Economic Overview - Zhejiang's GDP for the first half of the year reached 45,004 billion yuan, with a year-on-year growth of 5.8%, surpassing the national average [1] - The growth rates for the primary, secondary, and tertiary industries were 3.5%, 5.6%, and 6.0% respectively [1] - Industrial added value increased by 7.6%, while the service sector grew by 6.0% and agriculture by 3.6% [1] Export Performance - Zhejiang contributed 19.8% to the national export growth, the highest in the country [3] - Total import and export volume reached 2.73 trillion yuan, a 6.6% increase year-on-year, with exports at 2.07 trillion yuan, growing by 9.1% [3] - The export of mechanical and electrical products was 970.54 billion yuan, up 10.7%, accounting for 46.8% of total exports [4] Consumption Trends - Social retail sales in Zhejiang totaled 18,979 billion yuan, with a growth of 5.3%, accelerating by 0.8 percentage points from the first quarter [6] - E-commerce played a significant role, with online retail sales increasing by 27.4%, outpacing overall retail growth by 22.1 percentage points [7] - New retail formats, such as instant retail and flash sales, have emerged as key growth drivers [7] Industrial Development - The added value of industrial enterprises above designated size grew by 7.6%, with private enterprises contributing 77.9% to this growth [9] - Key manufacturing sectors, including computer communication electronics and automotive, saw growth rates of 18.0% and 17.6% respectively [9] - High-tech manufacturing and digital economy sectors also demonstrated robust growth, with increases of 12.7% and 12.0% respectively [10] Price Trends and Income Distribution - Consumer prices in Zhejiang saw a slight decline, with a year-on-year decrease of 0.2% [11] - The per capita disposable income for urban residents was 43,293 yuan, growing by 4.7%, while rural residents saw a 5.7% increase to 25,986 yuan [11] - The income gap between urban and rural residents has narrowed, indicating improved income distribution [11]

证券研究报告｜基金配置周报 2025 年 07 月 21 日 低空经济或告别"野蛮生长"，步入高质量发展阶段 【20250714-20250720】 ◼ 市场回顾：上周权益市场主要指数多数收涨，创业板指涨幅最 大，上涨 3.17%；债券市场长短端利率均有所下行，其中十年 期国债仅下行 0.01BP，一年期国债上行 2.12BP,期限利差有所 走阔，长短端 AAA 信用利差均有所收窄；基金市场中偏股基金 指数和二级债基指数均周度收涨，中长期纯债基金指数和短期 纯债基金指数有所反弹；申万 31 个行业涨跌互现，先进制造 板块集体反弹。 ◼ 权益类产品配置策略： ➢ 事件驱动策略：（1）低空经济安全健康发展专题会议召开，可 关注：华安制造先锋 A(006154)、博时军工主题 A(004698)和 华夏军工安全 A（002251）；（2）新能源行业开展"反内卷" 调研座谈，可关注：工银新能源汽车 A(005939)、鹏华新能源 汽车 A(016067)、博时新能源主题 A（013103）；（3）英伟达 CEO 黄 仁 勋 年 内 第 三 次 访 华 ， 可 关 注 博 时 半 导 体 主 题 A(012650)、嘉 ...

证券研究报告 行业研究 / 行业点评 2025 年 07 月 21 日 行业及产业 宇树科技启动 IPO 辅导，机器人资本化 进程再进一步 《智能制造行业周报：固态电池加速验证，整 线设备率先受益》2025-06-30 机械设备 一年内行业指数与沪深 300 指数对比走势： 资料来源：聚源数据，爱建证券研究所 相关研究 《智能制造行业周报：智元与宇树共获亿元大 单，机器人规模化落地进入新阶段》 2025-07-14 《智能制造行业周报：国产算力高景气，设备 确定性凸显》2025-07-06 《智能制造行业周报：重视 HBM 带来的先进 封装设备需求》2025-06-23 《智能制造行业周报：具身认知智能与运动控 制协同进阶》2025-06-18 王凯 S0820524120002 021-32229888-25522 wangkai526@ajzq.com ——爱建智能制造周报（2025/07/14-2025/07/18） 投资建议： 证券分析师 1）当前时点人形机器人板块具备较高配置性价比，叠加中报窗口期临近，建议关注具备业绩 支撑的"T 链"核心企业：【拓普集团】【震裕科技】； 2）算力高景气延续，我们认 ...

转自：新华财经 新华财经上海7月21日电（记者胡洁菲）作为重要的基础设施，低空经济的发展离不开低空网络通信能 力与感知能力的支撑。近日在上海举行的2025中国联通合作伙伴大会上，联通数字科技有限公司CTO杨 海明在接受新华财经记者专访时介绍，联通数科正积极通过五网融合构建数字基座，面向低空多元场景 孵化一系列网联创新能力，进一步打造6G空天地一体化的服务应用。 "运营商入场低空经济，绝不是简单卖流量卡。"杨海明说，传统运营商只提供通信管道，但低空飞行更 需要厘米级定位、实时气象预警、突发避障决策等数字化能力，这就要求通信网、感知网、导航网、算 力网、气象网这五网深度融合。 据他透露，中国联通已构建"1+1+3+N"低空能力体系：1张空天地一体化的低空智联网，1个融合时空大 数据，AI中台，数据中台的低空数智底座，低空安全监管平台、低空空域管理平台、智慧低空应用平 台3大核心平台，以及面向生产作业、公共服务、低空物流的N类应用场景。 "近些年来，中国联通大力投入边缘算力和终端算力，在客户韧性和终端服务能力上有较强优势。"杨海 明说，低空经济对网络的需求重点体现在更高品质、更高价值、更智能化的数据集，而中国联通在 ...

智通财经7月21日电，港股IP经济概念股午后持续下挫，巨星传奇跌超20%，阅文集团跌超5%。 ...

港股IP经济概念股午后持续下挫，巨星传奇跌超20%，阅文集团跌超6%。 ...

（原标题：超100个低空应用集结上海！） 周日的上海骄阳似火，波光粼粼的湖面成为了几十架低空飞行器"各显神通"的舞台。 2025年国际低空经济博览会将于本周开幕。作为展前活动，以"启航低空新赛道·赋能应用新场景"为主 题的低空百大应用飞行展演7月20日至7月21日在上海佘山月湖雕塑公园举行，30多家行业知名企业在此 展演了超100个低空应用科目。 只听一声巨响，灭火弹从消防无人机上落下，击中湖中目标，水面激起了白花花的波浪，四周旋即雾气 缭绕……这是天眸航空进行的森林消防应用演示。 据现场工作人员介绍，挂载50公斤灭火弹的无人机，可在森林消防中施展高效的应急灭火，尤其适用于 火势初期或人员难以抵达的复杂林区，能快速压制火情，减少火灾蔓延风险。 图：天眸航空进行的森林消防应用演示 随着头顶传来持续的嗡鸣声，一架搭载着透明盒子的无人机正向湖中央飞去。片刻后，盒子垂直落下， 并进行水质采样……这是幻飞智控带来的水质采样无人机。据介绍，这款产品不仅可以实现低空水质检 测，还可以应用于大气环境检测。 图：幻飞智控无人机 幻飞智控相关负责人对证券时报记者表示，该款产品搭载了两个检测设备。上方搭载的是气体检测仪， 可以进行 ...

Core Insights - In the first half of the year, Beijing saw a significant increase in newly established institutions, reaching 176,800, a year-on-year growth of 17.64%, marking a four-year high [1] - The growth is driven by the production service industry and digital economy, with cultural and elderly care industries also showing steady growth, contributing to the high-quality development of the capital's economy [1] Digital Economy and Core Industries - The number of newly established institutions in the digital economy and core industries reached 10,900, with a year-on-year increase of 53.92% [2] - The digital technology application sector accounted for 62.51%, with software development and IT services growing by 190.72% and 40.59% respectively, contributing 81.3% to the city's digital economy growth [2] - The new institutions in internet platforms, wholesale and retail, and digital content and media totaled over 2,500, with a growth of 48.17% [2] - The suburban areas (including Fangshan, Shunyi, Changping, Daxing, and Beijing Economic-Technological Development Area) saw 4,700 new institutions, a growth rate of 78.03%, representing 43.45% of the total new institutions in the digital economy [2] Elderly Care Industry - The elderly care industry established 81,400 new institutions, with a year-on-year growth of 22.5%, surpassing the city's average growth rate by 4.86 percentage points [3] - Institutions focused on elderly technology and smart elderly care services accounted for 66.02% of the total, with smart elderly care services growing by 96.08% [3] - Suburban areas contributed 34,100 new institutions, making up 41.86% of the total, with a growth rate of 46.43% [3] Production Service Industry - The production service industry saw 106,100 new institutions, with a year-on-year growth of 18.49%, leading among all sectors [4] - Key areas such as research and design, business services, and information services accounted for over 80% of the new institutions, with several sub-sectors growing over 30% [4] - Suburban areas emerged as a new growth point with 43,500 new institutions, a growth of 41.94%, representing over 40% of the total [4] Cultural and Related Industries - The cultural and related industries established 20,400 new institutions, with a year-on-year growth of 12.77%, continuing to improve from the first quarter [5] - Content creation and production institutions accounted for 69.71% of the total, with a growth rate of 103.56% driven by cultural tourism integration funds and performance investment platforms [5] - Suburban areas experienced a growth rate of 35.37%, while central urban areas accounted for 44.03% of the new cultural institutions [5]

7月18日，广发基金旗下广发成长领航A披露二季报，该基金管理人吴远怡表示，美联储降息周期推动全球流动性改 善，高股息资产(如金融、保险)表现强劲。同时，中国在AI、高端制造、医药创新等领域的技术突破，将持续带来 投资机会。 业绩上，广发成长领航A二季度表现亮眼，基金利润2648.86万元，加权平均基金份额本期利润0.26元。报告期内， 基金净值增长率为20.66%，截至二季度末，基金规模为2.01亿元。上半年该基金收益率达67.72%，在全市场中排名 前列。 | 1 | 09992 | 泡泡玛特 | 97.000 | 23,583,209.39 | 8.45 | | --- | --- | --- | --- | --- | --- | | 2 | 06181 | 老铺黄金 | 19.900 | 18,292,987.44 | 6.55 | | 3 | 600418 | 江淮汽车 | 417.800 | 16,749,602.00 | 6.00 | | 4 | 002940 | 昂利康 | 427.000 | 15,845,970.00 | 5.68 | | 5 | 688084 | 晶品特装 | 149.0 ...

■择远 近日，国家发展改革委召开专题会议，研究更好统筹发展和安全，因地制宜健康有序推动低空经济高质 量发展。会议明确，下大力气防止低空产业领域出现低效重复建设或低端恶性竞争的现象，规范低空产 业园区发展，整治不理性的建设行为。 低空经济作为一种新型的综合性经济形态，具有辐射面广、产业链条长、成长性和带动性强等特点，是 新质生产力的典型代表。自2024年起，"低空经济"已经连续两年被写入《政府工作报告》，展现出其在 国家战略布局中的重要地位。 我国地域辽阔，区域差异大、发展不平衡，产业发展规划必须基于当地实际情况进行科学评估。发展低 空经济亦是如此。因此，各地要结合自身产业特色，从当地客观实际出发，推动低空新产业 （300832）、新模式、新场景、新动能的差异化协同发展，找到最适宜的发展方向，形成独具特色的产 业优势，最终形成全国低空经济稳步发展的良好态势，逐步释放低空经济发展活力。 二是要进一步推动完善低空经济管理体系，更好统筹低空经济发展。 一方面，要强化低空经济规划统筹协调，推动政策体系不断健全，有力确保低空经济发展各项工作落地 见效；另一方面，要加快低空经济规范化、标准化建设，统筹各板块标准工作，夯实低 ...