国睿科技首次覆盖报告 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 宋博(分析师) | 010-83939829 | songbo3@gtht.com | S0880522120007 | | 杨天昊(分析师) | 010-83939791 | yangtianhao@gtht.com | S0880523080010 | 本报告导读： 股 票 研 雷达装备龙头夯实主业，工业软件与智慧轨交拓展新空间 国睿科技(600562) 公司深耕雷达装备、工业软件与智慧轨交等领域，是国内雷达整机及系统解决方案 的重要供应商。受益于国防信息化推进、民用雷达与智能交通需求扩容，公司多元 业务协同发展，持续加大研发投入与平台化建设，业绩有望在结构优化中稳健增长。 投资要点： | [Table_Finance] 财务摘要(百万元) | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入 | 3,282 | 3,400 | 3 ...

编者按：当前，发展新质生产力已成为推动高质量发展的内在要求和重要着力点。国有企业作为国民经济的中坚力量，在这一进程中肩负着重要使命。重 庆，立足西部大开发重要战略支点，国有企业更以"排头兵"的姿态，积极投身新质生产力的探索与实践。为系统展现重庆国企在发展新质生产力中的行动与 思考，央广网重庆频道策划推出融媒体报道《国企渝进》，通过深入一线调研、对话企业代表、剖析典型样本，多维度探索重庆国企高质量发展新质生产力 的实施路径，为"十五五"时期重庆乃至西部的产业升级和高质量发展提供前瞻性思考和案例支撑。 近日，沐曦集成电路（上海）股份有限公司正式登陆科创板，开盘后股价持续走高，一度涨超700%，总市值超3300亿元，成为国内高性能GPU赛道引人瞩 目的上市案例。其背后重要投资方，重庆渝富控股集团通过成渝双城基金布局战略性新兴产业，以"链式投资"助推地方产业集群升级。 培育新质生产力，关键在于形成具有强大竞争力的现代产业集群。重庆渝富控股集团紧扣国家战略和区域发展需要，以精准的"链式投资"布局，在巴渝大地 上绘就了一幅产业大升级、集群大发展的壮阔画卷。 培育标杆 系统性赋能铸就新能源汽车产业极核 在智能网联新能源汽车 ...

Core Viewpoint - The launch of Jialichuang ECAD electrical design software marks a significant milestone in China's electronic and electrical design sector, providing a cloud-based solution that enhances collaboration and efficiency in industrial software [1][9]. Group 1: Cloud Transition in Electrical Design - The ECAD software addresses long-standing issues in the industrial automation and equipment manufacturing sectors, where engineers faced high costs for foreign software or inefficient 2D CAD tools [3]. - Traditional workflows often resulted in "data silos," where PCB design, mechanical structure design, and electrical wiring design were disconnected, leading to assembly issues [3]. - Jialichuang ECAD utilizes a cloud-native architecture, allowing engineers to design anytime and anywhere using just a browser, thus breaking the dependency on high-performance workstations [3][4]. Group 2: Innovation in Work Processes - The software features over 280,000 component libraries and adheres to international standards, transforming the design process from manual drawing to a more intuitive "building block" approach [4]. - Engineers can now complete high-quality designs in a fraction of the time previously required, significantly improving productivity [4]. Group 3: Building an Integrated Ecosystem - Jialichuang ECAD aims to create a "super ecosystem" that integrates electronic, mechanical, and electrical design, which has traditionally been dominated by foreign companies [6]. - The platform allows seamless switching between PCB design, mechanical matching, and electrical wiring, enhancing research and development efficiency [6]. Group 4: Reshaping Supply Chain Logic - The software's integration with Jialichuang's extensive electronic and mechanical supply chain allows real-time inventory checks and BOM generation, addressing previous procurement challenges [7]. - This integration liberates engineers from tedious BOM matching tasks, enabling them to focus on core innovations [7]. Group 5: Promoting Digital Infrastructure for Innovation - The free standard version of Jialichuang ECAD significantly lowers the barrier for small enterprises to access professional design tools, reducing legal risks associated with software piracy [8]. - The software's availability in educational settings will enhance the training of future engineers, aligning their skills with industry standards [8]. Group 6: New Business Model for Industrial Software - The launch signifies a shift in the business model for Chinese industrial software companies, moving away from solely selling tools to creating a comprehensive design-manufacturing-procurement ecosystem [9].

Core Viewpoint - Jialichuang has launched its self-developed cloud-based electrical design software ECAD, which is now available for free, challenging the dominance of foreign giants in the electrical design software market and transforming the design paradigm for electrical engineers [1][2]. Group 1: Market Context - The domestic electrical design sector has long relied on foreign software, which, despite its powerful features, comes with high licensing fees and inadequate support for local standards, creating barriers for small and medium-sized manufacturers and independent engineers [2][6]. - A single foreign software license can cost over 100,000 yuan annually, which is a significant expense for small automation companies with annual revenues of only 10 million yuan [2]. Group 2: Software Features - Jialichuang ECAD directly competes with industry benchmark software, offering advanced features such as automatic wiring, intelligent component placement, cross-page references, automatic numbering, and a library of IEC standard symbols [2][4]. - The software includes over 280,000 standardized component libraries covering common components like circuit breakers, relays, and PLC modules, all adhering to IEC international standards [4]. Group 3: User Experience and Ecosystem - ECAD supports multi-terminal collaborative design, allowing multiple engineers to work on the same project in real-time, which addresses issues of version control common in traditional CAD environments [5]. - The software is integrated into Jialichuang's extensive mechanical and electrical component marketplace, which has gathered hundreds of thousands of industrial components, enhancing the B2B supply chain capabilities [6][7]. Group 4: Business Model and Strategy - Jialichuang's strategy focuses on providing free core tools to engineers, driven by a deep understanding of the pain points in China's manufacturing sector, where accessibility and cost of tools often hinder innovation [6][9]. - The company aims to create a seamless connection between design and procurement, significantly reducing the time from design to physical product [7]. Group 5: Industry Implications - Jialichuang's approach may signal a new model for industrial software development, emphasizing reduced innovation barriers, expanded user bases, and extended service chains to achieve long-term value [7][9]. - The company's evolution into a comprehensive service platform for hardware innovators reflects the increasing complexity of hardware product integration, aiming to streamline the entire design process within a unified platform [8].

Core Insights - The launch of 嘉立创's ECAD electrical design software marks a significant shift in the industrial software landscape, transitioning from expensive "production materials" to accessible "infrastructure" [1][13] - 嘉立创's strategy integrates software, hardware, and marketplace, allowing for a seamless design-to-manufacturing process, which enhances efficiency and reduces costs for engineers [9][10] Group 1: Industry Transformation - The industrial software sector, particularly in electrical design, has been hindered by high licensing fees and fragmented collaboration methods, making it difficult for small and medium enterprises to digitize [2][5] - 嘉立创's ECAD introduces a "cloud-native" approach that redefines the electrical design paradigm, enhancing efficiency through features like automatic wiring and intelligent placement, allowing engineers to focus on logical design rather than manual tasks [3][5] Group 2: Collaborative Revolution - The cloud-based architecture of ECAD facilitates real-time collaboration among engineers, eliminating common issues like version conflicts and data loss, and establishing a unified data foundation [5][10] - The integration of a standardized symbol and component library, which currently includes 280,000 items, creates a strong network effect, enhancing the overall design process [5][7] Group 3: Standardization and Global Competitiveness - ECAD's built-in compliance with IEC international electrical standards enhances the competitiveness of Chinese manufacturing in global markets, serving as a foundational tool for industry collaboration [7][10] Group 4: Business Model Innovation - 嘉立创's business model contrasts with traditional software companies that rely on licensing fees; instead, it positions software as an entry point to a comprehensive manufacturing and supply chain ecosystem [9][10] - This model not only reduces software costs for enterprises but also minimizes the complexities associated with BOM matching and procurement, creating a robust ecological moat [10][12] Group 5: Ecosystem Development - The launch of ECAD signifies 嘉立创's evolution from an electronic-level to an electrical-level software ecosystem, covering the entire lifecycle of hardware innovation [11][12] - The ecosystem's value is reflected in data security, a thriving open-source hardware community, and talent cultivation through partnerships with over 400 universities, establishing a strong foundation for future hardware innovation [12]

证券日报网讯 12月30日，中控技术在互动平台回答投资者提问时表示，公司已于去年推出工业软件的 会员订阅制模式，并将其作为公司商业模式创新的关键组成部分大力推广，该模式旨在为不同规模的客 户提供多样化的高价值软件包组合，并通过持续的软件迭代升级，为客户提供卓越的服务体验，显著提 升软件在企业数字化转型中的部署效率与长期价值。会员订阅制模式有效促进了先进工业AI软件、设 备及技术在工业场景的应用落地，截至2025年6月底，公司已累计签约938家订阅制客户，实现了商业模 式战略性突破。此外，今年8月份公司发布了新一代工业AI大模型TPT2，应用模式从1.0时代的专家上 门实施扩展为既保留了企业本地部署的诉求，更增加了平台化、自助式服务，用户企业可像使用专业工 具一样，自主查询数据、寻求优化方案、获取预警信息，极大降低了使用门槛和成本，真正实现了AI 能力的普惠化。 ...

赛迪顾问通信产业研究中心资深分析师徐畅以"融'天'筑'网'，提速发展空天地一体化新质生产力"为题，深入解读了2026年卫星通信发展趋势。徐畅认为随 着全球空天竞逐进入关键阶段，卫星通信正成为构筑国家战略科技力量的核心支柱。作为实现全域无缝覆盖、构建空天地一体化网络的重要基石，它不仅推 动通信服务向天空、海洋及偏远地区全面延伸，更将成为催生低空经济、太空资源开发等未来产业的核心引擎。 赛迪顾问网络与数据安全研究中心资深分析师及昊以"智防先行，AI驱动安全能力跃迁升级"为题，深入解读了2026年网络安全发展趋势。及昊认为在市场需 求持续演进与核心技术加速成熟的共同驱动下，中国网络安全体系将更加注重智能升级、协同联动与整体韧性，推动安全能力实现跨层级、跨场景的系统性 提升。 中国日报12月30日电(记者 樊菲菲) 12月29日，赛迪顾问发布2026年IT趋势，发布会以"驭势而行 创启新局"为主题，围绕算力、存储、大模型、人工智能+、 工业软件、网络安全、卫星通信、产业互联网、金融数字化转型、城市可信数据空间等十个IT重点领域，由十位资深分析师现场解读，以专业的视角洞察技 术突破，以全局的思维绘制发展蓝图。 赛迪顾问 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 日前，中国证监会官网IPO辅导公示系统显示，上海合见工业软件集团股份有限公司（简称"合见 工软"）正式向上海证监局提交了IPO辅导备案，保荐机构为国泰海通证券股份有限公司。这一消 息标志着这家成立仅五年的国产EDA领域领军企业，正式踏上了资本市场的新征程。 据公司官网介绍，上海合见工业软件集团有限公司（简称"合见工软"）作为自主创新的高性能工业 软件及解决方案提供商，以EDA（电子设计自动化，Electronic Design Automation）领域为首先 突破方向，致力于帮助半导体芯片企业解决在创新与发展过程中所面临的严峻挑战和关键问题，并 成为他们值得信赖的合作伙伴。 EDA是集成电路设计工业软件，应用于芯片的设计、制造、封测、封装等多个环节，承担着电路 设计、电路验证和性能分析等多项芯片开发过程中的核心工作。在地缘政治格局剧烈变化的时代， EDA与IP是中国科技自主化进程中的关键一战，是国家战略层级的核心问题之一。中国EDA需要 尽快赶超国际领先水平，从而打造新一代的世界级工业软件。 在这样的产业发展背景下，合见工软应运而生，以自主自研的创新EDA产品推动产 ...

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"透视图"栏目在年终特别策划了"36氪年度透视"系列，用数据透视2025全年趋势，以图片呈现今年商业世界中不可错过的要点。 最需攻坚的卡脖子领域 本图讨论的是未来五年政策与产业资源的配置方向,而非具体投资建议或短期回抄 数据截至2025年12月15日,来源:"十五五"规划建议、公开消息,36 90%的国产替代空间,就是万亿市场 别卷无人机了(95%),去卷光刻胶。(10%)和高端机床(6% 高端制造装备和配套工业软件的国产化率、材料国产化率(举例): · 硬件设备 配套工业软件 工业无人机 研发设计类 40% 高端生产控制类 锂电设备 30% 高端管理类 半导体设备 25% 工业机器人 材料 光刻胶(集成电路) 汽车制造设备 10% 电子特气(集成电路) AOI检测设备 15% 小丝束碳纤维(航空航天) 高档数控机床 10% PTFE(5G) 90% 已基本实现国产替代 PEEK(人形机器人) 国产化率低,替代空间巨大 | 8% 1 | 国产化率低,往往意味着: | | --- | --- | | . | 技术难度高、 | | | 客户验证周期长、 | | o model o modelo de constr ...