被低估的大模型公司：【中控技术】 （1）什么是TPT大模型：TPT=大规模时序数据（Time-series）基于 Transformer架构预训练（Pre-Trained）。 是中控技术几百人研发团队历时三年多打造的业界首款为连续流程工业（石化、化工、电力、冶金等）设计的预 训练人工智能大模型系统。 目前版本2.0。 （2）TPT大模型为什么可以媲美质谱、 被低估的大模型公司：【中控技术】 （1）什么是TPT大模型：TPT=大规模时序数据（Time-series）基于 Transformer架构预训练（Pre-Trained）。 是中控技术几百人研发团队历时三年多打造的业界首款为连续流程工业（石化、化工、电力、冶金等）设计的预 训练人工智能大模型系统。 目前版本2.0。 （2）TPT大模型为什么可以媲美质谱、Minimax等大模型： 首先，高壁垒：数据壁垒——训练TPT模型需要大量的工厂生产数据，包括每个工厂几万个甚至几百万个传感器的 时间序列数据。 应用壁垒——化工厂安全生产是第一位的，没有行业实施经验的厂商不敢涉足。 比较而言大语言模型的竞争还比较激烈，鹿死谁手尚未可知。 而中控技术的TPT模型基本已经奠 ...

工大高科公告称，2025年度公司实现营业总收入1.98亿元，同比下降33.38%；实现归属于母公司所有者 的净利润1008.22万元，同比下降61.63%。截至2025年末，公司总资产7.43亿元，较期初下降5.33%；归 属于母公司的所有者权益5.95亿元，较期初增长0.07%。受行业周期性调整等因素影响，公司新订单获 取及存量项目推进低于预期，收入收缩，盈利下降。公告数据为初步核算，未经审计，具体以2025年年 度报告为准。 ...

来源：新浪证券-红岸工作室 资料显示，武汉港迪技术股份有限公司位于湖北省武汉市东湖开发区武汉理工大学科技园理工园路6号 D车间，成立日期2015年9月28日，上市日期2024年11月7日，公司主营业务涉及主要从事工业自动化领 域产品的研发、生产与销售。主营业务收入构成为：智能操控系统63.66%，自动化驱动产品35.26%， 管理系统软件0.57%，其他(补充)0.51%。 截至2月13日，港迪技术股东户数8572.00，较上期增加1.71%；人均流通股2976股，较上期减少1.68%。 2025年1月-9月，港迪技术实现营业收入3.61亿元，同比减少3.30%；归母净利润4338.69万元，同比减少 25.24%。 2月25日，港迪技术涨0.13%，成交额2097.93万元。两融数据显示，当日港迪技术获融资买入额108.70 万元，融资偿还114.67万元，融资净买入-5.97万元。截至2月25日，港迪技术融资融券余额合计6347.21 万元。 融资方面，港迪技术当日融资买入108.70万元。当前融资余额6342.36万元，占流通市值的3.57%，融资 余额低于近一年10%分位水平，处于低位。 融券方面，港 ...

Group 1 - Madison Investments reported a 2.65% return for the S&P 500 in Q4 2025, leading to a full-year return of 17.9% for 2025, with the index achieving over 21% annual growth over the last three years [1] - The Madison Large Cap Fund (Class I) outperformed the S&P 500 with a return of 3.43% in Q4 2025, indicating effective fund management [1] - Market leadership was characterized by High Beta and Momentum factors, with improvements in previously lagging sectors such as Healthcare, Financials, and Consumer Discretionary [1] Group 2 - Honeywell International Inc. (NASDAQ:HON) stock closed at $243.61 on February 24, 2026, with a one-month return of 12.45% and a 52-week gain of 22.35%, reflecting strong performance [2] - Honeywell has a market capitalization of approximately $164.16 billion, indicating its significant size in the market [2] - The Madison Large Cap Fund initiated a position in Honeywell, viewing it as a high-quality industrial conglomerate undergoing a portfolio transformation, which includes the sale and spin-off of various assets in 2025 [3] Group 3 - Honeywell is not among the 30 most popular stocks among hedge funds, with 79 hedge fund portfolios holding its stock at the end of Q4 2025, an increase from 76 in the previous quarter [5] - While Honeywell is recognized for its investment potential, the company is compared to certain AI stocks that are perceived to offer greater upside potential and lower downside risk [5]

New research shows top OEMs cut downtime recovery by 40%, strengthening profitability through resilience- first strategies [Accessibility Statement] Skip NavigationFindings reveal how leading machine builders strengthen recovery, consistency and customer outcomesMILWAUKEE, Feb. 24, 2026 /PRNewswire/ -- Rockwell Automation (NYSE: ROK), the world's largest company dedicated to industrial automation and digital transformation, today released new global research that highlights how leading machine builders are ...

2月24日，农历新年开工第一天，广东省在广州召开全省高质量发展大会。西门子（中国）有限公司副 总裁兼Xcelerator中国总经理胡建钧在会上作发言时表示，广东深化制度型开放，加速融入全球创新网 络，持续优化营商环境，不断释放制度红利与市场潜力，正成为跨国公司眼中不可替代的投资高地。 胡建钧表示，西门子将紧扣广东"产业科技互促双强"战略，充分发挥本地化价值链与全球技术资源双重 优势，积极推动工业AI技术与场景在粤落地，促进制造业与服务业深度融合，助力新质生产力人才培 养。当前，西门子正积极筹划建设"西门子Xcelerator中国产业生态中心暨粤港澳大湾区工业AI创新基 地"，力争打造服务业高水平开放的示范标杆，为广东高质量发展注入更多"数智动能"，为中国式现代 化贡献跨国企业的坚实力量。 作为最早进入中国的外资企业，西门子在中国深耕发展已经超过150年。截至2025年底，共服务中国40 余个行业、超5万家企业。自1929年以来，西门子与广东的精诚合作已有近百年历程，在广东已形成"2 家运营企业、2家合资公司、4个研发创新中心"和"1个增材制造联合实验室"的全产业链布局。 胡建钧表示，当前，广东正在全力建设具有 ...

Core Insights - Honeywell's planned separation into three companies has transitioned from a hypothesis to an operational reality, allowing for better strategic clarity and portfolio adjustments [1] - The aerospace segment is experiencing strong bookings, but growth is limited by the company's delivery capacity, which is expected to increase by approximately 12% to 14% per quarter [2] - Long-cycle project demand is strong, particularly in LNG and aerospace, with Honeywell's LNG business booked until late 2027 and early 2028 [3] - Weaker demand persists in petrochemical catalysts due to excess industry capacity, while long-cycle process activities in LNG and refining are seeing increased orders [4] - Building Automation remains robust, with strong demand in North America, although conditions are weaker in Europe and China [5] - Honeywell's momentum from 2025 is continuing into early 2026, with first-quarter performance aligning with recent guidance [6] Business Strategy - Honeywell aims to operate as a pure-play automation company within six months, with a target of achieving a 40% services and software aftermarket mix [6] - The company is focusing on new product introductions as a core growth strategy, with varying adoption cycles across segments [7] - Inflation is a significant factor affecting pricing, with persistent cost pressures in the range of 3% to 3.5% [8] - Honeywell is adapting its pricing strategy to address inflation directly with customers and is emphasizing productivity to avoid relying solely on price increases [9] Technological Developments - Progress at Quantinuum is supported by recent technological advancements, with a hardware platform launched that delivers 48 logical qubits [10] - Honeywell's increased customer engagement in Quantinuum is building confidence in its potential to operate independently [11] - The company owns 52% of Quantinuum, and an eventual exit could eliminate approximately $250 million in annual investment [12] Market Trends - Honeywell's preference for bolt-on M&A and comfort with carve-outs reflects a significant shift in its portfolio, with 15% of revenue exited and 15% added [13] - Data center demand is closely linked to Building Automation, with customers seeking greater standardization and faster execution [13] - Key structural forces shaping the next five years include persistent inflation and a shift from rule-based automation to autonomy [13]

Core Insights - The momentum observed in 2025 continues into 2026, with external markets remaining largely unchanged [1] - The aerospace sector shows strong performance, while building automation has both short and long cycle strength [1] - Industrial automation is performing well in North America, but demand is weaker in Europe and China, influencing guidance [1] Market Analysis - The petrochemicals catalyst market is experiencing a lack of demand, attributed to sufficient global capacity [2] - The guidance for 2026 assumes the current demand situation in petrochemicals persists [2] - Conversely, long cycle and process orders have shown growth for two consecutive quarters [2]

Summary of Honeywell International Conference Call Company Overview - **Company**: Honeywell International (NasdaqGS: HON) - **Date**: February 18, 2026 - **Key Speakers**: Vimal Kapur (Chairman and CEO), Mike Stepniak (SVP and CFO) Key Industry Insights Building Automation and Industrial Automation - Strong performance in building automation and industrial automation, particularly in North America, but weaker demand in Europe and China [4][6] - Long cycle businesses, especially in LNG and refining, are experiencing growth, while short cycle catalyst demand in petrochemicals is flat due to excess capacity [6][8] - Orders for long cycle projects are increasing, with significant bookings extending into 2027 and early 2028 [15][19] Market Dynamics - The external market conditions remain stable year-over-year, with no significant changes anticipated [2] - The company is focusing on improving its capacity to meet growing demand, particularly in aerospace and LNG sectors [21] Financial Performance and Guidance - Honeywell expects to maintain a strong financial performance, with guidance for 2026 reflecting continued growth in key segments [8][32] - The company is targeting a pricing increase of 3%-4% for 2026, driven by inflation and new product introductions [63][66] - Free cash flow conversion is projected to be high, with expectations of reaching the high nineties percentage [231] Strategic Initiatives Separation and Focus - The separation of Honeywell into more focused entities is believed to enhance operational efficiency and strategic clarity [22][32] - The company is transitioning to a pure-play automation company, which is expected to yield better growth opportunities [32][80] New Product Introductions (NPI) - New product development is a key growth strategy across all segments, with a focus on building automation and industrial automation [36][46] - The company is investing in R&D and customer co-creation to enhance its product offerings [46] Quantum Computing and AI Integration - Honeywell's quantum computing business, Quantinuum, is gaining traction with significant advancements in hardware and customer interest [98][135] - The integration of AI with quantum computing is seen as a major opportunity for future growth [127][131] Challenges and Risks - The company faces challenges related to inflation, supply chain constraints, and geopolitical factors affecting global operations [233][234] - The demand for catalysts is not linear and can lead to lumpiness in revenue, particularly in the process technology segment [188][190] Conclusion - Honeywell is positioned for growth in 2026, with strong demand in key sectors and a focus on innovation and strategic separation. The company is actively managing challenges related to inflation and supply chain while leveraging new technologies like quantum computing and AI to enhance its offerings and market position.

Summary of Emerson Electric Conference Call Company Overview - **Company**: Emerson Electric (NYSE: EMR) - **Date**: February 18, 2026 - **Key Speakers**: Lal Karsanbhai (President and CEO), Mike Baughman (CFO) Key Points Industry and Market Dynamics - Emerson's software business is valued at **$1.6 billion ACV** with a target of **10% growth** in ACV for the year, driven by strong demand in mission-critical applications across regulated industries such as power generation, pharmaceuticals, and energy [1][14] - The company emphasizes the importance of integrating AI into existing software, with products like **Ovation Virtual Advisor** and **Aspen Virtual Advisor** already generating over **$100 million in quotations** [14][21] - The software business is protected by three key moats: 1. **Deterministic and domain expertise** in vertical applications [5][6] 2. Focus on **mission-critical applications** in regulated industries [9] 3. Economic moat through **perpetual licenses** and usage-based tokens [11][12] Financial Performance - Emerson reported a **9% ACV growth** in the last quarter and expects similar growth in the current quarter, despite a **2-point headwind** from a previous job [14] - The company has seen **74% order growth** in the Ovation product line, primarily driven by modernization projects in the U.S. [50][62] - The overall order rate is stable, with a trailing twelve-month rate of **6%**, supported by a strong installed base of **$155 billion** [80][87] Regional Insights - The U.S. market is experiencing strong growth, particularly in sectors like **semiconductors, aerospace and defense, energy, life sciences, and power** [46][48] - Emerson has aligned its strategy to focus on these growth factors, benefiting from favorable U.S. industrial policies [48][49] - The company anticipates continued growth in the Middle East and India, offsetting weaknesses in China and Europe [135][137] Future Outlook - Emerson is committed to returning **$10 billion** in cash to shareholders, with plans for **$6 billion in share repurchases** and **$4 billion in dividends** [172] - The company is focused on enhancing its R&D investment, which has increased from **4% to 8%**, aiming for **double-digit growth** in technology innovation [184] - Emerson is preparing for potential growth in the nuclear sector and is actively pursuing opportunities in emerging markets like India and the Middle East [76][137] Challenges and Considerations - The company has assumed a **weak recovery** in China and Europe in its forecasts, which could impact overall growth if conditions improve unexpectedly [37][38] - There are ongoing challenges in the automotive sector, particularly in the electrical batteries and ADAS markets, which remain weak [106][108] - Emerson is monitoring supply chain dynamics, particularly regarding DRAM availability and tariffs, which could affect costs but are not expected to materially impact overall financial performance [152][154] Conclusion - Emerson Electric is strategically positioned for growth through its focus on software integration, strong market presence in critical industries, and commitment to shareholder returns. The company is navigating challenges in certain markets while capitalizing on opportunities in the U.S. and emerging markets.