Core Viewpoint - Hexpol has invested over 15 billion yuan in China since entering the polyurethane market in the early 1990s, establishing a production network across major cities and focusing on the growing opportunities in the electric vehicle sector [1][4]. Group 1: Business Overview - Hexpol is a global specialty chemicals company headquartered in the United States and was one of the first foreign enterprises to enter the Chinese market [1]. - The company has three main divisions in China: polyurethane, advanced materials, and functional products, with the polyurethane division accounting for approximately two-thirds of its revenue [1]. Group 2: Market Opportunities - The company anticipates an increase in polyurethane usage in electric vehicles, estimating an additional 5 to 9 kilograms per vehicle due to new applications such as sunroof edge sealing materials [1]. - Hexpol is focusing on the development of materials that enhance battery pack impact resistance and thermal management capabilities in response to new automotive battery regulations set to be implemented in July 2026 [2]. Group 3: Strategic Focus - Hexpol's polyurethane division is concentrating on three key areas: electric vehicles, new energy buildings, and consumer product upgrades, while moving away from lower-margin bulk MDI polyurethane markets [2]. - The company is also addressing the "range anxiety" issue in electric vehicles by developing advanced materials that can handle the increased heat generated by fast-charging systems [2]. Group 4: Innovation and Collaboration - Hexpol is leveraging its aerospace material technology and traditional automotive experience to provide solutions for low-altitude flying vehicles, which presents significant opportunities aligned with the company's localization strategy [3]. - The company is enhancing local production capabilities and establishing a collaborative network across the Asia-Pacific region to introduce cutting-edge technologies and innovations [3][4]. Group 5: Future Plans - Hexpol aims to strengthen its Asia-Pacific strategy by optimizing regional production capacity and upgrading its digital supply chain to create an agile and efficient response system [4]. - The company plans to accelerate breakthroughs in green materials technology and leverage China as the core engine for its Asia-Pacific headquarters and R&D hub [4].

据悉，宁夏先后开展枸杞基因组学、功效物质提取、栽培机理等基础研究，构建了枸杞高密度遗传连锁 图谱，建立了枸杞化合物数据库。为确保新品种培育取得新成效，宁夏创建了保存2000余份种质材料的 枸杞种质资源库，构建了枸杞资源圃、种子低温库和标本库"三位一体"保存体系。目前，"宁杞"系列枸 杞良种覆盖中国所有枸杞产区，占全国枸杞主栽品种的90%以上。 在关键领域，宁夏开展了枸杞种质资源收集与精准评价、枸杞重大害虫生态调控关键技术研究与示范、 枸杞原浆标准体系构建及功能性产品开发、养眼抗衰枸杞产品创制、枸杞根腐病菌拮抗菌及相关微生物 群落研究、枸杞蚜虫寄生性天敌昆虫资源挖掘与利用等系列研究。 研究中，筛选出杀虫作用明显的微生物菌株3个，研发植物源新制剂2个，枸杞害虫综合防治效果达 85.59%，化学农药减量30.92%。同时，科研工作中还筛选发现了以枸杞子为主要原料用于防治年龄相 关性黄斑变性的有效组方杞菊方，突破了枸杞汁发酵护肝等功能产品加工技术，开发出一批机理明确、 功能定向、活性成分提取工艺成熟的抗抑郁、抗疲劳、增强免疫力等枸杞新功能产品。 与此同时，依托东西部科技合作机制，宁夏先后引进集聚南京中医药大学、南京理 ...

海格通信 20250508 • 海格通信军工主业在 2025 年保持领先，虽 2024 年采购承压，但 2025 年初订单已现回暖。全面修复需时，利润实现是关键。投资者需关注订单 修复情况，这直接影响公司军工板块的营收和盈利能力。 • 公司通过引入中国移动，加强双方绑定，推进卫星芯片项目，为智能手机 和车联网领域奠定基础，预计 2026-2027 年显著推动公司成长。与中国 移动的合作深度和项目进展是关键观察点。 • 海格通信积极布局海外市场，受益于国际事件催化，有望加速低空及卫星 通信业务拓展。关注中印、中巴摩擦等国际事件对公司海外订单的实际影 响。 • 卫星互联网发展对海格终端侧业务影响重大，预计 2026 年下半年低轨卫 星组网加速，公司将全面受益。需密切关注低轨卫星组网进度，及其对公 司终端产品需求带来的潜在增长。 • 公司北斗相关业务受益于北三组网完成，重点关注与手机厂商、运营商及 整车厂商的商业合作进展。商业合作的突破将直接提升北斗相关产品的市 场渗透率和盈利能力。 Q&A 海格通信在民用业务方面的拓展有哪些具体方向和市场潜力？ 海格通信未来的民用业务主要集中在北斗卫星导航系统和低轨卫星星座两个方 ...

关于中国科技自主的投资方向，高盛建议首选： 高盛中国韧性科技指数(GSCBCRTE指数)——稳健科技 地平线机器人(Horizon Robotics)：软硬件全栈能力可通过向高端驾驶功能的产品升级，进一步巩固其市 场领先地位。 小马智行(Pony AI)：4月2日宣布与腾讯建立战略合作伙伴关系，聚焦L4级自动驾驶技术研发及Robotaxi 大规模商业化。 北方华创(Naura)：昨日公布收入同比增长40%，超预期/市场共识，得益于中国晶圆厂/IDM客户的资本 支出增加，以及公司产品扩展至核心半导体制造工艺。 金山办公(Kingsoft Office)：昨晚因客户端本地软件支出疲软导致收入不及预期，但高盛仍认为其是生成 式AI应用的早期受益者，AI变现已从B端和C端客户同步启动。公司宣布了一项为期5年的分销渠道战 略，通过提升销售、服务和客户留存率，加速企业级AI办公软件增长。 高盛中国科技自主指数(GSCBCSST指数)——无美国敞口 个股： 地平线机器人(Horizon Robotics)、小马智行(Pony AI)、北方华创（002371）(Naura)、金山办公(Kingsoft Office)、国电南 ...