较2 月份的第一版主要调整内容包括：明确户用分布式度电补贴为0.08 元/kWh，并将一、二、三类资源区地面电站指导电价上调为0.35 元、0.4 元、0.49 元/kWh，比之前各提高0.02 元/kWh，工商业分布式补贴上限维持0.05 元/kWh 不变。我们认为户用光伏度电补贴较为超预期，与上调指导价一起将释放更多年内光伏竞价项目空间，对冲公共卫生事件影响，政策推动内需释放的态度已经非常明确。

疫情影响下，PMI 断崖式下跌，工业机器人短期需求或遭冲击，行业长期发展潜力巨大。继2020 年1 月份制造业PMI 已回落至荣枯线50%，2 月份PMI 大幅下跌至35.7%，较前值回落14.3pct，下游制造业对工业机器人的短期需求受到冲击。但是长期来看，疫情有望催生企业自动化需求，目前行业也积极推进国产化与国际化的进程，推进跨界合作寻求新发展。随着国内产业链逐步完善，此轮行业复苏将伴随着国产化率的提升。建议关注具有核心技术、未来有可实现国产代替进口潜力的机器人企业。

GaN 射频器件具有高频、高功率、宽带宽、低功耗、小尺寸的特点，

能在5G 时代节省宝贵的PCB 空间，并达到良好的功耗控制。GaNon-

Si 有望挑战BTS 和RF 功率市场中现有的LDMOS 解决方案。到

2024 年GaN 射频市场空间可达20 亿美元，CAGR 达21%，主要由

军用雷达和无线基础设施市场拉动。全球市场主要由以Cree 和住友

电工为代表的美日企业统治，国内厂商如三安光电、海特高新、华进

创威在GaN RF HEMT 领域有一定实力。

本周（2.3-2.9）受疫情影响，节后首日大盘剧烈下挫，后
走出反弹行情，医药、计算机、传媒等行业涨幅居前。1）指数方面，上证
综指下跌3.38%，创业板指数上涨4.57%，国防军工指数下跌0.78%，跑
赢大盘2.59 个百分点，排名第9/29。2）个股方面：大立科技（+55.67%）
领涨，高德红外（+34.79%）等涨幅居前；尚纬股份（-23.24%）、*ST 航
通（-22.56%）等跌幅居前

军工行业的产业链归类比传统工业行业的层级要多，由装备的高复杂性
带来的技术分类更为严格，军工行业在生产制造的角度上分为主机厂、分
系统企业、零配件企业三大类。内贸过程中不存在经销商，外贸经销商由
军工集团出口公司担任。

2019 年12 月国内工业机器人产量20014
台，同比增长15.3%。自从2019 年10 月结束了连续13 个月由于宏观经济下
行导致的增速下滑后，增速逐月扩大。并且从减速器订单等前置指标以及相关
行业指标的佐证，我们认为工业机器人行业转暖信号已现。支持复苏的理由：
（1）制造业投资有望在2020 企稳；（2）下游主要应用需求增高，汽车行业
产销量边际好转，新能源汽车提供了新的增长点，3C 行业受益于5G 渗透率
的提升，固定投资完成额提升明显。

Historically, there have been instances of men and women using hair wigs and extensions for several purposes including trying out different hairstyles, using colored hair to change their appearance, and covering bald patches of the head. Currently, hair loss is a serious health issue. Hectic lifestyles and improper consumption of essential nutrients have adverse effects on the human body. From invisible effects such as general weakness, reduced stamina, sleep problems, and hectic lifestyles can cause several hair problems. Alopecia, receding hairline, and pattern baldness are more common in men while hair thinning is more common among women.

Eye injuries in the workplace are very common. The National Institute for Occupational Safety and Health (NIOSH) reports that every day about 2,000 US workers sustain job-related eye injuries that require medical treatment. However, safety experts and eye doctors believe the right eye protection can reduce the severity, or even prevent 90%, of these eye injuries. Countries with advanced safety, like the United States, Canada, and much of the European Union, have a respected and sophisticated system of regulations and execution that is designed to add pressure on companies to provide safe workplaces. Developing countries do this only as required, but they have started to create legislation for safe workplaces, better worker housing, environmental protection, etc.

The report on global golf equipment market focuses on different types of golf products available in the market. It also analyzes sports associations' regulations & policies to provide information on the current market trends in different geographies and suggests the future growth opportunities. In addition, the report covers the overall value of different types of golf equipment, namely, golf clubs, balls, shoes, headwear, and others.