Core Insights - The company is a rare player in the "AI for Science" sector, founded by three MIT physicists in 2015, focusing on quantum physics first-principles computing combined with AI and robotics to provide drug and materials science R&D solutions [1][2] - The company achieved a revenue of RMB 517 million in H1 2025, representing a year-over-year increase of 404%, with a net profit of RMB 83 million, a significant turnaround from a loss of RMB 362 million in the same period last year [1] Drug Discovery Solutions - The drug discovery solutions segment generated revenue of RMB 435 million in H1 2025, a year-over-year increase of 616%, accounting for 84% of total revenue [1] - The company signed a record-breaking collaboration with DoveTree worth HKD 47 billion (USD 5.99 billion), with an initial payment of USD 51 million and potential milestone payments totaling USD 58.9 billion [2] Pipeline Progress - The company’s incubated pipeline, RTX-117, received approval for clinical trials in China and has also been granted orphan drug designation by the FDA, allowing for expedited review and extended market exclusivity [3] - The global market for CMT treatment is projected to grow from USD 1.013 billion in 2024 to USD 11.394 billion by 2035, indicating significant clinical demand and market growth potential [3] Hair Growth Products - The company developed two innovative hair growth products, Remeanagen (XTP-118) and AquaKine (XTP-016), which have received FDA approval and are set to be launched in overseas markets [4] - The global hair loss treatment market is expected to reach USD 5.044 billion by 2025 and expand to USD 6.146 billion by 2033, with over 2.5 billion people affected by hair loss globally [4][5] Intelligent Robotics Solutions - The company established a scalable standardized intelligent robotics wet laboratory, automating over 80% of chemical experiments to enhance data accumulation and AI model iteration [6] - A strategic partnership with JinkoSolar aims to develop a fully closed-loop solar cell manufacturing line, integrating AI decision-making and robotic execution [6] Investment Recommendations and Profit Forecast - Revenue projections for 2025-2027 are RMB 787 million, RMB 998 million, and RMB 1.465 billion, with year-over-year growth rates of 195.3%, 26.8%, and 46.7% respectively [6] - The company is expected to transition from a "0 to 1" phase to a "1 to N" growth stage, with a validated business model and a high growth trajectory [6][7] Recommendation Logic - The company's foundation in quantum physics provides reusable capabilities in drug discovery and chemical raw materials, positioning it as a leader in the AI for Science infrastructure [7] - Collaborations with major pharmaceutical companies are anticipated to enhance R&D success rates and shorten development cycles, leading to stable cash flow contributions [7] - The partnership with JinkoSolar is expected to open broader application spaces in physical and chemical industries, enhancing the company's reputation and experience [7]

科技日报记者 符晓波 记者1月11日获悉，厦门大学材料学院张金宝教授团队与西安交通大学梁超教授团队成功开发了一种分 子压印退火新方法，可精准调控钙钛矿缺陷的形成与演变过程，为提升钙钛矿太阳能电池的稳定性提供 了新思路。最新研究成果9日发表在国际期刊《科学》上。 钙钛矿太阳能电池具有光电转换效率高、制作工艺简单、成本低等优势，是产业开发的重点方向。但制 作钙钛矿多晶薄膜的热退火步骤，易诱发碘空位等晶体缺陷的产生与累积，这些缺陷会加速钙钛矿结构 降解，导致电池在光照、潮湿、高温等环境下性能衰减，成为制约器件长期稳定的关键因素。 来源：科技日报 为了解决这一核心难题，研究团队提出一种全新的"固态分子压印退火"方法。在加热退火过程中，将一 种吡啶基分子模板压印在钙钛矿薄膜表面，无需添加任何额外溶剂，就能从分子层面"实时约束"钙钛矿 的缺陷演化。其中，优化设计的2-吡啶乙胺分子和钙钛矿表面欠配位的铅离子形成稳定的双齿配位结 构，在加热退火过程中，有效稳固铅-碘键的连接网络，从源头上阻止了碘空位缺陷的产生和扩散。 这种"边结晶、边保护"的方法，既能提高钙钛矿材料的结晶度，又能显著抑制晶体缺陷的产生和移动。 实验数据表明， ...

Investment Rating - The report indicates a cautious optimism regarding the oil market, with expectations that demand growth will exceed non-OPEC supply growth post-2027, suggesting a potential bottom for oil prices this year [1][4]. Core Insights - The oil market outlook has improved slightly, with investors showing a more favorable view on oil, while maintaining a cautious stance on natural gas [3][4]. - The natural gas market faces challenges due to an influx of liquefied natural gas (LNG) supply, with significant pressure anticipated from 2027 to 2029 [1][12]. - The overall activity level in the U.S. onshore oil and gas sector is expected to remain stable in 2026, with WTI crude oil prices potentially stabilizing around $40 per barrel [7]. - Canadian energy companies are gaining attention, with reduced selling pressure on Canadian oil stocks, particularly Suncor Energy, despite recent volatility due to geopolitical factors [9][10]. Summary by Sections Oil Market - Investors are slightly more optimistic about the oil market, with expectations of demand growth surpassing non-OPEC supply growth after 2027 [1][4]. - ConocoPhillips and Chevron are highlighted as companies to watch, particularly in relation to the evolving situation in Venezuela [5]. Natural Gas Market - The U.S. natural gas production is expected to grow at over 3%, but the LNG market is facing significant supply challenges [1][12]. - The report emphasizes a cautious outlook for natural gas, with a focus on the potential impacts of supply influx on pricing [12]. U.S. Onshore Oil and Gas Activity - The report anticipates that overall activity levels in the U.S. onshore oil and gas sector will remain stable in 2026, with no significant adjustments expected [7]. - The report notes that if WTI prices drop to the $40 range, the industry activity is likely to remain relatively stable [7]. Canadian Energy Sector - Canadian oil stocks are experiencing reduced selling pressure, with Suncor Energy being a notable player despite recent challenges [9][10]. - The report highlights the importance of Canadian companies in the global energy landscape, particularly in terms of technological innovation and sustainability [8]. Refining Industry - The global refining capacity is expected to grow at a slower pace than refined oil demand, leading to a structurally tighter market [22]. - The report suggests that the refining sector will perform well in the next 6 to 12 months, although it may face consolidation pressures [22].

来源：科技日报 End 欢迎分享给你的朋友！ 出品 | 中国能源报（c n e n e rg y） 中国科学家研究团队提出一种全新的"固态分子压印退火"方法，可精准调控钙钛矿缺陷 的形成与演变过程，为提升钙钛矿太阳能电池的稳定性提供了新思路。 1月11日获悉，厦门大学材料学院张金宝教授团队与西安交通大学梁超教授团队成功开发 了一种分子压印退火新方法，可精准调控钙钛矿缺陷的形成与演变过程，为提升钙钛矿太 阳能电池的稳定性提供了新思路。最新研究成果已发表在国际期刊《科学》上。 钙钛矿太阳能电池具有光电转换效率高、制作工艺简单、成本低等优势，是产业开发的重 点方向。但制作钙钛矿多晶薄膜的热退火步骤，易诱发碘空位等晶体缺陷的产生与累积， 这些缺陷会加速钙钛矿结构降解，导致电池在光照、潮湿、高温等环境下性能衰减，成为 制约器件长期稳定的关键因素。 为了解决这一核心难题，研究团队提出一种全新的"固态分子压印退火"方法。在加热退火 过程中，将一种吡啶基分子模板压印在钙钛矿薄膜表面，无需添加任何额外溶剂，就能从 分子层面"实时约束"钙钛矿的缺陷演化。其中，优化设计的2-吡啶乙胺分子和钙钛矿表面 欠配位的铅离子形成稳定的双齿配 ...

TOP创新区研究院 . 创新区研究，就在TOP研究院。TOP研究院专注于全球创新区的一体化研究，从Talent(个人), Organization(组织), Place(区域)三大维度出发，通过"研究/连接/分享"，探索中国创新区的实践路径。 生产效率大PK。 来源 / TOP创新区研究院 （ID：TOP_Lab） 为什么几乎所有东西都是"中国制造"？ 以下文章来源于TOP创新区研究院 ，作者趋势研究组 很多人会脱口而出："因为中国的人工便宜呗！" 这话在2 0年前或许没错。但今天，中国制造业产出约占全球总量的3 0 %，遥遥领先于美 国约1 6 %的份额。如果你还单纯认为是人力成本的原因，那就不对了。 最 近 ， 一 位 经 济 学 家 单 伟 建 (We i j i a n S h a n ) 做 了 一 件 很 有 意 思 的 事 ： 他 找 来 了 特 斯 拉 ——这个在美国和中国都有着几乎一模一样"超级工厂"的公司，进行了一次硬核的生产 效率大PK。 结果，令人震惊。 特斯拉的"双城记" 特斯拉的上海工厂和加州弗里蒙特工厂，可以说是"兄弟"工厂。它们使用相同的技术、 相 同 的 生 产 线 ， 制 ...

西安交通大学物理学院梁超教授团队联合厦门大学材料学院张金宝教授团队，在钙钛矿材料与器件物理 研究领域提出了一种全新的固态分子压印退火策略，为提升钙钛矿太阳能电池的稳定性提供了新思路。 相关研究成果1月9日在国际学术期刊《科学》杂志在线发表。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies, including Dongshan Precision (002384), which is preparing for a listing on the Hong Kong Stock Exchange [1][2] Group 1: Regulatory Requirements - Dongshan Precision is required to provide detailed explanations regarding its medical device production, commission agency, IT and socio-economic consulting services, solar product system installation and sales, and solar industrial technology research consulting services, including necessary qualifications and licenses [1] - The company must clarify whether its business scope involves areas listed in the "Special Management Measures for Foreign Investment Access (Negative List) (2024 Edition)" [1] - Dongshan Precision is asked to explain the pledge status of shares held by its controlling shareholders and actual controllers before and after the issuance, and whether this could lead to significant ownership disputes or changes in control [1] - The company needs to detail the compliance status of its overseas subsidiaries regarding foreign investment and foreign exchange registration procedures, providing conclusive legal opinions [1] Group 2: Company Profile - Dongshan Precision is recognized as the world's largest PCB supplier for edge AI devices, with products primarily used in smartphones, personal computers, automobiles, industrial applications, and IoT devices, and is rapidly expanding its capabilities into the data center terminal market [2]

编辑丨王多鱼 排版丨水成文 钙钛矿太阳能电池 具有光电转换效率高、制作工艺简单、成本低等优势，已经成为太阳能发电领域的研究热点，也是产业开发的重点方向。 然而，制作钙钛矿多晶薄膜过程中不可或缺的 热退火 步骤，常会诱发晶体缺陷 （例如碘空位） 的产生与累积，这些缺陷作为"诱发源"会加速钙钛矿结构的逐步 降解，进而导致电池在实际工作条件下 （光照、潮湿、高温环境等） 出现性能和稳定性的衰减，这也成为制约 钙钛矿太阳能电池效率提升与长期稳定性的关键 瓶颈。 2026 年 1 月 8 日， 厦门大学材料学院 张金宝 教授、 杨丽 助理教授，西安交通大学 梁超 教授为共同通讯作者 （ 厦门大学 胡健飞 、 福建农林大学 蔡庆斌 、 西安交通大学 林越辛 、厦门大学 肖远辉 为论文共同第一作者 ） ，在国际顶尖学术期刊 Science 上发表了题为： Molecular press annealing enables robust perovskite solar cells 的研究论文。 基于该策略制备的 n-i-p 结构钙钛矿太阳能电池， 小面积器件 （0.08 cm 2 ） 实现了 26.6% 的光电转换效率 （ ...

晶泰控股(02228)午后涨超7%，截至发稿，涨7.14%，报12.16港元，成交额8.13亿港元。 智通财经APP获悉，晶泰控股(02228)午后涨超7%，截至发稿，涨7.14%，报12.16港元，成交额8.13亿港 元。 消息面上，晶科能源近日宣布，与晶泰科技签署战略合作协议，双方将共同成立合资公司，推进基于 AI技术的高通量钙钛矿叠层太阳能电池合作研发。此举标志着两家正式开启在钙钛矿叠层等下一代光 伏技术领域的深度协同，旨在通过"AI+机器人"重塑光伏研发范式，加速颠覆性技术的研发与产业化进 程。 此外，晶泰控股公布，建议发行28.66亿元于2027年到期的零息可转换债券，初始转换价为每股13.85港 元，较1月7日收市价11.54港元溢价约20%，可悉数转换为2.07亿股，占扩大后股本约4.59%。所得款项 拟用于提升公司国内及国际研发能力以及一站式解决方案提供能力；提升国内及国际商业化能力，并扩 大业务发展及营销团队；透过兴建厂房扩大国内及国际交付及研发能力；营运资金和一般公司用途。 ...

此外，晶泰控股公布，建议发行28.66亿元于2027年到期的零息可转换债券，初始转换价为每股13.85港 元，较1月7日收市价11.54港元溢价约20%，可悉数转换为2.07亿股，占扩大后股本约4.59%。所得款项 拟用于提升公司国内及国际研发能力以及一站式解决方案提供能力；提升国内及国际商业化能力，并扩 大业务发展及营销团队；透过兴建厂房扩大国内及国际交付及研发能力；营运资金和一般公司用途。 晶泰控股(02228)午后涨超7%，截至发稿，涨7.14%，报12.16港元，成交额8.13亿港元。 消息面上，晶科能源近日宣布，与晶泰科技签署战略合作协议，双方将共同成立合资公司，推进基于 AI技术的高通量钙钛矿叠层太阳能电池合作研发。此举标志着两家正式开启在钙钛矿叠层等下一代光 伏技术领域的深度协同，旨在通过"AI+机器人"重塑光伏研发范式，加速颠覆性技术的研发与产业化进 程。 ...