宠物医疗指对宠物的疾病进行预防、诊断和治疗，为解决宠物病痛所进行的活动。宠物医疗主要分为宠物疫苗、宠物体检、宠物绝育、疾病诊疗及宠物护理五大类。宠物医疗是宠物消费市场中 的重要组成部分，具有刚需属性，其消费占比仅次于宠物食品。城市级别对宠物到院就诊数量具有多方面的影响。现阶段宠物医疗资源分布具有明显的地域特征，与地区经济发展水平、人口密度、宠物饲养习惯等因素有关，未来各地区间的宠物医疗资源差异可能会进一步缩小。随着中国宠物饲养者人数逐渐增多及宠主对宠物健康的重视，宠物医疗市场规模有望迎来进一步扩容，预计到2028 年，中国宠物医疗行业市场规模将达到1,143.5亿元。

This report provides a comprehensive and current market scenario of the GLOBAL BIOPHARMACEUTICAL CONTRACT MANUFACTURING (BCM) MARKET, including market size, anticipated market forecast, relevant market segmentations, and industry trends.

Biopesticides are natural or biologically derived agents used to manage pests, diseases, and weeds in agriculture. They include microorganisms (e.g., bacteria, fungi, viruses), natural substances (e.g., plant extracts and pheromones), or genetically engineered organisms. Biopesticides are eco-friendly, target￾specific, and often less harmful to humans and beneficial species compared to synthetic chemical pesticides, promoting sustainable pest control.

Bio-based resins are sustainable, environmentally friendly polymers derived from renewable biological sources such as plants, vegetable oils, and agricultural waste. Unlike traditional petroleum-based resins, bio￾based resins reduce carbon emissions and reliance on fossil fuels while offering similar or improved performance characteristics. They are used in various industries, including packaging, automotive, construction, and consumer goods, with biodegradable and non-biodegradable options available.

Artificial intelligence in asset management refers to the use of advanced technologies such as ML and natural language processing to analyze large sets of financial data, make predictions on trends and market movements, and help asset managers make informed investment decisions. artificial intelligence can help identify potential risks and opportunities that may have been missed through traditional methods, leading to more efficient and profitable portfolio management. Additionally, artificial intelligence can assist in automating certain processes such as portfolio rebalancing and risk management.

光学，具身智能之眼。具身智能时代，手机、智能车、无人机、机器人、可穿戴等多场景的硬件设备都在迎来 AI 创新的浪潮。视觉是具身智能和世界产生交互的核心感知环节。我们认为，舜宇、瑞声、丘钛等头部光学厂商有望显著受益于具身智能多场景的光学需求所带来的成长性。

环保板块上周涨跌幅。1）上周环保、燃气、水务、电力（申万指数） 分别波动+2.29%、-0.41%、+0.98%、-0.51%；创业板指、上证综指、 深证成指分别上涨 3.24%、1.56%、2.19%。2）上周环保个股涨幅前 五名分别为：三德科技（+36.67%）、宁水集团（+31.87%）、嘉澳环 保（+21.41%）、青达环保（+14.15%）、三联虹普（+13.69%）。3）跌 幅前五名分别为：威派格（-14.56%）、安车检测（-6.04%）、长青集 团（-4.91%）、兴源环境（-4.10%）、洪城环境（-3.41%）。

军工检测：顶层强调如期完成军队建设“十四五”规划既定目标任务，看好全年军工检测订单 加速释放。检测服务贯穿军工装备研制生产过程的全流程，涉及环境可靠性试验、电磁兼容、 软件测评、计量校准、材料测试等多方面。2023Q2 以来，在军工行业特殊事件影响下，部分 军工检测新增订单增速放缓，且订单执行周期拉长，整体收入确认滞后，军工检测公司业绩承 压。3 月初的全国人大解放军和武警部队代表团会议上，习近平主席提出要“坚定信心、直面 挑战，落实高质量发展要求，如期完成既定目标任务”，我们预期 2025 年将迎来军工检测订单 的快速释放期。苏试试验、广电计量、谱尼测试、信测标准等检测企业均有军工检测相关布局。