证券分析师 2026年03月02日 离子阱路线商业化验证;树突信号 发现为算力效率提供新物理路径 卡来产业周报第 11 期（2026/2/22-2026/2/28） 相关研究 《AI4S 制药进入生态化竞争,具身 智能大脑基模实现时空记忆 来产业周报第 10 期 (2026/2/8-2026/2/21) 》 2026/02/23 《量子互联网可扩展性进步; 侵入式 脑机,迈入商业化阶段 未来产业 周报第９期(2026/2/1-2026/2/7)》 王雪蓉 A0230523070003 wangxr@swsresearch.com 牟璋璋 A0230524100002 mujj@swsresearch.com 刘雅婧 A0230521080001 liuyj@swsresearch.com 刘洋 A0230513050006 liuyang2@swsresearch.com 王胜 A0230511060001 wangsheng@swsresearch.com 联系人 王雪蓉 A0230523070003 wangxr@swsresearch.com 请务必仔细阅读正文之后的各项信息披露与声明 2026/02/ ...

《AI4S 制药进入生态化竞争，具身 智能大脑基模实现时空记忆——未 来产业周报第 10 期 （2026/2/8-2026/2/21）》 2026/02/23 《量子互联网可扩展性进步；侵入式 脑机迈入商业化阶段——未来产业 周报第 9 期（2026/2/1-2026/2/7）》 证券分析师 王雪蓉 A0230523070003 wangxr@swsresearch.com 牟瑾瑾 A0230524100002 mujj@swsresearch.com 刘雅婧 A0230521080001 liuyj@swsresearch.com 刘洋 A0230513050006 liuyang2@swsresearch.com 王胜 A0230511060001 wangsheng@swsresearch.com 联系人 王雪蓉 A0230523070003 wangxr@swsresearch.com 策 略 研 究 证 券 研 究 报 告 2026 年 03 月 02 日 离子阱路线商业化验证；树突信号 发现为算力效率提供新物理路径 ——未来产业周报第 11 期（2026/2/22-2026/2/28） 相关研究 ...

Quantum Technology - The team from the University of Science and Technology of China achieved significant breakthroughs in scalable quantum networks, including the construction of a basic module for scalable quantum repeaters, which realized an entanglement lifetime of 550 milliseconds, surpassing the establishment time of 450 milliseconds, thus overcoming a core bottleneck in quantum network expansion [4][5] - The team also achieved device-independent quantum key distribution (DI-QKD) over a 100-kilometer fiber link, improving the distance by over 100 times compared to previous best experimental levels, marking a milestone in quantum communication and expanding China's international leading position in this field [4][5] Biomanufacturing - The Shenzhen Advanced Institute of Technology developed a programmable integration platform for functional molecules, enabling applications in biomanufacturing, biosensing, and flexible electronics. This platform combines metabolic sugar engineering with click chemistry, allowing for precise covalent integration of various functional molecules [6][7] - OpenAI partnered with Ginkgo Bioworks to create an AI-driven automated experimental system that reduced the production cost of cell-free protein synthesis (CFPS) by approximately 40% and reagent costs by 57% [8] Hydrogen Energy and Nuclear Fusion - The Zhongneng Construction's Songyuan Hydrogen Energy Industrial Park project has produced over 10,000 tons of green ammonia and received EU certification, validating the integrated commercial loop of green electricity, green hydrogen, and green ammonia [9][10] - Shenzhen University's team achieved important breakthroughs in the preparation of key materials and components for fusion reactors, mastering mature technology for the first wall of fusion reactors, which will support domestic fusion reactor construction and development [10] Brain-Computer Interface - Borui Kang initiated the listing guidance process, marking a shift from research investment to market expansion for brain-computer interface technology. The company’s NEO product has completed over 32 implant surgeries with no adverse reactions, demonstrating the safety and feasibility of its minimally invasive implantation method [12][14] - Research from the Chinese Academy of Sciences established a new optogenetic technology for visual brain-computer interfaces, allowing for high-precision, long-term optical stimulation of the visual cortex, representing a significant advancement in sensory information input technology [15][17] Embodied Intelligence - Microsoft Research released a new robot model, Rho-alpha, which integrates multimodal perception capabilities, including visual, language, and tactile data, aimed at enhancing the application of embodied intelligence in unstructured environments [19] 6G and Commercial Space - The Beijing University of Posts and Telecommunications made significant progress in 6G channel modeling, with their model being included in the international 6G standard system by 3GPP [20] - The FCC accepted SpaceX's application for an orbital data center, which aims to create a satellite constellation of up to 1 million satellites to support advanced AI models and applications, indicating rapid regulatory progress [22]

Group 1: Quantum Technology - The team from the University of Science and Technology of China achieved significant breakthroughs in scalable quantum networks, including the construction of a basic module for scalable quantum repeaters and the realization of device-independent quantum key distribution (DI-QKD) over a distance of 100 kilometers, improving previous international experimental levels by over two orders of magnitude [4][5]. - The successful implementation of a quantum repeater with an entanglement lifetime of 550 milliseconds, exceeding the entanglement establishment time of 450 milliseconds, marks a critical advancement in quantum communication, enabling the construction of a kilometer-scale quantum internet [5]. Group 2: Biomanufacturing - The Shenzhen Advanced Institute of Technology developed a programmable integration platform for functional molecules, which opens up new applications in biomanufacturing, biosensing, and flexible electronics [6][7]. - OpenAI partnered with Ginkgo Bioworks to create an AI-driven automated experimental system that significantly reduces the production costs of cell-free protein synthesis (CFPS) by approximately 40% and reagent costs by 57% [8]. Group 3: Hydrogen Energy and Nuclear Fusion - The China Energy Construction Group's Songyuan hydrogen energy industrial park project has produced over 10,000 tons of green ammonia and received EU certification, validating the integrated commercial model of "green electricity - green hydrogen - green ammonia" [9][10]. - Shenzhen Energy signed a contract for a 505MW wind-solar hydrogen project with a total investment of approximately 8 billion, covering both upstream and downstream sectors [12]. Group 4: Brain-Computer Interfaces - The company Borui Kang has initiated the process for its initial public offering (IPO), marking a transition of invasive brain-computer interface technology from research to commercialization [13][15]. - A research team from the Chinese Academy of Sciences developed a novel optogenetic technique for visual brain-computer interfaces, enabling high-precision, long-term optical stimulation of the visual cortex, representing a significant advancement in sensory information input [16][18]. Group 5: Embodied Intelligence - Microsoft Research introduced a new robot model, Rho-alpha, which integrates multimodal perception capabilities, including visual, language, and tactile data, aimed at enhancing the application of embodied intelligence in unstructured environments [21]. Group 6: 6G and Commercial Space - A research team from Beijing University of Posts and Telecommunications made significant progress in 6G channel modeling, with their work being included in the international 6G standard framework by 3GPP [22]. - The U.S. Federal Communications Commission (FCC) accepted SpaceX's application for an orbital data center, which aims to establish a satellite constellation of up to 1 million satellites to support advanced AI models and applications [25]. Group 7: Future Industry Catalysts - A table summarizing key catalytic events for six future industries in 2026 was provided, highlighting important milestones and conferences that investors should track [26][27].

Quantum Technology - IonQ announced an $1.8 billion acquisition of SkyWater Technology to accelerate its roadmap towards fault-tolerant quantum computing, with plans to start functionality testing of 200,000 qubit QPUs by 2028 [6][8] - A Chinese research team discovered new principles in quantum systems using the 78-qubit superconducting quantum processor "Zhuangzi No. 2," which enhances the application of quantum computing in fields like financial modeling and drug development [7][9] Biomanufacturing - Kangnuo Biopharmaceutical submitted an application for listing on the Hong Kong Stock Exchange, focusing on mitochondrial medicine and NAD+ applications, with projected revenues of 303 million yuan in 2023 [10][11] - Guangdong Province released an action plan aiming for a 40% self-sufficiency rate in core strains of biomanufacturing by 2027, with a total output value exceeding 500 billion yuan [11] Hydrogen Energy and Nuclear Fusion - Sichuan Fusion New Energy Industry Investment Development Co., Ltd. officially commenced operations, supporting the construction of China's first internationally recognized fusion city [13] - CIMC Anrui announced the successful launch of China's first IV-type hydrogen gas bundle container, marking a significant advancement in domestic hydrogen storage and transportation technology [14] - Mingyang Electric and global leaders in hydrogen equipment established Guangdong Mingnuo Hydrogen Technology Co., focusing on high-end hydrogen equipment production [15] Brain-Computer Interface - Neuralink reported 21 participants in its human trials, with plans to enhance device performance by three times and introduce "blindsight" technology for the visually impaired by late 2026 [23][24] - The National Medical Products Administration in China is advancing the establishment of industry standards for brain-computer interface medical devices [28] Embodied Intelligence - Ant Group's Lingbo Technology open-sourced the LingBot-Depth model, significantly lowering development barriers in the industry and enhancing its competitive edge [31][32] 6G and Commercial Aerospace - CASIC successfully conducted a 120 Gbps laser communication experiment, doubling the previous rate and laying the groundwork for high-speed data transmission in commercial aerospace [33][34] - China plans to expand its "Space+" future industries, focusing on space infrastructure, resource development, and space tourism [36] Future Industry Catalysts - Key milestones for future industries in 2026 include significant events in quantum technology, biomanufacturing, hydrogen energy, brain-computer interfaces, embodied intelligence, and 6G [37][38]

Group 1: Quantum Technology - The report highlights significant advancements in quantum error correction technology, with Zhejiang University and Tsinghua University demonstrating low-overhead quantum error correction codes, effectively reducing logical error rates below physical error rates [4][5] - Horizon Quantum Computing has formed a strategic partnership with Alice&Bob to accelerate the development of fault-tolerant quantum computing, integrating their software and hardware capabilities [5] - GuoDun Quantum plans to sign a technology licensing contract with the University of Science and Technology of China, involving quantum random number generators and superconducting quantum computing control systems [6][7] Group 2: Biomanufacturing - The Chinese Academy of Sciences has achieved a breakthrough in synthesizing L-arginine using methanol as the sole carbon source, marking a shift towards non-grain-based production methods [8][9] - The Shenzhen Advanced Institute has developed the MARS intelligent system, which integrates multiple AI agents and robots to significantly shorten the new material development cycle from four months to four hours [9][10] - Jinbo Biological has registered a 2 billion yuan private placement to enhance its humanized collagen protein FAST database project, aiming to improve research and development efficiency [11] Group 3: Hydrogen Energy and Nuclear Fusion - The Baowu Clean Energy green hydrogen industrial park project, with a total investment of 11.09 billion yuan, has been launched in Guangdong, establishing a new model for offshore wind power direct hydrogen production [12][13] - A Chinese consortium has signed a significant contract for the ITER edge local model power supply system, marking a major step in China's contribution to global fusion energy projects [15] - Zhejiang Fu Nuclear Power will participate in the development of core components for the China Fusion Engineering Demonstration Reactor (CFEDR), focusing on ultra-high heat load components [16][17] Group 4: Brain-Computer Interfaces - Neuralink has successfully implemented OTA wireless upgrades for its invasive brain-computer interface, allowing for performance optimization without the need for additional surgeries [18][19] - This advancement addresses the traditional limitations of invasive devices, reducing clinical maintenance risks and costs while enhancing the adaptability of the technology [20] Group 5: Embodied Intelligence - World Labs, founded by Fei-Fei Li, has partnered with Guanglun Intelligent to create an evaluation system for embodied intelligence, addressing high verification costs and discrepancies between simulation and reality [21][22] - The Marble model developed by World Labs generates high-fidelity 3D environments from various inputs, solving traditional model issues but lacking physical interaction capabilities [22][23] Group 6: Future Industry Catalysts - The report outlines key catalytic events for 2026 across six future industries, including significant conferences and technological milestones that investors should monitor [28][29]

Group 1: Quantum Technology - The "quantum + supercomputing" integration innovation platform has been established in Chengdu, deploying China's first 550-qubit coherent optical quantum computer, enabling the collaboration of classical high-performance computing and quantum computing [7][8] - The deployment of the 550-qubit quantum computer fills the gap in the central and western regions of China for quantum computing capabilities, establishing a complementary regional computing power structure with eastern regions [8][9] Group 2: Biological Manufacturing - The first sugar science key laboratory in Beijing has been approved, co-established by Huaxi Biological and Peking University, focusing on precise manufacturing and functional applications of sugars [10][11] - Huaxi Biological aims to leverage this laboratory to enhance its capabilities in synthetic biology, expanding from hyaluronic acid production to comprehensive sugar biological research [11] Group 3: Hydrogen Energy and Nuclear Fusion - The world's first 30 MW pure hydrogen gas turbine has achieved stable operation, marking a significant step in hydrogen energy transitioning from a "power consumer" to a "grid regulator" [12][13] - The EAST nuclear fusion device has confirmed the existence of a density-free regime, providing critical physical evidence for efficient operation of fusion reactors [18][19] - The Chinese Academy of Sciences has completed the manufacturing of all ITER correction coil procurement packages, marking a significant achievement in domestic R&D capabilities for nuclear fusion components [22] Group 4: Brain-Computer Interface - Neuralink plans to begin mass production of brain-computer interface devices in 2026, aiming to automate surgical procedures and enhance device performance [23][24] - The "Beijing Brain No. 1" system has been implanted in five spinal cord injury patients, achieving clinical breakthroughs, with plans for clinical trials to start in mid-2026 [26][27] - The "Guangdong-Hong Kong-Macao Greater Bay Area Brain Science and Central Nervous System Disease AI Innovation Alliance" has been launched, focusing on research and development in brain science and related technologies [28] Group 5: Embodied Intelligence - Woan Robotics has gone public in Hong Kong, focusing on household scenarios with plans to launch a humanoid household robot in January 2026 [29][30] - The "Qiyuan Q1," the world's first small-sized humanoid robot with full-body force control, has been released, targeting research and interactive applications [33][34] Group 6: Future Industry Catalysts - A table has been organized detailing key catalytic events for six future industries in 2026, including important conferences and technological milestones [36][38]

Group 1: Quantum Technology - The "quantum + supercomputing" integration innovation platform has been established in Chengdu, deploying China's first 550-qubit coherent optical quantum computer, achieving a synergy between classical high-performance computing and quantum computing [7][8] - The deployment of the 550-qubit quantum computer fills the gap in mid-western China for quantum computing capabilities and complements eastern regions like Hefei and Beijing [8] Group 2: Biomanufacturing - The first sugar science key laboratory in Beijing has been approved, co-established by Huaxi Biological and Peking University, focusing on precise manufacturing and functional applications of sugars [10][11] - Huaxi Biological aims to leverage this laboratory to enhance its capabilities in synthetic biology, expanding from hyaluronic acid production to comprehensive sugar biological research [11] Group 3: Hydrogen Energy and Nuclear Fusion - The world's first 30 MW pure hydrogen gas turbine has achieved stable operation, marking a significant step in hydrogen energy transitioning from a "power consumer" to a "grid regulator" [12][14] - The EAST nuclear fusion device has confirmed the existence of a density-free zone, providing critical physical evidence for efficient fusion reactor operation [18][19] - The ITER correction coil procurement package has been fully manufactured, showcasing China's 100% independent research and development capabilities in key components for nuclear fusion [22] Group 4: Brain-Computer Interface - Neuralink plans to begin mass production of brain-computer interface devices in 2026, aiming to automate surgical procedures and enhance device performance [24][25] - The "Beijing Brain One" system has been implanted in five spinal cord injury patients, with plans for clinical trials to start in mid-2026 [28][29] - The "Guangdong-Hong Kong-Macao Greater Bay Area Brain Science and Central Nervous System AI Innovation Alliance" has been launched, with a total fund of 1.16 billion yuan for brain science projects [30] Group 5: Embodied Intelligence - Woan Robot has been listed on the Hong Kong Stock Exchange, focusing on household scenarios with plans to launch a humanoid household robot in January 2026 [32][33] - The "Shangwei Qiyuan" brand has entered the personal robot market with the release of the world's first small-sized humanoid robot, emphasizing its application in research and interaction [37][38] Group 6: Future Industry Catalysts - A table has been compiled detailing key catalytic events for six future industries in 2026, including important conferences and technological milestones [40][41]

Quantum Technology - The National Venture Capital Guidance Fund has been launched, focusing on quantum technology, biomedicine, brain-computer interfaces, and other future industries, with an initial capital of 100 billion yuan to attract social capital [5][6] - A significant breakthrough in quantum error correction has been achieved by the University of Science and Technology of China, demonstrating a key milestone in achieving fault-tolerant quantum computing [7][9][10] Biomanufacturing - The European Union has released the Biotechnology Act and associated measures to enhance global competitiveness in biotechnology, aiming to mobilize 10 billion euros in capital from 2026 to 2027 [11][12] - The EU's initiatives include accelerating clinical trials, establishing regulatory sandboxes, and enhancing the application of AI in biomanufacturing, addressing funding shortages and innovation barriers [13][16] Hydrogen Energy and Nuclear Fusion - The Ministry of Industry and Information Technology of China has included three key areas in its 2025 application plan for hydrogen energy, focusing on fuel cell systems, hydrogen compressors, and ammonia co-firing technology [17][18] - South Korea has advanced its nuclear fusion power demonstration target to the 2030s, planning to overcome eight core technologies by 2035 [19][20] - The UK Tokamak Energy ST40 device has set new records in plasma current and energy storage, marking significant progress in commercial fusion energy [21] Brain-Computer Interfaces - A new generation of closed-loop brain-computer interface has been developed by the Chinese Academy of Sciences, enabling functional recovery in spinal cord injury models through real-time decoding of brain movement intentions [22] Embodied Intelligence - The establishment of a national standardization committee for humanoid robots and embodied intelligence aims to enhance the quality and application of these technologies [25] - UBTECH plans to acquire a 43% stake in Fenglong Co., enhancing collaboration in humanoid robot manufacturing and supply chain integration [26][29] Sixth Generation Mobile Communication (6G) - The Ministry of Industry and Information Technology emphasizes systematic advancement in 6G technology research and standard development during the 14th Five-Year Plan period [30] - The U.S. has initiated a spectrum strategy for 6G, focusing on reallocating frequency resources to secure a leading position in global 6G development [31][32] - China has established a collaborative system involving government, industry, and research institutions to promote 6G development, positioning itself as a leader in the field [34][36]

Group 1: Market Overview - The Shanghai Composite Index closed at 3890, with a slight increase of 0.36% [1] - The Shenzhen Composite Index also saw a rise of 0.98%, indicating a positive market sentiment [1] - Large-cap indices showed a modest increase of 0.3% yesterday, while mid-cap and small-cap indices performed better with increases of 0.91% and 0.8% respectively over the same period [1] Group 2: Industry Performance - The home decoration industry led the gains with a 3.33% increase yesterday, reflecting strong demand [1] - The energy sector also performed well, with a 3.26% increase, although it has seen a decline of 3.9% over the past month [1] - Conversely, the electronic components sector faced significant declines, with a drop of 3.46% yesterday and a 69.42% decrease over the past six months [1] Group 3: Future Industry Trends - The report highlights key future industries including quantum technology, bio-manufacturing, hydrogen energy, and brain-computer interfaces, emphasizing recent breakthroughs and commercialization efforts [10][8] - In quantum technology, a significant academic breakthrough was reported with the development of an 11-qubit silicon-based processor, marking progress in semiconductor quantum computing [10][8] - The bio-manufacturing sector is seeing advancements with AI applications in pharmaceuticals, as a unicorn company plans to raise 2.277 billion HKD for drug development [10][8] Group 4: Strategic Recommendations - The report suggests focusing on the hydrogen energy sector, particularly with the launch of the world's largest green hydrogen project, which is expected to drive growth in this area [10][8] - The brain-computer interface technology is advancing with successful clinical trials, indicating a promising future for this field [10][8] - The automotive industry is witnessing the approval of L3 autonomous driving models, which is expected to enhance the market for intelligent vehicles [21][22]