格隆汇12月30日丨博盈特焊(301468.SZ)在互动平台表示，公司产品暂未应用于纯氢燃气轮机。公司生 产的HRSG作为燃气-蒸汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃料的新型燃气 轮机系统。公司已具备为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司始终关注下游 行业的技术进步，并将积极研究相关技术发展和市场需求。 ...

Investment Rating - The industry rating is "Overweight" (maintained) [6] Core Insights - The global first 30MW pure hydrogen gas turbine has achieved significant breakthroughs, marking the successful transition from blueprint to reality, with potential applications in various energy scenarios [6] - Hydrogen energy production and consumption are steadily growing, with global hydrogen production and consumption expected to reach approximately 105 million tons by the end of 2024, reflecting a year-on-year growth of about 2.9% [6] - The green hydrogen industry is entering a fast track, with a total of 865 green hydrogen projects in China as of mid-2025, and a disclosed potential capacity of 11.0616 million tons per year [6] Summary by Sections Industry Performance - Over the past 12 months, the industry has shown an absolute return of 41.06% and a relative return of 24.52% compared to the CSI 300 index [3] Investment Highlights - The hydrogen energy sector is witnessing a surge in renewable energy hydrogen production projects, with over 250,000 tons/year of cumulative capacity established, and a 42% year-on-year increase in new capacity in 2024 [6] - Investment opportunities are identified in three main areas: hydrogen production equipment, fuel cells, and green methanol [6]

（记者 王晓波） 每经AI快讯，博盈特焊（301468.SZ）12月30日在投资者互动平台表示，公司产品暂未应用于纯氢燃气 轮机。公司生产的HRSG作为燃气-蒸汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃 料的新型燃气轮机系统。公司已具备为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司 始终关注下游行业的技术进步，并将积极研究相关技术发展和市场需求。后续如涉及氢能等新应用领域 的重大业务进展，公司将根据相关规则及时履行信息披露义务。 ...

博盈特焊12月30日在互动平台表示，公司产品暂未应用于纯氢燃气轮机。公司生产的HRSG作为燃气-蒸 汽联合循环系统中的通用关键设备，其技术可以服务于以氢气为燃料的新型燃气轮机系统。公司已具备 为国际主流燃气轮机厂商配套生产HRSG装置的资质和能力。公司始终关注下游行业的技术进步，并将 积极研究相关技术发展和市场需求。后续如涉及氢能等新应用领域的重大业务进展，公司将根相关规则 及时履行信息披露义务。 ...

Core Insights - The National Energy Administration reported a significant increase in energy investment in China, with a total investment of 1.97 trillion yuan in key energy projects in the first eight months of the year, representing an 18.2% year-on-year growth [1] Group 1: Investment Growth Characteristics - Nuclear power, power grids, new energy storage, and coal power are key drivers of investment growth in energy projects [1] - In the first eight months, key energy storage projects in Xinjiang, Guangdong, Yunnan, Shandong, and Inner Mongolia saw investment growth rates exceeding 100% [1] Group 2: Rapid Growth in Specific Sectors - Wind power, modern coal chemical industry, oil and gas reserve facilities, charging and swapping infrastructure, and hydrogen energy investments are experiencing rapid growth [1] - Ongoing projects in Xinjiang and Inner Mongolia for coal-to-oil and coal-to-olefins are progressing steadily, while the Daan green hydrogen ammonia integration demonstration project in Jilin has been completed [1] Group 3: Steady Growth in Other Energy Investments - Investments in solar power generation, integrated source-grid-load-storage systems, oil and gas exploration and development, and pumped storage are steadily increasing [1] - Several integrated source-grid-load-storage projects are being advanced in Shandong, Shanxi, Gansu, and Guangxi, while major oil fields are steadily increasing reserves and production [1]

Core Insights - National energy investment in China has shown rapid growth, with key projects completing investments of 1.97 trillion yuan in the first eight months of the year, representing an 18.2% year-on-year increase [1] Group 1: Investment Growth Characteristics - Nuclear power, power grids, new energy storage, and coal power have been significant drivers of investment growth in energy projects [1] - Wind power, modern coal chemical industry, oil and gas storage facilities, charging infrastructure, and hydrogen energy investments have seen rapid increases, with wind power investment growing over 40% year-on-year [2] - Solar power generation, integrated energy systems, oil and gas exploration, and pumped storage investments have steadily increased, with solar power project investments rising by 17.5% year-on-year [3] Group 2: Regional Investment Highlights - Six provinces (Shandong, Jiangsu, Guangdong, Xinjiang, Yunnan, Inner Mongolia) each completed investments exceeding 100 billion yuan in the first eight months [1] - Significant investment in wind power projects has been noted in regions such as Xinjiang, Hebei, Guangxi, Shandong, and Hunan [2] - Major oil and gas projects are progressing in the Bohai Sea and Jianghan shale gas fields, with proven reserves of 165 billion cubic meters [3]

Core Viewpoint - Hydrogen energy is becoming a key pathway for green development as global energy transition accelerates, with various regions aiming to establish a competitive edge in this sector [1][2]. Policy Developments - The "Implementation Plan for the Renewable Energy Development and Utilization Regulations in Beijing" proposes the construction of hydrogen energy infrastructure and its application across multiple fields, aiming to create a comprehensive hydrogen energy network covering Beijing and the surrounding areas [1][3]. - The plan includes diversified local hydrogen production pilot projects, the establishment of hydrogen refueling stations, and the exploration of hydrogen transportation pipelines [3]. - Other regions, such as Chongqing and Wuhan, are also actively developing hydrogen energy policies and infrastructure, indicating a nationwide push towards hydrogen energy [4][5]. Industry Outlook - The International Energy Agency predicts that global hydrogen demand will exceed 500 million tons by 2050, with over 60% of this demand coming from power generation, natural gas blending, and transportation sectors [7]. - Domestic hydrogen demand in China is expected to reach between 100 million tons and 130 million tons by 2050 [7]. Corporate Engagement - Companies are increasingly focusing on hydrogen energy, with strategic partnerships and projects being established to enhance their presence in this sector. For instance, Beijing Yihuatong Technology Co., Ltd. signed a strategic cooperation agreement with Shanxi Pengfei Group to develop hydrogen fuel cell technology [8]. - The first 30MW pure hydrogen gas turbine energy storage demonstration project is underway in Inner Mongolia, showcasing corporate investment in hydrogen technology [9]. - Companies are leveraging technological innovation and resource integration to accelerate the commercialization of hydrogen energy, indicating a robust growth potential in the industry [9].

Group 1: Analog Chips - Texas Instruments (TI) has announced a significant price increase for over 60,000 product models, with general materials rising by 15%-30% and high-end chips doubling in price, marking a rare large-scale adjustment in recent years [1] - The demand for automotive and industrial-grade high-end analog chips has surged over 25%, limiting the capacity allocated to consumer electronics [1] - The price hike by TI is expected to prompt domestic analog chip companies to follow suit, indicating a potential turning point for the industry [1] Group 2: TDI Market - Hanwha Chemical has temporarily halted TDI production due to equipment failure, marking the fourth major TDI production disruption globally this year [2] - The global TDI supply chain is heavily impacted, with TDI prices in China exceeding 16,000 yuan/ton, and some sources reaching 17,000 yuan/ton, reflecting a 17.94% month-on-month increase [2] - The concentrated nature of the TDI market means that production interruptions can lead to significant price fluctuations and potential profit recovery for related companies [2] Group 3: Electronic Skin Technology - Chengdu Humanoid Robot Innovation Center has launched the world's first AI neural network electronic skin, which offers unprecedented tactile perception capabilities [3] - The electronic skin technology is expected to find applications in robotics, medical monitoring, and other fields, with a projected global market size of approximately $6.3 billion by 2024, growing at a compound annual growth rate of over 17% [3] Group 4: Nuclear Fusion - Jiangxi Fusion New Energy Company introduced its hybrid fusion-fission reactor project "Spark One," aiming to achieve demonstration power generation by 2030 [4] - The project utilizes high-temperature superconducting technology and is expected to address several challenges faced by traditional fusion technology [4] - Nuclear fusion is viewed as a key to sustainable energy, offering a clean and virtually limitless energy source [4] Group 5: Hydrogen Energy - A 30MW pure hydrogen gas turbine energy storage demonstration project has commenced in Inner Mongolia, marking a significant breakthrough in hydrogen energy generation [5] - The project aims to establish a "green electricity to green hydrogen, green hydrogen to power" model, contributing to China's dual carbon goals [5] - The hydrogen energy sector is anticipated to become a trillion-level growth driver, supported by policy and technological advancements [5] Group 6: AI Computing Power - Huawei is set to unveil breakthrough technology in AI inference at an upcoming forum, which may reduce reliance on high-bandwidth memory (HBM) and enhance domestic AI model performance [6] - The demand for computing power is expected to rise alongside advancements in AI models, creating new commercial opportunities in AI applications [6] Group 7: Robotics - Beijing Economic-Technological Development Area has launched a plan to support the development of embodied intelligent robots, introducing ten measures to foster innovation in the sector [7] - The focus is on collaborative technology development, data-driven initiatives, and promoting new business models within the robotics industry [7] - The market for humanoid robots is projected to grow significantly, with estimates suggesting a global market size exceeding $150 billion by 2035 [8]