近日，在备受瞩目的2025企业科技创新发展论坛上，长城战略咨询正式发布《GEI中国潜在独角兽企业榜 单2025》。其中，西安高新区表现亮眼，共有奇点能源、北极雄芯、领充新能源、天回航天、星源博锐等 五家企业强势登榜。 独角兽企业代表新经济业态，通过颠覆性创新推动新质生产力发展，在推动科技进步、创造就业和社会变 革方面发挥重要作用。作为独角兽企业的"后备军"，潜在独角兽企业在引领科技创新、开拓新领域新赛道 等方面发挥着重要作用。此次上榜的五家企业，不仅彰显了西安高新区在培育高成长性创新企业方面的强 劲动能，也印证了区域创新生态对前沿科技赛道的精准布局与孵化能力正加速转化为产业竞争优势。 据了解，本次发布的榜单全国累计上榜816家企业，西安市9家，高新区5家企业上榜。作为潜在独角兽企 业，它们的创新不仅体现在技术上，更在于对产业模式的重新定义和对市场趋势的前瞻布局。 其中，奇点能源通过电力高效存储及变换技术，致力于先进储能系统中核心装备的技术研究和产品开发。 作为分布式储能领域的引领者，其自主研发的智慧能量块产品eBlock将长寿命电芯、高效均衡BMS、高性 能多功能PCS、主动安全系统和高效热管理系统融于单个机 ...

今日早参 2025 年 12 月 23 日 何康 策略首席研究员兼金融工程首席研究 员 座机：021-28972202 邮箱：hekang@htsc.com 今日热点 金工：2025 年外资买入哪些中国资产 ETF 截至 2025 年 12 月 20 日，2025 年以来全球投资于中国资产的 ETF 累计获 得 831 亿美元的资金净流入。其中，境内 ETF 累计获资金流入 786 亿美 元，境外 ETF 则累计净流入约 45 亿美元。从总体数值来看，外资买入中国 资产占比较小；然而，就内部分化情况来看，2025 年以来外资对境内资产 的配置存在显著倾向性：就行业分布来看，科技板块获外资流入最多，达 95 亿美元，主要来自美国和欧洲地区；就具体产品而言，外资流入排名前 10 的 ETF 中有六只为科技 ETF，排名前 3 的 iShares 中国科技 UCITS ETF、 Invesco 中国科技 ETF 和 KraneShares CSI 中国互联网 ETF 获资金净流入 均超过 20 亿美元。 风险提示：本报告不涉及证券投资基金评价，不涉及对具体基金产品的投资 建议，亦不涉及对具体个股的投资建议；投资者需 ...

Group 1 - The public fund annual report for 2025 is expected to show that over 90% of actively managed equity funds achieved positive returns, with 39 funds doubling their net value [1] - In December, stock ETFs saw a net subscription of over 400 billion shares, with broad-based ETFs attracting significant investor interest, totaling a net inflow of 11.137 billion yuan [1] - Analysts predict a "new capital influx" in 2026 for A-shares and Hong Kong stocks, driven by both domestic and foreign investments, reflecting improved funding expectations [1] Group 2 - The Shenzhen stock market has seen over 1,100 disclosed mergers and acquisitions this year, with a total value of 553.7 billion yuan, marking a 54% and 55% year-on-year increase respectively [2] - The trend of "industrial mergers and new productive forces" is evident, with 80% of major asset restructurings being industrial mergers, particularly in sectors like semiconductors and information technology [2] - Companies are increasingly using various strategies to avoid delisting, focusing on substantial improvements rather than technical maneuvers, as regulatory scrutiny intensifies [2] Group 3 - The artificial intelligence sector is experiencing a wave of IPOs, with companies like Zhiyu and MiniMax preparing to list, indicating a critical juncture for capitalizing on AI technologies [3] - The AI industry is projected to exceed 1.2 trillion yuan in scale by 2025, with a growth rate of 24%, although challenges remain regarding high costs and low returns [3] - China's largest offshore oil field, Bohai Oilfield, has achieved a record production of over 40 million tons of oil equivalent in 2025, contributing significantly to national energy security [4] Group 4 - Zhiyu has released its new flagship model GLM-4.7, achieving top performance in various benchmarks, indicating advancements in AI capabilities [4] - Geely Automobile has completed the privatization of its subsidiary, Zeekr, which will now be fully integrated into the group's financial statements [4] - Blue Arrow Aerospace has completed its IPO counseling for the Sci-Tech Innovation Board, indicating readiness for public listing [5] Group 5 - Four companies, including HeRun Electronics, have initiated IPO counseling, signaling ongoing interest in capital market participation [6] - Trina Solar has won a bid for a 240MW distributed photovoltaic project, showcasing its competitive position in the renewable energy sector [7] - JunDa Co. has signed a strategic cooperation agreement with Shangyi Optoelectronics to explore applications of perovskite battery technology in space energy [7] Group 6 - ST Dongtong has received a decision for stock delisting, with its shares entering a delisting transition period, reflecting ongoing challenges in the A-share market [8][9] - Tianpu Co. has completed a tender offer, resulting in a significant increase in share control, indicating strategic consolidation efforts [10] Group 7 - Traders are heavily betting on U.S. Treasury options, anticipating a drop in the 10-year yield to 4%, reflecting market sentiment regarding future interest rates [11] - U.S. stock indices have collectively risen, driven by technology stocks, with significant gains in companies like Tesla and Nvidia, indicating a strong market performance [11] - Demand for U.S. Treasury auctions has been weak, leading to increased yields, while commodities like gold and silver have reached historical highs [12]

Core Insights - The article highlights significant technological advancements expected in 2026, including AI, gene editing, space exploration, and green energy, which are set to transform various industries and human life [1] AI and Research - AI-driven scientific research is becoming mainstream, with "AI agents" expected to perform complex tasks with minimal human intervention by 2026 [2] - The first major scientific results from AI-led research are anticipated to be published in 2026, although issues such as data deletion errors have been reported [2] - Future developments may focus on smaller AI models that learn from limited data to solve specific problems, outperforming larger models in logical tests [2] Medical Innovations - Two personalized gene therapy clinical trials for rare genetic diseases are expected to start in 2026, following successful CRISPR treatments for infants [3] - A large-scale clinical trial in the UK involving over 140,000 participants is set to report on a blood test that detects cancer by analyzing DNA fragments [3] - Regulatory updates in the UK and potential reforms in the US FDA regarding drug approvals are expected to take effect in 2026 [3] Space Exploration - 2026 will see a surge in lunar exploration, including NASA's "Artemis II" mission, marking the first crewed lunar flight since the 1970s [4] - China's "Chang'e 7" mission aims to explore the Moon's south pole, while Japan plans to send a probe to Mars' moons [4] - The European Space Agency's "PLATO" mission will launch at the end of 2026 to observe exoplanets around bright stars [4] Oceanic Research - China's "Dream" deep-sea research vessel is expected to begin its first scientific mission in 2026, capable of drilling up to 11 kilometers deep [5] Physics Research - The Large Hadron Collider (LHC) in Switzerland will undergo significant upgrades starting in 2026, aiming to increase collision frequency by five times by 2030 [6] - The Mu2e experiment at Fermilab is set to be completed in April 2026, focusing on the conversion of muons to electrons without producing other particles [6]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 当地时间12月22日（周一），美股三大指数集体收涨，为美股市场"圣诞老人行情"拉开序幕。截至当日 收盘，道指涨0.47%，纳指涨0.52%，标普500指数涨0.64%。特斯拉股价盘中再创新高，一度涨3.66%至 每股498.82美元，接近每股500美元。美股商业航天概念股再度暴涨，Rocket Lab Corp涨近10%，AST SpaceMobile涨14.03%，维珍银河涨5.71%。 黄金和白银双双创下历史新高。12月22日，伦敦现货黄金历史首次站上4400美元/盎司，年内累计涨近 68%；伦敦现货白银同样刷新历史新高，盘中首次站上69美元/盎司，年内累涨近139%。投资者关注美 联储下一任主席的提名之争。据CNBC报道，美国总统特朗普可能在明年1月第一周任命新的美联储主 席。 围绕华纳的收购战再度升级。当地时间周一，派拉蒙天空之舞宣布，修改其对华纳兄弟探索的每股30美 元全现金收购要约，以解决后者对该要约提出的担忧。甲骨文公司创始人拉里·埃里森已同意为收购要 约的404亿美元股权融资，以及针对派拉蒙的任何损害赔偿索赔提供不可撤销 ...

美股正式开启"圣诞老人行情"。 其中，与AI相关的股票全线大涨，进一步提振了市场做多情绪。截至收盘，英伟达、特斯拉、台积电 ADR涨超1%，甲骨文大涨逾3%，美光科技大涨超4%，投资者正密切关注这些科技股在估值过高的担 忧下能否在年底前保持领先地位。 其他大型科技股涨跌不一，苹果跌0.99%，谷歌C涨0.88%，微软跌0.21%，亚马逊涨0.48%，Meta涨 0.41%，博通涨0.51%。 美股太阳能板块涨势居前，Turbo Energy大涨10.99%，Sunrun大涨10.84%，阿特斯太阳能大涨10.78%， 第一太阳能涨6.6%，创2024年6月份以来收盘新高。 美国民营火箭公司Rocket Lab大涨9.97%，股价连续三日上涨，累计涨幅达44%，创2021年以来最佳表 现。消息面上，公司前一日成功发射了今年第21枚Electron运载火箭。不仅刷新了单年21次的发射纪 录，且保持100%的成功率。 在地缘政治风险急剧升温、美联储降息预期重新定价的背景下，贵金属成为资金最集中的去向之一。 周一，美股交易时段，国际黄金、白银价格加速上涨，COMEX黄金期货大涨2.13%，报4480.6美元/盎 司； ...

Group 1: Space Industry - The core viewpoint is that the comprehensive recovery technology for rockets is expected to reduce launch costs to between $2 million and $5 million, driven by the increasing demand for satellite deployment in the Starlink project [1] - SpaceX is shifting from partial recovery to comprehensive recovery of rockets, while traditional rocket manufacturers like Arianespace, Mitsubishi Heavy Industries, and China Aerospace Science and Technology Corporation (CASC) are significantly increasing their willingness to invest in first-stage rocket recovery technology [1] - Currently, the average launch cost for expendable rockets ranges from $110 million to $180 million, while partial recovery costs around $67 million [1] Group 2: Robotics Industry - The first open robot rental platform, "Qingtian Rental," has been launched in Shanghai, covering over 50 core cities and more than 600 service providers, with rental prices ranging from 200 yuan to over 10,000 yuan [2] - By 2026, the platform is expected to expand its rental services to over 200 cities, allowing users to place orders through mini-programs and online stores [2] - The emergence of "Qingtian Rental" signifies a shift in China's robot services from traditional product purchasing to a shared ecosystem model, enabling low-cost automation for small and medium-sized enterprises [2] Group 3: Data Industry - The National Data Bureau is promoting the open and authorized operation of public data, having released 70 demonstration scenarios in three batches and 30 additional scenarios in the fourth batch [3] - The supply method for data is transitioning from "mainly sharing" to a collaborative approach of "sharing, opening, and authorized operation," with authorized operation becoming an important data supply method in the fourth batch [3] - The success of authorized operation relies on the establishment of clear responsibilities, revenue distribution, and safety supervision mechanisms, which could transform public data from a "resource" into a continuously valuable "asset" for the digital economy [3]

每经AI快讯，12月22日，民营火箭公司Rocket Lab开盘延续涨势，现涨超7%。 ...

1. 12月22日(周一)美股盘前，美股三大股指期货齐涨。截至发稿，道指期货涨0.01%，标普500指数期货 涨0.34%，纳指期货涨0.53%。 2. 截至发稿，德国DAX指数跌0.01%，英国富时100指数跌0.42%，法国CAC40指数跌0.33%，欧洲斯托 克50指数跌0.11%。 3. 截至发稿，WTI原油涨2.12%，报57.72美元/桶。布伦特原油涨2.10%，报61.74美元/桶。 市场消息 多利好因素蓄势，美股本周能否开启"圣诞老人行情"?为主要股指涨跌互现的一周画上句号，而这一周 也是2025年的最后一个完整交易周。在2025年最后七个交易日之前，三大股指均将接近历史最高点，差 距不超过 3%。本周，美股市场将迎来相对清淡一周。美股周三只开盘半天，周四圣诞节当天休市。许 多国际市场周五也将继续休市。在接下来的一周里，那些在假期期间仍然活跃的投资者将把注意力转 向"圣诞老人行情"的前景，而周二将公布因美国政府停摆而延迟的一些滞后数据。周二上午，世界大型 企业联合会发布的消费者信心指数应该成为关注的焦点，因为2025年的一个主要趋势是美国消费者中出 现的K型经济。 美联储内部分歧加剧：哈马克称 ...

来源 |华尔街见闻 马斯克的个人净资产飙升至7490亿美元，成为 人类历史上首位净资产突破7000亿美元的个人。 这一里程碑式的财富增长源于特拉华州最高法院的一纸判决， 恢复了此前被撤销的价值1390亿美元的特斯拉股票期权。 据报道，特拉华州最高法院周五裁定恢复马斯克在2018年获得的薪酬方案。该薪酬方案最初价值560亿美元，两年前曾被下级法院以"不可理 喻"为由驳回。 随着特斯拉股价上涨，该薪酬方案目前的价值已从最初的560亿美元增长至1390亿美元。 "首富"财富快速积累 本周早些时候 ， 马斯克刚刚成为历史上首位净资产突破6000亿美元的个人。 最高法院在判决中表示，2024年撤销该薪酬方案的裁决对马斯克而言是不当且不公平的。这一判决使马斯克的净资产 单日暴增1390亿美元。 根据福布斯亿万富豪榜，马斯克的财富规模现已超过全球第二富豪、谷歌联合创始人Larry Page近5000亿美元，进一步巩固了其世界首富地 位。 薪酬方案历经波折 马斯克的2018年薪酬方案自设立以来经历了曲折的司法审查过程。 该方案在两年前被特拉华州下级法院裁定无效，法院当时认为这一薪酬安排规模过大且程序存在问题。 特拉华州最高法 ...