创新上的进步，并体现了政府推动"科技自立自 强"的战略决心。 这种变化在参会企业的类型结构中得到了充分体现，揭示了政策优先级的调整。 2018 年，参会企业多为传统制造业和消费品行业，代表企业如福耀玻璃（传统制造）、 万向集团（汽车零部件）和新希望（农业）。而到 2025 年，除了比亚迪、华为等科技龙 头企业外，还吸纳了多个在半导体、新能源汽车、机器人、AI 等领域具有领先优势的企 业，这些企业占据了核心位置，表明政府已经将科技创新和产业升级视为发展的重中之 ...

Core Viewpoint - The article emphasizes the importance of independent innovation and the promotion of Building-Integrated Photovoltaics (BIPV) and rural photovoltaic initiatives as key strategies for the solar energy industry to overcome current challenges and enhance competitiveness [1][2]. Group 1: Independent Innovation - The solar energy industry in China has transitioned from a latecomer to a global leader, but it faces increasing pressure from foreign countries [1]. - Strengthening the independent innovation system and focusing on original technology is crucial for breaking through bottlenecks and countering external pressures [1]. - The rapid expansion of solar capacity has led to supply-demand imbalances and intensified competition, necessitating a shift from cost-cutting to investing in new technologies [1]. Group 2: Policy Recommendations - The company suggests implementing policies to encourage the application of advanced photovoltaic technologies, providing market space and practical applications for these technologies [1]. - There is a call for increased support for companies that have achieved original technological breakthroughs, including funding, intellectual property protection, and project establishment [1][2]. Group 3: BIPV and Rural Photovoltaics - The promotion of BIPV should be enhanced to transition from "technical demonstration" to "large-scale application," with a target of 20GW development annually during the 14th Five-Year Plan [2]. - A coordinated standard system for BIPV should be established at the national level to facilitate deeper integration of photovoltaics with building structures [2]. - For rural photovoltaic initiatives, the establishment of standards and demonstration projects is recommended to drive high-quality development and support rural revitalization [2].

Core Viewpoint - The chairman of Longi Green Energy, Zhong Baoshan, emphasizes the importance of independent innovation and original technology in overcoming challenges in the photovoltaic (PV) industry, particularly in the context of increasing competition and external pressures [1][2]. Group 1: Industry Development and Challenges - The global technological revolution and industrial transformation highlight the green low-carbon industry as a new competitive arena, with Chinese PV companies leading in technology and efficiency [2]. - Despite the strong demand and profitability in the PV sector since 2022, rapid capacity expansion has led to market imbalances and intensified competition, necessitating a shift from cost-cutting to investing in new technologies [2]. Group 2: Recommendations for Innovation - Zhong Baoshan proposes three key recommendations for the PV industry: 1. Actively guide market applications of advanced technology products and increase investment in original technology research and development [3]. 2. Support the development of "industry chain leaders" and "ecosystem leaders" to leverage the influence of core enterprises [4]. 3. Encourage leading companies to establish industry standards and promote international standards to secure technological leadership [4]. Group 3: Promoting BIPV (Building-Integrated Photovoltaics) - BIPV technology, which integrates solar power generation with building design, is recognized as a promising sector that requires increased public awareness and acceptance for rapid development [5]. - The current national target for BIPV development is considered low, with a recommendation to set an annual target of 20 GW during the 14th Five-Year Plan period to better align with market potential [6]. - There is a significant lack of a unified national standard system for BIPV, which hinders its development across various sectors, necessitating a top-level planning approach to establish comprehensive standards [7].

Core Viewpoint - The future of the photovoltaic industry is centered on innovation, responsibility, and a global perspective, emphasizing the importance of independent innovation and original technology in sustaining China's leadership in the sector [1]. Group 1: Importance of Innovation - Chinese photovoltaic companies have achieved international leadership in multiple industry chain segments through independent innovation and original technology development [1]. - Chinese photovoltaic products are exported to over 200 countries and regions, playing a crucial role in global energy transition [1]. Group 2: Call to Action - The industry is urged to rely on Chinese original technology and independent innovation to break through technological barriers in key areas, transitioning from a "manufacturing hub" to an "innovation hub" [1]. - A joint initiative titled "Proposal for Actively Promoting Independent Innovation and Original Technology Development in the Photovoltaic Industry" was released, aiming to foster collaboration for the robust development of photovoltaic innovation and technology [1].

国泰君安证券股份有限公司 关于 上海毓恬冠佳科技股份有限公司 关于上海毓恬冠佳科技股份有限公司 首次公开发行股票并在创业板上市之上市保荐书 深圳证券交易所： 首次公开发行股票并在创业板上市 国泰君安证券股份有限公司（以下简称"本机构"、"保荐人"或"国泰君 安"）接受上海毓恬冠佳科技股份有限公司（以下简称"毓恬冠佳"）的委托， 担任其首次公开发行股票并在创业板上市（以下简称"本次发行上市"）的保荐 人，本保荐人委派顾维翰、梁昌红作为具体负责推荐本次发行上市的保荐代表人。 之 上市保荐书 保荐人 中国（上海）自由贸易试验区商城路 618 号 二〇二五年二月 国泰君安证券股份有限公司 保荐人和保荐代表人已根据《中华人民共和国公司法》（以下简称"《公司 法》"、《中华人民共和国证券法》（以下简称"《证券法》"）、中国证监会 《首次公开发行股票注册管理办法》（以下简称"《首发注册管理办法》"）以 及《证券发行上市保荐业务管理办法》（以下简称"《保荐业务管理办法》"） 等法律、法规和中国证监会及深圳证券交易所的有关规定，诚实守信，勤勉尽责， 严格按照依法制定的业务规则和行业自律规范出具上市保荐书，并保证所出具文 件真实 ...

Core Viewpoints - The photovoltaic industry is experiencing positive signals, with a focus on promoting independent innovation and original technology development [1][2][3] Group 1: Industry Initiatives - A joint initiative was launched by over 20 industry organizations to promote independent innovation and original technology in the energy storage sector [2] - The initiative emphasizes enhancing innovation capabilities, collaboration between enterprises and research institutions, knowledge sharing, and regulatory support for original technology [2] Group 2: Market Dynamics - The photovoltaic manufacturing sector is still facing issues of "involution" competition, prompting the National Energy Administration to work on policy improvements [3][4] - Recent meetings with major companies aimed to address fair competition and gather feedback on market conditions and challenges [4] Group 3: Price Trends and Market Recovery - The photovoltaic supply chain is showing signs of price increases, with N-type battery prices rising by 1.8% and double-sided N-type module prices increasing by 0.7% [5] - Analysts suggest that the worst profitability phase for photovoltaic companies has passed, with expectations of demand recovery and improved market sentiment [5][6] Group 4: Future Outlook - The photovoltaic industry is anticipated to enter a price-upward cycle, with a stable bottoming out of the fundamental market conditions [6] - There is speculation about potential capital flow into the renewable energy sector as it shows signs of recovery, contrasting with declines in other tech sectors [6]

Group 1: DeepSeek and AI Industry Transformation - DeepSeek's technological innovation, particularly the application of Scaling Law theory, significantly enhances AI model performance [1][3] - The Scaling Law theory indicates that AI model performance is proportional to the amount of parameters, data, and computation, with simultaneous improvements leading to substantial performance gains [3] - DeepSeek optimizes model performance and reduces costs, promoting AI technology applications in traditional industries such as SMEs, healthcare, and finance, thereby stimulating the growth of computing power demand [3] - DeepSeek collaborates with domestic chip manufacturers like Huawei Ascend and Haiguang to enhance the adaptability and development of domestic chips, further strengthening the autonomy of domestic computing power [3] - Through distillation technology and algorithm optimization, DeepSeek significantly reduces model storage requirements and computational load, enabling efficient inference of AI models on smart terminals like smartphones and headphones [3] - Multiple domestic smartphone manufacturers have integrated DeepSeek's AI models, with smart wearable devices (e.g., AI headphones) becoming important scenarios for edge AI applications [3] - DeepSeek-R1 represents a breakthrough in China's open-source AI field, boasting high performance, low cost, and open-source advantages, laying a foundation for future market growth with its global influence and rapidly growing user base [3] Group 2: Investment Research and Large Language Models - Automation programming plugins support multi-mode programming, file operations, command line integration, and multi-model API calls within VSCode, enabling automatic file reading, dependency installation, code execution, and error correction [4] - Large language models can transform subjective factors in investment decisions into quantifiable variables, assisting investors in conducting more efficient quantitative analysis when developing investment models [4] - The model can automatically extract market trends, industry chain information, and corporate financial data from analyst reports, providing valuable input data for quantitative investment models [5] - The model employs sentiment analysis techniques to help research personnel extract relevant emotions and viewpoints from news, social media, and reports, further optimizing the understanding of market dynamics in quantitative investment models [5] - Intelligent agents like ChatGPTTask and Operator can automate tasks such as regularly obtaining information and browsing the web, allowing research personnel to focus more on value-creating work [5] - By constructing knowledge bases, research personnel can easily extract information from historical data and reports, even obtaining relevant answers through direct inquiries [5] - For research institutions that prefer not to invest heavily in hardware and operational costs, large model API services from platforms like OpenRouter, Huoshan Engine, and Alibaba Cloud are available [5] - Tools like Ollama simplify the installation and operation processes of large models while ensuring data privacy and security [5] Group 3: Industry Trends and Future Outlook - The government emphasizes strengthening independent innovation, reflecting a high level of importance placed on technological innovation by representatives of various technology companies [5][8] - The State-owned Assets Supervision and Administration Commission (SASAC) released implementation points for the "AI+" special action, indicating continued policy support for future technological innovation, which enhances market confidence [8] - Due to the ongoing release of policy dividends and continuous deepening of industrial innovation, AI and leading domestic companies are expected to remain the main focus for future allocations [8] - Alibaba plans to invest more in cloud and AI infrastructure over the next three years than in the past decade, demonstrating its commitment and strategic layout in the AI field [8] - The demand for inference computing power is expected to grow rapidly in the short term as AI applications expand, particularly driven by the inference needs of large models, which will become a significant driving force in the computing power industry [8]