Core Viewpoint - The A-share market is experiencing a dual growth trend in both emerging and traditional industries, driven by favorable macro policies and technological innovation, despite facing challenges such as weak global economic growth and insufficient domestic demand [1] Emerging Industries - Emerging industries, particularly in hard technology sectors like new generation information technology, new energy, and new materials, are showing strong performance, with 588 companies on the Sci-Tech Innovation Board achieving a total revenue of 1.01 trillion yuan, a year-on-year increase of 6.6% [2] - Key technological breakthroughs are driving the performance of technology companies, with 26 new Class 1 drugs approved in the biopharmaceutical sector and significant advancements in high-end equipment and communication technologies [2] - Companies like Mingzhi Electric and Obit Zhongguang are capitalizing on opportunities in AI and robotics, with revenue growth of 11.66% and 103.5% respectively in the first three quarters [3] R&D Investment - Increased R&D investment is providing strong internal momentum for technology companies, with R&D intensity reaching 4.54% for the ChiNext, 11.22% for the Sci-Tech Innovation Board, and 4.42% for the Beijing Stock Exchange [4] - Companies are focusing on innovation and technology breakthroughs to enhance their competitive edge, as seen with Zhongrun Optical's 50.47% increase in R&D spending [4] Traditional Industries - Traditional industries are also evolving, with companies like Midea Group and Seres adapting to new technologies and applications, resulting in a 13% increase in smart home revenue and significant sales in the electric vehicle sector [5][6] - The steel and cement industries are optimizing supply-demand balances, with companies like Nanjing Steel and Anhui Conch Cement reporting improved profit margins and net profit growth due to strategic adjustments [7] Investor Return Awareness - There is a growing awareness among companies regarding investor returns, with an increase in cash dividend announcements and share buybacks, totaling 734.9 billion yuan in cash dividends announced by 1,033 companies [8] - Companies like Yili Group are actively engaging in share buybacks and dividend distributions to enhance shareholder value [8][9] Future Outlook - Despite external uncertainties, many companies maintain an optimistic outlook for future growth, supported by proactive strategies in R&D, market expansion, and operational efficiency [10]

Core Viewpoint - Demais (301007.SZ) announced that its subsidiary, Suzhou Demais, plans to jointly invest in a targeted fund with Hangzhou Yingzhiqin, the company's controlling shareholder, DeTou, and other limited partners, focusing on high-end equipment and new productive forces [1] Group 1: Investment Details - Suzhou Demais intends to contribute no more than 25 million RMB, representing 2.50% of the partnership [1] - DeTou plans to invest up to 244 million RMB, accounting for 24.40% of the partnership [1] - Huixin Chuangzhi, as a general partner, will contribute no more than 1 million RMB, which is 0.10% of the partnership [1] - Other limited partners are expected to contribute up to 720 million RMB [1]

本次活动不仅仅是一场会议，更是一个精心搭建的交流平台，此次活动目的在于"思想碰撞、经验互 鉴、合作对接"。活动现场，政策解读环节，市场监管总局质量发展局专家的权威讲解，为企业送来了 理解国家宏观政策的"及时雨"，让参会企业家明晰政策导向、找准发展路径；企业分享环节，常州姆驰 机电、山东京博控股、景津装备等行业领军企业代表，分享了在智能制造升级、数字化转型实践、绿色 制造体系构建等领域的创新成果与宝贵经验，提供了可借鉴、可复制的发展路径。与会代表还实地考察 德州高端装备产业链、体育产业链、医养产业链重点企业，直观感受德州推动制造业高质量发展的创新 模式与实践成效。 最引人注目的环节，莫过于现场大屏幕上集中公布的省内外上百位企业负责人的联系方式。这一打破常 规的举措，瞬间将会场气氛推向高潮，企业家们迫不及待地纷纷起身，拿出手机记下期待合作的名单。 它不仅打破了企业间的沟通壁垒、拆除了协作"隔心墙"，更为企业间的高效对接搭建了直接桥梁，生动 诠释了活动主办方以实际行动推动民营制造业务实合作、共谋发展的坚定决心与满满诚意。 大众网记者 孙瑛娜 通讯员 刘贵连 德州报道 大运河畔秋风劲，政企同心谋发展。11月12日，全 ...

人民财讯11月13日电，近日，市场监管总局对检验检测促进产业优化升级行动第二批12项重点项目组织 验收，各项目均达成预定目标与要求。 上述12个项目聚焦战略性新兴产业攻坚与传统产业提质"双赛道"，在集成电路、高端装备、低空经济、 节能环保等新兴领域，以及农产品、轨道交通等传统民生领域精准发力，通过突破一批关键检验检测技 术瓶颈，为行业高质量发展提供强大支撑。例如，攻克工业母机可靠性测试技术，为高端装备制造突 破"卡脖子"难题提供质量基准；构建集成电路在低轨卫星、遥感卫星、导航卫星等航天领域应用场景下 的可靠性检测技术整体解决方案，加速航天与半导体产业融合；研发低空装备综合性能检测系统，推动 低空经济向质量引领转型发展。 ...

Core Viewpoint - The State Administration for Market Regulation has successfully completed the acceptance of 12 key projects aimed at promoting the optimization and upgrading of the inspection and testing industry, achieving the set goals and requirements [1] Group 1: Focus Areas - The 12 projects focus on both strategic emerging industries and the quality enhancement of traditional industries, targeting sectors such as integrated circuits, high-end equipment, low-altitude economy, and energy conservation and environmental protection [1] - The projects also address traditional livelihood sectors, including agricultural products and rail transportation, by overcoming key bottlenecks in inspection and testing technologies [1] Group 2: Technological Breakthroughs - Significant advancements include the development of reliability testing technology for industrial mother machines, which provides quality benchmarks for high-end equipment manufacturing [1] - A comprehensive reliability testing solution for integrated circuits in aerospace applications, such as low-orbit satellites, remote sensing satellites, and navigation satellites, has been established to accelerate the integration of the aerospace and semiconductor industries [1] - The creation of a comprehensive performance testing system for low-altitude equipment aims to promote the transformation of the low-altitude economy towards quality leadership [1]

Core Insights - The Sci-Tech Innovation Board (STAR Market) has become a significant symbol of China's capital market reform and high-quality development, serving as a primary channel for international investors to invest in Chinese technology innovation companies [1][2] - As of now, the STAR Market has gathered 592 listed companies with a total market capitalization exceeding 10 trillion RMB and cumulative financing surpassing 1.1 trillion RMB, forming a complete "chain-group" industrial structure in fields such as integrated circuits, biomedicine, artificial intelligence, and high-end equipment [1] - The STAR Market continues to play a role as a "testing ground" for capital market innovation, expected to attract and nurture more world-class technology enterprises, leading to the emergence of more technology innovation stars in the future [1] - The STAR Market exhibits strong international characteristics, with an investment ecosystem friendly to international investors, evidenced by the international operations of listed companies, increasing foreign participation, and a focus on communication with international investors [1] - The Shanghai Stock Exchange aims to deepen capital market reforms to provide clearer visibility and stability for international investors, facilitate the long-term development of sci-tech enterprises, and enhance the efficiency of capital allocation [1] Industry Outlook - The Shanghai Stock Exchange welcomes more foreign institutions and long-term capital to invest in the STAR Market, promoting the integration of global sci-tech capital and sharing the dividends of China's new productive forces [2]

记者丨 杨坪 编辑丨巫燕玲 11月12日至13日，2025年上海证券交易所国际投资者大会在沪召开。 会上，上海证券交易所副总经理傅浩指出，自2019年设立以来，科创板始终肩负"服务科技创 新、支持国家战略"的使命，已成为中国优质科技企业的首选上市平台， "投资科创板就是投 资中国科技创新，就是投资中国科技产业的未来，是分享中国科创企业发展红利的最好途 径。" 上海证券交易所副总经理傅浩作发言 截至目前，科创板汇聚592家上市公司，总市值超10万亿人民币，累计融资超1.1万亿人民币。 在集成电路、生物医药、人工智能、高端装备等领域形成了完整的"链群式"产业格局。 科创板公司具有高研发投入和高成长性的鲜明特征，科创板公司研发投入强度居A股首位。 2025年上半年，科创板整体研发投入占比接近13%，超净利润2.8倍。科创板公司上市后成长 性良好，以2019年为基数，近5年科创板公司营业收入和归母净利润复合增长率分别达18%和 9%。在这一背景下，涌现出一批实现跨越式发展的科技龙头企业。 傅浩强调， 科创板以制度创新持续发挥资本市场"试验田"功能，必将吸引和培育更多优秀的 世界级科技企业，未来会涌现出更多科技创新的企 ...

21世纪经济报道记者 杨坪 11月12日至13日，2025年上海证券交易所国际投资者大会在沪召开。 会上，上海证券交易所副总经理傅浩指出，自2019年设立以来，科创板始终肩负"服务科技创新、支持 国家战略"的使命，已成为中国优质科技企业的首选上市平台，"投资科创板就是投资中国科技创新，就 是投资中国科技产业的未来，是分享中国科创企业发展红利的最好途径。" "我们坚信在这样持续创新、公开透明的生态环境引导下，未来科创板有望涌现一批世界级的'明星'科 技企业，正如科创板的英文名STAR Market所寄予的美好愿景一样，拥有更多的rising star companies。"傅浩指出。 图说： 上海证券交易所副总经理傅浩作发言 与此同时，傅浩还指出，科创板有着很强的国际基因，有着对国际投资者友好的投资生态，正发展成为 一个国际化的市场。 截至目前，科创板汇聚592家上市公司，总市值超10万亿人民币，累计融资超1.1万亿人民币。在集成电 路、生物医药、人工智能、高端装备等领域形成了完整的"链群式"产业格局。其中，集成电路领域121 家企业实现全链条覆盖，为构建具有国际竞争力的集成电路产业生态、打造世界级产业集群筑牢 ...

经济观察网在11月13日的上海证券交易所国际投资者大会上，上交所副总经理傅浩表示，截至目前，科 创板汇聚592家上市公司，总市值超10万亿人民币，累计融资超1.1万亿人民币。在集成电路、生物医 药、人工智能、高端装备等领域形成了完整的"链群式"产业格局。"投资科创板就是投资中国科技创 新，就是投资中国科技产业的未来，是分享中国科创企业发展红利的最好途径。"傅浩说。 ...

格隆汇11月13日｜在今日的上海证券交易所国际投资者大会上，上交所副总经理傅浩表示，截至目前， 科创板汇聚592家上市公司，总市值超10万亿人民币，累计融资超1.1万亿人民币。在集成电路、生物医 药、人工智能、高端装备等领域形成了完整的"链群式"产业格局。"投资科创板就是投资中国科技创 新，就是投资中国科技产业的未来，是分享中国科创企业发展红利的最好途径。"傅浩说。 ...