也再度验证我们曾经说过的——新的事物、新的产业会刺激人的热情，会给人画出一张巨大的饼，让你的投资抉择直接过滤掉PE、PB 等指标，只被那张饼诱惑，去遥想未来N 年之后可能的极为灿烂的景！而这一特征又是人之共性，就导致新的事物新的题材在股价表现上令人叹为观止！

美国的FOF 概况：仍美国经验看，中国FOF 未来或将以混合型、股票型为主，呈现低费率、高集中度的市场格局。①美国共有1266 只FOF，管理资产1.31 万亿美元，占比6.88%.美国FOF 以资产配置型、股票型基金为主。②FOF 市场份额高度集中，前十的市占率在75%以上。③FOF 费用较低，一般低于1%，呈现逐年下降的趋势。

A beginner microscope falls under the category of simple optical microscopes or magnifying toy microscopes and are used by students in primary and secondary schools. In comparison with compound microscopes, beginner microscopes are low power, low-cost instruments that have limited resolving power and application. The end-users of these microscopes are children in the age group of 6-12 years.

科大讯飞是一家专业从事智能语音及语言技术研究、软件及芯片产品开发、语音信息服务及电子政务系统集成的国家骨干软件企业。公司作为中国智能语音与人工智能产业领导者，在语音合成、语音识别、口语评测、自然语言处理等多项技术上拥有国际领先成果。目前公司智能语音核心技术代表世界最高水平，在中文语音市场占有50%以上份额，处于智能语音产业绝对龙头地位。

磁分离到超磁分离，公司产品应用领域全面扩展：环能科技是国内最早专注于磁分离水体净化技术研収与应用的企业乊一。早期以磁分离水体净化技术起家，主要用于冶金浊环水领域。公司于2010 年成功研収出超磁分离水体净化技术，可广泛用于煤矿矿井水处理、黑臭水体治理等领域，极大打开了公司的成长空间。

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.

Biosensors were first introduced in 1962 with the development of enzyme electrodes by scientist Leland C. Clark. Since then, research communities from fields such as very-large-scale integration, chemistry, physics, and material science have come together to develop more reliable, sophisticated, and mature biosensors. These biosensors have been used in the fields of medicine, biotechnology, and agriculture, as well as military and bioterrorism detection and prevention.

The T&M market in South Korea is a dynamic and steadily growing market. The use of T&M is growing in different high-tech sectors, which is enabling them to expand worldwide. T&M companies offer essential products and services to a wide range of end-users that help their customers to enhance quality, health, safety measures, productivity, and compliance in various applications.

A ground station is a terrestrial radio station designed for extra-planetary telecommunication with spacecraft or reception of radio waves from astronomical radio sources. Satellite ground station network includes fully integrated, cost-effective and automatic ground stations to enable worldwide real-time satellite operations. Ground station components include radio frequency (RF) equipment, intermediate frequency (IF) equipment, control and monitoring, measurement and test equipment, and system enhancements.

我们判断当前大概率处于第四轮运算平台“智能时代”的“估值炒作“期，而且当前”偏硬件“的主题明显跑赢”偏软件“的主题，而之后”偏软件“的主题预计会逐步跟上。