2019 年 1-10 月固定资产投资累计同比增长 5.20%，相对上半年有所下降，其中基建/ 房地产/ 制造业/ 采矿业投资分别同比增长3.26%/9.60%/2.60%/25.10%。

2019 年计算机行业取得明显超额收益。2019 年初至12 月20 日，申万计算机指数上涨49.55%，领先上证综指29.06 个百分点，领先沪深300 指数16.12 个百分点，在申万一级行业中排名第4 位，仅次于电子、食品饮料和家用电器行业。行业个股涨跌幅中位数为35.55%，明显低于行业指数涨跌幅，市场热点集中在政策导向和具有逆周期属性的细分领域，包括自主可控、金融科技、信息安全、ETC 和医疗信息化。

近几年，包括蔚来汽车、拼多多和瑞幸咖啡等一大批亏损公司陆续上市。如何看待这些通过持续亏损来实现闪电式扩张的公司呢？本报告将以拼多多和瑞幸咖啡为例，来看烧钱背后的长期价值。

2017 年TPMS（Tire Pressure Monitoring System，胎压监测系统）政策落地，要求2020 年1 月1 日起在产车型出厂全面强制安装TPMS，行业景气度有望提升。芯片是TPMS 核心部件，长期被国外厂商垄断，随着国产技术的成熟和市场空间的打开，国产TPMS 芯片有望迎来快速发展的良机。四维图新11 月26 日公告，其子公司杰发科技已成功研制TPMS 芯片AC5111 并具备量产能力。我们认为，杰发TPMS 芯片有望逐步从后装市场进入到前装市场，或将逐步放量。

2019年年初至今，计算机行业整体涨幅显著。截至2019年12月17日，计算机指数（中信）上涨51.94%，领先于上证综指29个百分点。市场整体在5月份下跌后有所回升，计算机指数始终领先于上证综指。

A robotic fueling system has the advantage of preventing human contact with potentially dangerous fumes, avoiding driver’s exposure to extreme hot or cold temperatures during fueling, and reducing the labor costs associated with full service fueling stations. A robotic fueling system consists of five main subsystems: control system which include user interface, processor, and logic schema; sensor system for vehicle positioning and identification, robotic arm, fuel dispensing nozzle, and the fuel port interface.

The Europe mobile cardiac telemetry systems market is estimated to grow at a CAGR of 13.0% from 2019 - 2027. The market of mobile cardiac telemetry systems in the Europe region is majorly contributed by the Germany and Germany is the largest market for the mobile cardiac telemetry systems. The growth of the market is defined by the products developments done by the companies in the country like Germany and UK. The top 10 industry players operating in the market of mobile cardiac telemetry systems across the globe includes Medtronic, BioTelemetry Inc., Applied Cardiac Systems, Inc, Medicomp Inc, Preventice Services, LLC, The Scottcare Corporation, Medi-Lynx (Subisidiary Of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC.

Application modernization tools help in the transformation of legacy applications to enhanced, modern applications or platforms. The major components consist of assessment, migration, replatforming, integration, recoding, rehosting, rearchitecting, reengineering, remediation, retirement, and replacement. Application modernization tools are affected by factors such as the size of the economy, GDP growth, IT infrastructure development, technology adoption, and regulatory policies. These factors vary from one country to another and affect the application modernization tools spending in that particular country. Due to the increasing need for integrating the existing legacy applications and databases with new applications, which exploit the extranet, internet, eCommerce, and other new technologies the application integration tool market is expected to grow during the forecast period. Additional major factors that are contributing to the positive growth of application modernization tools market include rising need for business agility and the adoption of cloud computing in the application modernization strategy.

The data converter that helps in converting data from analog signals received from environmental phenomena digital signals is known as analog to digital converter (ADC or A/D converters). The entire conversion includes several steps, such as sampling, quantization, and coding. The ADCs are the essential converters as environmental analog values are supposed to be converted to digital values for processing with a digital computer. There are varied types of ADCs present in the market such as; simultaneous or flash A/D converters, tracking-type A/D converter, counter-type A/D converter, successive approximation type A/D converter, sigma-delta A/D converter, and single-, dual- and multislope A/D converters. These ADCs has its usage in a number of applications including digital signal processing (microcontrollers, TV tuner cards, digital storage oscilloscopes); scientific instruments (digital imaging systems, temperature sensors, radar systems); and digital audio (sound recording, digital audio workstations, and, pulse-code modulation).

Casino gaming equipment such as slot machines, gaming tables, video poker machines, VLTs among others facilitate smooth day-to-day casino operations. These sophisticated gaming equipment are the back-bone of the gambling industry where casinos are the major revenue contributors. The sale of gaming equipment is proportional to the growth in the gambling market worldwide. Gambling is an activity where one wagers money or something of value on events with uncertain outcomes. When permitted by the law, gambling is often referred to as gaming in many countries. Consideration, chance, and prize are the three major elements of gambling that need to be present. Some of the major gambling activities are poker, casino, betting, and lottery.