6月5日下午，5位央企"工匠"代表身着所在岗位的工作服、带着各自的"看家本领"亮相国新办中外记者 见面会上，对外讲述他们的拿手绝活。他们既有航天一线工人、石油开采工人，还有锻造厂工人、高铁 工人和电网工人。 在非精密环境中，如何实现相当于头发丝1/20的微米级精度控制；从石头缝里挤油，如何练就看电流就 能判断井下状况等开采石油绝活；每天面对1250摄氏度高温活件，如何做到不出现有米粒大缺陷；参与 高铁从追赶到领跑，高铁工人如何从近2万根电缆中仔细辨别每根线线束特点；隔屏蔽服都能感受到电 流嗡嗡跑，是什么原因让电网工人勇于触摸1000千伏带电导线铤而走险。一起看看5位代表在这场见面 会上的"掏心窝"分享。 15年前，从高职毕业，何小虎如愿成为一名航天人，从事被誉为火箭"心脏"的液体火箭发动机相关零部 件生产加工工作。近年来，以微米级精度标定的液体火箭发动机的生产制造，对一线技能工人提出了更 高的要求。在他看来，自己的看家本领就是可以在非精密的环境中实现微米级的精度控制。 他记得，在某型号发动机研制过程中，有项关键部件的精度要求极高，公差只有0.008毫米，相当于头 发丝的1/10，最初的合格率只有20%。"我当 ...

Economic Weakness: Financial Magic of Wall Street - The U.S. boasts a GDP exceeding $29 trillion, yet its manufacturing sector has shrunk to only 11% of the economy, relying on foreign countries like Japan for essential materials [4][6] - The comparison of purchasing power reveals that China accomplishes tasks with $18 trillion GDP that the U.S. requires $29 trillion to achieve [4] - During the pandemic, the U.S. struggled to produce basic medical supplies, highlighting a significant gap in capabilities compared to China [4] Military Illusion: Rusty Aircraft Carriers and Overpriced Supplies - Despite having 11 aircraft carriers, only about 4 are operational, with high failure rates in advanced systems like the Ford-class carrier [6] - The Pentagon faces corruption issues, with exorbitant prices for basic items, indicating inefficiencies in military spending [6] - The U.S. military's performance in conflicts has been poor, exemplified by the 20-year engagement in Afghanistan that ended with a swift Taliban takeover [6] Debt Crisis: $36 Trillion Debt Burden - The U.S. government faces immense pressure from daily interest payments of $2 billion, with total national debt sufficient to purchase the entire European Union [7][8] - A significant portion of the population lacks health insurance, and many middle-class families struggle to survive financially during unemployment [7] - The decline of the dollar's credibility is evident as countries increasingly turn to alternative currencies for trade, with central banks selling U.S. debt and accumulating gold [7]

Group 1 - "Made in China 2025" aims to transform China from a "world factory" to a global high-tech manufacturing leader by 2025, with a target of 70% self-sufficiency in core components and key materials [3][4] - The initiative focuses on ten high-tech sectors, including semiconductors, robotics, new energy vehicles, aerospace, and biomedicine, supported by significant government funding and policy incentives [3][4] - From 2015 to 2022, over $1.3 trillion was invested in priority industries, with nearly 60% allocated to semiconductors and new energy vehicles, indicating a concentrated policy approach [4] Group 2 - The new energy vehicle (NEV) sector has seen remarkable success, with domestic NEVs capturing 80% of the market share in 2022, and companies like BYD ranking second globally in NEV sales [5][6] - High-speed rail has become a textbook success story, with Chinese companies now dominating the market, achieving a 90% share in high-speed rail signaling equipment [6][7] - In the new materials sector, China has significantly increased its production capacity, with a global share of 80% in petrochemical products from 2019 to 2022, and companies like Wanhua Chemical leading in the polyurethane market [7][8] Group 3 - Despite achievements, challenges remain in high-end manufacturing, particularly in semiconductors, where China's market share is only 1.9%, and reliance on imported equipment is high [8][9] - The aerospace sector faces similar issues, with the domestically produced C919 aircraft having only a 60% local content rate, heavily dependent on foreign suppliers for critical components [9][10] - The marine engineering and high-tech shipbuilding sectors also struggle, with less than 30% localization in high-tech ship equipment [10] Group 4 - The rapid advancements have led to some negative consequences, including resource wastage due to excessive government spending, with 30% of semiconductor project funds wasted on inefficient projects [11][12] - Overemphasis on industrial policy has resulted in production capacity outpacing consumer demand, leading to price wars and declining industrial profits [11][12] - In 2022, China's power battery production capacity reached 900 GWh, but actual demand was only 450 GWh, resulting in a 50% surplus [12][13] Group 5 - While China excels in low-end and mid-range markets, it still lags behind international giants in high-end sectors, with R&D investment significantly lower than that of the U.S. [13][14] - Foreign enterprises believe that Chinese competitors will take 5 to 10 years to catch up in technology, particularly in advanced fields like semiconductors and aerospace engines [14][15] - The decline in international scientific collaboration and increased trade tensions pose additional challenges for Chinese companies in sensitive technology areas [15]

Core Viewpoint - The article emphasizes the importance of implementing a regional linkage strategy to enhance the collaborative capabilities of the Wuhan metropolitan area, positioning it as a key driver for the development of the Yangtze River middle reaches urban agglomeration [1][2]. Group 1: Regional Development Strategy - Wuhan is positioned as the leading city in the Yangtze River Economic Belt and the central city of the middle reaches urban agglomeration, playing a crucial role in regional collaborative development [2]. - The goal is to achieve a GDP of approximately 4.3 trillion yuan for the Wuhan metropolitan area by 2027, while promoting the collaborative development of the Han-Xiang-Yi "Golden Triangle" [2][3]. - The city aims to enhance urban-rural integration and promote a "multi-center, group-style" layout to facilitate regional cooperation [2][3]. Group 2: Urban Integration and Infrastructure - The Wuhan metropolitan area contributes over 60% to the province's economic total, highlighting its significance in driving high-quality economic development [3]. - Key projects include the construction of high-speed rail and highways, as well as the development of international trade and logistics capabilities [4][5]. - The city plans to accelerate the construction of new urban areas and improve infrastructure to enhance the metropolitan area's influence [3][4]. Group 3: Collaborative Mechanisms and Partnerships - The article outlines the establishment of a cooperative mechanism among provincial capital cities in the Yangtze River middle reaches, with ongoing meetings and collaborative activities to strengthen partnerships [6][7]. - Efforts will be made to enhance connectivity and mutual cooperation in various sectors, including technology and industry [6][7]. - The city will also focus on expanding cooperation in market regulation and cultural exchanges among the cities in the region [7].

Core Viewpoint - The articles emphasize the importance of building a self-controlled, secure, and reliable domestic production and supply system in key areas related to national security, enhancing the resilience and safety of industrial and supply chains, and fostering technological innovation to maintain a competitive edge in the global market [2][3][4][5] Group 1: Industrial Chain and Supply Chain Resilience - Enhancing the resilience and safety of industrial and supply chains is crucial for developing new productive forces and ensuring economic stability and growth [3] - China's industrial system is the largest and most complete globally, with over 220 out of 500 major industrial products ranking first in global output, contributing approximately 30% to global manufacturing value added in 2023 [3] - There are existing issues within China's industrial chain, such as being "large but not strong" and "complete but not refined," indicating a need for improvement in resilience rather than just length [3] Group 2: Addressing Weaknesses and Strengthening Strengths - Addressing weaknesses involves constructing a self-controlled and reliable domestic production supply system in critical areas to ensure economic operation during extreme situations [4] - Strengthening strengths requires consolidating and enhancing the international leading position of advantageous industries, particularly in high-speed rail, power equipment, new energy, and communication devices [5] - The focus should also be on fostering new industries and technologies, such as 5G, smart connected vehicles, and new materials, to create new advantages for future development [5]

Group 1 - China's aviation engine "Taihang 2" pure hydrogen gas turbine has achieved a cumulative operation time of over 7000 hours for the first unit and over 5000 hours for the second unit, marking a successful commercialization of the 2MW pure hydrogen gas turbine [2] - The low-altitude economy is driving the popularity of drone pilots, with over 225,000 registered drone pilot licenses in China as of June 2024, and more than 2000 training institutions available [3] - Shenzhen has established its first pharmaceutical and medical device industry overseas joint venture, aiming to create a platform for local companies to connect with global markets [4] Group 2 - China's marine economy has surpassed 10 trillion yuan for the first time, showing a growth of 5.9% compared to the previous year, with the marine engineering equipment manufacturing sector maintaining the largest global market share for seven consecutive years [5] - The first large-scale lithium-sodium hybrid energy storage station in China has been put into operation, with a capacity of 400 MWh and a green energy ratio of 98% [6] - The Yukun high-speed railway's Ningjingli tunnel has been safely completed, contributing to the construction of the railway with 40 tunnels already completed in the Yunnan section [7][8] Group 3 - Yunding Technology has launched an industrial vision intelligent all-in-one machine in collaboration with Ascend, featuring high computing power and supporting over 100 channels of 1080P video processing [9] - A Chinese team has overcome challenges in the large-scale production of third-generation photovoltaic technology, achieving stable mass production of perovskite solar cells [10] - QQ Browser has introduced an AI tool named "AI Gao Kao Tong" to assist students in exam preparation and college application processes [11] Group 4 - Market rumors suggest that Sais Technology's humanoid robot prototype is ready for demonstration, although the company has not confirmed this information [12] - U.S. President Trump has threatened to impose tariffs of 50% on the EU and 25% on Apple, causing declines in Apple stock and U.S. stock futures [13] - Experts have commented on the impracticality of relocating iPhone production to the U.S., citing high costs and potential price increases for consumers [14] Group 5 - Japan's consumer price index for rice has seen a dramatic increase of 98.4% year-on-year in April, marking the highest increase since 1971 [15] - Nissan is considering selling its Yokohama headquarters as part of its restructuring plan, which may incur an additional 60 billion yen (approximately 418 million USD) in costs [16] - Elon Musk praised Google's new AI video generation model, Veo 3, during a developer conference, while also announcing his return to a 24/7 work schedule [17]

这一动作,被业内视为惠选订房从行业鲶鱼向龙门跃迁的关键一役,也是资本寒冬中罕见的逆势豪赌。 李嘉诚盯上的项目 这次亿级合作背后,藏着一场跨越20年的资本轮回。故事的起点,要从李嘉诚多年前的一笔投资说起。 5月17日,中国酒店行业与数字广告领域同时迎来一场"巨震"。 以"滴滴订房"模式颠覆酒店行业的惠选订房,与"中国高铁传媒第一股"兆讯传媒达成了亿级传播合作。 早在1998年,美国诞生了一家名为Priceline的旅游服务企业。该公司的独特之处在于开创了一种全新的商 业模式——Name Your Price。 Name Your Price的中文含义是"用户定价",即商品或服务的价格由消费者确定,符合条件的商家可根据消 费者的报价进行抢单。 "用户定价"模式的价值体现在,它既为用户节省了成本、提高了消费效率,又为商家带来了更多客源、提 升了销售业绩。 凭借这一创新模式,Priceline成立当年便获得了一亿美元的融资,不到两年时间就在纳斯达克成功上市,甚 至引起了李嘉诚的关注。 2001年,当互联网泡沫破灭,Priceline股价跌至冰点,李嘉诚以7352万美元抄底,最终控股这家以"用户定 价"模式横扫全球的在 ...

Core Viewpoint - The report highlights that 联美控股 (600167) is expected to see performance improvement in 2025 due to continued growth in heating area and declining coal prices, despite a decrease in net profit for 2024 [1][2]. Financial Performance - In 2024, the company achieved total revenue of 3.509 billion yuan, a year-on-year increase of 2.87%, while net profit attributable to shareholders was 659 million yuan, a decrease of 23.29% [1]. - For Q1 2025, the company reported total revenue of 1.698 billion yuan, a year-on-year decrease of 1.06%, and net profit attributable to shareholders of 618 million yuan, an increase of 9.56% [1]. - The heating and steam business generated revenue of 2.275 billion yuan in 2024, up 4.05% year-on-year, with a gross profit of 556 million yuan, an increase of 10.96% [1]. Market Conditions - The average heating area for the company was approximately 77.04 million square meters in 2024, with a connected area of about 107.91 million square meters, showing slight growth compared to the same period in 2023 [1]. - Since March 2025, the rapid decline in domestic thermal coal prices is expected to positively impact the company's performance, although the timing of the price drop is close to the end of the heating season [1]. Cash Flow and Valuation - As of March 31, 2025, the company had cash on hand of 7.393 billion yuan and interest-bearing liabilities of approximately 1.9 billion yuan, resulting in a net cash position of about 5.5 billion yuan [3]. - The company's market capitalization was 13.8 billion yuan, and after accounting for net cash, the valuation of operating assets was 8.3 billion yuan, equivalent to 5-6 years of operating cash flow [3]. Profit Forecast - The company is projected to achieve net profits of 817 million yuan, 853 million yuan, and 874 million yuan for the years 2025, 2026, and 2027, respectively [3]. - The current stock price corresponds to a price-to-earnings ratio (PE) of 17, 16, and 16 for the years 2025, 2026, and 2027 [3].

近年来，法中合作不断深化，尤其在第三方市场合作方面展现出巨大潜力。法国是最早与中国建立第三 方市场政府间合作机制的国家。自2015年双方发表关于第三方市场合作联合声明以来，两国已携手在非 洲、中东欧等地区推进多个项目。2022年，法中签署了第三方市场合作第四轮示范项目清单，涵盖基础 设施建设、环保、新能源等领域7个项目，总金额超过17亿美元。这一创新的国际合作模式，融合法中 双方的技术优势与实践经验，为互利合作提供了切实可行的新路径。 当人们探讨全球未来的发展路径时，所期盼的并非冲突与对抗，而是携手构建人类命运共同体。未来的 世界，不应由单一力量主导，也不应陷入大国博弈的制衡格局，而应如一首多声部的交响乐，和谐共 鸣、协同前行。正如贝多芬在《欢乐颂》中借席勒诗句所描绘的——"人们团结成兄弟"，法中两国应以 包容合作、共同发展为主旋律，共同谱写属于这个时代的新乐章。 （作者为法国席勒研究所研究员） 《 人民日报 》（ 2025年05月19日 02 版） (责编：岳弘彬、牛镛) 2023年冬天，我参观了位于广东深圳的大湾区国际疫苗创新中心。那是一个由法国和中国联合建设的国 际化疫苗创新平台，双方在知识科普、人才培 ...

重要提示：本材料不构成任何形式的要约、承诺或其他法律文件，亦非任何投资、法律或财务等方面的专业建议。过往业绩不预示 未来表现。投资须谨慎。 多年前，哈佛大学增长实验室与麻省理工学院等机构的学者在《经济复杂度图册——通往繁荣之路》 （The Atlas of Economic Complexity - Mapping Paths to Prosperity）一书中，将国家经济发展比作一场拼 字游戏。作者用经济复杂度来衡量一个国家或地区所拥有的生产性知识的多样性和整合能力，进而代表 经济发展状况。换做拼字游戏，如下图所示，就是每一个玩家拥有的字母卡，代表不同生产性知识所体 现的能力；拼出的单词代表其产品。一个国家能够生产的产品种类越多，说明其掌握的能力模块（如技 术、工艺、管理经验）越丰富。这个国家能否将不同能力模块组合成高附加值的产品，体现其经济复杂 度的水平。 来源：哈佛增长实验室网站。 中国自改革开放以来的经济发展，尤其是制造业的崛起，完全契合了上面这一逻辑——从最初仅能拼凑 简单的词汇（低端制造），到逐步积累字母（制造业的发展），最终组合出复杂单词（迈向高端制 造），实现了经济结构的跃升。 截至2024年 ...