高能级建设赋能平台载体也是重点任务之一。苏州将加快建设国家人工智能应用中试基地，聚焦半 导体等重点领域构建一体化AI共性技术底座；打造制造业重点行业人工智能应用赋能中心，聚焦电子 信息等优势产业建设10个以上赋能中心；加强建设专业服务平台，加快智算中心建设，升级公共算力服 务平台功能，推动行业内非核心、通用类数据流通和使用。 此外，将高标准打造典型应用场景。苏州将加强场景供需对接，组织开展100场以上产品/技术路 演、应用供需对接等活动；遴选打造典型应用场景，编制应用指引，发布场景目录并宣传推广；推进智 能工厂梯度培育，推动4000家以上规上工业企业开展基础级智能工厂建设，600家企业开展先进级智能 工厂建设，择优培育15家以上卓越级智能工厂，积极探索建设领航级智能工厂。 苏州还将高品质打造智能终端产品，涵盖"AI+工业软件""AI+具身智能""AI+智能车联网"等多个领 域。 近日，《苏州市加快推进"AI+制造"创新发展行动方案（2025—2026年）》发布，促进人工智能与 先进制造业深度融合，加快建设人工智能赋能新型工业化先导区，打造全球具有领先地位的"智造之 城"。 根据该行动方案，到2026年底，苏州 ...

转自：新华财经 •国常会：听取实施大规模设备更新和消费品以旧换新政策情况汇报 研究释放体育消费潜力进一步推进 体育产业高质量发展的意见 •个人养老金领取"降门槛" 新增3种领取情形 9月1日起实施 •财政部：地方政府可统筹运用一般债券、专项债券等资金 用于PPP存量项目建设成本中的政府支出 •两部门：对按照育儿补贴制度规定发放的育儿补贴免征个人所得税 •三部门发布《互联网平台价格行为规则（征求意见稿）》 围绕"经营者自主定价""经营者价格标示行 为"等内容 为经营者价格行为提供明确指引 •7月全社会用电量同比增长8.6% 首破万亿千瓦时大关 •8月25日人民银行将开展6000亿元MLF操作 期限为1年期 •欧美公布联合声明 双方已就贸易协定框架达成一致 葡萄酒、烈酒关键诉求未获突破 【重点关注】 •美国政府收购英特尔约10%股份 成为大股东 【国内要闻】 •国务院总理李强8月22日主持召开国务院常务会议，听取实施大规模设备更新和消费品以旧换新政策情 况汇报，研究释放体育消费潜力进一步推进体育产业高质量发展的意见，审议通过《"三北"工程总体规 划》，部署开展海洋渔船安全生产专项整治工作。（新华社） •8月19日 ...

上海市加快机器人应用，小米汽车预计下半年盈利 [Table_Industry] 汽车周报 [Table_ReportDate] 2025 年 8 月 23 日 2 行业研究 [Table_ReportType 行业周报 | ] [Table_StockAndRank] 汽车 | | | --- | --- | | 投资评级 | 看好 | | 上次评级 | 看好 | 赵启政 汽车行业分析师 执业编号：S1500525030004 邮箱：zhaoqizheng@cindasc.com [上海市加快机器人应用， Table_Title] 小米汽车预计下半 年盈利 [Table_ReportDate] 2025 年 8 月 23 日 投资要点： ➢ 风险因素：政策推出力度不及预期、海内外汽车销量不及预期等。 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲 127 号金隅大厦 B 座 邮编：100031 请阅读最后一页免责声明及信息披露 http://www.cindasc.com 2 证券研究报告 [Table_S ➢ 行业重点新闻。 ummary] （1）上海：加 ...

核心观点 本周市场继续上冲，权重指数出现一定加速迹象，整个指数族涨势"雨露均沾"。展望 后市，上证指数已经突破 2021 年高点 3731 点并站上 3800 点大关，下一个中线目标有 望挑战 2015 年以来最大跌幅（5178-2440）的 0.618 分位，以当前位置看仍有较大空 间。考虑到短期攻势仍未有明确的停止迹象，我们建议适度忽略短线走势，并在重要 支撑（如 20 日、60 日均线）附近分别增加短线、中线配置。行业配置方面，继续采 取"大金融+泛科技"均衡配置（银行、非银等金融+军工/计算机/传媒/电子/电新等科 技成长），同时继续增加对前期落后板块地产的关注度；此外，注意积极挖掘年线上方 低位个股，做好板块内"高低切"操作。 ❑ 本周（2025-08-18 至 2025-08-22）行情概况 （1）主要指数：宽基指数集体收涨，科创 50 涨幅居前。（2）板块观察：TMT 四 杰强势领涨，周期红利明显落后。（3）市场情绪：沪深成交环比明显上升，股指 期货合约大多升水。（4）资金流向：两融余额明显上升，融资买入占比回落，股 票 ETF 净流出。（5）量化"黑科技"：创业板指估值相对较低，下跌能量模型处 ...

Economic News - The Ministry of Industry and Information Technology held a meeting on August 19 to discuss the photovoltaic industry, emphasizing the importance of regulating competition and promoting sustainable development [1] - The European Union plans to prepare a new round of sanctions against Russia by September, aiming to support Ukraine [1] - Shanghai's government released an implementation plan to accelerate the development of "AI + manufacturing," targeting the integration of AI technology into the manufacturing sector [1] - The People's Bank of China announced the latest Loan Prime Rate (LPR) on August 20, with the 5-year LPR remaining at 3.5% and the 1-year LPR at 3% [1] - The 24th meeting of special representatives on the China-India border issue was held in New Delhi, resulting in a 10-point consensus [1] - Hainan released a new management method for high-demand talent enjoying personal income tax preferential policies, optimizing the previous version [1] Company Insights - Apple has entered large-scale production of the iPhone 17, with Foxconn ramping up hiring at its Zhengzhou factory [6] - DeepSeek upgraded its online model to version 3.1, expanding context length to 128k [6] - NIO announced a price reduction of 20,000 yuan for its 100 kWh battery pack, effective August 19, which will lower the price of vehicles equipped with this battery [6] Market Analysis - The report indicates a gradual strengthening of a slow bull market, with the market breaking through the 3400-point level and showing increased trading activity [9] - The report suggests that the market is expected to target the 4000-point level, with a transition from a virtual to a real economy, providing a foundation for the slow bull market [10] - The focus for investment should be on large technology sectors, particularly in AI, robotics, and innovative pharmaceuticals, as these areas are expected to drive future growth [11] Company Performance - Daya Co. reported a 4.19% decrease in revenue for the first half of 2025, but achieved a net profit of 0.42 billion yuan, compared to a loss in the previous year [21] - The company’s gross profit increased by 30% in the first half of 2025, with a gross margin rising to 7.74% [22] - The company is investing approximately 1.485 billion yuan in a production base in Morocco, which is expected to enhance its international competitiveness and reduce shipping costs [24] - The company plans to achieve an integrated energy supply model by 2026, combining solar, wind, and biomass energy [25] Industry Trends - The lithium battery equipment industry is expected to see significant growth, driven by the demand for electric vehicles and energy storage solutions [34] - The report highlights the advantages of dry electrode technology over traditional wet methods, predicting a shift towards this technology in the future [38] - The overall market for solid-state battery equipment is projected to grow significantly, with a compound annual growth rate of 70% from 2024 to 2029 [37]

Market Overview - A total of 86 stocks hit the daily limit, with a limit-up rate of 80%, indicating strong market activity [1] - The Shanghai Composite Index, Shenzhen Component Index, and Sci-Tech Innovation 50 Index all reached new highs for the year, with the Shanghai index rising by 1.04% [1] - The total trading volume for the day was 2.41 trillion yuan, a decrease of 180.1 billion yuan from the previous trading day, marking the sixth consecutive day of over 2 trillion yuan in trading volume [1] Stock Performance - The highest-performing stock, Jimin Health, achieved a five-day limit-up streak, while other notable stocks included Hanzhong Precision and Kesen Technology with four consecutive limit-ups [1][3] - The market saw a mixed performance with over 3,600 stocks rising, while sectors like liquor, semiconductors, AI glasses, and small metals showed significant gains [1] - Conversely, sectors such as film, chemical pharmaceuticals, CRO, and vitamins experienced declines [1] Hot Stocks and Trends - The "AI + Manufacturing" initiative launched by Shanghai's economic and information departments is expected to boost the domestic AI infrastructure, leading to a surge in domestic computing power stocks [5] - Companies like Inspur Information and Guangxun Technology saw limit-up performances, reflecting strong market sentiment towards domestic AI capabilities [5] - Apple’s iPhone 17 has entered mass production, positively impacting the consumer electronics sector, with Kesen Technology achieving a four-day limit-up streak [6] Consumer Sector Insights - The State Council's recent meeting emphasized stimulating consumer potential and fostering new growth points in service and new consumption [7] - The liquor brand Jiu Gui Jiu saw a surge in stock price due to a successful collaboration with a popular retail brand, leading to consecutive limit-ups [7] - However, the consumer sector's upward momentum faced challenges as technology stocks regained strength, limiting the consumer sector's performance [8] Future Outlook - The market is expected to continue its upward trend, with major indices reaching new highs, although there is a need to be cautious of potential structural differentiation in market hotspots [9] - The recent increase in the number of stocks hitting the daily limit indicates a growing interest in specific sectors, but the risk of losses in high-priced stocks remains a concern [9]

Investment Rating - The industry investment rating is "Outperform" and is maintained [2] Core Insights - The report highlights the implementation plan for "AI + Manufacturing" in Shanghai, aiming to integrate AI deeply into the manufacturing sector over three years, targeting 3,000 manufacturing enterprises for smart applications and establishing 10 benchmark smart factories [5][6] - The market size for AI applications in the manufacturing sector in China is expected to reach 14.1 billion yuan by 2025, with a growth rate of over 40% since 2019 [7] - The report emphasizes the transformation of manufacturing from product-centric to user-centric models, enhancing operational efficiency and meeting personalized consumer demands [7] Summary by Sections Industry Overview - The closing index level is 5445.3, with a 52-week high of 5445.3 and a low of 2805.53 [2] AI + Manufacturing Initiatives - The Shanghai government plans to promote AI integration in manufacturing, focusing on industrial software, humanoid robots, and smart consumer terminals [6] - Specific goals include developing industrial software capabilities, deploying humanoid robots in high-risk work environments, and upgrading AI consumer electronics [6] Market Potential - AI's impact on manufacturing is projected to reduce R&D cycles by approximately 20.7%, increase production efficiency by about 34.8%, and lower defect rates by around 27.4% [7] - The report indicates a shift towards flexible production to cater to individual consumer needs, marking a significant change in service models within the industry [7] Investment Recommendations - Suggested companies for investment include those in AI industrial software, robotics, and AI consumer terminals, such as Dingjie Zhishi, HanDe Information, and Xiaomi Group [8]

Market Performance - The market continues to show weakness, with the Shanghai Composite Index down 0.06%, the Shenzhen Component down 0.66%, and the ChiNext Index down 1.71% at midday [1] - Over 3,400 stocks declined across both markets, with a total trading volume of 1.51 trillion yuan [1] Sector Performance - High-position stocks experienced significant declines, including multiple stocks hitting the daily limit down, such as Huasheng Tiancheng [3] - The fourth-generation semiconductor sector is undergoing adjustments, with Hengzhou Development hitting the limit down and Dongwei Semiconductor down 3.69% [3] - Data center power supply, Huawei Ascend, software development, and CRO sectors saw notable declines [3] - Consumer stocks, particularly in the liquor sector, rebounded, with Jiugui Liquor achieving two consecutive limit up [3] - Non-ferrous metal concept stocks showed strong fluctuations, with Luoping Zinc Electric hitting the limit up [3] - AI glasses concept stocks were active, with Kosen Technology achieving four consecutive limit up [3] - Sectors such as tourism, 3D cameras, and dairy products showed significant gains [3] Policy and Economic Developments - The State Council's ninth plenary session emphasized the need to continuously stimulate consumer potential and systematically remove restrictive measures in the consumption sector [3] - The Ministry of Finance plans to issue 12.5 billion yuan in government bonds in Hong Kong in August [3] - The Shanghai Municipal Economic and Information Commission, along with two other departments, released an implementation plan to accelerate the development of "AI + manufacturing" [3]

Group 1 - The implementation plan titled "Accelerating the Development of 'AI + Manufacturing' in Shanghai" was officially released on August 19, aiming to deeply integrate AI technology with the entire manufacturing industry chain and scenarios, creating a new high ground for digital transformation in manufacturing [1][3] - Fourth Paradigm, a pioneer in enterprise-level AI, focuses on "vertical industry large models" and has successfully delivered and validated value in key scenarios such as industrial production, ports, and high-end equipment manufacturing [1][2] - In the industrial sector, Fourth Paradigm's vertical model integrates industry knowledge to optimize production processes, enabling real-time monitoring, fault prediction, energy efficiency optimization, and scheduling decisions, significantly enhancing production efficiency and equipment utilization while reducing operational costs [1][2] Group 2 - In smart port construction, Fourth Paradigm's port industry model and intelligent applications address operational scheduling challenges in traditional complex systems, creating an efficient collaborative intelligent port system that supports the development of world-class ports [2] - In high-precision manufacturing, such as aircraft component design, Fourth Paradigm utilizes AI to assist engineers in rapid design and simulation, handling complex multi-variable constraints and accelerating design iterations while optimizing key performance indicators [2] - The release of the implementation plan injects new development momentum into the "AI + Manufacturing" sector in Shanghai and nationwide, with Fourth Paradigm poised to play a more significant role in the new round of industrial intelligence processes due to its long-term focus and technological accumulation in vertical industries [3]

Market Overview - The market experienced fluctuations with the ChiNext index leading the decline. The total trading volume in the Shanghai and Shenzhen markets was 1.51 trillion yuan, a decrease of 135 billion yuan compared to the previous trading day. Over 3,400 stocks fell, indicating a broad market downturn [1] - The Shanghai Composite Index fell by 0.06%, the Shenzhen Component Index decreased by 0.66%, and the ChiNext Index dropped by 1.71% [1] Sector Performance - Consumer stocks, particularly in the liquor sector, showed signs of rebound, with companies like JiuGuiJiu achieving consecutive gains. Other liquor stocks such as SheDe JiuYe and YiLiTe saw increases exceeding 5% [4][1] - The non-ferrous metal sector showed strength, with stocks like LuoPing Zinc Electric and Dongfang Zirconium hitting the daily limit. The AI glasses concept stocks were also active, with KeSen Technology achieving four consecutive gains [1][9] - High-priced stocks collectively experienced significant declines, with several stocks hitting the daily limit down [1] Individual Stock Highlights - A total of 53 stocks hit the daily limit up (excluding ST and newly listed stocks), with a sealing rate of 68%. Notable stocks included KeSen Technology with four consecutive gains and YuanLin Shares with three consecutive gains [1] - In the liquor sector, JiuGuiJiu achieved two consecutive gains, while other notable performers included JinZhongZi Jiu and YingJia Gong Jiu [1][4] AI Glasses and Technology - The AI glasses sector is gaining traction, with KeSen Technology achieving four consecutive gains. Other companies like XingXing Technology and SanAn Optoelectronics also saw significant increases [10][11] - The Shanghai Municipal Economic and Information Commission announced an implementation plan to accelerate the development of "AI + manufacturing," which includes promoting AI consumer terminals like AI glasses [17][25] Conclusion - The market is currently in a phase of adjustment, with a shift in funds from high to low sectors. The consumer sector, particularly liquor and tourism, is showing resilience, while technology sectors like AI glasses are gaining attention due to supportive government policies [1][17]