【大河财立方 记者 孙凯杰】近年来，随着政策指引加速、优质项目频现，中长期资金服务实体经济的 重要性愈发凸显。作为市场上规模最大的耐心资本，保险资金正在成为支持地方重大产业布局、基础设 施建设和战略性新兴产业发展的关键力量。在河南，自"险资入豫"专项行动开启以来，资金、政策、产 业正在形成协同联动的格局，为区域发展注入长期资本动力。 郑州航空港区是目前我国唯一由国务院批准设立的航空港经济综合实验区，也是河南推进现代产业体系 建设的重要阵地。近年来，围绕电子信息、新能源汽车、航空装备、生物医药等方向，形成"4+3+3"现 代产业体系，产业规模持续扩大，结构不断优化。 近年来，郑州航空港区聚焦发展新质生产力发展，郑州航空港区谋划了"4+3+3"现代化产业体系，重点 发展电子信息及新一代信息技术、新能源汽车、生物医药大健康、航空航天卫星、现代物流、会展商 贸、新材料等战略性新兴产业，前瞻布局新型储能、人工智能等未来产业。 锚定重点产业，以富士康、超聚变为引领的万亿级电子信息产业集群在郑州航空港区稳步前行。自2012 年落户以来，富士康郑州工厂累计生产智能手机超12亿部，成为全球最大的智能终端生产基地，建成我 省首家 ...

Core Viewpoint - The press conference highlighted the achievements of Shaanxi Province in building a modern industrial system during the "14th Five-Year Plan" period, focusing on industrial, agricultural, service, and infrastructure transformations. Group 1: Industrial Development - New industrialization has made solid progress, with traditional industries undergoing accelerated transformation. The province has implemented a plan for industrial structure adjustment in the Guanzhong area, promoting the upgrade of high-energy-consuming and high-polluting enterprises. Major modern coal chemical projects have been planned, resulting in an increase of over 8 million tons/year in coal-based chemical product capacity and nearly 50 billion yuan in output value [6][44]. - The energy security capacity has improved, with natural gas and crude oil production ranking 3rd and 4th nationally, respectively. Natural gas production increased by 10 billion cubic meters compared to the end of the "13th Five-Year Plan." Coal production is expected to reach 780 million tons in 2024, an increase of 10 million tons from 2020 [6][44]. - Strategic emerging industries have rapidly risen, with the added value of new strategic industries and high-tech manufacturing growing at an average annual rate of 8.7% and 10.3%, respectively. The production of new energy vehicles has increased by an average of 112% annually, ranking among the top three in the country [6][44]. Group 2: Agricultural Development - The foundation of modern agriculture has been continuously strengthened, with the implementation of a three-year action plan for rural industrial integration development. By 2025, the province aims to secure 3.356 billion yuan in central investment for high-standard farmland and other projects. The total grain output in 2024 is projected to reach 13.5229 million tons, with a yield of 297.35 kg/mu, both hitting historical highs [7]. Group 3: Service Sector Growth - The service sector has expanded significantly, with the added value expected to reach 18.4 trillion yuan in 2024, a year-on-year growth of 5%, accounting for over 50% of the province's GDP. The province has recognized 30 provincial-level service industry agglomeration areas, promoting the scale development of the service sector [8]. Group 4: Infrastructure Enhancement - The international logistics channels have been efficiently established, with the construction of the China-Europe Railway Express Xi'an assembly center and the regular operation of 18 international routes. The annual operating volume has increased from 3,720 trains in 2020 to 4,985 trains in 2024, averaging a growth of 34% [9]. - The comprehensive transportation network is improving, with the railway operating mileage reaching 6,030 kilometers and the total road mileage reaching 190,000 kilometers. The renewable energy installed capacity has reached 63.45 million kilowatts, with all counties and highway service areas having charging stations [9].

Group 1: Modern Industrial System Development - Shaanxi has focused on building a modern industrial system as a strategic initiative during the 14th Five-Year Plan, leading to revitalization of traditional industries and rapid growth of emerging industries [1] - The province has implemented a plan for industrial structure adjustment in the Guanzhong area, promoting the transformation and upgrading of high-energy-consuming and high-polluting enterprises [1] - Strategic emerging industries and high-tech manufacturing have seen annual value-added growth rates of 8.7% and 10.3% respectively during the 14th Five-Year Plan, with new energy vehicle production growing at an annual rate of 112% [1] Group 2: Agricultural Modernization - The implementation of the rural industrial integration development demonstration park three-year action plan has resulted in the establishment of 9 national and 65 provincial demonstration parks, with a target of 3.356 billion yuan in central investment for 2025 [2] - In 2024, the total grain production is expected to reach 13.5229 million tons, with a historical high yield of 297.35 kg per mu [2] Group 3: Service Industry Development - By 2024, the service sector's value added is projected to reach 1.84 trillion yuan, accounting for 51.8% of the province's GDP, achieving the 14th Five-Year Plan target ahead of schedule [2] - The combined revenue of scientific research, technical services, and information technology services accounted for 51.3% of the profitable service industry in the first three quarters of this year [2] Group 4: Infrastructure Enhancement - The construction of the China-Europe Railway Express (Xi'an) has seen an increase in annual operations from 3,720 trains in 2020 to 4,985 in 2024, with an average annual growth of 34% [2] - The railway operating mileage has reached 6,030 kilometers, while the total road mileage has reached 190,000 kilometers, and urban rail transit operating mileage has reached 403 kilometers [2]

Group 1 - The company, Xian Yicai, is focusing on the production, research and development, and sales of 12-inch large silicon wafers [2] - The fundraising projects are progressing steadily according to plan for capacity expansion [2]

Group 1 - The company is focused on the production, research, and sales of 12-inch large silicon wafers, indicating a commitment to this specific segment of the semiconductor industry [2] - The company is currently expanding its production capacity as planned, which suggests a strategic move to enhance its market position in the silicon wafer sector [2]

Core Insights - The successful IPOs of Guangzhou Bibetter Pharmaceutical Co., Ltd. and Xi'an Yicai New Materials Technology Co., Ltd. on the Sci-Tech Innovation Board mark a significant milestone for the capital market and highlight the investment strategy of Yuexiu Industrial Fund in the "hard technology" sector [2][3] Investment Strategy - Yuexiu Industrial Fund has adopted a strategy of "early investment, small investment, and hard technology," focusing on nurturing new productive forces and empowering technological innovation through a unique model of "industry + capital" [3][4] - The fund has invested in nearly 200 technology innovation enterprises across key sectors such as integrated circuits, biomedicine, and artificial intelligence, emphasizing the importance of early-stage projects and specialized small and medium-sized enterprises [4][6] Company Profiles - Bibetter is a biopharmaceutical company focused on innovative drug research and development for major diseases, with its core product being the world's first approved dual-target inhibitor for PI3K/HDAC, addressing significant unmet clinical needs [3][4] - Xi'an Yicai is a leading manufacturer in China's semiconductor materials sector, specializing in the research, manufacturing, and sales of 12-inch silicon wafers, aimed at enhancing the competitiveness of the domestic electronic-grade silicon wafer industry [3][4] Capital Empowerment - The fund's investments in Bibetter and Xi'an Yicai have provided essential financial support for clinical research, commercialization, and capacity enhancement, demonstrating a commitment to deepening empowering investments for technology companies [5][6] - Yuexiu Industrial Fund leverages its diversified industrial resources to create an ecosystem that supports enterprise growth through management, industry, and capital empowerment [5][6] Future Outlook - The establishment of the Sci-Tech Growth Layer opens new opportunities for hard technology enterprises, and Yuexiu Industrial Fund aims to continue its focus on financial services for the real economy, supporting national and regional strategies while fostering new productive forces [8]

Core Insights - The global semiconductor industry is undergoing significant changes, with materials playing a crucial strategic role [1] - China, as the second-largest market, is expected to see the scale of key electronic materials exceed 170 billion yuan by 2025, with a year-on-year growth of over 20% [1] - Domestic substitution in sectors like large-size silicon materials, gallium arsenide, indium phosphide, and silicon carbide is entering a "golden window period" [1] Industry Overview - The domestic production rate of semiconductor-grade silicon materials has surpassed 50%, while the production rate of polishing liquids has exceeded 30% [1] - The demand from end markets such as AI computing and new energy vehicles is creating exponential growth opportunities for upstream material companies [1] - Third-generation semiconductor materials, represented by silicon carbide and gallium nitride, are accelerating their application in new energy vehicles and 5G communications, enhancing device performance and energy efficiency [1] Challenges and Recommendations - Despite advancements, the domestic production rates for critical components like 12-inch silicon wafers and high-end photoresists remain low, indicating ongoing uncertainties in the global supply chain [1] - There is an increasing competition for core technologies and talent within the semiconductor materials sector [1] - It is recommended to strengthen basic research and technological innovation in wide bandgap semiconductor materials, such as gallium oxide and two-dimensional materials, to gain a competitive edge in next-generation technologies [2] - Building a more open and inclusive innovation ecosystem is essential, encouraging collaboration among upstream and downstream enterprises for coordinated innovation [2] - Utilizing AI and big data can accelerate material research and industrialization processes, supporting high-quality sustainable development [2]

Core Viewpoint - The article emphasizes the critical role of semiconductor silicon wafers, particularly 12-inch wafers, in the modern chip manufacturing industry, highlighting their importance in the geopolitical landscape and the need for self-sufficiency in semiconductor materials due to global supply chain disruptions and trade tensions [3][4]. Group 1: Industry Overview - Semiconductor silicon wafers are essential for the production of over 95% of semiconductor devices and more than 90% of integrated circuits, with their quality directly impacting the performance, yield, and reliability of integrated circuits [3]. - The market for silicon wafers is highly monopolized by a few international giants, including Japan's Shin-Etsu Chemical, Sumco, Germany's Siltronic, and South Korea's SK Siltron, creating a stable yet closed supply system [4]. Group 2: Geopolitical Context - The monopolistic nature of the silicon wafer market is not only a commercial issue but also a geopolitical one, as the control over these materials is crucial for national economic security and technological competitiveness [4]. - Recent global supply chain fluctuations and increasing trade frictions have made the self-sufficiency of semiconductor materials a vital concern for countries, positioning companies that can navigate this landscape as key players in the industry [4].

Group 1: Apple and AI Products - Apple plans to enhance its competitiveness in the AI sector with new devices, including robots, an upgraded Siri, smart speakers with displays, and home security cameras [2] - The core hardware of Apple's AI strategy is a desktop robot positioned as a "virtual companion," expected to launch in 2027 [2] Group 2: Alibaba's Business Structure - Alibaba has restructured its business units, with Taotian Group now being part of the China E-commerce Group alongside Ele.me and Fliggy, indicating a clearer division and enhanced independence among its business units [2] Group 3: Douyin E-commerce Integration - Douyin E-commerce is integrating its instant retail and e-commerce operations to enhance product and fulfillment capabilities, aiming to improve merchant operational efficiency and user experience [3] Group 4: Google's Investment in Oklahoma - Google announced a $9 billion investment in Oklahoma over the next two years to support the construction of new data centers and expand existing facilities [4] Group 5: ByteDance's Open Source Framework - ByteDance's Seed team has released and open-sourced the VeOmni framework, which significantly reduces engineering overhead and improves training efficiency for multimodal models [4] Group 6: Zhiyuan Robotics' New Platform - Zhiyuan Robotics launched the Genie Envisioner platform, integrating future frame prediction, strategy learning, and simulation evaluation into a unified model for robotic control [5] Group 7: DJI's Response to Restructuring Rumors - DJI refuted claims of significant internal restructuring in its sales department, asserting that the reports contained serious factual inaccuracies [8] Group 8: Tencent's Chip Resource Management - Tencent management stated that the company has sufficient chips for training and model upgrades, and plans to improve software to enhance inference efficiency [9] Group 9: Zhaowei Electromechanical's Investment in Thailand - Zhaowei Electromechanical announced a plan to invest up to $100 million in establishing a new production base in Thailand to enhance its international competitiveness [10] Group 10: Junsheng Electronics' Robotics Collaboration - Junsheng Electronics has signed cooperation agreements with domestic and international robotics manufacturers to provide key components and integrated solutions for humanoid robots [11] Group 11: Nvidia's GPU Chip Rubin - Nvidia denied reports of delays in the production of its next-generation GPU chip, Rubin, which is expected to be released on schedule [12] Group 12: Cambricon's Stock Trading Clarification - Cambricon clarified that recent market rumors regarding large orders and revenue forecasts were misleading and not based on factual information [13] Group 13: Nanjing's Price Increase in Storage Testing - Nanjing's storage testing company announced a price increase of 5% to 18% due to rising costs, while maintaining a stable business outlook [14] Group 14: Zhengzhou's Silicon Wafer Project Update - Zhengzhou's 12-inch silicon wafer project is on track for completion by the end of September, with plans to produce 100,000 wafers monthly after full operation [15] Group 15: Yiswei Materials' IPO Approval - Yiswei Materials' IPO application has been approved, marking it as the first unprofitable company to receive approval under new regulations [16] Group 16: Chipsea Technology's H-Share Listing Plan - Chipsea Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and competitiveness [17] Group 17: Kanda New Materials' Acquisition - Kanda New Materials intends to acquire a 51% stake in Zhongke Huami for 275 million yuan to expand its semiconductor integrated circuit capabilities [18] Group 18: Didi's Strategic Investment in New Stone - Didi announced a strategic investment in New Stone Technology, which has recently expanded its autonomous vehicle deployment significantly [19]

Group 1: Apple and AI Products - Apple plans to enhance its competitiveness in the AI sector with new devices, including robots, an upgraded Siri, smart speakers with displays, and home security cameras [2] - The core hardware of Apple's AI strategy is a desktop robot positioned as a "virtual companion," expected to launch in 2027 [2] Group 2: Alibaba's Business Structure - Alibaba has restructured its business units, with Taotian Group now being part of the China E-commerce Group alongside Ele.me and Fliggy, indicating a clearer division of business segments [2] Group 3: Douyin E-commerce Integration - Douyin E-commerce is integrating instant retail with its e-commerce operations to enhance product and fulfillment capabilities, aiming to improve merchant operational efficiency and user experience [3] Group 4: Google's Investment in Oklahoma - Google announced a $9 billion investment in Oklahoma over the next two years to support new data center construction and expand existing facilities [4] Group 5: ByteDance's Open Source Framework - ByteDance's Seed team has released and open-sourced the VeOmni framework, which significantly reduces engineering overhead and improves training efficiency for multimodal models [4] Group 6: Zhiyuan Robotics' New Platform - Zhiyuan Robotics launched the Genie Envisioner platform, integrating future frame prediction, strategy learning, and simulation evaluation for real-world robot control [5] Group 7: DJI's Response to Restructuring Rumors - DJI refuted claims of significant internal restructuring in its sales department, asserting that the reports contained serious factual inaccuracies [8] Group 8: Tencent's Chip Resource Management - Tencent management stated that the company has sufficient chips for training and model upgrades, and will improve software to enhance inference efficiency [9] Group 9: Zhaowei Electromechanical's Investment in Thailand - Zhaowei Electromechanical plans to invest up to $100 million in establishing a new production base in Thailand to enhance its international competitiveness [10] Group 10: Junsheng Electronics' Robotics Collaboration - Junsheng Electronics has signed cooperation agreements with domestic and international robotics manufacturers to provide key components and integrated solutions [11] Group 11: Nvidia's GPU Chip Rubin - Nvidia denied reports of delays in the production of its next-generation GPU chip, Rubin, which is expected to be released on schedule [12] Group 12: Cambricon's Stock Trading Clarification - Cambricon announced that recent market rumors regarding large orders and revenue forecasts were misleading and not based on factual information [13] Group 13: Nanjing South's Price Increase - Nanjing South's chairman announced a price increase of 5% to 18% for storage-related testing services due to rising costs [14] Group 14: Zhengzhou Hejing's Silicon Wafer Project - Zhengzhou Hejing's 12-inch silicon wafer project is on track for completion by the end of September, with plans for mass production to fill a technology gap in high-end silicon wafer manufacturing [15] Group 15: Yiswei Materials' IPO Approval - Yiswei Materials' IPO application has been approved, marking it as the first unprofitable company to receive approval under new regulations [16] Group 16: Chipsea Technology's H-Share Listing - Chipsea Technology plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and competitiveness [17] Group 17: Kanda New Materials' Acquisition - Kanda New Materials intends to acquire a 51% stake in Zhongke Huami for 275 million yuan to expand its semiconductor integrated circuit capabilities [18] Group 18: Didi's Strategic Investment in New Stone - Didi has made a strategic investment in New Stone Technology, which has recently expanded its autonomous vehicle deployment significantly [19]