看一下科创板的特征和科创板本身的投资价值。我们可以看到这里列出一个图，是科创板主题的行业分布情况。用一句话概括，它就是聚焦硬科技、先进发 展的方向，特点特别明确。 数据来源：国泰基金；时间区间2022/12/30-2025/12/12；风险提示：指数过往业绩不代表未来表现 科创板已经上市和排队企业的主题分类数量占比，截至2025年12月12日 上图列出了科创板已经上市以及排队上市公司的上市主题分布。从行业分布视角来说，它主要聚焦于电子核心产业，包括生物医药，甚至是智能装备制造产 业都有较好的覆盖。也就是说，科创板的重要目标是服务于符合国家战略、突破关键核心技术、市场认可度较高的科技创新企业。它不仅覆盖了那些可能会 被海外"卡脖子"的领域，也重点关注那些硬科技、高成长的科技创新公司方向，这对于国家安全和先进生产力的发展方向都有非常高的相关性。 科创板投资价值的一个重要点在于其研发投入高、增长潜力大。高研发投入往往蕴藏着这部分企业背后非常大的增长潜力。下图是科创板、创业板和全部主 板的研发费用占整个公司营收的占比。我们可以看到红色的这条线预示着，从2020年到2024年年报的数据，科创板的研发费用占营收的占比都持 ...

证券代码：600498 证券简称：烽火通信 公告编号：2025-082 烽火通信科技股份有限公司 关于参与投资设立基金合伙企业 暨关联交易的公告 ● 本次交易构成关联交易，未构成重大资产重组；本议案无须提交股东大会审议。 ● 风险提示：由于烽火创业投资基金仍处于筹备设立阶段，后续尚需履行市场监督管理部门、基金业协 会等登记注册、备案等手续，存在不确定性。募资过程中可能因合伙人未能缴足认缴资金等客观原因， 导致实际各方缴付出资情况存在不确定性。在后期运营过程中，烽火创业投资基金所投资项目可能受到 宏观经济、产业政策、监管政策、行业周期、投资标的运营管理等多种因素影响，投资收益存在不确定 性。敬请广大投资者注意投资风险。 一、本次对外投资暨关联交易概述 1、2018年9月，经公司董事会审议批准，公司作为有限合伙人发起设立了武汉光谷烽火产业投资基金合 伙企业（有限合伙）（以下简称"烽火产业基金"）开展基金投资工作。烽火产业基金自2023年9月进入 回收期，后续将按照既定投资退出策略继续推进基金已投项目的退出工作。为了延续公司的基金投资工 作，持续通过基金投资帮助公司构建生态链、完善产业布局，公司拟参与设立烽火创业投 ...

格隆汇12月26日丨烽火通信(600498.SH)公布，公司拟与联通战新基金、光创一期基金、湖北省引导基 金、关联方光谷丰禾、关联方烽合广裕共同设立湖北烽火创业投资基金合伙企业（暂定名，最终以登记 机关核准登记的名称为准），主要围绕光通信、产业数字化、半导体及集成电路、电子核心产业等行业 投资布局，在全球范围新一代信息技术领域筛选、培育、扶持一批创新能力强的新一代信息技术企业， 有效配套烽火通信构建生态链，培育新业务。 ...

2025年度即将收官，12月IPO审核继续提速。12月22日—26日这周，沪深北交易所中，三瑞智能、新恒泰、福恩股份、普昂医疗、隆源股份、大 普微、视涯科技、盛龙股份、英氏控股9家企业被安排上会，单周9家企业首发上会再创年内新高。其中，英氏控股12月22日上会获得通过。从 募资额来看，拟募资金额最高的是闯关科创板的视涯科技，公司拟募集资金约20.15亿元。另外值得一提的是，将于12月25日上会的大普微，系 创业板首单未盈利企业IPO。除即将上会企业外，经同花顺iFinD统计，截至12月22日，12月已有17家IPO企业上会并获得通过。 | 序号 | 代码 = | T | 公司名称 ◆ T | 日期 : | Z | 审核委员 → | | --- | --- | --- | --- | --- | --- | --- | | ন | A06738.SZ | | 南昌三瑞智能科技 ... | 2025-12-26 | | 李岚,王靓,杨莉莉, ... | | 2 | A06743.BJ | | 浙江新恒泰新材料 ... | 2025-12-26 | | 杨超颖,耿晨晨,何 ... | | 3 | A06790.SZ ...

Group 1 - The core industries in the Sci-Tech Innovation Board are characterized by hard technology, with the electronic core industry (44.07%), biopharmaceutical industry (15.92%), and intelligent manufacturing equipment industry (9.15%) being the top three by market capitalization [1] - The demand for high-performance computing is resonating with the penetration of AI from the cloud to the edge, leading to an accelerated price increase in DDR4 and triggering a server upgrade cycle [1] - The innovative drug industry is expected to achieve breakthroughs through License-out overseas, with a projected transaction scale of $51.9 billion in 2024, indicating a continuous growth trend [1] Group 2 - Revenue growth rates for the electronic core industry, artificial intelligence industry, and biopharmaceutical industry in 2024 are projected to be 17.39%, 28.44%, and 32.36% respectively, with significant profit expectations for the biopharmaceutical industry [1] - The R&D intensity of the Sci-Tech Innovation Board remains stable at around 11%, with total R&D investment expected to reach 154.68 billion yuan in 2024, fostering a virtuous cycle of R&D-driven growth [1] Group 3 - The Sci-Tech Innovation Board 100 ETF (588120) tracks the Sci-Tech 100 Index (000698), which can have a daily price fluctuation of up to 20%. This index is compiled by China Securities Index Co., Ltd. and includes 100 securities with moderate market capitalization and good liquidity, reflecting the overall performance of outstanding growth enterprises in high-tech and strategic emerging industries [1] - The Sci-Tech Comprehensive Index ETF (589630) tracks the Sci-Tech Comprehensive Index (000680), also allowing for a daily price fluctuation of up to 20%. This index, published by the Shanghai Stock Exchange, selects all eligible listed companies on the Sci-Tech Innovation Board to reflect the overall market performance [2]

Economic Performance Highlights - The economic performance of Liaoning province in the first four months of the year shows significant growth in strategic emerging industries, accelerated high-end manufacturing, enhanced consumer demand, and improved green energy structure [1][2][3] - The value of invoices issued in the electronic core industry, advanced environmental industry, new energy vehicle-related facilities manufacturing, internet and cloud computing, big data services, and marine engineering equipment industries increased by 37.7%, 26.5%, 24.4%, 23.5%, and 17% year-on-year, respectively [1] Manufacturing Sector Developments - The high-end manufacturing sector is advancing rapidly, with invoice amounts for medical instruments and equipment manufacturing, as well as aerospace and equipment manufacturing, increasing by 13.6% and 1.2% year-on-year [2] - Neusoft Medical Systems Co., Ltd. reported a year-on-year increase of over 30% in invoice amounts [2] Consumer Market Trends - The consumer market is experiencing a rise in enthusiasm, with invoice amounts for home audio-visual equipment retail and daily household appliances retail increasing by 45.6% and 44.7% year-on-year, respectively [2] - The overall consumer sector (excluding housing consumption) saw a year-on-year increase of 6.4%, contributing to a 0.6% growth in total invoice amounts for the province [2] Green Energy Initiatives - Liaoning province is committed to a high-quality development path focused on ecological priority and green low-carbon transformation, with a gradual formation of a green industry system [3] - The invoice amounts for clean energy generation (nuclear, hydro, solar, wind, and biomass) grew at a rate 2.3 percentage points higher than that of thermal power generation, accounting for 35.7% of total power generation invoice amounts, exceeding the national average by 4.0 percentage points [3]