新华社上海2月12日电 题：全国人大代表张帆：为"AI+制造"破局 闯出创新无人区 新华社记者陈潇雨 什么是"AI+制造"？在中国电气装备集团科研基地，全国人大代表、中国电气装备集团副总经理张帆举 起一块看似寻常的硬纸板说："这是特高压变压器的关键材料——绝缘纸板。长期以来，它的原材料被 国外巨头垄断，现在我们用AI推算纸浆配比，是突破'卡脖子'难题的新路径。" 1月27日，张帆在介绍特高压变压器的关键材料绝缘纸板。新华社记者 刘颖 摄 这条"新路径"，指向张帆对"AI+制造"的理解：并非技术与产业的简单叠加，而在于重构生产与创新的 全流程。 为把握"AI+制造"的脉搏，张帆深入一线。调研中，他获悉一起痛心案例：在断路器密闭空间中作业 时，工人因残留有害气体导致伤亡。张帆说："这类危险岗位，正是AI应该替代人工的场景。"而在质检 车间，他目睹老师傅们凭肉眼反复检测，效率低且状态不稳。"老师傅的经验难以言传，而AI能沉淀这 些隐性知识，避免人员流动导致的技术断层，并推动生产效率规模化提升。"张帆说。 这些来自一线的见闻，让他确信，要实现"AI+制造"，必须从国家层面加强顶层设计与行业指引。2025 年，张帆提交 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company achieved a year-on-year increase of 92% in net profit attributable to shareholders in the first half of 2025, with steady capacity release capturing strategic opportunities in the power transmission and transformation equipment market [5] - The company is positioned as one of the few domestic manufacturers capable of producing insulation materials for ultra/high voltage levels, which is expected to continue benefiting from strong downstream demand and favorable pricing trends [8] Summary by Sections Market Performance - The closing price is 99.45 yuan, with a one-year high of 108.97 yuan and a low of 50.00 yuan [3] Financial Data - Total market capitalization is approximately 9,095.99 million yuan, with a circulating market value of 2,940.17 million yuan [3] - The company has a debt-to-asset ratio of 17.81% and a net asset value per share of 8.83 yuan [3] Earnings Forecast and Valuation - Revenue projections for 2023 to 2027 are as follows: 420 million yuan (2023), 578 million yuan (2024), 811 million yuan (2025E), 1,108 million yuan (2026E), and 1,516 million yuan (2027E) [7] - Net profit attributable to shareholders is forecasted to grow significantly from 49 million yuan in 2023 to 428 million yuan in 2027, with corresponding P/E ratios decreasing from 184.11 to 21.23 over the same period [7] Recent Events - In the first half of 2025, the company reported revenue of 375 million yuan (up 45% year-on-year) and a net profit of 96.49 million yuan (up 92% year-on-year) [8] - The company is expanding its production capacity, with a projected increase of approximately 30% from ongoing projects, enhancing its competitive position in the market [8]