曾是华北平原的一方水土 如今 它以静水深流的战略定力 承接"千年大计" 又以只争朝夕的建设节拍 见证日新月异 "未来之城"雄安 转自：北京日报客户端 这里 正悄然拔节生长 一座城的理想蓝图 从容落笔于华北平原之上 站在岁末回望 镜头如同多棱镜 折射出"未来之城"的多元魅力 拔节之姿 "十四五"以来 雄安新区每年保持2000亿元投资规模 地区生产总值年均增长17.1% 一年一个节点 位于雄安新区启动区的中国中化大厦（左）（2025年7月17日摄，无人机照片）。中化大厦是雄安新区 地标性建筑之一，是首批疏解央企中国中化控股有限责任公司的总部大楼，其设计灵感源于白洋淀"金 中国星网雄安总部办公楼（2025年6月29日摄，无人机照片）。中国星网集团成立于2021年4月，是中央 批准成立的一家从事卫星互联网设计建设运营的国有重要骨干企业，也是首家注册落户雄安新区的中央 企业。 每年一个模样 新区不仅是北京非首都功能疏解的集中承载地 也在打造新时代高质量发展的全国样板 航拍镜头下的雄安 是妙笔，是震撼 更是奇迹 雄安新区启动区（2025年9月17日摄，无人机照片）。雄安新区启动区规划面积38平方公里，是先行开 发、率先见 ...

据国家能源局预测，到2035年我国风电和光伏总装机容量预计将达36亿千瓦，未来十年新增潜力达19亿 千瓦。随着这一进程的不断推进，电力将逐步成为一种供应充裕、边际成本极低的基础生产要素。通过 电力多元转换技术，丰富的绿色电力可进一步转化为氢、氨等能源载体或工业原材料，为突破资源与环 境约束、实现可持续发展开辟广阔前景。 新华财经上海12月21日电（记者 李荣）我国在全球大宗商品生产中已占据举足轻重的地位，工业生产 的底层逻辑正发生根本性改变，经济增长空间在高度和宽度上将各有侧重。20日在上海召开的"2026钢 铁市场展望暨'我的钢铁'年会"上，业内专家认为，在中国经济增长的新格局下，识别、培育并利用好 增长优势尤为重要。 上海钢联电子商务股份有限公司董事长朱军红认为，回望过去，中国的重化行业取得了举世瞩目的成 就。如今，我国在全球大宗商品生产中已占据举足轻重的地位。传统"高能耗、高物耗"的发展模式已接 近增长极限，行业转型势在必行。在此背景下，能源转型成为行业破局的历史性机遇。 他认为，经济增长空间可以理解为高度和宽度。高度决定了可能达到的增长速度，宽度决定了实际能够 实现的增长速度。目前国内相对于"高度"来 ...

Core Insights - The eighth China International Import Expo (CIIE) successfully concluded on November 10, showcasing the evolution of financial services from basic cross-border settlement support to a comprehensive service ecosystem that enhances trade negotiations, investment promotion, and financial connections [1][2] Financial Services Evolution - Financial institutions have transformed from mere participants to deep enablers, providing a seamless consumer experience during the expo [1] - Major state-owned banks upgraded their services to ensure a comprehensive support system throughout the entire event process, from pre-expo to post-expo [2] Service Innovations - The Industrial and Commercial Bank of China (ICBC) formed a three-dimensional service matrix by integrating volunteers from various branches to enhance customer service [2] - China Construction Bank (CCB) improved its service network with a focus on convenience, including the installation of a self-service currency exchange machine [2] - Bank of Communications (BoCom) enhanced its international service capabilities by opening "foreign-related service windows" at key branches, significantly improving account opening efficiency [3] Technology Integration - The introduction of a humanoid robot named "Jian Xiao Ai" at CCB's branch exemplifies the integration of technology in customer service, providing multilingual support and intelligent responses [4] - Financial institutions utilized advanced technologies like 5G and big data to create tangible service experiences, enhancing customer engagement [4] Cross-Border Financial Services - China Bank established a comprehensive cross-border financial service ecosystem, integrating data, intelligence, and services to facilitate trade and financing [5] - Banks acted as bridges for cross-border cooperation, helping foreign enterprises enter the Chinese market while supporting Chinese companies in their global expansion [6] Support for Trade and Investment - China Bank supported numerous overseas promotional activities to assist foreign enterprises in entering the Chinese market, showcasing China's commitment to high-level openness [6] - CCB launched a comprehensive financial service plan for enterprises going abroad, covering various cross-border needs throughout the business lifecycle [6] High-Quality Development - Bank of Communications introduced a one-stop cross-border financial service platform aimed at enhancing the efficiency of international trade and providing stability to global supply chains [7] - The integration of finance, technology, and real-world scenarios is emphasized as a means to drive service innovation and support sustainable business growth [7]

Core Insights - Ningbo Zhongdali Intelligent Transmission Co., Ltd. showcased its latest intelligent drive solutions at the 2025 DMP Greater Bay Area Industrial Expo in Shenzhen, which gathered over 1,200 manufacturing enterprises and is expected to attract more than 120,000 professional visitors [1][2] - The company highlighted its advanced products, including DC and AC gear motors, planetary gear reducers, and precision cycloidal pinwheel reducers, which meet industry-leading standards in precision retention, transmission efficiency, and service life [1][2] - The precision cycloidal pinwheel reducer, a representative product, demonstrates significant technological breakthroughs in core processes, featuring optimized tooth shape design and special material treatment processes, meeting the stringent requirements of industrial robots for precision transmission [1][2] Industry Trends - The expo reflected the ongoing progress of domestic enterprises in the core component sector, emphasizing the increasing importance of core components as the manufacturing industry transitions towards intelligent and green development [2] - Zhongdali is committed to continuous technological research and process innovation to enhance product performance and quality stability, providing reliable power transmission solutions for downstream applications [2] - The company plans to strengthen its technical research and process improvements to promote high-quality development in the manufacturing sector [2]

Core Insights - The electronic information manufacturing industry is a key sector for modern industrial systems and plays a crucial role in developing new productive forces and promoting new industrialization [2] - From January to August this year, the industry experienced rapid growth, with a year-on-year increase of 10.8% in added value for large-scale electronic information manufacturing [2] - The Ministry of Industry and Information Technology and the State Administration for Market Regulation have jointly released the "Action Plan for Stable Growth of the Electronic Information Manufacturing Industry (2025-2026)," presenting new development opportunities for the sector [2] Industry Growth and Policy Response - The electronic information manufacturing industry is showing a positive development trend, with a 9.9% year-on-year increase in added value in August alone [2] - Several listed companies are actively responding to policy guidance by exploring AI-enabled business transformations and technological innovations to address industry challenges [2][5] AI Integration and Technological Innovation - TCL Technology has made significant strides in integrating AI with terminal products, focusing on low-power display technologies to address power consumption issues [5] - The company has developed an AI architecture that enhances manufacturing processes, achieving an 85% reduction in defect detection rates and over 90% efficiency improvement in product development cycles [5] - Hytera, a leader in professional communication equipment, is also exploring deep integration of AI into its communication solutions, enhancing public safety and low-altitude communication capabilities [6] Supply Chain and Core Technology Development - Hytera has focused on ensuring supply chain stability and core technology independence, achieving over 80% localization of core materials and enhancing performance compared to imported products [8] - The company has established a multi-layered protection system for supply chain security and has increased R&D investments to develop key components in collaboration with leading domestic enterprises [8] Addressing Industry Competition - The "Action Plan" emphasizes the need to address "involution" in the industry, with companies like TCL Technology and Hytera committing to promoting healthy competition and innovation [10] - Hytera advocates for value-based competition, focusing on product reliability and safety while calling for long-term development strategies in the industry [10] - TCL Technology is implementing differentiated strategies across its business sectors to strengthen its market position and enhance performance through acquisitions [11]

Financial Performance - The company reported total revenue of 171 million yuan for the first half of 2025, a decrease of 14.76% year-on-year [1] - The net profit attributable to shareholders was 25.96 million yuan, down 30.42% compared to the previous year [1] - The gross margin was 26.49%, a decline of 6.65% year-on-year, while the net margin was 15.21%, down 18.37% [1] - The company’s accounts receivable reached 118.39% of the net profit, indicating a significant amount of receivables relative to earnings [7] Cash Flow and Financial Ratios - Operating cash flow improved by 95% due to better collection efficiency on project payments [4] - The company’s return on invested capital (ROIC) was 7.61%, which is considered average [5] - The company’s total liabilities and financial health indicators suggest a strong cash position [6] Industry Context - The petrochemical industry is crucial for the national economy, characterized by long supply chains and high capital intensity [8] - Investment in the chemical raw materials and products manufacturing sector grew by 8.6% year-on-year, while the oil and gas extraction sector saw a decline of 1.8% [9] - The industry is undergoing a transformation towards green and smart technologies, with a focus on high-quality development [8] Competitive Position - The company has a strong brand reputation and technical expertise in the petrochemical engineering sector, focusing on differentiated competition [11] - It operates in a strategic location in the Yangtze River Delta, a key area for the petrochemical industry in China [11] - The company has a robust order backlog, with contracts worth 277 million yuan yet to be fulfilled [12] Future Outlook - The company aims to maintain its existing business while exploring new opportunities in coal chemical projects and overseas markets [13][16] - The strategic focus includes enhancing operational quality and efficiency, with a dual approach of industrial operations and capital management [17]

Core Insights - The forum focused on the strategic significance of brain-computer interface (BCI) technology in future technological development and industrial transformation [1] - Nearly a hundred experts and scholars from various fields participated, discussing the latest research and clinical applications of BCI technology [1] Group 1: Forum Overview - The 27th China Association for Science and Technology Annual Conference featured a specialized forum on brain-computer interfaces and intelligent innovation [1] - The forum was hosted by the China Association for Science and Technology and organized by the Chinese Rehabilitation Medicine Association [1] Group 2: Key Presentations - Zhao Jizong from the Chinese Academy of Sciences presented on clinical experimental research related to BCIs [3] - Yan Tianyi from Beijing Institute of Technology discussed non-invasive neural modulation technologies and their applications [5] - Liu Hesheng, Chief Scientist at Changping Laboratory, reported on brain function localization and regulation [5] - Chen Xun from the University of Science and Technology of China presented on multi-source neural signal computation [7] - He Huiguang from the Chinese Academy of Automation discussed visual restoration and reconstruction based on BCIs [7] - Shan Chunlei, Dean of the Rehabilitation Research Institute at Shanghai Jiao Tong University, shared insights on the empowerment of functional rehabilitation through BCIs [9] - Li Yuanqing from South China University of Technology highlighted BCIs as a frontier technology benefiting humanity [9] - Wu Wen from Southern Medical University discussed the application of BCI technology in motor rehabilitation [11] Group 3: Expert Discussions - Following the main presentations, experts engaged in discussions on topics such as the accuracy of neural signal encoding and decoding, the development of invasive and non-invasive BCIs, and the standardization of BCI technology [20] - The discussions also covered the exploration of talent cultivation models for BCI technology [20]

Core Insights - The IPRdaily report reveals that Chinese home appliance brands dominate the top five positions in the global smart home invention patent rankings, with Haier, Midea, and Gree making significant appearances [1][2]. Group 1: Patent Rankings - Haier leads the list with 2,208 patents, followed closely by Samsung with 2,092 and LG with 2,089. Midea and Gree rank fourth and fifth with 1,832 and 1,640 patents, respectively [2]. Group 2: Market Growth - The global smart home market has seen substantial growth, increasing from $52.8 billion in 2018 to a projected $154.3 billion by 2024, reflecting a compound annual growth rate (CAGR) of 19.57%. The market is expected to reach $250.6 billion by 2029, indicating strong and sustained growth potential [2]. Group 3: Innovation and R&D - Haier's strong R&D capabilities are highlighted by its 17 National Science and Technology Progress Awards, making it a leader in the industry with over 200 original technologies that have been imitated [2]. - Midea is diversifying its business model, maintaining its advantages in traditional appliances while actively expanding into B2B sectors, covering energy-saving technologies and smart control systems [3]. - Gree continues its specialized development in air conditioning and refrigeration technologies, focusing on core components like compressors and motors, successfully extending its expertise into smart home applications [3]. Group 4: Industry Impact - The emergence of these Chinese home appliance companies not only enhances the global image of "Made in China" but also promises to deliver more innovative smart home products to consumers worldwide [3].

Core Viewpoint - The company reported strong financial performance for 2024, with revenue of 24.71 billion and a year-on-year growth of 41.1%, and a net profit of 2.11 billion, up 30.9% year-on-year, exceeding previous expectations [1] Financial Performance - In Q1 2025, the company achieved revenue of 5.99 billion, representing a year-on-year increase of 36.9%, and a net profit of 0.50 billion, which is a 59.6% increase year-on-year [2] - For 2024, the company's energy storage business revenue grew by 184%, with significant contributions from various product categories [2][3] - The revenue breakdown for 2024 shows charging storage, smart innovation, and smart audio categories generating 12.67 billion, 6.34 billion, and 5.69 billion respectively, with year-on-year growth rates of 47.2%, 39.5%, and 32.8% [2] Product and Market Development - The company has focused on continuous innovation and product iteration, launching new energy storage solutions such as the SOLIX Solarbank 2 and SOLIX X1 for overseas markets [3] - Online and offline revenue for 2024 reached 17.60 billion and 7.11 billion respectively, with year-on-year growth of 43.0% and 36.7%, highlighting the effectiveness of both independent and third-party platforms [3] Cost and Profitability Metrics - The gross margin for 2024 was 43.7%, a slight increase of 0.1 percentage points year-on-year, attributed to product structure optimization [3] - The sales expense ratio was 22.5%, up 0.3 percentage points year-on-year, mainly due to increased marketing and platform costs [3] - The net profit margin for 2024 was 8.6%, down 0.7 percentage points year-on-year [3] Future Outlook and Valuation - The company forecasts net profits of 2.416 billion, 2.828 billion, and 3.344 billion for 2025-2027, with corresponding EPS of 4.55, 5.32, and 6.29 [4] - Due to increased tariff risks, revenue and profit expectations for 2025 and 2026 have been adjusted downward [4] - The company maintains a "buy" rating with a target price of 100.1, based on a 22x PE for 2025 [4]