西部证券 20250806 摘要 Q&A 西部证券在当前经济转型背景下的投资逻辑是什么？ 西部证券的投资逻辑可以概括为三点。首先，西部证券受益于区域发展的东风。 陕西省作为科教资源大省，拥有丰富的高校和科研院所资源，科创企业数量和 高新技术企业数量保持高速增长。西安高新技术企业数量达到 1.5 万家，成为 西部第一城。此外，陕西省政府高度重视科创产业的发展，通过政策支持和财 政投入推动科技成果向经济优势转化。 其次，西部证券正在稳步推进并购国融 证券，实现优势互补，包括区域互补、投行、新三板、北交所业务能力的互补， 以及强化自营固收能力，加速打造一流的综合投资银行。 最后，公司积极推进 业务转型，通过定增、配股及并购提升资本实力，以支持重资本业务扩张，同 时在轻资本业务方面逐步向专业化、机构化转型。 陕西省在科创产业发展方面取得了哪些成就？ 陕西省在科创产业发展方面取得了显著成就。首先，高校资源丰富，全省有三 所 985 高校和八所 211 高校，其中西安拥有 63 所高校，本科浓度位居全国第 二，仅次于北京。其次，截至 2023 年底，西安拥有 65 个纳入科技统计的科 研机构、7 个国家重点实验室和 14 ...

Group 1 - The article highlights the development and innovation landscape of the Putuo District in Shanghai, showcasing its focus on digital technology and robotics as key future industries [1][2] - Putuo District has established a unique advantage in Shanghai's innovation layout by gathering 16 national and municipal research institutes, along with several universities and technology research platforms [2] - The district aims to create more opportunities for companies to engage closely with its innovation ecosystem, particularly in key industries such as R&D services, life sciences, intelligent software, and technology finance [3] Group 2 - The visit from executives of listed and pre-listed companies reflects the growing interest in Putuo District's vibrant and potential-rich innovation landscape [2][3] - The district's "Chinese Wushu" innovation industry layout is noted for its clear positioning and differentiated pathways, contributing to its vitality in Shanghai's innovation map [2] - The ongoing development of the Shanghai Urban Safety Brain project by Changfeng Digital Technology Co., Ltd. emphasizes the importance of cybersecurity in the district's innovation strategy [1]

Group 1 - The article highlights the emergence of six innovative technology companies in Hangzhou, referred to as the "Six Little Dragons," symbolizing the city's transformation into a hub for technological innovation [1][7] - Hangzhou's innovation ecosystem is supported by a vast network of startups and established industry leaders, emphasizing the need for financial support from various sources, including angel investments and large asset management [1][2] - The local government plays a crucial role in fostering a favorable business environment for tech startups, providing incentives and support services that encourage innovation and growth [4][6] Group 2 - The shift from "wild growth" to "high-quality development" in Hangzhou's financial sector is characterized by a focus on larger investments in established industries, enhancing the overall innovation landscape [2] - The government has implemented several forward-looking policies to promote strategic emerging industries, including the establishment of large-scale industry funds to support innovation [11][12] - The integration of capital and industry is being actively pursued, with recommendations for collaboration between government funds and leading enterprises to strengthen the innovation ecosystem [13][14] Group 3 - The article emphasizes the importance of capital in empowering technology companies, enabling them to grow and compete effectively in the market [16][17] - Hangzhou has become a gathering place for major industry leaders, supported by a robust financial infrastructure that facilitates the growth of both small startups and large enterprises [16][17] - The synergy between innovation and capital is seen as a driving force behind Hangzhou's emergence as a significant player in the tech industry [17]