与此同时，全国首个绿色算电协同产业基地在大会上宣布启动，全国一体化算力网算电协同国家试点项 目宣布正式通电并网运行，两种算电协同项目的启动在引领科技进步、带动产业升级、培育新质生产力 中将发挥重要战略作用。 7月12日，2025 绿色算力（人工智能）大会现场。 盛夏的内蒙古自治区首府呼和浩特，绿意盎然，生机勃勃。 7月12日，2025绿色算力（人工智能）大会在这里举行。 本次大会由呼和浩特市人民政府主办，中国信息通信研究院、内蒙古和林格尔新区管理委员会、呼和浩 特市大数据管理局共同承办。 大会以"共筑绿色算力大生态 共创人工智能新未来"为主题，旨在加快实施国家"东数西算"战略，持续 展示全国一体化算力网络内蒙古枢纽节点和林格尔数据中心集群的建设优势和成果，打造全国绿色算力 保障基地，构筑绿色算力大生态。 大会上，一系列重磅成果的发布，彰显呼和浩特在国家算力网络布局中的关键地位。其中，和林格尔集 群多云算力资源监测与调度平台正式宣布接入全国一体化算力网资源监测平台，加速推动算力并网、算 力池化、监测调度等工作，使内蒙古自治区成为全国首个实现省级算力网与国家算力网联通的省份。 转自：草原云 在完成与国家算力网接入 ...

策略研究 | 证券研究报告 — 点评报告 2025 年 7 月 13 日 策略点评 国产算力产业链贯通，行情催化在即 国产算力产业链"产业突破-业绩验证-需求验证"逻辑链条已逐步打通，产业 链行情正在迎来催化。 tianran.gao@bocichina.com 证券投资咨询业务证书编号：S1300522100001 ◼ 国产算力产业链"产业突破-业绩验证-需求验证"逻辑链条已逐步打通，产 业端，沐曦集成、摩尔线程两大国产 GPU 厂商科创板 IPO 获受理，填补 A 股全功能 GPU 空白，华为算力集群性能媲美英伟达，产业链重点公司 业绩来看，工业富联中报业绩创历史同期新高，需求端，国产大模型 Tokens 消耗量高速增长。国产 GPU 上市潮、硬件厂商业绩兑现与 AI 大 模型需求增长形成共振，国产算力产业从技术研发、商业落地到需求支撑 已进入高速增长周期，全产业链自主化进程提速，国产算力行情亦有望受 到催化，建议关注国产算力芯片、服务器、PCB、光通信厂商等。 ◼ 风险提示：1）政策落地不及预期，宏观经济波动超预期。2）市场波动风 险。3）海外经济超预期衰退、流动性风险。 策略点评 国产算力产业链"产业 ...

国家网络安全通报中心日前发布消息称，经国家计算机病毒应急处理中心检测，发现68款移动应用存在 违法违规收集使用个人信息的情况。中国证券报记者注意到，这些移动应用中，有2家券商机构APP在 列，涉及银泰证券和财达证券。 据了解，国家网络安全通报中心发布权威网络安全预警信息，传播网络安全防范知识技能。据该中心通 报，经国家计算机病毒应急处理中心检测，上述68款移动应用存在违法违规收集使用个人信息情况，检 测时间为2025年6月11日至7月1日。 被点名的68款移动应用共涉及13项违规行为。其中，有3种情形是"重灾区"：一是隐私政策未逐一列出 APP（包括委托的第三方或嵌入的第三方代码、插件）收集使用个人信息的目的、方式、范围等，共涉 及30款移动应用。 一是在APP首次运行时未通过弹窗等明显方式提示用户阅读隐私政策等收集使用规则；以默认选择同意 隐私政策等非明示方式征求用户同意；隐私政策难以访问；个人信息处理者在处理个人信息前，未以显 著方式、清晰易懂的语言真实、准确、完整地向个人告知个人信息处理者的名称或者姓名、联系方式、 个人信息的保存期限等。 二是个人信息处理者向其他个人信息处理者提供其处理的个人信息的，未 ...

7月10日，欧洲议会以523票支持、75票反对、14票弃权的压倒性多数通过了一项决议，严厉谴责中国对稀土出口实施限制。决议指出，中国的稀土出口管制 缺乏合理的正当理由，带有明显的胁迫性质，且强调中国在稀土领域几乎形成的"准垄断地位"赋予了其巨大的市场影响力和话语权。 自5月13日以来，美国针对中国的稀土问题展开了强硬态度。虽然两个月来的谈判有些许进展，比如在民用高科技领域的稀土出口有所放松，但美国稀土磁 铁制造企业依然抱怨审批效率低下，仅有3%的通过率，审批时间长达45天。不过，美国方面也得清楚，想把所有稀土产品都塞进申请里，还意图用这些产 品来满足军工需求，中国的监管并非看不见。 对此，中国驻欧盟代表团表达了强烈不满和坚决反对，明确敦促欧洲议会停止将贸易和经济问题政治化的做法，呼吁其回归理性和务实的合作态度，避免因 政治因素加剧贸易摩擦。 欧洲也开始效仿美国的策略。自5月13日以来，美国禁止华为昇腾芯片出口、限制中国留学生签证、禁用EDA软件和暂停对C919发动机的出口，虽然取得的 成果有限，但足以让欧洲眼红。于是，欧洲也开始出手，6月中旬针对中国电动车发起各种调查，并在6月20日宣布禁止中国企业参与价值超 ...

Core Insights - The rise of AI, exemplified by DeepSeek, presents a significant opportunity for value reassessment in China and a reshuffling of urban dynamics in the country [1][2] National Strategy - The Chinese government proposed a "three-step" strategy for AI development in 2017, aiming for a core industry scale of 1.5 trillion yuan by 2020, 4 trillion yuan by 2025, and 10 trillion yuan by 2030 [3] - As of September 2024, the core AI industry scale in China has reached nearly 600 billion yuan, surpassing the 2025 target by 150% [3][4] City Comparisons - Beijing is the undisputed leader in AI, holding over 30% of national resources in talent, patents, enterprises, and financing, with a core industry scale of 300 billion yuan, accounting for half of the national total [5][6] - Shanghai has established itself as a hub for integrated circuit industries and AI chip companies, focusing on the "chip" aspect of AI, while also leading in computing power infrastructure [10][12] - Shenzhen ranks third in AI-related enterprises, with a strong manufacturing base and major tech giants like Huawei and Tencent driving innovation and ecosystem development [12][15][16] - Hangzhou is emerging as a disruptor in the AI space, particularly with the launch of DeepSeek-R1, which has significantly impacted the global AI landscape [18][19][21] Emerging Players - The "Six Little Dragons" from Hangzhou, including DeepSeek and Yushu Technology, are gaining attention for their innovative AI solutions and market share [19][20] - Zhejiang University has contributed significantly to AI research, ranking just behind Tsinghua and Peking University in terms of AI publication output [20] Competitive Landscape - Other cities like Guangzhou, Suzhou, Hefei, and Xi'an are also exploring unique pathways to develop their AI industries, highlighting the competitive nature of China's economic landscape [23][24]

导读： 本次招中标数据统计中，共涵盖ICP-MS品牌6个，其中进口、国产品牌各占据3席，进口梯队包含安捷伦、珀金埃尔默、赛默飞，国产阵营包括谱育科技、 莱伯泰科、衡昇质谱。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 作为科学仪器的重要分支，质谱类仪器正在迎来新一轮的采购浪潮。此前仪器信息网曾对1955-2020年间国家重大科研平台启用的122561 台仪器设备进行统计分析，数据显示在服役超过10年的化学分析仪器中，质谱类设备占比最高。特别是2009-2014年间采购的质谱仪器，目 前已集中进入更新换代周期。 海关系统的仪器设备升级趋势同样显著。2024年启动的大规模设备更新计划中， 电感耦合等离子体质谱仪（ICP-MS） 因其高灵敏度、高通 量的技术优势，被海关系统列为重点采购设备，旨在提升进出口商品检测能力。 为帮助广大用户了解当前海关设备更新项目ICP-MS采购市场 现状，仪器信息网基于近半年中标数据，对ICP-MS设备采购情况进行汇总分析。 据中国政府采购网公开信息， 2024年11月至今，海关设备更新项目采购ICP-MS的中标 ...

7月4日，微博认证为"格力电器市场总监"的朱磊发微博称，"董明珠的影响力不来自于财富，来自于她所创造的财富。"发文配了一张董明珠出席两会时的 照片以及董明珠在任格力董事长期间纳税的金额和向股民的分红以及格力的专利数量。 董明珠15年来首次落榜《财富》女性榜引发关注。 《财富》杂志于近日发布了2025年中国最具影响力的商界女性榜单，立讯精密董事长王来春连续第三年位居榜首，华为副董事长孟女士、小鹏汽车总裁王 凤英、字节跳动首席财务官高准、宏胜饮料集团总裁宗馥莉、拼多多首席运营官顾娉娉等入选了该榜单，今年榜单最大的意外就是格力董事长董明珠15年 来首次落榜。 朱磊回应媒体称，微博发文确实是因为《财富》杂志榜单一事有感而发。并强调"《财富》杂志是第三方，有自己的评价体系，格力方面不在意这个事 情。"但不少网友评论称如果真不在意的话，都不会正面回应这个事。 近期的董明珠舆情较多，格力业绩也面临挑战，这次榜单依然引发了公众对格力的关注。 立讯精密王来春霸榜 开始于2010年的《财富》中国最具影响力的商界女性榜单，旨在呈现中国商界女性领导者的智慧、勇气、坚持与信心。也成为众多女性创业者的一大荣 耀。且每年评选的主题不同，今 ...

Group 1 - The report indicates that the external uncertainty from tariffs is expected to gradually spread, with the U.S. "reciprocal tariffs" 90-day deadline approaching, suggesting that most economies may struggle to resolve tariff issues within this timeframe [4][13][15] - The domestic policy is anticipated to remain proactive yet restrained, with the need to maintain sufficient policy space to address potential extreme risk scenarios while avoiding excessive short-term stimulus that could disrupt long-term goals [30][32][38] Group 2 - The report highlights that the improvement in domestic demand is a key driver for economic and corporate profit recovery, with expectations that consumer confidence will continue to rise due to the rebound in residents' income and wealth effects [77][78][83] - The real estate sector is showing signs of gradual recovery, with new home sales and land transaction data improving, indicating a potential positive impact on the overall economy [83][88][91] Group 3 - The report emphasizes that the capital market's liquidity remains high, with a significant number of stocks experiencing substantial gains, which has fostered a strong investment sentiment among individual investors [116][122][134] - The importance of the equity market is underscored by ongoing policy support aimed at enhancing residents' property income and maintaining market stability [136]

Core Viewpoint - The recent implementation of quantitative trading regulations aims to enhance the precision of high-frequency trading supervision and impose strict constraints on abnormal trading, reshaping the market ecology and promoting the standardized development of the quantitative industry [2] Group 1: Quantitative Long Strategy Performance - The article highlights the performance of quantitative long products in the first half of the year, focusing on those with assets under management exceeding 500 million [2] - The top-performing quantitative long products are categorized by strategies such as quantitative stock selection, CSI 500 index enhancement, CSI 1000 index enhancement, and CSI 300 index enhancement [2] Group 2: Quantitative Stock Selection - The quantitative stock selection strategy relies on mathematical models and statistical analysis to avoid subjective emotional interference, allowing for the processing of data from thousands of stocks [3] - As of June 30, 2025, the average excess return of 144 quantitative stock selection products was ***%, with the top three products being "Zeyuan Shen Sheng No. 7 A Class" from Shenzhen Zeyuan, "Jiuming Qianliang No. 1" from Jiuming Investment, and "Liangying Risheng Exclusive No. 1 A Class" from Liangying Investment [3][5] Group 3: CSI 500 Index Enhancement - The CSI 500 index enhancement products aim to seek additional returns beyond the index through quantitative methods [6] - As of June 30, 2025, the average excess return of 139 CSI 500 index enhancement products was ***%, with the top three being "Xinhong CSI 500 Index Enhancement No. 2 A Class" from Xinhong Tianhe, "Xiangmu Yongfu" from Xiangmu Asset, and "Abama Ruixue Fengnian Quantitative Selection" from Abama Investment [6][8] Group 4: CSI 1000 Index Enhancement - The CSI 1000 index enhancement products focus on actively managing investments to exceed the index benchmark [9] - As of June 30, 2025, the average excess return of 86 CSI 1000 index enhancement products was ***9%, with the top three being "Xiangmu Wangjiang No. 2" from Xiangmu Asset, "Anzi Geek CSI 1000 Enhancement No. 1 A Class" from Anzi Fund, and "Zizhu No. 2" from Tiange Investment [9][10] Group 5: CSI 300 Index Enhancement - The CSI 300 index enhancement products aim to achieve excess returns through quantitative stock selection and derivative tools [12] - As of June 30, 2025, the average excess return of 24 CSI 300 index enhancement products was ***%, with the top three being "Jiu Zhang Huan Fang CSI 300 Quantitative Multi-Strategy No. 1" from Ningbo Huan Fang, "Mingcong Stable Growth No. 2" from Mingcong Investment, and "Tote CSI 300 Index Enhancement No. 2" from Tote (Sanya) Private [12][16] Group 6: Other Index Enhancements - Other index enhancement products cater to high-net-worth individuals, including various indices such as the National Securities 2000, Sci-Tech Innovation Board Index, and others [17] - As of June 30, 2025, the average excess return of 52 other index enhancement products was ***%, with the top three being "Liangchuang Quantitative Beizheng Stock Selection No. 1 A Class" from Liangchuang Investment, "Shengguanda Stock Quantitative No. 2 C Class" from Shengguanda, and "Longqi Technology Innovation Selection No. 1 C Class" from Longqi Technology [17][20]

Group 1: AI Industry Development - The AI industry follows a "technology-hardware-terminal-application" development model, with a shift from communication networks to large model theoretical research[1] - Domestic chip manufacturers are accelerating technological breakthroughs, enhancing the application ecosystem, and driving the deep integration of generative AI across multiple industries[2] - The global large model technology is entering a deep competitive phase, with differentiated development paths between China and the US[2] Group 2: AI Chip and Hardware Investment - AI chips are the cornerstone of the large model industry, characterized by long R&D cycles, high technical barriers, and significant investment costs[2] - China has established a basic layout in GPU, ASIC, and FPGA chips, meeting standards for various application scenarios[2] - Investment opportunities exist in the AI industry chain, including optical modules, power distribution technology, and liquid cooling technology[2] Group 3: Market Trends and Opportunities - The domestic AI industry is experiencing a strategic transformation from "software-hardware decoupling" to "full-stack collaboration"[2] - The market for AI software ecosystems is still dominated by foreign open-source frameworks, but domestic companies are accelerating their AI ecosystem layout[2] - The procurement rate of domestic large models in key industries like finance and telecommunications has exceeded 45%[2] Group 4: Risks and Challenges - Risks include slower-than-expected technological iterations, industry growth rates, and potential policy risks[2] - The need for high-quality data and standards in model training remains a challenge for the domestic AI industry[2]