如今，传统农具早已实现"科技换装"，它们以智能化、机械化、绿色化、多功能化的崭新形象活跃在田 野上。 中商产业研究院发布的数据显示，2024年，中国智慧农业市场规模约1050亿元，同比增长11.7%；2025 年，预计市场规模将达到1200亿元。目前，从生产应用场景来看，我国智慧农业生产主要以数字平台服 务和智慧种植为主，占比总和达67%，植保无人机、智慧养殖、农机自动驾驶占比分别为20%、12%、 1%。 当下，不少上市公司在智慧育种、智慧种植、农业机械智能化等方面都有自身的"精湛手艺"。 例如，袁隆平农业高科技股份有限公司（以下简称"隆平高科"）聚焦种业主业，依托科技创新，已发展 成为以水稻、玉米、小麦三大主粮作物，及辣椒、黄瓜、谷子、食葵、甜瓜等专精特新作物为主业的综 合性跨国种业集团。 "公司在生物育种领域已具备较强的核心竞争力，信息技术作为辅助性工具已大量使用在生物育种领 域，并不断提高育种研发的门槛。公司也积极探索利用包括人工智能在内的信息技术在农业育种和种植 方面的应用，进一步优化育种效率，以科技力量助力农业发展。"隆平高科董秘胡博向《证券日报》记 者表示。 本报记者李雯珊 李如是 "时至立夏， ...

2025 年 05 月 04 日 传统主业拐点出现，机器人业务未来可期 增持(首次) 事件 分析师：任春阳 S1050521110006 rency@cfsc.com.cn | 基本数据 | 2025-04-30 | | --- | --- | | 当前股价（元） | 41.27 | | 总市值（亿元） | 135 | | 总股本（百万股） | 327 | | 流通股本（百万股） | 283 | | 52 周价格范围（元） | 12.04-50.9 | | 日均成交额（百万元） | 831.09 | 市场表现 资料来源：Wind，华鑫证券研究 -50 0 50 100 150 200 250 300 (%) 汉威科技 沪深300 相关研究 —汉威科技（300007.SZ）公司事件点评报告 公司近期发布 2024 年报及 2025 一季报：2024 年公司实现营 收 22.28 亿元，同比下降 2.61%，实现归母净利润 7668.03 万元，同比下降 41.38%。2025 一季报公司实现营收 6.03 亿 元，同比增长 1.54%，实现归母净利润 1693.60 万元，同比 增长 16.91%。对此，我们点 ...

Core Viewpoint - Company is focusing on its "Three Major and One Calculation" strategic layout to enhance its core business and explore new opportunities in the insurance and mobile information service sectors [2] Strategic Layout - The "Three Major and One Calculation" strategy involves extending the existing core business towards the front end of the industry chain, particularly in the insurance sector, emphasizing large insurance and health services [2] - Key projects for 2025 include online shopping malls, tumor rehabilitation management, and intelligent claims processing to enhance profitability [2] - In the mobile information sector, the company aims to improve core technical capabilities, refine management, and expand channel cooperation, leveraging 5G, big data, and cloud computing [2] Regulatory Compliance - The company acknowledges the significant impact of regulatory policies on its operations and emphasizes the importance of compliance as a fundamental aspect of its business strategy [3] - It plans to strengthen its compliance system and embed compliance awareness into every management aspect to mitigate operational risks [3] Dividend Policy - The company has proposed a cash dividend of 0.5 yuan per 10 shares for 2024, totaling 9.88 million yuan, which represents 104.18% of the average net profit over the last three years [4] - Future dividend policies will be aligned with business development plans to better serve shareholder interests [4] Innovation and Growth - The company is committed to the collaborative development of its core and innovative businesses, establishing new companies and teams to facilitate resource allocation for new business expansion [5] - It recognizes that innovation requires time and is focused on achieving breakthroughs while managing risks [5] Market Competition - The company is aware of the intense competition in the mobile information and insurance service sectors and has been integrating internal and external resources to enhance service capabilities [6] - It has maintained its market share despite increased competition through improved management and cost efficiency [6] Subsidiary Structure Optimization - The company has been optimizing its business structure by divesting certain subsidiaries and forming new companies as needed [7] - Future adjustments to the subsidiary structure may occur based on the main business's needs [7] Financial Performance - In 2024, the company reported revenue of 514 million yuan, a 15.6% increase, primarily driven by the insurance product business [10] - The net profit attributable to shareholders was 1.66 million yuan, a 95.68% decrease due to lower investment income from a subsidiary [10] - For Q1 2025, revenue reached 115 million yuan, a 12.91% increase, with net profit of 11.93 million yuan, a 351.23% increase due to asset disposals [10] Industry Outlook - The mobile information and insurance sectors are encouraged by national policies, presenting significant growth opportunities [13] - The company aims to adapt to industry changes and enhance its capabilities to achieve high-quality development [13]

毕业多年，新疆师范大学的校徽被穆志龙珍藏至今。新疆和塔吉克斯坦山水相连，穆志龙的家乡库洛布 与新疆仅一山之隔。无论身在何方，他始终关注着新疆这片曾经培育了他的热土。 "新疆发展日新月异。"由于工作关系，穆志龙回过新疆，也回过母校。"校园更大、更漂亮了。"平日 里，穆志龙从媒体上、从师友那里了解新疆的发展变化，"人工智能、大数据、物联网等日益成为推动 新疆经济发展的重要引擎。"同时，他也关注到，新疆产业发展日益向"双碳"目标迈进，新能源开发与 使用的不断推进，有效促进了新疆的绿色发展。 2009年9月10日——如今身为塔吉克斯坦总统翻译的阿穆尔丁·诺斯洛夫对这个日子印象很深。 "那年我19岁，怀揣无限期盼从杜尚别出发，乘飞机抵达乌鲁木齐。当日阳光明媚，飞机降落在机场 时，我的心情无比激动。"回忆起在新疆的经历，阿穆尔丁感慨万千。 阿穆尔丁曾是新疆师范大学与塔吉克斯坦合作建设的第一所孔子学院——塔吉克斯坦民族大学孔子学院 的首批学生。学习刻苦的他，于2009年来到新疆师范大学留学深造。从那时起，他为自己起了一个响亮 的中国名字——穆志龙。 起初，学汉字让穆志龙费了不少脑筋。"汉字笔画太复杂了！" 好在，新疆的壮美 ...

Core Viewpoint - The article provides an in-depth analysis of SMIC (Semiconductor Manufacturing International Corporation), focusing on its financial model and growth prospects, particularly in the context of China's semiconductor policies and market dynamics [1]. Financial Indicators - Revenue is projected to grow from $2.07 billion in 2017 to $23.04 billion in 2028, with a compound annual growth rate (CAGR) of 24.8%, driven by the expansion of 28nm and above mature process capacities, especially post-2020 due to global chip shortages and domestic semiconductor policies [2]. - Gross margin is expected to increase from 21.2% in 2017 to 26.1% in 2028, benefiting from scale effects in mature processes, although it remains significantly lower than TSMC's 55% during the same period [2]. - EBITDA is forecasted to rise from $730 million to $12.17 billion, with EBITDA margin improving from 35.5% to 48.5%, indicating enhanced operational efficiency [2]. Capital Expenditure - Capital expenditures (Capex) are set to reach $7.326 billion in 2024, increasing to $8.69 billion in 2025 and peaking at $9.622 billion in 2026, reflecting a CAGR of 18.4% from 2017 to 2028, which is higher than the revenue growth rate [3]. - 90% of Capex is allocated to equipment procurement, primarily for mature process technologies, with 10% for wafer fab infrastructure [4]. - High Capex leads to significant depreciation costs, projected to reach $3.742 billion in 2024, which will pressure profit margins [4]. Business Structure - The wafer business is the core revenue driver for SMIC, contributing approximately 93.2% of total revenue in 2018, expected to rise to 95% by 2024 [7]. - Revenue from the 12/14nm nodes has shown rapid growth, from nearly negligible in 2019 to an estimated $838 million in 2024, driven by increasing market demand [8]. - The 28nm node remains a significant revenue contributor, with expected revenue of approximately $1.145 billion in 2024, despite facing competitive pressures [9]. Capacity and Market Competitiveness - Total capacity is projected to reach 884,000 wafers per month in 2024, increasing to 941,000 in 2025, with major production bases in Shanghai, Beijing, Shenzhen, and Tianjin [13]. - The Shanghai facility focuses on advanced processes, while the Beijing plant targets mature processes, with a significant portion of Capex directed towards expanding capacity in response to rising automotive electronics demand [13]. - Risks include potential impacts from U.S. sanctions on equipment maintenance and over-reliance on policy subsidies, which could lead to price competition [13]. R&D Investment and Technological Innovation - R&D expenditures are expected to rise to $1.031 billion in 2024, accounting for 9.4% of revenue, with a focus on optimizing 14nm FinFET processes and developing IoT chips [16]. - Despite increased R&D spending, challenges remain due to U.S. sanctions limiting access to advanced equipment, resulting in lower yield rates for 14nm processes [16]. - The company aims to balance high R&D intensity with policy requirements, although the return on investment in R&D is projected to be below the cost of capital, indicating diminishing marginal returns [17][18].

高通（QCOM.O）于北京时间 2025 年 5 月 1 日上午的美股盘后发布了 2025 财年第二季度财报（截止 2025 年 3 月）： 以下为 高通 2025 财年第二季度业绩说明电话会纪要，财报解读请移步《高通：三星 "补血" 难续力，苹果 "拆台" 藏暗雷》 一、 $高通.US 财报核心信息回顾： | | | | | | QUALCOMM (QCOM.O) Q2 FY2025 Financial Performance | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | (in US$ million) | | | | | | | | | | | | | | Calendar Year | | 1Q23A | 2Q23A | 3023A | 4Q23A | 1Q24A | 2024A | 3Q24A | 4024A | 1Q25A Consensus | | A vs Cons | | Overview | Total Revenue | 9,275 | 8 ...

Core Insights - The company reported a revenue of 1.129 billion yuan for 2024, representing a year-on-year growth of 12.05%, while the net profit attributable to shareholders decreased by 10.56% to 201 million yuan [1] - In Q1 2025, the company achieved a revenue of 249 million yuan, a year-on-year increase of 10.41%, and a net profit attributable to shareholders of 42 million yuan, up 14.64% [1][2] Financial Performance - The company's revenue for 2024 was 1.129 billion yuan, with a gross margin of 41.73%, down 4.22 percentage points year-on-year [2] - R&D expenses increased by 27.69% in 2024, contributing to short-term profit pressure [2] - In Q1 2025, the gross margin improved to 43.61%, up 1.92 percentage points year-on-year, with significant reductions in sales, management, and R&D expense ratios [2] Product and Technology Development - The company is leveraging cutting-edge technologies such as IoT, software, 5G, and AI to expand into new sectors, including non-coal mining and chemicals [3] - The successful development of an underground autonomous mining vehicle by the end of 2024 marks a significant milestone, with initial acceptance of a project in collaboration with Shaanxi Coal Group [3] - A partnership with Xingshun New Materials for underground intelligent transportation, including autonomous electric vehicles and smart driving systems, indicates the expansion of autonomous operations in non-coal mining [3] Investment Outlook - The company is expected to see revenues of 1.354 billion, 1.612 billion, and 1.894 billion yuan from 2025 to 2027, with net profits of 256 million, 322 million, and 395 million yuan respectively [4] - A target price of 48.5 yuan is set based on a 25x PE ratio for 2025, maintaining a "recommended" rating [4]

数字化浪潮汹涌澎湃的时代，企业若想屹立不倒、勇立潮头，制定切实可行的数字化转型战略已成为当 务之急。 管理机制（如识别、评估和应对数字化转型过程中的技术风险、数据安全风险、组织变革风险 等）。确保数字化转型工作在可控的框架内顺利进行。 密切关注行业动态、技术发展趋势（如人工智能、大数据、物联网等新兴技术的应用趋势）、政策法规 变化（如数据安全法规、行业监管政策对数字化转型的影响）以及客户需求和行为的演变（如消费者对 个性化产品和服务的追求、线上购物和服务消费的增长趋势等）。把握市场机遇和潜在威胁，为数字化 转型提供战略依据。 七、持续监测和评估 企业制定数字化转型战略是一个系统且关键的过程，需综合考量多方面因素，以确保转型方向正确、目 标可行且与企业整体发展相契合。以下是一个详细的制定数字化转型战略的步骤： 建立一套与krtiesiwang.com化转型目标相匹配的关键绩效指标体系，用于衡量转型工作的进展和成效。 如数字化业务收入占比、客户满意度提升率、流程效率提升指标（如处理时间缩短比例、成本降低比例 等）、数据质量评分等。定期收集和分析相关数据，以便及时调整和优化转型策略。 一、深入评估企业现状 1. 业 ...

作者 | 远禾 数据支持 | 勾股大数 据（www.gogudata.com） 宠物所代表的 "它经济"，正在成为社会上不可忽视的一股潮流。 无论是越来越多的宠物友好商场、宠物友好公园，还是大街上的宠物推车逐渐超过婴儿车，年轻人对于宠物的热情，正在成为整个社会的共 识。 宠物殡葬成为热门服务，高铁宠物托运也逐渐设点，也折射出宠物经济不断升级的地位。 在资本市场上，宠物经济也一度狂飙。 4月7日以来，中宠股份股价上涨超50%，乖宝宠物上涨超30%。 Wind数据显示，自去年924行情以来，宠物经济指数已经上涨超60%。 拉长时间来看，自 2017年上市以来，中宠股份的股价由最低的6.52元/股，上涨至如今的56.45元/股，股价已上涨超8倍。 自 24年2月的最低点来看，如今，乖宝宠物的股价也已上涨近4倍。 然而，并非所有宠物经济相关企业均迎来大涨。 对比之下，佩蒂股份股价一直震荡下行。 "924"行情以来，佩蒂股份股价仅上涨近30%。 今年以来，佩蒂股份股价跌幅超过 10%。 作为曾经的 "宠物第一股"，佩蒂股份的"此消"和乖宝宠物的"彼长"，恰恰显现出了国内宠物市场的逐渐转型和升级。 | 01 | | -- ...

2025年 数码相机行业词条报告 国标分类/制造业/通用设备制造业/文化、办公用机械制 造/照相机及器材制造 Copyright © 2025 头豹 数码相机：记录生活的艺术家，像素与便携性的完美结合 头豹 词条报告系列 饶立杰 · 头豹分析师 2025-04-03 未经平台授权，禁止转载 行业分类： 制造业/照相机及器材制造 摘要 数码相机，是一种凭借传感器捕捉影像的现代照相设备，核心部件包括成像感光器件、微处理器及存储器等。它运用CCD或CMOS等电子传感器，将光学影像转化为电子数 据，并依据光线差异将其处理为可存储的电子信号。数码相机在摄影、影视制作、广告、新闻、商业摄影及旅游等多领域广泛应用，已成为现代影像记录不可或缺的工具。 全球数码相机市场主要由佳能、索尼、尼康、富士等知名品牌引领，未来，数码相机将趋向智能化，通过融合人工智能、物联网等技术，实现更多自动化、智能化的拍摄新 功能。 行业定义 数码相机是一种通过电子传感器记录影像的照相机，其包含了成像感光器件、微处理器、存储器等部件。数码相机利用电子传感器（如CCD 或CMOS）把光学影像转换成电子数据，再根据光线的不同转化为电子信号进行存储。数码相 ...