将投中网设为"星标⭐"，第一时间收获最新推送 拆分式融资频繁来到天使轮。 作者丨 黎曼 来源丨 投中网 " + "号融资开始频繁出现在天使轮了。 这要从今年几则融资消息说起。 7 月 8 日，它石智航再获 1.22 亿美元天使 + 轮融资：成立 5 个月累计融资超 2.4 亿美元。 7 月 1 日，安徽亿玺装饰设计有限公司获 1000 万天使轮 + 融资，由众璟投资领投。 再往前的 5 月，鹿明机器人宣布完成"天使 ++ "融资。这已是这家成立仅一年的人形机器人企业在半年内的第三轮融资，累 计金额近 2 亿元。另外，国内首家增程式倾转旋翼 eVTOL 货运无人机制造商蓝霄航空也在同月宣布完成"天使 ++" 轮融 资。 另外，微分智飞、 动易科技、宇石空间、 星际光年、速方新能源等都在今年 5 月前后宣布了天使 + 融资。 这几则消息都有个共同点，就是融资轮次来到"天使 + "或"天使 ++ "，且都在近半年密集发生。甚至我还看到了"种子 +" 轮 融资，也是发生在 7 月 8 日， AI 伴随机器人研发商 "深庭纪智能科技"宣布完成数千万元人民币种子 + 轮融资。 这一现象并非偶然，今年我在和不少早期项目的交 ...

在这次表决尘埃落定的前一天，外界已经通过多条渠道感受到了紧绷气氛。围绕该法案，无论是国会内部还是社会各界，意见分歧都很明显，不只是政客们 激烈争辩，甚至涉及到了商界巨头、前总统等人。人们的讨论范围逐渐从法案文本扩展到了美国现行政治体制的问题，许多人感到现有制度已经不足以反映 社会多元诉求。 当中最引人关注的就是马斯克的介入。他在法案通过前夜连发数十条社交媒体帖子，对该法案提出了极为苛刻的批评。他警告称，如果该法案同样顺利通过 众议院，他会立即着手创建新政党"美国党"，声称要为那些对现有两党格局不满的选民提供选择。马斯克此前还曾就建立新政党进行网络民意调查，竟有超 过八成参与者对这个想法表示支持。 马斯克的反对不仅因为政策方向，他对现有两党之争带来的分裂状态长期不满。美国政治场基本由民主党和共和党牢牢把控，实际上让许多民众在选举中难 以表达真正的意愿，只能无奈在两党之间做选择。马斯克声称，建立一个第三力量正是应对这种困境的出路。他把希望寄托在"美国党"身上，认为这能让政 治生态出现转机。 7月1日，美国参议院以51比50的微弱优势通过了被外界称为"大而美"的税收及支出法案。这场投票在压力和争执声中落下帷幕，最后 ...

Core Viewpoint - The performance of low-altitude economy companies in the first half of 2025 shows mixed results, with 12 companies reporting profits and 12 companies experiencing losses [3][5]. Group 1: Performance Overview - As of July 14, 2025, 24 companies in the low-altitude economy index disclosed their performance forecasts, revealing a split between profitable and loss-making entities [3]. - Among the 24 companies, 12 reported profits while the other 12 faced losses [3]. - Four companies are expected to see profit increases of over 50%: Zongshen Power (001696.SZ), Longxin General (603766.SH), Huijia Times (603101.SH), and Changyuan Donggu (603950.SH) [6]. Group 2: Profit and Loss Analysis - Companies such as Aerospace Development (000547.SZ) and Aerospace Rainbow (002389.SZ) reported losses, with the latter citing delays in delivery due to user demand plans [8]. - Aerospace Power (600893.SH) and Aerospace Electric (002025.SZ) achieved profitability but saw a decline in net profit compared to the previous year [6]. - North Navigation (600435.SH) turned a profit, expecting a net profit of 105 million to 120 million yuan in the first half of 2025 [7]. Group 3: Industry Challenges - Many companies in the low-altitude economy sector, particularly those in the aviation industry and low-altitude mainframe manufacturers, reported losses [5][8]. - The losses were attributed to various factors, including market environment impacts, product transformation challenges, and increased operational costs [9]. - Despite ongoing losses, some companies like Chuan University Zhisheng (002253.SZ) are actively pursuing low-altitude economy projects, indicating a commitment to future growth [9].

中新社北京7月15日电 题：中国经济"半年报"凸显四大亮点 中新社记者 陈溯 中国经济"半年报"15日公布，在国际环境复杂多变、国际经贸秩序遭受重创、不稳定性和不确定性增加 的背景下，中国经济稳定运行，主要指标好于预期，凸显四大亮点。 ——GDP同比增长5.3% 上半年，中国经济平稳运行。官方数据显示，上半年中国GDP(国内生产总值)同比增长5.3%，其中，一 季度同比增长5.4%，二季度同比增长5.2%，上半年增速比去年同期和全年均提升0.3个百分点，稳中有 升。 国家统计局副局长盛来运表示，上半年，宏观经济主要指标增长稳中略升。其中，调查失业率总体平 稳，上半年，全国城镇调查失业率平均值为5.2%，比一季度下降0.1个百分点，就业形势基本平稳。物 价低位运行，保持基本平稳，今年以来，有几个月CPI(居民消费价格)同比下降0.1%，但6月由负转正， 同比上涨0.1%，6月份核心CPI同比上涨0.7%。国际收支也基本平衡，货物贸易进出口创同期新高，外 汇储备维持在3.2万亿美元以上。"经济运行'稳'的主基调没有变。" ——新动能日益累积 除了绿色产业，中国绿色消费渐成新风尚，上半年，新能源汽车、节能家电、智能 ...

Core Points - In June, the industrial added value above designated size grew by 6.8% year-on-year, accelerating by 1.0 percentage points compared to January-May. For the first half of the year, the growth rate was 6.4% [1] - The strong support for the 6.4% growth rate comes from advanced manufacturing and high-tech industries, particularly high-end equipment manufacturing, which significantly supports the overall industrial economy [1] - Emerging industries such as humanoid robots and 3D printing equipment are expected to see industrialization in the coming years, providing new growth points for the domestic economy [1] Industry Analysis - In June, 36 out of 41 major industries maintained year-on-year growth in added value, with notable increases in various sectors: non-ferrous metal smelting and rolling processing grew by 9.2%, general equipment manufacturing by 7.8%, specialized equipment manufacturing by 4.6%, automotive manufacturing by 11.4%, and electrical machinery and equipment manufacturing by 11.4% [2] - The mining industry saw a year-on-year increase of 6.1%, manufacturing increased by 7.4%, and the electricity, heat, gas, and water production and supply industry grew by 1.8% [1] Future Outlook - Analysts predict that industrial production momentum may weaken in the second half of the year due to factors such as declining exports. It is expected that the annual growth rate of industrial added value will be around 4.8%, primarily impacted by the decline in export growth [4] - The share of export delivery value in China's industrial output is close to 40%, indicating that industrial production growth may experience a sustained slowdown, with a shift in economic growth momentum towards the service sector [4] - Two factors are expected to influence industrial production growth in the second half: the expansion of "anti-involution" efforts leading to sustained production limits in sectors like crude steel and photovoltaics, and a potential decline in export growth following previous "export rush" activities [5]

Core Viewpoint - The military industry is experiencing a short-term adjustment, with the aerospace and defense sector index declining by 1.13% as of 11:06 AM on July 15, highlighting mixed performance among component stocks [1] Group 1: Market Performance - The aerospace and defense ETF (159227), which tracks the CN5082 index, fell by 1.27% with a trading volume of 52.01 million yuan, marking 13 consecutive trading days of net inflow totaling 312 million yuan, bringing its latest scale to 570 million yuan, the largest among its peers [1] - The CN5082 index shows a high concentration in the military industry, with 98.2% of its components belonging to the military sector, and aerospace equipment accounting for 66.5% of its weight [2] Group 2: Technological Advancements - The recent public demonstration of the "Jiutian" drone mothership by the China Eastern Military team showcases its capabilities, including a wingspan of 25 meters and a payload of 6 tons, capable of carrying 300 "Xuanbird" suicide drones for saturation attacks [1] - The "Jiutian" system achieved a 92% penetration rate against the US-made "Patriot-3" defense network during simulated confrontations, indicating significant advancements in large drone platforms and potential benefits for the military supply chain [1] Group 3: Future Outlook - According to Dongfang Securities, the military trade sector is expected to become a second growth driver as the industry continues to recover in the final year of the 14th Five-Year Plan, with upstream components and key materials poised to benefit from increased demand [2]

Group 1 - The core viewpoint is that capital market reforms will enhance mechanisms supporting the development of technology growth enterprises, with a focus on sectors like biomedicine, artificial intelligence, commercial aerospace, and low-altitude economy [1] - Reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, such as the establishment of a growth tier, the resumption of listing standards for unprofitable companies, and the introduction of a third set of standards for the Growth Enterprise Market, will significantly increase market support for technology companies, creating more investment opportunities in related fields [1] - The AI computing power industry chain is expected to recover continuously, presenting new investment opportunities, particularly in sub-sectors like operators, optical communications, satellite internet, and quantum technology [1] Group 2 - The ChiNext 50 ETF tracks the ChiNext 50 Index, which can experience daily fluctuations of up to 20%. This index, published by the Shenzhen Stock Exchange, selects 50 stocks with larger market capitalization and better liquidity from the ChiNext market, aiming to reflect the performance of the most representative and influential companies in the market, especially focusing on technology innovation sectors like information technology and healthcare [1]

Group 1 - LG Electronics has initiated the development of hybrid bonding equipment, aiming for mass production by 2028. This technology is crucial for constructing 16+ layer stacked HBM memory, utilizing copper-copper bonding without bumps to reduce the spacing between DRAM dies and achieve higher stacking with lower heat generation [1] - Heilongjiang Province has implemented a subsidy policy for manufacturing innovation centers, providing 30% reimbursement on research equipment purchases, with a maximum annual subsidy of 3 million yuan at the provincial level and a one-time national award of 10 million yuan to accelerate the commercialization of R&D results [1] - The SQX-3 rocket's sub-stage methane tank successfully completed a low-temperature static test, marking a significant achievement for the company in the aerospace sector [1] Group 2 - The first humanoid robot sports science joint laboratory has been established in Beijing Yizhuang, in collaboration with Li Ning Group, indicating a significant advancement in the field of humanoid robotics [1] - Panasonic has postponed the full operation of its new electric vehicle battery factory in the U.S. due to sluggish sales reported by its main customer, Tesla. The factory, located in Kansas, was initially set to begin operations by the end of the 2026 fiscal year, reflecting a broader slowdown in the global electric vehicle market [1]

Group 1 - The successful launch of the Tianzhou-9 cargo spacecraft and its autonomous docking with the Chinese space station marks the third successful 3-hour docking operation following Tianzhou-7 and Tianzhou-8 [1] - The 3-hour docking mode is now established as a routine operational standard for future Tianzhou missions, demonstrating improved efficiency and reliability compared to traditional docking methods [1] - The 3-hour mode reduces requirements for rocket launch conditions, measurement and control precision, and navigation accuracy, enhancing the overall reliability of the mission [1] Group 2 - The development of the "anchor point" theory and technology has been achieved through years of successful docking operations, providing a smart navigation coordinate system for space docking [2] - The "anchor point" technology ensures docking precision, allows for dynamic trajectory adjustments to handle orbital errors and emergencies, and shortens mission duration [2] - This technology is a core support for major projects such as the construction of the Chinese space station and is crucial for advancing autonomous control capabilities of spacecraft [2]

李智勇：天舟九号是第一艘具备应急发射能力的货运飞船，在三个月之内可以应急发射到空间站上去，这是我们应急船的意义。 天舟九号是继天舟七号、天舟八号之后又一艘采用3小时快速交会对接模式执行任务的货运飞船。 李智勇：从最开始的2天到6.5个小时，到现在我们常用的基本上已经形成一个固定模式的3小时快速交会对接。这样的话首先资源是最省的，能够省燃料， 第二时间也不长，第三有很多自主控制，保证了交会对接的可靠性。 专家还介绍，就像我们现在收快递可以全程了解购买物品的运输进度一样，天舟九号上的中继终端可以自主捕获并跟踪天链中继卫星，搭建起从货运飞船到 中继卫星再到地面的通信链路， 实时保持信息的双向传输，确保"送货"全程在线。 天舟九号货运飞船是空间站应用与发展阶段组批生产的第4艘货运飞船，承担着为神舟二十号和神舟二十一号乘组运送物资的任务。 天舟九号较以往货运飞 船有哪些技术改进，具备什么新特点？ 专家介绍，此次，天舟九号承担着为神舟二十号和神舟二十一号乘组运送物资的任务，上行的物资重量约为6.5吨，其中，包括航天员系统乘员物资、空间 站系统平台物资以及空间应用系统、航天医学实验领域、航天技术试验领域实验样品和设备设施等 ...