[CSI Headlines].

The digitalization of highway and waterway transportation has been comprehensively upgraded

Recently, the Ministry of Transport has identified the first batch of 15 special pilot tasks for the digital transformation and upgrading of highway and waterway transportation infrastructure. The task focuses on four key directions: First, focus on the digital and inclusive upgrading of transportation services, promote the information exchange and linkage of "one road and multiple parties" and "ships in the gate and port area", carry out the construction of cross-departmental and cross-regional collaborative scheduling systems and mechanisms, and accelerate the creation of "one network" and accompanying services. The second is to focus on the improvement of infrastructure security protection capabilities, rely on the systematic deployment of infrastructure sensing, transmission, and control equipment, carry out the intelligent integration and application of multi-source data, and improve the security prevention and control system and mechanism of "one point and one policy, regional coordination". The third is to focus on the development and utilization of transportation data elements, accelerate the construction of a digital foundation with unified standards, hierarchical decoupling, and integration and integration, and explore the construction of a full-chain and diversified data operation system for the transportation industry. Fourth, we will focus on the collaborative innovation and development of industries, promote the deep integration and application of new technologies such as 5G, big data, and artificial intelligence with infrastructure, actively and steadily promote the development of industries such as vehicle-to-road cloud and ship-to-shore cloud, and improve the policy innovation environment.

Comments: The pilot mission covers multiple provinces and regions, which will help strengthen transportation links and coordinated development between regions. The interconnection of transportation infrastructure through digital means can promote the flow of factors and the sharing of resources between regions. In addition, through the implementation of pilot tasks, a number of advanced experiences and typical achievements that can be replicated and promoted will be formed, providing demonstration and reference for the digital transformation of transportation infrastructure nationwide.

◆Among the A-share companies, Shenzhen Urban Exchange (301091) is in a leading position among domestic urban transportation professional research institutions. Wanji Technology (300552) has achieved a leading market position in the intelligent transportation information collection and processing industry.

[CSI Focus].

The full 3D printed electrospray engine was introduced

A team from the Massachusetts Institute of Technology (MIT) recently demonstrated an electrospray engine built entirely with 3D printing technology that can propel itself by emitting droplets. Not only is this innovative device fast to produce and much less expensive than traditional thrusters, it can even be printed in space using commercially available 3D printing materials and technologies. The 3D printed electrospray engine can almost mark an important breakthrough in aerospace propulsion technology. Because of its rapid production and customization capabilities, the design can be quickly adapted to specific needs during space missions, greatly improving execution flexibility and responsiveness.

Comments: Manufacturing electrospray engines requires high-precision, high-resolution 3D printing technology to achieve precise manufacturing of microstructures and macrostructures. As the successful application of 3D printing technology in the aerospace field, the electrospray engine demonstrates the high-end manufacturing ability and innovation level of 3D printing technology, which helps to promote the application and promotion of 3D printing technology in other high-end manufacturing industries.

◆Among the A-share companies, BLT (688333) is one of the largest enterprises in China in terms of installed capacity of metal 3D printing equipment. The 3D printing powder material of the research powder material (688456) is in the stage of small batch production and market promotion of the product.

【Highlights of the News】

○ On February 20, Pan Gongsheng, secretary of the party committee and governor of the People's Bank of China, presided over a party committee meeting. The meeting demanded that we should implement a moderately loose monetary policy, continue to do a good job in the "five major articles" of finance, give full play to the dual functions of the total amount and structure of structural monetary policy tools, and support scientific and technological innovation and promote consumption. Make good use of stock repurchases, increase holdings and reloans, and maintain the stable operation of the capital market. Implement 25 measures to support the private economy through detailed finance.

○ Zhao Chongjiu, Secretary of the Party Group and Director of the State Post Bureau, led a team on the morning of February 20 to investigate the R&D and application of unmanned vehicles in the industry in Beijing. Zhao Chongjiu said that he would vigorously implement the innovation-driven development strategy, increase the transformation and application of scientific and technological achievements, accelerate the large-scale development and application of unmanned aerial vehicles, unmanned vehicles and unmanned warehouses, actively cultivate and develop new quality productivity, and help the high-quality development of the industry. It is necessary to further improve the scientific and technological innovation system with enterprises as the main body, market-oriented, and the combination of production, education, research and application, strengthen the construction of the industry standard system, improve the standard level with scientific and technological innovation, and promote the transformation of scientific and technological achievements with standards.

○ HC Chemical Network released a message that the 60,000 tons/year propylene epichlorohydrin plant in Wudi Xinyue, Binzhou, Shandong Province was shut down on February 16, and another 60,000 tons/year new glycerin plant has not yet been put into operation. The domestic price of epichlorohydrin has risen significantly, and the mainstream price in Shandong market is 9600 yuan/ton - 9800 yuan/ton, up 450 yuan/ton from last week. The price in Jiangsu exceeded 10,000 yuan, and the mainstream market price was 9,900 yuan/ton-10,000 yuan/ton, up 300 yuan/ton from last week. Affected by the rise in the price of epichlorohydrin, the price of its downstream epoxy resin and TGIC increased.

[Sankei perspective].

Hunan: Promote the technological transformation and upgrading of traditional data centers into intelligent computing centers

Recently, the General Office of the Hunan Provincial People's Government issued the "Several Policies and Measures for Promoting the High-quality Development of the Green Intelligent Computing Industry in Hunan Province". It is mentioned that it is necessary to consolidate the foundation of computing power, actively strive for major intelligent computing infrastructure projects to settle in Hunan, and support major intelligent computing infrastructure construction projects with a scale of more than 1000PFlops in the form of "one thing and one discussion". Encourage key areas and industrial parks to build intelligent computing centers that provide computing services for enterprises, promote traditional data centers to accelerate technological transformation and upgrading into intelligent computing centers, and give subsidies to 10% of the construction costs of equipment and software for new (renovated) intelligent computing infrastructure projects with a total computing power of more than 50PFlops and a power utilization efficiency of data centers not higher than 1.3, with a maximum of 20 million yuan. Support enterprises to build intelligent computing centers and edge computing facilities, and give subsidies to 10% of the construction costs of equipment and software for computing facilities deployed by enterprises, with a maximum of 10 million yuan.

Comments: As the core infrastructure in the era of artificial intelligence, the intelligent computing center can better support the intelligent upgrading of various industries and give birth to new business models and innovative applications. Compared with traditional data centers, intelligent computing centers consume more energy, so they have higher requirements for heat dissipation, power stability, and reliability, and the industry chain is expected to benefit. A-share related concept stocks include Invic (002837), Shenling Environment (301018) and so on.

【Company Trends】

○ Tengjing Technology (688195) released a performance report, achieving a total operating income of 446 million yuan in 2024, a year-on-year increase of 31.07%; The net profit attributable to the parent company was 69.5199 million yuan, a year-on-year increase of 66.89%.

○ Shenzhou Taiyue (300002) announced that it will achieve a total operating income of 6.452 billion yuan in 2024, a year-on-year increase of 8.21%; operating profit was 1.650 billion yuan, a year-on-year increase of 56.82%; the total profit was 1.643 billion yuan, a year-on-year increase of 56.29%; net profit attributable to shareholders of listed companies was 1.440 billion yuan, a year-on-year increase of 62.35%. This was mainly due to the increase in profit in the gaming business, the stable development of the software and information technology services business, as well as interest income and foreign exchange gains and losses due to the stable interest rate and exchange rate of the US dollar.

○ If Yuchen (003010) issued an announcement that the company plans to use its own funds and special loan funds for stock repurchase to repurchase some shares in a centralized bidding transaction, with a repurchase amount of not less than 100 million yuan and no more than 200 million yuan. The repurchase price does not exceed 42.40 yuan per share.

○ Lihe Technology (300800) announced that the shareholder Guoke Ruihua Venture Capital Enterprise plans to reduce its holdings of the company's shares by centralized bidding transactions within 3 months after 3 trading days from the date of the announcement, which is not more than 4.86% of the company's total share capital.

○ Tellhow Technology (600590) announced that the company's shares deviated from the closing price increase by 20% in three consecutive trading days from February 17 to 19, which is an abnormal fluctuation in stock trading. There have been no major changes to the company's main business, but it is expected to show a loss in 2024. At present, the company has no material matters that should be disclosed but have not been disclosed.

[Capital Tide].

○ On February 20, the net outflow of main funds in Shanghai and Shenzhen was 36.585 billion yuan. The top three sectors with net inflows of major funds were consumer electronics, medical services and optics and optoelectronics, with net inflows of 1.574 billion yuan, 1.387 billion yuan and 612 million yuan respectively. The top three stocks with net inflows of main funds were Shanghai Electric, Shengli Precision and Aofei Data, with net inflows of 662 million yuan, 518 million yuan and 481 million yuan respectively.

○ Boqian New Materials (605376) rose on February 20, with a turnover of 581 million yuan. According to the data of the Dragon and Tiger List, the special seats for Shanghai-Hong Kong Stock Connect bought 40.85 million yuan and sold 31.2137 million yuan, and an institution bought a net of 29.246 million yuan.