Group 1 - Nanjing Economic Development Zone has recently secured significant domestic and international project orders, showcasing "Nanjing Intelligent Manufacturing" through advanced technology and quality [1] - Kanni Electromechanical, a core supplier for global high-end railway manufacturer Stadler, has customized 11 modular products for a major project, ensuring a lifespan of 40 years and aiming to deliver 557 railway cars by 2030 in Kazakhstan [1] - The Guangzhou Metro Line 10 has officially opened, featuring the highest level of automation (GoA4), with China Railway Baogao Nanjing Company supplying key switch systems [2] Group 2 - China Construction Fifth Engineering Division has successfully completed the first batch of 8 giant wind power tower tubes for the ACWA Egypt wind power project, with a total installed capacity of 1100 MW, contributing to Egypt's energy transition [2] - The project team faced challenges such as tight schedules and complex logistics, implementing a dual-shift system to ensure high-quality delivery of over 20,000 tons of tower tubes [2] - Nanjing Port Machinery Heavy Industry has delivered a multi-purpose crane to a Vietnamese client, marking the third batch of equipment purchased, demonstrating trust in the company's technology and service [3]

| 率、产品质量、创新能力等方面实现质的飞跃，持续推动公司 | | --- | | 产业转型升级。公司在集装箱港口起重机、移动式港口起重机、 | | 散料装卸及输送装备等产品已逐步实现智能化、自动化科技研 | | 发和应用，助力客户打造自动化、无人化港口码头，提升港口 | | 码头的运营效率，共同推动全球港口码头物流行业的智能化转 | | 型。 | | 截至目前，公司已获得多个港口码头的自动化设备订单和设备 | | 自动化升级改造订单，后续公司将进一步加大技术研发力度， | | 不断提升公司高端装备产品的智能化和自动化水平。 | | 3、问：公司未来业绩增长主要来自于哪些方面？ | | 答：物料起重搬运装备业务和船舶海工装备业务将是公司未来 | | 几年内的主要业绩增长点，公司将不断通过技术创新及全球化 | | 的业务布局，促进公司整体业务规模的不断扩大。 | | 4、问：通州湾基地目前建设进展情况以及未来业务布局情况 | | 如何？ | | 答：目前公司正在通州湾投建"通州湾装备制造基地项目"， | | 进一步在海洋工程装备、物料起重搬运装备、船舶及配套装备 | | 等领域展开业务布局，扩充公司高端装备业务 ...

Group 1 - In the first half of the year, 51 foreign manufacturing and R&D projects were signed in the Yangtze River Delta, with a notable increase in European projects and a decrease in American projects [1][3][4] - The investment landscape has shifted, with Europe becoming the primary source of foreign investment, accounting for 35 projects, predominantly from Germany and Italy [3][4] - Major sectors attracting foreign investment include the automotive industry, healthcare, and equipment manufacturing, which together represent over 60% of the total projects [1][5] Group 2 - Global capital, including ESR and CapitaLand, is betting on the value of industrial real estate assets in China through high-standard industrial park developments and REITs [2][6] - Industrial park REITs are expected to yield higher returns compared to traditional logistics and warehousing investments, indicating a potential new trend in Asian industrial assets [6][7] - ESR has invested approximately 14 million square meters in industrial parks in mainland China, with a significant focus on advanced manufacturing facilities [6][7]

Group 1 - Dongguan is witnessing a transformation in its manufacturing sector, driven by technological innovation and strong industry collaboration [1][2] - The Xbot Park robotics base has supported over 140 hard-tech companies, with six achieving valuations over $1 billion [9][10] - The number of intelligent robotics companies in Dongguan exceeds 7,000, ranking among the highest in the country [10] Group 2 - Benmo Technology, established only five years ago, has developed direct-drive motors for consumer products, with an estimated market size of nearly 100 billion yuan in the home cleaning robot sector [2][6] - Jilun Intelligent has evolved from a small mechanical factory to a comprehensive manufacturing enterprise, focusing on tire molds, tire vulcanizers, industrial robots, and precision machine tools [11][15] - Sanhuan Group has made significant advancements in multi-layer ceramic capacitors (MLCC), achieving a breakthrough in the thickness of dielectric layers from 5 micrometers to less than 1 micrometer [19] Group 3 - Guangdong has formed nine trillion-yuan industrial clusters, with eight advanced manufacturing clusters recognized at the national level [19] - The province aims to cultivate more leading enterprises worth hundreds of billions and trillions, enhancing its competitive advantage in manufacturing [19]

Core Viewpoint - The State Administration for Market Regulation and the Ministry of Industry and Information Technology have issued the "Action Plan for Measurement Support for the Development of New Quality Productivity (2025-2030)", focusing on enhancing measurement capabilities in various key industries through advanced technologies such as artificial intelligence and smart manufacturing [1][2]. Group 1: Overall Requirements - The plan aims to support the development of new quality productivity by addressing major measurement needs in key industries, including information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine, quantum technology, integrated circuits, and instruments [1][2][3]. Group 2: Key Areas of Focus - **New Generation Information Technology**: Focus on measurement needs in advanced information technology fields such as chip development and high-precision time-frequency services [2]. - **Artificial Intelligence**: Emphasize the establishment of measurement testing platforms for AI algorithms and systems, enhancing evaluation capabilities [2]. - **Aerospace**: Conduct research on measurement technologies for spacecraft, commercial aircraft, and low-altitude economy [3]. - **New Energy**: Address measurement needs in solar, wind, nuclear, and hydrogen energy sectors, focusing on safety and efficiency [3][4]. - **New Materials**: Develop measurement methods and standards for advanced materials used in defense and emerging industries [5]. - **High-End Equipment**: Research measurement technologies for intelligent transportation and manufacturing equipment to reduce reliance on imports [6]. - **Biomedicine**: Focus on measurement technologies for pharmaceuticals and medical devices to enhance healthcare outcomes [7]. - **Quantum Technology**: Develop precision measurement technologies for quantum communication and computing [8]. - **Integrated Circuits**: Address measurement challenges in the integrated circuit industry, including standardization and defect detection [9]. - **Instruments and Meters**: Innovate measurement technologies for high-end instruments to support domestic production [10]. Group 3: Implementation and Management - The plan includes a project demand collection process, establishment of a project database, selection of key projects, and a comprehensive management system to ensure effective implementation and monitoring [8][9][10].

Core Viewpoint - The high-end equipment sector is experiencing mixed performance, with the high-end equipment ETF showing a recent upward trend, indicating potential growth opportunities in the industry driven by modernization and geopolitical factors [1][2]. Market Performance - As of July 9, 2025, the CSI High-end Equipment Sub-index fell by 0.01%, with notable gainers including Beifang Navigation (+2.91%) and Sichuan Aerospace (+1.87%), while Jiuzhiyang led the declines [1]. - The high-end equipment ETF has seen a cumulative increase of 6.84% over the past two weeks as of July 8, 2025 [1]. Liquidity and Fund Flow - The high-end equipment ETF recorded a turnover rate of 2.71% with a transaction volume of 32.77 million yuan, and the average daily transaction volume over the past month was 55.20 million yuan [2]. - The latest scale of the high-end equipment ETF reached 1.18 billion yuan, with a net inflow of 7.55 million yuan recently, indicating strong investor interest [2]. - Over the past five trading days, there were net inflows on four days, totaling 15.10 million yuan [2]. Performance Metrics - The high-end equipment ETF's net value increased by 34.68% over the past year, with the highest single-month return recorded at 19.30% since inception [2]. - The longest consecutive monthly gain was two months, with a maximum increase of 29.39% and an average monthly return of 6.55% [2]. Industry Outlook - According to Zheshang Securities, 2025 marks the conclusion of the "14th Five-Year Plan," with an acceleration in national defense equipment modernization expected to boost industry prosperity [2]. - Ongoing regional political conflicts are providing practical validation for China's military export equipment, leading to potential revaluation of military enterprises [2]. - The establishment of a low-altitude leadership group by the Civil Aviation Administration is expected to drive the low-altitude economy, while the C919 aircraft production is accelerating, presenting opportunities for international expansion and self-sufficiency [2]. - The shipbuilding and deep-sea technology sectors are also showing upward trends, with continuous profit improvements and significant restructuring opportunities [2]. Top Holdings - As of June 30, 2025, the top ten weighted stocks in the CSI High-end Equipment Sub-index accounted for 45.22% of the index, with notable companies including AVIC Shenyang Aircraft Company and Aero Engine Corporation of China [3].

Group 1: Youth Innovation and Economic Development - The youth group in Shandong is playing a vital role in driving technological innovation and high-quality development of the private economy [1][4] - A significant number of young talents are emerging as leaders in various industries, helping private enterprises to break international monopolies and enhance their competitive edge [2][3] - The average age of teams in leading companies is notably low, with many teams consisting of individuals under 30, showcasing the impact of youth on innovation [2][3] Group 2: Industry-Specific Innovations - Li Hua Yi Group's ASA resin project, with an investment of 2.2 billion, has successfully broken foreign monopolies in high-end chemical materials, largely due to the contributions of young talents [2] - In the field of groundwater monitoring, a team led by a young manager developed a remote monitoring system that fills a domestic gap and enhances data security [3] - The transformation of Century Kaiyuan from a small printing shop to a leading industrial internet printing enterprise exemplifies the power of youth-driven innovation [3] Group 3: Strategic Emerging Industries - Youth teams are actively contributing to the rise of strategic emerging industries such as new energy materials, high-end equipment, and modern medicine, injecting vitality into Shandong's high-quality development [5][6] - The development of energy-efficient products, such as the "Zhenhao" series by Linuo Ritter, demonstrates the focus on sustainable solutions and significant cost savings for consumers [5] - The successful research and development of domestic alternatives for key technologies, such as silicon carbide DPF, highlights the role of youth in overcoming industry challenges [6] Group 4: Digital Transformation and Smart Manufacturing - Companies like Huatai Group are embracing digital transformation, with young engineers leading the development of industrial internet platforms that enhance operational efficiency [7] - The overall strength and innovation capability of Shandong's private economy are continuously improving, driven by the youth's engagement in high-end, intelligent, and green manufacturing [7][8] Group 5: Economic Contribution of Private Enterprises - Private enterprises in Shandong account for 51.7% of the province's GDP, 63.5% of private investment, and 75% of total imports and exports, underscoring their critical role in the economy [8][9] - The youth's proactive engagement with new technologies and industries is essential for the growth of emerging sectors in Shandong [9]

(活力中国调研行)"关中粮仓"智造新名片 陕西渭南"印"就产业新生态 中新社陕西渭南7月9日电 题："关中粮仓"智造新名片 陕西渭南"印"就产业新生态 作者 杨英琦 保温隔热的泡面桶、图案丰富的零食袋、精致小巧的香烟盒……或许很少有人想到，这些款式精美、外 形各异的日常产品包装，大部分有着同一个源头——素有"关中粮仓"之称的陕西渭南。 根植于农耕沃土，成长于渭水之畔的印刷包装产业，已然成为渭南的城市新名片。数据显示，渭南生产 的高端凹版印刷机、印刷机械控制系统等产品在中国国内市场占有率已超过70%，服务中国国内90%以 上软包装印刷企业，印刷机械相关产品畅销世界30多个国家和地区。 走进位于渭南高新区的陕西北人印刷机械有限责任公司(以下简称：陕西北人)制造车间，宽阔的厂房 内，摆放着各式各样已经组装好的印刷机，各条装配生产线上，员工熟练地操作机器、组装零部件。 "这台至睿4.0智能高速凹版印刷机，广泛应用于各类食品、药品、日化等包装的印刷，其印刷色数达到 10色，可以更加精准、智能地还原图案色彩，大幅提升了印刷品质。"陕西北人印刷机械有限责任公司 技术中心办公室副主任陈明辉说。 经过半个多世纪的发展，如今的陕 ...

Summary of Deep Sea Technology and Marine Economy Conference Call Industry Overview - The deep sea technology and marine economy are recognized as key pillars in the national strategy, with the national marine production value expected to exceed 10 trillion yuan in 2024, accounting for 7.8% of GDP and contributing 11.5% to GDP growth [1][3][4]. Core Insights and Arguments - The government has placed significant emphasis on deep sea technology, highlighting its importance alongside commercial aerospace and low-altitude economy in the work report, indicating a period of rapid development supported by policy [1][3][5]. - Deep sea technology encompasses three main areas: deep sea material research and development, deep sea equipment manufacturing, and deep sea tool application, with structural and buoyancy materials being critical [1][6]. - The marine equipment manufacturing sector is experiencing new opportunities, particularly in underwater detection technology, underwater construction technology, and oil and gas production equipment, with significant growth potential in underwater robots and related fields [1][7][8]. - The shipbuilding industry is at a peak due to the shipping cycle, with shipbuilding completion volume expected to grow by 13.8% year-on-year in 2024, and new orders increasing by 58.8% [6][8][10]. Investment Opportunities - Investment opportunities exist in deep sea technology, particularly in high-performance steel, alloy materials, and composite materials that are resistant to corrosion and high pressure [6]. - Companies such as Baotai Co., Baose Co., and Steel Research High-Tech are noted for their competitive edge in these segments [6]. - The marine equipment manufacturing industry is poised for growth, with a focus on underwater exploration and military equipment, supported by a favorable policy environment [9][10]. Additional Important Insights - The development of offshore wind power is currently concentrated in nearshore areas, but there is significant potential for growth in deep offshore wind power, which will increase demand for submarine cables and related infrastructure [11][12]. - The trend towards digitalization and intelligence in deep sea technology is accelerating, with the construction of underwater data centers addressing cooling and land cost issues while ensuring data security and compliance [2][13][14]. - Marine communication, particularly its integration with AI, is identified as a promising direction for future development in deep sea technology [15].

Group 1 - The 17th China International Modern Railway Technology Equipment Exhibition commenced on July 8 in Beijing [1] - The CR450 model, a new addition to the Fuxing family, has achieved a test speed of 450 km/h, providing a 10% margin for future operations at 400 km/h while maintaining standards for braking distance, noise, and energy consumption at 350 km/h [5] - The "Snow Domain Pioneer," China's first high-altitude, cold-weather, large-diameter hard rock tunneling machine, features advanced geological forecasting capabilities, allowing for real-time detection of adverse geological conditions up to 100 meters ahead without stopping [8] Group 2 - The world's largest tower crane model can lift materials weighing 600 tons to a height of 92.5 meters and has set 10 world records, currently utilized in major railway bridge construction projects [10] - The exhibition features 521 companies from 14 countries and regions, including major international players like Siemens, Alstom, and Westinghouse, showcasing the latest technological advancements in the railway equipment manufacturing sector [12]