将投中网设为"星标⭐"，第一时间收获最新推送 速览投资风口，掌握资本律动。 作者丨 长风 来源丨东四十条资本 大家好，我是长风。今天给大家带来上周资本市场的专业投研信息。 上周焦点回顾： 硬科技赛道，汽车智能化部件受追捧。 上周，国内 EMB 企业华申瑞利宣布于2025年初完成近亿元 人民币A轮融资。本轮融资由合创资本、君科丹木以及老股东顺为资本联合领投，老股东小米战投、 蓝湖资本和辰韬资本跟投。此外，国内车载SerDes芯片企业仁芯科技成功斩获A轮融资，此次融资 吸引陕汽集团、长江汽车电子、移为通信、杭州临空产业基金、杭金投基金、浙江大华投资等产业资 本积极入局。 大健康赛道，心脏医疗成热门。 上周，上海合源医疗®完成超亿元的新一轮融资。本轮融资由龙磐 投资和道彤投资联合领投，楹联健康基金和天瑞丰年跟投，现有股东礼来亚洲基金持续加持。人工心 脏领域企业核心医疗已完成超1亿美元D轮融资。本轮融资由正心谷资本、社保基金中关村自主创新 专项基金（君联资本担任管理人）、阿美风险投资旗下Prosperity7 Ventures(P7)、基石资本及知 名产业投资方联合领投，德联资本及联新资本跟投。 硬科技 华申瑞利完成 ...

Core Insights - The "Heart Ladder Lecture" series focuses on youth mental health and growth dynamics, addressing global challenges such as academic pressure, family communication breakdown, and internet dependency among adolescents [2][22] - The initiative aims to create a comprehensive service system that integrates family, school, and social resources to support youth development through prevention, intervention, and empowerment [2][22] Group 1: Event Overview - The first session of the "Heart Ladder Lecture" was held in Beijing, themed "The Power of Ascending," emphasizing cross-disciplinary dialogue on cultural inheritance, technological empowerment, mental health, and international education [2][22] - The event coincided with the 24th anniversary of Jingguan's establishment, marking a significant milestone and the beginning of a new developmental chapter [4] Group 2: Key Themes and Discussions - Discussions highlighted the need for collaboration among families, schools, and communities to address youth psychological issues, emphasizing the importance of cultural and technological integration [8][11] - The concept of "situational unity" was reiterated as crucial for addressing contemporary challenges in family and youth development, advocating for a holistic approach to education and mental health [15][18] Group 3: Expert Contributions - Experts shared insights on the importance of family dynamics in fostering youth resilience, emphasizing the roles of belonging, competence, and autonomy in child development [11][20] - The integration of traditional culture with modern technology was proposed as a means to enhance educational practices and address psychological challenges faced by youth [8][14] Group 4: Future Directions - The "Heart Ladder Lecture" aims to continue exploring various psychological themes, including youth mental health, women's psychology, and family relationships, to foster personal and organizational growth [20][22] - The initiative seeks to establish itself as a vital platform for disseminating positive influences and supporting the mental well-being of adolescents [20][22]

项目组在此特别感谢公司及总部领导的大力支持，感谢资本市场部、承销支持部、 质控合规部、后续管理部、运营管理部和销售交易总部等各位领导同事的支持和帮助！ 免责 声 明 本内容最终解释权归申万宏源证券有限公司所有。 2025年3月6日，由我司担任联席主承销商的重庆市国有文化资产经营管理有限责 任公司2025年度第一期中期票据成功簿记！本期债券品种一发行规模4亿元，债券期限 3年，票面利率2.50%，本期债券品种二发行规模6亿元，债券期限5年，票面利率 2.60%。 发行人主体评级AA+，是长江上游地区规模最大的综合性文化传媒企业、西部地区 文化传媒行业龙头企业以及重庆市国有文化资产和重大文化产业项目市场化、集团化经 营运作的主体之一，形成了以报刊经营、广播电视、出版物出版、图书音像与电教文化 产品发行四大文化传媒板块为核心，以网络经营业务、纸业贸易、印刷、新兴文化传媒 等为重要补充的产业布局。发行人是重庆市委、重庆市政府积极探索建立新型国有文化 资产经营管理模式、努力探索以出资人地位加强国有文化资产经营管理新途径的重要成 果，已拥有"报（报刊）-广（广播）-电（电视）-网（网络传输）-编（出版）-印 （印刷）-发 ...

Core Insights - Wuhan registered a total of 81,417 new enterprises from January to March 2025, representing an 83% year-on-year growth, ranking second among major cities in China [2] - The top five industries for new registrations in Wuhan are trade and retail, information technology, business services, cultural media, and construction, with trade and retail leading in both quantity and growth rate [2] - The city has implemented significant cost-reduction policies for businesses, lowering various costs by 43.5 billion yuan in 2024, which has created a favorable environment for new enterprise registrations [3] Economic Performance - Wuhan's GDP reached 21,106.23 billion yuan in 2024, growing by 5.2%, with fixed asset investment increasing by 3.1% and retail sales of consumer goods rising by 5.3% [5] - The rapid growth in economic indicators indicates a positive development trend, providing more market opportunities and boosting investor confidence in Wuhan [5] - The high-tech industry in Wuhan has also seen substantial growth, with over 16,000 high-tech enterprises and significant revenue increases in key sectors such as optoelectronic information and life health [5] Infrastructure and Transportation - Wuhan is a major transportation hub, being one of the four key railway hubs in China, with the highest passenger transfer volume and extensive railway connections [6] - The city has developed a dual-hub airport system with Tianhe International Airport and Ezhou Huahu International Airport, enhancing its logistics and transportation capabilities [6][9] - Recent infrastructure improvements, including the expansion of Tianhe Airport and the opening of new high-speed rail lines, have facilitated easier logistics and transportation for businesses [9] Government Support - The national government has provided various policy supports for Wuhan's development, positioning it as a central economic, technological innovation, and logistics hub in central China [8] - The government's focus on transportation infrastructure, including the development of a logistics circle with a 1,000-kilometer radius, aims to improve both passenger and freight efficiency [8] - Comprehensive support across economic, transportation, technology, and industry sectors has been crucial in driving the surge in new enterprise registrations in Wuhan [9]

技术派的多元实践：综艺音乐影视全面进阶 综艺板块哇唧制作副总经理彭聆分享，综艺制作的关键词——"陪伴"。围绕这一核心理念，构建了两条清晰的产品线。 第一条是以人为IP的陪伴型产品。其中，"年番综艺"《毛雪汪》已经进入第五个年头，《燃少训练营》则以短视频、团综加团播的形式，打造强互动的养成 体验。而即将推出的《荒野训练营 ACTION》，将讲述一群热爱表演的新生少年如何在荒野中成长为真正男子汉的热血故事。 第二条产品线是多维度线上线下音乐嘉年华。毛不易生日演唱会"只在今夜"正被打造为可持续的演出IP；与腾讯合作的音乐嘉年华项目《JUMP PARK》和 《2025哔哩哔哩毕业歌会》也在进程之中，致力于成为能与年轻人产生深度共鸣的青春盛典。"陪伴的价值需要漫长岁月来验证，彭聆也表达了决心："我们 要坚定地做种树的人，而不只是摘果子。" 音乐在2024年迎来了全面开花的丰收年。哇唧音乐中心总经理胡楠在现场分享了令人振奋的成绩单。 4月2日，哇唧唧哇8周年内容创享会在北京举办。机械星球的宇树G1、宇树Go2 pro 带来了科技感满满的开场，暗合哇唧唧哇创始人龙丹妮上午发布的公司 内部信核心精神："技术派"。 近些年，龙 ...

水皮杂谈 一家之言 兼听则明 偏听则暗 缩量震荡 每日看盘 昨晚社融数据揭晓，部分数据超预期，但从结构上来说依然存在一些问题。简单说就是M1超 预期，M2符合预期，社融相对超预期，但社融的增幅是政府债，居民中长期贷款依然不给 力，实体企业信贷需求还在往下走。 关于汇率，央行也会继续采取综合措施，增强外汇市场韧性，稳定市场预期，坚决对市场顺周 期行为进行纠偏，坚决对扰乱市场秩序行为进行处置，坚决防范汇率超调风险，保证汇率稳 定。美元离岸人民币目前回到7 . 3 4多一点，还算比较稳定也有所回落。其实主要的原因还是美 元指数过于强硬，人民币兑美元是被动贬值的，单看人民币兑一篮子货币相对可能还是升值 的。 而国债方面，3 0债的主力合约今天再次跳空高开，最终收涨0 . 6 1%，盘中离前高也不过只差 0 . 2%的距离。 后面还是得关注量能的情况，虽然今天的十字星出现在昨天放量大涨后是可以接受的良性调 整，但量能稍微少了一点，你不能排除昨天是一种情绪式宣泄的反弹而非反转的可能。那么后 面无非就是技术上还需要一次回踩确认，最后一跌或者最后一波下跌，然后叠加政策面的利好 和不确定事件的落地再确定筑底的逐渐完成？ (本文 ...

水皮杂谈 一家之言 兼听则明 偏听则暗 趋势的力量 每日看盘 今日A股三大指数向下调整，两市共成交11 4 8 3亿，较前个交易日放量3 6 3亿。其中沪指下跌 1 . 3 3%，收报3 1 6 8 . 5 2点；深成指下跌1 . 8 0%，收报9 7 9 5 . 9 4点；创业板指下跌1 . 7 6%，收报 1 9 7 5 . 3 0点。 昨天最后讲大概率再盘一下向下结果盘一下都没有，直接就选择了方向，虽然我们一直讲休 息、轻仓、观望，但当市场真的走出了很差的走势的时候，并没有因为预测对而有一点点开 心，基本只有浓浓的失望，以及对市场越来越多的怀疑。 盘面上，全天两市5 2 8家上涨，4 6 2 1家下跌，仅仅比1月3日好那么一点点，上海2 6 0家上涨， 深圳2 6 8家上涨，又是一个泥沙俱下的走势。中位数跌幅又2 . 8 0%，微盘股下跌3 . 1 8%，中证 2 0 0 0下跌3 . 0 5%，不得不承认的是，或许你还没感受到反弹，反弹就已经结束了。 板块上，全军覆没，东财的行业板块分类8 6个板块全部下跌，商业百货、文化传媒、通信服 务、光伏设备、家电行业、互联网、计算机等跌幅居前。题材热点上，也只 ...