海南板块，再度走强！ 12月10日，《中共海南省委关于制定国民经济和社会发展第十五个五年规划的建议》(以下简称《建议》)发 布。《建议》提出，加快完善自由贸易港政策制度体系。提升优化以"零关税、低税率、简税制""五自由便利 一安全有序流动"为主要特征的政策制度体系。大幅提高贸易自由化便利化水平，动态调整实施禁止、限制进 出口货物、物品清单，推动优化调整进口征税商品目录，深化非关税措施管理改革，完善跨境服务贸易负面清 单。 今日午后，海南板块大幅拉升，神农种业实现20%涨停，欣龙控股、海德股份、京粮控股等多只个股也被拉升 至涨停板。截至下午收盘，海南板块整体涨幅超过5%，Wind海南自贸港指数涨幅更是大涨6.6%。 当天，海南"十五五"规划建议发布。其中提出，加快完善自由贸易港政策制度体系，大幅提高贸易自由化便利 化水平；加快种源关键核心技术攻关，打造高能级种业科技创新平台，做大做强"种源+种业+种市"南繁产 业；"以场带产"壮大火箭链、卫星链、数据链和"航天+"产业，有序发展低空经济；适度超前建设交通、电 力、天然气管网等基础设施。 有券商指出，海南自贸港封关政策为企业提供了前所未有的发展机遇。该政策的实施， ...

格隆汇12月10日丨航天智造(300446.SZ)在互动平台表示，公司业务暂不涉及商业航天领域。 ...

天风证券：展望2026年，国内原煤产量大概率呈现负增长。在环保督察整改、查超产时间未结束之前， 全国产量有可能维持相对低位，环比2025年下半年大概率持平，但鉴于2025年Q1原煤产量增速较高， 2026年一季度可能出现减量，全年原煤产量因此或出现小幅度负增长。另一方面，考虑到当前煤价反弹 后进口利润有所回升，国内产量收紧的大背景下，进口量大概率会有所提升，因此动力煤和焦煤进口量 均会有不同幅度的上涨。 消息面上 我国成功发射阿联酋813卫星等9颗卫星 新华财经北京12月10日电（罗浩）沪深两市三大股指10日早间普遍低开。各股指盘初快速下探，沪指早 盘盘中窄幅整理，深成指和创业板指则在反弹后有所回落。午后，主要股指均呈震荡反弹态势，深成指 和创业板指先后翻红。最终沪指小幅下跌，深成指小幅上涨，深成指微幅下跌。 10日，海南自贸区板块涨幅居首，免税店、种业、房地产、科创板次新、商业连锁、工程机械、租购同 权、EDA概念、教育等多个板块亦有显著上涨。银行、IT设备、培育钻石板块跌幅相对靠前，不过板块 内个股整体跌幅不大。 截至收盘，沪指报3900.50点，跌幅0.23%，成交额约7304亿元；深成指报13316. ...

Macro Economic Group - SpaceX is advancing its IPO plan, aiming to raise over $30 billion with a target valuation of approximately $1.5 trillion, potentially listing in mid-2026. This could positively impact the domestic commercial aerospace sector in China, as the valuation surge in the U.S. market often influences local industries and capital markets [3]. Advanced Manufacturing Group - GCL-Poly Energy announced the establishment of a limited partnership with its subsidiaries and China Cinda Asset Management to acquire a 42.5% stake in Xinyuan. The company raised about $700 million from a Middle Eastern sovereign fund to facilitate structural adjustments in polysilicon capacity. This partnership enhances the feasibility of industry consolidation and asset disposal, with early signs of supply-demand improvement indicated by the stabilization of polysilicon prices [7]. Consumer Group - Roborock Technology performed exceptionally during Black Friday, with total sales of 390,000 robotic vacuum cleaners in Europe, a year-on-year increase of 41%, and 210,000 units in North America, up 58%. The company also saw significant growth in floor cleaning machines, with year-on-year increases of 361% in Europe and 257% in North America, indicating strong multi-category synergy and potential profit growth [9]. - Data from Ctrip shows a 70% year-on-year increase in domestic ski and ice scenery ticket bookings from November to February, with overseas bookings rising by 50%. Notably, ski ticket bookings in China surged nearly 120% year-on-year since November, reflecting a growing demand for immersive experiences. Additionally, exports of ice and snow products from Yiwu, Zhejiang, have seen a significant increase, with some manufacturers' orders extending to March next year [9].

Core Viewpoint - SpaceX is planning an IPO expected to raise over $30 billion, with a valuation reaching $1.5 trillion, making it the largest IPO in history, surpassing Saudi Aramco's previous record of $29 billion [2][4]. Group 1: IPO Details - The IPO is targeted for mid to late 2026, but the timeline may shift due to market conditions, with potential delays into 2027 [4]. - SpaceX's rapid growth in its Starlink satellite internet service, particularly its direct-to-mobile device offerings, is a significant factor driving the IPO [4]. - Expected revenues for SpaceX are projected to be around $15 billion in 2025, increasing to between $22 billion and $24 billion in 2026, primarily from Starlink [4]. Group 2: Funding and Valuation Strategy - Part of the funds raised from the IPO will be allocated to developing space-based data centers and acquiring necessary chips for operations [5]. - SpaceX has set a share price of approximately $420 in ongoing secondary market sales, raising its valuation above the previously reported $800 billion [5]. - This valuation strategy aims to establish a fair market valuation benchmark ahead of the IPO [6]. Group 3: Impact on Elon Musk's Wealth - If SpaceX goes public at a $1.5 trillion valuation, Elon Musk's net worth could increase by approximately $630 billion, potentially exceeding $1.1 trillion total [6].

Group 1 - SpaceX is advancing its IPO plan aiming to raise over $30 billion with a target valuation of approximately $1.5 trillion, which is close to the valuation achieved by Saudi Aramco during its IPO in 2019 [2] - If successful, the fundraising will exceed Saudi Aramco's $29 billion, potentially making it the largest IPO in history [2] - The management and advisors of SpaceX are striving to complete the IPO between mid-2026 and late 2026, although the timeline may be adjusted due to market conditions [2] Group 2 - SpaceX expects revenues of about $15 billion in 2025, increasing to between $22 billion and $24 billion in 2026, primarily driven by its Starlink business [2] - Elon Musk stated that SpaceX has maintained positive cash flow for years and conducts regular stock buybacks to provide liquidity to employees and investors [2] - There are conflicting reports regarding the fundraising amount and valuation, with some sources indicating a potential IPO in the next year seeking over $25 billion and a valuation exceeding $1 trillion [3] Group 3 - SpaceX's valuation has seen rapid growth, doubling from $180 billion at the end of 2023 to approximately $400 billion in July 2023, based on internal share sales [3] - Compared to Tesla, SpaceX's valuation premium is significant, with Tesla's market cap nearing $1.5 trillion and last year's revenue around $98 billion, while SpaceX's target valuation is similar but with expected revenue only 15% of Tesla's [3]

Core Viewpoint - SpaceX is advancing its IPO plan aiming to raise over $30 billion with a target valuation of approximately $1.5 trillion, potentially making it the largest IPO in history [3][4]. Group 1: IPO Plans and Valuation - SpaceX is reportedly seeking to complete its IPO by mid to late 2026, although this timeline may be adjusted based on market conditions [3]. - The company anticipates revenues of about $15 billion in 2025, increasing to between $22 billion and $24 billion in 2026, primarily driven by its Starlink business [3]. - The estimated valuation of SpaceX has seen significant growth, doubling from $180 billion at the end of 2023 to around $400 billion in July 2023, with current estimates suggesting it could exceed $1 trillion [4]. Group 2: Comparison with Tesla - SpaceX's valuation is notably high compared to Tesla, which has a market cap of nearly $1.5 trillion and reported revenues of approximately $98 billion last year, while SpaceX's expected revenue for this year is only 15% of Tesla's [4].

Market Overview - The A-share market experienced a volatile adjustment, with the Shanghai Composite Index down 0.72%, the Shenzhen Component Index down 0.56%, and the ChiNext Index down 1.23% as of midday trading [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.15 trillion, a decrease of 120.5 billion compared to the previous trading day, with over 3,800 stocks declining [1][2] Sector Performance - The Hainan sector showed strength, with stocks like Luoniushan and Hainan Ruize hitting the daily limit [3] - The retail sector was active, with Yonghui Supermarket and Nanjing Tourism both achieving three consecutive trading limit increases [3] - The commercial aerospace sector exhibited localized strength, with companies like Zengsheng Technology achieving three consecutive trading limit increases and Tiantong Co. achieving two consecutive trading limit increases [6] Notable Company Developments - SpaceX is advancing its initial public offering (IPO) plan, aiming to raise over 30 billion USD, with a target valuation of approximately 1.5 trillion USD, and plans to utilize part of the IPO proceeds to develop a space data center [6] - Moer Thread saw a significant increase of over 19%, with a market capitalization exceeding 350 billion, following the announcement of a new GPU architecture and a comprehensive product and technology layout [6]

Group 1 - SpaceX is planning an IPO to raise over $30 billion, targeting a valuation of approximately $1.5 trillion, which is close to the valuation level reached by Saudi Aramco during its IPO in 2019 [1] - If successful, this IPO could become the largest in history, surpassing Saudi Aramco's $29 billion raised at the time [1] - The management aims to complete the IPO between mid-2026 and late 2026, although the timeline may be adjusted due to market conditions [1] Group 2 - There are conflicting reports regarding SpaceX's fundraising and valuation, with some sources indicating a target of over $25 billion and a valuation exceeding $1 trillion [2] - SpaceX's valuation has seen significant growth, doubling from $180 billion at the end of 2023 to approximately $400 billion in July 2023 [2] - Compared to Tesla, SpaceX's valuation premium is notably high, with Tesla's market cap around $1.5 trillion and expected revenue of nearly $98 billion, while SpaceX's projected revenue is only 15% of Tesla's [2]

近年来，一系列现象级创新产品的问世，让中国创新频频成为国际舆论场的焦点，悄然间改变着世人看 待中国的眼光。这一中国观的变化来之不易。近代中国积贫积弱，国家蒙辱、人民蒙难、文明蒙尘，以 至于世界对古老中华文明的认识也不免失真。其中，所谓中国"不懂创新"就是一种影响颇远的误读。 今天，开放包容、互惠共享，成为中国创新的鲜明特征。"中国接下来将主导什么领域""中国是否会赢 得创新竞赛"……一些西方媒体在报道中国创新时，常带有浓浓的危机感和博弈色彩，究其原因，仍是 在以自身的思维定式看中国。如今，中国创新发展的每一步，都彰显着"立己达人、兼济天下"的开放胸 怀。DeepSeek大模型坚持开源路径，嫦娥六号月背采样任务搭载多国科学载荷，"中国天眼"向全球科学 家开放观测申请，"中国的北斗"成为"世界的北斗"……中国一以贯之推动国际科技交流合作和开放共 享，让科技创新成果为更多国家和人民所及、所享、所用。 事实上，岁月长河始终闪耀着中华民族创新创造的熠熠光辉。5000多年文明发展进程中，中华民族为世 界贡献了大量科技创新成果，对人类文明进步影响深远。英国学者李约瑟在《中国科学技术史》中从A 到Z列举了中国古代传入欧洲等地 ...