Core Viewpoint - The Central Committee of the Communist Party of China has released recommendations for the 15th Five-Year Plan, emphasizing the need for original innovation and breakthroughs in key core technologies [1] Group 1: Key Areas of Focus - Strengthening original innovation and tackling key core technologies through a comprehensive approach [1] - Promoting decisive breakthroughs in critical fields such as integrated circuits, industrial mother machines, high-end instruments, basic software, advanced materials, and biomanufacturing [1] - Implementing a series of major national scientific tasks that align with national strategic needs [1] Group 2: Research and Development Strategy - Enhancing the strategic, forward-looking, and systematic layout of basic research [1] - Increasing the proportion of investment in basic research and providing long-term stable support [1] - Fostering an environment conducive to original and disruptive innovation to yield more landmark original achievements [1]

人民财讯10月28日电，钜泉科技(688391)10月28日公告，全资子公司鑫聚泉拟作为有限合伙人出资1.5亿 元参与设立产业基金，本次出资完成后公司将持有产业基金首次认缴出资总额99.93%的合伙份额。该 基金的主要投资方向为芯片、集成电路及其他前沿、高景气产业链等领域。 ...

突出国家战略需求，部署实施一批国家重大科技任务。加强基础研究战略性、前瞻性、体系化布局，提高基础研究投入比重，加大长期稳定支持。 强化科学研究、技术开发原始创新导向，优化有利于原创性、颠覆性创新的环境，产出更多标志性原创成果。 中共中央关于制定国民经济和社会发展第十五个五年规划的建议发布。其中指出，加强原始创新和关键核心技术攻关。完善新型举国体制，采取超 常规措施， 全链条推动集成电路、工业母机、高端仪器、基础软件、先进材料、生物制造等重点领域关键核心技术攻关取得决定性突破。 ...

中共中央关于制定国民经济和社会发展第十五个五年规划的建议 （2025年10月23日中国共产党第二十届中央委员会第四次全体会议通过） 中国共产党第二十届中央委员会第四次全体会议深入分析国际国内形势，就制定国民经济和社会发展"十五 五"规划提出以下建议。 一、"十五五"时期是基本实现社会主义现代化的关键时期 （1）"十四五"时期我国发展取得重大成就。"十四五"时期我国发展历程极不寻常、极不平凡。面对错综复杂 的国际形势和艰巨繁重的国内改革发展稳定任务，以习近平同志为核心的党中央团结带领全党全国各族人民， 迎难而上、砥砺前行，经受住世纪疫情严重冲击，有效应对一系列重大风险挑战，推动党和国家事业取得新的 重大成就。经济运行稳中有进，高质量发展扎实推进；科技创新成果丰硕，新质生产力稳步发展；全面深化改 革进一步推进，高水平对外开放不断扩大；全过程人民民主深入发展，全面依法治国有效实施；文化事业和文 化产业蓬勃发展，精神文化产品丰富多彩；民生保障扎实稳固，脱贫攻坚成果巩固拓展；绿色低碳转型步伐加 快，生态环境质量持续改善；国家安全能力有效提升，社会治理效能增强，社会大局保持稳定；国防和军队建 设取得重大进展；"一国两制" ...

聚力推动数字经济跨越发展，数实融合提速突破。坚持基建先行、夯基固本，扎实推进5G和千兆光网 建设，"十四五"以来，5G年均投资100亿元以上，累计建成5G基站26.6万个，千兆城市数量居全国第 2，获批青岛国际通信业务出入口局，建成济南、青岛两个国家级互联网骨干直联点，成为全国首个"双 枢纽"省份。高效集约建设算力基础设施，集中打造济南、青岛、枣庄三大算力枢纽，全省一体化算力 网加快构建，智能算力占比超过50%。坚持场景牵引、融合赋能，出台人工智能赋能重点领域高质量发 展推进方案，深度拓展智能制造、智慧生活、智慧政务等应用场景，齐鲁文化大模型、海尔智慧家庭等 17个大模型通过国家备案，"人工智能＋港口"成功纳入首批国家级人工智能应用中试基地。同时，培育 国家级数字领航企业18家、国家级工业互联网平台46家，均居全国第一，卡奥斯连续6年蝉联全国"双 跨"平台榜首，数字技术加速赋能，为高质量发展打开新的空间。 聚力推动传统产业改造提升，产业能级加速提档。坚持高端提质、集聚集约，推动石化、钢铁等重点产 业沿海布局、集群发展，累计转移粗钢产能2356万吨、整合炼油产能2696万吨，裕龙岛炼化一体化、山 钢永锋临港基地 ...

Core Insights - The company reported a revenue of 4.904 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 15.05%, and a net profit attributable to shareholders of 1.263 billion yuan, up 25.04% year-on-year [1] - In Q3 alone, the company achieved a revenue of 1.857 billion yuan, a significant increase of 33.60% year-on-year, and a net profit of 571 million yuan, which is a remarkable growth of 109.55% year-on-year [1] - The growth in performance is primarily attributed to increased downstream demand in the special integrated circuit business and higher product sales [1] Business Development - The company is a leading comprehensive semiconductor enterprise in China, excelling in special integrated circuits, smart security chips, and quartz crystal frequency devices, with applications across various industries including mobile communication, finance, government, automotive, industrial, and IoT [1] - The company has launched a new generation of anti-counterfeiting chip, T91-506, which supports ultra-low voltage communication and offers a one-stop solution for battery safety in electronic devices [1] - The company is actively involved in industry ecosystem development, contributing to the release of the first "Automotive Safety Chip Application Field White Paper" in China, which outlines five core application scenarios [1] Automotive Electronics - The company has established a comprehensive solution capability covering multiple scenarios in automotive electronics, collaborating with over 100 leading companies in the automotive electronics sector [2] - Its automotive control chips are widely used in critical areas such as engine control, transmission control, vehicle control, electric drive control, ADAS, and battery management [2] - The automotive safety chip series has been adopted by several major OEMs and Tier 1 suppliers, with cumulative shipments reaching millions, indicating a growing second growth curve for the company's automotive electronics business [2] Future Outlook - The company has announced a stock incentive plan, proposing to grant 16.8 million stock options, which represents 1.98% of the company's equity, to 466 individuals including directors and key personnel, reflecting confidence in future growth [2] - The company aims to solidify its core technology, drive innovation, and enhance its main business advantages, committing to high-quality development and contributing to the new digital economy landscape [3]

中国发展网讯 记者缪晓琴报道 作为距离上海中心城区最近的新城，嘉定区如何因地制宜发展新质生产 力，让高质量发展的基础更厚、成色更足？在10月22日举行的"实干绘答卷接力新蓝图"上海"十四五"规 划成果系列第九场新闻发布会上，嘉定区委书记肖文高介绍，从"汽车城"奔向"未来城"，嘉定成功迈 上"3个3000亿元"的新台阶，区域发展跑出了"四个嘉速度"。 过去5年中，嘉定紧紧围绕加快建成"创新活力充沛、融合发展充分、人文魅力充足、人民生活充裕"的 现代化新型城市总目标，坚持抢抓机遇、砥砺奋进，干在实处、走在前列。这为"收官之年"城市能级与 核心竞争力的腾飞插上了翅膀。 聚焦发展，关键指标实现历史突破 2024年，嘉定区地区生产总值实现历史性突破，首次跨越3000亿元大关，彰显区域经济强劲发展动能。 与此同时，单位建设用地生产总值较"十三五"期末显著提升20个百分点，土地利用效率实现质的飞 跃。"十四五"期间，全区固定资产投资累计总额突破3000亿元，远超2500亿元预期目标，充分体现了区 域投资的活跃度与发展潜力。 汽车产业是嘉定的基因底色，但绝非发展的天花板。肖文高介绍，面对汽车产业变革带来的机遇和挑 战，"汽车 ...

2025 年 10 月 28 日 泰凌微(688591.SH) 端侧 AI 与物联网双翼驱动，成长路径 清晰 事件： 10 月 27 日，公司发布 2025 年第三季度报告，第三季度营收 2.63 亿元，同比增长 18.57%；归母净利润 3861.46 万元，同比增长 3.56%;归母扣非净利润 3630.82 万元，同比增长 3.06%。 股价表现 资料来源：Wind 资讯 升幅% 1M 3M 12M 相对收益 -14.0 -5.3 83.0 绝对收益 -10.3 9.0 102.2 马良 分析师 -10% 5% 20% 35% 50% 65% 80% 95% 110% 125% 140% 2024-10 2025-02 2025-06 2025-10 泰凌微 沪深300 SAC 执业证书编号：S1450518060001 maliang2@essence.com.cn 相关报告 硬件平台双驱动，凭借超低功耗卡位端侧 AI 高增长赛道 公司持续加码端侧 AI 底层硬件研发，2025 年第三季度单季研发投入 达 0.69 亿元，同比增长 38.96%，环比提升 19.04%，积极拥抱 AI 算 力从云端向终 ...

Core Points - The first batch of new registered companies in the Sci-Tech Innovation Board's growth tier, including Xian Yicai, Heyuan Bio, and Bibet, officially listed on October 28, marking a significant milestone for the board [1][4][7] - The listing increased the total number of companies in the growth tier to 35 and the total number of listed companies on the Sci-Tech Innovation Board to 592 [1] - The initial offering prices for the three companies were 8.62 CNY, 29.06 CNY, and 17.78 CNY per share, with significant price increases observed by midday trading on the listing day [1] Company Summaries - Xian Yicai's stock price rose to 26.74 CNY, reflecting a 210.21% increase from its offering price [1] - Heyuan Bio's stock reached 88.04 CNY, marking a 202.96% increase [1] - Bibet's stock price climbed to 34.44 CNY, showing a 93.7% increase [1] Regulatory and Policy Insights - The Vice Chairman of the China Securities Regulatory Commission (CSRC), Li Chao, emphasized the importance of utilizing reform policies to enhance development quality and investor returns [5][7] - Li noted that the establishment of the growth tier represents a solid step forward in capital markets supporting technological innovation and new productive forces [7] - The CSRC has implemented several significant policy measures, including the "1+6" reform framework, to facilitate the growth of high-tech enterprises [8] Government Support and Future Directions - Shanghai's Vice Mayor, Wu Wei, highlighted the city's commitment to building a world-class investment and financing ecosystem for "hard tech" companies [9][11] - Wu stated that the Sci-Tech Innovation Board has successfully nurtured a number of high-growth technology companies and has created replicable reform experiences [11] - The government aims to enhance the international competitiveness of Shanghai as a technology innovation hub [12] Market Dynamics and Future Outlook - The Shanghai Stock Exchange's Chairman, Qiu Yong, indicated that the board will continue to support "hard tech" companies with a focus on high standards and effective regulation [13][15] - The market is expected to see a continued influx of innovative companies as the regulatory environment becomes more accommodating [15][19] - The integration of technology, finance, and industry is anticipated to foster a virtuous cycle that supports sustainable economic growth [18][22]

中经记者 郝亚娟 夏欣 上海 北京报道 近日，《人民日报》报道，我国芯片领域取得了新突破。 在芯片研发和投产的产业链上，活跃着大量中小微企业。科技型小微企业是科技创新的"生力军"，在集 成电路等战略性新兴产业发展中发挥着关键作用。然而，这些企业普遍面临研发周期长、资金需求急、 可抵押资产少等难题，融资困境成为制约其成长的重要瓶颈。 针对这一痛点，上海华瑞银行构建完善的科创普惠产品体系，助力科技型小微企业高质量发展。通过精 准对接芯片产业链科技企业需求，依托科创普惠金融产品，提供低成本的融资支持。 科技金融进阶：从"重资产"到"重价值" 清华大学五道口金融学院金融安全研究中心发布的《专精特新企业融资实践路径与安全策略报告 （2025）》显示，很多科技企业的资产负债表呈现出典型的"轻资产"特征，其核心价值体现为知识产 权、研发团队等无形资产。固定资产占比低于传统制造业企业，核心资产难以通过传统抵押方式融资。 对于银行而言，传统模型依赖历史现金流、利润率等指标，无法衡量技术潜力与未来价值，导致成长期 企业被判定为高风险。在以有形资产为核心的抵押文化下，科技企业最有价值的资产——知识产权，却 因其估值难、流动性差，导 ...