证券日报网讯1月6日，航天智造（300446）在互动平台回答投资者提问时表示，公司当前业务聚焦于汽 车零部件、油气装备、高性能功能材料这三大领域。对于商业航天等战略性新兴产业，公司会结合自身 技术积累与市场条件，保持关注与研究，寻求合适的市场机会。未来如有进一步资本运作等重大事项发 生，公司将按照信息披露要求及时公告。 ...

证券日报网讯1月6日，航天智造（300446）在互动平台回答投资者提问时表示，公司作为航天七院的上 市平台，始终密切关注商业航天产业的发展机遇。公司将首先立足于在汽车零部件、油气装备、高性能 功能材料等领域积累的核心技术与产业链能力，并充分发挥自身产业与技术优势，发挥资本运作平台作 用，以建设世界一流航天智能装备制造企业为中长期目标，积极寻找与商业航天产业链的协同点，逐步 实现公司做强做优做大。 ...

Core Viewpoint - Haimer Technology has announced a restricted stock incentive plan for 2025, aiming to strengthen the alignment of interests between its core team and the company's long-term development [1][2]. Group 1: Incentive Plan Details - The company plans to grant restricted stocks to no more than 107 individuals, totaling up to 41.065 million shares, which represents 8.05% of the company's total share capital at the time of the announcement [1]. - The grant price is set at 4.82 yuan per share, indicating a strategic move to enhance organizational cohesion and execution capabilities [1]. Group 2: Organizational Adjustments - Concurrently with the incentive plan, the company has optimized its organizational structure, establishing a new M&A Investment Department to enhance its professional capabilities in industrial investment and due diligence [2]. - Key personnel adjustments include the appointment of Liu Miao as the head of strategic investment management and the focus of former Vice President Ma Jun on international business expansion [2]. Group 3: Strategic Implications - The incentive plan is seen as a critical institutional arrangement in the company's strategic transformation, aimed at providing talent support for its dual-driven strategy of consolidating its main business and expanding into emerging sectors [1][2]. - Industry insiders believe that by binding the interests of the core team with the company's medium- to long-term goals, Haimer Technology is positioned to enhance operational efficiency and accelerate its layout in emerging fields [3].

Core Viewpoint - The company, Haimer Technology, has announced a restricted stock incentive plan for 2025, aiming to enhance organizational cohesion and strategic execution during its transformation process [1][2]. Group 1: Incentive Plan Details - The incentive plan will grant restricted stocks to no more than 107 management and key personnel, totaling up to 41.065 million shares [1]. - The lock-up period for the restricted stocks is divided into three phases: 12 months, 24 months, and 36 months from the completion of stock registration [1]. - The plan includes dual assessment targets that balance company development with individual value realization [1]. Group 2: Organizational and Personnel Adjustments - Concurrently with the stock incentive, the company has optimized its organizational structure and personnel arrangements, establishing a new M&A investment department to enhance professional capabilities in investment and due diligence [2]. - Key personnel changes include the appointment of Liu Miao as the head of strategic investment management and the focus of Ma Jun on international business development [2]. - The role of financial director has been taken over by the board secretary, Zhang Lei, to strengthen financial control and strategic investment synergy [2]. Group 3: Strategic Implications - The combination of stock incentives, organizational optimization, and personnel adjustments aims to build a long-term institutional framework that enhances governance and reflects management's confidence in future development [3]. - The company is expected to accelerate its layout in emerging fields while maintaining steady growth in its core high-end oil and gas equipment business [3].

Investment Rating - The report suggests a positive outlook for the high-end equipment manufacturing industry in China, emphasizing a "dual-driven" growth model characterized by strong domestic demand and robust international expansion [3][5]. Core Insights - The high-end equipment industry in China is experiencing a structural transformation, with a focus on technological advancements and brand development, leading to increased global market share [3]. - The report highlights two main investment themes: the technological self-reliance driven by AI and the deepening international expansion of Chinese equipment manufacturers [4][5]. - Key sectors to watch include gas turbines, industrial mother machines, controlled nuclear fusion, quantum computing, robotics, and 3D printing, which are expected to drive future growth [4][41]. Summary by Sections Domestic Manufacturing and Investment - Manufacturing investment in China is under short-term pressure, but high-end manufacturing and equipment sectors are emerging as growth engines, with a 1.9% year-on-year increase in manufacturing fixed asset investment [15][19]. - The report notes that high-tech manufacturing and equipment manufacturing sectors maintain high levels of activity despite overall investment slowdowns [15][22]. Export Performance - China's high-end equipment exports are performing well, driven by the global AI investment boom and recovery in demand from developed markets [28][31]. - In the first ten months of 2025, China's exports of electromechanical products reached 13.43 trillion yuan, marking an 8.7% year-on-year increase [28][31]. Technological Self-Reliance - The report emphasizes the importance of technological self-reliance, particularly in sectors like gas turbines and quantum computing, which are expected to see significant growth due to increasing global demand [4][48]. - The global gas turbine market is projected to grow significantly, with sales expected to rise from 44.1 GW in 2023 to an average of 60 GW from 2024 to 2026, reflecting a 36% increase [49][50]. International Expansion - Chinese equipment manufacturers are poised for further international growth, particularly in emerging markets, with sectors like engineering machinery and agricultural equipment expected to see substantial export growth [5][41]. - The report highlights the potential for Chinese companies in the oil and gas equipment sector, particularly in the Middle East, where demand is expected to rise significantly [5][13].

航天智造全资子公司航天模塑在汽车内外饰件领域具有产业布局、研发技术、客户资源与内部管理等明 显竞争优势，客户包括吉利汽车、长安汽车、一汽集团、广汽乘用车、奇瑞汽车、比亚迪汽车等多家国 内主流整车厂商及全球知名的汽车零部件一级供应商，与华为鸿蒙智行等新能源主流品牌建立了良好合 作关系。 "公司在持续关注国内商业航天领域的最新发展状况。"航天智造表示，公司实际控制人航天科技 （000901）集团已围绕商业航天等战略性新兴产业开展战略研究与规划布局。控股股东四川航天技术研 究院(简称"航天七院")作为航天科技集团旗下以航天为本的大型高科技企业集团，是我国航天重大装备 批生产基地、宇航产品研制生产基地和重要航天产品配套协作基地。航天七院部分所属企业已经向商业 航天相关企业供应相关航天产品。 目前，公司暂未参与商业航天相关项目，也未向相关企业供应产品。作为航天七院所属上市公司，未来 公司将持续关注商业航天产业发展动态，利用自身核心优势，发挥上市公司平台作用，努力寻求市场机 会，积极参与该行业。 航天智造（300446）12月25日接待了华夏基金、长城基金、太平养老基金及中银基金的调研。 航天智造2025年前三季度实现营 ...

德石股份12月25日在互动平台表示，公司高温螺杆钻具已广泛应用于新疆、四川等地油气开发的万米深 井的钻井工程中，公司是国内超深井钻井工程关键装备及工具的主要供应商。公司参加了11月的阿布扎 比石油展会，向客户推介了公司的产品及服务，达成了很多合作意向。 ...

"从洽谈到投产，项目服务人员每周上门对接，连员工宿舍都帮忙协调，这样的营商环境让我们安心扎 根。"江苏恒高电气制造有限公司董事长邓小冬欣喜地表示，今年投资10亿元建设智能车间增产扩能， 明年再创业绩新高。 恒高电气的厚积薄发，正是泰州市姜堰装备园区(白米镇)优化营商环境、壮大优势产业的生动写照。今 年以来，装备园区(白米镇)紧扣"勇立第一方阵、奋进百亿园区"目标，加快推动产业转型升级。 聚"链"成势，党建引领筑牢产业根基。以党建引领赋能项目建设，深入落实姜堰区"五全"招商机制，依 托油气装备、汽车零部件产业党建联盟，推动党政负责人AB岗招商、4支招商分队与链上党员骨干"结 对招商"，精准对接产业链上下游优质项目。发挥党建惠企优势，由党员招商专员牵头建立"签约项目— 落地建设—投产运营"全周期服务链，提前对接企业需求，通过"产业链联盟圆桌会"机制为10家企业解 决技术难题。今年以来，已成功新签约亿元以上项目12个，新开工亿元以上项目7个(其中5亿元项目2 个、15亿元项目1个)，新竣工亿元以上项目6个(其中5亿元项目2个)，为民营企业融入产业链、提升竞争 力提供坚实基础。 协"联"赋能，科技驱动助推智造转型。为 ...

科技成长攻守兼备，看好机械中盘蓝筹投资机会 20251222 摘要 反内卷政策推动行业现金流改善，通用设备和工程机械大型机型占比增 加，提升企业盈利能力，龙头企业有望保持较好增速。 预计 2026 年国内机械板块增速和盈利状况改善，下游需求恢复降低市 场风险，中盘蓝筹因市值适中、主业稳定且具成长性，投资潜力巨大。 锂电装备收入增速逐季改善，新签和在手订单大幅增长，新能源反内卷 优化下游格局，固态电池量产在即，设备需求强劲，主业状态良好且具 成长性。 工业母机产量与收入增速稳定，明年有望边际改善，船舶与航空航天需 求抵消汽车端压力，大型机型采购增加提升毛利率，国产替代空间巨大， 高端化发展可期。 预计明年油气装备需求改善，中国增加油气资本开支，美国推进油气开 发，数据中心对天然气需求增加，油气装备公司业务敞口扩大，需求与 成长性显著提升。 Q&A 2026 年机械行业的总体增长预期如何？ 对于 2026 年的机械行业，我们预期整体需求将保持平稳增长。在科技赋能和 政策支持的背景下，中盘蓝筹和机器人领域将成为核心投资主线。具体来看， 国内政策对机械板块的支持将使得龙头企业保持较好的增速。此外，从今年下 半年开始， ...

太平洋近日发布机械行业周报：本期（12月15日-12月19日），沪深300下降0.3%，机械板块下降1.7%， 在所有一级行业中排名28。细分行业看，塑料加工机械跌幅最小，下跌0.4%；油气装备跌幅最大，下 跌6.7%。 AI算力爆发催生液冷散热，关注液冷设备相关标的。 随着全球AI算力需求爆发式增长，传统风冷技术因散热效率低、能耗高、噪音大等问题，已难以满足 高功率芯片和超大规模数据中心的需求，而液冷技术凭借其高热传导效率、低能耗和静音优势，成为散 热领域的技术革新方向。当前，芯片功耗越来越高，如英伟达GB300的TDP功耗预计高达1400W，下一 代Rubin Ultra GPU功耗预计更高，因此需要更加高效的散热来保证芯片的稳定运行，采用液冷技术是大 势所趋。同时，从经济性的角度考虑，施耐德数据显示，在容量相同的数据中心，按每机架20kW和每 机架40kW的方式部署液冷，结果显示，采用液冷比传统风冷分别节省了10%和14%的投资成本。此 外，从政策端看，全球对数据中心PUE的要求日趋严格，以我国为例，国家发展改革委、工信部等部委 联合印发的《数据中心绿色低碳发展专项行动计划》明确提出，到2025年底，全 ...