国网大同供电公司以电网为平台统筹引导规模化数据中心在新能源富集区域集约建设，推动"稳定供 电"向"稳定供绿电"发展，逐步实现"就地发电、就地计算"，形成了突出的"绿色算力"优势。目前，该 公司积极探索开展绿电直连模式，预计试点算力中心用能成本可降低8%。 当前，新一轮科技革命催生出大数据、云计算、人工智能、物联网、区块链等新技术，随着大模型训练 算力需求指数级攀升，电力供应安全性挑战日益凸显。《中国综合算力指数报告（2024）》显示，山西 省进入全国综合算力指数前八名，大同市进入城市算力分指数前三名，综合算力指数稳居全国第一方 阵。国网山西省电力公司常态化跟踪算力产业的规划布局与落地计划，动态开展承载力分析，优化区域 网架结构，保障数据中心电力可靠供应。 塞北变身蓝海 "绿电算力"崛起 大同市承担着山西省80%以上的数据中心建设任务，被纳入"环首都算力走廊"，2024年入选国家级数据 标注基地建设城市。2019年至2024年，大同市相继引入秦淮、中联、京东、抖音等大型数据中心，大数 据产业飞速发展。大同市互联网数据服务业用电量占全省互联网数据服务业用电量的比重逐年提升，由 0.09%增长至96.78%，成为山 ...

Core Insights - The e-book market in China is experiencing a downturn, with a reported 12.9% decline in online sales in 2023, following the exit of Kindle from the market [4] - Despite the challenges, the e-ink display technology is gaining traction, particularly in the context of eye health concerns, as the number of myopia and dry eye patients continues to rise [6][12] - The e-ink market is evolving, with domestic brands like Huawei and Wenshi actively filling the gap left by Kindle, leading to a surge in new product launches [5][4] Market Dynamics - The e-ink display segment is witnessing significant growth, with global shipments of electronic paper modules expected to reach 123 million units in Q1 2025, marking a 176.5% year-on-year increase [7] - The Chinese market is also seeing a rise in e-ink tablet shipments, with a 71.9% increase to 660,000 units [7] - The demand for e-ink displays is being driven by their advantages in eye protection, low power consumption, and long battery life, making them suitable for prolonged use in educational and office settings [6][9] Technological Advancements - The integration of AI technology is enhancing the functionality of e-ink devices, transforming them into productivity tools for office use, with features like voice-to-text and meeting summaries [13][12] - E-ink displays are expanding beyond reading into various applications, including electronic shelf labels and creative work environments, indicating a diversification of use cases [7][14] Competitive Landscape - The exit of Kindle has opened up opportunities for domestic brands to capture market share, with companies like Wenshi and iFlytek leading the charge in the e-ink segment [5][4] - The market is expected to become increasingly competitive, with potential new entrants, including major players like Apple, who may look to capitalize on the growing e-ink trend [15] - The future of e-ink devices will depend on both hardware performance and software capabilities, as brands strive to meet consumer demands for comprehensive solutions [17]

午盘中证1000里9只涨停股，中证2000里28只涨停股，放量上攻的更是一大堆，因此比三大宽基指数走的都要强，分别收涨0.47%和0.72%。 小盘指数给力，对应的指增产品也获得大额资金流入。数据显示，1000ETF增强（159680）今天上午获得一笔300万的大额申购，近两个交易日共计获得 2243万的净流入。 2000增强也是，比较热门的中证2000增强ETF（159552）年内份额一直在稳步增长。 此外，数据还显示，从今年年初至6月25日，1000ETF增强（159680）和中证2000增强ETF（159552）分别跑赢标的指数7.36%、13.41%，超额收益都很优 秀。 这背后的动力，源自三重引擎的推动： 01 流动性与政策的双轮驱动 宽松货币政策如同小微盘的"加速器"。年内多次降准降息后，市场流动性持续充裕，对利率敏感的小微企业率先受益。 政策端更是送来东风，并购重组新规为众多专精特新企业打开成长空间，而密集出台的AI、机器人、军工、半导体、医药等产业政策，也恰好覆盖了中证 1000/2000指数中绝大部分成分股。 02 增强策略的收益"炼金术" 最好主仓搭配一下红利或银行平衡风险，体验感会更好。 ...

数字货币概念股午后进一步拉升，信安世纪、科创信息（300730）20cm涨停，拉卡拉（300773）、长 亮科技（300348）、新晨科技（300542）涨超10%，楚天龙（003040）、格尔软件（603232）、京北方 （002987）多股涨停。香港特区政府今日（26日）发表《香港数字资产发展政策宣言2.0》，重申特区 政府致力将香港打造成数字资产领域中的全球创新中心。 暗盘资金正涌入这些股票，点击速看>>> ...

"累计服务客户数已超6800万"，网商银行在自己的十岁生日这天给出了这样一组数据，也为自己十年的 金融服务打下了一个深刻的注脚。 过去十年，是网商银行逐步成长的十年，也是中国从世界工厂走向了智造强国的十年。这十年间，中国 建成了全球最完备的工业体系。在这段历史进程中，网商银行摸索产业金融、农村金融的赋能方式，将 金融活水滴灌至产业末梢，与时代同频共振。 未来十年，AI技术无疑将重塑各行各业的格局，引领生产力快速发展。技术变革当前，网商银行又将 如何行动？"不做大而全的跟风者，要成为小微金融的AI深耕者"，网商银行党委书记、董事长金晓龙坚 定表示。他强调道，网商银行将聚焦科技应用，博采众长，集成最先进的大模型技术，深度融合于信 贷、理财等核心产品，让小微金融更顺利、更高效。 过去十年：与时代同频 从2015年至2025年，网上零售额从2.7万亿飙升至15.23万亿，中国网民规模从6.49亿增长至11.08亿。互 联网的变更改变了人们的生活方式，"线上"成为越来越多人的选择。 数字化的新时代自然催生了数字化的金融需求。回望，2015年的6月25号，彼时，网商银行正式成立。 在那时，线上贷款还不是主流，没有抵押、没 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 28.81 CNY, corresponding to a market capitalization of 6.425 billion CNY [5][38]. Core Insights - The company is expected to benefit significantly from the launch of Nintendo Switch 2, with a diversified layout in full-scene display modules and a strong technological reserve in Mini/Micro-LED [4][37]. - The company has successfully transitioned from a focus on mobile backlighting to mid-size products, enhancing its revenue structure with high-margin gaming and tablet products [2][29]. Company Overview - Shenzhen Nanjiguang Electronic Technology Co., Ltd. was established in 2009, focusing on the R&D, production, and sales of LED backlight products, with applications in smartphones, tablets, gaming, automotive displays, and medical devices [1][12]. - The company has a stable ownership structure, with the founders holding a combined 39.03% of shares, ensuring control and liquidity [1][14]. Business Transformation and Growth Engines - The company is shifting from traditional mobile backlighting, which saw a revenue share drop from 91.15% in 2022 to lower levels due to declining LCD market share and increased competition [2][27]. - In 2024, the company became the exclusive supplier of backlight modules for the Nintendo Switch 2, meeting stringent technical requirements and driving a shift towards higher-margin products [2][29]. Financial Performance - The company faced a downturn from 2020 to 2023, with a net loss of 305.25 million CNY in 2023, but is projected to return to profitability in 2024 with a net profit of 20.63 million CNY [3][39]. - The gross margin is expected to improve significantly, rising from -3.47% in 2023 to 16.24% in 2024 and 26.97% in Q1 2025 [3][39]. Investment Recommendations - The company is anticipated to achieve net profits of 257 million CNY, 353 million CNY, and 457 million CNY from 2025 to 2027, benefiting from the anticipated sales of the Switch 2 exceeding expectations [4][38]. - The report highlights the potential for the company to expand its influence in the industry and attract high-end clients due to its successful collaboration with Nintendo [4][38].

Investment Rating - The report maintains a positive outlook on the controllable nuclear fusion industry, indicating an "Overweight" rating, suggesting that the industry is expected to outperform the overall market [3][9]. Core Insights - The report highlights the acceleration of the industrialization process in the controllable nuclear fusion sector, driven by continuous technological breakthroughs, supportive policies, and rapid domestic bidding processes [3]. - The report emphasizes that nuclear fusion is regarded as the "ultimate energy" source due to its high energy density, environmental cleanliness, and the abundance of raw materials, making it a necessary choice for future energy solutions [3]. - The report identifies two main investment lines: exploring core supporting entities related to nuclear fusion projects and focusing on high-barrier and high-value segments within the industry chain [3]. Summary by Sections Industrial Developments - Shanghai Superconductor, a leading enterprise in high-temperature superconducting materials, has received approval for its IPO, aiming to raise 1.2 billion yuan to build a new factory, which is expected to add 6,000 kilometers of production capacity annually [3]. - The company reported a revenue of 240 million yuan in 2024, a year-on-year increase of 187.40%, and a net profit of 73 million yuan, marking a significant turnaround [3]. Financial Developments - China National Petroleum Corporation Capital plans to invest 655 million yuan in Kunlun Capital for controllable nuclear fusion projects, indicating strong financial backing for the industry [3]. Key Investment Targets - The report lists several key companies to watch, including: - Superconducting Magnet Systems: Western Superconductor, Yongding Co., Jingda Co., and Lianchuang Optoelectronics - Casing Systems: Guoguang Electric, Hezhu Intelligent, Antai Technology, and Yingliu Co. - Power Systems: Xuguang Electronics, Sichuang Electronics, Guoli Co., and Aike Saibo [3][4].

Group 1: Overview of Stablecoins - Stablecoins are blockchain-based digital currencies designed to maintain a stable value, primarily used as a medium of exchange in the cryptocurrency market[2] - Since 2014, stablecoins have evolved through exploration, diversification, and regulatory improvements, with major economies like the EU, Singapore, and the US advancing legislation[2] - The US stablecoin market may increase demand for the dollar but cannot reverse the trend of de-dollarization[2] Group 2: Types and Mechanisms - Stablecoins can be categorized into four types: fiat-collateralized, commodity-collateralized, crypto-collateralized, and algorithmic[5] - Fiat-collateralized stablecoins, like USDT and USDC, maintain stability by being backed 1:1 by fiat reserves, primarily the US dollar[21] - Algorithmic stablecoins, such as UST, rely on market mechanisms to maintain their value but are subject to significant risks, as seen in the UST collapse[6] Group 3: Market Trends and Future Outlook - The stablecoin market has seen rapid growth, with USDT and USDC having market capitalizations of $155.5 billion and $61.6 billion, respectively, as of June 2025[21] - Regulatory frameworks for stablecoins are being developed globally, with the US focusing on enhancing national credit backing for stablecoins[7] - Future trends may include accelerated legislative progress for stablecoins, increased use in real-world asset transactions, and potential competition with Central Bank Digital Currencies (CBDCs)[7]

MACD金叉信号形成，这些股涨势不错！ 本周A股市场连续三个交易日放量大涨，上证指数创出年内新高，A股总市值逼近百万亿大关，创下历 史新高。6月25日，在大金融等全板块带动下，三大指数全线上涨，创业板指数涨3%，军工、券商、软 件等板块爆发。整个A股市场超过3900只股票上涨，80只股票涨停，市场成交额达到1.64万亿元。6月26 日周四，沪深两市继续反弹，市场信心得到提振，市场情绪逐步回暖，投资者风险偏好提升。特别是港 股部分券商获得加密货币交易服务等利好消息推动，出现放量暴涨，某龙头券商甚至上涨数倍，极大地 激发了券商板块的投资热情，很多券商股大幅上涨。作为行情风向标的券商股被称为牛市旗手，在券商 股大涨带动下，市场信心得到提振，资金流入股市意愿增强，下半年A股市场和港股市场有望迎来新一 波行情。 不过，目前仍面临一些外部不确定因素，如国际关系仍存在一定不确定性，中东冲突虽近期停火，但仍 有反复可能，这些会增加下半年市场波动。但随着稳经济增长政策逐步落地，下半年我国经济面将逐步 企稳回升，经济数据有所改善，经济回升是股市回升基础，下半年A股和港股将延续结构性行情。以人 形机器人为代表的科技板块有望成为领涨 ...

他认为，尽管宇树科技近几年成长得很快，但随着国内人形机器人研发赛道日益拥挤，他也感受到了市 场竞争带来的压力。 国家市场监管总局发布的数据显示，截至2024年12月底，中国共有45.17万家智能机器人产业企业，注 册资本共计64445.57亿元，企业数量较2020年底增长206.73%，较2023年底增长19.39%，呈稳健上扬态 势。 在谈及人形机器人的市场开拓时，王兴兴表示，目前，工业和农业应用发展速度相对更快一些。家庭应 用场景也具有很大的想象空间，但现阶段仍充满挑战性。 "如果今年或明年，（宇树科技）在产品上或技术上停滞了，那么我们很快就会变成一家平庸的公司， 这是不可避免的。" 26日，在世界经济论坛第十六届新领军者年会（夏季达沃斯论坛）期间，宇树科技首席执行官王兴兴表 示，在过去的一年里，机器人是除人工智能（AI）之外，最受全球市场关注的行业领域。但目前，具 身智能还没有到达可以大批量应用的时间节点。现阶段，对于宇树科技而言，"保持技术和产品持续创 新"的压力或超过服务市场的开拓。如果将技术还不成熟的产品就"硬推"给市场，公司可能会面临巨大 亏损。 据王兴兴透露，作为一家2016年成立的机器人公司 ...