首批！牵头组建四川省能源装备数智化技术创新中心 近日，由东方电气集团所属东方研究院牵头、东成研究院主要承担的四川省能源装备数智化技术创新中心正式通过四川省科技厅批复建设，是四川省首批 布局的10家省级技术创新中心之一。 四川省能源装备数智化技术创新中心，瞄准能源装备行业的"卡脖子"问题，以高价值应用场景为牵引，深度融合人工智能与数字化技术，重点攻关AI全链 条应用的六大核心领域，覆盖能源装备行业的经营管理、研发设计、工艺编制、生产制造、安全检测、智慧产品开发等关键环节，致力于构建能源装备行 业的人工智能应用体系，实现从"工具的革命"到"革命的工具"的效能目标，向覆盖全产业链的生态化应用演进。 东成研究院人工智能应用开发团队主要承担应用场景开发、数据处理、训练模型、评估和迭代、模型测试等任务。 当前，该中心已构建高质量行业数据集，在研参数优化模型、工艺自动生产模型、编程推理模型、多模态质检模型等5个行业模型及11个智能体已开展高 端装备智慧化系统、新型电力系统主动支撑、新型电气装备技术研发及应用。 该中心联合四川大学、电子科技大学、西南交通大学等高校，东方风电、四川能投天府新能源研究院等产业链企业构建"技术攻关 ...

Summary of Conference Call on Deep Sea Technology and Marine Economy Industry Overview - The focus of the conference call is on the **deep sea technology** and **marine economy** sectors, which are gaining significant attention in the market [1][2]. - The marine economy is projected to contribute **10 trillion yuan** to the national GDP by 2024, accounting for **7.8%** of the total GDP, indicating a substantial growth potential [2]. Key Points and Arguments - The government has recognized deep sea technology as a crucial component of the marine economy, emphasizing its role in driving economic growth [2][5]. - The marine economy's GDP contribution is noted to be **11.5%**, positioning it as a new engine for economic growth [2]. - Recent government reports have highlighted the importance of developing new technologies and products in deep sea technology, aiming for large-scale application and demonstration [2]. - The strategic importance of deep sea technology is underscored by historical remarks from national leaders, advocating for the establishment of deep sea research bases and the modernization of marine industries [3][5]. Development Plans and Trends - Coastal provinces are actively releasing development plans for high-quality marine economic growth, such as Shanghai's and Guangdong's recent initiatives [3]. - The marine economy encompasses various sectors, including deep sea technology, marine tourism, and marine fisheries, with a strong emphasis on marine equipment manufacturing and emerging industries [4]. - The deep sea technology sector is identified as a key pillar of the marine economy, with a focus on deep sea materials, equipment manufacturing, and application [5][6]. Equipment and Technological Needs - The development of deep sea technology requires advanced underwater equipment to address the complex challenges of deep sea exploration [7]. - The shipbuilding industry is experiencing a resurgence, with a **13.8%** increase in ship completion volume and a **58.8%** rise in new orders in 2024 [8]. - There is a growing demand for underwater robots and other specialized equipment for deep sea exploration and resource development [8]. Future Opportunities - The integration of digitalization and artificial intelligence in marine industries is anticipated to drive further advancements in deep sea technology [10]. - The establishment of underwater data centers is highlighted as a critical factor for enhancing data security and compliance for domestic and international enterprises [11][12]. - The marine communication sector is expected to grow alongside the expansion into deeper waters, necessitating improved communication technologies [12]. Conclusion - The deep sea technology and marine economy sectors present significant investment opportunities, driven by government support, technological advancements, and increasing market demand [1][2][5].

每日市场观察 2025 年 7 月 16 日 【今日关注】 周二两市早盘冲高回落午后缓慢回升。截至收盘，沪指跌 0.42%，深成 指涨 0.56%，创业板指数涨 1.73%。板块方面，互联网服务、游戏、软 件开发、通信设备、汽车整车、电源设备等涨幅居前；珠宝首饰、煤 炭、电力、采掘、能源金属、光伏设备等板块调整明显。两市跌多涨 少，其中上涨股票 1287 只，下跌股票数量 3872 只；沪深两市总成交 金额超 1.61 万亿，环比有所放大。 当下市场处于行情启动初期，其特征是股指慢涨急跌，权重股震荡向 上打开空间，并利用快速调整吸引投资者换筹提高持仓成本。如果投 资者持有的不是主流品种，就会陷于"赚了指数不赚钱"的境地。因 此在策略上，要么在回调中切换权重红利股，要么坚定持有优质品种 等待后面的普涨，切忌随意调仓。 在行情启动初期，权重板块是向上拓展空间的主力，它们上攻时间越 长，股指上涨的空间就越大，因此当下的调整空间和时间较为有限。 投资者切忌追涨杀跌增加持仓成本，可耐心等待调整结束后逢低吸纳 权重股、"中字头"、红利股或红利 ETF 等待涨。在市场调整中，部 分资金会流向人气题材股，生物医药、芯片、人工 ...

Group 1 - The A-share market showed mixed performance on July 16, with sectors such as telecommunications, social services, and automotive leading the gains, while the defense and military industry saw slight increases. The military industry has entered a phase of consolidation after previous corrections, with funds showing a clear trend of buying on dips [1] - The Aerospace ETF (159227) experienced a decline of 0.27% with a trading volume of 30.82 million yuan, ranking first among its peers. Notable stocks within its holdings, such as China Ship Emergency, New Jingang, and Changcheng Military Industry, showed significant gains [1] - The Aerospace ETF has seen a continuous net inflow of funds for 14 trading days, totaling 334 million yuan, reaching a new high of 589 million yuan in total assets, maintaining its position as the largest product tracking the sector [1] Group 2 - Pacific Securities indicates that the military industry is expected to emerge from a two-year period of stagnation, entering a phase of comprehensive recovery. As orders normalize and are gradually released, the military sector may experience a "Davis Double-Click" phase characterized by performance improvement and valuation enhancement [1] - The Aerospace ETF (159227) closely tracks the National Aerospace Index, focusing on core areas of military aerospace. This index has a high concentration, with the Shenwan first-level military industry accounting for 98.2%, making it the highest purity military index in the market [2] - The ETF serves as an efficient tool for investing in leading "fighter jet stocks," and it is currently the largest product tracking the National Aerospace Index by scale [2]

文 ： 华创证券研究所副所长 、首席宏观分析师 张瑜（执业证号：S0360518090001） 联系人： 陆银波（15210860866） 核心观点 对于二季度的经济点评，重点讨论量价再均衡问题 1 、首先， GDP 增速方面， 2 季度为 5.2% ，上半年为 5.3% 。意味着，全年实现 GDP 目标的难度大幅 降低。实际增速或并非下半年首要考虑问题。 2 、其次，从 GDP 名义增速方面， 2 季度为 3.94% 。其中，量的贡献率为 132% （以实际增速 / 名义增 速），价的贡献率为 -30.6%( 以平减指数 / 名义增速 ) 。 量价分配不均衡程度处于历史高位，政策对此或 关注度较高。 3 、解决量价分配不均衡的具体路径，整体而言或分三步走，不同行业可能进度有区别。第一步，反内卷、 遏制增量投资、改善企业现金流、提升居民消费意愿等。第二步，或通过兼并重组的方式实现落后产能的 去化。第三步，若上述两步并不能有效改善物价，或可能进行力度较大的去产能。 报告摘要 一、二季度经济的重点关注 1 ） GDP 增速： 2 季度， GDP 增速为 5.2% ，前值为 5.4% ，上半年累计增速为 5.3% ...

Economic Performance Overview - The GDP growth for the first half of the year is reported at 5.3%, with a second-quarter growth of 5.2% and a quarter-on-quarter increase of 1.1% [2][3] - The overall economic performance is described as stable with progress, achieved under challenging international conditions and increasing external pressures [3] Industrial Growth - The industrial added value for the first half of the year increased by 6.4%, with mining, manufacturing, and electricity sectors showing growth rates of 6.0%, 7.0%, and 1.9% respectively [5] - Advanced manufacturing and high-tech industries, particularly high-end equipment manufacturing, are identified as strong support for industrial growth [6][7] - A potential slowdown in industrial production is anticipated in the second half of the year due to export-related factors [8] Consumer Market Trends - The retail sales of consumer goods for June grew by 4.8%, a decrease of 1.6 percentage points from the previous month [10] - For the first half of the year, retail sales totaled 245,458 billion yuan, reflecting a 5.0% year-on-year increase [11] - Key trends in consumption include accelerated service consumption, enhanced holiday spending, and a rise in green consumption [12] Investment Dynamics - Fixed asset investment (excluding rural households) reached 248,654 billion yuan in the first half, with a year-on-year growth of 2.8% [16] - Infrastructure investment grew by 4.6%, while manufacturing investment increased by 7.5%, contrasting with an 11.2% decline in real estate development investment [16] - The investment structure is improving, with a notable increase in high-tech service industry investments [17][18] Future Outlook - The potential for fixed asset investment remains significant, with a focus on mobilizing private investment and optimizing investment environments [18] - The government is expected to enhance infrastructure investment through special bonds and long-term treasury bonds in response to economic fluctuations [19] - Over 300 billion yuan has been allocated to support the third batch of "two heavy" construction projects, with a total investment of 10.21 trillion yuan in projects being promoted to private capital [20]

Core Insights - China's import and export scale stabilized at 20 trillion yuan in the first half of 2025, marking a historical high for the same period, with an increase of over 600 billion yuan compared to the previous year [1] - The resilience of China's foreign trade is supported by a complete industrial system, which includes a wide range of products from labor-intensive to high-tech items [1][2] - High-tech product exports grew by 9.2% in the first half of the year, maintaining growth for nine consecutive months, with significant increases in high-end machine tools, ships, and marine engineering equipment [1] Group 1 - China's industrial robot export market share rose to second globally, with a 61.5% increase in exports in the first half of the year [1] - The complete industrial system allows China to meet diverse consumer needs across different countries and market segments, exemplified by targeted products like solar-powered phones and high-temperature resistant engines [2] - The strong industrial support capability enhances resource integration and promotes collaborative innovation, leading to continuous upgrades in export products [2] Group 2 - The proportion of self-owned brands in high-tech product exports reached 32.4%, indicating a growing emphasis on domestic brands in international markets [2] - Despite rising global unilateralism and protectionism, China is expected to continue its export growth efforts in the second half of the year [2]

7月15日，中化装备（600579）科技（青岛）股份有限公司（以下简称"中化装备"）发布公告称，公司 拟购买中国化工装备有限公司（以下简称"装备公司"）持有的益阳橡胶塑料机械集团有限公司（以下简 称"益阳橡机"）100%股权、北京蓝星节能投资管理有限公司（以下简称"蓝星节能"）持有的蓝星（北 京）化工机械有限公司（以下简称"北化机"）100%股权，并向不超过35名符合条件的特定投资者发行 股份募集配套资金。公司股票已于7月15日起停牌。 高溢价收购百年德企终抱憾离场 除了业绩的每况愈下，高额薪酬、管理不善等海外资产收购的"水土不服"症状愈发明显。在无法有效改 善业绩的情况下，中化装备采取裁员、出售资产等方式挽救业绩。2024年12月31日，中化装备宣布完成 出售装备卢森堡90.76%股权，装备卢森堡由中化装备全资子公司变更为参股子公司。 "中化装备将海外收购资产出清控制权的结局凸显了跨国并购的复杂性。"博星证券研究所所长兼首席投 资顾问邢星在接受《证券日报》记者采访时表示，"中国企业在进行海外资产收购时，应更加审慎评估 目标企业的实际价值、市场潜力及整合难度，制定科学合理的并购策略和整合计划。" 中化装备此次 ...

新华社杭州7月16日电 题：小球转动大市场——一家冰雪装备企业的跨界破局观察 新华社记者夏亮 注塑机有节奏地律动，带着余温的塑料半球被顶出，犹如珍珠般滚落，自动化的粘和臂迅速而精准地将 两个半球合二为一……盛夏时节，走进位于宁波余姚的雪鹰运动装备科技公司智能生产车间，一颗颗匹 克球正在全自动生产线上传送，一支支匹克球拍正在注胶成型，准备销往世界各地。 目前，袁永康的企业拥有儿童拍、玻璃纤维、冷压碳纤维、热压碳纤维以及国际最新采用的发泡工艺匹 克球拍等多种产品，匹克球的日均产值可达数万颗，球拍数千支。 袁永康坚信，匹克球对场地要求低，具有上手快等特点，市场前景十分广阔。于是，他成立匹克球俱乐 部大力组织匹克球公益推广活动，通过匹克球易上手的特点不断组织周赛、月赛、季度赛等，让更多的 群众了解匹克球，加入匹克球，爱上匹克球。 2024年初秋，宁波老外滩的滨江步道上，百组匹克球家庭挥动着霓虹夜光球拍，这场由雪鹰运动装备掀 起的全民运动热潮，正以日均落地5个社区的节奏席卷长三角。 从代工滑雪手套，到创立自主冰雪装备品牌，这家拥有国家高新技术企业、浙江制造"品字标"等九项资 质的制造企业，在冰雪装备出口市场收缩的情况下 ...

Economic Overview - The national economy demonstrated resilience and stability in the first half of the year, with a GDP of 66,053.6 billion yuan, reflecting a year-on-year growth of 5.3% [3] - The first, second, and third industries saw growth rates of 3.7%, 5.3%, and 5.5% respectively, indicating a balanced economic performance across sectors [3] Industrial Performance - Industrial production grew rapidly, with a year-on-year increase of 6.4% in the added value of large-scale industries [3] - The equipment manufacturing sector and high-tech manufacturing sector outperformed, with growth rates of 10.2% and 9.5% respectively, surpassing the overall industrial growth by 3.8 and 3.1 percentage points [3] Consumer Market - The total retail sales of consumer goods reached 24.55 trillion yuan, growing by 5.0% year-on-year, with a notable acceleration in the second quarter [8] - Service retail sales increased by 5.3%, while goods retail sales grew by 5.1%, indicating a shift towards service consumption [8] Investment Trends - Fixed asset investment rose by 2.8% year-on-year, with manufacturing investment growing by 7.5%, showcasing a continued expansion in investment scale [5] - High-tech industries, particularly information services and aerospace manufacturing, saw investment growth rates exceeding 20% [5] Income and Employment - The per capita disposable income for residents reached 21,840 yuan, with a nominal growth of 5.3% and a real growth of 5.4% [6] - Rural residents experienced faster income growth compared to urban residents, with rural disposable income growing by 5.9% nominally and 6.2% in real terms [6] Consumer Confidence and Future Outlook - The consumption market showed positive signs, with expectations for continued growth in the second half of the year supported by government policies [8] - The contribution of final consumption expenditure to GDP growth was 52%, highlighting its role as the main driver of economic growth [9]