Core Viewpoint - HeXin Instruments (688622.SH) is restructuring to enter the quantum computing sector, aiming to overcome challenges in its core business, which has been under pressure due to market conditions and declining demand [1][4]. Group 1: Restructuring Details - HeXin Instruments plans to acquire 56% of Shanghai Liangxi Technology Co., Ltd. for approximately 384 million yuan, with a total valuation of Liangxi Technology at 686 million yuan, reflecting a significant premium of 1083.71% [1][2]. - The acquisition will be financed through a combination of cash and stock, with up to 246 million yuan raised from specific investors to support the transaction and improve liquidity [2][3]. - Post-acquisition, Liangxi Technology will become a subsidiary of HeXin Instruments, enhancing its product offerings in high-end scientific instruments [3][6]. Group 2: Financial Performance - HeXin Instruments reported a revenue of 52.82 million yuan in the first half of 2025, a decline of 48.88% year-on-year, with a net loss of 17.46 million yuan, although this represents a reduction in losses by 20.86% compared to the previous year [1][4]. - The company has experienced continuous losses over the past three and a half years, with cumulative net losses amounting to approximately 222 million yuan [5]. - In contrast, Liangxi Technology demonstrated stronger profitability, with revenues of 26.79 million yuan, 74.35 million yuan, and 70.80 million yuan from 2023 to the first half of 2025, and net profits of 0.20 million yuan, 2.20 million yuan, and 2.81 million yuan during the same period [6]. Group 3: Performance Commitments - The transaction includes performance commitments from Liangxi Technology, ensuring net profits of no less than 35 million yuan, 50 million yuan, and 65 million yuan for the years 2025 to 2027, with a cumulative target of at least 150 million yuan [3][4]. - If the cumulative net profit falls between 90% and 100% of the target, the performance guarantors will not be obligated to compensate for the shortfall [4].

Core Viewpoint - Beijing has launched an action plan for the innovation and development of high-end scientific instruments, aiming to enhance independent innovation capabilities and cultivate leading enterprises by 2027, establishing a "1+3" industrial pattern and creating a technology source and industrial cluster [1][2]. Summary by Sections Action Plan Goals - By 2027, Beijing aims to improve its independent innovation capabilities in high-end scientific instruments, developing over 50 complete products and breaking through more than 30 key components. The plan also includes establishing recognized technical standards and attracting top scientists and engineers [3]. Industrial Cluster Development - The plan targets the cultivation of approximately 2 leading enterprises with annual revenues exceeding 3 billion yuan, over 30 enterprises with revenues exceeding 100 million yuan, more than 80 specialized and innovative enterprises, and over 200 national high-tech enterprises. The focus is on creating a collaborative "1+3" industrial pattern in Huairou, Haidian, Changping, and the Beijing Economic-Technological Development Area [3]. Ecosystem Improvement - The action plan emphasizes the establishment of service platforms for precision processing, verification, and pilot testing, along with the development of typical instrument libraries and specialized software. The goal is to enhance the self-control level of the industrial and supply chains and improve the international competitiveness of the high-end scientific instrument industry [3].

Group 1 - The core viewpoint of the news is the establishment of the "Beijing High-end Scientific Instrument Innovation Development Action Plan (2025-2027)" aimed at enhancing the innovation, industrial aggregation, service capabilities, and application promotion of high-end scientific instruments in Beijing by 2027 [1][2] Group 2 - The action plan outlines three main goals: first, to improve the independent innovation capability of high-end scientific instruments, aiming to develop over 50 complete products and break through more than 30 key components by 2027 [2] - The second goal focuses on significantly enhancing industrial aggregation, with targets to cultivate around 2 leading enterprises with annual revenues exceeding 3 billion yuan, over 30 enterprises with revenues exceeding 100 million yuan, and more than 80 specialized and innovative enterprises [2] - The third goal is to improve the instrument industry ecosystem by establishing several service platforms for precision processing, verification, and pilot testing, as well as developing typical instrument libraries and specialized software [2]

Core Viewpoint - The article discusses the "Beijing High-end Scientific Instrument Innovation Development Action Plan (2025-2027)", which aims to position Beijing as a national and global hub for high-end scientific instrument innovation through policy guidance and technological breakthroughs [2][27]. Group 1: Key Policy Signals - The plan emphasizes three core signals: technological breakthroughs, market expansion, and ecological collaboration [2][3]. Group 2: Key Policy Dividends and Manufacturer Action Guidelines 1. Technological Breakthroughs - The policy focuses on overcoming over ten critical common technologies, developing over 50 complete products and 30 key components [4]. - It encourages the integration of artificial intelligence with scientific instruments to create cutting-edge devices [4]. - A "1+3" industrial structure is proposed to link technological breakthroughs with industrialization [4]. Manufacturer Action Suggestions - Engage in the "reveal and take charge" mechanism to collaborate with universities on key component R&D projects [5]. - Develop AI-enabled products for high-throughput screening and intelligent data processing [5]. - Focus on niche areas such as life sciences and materials science to build competitive advantages [5]. 2. Market Expansion - The policy promotes pilot applications in various fields, including food safety and environmental monitoring [6]. - It encourages universities and research institutions to prioritize the procurement of domestic instruments [6][9]. Manufacturer Action Suggestions - Collaborate with key users to develop customized solutions for specific applications [8]. - Leverage government procurement projects to introduce new products to the market [9]. - Build an integrated ecosystem with reagent and consumable suppliers [9]. 3. Ecological Collaboration - The plan aims to cultivate two leading enterprises with annual revenues exceeding 3 billion and 30 enterprises with revenues over 100 million [10]. - It emphasizes the establishment of pilot platforms for testing and validation to shorten the R&D cycle [11]. Manufacturer Action Suggestions - Strengthen supply chain integration through mergers or partnerships [13]. - Utilize pilot platforms to accelerate mass production [13]. - Participate in regional collaboration within the Beijing-Tianjin-Hebei area [13]. 4. Capital and Policy Support - The establishment of an investment fund for advanced manufacturing and intelligent equipment is highlighted [14]. - The plan aims to provide specialized services for eligible enterprises, including listing guidance and tax incentives [15]. Manufacturer Action Suggestions - Seek government industry funds and engage in capital operations [17]. - Participate in standard-setting to enhance industry influence [18]. Group 3: Development Goals - By 2027, the plan aims to enhance the autonomous innovation, industrial clustering, and application promotion capabilities of high-end scientific instruments in Beijing [28]. - The goal includes developing over 50 complete products and breaking through 30 key components [28]. Group 4: Key Tasks - Focus on overcoming core technologies and developing high-end scientific instruments [30]. - Establish a technology innovation center to facilitate the transformation of research outcomes [33]. - Promote application trials in key sectors such as life sciences and materials science [34][35]. Group 5: Support Measures - The plan emphasizes organizational support and policy backing to ensure the successful implementation of the action plan [40][41]. - It aims to strengthen talent support through various initiatives to cultivate a skilled workforce in the scientific instrument sector [42].

Group 1 - The core point of the article is that Fuhuang Steel Structure plans to acquire Hefei Zhongke Junda Vision Technology Co., Ltd., marking its entry into the high-end precision scientific instrument sector [1] - Zhongke Vision possesses fully independent intellectual property rights for its "Thousand-Eye Wolf" high-speed camera and core products related to three-dimensional motion measurement, precision deformation morphology measurement, and dynamic fluid flow field measurement [1] - The company has accumulated 253 patents and its products are applied in research, aerospace, and high-end manufacturing, with exports to countries such as Germany, France, and Southeast Asia [1] Group 2 - The acquisition signifies a strategic diversification for Fuhuang Steel Structure into a market segment that currently lacks comparable listed companies in the A-share market [1] - This move highlights the company's ambition to expand its business portfolio and tap into the growing demand for high-end scientific instruments [1]