Group 1: Accounts Receivable Management - The company's accounts receivable is relatively high, but it does not increase the risk of bad debts due to appropriate provisions made according to accounting policies [2] - Clients are well-known large enterprises both domestically and internationally, which mitigates risk [2] - The company emphasizes strengthening the management of accounts receivable [2] Group 2: Long-term Expenses and R&D Investment - The increase in long-term deferred expenses is primarily due to significant investments in R&D equipment, leading to higher depreciation and amortization [2] - Continuous investment in R&D focuses on air suspension, intelligent cockpit, and other emerging productivity areas [3] Group 3: Capital Structure Optimization - The company has introduced strategic investors through a targeted stock issuance to optimize its capital structure amid international expansion and new project investments [3] Group 4: Automotive Air Suspension Project - The company has plans for a targeted stock issuance to fund the production construction project for automotive air suspension systems and components, with detailed planning and expected benefits outlined in the disclosed fundraising prospectus [3]

Core Viewpoint - The company has invested over 500 million in research and development over three years but has not yet seen high value-added products in the market, leading to questions about its low gross margin [1] Group 1: R&D Investment and Product Development - The company has spent more than 500 million on R&D over the past three years [1] - There is a concern regarding the lack of high value-added products in the market despite significant R&D investment [1] Group 2: Gross Margin and Influencing Factors - The company's gross margin is affected by fluctuations in raw material prices, the proportion of high value-added products, and the competitive landscape of the industry [1] - The company is taking measures to improve gross margin levels by enhancing production efficiency, optimizing product structure, and strengthening supply chain management [1]

当然是产业上的巨大差异，深圳的工业实力两倍于广州。 深圳工业实力，两倍于广州 去年，本号写过一篇文章，强调了如今的深圳，广州已经很难追赶。 从两座城市统计局公布的修正的历年GDP数据来看：2012年深圳超越广州，登上了中国第三城宝座。2015年深圳将差距领先至1000亿，2016年领先2000亿 +，2017年领先3000亿+，2018年领先4000亿+，之后略有缩小，2022年差距再度扩大至3500亿+。2023年，深圳将差距再度扩大至4250.67亿元。 2024年年末，深圳GDP领先广州5769.37亿元，这是广深之间的历史最大差距。 制图：城市财经；数据：各城市统计局 GDP的差距是果，而非因。那因是什么？ 此外，全口径工业增加值全国第一，2024年深圳全口径工业增加值12409.13亿元。 广州2024年的诸多数据都没有披露。只能看2023年的数据。 广州2023年规模以上工业增加值5145.89亿元，只有深圳的不到一半。2024年规模以上工业营 收23883.64亿，不到深圳的一半。 制图：城市财经；数据：各城市统计局 深圳2024年规上工业总产值54064.45亿元，全国第一，且是全国唯一一个规 ...

河北研发投入如何跑出"加速度 研发投入被称为"对未来的投资"。近日，从河北省科技厅获悉，2024年，河北省全社会研发投入达到 967.8亿元，居全国第13位，较"十三五"末期提高52.5%，"十四五"期间年均增长率达到11.13%，跑赢全 国平均水平。 原标题： 去年研发投入近千亿元，年均增长率跑赢全国平均水平 河北为什么舍得花大钱投资未来？ "研发投入对转变经济增长方式、发展新质生产力具有重要作用，这是全省上下的共识。"省科技厅相关 负责人表示，我省始终坚持把创新摆在经济社会发展全局的核心位置，深入实施创新驱动发展战略，加 快科技创新和产业创新深度融合，充分激发全社会创新创造活力。 研发投入持续增长的背后，是企业投入主体地位的日益稳固。 "以活动主体计算，我省86.1%的研发经费投入来自企业。"该负责人说，越来越多的企业认识到，越是 困难越要加大研发投入，越要坚定转型升级。 去年12月31日，由河北建投集团建设的我国首个液态空气储能电站顺利完成并网试运行，发电能力达到 1000千瓦，填补了国内这一技术领域空白。 成绩的背后，是国企研发投入的刚性增长。河北强力推进国企研发投入"三年上、五年强"专项行动，近 3 ...

证券日报网讯沃特股份（002886）11月27日在互动平台回答投资者提问时表示，公司研发投入占营业收 入比例超过6%，比例属行业领先水平。部分新增产能是为长期服务客户而进行的部分产能提前储备。 研发投入和新增产能折旧都会对公司净利润造成影响。随着新产能的逐步释放和新研发产品的逐步量产 转化，公司将不断提升回报广大投资者的能力。 ...

（文章来源：证券日报） 证券日报网讯 11月27日，天臣医疗在互动平台回答投资者提问时表示，2025年上半年研发投入为 1889.63万元，占营收12.10%，同比增长21.34%。公司持续保持对研发的重视与投入，并在专利获取、 产品中试、注册推进等方面取得积极成果，2025年上半年新增专利53件，累计获得专利822件，其中发 明专利565件。公司研发体系通过临床反馈机制不断优化，有助于提升产品性能与市场竞争力。 ...

Core Insights - Shenzhen's R&D expenditure in 2024 reached 245.31 billion yuan, marking a year-on-year increase of 9.7%, maintaining its position as the second-largest among major cities in China [2] - The R&D expenditure intensity in Shenzhen rose to 6.67%, the highest among major cities in the country, reflecting a strong commitment to high-quality economic development [2] Group 1: R&D Expenditure Growth - Shenzhen's R&D expenditure has shown a rapid annual growth rate of 12.9% since the start of the 14th Five-Year Plan, surpassing national (10.5%) and provincial (10.0%) averages [2] - Over the past decade, R&D expenditure in Shenzhen has increased from less than 80 billion yuan in 2015 to nearly 250 billion yuan in 2024, representing a cumulative growth of over 200% [2] - The intensity of R&D expenditure has improved significantly, increasing from 3.97% in 2015 to 6.67% in 2024, achieving a "triple jump" in intensity levels [2] Group 2: Basic Research Funding - Basic research funding in Shenzhen reached 11.59 billion yuan in 2024, growing by 21.2%, which is 11.5 percentage points faster than the overall R&D expenditure growth [3] - The proportion of basic research funding within total R&D expenditure increased to 4.7%, up by 0.4 percentage points from the previous year [3] - The average annual investment in basic research during the first four years of the 14th Five-Year Plan was 10.36 billion yuan, 2.7 times higher than the average during the 13th Five-Year Plan [3] Group 3: Corporate R&D Investment - Enterprises accounted for 93.5% of the total R&D expenditure in Shenzhen, contributing 96% to the overall growth of R&D funding [4] - R&D expenditure from enterprises reached 229.39 billion yuan in 2024, with a growth rate of 10.0%, outpacing national and provincial averages [4] - The computer, communication, and other electronic equipment manufacturing sector had the highest R&D expenditure at 131.59 billion yuan, making up 53.6% of the city's total R&D funding [4]

Core Insights - Shenzhen enterprises are increasingly excelling in cutting-edge innovation, with significant contributions from major companies like Huawei and BYD, as well as emerging champions like DJI and YingShi Innovation [1] R&D Investment Overview - In 2024, Shenzhen's R&D expenditure exceeded 240 billion yuan, ranking second among major cities in China [1] - The proportion of corporate R&D investment reached 93.5%, maintaining above 90% for several consecutive years [1] - Shenzhen's R&D expenditure intensity ranks first in the country, providing strong momentum for high-quality economic development [1] Growth Metrics - The total R&D expenditure in Shenzhen for 2024 is reported at 245.31 billion yuan, reflecting a year-on-year growth of 9.7% [1] - Since the start of the 14th Five-Year Plan, Shenzhen's R&D expenditure has maintained rapid growth, averaging an annual increase of 12.9%, outpacing national (10.5%) and provincial (10.0%) growth rates [1]

（文章来源：证券日报） 证券日报网讯博硕科技11月26日在互动平台回答投资者提问时表示，公司持续进行研发投入，不断积累 研发技术。 ...

Core Viewpoint - Fubon Technology (300387) has invested a total of 37.85 million yuan in R&D during the first three quarters, focusing on core technology areas such as new green agricultural chemical additives, nitrogen-fixing bacteria fertilizers for gramineous crops, root-knot nematode control, and digital agriculture [1] R&D Investment - The company’s R&D investment of 37.85 million yuan supports product innovation and technological upgrades [1] - Continuous R&D investment lays a solid foundation for the company's long-term sustainable development [1] Focus Areas - Key technology areas for R&D include: - New green agricultural chemical additives - Nitrogen-fixing bacteria fertilizers for gramineous crops - Root-knot nematode control - Digital agriculture [1]