以下文章来源于泽平宏观商学 ，作者泽平宏观商学 泽平宏观商学 . 前沿科技企业实战研学 读万卷书行万里路 年研学安 型成 2025 年 12 月 用心打造最有品质的实战研学。读万卷书，行万里路。把教室搬到世界上最优秀的企业， 请最优秀的企业家和科学家讲课。顺势而为，把握机遇。正心正念，坚持做长期正确的 事！ 我们期待与更多的企业家朋友们携手同行，共赴 2026 实战研学之旅！ 泽 ZEP 平 INGM 宏 ACR 观 O RE 商 SEAR 学 CH 1-6月日程安排 · 2月27日 北京 国内头部智驾科技企业 人形机器人 贵州 茅台一日无界 品品鲜智能工厂、遵义会址 织金打鸡洞 11月4日-11日 洛杉矶、拉斯维加斯、旧金山 CES、英伟达、特斯拉 谷歌、罗宾汉、playground 斯坦福大学、伯克利大学 3月27日-28日 苏州 追觅科技、魔法原子、灵猴机器人 闭门投研会-2026 Al 的中国力量(一) 3月29日 上海 长三角校友会 4月20日-21日 香港 2026 香港 Web3 嘉年华 复星财富、HashKey、港交所 5月22日-23日 1151 11:47:50 深圳 华为、新凯来、江波龙 ...

报告显示，61%的受访高净值人群经常使用小红书获取信息，比抖音高出13个百分点。32%的高净值人群经常看微信视频号，24%经常看哔哩哔哩。东方 财富网、知乎的热情度均超过20%，同花顺和万得Wind获得14%的热情度。 分年 龄 段来看，超过70%的U25 （25岁及以下） 将小红书和抖音作为最常用的 信息获取平台，U40 （36至40岁） 和45岁以 上高净值人群更青睐使用视 频号。东方财富网、万得Wind、同花顺等专业投资软件的受众则以U35 （31至35岁） 、U40 （36至40岁） 居多。 任泽平（17%）位列 高净值人群最常关注的财经博主前三，专业财经领域领先。 胡润研究院1月30日发布《2026胡润至尚优品——中国高净值人群品质生活报告》（Hurun Chinese Luxury Consumer Survey & Hurun Best of the Best Awards 2026）（以下简称报告）。 受访高净值人群最常用的AI助理是DeepSeek和豆包。分年龄段来看，U25最常使用的是ChatGPT，U30 （26至30岁） 、U35 （31至35岁） 、U40 （36至 40岁） 、U4 ...

文 泽平宏观团队 过去四十多年，中国经济增长创造了举世瞩目的奇迹。 百年未有之大变局， 也是 百年未有之大机遇。 我们正处在新周期，新趋势，新机遇。 于无声处听惊雷。中国经济运行的深层 次逻辑正在发生系统而深远的改变 ， GDP 总量 快速接近第一大经济体， 作为全球经济增长的最大引擎，近几年对全球经济增长的贡献超过 30%， 人均 GDP 接近高收入国家门槛， 新基建、新经济、新动能蓬勃发展，硬科技实力持 续提升，拥有全球最大的统一市场，拥有全球最完备制造业产业体系，人口红利转向工程师红 利，中国企业出海空间巨大。 我们必须以新视野来看未来。 随着 GPT 、 DeepSeek 等大模型参数规模从千亿迈向万亿级别， AI 正在快速改变世 界，奇点时刻到来，全球算力竞赛打响。 AI算力 竞赛的背后是能源战争，未来随着 AI 超级 应用和算力大爆发，需要新的能源技术突破才能满足未来巨大的需求。 而中国算力总规模和智能算力规模暂居全球第二，能源基建举世第一，在新一轮争夺 AI 算力制高点的竞赛中是当之无愧的主角。 我赴美考察后提出：AI不是风口，是海啸。 根据 IMF 研究，我国经济增长的溢出效应明显，经济增长 ...

Core Viewpoint - The article emphasizes the importance of advanced technology companies in redefining modern life and driving economic growth, particularly in the fields of AI, robotics, and smart living ecosystems [8][14]. Company Summaries Chasing Technology - Founded in 2017, Chasing Technology focuses on high-speed digital motors, intelligent algorithms, and motion control technology, believing that "core technology is fundamental." By December 2025, it aims to have over 8,000 patent applications and more than 3,000 authorized patents, establishing itself as a global leader in the smart cleaning sector [4][19]. Magic Atom - Established in 2024, Magic Atom is one of the few companies in China with full-stack self-research capabilities for humanoid robots, boasting a hardware self-research rate exceeding 90%. It emphasizes commercial viability and has initiated the "Thousand Scenes Co-Creation Plan" to refine robots in real-world settings, accelerating the transformation of technology into new productive forces [5][20]. Monkey Robotics - Founded in 2015, Monkey Robotics is a core component supplier in the smart manufacturing sector, specializing in machine vision, direct-drive motors, and industrial robots. It aims to expand into the embodied intelligence sector by offering a one-stop ODM service for intelligent systems, supported by a comprehensive management system and flexible production capabilities [7][21]. Event Overview - The article outlines a series of events scheduled for March 26-28, including a keynote speech by Dr. Ren Zeping focusing on AI and robotics, and visits to companies like Chasing Technology, Magic Atom, and Monkey Robotics, aimed at exploring opportunities in smart technology and industry upgrades [10][22]. Key Topics of Discussion - The closed-door investment research meeting will cover topics such as the implementation of service robots driven by AI models, breakthroughs in key components for humanoid robots, and investment logic in the robotics industry, focusing on companies with strategic advantages [17][18].

Financial Data and Key Metrics Changes - Comparable FFO for 2025 was $2.32 per share, slightly higher than 2024 and better than anticipated [23] - Fourth quarter comparable FFO was $0.55 per share, down from $0.61 per share in Q4 2024, primarily due to higher net interest expense and lease termination income from the previous year [24] - Company same-store GAAP NOI increased by 5% for the quarter, while same-store cash NOI decreased by 8.3% [24] Business Line Data and Key Metrics Changes - In 2025, the company leased 4.6 million sq ft of office space, with 3.7 million sq ft in Manhattan, marking the highest Manhattan leasing volume in over a decade [6] - Average starting rents in Manhattan were $98 per sq ft, with marked markets showing +10.4% GAAP and +7.8% cash [7] - Office occupancy rose from 88.8% to 91.2% [11] Market Data and Key Metrics Changes - The New York office market is experiencing a tightening landlords market, with robust tenant demand from finance, tech, and other industries [4] - The financing markets for class A assets are strong, with CMBS spreads at their tightest since 2021 [26] - The company has a liquidity of $2.39 billion, including cash balances of $978 million and undrawn credit lines of $1.41 billion [20] Company Strategy and Development Direction - The company is focused on its Manhattan-centric office strategy, with significant developments planned, including 350 Park Avenue and 623 Fifth Avenue [5][14] - The company aims to create high-quality office spaces and enhance its retail offerings in the Penn District [13][19] - The management team is committed to maintaining a cash-heavy balance sheet while exploring stock buybacks due to perceived undervaluation [21][22] Management's Comments on Operating Environment and Future Outlook - Management believes the current fundamentals in Manhattan are the best in 20 years, with expectations for continued tightening in the landlords market [4] - The company anticipates significant earnings growth in 2027 as the positive impact from PENN 1 and PENN 2 lease uptakes materializes [25] - Management acknowledges the disconnect between stock price and asset value, viewing it as a potential buying opportunity [22] Other Important Information - The company has extended maturities on nearly $3.5 billion of debt through 2031 and has been active in refinancing to bolster liquidity [27][28] - The company is planning to develop a 475-unit rental residential building and enhance retail offerings along 34th Street [18] Q&A Session Summary Question: Changes in the structure of 350 Park Avenue - Management confirmed that there were amendments related to the overall deal, allowing for flexibility in equity percentage [30] Question: Overall leasing pipeline and tenant conversations - The leasing pipeline remains strong, with over half of the activity from new tenants and significant expansions from financial services and tech sectors [34] Question: Share buybacks and asset dispositions - Management expressed strong interest in pursuing share buybacks, viewing the stock as undervalued [35] Question: Difference between cash and GAAP same-store NOI - Management indicated that the inflection point for cash NOI turning positive is expected in the second half of 2026 [37] Question: Retail market performance on Upper Fifth Avenue - The retail market is improving but still struggling to meet top rents from four or five years ago [39] Question: GAAP occupancy and lease occupancy differences - Management clarified that the $200 million difference is not annualized and will be recognized as tenants build out their spaces [40]

Core Insights - The JEDEC Board of Directors awarded the 2026 Distinguished Executive Leadership Award to Antonio Neri, President and CEO of HPE, recognizing his significant contributions to the electronics industry and JEDEC standards [1][2] Group 1: Award Recognition - The award is JEDEC's highest honor, acknowledging senior executives who promote and support the advancement of JEDEC standards [1] - Antonio Neri has been recognized for his exceptional dedication to standards development initiatives over more than a decade [2] Group 2: HPE's Transformation - Under Neri's leadership since February 2018, HPE has transformed from a legacy hardware provider to a key player in the AI era [2] - HPE is positioned at the forefront of generative and agentic AI, helping customers optimize operational performance and transform data into actionable insights [2] Group 3: JEDEC Overview - JEDEC is the global leader in developing standards for the microelectronics industry, with over 380 member companies collaborating in more than 100 committees [3] - The standards and publications generated by JEDEC are widely accepted and available for download from their website [3]

Vornado Realty Trust (NYSE:VNO) Q4 2025 Earnings call February 10, 2026 10:00 AM ET Speaker11Good morning, and welcome to the Vornado Realty Trust fourth quarter 2025 earnings call. My name is Nick, and I will be your operator for today's call. This call is being recorded for replay purposes. All lines are in a listen-only mode. Our speakers will address your questions at the end of the presentation during the question-and-answer session. At that time, please press Star, then one on your touchtone phone. I ...

Keysight Enables Enterprise-Scale AI Adoption in Semiconductor Design with SOS EnterpriseFeb 10, 2026 11:00 AM Eastern Standard Time# Keysight Enables Enterprise-Scale AI Adoption in Semiconductor Design with SOS EnterpriseShare---Software automates engineering data governance and traceability across distributed organizations to accelerate AI integrationSOS Enterprise offers enterprisegrade engineering data management with builtin governance and traceability.SANTA ROSA, Calif.--([BUSINESS WIRE])-- [Keysight ...

Project supports the green transition of one of the most challenging sectors to decarbonizeLONDON and FREDERICIA, Denmark and VANCOUVER, British Columbia, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Exolum, Methanex Corporation (TSX: MX) (Nasdaq: MEOH) and Ørsted, today announced the launch of the United Kingdom’s (U.K.) first commercially ready biomethanol storage and supply service for shipping at the Port of Immingham. The Port of Immingham is the U.K.’s largest port by cargo volume and a critical gateway for ener ...

Ferrari N.V. ( RACE ) reported its Q4 2025 earnings , and, after months of decline, the stock is finally seeing a strong 10% move higher at the time of writing. Since October, Ferrari's shareholders have been tested in a way that has never happenedI’m a long-term investor focused on U.S. and European equities, with a dual emphasis on undervalued growth stocks and high-quality dividend growers. Through years of experience, I’ve learned that sustained profitability—evident in strong margins, stable and expand ...