Cloud POS apps usually work on tablets and smartphones to receive payments from anywhere, as long as you have a 3G, 4G or Wi-Fi connection. Chip, non-contact or swipe cards should be processed through a card reader, but there are many integrated and wireless card machines that can be used with cloud-based POS systems. Management functions can be accessed through a web browser anywhere.

Leveraging strong R&D platforms, Innovent has built a robust pipeline of 25 clinical-stage assets in the fields of cancer, metabolic, autoimmune diseases and other major therapeutic areas, with 5 products, including Tyvyt (sintilimab injection, PD-1 antibody), Byvasda (bevacizumab injection), Sulinno (adalimumab injection) and Halpryza (rituximab injection) approved by the National Medicine Products Administration (NMPA) for marketing in Mainland China and IBI375 (Pemigatinib, FGFR1/2/3 inhibitor) approved by Taiwan Food and Drug Administration (TFDA), 6 assets in pivotal clinical trials, and additional 14 molecules in early clinical stage.

Geopolitical instability: Political turmoil, a resurgence of terrorism, and border security threats have led to increased demand for ISR services to provide real-time situational awareness for border security forces, armed forces, and law enforcement organisations. Countries that see high prevalence of these issues will also witness growing demand for ISR monitoring assets (unmanned systems, for example) in industries such as oil and gas (O&G) and energy to reduce risk to personnel. The need to train and maintain skilled ISR resources: Personnel training (for ISR asset operation) and asset maintenance can be expensive undertakings for organisations. This will drive the need for ISRaaS business models such as operator provision or turnkey solutions. These services will reduce the need for companies to provide training or pay direct maintenance costs.

The cloud communication platform includes varied types of solutions which are used to boost the efficiency of business activities. Unified Communication and Collaboration (UCC/UCaaS), Web Real-Time Communication (WebRTC), Interactive Voice Response (IVR), Voice Over Internet Protocol (VoIP), Application Programming Interface (API) are some of the prominent solutions used by industries to increase the effectiveness of operations. Ion addition, with an increase in remote working and work from policy, the penetration of cloud based platforms are boosting at an exponential rate.

The power generation industry volume is defined as the total electrical energy (TWh) generated within a country over the course of each calendar year. The value of the industry is obtained by multiplying volume of generated energy by the appropriate annual average non-household power price, or equivalent, excluding taxes and levies. The power generation industry is segmented by volume into electricity produced from nuclear, conventional (thermal generation from fossil fuels), and renewable (hydropower, wind, solar PV, biomass, and geothermal) sources.

The BFSI industry includes commercial banks, insurance companies, non-banking financial companies, and other entities. The availability of new channels to improve the customer experience means that security capabilities across the organization must be improved. BFSI security includes cybersecurity and the physical security of banking and other financial organizations.

Leveraging strong R&D platforms, Innovent has built a robust pipeline of 25 clinical-stage assets in the fields of cancer, metabolic, autoimmune diseases and other major therapeutic areas, with 5 products, including Tyvyt (sintilimab injection, PD-1 antibody), Byvasda (bevacizumab injection), Sulinno (adalimumab injection) and Halpryza (rituximab injection) approved by the National Medicine Products Administration (NMPA) for marketing in Mainland China and IBI375 (Pemigatinib, FGFR1/2/3 inhibitor) approved by Taiwan Food and Drug Administration (TFDA), 6 assets in pivotal clinical trials, and additional 14 molecules in early clinical stage.

With major consumer-oriented manufacturers gradually shifting to customized packaging to enhance shelf-visibility, in turn, attracting customers, the adoption of digital printing became vital. The beverage company, Coca-Cola, had been an early adopter for such a system and launched multiple campaigns based on digitally printed, highly-customized labels. There is an increased demand for digital prints wrapped on the glass fronts of office buildings, and huge digitally printed banners displayed down the sides of buildings. The automotive industry has also become a major part of the digital advertising world, with cars, buses, vans, and trailers fully wrapped with digital prints.

Sustainable energy management solutions in this study include BEMS and HEMS. The study provides market insights on the BEMS and HEMS market at the global level. Regions included are North America, Europe, Asia-Pacific (APAC), and the rest of the world (ROW).

Autonomy and artificial intelligence (AI) are, and will remain, the main drivers promoting commercial UAS adoption and associated market growth. Autonomous flight reduces the need for expensive manpower whereas AI-driven data collection and processing reduces the time it takes to produce results that directly impact decision-making. Key Drivers As has been the case for several years, civil aviation authorities have not been able to adapt regulatory frameworks to keep pace with the technological and operational advances that enable commercial UAS operations. In addition, solutions providers have been lacking in properly explaining the benefits of drone use, for a wide range of applications areas, to corporate decision-makers.

现阶段，群众的生活质量提升，智能手机及平板电脑等终端用户数量呈现爆发式增长，移动互联网APP市场进入迅猛发展阶段。近几年，手机APP市场进入全新的发展阶段，给人民群众带来便利的同时，也带来了安全隐患，尤其是个人隐私信息泄露事件频发，导致群众的生活质量无法得到保证，甚至一些不良电话及信息对群众的精神健康产生影响。泄露的个人信息还可能被犯罪分子利用，进行违法犯罪活动，进而影响到我们的财产甚至生命安全。对此，我国应当认识到APP权限管理的意义，认识到APP使用过程中对个人隐私的威胁，根据实际情况制定用户隐私保护方法，为群众安全使用APP奠定坚实的基础。

近几年，我们共睹了物联网技术的飞速发展，见证了物联网技术给各个行业生产、运营带来了巨大优势，但是，在物联网技术得到快速推广与广泛应用的同时，其硬件设备的安全性也不断面临新的挑战。安全漏洞的存在与蔓延会严重影响物联网技术的持续广泛应用与高质量发展，于是深入探究物联网设备安全漏洞挖掘技术是一项非常紧迫的任务，文章对其所面临的挑战与机遇进行了深入分析并发表了见解，供相关专业人士参考。

室内无线通信网络的覆盖问题日益重要，本文对5G时代下室内如何规划深度覆盖进行了详细分析研究，提出了5G室内深度覆盖规划面临的问题及解决方案，对5G网络规划建设有一定指导意义。

科技的进步带动了物联网行业的迅速发展，5G技术已经逐渐走入人们的生活，并在物联网系统中得到广泛应用，随之而来的物联网通信抗干扰问题，引发人们的普遍关注。对物联网通信干扰情况的应对，影响着物联网技术体系的发展速度。在这样的情况下，对5G技术背景下的物联网通信抗干扰技术进行研究，具有较为重要的意义。本文对5G技术背景下物联网通信面临的挑战以及相关技术问题进行了探讨。

IP业务终端良好的发展趋势为卫星通信系统发展奠定了基础，在以卫星IP网络为基础的卫星应急通信系统中，电话软交换技术将模拟语音、IP语音以及传统的PSTN语音互联互通，使卫星应急语音通信IP化和无线化。文章对软交换技术在卫星IP网络中的应用进行探讨，促进卫星通信话音业务的能力提升。

量子计算是量子信息技术的研究热点，具有经典计算无法比拟的强大并行计算处理潜力，已成为世界各国在量子信息技术领域的布局推动重点。对量子计算技术的研究进展进行了分析，探讨了未来的发展趋势，讨论了应用探索的发展情况。

本篇报告我们详细分析了美国优秀SaaS 企业的商业模型，增长动 力及竞争态势，并从基本面出发研究了其估值方式。另对中国SaaS 行业路径做出探讨。 美国SaaS 长期高估值源于其优秀的商业模式：具体体现在：1）同 边及跨边网络效应显著，规模形成护城河。根据SaaS 企业所处赛 道，其可产生同边（比如zoom）、跨边（比如salesforce）、数据 （比如snowflake）等多种网络效应；2）客户转换成本高，其有助 于留存现有客户。我们样本中36 家SaaS 公司净美元留存率（NDR, net dollar retention）介于 80% 到 130% 之间，中位数超过 100%，与 初始上市时的水平基本持平；3）规模效应强、经营杠杆显著，即 随着收入增加，边际成本显著下降，及运营杠杆体现明显。因此成 熟的SaaS 企业如Adobe, Zoom, Oracle 大多保持70%-80%毛利率以 及20-40%净利率水平；4）订阅及预付模式下、现金流状况好，得 以支持未来发展，并促进了以产品价值为核心的良性竞争局面。因 此，我们认为远期企业价值/营收倍数（forward EV/S）是为SaaS 企业估值较为合适的方法，其考虑了SaaS 企业强劲的现金流创造 能力，以及订阅模式和网络效应带来了收入增速确定性，并避免了 高增长阶段 SaaS 公司的负利润率情况（因其投入前置，且收入确 认较为缓慢）。长期来看，EV/S 由企业定价权与利润水平所决定- 在5%的永续增长以及30%利润率假设下，SaaS 企业远期EV/S 可达 6~8x。

核心观点：9 月27 日，PICO 在国内召开发布会，发布新品VR 一体 机PICO4。根据搜狐援引36 氪，相对前作，PICO4 配备了1600 万 像素的RGB 摄像头，4K+级别的超视感屏，以及基于Pancake 折叠 光路方案和前后平衡式的设计，头显重量明显减轻，佩戴舒适度有 所改善。定价来看PICO4 8GB+128GB 版本售价为2499 元， 8GB+256GB 版本售价2799 元。我们认为，相较海外发布会的价格 更低，考虑到此前quest 系列产品提价，PICO4 在价格上相对竞品 将更有吸引力。目前PICO4 已经在天猫、京东、抖音等各大渠道开 启正式销售。根据Wellsenn XR 的数据，今年一季度和二季度，Pico 出货量分别达到了17 万台和26 万台，全球市场份额占比分别为 6.18%和11.16%，今年上半年出货量已经接近去年全年，我们认为 下半年随着新品PICO4 的推出，国内VR 设备销量有望突破增长， 目前优质VR 内容仍极为稀缺，重点关注和字节跳动合作的相关生 态合作伙伴。

车载激光雷达市场方兴未艾。2021 年，激光雷达市场规模达21 亿美元，其中地形 测绘为最大应用领域，占比高达60%。不过，根据Yole 预测，随着汽车智能化的推 进及高级别自动驾驶技术的发展，到2027 年，全球激光雷达市场规模将达63 亿美 元，其中汽车ADAS 激光雷达市场将在未来5 年迎来飞速增长，22-27 年的年均复 合增长率高达73%，市场规模预计从2021 年的3800 万美元增至2027 年的20 亿 美元，将成为激光雷达行业最大的应用领域。同时，无人驾驶出租车市场也将以 28%的年均复合增长率（2022-2027 年）增长，到2027 年市场规模将从2021 年的 1.2 亿美元增长至6.98 亿美元。

本轮信创相比于往存在党政和行业信创共振、客户要求提升倒逼的细分环节集中度提升、带动软件行业正版化率提升和信创带动软件应用端景气度提升。我们认为，新一轮信创将进入“从1 到3”高速成长的扩容阶段，党政和行业信创市场具备巨大的替换空间。复盘历次信创行情演绎过程发现，“规划预期”、“订单落地”、“业绩兑现”的早期阶段，都是相对较好的投资机会，同时行业内部存在核心向二线扩散，份额优势个股表现强势等规律。当前处于新一轮信创产业机遇起步阶段，建议关注基础软硬件产品型公司和新一轮新增的需求领域。