www.leadleo.com 全球可控核聚变行业简报 | 2025/03 报告标签：核聚变、核能、核反应、反应堆、AI 主笔人：马天奇 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另行标明出处者除外）。未经头豹 研究院事先书面许可，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究 院保留采取法律措施、追究相关人员责任的权利。头豹研究院开展的所有商业活动均使用"头豹研究院"或"头豹"的商号、商标，头豹研究院无任何前述名 称之外的其他分支机构，也未授权或聘用其他任何第三方代表头豹研究院开展商业活动。 1 Q1：什么是可控核聚变？核心技术是什么？各国规划情况？ ◼ 氘储量丰富、氚可人工制备，为各国推进核聚变技术发展提供了长期稳定的燃料保障 核能来自原子核内部，通过质能方程释放巨大能量。裂变反应以铀-235为代表，能量密度高，但产生放射性废料，且曾发生 重大安全事故（如切尔诺贝利和福岛），加之铀-235储量有限，预计30年内耗尽。相比之下，聚变能是更优方案。目前尚未 实现可控核聚变，失控聚变（如 ...

Investment Rating - The report does not explicitly state an investment rating for the kitchen cleaning products industry in China Core Insights - The kitchen cleaning products market in China is expected to continue expanding due to increasing health awareness among consumers, driven by rising living standards and disposable income [4][39][42] - The rapid growth of the home service industry is significantly contributing to the demand for kitchen cleaning products, with a notable increase in service orders [5][46][47] - The industry is entering a phase of fierce competition characterized by overcapacity and product homogeneity, making it challenging for new entrants [6][51][55] - National policies promoting low-carbon and environmental protection are guiding the industry's evolution, with a focus on specialized products and online sales channels [7][36] Summary by Sections Industry Overview - The kitchen cleaning products industry in China has seen significant growth since the introduction of the first dishwashing liquid in 1985, evolving towards specialized products [7] - The market size reached 24.76 billion RMB in 2023, with projections indicating growth to 37.49 billion RMB by 2028, reflecting a CAGR of 8.65% [31] Market Demand and Growth Drivers - Enhanced hygiene awareness among consumers is leading to increased demand for kitchen cleaning products, with per capita spending expected to reach 38.44 RMB in 2024, a 9.42% increase year-on-year [25][42] - The home service industry is expanding rapidly, with significant growth in service orders, which is expected to drive demand for kitchen cleaning products [5][46] Competitive Landscape - The industry is characterized by overcapacity and intense competition, with established brands dominating the market and new entrants facing challenges in gaining market share [6][51][55] - The market is shifting towards online sales channels, with online and offline sales expected to reach parity by 2024 [25][36] Supply Chain Analysis - The supply chain for kitchen cleaning products includes raw material suppliers, production companies, and various sales channels, with a notable shift towards online retail [14][25] - Key raw materials include palm oil and LDPE, with fluctuations in their prices impacting production costs [20][22] Future Trends - The industry is expected to continue evolving with a focus on low-carbon products and innovative marketing strategies, particularly through content e-commerce platforms [7][36] - The trend towards specialization in product offerings is likely to intensify as companies seek to differentiate themselves in a crowded market [7][36]

Investment Rating - The report does not explicitly provide an investment rating for the mechanical coatings industry. Core Insights - The mechanical coatings industry in China is projected to grow significantly, with the market size expected to reach approximately 125.98 billion RMB by 2027, up from 39.75 billion RMB in 2017, reflecting a compound annual growth rate (CAGR) of around 8.80% from 2022 to 2027 [6][19]. Summary by Sections 1. Market Size of the Mechanical Coatings Industry - The market size of the mechanical coatings industry in China has shown consistent growth from 39.75 billion RMB in 2017 to 89.32 billion RMB in 2022, with an estimated size of 109.79 billion RMB by 2025 and 125.98 billion RMB by 2027 [6][19]. 2. Sales Volume of Major Engineering Machinery Products - The sales volume of major engineering machinery products in China increased from 85.33 million units in 2017 to an estimated 165.41 million units in 2022, with projections of 201.25 million units by 2027, indicating a steady growth trend [7][12]. 3. Lifecycle Coating Demand for Engineering Machinery - The lifecycle coating demand for each unit of engineering machinery is estimated to be approximately 200 kg, remaining constant across the years from 2017 to 2027 [8][16]. 4. Average Market Price of Mechanical Coatings - The average market price of mechanical coatings has gradually increased from 23.29 RMB per kg in 2017 to an estimated 27.81 RMB per kg in 2023, with projections reaching 31.30 RMB per kg by 2027, reflecting a consistent growth rate of around 3% annually [19].

Investment Rating - The report does not explicitly provide an investment rating for the intellectual property industry [1]. Core Insights - The Chinese intellectual property agency market size is projected to grow from 1,254.49 million RMB in 2017 to 4,194.4 million RMB by 2027, indicating a significant upward trend [7]. - The Chinese intellectual property service market size is expected to increase from 1,642 million RMB in 2017 to 5,350 million RMB by 2027, reflecting a robust growth trajectory [12]. - The proportion of patent agency institutions within the intellectual property sector has remained relatively stable, with a slight increase from 76.4% in 2017 to an estimated 78% in 2023 [9][16]. Summary by Sections 1. Chinese Intellectual Property Agency Market Size - The market size for the Chinese intellectual property agency sector is calculated based on a model that combines various factors [7]. - The projected market sizes for the years 2023E to 2027E are 2,600.52 million RMB, 2,934.85 million RMB, 3,287.05 million RMB, 3,751.7 million RMB, and 4,194.4 million RMB respectively [7]. 2. Chinese Intellectual Property Service Market Size - The service market size is projected to grow steadily, with expected values of 3,334 million RMB in 2023E, 3,753 million RMB in 2024E, and reaching 5,350 million RMB by 2027 [12]. - The growth rates for the years 2018 to 2027 show a consistent increase, with the highest growth rate of 15.56% in 2021 [12]. 3. Proportion of Patent Agency Institutions - The percentage of patent agency institutions has shown slight fluctuations, with a notable drop to 72.7% in 2020, but recovering to 78% in 2023E [9][16]. - The data indicates a stable presence of patent agencies within the overall intellectual property landscape, suggesting a strong reliance on these institutions for intellectual property services [9][16].

Investment Rating - The report indicates a strong growth potential for the semiconductor CMP equipment industry in China, with a projected market size increase from 45 billion RMB in 2022 to 150 billion RMB by 2024, reflecting a compound annual growth rate (CAGR) of 82.6% [7][24]. Core Insights - The semiconductor CMP equipment industry is essential for advanced integrated circuit manufacturing and packaging processes, with the technology becoming increasingly critical as semiconductor manufacturing nodes advance [7]. - The market for semiconductor CMP equipment in China is expected to grow significantly, with projections indicating a market size of approximately 486 billion RMB by 2029, driven by advancements in packaging technology and new memory markets [24][26]. - The competitive landscape shows that the high-end market is dominated by international players such as Applied Materials and Ebara, while domestic companies like Huahai Qingshi are rapidly gaining market share [8][21]. Summary by Sections Industry Status - The semiconductor CMP equipment market in China is experiencing rapid growth, with a market size expected to increase from 45 billion RMB in 2022 to 150 billion RMB by 2024, achieving a CAGR of 82.6% [7][24]. - The CMP process is crucial for technologies such as copper interconnects and FinFET transistors, making it a key component in the evolution of semiconductor manufacturing [7]. Market Competition - The high-end CMP equipment market is primarily led by international giants, with domestic players like Huahai Qingshi, Jingyi Precision, and Zhonggui Technology emerging as significant competitors [8][21]. - The market is structured into tiers, with the first tier consisting of international leaders, the second tier represented by Huahai Qingshi, and the third tier including companies like Jingyi Precision and Zhonggui Technology [22]. Market Size - The semiconductor CMP equipment market is projected to grow to 486 billion RMB by 2029, with a CAGR of 27.7% from 2025 to 2029 [24][26]. - The demand for CMP equipment is expected to rise due to advancements in semiconductor applications and the rapid development of DRAM and other memory technologies [8].

2025年 西洋参类保健食品行业词条报 告 港股分类法/消费品制造/食品饮料、申万分类/食品饮料/ 食品加工/保健品、头豹分类/制造业/医药制造业/保健及 康复食品制造 Copyright © 2025 头豹 行业分类： 消费品制造/食品饮料 食品饮料/保健品 制造业/保健及康复食品制造 摘要 西洋参类保健食品以西洋参为主要原料，具有广泛药理作用。中国是西洋参主要生产和消费国之一，行业具有显著先行优势，监管边界清晰。随着科学研究深入，西洋参应 用范围将扩大，行业发展前景广阔。市场规模变化需求端增长迅速，供给端质量与结构全面优化。未来，银发经济和备案制引入将催化行业规模进一步扩大，西洋参类保健 食品有望迎来更广阔的发展前景。 行业定义 西洋参类保健食品是以西洋参为主要原料的保健食品。西洋参又称花旗参、洋参等，是五加科人参属多年生宿根草本植物，也是药食同源的 名贵中药材，药理作用广泛。西洋参有助于改善由气阴不足引起的各种症状，并能增强体力，减轻疲劳感。目前，中国已成为仅次于美国和加拿 大的世界第三大西洋参生产国，也是世界第一大西洋参消费国。 行业分类 按照保健食品获批制度的分类方式，党参类保健食品行业可以分为如下 ...

Core Insights - The report highlights the rapid growth of China's national men's skincare industry, driven by the rising "He" economy and increasing male consumer awareness of skincare [5][7][50] - The market size of the national men's skincare industry is projected to grow from 4.63 billion yuan in 2020 to 9.29 billion yuan in 2024, with a CAGR of 19%, and is expected to exceed 20 billion yuan by 2029 [5][50] - The report identifies three major trends in the industry: product efficacy refinement, diversified marketing strategies, and healthier product ingredients [6][62] Policy Guidance - Recent government policies in the cosmetics industry have shifted from extensive expansion to standardized regulation, providing a framework for domestic men's skincare brands to transition from "cost performance" to "quality-price performance" [4] Market Size - The national men's skincare market is experiencing significant growth, with the market size increasing from 4.63 billion yuan in 2020 to 9.29 billion yuan in 2024, reflecting a CAGR of 19% [5][50] - The men's facial cleanser segment is particularly notable, with a market size of 6.41 billion yuan in 2024, growing at a CAGR of 17.4% [54] Development Trends - The industry is witnessing a trend towards refined product efficacy, with increasing demand for advanced skincare functions such as anti-acne, anti-aging, and skin repair [8] - Marketing strategies are diversifying, with brands employing IP collaborations, scenario-based gifting, and influencer marketing to engage consumers [57][61] - There is a growing emphasis on healthy ingredients, with brands incorporating traditional herbal components like ginseng and astragalus into their products [62][64] Consumer Profile - The primary consumer demographic for men's skincare products is young males aged 18-29, who account for over 50% of the market [28][31] - Consumption is concentrated in first- and second-tier cities, with a significant portion of consumers belonging to the middle to high-income brackets [28][31] Industry Chain - The industry chain consists of upstream raw material suppliers, midstream domestic skincare brands, and downstream retail channels, with a notable reliance on high-quality raw materials [33][39] Investment Trends - The national men's skincare market has attracted significant investment, with 18 financing events totaling over 600 million yuan reported as of January 2025 [24][25] Online Channel Growth - The online retail channel for men's skincare is rapidly expanding, with total online sales reaching 7.48 billion yuan from May 2023 to April 2024, reflecting a strong growth trend [46]

Investment Rating - The report does not explicitly state an investment rating for the online travel industry in China [1]. Core Insights - The online travel industry in China is projected to grow significantly, with the market size expected to reach approximately 20.29 billion RMB by 2027, reflecting a compound annual growth rate (CAGR) of around 15.25% from 2023 to 2027 [9]. - The penetration rate of online travel services is anticipated to increase from 16.17% in 2017 to 28.3% by 2027, indicating a growing acceptance of online platforms among consumers [11][15]. - The number of tourists in China is expected to rebound, reaching approximately 70.94 million by 2027, after a significant drop in 2020 due to the pandemic [20]. - The average spending per tourist is projected to rise from 913 RMB in 2017 to 1,010.7 RMB by 2027, suggesting an increase in consumer spending power and willingness to spend on travel [30]. Summary by Sections 1. Market Size - The market size of the online travel industry in China was 7.38 billion RMB in 2017, growing to an estimated 10.37 billion RMB in 2023, and projected to reach 20.29 billion RMB by 2027 [9]. 2. Penetration Rate - The penetration rate of online travel services has shown fluctuations, with a notable increase from 16.17% in 2017 to an estimated 23.29% in 2023, and further growth expected to 28.3% by 2027 [11][15]. 3. Tourist Numbers - The number of tourists in China decreased significantly in 2020 to 28.79 million but is expected to recover to 70.94 million by 2027, indicating a strong recovery trajectory [20]. 4. Average Spending - The average spending per tourist has been relatively stable, with a slight increase from 913 RMB in 2017 to an estimated 1,010.7 RMB by 2027, reflecting a positive trend in consumer spending behavior [30]. 5. Market Consumption - The total consumption in the tourism market is projected to grow from 45.66 billion RMB in 2017 to 71.70 billion RMB by 2027, indicating a robust growth outlook for the industry [28].

Investment Rating - The report does not explicitly provide an investment rating for the green computing power industry Core Insights - The green computing power industry in China is experiencing significant growth, driven by the increasing demand for data processing and the emphasis on energy efficiency and sustainability [2][28][40] - The total computing power in China reached 230 EFLOPS by the end of 2023, with AI-related computing power accounting for 70 EFLOPS, reflecting a year-on-year growth rate exceeding 70% [29][30] - The average Power Usage Effectiveness (PUE) of data centers improved to 1.48 in 2023, down from 1.54 in 2022, indicating enhanced energy efficiency [29][30] Summary by Sections Industry Overview - Green computing power aims to optimize computing resource efficiency through energy-saving and environmentally friendly technologies, reducing energy consumption and carbon emissions while maintaining performance [4][19] - The number of computing center racks in China has grown from 1.66 million in 2017 to 8.1 million in 2023, with a compound annual growth rate (CAGR) of 50% [14][42] Development History - The development of green computing power has progressed through several stages: initial stage (1996-2006), starting stage (2007-2020), development stage (2021-2030), and maturity stage (post-2030) [22][25] - Key milestones include the introduction of energy efficiency metrics like PUE and the increasing focus on carbon neutrality [24][26] Current Development Status - The green computing power industry is rapidly evolving to meet the demands of digital transformation, with significant contributions to smart cities and AI industrialization [28] - The total energy consumption of data centers in China reached 150 billion kWh, accounting for 1.6% of total electricity consumption, with carbon emissions totaling 8.4 million tons [29][30] Industry Chain Analysis - The total cost of ownership (TCO) for data centers is primarily driven by electricity costs and infrastructure depreciation, with electricity costs being the largest component [5][44] - The industry chain includes upstream hardware manufacturers, midstream data center operators, and downstream application developers, with a focus on optimizing energy efficiency and reducing carbon emissions [43][45] Technological Innovations - Advanced cooling technologies, such as liquid cooling systems, are being adopted to enhance energy efficiency in data centers [12][19] - The development of low-power, high-performance chips is crucial for improving the energy efficiency and performance of computing centers [62][64] Future Outlook - The demand for computing power is expected to continue growing, driven by emerging technologies such as 5G, IoT, and edge computing [6][41] - The industry is moving towards a more sustainable model, with a goal of achieving 100% renewable energy usage by 2030 [72][75]

www.leadleo.com 中国智能吉他行业调研简报 | 2025/02 报告标签：智能吉他、无弦吉他、智能乐器 主笔人：黄鸿羽 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另行标明出处者除外）。未经头豹 研究院事先书面许可，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究 院保留采取法律措施、追究相关人员责任的权利。头豹研究院开展的所有商业活动均使用"头豹研究院"或"头豹"的商号、商标，头豹研究院无任何前述名 称之外的其他分支机构，也未授权或聘用其他任何第三方代表头豹研究院开展商业活动。 2 ©2023 LeadLeo 头豹调研简报 | 2025/02 智能吉他行业 1 头豹调研简报 | 2025/02 智能吉他行业 Q1：从宏观消费数据切入智能吉他行业发展背景？ 图表1：中国城镇居民人均可支配收入，2019-2023年 单位：[元] 10.5% 9.4% 8.0% 4.5% 8.3% 9.9% 10.7% 11.2% 11.3% 14.2% 13.8% 15.2% 11.2% 0% ...