（来源：淘金ETF） 1. 西子洁能（002534） 总部位于浙江杭州，是国内领先的清洁能源装备制造企业，旗下杭州众能光电深度参与国家重点研发计 划"高性能低成本钙钛矿光伏技术"，在太空光伏领域具备核心技术储备。主营业务覆盖新能源装备、光 伏材料及航天能源应用，依托在钙钛矿、柔性光伏等领域的技术积累，为太空光伏提供关键材料与解决 方案。太空光伏布局方面，公司聚焦高性能光伏材料研发，其钙钛矿技术可适配极端空间环境，已在航 天领域实现技术突破，未来有望成为太空光伏核心材料供应商。增长展望：随着太空光伏商业化进程加 速，公司在核心材料领域的技术优势将逐步转化为业绩增长，2026年有望受益于行业爆发，打开成长空 间。 2. 上海港湾（605598） 是国内基础建设龙头企业，旗下控股子公司伏曦炘空依托集团技术实力，在商业航天能源领域布局太空 光伏业务。主营业务包括基础工程建设、航天能源装备研发及太空光伏系统集成，聚焦空间太阳能电站 核心装备研发，为商业航天项目提供能源解决方案。太空光伏布局方面，公司深耕空间太阳能技术，开 发适配太空环境的光伏系统，已在商业航天项目中实现应用落地，未来将持续拓展太空光伏业务边界。 增长展 ...

转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院宠物芯片研究小组发布的《中国宠物行业（宠物经济）市场前景 预测与投资战略规划分析报告》。 行业主要上市公司：采纳股份(301122.SZ);康德莱(603987.SH);威高股份(01066.HK);正川股份 (603976.SH);山东药玻(600529.SH);旗滨集团(601636.SH);凯盛科技(600552.SH)等。 本文核心数据：全球宠物芯片频率构成、全球宠物芯片植入率、全球宠物芯片市场规模 1、全球宠物芯片频率构成：以134.2kHz频率为主 2024年全球宠物芯片的频率构成呈现高度集中的特点。其中，134.2kHz是绝对主流，占比高达81%，是 当前宠物芯片市场中应用最广泛的频率;125kHz作为次要选择，占比为 16%，具备一定的市场份额;而 128kHz的占比仅为3%，应用范围相对有限。整体来看，全球宠物芯片频率的分布差异显著，主流频率 的优势地位突出。 3、全球已植入芯片猫犬比重：犬类比重普遍高于猫类 全球已植入芯片的宠物中，犬类比重普遍高于猫类，且不同地区差异明显。中国犬类占比达90%，而猫 仅10%，美国、日本、欧盟犬类占比 ...

证券研究报告 工业/基础材料 上周国常会再次指出促进有效投资对于稳定经济增长、增强发展后劲具有重 要作用，提升 26Q1 投资稳增长预期，北方地区补齐防洪排涝抗灾基础设施 短板有望迎政策催化，防水及工程管材有望受益。上周玻纤电子布再度提价， 7628 电子布提价 0.5 元/米以上，幅度和时点均超市场预期，体现出高端电 子布景气"下沉"向普通电子布传导的特征。此外，我们继续看好商业航天 中高端材料需求，主要包括耐高温纤维材料、太阳翼能源系统中的钙钛矿材 料和 UTG 玻璃等细分品类。建议 26Q1 继续均衡布局新兴产业成长与传统 顺周期，重点推荐亚翔集成、精工钢构、中材国际、四川路桥、中国建筑国 际、中国联塑、凯盛科技、华新建材、北新建材、旗滨集团。 细分行业回顾：普通电子/纱布提价时点和幅度超预期 截至 2 月 6 日，上周全国水泥价格周环比-0.9%；水泥出货率 24.6%，周环 比/同比-7.8/+2.5pct。国内浮法玻璃均价 62 元/重量箱，周环比/同比 +0.4%/-17.8%，样本企业库存 4949 万重箱，周环比+0.4%。3.2/2.0mm 光 伏玻璃主流订单价格 17.8/10.8 元/ ...

证券日报网讯2月6日，凯盛科技（600552）在互动平台回答投资者提问时表示，公司建有完善的财务信 息系统，可满足日常运营需要。 ...

1. 新技术，渗透率快速提升期：柔性太阳能电池盖板，UTG较CPI份额提升。 在UTG单价较高的背景下，国内外太空光伏均在测试UTG以替代CPI。 消费电子领域UTG已完成对CPI的替 【凯盛科技】为什么会是太空光伏核心标的？ 0. 卡位：不论柔性太阳组件技术路线如何变革，砷化镓、HJT、钙钛矿，盖板材料选择不多；UTG是核心选择。 【凯盛科技】为什么会是太空光伏核心标的？ 0. 卡位：不论柔性太阳组件技术路线如何变革，砷化镓、HJT、钙钛矿，盖板材料选择不多；UTG是核心选择。 5. 地位：工程院院士领衔，新材料国家队，揭榜挂帅攻坚克难。 在UTG单价较高的背景下，国内外太空光伏均在测试UTG以替代CPI。 消费电子领域UTG已完成对CPI的替代。 2. 价值量：航天级UTG每平约1万+；批量化后良率改善/原片配方抗辐照等，长期可降低至5000元以下。 3. 稀缺性：国内唯一，原片-深加工-镀膜全国产化的企业；消费级在H公司已占据最大份额。 4. 进展快：24年开始对接航天场景，目前有千片级出货；产品已在轨测试，反馈良好。 1. 新技术，渗透率快速提升期：柔性太阳能电池盖板，UTG较CPI份额提升。 ...

Investment Rating - The report maintains an "Overweight" rating for the commercial aerospace industry, indicating a positive outlook for the sector in the coming months [1]. Core Insights - The commercial aerospace industry is expected to undergo a significant transformation by 2026, driven by advancements in launch capabilities and the successful deployment of domestic rockets, which will remove previous constraints on industry growth [8][9]. - The competition in commercial aerospace is fundamentally a "land grab" for space sovereignty and resource allocation, emphasizing the need for increased launch frequency to secure China's position in low Earth orbit [10]. - The report highlights the strategic importance of commercial aerospace in national defense and resource acquisition, particularly in the context of lunar resources like Helium-3, which could reshape global energy dynamics [12]. - Key catalysts for the industry include domestic policy support and capital market developments, with significant IPOs expected from leading aerospace companies in 2026 [13][15]. Summary by Sections 1. Why has the domestic commercial aerospace industry reached a qualitative change? - The industry has transitioned from a limited payload capacity to a robust launch capability, marked by the successful launch of the Zhuque-3 rocket, which signifies a shift from speculative themes to a narrative driven by operational capacity [8]. 2. How to understand the importance of commercial aerospace? - The scarcity of low Earth orbit resources has made the commercial aerospace race a critical national strategy, with the need to enhance launch frequency to secure space assets and maintain competitive advantages [10][11]. 3. What subsequent catalysts are worth paying attention to in commercial aerospace? 3.1. Domestic: Accelerated release of policy and capital dividends - The report anticipates significant policy support and capital market activity, with major aerospace companies expected to enter the IPO market in 2026, reflecting the strategic importance of the sector [13]. 3.2. International: Clear policy framework and tight planning timeline - The U.S. has shifted from a public to a private ownership model for space resources, establishing a legal framework that encourages commercial investment in space resource development [15][16]. 4. Investment Recommendations 4.1. SpaceX Concept - Companies that could potentially enter the SpaceX supply chain are highlighted, indicating a strong future in commercial aerospace [17]. 4.2. Rocket Sector: "Many Stars, Few Rockets" Expected to Breakthrough - The report suggests that advancements in large-capacity reusable rocket technology will lead to significant changes and valuation adjustments in the sector [19]. 4.3. Satellite Sector: Certainty in Implementation - The urgency to secure low Earth orbit resources is driving domestic satellite constellations from planning to large-scale deployment [20]. 4.4. Space Computing and Space Photovoltaics: Next-Generation Core Tracks - The report identifies space computing and space photovoltaics as critical future sectors, emphasizing their role in supporting lunar economies and global intelligence ecosystems [22].

1月27日，凯盛科技涨0.84%，截至发稿，报15.63元/股，成交13.72亿元，换手率9.40%，总市值147.64 亿元。凯盛科技股价已经连续3天上涨，区间累计涨幅12.53%。 资料显示，凯盛科技股份有限公司位于安徽省蚌埠市黄山大道8009号，成立日期2000年9月30日，上市 日期2002年11月8日，公司主营业务涉及ITO导电膜玻璃,在线复合镀膜玻璃、真空镀膜玻璃、玻璃深加 工制品及新型材料(国家限制经营的除外)的开发研究、生产、销售;无机新材料的技术转让、开发、咨询 及技术服务;精密陶瓷、精细化工及电子行业用硅质、铝质粉体材料的生产及销售等。主营业务收入构 成为：显示材料79.42%，应用材料17.86%，其他2.71%。 国寿安保智慧生活股票A（001672）基金经理为张琦。 截至发稿，张琦累计任职时间15年208天，现任基金资产总规模29.51亿元，任职期间最佳基金回报 288.96%， 任职期间最差基金回报-19.09%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，任何在本文出现的信息（包括但 不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不 ...

"航天搭子"UTG20260125 市场对 GG 玻璃需求如何？ 摘要 目前市场对 GG 玻璃需求巨大。例如马斯克星链计划中尚有 3.5 万颗卫星待发， 其中 V3 版本预计将采用 70%的 UGT 方案，每颗卫星面积约 300-400 平米， 总需求量约 900 万平米。国内方面，包括星网和国网计划共计 2.8 万颗卫星， 每颗卫星面积约 200 平米，总需求量约 560 万平米。因此，仅从现有规划来 看，总需求量已达到 1,500 万平米。此外，根据马斯克宣布的 100GW 空间太 阳能部署计划，一吉瓦需 400 万平米太阳能面积，总计 4 亿平米。这些数据表 明未来 UGT 市场远超当前测算值。 未来柔性太阳翼应用将大幅增加，主要驱动力为多星发射和能量密度需 求提升。 UTG（超薄玻璃）和 CPI（透明聚酰亚胺）是主流柔性封装材料，UTG 在透光率、抗氧化性和耐高温性方面优于 CPI，寿命可达 10 年以上， CPI 仅 3-5 年。 UTG 透光率比 CPI 高 5-6%，耐高温性能达 700-800 度，远超 CPI 的 70-80 度，热衰减性能优势显著。 星链计划 V3 版本预计采用 70%的 ...

Investment Rating - The report maintains a "Buy" rating for the construction and building materials sectors, with specific recommendations for several companies [9]. Core Insights - The report emphasizes a balanced allocation between traditional cyclical sectors and emerging growth industries, particularly in the context of improving real estate transaction data and liquidity in the market [12][19]. - The construction materials sector has shown resilience, with price increases observed in waterproofing materials, aluminum formwork, and engineering pipe materials since Q3 2025, indicating a strengthening self-repair capability within the sector [12][14]. - The report highlights the ongoing demand for high-end materials in commercial aerospace, including high-temperature fiber materials and perovskite materials in solar wing energy systems [12]. Summary by Sections Industry Overview - The construction materials sector has been leading the market, driven by improved real estate transaction data and expectations of a spring rally in cyclical sectors [12]. - The report notes that from January to December 2025, the new construction area in real estate decreased by 20.4% year-on-year, but there are signs of recovery in major cities [12][19]. Key Companies and Developments - Zhejiang Weixing New Materials announced plans to acquire an 88.26% stake in Beijing Songtian Cheng for approximately 111 million yuan, aiming to enhance its product chain in municipal pipeline systems [3]. - The report recommends several companies for investment, including Yaxiang Integration, Zhongcai International, China Chemical, Qibin Group, and others, with target prices and expected earnings per share provided [9][38]. Market Dynamics - The report indicates that the cement price remained stable at 353 yuan per ton, with a significant drop in the average shipment rate to 29.5% due to seasonal factors [29]. - The glass market has shown stability, with the average price of float glass holding steady at 61 yuan per weight box, despite a year-on-year decline of 18.5% [2][29]. Emerging Trends - The report identifies a potential recovery in investment in Q1 2026, supported by government policies aimed at stimulating the economy, which may benefit cyclical sectors [17]. - The demand for electronic fabrics and cleanroom materials is expected to remain high, driven by advancements in AI and increased PCB investments [13][27]. Recommendations - The report suggests focusing on waterproofing and engineering pipe materials as key opportunities in the construction sector, with a positive outlook for these segments due to expected price increases and improved market conditions [20][21].

证券日报网讯 1月23日，凯盛科技在互动平台回答投资者提问时表示，公司生产的柔性玻璃可应用于航 天太阳能电池领域，已有少量样品用于前期测试，也在持续跟进相关技术开发。 （文章来源：证券日报） ...