板块成长性：显著优于 A 股同类板块，及新三板整体。新三板 TMT 板块（计算机、通信、互联网）共 2400 家企业公布了 2016 年年度报告，共实现营业收入 3108.5 亿元，同比增长 36.8%，高于 A 股的 11.8%，高于三板整体的18%；实现归属挂牌公司股东净利润 141.1 亿元，同比增长23.0%，高于 A 股的 0.9%，高于三板整体的 11%。（1）计算机板块，2016年实现收入 1469.7 亿元，同比增长 23.7%，实现归属净利润 123.1 亿元，同比增长 5.1%；（2）通信板块，2016 年实现收入 441.8 亿元，同比增长23.9%，实现归属净利润 30.5 亿元，同比增长-2.6%；（3）互联网板块，2016 年实现收入 1197 亿元，同比增长 64.5%，实现归属净利润-12.5 亿 元。

5 月 8 日，国务院总理李克强考察河南自贸区开封片区。这里在三证合一、五证合一基础上，按照国务院多证合一要求，整合为二十二证合一，以减证带动简政。李克强称赞道，创建自贸区目的是打造改革开放高地，最终要让审批程序越来越简，监管能力越来越强，服务水平越来越高。考察河南自贸区开封片区综合服务中心得知，当地通过“放管服”改革，新登记注册企业时间缩短 4/5。李克强表示，开封既不沿海又不沿边，但通过自贸区试验照样创出了一流经验。

4 月 26 日，国务院办公厅印发《关于推进医疗联合体建设和发展的指导意见》。《意见》提出，2017 年，全面启动多种形式的医联体建设试点，三级公立医院要全部参与并发挥引领作用，综合医改试点省份每个地市以及分级诊疗试点城市至少建成一个有明显成效的医联体。到 2020 年，在总结试点经验的基础上，全面推进医联体建设，形成较为完善的医联体政策体系。

来自于增量和存量的共振。本轮工程机械的需求结构区别于以往，需求主要来自于增量需求与存量更新需求的共振。增量需求方面，结构性差异也是区别于过往的，跟我们的测算，地产对工程机械的拉动贡献正在逐步减弱。而存量更新需求，随着保有量增速逐步趋向于零，存量设备加速出清，更新需求将会得到逐步释放。

2016 年，证券行业受市场行情影响，业绩大幅下滑。而2017 年开始，通过上市券商以及协会公布的月度数据来看，券商业绩较2016 年已出现较为明显的增长。目前，券商股仍有配置价值，主要是由于目前估值仍然较低，存在一定安全边际；在大盘企稳回升时业绩有望触底回升，且弹性较好；此外，未来行业还可能受益于市场开放、业务创新等政策红利。

券商业绩受自营影响先升后降。2017 年一季度券商业绩一度受自营业务和信用交易业务回暖的驱动，但2017 年二季度以来股市、债市双双走弱，4 月上市券商净利润增速扭正为负（MoM -62%，YoY -25% ），券商自营面临浮亏风险。

为防范系统性风险的出现，监管机构 2017 年全面收紧对银行业监管的力度，调整 MPA 监管标准是其重要手段之一。为防范流动性投放过多的风险，央行将 MPA 体系中的核心指标——广义信贷增速的核算口径扩大，在核算口径中加入了表外理财。

Many manufacturing companies need product lifecycle management (PLM) software as it deals with various functional levels of an organization such as design engineering, product designing, and manufacturing. The need for managing a product during the manufacturing process has led to the emergence of PLM software and services. The growing product complexity and increase in product portfolio across organizations have led to increased demand for a system that can offer solutions to the production process across industries. The implementation of PLM in an organization provides higher revenue, reduces cost, and increases capital efficiency.

A casino is more of a tourist attraction and indoor amusement zone. It offers services in hotels, restaurants, and shopping malls. The majority of the revenue comes from gambling. Casinos are concentrated in certain regions because gambling is illegal in several parts of the world. However, a large number of countries are easing regulations to support the growth of casinos because they are becoming very popular and are contributing significantly to a nation's economy in the form of tax.

The global automotive differential market is categorized as AWD market and 2WD market based on the type of the differential mechanism installed in the vehicle. There is an increasing demand for AWD from emerging countries such as China, India, Brazil, and South Korea. The emerging countries are estimated to have the highest growth rate in these regions, contributing to the growth of the global automotive differential market. The market for 2WD is declining as the penetration in APAC, Europe, and the US has declined due to the increasing volume and growth of AWD systems. The open differentials are increasingly being replaced by more efficient and compact electronic limited slip differential units such as eLSD for fuel efficiency as part of vehicle electrification trend.