*免责声明：文章内容仅供参考，不构成投资建议 公司方面，据中证报表示，A股相关概念股主要有屹通新材 、立中集团等。 据中证报报道，由中国航发自主研制的3D打印极简涡喷发动机，近日圆满完成首次飞行试验，标志着 3D打印发动机在工程应用领域取得重要突破。本次飞行试验持续30分钟，飞行高度达6000米，最大飞 行速度0.75马赫，发动机全状态工作，各项工作参数无异常，圆满完成我国自主研制3D打印极简涡喷发 动机，首次唯一动力单发飞行试验。 中证报指出，3D打印产业正从技术验证阶段迈入规模化应用的黄金发展期。当前呈现"工业级主导、消 费级崛起"的双轨发展格局。2024年全球3D打印市场规模已达219亿美元，中国市场规模约415亿元人民 币。预计到2030年，全球市场规模将突破840-1150亿美元，年复合增长率保持在20%-30%左右，中国 3D打印市场有望在2030年突破千亿级规模。中国凭借完整的产业链基础和政策支持，正从"原型制 造"向"直接制造"转型，有望在全球3D打印产业中占据重要地位。 *风险提示：股市有风险，入市需谨慎 ...

Core Viewpoint - DJI's investment in a 3D printing company is confirmed, driven by the belief in the growth potential of consumer-grade 3D printing technology and the industry, aligning with its innovative technology philosophy and forward-looking strategy [1] Industry Summary - The 3D printing industry is entering an accelerated growth phase, with companies like Meituan and GaoLing already participating in the market [1] - According to Precedence Research, the global 3D printing market is expected to reach a size of $24.61 billion by 2024, with a compound annual growth rate (CAGR) of 18.5% projected from 2024 to 2034, indicating a high-speed growth trend in the industry [1]

Core Viewpoint - The defense and military industry is expected to experience another upward trend due to multiple influencing factors, including geopolitical risks, technological advancements, and policy support [1]. Group 1: Market Performance - The military sector has continued its strong performance, with notable stocks such as Aerospace Development (000547) and Great Wall Military (601606) showing significant gains, including a net inflow of 1.828 billion yuan [1]. - The average stock price increase for military concept stocks this year is 30.94%, with North China Long Dragon leading with a 342.24% increase [2]. - Six military concept stocks have received institutional research attention in November, indicating strong interest from investors [2]. Group 2: Company Performance - Major companies in the military sector, including China Shipbuilding (600150) and AVIC Chengfei (302132), reported net profits exceeding 1 billion yuan in the first three quarters [3]. - Several companies, such as Zhenray Technology and North China Long Dragon, have turned losses into profits, with some achieving over 100% year-on-year profit growth [3]. - Institutions predict that nine military stocks will see significant profit increases by 2025, with expected growth rates exceeding 100% [3]. Group 3: Future Outlook - The military industry is poised to benefit from rising geopolitical risks, modernization goals, and expanding military trade markets, with high-end weapon exports expected to increase [1]. - Technological innovations, such as 3D printing and recyclable rockets, are anticipated to drive growth in the sector [1].

Group 1 - The establishment of Taizhou Yanxiangyuan Intelligent Label Co., Ltd. has been officially registered with a legal representative named Lu Zhigen and a registered capital of 1 million RMB [1] - The company’s business scope includes various licensed projects such as intelligent building system design and printing services for packaging and other printed materials, which require approval from relevant authorities [1] - General business activities encompass technology promotion and application services, sales of packaging materials and products, 3D printing services, graphic design, and various office supplies sales [1] Group 2 - The company is also involved in engineering and technical research and development, as well as providing technical services, consulting, and technology transfer [1] - Additional services include sales of electronic products, office equipment maintenance, and internet sales of non-licensed goods [1] - The company’s operations are subject to legal compliance and must adhere to the approved business activities as per the business license [1]

记者13日从中国航发集团获悉,由中国航发自主研制的3D打印极简涡喷发动机,圆满完成首次飞行试验,标 志着3D打印发动机在工程应用领域取得重要突破。据介绍,该款发动机采用3D打印制造技术,整机超过四 分之三重量的零件均采用3D打印制造,大幅减少了零件数量,实现了轻量化、高性能的设计目标,为下步更 高高度与速度飞行打下坚实基础。 央视 ...

Group 1 - The core viewpoint is that 3D printing is accelerating its penetration in the consumer electronics sector, with applications in foldable device hinges and watch/mobile phone frames expected to initiate a new era [1] - The reduction in AI training and inference costs is driving application prosperity, with significant potential in edge AI, where headphones and glasses may become important carriers [1] - The launch of the Apple AI Phone is setting trends, and the upgrade of AI features may stimulate a replacement cycle for devices [1] Group 2 - In the semiconductor industry, global sales are projected to reach $208.4 billion by Q3 2025, reflecting a quarter-on-quarter growth of 15.8%, driven significantly by demand for memory and logic chips, particularly in the Asia-Pacific and Americas regions [1] - Domestic equipment is making continuous breakthroughs in advanced processes, with "advanced process expansion" expected to be a key focus for the next three years, highlighting the importance of CoWoS and HBM in the context of AI trends [1] - SanDisk's performance indicates that NAND demand exceeds supply, with inventory turnover days decreasing, and a continued supply shortage is anticipated until the end of 2026 [1] Group 3 - The passive components, digital SoC, RF, storage, and packaging/testing sectors are showing clear signs of recovery, with the packaging segment's utilization rate rebounding, benefiting from the advanced packaging demand driven by AI chips [1] - The AI wave is leading to an explosion in computing power demand, enhancing the value across servers, AI chips, optical chips, storage, and PCBs [1] Group 4 - The Chip ETF (512760) tracks the China Semiconductor Index (990001), which selects listed companies involved in semiconductor materials, equipment, design, manufacturing, packaging, and testing from the Shanghai and Shenzhen markets [2] - This index focuses on the information technology sector, emphasizing the trends of domestic semiconductor industry replacement and technological innovation, with a selection of constituent stocks based on industry representation and technological advancement [2]

Core Insights - Global semiconductor sales are projected to reach $208.4 billion in Q3 2025, reflecting a quarter-on-quarter growth of 15.8%, driven by increased demand for memory and logic chips, particularly in the Asia-Pacific and Americas regions [1] - The adoption of 3D printing in consumer electronics is accelerating, marking the beginning of applications such as foldable device hinges and frames [1] - The reduction in AI training and inference costs is fostering application growth, with significant potential in edge AI, where headphones and glasses may become important carriers [1] - The NAND storage sector is experiencing a supply shortage, with SanDisk expecting this trend to continue until the end of 2026, while DRAM prices are on the rise [1] - The testing segment is seeing increased utilization rates, benefiting from the surge in demand for advanced packaging driven by AI chip requirements [1] Industry Overview - The Xinchang ETF (159537) tracks the Guozhen Xinchang Index (CN5075), which selects listed companies in the semiconductor, software development, and computer equipment sectors from the Shanghai and Shenzhen markets to reflect the overall performance of the Xinchang industry [1] - This index exhibits a large-cap style and focuses on innovation and development within the information technology sector, effectively representing the comprehensive market performance of companies in this field [1]

Group 1 - The core viewpoint of the article highlights a significant increase in global semiconductor sales, projected to reach $208.4 billion in Q3 2025, with a quarter-on-quarter growth of 15.8%, driven by rising demand for memory and logic chips, particularly in the Asia-Pacific and Americas regions [1] - The acceleration of 3D printing in consumer electronics is expected to mark a new era, with applications in foldable device hinges and frames [1] - The AI wave is driving an explosion in computing power demand, enhancing the value across various segments including servers, AI chips, optical chips, storage, and PCBs, with advanced packaging technologies like CoWoS and HBM becoming increasingly important [1] Group 2 - SanDisk's financial report indicates that NAND demand is outpacing supply, leading to a decrease in inventory turnover days, with expectations of continued supply shortages until the end of 2026; storage prices are recovering from their lows, and the packaging and testing sector is gradually improving [1] - There is a notable recovery trend in passive components, digital SoCs, and RF sectors, while domestic equipment continues to advance in breakthrough and validation of advanced processes, positioning "advanced process expansion" as a key focus for the next three years [1] - The potential of edge AI is significant, with headphones and glasses likely to become important carriers for AI agents, as training and inference costs decrease, fostering the prosperity of AI applications [1] Group 3 - The Consumer Electronics ETF (561310) tracks the Consumer Electronics Index (931494), which selects listed companies involved in the manufacturing of consumer electronics such as smartphones, wearable devices, and smart home products, reflecting the overall performance of securities closely related to daily consumer electronics [1] - This index is characterized by outstanding growth potential and rapid technological iteration [1]

Group 1: Technological Innovations - The 3D printed turbojet engine developed by China Aviation Engine Group successfully completed its first single-engine flight test, marking a significant breakthrough in engineering applications of 3D printed engines. The test lasted 30 minutes, reached an altitude of 6000 meters, and achieved a maximum speed of 0.75 Mach, with all operational parameters normal [3] - The world's first wind-fish integrated floating platform, "Guoneng Sharing," has recently achieved a new round of success. This platform combines offshore power generation and underwater fish farming, with a total height of 24 meters and a weight of 4900 tons. It can produce up to 16 million kilowatt-hours of electricity annually, reducing carbon emissions by approximately 16,000 tons [6] - The world's largest high-altitude wind power generation kite, with an area of 5000 square meters, successfully completed its test in Inner Mongolia, marking significant progress in large-scale land-based high-altitude wind power generation projects [11][13] Group 2: Logistics and Transportation - The Huahu International Airport, located in Hubei Province, has become Asia's largest air cargo hub, with international cargo flights exceeding 10,000 flights in 2025, representing a year-on-year increase of 93.6%. The airport features a highly advanced runway sensing network and an intelligent sorting line capable of processing over 280,000 packages per hour with a sorting accuracy of 99.99% [10] Group 3: Telecommunications - China has completed the first phase of 6G technology testing, establishing over 300 key technology reserves. The 6G promotion group has conducted 57 tests across five major technology directions, with 6G now entering the international standard research phase, expected to launch commercial deployment around 2030 [10]

Core Viewpoint - Boqian New Materials has experienced a stock price increase of 76.01% year-to-date, but has seen a recent decline in the last five and twenty trading days, indicating potential volatility in its stock performance [1][2]. Financial Performance - For the period from January to September 2025, Boqian New Materials achieved a revenue of 805 million yuan, representing a year-on-year growth of 10.79% [2]. - The net profit attributable to shareholders for the same period was 152 million yuan, showing a significant year-on-year increase of 78.17% [2]. Shareholder Information - As of September 30, 2025, the number of shareholders for Boqian New Materials increased by 18.44% to 21,000, while the average number of tradable shares per person decreased by 15.57% to 12,434 shares [2]. - The company has distributed a total of 374 million yuan in dividends since its A-share listing, with 249 million yuan distributed over the past three years [3]. Stock Market Activity - On November 14, Boqian New Materials' stock price fell by 2.03% to 50.69 yuan per share, with a trading volume of 23.45 million yuan and a turnover rate of 0.18% [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the last occurrence on February 20 [1]. Business Overview - Boqian New Materials, established on November 5, 2010, and listed on December 8, 2020, specializes in the research, production, and sales of high-end metal powder materials for electronics [1]. - The revenue composition of the company includes nickel-based products (76.28%), copper-based products (10.27%), silver powder (4.95%), and alloys (2.16%) [1].