电改跟踪报告： 我们认为能够通过提供节能改造、设备托管运维、能效管理等增值服务不断抓住新用户的公司以及以用电数据为基础的大数据分析公司将享受电改红利，其中，有电网和园区资源背景的公司能够率先抢占用户资源，并将资源逐步兑现成利润，推荐能够为客户提供一站式的综合能源服务解决方案的智光电气，以及深度绑定贵州园区内用户的北京科锐。我们还看好负荷地区火电机组。外来电占比越高的区域，区域内机组利用小时数弹性越大，推荐上海电力、东方能源。

The global chip manufacturing business is focused on reducing the semiconductor chip size and designs. This has been a trend in the semiconductor industry since 1965, with historical facts suggesting comprehensive growth of the market largely due to the continual reduction of cost per function performed by ICs. Growing improvements in the IC structure, i.e., increasing density of circuits, has resulted in compact and lowcost ICs. In addition, these devices gain better performance capabilities due to growing density (use of 3D architecture) that helps them execute a large number of functions at high speed with low power consumption. Thus, the demand for production equipment capable of producing advanced ICs in high volumes at the lowest possible cost is anticipated to grow during the forecast period.

Magnetic field sensors are devices used to sense and study the magnetic field around electrical devices, permanent magnets, and coils. These sensors are made of rotating sensor tip that measures transverse and longitudinal magnetic fields. Traditional magnetic field sensors facilitated navigation on oceans by sensing the magnetic poles of the Earth. Since then, the application of magnetic sensors has expanded to industrial use, for the detection of a magnetic field's strength, presence, and direction from soft magnets, permanent magnets, brain wave activity, vehicle disturbances, and fields generated from electric currents. Magnetic sensors are the primary navigation means for industrial control systems. The increasing demand for compact size, improved sensitivity, and compatibility to control systems has driven the need for magnetic field sensing technology.

Airport e-gates are replacing the manual verification and validation at the arrival and departure terminals. Manual checking could lead to human errors, resulting in the bypassing of a potential threat. This also leads to long waiting queues in the airport, which, in turn, lead to dissatisfied customers.

Lyophilization or freeze drying is a dehydration process used to preserve perishable materials and transport them easily. It is an efficient method for drying various unstable, heat-sensitive, and aqueous products in various industries. The process is widely used in the pharmaceutical and biotechnology companies to stabilize, store, and increase the shelf life of drug products and other biological molecules such as antibodies, proteins, hormones, enzymes, blood plasma, and bacteria-derived compounds, without affecting their internal physical structure. The process removes 95%-97% of the moisture or solvent from the products and provides a prolonged storage. Freeze drying also helps produce tablets or wafers for easy dosage administration.

总结德国制造的四大独特基因：1）执着、追求完美、严谨的民族性格；2）职业教育及工会组织，培育和守护优秀制造业者；3）悠久研发体系及家族企业；4）硬件自动化+软件信息化，率先进入工业4.0 时代。“不忙碌”，是对德国企业和产业工人的第一印象，但效率惊人，以宝马工厂为例，对外宣称60 秒下线一辆宝马7 系轿车。

消费级无人机与传统的航模玩具在许多方面有着类似的特性，是否配备自动驾驶以及是否具备智能自主性是区分两者的主要因素，也正是随着开源自动驾驶仪这一核心技术的飞速发展和应用，让消费级无人机产品迅速走向了大众，打开了人们观察世界的新视角， 而大疆近期发布了新品Mavic，将无人机推向了小型化市场。

交通是经济社会发展的基础和纽带，对城市群的形成和发展具有重要的支撑和引导作用。就国内而言，要建立互联互通的交通基础设施网络，就需要以轨道交通作为主体和骨架。

服务机器人产业链目前呈现出几大特点：（1）核心技术和产品相互交叉缠绕，互相推动，技术推动产品迭代，产品开发反哺技术革新；（2）按照业务属性逐渐分化为平台型企业和应用级企业，平台型企业更多专注于上游核心部件和入口级技术，应用型企业专注于应用场景的产品深度开发；（3）从产业应用方向来看，智能交互和特定场景的机器人开发是发展方向，教育机器人是最大的细分应用领域；（4）A股服务机器人企业较少，大多通过外延方式切入，大部分企业是以初创型草根企业为主。

国家产业升级需要加大科研投入发展高端制造、高科技产业，也是跨越中等收入陷阱的唯一出路。近期《“十三五”国家科技创新规划》发布，我国科研经费每年投入已超万亿元，但GDP 占比较发达国家仍有差距。