二战中航空母舰的出色表现彻底改变了现代海军作战方式，从单一的水面舰艇战斗转变为海空立体攻防。航空母舰作为舰队核心主要承担对陆、对海的空中打击力量投射的任务，投射效率与生存能力决定其在战争中能否形成有效打击力量；驱逐舰作为

航母编队的关键组成力量，担任着防空反潜保护航空母舰的重要任务，可以满足防空、反潜、对陆投送武力等多种作战需求。

This report covers the present and future growth prospects of the global safes and vaults market in the banking sector for the forecast period. The safes and vaults market in the banking sector covered in this report excludes all applications of safes and vaults used in sectors other than the banking sector. The report considers three major segments of safes and vaults based on the type of product, such as cash management safes and vaults, depository safes, and other safes, including jewelry safes and fireproof document safes. The market is divided into APAC, EMEA, and the Americas in terms of geography.

上周电力、燃气、水务、环保工程板块申万二级指数涨跌幅分别为-0.70%、-0.24%、-0.38%、-4.48%；上证综指和创业板指数涨跌幅分别为1.72%、-3.22%。

上周板块跌幅明显，公用事业与环保板块下跌1.85%。上个交易周，沪深300 上涨1.43%,上证综指上涨1.72%,创业板指下跌3.22%。申万公用事业与环保板块下跌1.85%，涨幅前三名的是新能源发电(申万)（0.66%）、燃气Ⅲ(申万)（-0.24%）、水务Ⅲ(申万)（-0.38%）涨幅后三名的是燃机发电(申万) （ -4.99%）、环保工程及服务Ⅲ (申万)（ -4.48% ）、热电( 申万) （ -4.25%）。

火电效率边际改善，关注改革与重组。中电联数据显示，2017 年全社会用电量63077 亿千瓦时，同比增长6.6%，发电量64179 亿千瓦时，同比增长6.5%。其中火电发电量同比增长5.2%，利用小时4209小时，同比增长23 小时，发电效率得到一定程度改善，未来若煤价企稳措施见效，则火电企业盈利改善有望逐渐显现，现阶段我们建议继续关注央企改革及重组带来的主题性投资机会。

Content protection is a process designed to impose copy protection restrictions in storage media. It helps to authorize the commercial and entertainment content and protects it across various digital interfaces such as the Internet and media devices. As a part of antipiracy, content protection systems are designed to provide value-added services to content owners who distribute their services to customers. Therefore, in the digital world, content protection is mainly about confidentiality and legal concerns of the content. As online piracy accounts for the loss of billions of dollars, antipiracy and protecting copyright material is a major concern. Media and publishers are increasingly protecting their content from being stolen or illegally produced. Content protection is enhanced through various solutions to offer multi-device use while protecting the linear and on-demand content. Content providers and distributors use security implementations on connected devices to protect the streaming of high-value content, such as 1080p, 4K, and ultra-high definition (UHD) using software and hardware technologies that are cost-effective. The types of content protection can be broadly fragmented into conditional access system (CAS), digital rights management (DRM), and watermarking.

2018 年的重点是业绩反弹，建议关注新型号批产带来的业绩放量。2016~2017年受军改的影响，订单释放不达预期，预计2018 年军改影响有望结束，订单和回款将逐步释放，重点关注产品在飞机、导弹、陆军车辆等型号有应用的企业。资产注入预计会在2018 年下半年至2019 年上半年启动，时间上存在博弈，难以确切把握，可在2018 年买入布局，建议关注电子科技集团标的。定价机制改革预期不应过高，参与需谨慎。