Group 1 - The core viewpoint of the article highlights the performance of various funds, with defense and military-themed funds leading the market, while TMT and gold ETFs see increased investment [4] - The article notes that the stock index funds have risen by 1.76%, and the defense and military-themed funds have increased by 4.46%, indicating strong sector performance [4] - It mentions that the steel sector's profitability is expected to recover to historical average levels, suggesting potential investment opportunities in steel stocks [4] Group 2 - In the new materials sector, the price of praseodymium and neodymium oxide has risen for two consecutive weeks, indicating a growing demand in the new energy vehicle market [5] - Lithium prices have dropped below 80,000 yuan/ton, with potential for accelerated capacity exit, suggesting a focus on cost-advantaged lithium mining companies [5] - The Democratic Republic of Congo's decision to suspend cobalt exports for four months may alleviate global cobalt market oversupply [5] Group 3 - The life sciences sector is seeing a trend towards domestic substitution for high-end reagents, driven by global tariff policy changes and supply chain security concerns [6] - Merck Life Science has announced a temporary surcharge on orders from China due to rising costs, reflecting the industry's challenges [6] Group 4 - China Unicom is positioned as a national team in digital information services, with its cloud business expected to become a second growth curve [7] - The company has a stable dividend yield, averaging over 6% in the past five years, indicating strong financial stability [7] - As one of the three major state-owned telecom operators, China Unicom has certain advantages in data center resources in core cities [7] Group 5 - Hillstone Technology is optimizing its product structure through the acquisition of TDK's micro-motor business, which includes over 2,000 patents and a skilled R&D team [8] - The acquisition is expected to enhance the company's capabilities across the entire supply chain [8] Group 6 - Huahong Semiconductor reported Q1 2025 revenue of $541 million, a year-on-year increase of 17.6%, aligning with the company's guidance [9] - The revenue from 8-inch wafers was $230 million, down 4% year-on-year, while 12-inch wafers saw a 41% increase to $310 million [9]

（原标题：光大证券：丘钛科技(01478)收购TDK微型马达资产业务 维持"买入"评级） 控股股东与日本TDK签署框架协议，收购微型马达资产业务 公司摄像模组全链条垂直整合能力进一步加强，打开摄像模组长期盈利能力提升空间 公司和控股股东长期重视摄像模组全链条垂直整合，涵盖上游光学元器件、算法、设备，中游光学模 组，再到下游模块、整机。部分收购会先由控股股东推进，在合规及合适的条件下，控股股东可能会将 收购整合的资产注入到公司，目前尚未有将TDK微型马达资产业务注入公司的时间表。公司在21年初 就提出"阿波罗"计划，通过联营公司新钜科技和控股股东关联方资源和能力，推进摄像模组核心元器件 一体化垂直整合。该行认为，通过关键元器件公司内部自供或控股股东关联方供应，将有助于改善成本 结构、更好发挥技术协同效应，打开摄像模组长期盈利能力提升空间。 1-4月摄像模组出货量产品结构同比大幅优化，指纹识别模组出货量高速增长 摄像模组方面，1-4月出货量同比下降16.5%，其中32MP及以上摄像头模组出货量占比同比上升9.1pct至 56.5%，产品结构同比大幅优化。受益于手机光学延续规格升级趋势：1)潜望式模组下沉至中高端机 ...