新华财经北京12月31日电（胡晨曦） 2025年最后一个交易日，A股三大指数涨跌不一，沪指全天震荡微 涨0.09%，录得11连阳；创业板指则震荡下挫。截至今日收盘，沪指报3968.84点，涨幅0.09%，成交额 约8295亿元；深成指报13525.02点，跌幅0.58%，成交额约12157亿元；创业板指报3203.17点，跌幅 1.23%，成交额约5491亿元。 从今日的盘面上看，航天航空、航空机场、教育、互联网服务、计算机设备、文化传媒板块涨幅居前， 医药商业、船舶制造、电池、石油行业、半导体板块跌幅居前。 纵观2025全年，沪指于10月28日一举突破4000点大关，创下近十年新高，全年收涨18.41%；深证成指 全年收涨29.87%；创业板指全年大涨49.57%；科创50指数全年涨35.92%，北证50指数全年涨38.8%。A 股总市值跃升至近109万亿元，年内新增近23万亿元，一举刷新历史纪录。个股同样表现亮眼，胜宏科 技、新易盛、中际旭创等多只科技龙头全年涨幅超过3倍。板块方面，CPO、存储芯片、商业航天、有 色金属等方向领涨。 机构观点 巨丰投顾：周三市场震荡运行，卫星互联网板块涨幅居前。从目前趋势 ...

万家国证航天航空行业ETF（159208）成立日期2025年4月28日，最新规模2.51亿。成立以来收益 35.31%。 12月31日，光启技术跌1.05%，截至发稿，报48.95元/股，成交5.76亿元，换手率0.54%，总市值1054.67 亿元。光启技术股价已经连续3天下跌，区间累计跌幅4.33%。 资料显示，光启技术股份有限公司位于广东省深圳市南山区粤海街道麻岭社区高新中一道9号软件大厦 三层，成立日期2001年7月18日，上市日期2011年11月3日，公司主营业务涉及新一代超材料尖端装备产 品的研发、生产及销售。主营业务收入构成为：超材料产品99.23%，其他0.34%，超材料研发业务 0.25%，其他(补充)0.18%。 从基金十大重仓股角度 数据显示，万家基金旗下1只基金重仓光启技术。万家国证航天航空行业ETF（159208）三季度增持 38.09万股，持有股数48.84万股，占基金净值比例为9.77%，位居第一大重仓股。根据测算，今日浮亏 损失约25.4万元。连续3天下跌期间浮亏损失109.4万元。 责任编辑：小浪快报 万家国证航天航空行业ETF（159208）基金经理为贺方舟。 截至发稿，贺 ...

Core Insights - In 2025, China's technological innovation continues to thrive, with significant advancements in various fields such as artificial intelligence, quantum information, life sciences, and clean energy, contributing to high-quality development and improved living standards [1] Group 1: Fundamental Research - China has achieved new heights in fundamental scientific research, with multiple results breaking international records and filling gaps in various fields [2] - The Jiangmen Underground Neutrino Observatory (JUNO) has successfully measured two key parameters of neutrino oscillation with a precision 1.5 to 1.8 times better than previous international standards [2] - A team from the Chinese Academy of Sciences has created five types of two-dimensional metals with single-atom thickness, marking a significant breakthrough in material science [3] - As of August 2025, China leads the world with 2,342 hot papers, accounting for 53.2% of the global total, and ranks second in highly cited papers [3] Group 2: Cutting-edge Technologies - In quantum computing, the "Zuchongzhi 3" prototype has been developed, featuring 105 readable qubits and achieving speeds surpassing the fastest supercomputers [4] - The AI model DeepSeek-R1 has been released, achieving performance comparable to top global models with fewer computational resources, marking a shift in AI development strategies [4] - The number of AI companies in China has exceeded 5,300, representing 15% of the global total, establishing a comprehensive industrial system [4] Group 3: Robotics and Aerospace - The humanoid robot industry is rapidly emerging, with significant public demonstrations showcasing advancements in embodied intelligence [5][6] - The Tianwen-2 probe has been successfully launched, marking China's first asteroid sampling and comet flyby mission, filling a technological gap in small celestial body exploration [6] - The EAST nuclear fusion experiment has achieved a world record of 1 million degrees Celsius for 1,066 seconds, validating the feasibility of steady-state operation for fusion reactors [6] Group 4: Life Sciences and Resource Utilization - In life sciences, breakthroughs in pest control and cancer treatment have been made, promoting green and precise pest management and developing new strategies for nasopharyngeal cancer immunotherapy [8] - The South-to-North Water Diversion Project has delivered over 80 billion cubic meters of water, benefiting 185 million people and addressing groundwater over-extraction issues [9] - China's high-speed rail technology has set new records, with the CR450 train achieving a single-column speed of 453 km/h, leading the world in rail technology [9] Group 5: Global Collaboration - China is leading global renewable energy development, with solar and wind power surpassing fossil fuels in new electricity generation [10] - Major scientific projects like the Jiangmen Neutrino Experiment are open to global collaboration, attracting top scientists to tackle significant scientific challenges [10] - China is sharing technological advancements in public health and agriculture, contributing to global governance improvements [11]

Group 1 - The core point of the news is that China Satellite experienced a decline of 2.93%, with its stock price at 85.42 yuan per share, a trading volume of 550 million yuan, and a turnover rate of 0.54%, resulting in a total market capitalization of 1010.08 billion yuan [1] - China Satellite, officially known as China Dongfanghong Satellite Co., Ltd., is located in Haidian District, Beijing, and was established on August 21, 1997, with its listing date on September 8, 1997. The company's main business involves aerospace manufacturing and satellite applications, with revenue composition being 97.01% from aerospace manufacturing and satellite applications, 1.71% from other sources, and 1.28% from leasing income [1] Group 2 - From the perspective of major fund holdings, Huashan Fund has one fund heavily invested in China Satellite. The Huashan Guozheng Aerospace Industry ETF (159267) held 175,300 shares in the third quarter, accounting for 3.07% of the fund's net value, making it the eighth largest holding. The estimated floating loss today is approximately 452,300 yuan [2] - The Huashan Guozheng Aerospace Industry ETF (159267) was established on July 21, 2025, with a current scale of 211 million yuan and a cumulative return of 13.84% since inception [2]

Core Insights - In 2025, China's technological innovation continues to thrive, with significant advancements in various fields such as artificial intelligence, quantum information, life sciences, and clean energy, contributing to high-quality development and improved living standards [1] Group 1: Fundamental Research - China has achieved new heights in fundamental scientific research, with multiple results breaking international records and filling gaps in various fields [2] - The Jiangmen Underground Neutrino Observatory (JUNO) has successfully measured two key parameters of neutrino oscillation with a precision 1.5 to 1.8 times better than previous international standards [2] - The Chinese Academy of Sciences' team has developed a unique "atomic-manufactured van der Waals squeezing technology," successfully creating five types of two-dimensional metals, marking a significant breakthrough in the field [3] - As of August 2025, China leads the world with 2,342 hot papers, accounting for 53.2% of the global total, and ranks second in high-citation papers with 76,271, representing 37.41% of the world share [3] Group 2: Cutting-edge Technologies - China has made remarkable progress in quantum computing, with the release of the "Zuchongzhi 3" superconducting quantum computing prototype, which outperforms the fastest supercomputers [4] - In artificial intelligence, the DeepSeek-R1 model has achieved performance comparable to top global models with fewer computational resources, marking a shift in AI development strategies [4] - The number of AI companies in China has surpassed 5,300, accounting for 15% of the global total, establishing a comprehensive industrial system [4] Group 3: Robotics and Aerospace - The embodied intelligent robot industry is rapidly emerging, with significant public demonstrations of robots at major events [5] - The Tianwen-2 probe successfully launched, marking China's first asteroid sampling and comet flyby mission, filling a technological gap in small celestial body exploration [6] - The EAST nuclear fusion experiment has achieved a world record of 1 million degrees Celsius for 1,066 seconds, validating the feasibility of controlled nuclear fusion energy [6] Group 4: Life Sciences and Resource Utilization - In life sciences, breakthroughs in pest control and cancer treatment have been achieved, promoting green and precise pest management and developing new strategies for nasopharyngeal cancer immunotherapy [8] - The South-to-North Water Diversion Project has delivered over 80 billion cubic meters of water, benefiting 185 million people and addressing groundwater over-extraction issues [9] - China's high-speed rail technology has set new records, with the CR450 train achieving speeds of 453 km/h, leading the world in operational efficiency [9] Group 5: Global Collaboration - China's innovation is characterized by open collaboration, contributing to global technological progress, particularly in renewable energy, which has surpassed fossil fuels in new electricity generation [10] - The DeepSeek model has been made available globally, leading to widespread adoption and recognition in various industries [10] - China has taken the lead in establishing international guidelines in healthcare and agriculture, enhancing global public health and agricultural safety [11]

Core Insights - China has made significant advancements in various fields of technology and innovation, achieving notable breakthroughs in artificial intelligence, quantum information, life sciences, and clean energy, contributing to high-quality development and improved living standards [8][11][15]. Group 1: Fundamental Research - The Jiangmen Underground Neutrino Observatory (JUNO) has commenced operations, achieving a measurement precision of key neutrino oscillation parameters that is 1.5 to 1.8 times better than previous international standards, aiding in understanding the origins of neutrino mass [9]. - A team from the Chinese Academy of Sciences has successfully created five types of two-dimensional metals with single-atom thickness, filling a 20-year gap in the field and paving the way for low-power electronic devices and new quantum phenomena [9]. - As of August 2025, China has produced 2,342 hot papers, accounting for 53.2% of the global total, and ranks first in international citations across nine disciplines, indicating a significant increase in the quality of foundational research [10]. Group 2: Cutting-edge Technologies - The "Zuchongzhi 3" superconducting quantum computing prototype has been released, featuring 105 readable qubits and 182 coupled qubits, outperforming the fastest supercomputers in quantum random circuit sampling [11]. - The AI model DeepSeek-R1 has been launched, achieving performance comparable to top global models with fewer computational resources, marking a shift in AI development strategies [11]. - The humanoid robot industry is rapidly developing, with significant achievements in mass production and performance, showcasing China's capabilities in this field [12]. Group 3: Energy and Communication - The EAST nuclear fusion experiment has achieved a world record of 1 million degrees Celsius for 1,066 seconds, validating the feasibility of steady-state operation for fusion reactors [13]. - A team from Peking University has developed a compact optical-electronic integrated adaptive high-speed communication chip, capable of handling full-band resources with data transmission rates exceeding 120 Gbps, laying the groundwork for 6G technology [14]. Group 4: Technological Breakthroughs for Quality of Life - Research on locust pheromones has led to the development of specific small-molecule inhibitors, transitioning pest control from chemical reliance to a greener, more precise approach [15]. - The South-to-North Water Diversion Project has delivered over 80 billion cubic meters of water, benefiting 185 million people and addressing groundwater over-extraction issues in North China [16]. - China's high-speed rail technology has set new records, achieving a single-column speed of 453 km/h, enhancing travel convenience and comfort for the public [16]. Group 5: Open Cooperation and Global Contribution - China has led the global renewable energy sector, with solar and wind energy surpassing fossil fuels in new electricity generation, contributing significantly to climate change mitigation efforts [17]. - The DeepSeek model has been made available globally in an open-source format, gaining widespread adoption and recognition [17]. - China's advancements in high-speed rail and water management technologies are being shared internationally, providing solutions for global transportation and resource allocation challenges [17].

Market Overview - The A-share market showed mixed performance on December 29, with the Shanghai Composite Index closing up 0.04% at 3965.28 points, while the Shenzhen Component Index and the ChiNext Index fell by 0.49% and 0.66%, closing at 13537.10 points and 3222.61 points respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was 21,393 billion yuan, a slight decrease of 209 billion yuan from the previous trading day [1] - The market saw 1,995 stocks rise, with 87 hitting the daily limit, while 3,332 stocks fell, with 25 hitting the lower limit [1] Sector Performance - The chemical fiber, petroleum, diversified finance, and aerospace sectors led the gains, while energy metals, pharmaceutical commerce, batteries, electronic chemicals, traditional Chinese medicine, and the power sector experienced significant declines [1] - The robotics sector saw a strong rally, particularly in PEEK materials and exoskeleton robots, following the establishment of a standardization committee for humanoid robots and embodied intelligence technology by the Ministry of Industry and Information Technology [2] Individual Stock Highlights - Aerospace Hangyu, a commercial aerospace concept stock, surged by 20%, with its main business focusing on aerospace products, satellite communication, and testing equipment [3] - The company reported earnings per share of 0.13 yuan and a net profit of 51.48 million yuan for the third quarter of 2025, reflecting a year-on-year growth rate of 0.56% [3] - Aerospace Hangyu has secured a contract worth 246 million yuan for a mobile tail-end docking work platform and a full-machine flexible docking system from Shanghai Aircraft Manufacturing Co., and has become a major supplier to state-owned enterprises in the aerospace sector [3] Technical Analysis - Despite the Shanghai Composite Index achieving a nine-day winning streak, recent trading sessions have shown long upper shadows, indicating significant selling pressure and a lack of momentum in the index's upward movement [3] - The MACD indicator is showing a shortening of the red bars, and the KDJ indicator's J line is turning downward, suggesting potential market weakness ahead [3]

转自：新华财经 新华财经北京12月29日电（王媛媛）29日A股三大指数涨跌不一，沪指微涨走出九连阳，创业板指一度 跌超1%。截至收盘，沪指报3965.25点，涨0.04%，成交9038亿元；深证成指报13537.10点，跌0.49%， 成交12355亿元；创业板指报3222.61点，跌0.66%，成交5440亿元。 板块方面，化纤行业、石油行业、多元金融、航天航空板块涨幅居前，能源金属、医药商业、电池、电 子化学品、中药、电力行业跌幅居前。 消息面上 盘面上，机器人概念午后表现活跃，步科股份20cm涨停创历史新高，五洲新春、模塑科技等多股涨 停。商业航天概念延续强势，神剑股份8连板，金风科技、雷科防务等十余股涨停。碳纤维概念表现活 跃，吉林化纤、和顺科技双双涨停。下跌方面，电池、乳业、电力等板块跌幅居前。其中电池概念午后 震荡下挫，华盛锂电跌超7%。电力板块持续走弱，国电电力跌近8%。 机构观点 巨丰投顾：周一市场震荡运行，PEEK板块涨幅居前。2025年，A股市场在政策驱动下完成筑底反转， 由"叙事牛"向"产业牛"的关键切换已然发生。展望2026年，"十五五"规划扬帆起航，市场核心驱动力正 从"资产重估"逐 ...

Core Viewpoint - NASA's new administrator, Jared Isaacman, announced plans for the U.S. to return to the Moon during President Trump's second term, emphasizing the importance of lunar exploration for establishing an "orbital economy" [1] Group 1: Lunar Exploration Plans - The U.S. aims to return to the Moon within three years, with opportunities for building space data centers and infrastructure, as well as mining helium-3 for potential nuclear fusion energy [1] - NASA is collaborating with contractors like SpaceX, Blue Origin, and Boeing on the Artemis program, which not only focuses on lunar missions but also prepares for future Mars missions [1] Group 2: Artemis Program Timeline - The Artemis program has confirmed four missions, with Artemis 1 completed in 2022, but subsequent missions have faced delays; Artemis 2 is now scheduled for 2026 and Artemis 3 for 2027 [2] - The estimated cost of the crewed lunar program is projected to reach $93 billion by 2025, significantly exceeding the original budget [2] Group 3: SpaceX's Role and Challenges - SpaceX won a $2.9 billion contract in 2021 to develop a crewed lunar lander based on the Starship, chosen for its lower cost compared to competitors [3] - Despite the initial selection, SpaceX's development of the lunar lander has faced significant delays, with the lander expected to be completed by April 2025, but now projected to be delayed by approximately 2.5 years [4] Group 4: Future Testing and Uncertainties - SpaceX is preparing a new version of Starship, V3, for upcoming tests in 2026, but the reliability of this system remains uncertain due to past failures [4] - Experts estimate only a 40% chance of achieving crewed lunar landing by 2027, with low probabilities for 2028 as well [4]

Investment Rating - The industry investment rating is "Recommended" (maintained) [1] Core Insights - The new materials sector is a crucial direction for the chemical industry, currently experiencing rapid growth in downstream demand. With policy support and technological breakthroughs, domestic new materials are expected to accelerate towards long-term growth. The report emphasizes that "one generation of materials supports one generation of industry," highlighting the foundational role of the new materials industry in supporting other sectors [4][14]. - The report identifies key areas for investment, including electronic information, aerospace, new energy, biotechnology, and energy conservation and environmental protection, focusing on companies with strong upstream supply chains, research capabilities, and excellent management [4]. Summary by Sections Electronic Information Sector - Focus on semiconductor materials, display materials, and 5G materials [5]. - As of December 25, 2025, the 5G user penetration rate in China has increased from 15% to 83.9%, indicating significant advancements in information infrastructure [6][23]. Aerospace Sector - Key materials include PI films, precision ceramics, and carbon fibers [7]. New Energy Sector - Focus on photovoltaic materials, lithium-ion batteries, proton exchange membranes, and hydrogen storage materials [9]. - The National Development and Reform Commission aims for a total installed capacity of 15 million kilowatts for solar thermal power by 2030, with costs comparable to coal power [10]. Biotechnology Sector - Focus on synthetic biology and scientific services [11]. - Shanghai's action plan aims for breakthroughs in synthetic biological food creation by 2027, enhancing food manufacturing levels and establishing a robust innovation ecosystem by 2030 [12]. Energy Conservation and Environmental Protection Sector - Focus on adsorption resins, membrane materials, and biodegradable plastics [13]. - The Ministry of Industry and Information Technology has released a directory of major environmental protection technologies and equipment, showcasing typical cases across eight major environmental fields [14]. Key Companies and Profit Forecasts - The report lists several key companies with their stock prices and earnings per share (EPS) forecasts for 2024, 2025, and 2026, along with their investment ratings, indicating a positive outlook for many companies in the new materials sector [15].