11月24日，长江日报记者获悉，在近日举行的2025中国5G+工业互联网大会上，由武汉 高科集团参与发起设立的信科产业投资基金等项目完成集中签约，该产业投资基金总规模50 亿元，锚定"空天地海"一体化网络建设。 近年来，武汉高科集团与本地科技龙头企业持续深化战略协同，同长飞光纤、华工科技 合作设立CVC基金，聚焦量子通信、先进半导体、人工智能等未来产业，已投资中科酷 原、星钥半导体、长飞石英、长进光子、华日激光等一批产业链创新项目，并为东湖高新区 引入卓瓷科技、埃芯半导体等产业链项目，积极发挥了国资平台的引擎作用和撬动效应。 未来，武汉高科集团将持续加强多方联动，通过资源共享、优势互补，推动央企技术、 人才、项目与东湖高新区产业需求深度对接，努力将信科产业基金打造为央地协同、共赢发 展的"样板"。 编辑：胡之澜 据悉，信科产业基金由武汉高科集团联合中国信科集团、湖北省铁路基金、武汉基金共 同发起设立，依托中国信科集团旗下6家上市公司以及产业链上下游资源，融合央企产业优 势与地方资本效能，服务产业链"补链延链强链"。 在投资方向上，该基金以"空天地海"一体化通信网络建设为核心牵引，将聚焦光通信、 移动通信、光电 ...

在投资方向上，该基金以空天地海一体化通信网络建设为核心牵引，将聚焦中国信科集团六大核心产业板块光通信、移动通信、光电子和集成电路、 网信安全和特种通信、智能化应用以及数据通信，并前瞻布局人工智能、卫星互联网、量子通信、第六代移动通信（6G）等前沿领域，助力武汉打 造世界光通信产业中心。 论坛： 新一批敲钟人，已在路上 荐读： 重新发现香港：科创时代的新蓝图 榜单： 全国首只AIC产业母基金来了 热文： 投资人"忙疯了" 11月22日，2025中国5G+工业互联网大会在武汉开幕。开幕式现场，由武汉高科集团参与发起设立的信科产业投资基金等一批市州项目完成集中签 约。 来源：武汉高科集团 作为高科集团首支央企产业链基金，信科产业投资基金总规模50亿元，将为深化央地协同、推动武汉产业高质量发展再添"强引擎"。 信科产业基金由武汉高科集团联合中国信科集团、湖北省铁路基金、武汉基金共同发起设立，依托中国信科集团旗下6家上市公司以及产业链上下游 资源，融合央企产业优势与地方资本效能，服务产业链"补链、延链、强链"。 每日｜荐读 ...

2024年1至12月份，凌云光的营业收入构成为：机器视觉占比72.56%，光通信占比27.44%。 每经AI快讯，凌云光（SH 688400，收盘价：35元）11月23日晚间发布公告称，截至2025年11月21日， 公司通过上海证券交易所交易系统以集中竞价交易方式回购公司股份约31万股，占公司总股本约4.61亿 股的比例为0.0662%，回购成交的最高价为38.35元/股，最低价为28.49元/股，支付的资金总额为人民币 约1100万元。 截至发稿，凌云光市值为161亿元。 每经头条（nbdtoutiao）——"抛售日本"？GDP负增长，股市跳水，国债被抛，日元贬值！高市早苗"亡 命一搏"："灌水"21万亿！专家：恐赴"特拉斯风暴"后尘 （记者 曾健辉） ...

Group 1 - The core point of the article is that Lingyun Guang (SH 688400) held its 23rd meeting of the second board on November 19, 2025, to discuss the proposal for the issuance of A-shares to specific targets for the year 2024 [1] - For the fiscal year 2024, the revenue composition of Lingyun Guang is projected to be 72.56% from machine vision and 27.44% from optical communication [1] - As of the report, Lingyun Guang has a market capitalization of 16.8 billion yuan [1]

Group 1 - The market is experiencing a high volatility phase driven by three main factors: profit-taking by funds, weakening economic data, and declining remaining liquidity. The trend is shifting towards large-cap stocks [1][10][12] - The current market environment reflects a "time for space" approach, lacking event catalysts for immediate pricing adjustments. The degree of industry differentiation reached a 10-year high of 69% on October 9, but has since narrowed to 53% [2][21][27] - Market transaction volume has significantly decreased since September, with the average daily trading volume dropping from approximately 3 trillion yuan to 2 trillion yuan, indicating a divergence between price increases and trading activity [3][19][30] Group 2 - The "anti-involution bull market" is characterized by a shift in valuation models, with a focus on sectors with low earnings bases. Industries such as steel, new energy, and light industry are highlighted for their cost-effectiveness [4][27][40] - Investment direction should focus on supply-tight cyclical industries, including non-ferrous metals, steel, coal, and aquaculture, as well as identifying new core assets among high-quality large-cap growth companies [5][28][29]

Company Overview - Tongyu Communication (SZ 002792) announced on October 29 that its 28th meeting of the fifth board of directors was held on October 28, 2025, where the proposal for the fourth extraordinary shareholders' meeting of 2025 was reviewed [1] Financial Performance - For the first half of 2025, the revenue composition of Tongyu Communication was as follows: communication antennas and RF devices accounted for 97.15%, other products accounted for 1.17%, new energy cabinets accounted for 1.01%, and optical communication accounted for 0.67% [1] Market Capitalization - As of the report, Tongyu Communication's market capitalization was 10.2 billion yuan [1]

Core Viewpoint - The article highlights the active positioning of newly established equity funds in the third quarter of 2023, with a focus on sectors such as non-ferrous metals, humanoid robots, and computing power, amidst a recovering A-share market [2][4][10]. Group 1: Fund Performance and Strategy - A total of 111 newly established active equity funds reported an average stock position of 77.65%, indicating a neutral to slightly aggressive stance [4]. - The Q3 performance of several funds has been notable, with the Qianhai Kaiyuan Research-Driven Fund achieving a return of over 46% since its inception in June, focusing on growth sectors like AI and semiconductors [4][6]. - The Huashan High-End Equipment Fund, established in late May, reported a nearly 48% return, concentrating on robotics and computing power sectors [6]. - The Jiashi Growth Win Fund, launched in mid-June, recorded a return of approximately 47%, with a stock position of 92.55%, emphasizing growth areas such as AI computing chips and optical communication [8]. Group 2: Key Holdings and Sector Focus - The top holdings of the Qianhai Kaiyuan Fund include Huahong Semiconductor, SMIC, and Boke New Materials, with a stock position of 90.24% [4][5]. - The Huashan High-End Equipment Fund's major holdings are Ningde Times, Industrial Fulian, and Zhongheng Electric, with a stock position of 87.25% [6][7]. - The Jiashi Growth Win Fund's primary investments are in Zhongji Xuchuang, Haiguang Information, and Industrial Fulian, with a stock position of 92.55% [8][9]. Group 3: Market Trends and Insights - The A-share market showed a broad increase in Q3, with growth styles outperforming, particularly in sectors like semiconductors and humanoid robots [10]. - Fund managers are focusing on cyclical assets, with non-bank financials and non-ferrous metals being highlighted as favorable sectors due to their positive outlook [10][11]. - The demand for computing power is expected to grow steadily over the next 2-3 years, with significant investments in AI and new hardware anticipated to drive future growth [11].

Core Insights - Zhongke Chuangda Software Co., Ltd.'s subsidiary, Hangzhou Xiaowu Intelligent Co., Ltd., signed a strategic cooperation agreement with Zhichizhi Yuan, a brand under Zhongji Xuchuang, at the CeMAT AISA 2025 exhibition [1] - The collaboration aims to leverage each company's core strengths in robotics and optical communication to address the technological transformation demands of the AI era [1] - The partnership will focus on three core areas: robotics, smart vehicles, and high-end sensors, emphasizing "efficient collaboration through optical communication" for technological and product innovation [1] Company and Industry Summary - The strategic cooperation is positioned to create benchmark application scenarios in the optical communication industry, integrating cutting-edge technological innovation ecosystems [1] - The complementary capabilities of Zhongke Chuangda's robotics and automotive business with Zhichizhi Yuan's optical communication and perception capabilities are highlighted as a natural synergy [1] - The initiative is expected to contribute to the high-quality development of the global robotics industry [1]

Core Insights - The A-share market opened high and maintained a high-level fluctuation, with a slight increase in trading volume. The communication sector led the gains, while technology sectors such as batteries, robotics, and circuit boards experienced a general rebound [6][10]. Market Performance - The Shanghai Composite Index rose by 0.63%, the Shenzhen Component Index increased by 0.98%, the ChiNext Index surged by 1.98%, the SSE 50 Index gained 0.24%, the CSI 300 Index rose by 0.53%, the STAR 50 Index increased by 0.35%, and the CSI 1000 Index rose by 0.75%. The total market turnover was 1.75 trillion yuan, with 4,064 stocks rising [10][10]. Sector Performance - On October 20, 2025, within the primary sectors of A-shares, the telecommunications sector led with a gain of 3.15%, followed by coal (+2.96%), power and new energy equipment (+1.53%), and transportation (+1.40%). Conversely, sectors such as metal materials and mining (-0.99%), agricultural products (-0.87%), and banking (-0.13%) saw declines. Notably, concepts like cultivated diamonds (+13.43%), superhard materials (+9.59%), optical modules (+5.07%), and lithium battery electrolytes (+4.75%) led the gains, while gold jewelry, rare earths, nickel ore, and feed concepts declined [10][10]. Market Drivers - The market's upward movement was attributed to a temporary alleviation of overseas uncertainties, with a rebound in hard technology sectors. Notable gains were seen in computing hardware stocks such as optical modules and optical communications. A leading humanoid robot company secured a significant order exceeding 100 million yuan, boosting the robotics sector. Additionally, coal entered its seasonal peak, attracting capital inflows into defensive sectors like coal and natural gas. The emergence of the world's largest cultivated diamond in Henan also spurred a surge in related stocks [10][10]. Future Outlook - The report maintains a bullish outlook on the Chinese stock market, particularly for October, anticipating favorable policies following the 20th Central Committee's Fourth Plenary Session. The report supports the views outlined in previous strategies, emphasizing that the key macroeconomic theme for 2025 is "the liquidity of monetary policy." It expects a gradual recovery in the fundamentals, predicting a bullish market trend, drawing parallels with bull markets in 1999, 2014, and 2019 [10][10]. Investment Strategy - The report suggests focusing on the technology sector and value-oriented sectors that are gradually recovering. Specific areas of interest include: 1. Technology growth sectors, particularly "double innovation" and the Hang Seng Technology Index, with attention to lithium batteries, military industry, and Hong Kong internet stocks. 2. Value sectors, particularly those with consecutive increases in revenue growth and gross margins over the past two quarters, including fiberglass, cement, paper, fine chemicals, oil services, and medical services. 3. In the medium to long term, attention should be given to the non-bank sector within a slow bull market context [10][10].

Group 1 - The core point of the article is that Tongyu Communication (SZ 002792) held its 27th meeting of the fifth board of directors on September 26, 2025, to discuss the proposal for the re-election of members of the strategic committee [1] - For the first half of 2025, the revenue composition of Tongyu Communication is as follows: communication antennas and RF devices account for 97.15%, others account for 1.17%, new energy cabinets account for 1.01%, and optical communication accounts for 0.67% [1] - As of the time of reporting, the market capitalization of Tongyu Communication is 8.4 billion yuan [1]