gen alliffifthing. t 陈明 ◎记者 柴刘斌 实习生 吴子悠 一条红绳串起十颗石子，轻轻翻转，便从"项链"化作一道"石拱桥"。上海欧本钢构建筑集团有限公司 （简称"欧本钢构建筑集团"）董事长、在抖音拥有36.5万粉丝的陈明，用这个简单的小实验，将建筑力 学中的"悬链线拱"原理娓娓道来，生动而清晰。 陈明已在钢结构行业深耕27年。他不仅带领团队突破技术壁垒，首创甲壳框架系统等核心产品，更积极 开拓海外市场，在行业变革中持续探寻新增长极，为企业注入持久的发展动能。 "城市是由建筑构成的，没有建筑就没有城市。盖房子，是世界上最重要的事之一。"陈明表示，公司始 终致力于为客户提供更高性价比的建筑结构解决方案，努力打造一家以结构创新为特色的、专业一体化 的建筑企业集团。 "分享者"与"创业者"的双面人生 "这个动作其实是'找形'——翻转之后它就成了拱。原本处处受拉，一旦形成悬链线拱，力学行为就彻 底改变……"打开陈明的抖音主页，906条视频没有华丽特效，只有扎实而朴素的知识分享。 "前几个月去匈牙利见客户，一进办公室就有三个人认出我，说工程圈里常刷到我的视频。"陈明笑着说 道。他逐渐清晰了自己视频的受 ...

Core Insights - The article emphasizes the importance of investing in industries that are in an upward trend or full of opportunities, particularly in the innovative pharmaceutical sector [1] - It highlights that innovative drug research must be based on solid data, as high-quality data ultimately translates into significant commercial value [2] - The selection criteria for innovative drugs focus on whether the product has global competitiveness and addresses unmet clinical needs [3] Investment Performance - The Fuqun Pharmaceutical Innovation Fund, managed by Wang Chao, has shown remarkable performance, ranking second among its peers within a year of its establishment [2] - As of June 30, 2025, the fund has achieved a nearly 30% increase in the Hong Kong Innovative Drug Index and a 17% rise in the Innovative Drug Industry Index [1] Investment Philosophy - Wang Chao's investment strategy is characterized by a concentrated portfolio, with the top ten holdings accounting for 60%-70% of the fund [3] - The investment approach is driven by deep research and focuses on identifying high-value long-term holdings [3] Background of the Fund Manager - Wang Chao has over a decade of experience in the pharmaceutical industry, transitioning from research and consulting to investment [5][6] - His background in drug development has provided him with a unique advantage in understanding the critical factors that drive value in innovative drug investments [6][7] Methodology for Investment - The investment philosophy includes three main principles: selecting the right direction, targeting unmet clinical needs, and ensuring global competitiveness [11][13] - Wang Chao emphasizes the importance of rigorous data tracking and analysis in the investment process, believing that excellent data will eventually yield productivity [10] Future Outlook - Wang Chao expresses confidence in the future of China's innovative drug industry, noting that it is at a turning point from quantitative to qualitative change [20] - He identifies three key areas for future breakthroughs: combination innovation, small molecule drugs, and new modalities such as small nucleic acid drugs and cell therapies [21]

Core Viewpoint - The article emphasizes Shenzhen's rapid transformation into a leading hub for the new energy vehicle (NEV) industry, highlighting the city's unique ecosystem and the pivotal role of key players like BYD and Huawei in driving innovation and growth in the automotive sector [2][18]. Industry Overview - The automotive industry is experiencing a significant shift, with Shenzhen emerging as a key player in the NEV market, achieving a production volume of 2.9353 million NEVs in 2024, a year-on-year increase of 69.2% [4][5]. - The city aims to solidify its position in global markets by enhancing its competitiveness in electronics, automotive, and new energy sectors through initiatives like the "ICT+" action plan [3]. Key Players and Innovations - BYD has established itself as a leader in the global NEV industry, with a focus on vertical integration of core components such as batteries, motors, and electronic controls, enhancing its resilience to market changes [6][10]. - Huawei, while not manufacturing vehicles, has become an integral part of the automotive supply chain, leveraging its ICT expertise to provide solutions for various car manufacturers [4][6]. Technological Advancements - The article discusses the emergence of a "networked" supply chain structure in the NEV sector, allowing for "emergent innovation" where more supply chain companies take on leading roles [6][16]. - Innovations such as BYD's blade battery and the e-platform 3.0 are highlighted as key technological advancements that contribute to the competitive edge of Shenzhen's automotive industry [10][12]. Infrastructure Development - Shenzhen has built a comprehensive charging infrastructure, becoming the world's first "supercharging city" with over 13,400 new charging piles and 1,030 supercharging stations [8]. - The city is also advancing in smart transportation, with initiatives like the "car-road-cloud integration" project, which aims to enhance the synergy between vehicles, infrastructure, and digital technologies [14][15]. Future Outlook - The Shenzhen government plans to achieve an industrial output value of over one trillion yuan for the automotive sector by 2025, indicating strong growth potential [18]. - The article concludes that Shenzhen's unique innovation culture and engineering talent will continue to drive the city's automotive industry forward, positioning it as a model for the future of global NEV development [19][20].