中国证监会和交易所官网显示，南方万国数据中心REIT、南方润泽科技REIT日前双双获批。 在6月18日举行的2025陆家嘴论坛上，中国证监会主席吴清表示，今天，证监会将批复全国首批2只数据中心REITs注册，下一步将继续支持科技企业利用 知识产权、数据资产等新型资产开展资产证券化、REITs等融资，进一步盘活科技创新领域存量资产。 业内人士表示，首批数据中心公募REITs获批，是在国家大力推进新基建与数字经济发展的背景下，资本市场服务实体经济的又一创新实践。 首批数据中心REITs获批 REITs市场迎来新品种，首批2只数据中心REITs正式获批，沪深交易所各有1只。 基金市场又迎来重磅新品！ 批复公告显示，南方万国数据中心REIT基金合同期限为50年，准予基金的募集份额总额为8亿份。南方基金为基金的基金管理人，招商银行为基金的基金 托管人。 南方万国数据REIT以万国数据旗下位于昆山市花桥镇的国金数据云计算数据中心项目为底层资产。昆山花桥作为全国数据中心版图中极具战略意义的关 键节点，已深度嵌入长三角一体化发展格局，扮演着"数字经济时代长三角数据交互中枢"的重要角色，为国金数据云计算数据中心项目提供了不可多 ...

基金市场又迎来重磅新品！ 在6月18日举行的2025陆家嘴论坛上，中国证监会主席吴清表示，今天，证监会将批复全国 首批2只数据中心REITs注册，下一步将继续支持科技企业利用知识产权、数据资产等新型资 产开展资产证券化、REITs等融资，进一步盘活科技创新领域存量资产。 中国证监会和交易所官网显示，南方万国数据中心REIT、南方润泽科技REIT日前双双获批。 业内人士表示，首批数据中心公募REITs获批，是在国家大力推进新基建与数字经济发展的背 景下，资本市场服务实体经济的又一创新实践。 首批数据中心REITs获批 REITs市场迎来新品种，首批2只数据中心REITs正式获批，沪深交易所各有1只。 证监会网站显示，由南方基金担任基金管理人的南方万国数据中心封闭式基础设施证券投资 基金（以下简称南方万国数据中心REIT）获得中国证券监督管理委员会正式准予注册批复， 此前已获得上海证券交易所无异议函。 【导读】南方万国数据中心REIT、南方润泽科技REIT双双获批 中国基金报记者 方丽 批复公告显示，南方万国数据中心REIT基金合同期限为50年，准予基金的募集份额总额为8 亿份。南方基金为基金的基金管理人，招商银 ...

Group 1: Solid-State Battery Industry - The fifth China International Solid-State Battery Technology Conference will be held on June 19-20, 2025, with industry investment reaching 15 billion in the first four months of the year [1] - The Ministry of Industry and Information Technology (MIIT) plans to establish a standard system for solid-state batteries by April 2025, with 6 billion allocated for special research and development [2] - Companies like Puli Technology and Liyuanheng are actively developing solid-state battery technologies and have made significant progress in equipment and process innovations [2] Group 2: Robotics and AI - Ant Group has invested in Lingxin Qiaoshou Technology, which focuses on embodied intelligence platforms crucial for humanoid robots [3] - Companies like Zhenyu Technology and Hanwei Technology are successfully delivering products related to robotics, including linear actuators and flexible sensors [4] - The demand for key components in humanoid robots, such as motors and tactile sensors, is expected to increase, benefiting leading technology firms in the industry [3][4] Group 3: Autonomous Delivery Vehicles - Cainiao has launched a new autonomous delivery vehicle, the Cainiao GT-Lite, priced at 21,800 yuan, with a promotional price of 16,800 yuan [5] - The logistics autonomous vehicle market is entering a phase of large-scale commercialization, driven by technological advancements and decreasing component costs [5] - Companies like Xingwang Yuda and Xiangyou Technology are developing autonomous driving systems and collaborating with postal services to enhance delivery capabilities [6] Group 4: High-Bandwidth Memory (HBM) Market - Samsung Electronics has secured a contract for HBM3E supply from Broadcom, indicating strong demand for high-performance memory in AI applications [7] - The HBM market is expected to experience explosive growth due to increased data center investments and the need for high bandwidth and low power consumption [7] - Companies like Shengmei Shanghai and Saiteng Co. are actively involved in providing equipment and materials for HBM production [8] Group 5: Digital Human Technology - Baidu has launched the industry's first dual digital human interactive live broadcast room, enhancing consumer interaction through advanced AI technology [9] - The development of digital humans is expected to lead to more personalized marketing strategies and improved customer experiences in e-commerce [9] - Companies like New Guodu Holdings are focusing on general-purpose AI technology and multi-modal AI product research [9][10] Group 6: Renewable Energy and Nuclear Fusion - China National Petroleum Corporation plans to invest 655 million yuan in Kunlun Capital for controlled nuclear fusion projects [10] - Several state-owned enterprises are exploring nuclear fusion energy, which is seen as a clean and efficient energy source [11] - Companies like Zhongyou Capital and Xuguang Electronics are involved in nuclear fusion technology development and related projects [11] Group 7: Domestic CPU Market - Shanghai Zhaoxin Integrated Circuit Co., a leading domestic CPU manufacturer, has initiated an IPO on the Sci-Tech Innovation Board, aiming to raise approximately 4.169 billion yuan [12] - The CPU market in China is projected to grow from 216.032 billion yuan in 2023 to 232.61 billion yuan in 2024, driven by advancements in AI and cloud computing [12] - Companies like Guangdian Yuntong and Zhongke Shuguang are enhancing their capabilities in CPU and GPU products [13]

Core Insights - The rapid expansion of data centers across the U.S. is significantly driven by the AI revolution, with major tech companies planning to invest $320 billion in infrastructure by 2025, primarily in AI-related fields [2] - By the end of 2024, the number of data centers in the U.S. is expected to reach 1,240, quadrupling since 2010, with many designed specifically for AI [2] - The increasing demand for power and water from data centers poses serious environmental challenges, with data centers projected to surpass Poland's annual electricity consumption in the near future [5][6] Energy Consumption - The electricity demand from data centers is rising rapidly, contributing to 44% of the growth in U.S. electricity demand this century [5] - If Amazon completes all planned data centers, the annual electricity consumption could reach between 30 to 48 terawatt-hours, comparable to Nevada's total electricity use in 2023 [5] - The reliance on backup diesel generators for uninterrupted server operation results in significant pollution, estimated to cause public health losses between $5.7 billion and $9.2 billion annually [5] Water Usage - Approximately 40% of data centers are located in areas with high water stress, with annual water consumption reaching 34 billion gallons in 2018 [6] - Many data centers lack adequate water tracking systems, and some in drought-prone areas are permitted to use substantial amounts of freshwater for cooling [6] - Attempts to reduce water consumption through air cooling often lead to increased energy demands, exacerbating the environmental impact [6] Green Initiatives - In response to environmental pressures, the data center industry is pushing for a green transition, with tech giants committing to invest in renewable energy and implement water offset projects [9] - There is a stark conflict between the green commitments and the environmental realities, as data centers continue to consume significant resources while generating value through AI applications [9] - The balance between technological advancement and environmental sustainability remains uncertain, hinging on whether the AI revolution can deliver on its promises of efficiency and resource conservation [9]

文/梧桐小新 6月18日，证监会主席吴清在2025年陆家嘴论坛上表示，将继续充分发挥科创板示范效应，加力推出进一步 深化改革的1+6政策措施。 "1"即 在科创板设置科创成长层，并且重启未盈利企业适用科创板第五套标准上市 ，更加精准服务技术有 较大突破、商业前景广阔、持续研发投入大的优质科技企业，同时在强化信息披露和风险揭示、加强投资 者适当性管理等方面做出专门安排。 "6"即 在科创板创新推出6项改革措施 ，包括对于适用科创板第五套标准的企业，试点引入资深专业机构投 资者制度； 面向优质科技企业试点IPO预先审阅机制；扩大第五套标准适用范围，支持人工智能、商业航 天、低空经济等更多前沿科技领域企业适用； 支持在审未盈利科技企业面向老股东开展增资扩股等活动； 完善科创板公司再融资制度和战略投资者认定标准；增加科创板投资产品和风险管理工具等。 同时，也将 在创业板正式启用第三套标准，支持优质未盈利创新企业上市。 附：吴清主席在2025陆家嘴论坛开幕式上的主旨演讲 尊敬的吉宁书记、小川副主席、龚正市长， 尊敬的王江副主任、功胜行长、云泽局长、海峰副部长、鹤新局长， 各位境内外来宾，女士们、先生们： 大家上午好！很 ...

星标 ★ IPO日报 精彩文章第一时间推送 近期，湖南华升股份有限公司（600156.SH，下称"华升股份"、"上市公司"）发布公告称，公司正在筹划通过发行股份及支付现金的方式购买深圳 易信科技股份有限公司（下称"易信科技"、"标的公司"）100%股权，同时拟发行股份募集配套资金。 目前，本次交易仍处于筹划阶段，交易各方尚未签署正式的交易协议，具体交易方案仍在商讨论证中。公司股票目前仍处于停牌状态，停牌时间不 超过10个交易日，预计最晚于2025年6月24日（星期二）前复牌。 制图：佘诗婕 增收不增利 2024年年报显示，华升股份主要产品为苎麻纱、苎麻混纺纱，苎麻、亚麻、汉麻面料，服装服饰、家纺、产业用纺织品等，ODM/OEM与服装自主 品牌业务共同发展，已初步形成服装品牌矩阵。公司旗下拥有"雪松""洞庭""金爽"等纺织行业知名面料品牌。 受原材料价格波动和行业竞争挤压，2024年，上市公司出现增收不增利的情况。 根据年报，2024年，上市公司实现营业收入7.78亿元，同比增长34%；归属于上市公司股东的净利润-4933.60万元，同比下滑333%。 制图：李昕 这主要是由于公司产品毛利率出现大幅下降，由20 ...

Core Viewpoint - Guangdong Dongyangguang Technology Holdings Co., Ltd. plans to invest in Changzhou Zonghui Chip Semiconductor Technology Co., Ltd. through a capital increase, aiming to enhance its position in the data center liquid cooling technology sector by leveraging synergies with optical chip technology [1][3][10]. Summary by Sections 1. Overview of Related Transactions - The company will invest CNY 90 million to acquire 2.575% of Zonghui Chip's new registered capital of CNY 795,205.23, while its affiliate, Ningbo Yongcheng Dongyangguang Venture Capital Fund, will invest CNY 60 million for a 1.717% stake [1][2]. - This transaction has been approved by the company's board and does not require shareholder approval [2][4]. 2. Purpose and Reasons for the Transaction - The investment aims to address the growing demand for high-speed, low-energy data transmission in data centers, integrating optical chips and liquid cooling technology to enhance efficiency and reliability [3][10]. - Zonghui Chip is recognized as a leading player in the VCSEL chip sector, with strong capabilities in technology iteration and industry chain integration [3][10]. 3. Basic Information about the Investment Target - Changzhou Zonghui Chip Semiconductor Technology Co., Ltd. was established on November 18, 2015, with a registered capital of CNY 29.024 million [6][7]. - The company specializes in chip design, manufacturing, and sales of electronic products, with total assets of CNY 89.487 million and a net loss of CNY 5.829 million reported [7][8]. 4. Pricing Policy and Basis for the Transaction - The transaction pricing was determined based on a pre-investment valuation of CNY 3.285 billion, reflecting the market expectations and the company's industry characteristics [8][9]. 5. Impact on the Company - This investment is a strategic move to extend the company's reach into the upstream core components of data centers, enhancing its competitive edge in the liquid cooling technology sector [10][11]. - The funding for this transaction will come from the company's own resources, ensuring no adverse impact on its financial status [11].

粤港澳大湾区人工智能"算力心脏"。 粤北青山之间，一座座数据中心如"钢铁森林"般拔节生长。在广东韶关，13条连接大湾区的400G全光运力网络和12条省际光缆如同"神经网络"般贯穿全市，将庞大 数据分别以1.3毫秒和1.66毫秒的速度输向广州和深圳的核心机房。仅有正常人眨眼速度百分之一的极低时延，满足了大湾区绝大部分算力业务的需求。作为国家在 华南布局的唯一数据中心集群，韶关已成为粤港澳大湾区抢占人工智能高地的"算力心脏"。 "算力就是生产力，没有算力就没有人工智能。"在近日召开的第四届粤港澳大湾区（广东）算力产业大会暨第三届中国算力网大会上，韶关市委书记陈少荣表示， 韶关算力规模从零开始，总投资超600亿元，招引上下游项目31个，移动、电信、联通、鹰硕等项目建成投产，腾讯、万国、中联、华韶二期等项目动工建设。 从曾经的"华南重工业基地"到如今的"智算新城"，韶关正以算力为支点，撬动一场从"算力承载"到"全链智造"的产业跃迁。 粤港澳大湾区数据应用产业园。 第四届粤港澳大湾区(广东)算力产业大会主办方/供图 目前，韶关算力集群已建成国家级干线节点以及13条连接大湾区城市的400G全光运力网络和12条省际光缆，打 ...

Group 1 - The 3D printing industry in China is experiencing rapid growth, with equipment production increasing by 36%, 11%, and 45% year-on-year from 2023 to Q1 2025, and export volumes rising by 55%, 6%, and 24% during the same period [1] - The market applications of 3D printing have expanded from consumer goods in Europe and the US to include trendy toys in China, and are gradually penetrating functional items such as footwear and helmets [1] - 3D printing is recognized as a strategic emerging industry with strong domestic and international policy support, leading to sustained market growth [1] Group 2 - Tencent's WeGame Game Night is scheduled for June 16, showcasing important game releases and new titles, indicating a positive outlook for the gaming sector [2] - The gaming and media sectors are viewed as one of the best emerging consumer segments, with recent stock price increases in companies like Lehua, Juxing, Alibaba Pictures, Maoyan, and NetEase Music signaling a valuation recovery [2] - The cultural export of gaming and media is just beginning, supported by favorable policies, which presents further growth opportunities [2] Group 3 - The construction of new data centers is on the rise due to the AI wave, with liquid cooling technology becoming essential to address energy consumption challenges [3] - The power density of AIDC cabinets is increasing from traditional IDC levels of 5-15KW to several tens of KW, while traditional air cooling systems have a maximum cooling capacity of 25KW per cabinet [3] - Liquid cooling systems can significantly enhance energy efficiency and reduce overall costs, positioning them to become mainstream in the AIDC era [4] Group 4 - Major corporations like Amazon and Walmart are exploring the possibility of issuing their own stablecoins in the US, indicating a growing interest in digital currencies among large enterprises [5]

Group 1 - GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading high-performance data center operator and service provider in China and Southeast Asia [2] - The company reported a total revenue of 2.723 billion RMB for the fiscal year ending March 31, 2025, representing a year-on-year growth of 11.96% [1] - The net profit attributable to shareholders reached 763 million RMB, showing a significant year-on-year increase of 320.64% [1] Group 2 - GDS operates data centers in key economic hubs in China, as well as in non-first-tier cities to meet diverse customer needs [2] - The data centers are characterized by large scale, abundant power supply, high density, and efficiency, with all critical systems featuring multiple redundancies [2] - The company maintains neutrality towards operators and cloud service providers, allowing customers to freely connect with major telecom operators and access multiple cloud service providers hosted in GDS data centers [2]