公司非公开方案拟募集资金不超过48.96 亿元加码通航产业，受益反恐维稳和农业现代化两大盛宴，通过警民两用打开成长空间。

军民融合有望加速推进，军工板块持续看好。军转民看好北斗导航、通用航空领域。民参军政策落地持续推进，未来市场空间广阔。

智慧城市?并非新的概念，我们之所以持续推荐?智慧城市?相关标的，是我们看到智慧城市作为政府城市治理的系统性工程，推进的核心在于政府治理方式真正实现转变。经过近三年的探索，智慧城市推进慢的相关因素弱化，企业参与智慧城市建设的模式逐渐被市场接纳。政府放开资源搭建开放平台（2015 年8 月19 日国务院常务会议通过《关于促进大数据发展的行动纲要》，强调政府数据融合、开放和安全），将部分城市治理问题交给市场（上海优先放开政府1000G 交通数据，借助?众创+大数据?模式，解决城市管理问题），是政府解决政府治理问题的更为有效的手段。我们看到，智慧城市建设，已从过去中央政策下达、地方政府进展缓慢转变为地方政府领导主管智慧城市建设，进展明显提速。各省市智慧城市建设规划与政策逐步落实，仅武汉一地明确智慧城市投入817 亿。?互联网+政府?的逻辑不断被确立，智慧城市作为?互联网+政府?的有效治理形式，其万亿的市场价值将逐步被市场认可。

军改催生市场热点，军民融合持续升温，题材切换风向标，行业在震荡中前行。军改核心是军队组织形态的现代化，主要体现在军队编成结构变革、重点装备型号。研制列装、信息化能力提升和后勤维保体系构建，这是未来军工行业的长期催化剂。军民融合大势所趋，军工集团资产证券化和军用技术转民用是传统军工企业关注焦点，北斗导航、航空产业链和装备测试维保领域民参军企业将迎来重要发展契机。

通过回顾2015军工板块表现，说明军民融合迎来重大发展机遇以及两条主线。

军工集团在行业大发展的背景下，迫切需要资本市场进行直接融资、并购融资等，其结果就是资产证券化率的提升，这也是军民融合和混合所有制的体现。在资产证券化率提升的过程中， 经营效率会得到提升，军工上市公司的业绩也会得到增厚。

环保重要性大幅提升，政策转向建立收费机制。PPP 引领供给侧改革，订单加速释放、项目加速落地。

军改引领长期投资机会，投资策略要关注信息化、海军、空军、军民融合。

通过2015年军工板块表现回顾 ，提出了军民融合迎来重大发展机遇，以及军民融合两条主线。

智慧城市是近年来全球城市发展的热议话题，城市人口不断激增、资源紧缺、交通拥挤、污染加重、以及日趋复杂的社会和组织关系，管理者必须找到更为智慧的办法来管理城市。智慧城市本质是城市发展的一种新模式和新思维，与之类似的称呼还有数字城市、城市信息化、无线城市等等。那么这种新模式和新思维体现在何处？智慧城市到底智慧在哪？

为了保证收益水平，保险公司一方面投资收益高的非标资产，一方面积极配臵股票举上牌市公司。

 驱动行业发展三条核心逻辑——消费升级、政策引导、供需均衡度持续优化。

Border security forces restrict trans-border crimes, including smuggling and infiltration by illegal immigrants. These forces also aid in collecting trans-border intelligence. Border security includes air and marine forces, artillery regiments, and commando units. Manned systems are an essential part of any border security force. Manned systems include combat aircraft, vehicles, ships, and submarines. Unmanned systems and perimeter surveillance and detection systems are also gaining popularity, as they aid in ISR missions to collect enemy information and strategies.

Video surveillance involves monitoring or observing activities, behavior, and movements of an individual or a group of people to maintain enhanced security at a given place. It is used by retail stores, government departments, hospitals, transportation and logistics companies, and law enforcement agencies to prevent criminal activities. Integration of video surveillance solutions allows enterprises to enhance their surveillance capabilities through a centralized system.

There has been an increase in terrorism through sea routes, like the 2008 attacks on Mumbai, India, where terrorists gained entry with speedboats. The rise of piracy in the Gulf of Aden, between the Red Sea and the Arabian Sea, has also raised concerns regarding the efficiency of port security. These increases have also led to the modernization of weapons and equipment used by security agencies around the world.

Non-lethal weapons are used by the military and law enforcement services. In contrast to lethal weapons, which can cause casualties, non-lethal weapons help reduce fatalities. These weapons temporarily destabilize people, with little or no injury. The military and law enforcement officials use them primarily for dispersing crowds, controlling civil wars, and curbing protests. The global non-lethal weapons market will expand at a CAGR of 5.19% over the next five years. In 2014, the Americas led the market with a share of 41.85%, followed by EMEA with 38.12% and APAC with 20.03%.

Product lifecycle management (PLM) is used to manage a product, from its conception to the service and delivery of the manufactured product. Manufacturing companies need the PLM software to deal with various functionalities at different levels of an organization, including designing, engineering, and manufacturing of the products. Expanding product portfolios and the complexities involved in product development have boosted the demand for a system that can act as one-stop solution for production processes across industries. The implementation of PLM in an organization results in higher revenue, reduced cost, and capital efficiency.