Core Insights - The successful completion of the foundation piling for the Qizhou Seven offshore wind farm project marks a significant breakthrough in deep-sea wind power development in Guangdong Province [1][5] - The project, located approximately 70 kilometers from the coast with a total installed capacity of 1 GW, is expected to generate enough electricity to power over one million households and reduce carbon dioxide emissions by about 2 million tons annually [1][5] Group 1: Project Overview - The Qizhou Seven offshore wind farm project is situated in the waters near Yanshi County, with a water depth ranging from 46 to 53 meters [1] - The project has a total installed capacity of 1 GW, which will significantly contribute to the green transformation of Guangdong's energy structure [1] Group 2: Construction Challenges and Solutions - The project faced challenges due to complex natural conditions such as deep water and offshore environments, with individual steel pipe piles weighing up to 337 tons and measuring 93 meters in length [2] - To ensure construction efficiency and precision, the project team utilized experienced construction vessels and implemented strict control over the execution of construction plans [2][4] Group 3: Management and Efficiency - The project adopted refined management practices to optimize construction efficiency, including tailored construction plans for each machine and continuous process optimization [3] - The construction cycle for a single steel pipe pile was successfully controlled to within 32 hours, significantly enhancing construction efficiency [3] Group 4: Collaboration and Safety - The successful progress of the project was attributed to the effective collaboration among various parties, including construction, supervision, and contracting units [4] - The project leadership maintained close oversight to ensure safety and efficiency throughout the construction process [4] Group 5: Strategic Implications - The successful implementation of the Qizhou Seven offshore wind project provides valuable engineering and management experience for deep-sea offshore wind power development in China [5] - This project supports Guangdong's offshore wind power development strategy and contributes to the high-quality development of the offshore wind equipment and innovation chain, aiding in the achievement of national "dual carbon" goals [5]

证 券 研 究 报 告 反内卷的预期与现实 ——701财经委会议点评 2025年7月3日 证券分析师：姚 佩 执业编号：S0360522120004 邮箱：yaopei@hcyjs.com 证券分析师：丁炎晨 执业编号：S0360523070005 邮箱：dingyanchen@hcyjs.com 本报告由华创证券有限责任公司编制 卖的出价或询价。本报告所载信息均为个人观点，并不构成对所涉及证券的个人投资建议。 请仔细阅读PPT后部分的分析师声明及免责声明。 证 券 研 究 报 告 ┃ 摘要 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 2 • 7月1日，习近平总书记主持召开二十届中央财经委员会第六次会议。 • 中央财经委会议：召开频率降低。25/6/30政治局会议审议《党中央决策议事协调机构工作条例》，党中央决策议事协调机构职能划分 的进一步明确，政策制定与执行有望更加顺畅。中央财经委是在2018年由原中央财经领导小组改成的中共中央直属决策议事协调机构， 聚焦经济领域细分重点，2024年之前通常每年召开2-3次会议，过去两年会议频率降低，本次会议距离上一次公开披露的24/2第四 ...

报告题目和顺序可能微调，以现场为准。 $\mathbf{M}$ 由 长三角船舶与海工装备技术创新中心、长三角海上风电智能运维创新联盟、江苏科技大学海洋资源 开发技术创新研究院联合 主办的 2025（第五届）海洋清洁能源技术与装备高峰论坛 （简称： MCES2025）将于 7月23-25日在南通召开 ， 论坛同期举办 青年科学家10²论坛、产业发展与创新技术全 体大会、四大专题论坛，以及产业需求对接、创新产品与技术展览、项目地图发布、参观交流 等特色 活动。 报告议程 院士报告 09:10 ( H ) 自助午餐 海洋清洁能源开发必将走向深远海,如何平 7.24→PM 衡开发难度提升与降本之间的矛盾?施工装 创新技术 备、发电设备、支撑结构、系泊、输变电和 消纳等领域的技术创新,如何支撑海洋清洁 大会 能源开发走向更深更远? 09:35 中国科学院/工程院 院士报告 09:35 10:00 中国科学院/工程院 (D) 茶歇/展区参观 "十五五"海洋经济前瞻 10:30 10:55 李双建,自然资源部国家海洋信息中心副主任 海洋新质生产力 10:55 11:20 中国宏观经济研究院 全过程、全链条的创新驱动模式与发 ...

今天的体感普遍不太好，两市超3200家个股下跌，成交额缩到了1.37万亿，比昨天少了快近千亿。资金 方面机构继续扫货，净流入200亿，但主力加散户跑了500亿左右，说明很多人看到反弹就想着落袋为安 了，那情绪还是偏谨慎的。和讯投顾吴嘉仪分析，大盘这一块看似踩着5日线准备去冲关，但就是没有 冲上去，反而停在了关键的位置。那接下来这一两天大概率是要选择方向的，到底是直接挑战3500点， 还是说回踩20日线再蓄势上攻，呢别急，我们等信号明确再说。那板块方面今天涨的好的是深海经济、 钢铁、水泥、光伏和部分合成生物方向，我们一个一个来讲清楚。 （原标题：和讯投顾吴嘉仪：大盘缩量机构继续扫货，明天是去是留？） 来首先是我们的深海经济，其实之前就已经炒过了，现在高层再度强调可见重视的一个程度，啊那这其 实也是军工的一个延伸逻辑。我之前在视频里也跟大家去说过，军工的细分啊特别的多，海陆空都有机 会，那今年大涨的基本是海洋的装备类，比如船舶制造、海上风电捕捞设备这一些方向，而光伏加水泥 加钢铁这三块大涨的背后有一个共同的逻辑，就是控产能稳增长，反内卷那6月底人民日报发文是破除 内卷式的一个竞争，重点点名了光伏还有新能源汽车。7 ...

今天A股震荡走低，指数集体回调， 创业板指 跌逾1%。A股成交1.41万亿元，上日为1.5万亿元。 午后，钢铁股爆量拉升！ A股市场和商品市场紧密联动，成为今天盘面一大特点。 商品市场上， 多晶硅、玻璃期货领涨， 多晶硅涨停，玻璃涨超6%， 工业硅、硅铁等品种跟 涨。A股市场上，光伏、玻璃、钢铁等板块大涨。 | < 日 | | 钢铁指数(886012) | | | --- | --- | --- | --- | | | | 2231.23 80.38 +3.74% | | | 招标 | 成分 | 资讯 | 相关基金 | | 盛德鑫泰 | 35.85 | 17.00% | 5.21 | | 300881.SZ | | | | | 重庆钢铁 | 1.41 | 10.16% | 0.13 | | 601005.SH | | | | | 柳钢股份 | 4.26 | 10.08% | 0.39 | | 601003.SH | | | | | 直钢股份 | 3.86 | 9.97% | 0.35 | | 000959.SZ | | | | | 三钢闽光 | 3.86 | 8.12% | 0.29 | | 002110.S ...

Group 1: National Unified Market Construction - The Central Economic Committee emphasizes the importance of establishing a national unified market to eliminate "involution" competition and promote the integration of domestic and foreign trade [1][3] - Key requirements include unified market infrastructure, government behavior standards, and regulatory enforcement, along with continuous expansion of internal and external openness [3][4] - Six major work guidelines focus on addressing low-price disorderly competition, enhancing product quality, and facilitating the orderly exit of backward production capacity [3][4][5] Group 2: Industry Capacity Adjustment - The push for the exit of backward and inefficient production capacity will encompass a broader range of industries, including both traditional and emerging sectors such as lithium batteries, photovoltaics, and new energy vehicles [1][5] - The strategy for capacity reduction will involve optimizing industrial layout, strengthening standard guidance, and promoting restructuring [5][6] - Historical data shows that after the supply-side structural reform initiated in 2015, profit margins in the steel and coal industries significantly improved, indicating potential benefits from similar future reforms [5] Group 3: Integration of Domestic and Foreign Trade - The meeting highlights the importance of integrating domestic and foreign trade, viewing it as a key opportunity for foreign trade enterprises to establish a presence in the domestic market and cultivate independent brands [6][7] - The establishment of a unified market system will provide institutional support for this integration, enhancing competitiveness and aligning domestic rules with international standards [6] Group 4: Marine Economy Development - The meeting outlines a focus on high-quality development of the marine economy, emphasizing innovation, efficient collaboration, and industry updates [8][9] - Key industries identified for growth include offshore wind power, modern deep-sea fishing, marine biomedicine, and marine tourism [9] - The marine economy is projected to exceed 10 trillion yuan in total output by 2024, reflecting a 5.9% year-on-year growth, presenting significant market opportunities [9]

周二（7 月 1 日）大盘 V 型反转，小幅上涨。截至收 盘，上证综指收于 3457.75 点，上涨 0.39%；深成指 收于 10476.29 点，上涨 0.11%；科创 50 下跌 0.86%； 创业板指下跌 0.24%，万得全 A 成交额共 14965 亿元， 较前一日略有下降。 行业方面，30 个中信一级行业有 18 个行业上涨，其 中医药、有色金属及银行涨幅居前，而综合金融、计 算机及商贸零售则跌幅较大。概念方面，中船系、创 新药及抗生素等指数表现活跃。 海外市场综述 美股全线收涨 国内市场综述 V 型反转 小幅上涨 周二（7月1日），道指涨 0.91%，标普500指数跌0.11%， 纳指跌 0.82%。万得美国科技七巨头指数跌 1.18%。中 概股涨跌不一，纳斯达克中国金龙指数涨 0.2%，万得 中概科技龙头指数涨 0.27%。 新闻精要 1. 习近平主持召开中央财经委员会第六次会议 2. 两部门印发《支持创新药高质量发展的若干措施》 3. 7 月 1 日起将实施一批国家标准 4. SEMI 预计 2030 年全球半导体产业面临百万人才缺 口 5. 美国参议院通过"大而美"税收与支出法案 6. 全 ...

6月26日，广东聚焦"海洋经济"主题召开高规格全省会议，强调要加快建设现代化海洋牧场，做强石化、船舶等优势临港产业， 积极培育壮大海洋新能源、海工装备、海洋生物医药等海洋新兴和未来产业，以及融合升级海洋服务等，释放出以更大力度、 更快行动发展海洋经济，以新的更大成效助力全面建设海洋强省、加快打造海上新广东的明确信号。 会议同时提到，要加强海湾经济发展规划研究，有序推进沿海港口群优化整合。要加强海洋生态环境保护，接续实施重点海域 综合治理，积极推进海域分层立体利用，探索开展海洋碳汇核算。 解读：21世纪是海洋开发与利用的世纪。我国是陆地大国，也是海洋大国，海洋经济发展前景广阔。数据显示，2024年我国海 洋经济总量首次突破10万亿元，占GDP比重达到7.8%。 近年来，高层多次对发展海洋经济作出重要部署。党的二十届三中全会提出，"完善促进海洋经济发展体制机制"。2024年12月 中央经济工作会议强调，"大力发展海洋经济和湾区经济"。2025年政府工作报告也提出，"大力发展海洋经济，建设全国海洋经 济发展示范区"。 一个普遍观点是，我国海洋经济正进入新一轮爆发期。近段时间以来，多个省市围绕发展海洋经济出台一系列政 ...

Core Viewpoint - Liaoning Province is advancing its offshore wind power projects, with a total capacity of 13.1 million kilowatts, which is expected to drive the transformation of traditional industries and stimulate regional economic growth [1][3][12]. Group 1: Offshore Wind Power Development - The 13.1 million kilowatt offshore wind power project is progressing steadily, aiming to enhance the energy structure towards greener and newer sources [3][4]. - By 2024, clean energy generation capacity and output in Liaoning are projected to exceed 50%, achieving the goals set in the 14th Five-Year Plan ahead of schedule [3][4]. - Liaoning's offshore wind power capacity has reached 1.25 million kilowatts, with plans to develop two large-scale offshore wind power bases exceeding 5 million kilowatts each [4][7]. Group 2: Economic Impact - The construction of the 13.1 million kilowatt offshore wind power project is estimated to attract investments of approximately 300 billion yuan, generate annual output exceeding 100 billion yuan, and create over 100,000 jobs [4][12]. - Liaoning ranks second in the country for green electricity trading, with a trading volume of 12.783 billion kilowatt-hours, highlighting its significant role in the national green energy market [4][8]. Group 3: Industrial Integration and Innovation - The offshore wind power industry in Liaoning is expected to integrate with traditional industries such as steel, metallurgy, and shipbuilding, leveraging the region's strong industrial base [7][10]. - A collaborative initiative involving 35 leading companies from various sectors aims to establish a world-class offshore wind power industrial cluster in Liaoning [8][10]. - The Taiping Bay Innovation Cooperation Zone is being developed as a hub for offshore wind power, focusing on creating a complete industrial chain for green energy [10][11]. Group 4: Future Prospects - By 2025, Liaoning aims to achieve a clean energy generation capacity share of 55% and an output share of over 53%, marking significant progress in its energy transition [11][12]. - The development of offshore wind power is seen as a strategic pivot for Liaoning, potentially transforming its traditional manufacturing sector into a modern, intelligent, and green industry [13][14].

Summary of Key Points from Conference Call Industry Overview - The conference call discusses the marine economy investment opportunities, highlighting the positive impact of policy support and industry growth, similar to the Shanghai technology market but broader in scope [1][2] - The China Marine Economy Stock Price Index (932,056) has reached a new high since 2019, with a focus on small-cap stocks across various sectors including transportation, military, power equipment, machinery, agriculture, and oil & petrochemicals [1][4] Core Insights and Arguments - Deep-sea oil and gas development has become more economically viable, with cost lines dropping below $40 per barrel, leading to increased demand for marine engineering equipment such as semi-submersible drilling platforms and FPSOs, benefiting companies like CIMC, Bomei, and China Shipbuilding [1][5][6] - The exploration phase requires semi-submersible drilling platforms, while production technology varies based on offshore distance, with FPSOs being essential for deep-water operations [7][8] - The offshore wind power sector is shifting towards deep-sea development, with significant resource potential and a rebound in turbine bidding prices, expected to lead to above-expectation earnings growth by Q2 2025 for companies like Dajin Heavy Industry, New Strong Union, and Guoda Special Materials [1][10][11] Additional Important Insights - The marine economy's growth is supported by high-quality development initiatives, with key investment areas identified by President Xi Jinping including marine technology, offshore wind power modernization, deep-sea fishing, marine biomedicine, and marine tourism [2][3] - The marine economy stock price index includes over 200 components, weighted by a defined "marine attribute coefficient," indicating a bias towards small-cap stocks [4] - The deep-sea development sector is expected to significantly increase operational volumes across the marine engineering sector, benefiting companies involved in drilling platforms, FPSOs, and pipeline vessels [9] - The global submarine cable industry is undergoing a generational shift, with a projected investment growth rate of 116% by 2025, driven by the surge in AI computing demand [19] Challenges and Opportunities - The wind power industry faces challenges in 2023 and 2024, but significant improvements in component production and delivery are anticipated starting Q2 2025, with several companies already showing strong profitability [11][12] - The marine economy is expected to create opportunities in the petrochemical sector, particularly in equipment demand and the need for corrosion-resistant materials [16] - The deep-water technology industry is receiving policy support and is recognized as a strategic emerging industry, with a focus on energy security and national defense [17][18] Investment Recommendations - Investors are advised to focus on three main lines: core suppliers of national projects, high-tech barriers with urgent domestic replacement needs, and companies with proven commercial validation capabilities [23]