Group 1: Marine Economy Overview - The marine economy in China showed resilience and growth in the first half of the year, with a total marine production value of 5.1 trillion yuan, representing a year-on-year increase of 5.8% [1] - The traditional marine industry is developing steadily, with shipbuilding completion volume increasing by 4.7% year-on-year [2] - The marine tourism sector has seen significant growth, with an added value of 771.8 billion yuan, up 8.0% year-on-year [2] Group 2: Marine Equipment and Emerging Industries - The marine equipment construction market continues to lead globally, with new orders, delivered orders, and hand-held orders accounting for 64.6%, 43.3%, and 62.6% of the international market share, respectively [3] - The marine pharmaceutical and biological products sector is becoming more competitive, with advancements in marine drug research capabilities [3] - The seawater desalination sector is experiencing rapid technological innovation, with significant projects being completed [4] Group 3: Investment and Resource Development - In the first half of the year, 167,000 hectares of new marine and island projects were approved, involving investments exceeding 500 billion yuan, ensuring the demand for major projects [4] - The marine oil and gas resource development projects are progressing steadily, with significant milestones achieved in oil field development [4] - The marine food and water resource security capabilities are being strengthened, with a 4.8% increase in domestic marine product output [4] Group 4: Business Outlook and Innovation - Nearly 90% of marine-related enterprises expect stable or increased average employment numbers in the second half of the year [5] - A higher proportion of enterprises reported year-on-year growth in revenue, profit, and R&D expenditure compared to the first quarter [5] - Companies are enhancing their innovation capabilities through various measures, including talent development and digital transformation [5] Group 5: Maritime Trade and Infrastructure - The maritime import and export total increased by 1.1% year-on-year, indicating resilience in maritime trade [7] - The construction of smart and green ports is accelerating, with 23 automated container terminals and 29 automated bulk terminals completed [7] - New direct shipping routes have been established, expanding the maritime trade network [7]

Group 1: Overall Economic Performance - The marine economy in China showed resilience and positive growth in the first half of the year, with a marine GDP of 5.1 trillion yuan, representing a year-on-year increase of 5.8% [1] - The traditional marine industry is developing steadily, with shipbuilding completion volume increasing by 4.7% year-on-year [2] Group 2: Marine Equipment and Emerging Industries - The marine engineering equipment construction market continues to lead globally, with new orders, delivered orders, and hand-held orders accounting for 64.6%, 43.3%, and 62.6% of the international market share, respectively [3] - The marine pharmaceutical and biological products sector is enhancing its competitiveness, with advancements in marine drug research and development [3] Group 3: Investment and Resource Development - In the first half of the year, 16.7 million hectares of new marine and island projects were approved, with investments exceeding 500 billion yuan, ensuring the demand for major projects [4] - The marine clean energy supply capacity is improving, with offshore wind power generation increasing by 2.2% and new grid-connected capacity rising by 199.4% [4] Group 4: Business Outlook and Employment - Nearly 90% of marine-related enterprises expect stable or increasing average employment numbers in the second half of the year [5] - A significant proportion of enterprises reported growth in revenue, profit, and R&D funding compared to the previous quarter [5] Group 5: Technological Advancements - The establishment of the National Marine Comprehensive Test Field (Deep Sea) in Hainan aims to support deep-sea scientific research and technology innovation [6] - The launch of the "Marine Technology Online Market" in Qingdao integrates big data and AI to accelerate technology transfer and industrialization [6] Group 6: Trade and Port Development - The total import and export volume of marine shipping increased by 1.1% year-on-year, indicating resilience in marine foreign trade [7] - The construction of automated container and bulk cargo terminals is progressing, with 23 automated container terminals and 29 automated bulk cargo terminals completed [7]

Core Insights - China's marine economy demonstrated resilience in the first half of the year, with a marine production value of 5.1 trillion yuan, reflecting a year-on-year growth of 5.8% [1] - Traditional marine industries continued to play a stabilizing role, with the marine shipping industry maintaining a leading international market share [1] - Emerging marine industries showed strong growth, with marine engineering equipment deliveries and hand-held order amounts increasing by 39.3% and 9.7% respectively [3] Marine Industry Performance - The marine tourism sector's added value reached 771.8 billion yuan, growing by 8.0% year-on-year [1] - The marine transportation sector exhibited resilience, with marine freight volume and cargo turnover increasing by 5.2% and 6.9% respectively [1] - The domestic marine aquaculture production increased by 4.8% year-on-year, contributing to the "blue granary" initiative [5] Resource and Energy Development - The supply level of marine spatial resources and energy continued to improve, with an additional approved marine and island area of 167,000 hectares, a year-on-year increase of 25.2% [5] - The capacity for marine clean energy supply improved, with offshore wind power generation and newly connected capacity increasing by 2.2% and 199.4% respectively [5] Deep Sea Exploration and Technology - Significant advancements were made in deep-sea exploration and resource development technologies [8] - The National Marine Comprehensive Experimental Field (Deep Sea) was launched in Hainan, supporting deep-sea scientific research and technological innovation [10] - The "Deep Sea No. 1" gas field's second phase project commenced production, marking the completion of China's largest offshore gas field [10] Future Outlook - The Ministry of Natural Resources plans to deepen technological innovation, optimize industrial layout, and stimulate market vitality to achieve qualitative and quantitative growth in the marine economy [12]

Core Viewpoint - The article highlights significant advancements in deep-sea exploration and resource development technologies in China during the first half of the year, emphasizing the establishment of a comprehensive testing ground and the launch of new projects and equipment in the deep-sea sector [1] Group 1: Technological Advancements - The National Ocean Comprehensive Test Field (Deep Sea) has commenced operations in Hainan, providing a diverse testing environment from hundreds of meters to over 2000 meters deep, supporting fundamental research and original innovation in deep-sea science [1] - The collaboration between the manta ray robot and the "Jiaolong" submersible in the South China Sea cold spring area marks a transition from "hard mechanical" systems to "flexible intelligent" systems, expanding the application scenarios for deep-sea equipment [1] Group 2: Project Developments - The second phase of the South China Sea "Deep Sea No. 1" gas field project has been put into production, signifying the completion of China's largest offshore gas field [1] - The underwater production system equipment brand "Qinghai" has been launched, laying a solid foundation for the development of an independent and controllable modern industrial chain for deep-water oil and gas equipment [1]

Core Viewpoint - The release of the underwater robot resembling a manta ray and the first deep-sea operation video of the "Jiaolong" submersible marks a significant advancement in deep-sea exploration technology [1] Group 1 - The underwater robot, weighing 720 kilograms and with a wingspan of 4 meters, is referred to as the "devil fish" and is designed for deep-sea operations [1] - The robot can dive to depths of 1,000 meters, showcasing its superior biomimetic and flexible characteristics [1] - It operates as a companion to the "Jiaolong" submersible, enhancing the capabilities of deep-sea exploration missions [1]

Core Viewpoint - The article emphasizes the importance of the ocean to China's development and the strategic initiatives taken by the government to build a strong maritime nation, highlighting significant progress made in marine ecological protection and economic growth in the sector [2]. Summary by Relevant Sections Marine Strategy and Development - Xi Jinping has consistently prioritized marine development, proposing various strategies such as "Maritime Fuzhou" and "Strong Marine Province" during his tenure in different regions [2]. - The concept of a "maritime power" has been articulated, indicating that a modernized nation should be both land and sea strong [2]. Achievements in Marine Economy - During the 14th Five-Year Plan, 63 marine ecological protection and restoration projects have been initiated, restoring approximately 400 kilometers of coastline and 31,000 hectares of coastal wetlands [2]. - The national marine production value is projected to exceed 10 trillion yuan in 2024, marking a 5.9% increase from the previous year, and accounting for 7.8% of the national GDP [2]. Technological Advancements - Significant advancements in deep-sea technology have been made with the development of submersibles like "Jiaolong," "Deep Sea Warrior," and "Fighter," propelling the deep-sea industry to new heights [2].

Core Insights - The "Global Abyss Exploration Program" has been officially approved by the United Nations "Decade of Ocean Science" Executive Committee, led by the Chinese Academy of Sciences' Institute of Deep Sea Science and Engineering, marking a new chapter in global cooperation in deep-sea exploration [1][5] Group 1: International Collaboration - Chinese scientists will collaborate with researchers from over 10 countries, including New Zealand, Denmark, and Germany, to explore the Earth's deepest ocean "unmanned areas" [1][5] - The program aims to shift international deep-sea science from isolated research to systematic research, promoting the development of the international abyss discipline [5][6] Group 2: Scientific Objectives - The program will focus on extreme environmental life, geological processes, and the impact of human activities on abyssal environments, addressing questions about life origins and evolution [6][5] - Key research areas include the distribution and evolution of abyssal life, plate subduction and geological evolution, deep-sea material and energy exchange, abyssal carbon cycling, and global changes [6][5] Group 3: Achievements and Future Directions - Over the past decade, China has transitioned from "catching up" to "leading" in manned deep-sea exploration, with significant achievements such as the successful joint expedition to the Puysegur Trench involving 68 scientists from 8 countries [5][6] - The program is part of China's broader strategy to deepen international scientific cooperation and participate in global scientific governance, reflecting a commitment to open collaboration in various fields [6][5]

Core Viewpoint - The exhibition celebrating the 35th anniversary of the China Ocean Mineral Resources Research and Development Association showcases significant achievements in deep-sea exploration and technology development, highlighting China's commitment to marine resource management and international cooperation in ocean governance [1][4][7]. Group 1: Exhibition Overview - The exhibition features models of deep-sea submersibles such as "Jiaolong," "Deep Sea Warrior," and "Fendouzhe," attracting numerous visitors [1][3]. - It is organized into four thematic sections: "Dreams of Deep Sea Exploration," "Connecting Deep Sea," "Strengthening Marine Power," and "Exploring the Future of the Sea," displaying nearly a hundred physical exhibits and numerous educational images [1][3]. Group 2: Achievements and Contributions - Over the past 35 years, the China Ocean Association has focused on developing new sources of national resources, safeguarding deep-sea rights, advancing deep-sea technology, and contributing to global wealth [3][4]. - The association has successfully explored polymetallic sulfides and cobalt-rich crusts in regions like the Southwest Indian Ocean and the Western Pacific [4]. Group 3: Technological Advancements - The association has made significant technological breakthroughs, including the "Jiaolong" submersible reaching depths of 7,000 meters and establishing a collaborative deep-sea exploration system known as the "Three Dragons" [6]. - China's deep-sea technology has transitioned from "catching up" to "leading" in certain areas, demonstrating substantial progress in deep-sea equipment [6]. Group 4: International Collaboration - The association actively participates in international ocean governance, contributing to initiatives like the "Ocean Decade" and promoting the balance between resource development and environmental protection [4][6]. - It has initiated several major scientific programs, including the discovery and protection of deep-sea habitats and the study of global seabed ecosystems, enhancing China's role in global marine science [6]. Group 5: Future Aspirations - The exhibition aims to bridge the gap between science and the public, fostering innovation and inspiring future generations to engage in marine exploration [7].

Investment Rating - The report indicates a positive investment outlook for the deep sea technology industry in China, highlighting its potential as a key driver for high-quality marine economic development [2]. Core Insights - The deep sea technology industry in China is rapidly developing and is becoming a significant engine for the marine economy, with a projected marine production value of 10.54 trillion yuan in 2024, indicating substantial growth potential [2]. - The report emphasizes the importance of technological innovation in the deep sea sector, which has been recognized in government work reports, marking a transition to a high-quality development phase centered on technology [2]. - The report provides a forward-looking analysis of investment opportunities and industrial layout under the new "Blue Economy" paradigm, focusing on key areas such as deep sea equipment manufacturing, resource development, and scientific research [2]. Summary by Sections Background of Deep Sea Industry Development - China's deep sea resources are primarily located in the South China Sea and East China Sea, with significant mineral, biological, and energy resources [3]. - The strategic upgrade of deep sea technology in China has evolved from comprehensive exploration to independent innovation and industrial system development from 2013 to 2025 [3]. Civilian Sector Development Prospects - The deep sea industry in China encompasses four major equipment systems and six supporting technologies, with an expected industry scale growth from nearly 2 trillion yuan in 2024 to 3 trillion yuan by 2030, reflecting an annual growth rate of 10.6% [4]. Military Sector Competitive Landscape - The report discusses the global context of deep sea military competition, highlighting advancements in unmanned underwater vehicles (UUVs) and the U.S. Navy's strategic initiatives in deep sea warfare [5]. Deep Sea Resource Overview - The deep sea is rich in metal minerals, biological resources, and energy resources, with significant reserves of oil, gas, and various metals [22][23]. - The report details the types of deep sea resources, including polymetallic nodules, cobalt-rich crusts, and methane hydrates, emphasizing their potential for commercial development [22][23]. Technological Advancements - China's deep sea exploration technologies have made significant progress, particularly in manned submersibles and underwater observation networks, although there remain gaps in high-precision sensors compared to international standards [26][27]. - The report outlines the comprehensive technology layout from observation and detection to underwater operations, highlighting the need for further innovation in core technologies [29][31]. Economic Forecast - The deep sea economy in China is projected to reach nearly 3 trillion yuan by 2030, with significant contributions from marine oil and gas, marine mining, and marine engineering equipment sectors [44][45].

Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2] Core Viewpoints - The deep-sea industry is recognized for its vast resource potential and strategic importance, with significant government support anticipated for deep-sea technology development [3][16] - Deep-sea resources, particularly energy and mineral resources, are abundant, with deep-sea areas becoming major contributors to global oil and gas reserves [18][22] - The development of underwater technology and equipment has made significant progress, laying the foundation for deep-sea resource exploitation [35][50] Summary by Sections Section 1: Deep Sea as a Resource and Strategic Area - The deep sea, defined as waters below 200 meters, constitutes about two-thirds of the ocean floor and is rich in biological and mineral diversity [3][10] - China's total marine area is approximately 4.73 million square kilometers, with significant deep-sea regions in the South China Sea and East China Sea [12][16] - The government has prioritized deep-sea technology in its 2025 work report, indicating future policy support for this sector [16][18] Section 2: Civilian Sector - Breakthroughs in Underwater Technology and Resource Development - Underwater technology encompasses exploration, construction, oil and gas extraction, and mineral development, with recent advancements in various equipment [35][50] - The core sensor for deep-sea exploration is sonar, which is essential for environmental monitoring and resource assessment [37][39] - The development of underwater mining technology is progressing, with successful trials and increasing industrialization potential for oil, gas, and mineral resources [59][70] Section 3: Deep-Sea Warfare - Underwater Defense Capabilities - The deep sea offers a large, concealed operational space, making it strategically significant for military operations [74] - The underwater defense system includes both infrastructure and equipment, with a focus on unmanned systems for various military tasks [74][75] - There is an urgent need for China to enhance its underwater defense capabilities, with new technologies and equipment being introduced [74][75]