该局通过深化与地方政府职能部门合作、联合沪深北交易所来连走访培训 等形式，构建了更加透明高效的监管服务体系。支持科技型企业全面对接资本 市场，全覆盖走访各区市县政府、相关委办局及重点后备上市企业，提供个性 化、精准化指导；推动大连股权交易中心成功获批第三批专精特新专板备案。 支持行业机构提升服务能力，督导辖区机构充分发挥专业优势，牵头或参与 IPO、债券等融资项目；推动出台《大连市推动私募股权投资基金发展三年行 动方案》，支持私募股权投资基金加大对重点产业和新兴产业的投资力度。 去年以来，在各项增量政策的支持和各方的共同努力下，大连资本市场服 务科技创新取得了积极成效。一是引导上市公司加大创新力度。近年来，一批 科技型企业登陆资本市场，辖区上市公司科技创新能力不断提升。2025年上半 年辖区上市公司研发费用合计约22.17亿元，其中8家公司研发投入占营业收入 比例超过5%。科德数控通过定向增发募集资金6亿元，用于高端五轴机床及核 心功能部件扩产，进一步加速产能建设。二是积极推动科技创新债券发行。国 电电力成功发行大连首单交易所市场科创债，发行规模75亿元，募集资金主要 投入所属新能源单位项目，为辖区资本市场科 ...

丨证券研究报告丨 [Table_scodeMsg1] 联合研究丨公司点评丨应流股份（603308.SH） [Table_Title] 应流股份 25Q3 点评：业绩连续高增，持续看好 两机业务弹性 报告要点 [Table_Summary] 应流股份通过"产业链延伸、价值链延伸"，主营业务已涵盖高温合金产品及精密铸钢件、核电 及其他中大型铸钢件、新型材料与装备等，覆盖高端部件、航空科技和先进材料三大领域。两 机领域，公司在客户端不断拓展，订单和营收有望快速增长，盈利持续释放；核能核电、低空 经济等持续发力。持续看好公司平台化拓展。 分析师及联系人 [Table_Author] 赵智勇 王贺嘉 王鹤涛 屈奇 杨继虎 SAC：S0490517110001 SAC：S0490520110004 SAC：S0490512070002 SAC：S0490524070003 SAC：S0490525040001 SFC：BRP550 SFC：BUX462 SFC：BQT626 %% %% %% %% research.95579.com 1 [Table_scodeMsg2] 应流股份（603308.SH） cjzqdt1 ...

Core Insights - The event organized by Xiamen Listed Companies Association aimed to enhance industry communication and governance experience sharing among listed companies in the region [1][4] - The study tour included visits to four notable companies, focusing on their technological innovations, market strategies, and governance practices [4] Group 1: Company Visits - The delegation visited Medtronic Medical Technology Co., Ltd., where they learned about the company's DoCare series clinical information systems, which leverage advanced mobile internet, IoT technology, and big data models to enhance competitive advantages in the healthcare sector [1] - At Jiangsu Haobio Pharmaceutical Co., Ltd., the delegation explored the company's core technologies in allergy and autoimmune testing, gaining insights into its R&D capabilities and market strategies [2] - The visit to Suzhou Maiwei Technology Co., Ltd. highlighted the company's focus on independent innovation and its breakthroughs in high-precision screen printing equipment, emphasizing its unique position in the high-end equipment sector [2] - The delegation also visited King Long United Automotive Industry (Suzhou) Co., Ltd., which is recognized as the first listed company in China's bus industry, discussing its core business, product advantages, and future market strategies [3] Group 2: Training and Discussions - The training session at Suzhou Industrial Park included discussions on China's economic outlook for 2025 and the implications of the "14th Five-Year Plan" [3] - Experts provided insights into legal practices and challenges under the new "National Nine Articles" and "Merger Six Articles," focusing on compliance and practical logic in policy implementation [3] - A deep dive into the selection and composition of boards of directors was conducted, emphasizing the importance of a scientific selection mechanism for enhancing decision-making effectiveness and transparency [4]

Core Viewpoint - The conference highlighted Hangzhou Steam Turbine's advancements in heavy-duty gas turbine technology, strategic layout in smart energy, and the significant progress of the "B to A" transition, attracting attention from both industry professionals and capital market investors [1][4]. Group 1: Company Achievements - Hangzhou Steam Turbine has made significant technological breakthroughs, including the successful ignition of a domestically developed 50MW heavy-duty gas turbine, which fills a gap in the domestic market and enhances the high-end equipment manufacturing sector [2]. - The company has evolved from a single equipment manufacturer to a comprehensive service provider, integrating R&D, production, and service across various industries, including oil, chemicals, textiles, and papermaking [2]. Group 2: Strategic Transformation - The company is actively pursuing a strategic transformation by extending its focus from steam turbines to the entire turbine industry, with gas turbines identified as a new growth engine [3]. - It is also expanding into the new energy equipment sector to seize opportunities in green development and transitioning from a manufacturing company to a service-oriented enterprise [3]. Group 3: Capital Market Engagement - The "B to A" transition is a critical phase for the company, aimed at broadening financing channels to support technological R&D and industrial upgrades, ultimately providing advanced energy solutions to clients [4]. - The upcoming stock swap with Hangzhou Hailianxun marks a significant step in the "B to A" process, which is expected to complete by Q1 2026, allowing the company to leverage capital market resources for accelerated development [4]. Group 4: Industry Impact - The company's transition to A-share listing is anticipated to enhance the efficiency of the cogeneration industry, promoting new avenues such as waste heat power generation and distributed energy solutions [5]. - The "B to A" transition is expected to reshape the company's valuation and attract mainstream investment, injecting new momentum into the high-end equipment manufacturing sector [5].

Company Overview - Dagan Holdings (SZ 300103) announced that as of the date of the announcement, shareholder Yingqi Management has had approximately 7.38 million shares frozen, accounting for 46.02% of its holdings and 2.32% of the company's total share capital [1] Revenue Composition - For the first half of 2025, Dagan Holdings' revenue composition is as follows: high-end road equipment manufacturing accounts for 49.19%, new energy-related business accounts for 40.2%, and urban road smart operation and maintenance management accounts for 10.61% [1] Market Capitalization - As of the report, Dagan Holdings has a market capitalization of 2.4 billion yuan [1]

Group 1 - Multiple central enterprises achieved record high signing amounts during the 8th China International Import Expo, with over 20,000 participants and 58 specialized teams formed for procurement [1] - The current international industrial division of labor is undergoing profound adjustments, emphasizing the need for global supply chain cooperation [1] - Central enterprises have established over 8,000 institutions and projects in more than 180 countries, with overseas assets exceeding 9 trillion yuan, contributing positively to global technological progress and economic growth [1] Group 2 - China National Offshore Oil Corporation (CNOOC) signed contracts exceeding $13 billion, marking a historical high for a single expo, with a focus on oil, gas, and advanced technology services [2] - Sinopec signed agreements with 34 partners from 17 countries, with a total procurement amount exceeding $40.9 billion, and emphasized the increase in technology cooperation, particularly in AI and green development [2] - Sinopec's cumulative signing amount since the first expo in 2018 has surpassed $325 billion [2] Group 3 - China National Machinery Industry Corporation (Sinomach) signed 143 cooperation agreements totaling nearly $25.1 billion, focusing on high-end equipment and smart technology applications in domestic manufacturing [3] - China National Nuclear Corporation (CNNC) signed 8 procurement contracts with foreign enterprises, promoting global nuclear energy innovation and collaboration [3] - CNNC emphasized the importance of digitalization in enhancing global nuclear industry competitiveness and building resilient supply chains [3] Group 4 - The global industrial supply chain is a crucial platform for cooperation and development among countries, with a focus on deepening collaboration in traditional sectors like equipment manufacturing and energy [4] - There is a push for the integration of artificial intelligence with traditional industries and the development of strategic emerging industries such as new energy and materials [4] - The exploration of new industries and business models in fields like quantum technology and biomanufacturing is encouraged to stimulate cooperative momentum [4]

陕西作为我国科教高地与国防工业核心基地，在分析仪器及相关领域积淀了深厚的创新底蕴。其 中，依托中国西部科技创新港这一国家级创新平台，西安交通大学建成了总价值2.65亿元的大型仪器设 备共享实验中心，将101台（套）尖端设备向社会开放共享。1.2万平方米的"科研宝藏库"构建起"设备 共享+技术支撑+检测认证"三位一体服务体系，年均服务超2万人次、测样量突破10万个，既为中小企 业破解了"买不起、用不上"高端设备的困局，也支撑了陕西镁产业标准研制、环境新污染物检测等一批 关键技术突破。"西安交通大学将以本次大会为契机，与行业同仁共筑学科交叉创新生态、共建仪器共 享与转化平台、共育高水平创新人才，一同推动我国高端装备制造业高质量发展。"西安交通大学教授 单文华表示。 省科技厅相关负责人表示，当前，陕西正全力构建现代化产业体系，聚焦航空航天、电子信息、智 能装备、新材料等重点产业建设，对高端科学仪器的需求日益迫切。希望依托此次大会，与行业各方持 续深化合作，共建高端创新平台，推动先进分析仪器技术产业化落地。（记者：张梅） 11月7日，2025秦创原发展论坛、硬科技创新大会期间，第十届中国分析仪器学术大会在西安召 开。 ...

Core Insights - The China International Import Expo (CIIE) has entered its eighth year, showcasing its "window effect" and "platform value" as a significant event for global trade [1] - The event has seen a surge in signing agreements, with central and local enterprise delegations actively participating and increasing their procurement intentions [1] Group 1: Central Enterprises' Procurement - Central enterprises are the main force in procurement at the CIIE, demonstrating larger scale, better structure, and broader fields, reflecting China's commitment to high-end, intelligent, and green development [2] - China Weapon Industry Group signed contracts with companies from 16 countries, with an intention amount of 38.6 billion RMB, focusing on industrial raw materials and high-end equipment manufacturing [2] - China Machinery Industry Group has participated in all eight CIIEs, signing 143 cooperation agreements with a total amount of nearly 25.1 billion USD [2] Group 2: Local Enterprise Delegations - Local enterprise delegations have also been active, with Xinjiang signing 35 economic cooperation projects worth 17.8 billion RMB, and Zhejiang signing 24 import agreements totaling approximately 14.5 billion RMB [3] - Various local delegations, including those from Shanghai, Chongqing, Shandong, and Liaoning, have engaged in intensive signing activities, aligning with regional industrial characteristics [3] Group 3: Transformation of Exhibits into Products - The CIIE serves as a platform for long-term partnerships, enabling companies to transform exhibits into products and intentions into concrete agreements [4] - Nippon Paint expanded its exhibition area significantly, citing substantial benefits from the previous CIIE, and reported a 50% increase in signing volume compared to last year [5] Group 4: Innovation and Collaboration - The CIIE is not only a showcase for cutting-edge technologies but also a breeding ground for collaborative innovation, with companies like Honeywell launching new products and forming partnerships with over 20 enterprises [6] - The event has created an efficient ecosystem for global enterprises to exchange cooperation opportunities, extending beyond mere transactions to include technological exchanges and shared development opportunities [6]

随着去年9月"并购六条"的出台，以"支持新质生产力培育、简化审核流程、强化风险防控"为核心的政 策红利正在持续释放，为并购市场注入了增长动力。 从公告口径来看，今年前三季度A股上市公司新增披露重大资产重组交易134单，同比增长83.56%，交 易总价值5160.3亿元，同比大幅增长120%。 《每日经济新闻》记者注意到，相比10年前的那一轮并购热，彼时标的多集中在文化娱乐和互联网行 业，本轮则聚焦在先进制造领域，高度契合新质生产力转型方向。 从券商业务的角度来看，并购重组已经从以往的"选择题"变为当前的"必答题"。今年以来，券商投行来 自增发的收入同比增长19%。此外，随着并购重组趋向产业价值重构，也考验着券商"三投联动"的能 力。 重组案例数量大幅增加 近年来，当IPO（首次公开募股）市场较为景气时，IPO是国内创投市场实现退出的主导渠道，在IPO收 紧以后，回购和股权转让则成为创投退出的重要选项，真正通过并购退出的占比偏低。相比之下，并购 则是美国创投市场的主要退出途径。随着去年9月"并购六条"的出台，持续释放的政策红利为并购市场 注入了成长动力。 今年以来，A股市场IPO规模触底反弹，再融资规模大幅增长 ...

Core Viewpoint - The article highlights the transformation of Maoming, Guangdong, through the implementation of the "Hundred Counties, Thousand Towns, and Ten Thousand Villages" initiative, focusing on industrial upgrades and economic revitalization, particularly in the petrochemical sector and emerging industries like carbon fiber and titanium metal [1][2]. Industrial Transformation - Maoming is shifting its industrial focus towards carbon fiber, titanium metal, and automotive electronics, marking a significant rebranding of its industrial identity [2]. - The city is experiencing a surge in industrial investment, with a notable project being the 34.65 billion yuan carbon fiber project, expected to produce 4,800 tons of high-performance carbon fiber by next year [4]. Economic Growth - Maoming's GDP is projected to exceed 400 billion yuan in 2024, making it the first city in the eastern and western Guangdong region to reach this milestone, reflecting the city's industrial dynamism [7][12]. - The industrial investment in Maoming has seen a remarkable growth of 34.5% in the first half of the year, with advanced manufacturing investments soaring by 90.2% [11]. Investment and Infrastructure - The establishment of the Foshang (Maoming) Industrial Transfer Cooperation Park has become a key platform for attracting high-end equipment and electronic information enterprises, with a rapid project signing and implementation pace [9][12]. - Maoming's transportation infrastructure is being enhanced, with the opening of the new port and the upcoming Guangzhan high-speed railway, which will significantly improve connectivity to the Greater Bay Area [15][16]. Strategic Development - The city is focusing on building a new industrial ecosystem that integrates traditional petrochemical industries with emerging sectors, aiming for a comprehensive upgrade of its industrial chain [4][5]. - The collaboration between local government and enterprises is fostering a conducive environment for investment, with innovative approaches to attract new businesses and enhance existing ones [11][12].