薄如纸片的AR波导镜片，打破了全息光刻胶材料领域长期面临的"卡脖子"难题；"会思考"的眼镜，为 AR行业打开广阔的市场前景；完全消除彩虹纹的碳化硅刻蚀光波导产品，开启AR眼镜的视觉革命…… 在广州开发区、黄埔区，众多新型显示前沿企业正聚焦"未来视界"打响一场突围战。作为广州打造"世 界显示之都"的核心承载区和全国新型显示产业的"主引擎"之一，广州开发区、黄埔区目前汇聚139家规 模以上新型显示企业，覆盖"材料—装备—面板—模组—终端应用"全产业链，以全链突围之势抢占"未 来显示"高地。 在尼卡光学科技有限公司展厅，一块厚度仅0.6毫米的透明镜片在灯光下折射出清晰图像——这是企业 自主研发的体全息波导镜片，也是当前全球最薄的AR光学模组之一。创始人兼CEO杜有成手持镜片 说，镜片透光率高达98%至99%。"明年我们计划推出0.4毫米版本，相当于一张普通打印纸的厚度。"杜 有成说。 据介绍，这家手握硬核科技的年轻企业，86人的团队中研发人员占比超过76%，在全息光刻胶材料这一 长期被"卡脖子"的关键领域实现了100%国产化突破。"为突破全息光刻胶材料，我们试了几百种配方， 终于调出了能兼顾分辨率与稳定性的'黄金比 ...

今年8月以来，上海证券报社先后组织四次"上市公司优强企业安徽行"活动，被安徽省方面赞誉为"招 商引资的2.0版" 扫描上方二维码 查看中国证券网专题 黄山迎客松 全国第三 中国社会科学院发布的《中国法治发展报告（2025）》，对包括31家省级政府等在内的各级政府透明度 进行评估，其中，优化营商环境指标，安徽省政府得分75分，与广东省并列全国第三 到安徽去，做合伙人 重商、安商、亲商、暖商、护商，在安徽已从理念转化为深入人心的实践。这份自觉，不仅根植于"贾 而好儒""诚信致远"的徽商传统，更体现为当下各级政府主动作为的优良作风 "我们在合肥已有一个采购公司。现在正考虑在合肥落地研发与制造板块，这样能够真正与本地合作伙 伴实现'零距离'。" "那你抓紧和合肥方面沟通，如果（合作）公司旁边有地的话，还犹豫什么？可以直接谈！" 这一幕"现场办公"，发生在10月30日举行的"上市公司优强企业安徽行投资对接会"上。今年8月以来， 上海证券报社先后组织四次"上市公司优强企业安徽行"活动，走进合肥、淮南、宿州、六安等地，开展 实地调研与座谈交流。一场场考察、一次次对接，安徽全省上下亲商、重商、惠商、爱商的营商环境， 给企业家 ...

Core Insights - The "Hefei Experience" has evolved through three stages, focusing on attracting leading enterprises, nurturing high-potential startups, and creating an innovative ecosystem for sustainable growth [2][4][6] Investment Strategy - During the 14th Five-Year Plan, Hefei's state-owned assets completed project investments exceeding 430 billion yuan, with over 45% allocated to strategic emerging industries [3][7] - The "Investment-Driven Attraction" model has successfully cultivated clusters in integrated circuits, new displays, and new energy vehicles, leading to a continuous expansion of the Hefei capital market [3][7] Ecosystem Development - The Hefei Experience emphasizes a "tropical rainforest" innovation ecosystem, maximizing resource aggregation and efficient linkages, transitioning from traditional investment models to a full lifecycle support for enterprises [6][12] - Hefei's investment promotion bureau has segmented the industry into 11 sub-tracks to systematically identify potential projects, resulting in over 600 new project leads exceeding 100 million yuan [5][11] Financial Innovation - Hefei has introduced various financial tools, including merger loans, intellectual property securitization, and special purpose vehicles (SPVs), to support the capital needs of technology enterprises [12][13] - The establishment of a "buyer's library" and "seller's library" aims to facilitate mergers and acquisitions, focusing on companies with strong integration capabilities and high acquisition value [11][10] Future Outlook - Hefei is advancing its investment strategy by emphasizing the role of state-owned assets and market-oriented fund management to enhance resource integration capabilities [4][12] - The city is also exploring new models for industry introduction through acquisitions, ensuring a win-win scenario for government, listed companies, and industry operators [9][10]

长沙晚报掌上长沙12月4日讯（全媒体记者 陈星源）12月4日，"长沙'十四五'答卷"系列主题新闻发布会打造国家 重要先进制造业高地专场举行。长沙经开区党工委委员、管委会副主任彭正球，浏阳经开区党工委委员、管委会 副主任肖赛男，长沙高新区长沙信息产业片区管理办公室党组成员、副主任陈娟就园区发展情况回答了记者提 问。 锻造韧性安全链条，勇当科技自立自强先锋 "十四五"以来，长沙经开区锚定"三高四新"美好蓝图，坚定不移走高质量发展之路，取得了阶段性显著成效。 一组数据勾勒出发展轨迹：园区高新技术企业数量年均增长24%，新增各类科技研发机构230家。目前拥有国家制 造业单项冠军14家、国家级专精特新"小巨人"企业35家，每万产业人口有效发明专利拥有量达597件。园区位列全 国园区产业高质量发展百强（先进制造）第22位。 具体成果体现在四个"新"。一是先进制造业高地建设取得新成果。园区连续四年获评国家新型工业化产业示范基 地五星评价，工程机械产业占全国市场份额30%，三一重工、铁建重工、山河智能连续四年入围全球工程机械制 造商50强。新能源汽车产值占园区整车企业产值比重跃升至66.5%。二是新质生产力培育壮大迈出新步伐 ...

Group 1 - The company plans to invest 80 million RMB to establish the Fujian Fojin Xinke Venture Capital Partnership (tentative name) with several partners, focusing on sectors such as semiconductors, artificial intelligence, and new materials, with a total fund size of 300 million RMB [1][43][24] - The investment aims to leverage high-tech resources and strengthen ties with government entities, enhancing collaboration in various fields including industry, capital, and technology [25][24] - The fund will not be consolidated into the company's financial statements, and the investment will not significantly impact the company's normal operations or financial status [26][24] Group 2 - The investment has been approved by the company's board of directors and independent directors, ensuring compliance with relevant laws and regulations [2][44][29] - The ordinary partner of the fund is a subsidiary of the company's controlling shareholder, establishing a clear relationship and oversight mechanism [2][3] - The fund's management fees will be 2% of the total amount invested during the investment period and 1% during the exit period, ensuring a structured fee arrangement [17][24]

Core Viewpoint - The termination of major asset restructuring by companies such as Koyuan Pharmaceutical and Guokewi adds to the growing list of failed restructuring attempts in the A-share market, with 56 companies having announced the failure of their restructuring plans this year, indicating significant operational pressures within the market [1][3][5]. Group 1: Restructuring Terminations - Koyuan Pharmaceutical and Guokewi announced the termination of their restructuring plans on November 28, 2025, with Guokewi specifically stating the inability to reach consensus on transaction-related matters [3][4]. - The total number of companies that have terminated restructuring plans in the A-share market this year has reached 56, including notable firms like Meng Tian Home and Binhai Energy [5][6]. - Among the terminated restructuring cases, several companies were involved in cross-industry mergers, such as Meng Tian Home, which aimed to acquire control of a semiconductor company [9][10]. Group 2: Financial Performance - Over 44% of the 56 companies that terminated their restructuring plans reported net losses in the first three quarters of 2025, with 25 companies showing negative net profits [6][7]. - The company with the largest net loss was Huangting International, reporting a net profit of approximately -2.444 billion yuan, while VisiNova also reported significant losses of around -1.623 billion yuan [6][7]. - Among the companies that reported losses, a significant portion experienced a year-on-year decline in net profits, indicating worsening financial conditions [7][8]. Group 3: Future Strategies - Guokewi plans to continue focusing on its core business while seeking external acquisition opportunities that align with policy encouragement and strategic synergy [4]. - The termination of restructuring plans may lead companies to reassess their development strategies and seek new growth avenues, especially if restructuring was previously seen as a key growth strategy [5].

Core Viewpoint - The company plans to invest 50 million RMB to establish a venture capital partnership focused on high-quality projects in semiconductor, artificial intelligence, new generation information technology, new display, and new materials industries, with a total fund size of 300 million RMB [1] Group 1 - The company will use its own funds of 50 million RMB to co-invest with several partners [1] - The partners include Fujian Electronic Information Industry Equity Investment Management Co., Ltd., Fujian StarNet RuiJie Communication Co., Ltd., Fujian JinTou JinPeng Venture Capital Fund Partnership (Limited Partnership), and Fuzhou Venture Capital Co., Ltd. [1] - The fund aims to invest in projects that align with new productive forces and have potential merger and acquisition value [1]

Core Insights - The Chengdu Industrial Investment Group has achieved a significant milestone by ranking in the top 20 of the "Top 100 Best State-owned Investment Institutions" for 2025, marking it as the only institution from the central and western regions in this elite group [1][8][12] - This recognition highlights the group's exceptional investment management capabilities and its leading position in regional industrial investment [1][12] - The success of Chengdu Industrial Investment Group serves as a model for other state-owned investment institutions in the central and western regions, demonstrating that they can compete with established eastern coastal institutions [12][13] Investment Performance - Chengdu Industrial Investment Group's subsidiary, Chengdu Science and Technology Investment Group, was also recognized in the "Top 30 Best Venture Capital Limited Partners" for 2025, showcasing its strong performance in venture capital [1][8] - The Chengdu Angel Fund, managed by Chengdu Science and Technology Investment Group, made its debut in the "Top 30 Best Venture Capital Guidance Funds" for 2025, indicating its effective investment strategies [1][8] Strategic Positioning - The ranking reflects a shift in the investment landscape, breaking the long-standing dominance of eastern coastal institutions in the state-owned investment sector [12][13] - Chengdu Industrial Investment Group's approach focuses on "industry partners" and "patient capital," allowing it to create a sustainable investment cycle in long-term sectors like hard technology [13][15] Case Study: Investment in the Drone Industry - The investment in the "Zhongwu Drone" project exemplifies the group's strategic foresight, where an initial investment of 60 million yuan has grown to a market value of approximately 3.132 billion yuan, representing a more than 50-fold increase [14] - The group has realized nearly 900 million yuan in profits from this investment, with projected total profits exceeding 2 billion yuan, showcasing its effective investment strategy [14] Future Development and Urban Strategy - Chengdu is actively promoting the construction of a western economic center, technology innovation center, and advanced manufacturing base, providing a clear strategic direction for local state-owned investment institutions [15][16] - The investment model of "leading enterprises + supporting projects" has facilitated the rapid establishment of local industrial chains, enhancing the overall investment ecosystem [16][17]

Core Insights - Two companies from Hubei, Changfei Fiber and Wuhan BOE, have been recognized as the first batch of "leading intelligent factories" in China, showcasing the province's strong position in the smart manufacturing sector [1][3] Group 1: Intelligent Manufacturing Recognition - The Ministry of Industry and Information Technology announced a list of 15 leading intelligent factories, with Hubei's two companies tying for the highest number of selections alongside Shanghai, Jiangsu, Shandong, and Zhejiang [1] - The leading intelligent factory designation represents the highest standard of intelligent manufacturing in China, integrating advanced technologies and management practices [2] Group 2: Company Highlights - Changfei Fiber's factory focuses on extreme craftsmanship and has developed an intelligent scheduling system that allows for the parallel production of hundreds of fiber optic cables, achieving a production rate of 10,000 kilometers in 72 hours without changing the preform [3][4] - Wuhan BOE's factory emphasizes efficiency, with an AI defect management system that ensures a product yield rate exceeding 98%, and it operates the largest single production line for liquid crystal displays globally [4] Group 3: Hubei's Smart Manufacturing Landscape - Hubei has established a comprehensive gradient cultivation system for intelligent factories, with a total of 2 leading, 24 excellent, 1,034 advanced, and 1,249 basic intelligent factories recognized to date [4]

Core Insights - The project signed involves a total investment of 1.6 billion yuan, aimed at establishing a global IC R&D center and production lines for display modules and terminal products OEM, with plans for expansion before 2024 [2] - Upon reaching full production capacity, the project is expected to yield an annual output of 13 million micro display modules and 3 million XR devices, generating an estimated annual output value of 9 billion yuan and creating over 500 jobs [2] - The project is a strategic move for Anhui Xitai Intelligent Technology Co., Ltd. to capitalize on the explosive growth of the global XR market, enhancing the company's production capacity and technological level, and expanding its business value chain [2] Company Overview - Anhui Xitai Technology is recognized as a national high-tech enterprise and a specialized and innovative enterprise in Anhui province, holding over 470 patents, with more than 60% being invention patents [3] - The company has been awarded titles such as "Leading Enterprise in China's New Micro Display Technology," and its products are widely used in AR/VR/MR headsets, smart wearables, industrial inspection, and medical imaging [3] Industry Impact - The project represents a significant step for Meishan Tianfu New Area in advancing its high-end layout in the new display industry, injecting strong momentum into the electronic information industry ecosystem in the Chengdu-Chongqing economic circle [2] - This initiative is expected to reshape the competitive landscape of core components in the XR terminal sector in the southwestern region of Sichuan [2]