update

.claude/settings.local.json

@@ -0,0 +1,13 @@
+{
+  "permissions": {
+    "allow": [
+      "Bash(npm test:*)",
+      "Bash(xargs ls:*)",
+      "Bash(awk:*)",
+      "Bash(npm start)",
+      "Bash(python3:*)"
+    ],
+    "deny": [],
+    "ask": []
+  }
+}

.gitattributes

@@ -0,0 +1,2 @@
+# Auto detect text files and perform LF normalization
+* text=auto

.gitignore

@@ -0,0 +1,42 @@
+node_modules
+package-lock.json
+yarn.lock
+build
+node_modules
+# 依赖
+node_modules/
+/.pnp
+.pnp.js
+
+# 测试
+/coverage
+
+# 生产构建
+/build
+/dist
+
+# 环境变量
+.env
+.env.local
+.env.development.local
+.env.test.local
+.env.production.local
+
+# 日志
+npm-debug.log*
+yarn-debug.log*
+yarn-error.log*
+pnpm-debug.log*
+
+# 编辑器
+.vscode/
+.idea/
+*.swp
+*.swo
+*~
+
+# macOS
+.DS_Store
+
+# Windows
+Thumbs.db

.npmrc

@@ -0,0 +1,3 @@
+legacy-peer-deps=true
+auto-install-peers=true
+strict-peer-dependencies=false

CLAUDE.md

@@ -0,0 +1,91 @@
+# CLAUDE.md
+
+This file provides guidance to Claude Code (claude.ai/code) when working with code in this repository.
+
+## Project Overview
+
+This is a hybrid React dashboard application with a Flask/Python backend. The project is built on the Argon Dashboard Chakra PRO template and includes financial/trading analysis features.
+
+### Frontend (React + Chakra UI)
+- **Framework**: React 18.3.1 with Chakra UI 2.8.2
+- **Styling**: Tailwind CSS + custom Chakra theme
+- **Build Tool**: React Scripts with custom Gulp tasks
+- **Charts**: ApexCharts, ECharts, and custom visualization components
+
+### Backend (Flask/Python)
+- **Framework**: Flask with SQLAlchemy ORM
+- **Database**: ClickHouse for analytics + MySQL/PostgreSQL
+- **Features**: Real-time data processing, trading analysis, user authentication
+- **Task Queue**: Celery for background processing
+
+## Development Commands
+
+### Frontend Development
+```bash
+npm start                    # Start development server (port 3000, proxies to localhost:5001)
+npm run build               # Production build with license headers
+npm test                    # Run React test suite
+npm run lint:check          # Check ESLint rules
+npm run lint:fix            # Auto-fix ESLint issues
+npm run install:clean       # Clean install (removes node_modules and package-lock)
+```
+
+### Backend Development
+```bash
+python app_2.py            # Start Flask server (main backend)
+python simulation_background_processor.py  # Background data processor
+```
+
+### Python Dependencies
+Install from requirements.txt:
+```bash
+pip install -r requirements.txt
+```
+
+## Architecture
+
+### Frontend Structure
+- `src/layouts/` - Main layout components (Admin, Auth, Home)
+- `src/views/` - Page components organized by feature (Dashboard, Company, Community, etc.)
+- `src/components/` - Reusable UI components (Charts, Cards, Buttons, etc.)
+- `src/theme/` - Chakra UI theme customization
+- `src/routes.js` - Application routing configuration
+- `src/contexts/` - React context providers
+- `src/services/` - API service layer
+
+### Backend Structure
+- `app_2.py` - Main Flask application with routes and business logic
+- `simulation_background_processor.py` - Background data processing service
+- `wechat_pay.py` / `wechat_pay_config.py` - Payment integration
+- `tdays.csv` - Trading days data
+
+### Key Integrations
+- ClickHouse for high-performance analytics queries
+- Celery + Redis for background task processing
+- Flask-SocketIO for real-time data updates
+- Tencent Cloud services (SMS, etc.)
+- WeChat Pay integration
+
+## Configuration
+
+### Proxy Setup
+The React dev server proxies API calls to `http://localhost:5001` (see package.json).
+
+### Environment Files
+- `.env` - Environment variables for both frontend and backend
+
+### Build Process
+The build process includes custom Gulp tasks that add Creative Tim license headers to JS, CSS, and HTML files.
+
+### Styling Architecture
+- Tailwind CSS for utility classes
+- Custom Chakra UI theme with extended color palette
+- Component-specific SCSS files in `src/assets/scss/`
+
+## Testing
+- React Testing Library setup for frontend components
+- Test command: `npm test`
+
+## Deployment
+- Build: `npm run build`
+- Deploy: `npm run deploy` (builds the project)

ISSUE_TEMPLATE.md

@@ -0,0 +1,13 @@
+<!--
+ IMPORTANT: Please use the following link to create a new issue:
+
+  https://www.creative-tim.com/new-issue/argon-dashboard-chakra-pro
+
+**If your issue was not created using the app above, it will be closed immediately.**
+-->
+
+<!--
+Love Creative Tim? Do you need Angular, React, Vuejs or HTML? You can visit:
+👉  https://www.creative-tim.com/bundles
+👉  https://www.creative-tim.com
+-->

app/__init__.py

@@ -0,0 +1,45 @@
+from flask import Flask
+from flask_sqlalchemy import SQLAlchemy
+
+from flask_cors import CORS
+from datetime import datetime
+import pytz
+import os
+
+# 创建Flask应用
+app = Flask(__name__)
+
+# 配置
+config_name = os.environ.get('FLASK_ENV', 'development')
+from config import config
+app.config.from_object(config[config_name])
+
+# 初始化扩展
+db = SQLAlchemy(app)
+CORS(app, resources={r"/api/*": {"origins": "*"}})
+
+# 时区设置
+def beijing_now():
+    """获取北京时间"""
+    tz = pytz.timezone('Asia/Shanghai')
+    return datetime.now(tz)
+
+# 导入模型
+from app.models import *
+
+# 创建数据库表
+with app.app_context():
+    db.create_all()
+
+# 注册路由
+from app.routes import events, stocks, limitanalyse, calendar, industries
+
+app.register_blueprint(events.bp)
+app.register_blueprint(stocks.bp)
+app.register_blueprint(limitanalyse.bp)
+app.register_blueprint(calendar.bp)
+app.register_blueprint(industries.bp)
+
+if __name__ == '__main__':
+    print("=== Value Frontier React 架构启动 ===")
+    app.run(host='0.0.0.0', port=5001, debug=True) 

app/extensions.py

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+# app/extensions.py
+from flask_sqlalchemy import SQLAlchemy
+from flask_login import LoginManager
+from flask_compress import Compress
+from flask_cors import CORS
+from clickhouse_driver import Client as Cclient
+from sqlalchemy import create_engine
+
+# Database instances
+db = SQLAlchemy()
+
+# Other extensions
+login_manager = LoginManager()
+compress = Compress()
+cors = CORS()
+
+# Database engines (如果仍然需要直接使用 engine)
+engine = create_engine("mysql+pymysql://root:Zzl33818!@111.198.58.126:33060/stock", echo=False)
+engine_med = create_engine("mysql+pymysql://root:Zzl33818!@111.198.58.126:33060/med", echo=False)
+engine_2 = create_engine("mysql+pymysql://root:Zzl33818!@111.198.58.126:33060/valuefrontier", echo=False)
+
+# ClickHouse client factory
+def get_clickhouse_client():
+    return Cclient(
+        host='111.198.58.126',
+        port=18778,
+        user='default',
+        password='Zzl5588161!',
+        database='stock'
+    )

app/models.py

@@ -0,0 +1,504 @@
+from app import db
+from datetime import datetime
+import pytz
+import json
+
+def beijing_now():
+    """获取北京时间"""
+    tz = pytz.timezone('Asia/Shanghai')
+    return datetime.now(tz)
+
+class Post(db.Model):
+    """帖子模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'), nullable=False)
+    user_id = db.Column(db.Integer, db.ForeignKey('user.id'), nullable=False)
+
+    # 内容
+    title = db.Column(db.String(200))  # 标题(可选)
+    content = db.Column(db.Text, nullable=False)  # 内容
+    content_type = db.Column(db.String(20), default='text')  # 内容类型:text/rich_text/link
+
+    # 时间
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now, onupdate=beijing_now)
+
+    # 统计
+    likes_count = db.Column(db.Integer, default=0)
+    comments_count = db.Column(db.Integer, default=0)
+    view_count = db.Column(db.Integer, default=0)
+
+    # 状态
+    status = db.Column(db.String(20), default='active')  # active/hidden/deleted
+    is_top = db.Column(db.Boolean, default=False)  # 是否置顶
+
+    # 关系
+    user = db.relationship('User', backref='posts')
+    likes = db.relationship('PostLike', backref='post', lazy='dynamic')
+    comments = db.relationship('Comment', backref='post', lazy='dynamic')
+
+class User(db.Model):
+    """用户模型"""
+    id = db.Column(db.Integer, primary_key=True)
+
+    # 基础账号信息(注册时必填)
+    username = db.Column(db.String(80), unique=True, nullable=False)  # 用户名
+    email = db.Column(db.String(120), unique=True, nullable=False)  # 邮箱
+    password_hash = db.Column(db.String(128), nullable=False)  # 密码哈希
+    email_confirmed = db.Column(db.Boolean, default=False)  # 邮箱是否验证
+
+    # 账号状态
+    created_at = db.Column(db.DateTime, default=beijing_now)  # 注册时间
+    last_seen = db.Column(db.DateTime, default=beijing_now)  # 最后活跃时间
+    status = db.Column(db.String(20), default='active')  # 账号状态 active/banned/deleted
+
+    # 个人资料(可选,后续在个人中心完善)
+    nickname = db.Column(db.String(30))  # 社区昵称
+    avatar_url = db.Column(db.String(200))  # 头像URL
+    banner_url = db.Column(db.String(200))  # 个人主页背景图
+    bio = db.Column(db.String(200))  # 个人简介
+    gender = db.Column(db.String(10))  # 性别
+    birth_date = db.Column(db.Date)  # 生日
+    location = db.Column(db.String(100))  # 所在地
+
+    # 联系方式(可选)
+    phone = db.Column(db.String(20))  # 手机号
+    wechat_id = db.Column(db.String(80))  # 微信号
+
+    # 实名认证信息(可选)
+    real_name = db.Column(db.String(30))  # 真实姓名
+    id_number = db.Column(db.String(18))  # 身份证号(加密存储)
+    is_verified = db.Column(db.Boolean, default=False)  # 是否实名认证
+    verify_time = db.Column(db.DateTime)  # 实名认证时间
+
+    # 投资相关信息(可选)
+    trading_experience = db.Column(db.Integer)  # 炒股年限
+    investment_style = db.Column(db.String(50))  # 投资风格
+    risk_preference = db.Column(db.String(20))  # 风险偏好
+    investment_amount = db.Column(db.String(20))  # 投资规模
+    preferred_markets = db.Column(db.String(200), default='[]')  # 偏好市场 JSON
+
+    # 社区信息(系统自动更新)
+    user_level = db.Column(db.Integer, default=1)  # 用户等级
+    reputation_score = db.Column(db.Integer, default=0)  # 信用积分
+    contribution_point = db.Column(db.Integer, default=0)  # 贡献点数
+    post_count = db.Column(db.Integer, default=0)  # 发帖数
+    comment_count = db.Column(db.Integer, default=0)  # 评论数
+    follower_count = db.Column(db.Integer, default=0)  # 粉丝数
+    following_count = db.Column(db.Integer, default=0)  # 关注数
+
+    # 创作者信息(可选)
+    is_creator = db.Column(db.Boolean, default=False)  # 是否创作者
+    creator_type = db.Column(db.String(20))  # 创作者类型
+    creator_tags = db.Column(db.String(200), default='[]')  # 创作者标签 JSON
+
+    # 系统设置
+    email_notifications = db.Column(db.Boolean, default=True)  # 邮件通知
+    sms_notifications = db.Column(db.Boolean, default=False)  # 短信通知
+    wechat_notifications = db.Column(db.Boolean, default=False)  # 微信通知
+    notification_preferences = db.Column(db.String(500), default='{}')  # 通知偏好 JSON
+    privacy_level = db.Column(db.String(20), default='public')  # 隐私级别
+    theme_preference = db.Column(db.String(20), default='light')  # 主题偏好
+    blocked_keywords = db.Column(db.String(500), default='[]')  # 屏蔽关键词 JSON
+    # 手机号验证
+    phone_confirmed = db.Column(db.Boolean, default=False)  # 手机是否验证
+    phone_confirm_time = db.Column(db.DateTime)  # 手机验证时间
+
+    def __init__(self, username, email=None, password=None, phone=None):
+        self.username = username
+        if email:
+            self.email = email
+        if password:
+            self.set_password(password)
+        if phone:
+            self.phone = phone
+
+    def set_password(self, password):
+        from werkzeug.security import generate_password_hash
+        self.password_hash = generate_password_hash(password)
+
+    def check_password(self, password):
+        from werkzeug.security import check_password_hash
+        return check_password_hash(self.password_hash, password)
+
+    def update_last_seen(self):
+        self.last_seen = beijing_now()
+        db.session.commit()
+
+    def get_preferred_markets(self):
+        try:
+            return json.loads(self.preferred_markets)
+        except (json.JSONDecodeError, TypeError):
+            return []
+
+    def get_blocked_keywords(self):
+        try:
+            return json.loads(self.blocked_keywords)
+        except (json.JSONDecodeError, TypeError):
+            return []
+
+    def get_notification_preferences(self):
+        try:
+            return json.loads(self.notification_preferences)
+        except (json.JSONDecodeError, TypeError):
+            return {}
+
+    def get_creator_tags(self):
+        try:
+            return json.loads(self.creator_tags)
+        except (json.JSONDecodeError, TypeError):
+            return []
+
+    def set_preferred_markets(self, markets):
+        self.preferred_markets = json.dumps(markets)
+
+    def set_blocked_keywords(self, keywords):
+        self.blocked_keywords = json.dumps(keywords)
+
+    def set_notification_preferences(self, preferences):
+        self.notification_preferences = json.dumps(preferences)
+
+    def set_creator_tags(self, tags):
+        self.creator_tags = json.dumps(tags)
+
+    def to_dict(self):
+        return {
+            'id': self.id,
+            'username': self.username,
+            'email': self.email,
+            'nickname': self.nickname,
+            'avatar_url': self.avatar_url,
+            'bio': self.bio,
+            'created_at': self.created_at.isoformat() if self.created_at else None,
+            'last_seen': self.last_seen.isoformat() if self.last_seen else None,
+            'status': self.status,
+            'user_level': self.user_level,
+            'reputation_score': self.reputation_score,
+            'post_count': self.post_count,
+            'follower_count': self.follower_count,
+            'following_count': self.following_count
+        }
+
+    def __repr__(self):
+        return f'<User {self.username}>'
+
+class Comment(db.Model):
+    """评论"""
+    id = db.Column(db.Integer, primary_key=True)
+    post_id = db.Column(db.Integer, db.ForeignKey('post.id'), nullable=False)
+    user_id = db.Column(db.Integer, db.ForeignKey('user.id'), nullable=False)
+    content = db.Column(db.Text, nullable=False)
+    parent_id = db.Column(db.Integer, db.ForeignKey('comment.id'))  # 父评论ID,用于回复
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    status = db.Column(db.String(20), default='active')
+
+    user = db.relationship('User', backref='comments')
+    replies = db.relationship('Comment', backref=db.backref('parent', remote_side=[id]))
+
+
+class CommentLike(db.Model):
+    """评论点赞记录（基于session_id以兼容匿名点赞）"""
+    __tablename__ = 'comment_like'
+
+    id = db.Column(db.Integer, primary_key=True)
+    comment_id = db.Column(db.Integer, db.ForeignKey('comment.id'), nullable=False)
+    session_id = db.Column(db.String(100), nullable=False)
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    __table_args__ = (db.UniqueConstraint('comment_id', 'session_id'),)
+
+class EventFollow(db.Model):
+    """事件关注"""
+    id = db.Column(db.Integer, primary_key=True)
+    user_id = db.Column(db.Integer, db.ForeignKey('user.id'), nullable=False)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'), nullable=False)
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    user = db.relationship('User', backref='event_follows')
+
+    __table_args__ = (db.UniqueConstraint('user_id', 'event_id'),)
+
+class PostLike(db.Model):
+    """帖子点赞"""
+    id = db.Column(db.Integer, primary_key=True)
+    user_id = db.Column(db.Integer, db.ForeignKey('user.id'), nullable=False)
+    post_id = db.Column(db.Integer, db.ForeignKey('post.id'), nullable=False)
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    user = db.relationship('User', backref='post_likes')
+
+    __table_args__ = (db.UniqueConstraint('user_id', 'post_id'),)
+
+class Event(db.Model):
+    """事件模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    title = db.Column(db.String(200), nullable=False)
+    description = db.Column(db.Text)
+
+    # 事件类型与状态
+    event_type = db.Column(db.String(50))
+    status = db.Column(db.String(20), default='active')
+
+    # 时间相关
+    start_time = db.Column(db.DateTime, default=beijing_now)
+    end_time = db.Column(db.DateTime)
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now)
+
+    # 热度与统计
+    hot_score = db.Column(db.Float, default=0)
+    view_count = db.Column(db.Integer, default=0)
+    trending_score = db.Column(db.Float, default=0)
+    post_count = db.Column(db.Integer, default=0)
+    follower_count = db.Column(db.Integer, default=0)
+
+    # 关联信息
+    related_industries = db.Column(db.JSON)
+    keywords = db.Column(db.JSON)
+    files = db.Column(db.JSON)
+    importance = db.Column(db.String(20))
+    related_avg_chg = db.Column(db.Float, default=0)
+    related_max_chg = db.Column(db.Float, default=0)
+    related_week_chg = db.Column(db.Float, default=0)
+
+    # 新增字段
+    invest_score = db.Column(db.Integer)  # 超预期得分
+    expectation_surprise_score = db.Column(db.Integer)
+    # 创建者信息
+    creator_id = db.Column(db.Integer, db.ForeignKey('user.id'))
+    creator = db.relationship('User', backref='created_events')
+
+    # 关系
+    posts = db.relationship('Post', backref='event', lazy='dynamic')
+    followers = db.relationship('EventFollow', backref='event', lazy='dynamic')
+    related_stocks = db.relationship('RelatedStock', backref='event', lazy='dynamic')
+    historical_events = db.relationship('HistoricalEvent', backref='event', lazy='dynamic')
+    related_data = db.relationship('RelatedData', backref='event', lazy='dynamic')
+    related_concepts = db.relationship('RelatedConcepts', backref='event', lazy='dynamic')
+
+    @property
+    def keywords_list(self):
+        if isinstance(self.keywords, list):
+            return self.keywords
+        elif isinstance(self.keywords, str):
+            try:
+                return json.loads(self.keywords)
+            except (json.JSONDecodeError, TypeError):
+                return []
+        return []
+
+    def set_keywords(self, keywords):
+        if isinstance(keywords, list):
+            self.keywords = keywords
+        elif isinstance(keywords, str):
+            try:
+                self.keywords = json.loads(keywords)
+            except json.JSONDecodeError:
+                self.keywords = [keywords]
+        else:
+            self.keywords = []
+
+class RelatedStock(db.Model):
+    """相关标的模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'))
+    stock_code = db.Column(db.String(20))  # 股票代码
+    stock_name = db.Column(db.String(100))  # 股票名称
+    sector = db.Column(db.String(100))  # 关联类型
+    relation_desc = db.Column(db.String(1024))  # 关联原因描述
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now, onupdate=beijing_now)
+    correlation = db.Column(db.Float())
+    momentum = db.Column(db.String(1024)) #动量
+
+class RelatedData(db.Model):
+    """关联数据模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'))
+    title = db.Column(db.String(200))  # 数据标题
+    data_type = db.Column(db.String(50))  # 数据类型
+    data_content = db.Column(db.JSON)  # 数据内容(JSON格式)
+    description = db.Column(db.Text)  # 数据描述
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+class RelatedConcepts(db.Model):
+    """关联数据模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'))
+    concept_code = db.Column(db.String(20))  # 数据标题
+    concept = db.Column(db.String(100))  # 数据类型
+    reason = db.Column(db.Text)  # 数据描述
+    image_paths = db.Column(db.JSON)  # 数据内容(JSON格式)
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    @property
+    def image_paths_list(self):
+        if isinstance(self.image_paths, list):
+            return self.image_paths
+        elif isinstance(self.image_paths, str):
+            try:
+                return json.loads(self.image_paths)
+            except (json.JSONDecodeError, TypeError):
+                return []
+        return []
+
+    def set_image_paths(self, image_paths):
+        if isinstance(image_paths, list):
+            self.image_paths = image_paths
+        elif isinstance(image_paths, str):
+            try:
+                self.image_paths = json.loads(image_paths)
+            except json.JSONDecodeError:
+                self.image_paths = [image_paths]
+        else:
+            self.image_paths = []
+
+    def get_first_image_path(self):
+        paths = self.image_paths_list
+        return paths[0] if paths else None
+
+class EventHotHistory(db.Model):
+    """事件热度历史记录"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'))
+    score = db.Column(db.Float)  # 总分
+    interaction_score = db.Column(db.Float)  # 互动分数
+    follow_score = db.Column(db.Float)  # 关注度分数
+    view_score = db.Column(db.Float)  # 浏览量分数
+    recent_activity_score = db.Column(db.Float)  # 最近活跃度分数
+    time_decay = db.Column(db.Float)  # 时间衰减因子
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    event = db.relationship('Event', backref='hot_history')
+
+class EventTransmissionNode(db.Model):
+    """事件传导节点模型"""
+    __tablename__ = 'event_transmission_nodes'
+
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'), nullable=False)
+    node_type = db.Column(db.Enum('company', 'industry', 'policy', 'technology',
+                                  'market', 'event', 'other'), nullable=False)
+    node_name = db.Column(db.String(200), nullable=False)
+    node_description = db.Column(db.Text)
+    importance_score = db.Column(db.Integer, default=50)
+    stock_code = db.Column(db.String(20))
+    is_main_event = db.Column(db.Boolean, default=False)
+
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now, onupdate=beijing_now)
+
+    # Relationships
+    event = db.relationship('Event', backref='transmission_nodes')
+    outgoing_edges = db.relationship('EventTransmissionEdge',
+                                     foreign_keys='EventTransmissionEdge.from_node_id',
+                                     backref='from_node', cascade='all, delete-orphan')
+    incoming_edges = db.relationship('EventTransmissionEdge',
+                                     foreign_keys='EventTransmissionEdge.to_node_id',
+                                     backref='to_node', cascade='all, delete-orphan')
+
+    __table_args__ = (
+        db.Index('idx_event_node_type', 'event_id', 'node_type'),
+        db.Index('idx_node_name', 'node_name'),
+    )
+
+class EventTransmissionEdge(db.Model):
+    """事件传导边模型"""
+    __tablename__ = 'event_transmission_edges'
+
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'), nullable=False)
+    from_node_id = db.Column(db.Integer, db.ForeignKey('event_transmission_nodes.id'), nullable=False)
+    to_node_id = db.Column(db.Integer, db.ForeignKey('event_transmission_nodes.id'), nullable=False)
+
+    transmission_type = db.Column(db.Enum('supply_chain', 'competition', 'policy',
+                                          'technology', 'capital_flow', 'expectation',
+                                          'cyclic_effect', 'other'), nullable=False)
+    transmission_mechanism = db.Column(db.Text)
+    direction = db.Column(db.Enum('positive', 'negative', 'neutral', 'mixed'), default='neutral')
+    strength = db.Column(db.Integer, default=50)
+    impact = db.Column(db.Text)
+    is_circular = db.Column(db.Boolean, default=False)
+
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now, onupdate=beijing_now)
+
+    # Relationship
+    event = db.relationship('Event', backref='transmission_edges')
+
+    __table_args__ = (
+        db.Index('idx_event_edge_type', 'event_id', 'transmission_type'),
+        db.Index('idx_from_to_nodes', 'from_node_id', 'to_node_id'),
+    )
+
+class EventSankeyFlow(db.Model):
+    """事件桑基流模型"""
+    __tablename__ = 'event_sankey_flows'
+
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'), nullable=False)
+
+    # 流的基本信息
+    source_node = db.Column(db.String(200), nullable=False)
+    source_type = db.Column(db.Enum('event', 'policy', 'technology', 'industry',
+                                    'company', 'product'), nullable=False)
+    source_level = db.Column(db.Integer, nullable=False, default=0)
+
+    target_node = db.Column(db.String(200), nullable=False)
+    target_type = db.Column(db.Enum('policy', 'technology', 'industry',
+                                    'company', 'product'), nullable=False)
+    target_level = db.Column(db.Integer, nullable=False, default=1)
+
+    # 流量信息
+    flow_value = db.Column(db.Numeric(10, 2), nullable=False)
+    flow_ratio = db.Column(db.Numeric(5, 4), nullable=False)
+
+    # 传导机制
+    transmission_path = db.Column(db.String(500))
+    impact_description = db.Column(db.Text)
+    evidence_strength = db.Column(db.Integer, default=50)
+
+    # 时间戳
+    created_at = db.Column(db.DateTime, default=beijing_now)
+    updated_at = db.Column(db.DateTime, default=beijing_now, onupdate=beijing_now)
+
+    # 关系
+    event = db.relationship('Event', backref='sankey_flows')
+
+    __table_args__ = (
+        db.Index('idx_event_flow', 'event_id'),
+        db.Index('idx_source_target', 'source_node', 'target_node'),
+    )
+
+class HistoricalEvent(db.Model):
+    """历史事件模型"""
+    id = db.Column(db.Integer, primary_key=True)
+    event_id = db.Column(db.Integer, db.ForeignKey('event.id'))
+    title = db.Column(db.String(200))
+    content = db.Column(db.Text)
+    event_date = db.Column(db.DateTime)
+    relevance = db.Column(db.Integer)  # 相关性
+    importance = db.Column(db.Integer)  # 重要程度
+    related_stock = db.Column(db.JSON)  # 保留JSON字段
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    # 新增关系
+    stocks = db.relationship('HistoricalEventStock', backref='historical_event', lazy='dynamic',
+                            cascade='all, delete-orphan')
+
+class HistoricalEventStock(db.Model):
+    """历史事件相关股票模型"""
+    __tablename__ = 'historical_event_stocks'
+
+    id = db.Column(db.Integer, primary_key=True)
+    historical_event_id = db.Column(db.Integer, db.ForeignKey('historical_event.id'), nullable=False)
+    stock_code = db.Column(db.String(20), nullable=False)
+    stock_name = db.Column(db.String(50))
+    relation_desc = db.Column(db.Text)
+    correlation = db.Column(db.Float, default=0.5)
+    sector = db.Column(db.String(100))
+    created_at = db.Column(db.DateTime, default=beijing_now)
+
+    __table_args__ = (
+        db.Index('idx_historical_event_stock', 'historical_event_id', 'stock_code'),
+    ) 

app/routes/__init__.py

@@ -0,0 +1 @@
+# 路由包初始化文件 

app/routes/calendar.py

@@ -0,0 +1,121 @@
+from flask import Blueprint, request, jsonify
+from datetime import datetime, timedelta
+import json
+
+bp = Blueprint('calendar', __name__, url_prefix='/api/v1/calendar')
+
+@bp.route('/event-counts', methods=['GET'])
+def get_event_counts():
+    """获取事件数量统计"""
+    try:
+        year = request.args.get('year', '2027')
+        month = request.args.get('month', '10')
+        
+        # 模拟事件数量数据
+        event_counts = []
+        for day in range(1, 32):
+            count = (day % 7) + 1  # 模拟每天1-7个事件
+            event_counts.append({
+                'date': f'{year}-{month.zfill(2)}-{day:02d}',
+                'count': count
+            })
+
+        return jsonify({
+            'success': True,
+            'data': event_counts
+        })
+
+    except Exception as e:
+        print(f"Error getting event counts: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/events', methods=['GET'])
+def get_calendar_events():
+    """获取日历事件"""
+    try:
+        year = request.args.get('year', '2027')
+        month = request.args.get('month', '10')
+        event_type = request.args.get('type', 'all')
+        
+        # 模拟日历事件数据
+        events = []
+        for day in range(1, 32):
+            for i in range((day % 7) + 1):
+                event = {
+                    'id': f'{year}{month.zfill(2)}{day:02d}{i}',
+                    'title': f'事件{day}-{i+1}',
+                    'date': f'{year}-{month.zfill(2)}-{day:02d}',
+                    'type': ['政策', '技术', '产业', '公司'][i % 4],
+                    'importance': ['高', '中', '低'][i % 3],
+                    'status': 'active'
+                }
+                events.append(event)
+
+        # 根据类型过滤
+        if event_type != 'all':
+            events = [e for e in events if e['type'] == event_type]
+
+        return jsonify({
+            'success': True,
+            'data': events
+        })
+
+    except Exception as e:
+        print(f"Error getting calendar events: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/events/<int:event_id>', methods=['GET'])
+def get_calendar_event_detail(event_id):
+    """获取日历事件详情"""
+    try:
+        # 模拟事件详情
+        event_detail = {
+            'id': event_id,
+            'title': f'事件{event_id}详情',
+            'description': f'这是事件{event_id}的详细描述',
+            'date': '2027-10-15',
+            'type': '政策',
+            'importance': '高',
+            'status': 'active',
+            'related_stocks': [
+                {'code': '000001', 'name': '股票A'},
+                {'code': '000002', 'name': '股票B'}
+            ],
+            'keywords': ['政策', '改革', '创新'],
+            'files': [
+                {'name': '报告.pdf', 'url': '/files/report.pdf'},
+                {'name': '数据.xlsx', 'url': '/files/data.xlsx'}
+            ]
+        }
+
+        return jsonify({
+            'success': True,
+            'data': event_detail
+        })
+
+    except Exception as e:
+        print(f"Error getting calendar event detail: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+def get_event_class(count):
+    """根据事件数量获取CSS类"""
+    if count == 0:
+        return 'no-events'
+    elif count <= 3:
+        return 'few-events'
+    elif count <= 6:
+        return 'medium-events'
+    else:
+        return 'many-events'
+
+def parse_json_field(field_value):
+    """解析JSON字段"""
+    if isinstance(field_value, str):
+        try:
+            return json.loads(field_value)
+        except (json.JSONDecodeError, TypeError):
+            return []
+    elif isinstance(field_value, (list, dict)):
+        return field_value
+    else:
+        return [] 

app/routes/events.py

@@ -0,0 +1,385 @@
+from flask import Blueprint, request, jsonify
+from app import db
+from app.models import Event, RelatedStock, RelatedConcepts, HistoricalEvent, EventTransmissionNode, EventTransmissionEdge, EventSankeyFlow
+from datetime import datetime
+import json
+
+bp = Blueprint('events', __name__, url_prefix='/api/events')
+
+
+
+@bp.route('/<int:event_id>', methods=['GET'])
+def get_event_detail(event_id):
+    """获取事件详情"""
+    try:
+        event = Event.query.get(event_id)
+        if not event:
+            return jsonify({'success': False, 'error': '事件不存在'}), 404
+
+        # 获取相关股票
+        related_stocks = RelatedStock.query.filter_by(event_id=event_id).all()
+        stocks_data = []
+        for stock in related_stocks:
+            stocks_data.append({
+                'id': stock.id,
+                'stock_code': stock.stock_code,
+                'stock_name': stock.stock_name,
+                'sector': stock.sector,
+                'relation_desc': stock.relation_desc,
+                'correlation': stock.correlation,
+                'momentum': stock.momentum,
+                'created_at': stock.created_at.isoformat() if stock.created_at else None
+            })
+
+        # 获取相关概念
+        related_concepts = RelatedConcepts.query.filter_by(event_id=event_id).all()
+        concepts_data = []
+        for concept in related_concepts:
+            concepts_data.append({
+                'id': concept.id,
+                'concept_code': concept.concept_code,
+                'concept': concept.concept,
+                'reason': concept.reason,
+                'image_paths': concept.image_paths_list,
+                'created_at': concept.created_at.isoformat() if concept.created_at else None
+            })
+
+        event_data = {
+            'id': event.id,
+            'title': event.title,
+            'description': event.description,
+            'event_type': event.event_type,
+            'status': event.status,
+            'start_time': event.start_time.isoformat() if event.start_time else None,
+            'end_time': event.end_time.isoformat() if event.end_time else None,
+            'created_at': event.created_at.isoformat() if event.created_at else None,
+            'updated_at': event.updated_at.isoformat() if event.updated_at else None,
+            'hot_score': event.hot_score,
+            'view_count': event.view_count,
+            'trending_score': event.trending_score,
+            'post_count': event.post_count,
+            'follower_count': event.follower_count,
+            'related_industries': event.related_industries,
+            'keywords': event.keywords_list,
+            'files': event.files,
+            'importance': event.importance,
+            'related_avg_chg': event.related_avg_chg,
+            'related_max_chg': event.related_max_chg,
+            'related_week_chg': event.related_week_chg,
+            'invest_score': event.invest_score,
+            'expectation_surprise_score': event.expectation_surprise_score,
+            'related_stocks': stocks_data,
+            'related_concepts': concepts_data
+        }
+
+        return jsonify({
+            'success': True,
+            'data': event_data
+        })
+
+    except Exception as e:
+        print(f"Error getting event detail: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/stocks', methods=['GET'])
+def get_related_stocks(event_id):
+    """获取事件相关股票"""
+    try:
+        stocks = RelatedStock.query.filter_by(event_id=event_id).all()
+        stocks_data = []
+        for stock in stocks:
+            stocks_data.append({
+                'id': stock.id,
+                'stock_code': stock.stock_code,
+                'stock_name': stock.stock_name,
+                'sector': stock.sector,
+                'relation_desc': stock.relation_desc,
+                'correlation': stock.correlation,
+                'momentum': stock.momentum,
+                'created_at': stock.created_at.isoformat() if stock.created_at else None
+            })
+
+        return jsonify({
+            'success': True,
+            'data': stocks_data
+        })
+
+    except Exception as e:
+        print(f"Error getting related stocks: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/stocks', methods=['POST'])
+def add_related_stock(event_id):
+    """添加相关股票"""
+    try:
+        data = request.get_json()
+        if not data:
+            return jsonify({'success': False, 'error': '请提供数据'}), 400
+
+        # 检查事件是否存在
+        event = Event.query.get(event_id)
+        if not event:
+            return jsonify({'success': False, 'error': '事件不存在'}), 404
+
+        # 创建新的相关股票记录
+        new_stock = RelatedStock(
+            event_id=event_id,
+            stock_code=data['stock_code'],
+            stock_name=data.get('stock_name', ''),
+            sector=data.get('sector', ''),
+            relation_desc=data['relation_desc'],
+            correlation=data.get('correlation', 0.5),
+            momentum=data.get('momentum', '')
+        )
+
+        db.session.add(new_stock)
+        db.session.commit()
+
+        return jsonify({
+            'success': True,
+            'message': '相关股票添加成功',
+            'data': {
+                'id': new_stock.id,
+                'stock_code': new_stock.stock_code,
+                'stock_name': new_stock.stock_name,
+                'sector': new_stock.sector,
+                'relation_desc': new_stock.relation_desc,
+                'correlation': new_stock.correlation,
+                'momentum': new_stock.momentum
+            }
+        })
+
+    except Exception as e:
+        db.session.rollback()
+        print(f"Error adding related stock: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/stocks/<int:stock_id>', methods=['DELETE'])
+def delete_related_stock(stock_id):
+    """删除相关股票"""
+    try:
+        stock = RelatedStock.query.get(stock_id)
+        if not stock:
+            return jsonify({'success': False, 'error': '相关股票不存在'}), 404
+
+        db.session.delete(stock)
+        db.session.commit()
+
+        return jsonify({
+            'success': True,
+            'message': '相关股票删除成功'
+        })
+
+    except Exception as e:
+        db.session.rollback()
+        print(f"Error deleting related stock: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/concepts', methods=['GET'])
+def get_related_concepts(event_id):
+    """获取事件相关概念"""
+    try:
+        concepts = RelatedConcepts.query.filter_by(event_id=event_id).all()
+        concepts_data = []
+        for concept in concepts:
+            concepts_data.append({
+                'id': concept.id,
+                'concept_code': concept.concept_code,
+                'concept': concept.concept,
+                'reason': concept.reason,
+                'image_paths': concept.image_paths_list,
+                'created_at': concept.created_at.isoformat() if concept.created_at else None
+            })
+
+        return jsonify({
+            'success': True,
+            'data': concepts_data
+        })
+
+    except Exception as e:
+        print(f"Error getting related concepts: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/historical', methods=['GET'])
+def get_historical_events(event_id):
+    """获取历史事件"""
+    try:
+        historical_events = HistoricalEvent.query.filter_by(event_id=event_id).all()
+        events_data = []
+        for event in historical_events:
+            events_data.append({
+                'id': event.id,
+                'title': event.title,
+                'content': event.content,
+                'event_date': event.event_date.isoformat() if event.event_date else None,
+                'relevance': event.relevance,
+                'importance': event.importance,
+                'related_stock': event.related_stock,
+                'created_at': event.created_at.isoformat() if event.created_at else None
+            })
+
+        return jsonify({
+            'success': True,
+            'data': events_data
+        })
+
+    except Exception as e:
+        print(f"Error getting historical events: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/expectation-score', methods=['GET'])
+def get_expectation_score(event_id):
+    """获取超预期得分"""
+    try:
+        event = Event.query.get(event_id)
+        if not event:
+            return jsonify({'success': False, 'error': '事件不存在'}), 404
+
+        return jsonify({
+            'success': True,
+            'data': {
+                'invest_score': event.invest_score,
+                'expectation_surprise_score': event.expectation_surprise_score
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting expectation score: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/follow', methods=['POST'])
+def toggle_event_follow(event_id):
+    """关注/取消关注事件"""
+    try:
+        # 这里需要用户认证，暂时返回成功
+        return jsonify({
+            'success': True,
+            'message': '关注状态更新成功'
+        })
+
+    except Exception as e:
+        print(f"Error toggling event follow: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/transmission', methods=['GET'])
+def get_transmission_chain(event_id):
+    """获取事件传导链"""
+    try:
+        # 获取传导节点
+        nodes = EventTransmissionNode.query.filter_by(event_id=event_id).all()
+        nodes_data = []
+        for node in nodes:
+            nodes_data.append({
+                'id': node.id,
+                'node_type': node.node_type,
+                'node_name': node.node_name,
+                'node_description': node.node_description,
+                'importance_score': node.importance_score,
+                'stock_code': node.stock_code,
+                'is_main_event': node.is_main_event
+            })
+
+        # 获取传导边
+        edges = EventTransmissionEdge.query.filter_by(event_id=event_id).all()
+        edges_data = []
+        for edge in edges:
+            edges_data.append({
+                'id': edge.id,
+                'from_node_id': edge.from_node_id,
+                'to_node_id': edge.to_node_id,
+                'transmission_type': edge.transmission_type,
+                'transmission_mechanism': edge.transmission_mechanism,
+                'direction': edge.direction,
+                'strength': edge.strength,
+                'impact': edge.impact,
+                'is_circular': edge.is_circular
+            })
+
+        return jsonify({
+            'success': True,
+            'data': {
+                'nodes': nodes_data,
+                'edges': edges_data
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting transmission chain: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/sankey-data')
+def get_event_sankey_data(event_id):
+    """获取事件桑基图数据"""
+    try:
+        flows = EventSankeyFlow.query.filter_by(event_id=event_id).all()
+        flows_data = []
+        for flow in flows:
+            flows_data.append({
+                'id': flow.id,
+                'source_node': flow.source_node,
+                'source_type': flow.source_type,
+                'source_level': flow.source_level,
+                'target_node': flow.target_node,
+                'target_type': flow.target_type,
+                'target_level': flow.target_level,
+                'flow_value': float(flow.flow_value),
+                'flow_ratio': float(flow.flow_ratio),
+                'transmission_path': flow.transmission_path,
+                'impact_description': flow.impact_description,
+                'evidence_strength': flow.evidence_strength
+            })
+
+        return jsonify({
+            'success': True,
+            'data': flows_data
+        })
+
+    except Exception as e:
+        print(f"Error getting sankey data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/chain-analysis')
+def get_event_chain_analysis(event_id):
+    """获取事件链分析"""
+    try:
+        # 这里可以添加更复杂的链分析逻辑
+        return jsonify({
+            'success': True,
+            'data': {
+                'event_id': event_id,
+                'analysis': '链分析数据'
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting chain analysis: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<int:event_id>/chain-node/<int:node_id>', methods=['GET'])
+def get_chain_node_detail(event_id, node_id):
+    """获取链节点详情"""
+    try:
+        node = EventTransmissionNode.query.filter_by(
+            event_id=event_id, 
+            id=node_id
+        ).first()
+        
+        if not node:
+            return jsonify({'success': False, 'error': '节点不存在'}), 404
+
+        return jsonify({
+            'success': True,
+            'data': {
+                'id': node.id,
+                'node_type': node.node_type,
+                'node_name': node.node_name,
+                'node_description': node.node_description,
+                'importance_score': node.importance_score,
+                'stock_code': node.stock_code,
+                'is_main_event': node.is_main_event
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting chain node detail: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500 

app/routes/industries.py

@@ -0,0 +1,511 @@
+from flask import Blueprint, request, jsonify
+import json
+
+bp = Blueprint('industries', __name__, url_prefix='/api')
+
+@bp.route('/classifications', methods=['GET'])
+def get_classifications():
+    """获取行业分类"""
+    try:
+        # 模拟行业分类数据
+        classifications = [
+            {
+                'id': 1,
+                'name': '申万一级行业',
+                'description': '申万一级行业分类标准',
+                'levels': [
+                    {'id': 1, 'name': '农林牧渔'},
+                    {'id': 2, 'name': '采掘'},
+                    {'id': 3, 'name': '化工'},
+                    {'id': 4, 'name': '钢铁'},
+                    {'id': 5, 'name': '有色金属'},
+                    {'id': 6, 'name': '建筑材料'},
+                    {'id': 7, 'name': '建筑装饰'},
+                    {'id': 8, 'name': '电气设备'},
+                    {'id': 9, 'name': '国防军工'},
+                    {'id': 10, 'name': '汽车'},
+                    {'id': 11, 'name': '家用电器'},
+                    {'id': 12, 'name': '纺织服装'},
+                    {'id': 13, 'name': '轻工制造'},
+                    {'id': 14, 'name': '医药生物'},
+                    {'id': 15, 'name': '公用事业'},
+                    {'id': 16, 'name': '交通运输'},
+                    {'id': 17, 'name': '房地产'},
+                    {'id': 18, 'name': '商业贸易'},
+                    {'id': 19, 'name': '休闲服务'},
+                    {'id': 20, 'name': '银行'},
+                    {'id': 21, 'name': '非银金融'},
+                    {'id': 22, 'name': '综合'},
+                    {'id': 23, 'name': '计算机'},
+                    {'id': 24, 'name': '传媒'},
+                    {'id': 25, 'name': '通信'},
+                    {'id': 26, 'name': '电子'},
+                    {'id': 27, 'name': '机械设备'},
+                    {'id': 28, 'name': '食品饮料'}
+                ]
+            }
+        ]
+
+        return jsonify({
+            'success': True,
+            'data': classifications
+        })
+
+    except Exception as e:
+        print(f"Error getting classifications: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/levels', methods=['GET'])
+def get_industry_levels():
+    """获取行业层级"""
+    try:
+        classification_id = request.args.get('classification_id', '1')
+        
+        # 模拟行业层级数据
+        levels = [
+            {
+                'id': 1,
+                'name': '农林牧渔',
+                'code': '801010',
+                'description': '农业、林业、畜牧业、渔业',
+                'stock_count': 45,
+                'avg_change': 1.2,
+                'total_market_cap': 500000000000,
+                'sub_industries': [
+                    {'id': 101, 'name': '种植业', 'stock_count': 20},
+                    {'id': 102, 'name': '林业', 'stock_count': 8},
+                    {'id': 103, 'name': '畜牧业', 'stock_count': 12},
+                    {'id': 104, 'name': '渔业', 'stock_count': 5}
+                ]
+            },
+            {
+                'id': 2,
+                'name': '采掘',
+                'code': '801020',
+                'description': '煤炭、石油、天然气、有色金属矿采选',
+                'stock_count': 38,
+                'avg_change': 0.8,
+                'total_market_cap': 800000000000,
+                'sub_industries': [
+                    {'id': 201, 'name': '煤炭开采', 'stock_count': 15},
+                    {'id': 202, 'name': '石油开采', 'stock_count': 8},
+                    {'id': 203, 'name': '有色金属矿采选', 'stock_count': 15}
+                ]
+            },
+            {
+                'id': 3,
+                'name': '化工',
+                'code': '801030',
+                'description': '化学原料、化学制品、化学纤维',
+                'stock_count': 156,
+                'avg_change': 1.5,
+                'total_market_cap': 1200000000000,
+                'sub_industries': [
+                    {'id': 301, 'name': '化学原料', 'stock_count': 45},
+                    {'id': 302, 'name': '化学制品', 'stock_count': 78},
+                    {'id': 303, 'name': '化学纤维', 'stock_count': 33}
+                ]
+            },
+            {
+                'id': 4,
+                'name': '钢铁',
+                'code': '801040',
+                'description': '钢铁冶炼、钢铁制品',
+                'stock_count': 32,
+                'avg_change': 0.6,
+                'total_market_cap': 600000000000,
+                'sub_industries': [
+                    {'id': 401, 'name': '钢铁冶炼', 'stock_count': 18},
+                    {'id': 402, 'name': '钢铁制品', 'stock_count': 14}
+                ]
+            },
+            {
+                'id': 5,
+                'name': '有色金属',
+                'code': '801050',
+                'description': '有色金属冶炼、有色金属制品',
+                'stock_count': 67,
+                'avg_change': 1.8,
+                'total_market_cap': 900000000000,
+                'sub_industries': [
+                    {'id': 501, 'name': '有色金属冶炼', 'stock_count': 35},
+                    {'id': 502, 'name': '有色金属制品', 'stock_count': 32}
+                ]
+            },
+            {
+                'id': 6,
+                'name': '建筑材料',
+                'code': '801060',
+                'description': '水泥、玻璃、陶瓷、其他建材',
+                'stock_count': 89,
+                'avg_change': 1.1,
+                'total_market_cap': 700000000000,
+                'sub_industries': [
+                    {'id': 601, 'name': '水泥', 'stock_count': 25},
+                    {'id': 602, 'name': '玻璃', 'stock_count': 18},
+                    {'id': 603, 'name': '陶瓷', 'stock_count': 12},
+                    {'id': 604, 'name': '其他建材', 'stock_count': 34}
+                ]
+            },
+            {
+                'id': 7,
+                'name': '建筑装饰',
+                'code': '801070',
+                'description': '房屋建设、装修装饰、园林工程',
+                'stock_count': 45,
+                'avg_change': 0.9,
+                'total_market_cap': 400000000000,
+                'sub_industries': [
+                    {'id': 701, 'name': '房屋建设', 'stock_count': 15},
+                    {'id': 702, 'name': '装修装饰', 'stock_count': 20},
+                    {'id': 703, 'name': '园林工程', 'stock_count': 10}
+                ]
+            },
+            {
+                'id': 8,
+                'name': '电气设备',
+                'code': '801080',
+                'description': '电机、电气自动化设备、电源设备',
+                'stock_count': 134,
+                'avg_change': 2.1,
+                'total_market_cap': 1500000000000,
+                'sub_industries': [
+                    {'id': 801, 'name': '电机', 'stock_count': 25},
+                    {'id': 802, 'name': '电气自动化设备', 'stock_count': 45},
+                    {'id': 803, 'name': '电源设备', 'stock_count': 64}
+                ]
+            },
+            {
+                'id': 9,
+                'name': '国防军工',
+                'code': '801090',
+                'description': '航天装备、航空装备、地面兵装',
+                'stock_count': 28,
+                'avg_change': 1.6,
+                'total_market_cap': 300000000000,
+                'sub_industries': [
+                    {'id': 901, 'name': '航天装备', 'stock_count': 8},
+                    {'id': 902, 'name': '航空装备', 'stock_count': 12},
+                    {'id': 903, 'name': '地面兵装', 'stock_count': 8}
+                ]
+            },
+            {
+                'id': 10,
+                'name': '汽车',
+                'code': '801100',
+                'description': '汽车整车、汽车零部件',
+                'stock_count': 78,
+                'avg_change': 1.3,
+                'total_market_cap': 1100000000000,
+                'sub_industries': [
+                    {'id': 1001, 'name': '汽车整车', 'stock_count': 25},
+                    {'id': 1002, 'name': '汽车零部件', 'stock_count': 53}
+                ]
+            },
+            {
+                'id': 11,
+                'name': '家用电器',
+                'code': '801110',
+                'description': '白色家电、小家电、家电零部件',
+                'stock_count': 56,
+                'avg_change': 1.0,
+                'total_market_cap': 800000000000,
+                'sub_industries': [
+                    {'id': 1101, 'name': '白色家电', 'stock_count': 20},
+                    {'id': 1102, 'name': '小家电', 'stock_count': 18},
+                    {'id': 1103, 'name': '家电零部件', 'stock_count': 18}
+                ]
+            },
+            {
+                'id': 12,
+                'name': '纺织服装',
+                'code': '801120',
+                'description': '纺织制造、服装家纺',
+                'stock_count': 67,
+                'avg_change': 0.7,
+                'total_market_cap': 500000000000,
+                'sub_industries': [
+                    {'id': 1201, 'name': '纺织制造', 'stock_count': 35},
+                    {'id': 1202, 'name': '服装家纺', 'stock_count': 32}
+                ]
+            },
+            {
+                'id': 13,
+                'name': '轻工制造',
+                'code': '801130',
+                'description': '造纸、包装印刷、家用轻工',
+                'stock_count': 89,
+                'avg_change': 0.9,
+                'total_market_cap': 600000000000,
+                'sub_industries': [
+                    {'id': 1301, 'name': '造纸', 'stock_count': 25},
+                    {'id': 1302, 'name': '包装印刷', 'stock_count': 30},
+                    {'id': 1303, 'name': '家用轻工', 'stock_count': 34}
+                ]
+            },
+            {
+                'id': 14,
+                'name': '医药生物',
+                'code': '801140',
+                'description': '化学制药、中药、生物制品、医疗器械',
+                'stock_count': 234,
+                'avg_change': 1.9,
+                'total_market_cap': 2500000000000,
+                'sub_industries': [
+                    {'id': 1401, 'name': '化学制药', 'stock_count': 78},
+                    {'id': 1402, 'name': '中药', 'stock_count': 45},
+                    {'id': 1403, 'name': '生物制品', 'stock_count': 56},
+                    {'id': 1404, 'name': '医疗器械', 'stock_count': 55}
+                ]
+            },
+            {
+                'id': 15,
+                'name': '公用事业',
+                'code': '801150',
+                'description': '电力、燃气、水务',
+                'stock_count': 78,
+                'avg_change': 0.5,
+                'total_market_cap': 900000000000,
+                'sub_industries': [
+                    {'id': 1501, 'name': '电力', 'stock_count': 45},
+                    {'id': 1502, 'name': '燃气', 'stock_count': 18},
+                    {'id': 1503, 'name': '水务', 'stock_count': 15}
+                ]
+            },
+            {
+                'id': 16,
+                'name': '交通运输',
+                'code': '801160',
+                'description': '港口、公路、铁路、航空',
+                'stock_count': 67,
+                'avg_change': 0.8,
+                'total_market_cap': 800000000000,
+                'sub_industries': [
+                    {'id': 1601, 'name': '港口', 'stock_count': 15},
+                    {'id': 1602, 'name': '公路', 'stock_count': 20},
+                    {'id': 1603, 'name': '铁路', 'stock_count': 12},
+                    {'id': 1604, 'name': '航空', 'stock_count': 20}
+                ]
+            },
+            {
+                'id': 17,
+                'name': '房地产',
+                'code': '801170',
+                'description': '房地产开发、房地产服务',
+                'stock_count': 89,
+                'avg_change': 0.6,
+                'total_market_cap': 1200000000000,
+                'sub_industries': [
+                    {'id': 1701, 'name': '房地产开发', 'stock_count': 65},
+                    {'id': 1702, 'name': '房地产服务', 'stock_count': 24}
+                ]
+            },
+            {
+                'id': 18,
+                'name': '商业贸易',
+                'code': '801180',
+                'description': '贸易、零售',
+                'stock_count': 78,
+                'avg_change': 0.7,
+                'total_market_cap': 600000000000,
+                'sub_industries': [
+                    {'id': 1801, 'name': '贸易', 'stock_count': 35},
+                    {'id': 1802, 'name': '零售', 'stock_count': 43}
+                ]
+            },
+            {
+                'id': 19,
+                'name': '休闲服务',
+                'code': '801190',
+                'description': '景点、酒店、旅游综合',
+                'stock_count': 34,
+                'avg_change': 1.2,
+                'total_market_cap': 300000000000,
+                'sub_industries': [
+                    {'id': 1901, 'name': '景点', 'stock_count': 12},
+                    {'id': 1902, 'name': '酒店', 'stock_count': 15},
+                    {'id': 1903, 'name': '旅游综合', 'stock_count': 7}
+                ]
+            },
+            {
+                'id': 20,
+                'name': '银行',
+                'code': '801200',
+                'description': '银行',
+                'stock_count': 28,
+                'avg_change': 0.4,
+                'total_market_cap': 8000000000000,
+                'sub_industries': [
+                    {'id': 2001, 'name': '银行', 'stock_count': 28}
+                ]
+            },
+            {
+                'id': 21,
+                'name': '非银金融',
+                'code': '801210',
+                'description': '保险、证券、多元金融',
+                'stock_count': 45,
+                'avg_change': 0.8,
+                'total_market_cap': 2000000000000,
+                'sub_industries': [
+                    {'id': 2101, 'name': '保险', 'stock_count': 8},
+                    {'id': 2102, 'name': '证券', 'stock_count': 25},
+                    {'id': 2103, 'name': '多元金融', 'stock_count': 12}
+                ]
+            },
+            {
+                'id': 22,
+                'name': '综合',
+                'code': '801220',
+                'description': '综合',
+                'stock_count': 23,
+                'avg_change': 0.6,
+                'total_market_cap': 200000000000,
+                'sub_industries': [
+                    {'id': 2201, 'name': '综合', 'stock_count': 23}
+                ]
+            },
+            {
+                'id': 23,
+                'name': '计算机',
+                'code': '801230',
+                'description': '计算机设备、计算机应用',
+                'stock_count': 156,
+                'avg_change': 2.3,
+                'total_market_cap': 1800000000000,
+                'sub_industries': [
+                    {'id': 2301, 'name': '计算机设备', 'stock_count': 45},
+                    {'id': 2302, 'name': '计算机应用', 'stock_count': 111}
+                ]
+            },
+            {
+                'id': 24,
+                'name': '传媒',
+                'code': '801240',
+                'description': '文化传媒、营销传播',
+                'stock_count': 78,
+                'avg_change': 1.4,
+                'total_market_cap': 700000000000,
+                'sub_industries': [
+                    {'id': 2401, 'name': '文化传媒', 'stock_count': 45},
+                    {'id': 2402, 'name': '营销传播', 'stock_count': 33}
+                ]
+            },
+            {
+                'id': 25,
+                'name': '通信',
+                'code': '801250',
+                'description': '通信设备、通信运营',
+                'stock_count': 45,
+                'avg_change': 1.7,
+                'total_market_cap': 600000000000,
+                'sub_industries': [
+                    {'id': 2501, 'name': '通信设备', 'stock_count': 30},
+                    {'id': 2502, 'name': '通信运营', 'stock_count': 15}
+                ]
+            },
+            {
+                'id': 26,
+                'name': '电子',
+                'code': '801260',
+                'description': '半导体、电子制造、光学光电子',
+                'stock_count': 178,
+                'avg_change': 2.0,
+                'total_market_cap': 2000000000000,
+                'sub_industries': [
+                    {'id': 2601, 'name': '半导体', 'stock_count': 45},
+                    {'id': 2602, 'name': '电子制造', 'stock_count': 78},
+                    {'id': 2603, 'name': '光学光电子', 'stock_count': 55}
+                ]
+            },
+            {
+                'id': 27,
+                'name': '机械设备',
+                'code': '801270',
+                'description': '通用机械、专用设备、仪器仪表',
+                'stock_count': 234,
+                'avg_change': 1.1,
+                'total_market_cap': 1500000000000,
+                'sub_industries': [
+                    {'id': 2701, 'name': '通用机械', 'stock_count': 89},
+                    {'id': 2702, 'name': '专用设备', 'stock_count': 98},
+                    {'id': 2703, 'name': '仪器仪表', 'stock_count': 47}
+                ]
+            },
+            {
+                'id': 28,
+                'name': '食品饮料',
+                'code': '801280',
+                'description': '食品加工、饮料制造',
+                'stock_count': 67,
+                'avg_change': 1.3,
+                'total_market_cap': 1000000000000,
+                'sub_industries': [
+                    {'id': 2801, 'name': '食品加工', 'stock_count': 35},
+                    {'id': 2802, 'name': '饮料制造', 'stock_count': 32}
+                ]
+            }
+        ]
+
+        return jsonify({
+            'success': True,
+            'data': levels
+        })
+
+    except Exception as e:
+        print(f"Error getting industry levels: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/info', methods=['GET'])
+def get_industry_info():
+    """获取行业信息"""
+    try:
+        industry_id = request.args.get('industry_id')
+        
+        if not industry_id:
+            return jsonify({'success': False, 'error': '请提供行业ID'}), 400
+
+        # 模拟行业信息
+        industry_info = {
+            'id': industry_id,
+            'name': f'行业{industry_id}',
+            'code': f'801{industry_id.zfill(3)}',
+            'description': f'这是行业{industry_id}的详细描述',
+            'stock_count': 50,
+            'avg_change': 1.5,
+            'total_market_cap': 800000000000,
+            'pe_ratio': 15.6,
+            'pb_ratio': 2.3,
+            'roe': 8.5,
+            'top_stocks': [
+                {'code': '000001', 'name': '龙头股A', 'weight': 0.15},
+                {'code': '000002', 'name': '龙头股B', 'weight': 0.12},
+                {'code': '000003', 'name': '龙头股C', 'weight': 0.10}
+            ],
+            'sub_industries': [
+                {'id': 1, 'name': '子行业A', 'stock_count': 20},
+                {'id': 2, 'name': '子行业B', 'stock_count': 18},
+                {'id': 3, 'name': '子行业C', 'stock_count': 12}
+            ],
+            'performance': {
+                'daily': 1.5,
+                'weekly': 3.2,
+                'monthly': 8.5,
+                'quarterly': 12.3,
+                'yearly': 25.6
+            },
+            'trend': {
+                'direction': 'up',
+                'strength': 'medium',
+                'duration': '3 months'
+            }
+        }
+
+        return jsonify({
+            'success': True,
+            'data': industry_info
+        })
+
+    except Exception as e:
+        print(f"Error getting industry info: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500 

app/routes/limitanalyse.py

@@ -0,0 +1,469 @@
+from flask import Blueprint, request, jsonify
+import pandas as pd
+import json
+from datetime import datetime
+
+bp = Blueprint('limitanalyse', __name__, url_prefix='/api/limit-analyse')
+
+@bp.route('/available-dates', methods=['GET'])
+def get_available_dates():
+    """获取可用日期列表"""
+    try:
+        # 模拟可用日期
+        dates = [
+            '2025-07-16',
+            '2025-07-15',
+            '2025-07-14',
+            '2025-07-11',
+            '2025-07-10'
+        ]
+        
+        return jsonify({
+            'success': True,
+            'data': dates
+        })
+    except Exception as e:
+        print(f"Error getting available dates: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+def load_stock_data(datestr):
+    """加载股票数据"""
+    try:
+        # 模拟股票数据
+        data = []
+        for i in range(100):
+            data.append({
+                'code': f'00000{i:03d}',
+                'name': f'股票{i}',
+                'price': 10.0 + i * 0.1,
+                'change': (i % 10 - 5) * 0.5,
+                'sector': f'板块{i % 5}',
+                'limit_type': '涨停' if i % 10 == 0 else '正常',
+                'volume': 1000000 + i * 50000,
+                'amount': 10000000 + i * 500000
+            })
+        
+        return pd.DataFrame(data)
+    except Exception as e:
+        print(f"Error loading stock data: {e}")
+        return pd.DataFrame()
+
+@bp.route('/data', methods=['GET'])
+def get_analysis_data():
+    """获取分析数据"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 加载数据
+        df = load_stock_data(date)
+        if df.empty:
+            return jsonify({'success': False, 'error': '数据加载失败'}), 500
+
+        # 统计信息
+        total_stocks = len(df)
+        limit_up_stocks = len(df[df['limit_type'] == '涨停'])
+        limit_down_stocks = len(df[df['limit_type'] == '跌停'])
+        
+        # 板块统计
+        sector_stats = df.groupby('sector').agg({
+            'code': 'count',
+            'change': 'mean',
+            'volume': 'sum'
+        }).reset_index()
+        
+        sector_data = []
+        for _, row in sector_stats.iterrows():
+            sector_data.append({
+                'sector': row['sector'],
+                'stock_count': int(row['code']),
+                'avg_change': round(row['change'], 2),
+                'total_volume': int(row['volume'])
+            })
+
+        return jsonify({
+            'success': True,
+            'data': {
+                'date': date,
+                'total_stocks': total_stocks,
+                'limit_up_stocks': limit_up_stocks,
+                'limit_down_stocks': limit_down_stocks,
+                'sector_stats': sector_data
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting analysis data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/sector-data', methods=['GET'])
+def get_sector_data():
+    """获取板块数据"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 加载数据
+        df = load_stock_data(date)
+        if df.empty:
+            return jsonify({'success': False, 'error': '数据加载失败'}), 500
+
+        # 板块统计
+        sector_stats = df.groupby('sector').agg({
+            'code': 'count',
+            'change': 'mean',
+            'volume': 'sum',
+            'amount': 'sum'
+        }).reset_index()
+        
+        sector_data = []
+        for _, row in sector_stats.iterrows():
+            sector_data.append({
+                'sector': row['sector'],
+                'stock_count': int(row['code']),
+                'avg_change': round(row['change'], 2),
+                'total_volume': int(row['volume']),
+                'total_amount': int(row['amount'])
+            })
+
+        return jsonify({
+            'success': True,
+            'data': sector_data
+        })
+
+    except Exception as e:
+        print(f"Error getting sector data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/word-cloud', methods=['GET'])
+def get_word_cloud_data():
+    """获取词云数据"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 模拟词云数据
+        word_data = [
+            {'word': '科技', 'value': 100},
+            {'word': '新能源', 'value': 85},
+            {'word': '医药', 'value': 70},
+            {'word': '消费', 'value': 65},
+            {'word': '金融', 'value': 50},
+            {'word': '地产', 'value': 45},
+            {'word': '制造', 'value': 40},
+            {'word': '农业', 'value': 35},
+            {'word': '传媒', 'value': 30},
+            {'word': '环保', 'value': 25}
+        ]
+
+        return jsonify({
+            'success': True,
+            'data': word_data
+        })
+
+    except Exception as e:
+        print(f"Error getting word cloud data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/chart-data', methods=['GET'])
+def get_chart_data():
+    """获取图表数据"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 模拟图表数据
+        chart_data = {
+            'limit_up_distribution': [
+                {'sector': '科技', 'count': 15},
+                {'sector': '新能源', 'count': 12},
+                {'sector': '医药', 'count': 10},
+                {'sector': '消费', 'count': 8},
+                {'sector': '金融', 'count': 6}
+            ],
+            'sector_performance': [
+                {'sector': '科技', 'change': 2.5},
+                {'sector': '新能源', 'change': 1.8},
+                {'sector': '医药', 'change': 1.2},
+                {'sector': '消费', 'change': 0.8},
+                {'sector': '金融', 'change': 0.5}
+            ]
+        }
+
+        return jsonify({
+            'success': True,
+            'data': chart_data
+        })
+
+    except Exception as e:
+        print(f"Error getting chart data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/stock-details', methods=['GET'])
+def get_stock_details():
+    """获取股票详情"""
+    try:
+        code = request.args.get('code')
+        date = request.args.get('date', '2025-07-16')
+        
+        if not code:
+            return jsonify({'success': False, 'error': '请提供股票代码'}), 400
+
+        # 模拟股票详情
+        stock_detail = {
+            'code': code,
+            'name': f'股票{code}',
+            'price': 15.50,
+            'change': 2.5,
+            'sector': '科技',
+            'volume': 1500000,
+            'amount': 23250000,
+            'limit_type': '涨停',
+            'turnover_rate': 3.2,
+            'market_cap': 15500000000
+        }
+
+        return jsonify({
+            'success': True,
+            'data': stock_detail
+        })
+
+    except Exception as e:
+        print(f"Error getting stock details: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/sector-analysis', methods=['GET'])
+def get_sector_analysis():
+    """获取板块分析"""
+    try:
+        sector = request.args.get('sector')
+        date = request.args.get('date', '2025-07-16')
+        
+        if not sector:
+            return jsonify({'success': False, 'error': '请提供板块名称'}), 400
+
+        # 模拟板块分析数据
+        sector_analysis = {
+            'sector': sector,
+            'stock_count': 25,
+            'avg_change': 1.8,
+            'limit_up_count': 8,
+            'limit_down_count': 2,
+            'total_volume': 50000000,
+            'total_amount': 750000000,
+            'top_stocks': [
+                {'code': '000001', 'name': '股票A', 'change': 10.0},
+                {'code': '000002', 'name': '股票B', 'change': 9.5},
+                {'code': '000003', 'name': '股票C', 'change': 8.8}
+            ]
+        }
+
+        return jsonify({
+            'success': True,
+            'data': sector_analysis
+        })
+
+    except Exception as e:
+        print(f"Error getting sector analysis: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/trend-analysis', methods=['GET'])
+def get_trend_analysis():
+    """获取趋势分析"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 模拟趋势分析数据
+        trend_data = {
+            'limit_up_trend': [
+                {'date': '2025-07-10', 'count': 45},
+                {'date': '2025-07-11', 'count': 52},
+                {'date': '2025-07-14', 'count': 48},
+                {'date': '2025-07-15', 'count': 55},
+                {'date': '2025-07-16', 'count': 51}
+            ],
+            'sector_trend': [
+                {'sector': '科技', 'trend': 'up'},
+                {'sector': '新能源', 'trend': 'up'},
+                {'sector': '医药', 'trend': 'stable'},
+                {'sector': '消费', 'trend': 'down'},
+                {'sector': '金融', 'trend': 'stable'}
+            ]
+        }
+
+        return jsonify({
+            'success': True,
+            'data': trend_data
+        })
+
+    except Exception as e:
+        print(f"Error getting trend analysis: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/heat-map', methods=['GET'])
+def get_heat_map_data():
+    """获取热力图数据"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 模拟热力图数据
+        heat_map_data = []
+        sectors = ['科技', '新能源', '医药', '消费', '金融', '地产', '制造', '农业']
+        
+        for i, sector in enumerate(sectors):
+            for j in range(8):
+                heat_map_data.append({
+                    'sector': sector,
+                    'metric': f'指标{j+1}',
+                    'value': (i + j) % 10 + 1
+                })
+
+        return jsonify({
+            'success': True,
+            'data': heat_map_data
+        })
+
+    except Exception as e:
+        print(f"Error getting heat map data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/correlation-analysis', methods=['GET'])
+def get_correlation_analysis():
+    """获取相关性分析"""
+    try:
+        date = request.args.get('date', '2025-07-16')
+        
+        # 模拟相关性分析数据
+        correlation_data = {
+            'sector_correlations': [
+                {'sector1': '科技', 'sector2': '新能源', 'correlation': 0.85},
+                {'sector1': '医药', 'sector2': '消费', 'correlation': 0.72},
+                {'sector1': '金融', 'sector2': '地产', 'correlation': 0.68},
+                {'sector1': '科技', 'sector2': '医药', 'correlation': 0.45},
+                {'sector1': '新能源', 'sector2': '制造', 'correlation': 0.78}
+            ],
+            'stock_correlations': [
+                {'stock1': '000001', 'stock2': '000002', 'correlation': 0.92},
+                {'stock1': '000003', 'stock2': '000004', 'correlation': 0.88},
+                {'stock1': '000005', 'stock2': '000006', 'correlation': 0.76}
+            ]
+        }
+
+        return jsonify({
+            'success': True,
+            'data': correlation_data
+        })
+
+    except Exception as e:
+        print(f"Error getting correlation analysis: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/export-data', methods=['POST'])
+def export_data():
+    """导出数据"""
+    try:
+        data = request.get_json()
+        date = data.get('date', '2025-07-16')
+        export_type = data.get('type', 'excel')
+        
+        # 模拟导出
+        filename = f'limit_analyse_{date}.{export_type}'
+        
+        return jsonify({
+            'success': True,
+            'message': '数据导出成功',
+            'data': {
+                'filename': filename,
+                'download_url': f'/downloads/{filename}'
+            }
+        })
+
+    except Exception as e:
+        print(f"Error exporting data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500 
+
+@bp.route('/high-position-stocks', methods=['GET'])
+def get_high_position_stocks():
+    """获取高位股统计数据"""
+    try:
+        date = request.args.get('date', datetime.now().strftime('%Y%m%d'))
+        
+        # 模拟高位股数据 - 实际使用时需要连接真实的数据库
+        # 根据用户提供的表结构，查询连续涨停天数较多的股票
+        high_position_stocks = [
+            {
+                'stock_code': '000001',
+                'stock_name': '平安银行',
+                'price': 15.68,
+                'increase_rate': 10.02,
+                'limit_up_days': 5,
+                'continuous_limit_up': 3,
+                'industry': '银行',
+                'turnover_rate': 3.45,
+                'market_cap': 32000000000
+            },
+            {
+                'stock_code': '000002',
+                'stock_name': '万科A',
+                'price': 18.92,
+                'increase_rate': 9.98,
+                'limit_up_days': 4,
+                'continuous_limit_up': 2,
+                'industry': '房地产',
+                'turnover_rate': 5.67,
+                'market_cap': 21000000000
+            },
+            {
+                'stock_code': '600036',
+                'stock_name': '招商银行',
+                'price': 42.15,
+                'increase_rate': 8.45,
+                'limit_up_days': 6,
+                'continuous_limit_up': 4,
+                'industry': '银行',
+                'turnover_rate': 2.89,
+                'market_cap': 105000000000
+            },
+            {
+                'stock_code': '000858',
+                'stock_name': '五粮液',
+                'price': 168.50,
+                'increase_rate': 7.23,
+                'limit_up_days': 3,
+                'continuous_limit_up': 2,
+                'industry': '白酒',
+                'turnover_rate': 1.56,
+                'market_cap': 650000000000
+            },
+            {
+                'stock_code': '002415',
+                'stock_name': '海康威视',
+                'price': 35.68,
+                'increase_rate': 6.89,
+                'limit_up_days': 4,
+                'continuous_limit_up': 3,
+                'industry': '安防',
+                'turnover_rate': 4.12,
+                'market_cap': 33000000000
+            }
+        ]
+        
+        # 统计信息
+        total_count = len(high_position_stocks)
+        avg_continuous_days = sum(stock['continuous_limit_up'] for stock in high_position_stocks) / total_count if total_count > 0 else 0
+        
+        # 按连续涨停天数排序
+        high_position_stocks.sort(key=lambda x: x['continuous_limit_up'], reverse=True)
+
+        return jsonify({
+            'success': True,
+            'data': {
+                'stocks': high_position_stocks,
+                'statistics': {
+                    'total_count': total_count,
+                    'avg_continuous_days': round(avg_continuous_days, 2),
+                    'max_continuous_days': max([stock['continuous_limit_up'] for stock in high_position_stocks], default=0),
+                    'industry_distribution': {}
+                }
+            }
+        })
+
+    except Exception as e:
+        print(f"Error getting high position stocks: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500 

app/routes/stocks.py

@@ -0,0 +1,241 @@
+from flask import Blueprint, request, jsonify
+from app import db
+from clickhouse_driver import Client
+import pandas as pd
+from datetime import datetime, timedelta
+import pytz
+
+bp = Blueprint('stocks', __name__, url_prefix='/api/stock')
+
+def get_clickhouse_client():
+    """获取ClickHouse客户端"""
+    return Client('localhost', port=9000, user='default', password='', database='default')
+
+@bp.route('/quotes', methods=['GET', 'POST'])
+def get_stock_quotes():
+    """获取股票实时报价"""
+    try:
+        if request.method == 'GET':
+            # GET 请求从 URL 参数获取数据
+            codes = request.args.get('codes', '').split(',')
+            event_time_str = request.args.get('event_time')
+        else:
+            # POST 请求从 JSON 获取数据
+            codes = request.json.get('codes', [])
+            event_time_str = request.json.get('event_time')
+
+        if not codes:
+            return jsonify({'success': False, 'error': '请提供股票代码'}), 400
+
+        # 过滤空字符串
+        codes = [code.strip() for code in codes if code.strip()]
+
+        if not codes:
+            return jsonify({'success': False, 'error': '请提供有效的股票代码'}), 400
+
+        # 解析事件时间
+        event_time = None
+        if event_time_str:
+            try:
+                event_time = datetime.fromisoformat(event_time_str.replace('Z', '+00:00'))
+            except ValueError:
+                return jsonify({'success': False, 'error': '事件时间格式错误'}), 400
+
+        # 获取当前时间
+        now = datetime.now(pytz.timezone('Asia/Shanghai'))
+        
+        # 如果提供了事件时间，使用事件时间；否则使用当前时间
+        target_time = event_time if event_time else now
+
+        # 获取交易日和交易时间
+        def get_trading_day_and_times(event_datetime):
+            """获取交易日和交易时间列表"""
+            # 这里简化处理，实际应该查询交易日历
+            trading_day = event_datetime.strftime('%Y-%m-%d')
+            
+            # 生成交易时间列表 (9:30-11:30, 13:00-15:00)
+            morning_times = [f"{trading_day} {hour:02d}:{minute:02d}" 
+                           for hour in range(9, 12) 
+                           for minute in range(0, 60, 1)
+                           if not (hour == 9 and minute < 30) and not (hour == 11 and minute > 30)]
+            
+            afternoon_times = [f"{trading_day} {hour:02d}:{minute:02d}" 
+                             for hour in range(13, 16) 
+                             for minute in range(0, 60, 1)]
+            
+            return trading_day, morning_times + afternoon_times
+
+        trading_day, trading_times = get_trading_day_and_times(target_time)
+
+        # 模拟股票数据
+        results = {}
+        for code in codes:
+            # 这里应该从ClickHouse或其他数据源获取真实数据
+            # 现在使用模拟数据
+            import random
+            base_price = 10.0 + random.random() * 20.0
+            change = (random.random() - 0.5) * 2.0
+            
+            results[code] = {
+                'price': round(base_price, 2),
+                'change': round(change, 2),
+                'name': f'股票{code}'
+            }
+
+        return jsonify({
+            'success': True,
+            'data': results
+        })
+
+    except Exception as e:
+        print(f"Error getting stock quotes: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+@bp.route('/<stock_code>/kline')
+def get_stock_kline(stock_code):
+    """获取股票K线数据"""
+    try:
+        chart_type = request.args.get('type', 'daily')
+        event_time_str = request.args.get('event_time')
+        
+        if not event_time_str:
+            return jsonify({'success': False, 'error': '请提供事件时间'}), 400
+
+        try:
+            event_datetime = datetime.fromisoformat(event_time_str.replace('Z', '+00:00'))
+        except ValueError:
+            return jsonify({'success': False, 'error': '事件时间格式错误'}), 400
+
+        # 获取股票名称（这里简化处理）
+        stock_name = f'股票{stock_code}'
+
+        if chart_type == 'daily':
+            return get_daily_kline(stock_code, event_datetime, stock_name)
+        elif chart_type == 'minute':
+            return get_minute_kline(stock_code, event_datetime, stock_name)
+        elif chart_type == 'timeline':
+            return get_timeline_data(stock_code, event_datetime, stock_name)
+        else:
+            return jsonify({'error': f'Unsupported chart type: {chart_type}'}), 400
+
+    except Exception as e:
+        print(f"Error getting stock kline: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+def get_daily_kline(stock_code, event_datetime, stock_name):
+    """获取日K线数据"""
+    try:
+        # 模拟日K线数据
+        data = []
+        base_price = 10.0
+        for i in range(30):
+            date = (event_datetime - timedelta(days=30-i)).strftime('%Y-%m-%d')
+            open_price = base_price + (i * 0.1) + (i % 3 - 1) * 0.5
+            close_price = open_price + (i % 5 - 2) * 0.3
+            high_price = max(open_price, close_price) + 0.2
+            low_price = min(open_price, close_price) - 0.2
+            volume = 1000000 + i * 50000
+            
+            data.append({
+                'date': date,
+                'open': round(open_price, 2),
+                'close': round(close_price, 2),
+                'high': round(high_price, 2),
+                'low': round(low_price, 2),
+                'volume': volume
+            })
+
+        return jsonify({
+            'code': stock_code,
+            'name': stock_name,
+            'trade_date': event_datetime.strftime('%Y-%m-%d'),
+            'data': data
+        })
+
+    except Exception as e:
+        print(f"Error getting daily kline: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+def get_minute_kline(stock_code, event_datetime, stock_name):
+    """获取分钟K线数据"""
+    try:
+        # 模拟分钟K线数据
+        data = []
+        base_price = 10.0
+        trading_times = []
+        
+        # 生成交易时间
+        for hour in range(9, 16):
+            if hour == 12:
+                continue
+            for minute in range(0, 60):
+                if (hour == 9 and minute < 30) or (hour == 11 and minute > 30):
+                    continue
+                trading_times.append(f"{hour:02d}:{minute:02d}")
+
+        for i, time in enumerate(trading_times):
+            open_price = base_price + (i * 0.01) + (i % 10 - 5) * 0.02
+            close_price = open_price + (i % 7 - 3) * 0.01
+            high_price = max(open_price, close_price) + 0.01
+            low_price = min(open_price, close_price) - 0.01
+            volume = 50000 + i * 1000
+            
+            data.append({
+                'time': time,
+                'open': round(open_price, 2),
+                'close': round(close_price, 2),
+                'high': round(high_price, 2),
+                'low': round(low_price, 2),
+                'volume': volume
+            })
+
+        return jsonify({
+            'code': stock_code,
+            'name': stock_name,
+            'trade_date': event_datetime.strftime('%Y-%m-%d'),
+            'data': data
+        })
+
+    except Exception as e:
+        print(f"Error getting minute kline: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500
+
+def get_timeline_data(stock_code, event_datetime, stock_name):
+    """获取分时图数据"""
+    try:
+        # 模拟分时图数据
+        data = []
+        base_price = 10.0
+        trading_times = []
+        
+        # 生成交易时间
+        for hour in range(9, 16):
+            if hour == 12:
+                continue
+            for minute in range(0, 60):
+                if (hour == 9 and minute < 30) or (hour == 11 and minute > 30):
+                    continue
+                trading_times.append(f"{hour:02d}:{minute:02d}")
+
+        for i, time in enumerate(trading_times):
+            price = base_price + (i * 0.01) + (i % 10 - 5) * 0.02
+            avg_price = price + (i % 5 - 2) * 0.01
+            volume = 50000 + i * 1000
+            
+            data.append({
+                'time': time,
+                'price': round(price, 2),
+                'avg_price': round(avg_price, 2),
+                'volume': volume
+            })
+
+        return jsonify({
+            'code': stock_code,
+            'name': stock_name,
+            'trade_date': event_datetime.strftime('%Y-%m-%d'),
+            'data': data
+        })
+
+    except Exception as e:
+        print(f"Error getting timeline data: {e}")
+        return jsonify({'success': False, 'error': str(e)}), 500 

certs/apiclient_cert.pem

@@ -0,0 +1,25 @@
+-----BEGIN CERTIFICATE-----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+-----END CERTIFICATE-----

certs/apiclient_key.pem

@@ -0,0 +1,28 @@
+-----BEGIN PRIVATE KEY-----
+MIIEvAIBADANBgkqhkiG9w0BAQEFAASCBKYwggSiAgEAAoIBAQCbKKiiVzSzE8YQ
+gl5JNocVnaSwFgdkVnPE+rY54+tAoeQB0EQZCEPtVHCUXOCA1RfUTyvwHszRTcvu
+x2rXmyYNMBWgDWVua1GJHw4Q9PW/wfj3ErC4bxhT8O7glBaQ4vtjSTTXwCgiKJZu
+zgh2OGB0E64ShGqUh+e50bjoxQiLBnlvLQOxyUndIIBKdnzzDMvi7cX9SCPhWcRV
+L83OrlDuE5eNedBlYPIlW+DgO0ED1tLM1aWMkYcB82gk/xdt1HakwQwzbWFLRZvT
+s6YwGbEqbWj+qzNXTZ7rRaqM7VyHn2pOJqdloBtShpJ/cWs46K1hxMWzXV2op3L/
+tz6DCzhFAgMBAAECggEADr9Fj/CD9MVbXPRXK9Q/8KEEJyxg1XuWE1HVAhmUoZcB
+id6Wql5rvmH5NVDCkdwvIKHJxk/XHcmsKWzQzd9UNYqtc4HycxVGMac++gOeW/R+
+ylT/cPg2MrxCqBvLLUg1ppEtsZf0+JItAikZCst+92lrcR0e2DE2qCWz0oPvtO7p
+tshtFjmvuI7DfuMsG9kPR5kTh+Xecwi0dZ6x4MHe5+/AbmZMqjieXq2DLjRunHHP
+pe+99cgKb3W5W+XEK9wa3xxpHcQko+5TYdwp1XpTcE41jqocSosB76iAXbnhUd+F
+JeP8+OWMBqXI3htIHQocVVs60lDghF+aXm9BQoDzQQKBgQDI0RekNYmq9IETCPJL
+0CUvD9Qbky64hRat7pMQLzAJA2KlM+DQQcoxJ/baEe9GRldZymYaU+dJQUL5VsoT
+lrNLXzhQTLQsBA59BDtzKUaGLojeVcW7fnGnCM6wp7OeXw51Rzk0Zihie2iQ7XFo
+KJpY/d0GvGMkOpi6kH6IYRo+NQKBgQDFy6fPkvwuVLtfDOIkb6tGfdki6kSO34Xk
+iRZUWivPlugAxOp0TUqyt3NVpMM2a3LkktafQXXAA1f/R+S03X0IyAzQXGBrZr0r
+YPm2RIGsf8p9uBNA1Ly2zIqeuwH4hyO3sRvv0UsNNOkshbShCBO/4je3LL8CRBdn
+GYwnNA6T0QKBgGADSJBkYIvyFvxo3J/Oxth3cuw0NLRYPX2vgXTNeuP0UGe4JBau
+PeO+vdGJnaM14nG1yZdw4jYuE71u93LiLJsuzZfm9IXO8rZnHZ1z8JobCalzzPRW
+AjTgiyH/LGvd+uWrxff9l/VuF5KjVAN+1j0SM2kTDTu3IGqixzyhYJC5AoGANcnC
+IsKX7YmBQsHgJYRwkUTb7ZDDgA7s/E8DUYEL9PHWuY7TKzlxnNQieyHJLF1f6yS7
+VKeae9Ls9TD50u2AeQjd4zObzNktjERc4+IRWXWO/U03fyPbBeLtt2inioxFfEif
+jkHeJQNEfaUGj9wAcufzus5iSx11N8ZMxMR1SmECgYB3Z+8MY45PYhP457tW66/s
+KIGG+yKI+tXYZmg3nYmEgjF4pO/dntZ4RpcxxxQsK2tNwYUfy9Nmn+iOmLbmxyWk
+wcGjgS+wLz83EQK+gADuRU38TeODqZ09B7sYXJdA8Jva6vOvcAvOEqHkxe8yRXJa
+gMhdtmbNsH3fbViBf72Plg==
+-----END PRIVATE KEY-----

final_trading_simulation_fixes.md

@@ -0,0 +1,146 @@
+# 模拟盘最终修复总结
+
+## 🎯 修复的问题
+
+### 1. ✅ 编译错误修复
+**问题**：`Card` 组件重复导入
+**解决**：
+- 移除了自定义 Card 组件的重复导入
+- 统一使用 Chakra UI 的 Card 组件
+- 保留必要的图表组件导入
+
+### 2. ✅ 版面布局重新设计
+**改进**：
+- **主要功能放在上面**：交易面板、持仓、历史、融资融券
+- **统计数据放在下面**：账户概览、资产走势等分析图表
+- **现代化标签页**：使用 emoji 图标和圆角设计
+
+### 3. ✅ 真实数据替换Mock数据
+**改进**：
+- **资产走势图**：使用真实的 `getAssetHistory` 数据
+- **空数据处理**：当没有历史数据时显示友好提示
+- **动态显示**：只在有数据时显示图表
+
+### 4. ✅ 价格显示修复
+**问题**：搜索股票时价格显示为 0.00
+**解决**：
+- **后端修复**：`search_stocks` 接口现在返回 `current_price`
+- **前端修复**：正确使用 `stock.current_price` 而不是硬编码0
+- **价格获取优化**：扩大查询范围，多重备选方案
+
+## 🚀 新的页面结构
+
+### 上半部分：主要功能
+```
+┌─────────────────────────────────────────┐
+│ 💹 交易面板 | 📊 我的持仓 | 📋 交易历史 | 💰 融资融券 │
+├─────────────────────────────────────────┤
+│                                         │
+│           主要交易功能区域                │
+│                                         │
+└─────────────────────────────────────────┘
+```
+
+### 下半部分：统计分析
+```
+┌─────────────────────────────────────────┐
+│            📊 账户统计分析                │
+│  ┌─────────────┐  ┌─────────────────┐   │
+│  │   资产卡片   │  │   资产配置图     │   │
+│  └─────────────┘  └─────────────────┘   │
+└─────────────────────────────────────────┘
+┌─────────────────────────────────────────┐
+│            📈 资产走势分析                │
+│         （有数据时显示图表）              │
+│       （无数据时显示友好提示）            │
+└─────────────────────────────────────────┘
+```
+
+## 🔧 关键代码修改
+
+### 1. 价格数据修复
+**后端** (`app_2.py`):
+```python
+# search_stocks 接口现在返回价格
+stocks.append({
+    'stock_code': row.stock_code,
+    'stock_name': row.stock_name,
+    'current_price': current_price or 0,  # 添加真实价格
+    # ... 其他字段
+})
+```
+
+**前端** (`TradingPanel.js`):
+```javascript
+// 使用真实价格而不是0
+price: stock.current_price || 0, // 使用后端返回的真实价格
+```
+
+### 2. 真实数据处理
+**主页面** (`index.js`):
+```javascript
+// 获取真实资产历史
+const [assetHistory, setAssetHistory] = useState([]);
+const { getAssetHistory } = useTradingAccount();
+
+useEffect(() => {
+  if (account) {
+    getAssetHistory(30).then(data => {
+      setAssetHistory(data || []);
+    });
+  }
+}, [account, getAssetHistory]);
+
+// 只在有数据时显示图表
+{hasAssetData && (
+  <LineChart chartData={assetTrendData} chartOptions={assetTrendOptions} />
+)}
+
+// 无数据时显示友好提示
+{!hasAssetData && account && (
+  <VStack spacing={4} py={8}>
+    <Text fontSize="lg" color="gray.500">📊 暂无历史数据</Text>
+    <Text fontSize="sm" color="gray.400">
+      开始交易后，这里将显示您的资产走势图表和详细统计分析
+    </Text>
+  </VStack>
+)}
+```
+
+### 3. 现代化标签页设计
+```javascript
+<TabList bg={useColorModeValue('white', 'gray.800')} p={2} borderRadius="xl" shadow="sm">
+  <Tab fontWeight="bold">💹 交易面板</Tab>
+  <Tab fontWeight="bold">📊 我的持仓</Tab>
+  <Tab fontWeight="bold">📋 交易历史</Tab>
+  <Tab fontWeight="bold">💰 融资融券</Tab>
+</TabList>
+```
+
+## 🎯 预期效果
+
+### 搜索股票
+- ✅ 显示真实价格（如：寒武纪 ¥1394.94）
+- ✅ 价格不再显示 0.00
+- ✅ 搜索结果包含完整的股票信息
+
+### 页面布局
+- ✅ 主要功能优先显示（交易、持仓等）
+- ✅ 统计分析放在下方（不干扰主要操作）
+- ✅ 现代化的标签页设计
+
+### 数据显示
+- ✅ 使用真实的后端数据
+- ✅ 优雅处理空数据情况
+- ✅ 动态显示图表和提示
+
+## 🚀 现在可以：
+
+1. **重新编译**：`npm run build` 应该成功
+2. **重启服务**：让后端价格获取修改生效
+3. **测试功能**：
+   - 搜索股票应该显示真实价格
+   - 页面布局更加合理
+   - 空数据时有友好提示
+
+所有问题都已修复，现在模拟盘应该可以正常显示价格数据了！🎉

gulpfile.js

@@ -0,0 +1,76 @@
+const gulp = require("gulp");
+const gap = require("gulp-append-prepend");
+
+gulp.task("licenses", async function () {
+  // this is to add Creative Tim licenses in the production mode for the minified js
+  gulp
+    .src("build/static/js/*chunk.js", { base: "./" })
+    .pipe(
+      gap.prependText(`/*!
+
+      =========================================================
+      * Argon Dashboard Chakra PRO - v1.0.0
+      =========================================================
+
+      * Product Page: https://www.creative-tim.com/product/argon-dashboard-chakra-pro
+      * Copyright 2022 Creative Tim (https://www.creative-tim.com/)
+
+      * Designed and Coded by Simmmple & Creative Tim
+
+      =========================================================
+
+      * The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
+      
+      */`)
+    )
+    .pipe(gulp.dest("./", { overwrite: true }));
+
+  // this is to add Creative Tim licenses in the production mode for the minified html
+  gulp
+    .src("build/index.html", { base: "./" })
+    .pipe(
+      gap.prependText(`<!--
+      /*!
+      
+      =========================================================
+      * Argon Dashboard Chakra PRO - v1.0.0
+      =========================================================
+
+      * Product Page: https://www.creative-tim.com/product/argon-dashboard-chakra-pro
+      * Copyright 2022 Creative Tim (https://www.creative-tim.com/)
+
+      * Designed and Coded by Simmmple & Creative Tim
+
+      =========================================================
+
+      * The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
+      
+      */
+      -->`)
+    )
+    .pipe(gulp.dest("./", { overwrite: true }));
+
+  // this is to add Creative Tim licenses in the production mode for the minified css
+  gulp
+    .src("build/static/css/*chunk.css", { base: "./" })
+    .pipe(
+      gap.prependText(`/*!
+
+      =========================================================
+      * Argon Dashboard Chakra PRO - v1.0.0
+      =========================================================
+
+      * Product Page: https://www.creative-tim.com/product/argon-dashboard-chakra-pro
+      * Copyright 2022 Creative Tim (https://www.creative-tim.com/)
+
+      * Designed and Coded by Simmmple & Creative Tim
+
+      =========================================================
+
+      * The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.
+      
+      */`)
+    )
+    .pipe(gulp.dest("./", { overwrite: true }));
+  return;
+});

jsconfig.json

@@ -0,0 +1,8 @@
+{
+  "compilerOptions": {
+    "baseUrl": "src",
+    "paths": {
+      "*": ["src/*"]
+    }
+  }
+}

package.json

@@ -0,0 +1,122 @@
+{
+  "name": "argon-dashboard-chakra-pro",
+  "version": "2.0.0",
+  "private": true,
+  "homepage": "/",
+  "dependencies": {
+    "@ant-design/icons": "^6.0.0",
+    "@asseinfo/react-kanban": "^2.2.0",
+    "@chakra-ui/icons": "^2.1.1",
+    "@chakra-ui/react": "^2.8.2",
+    "@chakra-ui/theme-tools": "^1.3.6",
+    "@emotion/cache": "^11.4.0",
+    "@emotion/react": "^11.4.0",
+    "@emotion/styled": "^11.3.0",
+    "@fontsource/open-sans": "^4.5.0",
+    "@fontsource/raleway": "^4.5.0",
+    "@fontsource/roboto": "^4.5.0",
+    "@fullcalendar/daygrid": "^5.9.0",
+    "@fullcalendar/interaction": "^5.9.0",
+    "@fullcalendar/react": "^5.9.0",
+    "@react-three/drei": "^9.11.3",
+    "@react-three/fiber": "^8.0.27",
+    "@splidejs/react-splide": "^0.7.12",
+    "@tippyjs/react": "^4.2.6",
+    "@visx/visx": "^3.12.0",
+    "antd": "^5.27.4",
+    "apexcharts": "^3.27.3",
+    "axios": "^1.10.0",
+    "classnames": "^2.5.1",
+    "d3": "^7.9.0",
+    "date-fns": "^2.23.0",
+    "draft-js": "^0.11.7",
+    "echarts": "^5.6.0",
+    "echarts-for-react": "^3.0.2",
+    "echarts-wordcloud": "^2.1.0",
+    "framer-motion": "^4.1.17",
+    "fullcalendar": "^5.9.0",
+    "globalize": "^1.7.0",
+    "leaflet": "^1.9.4",
+    "lucide-react": "^0.540.0",
+    "match-sorter": "6.3.0",
+    "moment": "^2.29.1",
+    "nouislider": "15.0.0",
+    "react": "18.3.1",
+    "react-apexcharts": "^1.3.9",
+    "react-big-calendar": "^0.33.2",
+    "react-bootstrap-sweetalert": "5.2.0",
+    "react-circular-slider-svg": "^0.1.5",
+    "react-custom-scrollbars-2": "^4.4.0",
+    "react-datetime": "^3.0.4",
+    "react-dom": "^18.3.1",
+    "react-dropzone": "^11.4.2",
+    "react-github-btn": "^1.2.1",
+    "react-icons": "^4.12.0",
+    "react-input-pin-code": "^1.1.5",
+    "react-just-parallax": "^3.1.16",
+    "react-jvectormap": "0.0.16",
+    "react-leaflet": "^3.2.5",
+    "react-markdown": "^10.1.0",
+    "react-quill": "^2.0.0-beta.4",
+    "react-responsive": "^10.0.1",
+    "react-responsive-masonry": "^2.7.1",
+    "react-router-dom": "^6.4.0",
+    "react-scripts": "^5.0.1",
+    "react-scroll": "^1.8.4",
+    "react-scroll-into-view": "^2.1.3",
+    "react-swipeable-views": "0.13.9",
+    "react-table": "^7.7.0",
+    "react-tagsinput": "3.19.0",
+    "react-to-print": "^2.13.0",
+    "react-tsparticles": "^2.12.2",
+    "react-wordcloud": "^1.2.7",
+    "recharts": "^3.1.2",
+    "sass": "^1.49.9",
+    "scroll-lock": "^2.1.5",
+    "socket.io-client": "^4.7.4",
+    "styled-components": "^5.3.11",
+    "stylis": "^4.0.10",
+    "stylis-plugin-rtl": "^2.1.1",
+    "three": "^0.142.0",
+    "tsparticles-slim": "^2.12.0"
+  },
+  "resolutions": {
+    "react-error-overlay": "6.0.9",
+    "@types/react": "18.2.0",
+    "@types/react-dom": "18.2.0"
+  },
+  "scripts": {
+    "start": "react-scripts --openssl-legacy-provider start",
+    "build": "react-scripts build && gulp licenses",
+    "test": "react-scripts test --env=jsdom",
+    "eject": "react-scripts eject",
+    "deploy": "npm run build",
+    "lint:check": "eslint . --ext=js,jsx;  exit 0",
+    "lint:fix": "eslint . --ext=js,jsx --fix;  exit 0",
+    "install:clean": "rm -rf node_modules/ && rm -rf package-lock.json && npm install && npm start"
+  },
+  "devDependencies": {
+    "ajv": "^8.17.1",
+    "autoprefixer": "^10.4.21",
+    "eslint-config-prettier": "8.3.0",
+    "eslint-plugin-prettier": "3.4.0",
+    "gulp": "4.0.2",
+    "gulp-append-prepend": "1.0.9",
+    "postcss": "^8.5.6",
+    "prettier": "2.2.1",
+    "react-error-overlay": "6.0.9",
+    "tailwindcss": "^3.4.17"
+  },
+  "browserslist": {
+    "production": [
+      ">0.2%",
+      "not dead",
+      "not op_mini all"
+    ],
+    "development": [
+      ">0.2%",
+      "not dead",
+      "not op_mini all"
+    ]
+  }
+}

postcss.config.js

@@ -0,0 +1,6 @@
+module.exports = {
+  plugins: [
+    require('tailwindcss'),
+    require('autoprefixer'),
+  ],
+}

public/htmls/2025年换股合并潮.html

@@ -0,0 +1,908 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>2025年换股合并潮 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <!-- Daisy UI -->
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background-color: #667eea;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 0;
+      bottom: 0;
+      width: 1px;
+      background-color: #e2e8f0;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        overflow-x: scroll;
+      }
+    }
+    .vanta-bg {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+    .content-wrapper {
+      position: relative;
+      z-index: 1;
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="vanta-bg" class="vanta-bg"></div>
+  
+  <div class="content-wrapper">
+    <div class="container mx-auto px-4 py-8 max-w-6xl">
+      <!-- 标题部分 -->
+      <div class="text-center mb-12">
+        <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">2025年换股合并潮</h1>
+        <p class="text-xl text-gray-600 max-w-3xl mx-auto">中国资本市场新一轮换股吸收合并浪潮深度解析</p>
+        <div class="mt-6">
+          <span class="inline-block bg-indigo-100 text-indigo-800 text-sm font-medium px-4 py-2 rounded-full">行业洞察报告</span>
+          <span class="inline-block bg-purple-100 text-purple-800 text-sm font-medium px-4 py-2 rounded-full ml-2">2025年7月</span>
+        </div>
+      </div>
+
+      <!-- 概念事件 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-exchange-alt text-indigo-600 mr-3"></i>
+          概念事件
+        </h2>
+        <p class="text-gray-700 mb-6">
+          2024-2025年，中国资本市场出现一轮密集的<strong>换股吸收合并</strong>浪潮，涉及军工、券商、科技、消费等多个行业。
+        </p>
+        
+        <!-- 时间轴 -->
+        <div class="relative pl-8 mb-8">
+          <div class="timeline-line"></div>
+          
+          <div class="relative mb-6">
+            <div class="timeline-dot"></div>
+            <div class="ml-4">
+              <h3 class="font-semibold text-gray-800">2024年9月</h3>
+              <p class="text-gray-700">中国船舶拟换股吸收合并中国重工（换股比例1:0.1335），打造全球造船龙头。</p>
+            </div>
+          </div>
+          
+          <div class="relative mb-6">
+            <div class="timeline-dot"></div>
+            <div class="ml-4">
+              <h3 class="font-semibold text-gray-800">2024年10月</h3>
+              <p class="text-gray-700">国泰君安换股吸收合并海通证券（比例1:0.62），募资100亿元，成为券商"航母"。</p>
+            </div>
+          </div>
+          
+          <div class="relative mb-6">
+            <div class="timeline-dot"></div>
+            <div class="ml-4">
+              <h3 class="font-semibold text-gray-800">2025年1月</h3>
+              <p class="text-gray-700">奥瑞金完成收购中粮包装（金属包装行业整合）。</p>
+            </div>
+          </div>
+          
+          <div class="relative mb-6">
+            <div class="timeline-dot"></div>
+            <div class="ml-4">
+              <h3 class="font-semibold text-gray-800">2025年3月</h3>
+              <p class="text-gray-700">湘财股份换股合并大智慧（比例1:1.27），整合券商牌照与流量平台。</p>
+            </div>
+          </div>
+          
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="ml-4">
+              <h3 class="font-semibold text-gray-800">2025年6月</h3>
+              <p class="text-gray-700">海光信息换股吸收合并中科曙光（比例0.5525:1），强化算力芯片生态。</p>
+            </div>
+          </div>
+        </div>
+        
+        <!-- 时间轴表格 -->
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+            <thead>
+              <tr class="bg-gray-100">
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">时间</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">事件</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">行业</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">换股比例/溢价</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700">2024年9月</td>
+                <td class="py-3 px-4 text-gray-700">中国船舶→中国重工</td>
+                <td class="py-3 px-4 text-gray-700">军工/造船</td>
+                <td class="py-3 px-4 text-gray-700">1:0.1335（重工溢价1.4%）</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700">2024年10月</td>
+                <td class="py-3 px-4 text-gray-700">国泰君安→海通证券</td>
+                <td class="py-3 px-4 text-gray-700">券商</td>
+                <td class="py-3 px-4 text-gray-700">1:0.62（海通折价38%）</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700">2025年3月</td>
+                <td class="py-3 px-4 text-gray-700">湘财股份→大智慧</td>
+                <td class="py-3 px-4 text-gray-700">券商+金融科技</td>
+                <td class="py-3 px-4 text-gray-700">1:1.27（大智慧溢价30%）</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700">2025年6月</td>
+                <td class="py-3 px-4 text-gray-700">海光信息→中科曙光</td>
+                <td class="py-3 px-4 text-gray-700">算力芯片</td>
+                <td class="py-3 px-4 text-gray-700">0.5525:1（曙光溢价28%）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-gray-700">2025年1月</td>
+                <td class="py-3 px-4 text-gray-700">奥瑞金→中粮包装</td>
+                <td class="py-3 px-4 text-gray-700">包装</td>
+                <td class="py-3 px-4 text-gray-700">未披露（行业整合）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <!-- 核心观点摘要 -->
+      <div class="bg-gradient-to-r from-indigo-600 to-purple-600 rounded-xl card-shadow p-6 mb-8 text-white">
+        <h2 class="text-2xl font-bold mb-4 flex items-center">
+          <i class="fas fa-lightbulb mr-3"></i>
+          核心观点摘要
+        </h2>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-white bg-opacity-20 rounded-lg p-4">
+            <h3 class="font-bold text-lg mb-2">阶段判断</h3>
+            <p>2025年换股合并潮已从<strong>政策驱动</strong>进入<strong>市场化整合</strong>阶段，科技、消费、军工等行业龙头通过换股实现<strong>规模扩张+生态协同</strong>。</p>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-lg p-4">
+            <h3 class="font-bold text-lg mb-2">核心驱动力</h3>
+            <p>政策鼓励（"打造航母级企业"）、行业集中度提升需求（如券商CR5仅40%）、技术/渠道互补（如湘财+大智慧流量变现）。</p>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-lg p-4">
+            <h3 class="font-bold text-lg mb-2">未来潜力</h3>
+            <p>预计2025-2027年将延续，<strong>半导体、新能源、消费</strong>或成下一批整合热点。</p>
+          </div>
+        </div>
+      </div>
+
+      <!-- 核心逻辑与市场认知分析 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-brain text-indigo-600 mr-3"></i>
+          核心逻辑与市场认知分析
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">核心驱动力</h3>
+          
+          <div class="mb-4">
+            <h4 class="font-semibold text-gray-700 mb-2">1. 政策端</h4>
+            <ul class="list-disc pl-6 text-gray-700 space-y-1">
+              <li>国资委要求"央企专业化整合"，2024年《关于促进证券行业高质量发展意见》明确鼓励券商合并。</li>
+              <li><strong>数据</strong>：2024年船舶行业全球市占率中国达60%（合并后目标70%）。</li>
+            </ul>
+          </div>
+          
+          <div class="mb-4">
+            <h4 class="font-semibold text-gray-700 mb-2">2. 行业端</h4>
+            <ul class="list-disc pl-6 text-gray-700 space-y-1">
+              <li><strong>券商</strong>：行业佣金率下滑至<strong>万2.5</strong>，倒逼头部化（国泰君安+海通证券合并后客户数3500万，跃居第一）。</li>
+              <li><strong>科技</strong>：海光信息（GPU）合并中科曙光（服务器），形成"芯片+整机"闭环，对标英伟达+Dell模式。</li>
+            </ul>
+          </div>
+          
+          <div>
+            <h4 class="font-semibold text-gray-700 mb-2">3. 估值端</h4>
+            <p class="text-gray-700">被合并方普遍<strong>PB&lt;1</strong>（海通证券PB 0.7倍），换股溢价吸引中小股东。</p>
+          </div>
+        </div>
+        
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div>
+            <h3 class="text-xl font-semibold text-gray-800 mb-3">市场热度与情绪</h3>
+            <ul class="list-disc pl-6 text-gray-700 space-y-1">
+              <li><strong>新闻热度</strong>：2025年3-6月合并公告后，相关股票复牌<strong>一字涨停</strong>（中科曙光封单168亿元）。</li>
+              <li><strong>分歧点</strong>：部分投资者担忧合并后商誉减值（海通证券海外亏损50亿元需一次性计提）。</li>
+            </ul>
+          </div>
+          
+          <div>
+            <h3 class="text-xl font-semibold text-gray-800 mb-3">预期差分析</h3>
+            <ul class="list-disc pl-6 text-gray-700 space-y-1">
+              <li><strong>市场忽略点</strong>：
+                <ul class="list-circle pl-6 mt-1 space-y-1">
+                  <li><strong>中国船舶</strong>：合并仅为起点，后续<strong>沪东中华（LNG船龙头）</strong>等资产注入预期未充分定价。</li>
+                  <li><strong>湘财股份</strong>：大智慧1000万月活用户转化率被低估（参考东方财富单用户价值379元，潜在增量利润10亿元）。</li>
+                </ul>
+              </li>
+            </ul>
+          </div>
+        </div>
+      </div>
+
+      <!-- 关键催化剂与未来发展路径 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-rocket text-indigo-600 mr-3"></i>
+          关键催化剂与未来发展路径
+        </h2>
+        
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div>
+            <h3 class="text-xl font-semibold text-gray-800 mb-3">近期催化剂（3-6个月）</h3>
+            <div class="space-y-3">
+              <div class="bg-blue-50 rounded-lg p-4">
+                <h4 class="font-semibold text-blue-800 mb-1">政策落地</h4>
+                <p class="text-gray-700">2025年Q3《证券业并购细则》或出台，明确换股合并税收优惠。</p>
+              </div>
+              
+              <div class="bg-purple-50 rounded-lg p-4">
+                <h4 class="font-semibold text-purple-800 mb-1">业绩验证</h4>
+                <ul class="list-disc pl-5 text-gray-700 space-y-1 mt-2">
+                  <li>国泰君安合并后Q2财报将首次披露<strong>协同效应</strong>（成本削减5%+投行市占率提升）。</li>
+                  <li>海光信息合并后<strong>AI服务器订单</strong>（阿里3万颗深算三号芯片交付）。</li>
+                </ul>
+              </div>
+            </div>
+          </div>
+          
+          <div>
+            <h3 class="text-xl font-semibold text-gray-800 mb-3">长期路径（2025-2027）</h3>
+            <div class="relative pl-8">
+              <div class="timeline-line"></div>
+              
+              <div class="relative mb-4">
+                <div class="timeline-dot bg-green-500"></div>
+                <div class="ml-4">
+                  <h4 class="font-semibold text-gray-800">阶段1（2025）</h4>
+                  <p class="text-gray-700">央企主导（船舶、券商）</p>
+                </div>
+              </div>
+              
+              <div class="relative mb-4">
+                <div class="timeline-dot bg-yellow-500"></div>
+                <div class="ml-4">
+                  <h4 class="font-semibold text-gray-800">阶段2（2026）</h4>
+                  <p class="text-gray-700">市场化并购（半导体、新能源）</p>
+                </div>
+              </div>
+              
+              <div class="relative">
+                <div class="timeline-dot bg-red-500"></div>
+                <div class="ml-4">
+                  <h4 class="font-semibold text-gray-800">阶段3（2027）</h4>
+                  <p class="text-gray-700">国际化整合（如中船收购韩国船厂）</p>
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <!-- 产业链与核心公司深度剖析 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-sitemap text-indigo-600 mr-3"></i>
+          产业链与核心公司深度剖析
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">产业链图谱</h3>
+          <div class="bg-gray-100 rounded-lg p-4 text-center">
+            <div class="flex flex-col md:flex-row justify-center items-center space-y-2 md:space-y-0 md:space-x-8">
+              <div class="bg-blue-100 px-4 py-2 rounded-lg font-semibold text-blue-800">上游：军工/科技资产<br><span class="text-sm font-normal">（沪东中华、中科曙光）</span></div>
+              <div class="text-2xl text-gray-500">→</div>
+              <div class="bg-purple-100 px-4 py-2 rounded-lg font-semibold text-purple-800">中游：整合平台<br><span class="text-sm font-normal">（中国船舶、国泰君安、海光信息）</span></div>
+              <div class="text-2xl text-gray-500">→</div>
+              <div class="bg-green-100 px-4 py-2 rounded-lg font-semibold text-green-800">下游：应用场景<br><span class="text-sm font-normal">（LNG船、券商服务、AI算力）</span></div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">核心玩家对比</h3>
+          <div class="overflow-x-auto">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+              <thead>
+                <tr class="bg-gray-100">
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">公司</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">角色</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">优势</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">风险</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国船舶</td>
+                  <td class="py-3 px-4 text-gray-700">军工整合龙头</td>
+                  <td class="py-3 px-4 text-gray-700">全球造船市占率22%，LNG船技术突破</td>
+                  <td class="py-3 px-4 text-gray-700">船价周期见顶风险</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">国泰君安</td>
+                  <td class="py-3 px-4 text-gray-700">券商航母</td>
+                  <td class="py-3 px-4 text-gray-700">合并后净资产4800亿，投行第一</td>
+                  <td class="py-3 px-4 text-gray-700">海通证券商誉减值</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">海光信息</td>
+                  <td class="py-3 px-4 text-gray-700">算力生态核心</td>
+                  <td class="py-3 px-4 text-gray-700">GPU业务60倍PE，绑定阿里/政府订单</td>
+                  <td class="py-3 px-4 text-gray-700">寒武纪等竞品技术追赶</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">流量变现平台</td>
+                  <td class="py-3 px-4 text-gray-700">大智慧1000万月活，券商牌照稀缺</td>
+                  <td class="py-3 px-4 text-gray-700">整合不及预期</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <div class="mt-6">
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">验证与证伪</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+            <div class="bg-green-50 rounded-lg p-4">
+              <h4 class="font-semibold text-green-800 mb-2">数据印证</h4>
+              <p class="text-gray-700">中国船舶2024年新接订单<strong>800万载重吨</strong>（同比+50%），验证行业高景气。</p>
+            </div>
+            <div class="bg-red-50 rounded-lg p-4">
+              <h4 class="font-semibold text-red-800 mb-2">矛盾点</h4>
+              <p class="text-gray-700">东北证券预测国泰君安合并后市值7000亿（PB 1.6倍），但华泰证券修正为5000亿（PB 1.1倍），<strong>估值分歧显著</strong>。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <!-- 潜在风险与挑战 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-exclamation-triangle text-indigo-600 mr-3"></i>
+          潜在风险与挑战
+        </h2>
+        
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+            <thead>
+              <tr class="bg-gray-100">
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">风险类型</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">具体表现</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">案例</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700 font-semibold">技术风险</td>
+                <td class="py-3 px-4 text-gray-700">LNG船国产化率仅70%，核心部件依赖进口</td>
+                <td class="py-3 px-4 text-gray-700">中国重工亏损7亿（低价订单）</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700 font-semibold">商业化风险</td>
+                <td class="py-3 px-4 text-gray-700">券商合并后客户流失（网点重叠）</td>
+                <td class="py-3 px-4 text-gray-700">国泰君安+海通上海网点重复率30%</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="py-3 px-4 text-gray-700 font-semibold">政策风险</td>
+                <td class="py-3 px-4 text-gray-700">反垄断审查（如券商合并后CR5>50%）</td>
+                <td class="py-3 px-4 text-gray-700">欧盟曾否决韩国现代+大宇合并</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-gray-700 font-semibold">信息矛盾</td>
+                <td class="py-3 px-4 text-gray-700">海通证券净资产数据差异（2000亿 vs 2800亿）</td>
+                <td class="py-3 px-4 text-gray-700">需核查减值计提口径</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <!-- 综合结论与投资启示 -->
+      <div class="bg-gradient-to-r from-indigo-600 to-purple-600 rounded-xl card-shadow p-6 mb-8 text-white">
+        <h2 class="text-2xl font-bold mb-4 flex items-center">
+          <i class="fas fa-chart-line mr-3"></i>
+          综合结论与投资启示
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold mb-3">阶段判断</h3>
+          <p class="mb-4">当前处于<strong>主题炒作向基本面驱动过渡期</strong>，合并后协同效应（如中国船舶成本下降10%）将逐步验证。</p>
+        </div>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold mb-3">投资方向</h3>
+          <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">军工整合</h4>
+              <ul class="list-disc pl-5 space-y-1">
+                <li>中国船舶（沪东中华注入预期）</li>
+                <li>中船防务（华南军船基地）</li>
+              </ul>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">券商流量变现</h4>
+              <ul class="list-disc pl-5 space-y-1">
+                <li>湘财股份（大智慧月活转化）</li>
+                <li>东方财富（估值对标）</li>
+              </ul>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">科技生态</h4>
+              <ul class="list-disc pl-5 space-y-1">
+                <li>海光信息（GPU+服务器闭环）</li>
+                <li>中科曙光（液冷技术）</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-3">跟踪指标</h3>
+          <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">订单数据</h4>
+              <p>中国船舶2025年LNG船接单量（目标全球50%）</p>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">用户转化</h4>
+              <p>湘财股份合并后Q3新增开户数（需达50万/月）</p>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <h4 class="font-bold mb-2">技术落地</h4>
+              <p>海光信息深算三号芯片在阿里数据中心的渗透率（当前3万颗→目标10万颗）</p>
+            </div>
+          </div>
+        </div>
+        
+        <div class="mt-6 bg-red-500 bg-opacity-30 rounded-lg p-4">
+          <p class="font-semibold">风险提示</p>
+          <p>若2025年Q3合并后业绩不及预期（如海通证券商誉减值超预期），可能引发板块回调。</p>
+        </div>
+      </div>
+
+      <!-- 关联股票数据 -->
+      <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+        <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+          <i class="fas fa-table text-indigo-600 mr-3"></i>
+          关联股票数据
+        </h2>
+        
+        <!-- 中船合并 -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold text-gray-800 mb-4">中船合并(250706)</h3>
+          <div class="table-container">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+              <thead>
+                <tr class="bg-gray-100">
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">股票</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">分类</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">业务相关</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">持股比例</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">信息来源</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中船防务</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶工业集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船工业集团持股56.89%；公司为大型综合性海洋与防务装备企业集团，是中国海军华南地区重要的军用舰船生产和保障基地，是国内重要的公务船建造基地</td>
+                  <td class="py-3 px-4 text-gray-700">56.89%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">公司作为中船工业集团控股企业，聚焦海洋防务装备与公务船建造，符合集团战略定位</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国船舶</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶工业集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船工业集团持股47.23%；公司为国内最大造船产能的上市企业，军民舰船产品谱系持续完善</td>
+                  <td class="py-3 px-4 text-gray-700">47.23%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">作为中船工业集团旗下核心造船平台，承担军民舰船研发生产任务</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中船科技</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶工业集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船工业集团持股21.25%；公司为中船集团清洁能源领域核心企业（风电）；业务涵盖船舶配套</td>
+                  <td class="py-3 px-4 text-gray-700">21.25%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">聚焦清洁能源装备研发，与集团新能源战略高度协同</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中船特气</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股69.17%；公司国内电子特种气体领域的骨干力量，部分产品品质已达到国际领先水平，已进入境外集成电路3nm先进制程</td>
+                  <td class="py-3 px-4 text-gray-700">69.17%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">电子特气技术突破国际先进制程，符合半导体产业链自主可控需求</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国海防</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股62.91%；水声电子是公司的核心业务，产品覆盖水下信息系统、信息探测、信息获取、信息对抗、信息传输等各专业</td>
+                  <td class="py-3 px-4 text-gray-700">62.91%</td>
+                  <td class="py-3 px-4 text-gray-700">互动</td>
+                  <td class="py-3 px-4 text-gray-700">水声电子技术覆盖全链条，支撑海军信息化建设</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">昆船智能</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股60%；公司瞄准"智能制造+智慧物流"的产业方向，服务于烟草、酒业、医药、快速电商、军事军工、汽车、家电、3C等行业</td>
+                  <td class="py-3 px-4 text-gray-700">60%</td>
+                  <td class="py-3 px-4 text-gray-700">官网</td>
+                  <td class="py-3 px-4 text-gray-700">智慧物流系统集成能力突出，服务多领域高端制造</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">久之洋</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股58.25%；公司主营业务包括红外热像仪、激光传感器、光学镜头及光学元件和光学星体跟踪器等业务</td>
+                  <td class="py-3 px-4 text-gray-700">58.25%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">光电探测技术领先，支撑军工装备升级需求</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中船应急</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股57.49%；公司为中国专业化军工后勤运输投送保障装备（舟桥、机械化桥）领域的国家级高新技术企业</td>
+                  <td class="py-3 px-4 text-gray-700">57.49%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">军工应急装备技术壁垒高，符合国防动员体系建设需求</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国重工</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股46.31%；公司为海军装备的主要供应商，涵盖海洋防务、深海装备等业务板块</td>
+                  <td class="py-3 px-4 text-gray-700">46.31%</td>
+                  <td class="py-3 px-4 text-gray-700">官网</td>
+                  <td class="py-3 px-4 text-gray-700">海军装备核心总装平台，受益于舰船换装周期</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国动力</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股40.11%；公司为国内海军舰船动力及传动装备的主要研制商和生产商</td>
+                  <td class="py-3 px-4 text-gray-700">40.11%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">舰船动力系统独家供应商，技术壁垒显著</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中船汉光</td>
+                  <td class="py-3 px-4 text-gray-700">中国船舶重工集团</td>
+                  <td class="py-3 px-4 text-gray-700">中船重工集团持股26.89%；公司为国内OPC鼓及墨粉的主要生产企业之一</td>
+                  <td class="py-3 px-4 text-gray-700">26.89%</td>
+                  <td class="py-3 px-4 text-gray-700">年报</td>
+                  <td class="py-3 px-4 text-gray-700">办公耗材领域细分龙头，技术积累深厚</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 湘财合并大智慧 -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold text-gray-800 mb-4">湘财合并大智慧(250329)</h3>
+          <div class="table-container">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+              <thead>
+                <tr class="bg-gray-100">
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">股票</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">分类</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">项目/持股公司/关联公司/合作方</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">业务相关性/持股比例/实际控制人/合作内容</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">资料来源</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">并购重组</td>
+                  <td class="py-3 px-4 text-gray-700">拟换股吸收合并大智慧</td>
+                  <td class="py-3 px-4 text-gray-700">2025年3月31日复牌；3月28日晚公告，拟换股吸收合并大智慧，全面提升综合金融服务能力</td>
+                  <td class="py-3 px-4 text-gray-700">公告</td>
+                  <td class="py-3 px-4 text-gray-700">公司计划通过换股吸收合并大智慧以增强综合金融服务能力</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">参股湘财</td>
+                  <td class="py-3 px-4 text-gray-700">新湖发展</td>
+                  <td class="py-3 px-4 text-gray-700">合计持有总股本27.82%（直接持有16.24%；通过新湖控股间接持有11.58%）</td>
+                  <td class="py-3 px-4 text-gray-700">爱企查</td>
+                  <td class="py-3 px-4 text-gray-700">新湖发展通过直接和间接方式合计持有湘财股份27.82%股权</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">参股湘财</td>
+                  <td class="py-3 px-4 text-gray-700">华升股份</td>
+                  <td class="py-3 px-4 text-gray-700">0.37%（1047.52万股）</td>
+                  <td class="py-3 px-4 text-gray-700">公告</td>
+                  <td class="py-3 px-4 text-gray-700">华升股份持有湘财股份0.37%股权</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">参股湘财</td>
+                  <td class="py-3 px-4 text-gray-700">中国长城</td>
+                  <td class="py-3 px-4 text-gray-700">2024年半年报显示持有湘财股份，期末账面价值1190.16万元</td>
+                  <td class="py-3 px-4 text-gray-700">公告</td>
+                  <td class="py-3 px-4 text-gray-700">中国长城在2024年半年报中披露持有湘财股份</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">参股湘财</td>
+                  <td class="py-3 px-4 text-gray-700">国网英大</td>
+                  <td class="py-3 px-4 text-gray-700">控股股东国网英大国际控股集团持有湘财股份总股本11.3%</td>
+                  <td class="py-3 px-4 text-gray-700">公告</td>
+                  <td class="py-3 px-4 text-gray-700">国网英大国际控股集团直接持有湘财股份11.3%股权</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">浙江系券商</td>
+                  <td class="py-3 px-4 text-gray-700">财通证券</td>
+                  <td class="py-3 px-4 text-gray-700">浙江省财政厅</td>
+                  <td class="py-3 px-4 text-gray-700">爱企查</td>
+                  <td class="py-3 px-4 text-gray-700">财通证券与湘财股份同属浙江省财政厅控制的券商</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">浙江系券商</td>
+                  <td class="py-3 px-4 text-gray-700">浙商证券</td>
+                  <td class="py-3 px-4 text-gray-700">浙江交通投资集团（浙江国资委持股90%）</td>
+                  <td class="py-3 px-4 text-gray-700">爱企查</td>
+                  <td class="py-3 px-4 text-gray-700">浙商证券与湘财股份同属浙江省属券商</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-gray-700 font-semibold">湘财股份</td>
+                  <td class="py-3 px-4 text-gray-700">战略合作</td>
+                  <td class="py-3 px-4 text-gray-700">九方智投控股（港股）</td>
+                  <td class="py-3 px-4 text-gray-700">2024年3月8日，子公司九方智投与湘财股份签署战略合作协议</td>
+                  <td class="py-3 px-4 text-gray-700">官微</td>
+                  <td class="py-3 px-4 text-gray-700">双方在2024年3月签署战略合作协议</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 重组-中科院系&海光系 -->
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-4">重组-中科院系&海光系(250525)</h3>
+          <div class="table-container">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+              <thead>
+                <tr class="bg-gray-100">
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">股票</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">重组公司/中科曙光持股/中科院持股/产业链/项目/北交所</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">持股比例/项目/产业链</th>
+                  <th class="py-3 px-4 text-left text-gray-700 font-semibold">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科曙光</td>
+                  <td class="py-3 px-4 text-gray-700">重组公司</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股14.68%，为第一大股东</td>
+                  <td class="py-3 px-4 text-gray-700">中科院为中科曙光第一大股东，公司涉及数据中心液冷技术</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">海光信息</td>
+                  <td class="py-3 px-4 text-gray-700">重组公司</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光持股27.96%，为第一大股东</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光为海光信息第一大股东，共同布局数据中心液冷领域</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">曙光数创</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光持股</td>
+                  <td class="py-3 px-4 text-gray-700">62.07%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光控股子公司，专注数据中心液冷技术</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科星图</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光持股</td>
+                  <td class="py-3 px-4 text-gray-700">15.7%（第二大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光为第二大股东，业务涉及航天测控与数字孪生</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">星图测控</td>
+                  <td class="py-3 px-4 text-gray-700">中科曙光持股</td>
+                  <td class="py-3 px-4 text-gray-700">间接持股5.26%</td>
+                  <td class="py-3 px-4 text-gray-700">中科星图子公司，航天测控与数字仿真业务</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">新致软件</td>
+                  <td class="py-3 px-4 text-gray-700">海光系持股</td>
+                  <td class="py-3 px-4 text-gray-700">基于海光深算系列芯片推出AI一体机产品</td>
+                  <td class="py-3 px-4 text-gray-700">海光系技术路线延伸至AI硬件领域</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国长城</td>
+                  <td class="py-3 px-4 text-gray-700">海光系持股</td>
+                  <td class="py-3 px-4 text-gray-700">服务器产品覆盖海光等技术路线</td>
+                  <td class="py-3 px-4 text-gray-700">海光技术应用于服务器产品</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">禾盛新材</td>
+                  <td class="py-3 px-4 text-gray-700">海光系持股</td>
+                  <td class="py-3 px-4 text-gray-700">协同研发适配人工智能计算的芯片</td>
+                  <td class="py-3 px-4 text-gray-700">与海光合作研发AI计算芯片</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">华宇软件</td>
+                  <td class="py-3 px-4 text-gray-700">海光系持股</td>
+                  <td class="py-3 px-4 text-gray-700">联合海光发布万象公文大模型一体机</td>
+                  <td class="py-3 px-4 text-gray-700">与海光合作开发AI大模型硬件</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">思特奇</td>
+                  <td class="py-3 px-4 text-gray-700">海光系持股</td>
+                  <td class="py-3 px-4 text-gray-700">全栈异构资源统一纳管能力，支持x86、ARM架构</td>
+                  <td class="py-3 px-4 text-gray-700">支持海光等多架构计算资源管理</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中国科传</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">74.4%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院控股的科技出版平台</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">奥普光电</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">长春光机所持股42.4%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">长春光机所控股，涉及光刻机部件</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科环保</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">39.98%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的环保技术企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科信息</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">30.53%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院控股的智能识别技术企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">联泓新科</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">25.27%（第二大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的新材料企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">机器人</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">25.18%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院控股的工业机器人企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">福晶科技</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">20.58%（第一大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的光学材料企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">龙芯中科</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">19.32%（第二大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的芯片设计企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">寒武纪</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">15.73%（第二大股东）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的AI芯片企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科方德</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">14.17%（未上市）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院参股的国产操作系统企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">东方中科</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">12.19%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的测试技术企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">国科恒泰</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">11.4%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的医疗供应链企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科软</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">背景持股</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的软件企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">国盾量子</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">4.43%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的量子技术企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">森远股份</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">3.86%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院参股的公路设备企业</td>
+                </tr>
+                <tr class="border-b border-gray-200">
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科三环</td>
+                  <td class="py-3 px-4 text-gray-700">中科院持股</td>
+                  <td class="py-3 px-4 text-gray-700">0.82%（间接持股）</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的稀土材料企业</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-gray-700 font-semibold">中科美菱</td>
+                  <td class="py-3 px-4 text-gray-700">北交所</td>
+                  <td class="py-3 px-4 text-gray-700">中科院理化所间接持股20.16%</td>
+                  <td class="py-3 px-4 text-gray-700">中科院背景的医疗设备企业</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <!-- Vanta.js 背景效果 -->
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <script>
+    VANTA.WAVES({
+      el: "#vanta-bg",
+      mouseControls: true,
+      touchControls: true,
+      gyroControls: false,
+      minHeight: 200.00,
+      minWidth: 200.00,
+      scale: 1.00,
+      scaleMobile: 1.00,
+      color: 0x667eea,
+      shininess: 30.00,
+      waveHeight: 15.00,
+      waveSpeed: 0.75,
+      zoom: 0.75
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/2025年政府工作报告利好行业及个股.html

@@ -0,0 +1,681 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>2025年政府工作报告利好行业及个股分析</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+    }
+    .timeline-item {
+      position: relative;
+      padding-left: 40px;
+    }
+    .timeline-item::before {
+      content: '';
+      position: absolute;
+      left: 8px;
+      top: 0;
+      bottom: 0;
+      width: 2px;
+      background: linear-gradient(to bottom, #3b82f6, #8b5cf6);
+    }
+    .timeline-dot {
+      position: absolute;
+      left: 0;
+      top: 8px;
+      width: 18px;
+      height: 18px;
+      border-radius: 50%;
+      background: #3b82f6;
+      border: 3px solid white;
+      box-shadow: 0 0 0 2px rgba(59, 130, 246, 0.3);
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 20px rgba(0, 0, 0, 0.1);
+    }
+    .industry-tag {
+      display: inline-block;
+      padding: 4px 12px;
+      border-radius: 20px;
+      font-size: 0.75rem;
+      font-weight: 600;
+      margin-right: 8px;
+      margin-bottom: 8px;
+    }
+    #tsparticles {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+      opacity: 0.3;
+    }
+    .chart-container {
+      position: relative;
+      height: 300px;
+      width: 100%;
+    }
+    @media (max-width: 768px) {
+      .timeline-item {
+        padding-left: 30px;
+      }
+      .timeline-dot {
+        width: 14px;
+        height: 14px;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50 text-gray-800">
+  <div id="tsparticles"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 bg-gradient-to-r from-blue-600 to-purple-600 bg-clip-text text-transparent">
+        2025年政府工作报告利好行业及个股分析
+      </h1>
+      <div class="flex justify-center items-center text-gray-600 mb-4">
+        <i class="far fa-calendar-alt mr-2"></i>
+        <span>发布日期：2025年3月5日</span>
+      </div>
+      <div class="w-24 h-1 bg-gradient-to-r from-blue-500 to-purple-500 mx-auto rounded-full"></div>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="card bg-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-history text-blue-500 mr-3"></i>
+          概念事件时间轴
+        </h2>
+        <div class="space-y-6">
+          <div class="timeline-item">
+            <div class="timeline-dot"></div>
+            <div class="bg-blue-50 p-4 rounded-lg">
+              <div class="flex justify-between items-start mb-2">
+                <h3 class="font-bold text-lg">2025-03-05</h3>
+                <span class="industry-tag bg-blue-100 text-blue-800">政策发布</span>
+              </div>
+              <p class="text-gray-700">国务院发布《政府工作报告》，明确GDP目标5%、赤字率4%（历史新高）、CPI目标2%（首次下调），并首次将"人工智能+"、"低空经济"、"育儿补贴"写入报告。</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item">
+            <div class="timeline-dot"></div>
+            <div class="bg-purple-50 p-4 rounded-lg">
+              <div class="flex justify-between items-start mb-2">
+                <h3 class="font-bold text-lg">2025-03-06</h3>
+                <span class="industry-tag bg-purple-100 text-purple-800">财政详解</span>
+              </div>
+              <p class="text-gray-700">财政部详解1.3万亿超长期特别国债用途（8000亿基建、3000亿消费以旧换新、2000亿设备更新），5000亿特别国债注资银行补充资本。</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item">
+            <div class="timeline-dot"></div>
+            <div class="bg-green-50 p-4 rounded-lg">
+              <div class="flex justify-between items-start mb-2">
+                <h3 class="font-bold text-lg">2025-03-10</h3>
+                <span class="industry-tag bg-green-100 text-green-800">地方细则</span>
+              </div>
+              <p class="text-gray-700">呼和浩特、深圳、广州等地密集出台生育补贴细则（如三胎一次性奖励5万元），政策落地速度超预期。</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item">
+            <div class="timeline-dot"></div>
+            <div class="bg-yellow-50 p-4 rounded-lg">
+              <div class="flex justify-between items-start mb-2">
+                <h3 class="font-bold text-lg">2025-04-01</h3>
+                <span class="industry-tag bg-yellow-100 text-yellow-800">技术路线</span>
+              </div>
+              <p class="text-gray-700">工信部发布固态电池400Wh/kg技术路线图，明确2025年低空经济渗透率目标40%。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card bg-gradient-to-r from-blue-500 to-purple-600 text-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-lightbulb mr-3"></i>
+          核心观点摘要
+        </h2>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-5 rounded-lg">
+            <h3 class="font-bold text-lg mb-3">政策驱动型牛市起点</h3>
+            <p>2025年政府工作报告标志着从"防风险"转向"稳增长+促创新"，财政赤字率4%（历史最高）与1.8万亿增量资金（特别国债+专项债）构成史上最强政策组合拳。</p>
+          </div>
+          <div class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-5 rounded-lg">
+            <h3 class="font-bold text-lg mb-3">三大主线清晰</h3>
+            <p>AI全产业链（算力→应用→终端）、新能源技术迭代（固态电池/光伏反内卷）、人口政策红利（生育补贴+托幼服务）。当前处于政策预期→订单落地的过渡阶段，Q2财报季将是关键验证窗口。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card bg-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-brain text-purple-500 mr-3"></i>
+          核心逻辑与市场认知分析
+        </h2>
+        
+        <div class="mb-8">
+          <h3 class="text-xl font-bold mb-4 text-blue-600">核心驱动力</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+            <div class="bg-blue-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-coins text-blue-500 mr-2"></i>
+                财政力度空前
+              </h4>
+              <p>广义赤字率8.4%（2024年仅6.6%），超长期特别国债1.3万亿（同比+3000亿）直接投向新基建（算力/6G）和消费补贴（3000亿以旧换新）。</p>
+            </div>
+            <div class="bg-purple-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-microchip text-purple-500 mr-2"></i>
+                技术临界点突破
+              </h4>
+              <ul class="list-disc pl-5 space-y-2">
+                <li><strong>AI</strong>：DeepSeek等国产大模型成本降至GPT-4的1/10（路演数据），推动AI手机/PC渗透率从2024年5%→2025年25%（IDC预测）。</li>
+                <li><strong>固态电池</strong>：工信部目标2025年400Wh/kg量产（当前300Wh/kg），宁德时代/赣锋锂业硫化物路线已进入中试。</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+        
+        <div class="mb-8">
+          <h3 class="text-xl font-bold mb-4 text-green-600">市场热度与情绪</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+            <div class="bg-green-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-chart-line text-green-500 mr-2"></i>
+                研报密集度
+              </h4>
+              <p>3月5-7日15家头部券商发布专题报告，"人工智能+"提及频次较2024年提升300%（Wind数据）。</p>
+            </div>
+            <div class="bg-yellow-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-money-bill-wave text-yellow-500 mr-2"></i>
+                资金动向
+              </h4>
+              <p>北向资金3月净流入200亿，半导体（+15%）/机器人（+22%）板块领涨，但地产链（-5%）出现分歧。</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-4 text-red-600">预期差分析</h3>
+          <div class="bg-red-50 p-5 rounded-lg">
+            <h4 class="font-bold mb-3">被低估领域</h4>
+            <ul class="list-disc pl-5 space-y-3">
+              <li><strong>生育补贴</strong>：市场仅关注母婴用品（如贝因美），忽略托幼服务（如孩子王布局托育中心，单店模型盈利已验证）。</li>
+              <li><strong>低空经济</strong>：研报聚焦无人机（亿航智能），但空管系统（如四川九洲）订单未充分定价（2025年空管设备招标量预计翻倍）。</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card bg-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-rocket text-indigo-500 mr-3"></i>
+          关键催化剂与未来发展路径
+        </h2>
+        
+        <div class="mb-8">
+          <h3 class="text-xl font-bold mb-4 text-indigo-600">近期催化剂（3-6个月）</h3>
+          <div class="overflow-x-auto">
+            <table class="min-w-full bg-white">
+              <thead>
+                <tr class="bg-indigo-50">
+                  <th class="py-3 px-4 text-left font-semibold text-indigo-700">时间</th>
+                  <th class="py-3 px-4 text-left font-semibold text-indigo-700">事件</th>
+                  <th class="py-3 px-4 text-left font-semibold text-indigo-700">影响标的</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">2025-04</td>
+                  <td class="py-3 px-4">华为AI PC发布会</td>
+                  <td class="py-3 px-4 text-blue-600">软通动力（鸿蒙PC代工）</td>
+                </tr>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">2025-05</td>
+                  <td class="py-3 px-4">固态电池装车验证</td>
+                  <td class="py-3 px-4 text-blue-600">赣锋锂业（东风汽车配套）</td>
+                </tr>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">2025-06</td>
+                  <td class="py-3 px-4">生育补贴全国推广细则</td>
+                  <td class="py-3 px-4 text-blue-600">中国飞鹤（奶粉补贴目录）</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-4 text-teal-600">长期路径</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+            <div class="bg-teal-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-robot text-teal-500 mr-2"></i>
+                AI商业化
+              </h4>
+              <p>2025年B端AI应用（如AI公务员）渗透率10%→2027年50%（Gartner预测）。</p>
+            </div>
+            <div class="bg-cyan-50 p-5 rounded-lg">
+              <h4 class="font-bold mb-3 flex items-center">
+                <i class="fas fa-battery-full text-cyan-500 mr-2"></i>
+                新能源
+              </h4>
+              <p>固态电池成本2025年$100/kWh→2027年$80/kWh（BNEF），推动电动两轮车（九号公司）全面替换铅酸电池。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card bg-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-sitemap text-pink-500 mr-3"></i>
+          产业链与核心公司深度剖析
+        </h2>
+        
+        <div class="mb-8">
+          <h3 class="text-xl font-bold mb-4 text-pink-600">产业链图谱</h3>
+          <div class="bg-gradient-to-r from-pink-50 to-purple-50 p-6 rounded-lg">
+            <div class="flex flex-col md:flex-row justify-between items-center">
+              <div class="text-center mb-4 md:mb-0">
+                <div class="bg-pink-500 text-white rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-microchip text-xl"></i>
+                </div>
+                <h4 class="font-bold">上游</h4>
+                <p class="text-sm">算力/材料</p>
+                <p class="text-xs mt-1">寒武纪/海光信息</p>
+              </div>
+              <div class="text-2xl text-pink-500 mb-4 md:mb-0">
+                <i class="fas fa-arrow-right"></i>
+              </div>
+              <div class="text-center mb-4 md:mb-0">
+                <div class="bg-purple-500 text-white rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-cogs text-xl"></i>
+                </div>
+                <h4 class="font-bold">中游</h4>
+                <p class="text-sm">设备/软件</p>
+                <p class="text-xs mt-1">宁德时代/赣锋锂业</p>
+              </div>
+              <div class="text-2xl text-purple-500 mb-4 md:mb-0">
+                <i class="fas fa-arrow-right"></i>
+              </div>
+              <div class="text-center">
+                <div class="bg-indigo-500 text-white rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-mobile-alt text-xl"></i>
+                </div>
+                <h4 class="font-bold">下游</h4>
+                <p class="text-sm">应用/服务</p>
+                <p class="text-xs mt-1">科大讯飞/金山办公</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-4 text-orange-600">核心玩家对比</h3>
+          <div class="overflow-x-auto">
+            <table class="min-w-full bg-white">
+              <thead>
+                <tr class="bg-orange-50">
+                  <th class="py-3 px-4 text-left font-semibold text-orange-700">公司</th>
+                  <th class="py-3 px-4 text-left font-semibold text-orange-700">业务纯度</th>
+                  <th class="py-3 px-4 text-left font-semibold text-orange-700">订单验证</th>
+                  <th class="py-3 px-4 text-left font-semibold text-orange-700">风险点</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">寒武纪</td>
+                  <td class="py-3 px-4">100% AI芯片</td>
+                  <td class="py-3 px-4">字节跳动2025年订单50万片（路演确认）</td>
+                  <td class="py-3 px-4 text-red-600">美国制裁升级风险</td>
+                </tr>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">孩子王</td>
+                  <td class="py-3 px-4">托幼服务</td>
+                  <td class="py-3 px-4">单店模型EBITDA利润率18%（2024年报）</td>
+                  <td class="py-3 px-4 text-red-600">出生人口持续下滑</td>
+                </tr>
+                <tr class="border-b hover:bg-gray-50">
+                  <td class="py-3 px-4 font-medium">九号公司</td>
+                  <td class="py-3 px-4">电动两轮车</td>
+                  <td class="py-3 px-4">Q1出货量+87%（开源证券数据）</td>
+                  <td class="py-3 px-4 text-red-600">雅迪/爱玛价格战</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card bg-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-exclamation-triangle text-red-500 mr-3"></i>
+          潜在风险与挑战
+        </h2>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-red-50 p-5 rounded-lg">
+            <h3 class="font-bold mb-3 text-red-700">技术风险</h3>
+            <p>固态电池硫化物电解质成本仍高（$150/kWh vs 液态$80/kWh）。</p>
+          </div>
+          <div class="bg-yellow-50 p-5 rounded-lg">
+            <h3 class="font-bold mb-3 text-yellow-700">政策风险</h3>
+            <p>生育补贴若中央财政承担比例低于50%（当前地方试点），推广可能受阻。</p>
+          </div>
+          <div class="bg-orange-50 p-5 rounded-lg">
+            <h3 class="font-bold mb-3 text-orange-700">竞争风险</h3>
+            <p>AI应用赛道同质化严重（超200家大模型公司），价格战或压缩利润。</p>
+          </div>
+          <div class="bg-purple-50 p-5 rounded-lg">
+            <h3 class="font-bold mb-3 text-purple-700">信息矛盾</h3>
+            <p>研报预测光伏组件价格Q2反弹3-5分/瓦，但硅料库存仍高（40万吨，够6个月需求），反弹持续性存疑。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card bg-gradient-to-r from-green-500 to-teal-600 text-white shadow-lg rounded-xl mb-8 card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-chart-pie mr-3"></i>
+          综合结论与投资启示
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-bold mb-3">阶段判断</h3>
+          <p class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-4 rounded-lg">当前处于政策蜜月期→订单验证期，AI算力/固态电池已进入基本面驱动，托幼服务/低空经济仍为主题炒作。</p>
+        </div>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-bold mb-3">高价值细分</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+            <div class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-4 rounded-lg">
+              <h4 class="font-bold mb-2">AI算力芯片（寒武纪）</h4>
+              <p>国产替代+订单爆发双重逻辑，2025年PE 50x（vs 英伟达30x）仍有空间。</p>
+            </div>
+            <div class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-4 rounded-lg">
+              <h4 class="font-bold mb-2">固态电池材料（赣锋锂业）</h4>
+              <p>技术领先+车企绑定（东风/蔚来），2025年出货量指引5GWh（2024年仅0.5GWh）。</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-3">关键跟踪指标</h3>
+          <div class="bg-white bg-opacity-20 backdrop-filter backdrop-blur-lg p-4 rounded-lg">
+            <ul class="list-disc pl-5 space-y-2">
+              <li><strong>寒武纪</strong>：Q2字节跳动订单确认收入比例（需>60%验证商业化）。</li>
+              <li><strong>孩子王</strong>：2025年托育中心开店数（目标200家 vs 2024年50家）。</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据表格 -->
+    <div class="card bg-white shadow-lg rounded-xl card-hover">
+      <div class="card-body p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-table text-indigo-500 mr-3"></i>
+          关联股票数据
+        </h2>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white">
+            <thead>
+              <tr class="bg-indigo-50">
+                <th class="py-3 px-4 text-left font-semibold text-indigo-700">股票</th>
+                <th class="py-3 px-4 text-left font-semibold text-indigo-700">行业分类</th>
+                <th class="py-3 px-4 text-left font-semibold text-indigo-700">政策重点</th>
+                <th class="py-3 px-4 text-left font-semibold text-indigo-700">受益领域</th>
+                <th class="py-3 px-4 text-left font-semibold text-indigo-700">原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">上海医药</td>
+                <td class="py-3 px-4">生物制造与生物医药</td>
+                <td class="py-3 px-4">列为战略性新兴产业，推动技术融合与区域集群发展</td>
+                <td class="py-3 px-4">原料药、疫苗、冷链物流</td>
+                <td class="py-3 px-4">政策支持生物制造与生物医药行业发展，推动技术升级和产业集群化</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">药明康德</td>
+                <td class="py-3 px-4">生物制造与生物医药</td>
+                <td class="py-3 px-4">列为战略性新兴产业，推动技术融合与区域集群发展</td>
+                <td class="py-3 px-4">原料药、疫苗、冷链物流</td>
+                <td class="py-3 px-4">政策支持生物制造与生物医药行业发展，推动技术升级和产业集群化</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">智飞生物</td>
+                <td class="py-3 px-4">生物制造与生物医药</td>
+                <td class="py-3 px-4">列为战略性新兴产业，推动技术融合与区域集群发展</td>
+                <td class="py-3 px-4">原料药、疫苗、冷链物流</td>
+                <td class="py-3 px-4">政策支持生物制造与生物医药行业发展，推动技术升级和产业集群化</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">国药控股</td>
+                <td class="py-3 px-4">生物制造与生物医药</td>
+                <td class="py-3 px-4">列为战略性新兴产业，推动技术融合与区域集群发展</td>
+                <td class="py-3 px-4">原料药、疫苗、冷链物流</td>
+                <td class="py-3 px-4">政策支持生物制造与生物医药行业发展，推动技术升级和产业集群化</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">科大讯飞</td>
+                <td class="py-3 px-4">量子科技与6G</td>
+                <td class="py-3 px-4">突破量子通信、6G网络技术，强化人工智能硬件布局</td>
+                <td class="py-3 px-4">通信基础设施、智能硬件</td>
+                <td class="py-3 px-4">政策推动量子通信和6G技术研发，带动通信和智能硬件产业链</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中兴通讯</td>
+                <td class="py-3 px-4">量子科技与6G</td>
+                <td class="py-3 px-4">突破量子通信、6G网络技术，强化人工智能硬件布局</td>
+                <td class="py-3 px-4">通信基础设施、智能硬件</td>
+                <td class="py-3 px-4">政策推动量子通信和6G技术研发，带动通信和智能硬件产业链</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">国盾量子</td>
+                <td class="py-3 px-4">量子科技与6G</td>
+                <td class="py-3 px-4">突破量子通信、6G网络技术，强化人工智能硬件布局</td>
+                <td class="py-3 px-4">通信基础设施、智能硬件</td>
+                <td class="py-3 px-4">政策推动量子通信和6G技术研发，带动通信和智能硬件产业链</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">航天科技集团（旗下公司）</td>
+                <td class="py-3 px-4">商业航天与低空经济</td>
+                <td class="py-3 px-4">发展卫星互联网、无人机物流，完善空域管理</td>
+                <td class="py-3 px-4">卫星制造、导航技术</td>
+                <td class="py-3 px-4">政策支持商业航天和低空经济发展，推动卫星互联网和无人机应用</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">亿航智能</td>
+                <td class="py-3 px-4">商业航天与低空经济</td>
+                <td class="py-3 px-4">发展卫星互联网、无人机物流，完善空域管理</td>
+                <td class="py-3 px-4">卫星制造、导航技术</td>
+                <td class="py-3 px-4">政策支持商业航天和低空经济发展，推动卫星互联网和无人机应用</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">北斗星通</td>
+                <td class="py-3 px-4">商业航天与低空经济</td>
+                <td class="py-3 px-4">发展卫星互联网、无人机物流，完善空域管理</td>
+                <td class="py-3 px-4">卫星制造、导航技术</td>
+                <td class="py-3 px-4">政策支持商业航天和低空经济发展，推动卫星互联网和无人机应用</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">保利发展</td>
+                <td class="py-3 px-4">房地产</td>
+                <td class="py-3 px-4">城中村改造、保交楼、降息降税，推动行业止跌回稳</td>
+                <td class="py-3 px-4">头部房企、城市更新、建材家居</td>
+                <td class="py-3 px-4">政策支持房地产行业稳定发展，推动城市更新和建材家居需求</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中国建筑</td>
+                <td class="py-3 px-4">房地产</td>
+                <td class="py-3 px-4">城中村改造、保交楼、降息降税，推动行业止跌回稳</td>
+                <td class="py-3 px-4">头部房企、城市更新、建材家居</td>
+                <td class="py-3 px-4">政策支持房地产行业稳定发展，推动城市更新和建材家居需求</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">东方雨虹</td>
+                <td class="py-3 px-4">房地产</td>
+                <td class="py-3 px-4">城中村改造、保交楼、降息降税，推动行业止跌回稳</td>
+                <td class="py-3 px-4">头部房企、城市更新、建材家居</td>
+                <td class="py-3 px-4">政策支持房地产行业稳定发展，推动城市更新和建材家居需求</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">欧派家居</td>
+                <td class="py-3 px-4">房地产</td>
+                <td class="py-3 px-4">城中村改造、保交楼、降息降税，推动行业止跌回稳</td>
+                <td class="py-3 px-4">头部房企、城市更新、建材家居</td>
+                <td class="py-3 px-4">政策支持房地产行业稳定发展，推动城市更新和建材家居需求</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">寒武纪</td>
+                <td class="py-3 px-4">人工智能与半导体</td>
+                <td class="py-3 px-4">加速AI应用扩展与半导体国产替代，培育新质生产力</td>
+                <td class="py-3 px-4">AI芯片、工业自动化</td>
+                <td class="py-3 px-4">政策推动人工智能和半导体国产化，促进技术应用和产业升级</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中芯国际</td>
+                <td class="py-3 px-4">人工智能与半导体</td>
+                <td class="py-3 px-4">加速AI应用扩展与半导体国产替代，培育新质生产力</td>
+                <td class="py-3 px-4">AI芯片、工业自动化</td>
+                <td class="py-3 px-4">政策推动人工智能和半导体国产化，促进技术应用和产业升级</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">汇川技术</td>
+                <td class="py-3 px-4">人工智能与半导体</td>
+                <td class="py-3 px-4">加速AI应用扩展与半导体国产替代，培育新质生产力</td>
+                <td class="py-3 px-4">AI芯片、工业自动化</td>
+                <td class="py-3 px-4">政策推动人工智能和半导体国产化，促进技术应用和产业升级</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">贵州茅台</td>
+                <td class="py-3 px-4">消费与内需</td>
+                <td class="py-3 px-4">扩大内需政策持续发力，聚焦以旧换新、收入提升</td>
+                <td class="py-3 px-4">食品饮料、家电、旅游</td>
+                <td class="py-3 px-4">政策刺激内需消费，推动消费升级和相关行业增长</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">美的集团</td>
+                <td class="py-3 px-4">消费与内需</td>
+                <td class="py-3 px-4">扩大内需政策持续发力，聚焦以旧换新、收入提升</td>
+                <td class="py-3 px-4">食品饮料、家电、旅游</td>
+                <td class="py-3 px-4">政策刺激内需消费，推动消费升级和相关行业增长</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中国中免</td>
+                <td class="py-3 px-4">消费与内需</td>
+                <td class="py-3 px-4">扩大内需政策持续发力，聚焦以旧换新、收入提升</td>
+                <td class="py-3 px-4">食品饮料、家电、旅游</td>
+                <td class="py-3 px-4">政策刺激内需消费，推动消费升级和相关行业增长</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中信证券</td>
+                <td class="py-3 px-4">金融行业</td>
+                <td class="py-3 px-4">资本市场改革深化，优化保险资金投资，稳住楼市股市</td>
+                <td class="py-3 px-4">券商投行、保险资管</td>
+                <td class="py-3 px-4">政策推动资本市场改革，促进金融行业稳定发展</td>
+              </tr>
+              <tr class="border-b hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">中国平安</td>
+                <td class="py-3 px-4">金融行业</td>
+                <td class="py-3 px-4">资本市场改革深化，优化保险资金投资，稳住楼市股市</td>
+                <td class="py-3 px-4">券商投行、保险资管</td>
+                <td class="py-3 px-4">政策推动资本市场改革，促进金融行业稳定发展</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 粒子背景效果
+    tsParticles.load("tsparticles", {
+      particles: {
+        number: {
+          value: 30,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#8b5cf6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: true
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: true,
+          straight: false,
+          out_mode: "out"
+        }
+      },
+      interactivity: {
+        events: {
+          onhover: {
+            enable: true,
+            mode: "repulse"
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/2025智能眼镜浪潮.html

@@ -0,0 +1,703 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>2025智能眼镜浪潮 - 行业洞察报告</title>
+  
+  <!-- Google Fonts -->
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  
+  <!-- Daisy UI -->
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  
+  <!-- Custom CSS -->
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+    }
+    
+    .glass-effect {
+      background: rgba(255, 255, 255, 0.05);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+    }
+    
+    .gradient-text {
+      background: linear-gradient(135deg, #60a5fa 0%, #a78bfa 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 20px 40px rgba(0, 0, 0, 0.3);
+    }
+    
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background: #60a5fa;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    
+    .timeline-line {
+      width: 2px;
+      background: rgba(96, 165, 250, 0.3);
+      position: absolute;
+      left: 0;
+      top: 18px;
+      bottom: 0;
+    }
+    
+    .table-container {
+      overflow-x: auto;
+    }
+    
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.875rem;
+      }
+    }
+    
+    .particle-bg {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+  </style>
+</head>
+<body class="text-gray-100">
+  <!-- Particle Background -->
+  <div id="particles-js" class="particle-bg"></div>
+  
+  <!-- Main Container -->
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- Header Section -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">2025智能眼镜浪潮</h1>
+      <p class="text-xl text-gray-300">从"小众极客"向"大众消费"跨越的元年</p>
+    </div>
+    
+    <!-- Concept Event Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-calendar-alt text-blue-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">概念事件</h2>
+      </div>
+      
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-blue-300">背景</h3>
+          <p class="text-gray-300 mb-4">
+            2024年12月起，Meta Ray-Ban AI眼镜全球销量突破<strong class="text-blue-400">220万台</strong>（占2024年全球AI眼镜销量的<strong class="text-blue-400">94%</strong>），验证C端需求；国内小米、华为、百度、雷鸟等品牌密集发布新品，2025年预计推出<strong class="text-blue-400">10+款AI眼镜</strong>。
+          </p>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-blue-300">催化时间轴</h3>
+          <div class="relative pl-6">
+            <div class="timeline-line"></div>
+            <div class="relative mb-4">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-blue-400">2024Q4</p>
+                <p class="text-sm text-gray-400">Meta应用下载量暴涨200%，华为/小米/百度等官宣2025年产品计划</p>
+              </div>
+            </div>
+            <div class="relative mb-4">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-blue-400">2025Q1</p>
+                <p class="text-sm text-gray-400">CES 2025展示雷鸟V3、联想Legion Glasses 2等新品</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-blue-400">2025Q2-Q3</p>
+                <p class="text-sm text-gray-400">小米AI眼镜量产、Meta Oakley运动版发布</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Core Viewpoints Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-lightbulb text-yellow-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">核心观点摘要</h2>
+      </div>
+      
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="bg-gradient-to-br from-blue-900/30 to-purple-900/30 rounded-xl p-4">
+          <h3 class="text-lg font-semibold mb-2 text-blue-300">阶段判断</h3>
+          <p class="text-sm text-gray-300">
+            2025年是AI眼镜从"小众极客"向"大众消费"跨越的<strong class="text-yellow-400">元年</strong>，技术（轻量化+AI大模型）与供应链（成本下降50%+）已具备放量条件。
+          </p>
+        </div>
+        
+        <div class="bg-gradient-to-br from-green-900/30 to-teal-900/30 rounded-xl p-4">
+          <h3 class="text-lg font-semibold mb-2 text-green-300">核心驱动力</h3>
+          <p class="text-sm text-gray-300">
+            <strong class="text-yellow-400">端侧AI刚需化</strong>（语音/视觉交互）+<strong class="text-yellow-400">传统眼镜渠道价值重估</strong>（验光配镜不可替代）+<strong class="text-yellow-400">巨头生态卡位</strong>（Meta/小米/华为）。
+          </p>
+        </div>
+        
+        <div class="bg-gradient-to-br from-purple-900/30 to-pink-900/30 rounded-xl p-4">
+          <h3 class="text-lg font-semibold mb-2 text-purple-300">未来潜力</h3>
+          <p class="text-sm text-gray-300">
+            2035年全球渗透率或达<strong class="text-yellow-400">70%</strong>（国君预测），市场规模对标智能手机（年销量<strong class="text-yellow-400">14亿副</strong>）。
+          </p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Core Logic Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-brain text-purple-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">核心逻辑与市场认知分析</h2>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">核心驱动力</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-gray-800/50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-microchip text-blue-400 mr-2"></i>
+              <h4 class="font-semibold">技术突破</h4>
+            </div>
+            <ul class="text-sm text-gray-300 space-y-1">
+              <li>• 高通AR1+芯片功耗降低7%</li>
+              <li>• 光波导量产良率提升至<strong class="text-blue-400">75%</strong></li>
+              <li>• 重量降至<strong class="text-blue-400">40g以下</strong></li>
+            </ul>
+          </div>
+          
+          <div class="bg-gray-800/50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-dollar-sign text-green-400 mr-2"></i>
+              <h4 class="font-semibold">成本拐点</h4>
+            </div>
+            <ul class="text-sm text-gray-300 space-y-1">
+              <li>• 国产SoC替代高通方案</li>
+              <li>• BOM成本从<strong class="text-green-400">1200元降至600元</strong></li>
+              <li>• 终端价下探至<strong class="text-green-400">999元</strong></li>
+            </ul>
+          </div>
+          
+          <div class="bg-gray-800/50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-users text-yellow-400 mr-2"></i>
+              <h4 class="font-semibold">场景刚需</h4>
+            </div>
+            <ul class="text-sm text-gray-300 space-y-1">
+              <li>• AI实时翻译（21种语言）</li>
+              <li>• 运动拍摄（Meta Oakley）</li>
+              <li>• 近视矫正（博士眼镜渠道）</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">市场热度</h3>
+          <p class="text-gray-300 mb-3">
+            2024年12月至今，<strong class="text-yellow-400">博士眼镜/明月镜片/康耐特光学</strong>涨幅超50%，但机构对出货量预测分歧大（<strong class="text-yellow-400">200万 vs 550万</strong>）。
+          </p>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">预期差</h3>
+          <div class="space-y-2">
+            <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-3">
+              <p class="font-semibold text-red-400">被高估</p>
+              <p class="text-sm text-gray-300">市场过度关注"AR显示"，实际<strong class="text-red-400">AI拍摄眼镜</strong>（无屏幕）才是短期主流（Meta销量占比96%）。</p>
+            </div>
+            <div class="bg-green-900/20 border border-green-800/50 rounded-lg p-3">
+              <p class="font-semibold text-green-400">被低估</p>
+              <p class="text-sm text-gray-300">传统眼镜渠道（博士眼镜500+门店）的<strong class="text-green-400">验配服务</strong>是产业链护城河，而非单纯硬件制造。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Catalysts Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-rocket text-orange-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">关键催化剂与未来发展路径</h2>
+      </div>
+      
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-orange-300">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-orange-500 rounded-full w-6 h-6 flex items-center justify-center text-xs font-bold mr-3 mt-0.5">1</div>
+              <div>
+                <p class="font-semibold text-orange-400">2025年4月</p>
+                <p class="text-sm text-gray-300">小米AI眼镜发布（对标Meta，价格或低于2000元）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-orange-500 rounded-full w-6 h-6 flex items-center justify-center text-xs font-bold mr-3 mt-0.5">2</div>
+              <div>
+                <p class="font-semibold text-orange-400">2025年6月</p>
+                <p class="text-sm text-gray-300">Meta Oakley运动版上市（骑行场景渗透10亿用户）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-orange-500 rounded-full w-6 h-6 flex items-center justify-center text-xs font-bold mr-3 mt-0.5">3</div>
+              <div>
+                <p class="font-semibold text-orange-400">政策端</p>
+                <p class="text-sm text-gray-300">中国信通院AI眼镜入网标准落地，推动强制性安全规范</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-orange-300">长期路径</h3>
+          <div class="space-y-3">
+            <div class="bg-gradient-to-r from-blue-900/30 to-purple-900/30 rounded-lg p-3">
+              <p class="font-semibold text-blue-400">2025-2026</p>
+              <p class="text-sm text-gray-300">AI眼镜销量从<strong class="text-blue-400">500万→1000万台</strong>，功能聚焦"AI+拍摄"</p>
+            </div>
+            <div class="bg-gradient-to-r from-purple-900/30 to-pink-900/30 rounded-lg p-3">
+              <p class="font-semibold text-purple-400">2027-2029</p>
+              <p class="text-sm text-gray-300">AR+AI融合（光波导成本降至50美元），苹果入局推动生态统一</p>
+            </div>
+            <div class="bg-gradient-to-r from-pink-900/30 to-red-900/30 rounded-lg p-3">
+              <p class="font-semibold text-pink-400">2030+</p>
+              <p class="text-sm text-gray-300">替代50%传统眼镜，年销量<strong class="text-pink-400">5亿副</strong>，镜片定制化溢价10倍</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Industry Chain Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-sitemap text-cyan-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">产业链与核心公司深度剖析</h2>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-cyan-300">产业链图谱</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-gradient-to-br from-blue-900/30 to-cyan-900/30 rounded-xl p-4">
+            <h4 class="font-semibold mb-2 text-blue-300">上游</h4>
+            <p class="text-sm text-gray-300">光学（水晶光电/蓝特光学）、芯片（恒玄科技/瑞芯微）、传感器（韦尔股份）</p>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/30 to-teal-900/30 rounded-xl p-4">
+            <h4 class="font-semibold mb-2 text-green-300">中游</h4>
+            <p class="text-sm text-gray-300">ODM（歌尔股份/天键股份）、镜片（明月镜片/康耐特光学）</p>
+          </div>
+          <div class="bg-gradient-to-br from-purple-900/30 to-pink-900/30 rounded-xl p-4">
+            <h4 class="font-semibold mb-2 text-purple-300">下游</h4>
+            <p class="text-sm text-gray-300">渠道（博士眼镜）、品牌（小米/华为/雷鸟）</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-cyan-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="text-left py-3 px-4 text-cyan-300">公司</th>
+                <th class="text-left py-3 px-4 text-cyan-300">角色</th>
+                <th class="text-left py-3 px-4 text-cyan-300">进展</th>
+                <th class="text-left py-3 px-4 text-cyan-300">风险</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 font-semibold text-blue-400">博士眼镜</td>
+                <td class="py-3 px-4">渠道龙头</td>
+                <td class="py-3 px-4">与雷鸟/华为合作，500家门店提供验配服务，<strong class="text-green-400">单店利润翻倍</strong></td>
+                <td class="py-3 px-4">过度依赖品牌方订单</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 font-semibold text-blue-400">明月镜片</td>
+                <td class="py-3 px-4">镜片技术</td>
+                <td class="py-3 px-4">与小米合作3P产品，1.74折射率镜片量产，<strong class="text-green-400">单价提升3倍</strong></td>
+                <td class="py-3 px-4">传统镜片业务拖累估值</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 font-semibold text-blue-400">恒玄科技</td>
+                <td class="py-3 px-4">芯片替代</td>
+                <td class="py-3 px-4">BES2700系列切入小米供应链，<strong class="text-green-400">功耗降低30%</strong>，替代高通</td>
+                <td class="py-3 px-4">技术迭代不及高通</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-blue-400">歌尔股份</td>
+                <td class="py-3 px-4">ODM龙头</td>
+                <td class="py-3 px-4">代工Meta/小米，<strong class="text-green-400">2025年产能翻倍</strong>，但毛利率仅10%</td>
+                <td class="py-3 px-4">价格战压缩利润</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Risks Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-exclamation-triangle text-red-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">潜在风险与挑战</h2>
+      </div>
+      
+      <div class="grid md:grid-cols-2 gap-4">
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-microchip text-red-400 mr-2"></i>
+            <h3 class="font-semibold text-red-400">技术风险</h3>
+          </div>
+          <p class="text-sm text-gray-300">光波导量产良率仍低于<strong class="text-red-400">50%</strong>（广发轻工），MicroLED成本超100美元。</p>
+        </div>
+        
+        <div class="bg-orange-900/20 border border-orange-800/50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-shopping-cart text-orange-400 mr-2"></i>
+            <h3 class="font-semibold text-orange-400">商业化风险</h3>
+          </div>
+          <p class="text-sm text-gray-300">消费者换机周期<strong class="text-orange-400">2年</strong>（快于传统眼镜），但<strong class="text-orange-400">续航<7小时</strong>限制使用场景。</p>
+        </div>
+        
+        <div class="bg-yellow-900/20 border border-yellow-800/50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-gavel text-yellow-400 mr-2"></i>
+            <h3 class="font-semibold text-yellow-400">政策风险</h3>
+          </div>
+          <p class="text-sm text-gray-300">摄像头隐私争议（Meta在欧盟被调查），中国或强制要求<strong class="text-yellow-400">数据本地化</strong>。</p>
+        </div>
+        
+        <div class="bg-purple-900/20 border border-purple-800/50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-chart-line text-purple-400 mr-2"></i>
+            <h3 class="font-semibold text-purple-400">信息矛盾</h3>
+          </div>
+          <p class="text-sm text-gray-300">IDC预测中国2025年销量<strong class="text-purple-400">280万台</strong>，但部分渠道反馈"库存积压"（需跟踪Q2出货数据）。</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- Conclusion Section -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-trophy text-yellow-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">综合结论与投资启示</h2>
+      </div>
+      
+      <div class="mb-6">
+        <div class="bg-gradient-to-r from-yellow-900/30 to-orange-900/30 rounded-xl p-4 mb-4">
+          <h3 class="text-lg font-semibold mb-2 text-yellow-300">阶段判断</h3>
+          <p class="text-gray-300">处于<strong class="text-yellow-400">主题炒作向基本面过渡</strong>阶段，2025年Q2销量数据是分水岭。</p>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-yellow-300">投资方向</h3>
+        <div class="space-y-3">
+          <div class="bg-gradient-to-r from-green-900/30 to-teal-900/30 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <span class="bg-green-500 text-white text-xs px-2 py-1 rounded mr-2">最确定</span>
+              <h4 class="font-semibold text-green-400">博士眼镜</h4>
+            </div>
+            <p class="text-sm text-gray-300">渠道垄断+验配刚需，目标市值看<strong class="text-green-400">200亿</strong>（当前100亿，PS 5x）</p>
+          </div>
+          
+          <div class="bg-gradient-to-r from-blue-900/30 to-cyan-900/30 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <span class="bg-blue-500 text-white text-xs px-2 py-1 rounded mr-2">弹性最大</span>
+              <h4 class="font-semibold text-blue-400">恒玄科技</h4>
+            </div>
+            <p class="text-sm text-gray-300">国产芯片替代，2025年AI眼镜SoC出货量或达<strong class="text-blue-400">500万颗</strong>（占营收30%）</p>
+          </div>
+          
+          <div class="bg-gradient-to-r from-purple-900/30 to-pink-900/30 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <span class="bg-purple-500 text-white text-xs px-2 py-1 rounded mr-2">长期价值</span>
+              <h4 class="font-semibold text-purple-400">明月镜片</h4>
+            </div>
+            <p class="text-sm text-gray-300">定制化镜片溢价，AR光波导镜片单价或达<strong class="text-purple-400">2000元/副</strong></p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-yellow-300">跟踪指标</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-gray-800/50 rounded-lg p-3">
+            <p class="font-semibold text-blue-400">Meta 2025Q2出货量</p>
+            <p class="text-sm text-gray-400">验证500万目标</p>
+          </div>
+          <div class="bg-gray-800/50 rounded-lg p-3">
+            <p class="font-semibold text-green-400">小米AI眼镜首销数据</p>
+            <p class="text-sm text-gray-400">天猫/京东预售量</p>
+          </div>
+          <div class="bg-gray-800/50 rounded-lg p-3">
+            <p class="font-semibold text-purple-400">博士眼镜智能眼镜收入占比</p>
+            <p class="text-sm text-gray-400">2024年<5%，2025年目标20%</p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6 bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+        <p class="text-red-400 font-semibold mb-1">风险提示</p>
+        <p class="text-sm text-gray-300">若2025年全球销量低于<strong class="text-red-400">300万台</strong>，产业链估值将面临系统性回调。</p>
+      </div>
+    </div>
+    
+    <!-- Stock Data Section -->
+    <div class="glass-effect rounded-2xl p-6 card-hover">
+      <div class="flex items-center mb-4">
+        <i class="fas fa-chart-line text-green-400 text-2xl mr-3"></i>
+        <h2 class="text-2xl font-bold">关联股票数据</h2>
+      </div>
+      
+      <div class="space-y-6">
+        <!-- 小米眼镜 -->
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-green-300">小米眼镜(250625)</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-2 px-3 text-green-300">股票名称</th>
+                  <th class="text-left py-2 px-3 text-green-300">分类</th>
+                  <th class="text-left py-2 px-3 text-green-300">业务相关</th>
+                  <th class="text-left py-2 px-3 text-green-300">消息来源</th>
+                  <th class="text-left py-2 px-3 text-green-300">关联原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">商络电子</td>
+                  <td class="py-2 px-3">明确相关</td>
+                  <td class="py-2 px-3">公司为小米智能眼镜间接供应被动器件和射频器件等产品</td>
+                  <td class="py-2 px-3">互动</td>
+                  <td class="py-2 px-3">为小米智能眼镜提供被动器件和射频器件</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">博士眼镜</td>
+                  <td class="py-2 px-3">明确相关</td>
+                  <td class="py-2 px-3">2025年合作智能眼镜品牌小米mijia（销售渠道）</td>
+                  <td class="py-2 px-3">公告</td>
+                  <td class="py-2 px-3">合作小米mijia智能眼镜品牌</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">明月镜片</td>
+                  <td class="py-2 px-3">明确相关</td>
+                  <td class="py-2 px-3">公司在智能眼镜方面充分布局，和小米在进行初步接触沟通</td>
+                  <td class="py-2 px-3">调研</td>
+                  <td class="py-2 px-3">与小米在智能眼镜领域初步接触</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">歌尔股份</td>
+                  <td class="py-2 px-3">潜在代工</td>
+                  <td class="py-2 px-3">网传公司代工小米眼镜，公司互动表示基于保密原则不便评论</td>
+                  <td class="py-2 px-3">网传/互动</td>
+                  <td class="py-2 px-3">网传代工小米眼镜但未明确证实</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">恒玄科技</td>
+                  <td class="py-2 px-3">芯片</td>
+                  <td class="py-2 px-3">客户小米，公司主营低功耗无线计算SoC芯片</td>
+                  <td class="py-2 px-3">年报</td>
+                  <td class="py-2 px-3">供应低功耗无线计算SoC芯片</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 智能眼镜 -->
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-blue-300">智能眼镜（250206）</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-2 px-3 text-blue-300">股票名称</th>
+                  <th class="text-left py-2 px-3 text-blue-300">分类</th>
+                  <th class="text-left py-2 px-3 text-blue-300">细分</th>
+                  <th class="text-left py-2 px-3 text-blue-300">关联原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">博士眼镜</td>
+                  <td class="py-2 px-3">渠道</td>
+                  <td class="py-2 px-3">渠道</td>
+                  <td class="py-2 px-3">属于智能眼镜销售渠道供应链公司</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">水晶光电</td>
+                  <td class="py-2 px-3">光学</td>
+                  <td class="py-2 px-3">BirdBath光学结构</td>
+                  <td class="py-2 px-3">属于智能眼镜BirdBath光学结构供应链公司</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">恒玄科技</td>
+                  <td class="py-2 px-3">芯片</td>
+                  <td class="py-2 px-3">SoC</td>
+                  <td class="py-2 px-3">属于智能眼镜SoC芯片供应链公司</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">歌尔股份</td>
+                  <td class="py-2 px-3">ODM（代工）</td>
+                  <td class="py-2 px-3">ODM（代工）</td>
+                  <td class="py-2 px-3">属于智能眼镜ODM代工供应链公司</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 阿里夸克AI眼镜 -->
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">阿里夸克AI眼镜(250727)</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-2 px-3 text-purple-300">股票名称</th>
+                  <th class="text-left py-2 px-3 text-purple-300">项目</th>
+                  <th class="text-left py-2 px-3 text-purple-300">技术/合作</th>
+                  <th class="text-left py-2 px-3 text-purple-300">关联原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">佳禾智能</td>
+                  <td class="py-2 px-3">生产消费级AR产品</td>
+                  <td class="py-2 px-3">天猫精灵骨传导智能眼镜</td>
+                  <td class="py-2 px-3">公司为影目、仙瞬等品牌生产消费级AR产品，并在2024年8月表示有生产天猫精灵骨传导智能眼镜</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">恒玄科技</td>
+                  <td class="py-2 px-3">小米AI眼镜芯片</td>
+                  <td class="py-2 px-3">BES2800芯片搭载阿里眼镜</td>
+                  <td class="py-2 px-3">小米AI眼镜采用其2700系列芯片，BES2800芯片已搭载于阿里眼镜并支持语音待机</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                  <td class="py-2 px-3 font-medium">博士眼镜</td>
+                  <td class="py-2 px-3">智能眼镜验配</td>
+                  <td class="py-2 px-3">覆盖70%主流品牌</td>
+                  <td class="py-2 px-3">与星纪魅族、雷鸟创新等品牌合作，覆盖70%主流品牌智能眼镜线下验配服务</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <!-- Scripts -->
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // Initialize particles
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#60a5fa"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#60a5fa",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/3D打印.html

@@ -0,0 +1,663 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>3D打印行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" />
+  <!-- Chart.js -->
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <!-- Custom CSS -->
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #f5f7fa 0%, #e4e9f2 100%);
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 30px rgba(0, 0, 0, 0.1);
+    }
+    .timeline-dot {
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background-color: #667eea;
+      position: absolute;
+      left: -8px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 22px;
+      bottom: -22px;
+      width: 2px;
+      background-color: #e2e8f0;
+    }
+    .timeline-item:last-child .timeline-line {
+      display: none;
+    }
+    .table-responsive {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .timeline-item {
+        padding-left: 20px;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- Header Section -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">3D打印行业洞察报告</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">从军工主导的小众市场到消费电子+工业级应用的基本面驱动阶段，2025年或为渗透率拐点</p>
+    </div>
+
+    <!-- Key Stats -->
+    <div class="grid grid-cols-1 md:grid-cols-3 gap-6 mb-12">
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <div class="flex items-center">
+          <div class="p-3 rounded-lg bg-purple-100 text-purple-600 mr-4">
+            <i class="fas fa-chart-line text-2xl"></i>
+          </div>
+          <div>
+            <p class="text-gray-500 text-sm">钛合金成本降幅</p>
+            <p class="text-2xl font-bold text-gray-800">90%</p>
+            <p class="text-xs text-gray-500">较2018年</p>
+          </div>
+        </div>
+      </div>
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <div class="flex items-center">
+          <div class="p-3 rounded-lg bg-blue-100 text-blue-600 mr-4">
+            <i class="fas fa-cogs text-2xl"></i>
+          </div>
+          <div>
+            <p class="text-gray-500 text-sm">设备效率提升</p>
+            <p class="text-2xl font-bold text-gray-800">10倍</p>
+            <p class="text-xs text-gray-500">多激光头技术</p>
+          </div>
+        </div>
+      </div>
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <div class="flex items-center">
+          <div class="p-3 rounded-lg bg-green-100 text-green-600 mr-4">
+            <i class="fas fa-industry text-2xl"></i>
+          </div>
+          <div>
+            <p class="text-gray-500 text-sm">鞋模行业年增速</p>
+            <p class="text-2xl font-bold text-gray-800">50%</p>
+            <p class="text-xs text-gray-500">中科丰阳2024年产值6500万元</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- Timeline Section -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">概念事件时间轴</h2>
+      <div class="relative pl-8">
+        <div class="timeline-item relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h3 class="font-bold text-purple-700">2023年7月</h3>
+            <p class="text-gray-700">荣耀Magic V2折叠屏手机首次采用钛合金3D打印铰链，验证消费电子规模化应用可行性。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h3 class="font-bold text-blue-700">2024年12月</h3>
+            <p class="text-gray-700">苹果招聘金属3D打印专家，OPPO Find N5确认采用3D打印钛合金铰链，消费电子渗透率加速。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-green-50 rounded-lg p-4">
+            <h3 class="font-bold text-green-700">2025年2月</h3>
+            <p class="text-gray-700">中信证券路演明确"2025年为3C批量化元年"，钛合金成本降至250-300元/kg（较2018年降幅90%），设备效率提升10倍（多激光头技术）。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative">
+          <div class="timeline-dot"></div>
+          <div class="bg-yellow-50 rounded-lg p-4">
+            <h3 class="font-bold text-yellow-700">2025年7月</h3>
+            <p class="text-gray-700">思看科技推出2000美元消费级3D扫描仪，降低C端建模门槛，与拓竹3D打印机协同放量北美市场。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- Core Viewpoints -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">核心观点摘要</h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="bg-gradient-to-r from-purple-50 to-indigo-50 rounded-lg p-5">
+          <h3 class="font-bold text-lg text-purple-800 mb-3">阶段判断</h3>
+          <p class="text-gray-700">3D打印正从<strong class="text-purple-700">军工主导的小众市场</strong>转向<strong class="text-purple-700">消费电子+工业级应用</strong>的<strong class="text-purple-700">基本面驱动阶段</strong>，2025年或为<strong class="text-purple-700">渗透率拐点</strong>。</p>
+        </div>
+        <div class="bg-gradient-to-r from-blue-50 to-cyan-50 rounded-lg p-5">
+          <h3 class="font-bold text-lg text-blue-800 mb-3">核心驱动力</h3>
+          <p class="text-gray-700"><strong class="text-blue-700">成本下降（材料-90%、设备-70%）</strong>+<strong class="text-blue-700">效率提升（多激光头技术）</strong>推动消费电子（铰链、中框）和鞋模等民用场景规模化落地。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- Core Logic & Market Analysis -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">核心逻辑与市场认知分析</h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">核心驱动力</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-microchip text-purple-600 mr-2"></i>
+              <h4 class="font-bold text-gray-700">技术成熟</h4>
+            </div>
+            <p class="text-sm text-gray-600">SLM工艺良率已达99%，钛合金铰链厚度突破<strong>0.15mm</strong>（OPPO Find N5案例）。</p>
+          </div>
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-coins text-blue-600 mr-2"></i>
+              <h4 class="font-bold text-gray-700">成本临界点</h4>
+            </div>
+            <p class="text-sm text-gray-600">2025年钛合金3D打印综合成本<strong>1.5-1.6元/g</strong>，低于CNC加工但优势在<strong>良率（80% vs 20-30%）</strong>和复杂结构。</p>
+          </div>
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-center mb-2">
+              <i class="fas fa-handshake text-green-600 mr-2"></i>
+              <h4 class="font-bold text-gray-700">政策与需求共振</h4>
+            </div>
+            <p class="text-sm text-gray-600">军工"十四五"收官订单+消费电子品牌（苹果/OPPO）技术验证完成。</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">市场热度与情绪</h3>
+        <div class="bg-blue-50 rounded-lg p-4">
+          <div class="flex flex-col md:flex-row md:items-center">
+            <div class="mb-4 md:mb-0 md:w-1/2">
+              <div class="flex items-center mb-2">
+                <i class="fas fa-chart-bar text-blue-600 mr-2"></i>
+                <h4 class="font-bold text-gray-700">研报密集度</h4>
+              </div>
+              <p class="text-sm text-gray-600">2024Q4-2025Q2共发布<strong>12篇深度报告</strong>（广发、中信证券等），聚焦消费电子和鞋模。</p>
+            </div>
+            <div class="md:w-1/2 md:pl-4">
+              <div class="flex items-center mb-2">
+                <i class="fas fa-balance-scale text-blue-600 mr-2"></i>
+                <h4 class="font-bold text-gray-700">情绪分化</h4>
+              </div>
+              <p class="text-sm text-gray-600">机构乐观（2025年3C市场空间<strong>30-40亿元</strong>），但产业专家提示<strong>"仍需2-3年培育期"</strong>（华安金属路演）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">预期差</h3>
+        <div class="bg-yellow-50 rounded-lg p-4">
+          <div class="mb-3">
+            <h4 class="font-bold text-gray-700 mb-2">被忽略的关键点</h4>
+          </div>
+          <ul class="list-disc pl-5 text-sm text-gray-600 space-y-2">
+            <li><strong>后处理瓶颈</strong>：3D打印件仍需<strong>研磨抛光</strong>（占成本30%），金太阳等后处理公司或成隐藏赢家。</li>
+            <li><strong>材料国产化</strong>：钛合金粉末国产化率已超60%，但<strong>高端牌号（如医用级）仍依赖进口</strong>（中航迈特数据）。</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- Catalysts & Future Path -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">关键催化剂与未来发展路径</h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">近期催化剂（3-6个月）</h3>
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="flex-shrink-0 mt-1">
+              <div class="w-8 h-8 rounded-full bg-purple-100 flex items-center justify-center">
+                <span class="text-purple-700 font-bold">1</span>
+              </div>
+            </div>
+            <div class="ml-4">
+              <h4 class="font-bold text-gray-700">OPPO Find N5量产</h4>
+              <p class="text-sm text-gray-600">2025年Q2铰链订单落地，单机价值量<strong>10-200元</strong>（铂力特主供）。</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="flex-shrink-0 mt-1">
+              <div class="w-8 h-8 rounded-full bg-blue-100 flex items-center justify-center">
+                <span class="text-blue-700 font-bold">2</span>
+              </div>
+            </div>
+            <div class="ml-4">
+              <h4 class="font-bold text-gray-700">苹果3D打印中框测试</h4>
+              <p class="text-sm text-gray-600">iPhone 17或采用3D打印钛合金中框，5家供应商（精研科技等）送样。</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="flex-shrink-0 mt-1">
+              <div class="w-8 h-8 rounded-full bg-green-100 flex items-center justify-center">
+                <span class="text-green-700 font-bold">3</span>
+              </div>
+            </div>
+            <div class="ml-4">
+              <h4 class="font-bold text-gray-700">军工订单确认</h4>
+              <p class="text-sm text-gray-600">2025年Q1航空航天订单或<strong>同比增长50%+</strong>（中信证券调研）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">长期路径</h3>
+        <div class="bg-gradient-to-r from-indigo-50 to-purple-50 rounded-lg p-5">
+          <div class="flex flex-col md:flex-row">
+            <div class="mb-4 md:mb-0 md:w-1/2 md:pr-4">
+              <h4 class="font-bold text-indigo-700 mb-2">2025-2027年</h4>
+              <p class="text-gray-700">消费电子（铰链/中框）+鞋模双轮驱动，市场规模<strong>百亿级</strong>。</p>
+            </div>
+            <div class="md:w-1/2 md:pl-4">
+              <h4 class="font-bold text-purple-700 mb-2">2028年后</h4>
+              <p class="text-gray-700">机器人（PEEK材料关节）、飞行汽车（碳纤维结构件）打开<strong>千亿级</strong>空间。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- Industry Chain & Core Companies -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">产业链与核心公司深度剖析</h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">产业链图谱</h3>
+        <div class="bg-gray-50 rounded-lg p-5">
+          <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+            <div class="bg-white rounded-lg p-4 shadow-sm">
+              <h4 class="font-bold text-purple-700 mb-3">上游</h4>
+              <ul class="space-y-2 text-sm text-gray-600">
+                <li><span class="font-medium">钛合金粉末</span>：<strong class="text-purple-600">中航迈特</strong></li>
+                <li><span class="font-medium">激光器</span>：<strong class="text-purple-600">锐科激光</strong></li>
+                <li><span class="font-medium">振镜</span>：<strong class="text-purple-600">金橙子</strong></li>
+              </ul>
+            </div>
+            <div class="bg-white rounded-lg p-4 shadow-sm">
+              <h4 class="font-bold text-blue-700 mb-3">中游</h4>
+              <ul class="space-y-2 text-sm text-gray-600">
+                <li><span class="font-medium">设备</span>：<strong class="text-blue-600">铂力特</strong>-金属SLM龙头</li>
+                <li><span class="font-medium">设备</span>：<strong class="text-blue-600">华曙高科</strong>-多激光头技术</li>
+              </ul>
+            </div>
+            <div class="bg-white rounded-lg p-4 shadow-sm">
+              <h4 class="font-bold text-green-700 mb-3">下游</h4>
+              <ul class="space-y-2 text-sm text-gray-600">
+                <li><span class="font-medium">消费电子</span>：OPPO/苹果</li>
+                <li><span class="font-medium">鞋模</span>：中科丰阳</li>
+                <li><span class="font-medium">军工</span>：成飞</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">核心玩家对比</h3>
+        <div class="table-responsive">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-100">
+              <tr>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">公司</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">业务重心</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">技术优势</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险点</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-200">
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-900">铂力特</td>
+                <td class="py-3 px-4 text-sm text-gray-500">军工+消费电子</td>
+                <td class="py-3 px-4 text-sm text-gray-500">全球最大SLM设备（1.5米幅面）</td>
+                <td class="py-3 px-4 text-sm text-gray-500">军工订单延迟（2024年基数低）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-900">华曙高科</td>
+                <td class="py-3 px-4 text-sm text-gray-500">民用+鞋模</td>
+                <td class="py-3 px-4 text-sm text-gray-500">16激光头设备效率领先</td>
+                <td class="py-3 px-4 text-sm text-gray-500">消费级市场竞争加剧</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-900">金橙子</td>
+                <td class="py-3 px-4 text-sm text-gray-500">振镜控制系统</td>
+                <td class="py-3 px-4 text-sm text-gray-500">国产替代（市占率32%）</td>
+                <td class="py-3 px-4 text-sm text-gray-500">高端振镜仍依赖进口</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">验证与证伪</h3>
+        <div class="bg-yellow-50 rounded-lg p-4">
+          <div class="mb-3">
+            <h4 class="font-bold text-gray-700 mb-2">数据印证</h4>
+            <p class="text-sm text-gray-600">铂力特2024年钛合金粉末出货量<strong>同比+40%</strong>（路演数据），但<strong>消费电子收入占比仅15%</strong>（低于研报预期的30%）。</p>
+          </div>
+          <div>
+            <h4 class="font-bold text-gray-700 mb-2">矛盾点</h4>
+            <p class="text-sm text-gray-600">华安金属专家提示"3D打印鞋模需<strong>3年培育期</strong>"，但中科丰阳2024年已扩产至100台设备，<strong>实际进度快于预期</strong>。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- Risks & Challenges -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">潜在风险与挑战</h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="bg-red-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-exclamation-triangle text-red-600 mr-2"></i>
+            <h3 class="font-bold text-lg text-red-700">技术风险</h3>
+          </div>
+          <p class="text-sm text-gray-600">多激光头设备<strong>热变形控制</strong>未完全解决（32头设备良率仅90%）。</p>
+        </div>
+        <div class="bg-orange-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-shopping-cart text-orange-600 mr-2"></i>
+            <h3 class="font-bold text-lg text-orange-700">商业化风险</h3>
+          </div>
+          <p class="text-sm text-gray-600">消费电子<strong>渗透率假设过于乐观</strong>（研报假设20%渗透率，实际苹果中框测试良率仅65%）。</p>
+        </div>
+        <div class="bg-yellow-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-landmark text-yellow-600 mr-2"></i>
+            <h3 class="font-bold text-lg text-yellow-700">政策风险</h3>
+          </div>
+          <p class="text-sm text-gray-600">军工订单可能受<strong>国防预算调整</strong>影响（2025年预算增速或低于预期）。</p>
+        </div>
+        <div class="bg-purple-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-balance-scale text-purple-600 mr-2"></i>
+            <h3 class="font-bold text-lg text-purple-700">信息矛盾</h3>
+          </div>
+          <p class="text-sm text-gray-600">中信证券称"2025年订单超历史峰值"，但广发军工路演提示"<strong>航空航天客户节奏延迟</strong>"。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- Conclusion & Investment Insights -->
+    <div class="bg-white rounded-xl p-6 mb-12 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">综合结论与投资启示</h2>
+      
+      <div class="mb-8">
+        <div class="bg-gradient-to-r from-indigo-500 to-purple-600 rounded-lg p-5 text-white">
+          <h3 class="font-bold text-xl mb-3">阶段判断</h3>
+          <p><strong class="text-yellow-300">基本面驱动初期</strong>，消费电子和鞋模的规模化落地验证技术经济性，军工订单提供业绩安全垫。</p>
+        </div>
+      </div>
+
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">投资方向</h3>
+        <div class="space-y-4">
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-start">
+              <div class="flex-shrink-0 mt-1">
+                <div class="w-8 h-8 rounded-full bg-purple-100 flex items-center justify-center">
+                  <span class="text-purple-700 font-bold">1</span>
+                </div>
+              </div>
+              <div class="ml-4">
+                <h4 class="font-bold text-gray-700">设备龙头</h4>
+                <p class="text-sm text-gray-600"><strong class="text-purple-600">铂力特</strong>（军工订单+消费电子弹性）、<strong class="text-purple-600">华曙高科</strong>（多激光头技术领先）。</p>
+              </div>
+            </div>
+          </div>
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-start">
+              <div class="flex-shrink-0 mt-1">
+                <div class="w-8 h-8 rounded-full bg-blue-100 flex items-center justify-center">
+                  <span class="text-blue-700 font-bold">2</span>
+                </div>
+              </div>
+              <div class="ml-4">
+                <h4 class="font-bold text-gray-700">材料替代</h4>
+                <p class="text-sm text-gray-600"><strong class="text-blue-600">中航迈特</strong>（钛合金粉末国产化）、<strong class="text-blue-600">金橙子</strong>（振镜国产替代）。</p>
+              </div>
+            </div>
+          </div>
+          <div class="bg-gray-50 rounded-lg p-4">
+            <div class="flex items-start">
+              <div class="flex-shrink-0 mt-1">
+                <div class="w-8 h-8 rounded-full bg-green-100 flex items-center justify-center">
+                  <span class="text-green-700 font-bold">3</span>
+                </div>
+              </div>
+              <div class="ml-4">
+                <h4 class="font-bold text-gray-700">后处理环节</h4>
+                <p class="text-sm text-gray-600"><strong class="text-green-600">金太阳</strong>（3D打印后处理需求爆发）。</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-4">跟踪指标</h3>
+        <div class="bg-blue-50 rounded-lg p-4">
+          <div class="flex flex-col md:flex-row">
+            <div class="mb-4 md:mb-0 md:w-1/2 md:pr-4">
+              <h4 class="font-bold text-blue-700 mb-2">消费电子订单</h4>
+              <p class="text-sm text-gray-600">OPPO/苹果2025年Q2铰链出货量（目标<strong>千万级</strong>）。</p>
+            </div>
+            <div class="md:w-1/2 md:pl-4">
+              <h4 class="font-bold text-blue-700 mb-2">军工订单</h4>
+              <p class="text-sm text-gray-600">2025年Q1航空航天设备采购合同金额（需<strong>同比增长50%+</strong>）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- Related Stocks Table -->
+    <div class="bg-white rounded-xl p-6 card-shadow">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6">相关股票数据</h2>
+      <div class="table-responsive">
+        <table class="min-w-full bg-white rounded-lg overflow-hidden">
+          <thead class="bg-gray-100">
+            <tr>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">分类</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">项目/产品/技术</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">产业链</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">原因</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">消息来源</th>
+            </tr>
+          </thead>
+          <tbody class="divide-y divide-gray-200">
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">利安科技</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PCR和PLA环境友好型材料开发</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">正在新增PCR和PLA（聚乳酸）等环境友好型材料的开发</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">惠通科技</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">年产3.5万吨聚乳酸项目</td>
+              <td class="py-3 px-4 text-sm text-gray-500">生物降解材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">惠通生物年产3.5万吨聚乳酸项目2025年5月26日试生产</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">中仑新材</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">生物降解BOPLA薄膜</td>
+              <td class="py-3 px-4 text-sm text-gray-500">生物基可降解薄膜</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司生物降解BOPLA薄膜是以聚乳酸（PLA）为原材料制成的新型生物基可降解薄膜</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">家联科技</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">参与制定《聚乳酸》《双向拉伸聚乳酸薄膜》国家标准</td>
+              <td class="py-3 px-4 text-sm text-gray-500">聚乳酸材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司参与制订或修订了《聚乳酸》《双向拉伸聚乳酸薄膜》等国家标准和行业标准</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司公告</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">海正生材</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">聚乳酸材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">包装、3D打印</td>
+              <td class="py-3 px-4 text-sm text-gray-500">专注于聚乳酸材料的研发产销，主要应用于包装、3D打印等领域</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">聚石化学</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">与安徽丰原生物战略合作</td>
+              <td class="py-3 px-4 text-sm text-gray-500">聚乳酸生物基材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">2025年3月24日与安徽丰原生物达成战略合作，共创聚乳酸生物基材料新未来</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司官微</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">瑞丰高材</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">聚乳酸、丁二酸</td>
+              <td class="py-3 px-4 text-sm text-gray-500">生物降解材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">子公司瑞丰生物已完成一步法聚乳酸、丁二酸等产品的中试</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">金丹科技</td>
+              <td class="py-3 px-4 text-sm text-gray-500">PLA材料（聚乳酸）</td>
+              <td class="py-3 px-4 text-sm text-gray-500">年产7.5万吨聚乳酸生物降解新材料项目</td>
+              <td class="py-3 px-4 text-sm text-gray-500">生物降解材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">年产7.5万吨聚乳酸生物降解新材料项目达到预定可使用状态的时间延期至2026年6月</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司公告</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">兴业股份</td>
+              <td class="py-3 px-4 text-sm text-gray-500">其他材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">环保呋喃树脂</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印铸造</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印用环保呋喃树脂综合性能优越，实现了关键材料自主研发生产</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司公告</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">长江材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">其他材料</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印铸造砂型</td>
+              <td class="py-3 px-4 text-sm text-gray-500">新能源汽车、机器人零部件</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印铸造砂型用于铸件生产，在新能源汽车零件、机器人零部件方面都有销售</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">高乐股份</td>
+              <td class="py-3 px-4 text-sm text-gray-500">产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印业务</td>
+              <td class="py-3 px-4 text-sm text-gray-500">个性化定制</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印业务在开展中，已接有一些小批量的订制订单，业务并不适合大规模生产，更适合个性化的定制</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司调研</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">光韵达</td>
+              <td class="py-3 px-4 text-sm text-gray-500">产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印服务</td>
+              <td class="py-3 px-4 text-sm text-gray-500">航空制造</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印业务目前主要服务于航空制造，主要客户是成飞，与其他客户及科研单位也有少量合作</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">金太阳</td>
+              <td class="py-3 px-4 text-sm text-gray-500">产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印钛合金材质手机摄像头装饰件</td>
+              <td class="py-3 px-4 text-sm text-gray-500">新型精密研磨抛光</td>
+              <td class="py-3 px-4 text-sm text-gray-500">手机摄像头装饰件采用3D打印钛合金材质，将关注3D打印带来的新型精密研磨抛光需求</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司公告</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">冀凯股份</td>
+              <td class="py-3 px-4 text-sm text-gray-500">产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">大型宽幅全帧智能3D砂型打印技术</td>
+              <td class="py-3 px-4 text-sm text-gray-500">煤炭工业</td>
+              <td class="py-3 px-4 text-sm text-gray-500">2022年大型宽幅全帧智能3D砂型打印技术与装备获得中国煤炭工业科学技术奖一等奖</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">金橙子</td>
+              <td class="py-3 px-4 text-sm text-gray-500">技术设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印控制系统及振镜产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">3D打印设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">储备有3D打印控制系统及3D打印振镜产品</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">华曙高科</td>
+              <td class="py-3 px-4 text-sm text-gray-500">技术设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">高分子3D打印设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">尼龙类材料打印</td>
+              <td class="py-3 px-4 text-sm text-gray-500">高分子3D打印设备UM252P可打印多种尼龙类材料，可根据用户需求定制3D打印解决方案</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-900">爱司凯</td>
+              <td class="py-3 px-4 text-sm text-gray-500">技术设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">平面打印和3D打印</td>
+              <td class="py-3 px-4 text-sm text-gray-500">计算机直接制版机（CTP）、3D砂型打印设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">产品包括平面打印和3D打印，主导产品为计算机直接制版机（CTP）、3D砂型打印设备</td>
+              <td class="py-3 px-4 text-sm text-gray-500">公司互动</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // Add some interactivity for mobile responsiveness
+    document.addEventListener('DOMContentLoaded', function() {
+      // Simple animation for timeline items
+      const timelineItems = document.querySelectorAll('.timeline-item');
+      
+      const observer = new IntersectionObserver((entries) => {
+        entries.forEach(entry => {
+          if (entry.isIntersecting) {
+            entry.target.style.opacity = 1;
+            entry.target.style.transform = 'translateY(0)';
+          }
+        });
+      }, { threshold: 0.1 });
+      
+      timelineItems.forEach(item => {
+        item.style.opacity = 0;
+        item.style.transform = 'translateY(20px)';
+        item.style.transition = 'opacity 0.5s ease, transform 0.5s ease';
+        observer.observe(item);
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/5G毫米波.html

@@ -0,0 +1,796 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>5G毫米波概念深度解析</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #0d6efd;
+            --secondary-color: #6c757d;
+            --accent-color: #198754;
+            --light-bg: #f8f9fa;
+            --dark-text: #212529;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;
+            color: var(--dark-text);
+            background-color: #f5f7fa;
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, #0d6efd 0%, #0a58ca 100%);
+            color: white;
+            padding: 3rem 0;
+            margin-bottom: 2rem;
+        }
+        
+        .section-title {
+            position: relative;
+            padding-bottom: 0.75rem;
+            margin-bottom: 2rem;
+            font-weight: 600;
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 60px;
+            height: 4px;
+            background-color: var(--primary-color);
+        }
+        
+        .timeline {
+            position: relative;
+            padding-left: 30px;
+        }
+        
+        .timeline::before {
+            content: '';
+            position: absolute;
+            left: 8px;
+            top: 0;
+            height: 100%;
+            width: 2px;
+            background-color: #dee2e6;
+        }
+        
+        .timeline-item {
+            position: relative;
+            margin-bottom: 1.5rem;
+        }
+        
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            left: -30px;
+            top: 5px;
+            width: 16px;
+            height: 16px;
+            border-radius: 50%;
+            background-color: var(--primary-color);
+            border: 3px solid white;
+            box-shadow: 0 0 0 3px rgba(13, 110, 253, 0.25);
+        }
+        
+        .timeline-date {
+            font-weight: 600;
+            color: var(--primary-color);
+            margin-bottom: 0.25rem;
+        }
+        
+        .card {
+            border: none;
+            border-radius: 0.75rem;
+            box-shadow: 0 0.125rem 0.25rem rgba(0, 0, 0, 0.075);
+            transition: transform 0.2s, box-shadow 0.2s;
+            height: 100%;
+        }
+        
+        .card:hover {
+            transform: translateY(-3px);
+            box-shadow: 0 0.5rem 1rem rgba(0, 0, 0, 0.15);
+        }
+        
+        .card-header {
+            background-color: var(--light-bg);
+            border-bottom: 1px solid rgba(0, 0, 0, 0.125);
+            font-weight: 600;
+        }
+        
+        .badge-custom {
+            padding: 0.5em 0.75em;
+            font-weight: 500;
+        }
+        
+        .table-container {
+            overflow-x: visible;
+        }
+        
+        .table th {
+            background-color: var(--light-bg);
+            border-top: none;
+            font-weight: 600;
+            position: sticky;
+            top: 0;
+        }
+        
+        .table td {
+            vertical-align: middle;
+        }
+        
+        .highlight-box {
+            background-color: rgba(13, 110, 253, 0.1);
+            border-left: 4px solid var(--primary-color);
+            padding: 1rem;
+            margin: 1rem 0;
+            border-radius: 0.25rem;
+        }
+        
+        .category-pill {
+            display: inline-block;
+            padding: 0.25rem 0.75rem;
+            margin: 0.25rem;
+            border-radius: 1rem;
+            font-size: 0.875rem;
+            font-weight: 500;
+        }
+        
+        .category-天线 { background-color: rgba(13, 110, 253, 0.1); color: #0d6efd; }
+        .category-芯片 { background-color: rgba(25, 135, 84, 0.1); color: #198754; }
+        .category-基站 { background-color: rgba(220, 53, 69, 0.1); color: #dc3545; }
+        .category-高频PCB { background-color: rgba(255, 193, 7, 0.1); color: #fd7e14; }
+        .category-射频 { background-color: rgba(111, 66, 193, 0.1); color: #6f42c1; }
+        .category-模组 { background-color: rgba(32, 201, 151, 0.1); color: #20c997; }
+        .category-其他 { background-color: rgba(108, 117, 125, 0.1); color: #6c757d; }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .table-container {
+                font-size: 0.875rem;
+            }
+            
+            .category-pill {
+                font-size: 0.75rem;
+                padding: 0.125rem 0.5rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- Hero Section -->
+    <div class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-3">5G毫米波概念深度解析</h1>
+                    <p class="lead mb-0">探索5G通信技术的重要组成部分，分析产业链投资机会与风险挑战</p>
+                </div>
+                <div class="col-lg-4 text-lg-end mt-3 mt-lg-0">
+                    <div class="d-flex align-items-center justify-content-lg-end">
+                        <i class="bi bi-broadcast fs-1 me-3"></i>
+                        <div>
+                            <div class="fs-4 fw-bold">24GHz+</div>
+                            <div>高频段通信技术</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <div class="container mb-5">
+        <!-- 概念概述 -->
+        <section class="mb-5">
+            <h2 class="section-title">概念概述</h2>
+            <div class="row">
+                <div class="col-lg-8">
+                    <p>5G毫米波是5G通信技术的重要组成部分，指的是使用24GHz以上频段（通常为26GHz、28GHz、39GHz等）的5G技术。与sub-6GHz频段相比，毫米波频段具有带宽大、传输速率高、延迟低等优势，但同时也存在传输距离短、穿透能力差等挑战。</p>
+                    <div class="highlight-box">
+                        <p class="mb-0"><strong>核心优势：</strong>带宽大、传输速率高、延迟低<br>
+                        <strong>主要挑战：</strong>传输距离短、穿透能力差、成本高<br>
+                        <strong>应用领域：</strong>5G通信、自动驾驶、智能感知、固定无线接入(FWA)</p>
+                    </div>
+                </div>
+                <div class="col-lg-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <h5 class="card-title">技术特点对比</h5>
+                            <table class="table table-sm">
+                                <thead>
+                                    <tr>
+                                        <th>特性</th>
+                                        <th>毫米波</th>
+                                        <th>Sub-6GHz</th>
+                                    </tr>
+                                </thead>
+                                <tbody>
+                                    <tr>
+                                        <td>频段</td>
+                                        <td>24GHz+</td>
+                                        <td><6GHz</td>
+                                    </tr>
+                                    <tr>
+                                        <td>带宽</td>
+                                        <td>大</td>
+                                        <td>小</td>
+                                    </tr>
+                                    <tr>
+                                        <td>传输距离</td>
+                                        <td>短</td>
+                                        <td>长</td>
+                                    </tr>
+                                    <tr>
+                                        <td>穿透能力</td>
+                                        <td>差</td>
+                                        <td>好</td>
+                                    </tr>
+                                </tbody>
+                            </table>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 关键事件时间轴 -->
+        <section class="mb-5">
+            <h2 class="section-title">关键事件时间轴</h2>
+            <div class="row">
+                <div class="col-lg-6 mb-4">
+                    <h5 class="text-primary mb-3">2023年</h5>
+                    <div class="timeline">
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023-02-20</div>
+                            <div>中银通信组织"4D毫米波雷达产业趋势探讨"会议</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023-02-21</div>
+                            <div>特斯拉路演聚焦4D毫米波雷达技术特点与应用场景</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023-03-14</div>
+                            <div>BeammWave公司路演介绍5G毫米波数字波束成形技术</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023-08-18</div>
+                            <div>浙商证券4D毫米波雷达路演，分析市场进展与主要厂商</div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-lg-6 mb-4">
+                    <h5 class="text-primary mb-3">2024-2025年</h5>
+                    <div class="timeline">
+                        <div class="timeline-item">
+                            <div class="timeline-date">2024-09-06</div>
+                            <div>武汉凡谷表示公司产品具备5.5G技术，已有部分毫米波产品批量供应</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2024-09-10</div>
+                            <div>联合光电表示毫米波雷达产品供货蔚来、柳汽等，已储备4D毫米波雷达技术</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025-01-31</div>
+                            <div>南开大学携手香港城市大学成功研制出薄膜铌酸锂光子毫米波雷达芯片</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025-02-24</div>
+                            <div>央视新闻辟谣"5G比4G辐射更强"说法，指出我国目前还未部署毫米波级别的5G</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 核心观点摘要 -->
+        <section class="mb-5">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="card">
+                <div class="card-body">
+                    <p class="lead">5G毫米波技术目前处于<strong>商业化初期阶段</strong>，核心驱动力来自技术突破和应用场景拓展，特别是在自动驾驶雷达和高速通信领域。</p>
+                    <div class="row mt-4">
+                        <div class="col-md-4 mb-3">
+                            <div class="card border-primary">
+                                <div class="card-body text-center">
+                                    <i class="bi bi-lightning-charge-fill fs-1 text-primary"></i>
+                                    <h5 class="card-title mt-2">技术突破</h5>
+                                    <p class="card-text">光子毫米波雷达芯片、数字波束成形技术突破传统瓶颈</p>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <div class="card border-success">
+                                <div class="card-body text-center">
+                                    <i class="bi bi-car-front-fill fs-1 text-success"></i>
+                                    <h5 class="card-title mt-2">应用拓展</h5>
+                                    <p class="card-text">4D毫米波雷达在自动驾驶领域应用前景广阔</p>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <div class="card border-warning">
+                                <div class="card-body text-center">
+                                    <i class="bi bi-graph-up-arrow fs-1 text-warning"></i>
+                                    <h5 class="card-title mt-2">产业链成熟</h5>
+                                    <p class="card-text">国内厂商快速突破，成本逐步下降</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 产业链分析 -->
+        <section class="mb-5">
+            <h2 class="section-title">产业链图谱</h2>
+            <div class="row">
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header bg-primary text-white">上游：核心元器件与材料</div>
+                        <div class="card-body">
+                            <ul class="list-group list-group-flush">
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    高频PCB
+                                    <span class="badge bg-primary rounded-pill">5家</span>
+                                </li>
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    射频芯片/模组
+                                    <span class="badge bg-primary rounded-pill">4家</span>
+                                </li>
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    天线
+                                    <span class="badge bg-primary rounded-pill">5家</span>
+                                </li>
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    芯片设计
+                                    <span class="badge bg-primary rounded-pill">6家</span>
+                                </li>
+                            </ul>
+                            <div class="mt-3">
+                                <small class="text-muted">代表企业：沪电股份、卓胜微、武汉凡谷、铖昌科技</small>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header bg-success text-white">中游：设备与系统</div>
+                        <div class="card-body">
+                            <ul class="list-group list-group-flush">
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    基站设备
+                                    <span class="badge bg-success rounded-pill">2家</span>
+                                </li>
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    毫米波雷达
+                                    <span class="badge bg-success rounded-pill">1家</span>
+                                </li>
+                                <li class="list-group-item d-flex justify-content-between align-items-center">
+                                    模组与解决方案
+                                    <span class="badge bg-success rounded-pill">2家</span>
+                                </li>
+                            </ul>
+                            <div class="mt-3">
+                                <small class="text-muted">代表企业：中兴通讯、联合光电、移远通信</small>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header bg-warning text-dark">下游：应用与服务</div>
+                        <div class="card-body">
+                            <ul class="list-group list-group-flush">
+                                <li class="list-group-item">
+                                    <strong>通信服务</strong>
+                                    <p class="mb-0 small text-muted">5G网络部署与运维</p>
+                                </li>
+                                <li class="list-group-item">
+                                    <strong>终端应用</strong>
+                                    <p class="mb-0 small text-muted">自动驾驶、FWA、工业物联网</p>
+                                </li>
+                                <li class="list-group-item">
+                                    <strong>新兴领域</strong>
+                                    <p class="mb-0 small text-muted">远程医疗、精准感知</p>
+                                </li>
+                            </ul>
+                            <div class="mt-3">
+                                <small class="text-muted">代表企业：信科移动、慧智微、臻镭科技</small>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 投资价值分析 -->
+        <section class="mb-5">
+            <h2 class="section-title">投资价值分析</h2>
+            <div class="card">
+                <div class="card-body">
+                    <h5 class="card-title">最具投资价值的细分方向</h5>
+                    <div class="row">
+                        <div class="col-lg-6 mb-4">
+                            <div class="card border-0 shadow-sm">
+                                <div class="card-body">
+                                    <h6 class="card-subtitle mb-2 text-primary">1. 4D毫米波雷达在自动驾驶领域的应用</h6>
+                                    <p class="card-text small">路演显示4D毫米波雷达在自动驾驶领域具有明确的应用前景和商业化路径；联合光电等公司已实现向车企供货；技术相对成熟，成本逐步下降。</p>
+                                    <div class="mt-2">
+                                        <span class="badge bg-primary">联合光电</span>
+                                        <span class="badge bg-primary">华域汽车</span>
+                                        <span class="badge bg-primary">沪电股份</span>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-lg-6 mb-4">
+                            <div class="card border-0 shadow-sm">
+                                <div class="card-body">
+                                    <h6 class="card-subtitle mb-2 text-success">2. 高频PCB材料</h6>
+                                    <p class="card-text small">高频PCB是毫米波技术的关键材料，占成本比重高（约70%）；技术门槛高，国产替代空间大；受益于毫米波在多个领域的应用拓展。</p>
+                                    <div class="mt-2">
+                                        <span class="badge bg-success">沪电股份</span>
+                                        <span class="badge bg-success">深南电路</span>
+                                        <span class="badge bg-success">生益电子</span>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-lg-6 mb-4">
+                            <div class="card border-0 shadow-sm">
+                                <div class="card-body">
+                                    <h6 class="card-subtitle mb-2 text-warning">3. 光子毫米波雷达技术</h6>
+                                    <p class="card-text small">南开大学与香港城市大学研发的光子毫米波雷达芯片代表了毫米波技术的未来发展方向；有效突破了传统电子雷达的技术瓶颈；为6G通信、智能驾驶等前沿领域奠定基础。</p>
+                                    <div class="mt-2">
+                                        <span class="badge bg-warning">关注产学研合作</span>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-lg-6 mb-4">
+                            <div class="card border-0 shadow-sm">
+                                <div class="card-body">
+                                    <h6 class="card-subtitle mb-2 text-info">4. 固定无线接入（FWA）解决方案</h6>
+                                    <p class="card-text small">FWA是5G毫米波的重要应用场景，特别是在农村和偏远地区的覆盖；Sivers等公司已开始接收相关订单；市场潜力大。</p>
+                                    <div class="mt-2">
+                                        <span class="badge bg-info">中兴通讯</span>
+                                        <span class="badge bg-info">共进股份</span>
+                                        <span class="badge bg-info">移远通信</span>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 风险提示 -->
+        <section class="mb-5">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            <div class="row">
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-danger">
+                        <div class="card-header bg-danger text-white">技术风险</div>
+                        <div class="card-body">
+                            <ul class="mb-0">
+                                <li>穿透性差：小障碍物即可完全阻断信号</li>
+                                <li>传输距离短：高频信号衰减快</li>
+                                <li>技术壁垒高：芯片、算法、高频PCB等领域存在技术壁垒</li>
+                                <li>标准不统一：不同厂商数据格式差异</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-warning">
+                        <div class="card-header bg-warning text-dark">商业化风险</div>
+                        <div class="card-body">
+                            <ul class="mb-0">
+                                <li>成本高：高频板材占成本70%</li>
+                                <li>市场接受度不确定：iPhone减少毫米波无线电数量</li>
+                                <li>应用场景拓展不及预期</li>
+                                <li>投资回报周期长</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-secondary">
+                        <div class="card-header bg-secondary text-white">政策与竞争风险</div>
+                        <div class="card-body">
+                            <ul class="mb-0">
+                                <li>政策支持不确定性</li>
+                                <li>国际竞争加剧</li>
+                                <li>地缘政治风险</li>
+                                <li>产业链协同不足</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 股票数据表格 -->
+        <section class="mb-5">
+            <h2 class="section-title">相关股票数据</h2>
+            <div class="table-container">
+                <table class="table table-striped table-hover">
+                    <thead>
+                        <tr>
+                            <th>股票名称</th>
+                            <th>分类</th>
+                            <th>项目</th>
+                            <th>信源</th>
+                            <th>关联原因</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr>
+                            <td><strong>武汉凡谷</strong></td>
+                            <td><span class="category-pill category-天线">天线</span></td>
+                            <td>5G移动回传</td>
+                            <td>互动</td>
+                            <td>部分毫米波产品批量供应，应用于5G移动回传的E-Band微波器件、E-Band微波天线等</td>
+                        </tr>
+                        <tr>
+                            <td><strong>硕贝德</strong></td>
+                            <td><span class="category-pill category-天线">天线</span></td>
+                            <td>毫米波雷达导航天线</td>
+                            <td>互动</td>
+                            <td>毫米波雷达导航天线、毫米波通讯天线；5G毫米波AiP模块小批量出货</td>
+                        </tr>
+                        <tr>
+                            <td><strong>通宇通讯</strong></td>
+                            <td><span class="category-pill category-天线">天线</span></td>
+                            <td>卫星通讯业务</td>
+                            <td>互动</td>
+                            <td>卫星通讯业务基于微波及毫米波技术，主要产品包括地面站终端、相控阵天线、Gps天线等</td>
+                        </tr>
+                        <tr>
+                            <td><strong>雷科防务</strong></td>
+                            <td><span class="category-pill category-天线">天线</span></td>
+                            <td>华为合作</td>
+                            <td>互动</td>
+                            <td>在5G毫米波天线领域与华为有合作</td>
+                        </tr>
+                        <tr>
+                            <td><strong>信维通信</strong></td>
+                            <td><span class="category-pill category-天线">天线</span></td>
+                            <td>5G毫米波天线</td>
+                            <td>互动</td>
+                            <td>5G毫米波天线</td>
+                        </tr>
+                        <tr>
+                            <td><strong>雷科防务</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>毫米波芯片</td>
+                            <td>互动</td>
+                            <td>子公司成都通量的5G毫米波芯片仍在研发中</td>
+                        </tr>
+                        <tr>
+                            <td><strong>维信诺</strong></td>
+                            <td><span class="category-pill category-基站">基站</span></td>
+                            <td>屏上天线技术</td>
+                            <td>互动</td>
+                            <td>屏上天线技术基于5G毫米波双频双极化屏上天线</td>
+                        </tr>
+                        <tr>
+                            <td><strong>中兴通讯</strong></td>
+                            <td><span class="category-pill category-基站">基站</span></td>
+                            <td>毫米波5G系统</td>
+                            <td>互动</td>
+                            <td>自2015年起开展毫米波5G系统研究，形成端到端解决方案</td>
+                        </tr>
+                        <tr>
+                            <td><strong>共进股份</strong></td>
+                            <td><span class="category-pill category-基站">基站</span></td>
+                            <td>一体化小基站</td>
+                            <td>互动</td>
+                            <td>5G毫米波一体化小基站产品</td>
+                        </tr>
+                        <tr>
+                            <td><strong>和而泰</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>微波毫米波相控阵T/R芯片</td>
+                            <td>调研</td>
+                            <td>子公司铖昌科技主营微波毫米波相控阵T/R芯片</td>
+                        </tr>
+                        <tr>
+                            <td><strong>铖昌科技</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>相控阵T/R芯片</td>
+                            <td>调研/互动</td>
+                            <td>主营微波毫米波相控阵T/R芯片，应用于5G毫米波通信</td>
+                        </tr>
+                        <tr>
+                            <td><strong>天和防务</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>5G毫米波芯片</td>
+                            <td>互动</td>
+                            <td>子公司成都通量的5G毫米波芯片仍在研发中</td>
+                        </tr>
+                        <tr>
+                            <td><strong>中瓷电子</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>点对点通信高集成芯片</td>
+                            <td>互动</td>
+                            <td>博威公司5G毫米波点对点通信高集成变频多功能芯片</td>
+                        </tr>
+                        <tr>
+                            <td><strong>万通发展</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>毫米波芯片</td>
+                            <td>互动</td>
+                            <td>控股子公司知融科技专注毫米波芯片和宽带卫星通信相控阵天线整体解决方案</td>
+                        </tr>
+                        <tr>
+                            <td><strong>海特高新</strong></td>
+                            <td><span class="category-pill category-芯片">芯片</span></td>
+                            <td>激光雷达芯片</td>
+                            <td>互动</td>
+                            <td>华芯科技具备自动驾驶汽车激光雷达5G毫米波芯片工艺制程成熟工艺</td>
+                        </tr>
+                        <tr>
+                            <td><strong>沪电股份</strong></td>
+                            <td><span class="category-pill category-高频PCB">高频PCB</span></td>
+                            <td>毫米波雷达</td>
+                            <td>调研</td>
+                            <td>新兴汽车板产品包括毫米波雷达等</td>
+                        </tr>
+                        <tr>
+                            <td><strong>深南电路</strong></td>
+                            <td><span class="category-pill category-高频PCB">高频PCB</span></td>
+                            <td>CMOS毫米波大规模集成</td>
+                            <td>年报</td>
+                            <td>参与"CMOS毫米波大规模集成相控阵技术及产业化"项目获国家技术发明奖</td>
+                        </tr>
+                        <tr>
+                            <td><strong>生益电子</strong></td>
+                            <td><span class="category-pill category-高频PCB">高频PCB</span></td>
+                            <td>毫米波频段基站</td>
+                            <td>互动</td>
+                            <td>5G毫米波频段基站产品远销国内外</td>
+                        </tr>
+                        <tr>
+                            <td><strong>崇达技术</strong></td>
+                            <td><span class="category-pill category-高频PCB">高频PCB</span></td>
+                            <td>5G毫米波产品</td>
+                            <td>互动</td>
+                            <td>5G毫米波产品</td>
+                        </tr>
+                        <tr>
+                            <td><strong>电连技术</strong></td>
+                            <td><span class="category-pill category-高频PCB">高频PCB</span></td>
+                            <td>高频高速产品</td>
+                            <td>互动</td>
+                            <td>适配毫米波的高频高速产品已向海外客户批量出货</td>
+                        </tr>
+                        <tr>
+                            <td><strong>卓胜微</strong></td>
+                            <td><span class="category-pill category-射频">射频</span></td>
+                            <td>基站射频器件</td>
+                            <td>公告</td>
+                            <td>"5G通信基站射频器件研发及产业化项目"中的毫米波频段射频器件尚处研发阶段</td>
+                        </tr>
+                        <tr>
+                            <td><strong>移远通信</strong></td>
+                            <td><span class="category-pill category-模组">模组</span></td>
+                            <td>毫米波模组</td>
+                            <td>互动</td>
+                            <td>已推出多款5G毫米波模组产品</td>
+                        </tr>
+                        <tr>
+                            <td><strong>长电科技</strong></td>
+                            <td><span class="category-pill category-模组">模组</span></td>
+                            <td>射频前端模组</td>
+                            <td>互动</td>
+                            <td>已开始大批量生产面向5G毫米波市场的射频前端模组和AiP模组</td>
+                        </tr>
+                        <tr>
+                            <td><strong>环旭电子</strong></td>
+                            <td><span class="category-pill category-模组">模组</span></td>
+                            <td>AiP模组</td>
+                            <td>互动</td>
+                            <td>5G毫米波AiP模组</td>
+                        </tr>
+                        <tr>
+                            <td><strong>盛路通信</strong></td>
+                            <td><span class="category-pill category-模组">模组</span></td>
+                            <td>毫米波AiP模组</td>
+                            <td>互动</td>
+                            <td>主要聚焦5G毫米波通信领域，产品应用于电力巡检，与华为保持合作</td>
+                        </tr>
+                        <tr>
+                            <td><strong>信科移动</strong></td>
+                            <td><span class="category-pill category-其他">其他</span></td>
+                            <td>毫米波技术</td>
+                            <td>互动</td>
+                            <td>布局的5G毫米波技术能够应用于电力业务场景</td>
+                        </tr>
+                        <tr>
+                            <td><strong>慧智微</strong></td>
+                            <td><span class="category-pill category-其他">其他</span></td>
+                            <td>5G毫米波产品</td>
+                            <td>互动</td>
+                            <td>积极布局5G毫米波等产品线</td>
+                        </tr>
+                        <tr>
+                            <td><strong>臻镭科技</strong></td>
+                            <td><span class="category-pill category-其他">其他</span></td>
+                            <td>5G毫米波通信</td>
+                            <td>互动</td>
+                            <td>产品可以应用于5G毫米波通信</td>
+                        </tr>
+                        <tr>
+                            <td><strong>美格智能</strong></td>
+                            <td><span class="category-pill category-其他">其他</span></td>
+                            <td>5G毫米波产品</td>
+                            <td>互动</td>
+                            <td>公司在5G毫米波产品上已有大量出货</td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </section>
+
+        <!-- 结论 -->
+        <section class="mb-5">
+            <h2 class="section-title">综合结论</h2>
+            <div class="card">
+                <div class="card-body">
+                    <p class="lead">5G毫米波概念已从纯粹的主题炒作逐步过渡到<strong>基本面驱动阶段</strong>，投资者应重点关注技术进展、商业化落地、财务表现和政策环境等关键指标的变化。</p>
+                    <div class="alert alert-info mt-3" role="alert">
+                        <h5 class="alert-heading">关键跟踪指标</h5>
+                        <ul class="mb-0">
+                            <li><strong>技术指标：</strong>光子毫米波雷达芯片的商用化进展、4D毫米波雷达的性能提升</li>
+                            <li><strong>商业化指标：</strong>毫米波雷达的出货量、5G毫米波基站的部署数量、FWA解决方案的用户增长</li>
+                            <li><strong>财务指标：</strong>相关公司的毛利率变化、研发投入占比</li>
+                            <li><strong>政策与标准指标：</strong>6G标准的制定进展、国内毫米波频谱政策</li>
+                            <li><strong>产业链指标：</strong>国产化替代进度、上下游合作动态</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </section>
+    </div>
+
+    <!-- Footer -->
+    <footer class="bg-dark text-white py-4 mt-5">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <h5>5G毫米波概念深度解析</h5>
+                    <p class="mb-0">探索5G通信技术的重要组成部分，分析产业链投资机会与风险挑战</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">数据来源：公开信息整理 | 更新时间：2025年</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 添加平滑滚动效果
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                document.querySelector(this.getAttribute('href')).scrollIntoView({
+                    behavior: 'smooth'
+                });
+            });
+        });
+    </script>
+</body>
+</html>

public/htmls/6G概念.html

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+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>6G概念深度分析报告</title>
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+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+      min-height: 100vh;
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+    #particles-js {
+      position: fixed;
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+      height: 100%;
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+      left: 0;
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+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.8rem;
+      }
+      .tech-card {
+        margin-bottom: 1rem;
+      }
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 highlight">6G概念深度分析报告</h1>
+      <p class="text-lg text-slate-300 max-w-3xl mx-auto">
+        探索下一代通信技术的未来前景、产业链布局与投资机会
+      </p>
+    </div>
+
+    <!-- 概念事件背景 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-blue-400">
+        <i class="fas fa-satellite-dish mr-2"></i>概念事件背景
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">背景与催化事件</h3>
+          <p class="text-slate-300 mb-4">
+            6G（第六代移动通信技术）是继5G之后的下一代通信标准，旨在实现<span class="highlight">空天地一体化覆盖</span>、<span class="highlight">微秒级延迟</span>、<span class="highlight">百倍带宽提升</span>及<span class="highlight">AI原生融合</span>。其发展由政策驱动、技术突破和产业需求共同推动。
+          </p>
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <p class="text-sm text-slate-300">
+              <span class="text-blue-400 font-semibold">政策驱动：</span>中国、美国、欧盟主导标准竞争<br>
+              <span class="text-blue-400 font-semibold">技术突破：</span>太赫兹频段、智能超表面、卫星通信<br>
+              <span class="text-blue-400 font-semibold">产业需求：</span>元宇宙、自动驾驶、工业互联
+            </p>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">关键时间轴</h3>
+          <div class="space-y-3">
+            <div class="timeline-item">
+              <p class="font-semibold text-blue-300">2024年9月</p>
+              <p class="text-sm text-slate-300">3GPP首个6G标准项目（由中国移动主导）通过，全球标准化启动</p>
+            </div>
+            <div class="timeline-item">
+              <p class="font-semibold text-blue-300">2024年11月</p>
+              <p class="text-sm text-slate-300">全球6G发展大会发布《6G总体愿景》，明确2025年6月启动标准研究，2029年完成首版规范</p>
+            </div>
+            <div class="timeline-item">
+              <p class="font-semibold text-blue-300">2025年3月</p>
+              <p class="text-sm text-slate-300">工信部将6G纳入政府工作报告"未来产业培育"核心框架，北京亦庄推出首个地方6G产业资金政策</p>
+            </div>
+            <div class="timeline-item">
+              <p class="font-semibold text-blue-300">2025年4月</p>
+              <p class="text-sm text-slate-300">工信部表态加速6G研发，深化与欧盟、韩国、印度合作</p>
+            </div>
+            <div class="timeline-item">
+              <p class="font-semibold text-blue-300">2025年6月</p>
+              <p class="text-sm text-slate-300">技术标准研究正式启动（王志勤）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-purple-400">
+        <i class="fas fa-lightbulb mr-2"></i>核心观点摘要
+      </h2>
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="bg-slate-800/50 p-4 rounded-lg">
+          <h3 class="font-semibold text-lg mb-2 text-purple-300">阶段判断</h3>
+          <p class="text-slate-300 text-sm">
+            6G处于<span class="highlight">标准制定前夜</span>（2025-2027技术攻关期），政策与资本加速布局，但商业化需至<span class="highlight">2029年后</span>。
+          </p>
+        </div>
+        <div class="bg-slate-800/50 p-4 rounded-lg">
+          <h3 class="font-semibold text-lg mb-2 text-purple-300">核心驱动力</h3>
+          <p class="text-slate-300 text-sm">
+            <span class="highlight">中美技术主权竞争</span>、<span class="highlight">AI与卫星通信融合</span>、<span class="highlight">中国全产业链优势</span>（从芯片到卫星的自主可控）。
+          </p>
+        </div>
+        <div class="bg-slate-800/50 p-4 rounded-lg">
+          <h3 class="font-semibold text-lg mb-2 text-purple-300">未来潜力</h3>
+          <p class="text-slate-300 text-sm">
+            2040年或形成<span class="highlight">千亿级终端连接、万亿级GB流量</span>市场，但需警惕技术路线分裂。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-green-400">
+        <i class="fas fa-brain mr-2"></i>核心逻辑与市场认知分析
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">核心驱动力</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-green-500 rounded-full p-2 mr-3 mt-1">
+                <i class="fas fa-landmark text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-green-300">政策强制力</p>
+                <p class="text-sm text-slate-300">中国将6G列为"新基建+未来产业"双主线，北京、上海等地出台专项政策</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-green-500 rounded-full p-2 mr-3 mt-1">
+                <i class="fas fa-microchip text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-green-300">技术代际差</p>
+                <p class="text-sm text-slate-300">6G带宽达5G的百倍，太赫兹频段+卫星组网实现全球无缝覆盖</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-green-500 rounded-full p-2 mr-3 mt-1">
+                <i class="fas fa-vr-cardboard text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-green-300">场景刚需</p>
+                <p class="text-sm text-slate-300">低空经济、全息通信、工业元宇宙等应用倒逼网络升级</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">市场热度与预期差</h3>
+          <div class="bg-slate-800/50 p-4 rounded-lg mb-4">
+            <p class="font-semibold text-green-300 mb-2">市场热度</p>
+            <p class="text-sm text-slate-300">
+              2025年4-6月"6G"关键词搜索量同比增<span class="highlight">300%</span>，概念股多次涨停。2024Q4以来，10家券商发布6G专题报告，共识度极高。
+            </p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <p class="font-semibold text-yellow-300 mb-2">预期差分析</p>
+            <p class="text-sm text-slate-300">
+              <span class="text-yellow-300">被忽略的关键点：</span>卫星通信是6G的"前置条件"，但市场过度关注地面基站，低估中国卫通等卫星运营商价值。
+            </p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-yellow-400">
+        <i class="fas fa-rocket mr-2"></i>关键催化剂与未来发展路径
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+              <div class="bg-yellow-500 rounded-full p-2 mr-3">
+                <i class="fas fa-calendar-alt text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-yellow-300">2025年6月</p>
+                <p class="text-sm text-slate-300">6G技术标准研究启动，或引发标准制定权争夺行情</p>
+              </div>
+            </div>
+            <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+              <div class="bg-yellow-500 rounded-full p-2 mr-3">
+                <i class="fas fa-calendar-alt text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-yellow-300">2025年9月</p>
+                <p class="text-sm text-slate-300">全球6G技术大会，太赫兹通信试验成果发布</p>
+              </div>
+            </div>
+            <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+              <div class="bg-yellow-500 rounded-full p-2 mr-3">
+                <i class="fas fa-coins text-white text-xs"></i>
+              </div>
+              <div>
+                <p class="font-semibold text-yellow-300">政策落地</p>
+                <p class="text-sm text-slate-300">工信部6G专项基金规模或超100亿元</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">长期发展路径</h3>
+          <div class="space-y-4">
+            <div class="flex items-center">
+              <div class="w-10 h-10 rounded-full bg-blue-500 flex items-center justify-center text-white font-bold mr-3">1</div>
+              <div>
+                <p class="font-semibold text-blue-300">2025-2027</p>
+                <p class="text-sm text-slate-300">技术验证期（通感一体化、AI原生网络）</p>
+              </div>
+            </div>
+            <div class="flex items-center">
+              <div class="w-10 h-10 rounded-full bg-purple-500 flex items-center justify-center text-white font-bold mr-3">2</div>
+              <div>
+                <p class="font-semibold text-purple-300">2028-2029</p>
+                <p class="text-sm text-slate-300">设备商量产（华为/中兴6G基站样机）</p>
+              </div>
+            </div>
+            <div class="flex items-center">
+              <div class="w-10 h-10 rounded-full bg-green-500 flex items-center justify-center text-white font-bold mr-3">3</div>
+              <div>
+                <p class="font-semibold text-green-300">2030+</p>
+                <p class="text-sm text-slate-300">商用爆发（运营商ARPU值提升50%+，卫星互联网用户破亿）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-red-400">
+        <i class="fas fa-network-wired mr-2"></i>产业链与核心公司深度剖析
+      </h2>
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3 text-slate-200">产业链图谱</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="bg-red-500 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-microchip text-white text-2xl"></i>
+            </div>
+            <p class="font-semibold text-red-300 mb-2">上游</p>
+            <p class="text-sm text-slate-300">芯片（亚光科技-6G射频芯片）、光模块（光迅科技-800G）、PCB（本川智能-高频板）</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="bg-red-500 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-broadcast-tower text-white text-2xl"></i>
+            </div>
+            <p class="font-semibold text-red-300 mb-2">中游</p>
+            <p class="text-sm text-slate-300">设备商（中兴通讯-全栈方案）、卫星制造（中国卫星-低轨星座）</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="bg-red-500 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-satellite text-white text-2xl"></i>
+            </div>
+            <p class="font-semibold text-red-300 mb-2">下游</p>
+            <p class="text-sm text-slate-300">运营商（中国移动-主导标准）、应用（中国卫通-卫星宽带）</p>
+          </div>
+        </div>
+      </div>
+      <div>
+        <h3 class="text-xl font-semibold mb-3 text-slate-200">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-slate-800/50 rounded-lg">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="py-3 px-4 text-left text-slate-300 font-semibold">公司</th>
+                <th class="py-3 px-4 text-left text-slate-300 font-semibold">竞争优势</th>
+                <th class="py-3 px-4 text-left text-slate-300 font-semibold">风险点</th>
+                <th class="py-3 px-4 text-left text-slate-300 font-semibold">验证数据</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-red-300">中兴通讯</td>
+                <td class="py-3 px-4 text-sm text-slate-300">3GPP 6G标准主报告人，全栈技术储备</td>
+                <td class="py-3 px-4 text-sm text-slate-300">美国制裁导致芯片断供</td>
+                <td class="py-3 px-4 text-sm text-slate-300">2024年6G研发投入20亿元</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-red-300">中国卫通</td>
+                <td class="py-3 px-4 text-sm text-slate-300">唯一卫星运营上市平台，Ka频段稀缺</td>
+                <td class="py-3 px-4 text-sm text-slate-300">火箭发射成本高于SpaceX 3倍</td>
+                <td class="py-3 px-4 text-sm text-slate-300">2025年订单同比增200%</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-red-300">亚光科技</td>
+                <td class="py-3 px-4 text-sm text-slate-300">太赫兹芯片国内唯一量产线</td>
+                <td class="py-3 px-4 text-sm text-slate-300">良率仅5%，成本过高</td>
+                <td class="py-3 px-4 text-sm text-slate-300">军方订单占比80%</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-orange-400">
+        <i class="fas fa-exclamation-triangle mr-2"></i>潜在风险与挑战
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-slate-800/50 rounded-lg">
+          <thead>
+            <tr class="border-b border-slate-700">
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">风险类型</th>
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">具体表现</th>
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">数据支撑</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-slate-700">
+              <td class="py-3 px-4 font-semibold text-orange-300">技术瓶颈</td>
+              <td class="py-3 px-4 text-sm text-slate-300">太赫兹芯片功耗>100W（5G基站仅50W）</td>
+              <td class="py-3 px-4 text-sm text-slate-300">工信部测试报告</td>
+            </tr>
+            <tr class="border-b border-slate-700">
+              <td class="py-3 px-4 font-semibold text-orange-300">商业化风险</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G基站成本为5G的3倍</td>
+              <td class="py-3 px-4 text-sm text-slate-300">运营商CapEx承压</td>
+            </tr>
+            <tr class="border-b border-slate-700">
+              <td class="py-3 px-4 font-semibold text-orange-300">政策风险</td>
+              <td class="py-3 px-4 text-sm text-slate-300">美国Next G联盟排除中国厂商</td>
+              <td class="py-3 px-4 text-sm text-slate-300">2024年11月欧盟项目限制参与</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-orange-300">信息矛盾</td>
+              <td class="py-3 px-4 text-sm text-slate-300">研报称"2028年商用"，但3GPP明确2029年标准冻结</td>
+              <td class="py-3 px-4 text-sm text-slate-300">需跟踪标准修订进度</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-cyan-400">
+        <i class="fas fa-chart-line mr-2"></i>综合结论与投资启示
+      </h2>
+      <div class="mb-6">
+        <div class="bg-slate-800/50 p-4 rounded-lg mb-4">
+          <p class="font-semibold text-cyan-300 mb-2">阶段判断</p>
+          <p class="text-slate-300">
+            6G处于<span class="highlight">政策催化期向技术验证期过渡</span>，主题炒作与基本面驱动并存。
+          </p>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">高价值方向</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <div class="flex items-center mb-2">
+                <div class="bg-cyan-500 rounded-full p-2 mr-2">
+                  <i class="fas fa-satellite text-white text-xs"></i>
+                </div>
+                <p class="font-semibold text-cyan-300">卫星互联网</p>
+              </div>
+              <p class="text-sm text-slate-300">中国卫通：唯一受益于空天地一体化的运营商，政策强制+频段垄断</p>
+            </div>
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <div class="flex items-center mb-2">
+                <div class="bg-cyan-500 rounded-full p-2 mr-2">
+                  <i class="fas fa-microchip text-white text-xs"></i>
+                </div>
+                <p class="font-semibold text-cyan-300">太赫兹芯片</p>
+              </div>
+              <p class="text-sm text-slate-300">亚光科技：技术壁垒最高，军品订单先行，民品放量需跟踪良率突破</p>
+            </div>
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <div class="flex items-center mb-2">
+                <div class="bg-cyan-500 rounded-full p-2 mr-2">
+                  <i class="fas fa-print text-white text-xs"></i>
+                </div>
+                <p class="font-semibold text-cyan-300">高频PCB</p>
+              </div>
+              <p class="text-sm text-slate-300">本川智能：6G基站密度提升5倍，高频板需求10倍扩容</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      <div>
+        <h3 class="text-xl font-semibold mb-3 text-slate-200">关键跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+            <div class="bg-cyan-500 rounded-full p-2 mr-3">
+              <i class="fas fa-calendar-check text-white text-xs"></i>
+            </div>
+            <div>
+              <p class="font-semibold text-cyan-300">2025年6月</p>
+              <p class="text-sm text-slate-300">6G标准研究启动会议（政策信号）</p>
+            </div>
+          </div>
+          <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+            <div class="bg-cyan-500 rounded-full p-2 mr-3">
+              <i class="fas fa-tachometer-alt text-white text-xs"></i>
+            </div>
+            <div>
+              <p class="font-semibold text-cyan-300">2025Q3</p>
+              <p class="text-sm text-slate-300">华为6G基站样机功耗测试数据（技术验证）</p>
+            </div>
+          </div>
+          <div class="flex items-center bg-slate-800/50 p-3 rounded-lg">
+            <div class="bg-cyan-500 rounded-full p-2 mr-3">
+              <i class="fas fa-rocket text-white text-xs"></i>
+            </div>
+            <div>
+              <p class="font-semibold text-cyan-300">2025年底</p>
+              <p class="text-sm text-slate-300">中国卫通低轨卫星发射数量（商业化进度）</p>
+            </div>
+          </div>
+        </div>
+        <div class="mt-4 bg-red-900/30 p-4 rounded-lg border border-red-700">
+          <p class="font-semibold text-red-300 mb-1">风险提示</p>
+          <p class="text-sm text-slate-300">
+            若太赫兹芯片良率2026年仍<20%，则全产业链商业化将推迟至2032年后。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="tech-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-400">
+        <i class="fas fa-table mr-2"></i>6G概念关联股票
+      </h2>
+      <div class="table-container">
+        <table class="min-w-full bg-slate-800/50 rounded-lg">
+          <thead>
+            <tr class="border-b border-slate-700">
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">股票名称</th>
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">项目</th>
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">行业</th>
+              <th class="py-3 px-4 text-left text-slate-300 font-semibold">原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">亚光科技</td>
+              <td class="py-3 px-4 text-sm text-slate-300">发展6G/6G相关芯片</td>
+              <td class="py-3 px-4 text-sm text-slate-300">芯片研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">公司在6G相关芯片领域有技术研发布局</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">盛路通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">布局6G技术研究及工作</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">参与6G技术研发及标准化工作</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">中国移动</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G将进一步融合卫星通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信运营商</td>
+              <td class="py-3 px-4 text-sm text-slate-300">推进6G与卫星通信技术融合</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">中国卫通</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G将进一步融合卫星通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">卫星通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">提供卫星通信基础设施支持</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">国脉科技</td>
+              <td class="py-3 px-4 text-sm text-slate-300">专业的信息网络技术服务商</td>
+              <td class="py-3 px-4 text-sm text-slate-300">信息网络服务</td>
+              <td class="py-3 px-4 text-sm text-slate-300">在6G网络架构中提供技术服务</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">本川智能</td>
+              <td class="py-3 px-4 text-sm text-slate-300">已有6G相关PCB技术储备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">PCB制造</td>
+              <td class="py-3 px-4 text-sm text-slate-300">具备6G高频PCB技术研发能力</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">金信诺</td>
+              <td class="py-3 px-4 text-sm text-slate-300">在6G控阵技术上有所储备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G相控阵天线技术预研</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">世嘉科技</td>
+              <td class="py-3 px-4 text-sm text-slate-300">跟踪6G技术并开展技术储备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">提前布局6G天线等关键技术</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">三维通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">提供卫星宽带服务</td>
+              <td class="py-3 px-4 text-sm text-slate-300">卫星通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">卫星互联网基础设施服务商</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">信维通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">正进行6G前沿技术研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">开展6G毫米波/太赫兹技术研发</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">中国电信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">开展6G网络架构技术研究</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信运营商</td>
+              <td class="py-3 px-4 text-sm text-slate-300">参与6G网络架构标准制定</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">国缆检测</td>
+              <td class="py-3 px-4 text-sm text-slate-300">可检测6GHz通信电缆</td>
+              <td class="py-3 px-4 text-sm text-slate-300">检测服务</td>
+              <td class="py-3 px-4 text-sm text-slate-300">提供6G高频电缆检测服务</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">信科移动</td>
+              <td class="py-3 px-4 text-sm text-slate-300">参与6G技术研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">布局6G无线传输技术</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">亨通光电</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G相关技术研究</td>
+              <td class="py-3 px-4 text-sm text-slate-300">光纤通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">开展6G光通信技术预研</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">光迅科技</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G光通信技术</td>
+              <td class="py-3 px-4 text-sm text-slate-300">光器件</td>
+              <td class="py-3 px-4 text-sm text-slate-300">研发6G光模块及光传输技术</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">意华股份</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G连接器研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">连接器制造</td>
+              <td class="py-3 px-4 text-sm text-slate-300">开发6G高频连接器产品</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">烽火通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G光通信技术</td>
+              <td class="py-3 px-4 text-sm text-slate-300">光通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">布局6G光网络传输技术</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">沃特股份</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G材料研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">新材料</td>
+              <td class="py-3 px-4 text-sm text-slate-300">研发6G高频材料解决方案</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">中兴通讯</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G技术研发</td>
+              <td class="py-3 px-4 text-sm text-slate-300">通信设备</td>
+              <td class="py-3 px-4 text-sm text-slate-300">全面参与6G技术标准制定</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">航天发展</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G卫星通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">航天通信</td>
+              <td class="py-3 px-4 text-sm text-slate-300">布局星载6G通信系统</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">大恒科技</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G太赫兹技术</td>
+              <td class="py-3 px-4 text-sm text-slate-300">光电技术</td>
+              <td class="py-3 px-4 text-sm text-slate-300">开展6G太赫兹波段研究</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">奥士康</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G高频PCB</td>
+              <td class="py-3 px-4 text-sm text-slate-300">PCB制造</td>
+              <td class="py-3 px-4 text-sm text-slate-300">研发6G高频高速电路板</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">硕贝德</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G天线技术</td>
+              <td class="py-3 px-4 text-sm text-slate-300">天线制造</td>
+              <td class="py-3 px-4 text-sm text-slate-300">布局6G毫米波天线研发</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-700/30">
+              <td class="py-3 px-4 font-semibold text-indigo-300">菲利华</td>
+              <td class="py-3 px-4 text-sm text-slate-300">6G石英材料</td>
+              <td class="py-3 px-4 text-sm text-slate-300">新材料</td>
+              <td class="py-3 px-4 text-sm text-slate-300">提供6G高频石英材料</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AEBS.html

@@ -0,0 +1,692 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AEBS概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: #0f172a;
+      color: #e2e8f0;
+    }
+    .gradient-text {
+      background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .card-bg {
+      background: rgba(30, 41, 59, 0.8);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(148, 163, 184, 0.1);
+    }
+    .timeline-dot {
+      background: #3b82f6;
+      box-shadow: 0 0 0 4px rgba(59, 130, 246, 0.2);
+    }
+    .table-container {
+      overflow-x: visible;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.75rem;
+      }
+      .table-container th, .table-container td {
+        padding: 0.5rem 0.25rem;
+      }
+    }
+  </style>
+</head>
+<body class="min-h-screen relative">
+  <div id="particles-background" class="fixed inset-0 z-0"></div>
+  <div id="vanta-background" class="fixed inset-0 z-0"></div>
+  
+  <div class="relative z-10 container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题区域 -->
+    <div class="text-center mb-12">
+      <h1 class="text-5xl md:text-6xl font-bold mb-4 gradient-text">AEBS概念分析</h1>
+      <p class="text-xl text-slate-300">自动紧急制动系统 - 智能驾驶核心安全功能</p>
+      <div class="mt-6 flex justify-center items-center space-x-4">
+        <span class="px-4 py-2 bg-blue-500/20 text-blue-300 rounded-full text-sm">政策强制驱动</span>
+        <span class="px-4 py-2 bg-purple-500/20 text-purple-300 rounded-full text-sm">千亿级市场</span>
+        <span class="px-4 py-2 bg-green-500/20 text-green-300 rounded-full text-sm">2028年强制实施</span>
+      </div>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-blue-400">概念事件</h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">背景</h3>
+          <p class="text-slate-300 leading-relaxed">
+            AEBS（自动紧急制动系统）是智能驾驶的核心安全功能，通过传感器（摄像头、毫米波雷达、激光雷达）实时监测前方障碍物，在驾驶员未及时反应时自动制动，避免或减轻碰撞。
+          </p>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-3 text-slate-200">催化事件</h3>
+          <ul class="space-y-2 text-slate-300">
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2025年4月30日</strong>：工信部发布《轻型汽车自动紧急制动系统技术要求及试验方法》征求意见稿</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2025年5月16日</strong>：AEBS概念板块爆发，万安科技、亚太股份等十余股涨停</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2025年6月</strong>：万安科技公告"已有小批量订单"</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+      
+      <!-- 时间轴 -->
+      <div class="mt-8">
+        <h3 class="text-xl font-semibold mb-4 text-slate-200">时间轴</h3>
+        <div class="relative">
+          <div class="absolute left-4 top-0 bottom-0 w-0.5 bg-slate-600"></div>
+          <div class="space-y-6">
+            <div class="relative flex items-center">
+              <div class="timeline-dot w-3 h-3 rounded-full absolute left-2.5"></div>
+              <div class="ml-10">
+                <p class="font-semibold text-blue-300">2025年4月</p>
+                <p class="text-slate-400">标准起草完成</p>
+              </div>
+            </div>
+            <div class="relative flex items-center">
+              <div class="timeline-dot w-3 h-3 rounded-full absolute left-2.5"></div>
+              <div class="ml-10">
+                <p class="font-semibold text-blue-300">2025年5月</p>
+                <p class="text-slate-400">征求意见（截止6月30日）</p>
+              </div>
+            </div>
+            <div class="relative flex items-center">
+              <div class="timeline-dot w-3 h-3 rounded-full absolute left-2.5"></div>
+              <div class="ml-10">
+                <p class="font-semibold text-blue-300">2026-2027年</p>
+                <p class="text-slate-400">车企定点研发</p>
+              </div>
+            </div>
+            <div class="relative flex items-center">
+              <div class="timeline-dot w-3 h-3 rounded-full absolute left-2.5"></div>
+              <div class="ml-10">
+                <p class="font-semibold text-blue-300">2028年</p>
+                <p class="text-slate-400">强制实施</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-purple-400">核心观点摘要</h2>
+      <div class="bg-gradient-to-r from-purple-500/10 to-blue-500/10 rounded-xl p-6 border border-purple-500/20">
+        <p class="text-lg text-slate-200 leading-relaxed">
+          AEBS正处于<strong class="text-purple-300">政策强制驱动+技术成本拐点</strong>的双重红利期，
+          <strong class="text-purple-300">2025-2027年是产业链从主题炒作转向订单验证的关键窗口</strong>。
+          低渗透率（8万以下车型仅2.6%）叠加强制安装，将催生<strong class="text-purple-300">千亿级前装市场</strong>，
+          激光雷达和线控制动环节弹性最大。
+        </p>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-green-400">核心逻辑与市场认知分析</h2>
+      
+      <div class="grid md:grid-cols-3 gap-6 mb-8">
+        <div class="bg-green-500/10 rounded-xl p-5 border border-green-500/20">
+          <h3 class="text-xl font-semibold mb-3 text-green-300">核心驱动力</h3>
+          <ul class="space-y-2 text-slate-300">
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">▸</span>
+              <span><strong>政策刚性</strong>：年新增需求约2000万辆</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">▸</span>
+              <span><strong>技术成熟</strong>：8MP前视一体机成本已降至500元</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">▸</span>
+              <span><strong>责任划分</strong>：高配冗余方案将成为主流</span>
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-blue-500/10 rounded-xl p-5 border border-blue-500/20">
+          <h3 class="text-xl font-semibold mb-3 text-blue-300">市场热度与情绪</h3>
+          <ul class="space-y-2 text-slate-300">
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">▸</span>
+              <span><strong>新闻热度</strong>：5月16-19日连续涨停潮</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">▸</span>
+              <span><strong>研报密集度</strong>：5篇深度报告聚焦AEBS</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">▸</span>
+              <span><strong>情绪分歧</strong>：纯视觉路线替代担忧</span>
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-purple-500/10 rounded-xl p-5 border border-purple-500/20">
+          <h3 class="text-xl font-semibold mb-3 text-purple-300">预期差分析</h3>
+          <ul class="space-y-2 text-slate-300">
+            <li class="flex items-start">
+              <span class="text-purple-400 mr-2">▸</span>
+              <span><strong>商用车增量</strong>：弹性空间10倍于乘用车</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-purple-400 mr-2">▸</span>
+              <span><strong>后装市场</strong>：超2000万辆存量货车</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-yellow-400">关键催化剂与未来发展路径</h2>
+      
+      <div class="grid md:grid-cols-2 gap-8">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-yellow-300">近期催化剂（3-6个月）</h3>
+          <div class="space-y-4">
+            <div class="flex items-start">
+              <div class="bg-yellow-500/20 rounded-lg p-3 mr-4">
+                <span class="text-yellow-300 font-bold">08月</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">标准终稿发布</p>
+                <p class="text-slate-400 text-sm">明确激光雷达/毫米波雷达配置比例</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-yellow-500/20 rounded-lg p-3 mr-4">
+                <span class="text-yellow-300 font-bold">Q3</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">车企定点招标</p>
+                <p class="text-slate-400 text-sm">比亚迪、宇通等头部车企启动AEBS定点</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-yellow-500/20 rounded-lg p-3 mr-4">
+                <span class="text-yellow-300 font-bold">Q4</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">试验场满产</p>
+                <p class="text-slate-400 text-sm">中汽股份二期试验场满产</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-yellow-300">长期路径（2025-2030）</h3>
+          <div class="space-y-4">
+            <div class="flex items-start">
+              <div class="bg-blue-500/20 rounded-lg p-3 mr-4">
+                <span class="text-blue-300 font-bold">25-26</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">L2级车型标配化</p>
+                <p class="text-slate-400 text-sm">渗透率60%→90%，激光雷达成本降至100美元</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500/20 rounded-lg p-3 mr-4">
+                <span class="text-blue-300 font-bold">27-28</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">N1类货车强制安装</p>
+                <p class="text-slate-400 text-sm">年新增需求500万套</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500/20 rounded-lg p-3 mr-4">
+                <span class="text-blue-300 font-bold">29-30</span>
+              </div>
+              <div>
+                <p class="font-semibold text-slate-200">AEBS与L3级融合</p>
+                <p class="text-slate-400 text-sm">单车价值量从500元提升至3000元</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-red-400">产业链与核心公司深度剖析</h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-red-300">产业链图谱</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-red-500/10 rounded-xl p-4 text-center">
+            <p class="font-semibold text-red-300 mb-2">上游</p>
+            <p class="text-slate-300 text-sm">激光雷达（禾赛、速腾）<br>毫米波雷达（德赛西威）<br>线控制动（伯特利）</p>
+          </div>
+          <div class="bg-red-500/10 rounded-xl p-4 text-center">
+            <p class="font-semibold text-red-300 mb-2">中游</p>
+            <p class="text-slate-300 text-sm">AEBS系统集成（万安科技）<br>前视一体机（联创电子）</p>
+          </div>
+          <div class="bg-red-500/10 rounded-xl p-4 text-center">
+            <p class="font-semibold text-red-300 mb-2">下游</p>
+            <p class="text-slate-300 text-sm">整车厂（比亚迪、宇通）<br>检测机构（中汽股份）</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-red-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4 text-red-300">公司</th>
+                <th class="text-left py-3 px-4 text-red-300">角色</th>
+                <th class="text-left py-3 px-4 text-red-300">进展</th>
+                <th class="text-left py-3 px-4 text-red-300">风险</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-slate-200">万安科技</td>
+                <td class="py-3 px-4 text-slate-400">商用车AEBS龙头</td>
+                <td class="py-3 px-4 text-slate-400">已获小批量订单，一体机方案成本<800元</td>
+                <td class="py-3 px-4 text-slate-400">乘用车客户拓展不及预期</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-slate-200">锐明技术</td>
+                <td class="py-3 px-4 text-slate-400">后装市场霸主</td>
+                <td class="py-3 px-4 text-slate-400">欧洲R131标准市占率80%，单车价值2000美元</td>
+                <td class="py-3 px-4 text-slate-400">国内政策落地延迟</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-slate-200">禾赛科技</td>
+                <td class="py-3 px-4 text-slate-400">激光雷达供应商</td>
+                <td class="py-3 px-4 text-slate-400">半固态雷达成本降至1000元，适配AEBS场景</td>
+                <td class="py-3 px-4 text-slate-400">纯视觉路线技术替代</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-slate-200">中汽股份</td>
+                <td class="py-3 px-4 text-slate-400">检测服务</td>
+                <td class="py-3 px-4 text-slate-400">二期试验场2025年Q3满产，单车测试费100万元</td>
+                <td class="py-3 px-4 text-slate-400">车企自建试验场分流需求</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-orange-400">潜在风险与挑战</h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="bg-orange-500/10 rounded-xl p-4 border border-orange-500/20">
+            <h3 class="font-semibold text-orange-300 mb-2">技术风险</h3>
+            <p class="text-slate-400">纯视觉方案（如特斯拉FSD）若突破误检率瓶颈，可能挤压激光雷达份额。</p>
+          </div>
+          <div class="bg-orange-500/10 rounded-xl p-4 border border-orange-500/20">
+            <h3 class="font-semibold text-orange-300 mb-2">商业化风险</h3>
+            <p class="text-slate-400">8万以下车型对成本极度敏感，若一体机方案无法降至300元以下，渗透率提升将受阻。</p>
+          </div>
+        </div>
+        <div class="space-y-4">
+          <div class="bg-orange-500/10 rounded-xl p-4 border border-orange-500/20">
+            <h3 class="font-semibold text-orange-300 mb-2">政策风险</h3>
+            <p class="text-slate-400">标准终稿可能延迟至2026年（参考ETC从征求意见到实施耗时18个月）。</p>
+          </div>
+          <div class="bg-orange-500/10 rounded-xl p-4 border border-orange-500/20">
+            <h3 class="font-semibold text-orange-300 mb-2">信息矛盾</h3>
+            <p class="text-slate-400">研报称"激光雷达成本100美元"，但速腾路演显示2025年仍为1000元，需跟踪技术迭代速度。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card-bg rounded-2xl p-6 mb-8">
+      <h2 class="text-3xl font-bold mb-6 text-indigo-400">综合结论与投资启示</h2>
+      
+      <div class="bg-gradient-to-r from-indigo-500/10 to-purple-500/10 rounded-xl p-6 mb-6 border border-indigo-500/20">
+        <p class="text-lg text-slate-200 mb-4">
+          <strong class="text-indigo-300">阶段判断</strong>：AEBS处于<strong class="text-indigo-300">政策驱动向订单验证过渡期</strong>，
+          2025年Q3前为<strong class="text-indigo-300">主题炒作阶段</strong>，Q4后进入<strong class="text-indigo-300">基本面兑现阶段</strong>。
+        </p>
+      </div>
+      
+      <div class="grid md:grid-cols-3 gap-6 mb-6">
+        <div class="bg-indigo-500/10 rounded-xl p-5 border border-indigo-500/20">
+          <h3 class="text-lg font-semibold mb-3 text-indigo-300">投资方向</h3>
+          <ul class="space-y-2 text-slate-300">
+            <li class="flex items-start">
+              <span class="text-indigo-400 mr-2">1.</span>
+              <span><strong>激光雷达</strong>：禾赛科技、速腾聚创</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-indigo-400 mr-2">2.</span>
+              <span><strong>线控制动</strong>：伯特利</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-indigo-400 mr-2">3.</span>
+              <span><strong>检测服务</strong>：中汽股份</span>
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-purple-500/10 rounded-xl p-5 border border-purple-500/20 md:col-span-2">
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">跟踪指标</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="text-center">
+              <p class="font-semibold text-slate-200 mb-1">万安科技</p>
+              <p class="text-sm text-slate-400">Q3订单量</p>
+              <p class="text-xs text-purple-300 mt-1">验证商用车渗透率</p>
+            </div>
+            <div class="text-center">
+              <p class="font-semibold text-slate-200 mb-1">禾赛科技</p>
+              <p class="text-sm text-slate-400">激光雷达出货量</p>
+              <p class="text-xs text-purple-300 mt-1">验证成本下降速度</p>
+            </div>
+            <div class="text-center">
+              <p class="font-semibold text-slate-200 mb-1">中汽股份</p>
+              <p class="text-sm text-slate-400">试验场利用率</p>
+              <p class="text-xs text-purple-300 mt-1">验证测试需求爆发</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="card-bg rounded-2xl p-6">
+      <h2 class="text-3xl font-bold mb-6 text-cyan-400">关联股票</h2>
+      <div class="table-container">
+        <table class="w-full text-sm">
+          <thead>
+            <tr class="border-b border-slate-700">
+              <th class="text-left py-3 px-4 text-cyan-300">股票名称</th>
+              <th class="text-left py-3 px-4 text-cyan-300">行业</th>
+              <th class="text-left py-3 px-4 text-cyan-300">项目</th>
+              <th class="text-left py-3 px-4 text-cyan-300">功能/分类</th>
+              <th class="text-left py-3 px-4 text-cyan-300">产业链/应用</th>
+              <th class="text-left py-3 px-4 text-cyan-300">关联原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">万安科技</td>
+              <td class="py-3 px-4 text-slate-400">汽车零部件</td>
+              <td class="py-3 px-4 text-slate-400">AEBS产品研发</td>
+              <td class="py-3 px-4 text-slate-400">商用车AEBS一体机在研</td>
+              <td class="py-3 px-4 text-slate-400">制动系统供应商</td>
+              <td class="py-3 px-4 text-slate-400">主营气压盘式制动器、ABS/EBD/AEBS，商用车AEBS一体机在研</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">亚太股份</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">线控制动产品</td>
+              <td class="py-3 px-4 text-slate-400">AEB功能实现</td>
+              <td class="py-3 px-4 text-slate-400">已量产</td>
+              <td class="py-3 px-4 text-slate-400">通过线控制动产品实现客户AEB功能（无单独销售）</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">雷科防务</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">汽车AEBS系统</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">市场推广</td>
+              <td class="py-3 px-4 text-slate-400">自研汽车AEBS系统，重点推进市场推广</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">锐明技术</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">后装AEBS产品</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">公交/出租车行业</td>
+              <td class="py-3 px-4 text-slate-400">后装AEBS产品已在公交、出租车行业落地销售</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">保隆科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEBS产品</td>
+              <td class="py-3 px-4 text-slate-400">自动刹车辅助系统</td>
+              <td class="py-3 px-4 text-slate-400">批产阶段</td>
+              <td class="py-3 px-4 text-slate-400">AEBS产品进入批产阶段，覆盖自动刹车辅助系统</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">东风科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">商用车EEBS/AEBS集成方案</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">商业化</td>
+              <td class="py-3 px-4 text-slate-400">子公司推出商用车EEBS/AEBS集成方案，已实现商业化</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">建邦科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEB电机</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">车辆改装/加装</td>
+              <td class="py-3 px-4 text-slate-400">为国内智能驾驶供应商提供AEB电机（含算法）</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">万集科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">车载激光雷达</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEBS系统</td>
+              <td class="py-3 px-4 text-slate-400">车载激光雷达已应用于某车企AEBS系统</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">潍柴动力</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEB标准起草</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">智能网联汽车</td>
+              <td class="py-3 px-4 text-slate-400">控股子公司清智科技为AEB标准起草单位，智能网联汽车领域头部企业</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">均胜电子</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEBS核心部件</td>
+              <td class="py-3 px-4 text-slate-400">电子控制单元/传感器</td>
+              <td class="py-3 px-4 text-slate-400">网传未核实</td>
+              <td class="py-3 px-4 text-slate-400">网传涉及AEBS核心部件供应（电子控制单元、传感器）</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">路畅科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEB控制系统</td>
+              <td class="py-3 px-4 text-slate-400">LDW/FCW/LKA/AEB/ACC</td>
+              <td class="py-3 px-4 text-slate-400">开发中</td>
+              <td class="py-3 px-4 text-slate-400">AEB控制系统研发，辅助驾驶功能开发中（LDW/FCW等）</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">豪恩汽电</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">基础功能覆盖</td>
+              <td class="py-3 px-4 text-slate-400">拨杆变道/TJA/AEB</td>
+              <td class="py-3 px-4 text-slate-400">覆盖ACC/LKA/TJA/AEB基础功能及衍生功能</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">经纬恒润</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEB/ACC算法</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">城市NOA功能</td>
+              <td class="py-3 px-4 text-slate-400">自研AEB/ACC算法及城市NOA功能算法进展顺利</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">索菱股份</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">ADAS系统</td>
+              <td class="py-3 px-4 text-slate-400">FCW/AEB</td>
+              <td class="py-3 px-4 text-slate-400">自动驾驶产品</td>
+              <td class="py-3 px-4 text-slate-400">自动驾驶产品含ADAS系统，支持FCW/AEB等功能</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">联创电子</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">光学镜头/影像模组</td>
+              <td class="py-3 px-4 text-slate-400">AEBS摄像头系统</td>
+              <td class="py-3 px-4 text-slate-400">光学镜头/影像模组技术领先，为AEBS摄像头系统提供支持</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">汉鑫科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">智能驾驶方案</td>
+              <td class="py-3 px-4 text-slate-400">前向碰撞预警/紧急制动</td>
+              <td class="py-3 px-4 text-slate-400">17项场景</td>
+              <td class="py-3 px-4 text-slate-400">智能驾驶方案含前向碰撞预警、紧急制动等17项应用</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">强达电路</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">ACC/AEB</td>
+              <td class="py-3 px-4 text-slate-400">产品应用于ACC、AEB等智能驾驶功能</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">动力新科</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">L2+智驾系统</td>
+              <td class="py-3 px-4 text-slate-400">AEBS/ACC/DMS</td>
+              <td class="py-3 px-4 text-slate-400">自主研发</td>
+              <td class="py-3 px-4 text-slate-400">自主研发L2+智驾系统技术，涵盖AEBS/ACC/DMS等</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">众合科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">车载融合系统</td>
+              <td class="py-3 px-4 text-slate-400">360度监控+AEBS防护</td>
+              <td class="py-3 px-4 text-slate-400">单元化</td>
+              <td class="py-3 px-4 text-slate-400">研发车载融合系统，含360度监控+AEBS防护单元</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">中机认检</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">汽车电子检测</td>
+              <td class="py-3 px-4 text-slate-400">AEBS性能试验</td>
+              <td class="py-3 px-4 text-slate-400">检测服务</td>
+              <td class="py-3 px-4 text-slate-400">检测业务覆盖汽车电子领域，包括AEBS性能试验</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">华依科技</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">ADAS性能测试</td>
+              <td class="py-3 px-4 text-slate-400">AEB/LKA/BSD</td>
+              <td class="py-3 px-4 text-slate-400">主动安全路测</td>
+              <td class="py-3 px-4 text-slate-400">提供ADAS性能测试服务，覆盖AEB/LKA/BSD等主动安全路测</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">光庭信息</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEB测试</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">部分客户</td>
+              <td class="py-3 px-4 text-slate-400">为部分客户提供AEB测试服务</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-semibold text-slate-200">中汽股份</td>
+              <td class="py-3 px-4 text-slate-400">-</td>
+              <td class="py-3 px-4 text-slate-400">AEBS强标</td>
+              <td class="py-3 px-4 text-slate-400">征求意见</td>
+              <td class="py-3 px-4 text-slate-400">试验场投产增量</td>
+              <td class="py-3 px-4 text-slate-400">AEBS强标征求意见，二期试验场投产贡献增量</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-background", {
+      fpsLimit: 60,
+      particles: {
+        color: {
+          value: "#3b82f6"
+        },
+        links: {
+          color: "#3b82f6",
+          distance: 150,
+          enable: true,
+          opacity: 0.2,
+          width: 1
+        },
+        move: {
+          direction: "none",
+          enable: true,
+          outModes: {
+            default: "bounce"
+          },
+          random: false,
+          speed: 1,
+          straight: false
+        },
+        number: {
+          density: {
+            enable: true,
+            area: 800
+          },
+          value: 80
+        },
+        opacity: {
+          value: 0.3
+        },
+        shape: {
+          type: "circle"
+        },
+        size: {
+          value: { min: 1, max: 3 }
+        }
+      },
+      detectRetina: true
+    });
+
+    // 初始化Vanta.js波浪背景
+    VANTA.WAVES({
+      el: "#vanta-background",
+      mouseControls: true,
+      touchControls: true,
+      gyroControls: false,
+      minHeight: 200.00,
+      minWidth: 200.00,
+      scale: 1.00,
+      scaleMobile: 1.00,
+      color: 0x1e293b,
+      shininess: 30.00,
+      waveHeight: 10.00,
+      waveSpeed: 0.50,
+      zoom: 0.65
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AGV.html

@@ -0,0 +1,632 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AGV概念深度分析报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #f5f7fa 0%, #c3cfe2 100%);
+      min-height: 100vh;
+    }
+    .card {
+      background: rgba(255, 255, 255, 0.9);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.18);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.15);
+    }
+    .timeline-dot {
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+      position: absolute;
+      left: -8px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 22px;
+      bottom: 0;
+      width: 2px;
+      background-color: #e5e7eb;
+    }
+    .gradient-text {
+      background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .industry-tag {
+      background: rgba(59, 130, 246, 0.1);
+      color: #3b82f6;
+      border: 1px solid rgba(59, 130, 246, 0.2);
+    }
+    .risk-tag {
+      background: rgba(239, 68, 68, 0.1);
+      color: #ef4444;
+      border: 1px solid rgba(239, 68, 68, 0.2);
+    }
+    .opportunity-tag {
+      background: rgba(16, 185, 129, 0.1);
+      color: #10b981;
+      border: 1px solid rgba(16, 185, 129, 0.2);
+    }
+    .table-row-hover:hover {
+      background-color: rgba(59, 130, 246, 0.05);
+    }
+    .chart-container {
+      position: relative;
+      height: 300px;
+      width: 100%;
+    }
+    @media (max-width: 768px) {
+      .timeline-line {
+        left: 15px;
+      }
+      .timeline-dot {
+        left: 7px;
+      }
+    }
+  </style>
+</head>
+<body class="p-4 md:p-8">
+  <div class="max-w-7xl mx-auto">
+    <!-- 标题部分 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <div class="flex flex-col md:flex-row items-center justify-between">
+        <div class="mb-4 md:mb-0">
+          <h1 class="text-3xl md:text-4xl font-bold gradient-text mb-2">AGV概念深度分析报告</h1>
+          <p class="text-gray-600">自动导引车行业洞察与投资机会</p>
+        </div>
+        <div class="flex items-center space-x-2">
+          <span class="industry-tag px-3 py-1 rounded-full text-sm font-medium">工业自动化</span>
+          <span class="industry-tag px-3 py-1 rounded-full text-sm font-medium">智能物流</span>
+          <span class="industry-tag px-3 py-1 rounded-full text-sm font-medium">机器人技术</span>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-500 mr-3"></i>
+        核心观点摘要
+      </h2>
+      <div class="bg-gradient-to-r from-blue-50 to-purple-50 rounded-xl p-5 border border-blue-100">
+        <p class="text-lg leading-relaxed">
+          AGV正处于<strong class="text-blue-600">"政策催化+技术成熟+需求爆发"的三重拐点</strong>，从单一搬运工具升级为<strong class="text-purple-600">智能物流中枢</strong>。短期看，<strong class="text-green-600">海外订单高毛利（50%-100%）</strong>和<strong class="text-green-600">国内渗透率提升（1.66%→10%）</strong>是核心驱动力；长期看，<strong class="text-indigo-600">人形机器人+AGV协同</strong>将重构万亿级物流场景。
+        </p>
+      </div>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-history text-blue-500 mr-3"></i>
+        概念事件时间轴
+      </h2>
+      <div class="relative pl-8 md:pl-12">
+        <div class="timeline-line"></div>
+        
+        <div class="relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2022年</span>
+              <span class="ml-2 text-sm text-gray-500">市场基础</span>
+            </div>
+            <p class="text-gray-700">中国AGV/AMR出货量14.6万台，渗透率仅1.66%</p>
+          </div>
+        </div>
+
+        <div class="relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2023年</span>
+              <span class="ml-2 text-sm text-gray-500">市场增长</span>
+            </div>
+            <p class="text-gray-700">全球无人叉车销量3.07万台，中国占2.5万台，杭叉集团AGV订单超1600台</p>
+          </div>
+        </div>
+
+        <div class="relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2024年8月</span>
+              <span class="ml-2 text-sm text-gray-500">应用落地</span>
+            </div>
+            <p class="text-gray-700">东南电子披露生产中已使用AGV智能机器人，标志AGV从"概念"向"实际应用"落地</p>
+          </div>
+        </div>
+
+        <div class="relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2024年11月</span>
+              <span class="ml-2 text-sm text-gray-500">政策推动</span>
+            </div>
+            <p class="text-gray-700">工信部等十二部门印发《5G规模化应用"扬帆"行动升级方案》，深化AGV与5G融合</p>
+          </div>
+        </div>
+
+        <div class="relative mb-8">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2025年6月</span>
+              <span class="ml-2 text-sm text-gray-500">区域规划</span>
+            </div>
+            <p class="text-gray-700">新疆发布现代物流规划，鼓励AGV在物流园区、自动驾驶矿车等场景应用</p>
+          </div>
+        </div>
+
+        <div class="relative">
+          <div class="timeline-dot"></div>
+          <div class="ml-4">
+            <div class="flex items-center mb-1">
+              <span class="font-bold text-blue-600">2025年7月</span>
+              <span class="ml-2 text-sm text-gray-500">行业整合</span>
+            </div>
+            <p class="text-gray-700">杭叉集团并购国自机器人，整合AGV/AMR技术，目标五年营收50亿元</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 市场分析与核心逻辑 -->
+    <div class="grid grid-cols-1 lg:grid-cols-2 gap-6 mb-8">
+      <div class="card rounded-2xl p-6">
+        <h2 class="text-2xl font-bold mb-4 flex items-center">
+          <i class="fas fa-chart-line text-green-500 mr-3"></i>
+          核心驱动力
+        </h2>
+        <div class="space-y-4">
+          <div class="bg-blue-50 rounded-lg p-4 border-l-4 border-blue-500">
+            <h3 class="font-bold text-blue-700 mb-2">政策端</h3>
+            <p class="text-gray-700">5G/AI国家战略（如"扬帆"行动）强制推动AGV在港口、仓储、制造业的标准化落地</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4 border-l-4 border-purple-500">
+            <h3 class="font-bold text-purple-700 mb-2">技术端</h3>
+            <p class="text-gray-700">激光SLAM导航成本下降40%，二维码导航AGV单价已降至20万元/台，ROI缩短至6-12个月</p>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4 border-l-4 border-green-500">
+            <h3 class="font-bold text-green-700 mb-2">需求端</h3>
+            <p class="text-gray-700">劳动力短缺+电商仓储自动化，2025年全球AGV市场预计达5588亿元</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="card rounded-2xl p-6">
+        <h2 class="text-2xl font-bold mb-4 flex items-center">
+          <i class="fas fa-brain text-purple-500 mr-3"></i>
+          市场预期差
+        </h2>
+        <div class="space-y-4">
+          <div class="bg-yellow-50 rounded-lg p-4">
+            <h3 class="font-bold text-yellow-700 mb-2 flex items-center">
+              <i class="fas fa-exclamation-circle mr-2"></i>
+              海外高毛利被低估
+            </h3>
+            <p class="text-gray-700">杭叉美国子公司AGV硬件毛利率100%（vs国内30%），但市场未充分定价</p>
+          </div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-bold text-indigo-700 mb-2 flex items-center">
+              <i class="fas fa-microchip mr-2"></i>
+              技术代差被忽视
+            </h3>
+            <p class="text-gray-700">国自机器人的AMR算法已支持单仓500台机器人协同，而传统AGV仍依赖磁条导航</p>
+          </div>
+          <div class="bg-red-50 rounded-lg p-4">
+            <h3 class="font-bold text-red-700 mb-2 flex items-center">
+              <i class="fas fa-chart-bar mr-2"></i>
+              渗透率统计可能偏低
+            </h3>
+            <p class="text-gray-700">特斯拉工厂已部署700台AGV（单一场景超行业总量10%），实际渗透可能高于统计</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司分析 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-sitemap text-indigo-500 mr-3"></i>
+        产业链与核心公司分析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-blue-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-blue-700 mb-2">上游</h4>
+            <p class="text-gray-700">激光雷达（海康机器人）、伺服电机（步科股份）、减速器（秦川机床）</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-purple-700 mb-2">中游</h4>
+            <p class="text-gray-700">AGV本体（杭叉集团、诺力股份）、AMR系统（极智嘉、国自机器人）</p>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-green-700 mb-2">下游</h4>
+            <p class="text-gray-700">电商（京东）、汽车（特斯拉）、医药（辉瑞）</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold mb-3">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-100">
+              <tr>
+                <th class="py-3 px-4 text-left font-semibold text-gray-700">公司</th>
+                <th class="py-3 px-4 text-left font-semibold text-gray-700">竞争优势</th>
+                <th class="py-3 px-4 text-left font-semibold text-gray-700">风险点</th>
+                <th class="py-3 px-4 text-left font-semibold text-gray-700">验证数据</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-200 hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">杭叉集团</td>
+                <td class="py-3 px-4">并购国自机器人，海外订单+200%</td>
+                <td class="py-3 px-4">泰国工厂产能爬坡不及预期</td>
+                <td class="py-3 px-4">2024年AGV营收8亿元（+80%）</td>
+              </tr>
+              <tr class="border-b border-gray-200 hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">诺力股份</td>
+                <td class="py-3 px-4">铜箔领域AGV市占率国内第一</td>
+                <td class="py-3 px-4">无人叉车毛利率仅20%（价格战）</td>
+                <td class="py-3 px-4">2025年目标2亿元收入</td>
+              </tr>
+              <tr class="border-b border-gray-200 hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">机科股份</td>
+                <td class="py-3 px-4">央企背景，重载AGV（120吨）技术领先</td>
+                <td class="py-3 px-4">医疗订单依赖政府财政</td>
+                <td class="py-3 px-4">2023年营收5.2亿元（+0%）</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 font-medium">步科股份</td>
+                <td class="py-3 px-4">无框力矩电机国产唯一供应商</td>
+                <td class="py-3 px-4">特斯拉机器人订单尚未落地</td>
+                <td class="py-3 px-4">AGV伺服市占率42%</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据表格 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-table text-blue-500 mr-3"></i>
+        关联股票数据
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-white rounded-lg overflow-hidden">
+          <thead class="bg-gray-100">
+            <tr>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">股票名称</th>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">行业</th>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">项目</th>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">分类/应用领域</th>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">知识产权/效益</th>
+              <th class="py-3 px-4 text-left font-semibold text-gray-700">关联原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">舜禹精工</td>
+              <td class="py-3 px-4">AGV集成解决方案</td>
+              <td class="py-3 px-4">内饰功能件</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">公司在内饰功能件和AGV集成解决方案领域的技术和产品处于行业领先地位</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">井松智能</td>
+              <td class="py-3 px-4">AGV研发与应用</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">市场占有率提升</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">公司将进一步推进AGV产品研发与应用，逐步提高市场占有率</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">机科股份</td>
+              <td class="py-3 px-4">AGV企业竞争力</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">行业排名</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">2020年中国AGV企业竞争力排行TOP100中位列第一</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">东杰智能</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV调度系统</td>
+              <td class="py-3 px-4">统一调度管理</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV调度系统可实现对所有小车的统一调度和管理</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">长荣股份</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV定制生产</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">周边专利/软件著作权</td>
+              <td class="py-3 px-4">基于客户需求定制生产AGV产品，拥有相关自主知识产权</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">泰禾智能</td>
+              <td class="py-3 px-4">AGV智能运输/仓储/装车</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">综合制造商</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">战略目标为打造集AGV智能运输、仓储、装车为一体的综合制造商</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">五洋停车</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV智能机器人</td>
+              <td class="py-3 px-4">智能车库汽车搬运</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV智能机器人主要用于智能车库汽车搬运</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">赛象科技</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV智能物流</td>
+              <td class="py-3 px-4">产品及解决方案</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">成功推出AGV智能物流相关产品及解决方案</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">步科股份</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">电商AGV运动控制方案</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">提升运维效率/降低成本</td>
+              <td class="py-3 px-4">电商AGV运动控制方案提升了运维效率并降低了成本</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">今天国际</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">自主研发AGV</td>
+              <td class="py-3 px-4">产品种类</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">自主研发的AGV产品近30种</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">科大智能</td>
+              <td class="py-3 px-4">智能物流机器人</td>
+              <td class="py-3 px-4">AGV移动机器人</td>
+              <td class="py-3 px-4">解决方案</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">产品主要为AGV移动机器人及AGV+解决方案</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">昆船智能</td>
+              <td class="py-3 px-4">AGV研发生产</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">核心技术/自主知识产权</td>
+              <td class="py-3 px-4">国内较早从事AGV研发生产的企业，拥有完整自主知识产权</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">瑞鹄模具</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">移动机器人(AGV/AMR)</td>
+              <td class="py-3 px-4">机器人周边设备</td>
+              <td class="py-3 px-4">批量承接订单/实现销售</td>
+              <td class="py-3 px-4">子公司研发的移动机器人及周边设备已批量承接订单并实现销售</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">三丰智能</td>
+              <td class="py-3 px-4">AGV机器人</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">智能立库业务</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">积极拓展AGV机器人和智能立库业务在相关市场的应用场景</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">秦川机床</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">AGV减速器</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">首批小批量投放市场</td>
+              <td class="py-3 px-4">子公司沃克齿轮开发的AGV减速器产品首批小批量已投放市场</td>
+            </tr>
+            <tr class="border-b border-gray-200 table-row-hover">
+              <td class="py-3 px-4 font-medium">安徽合力</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">智能网联工业车辆</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">年产2000台套AGV产能</td>
+              <td class="py-3 px-4">投资建设智能网联工业车辆创新能力建设项目，预计形成年产能</td>
+            </tr>
+            <tr class="table-row-hover">
+              <td class="py-3 px-4 font-medium">大族激光</td>
+              <td class="py-3 px-4">机械自动化</td>
+              <td class="py-3 px-4">AGV移动机器人</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">-</td>
+              <td class="py-3 px-4">机械自动化产品包括自动化设备、AGV移动机器人等</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 风险与挑战 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle text-red-500 mr-3"></i>
+        潜在风险与挑战
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="bg-red-50 rounded-lg p-4 border-l-4 border-red-500">
+            <h3 class="font-bold text-red-700 mb-2">技术风险</h3>
+            <p class="text-gray-700">SLAM算法瓶颈：复杂环境（如雨雪、强光）下定位误差可能>5mm，影响重载AGV安全</p>
+          </div>
+          <div class="bg-orange-50 rounded-lg p-4 border-l-4 border-orange-500">
+            <h3 class="font-bold text-orange-700 mb-2">商业化风险</h3>
+            <p class="text-gray-700">价格战：极智嘉等企业降价30%抢市场，行业毛利率从40%降至20%</p>
+          </div>
+        </div>
+        <div class="space-y-4">
+          <div class="bg-yellow-50 rounded-lg p-4 border-l-4 border-yellow-500">
+            <h3 class="font-bold text-yellow-700 mb-2">政策风险</h3>
+            <p class="text-gray-700">出口管制：美国或限制激光雷达出口，影响杭叉、海康海外扩张</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4 border-l-4 border-purple-500">
+            <h3 class="font-bold text-purple-700 mb-2">信息矛盾</h3>
+            <p class="text-gray-700">市场规模：AIoT星图预测2027年中国AGV出货量110万台，但机科股份路演称"实际产能不足需求30%"</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 投资启示 -->
+    <div class="card rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-compass text-green-500 mr-3"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">阶段判断</h3>
+        <div class="bg-gradient-to-r from-green-50 to-blue-50 rounded-xl p-5 border border-green-200">
+          <p class="text-lg">
+            AGV已从<strong class="text-green-600">主题炒作（2022-2023）</strong>进入<strong class="text-blue-600">基本面驱动（2024-2025）</strong>，核心标志是<strong class="text-purple-600">订单落地+毛利率验证</strong>（杭叉海外100%毛利）。
+          </p>
+        </div>
+      </div>
+
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">投资方向</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-blue-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-blue-700 mb-2">高弹性</h4>
+            <p class="text-gray-700 font-medium">杭叉集团</p>
+            <p class="text-sm text-gray-600 mt-1">海外订单+人形机器人协同</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-purple-700 mb-2">低估值</h4>
+            <p class="text-gray-700 font-medium">诺力股份</p>
+            <p class="text-sm text-gray-600 mt-1">2025年PE仅10倍，铜箔AGV垄断</p>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4 text-center">
+            <h4 class="font-bold text-green-700 mb-2">技术卡位</h4>
+            <p class="text-gray-700 font-medium">步科股份</p>
+            <p class="text-sm text-gray-600 mt-1">无框电机切入特斯拉供应链</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold mb-3">跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-start">
+            <span class="flex-shrink-0 w-8 h-8 rounded-full bg-blue-100 flex items-center justify-center text-blue-600 font-bold mr-3">1</span>
+            <div>
+              <p class="font-medium">订单密度</p>
+              <p class="text-gray-600 text-sm">2025年Q3杭叉美国子公司特斯拉/沃尔玛订单确认</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <span class="flex-shrink-0 w-8 h-8 rounded-full bg-purple-100 flex items-center justify-center text-purple-600 font-bold mr-3">2</span>
+            <div>
+              <p class="font-medium">渗透率</p>
+              <p class="text-gray-600 text-sm">2025年中国无人叉车销量是否突破5万台（对应渗透率3%）</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <span class="flex-shrink-0 w-8 h-8 rounded-full bg-green-100 flex items-center justify-center text-green-600 font-bold mr-3">3</span>
+            <div>
+              <p class="font-medium">毛利率</p>
+              <p class="text-gray-600 text-sm">行业平均毛利率能否稳定在25%以上（价格战缓解信号）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 市场规模预测图表 -->
+    <div class="card rounded-2xl p-6">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-area text-indigo-500 mr-3"></i>
+        AGV市场规模预测
+      </h2>
+      <div class="chart-container">
+        <canvas id="marketChart"></canvas>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 市场规模预测图表
+    const ctx = document.getElementById('marketChart').getContext('2d');
+    const marketChart = new Chart(ctx, {
+      type: 'line',
+      data: {
+        labels: ['2022', '2023', '2024', '2025', '2026', '2027', '2028', '2029', '2030'],
+        datasets: [{
+          label: '中国AGV市场规模（亿元）',
+          data: [120, 180, 221, 243, 320, 450, 680, 920, 1200],
+          borderColor: 'rgb(59, 130, 246)',
+          backgroundColor: 'rgba(59, 130, 246, 0.1)',
+          tension: 0.3,
+          fill: true
+        }, {
+          label: '全球AGV市场规模（亿元）',
+          data: [800, 1200, 1800, 2500, 3500, 4500, 6000, 8000, 10000],
+          borderColor: 'rgb(139, 92, 246)',
+          backgroundColor: 'rgba(139, 92, 246, 0.1)',
+          tension: 0.3,
+          fill: true
+        }]
+      },
+      options: {
+        responsive: true,
+        maintainAspectRatio: false,
+        plugins: {
+          legend: {
+            position: 'top',
+          },
+          title: {
+            display: true,
+            text: 'AGV市场规模预测（2022-2030）'
+          }
+        },
+        scales: {
+          y: {
+            beginAtZero: true,
+            title: {
+              display: true,
+              text: '市场规模（亿元）'
+            }
+          },
+          x: {
+            title: {
+              display: true,
+              text: '年份'
+            }
+          }
+        }
+      }
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI PCB产业链.html

@@ -0,0 +1,696 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI PCB产业链分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.tailwindcss.com"></script>
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+    }
+    .timeline-item {
+      position: relative;
+      padding-left: 30px;
+    }
+    .timeline-item::before {
+      content: '';
+      position: absolute;
+      left: 0;
+      top: 5px;
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+    }
+    .timeline-item::after {
+      content: '';
+      position: absolute;
+      left: 5px;
+      top: 17px;
+      width: 2px;
+      height: calc(100% + 10px);
+      background-color: #e5e7eb;
+    }
+    .timeline-item:last-child::after {
+      display: none;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 20px rgba(0,0,0,0.1);
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.75rem;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-background" class="fixed inset-0 z-0"></div>
+  
+  <div class="relative z-10 container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题区域 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">AI PCB产业链分析报告</h1>
+      <p class="text-xl text-gray-600 max-w-3xl mx-auto">
+        深度解析AI算力爆发下PCB产业链的投资机遇与挑战
+      </p>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-clock text-blue-500 mr-3"></i>概念事件时间轴
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">技术演进与市场发展</h3>
+          <div class="space-y-4">
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2023Q4</h4>
+              <p class="text-gray-600">英伟达GB200服务器开始小批量出货，PCB价值量较HGX系列提升88%-186%</p>
+            </div>
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2024Q2</h4>
+              <p class="text-gray-600">800G交换机批量出货，PCB价值量为400G的3倍</p>
+            </div>
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2024Q3</h4>
+              <p class="text-gray-600">苹果AI功能上线，推动iPhone17 PCB升级</p>
+            </div>
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2025Q1</h4>
+              <p class="text-gray-600">GB300服务器量产，单GPU PCB价值量达382-501美元</p>
+            </div>
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2025Q2</h4>
+              <p class="text-gray-600">ASIC渗透率从10%提升至2030年超GPU，推动外围PCB需求</p>
+            </div>
+            <div class="timeline-item">
+              <h4 class="font-medium text-gray-800">2025Q3</h4>
+              <p class="text-gray-600">Rubin平台发布，采用PTFE正交背板，单柜PCB价值量翻倍</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">催化事件</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-50 p-4 rounded-lg">
+              <h4 class="font-medium text-blue-800 mb-2">技术迭代</h4>
+              <p class="text-gray-700">PCIe 5.0→6.0、800G→1.6T交换机、GB200→GB300→Rubin</p>
+            </div>
+            <div class="bg-green-50 p-4 rounded-lg">
+              <h4 class="font-medium text-green-800 mb-2">需求爆发</h4>
+              <p class="text-gray-700">AI服务器出货量2024年280亿美元（同比+16%），2025年增速128%</p>
+            </div>
+            <div class="bg-yellow-50 p-4 rounded-lg">
+              <h4 class="font-medium text-yellow-800 mb-2">产能瓶颈</h4>
+              <p class="text-gray-700">高端CCL（M8/M9）、HVLP铜箔、低介电玻纤布供应紧张，交期拉长至6个月以上</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-500 mr-3"></i>核心观点摘要
+      </h2>
+      <div class="grid md:grid-cols-3 gap-6">
+        <div class="bg-gradient-to-br from-blue-50 to-indigo-50 p-5 rounded-lg">
+          <h3 class="font-semibold text-lg text-blue-800 mb-3">阶段判断</h3>
+          <p class="text-gray-700">AI PCB产业链已从主题炒作进入基本面驱动阶段，2025-2027年将迎来量价齐升的黄金周期。</p>
+        </div>
+        <div class="bg-gradient-to-br from-green-50 to-emerald-50 p-5 rounded-lg">
+          <h3 class="font-semibold text-lg text-green-800 mb-3">核心驱动力</h3>
+          <p class="text-gray-700">AI算力需求爆发（训练+推理）推动PCB技术升级（高多层/HDI/高频材料），叠加产能缺口形成供需错配。</p>
+        </div>
+        <div class="bg-gradient-to-br from-purple-50 to-pink-50 p-5 rounded-lg">
+          <h3 class="font-semibold text-lg text-purple-800 mb-3">未来潜力</h3>
+          <p class="text-gray-700">2025年市场规模500亿→1000亿→1500亿，CAGR超50%，高端产能稀缺将维持2年以上。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-brain text-purple-500 mr-3"></i>核心逻辑与市场认知分析
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">核心驱动力</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">1</span>
+              <div>
+                <h4 class="font-medium text-gray-800">技术升级刚性</h4>
+                <p class="text-gray-600 text-sm">AI服务器PCB层数从12层→28-46层，CCL从M6→M9（Df≤0.0015），单GPU价值量提升3-5倍</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">2</span>
+              <div>
+                <h4 class="font-medium text-gray-800">需求结构变化</h4>
+                <p class="text-gray-600 text-sm">ASIC渗透率提升（2030年超GPU）推动外围电路价值量膨胀</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">3</span>
+              <div>
+                <h4 class="font-medium text-gray-800">产能瓶颈</h4>
+                <p class="text-gray-600 text-sm">高端设备交期6个月+，有效产能增速远低于需求增速（2026年缺口30%+）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">市场热度与预期差</h3>
+          <div class="space-y-4">
+            <div class="bg-yellow-50 p-4 rounded-lg">
+              <h4 class="font-medium text-gray-800 mb-2">市场热度</h4>
+              <p class="text-gray-600 text-sm">2024年11月-2025年7月，中泰/广发/东方等机构发布15篇+深度报告，一致强Call</p>
+              <p class="text-gray-600 text-sm mt-2">板块估值2026年PE<20X，显著低于半导体设备（30X+），性价比凸显</p>
+            </div>
+            <div class="bg-red-50 p-4 rounded-lg">
+              <h4 class="font-medium text-gray-800 mb-2">预期差分析</h4>
+              <p class="text-gray-600 text-sm">市场忽略点：ASIC对PCB的单位需求弹性（单芯片PCB价值量提升2-3倍）被低估</p>
+              <p class="text-gray-600 text-sm mt-2">产能验证：国内厂商扩产进度（如沪电43亿扩产项目）需跟踪2025Q3设备到位率</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-rocket text-red-500 mr-3"></i>关键催化剂与未来发展路径
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">近期催化剂（3-6个月）</h3>
+          <div class="space-y-4">
+            <div class="border-l-4 border-blue-500 pl-4 py-1">
+              <h4 class="font-medium text-gray-800">GB300量产</h4>
+              <p class="text-gray-600 text-sm">2025Q3英伟达GB300大规模出货，验证PCB价值量382-501美元/单GPU</p>
+            </div>
+            <div class="border-l-4 border-green-500 pl-4 py-1">
+              <h4 class="font-medium text-gray-800">CCL涨价</h4>
+              <p class="text-gray-600 text-sm">M8/M9级CCL因日东纺产能紧张，涨价10-20%</p>
+            </div>
+            <div class="border-l-4 border-purple-500 pl-4 py-1">
+              <h4 class="font-medium text-gray-800">国产替代</h4>
+              <p class="text-gray-600 text-sm">生益科技S8/S9材料通过北美客户认证，2025Q2批量供货</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold text-gray-700 mb-4">长期路径</h3>
+          <div class="space-y-4">
+            <div class="bg-gradient-to-r from-blue-50 to-indigo-50 p-4 rounded-lg">
+              <h4 class="font-medium text-gray-800 mb-2">2025-2026</h4>
+              <p class="text-gray-600 text-sm">GB300/Rubin平台放量，高端PCB供需缺口扩大，龙头公司产能利用率>90%</p>
+            </div>
+            <div class="bg-gradient-to-r from-purple-50 to-pink-50 p-4 rounded-lg">
+              <h4 class="font-medium text-gray-800 mb-2">2027-2030</h4>
+              <p class="text-gray-600 text-sm">ASIC成为主流，PCB技术向COWOP（主板载板化）演进，单柜价值量再翻倍</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链分析 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-sitemap text-green-500 mr-3"></i>产业链与核心公司深度剖析
+      </h2>
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">产业链图谱</h3>
+        <div class="bg-gray-50 p-4 rounded-lg">
+          <div class="flex flex-col items-center">
+            <div class="bg-blue-500 text-white px-4 py-2 rounded-lg mb-4">AI算力需求</div>
+            <div class="flex justify-center space-x-8 mb-4">
+              <div class="bg-green-500 text-white px-4 py-2 rounded-lg">PCB制造</div>
+              <div class="bg-purple-500 text-white px-4 py-2 rounded-lg">上游材料</div>
+            </div>
+            <div class="grid grid-cols-2 gap-4 w-full max-w-2xl">
+              <div class="space-y-2">
+                <div class="bg-green-100 p-2 rounded text-center">高多层板 → 沪电股份/深南电路</div>
+                <div class="bg-green-100 p-2 rounded text-center">HDI板 → 胜宏科技/鹏鼎控股</div>
+              </div>
+              <div class="space-y-2">
+                <div class="bg-purple-100 p-2 rounded text-center">CCL → 生益科技/南亚新材</div>
+                <div class="bg-purple-100 p-2 rounded text-center">HVLP铜箔 → 德福科技/铜冠铜箔</div>
+                <div class="bg-purple-100 p-2 rounded text-center">低介电玻纤 → 中材科技/宏和科技</div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white">
+            <thead>
+              <tr class="bg-gray-100">
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">公司</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">竞争优势</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b">
+                <td class="py-3 px-4 font-medium text-gray-800">沪电股份</td>
+                <td class="py-3 px-4 text-gray-600">800G交换机龙头，AI服务器占比31%</td>
+                <td class="py-3 px-4 text-gray-600">泰国厂亏损（Q1亏0.51亿）</td>
+              </tr>
+              <tr class="border-b bg-gray-50">
+                <td class="py-3 px-4 font-medium text-gray-800">胜宏科技</td>
+                <td class="py-3 px-4 text-gray-600">英伟达核心供应商，70层HDI量产</td>
+                <td class="py-3 px-4 text-gray-600">客户集中度风险</td>
+              </tr>
+              <tr class="border-b">
+                <td class="py-3 px-4 font-medium text-gray-800">生益科技</td>
+                <td class="py-3 px-4 text-gray-600">高速CCL国产替代，S8/S9通过认证</td>
+                <td class="py-3 px-4 text-gray-600">原材料价格波动</td>
+              </tr>
+              <tr class="border-b bg-gray-50">
+                <td class="py-3 px-4 font-medium text-gray-800">深南电路</td>
+                <td class="py-3 px-4 text-gray-600">FC-BGA载板突破，绑定华为/寒武纪</td>
+                <td class="py-3 px-4 text-gray-600">技术良率低于预期</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 股票数据表格 -->
+    <div class="bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-chart-line text-indigo-500 mr-3"></i>关联股票数据
+      </h2>
+      
+      <!-- AI PCB(250618) -->
+      <div class="mb-8">
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">AI PCB(250618)</h3>
+        <div class="table-container">
+          <table class="min-w-full bg-white border border-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">股票名称</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">分类</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">项目</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">2024年营收及占比</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">AI服务器相关</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">资料来源</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">鹏鼎控股</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB</td>
+                <td class="py-3 px-4 border-b text-gray-600">350亿元/99.64%</td>
+                <td class="py-3 px-4 border-b text-gray-600">HD升级至16-20L水平，切入全球知名服务器客户供应链</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">沪电股份</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB</td>
+                <td class="py-3 px-4 border-b text-gray-600">128亿元/96.23%</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器领域已有批量订单出货</td>
+                <td class="py-3 px-4 border-b text-gray-600">调研</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">景旺电子</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB</td>
+                <td class="py-3 px-4 border-b text-gray-600">120亿元/94.67%</td>
+                <td class="py-3 px-4 border-b text-gray-600">公司在PCB业务产品重点布局数据中心（含服务器）</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">深南电路</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB</td>
+                <td class="py-3 px-4 border-b text-gray-600">105亿元/58.6%</td>
+                <td class="py-3 px-4 border-b text-gray-600">已推出高阶HDI、高频高速PCB等多款AI服务器相关产品，部分产品已批量供货</td>
+                <td class="py-3 px-4 border-b text-gray-600">调研</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">胜宏科技</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB</td>
+                <td class="py-3 px-4 border-b text-gray-600">100亿元/93.66%</td>
+                <td class="py-3 px-4 border-b text-gray-600">已具备AI服务器核心客户高可靠性产品及超密高阶HDI的制作能力</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">生益科技</td>
+                <td class="py-3 px-4 border-b text-gray-600">覆铜板</td>
+                <td class="py-3 px-4 border-b text-gray-600">覆铜板</td>
+                <td class="py-3 px-4 border-b text-gray-600">147.91亿元/72.55%</td>
+                <td class="py-3 px-4 border-b text-gray-600">-</td>
+                <td class="py-3 px-4 border-b text-gray-600">财报</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">德福科技</td>
+                <td class="py-3 px-4 border-b text-gray-600">HVLP</td>
+                <td class="py-3 px-4 border-b text-gray-600">HVLP</td>
+                <td class="py-3 px-4 border-b text-gray-600">-</td>
+                <td class="py-3 px-4 border-b text-gray-600">批量出货的HVLP前三代产品，第四代产品正在送样和验证阶段</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <!-- AI PCB(250728)更新 -->
+      <div class="mb-8">
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">AI PCB(250728)更新</h3>
+        <div class="table-container">
+          <table class="min-w-full bg-white border border-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">股票名称</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">分类</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">项目</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">产业链/营收及占比</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">资料来源</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">鹏鼎控股</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">HD升级至16-20L水平</td>
+                <td class="py-3 px-4 border-b text-gray-600">已切入全球知名服务器客户供应链 / 350亿元/99.64%</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">沪电股份</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器相关</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器和HPC相关PCB产品占企业通讯市场板营业收入比重约31%</td>
+                <td class="py-3 px-4 border-b text-gray-600">128亿元/96.23%</td>
+                <td class="py-3 px-4 border-b text-gray-600">调研</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">大族数控</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-钻孔</td>
+                <td class="py-3 px-4 border-b text-gray-600">新型CCD六轴独立机械钻孔机搭载3D背钻及钻测一体技术</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">调研</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">芯碁微装</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-曝光</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB曝光设备功能</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">年报/互动</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">鼎泰高科</td>
+                <td class="py-3 px-4 border-b text-gray-600">耗材-钻针</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB钻针</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB耗材</td>
+                <td class="py-3 px-4 border-b text-gray-600">研报/互动</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <!-- PCB(250120) -->
+      <div class="mb-8">
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">PCB(250120)</h3>
+        <div class="table-container">
+          <table class="min-w-full bg-white border border-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">股票名称</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">项目/技术</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">合作方/应用</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">行业排名/材料</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">宏昌电子</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB供应</td>
+                <td class="py-3 px-4 border-b text-gray-600">英伟达</td>
+                <td class="py-3 px-4 border-b text-gray-600">-</td>
+                <td class="py-3 px-4 border-b text-gray-600">2023年11月30日互动，公司与英伟达供应相关的PCB印制电路板厂商</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">一博科技</td>
+                <td class="py-3 px-4 border-b text-gray-600">高速PCB设计、SI/PI仿真分析</td>
+                <td class="py-3 px-4 border-b text-gray-600">英伟达、英特尔、AMD</td>
+                <td class="py-3 px-4 border-b text-gray-600">-</td>
+                <td class="py-3 px-4 border-b text-gray-600">为英伟达等企业提供高速PCB设计及仿真分析技术服务</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">世运电路</td>
+                <td class="py-3 px-4 border-b text-gray-600">AI服务器PCB量产</td>
+                <td class="py-3 px-4 border-b text-gray-600">英伟达</td>
+                <td class="py-3 px-4 border-b text-gray-600">2023年全球PCB企业第32名</td>
+                <td class="py-3 px-4 border-b text-gray-600">2023年二季度起为英伟达AI服务器头部客户量产供应PCB产品</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">景旺电子</td>
+                <td class="py-3 px-4 border-b text-gray-600">PTFE材料PCB量产</td>
+                <td class="py-3 px-4 border-b text-gray-600">北美算力N客户</td>
+                <td class="py-3 px-4 border-b text-gray-600">PTFE</td>
+                <td class="py-3 px-4 border-b text-gray-600">使用PTFE材料制作的PCB已批量供应北美算力客户，用于GB200/GB300服务器</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">沃格光电</td>
+                <td class="py-3 px-4 border-b text-gray-600">玻璃基板</td>
+                <td class="py-3 px-4 border-b text-gray-600">替代传统PCB线路板</td>
+                <td class="py-3 px-4 border-b text-gray-600">国家新质生产力和高质量发展范畴</td>
+                <td class="py-3 px-4 border-b text-gray-600">全资子公司通格微量产玻璃基板替代传统PCB线路板</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <!-- PCB设备及耗材(250728) -->
+      <div>
+        <h3 class="text-lg font-semibold text-gray-700 mb-4">PCB设备及耗材(250728)</h3>
+        <div class="table-container">
+          <table class="min-w-full bg-white border border-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">股票名称</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">分类</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">项目</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">产业链</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">信源</th>
+                <th class="py-3 px-4 border-b text-left text-gray-700 font-semibold">原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">大族数控</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-钻孔</td>
+                <td class="py-3 px-4 border-b text-gray-600">新型CCD六轴独立机械钻孔机搭载3D背钻及钻测一体技术</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">调研</td>
+                <td class="py-3 px-4 border-b text-gray-600">获得行业多家高多层板龙头企业的认可及批量订单</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">德龙激光</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-钻孔</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB产品应用</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+                <td class="py-3 px-4 border-b text-gray-600">应用于FPC、PCB、软硬结合板等线路板材料的切割、打标、钻孔等激光精细微加工</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">芯碁微装</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-曝光</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB曝光设备功能</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">年报/互动</td>
+                <td class="py-3 px-4 border-b text-gray-600">覆盖PCB各细分产品市场，直写光刻设备应用于PCB</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">东威科技</td>
+                <td class="py-3 px-4 border-b text-gray-600">设备-电镀</td>
+                <td class="py-3 px-4 border-b text-gray-600">垂直连续电镀设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB设备</td>
+                <td class="py-3 px-4 border-b text-gray-600">年报</td>
+                <td class="py-3 px-4 border-b text-gray-600">中国市场占有率超50%，技术积累深厚</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">鼎泰高科</td>
+                <td class="py-3 px-4 border-b text-gray-600">耗材-钻针</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB钻针</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB耗材</td>
+                <td class="py-3 px-4 border-b text-gray-600">研报/互动</td>
+                <td class="py-3 px-4 border-b text-gray-600">2023年全球PCB钻针销量市占率约26.5%，月产能约9400万支</td>
+              </tr>
+              <tr class="hover:bg-gray-50 bg-gray-50">
+                <td class="py-3 px-4 border-b text-gray-800">中钨高新</td>
+                <td class="py-3 px-4 border-b text-gray-600">耗材-钻针</td>
+                <td class="py-3 px-4 border-b text-gray-600">微钻产能</td>
+                <td class="py-3 px-4 border-b text-gray-600">PCB耗材</td>
+                <td class="py-3 px-4 border-b text-gray-600">互动</td>
+                <td class="py-3 px-4 border-b text-gray-600">旗下金洲公司2024年微钻产能提升至6.8亿支</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 风险与结论 -->
+    <div class="grid md:grid-cols-2 gap-8 mb-8">
+      <div class="bg-white rounded-xl shadow-lg p-6 card-hover">
+        <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+          <i class="fas fa-exclamation-triangle text-red-500 mr-3"></i>潜在风险与挑战
+        </h2>
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <span class="bg-red-100 text-red-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">1</span>
+            <div>
+              <h4 class="font-medium text-gray-800">技术风险</h4>
+              <p class="text-gray-600 text-sm">PTFE背板良率<30%，Rubin平台或延迟至2027H2</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <span class="bg-red-100 text-red-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">2</span>
+            <div>
+              <h4 class="font-medium text-gray-800">商业化风险</h4>
+              <p class="text-gray-600 text-sm">ASIC成本下降速度低于预期，可能抑制PCB价值量提升</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <span class="bg-red-100 text-red-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">3</span>
+            <div>
+              <h4 class="font-medium text-gray-800">政策风险</h4>
+              <p class="text-gray-600 text-sm">美国对华高端PCB出口限制（如HDI设备禁令）</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <span class="bg-red-100 text-red-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3 mt-1">4</span>
+            <div>
+              <h4 class="font-medium text-gray-800">信息矛盾</h4>
+              <p class="text-gray-600 text-sm">中泰电子预测2026年缺口30%，但台光电扩产可能提前填补</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div class="bg-white rounded-xl shadow-lg p-6 card-hover">
+        <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+          <i class="fas fa-check-circle text-green-500 mr-3"></i>综合结论与投资启示
+        </h2>
+        <div class="space-y-4">
+          <div class="bg-gradient-to-r from-green-50 to-emerald-50 p-4 rounded-lg">
+            <h4 class="font-medium text-gray-800 mb-2">阶段判断</h4>
+            <p class="text-gray-600 text-sm">AI PCB处于基本面加速期，2025-2027年量价齐升确定性高</p>
+          </div>
+          <div>
+            <h4 class="font-medium text-gray-800 mb-3">投资方向</h4>
+            <div class="space-y-2">
+              <div class="flex items-center">
+                <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3">1</span>
+                <span class="text-gray-700"><strong>高弹性</strong>：胜宏科技（HDI龙头，产能释放+客户绑定）</span>
+              </div>
+              <div class="flex items-center">
+                <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3">2</span>
+                <span class="text-gray-700"><strong>稳健白马</strong>：沪电股份（交换机+服务器双轮驱动）</span>
+              </div>
+              <div class="flex items-center">
+                <span class="bg-blue-100 text-blue-800 rounded-full w-6 h-6 flex items-center justify-center text-sm font-bold mr-3">3</span>
+                <span class="text-gray-700"><strong>材料替代</strong>：生益科技（M8/M9 CCL国产替代）</span>
+              </div>
+            </div>
+          </div>
+          <div>
+            <h4 class="font-medium text-gray-800 mb-3">跟踪指标</h4>
+            <ul class="text-gray-600 text-sm space-y-1">
+              <li>• GB300出货量（英伟达财报指引）</li>
+              <li>• CCL涨价幅度（生益科技/南亚新材报价）</li>
+              <li>• 国产设备交付进度（芯碁微装/大族数控订单）</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-background", {
+      particles: {
+        number: {
+          value: 30,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#8b5cf6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: true
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: true,
+          straight: false,
+          out_mode: "out"
+        }
+      },
+      interactivity: {
+        events: {
+          onhover: {
+            enable: true,
+            mode: "repulse"
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI PCB英伟达M9.html

@@ -0,0 +1,833 @@
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AI PCB英伟达M9 - 深度投资分析</title>
+    <link href="https://cdn.jsdelivr.net/npm/daisyui@4.4.24/dist/full.min.css" rel="stylesheet" type="text/css" />
+    <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet" type="text/css" />
+    <link href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.5.1/css/all.min.css" rel="stylesheet">
+    <script src="https://cdn.tailwindcss.com"></script>
+    <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+    <style>
+        @import url('https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap');
+        
+        body {
+            font-family: 'Inter', -apple-system, BlinkMacSystemFont, 'Segoe UI', sans-serif;
+            background: linear-gradient(135deg, #0f172a 0%, #1e293b 50%, #0f172a 100%);
+            min-height: 100vh;
+        }
+        
+        .hero-gradient {
+            background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 50%, #ec4899 100%);
+        }
+        
+        .card-hover {
+            transition: all 0.3s cubic-bezier(0.4, 0, 0.2, 1);
+        }
+        
+        .card-hover:hover {
+            transform: translateY(-8px);
+            box-shadow: 0 20px 40px rgba(0, 0, 0, 0.3);
+        }
+        
+        .timeline-line {
+            background: linear-gradient(180deg, #3b82f6 0%, #8b5cf6 100%);
+        }
+        
+        .glass-effect {
+            background: rgba(255, 255, 255, 0.05);
+            backdrop-filter: blur(10px);
+            border: 1px solid rgba(255, 255, 255, 0.1);
+        }
+        
+        .tech-grid {
+            background-image: 
+                linear-gradient(rgba(59, 130, 246, 0.1) 1px, transparent 1px),
+                linear-gradient(90deg, rgba(59, 130, 246, 0.1) 1px, transparent 1px);
+            background-size: 50px 50px;
+        }
+        
+        .pulse-dot {
+            animation: pulse 2s cubic-bezier(0.4, 0, 0.6, 1) infinite;
+        }
+        
+        @keyframes pulse {
+            0%, 100% { opacity: 1; }
+            50% { opacity: 0.5; }
+        }
+        
+        .scroll-container {
+            scrollbar-width: thin;
+            scrollbar-color: #4b5563 #1f2937;
+        }
+        
+        .scroll-container::-webkit-scrollbar {
+            height: 8px;
+            width: 8px;
+        }
+        
+        .scroll-container::-webkit-scrollbar-track {
+            background: #1f2937;
+        }
+        
+        .scroll-container::-webkit-scrollbar-thumb {
+            background: #4b5563;
+            border-radius: 4px;
+        }
+        
+        .number-animate {
+            animation: countUp 2s ease-out forwards;
+        }
+        
+        @keyframes countUp {
+            from { opacity: 0; transform: translateY(20px); }
+            to { opacity: 1; transform: translateY(0); }
+        }
+        
+        .gradient-text {
+            background: linear-gradient(135deg, #60a5fa, #c084fc, #f472b6);
+            -webkit-background-clip: text;
+            -webkit-text-fill-color: transparent;
+            background-clip: text;
+        }
+        
+        .stock-table {
+            display: block;
+            overflow-x: auto;
+            white-space: nowrap;
+        }
+    </style>
+</head>
+<body class="text-gray-100">
+    <!-- Navigation -->
+    <div class="navbar glass-effect fixed top-0 w-full z-50 px-4">
+        <div class="max-w-7xl mx-auto">
+            <div class="flex justify-between items-center h-16">
+                <div class="flex items-center space-x-3">
+                    <div class="w-10 h-10 rounded-lg bg-gradient-to-br from-blue-500 to-purple-600 flex items-center justify-center">
+                        <i class="fas fa-microchip text-white"></i>
+                    </div>
+                    <span class="text-xl font-bold gradient-text">AI PCB英伟达M9</span>
+                </div>
+                <div class="hidden md:flex space-x-6">
+                    <a href="#overview" class="hover:text-blue-400 transition">核心逻辑</a>
+                    <a href="#timeline" class="hover:text-blue-400 transition">事件时间轴</a>
+                    <a href="#industry" class="hover:text-blue-400 transition">产业链</a>
+                    <a href="#stocks" class="hover:text-blue-400 transition">核心标的</a>
+                    <a href="#risks" class="hover:text-blue-400 transition">风险提示</a>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Hero Section -->
+    <section class="hero-gradient min-h-screen flex items-center relative overflow-hidden tech-grid">
+        <div class="absolute inset-0 bg-black opacity-30"></div>
+        <div class="container mx-auto px-6 relative z-10">
+            <div class="grid md:grid-cols-2 gap-12 items-center">
+                <div class="number-animate">
+                    <div class="inline-block px-4 py-2 bg-white/20 rounded-full mb-6 backdrop-blur-sm">
+                        <span class="text-sm font-semibold">🚀 英伟达Rubin系列确认采用M9材料</span>
+                    </div>
+                    <h1 class="text-5xl md:text-6xl font-bold mb-6 leading-tight">
+                        AI服务器PCB<br>
+                        <span class="gradient-text">材料革命浪潮</span>
+                    </h1>
+                    <p class="text-xl mb-8 text-gray-100">
+                        2026年Rubin系列量产在即，M9等级覆铜板将开启千亿市场空间。钻针、Q布、HVLP4铜箔成最紧缺环节。
+                    </p>
+                    <div class="flex flex-wrap gap-4 mb-8">
+                        <div class="glass-effect px-6 py-3 rounded-xl">
+                            <div class="text-3xl font-bold text-blue-400">5×</div>
+                            <div class="text-sm text-gray-300">钻针需求增长</div>
+                        </div>
+                        <div class="glass-effect px-6 py-3 rounded-xl">
+                            <div class="text-3xl font-bold text-purple-400">78层</div>
+                            <div class="text-sm text-gray-300">正交背板层数</div>
+                        </div>
+                        <div class="glass-effect px-6 py-3 rounded-xl">
+                            <div class="text-3xl font-bold text-pink-400">千亿</div>
+                            <div class="text-sm text-gray-300">市场空间</div>
+                        </div>
+                    </div>
+                    <div class="flex space-x-4">
+                        <button onclick="document.getElementById('overview').scrollIntoView({behavior: 'smooth'})" 
+                                class="px-8 py-3 bg-white text-gray-900 rounded-xl font-semibold hover:bg-gray-100 transition">
+                            深度分析
+                        </button>
+                        <button onclick="document.getElementById('stocks').scrollIntoView({behavior: 'smooth'})" 
+                                class="px-8 py-3 glass-effect rounded-xl font-semibold hover:bg-white/20 transition">
+                            查看标的
+                        </button>
+                    </div>
+                </div>
+                <div class="relative">
+                    <div class="absolute inset-0 bg-gradient-to-r from-blue-500/20 to-purple-500/20 rounded-3xl blur-3xl"></div>
+                    <canvas id="trendChart" class="relative z-10"></canvas>
+                </div>
+            </div>
+        </div>
+        <div class="absolute bottom-10 left-1/2 transform -translate-x-1/2 pulse-dot">
+            <i class="fas fa-chevron-down text-2xl"></i>
+        </div>
+    </section>
+
+    <!-- Core Logic Section -->
+    <section id="overview" class="py-20 px-6">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center mb-12">
+                <h2 class="text-4xl font-bold mb-4">核心逻辑与市场认知</h2>
+                <p class="text-xl text-gray-400">从算力升级到材料革命的必然路径</p>
+            </div>
+            
+            <div class="grid md:grid-cols-3 gap-8 mb-12">
+                <div class="glass-effect rounded-2xl p-8 card-hover">
+                    <div class="w-16 h-16 bg-blue-500/20 rounded-2xl flex items-center justify-center mb-6">
+                        <i class="fas fa-rocket text-2xl text-blue-400"></i>
+                    </div>
+                    <h3 class="text-2xl font-bold mb-4">算力需求爆炸</h3>
+                    <p class="text-gray-400 mb-4">AI模型向万亿参数演进，推理和后训练需求激增</p>
+                    <div class="border-l-4 border-blue-400 pl-4">
+                        <p class="text-sm">2030年AI基础设施市场规模达3-5万亿美元</p>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8 card-hover">
+                    <div class="w-16 h-16 bg-purple-500/20 rounded-2xl flex items-center justify-center mb-6">
+                        <i class="fas fa-network-wired text-2xl text-purple-400"></i>
+                    </div>
+                    <h3 class="text-2xl font-bold mb-4">架构复杂化</h3>
+                    <p class="text-gray-400 mb-4">从铜缆互联到正交背板，PCB层数和集成度要求空前</p>
+                    <div class="border-l-4 border-purple-400 pl-4">
+                        <p class="text-sm">Rubin Ultra: 3块26层合成78层板</p>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8 card-hover">
+                    <div class="w-16 h-16 bg-pink-500/20 rounded-2xl flex items-center justify-center mb-6">
+                        <i class="fas fa-atom text-2xl text-pink-400"></i>
+                    </div>
+                    <h3 class="text-2xl font-bold mb-4">材料革命</h3>
+                    <p class="text-gray-400 mb-4">M9材料组合升级，Q布+HVLP4铜箔+碳氢树脂</p>
+                    <div class="border-l-4 border-pink-400 pl-4">
+                        <p class="text-sm">球形二氧化硅用量翻倍增长</p>
+                    </div>
+                </div>
+            </div>
+
+            <div class="glass-effect rounded-2xl p-8">
+                <h3 class="text-2xl font-bold mb-6">预期差分析</h3>
+                <div class="grid md:grid-cols-2 gap-6">
+                    <div class="border-l-4 border-yellow-400 pl-6">
+                        <h4 class="text-xl font-semibold mb-3 text-yellow-400">时间差</h4>
+                        <p class="text-gray-400">市场憧憬2026年千亿空间，但GB300仅小批量订单，存在2-3季度业绩真空期</p>
+                    </div>
+                    <div class="border-l-4 border-green-400 pl-6">
+                        <h4 class="text-xl font-semibold mb-3 text-green-400">结构性</h4>
+                        <p class="text-gray-400">钻针需求增5倍（200孔/针），其他环节为"极紧"，紧缺程度差异巨大</p>
+                    </div>
+                    <div class="border-l-4 border-red-400 pl-6">
+                        <h4 class="text-xl font-semibold mb-3 text-red-400">确定性</h4>
+                        <p class="text-gray-400">沪电50%份额为预期，Rubin供应商名单仍在角逐，竞争激烈</p>
+                    </div>
+                    <div class="border-l-4 border-blue-400 pl-6">
+                        <h4 class="text-xl font-semibold mb-3 text-blue-400">节奏</h4>
+                        <p class="text-gray-400">11月底Switch tray评估结果将是近期关键催化剂</p>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Timeline Section -->
+    <section id="timeline" class="py-20 px-6 bg-gray-900/50">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center mb-12">
+                <h2 class="text-4xl font-bold mb-4">关键事件时间轴</h2>
+                <p class="text-xl text-gray-400">从概念引爆到业绩兑现的完整路径</p>
+            </div>
+            
+            <div class="relative">
+                <div class="absolute left-1/2 transform -translate-x-1/2 h-full w-1 timeline-line"></div>
+                
+                <div class="space-y-12">
+                    <div class="flex items-center">
+                        <div class="flex-1 text-right pr-8">
+                            <div class="glass-effect rounded-xl p-6 inline-block text-left">
+                                <div class="text-sm text-gray-400 mb-2">2024年Q3及之前</div>
+                                <h3 class="text-xl font-bold mb-2">市场培育期</h3>
+                                <p class="text-gray-400">关注GB200需求，Rubin尚在打样阶段</p>
+                            </div>
+                        </div>
+                        <div class="relative z-10 w-12 h-12 bg-blue-500 rounded-full flex items-center justify-center">
+                            <i class="fas fa-seedling text-white"></i>
+                        </div>
+                        <div class="flex-1 pl-8"></div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="flex-1 pr-8"></div>
+                        <div class="relative z-10 w-12 h-12 bg-purple-500 rounded-full flex items-center justify-center">
+                            <i class="fas fa-fire text-white"></i>
+                        </div>
+                        <div class="flex-1 pl-8">
+                            <div class="glass-effect rounded-xl p-6 inline-block">
+                                <div class="text-sm text-gray-400 mb-2">2024年10月21日</div>
+                                <h3 class="text-xl font-bold mb-2">概念引爆</h3>
+                                <p class="text-gray-400">台媒爆料Rubin采用M9材料，Q布、HVLP4、钻针成紧缺环节</p>
+                            </div>
+                        </div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="flex-1 text-right pr-8">
+                            <div class="glass-effect rounded-xl p-6 inline-block text-left">
+                                <div class="text-sm text-gray-400 mb-2">2024年10-11月</div>
+                                <h3 class="text-xl font-bold mb-2">机构密集发声</h3>
+                                <p class="text-gray-400">国金、中信、广发等发布研报，板块到"超配时间点"</p>
+                            </div>
+                        </div>
+                        <div class="relative z-10 w-12 h-12 bg-pink-500 rounded-full flex items-center justify-center">
+                            <i class="fas fa-chart-line text-white"></i>
+                        </div>
+                        <div class="flex-1 pl-8"></div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="flex-1 pr-8"></div>
+                        <div class="relative z-10 w-12 h-12 bg-yellow-500 rounded-full flex items-center justify-center">
+                            <i class="fas fa-clock text-white"></i>
+                        </div>
+                        <div class="flex-1 pl-8">
+                            <div class="glass-effect rounded-xl p-6 inline-block">
+                                <div class="text-sm text-gray-400 mb-2">2024年11月底</div>
+                                <h3 class="text-xl font-bold mb-2">关键评估节点</h3>
+                                <p class="text-gray-400">Switch tray是否采用M9的评估结果</p>
+                            </div>
+                        </div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="flex-1 text-right pr-8">
+                            <div class="glass-effect rounded-xl p-6 inline-block text-left">
+                                <div class="text-sm text-gray-400 mb-2">2025年H2-2026年</div>
+                                <h3 class="text-xl font-bold mb-2">量产兑现期</h3>
+                                <p class="text-gray-400">Rubin大规模量产，M9产业链迎来业绩高峰</p>
+                            </div>
+                        </div>
+                        <div class="relative z-10 w-12 h-12 bg-green-500 rounded-full flex items-center justify-center">
+                            <i class="fas fa-trophy text-white"></i>
+                        </div>
+                        <div class="flex-1 pl-8"></div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Industry Chain Section -->
+    <section id="industry" class="py-20 px-6">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center mb-12">
+                <h2 class="text-4xl font-bold mb-4">产业链深度剖析</h2>
+                <p class="text-xl text-gray-400">从上游材料到下游设备的全景图谱</p>
+            </div>
+            
+            <div class="grid md:grid-cols-2 lg:grid-cols-4 gap-6 mb-12">
+                <div class="glass-effect rounded-2xl p-6 card-hover">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-lg font-bold">Q布（石英布）</h3>
+                        <span class="px-3 py-1 bg-red-500/20 text-red-400 rounded-full text-xs">极度紧缺</span>
+                    </div>
+                    <div class="space-y-3">
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">菲利华</span>
+                            <span class="text-green-400">全球龙一</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">中材科技</span>
+                            <span class="text-blue-400">电子布满贯</span>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-6 card-hover">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-lg font-bold">HVLP4铜箔</h3>
+                        <span class="px-3 py-1 bg-orange-500/20 text-orange-400 rounded-full text-xs">高度紧缺</span>
+                    </div>
+                    <div class="space-y-3">
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">德福科技</span>
+                            <span class="text-green-400">全球龙二</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">铜冠铜箔</span>
+                            <span class="text-blue-400">进度稍慢</span>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-6 card-hover">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-lg font-bold">钻针</h3>
+                        <span class="px-3 py-1 bg-red-500/20 text-red-400 rounded-full text-xs">最紧缺</span>
+                    </div>
+                    <div class="space-y-3">
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">鼎泰高科</span>
+                            <span class="text-green-400">全球龙一</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">需求变化</span>
+                            <span class="text-yellow-400">5倍提升</span>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-6 card-hover">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-lg font-bold">M9 CCL</h3>
+                        <span class="px-3 py-1 bg-purple-500/20 text-purple-400 rounded-full text-xs">核心环节</span>
+                    </div>
+                    <div class="space-y-3">
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">生益科技</span>
+                            <span class="text-green-400">大陆唯一</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span class="text-gray-400">南亚新材</span>
+                            <span class="text-blue-400">技术领先</span>
+                        </div>
+                    </div>
+                </div>
+            </div>
+            
+            <div class="grid md:grid-cols-3 gap-8">
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-microchip mr-3 text-blue-400"></i>
+                        PCB制造
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">胜宏科技</h4>
+                            <p class="text-sm text-gray-400 mb-2">AI PCB龙头，当前英伟达业务敞口最大</p>
+                            <div class="flex items-center text-xs">
+                                <span class="px-2 py-1 bg-blue-500/20 text-blue-400 rounded">GB200核心供应商</span>
+                                <span class="ml-2 text-gray-500">60%+份额预期</span>
+                            </div>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">沪电股份</h4>
+                            <p class="text-sm text-gray-400 mb-2">正交背板核心预期</p>
+                            <div class="flex items-center text-xs">
+                                <span class="px-2 py-1 bg-purple-500/20 text-purple-400 rounded">Rubin Ultra 50%份额</span>
+                                <span class="ml-2 text-gray-500">再造一个沪电</span>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-tools mr-3 text-purple-400"></i>
+                        PCB设备
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">大族数控</h4>
+                            <p class="text-sm text-gray-400">CCD背钻机替代海外竞品</p>
+                            <div class="flex items-center text-xs mt-2">
+                                <span class="text-green-400">市场份额持续提升</span>
+                            </div>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">芯基微装</h4>
+                            <p class="text-sm text-gray-400">直写光刻技术领先</p>
+                            <div class="flex items-center text-xs mt-2">
+                                <span class="text-blue-400">覆盖PCB全产品市场</span>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-vial mr-3 text-pink-400"></i>
+                        其他材料
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">碳氢树脂</h4>
+                            <p class="text-sm text-gray-400">东材科技 - M9树脂批量供货</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">球形硅微粉</h4>
+                            <p class="text-sm text-gray-400">联瑞新材 - 用量翻倍增长</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">低介电电子布</h4>
+                            <p class="text-sm text-gray-400">宏和科技、国际复材布局</p>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Stocks Table Section -->
+    <section id="stocks" class="py-20 px-6 bg-gray-900/50">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center mb-12">
+                <h2 class="text-4xl font-bold mb-4">核心标的全览</h2>
+                <p class="text-xl text-gray-400">产业链各环节关键公司数据对比</p>
+            </div>
+            
+            <div class="glass-effect rounded-2xl p-6">
+                <div class="mb-6 flex flex-wrap gap-3">
+                    <button onclick="filterCategory('all')" class="px-4 py-2 bg-blue-500 text-white rounded-lg hover:bg-blue-600 transition">
+                        全部
+                    </button>
+                    <button onclick="filterCategory('AI服务器相关')" class="px-4 py-2 glass-effect rounded-lg hover:bg-white/20 transition">
+                        AI服务器
+                    </button>
+                    <button onclick="filterCategory('覆铜板')" class="px-4 py-2 glass-effect rounded-lg hover:bg-white/20 transition">
+                        覆铜板
+                    </button>
+                    <button onclick="filterCategory('HVL')" class="px-4 py-2 glass-effect rounded-lg hover:bg-white/20 transition">
+                        HVLP铜箔
+                    </button>
+                    <button onclick="filterCategory('PCB耗材')" class="px-4 py-2 glass-effect rounded-lg hover:bg-white/20 transition">
+                        PCB耗材
+                    </button>
+                </div>
+                
+                <div class="overflow-x-auto scroll-container">
+                    <table class="w-full text-sm">
+                        <thead>
+                            <tr class="border-b border-gray-700">
+                                <th class="text-left py-3 px-4">股票</th>
+                                <th class="text-left py-3 px-4">分类</th>
+                                <th class="text-left py-3 px-4">项目/规模</th>
+                                <th class="text-left py-3 px-4">产业链位置</th>
+                                <th class="text-left py-3 px-4">核心亮点</th>
+                                <th class="text-left py-3 px-4">资料来源</th>
+                            </tr>
+                        </thead>
+                        <tbody id="stocksTableBody">
+                            <!-- 表格数据将通过JavaScript动态生成 -->
+                        </tbody>
+                    </table>
+                </div>
+            </div>
+            
+            <!-- 推荐组合 -->
+            <div class="mt-12 grid md:grid-cols-3 gap-6">
+                <div class="glass-effect rounded-2xl p-6 border-l-4 border-green-400">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-xl font-bold">首选推荐</h3>
+                        <i class="fas fa-star text-yellow-400"></i>
+                    </div>
+                    <p class="text-gray-400 mb-4">逻辑最纯粹，弹性最大</p>
+                    <div class="space-y-2">
+                        <div class="flex items-center justify-between">
+                            <span>鼎泰高科</span>
+                            <span class="text-green-400 text-sm">钻针全球龙一</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span>菲利华</span>
+                            <span class="text-green-400 text-sm">Q布全球龙一</span>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-6 border-l-4 border-blue-400">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-xl font-bold">稳健配置</h3>
+                        <i class="fas fa-shield-alt text-blue-400"></i>
+                    </div>
+                    <p class="text-gray-400 mb-4">确定性高，份额稳固</p>
+                    <div class="space-y-2">
+                        <div class="flex items-center justify-between">
+                            <span>生益科技</span>
+                            <span class="text-blue-400 text-sm">英伟达CCL核心</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span>胜宏科技</span>
+                            <span class="text-blue-400 text-sm">AI PCB龙头</span>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-6 border-l-4 border-purple-400">
+                    <div class="flex items-center justify-between mb-4">
+                        <h3 class="text-xl font-bold">高弹性标的</h3>
+                        <i class="fas fa-rocket text-purple-400"></i>
+                    </div>
+                    <p class="text-gray-400 mb-4">想象空间大，兑现较晚</p>
+                    <div class="space-y-2">
+                        <div class="flex items-center justify-between">
+                            <span>沪电股份</span>
+                            <span class="text-purple-400 text-sm">正交背板预期</span>
+                        </div>
+                        <div class="flex items-center justify-between">
+                            <span>德福科技</span>
+                            <span class="text-purple-400 text-sm">HVLP4领先</span>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Risks Section -->
+    <section id="risks" class="py-20 px-6">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center mb-12">
+                <h2 class="text-4xl font-bold mb-4">潜在风险与挑战</h2>
+                <p class="text-xl text-gray-400">投资决策必须考虑的关键因素</p>
+            </div>
+            
+            <div class="grid md:grid-cols-2 gap-8">
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-exclamation-triangle mr-3 text-yellow-400"></i>
+                        技术风险
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">M9材料加工难度高</h4>
+                            <p class="text-sm text-gray-400">Q布硬度高、钻针寿命短，影响PCB生产良率和成本</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">技术替代风险</h4>
+                            <p class="text-sm text-gray-400">mSAP工艺、CoWoP封装等颠覆性技术的潜在冲击</p>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-chart-line mr-3 text-red-400"></i>
+                        商业化风险
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">需求递延风险</h4>
+                            <p class="text-sm text-gray-400">宏观经济下行或AI应用落地不及预期</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">成本压力</h4>
+                            <p class="text-sm text-gray-400">M9全产业链升级抬高服务器成本</p>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-globe mr-3 text-blue-400"></i>
+                        政策与竞争风险
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">地缘政治风险</h4>
+                            <p class="text-sm text-gray-400">PCB供应链可能受贸易摩擦冲击</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">日企竞争压力</h4>
+                            <p class="text-sm text-gray-400">日本在高端铜箔、钻针领域仍具领先优势</p>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="glass-effect rounded-2xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 flex items-center">
+                        <i class="fas fa-info-circle mr-3 text-purple-400"></i>
+                        信息验证风险
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">时间差矛盾</h4>
+                            <p class="text-sm text-gray-400">千亿空间是远景，当前GB300订单疲软</p>
+                        </div>
+                        <div class="p-4 bg-gray-800/50 rounded-xl">
+                            <h4 class="font-semibold mb-2">份额不确定性</h4>
+                            <p class="text-sm text-gray-400">各厂商份额仍在激烈争夺中</p>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Footer -->
+    <footer class="py-12 px-6 border-t border-gray-800">
+        <div class="max-w-7xl mx-auto text-center">
+            <p class="text-gray-400 mb-4">数据来源：新闻、路演、专家访谈、上市公司公告</p>
+            <p class="text-sm text-gray-500">投资有风险，本页面仅供参考不构成投资建议</p>
+            <div class="mt-6 flex justify-center space-x-6">
+                <a href="#" class="text-gray-400 hover:text-white transition">
+                    <i class="fab fa-github text-xl"></i>
+                </a>
+                <a href="#" class="text-gray-400 hover:text-white transition">
+                    <i class="fab fa-twitter text-xl"></i>
+                </a>
+                <a href="#" class="text-gray-400 hover:text-white transition">
+                    <i class="fab fa-linkedin text-xl"></i>
+                </a>
+            </div>
+        </div>
+    </footer>
+
+    <script>
+        // 股票数据
+        const stocksData = [
+            {stock: '鹏鼎控股', category: 'AI服务器相关', project: 'PCB：350亿元/99.64%', industry: 'AI服务器', chain: 'HD升级至16~20L水平，已切入全球知名服务器客户供应链', source: '互动'},
+            {stock: '沪电股份', category: 'AI服务器相关', project: 'PCB：128亿元/96.23%', industry: 'AI服务器', chain: 'AI服务器和HPC相关PCB占比约31%', source: '调研'},
+            {stock: '景旺电子', category: 'AI服务器相关', project: 'PCB：120亿元/94.67%', industry: 'AI服务器', chain: '在AI服务器领域已有批量订单出货', source: '互动'},
+            {stock: '深南电路', category: 'AI服务器相关', project: 'PCB：105亿元/58.6%', industry: 'AI服务器', chain: '重点布局数据中心（含服务器）', source: '调研'},
+            {stock: '胜宏科技', category: 'AI服务器相关', project: 'PCB：100亿元/93.66%', industry: 'AI服务器', chain: '推出高阶HDI、高频高速PCB，部分产品已批量供货', source: '互动'},
+            {stock: '生益科技', category: '覆铜板', project: '覆铜板：147.91亿元/72.55%', industry: '覆铜板', chain: '英伟达三大CCL之一，大陆唯一', source: '—'},
+            {stock: '德福科技', category: 'HVL', project: 'HVL铜箔研究的技术突破', industry: 'HVL', chain: '批量出货HVL前三代，第四代送样验证中', source: '互动'},
+            {stock: '鼎泰高科', category: 'PCB耗材', project: 'PCB钻针全球销量市占率26.5%', industry: 'PCB耗材', chain: '全球PCB钻针龙头，月产能9400万支', source: '研报/互动'},
+            {stock: '菲利华', category: '低介电电子布', project: 'Low DK/CTE高端领域布局', industry: '低介电电子布', chain: '全球Q布龙头', source: '公告/研报'},
+            {stock: '东材科技', category: '碳氢树脂', project: '5200吨高频高速特种树脂项目', industry: '碳氢树脂', chain: '国内碳氢树脂龙头，M9树脂批量供货', source: '互动/纪要'},
+        ];
+
+        // 初始化表格
+        function initTable() {
+            const tbody = document.getElementById('stocksTableBody');
+            tbody.innerHTML = '';
+            
+            stocksData.forEach(stock => {
+                const row = document.createElement('tr');
+                row.className = 'border-b border-gray-800 hover:bg-gray-800/50 transition';
+                row.innerHTML = `
+                    <td class="py-3 px-4 font-semibold">${stock.stock}</td>
+                    <td class="py-3 px-4">
+                        <span class="px-2 py-1 bg-blue-500/20 text-blue-400 rounded text-xs">
+                            ${stock.category}
+                        </span>
+                    </td>
+                    <td class="py-3 px-4 text-gray-400">${stock.project}</td>
+                    <td class="py-3 px-4 text-gray-400">${stock.chain}</td>
+                    <td class="py-3 px-4 text-gray-400">${stock.industry}</td>
+                    <td class="py-3 px-4">
+                        <span class="text-xs px-2 py-1 bg-gray-700 rounded">${stock.source}</span>
+                    </td>
+                `;
+                tbody.appendChild(row);
+            });
+        }
+
+        // 筛选功能
+        function filterCategory(category) {
+            const rows = document.querySelectorAll('#stocksTableBody tr');
+            rows.forEach(row => {
+                if (category === 'all') {
+                    row.style.display = '';
+                } else {
+                    const categoryCell = row.querySelector('td:nth-child(2)').textContent;
+                    row.style.display = categoryCell.includes(category) ? '' : 'none';
+                }
+            });
+        }
+
+        // 初始化趋势图表
+        function initTrendChart() {
+            const ctx = document.getElementById('trendChart');
+            if (ctx) {
+                new Chart(ctx, {
+                    type: 'line',
+                    data: {
+                        labels: ['2024Q1', '2024Q2', '2024Q3', '2024Q4', '2025Q1', '2025Q2', '2025Q3', '2025Q4', '2026Q1'],
+                        datasets: [{
+                            label: 'AI PCB市场规模(亿元)',
+                            data: [100, 150, 200, 280, 350, 420, 500, 600, 693],
+                            borderColor: '#3b82f6',
+                            backgroundColor: 'rgba(59, 130, 246, 0.1)',
+                            tension: 0.4,
+                            fill: true
+                        }, {
+                            label: 'M9材料渗透率(%)',
+                            data: [0, 0, 5, 15, 30, 45, 60, 75, 85],
+                            borderColor: '#8b5cf6',
+                            backgroundColor: 'rgba(139, 92, 246, 0.1)',
+                            tension: 0.4,
+                            fill: true
+                        }]
+                    },
+                    options: {
+                        responsive: true,
+                        maintainAspectRatio: false,
+                        plugins: {
+                            legend: {
+                                labels: {
+                                    color: '#fff'
+                                }
+                            }
+                        },
+                        scales: {
+                            x: {
+                                grid: {
+                                    color: 'rgba(255, 255, 255, 0.1)'
+                                },
+                                ticks: {
+                                    color: '#fff'
+                                }
+                            },
+                            y: {
+                                grid: {
+                                    color: 'rgba(255, 255, 255, 0.1)'
+                                },
+                                ticks: {
+                                    color: '#fff'
+                                }
+                            }
+                        }
+                    }
+                });
+            }
+        }
+
+        // 页面加载完成后初始化
+        document.addEventListener('DOMContentLoaded', function() {
+            initTable();
+            initTrendChart();
+            
+            // 平滑滚动
+            document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+                anchor.addEventListener('click', function (e) {
+                    e.preventDefault();
+                    const target = document.querySelector(this.getAttribute('href'));
+                    if (target) {
+                        target.scrollIntoView({
+                            behavior: 'smooth',
+                            block: 'start'
+                        });
+                    }
+                });
+            });
+            
+            // 数字动画效果
+            const observerOptions = {
+                threshold: 0.5
+            };
+            
+            const observer = new IntersectionObserver((entries) => {
+                entries.forEach(entry => {
+                    if (entry.isIntersecting) {
+                        entry.target.classList.add('number-animate');
+                    }
+                });
+            }, observerOptions);
+            
+            document.querySelectorAll('.glass-effect').forEach(el => {
+                observer.observe(el);
+            });
+        });
+    </script>
+</body>
+</html>

public/htmls/AI PC新时代.html

@@ -0,0 +1,816 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI PC新时代 - 行业洞察与投资分析</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css" />
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <!-- DaisyUI -->
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+      color: #e2e8f0;
+    }
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+    }
+    .card-bg {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(148, 163, 184, 0.1);
+    }
+    .progress-bar {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+    }
+    .table-container {
+      overflow-x: auto;
+      -webkit-overflow-scrolling: touch;
+    }
+    .table-container::-webkit-scrollbar {
+      height: 8px;
+    }
+    .table-container::-webkit-scrollbar-track {
+      background: rgba(30, 41, 59, 0.3);
+      border-radius: 4px;
+    }
+    .table-container::-webkit-scrollbar-thumb {
+      background: rgba(59, 130, 246, 0.5);
+      border-radius: 4px;
+    }
+    .table-container::-webkit-scrollbar-thumb:hover {
+      background: rgba(59, 130, 246, 0.7);
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.875rem;
+      }
+    }
+    .tech-pattern {
+      background-image: 
+        radial-gradient(circle at 20% 50%, rgba(59, 130, 246, 0.1) 0%, transparent 50%),
+        radial-gradient(circle at 80% 80%, rgba(139, 92, 246, 0.1) 0%, transparent 50%),
+        radial-gradient(circle at 40% 20%, rgba(14, 165, 233, 0.1) 0%, transparent 50%);
+    }
+  </style>
+</head>
+<body class="tech-pattern">
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题部分 -->
+    <header class="mb-12 text-center">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AI PC新时代</h1>
+      <p class="text-xl text-slate-300 max-w-3xl mx-auto">从技术验证到商业化落地，AI PC引领个人计算革命</p>
+      <div class="mt-6 flex justify-center space-x-4">
+        <span class="px-4 py-2 bg-blue-500/20 text-blue-300 rounded-full text-sm">
+          <i class="fas fa-microchip mr-2"></i>2024年AI PC元年
+        </span>
+        <span class="px-4 py-2 bg-purple-500/20 text-purple-300 rounded-full text-sm">
+          <i class="fas fa-chart-line mr-2"></i>渗透率快速增长
+        </span>
+      </div>
+    </header>
+
+    <!-- 核心观点摘要 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-lightbulb text-yellow-400 mr-3"></i>
+          核心观点摘要
+        </h2>
+        <div class="grid md:grid-cols-3 gap-6">
+          <div class="bg-slate-800/50 p-5 rounded-xl">
+            <h3 class="text-lg font-semibold text-blue-400 mb-3">当前阶段</h3>
+            <p class="text-slate-300">AI PC处于"技术验证→商业化落地"过渡期，2024年是硬件放量元年，2025-2026年将进入渗透率快速提升阶段。</p>
+          </div>
+          <div class="bg-slate-800/50 p-5 rounded-xl">
+            <h3 class="text-lg font-semibold text-purple-400 mb-3">核心驱动力</h3>
+            <p class="text-slate-300">硬件算力突破（NPU集成）+ 软件生态成熟（Copilot/本地大模型）+ 换机周期共振（2020-2021年购机潮进入换机窗口）。</p>
+          </div>
+          <div class="bg-slate-800/50 p-5 rounded-xl">
+            <h3 class="text-lg font-semibold text-green-400 mb-3">未来潜力</h3>
+            <p class="text-slate-300">2027年全球AI PC渗透率或达60%，中国市场更激进（85%），市场规模有望突破千亿美元。</p>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 关键数据亮点 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-chart-bar text-green-400 mr-3"></i>
+          关键数据亮点
+        </h2>
+        <div class="grid md:grid-cols-2 lg:grid-cols-4 gap-6">
+          <div class="text-center">
+            <div class="text-3xl font-bold text-blue-400 mb-2">34 TOPS</div>
+            <p class="text-slate-400 text-sm">英特尔Meteor Lake NPU算力</p>
+          </div>
+          <div class="text-center">
+            <div class="text-3xl font-bold text-purple-400 mb-2">1330万台</div>
+            <p class="text-slate-400 text-sm">2024年Q3 AI PC出货量</p>
+          </div>
+          <div class="text-center">
+            <div class="text-3xl font-bold text-green-400 mb-2">20%</div>
+            <p class="text-slate-400 text-sm">占PC总出货量比例</p>
+          </div>
+          <div class="text-center">
+            <div class="text-3xl font-bold text-yellow-400 mb-2">50%</div>
+            <p class="text-slate-400 text-sm">2026年预计市场份额</p>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 核心驱动力分析 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-cogs text-blue-400 mr-3"></i>
+          核心驱动力分析
+        </h2>
+        <div class="space-y-6">
+          <div class="border-l-4 border-blue-500 pl-4">
+            <h3 class="text-xl font-semibold mb-3 text-blue-400">技术突破</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span><strong>NPU成为标配</strong>：英特尔Meteor Lake（34 TOPS）、AMD Strix Point（50 TOPS）、高通X Elite（75 TOPS）均集成NPU</span>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span><strong>模型压缩技术</strong>：联想将200亿参数大模型压缩至4GB本地运行，解决端侧算力瓶颈</span>
+              </li>
+            </ul>
+          </div>
+          <div class="border-l-4 border-purple-500 pl-4">
+            <h3 class="text-xl font-semibold mb-3 text-purple-400">需求场景刚性化</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span><strong>B端</strong>：企业数据安全需求（如联想展示的本地会议纪要生成）</span>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span><strong>C端</strong>：游戏/办公效率提升（如AI实时攻略、PPT自动生成）</span>
+              </li>
+            </ul>
+          </div>
+          <div class="border-l-4 border-green-500 pl-4">
+            <h3 class="text-xl font-semibold mb-3 text-green-400">政策与生态</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span>微软Copilot+PC定义标准，Windows 12或强制40 TOPS算力要求，倒逼换机</span>
+              </li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 关联股票数据表格 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-table text-purple-400 mr-3"></i>
+          关联股票数据
+        </h2>
+        
+        <!-- AI PC(240321) 表格 -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold mb-4 text-blue-400">AI PC(240321)</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">股票名称</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">行业</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">项目</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">产业链</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">关联理由</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">联想集团（港）</td>
+                  <td class="py-3 px-4 text-slate-300">整机</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC创新峰会</td>
+                  <td class="py-3 px-4 text-slate-300">AMD合作厂商</td>
+                  <td class="py-3 px-4 text-slate-300">AMD将在北京召开AI PC创新峰会，联想作为整机厂商参与</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">亿道信息</td>
+                  <td class="py-3 px-4 text-slate-300">整机</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC创新峰会</td>
+                  <td class="py-3 px-4 text-slate-300">AMD合作厂商</td>
+                  <td class="py-3 px-4 text-slate-300">AMD将在北京召开AI PC创新峰会，亿道信息作为整机厂商参与</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">雷神科技</td>
+                  <td class="py-3 px-4 text-slate-300">整机</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC创新峰会</td>
+                  <td class="py-3 px-4 text-slate-300">AMD合作厂商</td>
+                  <td class="py-3 px-4 text-slate-300">AMD将在北京召开AI PC创新峰会，雷神科技作为整机厂商参与</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">华勤技术</td>
+                  <td class="py-3 px-4 text-slate-300">ODM代工</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC创新峰会</td>
+                  <td class="py-3 px-4 text-slate-300">微软Surface代工</td>
+                  <td class="py-3 px-4 text-slate-300">微软将发布Surface Pro 10和Surface Laptop 6，华勤技术为ODM代工厂商</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">软通动力</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙PC</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙系统适配</td>
+                  <td class="py-3 px-4 text-slate-300">华为生态合作</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙PC生态建设推动AI PC发展</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">智微智能</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙PC</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙系统适配</td>
+                  <td class="py-3 px-4 text-slate-300">华为生态合作</td>
+                  <td class="py-3 px-4 text-slate-300">鸿蒙PC生态建设推动AI PC发展</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">翰博高新</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC显示技术</td>
+                  <td class="py-3 px-4 text-slate-300">面板供应商</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板技术升级支持AI PC发展</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">伟时电子</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC显示技术</td>
+                  <td class="py-3 px-4 text-slate-300">面板供应商</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板技术升级支持AI PC发展</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">龙腾光电</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC显示技术</td>
+                  <td class="py-3 px-4 text-slate-300">面板供应商</td>
+                  <td class="py-3 px-4 text-slate-300">显示面板技术升级支持AI PC发展</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">大为股份</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">佰维存储</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">德明利</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">香农芯创</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">江波龙</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">同有科技</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">朗科科技</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">万润科技</td>
+                  <td class="py-3 px-4 text-slate-300">存储</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC存储方案</td>
+                  <td class="py-3 px-4 text-slate-300">存储芯片供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC对高性能存储需求提升</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">智迪科技</td>
+                  <td class="py-3 px-4 text-slate-300">外设/键鼠</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC外设</td>
+                  <td class="py-3 px-4 text-slate-300">外设供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC配套外设需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">雷柏科技</td>
+                  <td class="py-3 px-4 text-slate-300">外设/键鼠</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC外设</td>
+                  <td class="py-3 px-4 text-slate-300">外设供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC配套外设需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">传艺科技</td>
+                  <td class="py-3 px-4 text-slate-300">外设/键鼠</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC外设</td>
+                  <td class="py-3 px-4 text-slate-300">外设供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC配套外设需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">春秋电子</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">胜利精密</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">英力股份</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">信音电子</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">隆扬电子</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">万祥科技</td>
+                  <td class="py-3 px-4 text-slate-300">结构件</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构件</td>
+                  <td class="py-3 px-4 text-slate-300">结构件供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC结构设计需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">光大同创</td>
+                  <td class="py-3 px-4 text-slate-300">碳纤维</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC材料</td>
+                  <td class="py-3 px-4 text-slate-300">碳纤维供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC轻量化材料需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">珠海冠宇</td>
+                  <td class="py-3 px-4 text-slate-300">电池</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC电池</td>
+                  <td class="py-3 px-4 text-slate-300">电池供应商</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC续航需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">飞荣达</td>
+                  <td class="py-3 px-4 text-slate-300">散热</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热</td>
+                  <td class="py-3 px-4 text-slate-300">散热解决方案</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">中石科技</td>
+                  <td class="py-3 px-4 text-slate-300">散热</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热</td>
+                  <td class="py-3 px-4 text-slate-300">散热解决方案</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">思泉新材</td>
+                  <td class="py-3 px-4 text-slate-300">散热</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热</td>
+                  <td class="py-3 px-4 text-slate-300">散热解决方案</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热需求</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">超频三</td>
+                  <td class="py-3 px-4 text-slate-300">散热</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热</td>
+                  <td class="py-3 px-4 text-slate-300">散热解决方案</td>
+                  <td class="py-3 px-4 text-slate-300">AI PC散热需求</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+
+        <!-- AIPC(240107) 表格 -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-purple-400">AIPC(240107)</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">股票名称</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">行业/产业链</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">业务占比/客户</th>
+                  <th class="text-left py-3 px-4 text-slate-400 font-semibold">关联理由</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">智迪科技</td>
+                  <td class="py-3 px-4 text-slate-300">键盘</td>
+                  <td class="py-3 px-4 text-slate-300">22年键盘收入5.02亿，占营收比53%</td>
+                  <td class="py-3 px-4 text-slate-300">公司键盘业务占营收过半，为核心业务</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">传艺科技</td>
+                  <td class="py-3 px-4 text-slate-300">键盘</td>
+                  <td class="py-3 px-4 text-slate-300">10.06亿，55%</td>
+                  <td class="py-3 px-4 text-slate-300">键盘业务收入及占比</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">雷柏科技</td>
+                  <td class="py-3 px-4 text-slate-300">键盘</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">键盘制造企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">汇创达</td>
+                  <td class="py-3 px-4 text-slate-300">键盘</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">键盘相关业务</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">春秋电子</td>
+                  <td class="py-3 px-4 text-slate-300">键盘</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">键盘制造企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">联想集团</td>
+                  <td class="py-3 px-4 text-slate-300">整机及ODM</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">整机及ODM厂商</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">闻泰科技</td>
+                  <td class="py-3 px-4 text-slate-300">整机及ODM</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">ODM龙头企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">华勤技术</td>
+                  <td class="py-3 px-4 text-slate-300">整机及ODM</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">ODM核心企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">艺道信息</td>
+                  <td class="py-3 px-4 text-slate-300">整机及ODM</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">ODM相关企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">光大同创</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">联想</td>
+                  <td class="py-3 px-4 text-slate-300">零部件供应商，联想供应链企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">春秋电子</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">零部件制造</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">领益智造</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">消费电子零部件</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">瀚博高新</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">半导体零部件</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">莱宝高科</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">显示模组零部件</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">芯海科技</td>
+                  <td class="py-3 px-4 text-slate-300">IC设计</td>
+                  <td class="py-3 px-4 text-slate-300">华为</td>
+                  <td class="py-3 px-4 text-slate-300">IC设计企业，华为供应商</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">龙迅股份</td>
+                  <td class="py-3 px-4 text-slate-300">IC设计</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">IC设计企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">澜起科技</td>
+                  <td class="py-3 px-4 text-slate-300">Intel</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">Intel生态合作伙伴</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">聚辰股份</td>
+                  <td class="py-3 px-4 text-slate-300">Intel</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">内存接口芯片</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">通富微电</td>
+                  <td class="py-3 px-4 text-slate-300">AMD</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">AMD封测供应商</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">光大同创</td>
+                  <td class="py-3 px-4 text-slate-300">联想</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">联想供应链企业</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">芯海科技</td>
+                  <td class="py-3 px-4 text-slate-300">华为</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">华为生态合作伙伴</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">华勤技术</td>
+                  <td class="py-3 px-4 text-slate-300">华为</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">华为ODM供应商</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">软通动力</td>
+                  <td class="py-3 px-4 text-slate-300">华为</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">华为软件服务</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">隆扬电子</td>
+                  <td class="py-3 px-4 text-slate-300">苹果</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">苹果供应链</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/30">
+                  <td class="py-3 px-4 text-slate-300">珠海冠宇</td>
+                  <td class="py-3 px-4 text-slate-300">苹果</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">苹果电池供应商</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 产业链分析 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-sitemap text-green-400 mr-3"></i>
+          产业链分析
+        </h2>
+        <div class="grid md:grid-cols-3 gap-6">
+          <div class="bg-gradient-to-br from-blue-900/30 to-blue-700/20 p-6 rounded-xl">
+            <h3 class="text-xl font-semibold mb-4 text-blue-400">上游</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-center">
+                <i class="fas fa-microchip text-blue-400 mr-2"></i>
+                <span>芯片（Intel/AMD/高通）</span>
+              </li>
+              <li class="flex items-center">
+                <i class="fas fa-memory text-blue-400 mr-2"></i>
+                <span>存储（澜起科技/佰维存储）</span>
+              </li>
+              <li class="flex items-center">
+                <i class="fas fa-temperature-low text-blue-400 mr-2"></i>
+                <span>散热（思泉新材）</span>
+              </li>
+            </ul>
+          </div>
+          <div class="bg-gradient-to-br from-purple-900/30 to-purple-700/20 p-6 rounded-xl">
+            <h3 class="text-xl font-semibold mb-4 text-purple-400">中游</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-center">
+                <i class="fas fa-industry text-purple-400 mr-2"></i>
+                <span>ODM（华勤技术/闻泰科技）</span>
+              </li>
+              <li class="flex items-center">
+                <i class="fas fa-cube text-purple-400 mr-2"></i>
+                <span>结构件（春秋电子/光大同创）</span>
+              </li>
+            </ul>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/30 to-green-700/20 p-6 rounded-xl">
+            <h3 class="text-xl font-semibold mb-4 text-green-400">下游</h3>
+            <ul class="space-y-2 text-slate-300">
+              <li class="flex items-center">
+                <i class="fas fa-laptop text-green-400 mr-2"></i>
+                <span>品牌厂（联想/惠普/戴尔）</span>
+              </li>
+              <li class="flex items-center">
+                <i class="fas fa-code text-green-400 mr-2"></i>
+                <span>软件（微软Copilot/WPS AI）</span>
+              </li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 未来发展路径 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-road text-purple-400 mr-3"></i>
+          未来发展路径
+        </h2>
+        <div class="space-y-6">
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-12 h-12 bg-blue-500/20 rounded-full flex items-center justify-center mr-4">
+              <span class="text-blue-400 font-bold">1</span>
+            </div>
+            <div>
+              <h3 class="text-xl font-semibold mb-2 text-blue-400">2024-2025：硬件放量</h3>
+              <p class="text-slate-300">1亿台目标，Intel/AMD/高通三足鼎立</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-12 h-12 bg-purple-500/20 rounded-full flex items-center justify-center mr-4">
+              <span class="text-purple-400 font-bold">2</span>
+            </div>
+            <div>
+              <h3 class="text-xl font-semibold mb-2 text-purple-400">2026-2027：软件生态成熟</h3>
+              <p class="text-slate-300">AI原生应用占比>50%，价格下探至5000-6000元主流区间</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-12 h-12 bg-green-500/20 rounded-full flex items-center justify-center mr-4">
+              <span class="text-green-400 font-bold">3</span>
+            </div>
+            <div>
+              <h3 class="text-xl font-semibold mb-2 text-green-400">2028+：个人AI助理</h3>
+              <p class="text-slate-300">AI PC成为"个人AI助理"，订阅制服务（如AI OS月费）贡献增量收入</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 潜在风险与挑战 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-exclamation-triangle text-yellow-400 mr-3"></i>
+          潜在风险与挑战
+        </h2>
+        <div class="grid md:grid-cols-2 gap-6">
+          <div class="bg-red-900/20 p-5 rounded-xl border border-red-800/30">
+            <h3 class="text-lg font-semibold mb-3 text-red-400">技术风险</h3>
+            <p class="text-slate-300">模型压缩瓶颈：200亿参数模型压缩至4GB后，复杂任务（如视频生成）效果可能打折扣</p>
+          </div>
+          <div class="bg-orange-900/20 p-5 rounded-xl border border-orange-800/30">
+            <h3 class="text-lg font-semibold mb-3 text-orange-400">商业化风险</h3>
+            <p class="text-slate-300">价格敏感：当前AI PC均价1.5万元，下沉市场接受度低（用户调研阈值±660元）</p>
+          </div>
+          <div class="bg-yellow-900/20 p-5 rounded-xl border border-yellow-800/30">
+            <h3 class="text-lg font-semibold mb-3 text-yellow-400">政策与竞争风险</h3>
+            <p class="text-slate-300">国产化替代：鸿蒙PC+龙芯CPU可能挤压Intel/AMD份额，但生态成熟度存疑</p>
+          </div>
+          <div class="bg-purple-900/20 p-5 rounded-xl border border-purple-800/30">
+            <h3 class="text-lg font-semibold mb-3 text-purple-400">信息矛盾</h3>
+            <p class="text-slate-300">出货量预测：Canalys预测2025年1亿台，但IDC仅预测5000万台</p>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 投资启示 -->
+    <section class="mb-12">
+      <div class="card-bg rounded-2xl p-6 md:p-8 shadow-xl">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-lightbulb text-green-400 mr-3"></i>
+          投资启示
+        </h2>
+        <div class="bg-gradient-to-r from-green-900/20 to-blue-900/20 p-6 rounded-xl mb-6">
+          <h3 class="text-xl font-semibold mb-4 text-green-400">阶段判断</h3>
+          <p class="text-slate-300">AI PC已从主题炒作（2023年Q4）进入基本面驱动（2024年Q2硬件放量），2025年将进入渗透率加速期</p>
+        </div>
+        
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-10 h-10 bg-blue-500/20 rounded-full flex items-center justify-center mr-4 mt-1">
+              <i class="fas fa-star text-blue-400"></i>
+            </div>
+            <div>
+              <h4 class="text-lg font-semibold mb-2 text-blue-400">最确定环节：存储升级</h4>
+              <p class="text-slate-300">澜起科技/佰维存储——AI PC内存从16GB→32GB，DDR5接口芯片量价齐升</p>
+            </div>
+          </div>
+          
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-10 h-10 bg-purple-500/20 rounded-full flex items-center justify-center mr-4 mt-1">
+              <i class="fas fa-rocket text-purple-400"></i>
+            </div>
+            <div>
+              <h4 class="text-lg font-semibold mb-2 text-purple-400">弹性最大：结构件轻量化</h4>
+              <p class="text-slate-300">春秋电子/光大同创——镁合金/碳纤维渗透率提升，单机价值量+20%</p>
+            </div>
+          </div>
+          
+          <div class="flex items-start">
+            <div class="flex-shrink-0 w-10 h-10 bg-green-500/20 rounded-full flex items-center justify-center mr-4 mt-1">
+              <i class="fas fa-chart-line text-green-400"></i>
+            </div>
+            <div>
+              <h4 class="text-lg font-semibold mb-2 text-green-400">预期差：ODM龙头</h4>
+              <p class="text-slate-300">华勤技术——市场低估其AI PC订单占比（30%），2025年业绩弹性显著</p>
+            </div>
+          </div>
+        </div>
+        
+        <div class="mt-6 pt-6 border-t border-slate-700">
+          <h4 class="text-lg font-semibold mb-3 text-yellow-400">跟踪指标</h4>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <p class="text-slate-300"><i class="fas fa-laptop text-blue-400 mr-2"></i>联想AI PC月度出货量</p>
+            </div>
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <p class="text-slate-300"><i class="fas fa-memory text-purple-400 mr-2"></i>DDR5内存价格</p>
+            </div>
+            <div class="bg-slate-800/50 p-4 rounded-lg">
+              <p class="text-slate-300"><i class="fas fa-calendar text-green-400 mr-2"></i>Windows 12发布时间</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- 页脚 -->
+    <footer class="text-center py-8 text-slate-500 text-sm">
+      <p>© 2024 AI PC新时代 - 行业洞察与投资分析</p>
+    </footer>
+  </div>
+
+  <script>
+    // 添加平滑滚动效果
+    document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+      anchor.addEventListener('click', function (e) {
+        e.preventDefault();
+        document.querySelector(this.getAttribute('href')).scrollIntoView({
+          behavior: 'smooth'
+        });
+      });
+    });
+
+    // 添加表格悬停效果
+    document.querySelectorAll('table tr').forEach(row => {
+      row.addEventListener('mouseenter', function() {
+        this.style.backgroundColor = 'rgba(30, 41, 59, 0.5)';
+      });
+      row.addEventListener('mouseleave', function() {
+        this.style.backgroundColor = '';
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI-细分延伸更新.html

@@ -0,0 +1,718 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AI-细分延伸更新概念分析</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #4361ee;
+            --secondary-color: #3f37c9;
+            --accent-color: #4cc9f0;
+            --light-bg: #f8f9fa;
+            --card-shadow: 0 4px 6px rgba(0, 0, 0, 0.1);
+        }
+        
+        body {
+            font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
+            color: #333;
+            background-color: var(--light-bg);
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, var(--primary-color), var(--secondary-color));
+            color: white;
+            padding: 3rem 0;
+            margin-bottom: 2rem;
+        }
+        
+        .section-title {
+            color: var(--secondary-color);
+            font-weight: 600;
+            margin-bottom: 1.5rem;
+            position: relative;
+            padding-bottom: 0.5rem;
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 60px;
+            height: 3px;
+            background-color: var(--accent-color);
+        }
+        
+        .card {
+            border: none;
+            border-radius: 10px;
+            box-shadow: var(--card-shadow);
+            margin-bottom: 1.5rem;
+            transition: transform 0.3s ease;
+        }
+        
+        .card:hover {
+            transform: translateY(-5px);
+        }
+        
+        .card-header {
+            background-color: var(--primary-color);
+            color: white;
+            border-radius: 10px 10px 0 0 !important;
+            font-weight: 500;
+        }
+        
+        .timeline {
+            position: relative;
+            padding-left: 30px;
+        }
+        
+        .timeline::before {
+            content: '';
+            position: absolute;
+            left: 8px;
+            top: 0;
+            height: 100%;
+            width: 2px;
+            background: var(--primary-color);
+        }
+        
+        .timeline-item {
+            position: relative;
+            margin-bottom: 20px;
+        }
+        
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            left: -30px;
+            top: 5px;
+            width: 16px;
+            height: 16px;
+            border-radius: 50%;
+            background: var(--accent-color);
+            border: 2px solid white;
+            box-shadow: 0 0 0 2px var(--primary-color);
+        }
+        
+        .timeline-date {
+            font-weight: 600;
+            color: var(--primary-color);
+            margin-bottom: 5px;
+        }
+        
+        .table-container {
+            overflow-x: auto;
+            margin-bottom: 2rem;
+        }
+        
+        .table {
+            width: 100%;
+            border-collapse: collapse;
+        }
+        
+        .table th {
+            background-color: var(--primary-color);
+            color: white;
+            font-weight: 500;
+            position: sticky;
+            top: 0;
+            z-index: 10;
+        }
+        
+        .table tbody tr:nth-child(even) {
+            background-color: rgba(67, 97, 238, 0.05);
+        }
+        
+        .table tbody tr:hover {
+            background-color: rgba(67, 97, 238, 0.1);
+        }
+        
+        .badge-category {
+            background-color: var(--secondary-color);
+            color: white;
+            padding: 0.4rem 0.8rem;
+            border-radius: 20px;
+            font-size: 0.85rem;
+            margin-right: 0.5rem;
+            display: inline-block;
+            margin-bottom: 0.5rem;
+        }
+        
+        .stat-card {
+            text-align: center;
+            padding: 1.5rem;
+        }
+        
+        .stat-number {
+            font-size: 2rem;
+            font-weight: 700;
+            color: var(--primary-color);
+        }
+        
+        .stat-label {
+            color: #666;
+            font-size: 0.9rem;
+        }
+        
+        .footer {
+            background-color: var(--secondary-color);
+            color: white;
+            padding: 2rem 0;
+            margin-top: 3rem;
+        }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .section-title {
+                font-size: 1.3rem;
+            }
+            
+            .table {
+                font-size: 0.85rem;
+            }
+            
+            .stat-number {
+                font-size: 1.5rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- 头部区域 -->
+    <div class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-md-8">
+                    <h1 class="display-5 fw-bold">AI-细分延伸更新</h1>
+                    <p class="lead">AI技术在各细分领域的延伸应用与更新，从通用技术向垂直行业渗透的全产业链赋能分析</p>
+                </div>
+                <div class="col-md-4 text-md-end mt-3 mt-md-0">
+                    <div class="d-flex justify-content-md-end">
+                        <div class="stat-card me-3">
+                            <div class="stat-number">11+</div>
+                            <div class="stat-label">细分领域</div>
+                        </div>
+                        <div class="stat-card">
+                            <div class="stat-number">50+</div>
+                            <div class="stat-label">核心公司</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <div class="container">
+        <!-- 核心观点摘要 -->
+        <section class="mb-5">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="card">
+                <div class="card-body">
+                    <p class="card-text">"AI-细分延伸更新"概念正处于<strong>技术驱动向商业化应用过渡的关键阶段</strong>，核心驱动力来自大模型技术升级与各行业智能化需求的深度融合。目前，该概念已在算力基础设施（光连接、液冷）、端侧智能硬件（AI眼镜、AIPC）、新能源（储能、超级电容）等多个细分领域展现出明确的商业化路径，未来随着技术迭代和成本下降，有望进一步向更多传统行业渗透，形成更广泛的AI赋能生态。</p>
+                </div>
+            </div>
+        </section>
+
+        <!-- 时间轴 -->
+        <section class="mb-5">
+            <h2 class="section-title">关键事件时间轴</h2>
+            <div class="card">
+                <div class="card-body">
+                    <div class="timeline">
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023年4月</div>
+                            <div>AI-GC（AI生成内容）被认定为处于存量博弈阶段，大模型技术升级（从GPT 3.5向4.0、4.5演进）成为推动内容产业链重塑的核心驱动力。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023年5月</div>
+                            <div>机械行业各细分板块（轨交装备、半导体设备、激光设备、通用设备）的技术升级与智能化应用开始显现AI驱动的延伸方向。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2023年6月</div>
+                            <div>算力产业链的三大延伸方向明确——光连接（后周期需求）、液冷（散热刚需）、边缘算力（离应用最近的场景）。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2024年2月</div>
+                            <div>爱柯迪从中小型通用件向新能源汽车中大件产品延伸，通过一体压铸、半固态压铸等新工艺提升效率。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025年1月</div>
+                            <div>江海股份超级电容器在AI服务器中的应用分析，单机柜价值量约<strong>6万元</strong>，下一代Rubin电源将采用超级电容。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025年3月</div>
+                            <div>端侧AI智能硬件（AI眼镜、AIPC、工业机器人）的发展趋势分析，DeepSeek开源平台降低AI应用门槛。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025年5月</div>
+                            <div>思源电气在储能、新能源等方向的产品力延伸，海外强拓展，2024年海外收入占比达<strong>20%</strong>，研发投入占营收<strong>7.18%</strong>。</div>
+                        </div>
+                        <div class="timeline-item">
+                            <div class="timeline-date">2025年6月</div>
+                            <div>固态电池相关细分领域（材料、结构、工艺、设备）的技术延伸，展示AI在新能源材料研发中的应用。</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 核心驱动力 -->
+        <section class="mb-5">
+            <h2 class="section-title">核心驱动力</h2>
+            <div class="row">
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-cpu me-2"></i>技术突破
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>大模型技术持续升级（GPT 3.5→4.0→4.5）</li>
+                                <li>端侧AI芯片性能提升，本地推理成为可能</li>
+                                <li>液冷、光连接等配套技术进步</li>
+                                <li>超级电容器等新材料在AI服务器中的应用</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-graph-down-arrow me-2"></i>成本下降
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>DeepSeek等开源平台降低AI应用门槛</li>
+                                <li>一体压铸、半固态压铸等新工艺降低生产成本</li>
+                                <li>规模化生产带动AI硬件成本下降</li>
+                                <li>国产替代进程加速，降低关键元器件成本</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-layers me-2"></i>应用场景拓展
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>从消费电子向工业领域延伸</li>
+                                <li>从云端AI向端侧AI延伸</li>
+                                <li>从单一AI应用向全产业链智能化延伸</li>
+                                <li>从通用场景向垂直行业专业化延伸</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 产业链分析 -->
+        <section class="mb-5">
+            <h2 class="section-title">产业链分析</h2>
+            <div class="card">
+                <div class="card-body">
+                    <div class="row">
+                        <div class="col-md-4 mb-3">
+                            <h5 class="text-primary">上游：基础材料与核心元器件</h5>
+                            <p>电子材料（高纯石英砂、石英纤维）、散热材料（氟化液、硅油）、PCB材料（高端药水）、核心元器件（芯片电感）</p>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <h5 class="text-primary">中游：关键技术与设备</h5>
+                            <p>散热技术（两相冷板液冷技术）、连接技术（光连接）、压缩技术（磁悬浮压缩机）、工艺设备（一体压铸设备）</p>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <h5 class="text-primary">下游：应用场景与终端产品</h5>
+                            <p>算力基础设施、端侧智能硬件、工业应用、新能源应用、传统行业应用</p>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 股票数据表格 -->
+        <section class="mb-5">
+            <h2 class="section-title">相关股票数据</h2>
+            <div class="table-container">
+                <table class="table table-striped table-hover">
+                    <thead>
+                        <tr>
+                            <th>股票名称</th>
+                            <th>分类</th>
+                            <th>细分</th>
+                            <th>产业链</th>
+                            <th>项目</th>
+                            <th>原因</th>
+                            <th>消息来源</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr>
+                            <td>天承科技</td>
+                            <td>PCB</td>
+                            <td>药水</td>
+                            <td>PCB生产制造中沉铜和电镀最核心</td>
+                            <td>PCB高端药水国产替代</td>
+                            <td>客户包括胜宏、东山等，终端在NV。孔金属化及电镀高端药水国内目前仅天承一家，高端水平电镀全球唯二、国内唯一。</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>三孚新科</td>
+                            <td>PCB</td>
+                            <td>药水</td>
+                            <td>PCB生产制造中沉铜和电镀最核心</td>
+                            <td>PCB高端药水国产替代</td>
+                            <td>已和胜宏/深南/方正深度合作-公司为胜宏一供，收入占比约8%，新款药水已经开始给胜宏送样。</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>光华科技</td>
+                            <td>PCB</td>
+                            <td>药水</td>
+                            <td>PCB生产制造中沉铜和电镀最核心</td>
+                            <td>PCB高端药水国产替代</td>
+                            <td>PCB高端试剂，深耕PCB化学品。客户包含沪电、深南、胜宏、景旺等</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>菲利华</td>
+                            <td>电子布上游</td>
+                            <td>石英纤维</td>
+                            <td>药水在pcb成本占比约5%</td>
+                            <td>石英纤维放量</td>
+                            <td>6月底布局子公司鼎益新材，明年Q布"锁量"带来的石英纤维放量</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>中材科技</td>
+                            <td>电子布上游</td>
+                            <td>石英纤维</td>
+                            <td>药水在pcb成本占比约5%</td>
+                            <td>石英纤维放量</td>
+                            <td>6月底布局子公司鼎益新材，明年Q布"锁量"带来的石英纤维放量</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>国际复材</td>
+                            <td>电子布上游</td>
+                            <td>石英纤维</td>
+                            <td>药水在pcb成本占比约5%</td>
+                            <td>石英纤维放量</td>
+                            <td>6月底布局子公司鼎益新材，明年Q布"锁量"带来的石英纤维放量</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>石英股份</td>
+                            <td>电子布上游</td>
+                            <td>石英砂</td>
+                            <td>药水在pcb成本占比约5%</td>
+                            <td>高纯石英砂技术突破</td>
+                            <td>在高纯石英砂领域实现技术突破</td>
+                            <td>网传</td>
+                        </tr>
+                        <tr>
+                            <td>龙磁科技</td>
+                            <td>算力核心元件</td>
+                            <td>芯片电感</td>
+                            <td>英飞凌一供</td>
+                            <td>2300w订单</td>
+                            <td>已公告2300w订单，年底有望拿到新增订单，其他功率器件厂商及CSP厂商也在积极验证中</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>铂科新材</td>
+                            <td>算力核心元件</td>
+                            <td>芯片电感</td>
+                            <td>英伟达主供</td>
+                            <td>ASIC供应MPS</td>
+                            <td>英伟达主供，ASIC供应MPS，拿到T1小批量订单，并形成供货</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>顺络电子</td>
+                            <td>算力核心元件</td>
+                            <td>芯片电感</td>
+                            <td>数据中心业务</td>
+                            <td>1-1.3e收入</td>
+                            <td>数据中心业务预计今年贡献1-1.3e收入，国内外客户各一半，主业今年11e利润，明年预计13e利润</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>精智达</td>
+                            <td>算力核心元件</td>
+                            <td>芯片电感</td>
+                            <td>高速测试设备</td>
+                            <td>集成电感技术</td>
+                            <td>高速测试设备集成电感技术</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>英维克</td>
+                            <td>算力核心元件</td>
+                            <td>两相冷板</td>
+                            <td>智算中心散热</td>
+                            <td>泵驱两相冷板液冷技术</td>
+                            <td>将依托航空航天空天新型高效散热技术研制的"泵驱两相冷板液冷技术"应用于智算中心散热</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>高澜股份</td>
+                            <td>算力核心元件</td>
+                            <td>两相冷板</td>
+                            <td>智算中心散热</td>
+                            <td>泵驱两相冷板液冷技术</td>
+                            <td>将依托航空航天空天新型高效散热技术研制的"泵驱两相冷板液冷技术"应用于智算中心散热</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>腾龙股份</td>
+                            <td>液冷</td>
+                            <td>NV柜液冷零部件订单标的</td>
+                            <td>GB订单</td>
+                            <td>25年主业约3e利润</td>
+                            <td>GB订单+25年主业约3e利润</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>东阳光</td>
+                            <td>液冷</td>
+                            <td>上游冷却介质-氟化液</td>
+                            <td>巨化股份</td>
+                            <td>永和股份</td>
+                            <td>东阳光、巨化股份、永和股份、新宙邦、八亿时空、三美股份、昊华科技、东岳集团</td>
+                            <td>券商短文</td>
+                        </tr>
+                        <tr>
+                            <td>磁谷科技</td>
+                            <td>磁悬浮压缩机</td>
+                            <td>国内市场份额第一</td>
+                            <td>磁悬浮技术</td>
+                            <td>核心产品</td>
+                            <td>核心产品均围绕磁悬浮技术，且当前与下游客户对接进展顺利</td>
+                            <td>网传</td>
+                        </tr>
+                        <tr>
+                            <td>汉钟精机</td>
+                            <td>磁悬浮压缩机</td>
+                            <td>国内市场份额第一</td>
+                            <td>磁悬浮压缩机</td>
+                            <td>数据中心液冷系统</td>
+                            <td>台资背景，磁悬浮压缩机适配数据中心液冷系统</td>
+                            <td>网传</td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </section>
+
+        <!-- 未来发展路径 -->
+        <section class="mb-5">
+            <h2 class="section-title">未来发展路径</h2>
+            <div class="row">
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-lightning-charge me-2"></i>近期催化剂（未来3-6个月）
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li><strong>技术发布与升级</strong>：高通8x3芯片正式发布（2025年10月），大模型新版本（如GPT-5）发布</li>
+                                <li><strong>产品落地与放量</strong>：AI眼镜等消费级端侧AI产品规模化上市，江海股份超级电容小批量应用验证</li>
+                                <li><strong>政策与标准</strong>：AI相关法规和标准进一步完善，数据安全、隐私保护政策明确</li>
+                                <li><strong>产业事件</strong>：2025年10月上海"边缘/AI嵌入式展会"，重要客户订单落地</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-compass me-2"></i>长期发展路径
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li><strong>技术演进路径</strong>：大模型持续升级→AI与各行业深度融合→AI成为基础设施</li>
+                                <li><strong>应用拓展路径</strong>：算力基础设施→端侧智能硬件→行业智能化升级→全场景AI生态</li>
+                                <li><strong>市场发展路径</strong>：技术驱动→商业化落地→规模化应用</li>
+                                <li><strong>关键里程碑</strong>：端侧AI设备出货量突破千万台，AI算力成本降至传统算力的1.5倍以内</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 潜在风险与挑战 -->
+        <section class="mb-5">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            <div class="row">
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-exclamation-triangle me-2"></i>技术风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>AI大模型技术瓶颈：推理能力、逻辑思维、多模态融合等方面仍有局限</li>
+                                <li>端侧AI性能限制：算力、功耗、散热等物理限制制约AI性能发挥</li>
+                                <li>配套技术成熟度：液冷技术系统复杂度和维护成本仍是挑战</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-currency-dollar me-2"></i>商业化风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>成本问题：AI硬件成本仍较高，液冷系统初始投资和运维成本高</li>
+                                <li>市场接受度：企业和消费者对AI技术的认知和接受度仍需培养</li>
+                                <li>应用场景落地：部分AI应用场景仍处于概念阶段，实际价值待验证</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-shield-exclamation me-2"></i>政策与竞争风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li>政策监管风险：数据安全、隐私保护、伦理等方面的监管趋严</li>
+                                <li>行业竞争加剧：AI各细分领域吸引大量企业进入，竞争日趋激烈</li>
+                                <li>技术路线风险：AI技术发展迅速，技术路线变化快，选错路线风险高</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 投资启示 -->
+        <section class="mb-5">
+            <h2 class="section-title">投资启示</h2>
+            <div class="card">
+                <div class="card-body">
+                    <h5 class="text-primary mb-3">最具投资价值的细分环节</h5>
+                    <div class="row">
+                        <div class="col-md-6 mb-3">
+                            <div class="badge-category">算力基础设施中的液冷技术</div>
+                            <p>随着AI算力需求增长，传统风冷散热效率不足，液冷成为刚需；技术相对成熟，商业化进程较快；部分企业（如英维克、高澜股份）已开始兑现业绩。</p>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="badge-category">AI服务器中的超级电容</div>
+                            <p>下一代AI服务器电源将采用超级电容，单机柜价值量约6万元；竞争格局好，江海股份等国内企业具备产能和成本优势。</p>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="badge-category">PCB高端药水</div>
+                            <p>PCB是AI硬件的基础，高端药水是生产制造中沉铜和电镀最核心的环节；国产替代空间大，天承科技等国内企业技术领先。</p>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="badge-category">数据中心芯片电感</div>
+                            <p>AI算力需求增长带动芯片电感需求提升；铂科新材等国内企业已进入英伟达等大客户供应链。</p>
+                        </div>
+                    </div>
+                    
+                    <h5 class="text-primary mb-3 mt-4">关键跟踪指标</h5>
+                    <div class="row">
+                        <div class="col-md-4 mb-3">
+                            <h6>技术指标</h6>
+                            <ul>
+                                <li>大模型新版本性能提升</li>
+                                <li>端侧AI芯片性能表现</li>
+                                <li>液冷、光连接技术成本下降</li>
+                            </ul>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <h6>商业化指标</h6>
+                            <ul>
+                                <li>端侧智能硬件出货量</li>
+                                <li>液冷在数据中心渗透率</li>
+                                <li>超级电容实际应用情况</li>
+                            </ul>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <h6>财务指标</h6>
+                            <ul>
+                                <li>相关公司营收增长</li>
+                                <li>研发投入占比</li>
+                                <li>海外市场拓展进展</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+    </div>
+
+    <!-- 页脚 -->
+    <footer class="footer">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <h5>AI-细分延伸更新概念分析</h5>
+                    <p>本报告基于公开信息整理，仅供参考，不构成投资建议。</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p>更新时间：2025年6月</p>
+                    <p>数据来源：券商研报、公司公告、行业新闻</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 添加表格排序功能
+        document.addEventListener('DOMContentLoaded', function() {
+            const table = document.querySelector('.table');
+            const headers = table.querySelectorAll('th');
+            
+            headers.forEach((header, index) => {
+                if (index > 0) { // 跳过第一列"股票名称"
+                    header.style.cursor = 'pointer';
+                    header.addEventListener('click', () => {
+                        sortTable(table, index);
+                    });
+                }
+            });
+            
+            function sortTable(table, columnIndex) {
+                const tbody = table.querySelector('tbody');
+                const rows = Array.from(tbody.querySelectorAll('tr'));
+                
+                // 确定排序方向
+                const isAscending = table.getAttribute('data-sort-direction') !== 'asc';
+                table.setAttribute('data-sort-direction', isAscending ? 'asc' : 'desc');
+                
+                // 排序行
+                rows.sort((a, b) => {
+                    const aValue = a.cells[columnIndex].textContent.trim();
+                    const bValue = b.cells[columnIndex].textContent.trim();
+                    
+                    if (isAscending) {
+                        return aValue.localeCompare(bValue, 'zh-CN');
+                    } else {
+                        return bValue.localeCompare(aValue, 'zh-CN');
+                    }
+                });
+                
+                // 重新排列行
+                rows.forEach(row => tbody.appendChild(row));
+            }
+        });
+    </script>
+</body>
+</html>

public/htmls/AI4S.html

@@ -0,0 +1,625 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AI4S：人工智能驱动的科学研究 - 第五范式</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.11.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #2563eb;
+            --secondary-color: #7c3aed;
+            --accent-color: #06b6d4;
+            --dark-bg: #1e293b;
+            --light-bg: #f8fafc;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, sans-serif;
+            background-color: var(--light-bg);
+            color: #334155;
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, var(--primary-color), var(--secondary-color));
+            color: white;
+            padding: 4rem 0;
+            position: relative;
+            overflow: hidden;
+        }
+        
+        .hero-section::before {
+            content: '';
+            position: absolute;
+            top: 0;
+            left: 0;
+            right: 0;
+            bottom: 0;
+            background: url('data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1440 320"><path fill="%23ffffff" fill-opacity="0.1" d="M0,96L48,112C96,128,192,160,288,160C384,160,480,128,576,122.7C672,117,768,139,864,133.3C960,128,1056,96,1152,90.7C1248,85,1344,107,1392,117.3L1440,128L1440,320L1392,320C1344,320,1248,320,1152,320C1056,320,960,320,864,320C768,320,672,320,576,320C480,320,384,320,288,320C192,320,96,320,48,320L0,320Z"></path></svg>') no-repeat bottom;
+            background-size: cover;
+        }
+        
+        .section-title {
+            font-weight: 700;
+            color: var(--dark-bg);
+            position: relative;
+            padding-bottom: 1rem;
+            margin-bottom: 2rem;
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 60px;
+            height: 4px;
+            background: linear-gradient(90deg, var(--primary-color), var(--accent-color));
+            border-radius: 2px;
+        }
+        
+        .timeline-card {
+            border-left: 3px solid var(--primary-color);
+            padding-left: 1.5rem;
+            margin-bottom: 2rem;
+            position: relative;
+        }
+        
+        .timeline-card::before {
+            content: '';
+            position: absolute;
+            left: -8px;
+            top: 0;
+            width: 14px;
+            height: 14px;
+            border-radius: 50%;
+            background-color: var(--primary-color);
+            border: 3px solid white;
+            box-shadow: 0 0 0 3px rgba(37, 99, 235, 0.2);
+        }
+        
+        .stat-card {
+            background: white;
+            border-radius: 12px;
+            padding: 1.5rem;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            transition: transform 0.3s ease, box-shadow 0.3s ease;
+            height: 100%;
+        }
+        
+        .stat-card:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 10px 20px rgba(0, 0, 0, 0.1);
+        }
+        
+        .stat-number {
+            font-size: 2.5rem;
+            font-weight: 700;
+            color: var(--primary-color);
+            line-height: 1;
+        }
+        
+        .stock-table {
+            background: white;
+            border-radius: 12px;
+            overflow: hidden;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+        }
+        
+        .stock-table th {
+            background-color: var(--dark-bg);
+            color: white;
+            font-weight: 600;
+            padding: 1rem;
+            border: none;
+        }
+        
+        .stock-table td {
+            padding: 1rem;
+            vertical-align: middle;
+            border-color: #e2e8f0;
+        }
+        
+        .badge-category {
+            font-size: 0.875rem;
+            padding: 0.375rem 0.75rem;
+            border-radius: 20px;
+            font-weight: 500;
+        }
+        
+        .badge-business {
+            background-color: #dbeafe;
+            color: #1e40af;
+        }
+        
+        .badge-related {
+            background-color: #e9d5ff;
+            color: #6b21a8;
+        }
+        
+        .pathway-card {
+            background: white;
+            border-radius: 12px;
+            padding: 1.5rem;
+            margin-bottom: 1.5rem;
+            border-left: 4px solid;
+            transition: all 0.3s ease;
+        }
+        
+        .pathway-card.stage-1 {
+            border-left-color: #10b981;
+        }
+        
+        .pathway-card.stage-2 {
+            border-left-color: #3b82f6;
+        }
+        
+        .pathway-card.stage-3 {
+            border-left-color: #8b5cf6;
+        }
+        
+        .risk-card {
+            background: white;
+            border-radius: 12px;
+            padding: 1.5rem;
+            margin-bottom: 1rem;
+            border: 1px solid #e2e8f0;
+            transition: all 0.3s ease;
+        }
+        
+        .risk-card:hover {
+            border-color: var(--primary-color);
+            box-shadow: 0 4px 12px rgba(37, 99, 235, 0.1);
+        }
+        
+        .insight-box {
+            background: linear-gradient(135deg, #f3f4f6, #e5e7eb);
+            border-radius: 12px;
+            padding: 2rem;
+            margin-bottom: 2rem;
+            position: relative;
+            overflow: hidden;
+        }
+        
+        .insight-box::before {
+            content: '"';
+            position: absolute;
+            top: -20px;
+            left: 20px;
+            font-size: 120px;
+            color: rgba(0, 0, 0, 0.05);
+            font-family: Georgia, serif;
+        }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .stat-number {
+                font-size: 2rem;
+            }
+            
+            .stock-table {
+                font-size: 0.875rem;
+            }
+            
+            .stock-table th,
+            .stock-table td {
+                padding: 0.5rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- Hero Section -->
+    <section class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-3">AI4S：人工智能驱动的科学研究</h1>
+                    <p class="lead mb-0">科学研究的第五范式，从知识归纳到知识创造的革命性跃迁</p>
+                </div>
+                <div class="col-lg-4 text-lg-end mt-4 mt-lg-0">
+                    <div class="d-flex flex-column align-items-lg-end">
+                        <div class="stat-card bg-white bg-opacity-10 text-white mb-3">
+                            <div class="stat-number">1400亿$</div>
+                            <div class="small">预计市场规模</div>
+                        </div>
+                        <div class="stat-card bg-white bg-opacity-10 text-white">
+                            <div class="stat-number">25%</div>
+                            <div class="small">研发渗透率目标</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Executive Summary -->
+    <section class="py-5">
+        <div class="container">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="insight-box">
+                <p class="mb-0 fs-5">
+                    AI4S作为科学研究的第五范式，正处于从概念验证向规模化商业化过渡的关键阶段。其核心驱动力在于AI技术与量子计算的结合带来的计算能力革命性提升，以及自动化实验平台形成的数据-算法-实验闭环。随着渗透率从当前的<strong>2.5%</strong>向<strong>25%</strong>迈进，AI4S有望从目前的约<strong>149亿美元</strong>市场成长为年产值突破<strong>1400亿美元</strong>的巨大产业，中国凭借完整的产业链和丰富的应用场景，有望诞生全球领先的AI4S企业。
+                </p>
+            </div>
+        </div>
+    </section>
+
+    <!-- Timeline Section -->
+    <section class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">概念发展时间轴</h2>
+            <div class="row">
+                <div class="col-lg-6">
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2023年</h5>
+                        <ul class="mb-0">
+                            <li>诺贝尔化学奖授予基于AI4S的蛋白质折叠研究</li>
+                            <li>微观纪元与阿尔法纳生物合作研发micro RNA药物设计平台</li>
+                        </ul>
+                    </div>
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2023年12月</h5>
+                        <ul class="mb-0">
+                            <li>宁德时代在香港设立国际研发中心，聚焦AI4S</li>
+                        </ul>
+                    </div>
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2024年</h5>
+                        <ul class="mb-0">
+                            <li>英伟达GTC大会将AI4S列为AI三大关键方向</li>
+                            <li>DeepSeek模型问世，降低AI4S技术门槛</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-lg-6">
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2024年8月</h5>
+                        <ul class="mb-0">
+                            <li>晶泰科技与协鑫集团签署5年战略合作，金额约<strong>10亿元</strong></li>
+                            <li>深势科技与东阳光科技成立AI4S新材料研发联合实验室</li>
+                        </ul>
+                    </div>
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2025年2-3月</h5>
+                        <ul class="mb-0">
+                            <li>镁伽科技推出LABILLION™实验室智慧管理平台</li>
+                            <li>深度原理完成<strong>亿元级</strong>Pre-A轮融资</li>
+                            <li>志特新材与量子科技长三角产业创新中心等达成战略合作</li>
+                        </ul>
+                    </div>
+                    <div class="timeline-card">
+                        <h5 class="text-primary">2025年4月</h5>
+                        <ul class="mb-0">
+                            <li>志特新材与中国科学技术大学共建"功能材料智创实验室"</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Core Logic Section -->
+    <section class="py-5">
+        <div class="container">
+            <h2 class="section-title">核心驱动力分析</h2>
+            <div class="row g-4">
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <div class="d-flex align-items-center mb-3">
+                            <div class="bg-primary bg-opacity-10 rounded-circle p-3 me-3">
+                                <i class="bi bi-cpu text-primary fs-4"></i>
+                            </div>
+                            <h5 class="mb-0">技术突破</h5>
+                        </div>
+                        <ul class="mb-0">
+                            <li>新一代AI神经网络机制</li>
+                            <li>量子计算赋能（指数级计算能力提升）</li>
+                            <li>自动化实验平台（7×24小时高效运行）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <div class="d-flex align-items-center mb-3">
+                            <div class="bg-secondary bg-opacity-10 rounded-circle p-3 me-3">
+                                <i class="bi bi-graph-up text-secondary fs-4"></i>
+                            </div>
+                            <h5 class="mb-0">产业需求</h5>
+                        </div>
+                        <ul class="mb-0">
+                            <li>研发效率瓶颈（药物研发从4-5年缩短至12个月）</li>
+                            <li>复杂系统挑战（多性能耦合、多元素合金体系）</li>
+                            <li>产业升级需求（新能源、半导体等战略性产业）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <div class="d-flex align-items-center mb-3">
+                            <div class="bg-info bg-opacity-10 rounded-circle p-3 me-3">
+                                <i class="bi bi-currency-dollar text-info fs-4"></i>
+                            </div>
+                            <h5 class="mb-0">商业化成熟</h5>
+                        </div>
+                        <ul class="mb-0">
+                            <li>算力成本下降（DeepSeek算力降至原1/10）</li>
+                            <li>数据积累丰富（百万量级高质量材料数据）</li>
+                            <li>商业模式清晰（技术服务、联合实验室、产品销售）</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Stock Data Table -->
+    <section class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">相关股票数据</h2>
+            <div class="table-responsive">
+                <table class="table stock-table">
+                    <thead>
+                        <tr>
+                            <th>股票名称</th>
+                            <th>分类</th>
+                            <th>项目</th>
+                            <th>消息来源</th>
+                            <th>关联原因</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr>
+                            <td><strong>晶泰控股（港）</strong></td>
+                            <td><span class="badge badge-category badge-business">业务相关</span></td>
+                            <td>AI+、机器人+的医药、材料等领域应用，晶体结构预测模型CSP、自由能微扰算法FEP等超过200个AI垂类模型</td>
+                            <td>公开资料</td>
+                            <td>产品涉及AI+、机器人+的医药、材料等领域应用，已积累晶体结构预测模型CSP、自由能微扰算法FEP等超过200个AI垂类模型</td>
+                        </tr>
+                        <tr>
+                            <td><strong>直真科技</strong></td>
+                            <td><span class="badge badge-category badge-business">业务相关</span></td>
+                            <td>联合重庆市科学技术研究院研发"知算"平台，已完成局部测试</td>
+                            <td>官微</td>
+                            <td>联合重庆市科学技术研究院针对AI4S主导研发"知算"平台，已完成局部测试，有望年内发布</td>
+                        </tr>
+                        <tr>
+                            <td><strong>志特新材</strong></td>
+                            <td><span class="badge badge-category badge-business">业务相关</span></td>
+                            <td>与中科大实验室共建AI for Science平台，新材料研发与产业落地，已签4200万美元海外大单</td>
+                            <td>官微</td>
+                            <td>与中科大实验室共建AI for Science平台进行新材料研发与产业落地，AI4S业务已签订4200万美元海外大单</td>
+                        </tr>
+                        <tr>
+                            <td><strong>七匹狼</strong></td>
+                            <td><span class="badge badge-category badge-related">深势科技关联</span></td>
+                            <td>投资北京深势科技（持股0.58%），构建"深势·宇知AI for Science大模型体系"</td>
+                            <td>互动/官网</td>
+                            <td>苏州悦享股权投资合伙企业投资北京深势科技，持股比例0.58%，北京深势科技构建了"深势·宇知AI for Science大模型体系"</td>
+                        </tr>
+                        <tr>
+                            <td><strong>恩华药业</strong></td>
+                            <td><span class="badge badge-category badge-related">深势科技关联</span></td>
+                            <td>与深势科技战略合作，基于AI+分子模拟的药物设计平台</td>
+                            <td>公开资料</td>
+                            <td>与深势科技达成战略合作，利用临床前计算机辅助药物设计平台，将AI+分子模拟的计算范式深度融合到合作研发项目中</td>
+                        </tr>
+                        <tr>
+                            <td><strong>并行科技</strong></td>
+                            <td><span class="badge badge-category badge-related">深势科技关联</span></td>
+                            <td>与深势科技共建"微观尺度工业基础设施"，发布深势宇知®大模型体系</td>
+                            <td>公开资料</td>
+                            <td>与深势科技及多家产业链伙伴共建"微观尺度工业基础设施"，发布了深势宇知®大模型体系</td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </div>
+    </section>
+
+    <!-- Future Development Path -->
+    <section class="py-5">
+        <div class="container">
+            <h2 class="section-title">未来发展路径</h2>
+            <div class="pathway-card stage-1">
+                <div class="d-flex align-items-start">
+                    <div class="bg-success bg-opacity-10 rounded-circle p-2 me-3 mt-1">
+                        <i class="bi bi-1-circle-fill text-success"></i>
+                    </div>
+                    <div>
+                        <h5 class="text-success">第一阶段（当前-2026年）：技术验证与商业模式探索</h5>
+                        <p class="mb-2">AI4S技术在不同领域进行验证，商业模式逐步清晰，头部企业开始形成。</p>
+                        <ul class="mb-0">
+                            <li>药物研发领域渗透率从2.5%提升至5%左右</li>
+                            <li>材料研发成为第二个重点应用领域</li>
+                            <li>量子计算与AI4S结合开始小规模验证</li>
+                            <li>市场规模：约300-500亿美元</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+            
+            <div class="pathway-card stage-2">
+                <div class="d-flex align-items-start">
+                    <div class="bg-primary bg-opacity-10 rounded-circle p-2 me-3 mt-1">
+                        <i class="bi bi-2-circle-fill text-primary"></i>
+                    </div>
+                    <div>
+                        <h5 class="text-primary">第二阶段（2026-2030年）：规模化应用与产业生态形成</h5>
+                        <p class="mb-2">AI4S技术在多个行业实现规模化应用，形成完整产业生态，量子计算开始商业化。</p>
+                        <ul class="mb-0">
+                            <li>药物研发渗透率提升至15%，材料研发达到10%</li>
+                            <li>量子计算实现初步商业化</li>
+                            <li>形成完整产业生态</li>
+                            <li>市场规模：约800-1000亿美元</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+            
+            <div class="pathway-card stage-3">
+                <div class="d-flex align-items-start">
+                    <div class="bg-purple bg-opacity-10 rounded-circle p-2 me-3 mt-1">
+                        <i class="bi bi-3-circle-fill text-purple" style="color: #8b5cf6;"></i>
+                    </div>
+                    <div>
+                        <h5 class="text-purple" style="color: #8b5cf6;">第三阶段（2030-2035年）：全面普及与范式变革</h5>
+                        <p class="mb-2">AI4S成为科学研究的标准范式，量子计算与AI4S深度融合，实现从"知识应用"到"知识创新"的跃迁。</p>
+                        <ul class="mb-0">
+                            <li>研发环节渗透率达到25%，市场规模突破1400亿美元</li>
+                            <li>量子计算与AI4S结合发挥主导作用</li>
+                            <li>推动多个领域实现重大科学突破</li>
+                            <li>中国诞生1-2家全球AI4S龙头企业</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Risks and Challenges -->
+    <section class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            <div class="row g-3">
+                <div class="col-md-6">
+                    <div class="risk-card">
+                        <h6 class="text-danger mb-3"><i class="bi bi-exclamation-triangle me-2"></i>技术风险</h6>
+                        <ul class="mb-0">
+                            <li>数据质量与数量不足（极端工况数据缺乏）</li>
+                            <li>模型可解释性差（"黑盒"特性限制应用）</li>
+                            <li>多尺度建模难度大（原子到宏观尺度耦合）</li>
+                            <li>量子计算技术不成熟（2030年初步商业化）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="risk-card">
+                        <h6 class="text-warning mb-3"><i class="bi bi-currency-exchange me-2"></i>商业化风险</h6>
+                        <ul class="mb-0">
+                            <li>成本高企（算力和自动化实验投入大）</li>
+                            <li>市场接受度不足（AI交互准确率需>90%）</li>
+                            <li>应用场景有限（药物研发为主，其他领域探索中）</li>
+                            <li>商业模式不成熟（定价和价值分享机制待完善）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="risk-card">
+                        <h6 class="text-info mb-3"><i class="bi bi-shield-exclamation me-2"></i>政策与竞争风险</h6>
+                        <ul class="mb-0">
+                            <li>技术出口管制（中美科技竞争背景）</li>
+                            <li>数据安全与隐私保护（生物医药数据敏感）</li>
+                            <li>行业竞争加剧（更多企业进入AI4S领域）</li>
+                            <li>人才竞争激烈（复合型人才稀缺）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="risk-card">
+                        <h6 class="text-secondary mb-3"><i class="bi bi-graph-down me-2"></i>预期差风险</h6>
+                        <ul class="mb-0">
+                            <li>技术成熟度预期差（市场高估当前成熟度）</li>
+                            <li>商业化进度预期差（实际进程慢于预期）</li>
+                            <li>量子计算结合预期差（短期可行性被高估）</li>
+                            <li>中国优势实现预期差（原创能力不足）</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Investment Insights -->
+    <section class="py-5">
+        <div class="container">
+            <h2 class="section-title">投资启示</h2>
+            <div class="row g-4">
+                <div class="col-lg-4">
+                    <div class="stat-card">
+                        <h5 class="text-primary mb-3">投资阶段判断</h5>
+                        <p>AI4S概念已从纯主题炒作阶段进入基本面驱动阶段。投资者应关注具有实质性业务进展和技术壁垒的企业，而非纯概念炒作。</p>
+                    </div>
+                </div>
+                <div class="col-lg-4">
+                    <div class="stat-card">
+                        <h5 class="text-secondary mb-3">最具投资价值方向</h5>
+                        <ul class="mb-0">
+                            <li>AI4S技术平台（晶泰科技、深势科技）</li>
+                            <li>自动化实验设备（镁伽科技）</li>
+                            <li>行业解决方案（药物、材料研发）</li>
+                            <li>量子计算+AI4S（微观纪元）</li>
+                        </ul>
+                    </div>
+                </div>
+                <div class="col-lg-4">
+                    <div class="stat-card">
+                        <h5 class="text-info mb-3">投资策略建议</h5>
+                        <ul class="mb-0">
+                            <li>长期布局，关注技术壁垒企业</li>
+                            <li>分阶段投资，根据发展进程调整</li>
+                            <li>风险控制，分散投资避免过度集中</li>
+                            <li>关注中国优势企业，但重视原创技术</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Footer -->
+    <footer class="bg-dark text-white py-4 mt-5">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <p class="mb-0">© 2025 AI4S概念分析 | 人工智能驱动的科学研究</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">数据来源：公开资料、公司公告、行业研报</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // Add smooth scrolling
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                document.querySelector(this.getAttribute('href')).scrollIntoView({
+                    behavior: 'smooth'
+                });
+            });
+        });
+
+        // Add animation on scroll
+        const observerOptions = {
+            threshold: 0.1,
+            rootMargin: '0px 0px -100px 0px'
+        };
+
+        const observer = new IntersectionObserver(function(entries) {
+            entries.forEach(entry => {
+                if (entry.isIntersecting) {
+                    entry.target.style.opacity = '1';
+                    entry.target.style.transform = 'translateY(0)';
+                }
+            });
+        }, observerOptions);
+
+        // Observe all cards and sections
+        document.querySelectorAll('.stat-card, .timeline-card, .pathway-card, .risk-card').forEach(el => {
+            el.style.opacity = '0';
+            el.style.transform = 'translateY(20px)';
+            el.style.transition = 'opacity 0.6s ease, transform 0.6s ease';
+            observer.observe(el);
+        });
+    </script>
+</body>
+</html>

public/htmls/AIDC供配电设备弹性.html

@@ -0,0 +1,918 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AIDC供配电设备弹性 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+      position: relative;
+      overflow-x: hidden;
+    }
+    
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    
+    .glass-card {
+      background: rgba(255, 255, 255, 0.05);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.37);
+    }
+    
+    .gradient-text {
+      background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .timeline-item {
+      position: relative;
+      padding-left: 40px;
+    }
+    
+    .timeline-item::before {
+      content: '';
+      position: absolute;
+      left: 0;
+      top: 8px;
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 100%);
+    }
+    
+    .timeline-item::after {
+      content: '';
+      position: absolute;
+      left: 5px;
+      top: 20px;
+      width: 2px;
+      height: calc(100% + 10px);
+      background: rgba(139, 92, 246, 0.3);
+    }
+    
+    .timeline-item:last-child::after {
+      display: none;
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.1) 0%, rgba(139, 92, 246, 0.1) 100%);
+      border-left: 4px solid #8b5cf6;
+      padding: 1rem;
+      border-radius: 0.5rem;
+    }
+    
+    table {
+      width: 100%;
+      border-collapse: collapse;
+    }
+    
+    th, td {
+      padding: 0.75rem;
+      text-align: left;
+      border-bottom: 1px solid rgba(255, 255, 255, 0.1);
+    }
+    
+    th {
+      background: rgba(139, 92, 246, 0.1);
+      font-weight: 600;
+      color: #e2e8f0;
+    }
+    
+    tr:hover {
+      background: rgba(255, 255, 255, 0.05);
+    }
+    
+    .stock-up {
+      color: #10b981;
+    }
+    
+    .stock-down {
+      color: #ef4444;
+    }
+    
+    .industry-chain {
+      display: flex;
+      align-items: center;
+      justify-content: space-between;
+      flex-wrap: wrap;
+      gap: 1rem;
+    }
+    
+    .chain-node {
+      background: rgba(59, 130, 246, 0.1);
+      border: 1px solid rgba(59, 130, 246, 0.3);
+      border-radius: 0.5rem;
+      padding: 0.75rem 1rem;
+      position: relative;
+      flex: 1;
+      min-width: 120px;
+      text-align: center;
+    }
+    
+    .chain-arrow {
+      color: #8b5cf6;
+      font-size: 1.5rem;
+    }
+    
+    @media (max-width: 768px) {
+      .industry-chain {
+        flex-direction: column;
+      }
+      
+      .chain-arrow {
+        transform: rotate(90deg);
+      }
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题区域 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-white mb-4">
+        <span class="gradient-text">AIDC供配电设备弹性</span>
+      </h1>
+      <p class="text-gray-300 text-lg max-w-3xl mx-auto">
+        AI数据中心供配电设备行业深度分析 - 把握算力军备竞赛下的投资机遇
+      </p>
+    </div>
+    
+    <!-- 概念事件时间线 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-purple-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 8v4l3 3m6-3a9 9 0 11-18 0 9 9 0 0118 0z"></path>
+        </svg>
+        概念事件时间线
+      </h2>
+      <div class="space-y-4">
+        <div class="timeline-item">
+          <div class="text-purple-400 font-semibold">2024Q2</div>
+          <div class="text-gray-300">字节跳动启动1-2GW级AIDC招标（乌兰察布、宣化等地），单机房功率≥30MW，触发产业链需求拐点。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-purple-400 font-semibold">2024Q3</div>
+          <div class="text-gray-300">阿里、腾讯资本开支同比转正，AI芯片需求激增（豆包日均token从5月12亿→12月400亿）。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-purple-400 font-semibold">2024Q4</div>
+          <div class="text-gray-300">柴油发电机涨价30%+（1830kW机型从140万→250万），交付周期延至2026年。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-purple-400 font-semibold">2025Q1</div>
+          <div class="text-gray-300">英伟达GTC大会明确800V HVDC为下一代标准，Meta/微软/谷歌同步推进。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-purple-400 font-semibold">2025Q2</div>
+          <div class="text-gray-300">国内政策要求新建数据中心PUE≤1.3，液冷渗透率强制提升至50%。</div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-blue-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12h6m-6 4h6m2 5H7a2 2 0 01-2-2V5a2 2 0 012-2h5.586a1 1 0 01.707.293l5.414 5.414a1 1 0 01.293.707V19a2 2 0 01-2 2z"></path>
+        </svg>
+        核心观点摘要
+      </h2>
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="highlight-box">
+          <h3 class="text-lg font-semibold text-white mb-2">阶段判断</h3>
+          <p class="text-gray-300">AIDC供配电设备处于需求爆发初期（2024Q2启动），由AI算力军备竞赛驱动，量价齐升逻辑刚启动。</p>
+        </div>
+        <div class="highlight-box">
+          <h3 class="text-lg font-semibold text-white mb-2">核心驱动力</h3>
+          <p class="text-gray-300">功率密度跃升（单机柜从10kW→1MW）+ 技术路线切换（UPS→HVDC→固态变压器）+ 国产替代加速。</p>
+        </div>
+        <div class="highlight-box">
+          <h3 class="text-lg font-semibold text-white mb-2">未来潜力</h3>
+          <p class="text-gray-300">2025-2028年全球AIDC新增装机CAGR 73%，供配电设备市场空间从2024年400亿→2028年1200亿。</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心驱动力分析 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-green-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 10V3L4 14h7v7l9-11h-7z"></path>
+        </svg>
+        核心驱动力分析
+      </h2>
+      <div class="grid md:grid-cols-3 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-3">技术迭代</h3>
+          <ul class="space-y-2 text-gray-300">
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>功率密度革命：单机柜功率从传统IDC的5-10kW跃升至AIDC的100-1000kW</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>架构简化：HVDC替代UPS（效率从90%→98%）</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>固态变压器（SST）10kV直转800V直流，体积减少50%</span>
+            </li>
+          </ul>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-3">供需错配</h3>
+          <ul class="space-y-2 text-gray-300">
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>柴油发电机：全球产能缺口1500台/年</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>国产替代率从30%→70%（潍柴/玉柴扩产）</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>液冷系统：2025年需求77亿→2027年164亿（CAGR 33%）</span>
+            </li>
+          </ul>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-3">政策强制</h3>
+          <ul class="space-y-2 text-gray-300">
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>中国要求2025年后新建数据中心50%采用液冷</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>PUE≤1.3硬性指标</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-green-400 mr-2">•</span>
+              <span>运营商白皮书推动行业标准升级</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 市场热度与情绪 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-yellow-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 19v-6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2a2 2 0 002-2zm0 0V9a2 2 0 012-2h2a2 2 0 012 2v10m-6 0a2 2 0 002 2h2a2 2 0 002-2m0 0V5a2 2 0 012-2h2a2 2 0 012 2v14a2 2 0 01-2 2h-2a2 2 0 01-2-2z"></path>
+        </svg>
+        市场热度与情绪
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold text-white mb-3">研报密度</h3>
+          <p class="text-gray-300 mb-4">2024Q4以来每周2-3篇深度报告聚焦供配电环节（柴发/HVDC/液冷）</p>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <canvas id="reportChart" width="400" height="200"></canvas>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold text-white mb-3">股价表现</h3>
+          <div class="space-y-3">
+            <div class="flex justify-between items-center p-3 bg-gray-800 rounded-lg">
+              <span class="text-gray-300">潍柴重机（柴发）</span>
+              <span class="stock-up font-semibold">+278%</span>
+            </div>
+            <div class="flex justify-between items-center p-3 bg-gray-800 rounded-lg">
+              <span class="text-gray-300">中恒电气（HVDC）</span>
+              <span class="stock-up font-semibold">+32%</span>
+            </div>
+            <div class="mt-4 p-3 bg-yellow-900/20 border border-yellow-700/50 rounded-lg">
+              <p class="text-yellow-300 text-sm">
+                <strong>分歧点：</strong>市场担忧单位算力投资下降（DeepSeek效应），但路演显示总量需求不降反升（更多玩家入场）
+              </p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 预期差分析 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-red-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 9v2m0 4h.01m-6.938 4h13.856c1.54 0 2.502-1.667 1.732-3L13.732 4c-.77-1.333-2.694-1.333-3.464 0L3.34 16c-.77 1.333.192 3 1.732 3z"></path>
+        </svg>
+        预期差分析
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="w-full">
+          <thead>
+            <tr>
+              <th>市场共识</th>
+              <th>潜在预期差</th>
+              <th>验证数据</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="text-gray-300">UPS将被HVDC完全替代</td>
+              <td class="text-gray-300">UPS与HVDC长期共存（金融/医疗仍需UPS）</td>
+              <td class="text-gray-300">西部电新路演：UPS市占率仍>80%</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300">柴油发电机仅备用电源</td>
+              <td class="text-gray-300">燃气轮机+柴发混合供电成主流</td>
+              <td class="text-gray-300">银河电新：北美70%数据中心采用燃气轮机主供</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300">液冷仅用于超算</td>
+              <td class="text-gray-300">冷板式液冷已下沉至30kW机柜</td>
+              <td class="text-gray-300">曙光数创：2025年液冷渗透率50%</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 催化剂与发展路径 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-indigo-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 7h8m0 0v8m0-8l-8 8-4-4-6 6"></path>
+        </svg>
+        关键催化剂与未来发展路径
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-4">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-indigo-400 font-semibold mb-1">字节跳动2025Q2招标</h4>
+              <p class="text-gray-300 text-sm">预计释放2GW订单（芜湖300MW基地），柴发/HVDC/液冷供应商直接受益</p>
+            </div>
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-indigo-400 font-semibold mb-1">英伟达GB200量产</h4>
+              <p class="text-gray-300 text-sm">2025Q3出货，800V HVDC配套需求验证（台达/麦格米特）</p>
+            </div>
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-indigo-400 font-semibold mb-1">国产燃气轮机首台套交付</h4>
+              <p class="text-gray-300 text-sm">应流股份/万泽股份2025Q4交付数据中心用H级燃机</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-4">长期发展路径</h3>
+          <div class="space-y-3">
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-purple-400 font-semibold mb-1">2025-2026</h4>
+              <p class="text-gray-300 text-sm">技术路线混战（UPS vs HVDC vs SST），价格战→龙头集中</p>
+            </div>
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-purple-400 font-semibold mb-1">2027-2028</h4>
+              <p class="text-gray-300 text-sm">固态变压器商业化，10kV直转800V直流，配电系统体积再降50%</p>
+            </div>
+            <div class="p-4 bg-gray-800 rounded-lg">
+              <h4 class="text-purple-400 font-semibold mb-1">2029+</h4>
+              <p class="text-gray-300 text-sm">微电网+储能成为标配，绿电直供比例>30%（腾讯/宁德时代试点）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 产业链图谱 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-cyan-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M4 5a1 1 0 011-1h14a1 1 0 011 1v2a1 1 0 01-1 1H5a1 1 0 01-1-1V5zM4 13a1 1 0 011-1h6a1 1 0 011 1v6a1 1 0 01-1 1H5a1 1 0 01-1-1v-6zM16 13a1 1 0 011-1h2a1 1 0 011 1v6a1 1 0 01-1 1h-2a1 1 0 01-1-1v-6z"></path>
+        </svg>
+        产业链图谱
+      </h2>
+      <div class="industry-chain">
+        <div class="chain-node">
+          <div class="text-cyan-400 font-semibold">上游</div>
+          <div class="text-gray-300 text-sm">发动机（潍柴/玉柴）</div>
+          <div class="text-gray-300 text-sm">IGBT（斯达半导）</div>
+          <div class="text-gray-300 text-sm">铜材（金田铜业）</div>
+        </div>
+        <div class="chain-arrow">→</div>
+        <div class="chain-node">
+          <div class="text-cyan-400 font-semibold">中游</div>
+          <div class="text-gray-300 text-sm">柴发（科泰电源/泰豪科技）</div>
+          <div class="text-gray-300 text-sm">HVDC（中恒电气/禾望电气）</div>
+          <div class="text-gray-300 text-sm">液冷（英维克/高澜股份）</div>
+        </div>
+        <div class="chain-arrow">→</div>
+        <div class="chain-node">
+          <div class="text-cyan-400 font-semibold">下游</div>
+          <div class="text-gray-300 text-sm">IDC运营商（润泽科技/万国数据）</div>
+          <div class="text-gray-300 text-sm">云厂商（阿里/腾讯/字节）</div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心玩家对比 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-pink-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M17 20h5v-2a3 3 0 00-5.356-1.857M17 20H7m10 0v-2c0-.656-.126-1.283-.356-1.857M7 20H2v-2a3 3 0 015.356-1.857M7 20v-2c0-.656.126-1.283.356-1.857m0 0a5.002 5.002 0 019.288 0M15 7a3 3 0 11-6 0 3 3 0 016 0zm6 3a2 2 0 11-4 0 2 2 0 014 0zM7 10a2 2 0 11-4 0 2 2 0 014 0z"></path>
+        </svg>
+        核心玩家对比
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="w-full">
+          <thead>
+            <tr>
+              <th>公司</th>
+              <th>环节</th>
+              <th>竞争优势</th>
+              <th>风险点</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="text-gray-300 font-semibold">潍柴重机</td>
+              <td class="text-gray-300">柴发</td>
+              <td class="text-gray-300">国产唯一大缸径发动机（市占率75%）</td>
+              <td class="text-gray-300">利润率受原材料涨价挤压</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">中恒电气</td>
+              <td class="text-gray-300">HVDC</td>
+              <td class="text-gray-300">阿里巴拿马电源独供（技术壁垒）</td>
+              <td class="text-gray-300">客户集中度过高（阿里50%+）</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">英维克</td>
+              <td class="text-gray-300">液冷</td>
+              <td class="text-gray-300">冷板市占率40%（绑定腾讯/字节）</td>
+              <td class="text-gray-300">价格战导致毛利率下滑</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">金盘科技</td>
+              <td class="text-gray-300">变压器</td>
+              <td class="text-gray-300">干变龙头（数据中心订单+70%）</td>
+              <td class="text-gray-300">产能扩张不及预期</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 风险分析 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-orange-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 9v2m0 4h.01m-6.938 4h13.856c1.54 0 2.502-1.667 1.732-3L13.732 4c-.77-1.333-2.694-1.333-3.464 0L3.34 16c-.77 1.333.192 3 1.732 3z"></path>
+        </svg>
+        潜在风险与挑战
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="w-full">
+          <thead>
+            <tr>
+              <th>风险类型</th>
+              <th>具体表现</th>
+              <th>影响程度</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="text-gray-300">技术风险</td>
+              <td class="text-gray-300">SST固态变压器绝缘等级未突破10kV</td>
+              <td class="text-red-400 font-semibold">高</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300">商业化风险</td>
+              <td class="text-gray-300">液冷改造成本过高（为风冷3倍）</td>
+              <td class="text-yellow-400 font-semibold">中</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300">政策风险</td>
+              <td class="text-gray-300">美国对华AI芯片限制升级（H20禁售）</td>
+              <td class="text-red-400 font-semibold">高</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300">信息矛盾</td>
+              <td class="text-gray-300">研报预测2025年HVDC市场79亿 vs 路演反馈仅50亿</td>
+              <td class="text-yellow-400 font-semibold">中</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 投资启示 -->
+    <div class="glass-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-emerald-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12l2 2 4-4m5.618-4.016A11.955 11.955 0 0112 2.944a11.955 11.955 0 01-8.618 3.04A12.02 12.02 0 003 9c0 5.591 3.824 10.29 9 11.622 5.176-1.332 9-6.03 9-11.622 0-1.042-.133-2.052-.382-3.016z"></path>
+        </svg>
+        综合结论与投资启示
+      </h2>
+      <div class="space-y-4">
+        <div class="highlight-box">
+          <h3 class="text-lg font-semibold text-white mb-2">阶段判断</h3>
+          <p class="text-gray-300">基本面驱动初期（订单兑现+涨价验证），非主题炒作</p>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold text-white mb-3">高弹性细分</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="bg-gray-800 rounded-lg p-4">
+              <h4 class="text-emerald-400 font-semibold mb-2">柴油发电机</h4>
+              <p class="text-gray-300 text-sm mb-2">潍柴重机/科泰电源</p>
+              <p class="text-gray-300 text-sm">量价齐升+国产替代，2025年利润弹性>100%</p>
+            </div>
+            <div class="bg-gray-800 rounded-lg p-4">
+              <h4 class="text-emerald-400 font-semibold mb-2">HVDC</h4>
+              <p class="text-gray-300 text-sm mb-2">中恒电气/禾望电气</p>
+              <p class="text-gray-300 text-sm">技术替代+客户绑定，2025年渗透率从10%→30%</p>
+            </div>
+            <div class="bg-gray-800 rounded-lg p-4">
+              <h4 class="text-emerald-400 font-semibold mb-2">液冷二次侧</h4>
+              <p class="text-gray-300 text-sm mb-2">英维克/高澜股份</p>
+              <p class="text-gray-300 text-sm">政策强制+价值量占比60%，2025年市场空间翻倍</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold text-white mb-3">关键跟踪指标</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="flex items-center p-3 bg-gray-800 rounded-lg">
+              <svg class="w-5 h-5 mr-2 text-blue-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 19v-6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2a2 2 0 002-2zm0 0V9a2 2 0 012-2h2a2 2 0 012 2v10m-6 0a2 2 0 002 2h2a2 2 0 002-2m0 0V5a2 2 0 012-2h2a2 2 0 012 2v14a2 2 0 01-2 2h-2a2 2 0 01-2-2z"></path>
+              </svg>
+              <div>
+                <div class="text-white font-semibold">柴发价格</div>
+                <div class="text-gray-400 text-sm">康明斯/潍柴月度报价（当前+15%）</div>
+              </div>
+            </div>
+            <div class="flex items-center p-3 bg-gray-800 rounded-lg">
+              <svg class="w-5 h-5 mr-2 text-purple-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5H7a2 2 0 00-2 2v12a2 2 0 002 2h10a2 2 0 002-2V7a2 2 0 00-2-2h-2M9 5a2 2 0 002 2h2a2 2 0 002-2M9 5a2 2 0 012-2h2a2 2 0 012 2"></path>
+              </svg>
+              <div>
+                <div class="text-white font-semibold">HVDC招标</div>
+                <div class="text-gray-400 text-sm">阿里/腾讯2025Q2招标量（需≥10亿元）</div>
+              </div>
+            </div>
+            <div class="flex items-center p-3 bg-gray-800 rounded-lg">
+              <svg class="w-5 h-5 mr-2 text-cyan-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M7 12l3-3 3 3 4-4M8 21l4-4 4 4M3 4h18M4 4h16v12a1 1 0 01-1 1H5a1 1 0 01-1-1V4z"></path>
+              </svg>
+              <div>
+                <div class="text-white font-semibold">液冷渗透率</div>
+                <div class="text-gray-400 text-sm">运营商集采中液冷占比（2025年目标50%）</div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 股票数据表格 -->
+    <div class="glass-card rounded-xl p-6">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <svg class="w-6 h-6 mr-2 text-green-400" fill="none" stroke="currentColor" viewBox="0 0 24 24">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 19v-6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2a2 2 0 002-2zm0 0V9a2 2 0 012-2h2a2 2 0 012 2v10m-6 0a2 2 0 002 2h2a2 2 0 002-2m0 0V5a2 2 0 012-2h2a2 2 0 012 2v14a2 2 0 01-2 2h-2a2 2 0 01-2-2z"></path>
+        </svg>
+        关联股票数据
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="w-full text-sm">
+          <thead>
+            <tr>
+              <th>股票</th>
+              <th>产业链</th>
+              <th>AIDC业务市值</th>
+              <th>传统业务市值</th>
+              <th>目标市值</th>
+              <th>股价空间</th>
+              <th>25-28年AIDC收入</th>
+              <th>25-28年AIDC净利润</th>
+              <th>25-28年AIDC峰值收入</th>
+              <th>25-28年AIDC峰值净利润</th>
+              <th>AIDC业务PE</th>
+              <th>投资理由</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="text-gray-300 font-semibold">中恒电气</td>
+              <td class="text-gray-300">HVDC</td>
+              <td class="text-gray-300">99</td>
+              <td class="text-gray-300">40</td>
+              <td class="text-gray-300">139</td>
+              <td class="stock-up font-semibold">32%</td>
+              <td class="text-gray-300">56.52</td>
+              <td class="text-gray-300">5.65</td>
+              <td class="text-gray-300">28.26</td>
+              <td class="text-gray-300">2.83</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">AIDC业务占比高，股价弹性较大</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">科华数据</td>
+              <td class="text-gray-300">UPS/HVDC</td>
+              <td class="text-gray-300">141</td>
+              <td class="text-gray-300">120</td>
+              <td class="text-gray-300">261</td>
+              <td class="stock-up font-semibold">19%</td>
+              <td class="text-gray-300">53.64</td>
+              <td class="text-gray-300">8.05</td>
+              <td class="text-gray-300">26.82</td>
+              <td class="text-gray-300">4.02</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">传统业务稳定，AIDC业务增长潜力较大</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">科士达</td>
+              <td class="text-gray-300">UPS</td>
+              <td class="text-gray-300">111</td>
+              <td class="text-gray-300">120</td>
+              <td class="text-gray-300">231</td>
+              <td class="stock-up font-semibold">35%</td>
+              <td class="text-gray-300">42.12</td>
+              <td class="text-gray-300">6.32</td>
+              <td class="text-gray-300">21.06</td>
+              <td class="text-gray-300">3.16</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">AIDC业务占比高，股价弹性显著</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">雄韬股份</td>
+              <td class="text-gray-300">UPS/HVDC</td>
+              <td class="text-gray-300">44</td>
+              <td class="text-gray-300">50</td>
+              <td class="text-gray-300">94</td>
+              <td class="stock-up font-semibold">31%</td>
+              <td class="text-gray-300">16.85</td>
+              <td class="text-gray-300">2.53</td>
+              <td class="text-gray-300">8.42</td>
+              <td class="text-gray-300">1.26</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">AIDC业务增速较快，股价弹性较高</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">南都电源</td>
+              <td class="text-gray-300">UPS</td>
+              <td class="text-gray-300">100</td>
+              <td class="text-gray-300">100</td>
+              <td class="text-gray-300">200</td>
+              <td class="stock-up font-semibold">19%</td>
+              <td class="text-gray-300">31.59</td>
+              <td class="text-gray-300">5.69</td>
+              <td class="text-gray-300">15.8</td>
+              <td class="text-gray-300">2.84</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">AIDC与传统业务均衡发展</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">欧陆通</td>
+              <td class="text-gray-300">服务器电源</td>
+              <td class="text-gray-300">221</td>
+              <td class="text-gray-300">50</td>
+              <td class="text-gray-300">271</td>
+              <td class="stock-up font-semibold">69%</td>
+              <td class="text-gray-300">84.24</td>
+              <td class="text-gray-300">12.64</td>
+              <td class="text-gray-300">42.12</td>
+              <td class="text-gray-300">6.32</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">AIDC业务占比极高，股价弹性最大</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">玉柴国际</td>
+              <td class="text-gray-300">柴发发电机</td>
+              <td class="text-gray-300">74</td>
+              <td class="text-gray-300">30</td>
+              <td class="text-gray-300">104</td>
+              <td class="stock-up font-semibold">92%</td>
+              <td class="text-gray-300">25.27</td>
+              <td class="text-gray-300">3.29</td>
+              <td class="text-gray-300">12.64</td>
+              <td class="text-gray-300">1.64</td>
+              <td class="text-gray-300">45</td>
+              <td class="text-gray-300">AIDC业务增速最快，股价弹性最高</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">潍柴重机</td>
+              <td class="text-gray-300">柴发发电机</td>
+              <td class="text-gray-300">74</td>
+              <td class="text-gray-300">40</td>
+              <td class="text-gray-300">114</td>
+              <td class="stock-up font-semibold">31%</td>
+              <td class="text-gray-300">25.27</td>
+              <td class="text-gray-300">3.29</td>
+              <td class="text-gray-300">12.64</td>
+              <td class="text-gray-300">1.64</td>
+              <td class="text-gray-300">45</td>
+              <td class="text-gray-300">AIDC业务增速较快，股价弹性较高</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">泰豪科技</td>
+              <td class="text-gray-300">柴发OEM</td>
+              <td class="text-gray-300">49</td>
+              <td class="text-gray-300">35</td>
+              <td class="text-gray-300">84</td>
+              <td class="stock-up font-semibold">19%</td>
+              <td class="text-gray-300">16.85</td>
+              <td class="text-gray-300">2.19</td>
+              <td class="text-gray-300">8.42</td>
+              <td class="text-gray-300">1.1</td>
+              <td class="text-gray-300">45</td>
+              <td class="text-gray-300">AIDC业务增速稳定</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">明阳电气</td>
+              <td class="text-gray-300">变压器/开关柜</td>
+              <td class="text-gray-300">105</td>
+              <td class="text-gray-300">130</td>
+              <td class="text-gray-300">235</td>
+              <td class="stock-up font-semibold">37%</td>
+              <td class="text-gray-300">70.2</td>
+              <td class="text-gray-300">8.42</td>
+              <td class="text-gray-300">35.1</td>
+              <td class="text-gray-300">4.21</td>
+              <td class="text-gray-300">25</td>
+              <td class="text-gray-300">AIDC业务占比高，股价弹性较大</td>
+            </tr>
+            <tr>
+              <td class="text-gray-300 font-semibold">金盘科技</td>
+              <td class="text-gray-300">变压器/开关柜</td>
+              <td class="text-gray-300">132</td>
+              <td class="text-gray-300">170</td>
+              <td class="text-gray-300">302</td>
+              <td class="stock-up font-semibold">57%</td>
+              <td class="text-gray-300">52.65</td>
+              <td class="text-gray-300">10.53</td>
+              <td class="text-gray-300">26.33</td>
+              <td class="text-gray-300">5.27</td>
+              <td class="text-gray-300">25</td>
+              <td class="text-gray-300">AIDC业务增速较快，股价弹性显著</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+  
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: ["#3b82f6", "#8b5cf6", "#10b981"]
+        },
+        shape: {
+          type: "circle",
+          stroke: {
+            width: 0,
+            color: "#000000"
+          }
+        },
+        opacity: {
+          value: 0.5,
+          random: false,
+          anim: {
+            enable: false,
+            speed: 1,
+            opacity_min: 0.1,
+            sync: false
+          }
+        },
+        size: {
+          value: 3,
+          random: true,
+          anim: {
+            enable: false,
+            speed: 40,
+            size_min: 0.1,
+            sync: false
+          }
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#8b5cf6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false,
+          attract: {
+            enable: false,
+            rotateX: 600,
+            rotateY: 1200
+          }
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+    
+    // 初始化研报密度图表
+    const ctx = document.getElementById('reportChart').getContext('2d');
+    const reportChart = new Chart(ctx, {
+      type: 'line',
+      data: {
+        labels: ['2024Q1', '2024Q2', '2024Q3', '2024Q4', '2025Q1'],
+        datasets: [{
+          label: '研报数量（篇/周）',
+          data: [0.5, 1, 1.5, 2.5, 3],
+          borderColor: '#8b5cf6',
+          backgroundColor: 'rgba(139, 92, 246, 0.1)',
+          tension: 0.4,
+          fill: true
+        }]
+      },
+      options: {
+        responsive: true,
+        maintainAspectRatio: false,
+        plugins: {
+          legend: {
+            labels: {
+              color: '#e2e8f0'
+            }
+          }
+        },
+        scales: {
+          x: {
+            grid: {
+              color: 'rgba(255, 255, 255, 0.1)'
+            },
+            ticks: {
+              color: '#e2e8f0'
+            }
+          },
+          y: {
+            grid: {
+              color: 'rgba(255, 255, 255, 0.1)'
+            },
+            ticks: {
+              color: '#e2e8f0'
+            }
+          }
+        }
+      }
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI军工.html

@@ -0,0 +1,958 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI军工概念分析</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <!-- Nucleo Icons -->
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/nucleo-icons.css" rel="stylesheet" />
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/nucleo-svg.css" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- CSS Files -->
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/soft-design-system-pro.min.css?v=1.2.0" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background-color: #0f172a;
+      color: #e2e8f0;
+      overflow-x: hidden;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+    }
+    .card {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(100, 116, 139, 0.3);
+    }
+    .timeline-dot {
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+      position: absolute;
+      left: -8px;
+      top: 5px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 21px;
+      bottom: 0;
+      width: 2px;
+      background-color: #334155;
+    }
+    .highlight {
+      color: #60a5fa;
+      font-weight: 600;
+    }
+    .table-responsive {
+      overflow-x: auto;
+    }
+    .table {
+      width: 100%;
+      color: #e2e8f0;
+    }
+    .table th {
+      background-color: rgba(30, 41, 59, 0.9);
+      color: #94a3b8;
+      font-weight: 600;
+      text-transform: uppercase;
+      font-size: 0.75rem;
+      padding: 0.75rem;
+    }
+    .table td {
+      padding: 0.75rem;
+      border-top: 1px solid rgba(100, 116, 139, 0.2);
+    }
+    .badge {
+      display: inline-block;
+      padding: 0.25rem 0.5rem;
+      font-size: 0.75rem;
+      font-weight: 600;
+      border-radius: 0.25rem;
+    }
+    .badge-blue {
+      background-color: rgba(59, 130, 246, 0.2);
+      color: #60a5fa;
+    }
+    .badge-green {
+      background-color: rgba(34, 197, 94, 0.2);
+      color: #4ade80;
+    }
+    .badge-purple {
+      background-color: rgba(168, 85, 247, 0.2);
+      color: #a78bfa;
+    }
+    .badge-amber {
+      background-color: rgba(245, 158, 11, 0.2);
+      color: #fbbf24;
+    }
+    .card-title {
+      color: #f1f5f9;
+      font-weight: 700;
+      margin-bottom: 1rem;
+    }
+    .card-subtitle {
+      color: #94a3b8;
+      font-weight: 500;
+      margin-bottom: 0.5rem;
+    }
+    .section-title {
+      color: #f1f5f9;
+      font-weight: 700;
+      font-size: 1.5rem;
+      margin-bottom: 1.5rem;
+      position: relative;
+      display: inline-block;
+    }
+    .section-title:after {
+      content: '';
+      position: absolute;
+      bottom: -8px;
+      left: 0;
+      width: 50px;
+      height: 3px;
+      background-color: #3b82f6;
+    }
+    .timeline-item {
+      position: relative;
+      padding-left: 24px;
+      margin-bottom: 1.5rem;
+    }
+    .timeline-date {
+      color: #60a5fa;
+      font-weight: 600;
+      margin-bottom: 0.25rem;
+    }
+    .timeline-content {
+      color: #cbd5e1;
+    }
+    .quote {
+      border-left: 3px solid #3b82f6;
+      padding-left: 1rem;
+      margin: 1rem 0;
+      color: #cbd5e1;
+    }
+    .risk-item {
+      margin-bottom: 0.75rem;
+      position: relative;
+      padding-left: 1.5rem;
+    }
+    .risk-item:before {
+      content: '⚠️';
+      position: absolute;
+      left: 0;
+    }
+    .conclusion-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.2) 0%, rgba(99, 102, 241, 0.2) 100%);
+      border: 1px solid rgba(59, 130, 246, 0.3);
+      border-radius: 0.5rem;
+      padding: 1.5rem;
+      margin-top: 2rem;
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    @media (max-width: 768px) {
+      .table-responsive {
+        overflow-x: scroll;
+      }
+      .section-title {
+        font-size: 1.25rem;
+      }
+    }
+  </style>
+</head>
+<body class="gradient-bg">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-white mb-4">AI军工概念分析</h1>
+      <p class="text-lg text-blue-300 max-w-3xl mx-auto">人工智能与军事科技融合的新纪元，从技术验证到订单落地的关键转型期</p>
+    </div>
+
+    <!-- 概念概述 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">概念概述</h2>
+      <p class="text-lg mb-4">AI军工是指将人工智能技术应用于军事领域的产业生态，涵盖智能无人装备、军事指挥控制系统、战场数据分析等多个方向。当前，AI军工已从技术验证阶段进入订单落地初期，预计2025-2027年将迎来采购高峰。</p>
+      <div class="quote">
+        <p class="text-lg">AI军工的胜负手不在算法，而在<span class="highlight">谁能先拿到军方数据+低成本量产订单</span>。</p>
+      </div>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">概念事件</h2>
+      <div class="relative pl-6">
+        <div class="timeline-line"></div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="timeline-date">2024年8月</div>
+          <div class="timeline-content">马斯克访问西点军校，强调"AI+无人机是未来战争核心"，引发全球对军事AI的战略关注。</div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="timeline-date">2024年12月</div>
+          <div class="timeline-content">美国Palantir市值突破<span class="highlight">2714亿美元</span>，超越洛克希德·马丁（996亿美元），成为军工AI商业化标杆。</div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="timeline-date">2025年2月</div>
+          <div class="timeline-content">美国国防部启动"复制者计划"，计划2025年8月前部署<span class="highlight">数千个AI驱动的无人系统</span>；中国军方密集调研寒武纪、科大讯飞等企业，推动国产军工大模型落地。</div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="timeline-date">2025年3月</div>
+          <div class="timeline-content">中国《军队装备科研条例》正式实施，明确"AI+无人装备"为"十五五"规划重点；能科科技披露<span class="highlight">2024年军工AI订单3亿元</span>，2025-2026年预计增至<span class="highlight">6亿/11亿元</span>。</div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">核心观点摘要</h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <div class="w-10 h-10 rounded-full bg-blue-500 bg-opacity-20 flex items-center justify-center mr-3">
+              <i class="fas fa-chart-line text-blue-400"></i>
+            </div>
+            <h3 class="text-lg font-semibold">阶段判断</h3>
+          </div>
+          <p>AI军工已从"技术验证"进入"订单落地"初期，中美同步加速，中国2025-2027年或迎<span class="highlight">军工AI采购高峰</span>。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <div class="w-10 h-10 rounded-full bg-green-500 bg-opacity-20 flex items-center justify-center mr-3">
+              <i class="fas fa-rocket text-green-400"></i>
+            </div>
+            <h3 class="text-lg font-semibold">核心驱动力</h3>
+          </div>
+          <p>政策（"十四五"收官+"十五五"规划）+ 实战需求（俄乌战争验证AI效能）+ 技术成熟（国产芯片/大模型突破）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-5">
+          <div class="flex items-center mb-3">
+            <div class="w-10 h-10 rounded-full bg-purple-500 bg-opacity-20 flex items-center justify-center mr-3">
+              <i class="fas fa-globe text-purple-400"></i>
+            </div>
+            <h3 class="text-lg font-semibold">未来潜力</h3>
+          </div>
+          <p>全球军事AI市场<span class="highlight">2023-2028年CAGR 33.3%</span>（MarketsandMarkets），中国军工AI渗透率不足5%，替代空间巨大。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">核心逻辑与市场认知分析</h2>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">核心驱动力</h3>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-6">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 flex items-center">
+            <i class="fas fa-landmark text-blue-400 mr-2"></i>政策强制
+          </h4>
+          <p>中国2025年国防预算<span class="highlight">1.77-1.79万亿元</span>（同比+6-7%），明确向"智能化"倾斜；美军2025年AI预算<span class="highlight">178亿美元</span>（+45%）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 flex items-center">
+            <i class="fas fa-shield-alt text-green-400 mr-2"></i>实战验证
+          </h4>
+          <p>俄乌战争中，AI使乌军"发现-打击"周期从<span class="highlight">12小时压缩至1分钟</span>（Palantir Maven系统）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 flex items-center">
+            <i class="fas fa-microchip text-purple-400 mr-2"></i>技术拐点
+          </h4>
+          <p>国产GPU（景嘉微）、FPGA（紫光国微）突破英伟达封锁，DeepSeek等开源模型降低军工AI部署成本<span class="highlight">80%</span>（路演数据）。</p>
+        </div>
+      </div>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">市场热度</h3>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-6">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 flex items-center">
+            <i class="fas fa-file-alt text-amber-400 mr-2"></i>研报密度
+          </h4>
+          <p>2025年2-3月，中信、广发、长江等<span class="highlight">10+家券商</span>发布AI军工专题，提及标的<span class="highlight">超50家</span>。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 flex items-center">
+            <i class="fas fa-balance-scale text-amber-400 mr-2"></i>情绪分化
+          </h4>
+          <p>机构乐观（能科科技50倍PS估值），但路演显示<span class="highlight">军工AI订单仍以小批量试点为主</span>（如振芯科技3.2亿框架协议仅占其营收30%）。</p>
+        </div>
+      </div>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">预期差</h3>
+      <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+        <div class="mb-3">
+          <h4 class="font-semibold mb-1">市场忽略点</h4>
+          <p>军工AI的核心壁垒是<span class="highlight">数据闭环</span>（如712所LVC训练体系积累5000万+样本），而非单纯算法；<span class="highlight">低成本蜂群武器</span>（如Anduril梭鱼导弹）可能颠覆传统装备估值逻辑。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">关键催化剂与未来发展路径</h2>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">近期催化剂（3-6个月）</h3>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-6">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <div class="w-8 h-8 rounded-full bg-blue-500 bg-opacity-20 flex items-center justify-center mr-2">
+              <span class="text-blue-400 font-bold">1</span>
+            </div>
+            <h4 class="font-semibold">2025年6月</h4>
+          </div>
+          <p>中国"十五五"军工规划草案或明确<span class="highlight">无人装备采购量</span>（市场预期无人机蜂群<span class="highlight">10万架级</span>）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <div class="w-8 h-8 rounded-full bg-blue-500 bg-opacity-20 flex items-center justify-center mr-2">
+              <span class="text-blue-400 font-bold">2</span>
+            </div>
+            <h4 class="font-semibold">2025年Q3</h4>
+          </div>
+          <p>能科科技、中科星图等披露<span class="highlight">军工AI大单</span>（需验证是否达预期）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <div class="flex items-center mb-2">
+            <div class="w-8 h-8 rounded-full bg-blue-500 bg-opacity-20 flex items-center justify-center mr-2">
+              <span class="text-blue-400 font-bold">3</span>
+            </div>
+            <h4 class="font-semibold">2025年8月</h4>
+          </div>
+          <p>美国"复制者计划"首批<span class="highlight">AI无人机中队</span>部署，或刺激中国对标采购。</p>
+        </div>
+      </div>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">长期路径</h3>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2">2025-2027年</h4>
+          <p>军工AI从"单点应用"（如目标识别）向<span class="highlight">体系化作战</span>（OODA全链路AI化）升级。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2">2028-2030年</h4>
+          <p><span class="highlight">软件定义制造</span>（如Anduril Arsenal-1工厂）或在中国复制，推动<span class="highlight">低成本智能武器</span>规模化（单价或降至<span class="highlight">1万美元以下</span>）。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">产业链与核心公司深度剖析</h2>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">产业链图谱</h3>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-6">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-3 text-center text-blue-300">上游</h4>
+          <ul class="space-y-2">
+            <li class="flex items-center">
+              <i class="fas fa-microchip text-blue-400 mr-2"></i>
+              <span>算力芯片（景嘉微GPU、紫光国微FPGA）</span>
+            </li>
+            <li class="flex items-center">
+              <i class="fas fa-satellite-dish text-blue-400 mr-2"></i>
+              <span>传感器（睿创微纳红外）</span>
+            </li>
+            <li class="flex items-center">
+              <i class="fas fa-database text-blue-400 mr-2"></i>
+              <span>数据（中科星图遥感）</span>
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-3 text-center text-green-300">中游</h4>
+          <ul class="space-y-2">
+            <li class="flex items-center">
+              <i class="fas fa-brain text-green-400 mr-2"></i>
+              <span>算法平台（能科科技军工大模型）</span>
+            </li>
+            <li class="flex items-center">
+              <i class="fas fa-vr-cardboard text-green-400 mr-2"></i>
+              <span>仿真AI（华如科技）</span>
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-3 text-center text-purple-300">下游</h4>
+          <ul class="space-y-2">
+            <li class="flex items-center">
+              <i class="fas fa-helicopter text-purple-400 mr-2"></i>
+              <span>无人装备（航天彩虹无人机）</span>
+            </li>
+            <li class="flex items-center">
+              <i class="fas fa-robot text-purple-400 mr-2"></i>
+              <span>无人战车（内蒙一机）</span>
+            </li>
+            <li class="flex items-center">
+              <i class="fas fa-satellite text-purple-400 mr-2"></i>
+              <span>指控系统（科思科技火控AI）</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+      
+      <h3 class="text-xl font-semibold mb-4 text-blue-300">核心玩家对比</h3>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-slate-800 bg-opacity-50 rounded-lg">
+          <thead>
+            <tr>
+              <th class="py-3 px-4 text-left">公司</th>
+              <th class="py-3 px-4 text-left">卡位优势</th>
+              <th class="py-3 px-4 text-left">风险点</th>
+              <th class="py-3 px-4 text-left">估值逻辑</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-t border-slate-700">
+              <td class="py-3 px-4 font-semibold">能科科技</td>
+              <td class="py-3 px-4">华为军工AI唯一合作方，订单<span class="highlight">3→11亿</span></td>
+              <td class="py-3 px-4">客户集中度高（依赖H公司）</td>
+              <td class="py-3 px-4">50倍PS（对标Palantir）</td>
+            </tr>
+            <tr class="border-t border-slate-700">
+              <td class="py-3 px-4 font-semibold">科思科技</td>
+              <td class="py-3 px-4">指控系统+自组网芯片，数据壁垒深</td>
+              <td class="py-3 px-4">研发进度可能滞后</td>
+              <td class="py-3 px-4">32倍PS（2024E）</td>
+            </tr>
+            <tr class="border-t border-slate-700">
+              <td class="py-3 px-4 font-semibold">中科星图</td>
+              <td class="py-3 px-4">数字地球+AI，军方数据授权稀缺</td>
+              <td class="py-3 px-4">民用业务占比高，军工订单波动</td>
+              <td class="py-3 px-4">卫星互联网溢价</td>
+            </tr>
+            <tr class="border-t border-slate-700">
+              <td class="py-3 px-4 font-semibold">振芯科技</td>
+              <td class="py-3 px-4">机器狗视觉"大脑"，3.2亿订单验证</td>
+              <td class="py-3 px-4">订单可持续性存疑</td>
+              <td class="py-3 px-4">军工机器人主题炒作</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+      
+      <h3 class="text-xl font-semibold mb-4 mt-6 text-blue-300">验证与证伪</h3>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 text-amber-300">数据矛盾</h4>
+          <p>广发研报称"军工AI企业市值超洛马"，但<span class="highlight">国内军工AI收入占比普遍<10%</span>（如紫光国微AI芯片收入未单列）。</p>
+        </div>
+        
+        <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+          <h4 class="font-semibold mb-2 text-amber-300">技术风险</h4>
+          <p>国产GPU（景嘉微）性能仅为英伟达A100的<span class="highlight">30%</span>，可能限制大模型部署规模。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">潜在风险与挑战</h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">技术风险</h3>
+          <div class="risk-item">
+            <p><span class="highlight">算法黑箱</span>：军事AI需可解释性，当前大模型决策逻辑不透明（如DeepSeek军事化版本未开源）。</p>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">商业化风险</h3>
+          <div class="risk-item">
+            <p><span class="highlight">成本悖论</span>：低成本蜂群武器（如Anduril梭鱼）需百万级量产才经济，中国军工采购习惯小批量高端，可能抑制需求。</p>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">政策风险</h3>
+          <div class="risk-item">
+            <p><span class="highlight">伦理争议</span>：联合国正讨论限制自主武器公约，或影响AI军工出口（如中国无人机军贸）。</p>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">信息矛盾</h3>
+          <div class="risk-item">
+            <p><span class="highlight">订单口径</span>：能科科技"3亿订单"为框架协议，实际落地可能分3年执行，存在收入确认延迟风险。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">综合结论与投资启示</h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3 text-blue-300">阶段判断</h3>
+        <p>AI军工处于<span class="highlight">主题炒作向基本面过渡</span>阶段，2025年Q3订单验证是关键分水岭。</p>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3 text-blue-300">高价值细分</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-database text-green-400 mr-2"></i>数据闭环型公司
+            </h4>
+            <p>如中科星图、712所关联企业——壁垒最深，估值弹性大。</p>
+          </div>
+          
+          <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-fighter-jet text-purple-400 mr-2"></i>低成本蜂群武器供应链
+            </h4>
+            <p>如航天彩虹+配套芯片——政策催化强，但需跟踪量产节奏。</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-3 text-blue-300">跟踪指标</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-clipboard-list text-amber-400 mr-2"></i>订单密度
+            </h4>
+            <p>2025年军工AI相关合同公告金额（需<span class="highlight">单季度超10亿</span>确认景气）。</p>
+          </div>
+          
+          <div class="bg-slate-800 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-microchip text-amber-400 mr-2"></i>芯片国产化率
+            </h4>
+            <p>国产GPU在军工AI项目中的<span class="highlight">渗透率</span>（当前<5%，目标2026年30%）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="conclusion-box">
+        <p class="text-lg font-semibold">一句话总结：AI军工的胜负手不在算法，而在<span class="highlight">谁能先拿到军方数据+低成本量产订单</span>。</p>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="section-title">关联股票</h2>
+      <div class="table-responsive">
+        <table class="table">
+          <thead>
+            <tr>
+              <th>股票名称</th>
+              <th>分类</th>
+              <th>行业</th>
+              <th>关联原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td>景嘉微</td>
+              <td><span class="badge badge-blue">基础底座-算力</span></td>
+              <td>半导体/芯片</td>
+              <td>提供GPU芯片，属于AI军工算力基础设施</td>
+            </tr>
+            <tr>
+              <td>复旦微电</td>
+              <td><span class="badge badge-blue">基础底座-算力</span></td>
+              <td>半导体/芯片</td>
+              <td>提供存储芯片和FPGA芯片，支撑AI算力</td>
+            </tr>
+            <tr>
+              <td>成都华微</td>
+              <td><span class="badge badge-blue">基础底座-算力</span></td>
+              <td>半导体/芯片</td>
+              <td>提供FPGA芯片，属于AI算力核心部件</td>
+            </tr>
+            <tr>
+              <td>航宇微</td>
+              <td><span class="badge badge-blue">基础底座-算力</span></td>
+              <td>半导体/芯片</td>
+              <td>提供SOC芯片，支撑AI计算</td>
+            </tr>
+            <tr>
+              <td>索辰科技</td>
+              <td><span class="badge badge-green">基础底座-算法</span></td>
+              <td>软件/算法</td>
+              <td>专注于仿真算法研发</td>
+            </tr>
+            <tr>
+              <td>华如科技</td>
+              <td><span class="badge badge-green">基础底座-算法</span></td>
+              <td>软件/算法</td>
+              <td>提供军事仿真算法解决方案</td>
+            </tr>
+            <tr>
+              <td>能科科技</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>提供工业数据采集与分析服务</td>
+            </tr>
+            <tr>
+              <td>航锦科技</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>涉及军工数据处理业务</td>
+            </tr>
+            <tr>
+              <td>观想科技</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>专注于装备数据管理</td>
+            </tr>
+            <tr>
+              <td>兴图新科</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>提供视频数据处理技术</td>
+            </tr>
+            <tr>
+              <td>佳缘科技</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>涉及军工数据安全</td>
+            </tr>
+            <tr>
+              <td>邦彦技术</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>提供军工通信数据系统</td>
+            </tr>
+            <tr>
+              <td>格灵深瞳</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>AI视觉数据分析</td>
+            </tr>
+            <tr>
+              <td>品高股份</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>提供云计算与数据服务</td>
+            </tr>
+            <tr>
+              <td>中科星图</td>
+              <td><span class="badge badge-purple">基础底座-数据</span></td>
+              <td>数据服务</td>
+              <td>地理空间数据处理</td>
+            </tr>
+            <tr>
+              <td>复旦微电</td>
+              <td><span class="badge badge-amber">端侧芯片</span></td>
+              <td>半导体/芯片</td>
+              <td>存储芯片供应商</td>
+            </tr>
+            <tr>
+              <td>成都华微</td>
+              <td><span class="badge badge-amber">端侧芯片</span></td>
+              <td>半导体/芯片</td>
+              <td>FPGA芯片设计</td>
+            </tr>
+            <tr>
+              <td>航宇微</td>
+              <td><span class="badge badge-amber">端侧芯片</span></td>
+              <td>半导体/芯片</td>
+              <td>SOC芯片供应商</td>
+            </tr>
+            <tr>
+              <td>紫光国微</td>
+              <td><span class="badge badge-amber">端侧芯片</span></td>
+              <td>半导体/芯片</td>
+              <td>ASIC芯片设计</td>
+            </tr>
+            <tr>
+              <td>景嘉微</td>
+              <td><span class="badge badge-amber">端侧芯片</span></td>
+              <td>半导体/芯片</td>
+              <td>GPU芯片研发</td>
+            </tr>
+            <tr>
+              <td>七一二</td>
+              <td><span class="badge badge-blue">特种通信</span></td>
+              <td>通信设备</td>
+              <td>军工通信设备制造商</td>
+            </tr>
+            <tr>
+              <td>海格通信</td>
+              <td><span class="badge badge-blue">特种通信</span></td>
+              <td>通信设备</td>
+              <td>军用通信系统供应商</td>
+            </tr>
+            <tr>
+              <td>移远通信</td>
+              <td><span class="badge badge-blue">特种通信</span></td>
+              <td>通信设备</td>
+              <td>物联网通信模块</td>
+            </tr>
+            <tr>
+              <td>振芯科技</td>
+              <td><span class="badge badge-blue">特种通信</span></td>
+              <td>通信设备</td>
+              <td>北斗导航与通信</td>
+            </tr>
+            <tr>
+              <td>建设工业</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>军工机器人研发</td>
+            </tr>
+            <tr>
+              <td>晶品特装</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>军用机器人制造商</td>
+            </tr>
+            <tr>
+              <td>新兴装备</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>无人机/机器人系统</td>
+            </tr>
+            <tr>
+              <td>四川长虹</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>军工电子设备</td>
+            </tr>
+            <tr>
+              <td>内蒙一机</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>装甲车辆无人化</td>
+            </tr>
+            <tr>
+              <td>道通科技</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>无人机智能系统</td>
+            </tr>
+            <tr>
+              <td>大立科技</td>
+              <td><span class="badge badge-green">无人装备-机器人/狗</span></td>
+              <td>特种装备</td>
+              <td>红外热成像应用</td>
+            </tr>
+            <tr>
+              <td>洪都航空</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>无人机整机制造</td>
+            </tr>
+            <tr>
+              <td>航天发展</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>导弹与无人机系统</td>
+            </tr>
+            <tr>
+              <td>航天彩虹</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>无人机及锂电供应商</td>
+            </tr>
+            <tr>
+              <td>星网宇达</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>无人机导航系统</td>
+            </tr>
+            <tr>
+              <td>中无人机</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>翼龙无人机制造商</td>
+            </tr>
+            <tr>
+              <td>光启技术</td>
+              <td><span class="badge badge-purple">无人装备-无人机</span></td>
+              <td>航空航天</td>
+              <td>超材料无人机应用</td>
+            </tr>
+            <tr>
+              <td>西部材料</td>
+              <td><span class="badge badge-amber">无人装备-水下无人装备</span></td>
+              <td>新材料</td>
+              <td>钛合金材料供应商</td>
+            </tr>
+            <tr>
+              <td>中国海防</td>
+              <td><span class="badge badge-amber">无人装备-水下无人装备</span></td>
+              <td>海洋装备</td>
+              <td>水下探测与通信系统</td>
+            </tr>
+            <tr>
+              <td>高德红外</td>
+              <td><span class="badge badge-blue">红外热成像</span></td>
+              <td>光电设备</td>
+              <td>红外热成像技术领先</td>
+            </tr>
+            <tr>
+              <td>富吉瑞</td>
+              <td><span class="badge badge-blue">红外热成像</span></td>
+              <td>光电设备</td>
+              <td>红外热像仪研发</td>
+            </tr>
+            <tr>
+              <td>火炬电子</td>
+              <td><span class="badge badge-green">电子元器件</span></td>
+              <td>电子元件</td>
+              <td>军用电子元器件</td>
+            </tr>
+            <tr>
+              <td>国博电子</td>
+              <td><span class="badge badge-green">电子元器件</span></td>
+              <td>电子元件</td>
+              <td>射频集成电路</td>
+            </tr>
+            <tr>
+              <td>臻雷科技</td>
+              <td><span class="badge badge-green">电子元器件</span></td>
+              <td>电子元件</td>
+              <td>军用射频微波器件</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle",
+          stroke: {
+            width: 0,
+            color: "#000000"
+          }
+        },
+        opacity: {
+          value: 0.5,
+          random: false,
+          anim: {
+            enable: false,
+            speed: 1,
+            opacity_min: 0.1,
+            sync: false
+          }
+        },
+        size: {
+          value: 3,
+          random: true,
+          anim: {
+            enable: false,
+            speed: 40,
+            size_min: 0.1,
+            sync: false
+          }
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false,
+          attract: {
+            enable: false,
+            rotateX: 600,
+            rotateY: 1200
+          }
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          bubble: {
+            distance: 400,
+            size: 40,
+            duration: 2,
+            opacity: 8,
+            speed: 3
+          },
+          repulse: {
+            distance: 200,
+            duration: 0.4
+          },
+          push: {
+            particles_nb: 4
+          },
+          remove: {
+            particles_nb: 2
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI制药.html

@@ -0,0 +1,597 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI制药行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Nucleo Icons -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+    }
+    .timeline-dot {
+      position: relative;
+    }
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+      top: 6px;
+      left: -8px;
+      z-index: 1;
+    }
+    .timeline-line {
+      position: absolute;
+      width: 2px;
+      background-color: #e5e7eb;
+      top: 22px;
+      bottom: 0;
+      left: 0;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
+    }
+    .hover-scale {
+      transition: transform 0.3s ease;
+    }
+    .hover-scale:hover {
+      transform: scale(1.03);
+    }
+    #vanta-bg {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+      opacity: 0.15;
+    }
+  </style>
+</head>
+<body class="bg-gray-50 text-gray-800">
+  <div id="vanta-bg"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-indigo-800 mb-4">AI制药行业洞察报告</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">
+        从概念验证到商业化落地，探索AI如何重塑药物研发的未来
+      </p>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-history mr-3"></i>概念事件时间轴
+      </h2>
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <div class="space-y-6">
+          <div class="flex">
+            <div class="flex flex-col items-center mr-4">
+              <div class="timeline-dot"></div>
+              <div class="timeline-line"></div>
+            </div>
+            <div class="pb-6">
+              <h3 class="text-xl font-semibold text-indigo-600">2020年</h3>
+              <p class="text-gray-700">AlphaFold2发布，蛋白质结构预测精度突破实验级，成为AI制药"元年"起点。</p>
+            </div>
+          </div>
+          
+          <div class="flex">
+            <div class="flex flex-col items-center mr-4">
+              <div class="timeline-dot"></div>
+              <div class="timeline-line"></div>
+            </div>
+            <div class="pb-6">
+              <h3 class="text-xl font-semibold text-indigo-600">2024年8月</h3>
+              <p class="text-gray-700">晶泰科技港股上市，首个纯AI制药公司登陆二级市场。</p>
+            </div>
+          </div>
+          
+          <div class="flex">
+            <div class="flex flex-col items-center mr-4">
+              <div class="timeline-dot"></div>
+              <div class="timeline-line"></div>
+            </div>
+            <div class="pb-6">
+              <h3 class="text-xl font-semibold text-indigo-600">2025年1月</h3>
+              <p class="text-gray-700">泓博医药发布AI平台Diorion，<span class="font-bold">服务69个新药项目</span>（5个进入临床I期）。</p>
+            </div>
+          </div>
+          
+          <div class="flex">
+            <div class="flex flex-col items-center mr-4">
+              <div class="timeline-dot"></div>
+              <div class="timeline-line"></div>
+            </div>
+            <div class="pb-6">
+              <h3 class="text-xl font-semibold text-indigo-600">2025年6月</h3>
+              <p class="text-gray-700">石药集团与阿斯利康达成<span class="font-bold">超50亿美元合作</span>（1.1亿美元预付款+里程碑），验证中国AI平台全球竞争力。</p>
+            </div>
+          </div>
+          
+          <div class="flex">
+            <div class="flex flex-col items-center mr-4">
+              <div class="timeline-dot"></div>
+            </div>
+            <div>
+              <h3 class="text-xl font-semibold text-indigo-600">2025年预期</h3>
+              <p class="text-gray-700">英矽智能ISM001-055（IPF药物）将公布IIb期数据，可能成为首个AI发现的上市药物。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-lightbulb mr-3"></i>核心观点摘要
+      </h2>
+      <div class="gradient-bg rounded-xl p-6 text-white">
+        <p class="text-lg leading-relaxed">
+          AI制药已从"概念验证"进入<span class="font-bold text-yellow-300">商业化落地阶段</span>，核心驱动力是<span class="font-bold text-yellow-300">跨国药企订单验证</span>（如石药-阿斯利康50亿美元合作）和<span class="font-bold text-yellow-300">临床数据兑现</span>（AI药物I期成功率<span class="font-bold">88% vs 传统40-65%</span>）。未来3年将是"技术变现"窗口期，但需警惕数据壁垒和临床转化风险。
+        </p>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-brain mr-3"></i>核心逻辑与市场认知分析
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <!-- 核心驱动力 -->
+        <div class="bg-white rounded-xl p-6 card-shadow hover-scale">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-4">核心驱动力</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-microchip text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">技术突破</h4>
+                <p class="text-gray-600 text-sm">AlphaFold3动态蛋白预测、生成式AI分子设计（如英矽智能Chemistry42平台）</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-dollar-sign text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">成本重构</h4>
+                <p class="text-gray-600 text-sm">AI将药物发现周期从<span class="font-bold">3-5年压缩至12-18个月</span>（晶泰科技案例），成本降低<span class="font-bold">30-50%</span></p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-landmark text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">政策催化</h4>
+                <p class="text-gray-600 text-sm">中国"十四五"规划明确支持AI辅助药物研发，FDA发布AI药物监管框架草案</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+
+        <!-- 市场热度与情绪 -->
+        <div class="bg-white rounded-xl p-6 card-shadow hover-scale">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-4">市场热度与情绪</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-chart-line text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">研报密集度</h4>
+                <p class="text-gray-600 text-sm">2025年2-6月，中信、天风、开源等<span class="font-bold">10+家券商</span>发布AI制药深度报告，情绪<span class="font-bold">极度乐观</span></p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-coins text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">资金动向</h4>
+                <p class="text-gray-600 text-sm">2024年全球AI制药融资<span class="font-bold">58亿美元</span>（接近2022年峰值），中国占比<span class="font-bold">37起</span>（仅次于美国）</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+
+        <!-- 预期差分析 -->
+        <div class="bg-white rounded-xl p-6 card-shadow hover-scale md:col-span-2">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-4">预期差分析</h3>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+            <div class="bg-red-50 rounded-lg p-4">
+              <h4 class="font-medium text-red-700 mb-2">市场忽略点</h4>
+              <ul class="space-y-2 text-sm">
+                <li class="flex items-start">
+                  <i class="fas fa-exclamation-circle text-red-500 mt-1 mr-2"></i>
+                  <span><span class="font-bold">数据孤岛</span>：药企私有数据不共享，公开数据质量参差（实验可重复率仅<span class="font-bold">20%</span>）</span>
+                </li>
+                <li class="flex items-start">
+                  <i class="fas fa-exclamation-circle text-red-500 mt-1 mr-2"></i>
+                  <span><span class="font-bold">临床断层</span>：AI优化前端（靶点发现）效果显著，但<span class="font-bold">II期成功率40%</span>仍依赖传统生物学验证</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 催化剂与路径 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-rocket mr-3"></i>催化剂与路径
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <!-- 近期催化剂 -->
+        <div class="bg-white rounded-xl p-6 card-shadow">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-4">近期催化剂（3-6个月）</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-calendar-alt text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">2025Q3</h4>
+                <p class="text-gray-600 text-sm">英矽智能ISM001-055 IIb期数据读出（IPF适应症，潜在<span class="font-bold">30-40亿美元</span>峰值销售）</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-calendar-alt text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">2025Q4</h4>
+                <p class="text-gray-600 text-sm">晶泰科技自动化实验室<span class="font-bold">200+机器人</span>满负荷运行，验证"干湿闭环"效率</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-gavel text-indigo-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">政策节点</h4>
+                <p class="text-gray-600 text-sm">中国药监局或出台AI药物IND申报细则</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+
+        <!-- 长期路径 -->
+        <div class="bg-white rounded-xl p-6 card-shadow">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-4">长期路径（2025-2030）</h3>
+          <ol class="space-y-3">
+            <li class="flex items-start">
+              <span class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center text-sm mr-3 mt-0.5">1</span>
+              <div>
+                <h4 class="font-medium">2025-2027</h4>
+                <p class="text-gray-600 text-sm">AI管线密集进入II/III期，行业进入"<span class="font-bold">批量验证期</span>"</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <span class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center text-sm mr-3 mt-0.5">2</span>
+              <div>
+                <h4 class="font-medium">2028-2030</h4>
+                <p class="text-gray-600 text-sm">首个AI设计药物上市，渗透率提升至<span class="font-bold">20%</span>（对应<span class="font-bold">4000亿美元</span>市场空间）</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <span class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center text-sm mr-3 mt-0.5">3</span>
+              <div>
+                <h4 class="font-medium">终局</h4>
+                <p class="text-gray-600 text-sm">AI成为制药"基础设施"，传统CRO转型为"AI+CRO"混合模式</p>
+              </div>
+            </li>
+          </ol>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-sitemap mr-3"></i>产业链与核心公司
+      </h2>
+      
+      <!-- 产业链图谱 -->
+      <div class="bg-white rounded-xl p-6 card-shadow mb-6">
+        <h3 class="text-xl font-semibold text-indigo-600 mb-4">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h4 class="font-medium text-blue-700 mb-2">上游</h4>
+            <ul class="space-y-1 text-sm">
+              <li>英伟达（GPU）</li>
+              <li>华为云（算力）</li>
+              <li>华大基因（多组学数据）</li>
+            </ul>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h4 class="font-medium text-purple-700 mb-2">中游</h4>
+            <ul class="space-y-1 text-sm">
+              <li><span class="font-medium">AI-Biotech</span>：英矽智能（31条管线，5项临床）、Recursion（21PB数据+超算）</li>
+              <li><span class="font-medium">AI-CRO</span>：晶泰科技（港股上市，量子物理+AI）、泓博医药（69个项目服务经验）</li>
+            </ul>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4">
+            <h4 class="font-medium text-green-700 mb-2">下游</h4>
+            <ul class="space-y-1 text-sm">
+              <li>阿斯利康</li>
+              <li>诺华等MNC采购AI服务</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+
+      <!-- 核心玩家对比 -->
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <h3 class="text-xl font-semibold text-indigo-600 mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full divide-y divide-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">公司</th>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">模式</th>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">核心壁垒</th>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险点</th>
+              </tr>
+            </thead>
+            <tbody class="bg-white divide-y divide-gray-200">
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">英矽智能</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-500">AI-Biotech</td>
+                <td class="px-4 py-3 text-sm text-gray-500">全球首个AI发现靶点进入III期</td>
+                <td class="px-4 py-3 text-sm text-gray-500">管线集中（IPF单一适应症）</td>
+              </tr>
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">晶泰科技</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-500">AI-CRO</td>
+                <td class="px-4 py-3 text-sm text-gray-500">量子计算+自动化实验室（85%数据效率）</td>
+                <td class="px-4 py-3 text-sm text-gray-500">PS估值<span class="font-bold">>50倍</span>（透支预期）</td>
+              </tr>
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">泓博医药</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-500">AI-CRO</td>
+                <td class="px-4 py-3 text-sm text-gray-500">低成本服务69个项目，客户粘性高</td>
+                <td class="px-4 py-3 text-sm text-gray-500">技术代差（vs国际龙头）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+        
+        <div class="mt-6 grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-green-50 rounded-lg p-4">
+            <h4 class="font-medium text-green-700 mb-2">验证</h4>
+            <p class="text-sm">石药50亿美元订单验证中国AI平台全球竞争力</p>
+          </div>
+          <div class="bg-yellow-50 rounded-lg p-4">
+            <h4 class="font-medium text-yellow-700 mb-2">矛盾</h4>
+            <p class="text-sm">Recursion股价因<span class="font-bold">老药新用策略失败</span>下跌，提示AI并非万能</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3"></i>潜在风险
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <!-- 技术风险 -->
+        <div class="bg-white rounded-xl p-6 card-shadow">
+          <h3 class="text-xl font-semibold text-red-600 mb-4">技术风险</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-dna text-red-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">动态蛋白预测</h4>
+                <p class="text-gray-600 text-sm">AlphaFold3对蛋白-小分子相互作用预测误差仍<span class="font-bold">>2Å</span>（临床需求<1Å）</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-flask text-red-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">合成可行性</h4>
+                <p class="text-gray-600 text-sm">AI生成分子中<span class="font-bold">12%</span>存在化学不合理结构（需人工修正）</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+
+        <!-- 商业化风险 -->
+        <div class="bg-white rounded-xl p-6 card-shadow">
+          <h3 class="text-xl font-semibold text-red-600 mb-4">商业化风险</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-hand-holding-usd text-red-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">付费意愿</h4>
+                <p class="text-gray-600 text-sm">CRO模式溢价有限（AI服务仅比传统贵<span class="font-bold">10-20%</span>），药企倾向<span class="font-bold">里程碑付款</span>而非分成</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-database text-red-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">数据垄断</h4>
+                <p class="text-gray-600 text-sm">跨国药企（如辉瑞）自建AI团队，可能挤压初创公司空间</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+
+        <!-- 政策风险 -->
+        <div class="bg-white rounded-xl p-6 card-shadow">
+          <h3 class="text-xl font-semibold text-red-600 mb-4">政策风险</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-balance-scale text-red-500 mt-1 mr-3"></i>
+              <div>
+                <h4 class="font-medium">监管滞后</h4>
+                <p class="text-gray-600 text-sm">FDA尚未明确AI生成药物的<span class="font-bold">可解释性标准</span>，可能延迟审批</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 结论与投资启示 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-chart-pie mr-3"></i>结论与投资启示
+      </h2>
+      <div class="bg-white rounded-xl p-6 card-shadow">
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold text-indigo-600 mb-3">阶段判断</h3>
+          <p class="text-gray-700">
+            AI制药处于<span class="font-bold text-indigo-600">主题炒作向基本面过渡</span>阶段，<span class="font-bold text-indigo-600">订单落地</span>（如石药合作）和<span class="font-bold text-indigo-600">临床数据</span>（ISM001-055）是分水岭。
+          </p>
+        </div>
+
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-6">
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h3 class="text-lg font-semibold text-blue-700 mb-3">投资方向</h3>
+            <ul class="space-y-2">
+              <li class="flex items-start">
+                <i class="fas fa-clock text-blue-500 mt-1 mr-2"></i>
+                <div>
+                  <h4 class="font-medium">短期</h4>
+                  <p class="text-sm">关注<span class="font-bold">AI-CRO</span>（晶泰科技、泓博医药）——轻资产、现金流快</p>
+                </div>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-hourglass-half text-blue-500 mt-1 mr-2"></i>
+                <div>
+                  <h4 class="font-medium">长期</h4>
+                  <p class="text-sm">布局<span class="font-bold">AI-Biotech</span>（英矽智能）——管线价值高，但需承担临床风险</p>
+                </div>
+              </li>
+            </ul>
+          </div>
+
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h3 class="text-lg font-semibold text-purple-700 mb-3">跟踪指标</h3>
+            <ol class="space-y-2 text-sm">
+              <li>
+                <span class="font-medium">1. 临床数据</span>：ISM001-055 IIb期FVC改善幅度（需<span class="font-bold">>10%</span>才能支撑估值）
+              </li>
+              <li>
+                <span class="font-medium">2. 订单密度</span>：2025年Q3前新增<span class="font-bold">3个以上</span>跨国药企合作公告
+              </li>
+              <li>
+                <span class="font-medium">3. 技术验证</span>：AlphaFold4动态预测精度是否突破<span class="font-bold">1Å</span>
+              </li>
+            </ol>
+          </div>
+        </div>
+
+        <div class="bg-red-50 rounded-lg p-4 border-l-4 border-red-500">
+          <h3 class="text-lg font-semibold text-red-700 mb-2">风险提示</h3>
+          <p class="text-sm">
+            若ISM001-055 IIb期数据不及预期，行业可能进入"<span class="font-bold">证伪期</span>"，估值压缩50%以上。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据表格 -->
+    <div class="mb-12">
+      <h2 class="text-2xl font-bold text-indigo-700 mb-6 flex items-center">
+        <i class="fas fa-table mr-3"></i>关联股票数据
+      </h2>
+      <div class="bg-white rounded-xl card-shadow overflow-hidden">
+        <div class="overflow-x-auto">
+          <table class="min-w-full divide-y divide-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+                <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">项目/分类</th>
+                <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">合作/行业/产业链</th>
+                <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">原因/进展/政策支持</th>
+              </tr>
+            </thead>
+            <tbody class="bg-white divide-y divide-gray-200">
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">泓博医药</td>
+                <td class="px-6 py-4 text-sm text-gray-500">人工智能算法与药物设计结合</td>
+                <td class="px-6 py-4 text-sm text-gray-500">药物研发（虚拟筛选、代谢预测）</td>
+                <td class="px-6 py-4 text-sm text-gray-500">公司利用AI技术提升药物研发效率，应用于大规模虚拟筛选和药物代谢性质预测</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">成都先导</td>
+                <td class="px-6 py-4 text-sm text-gray-500">AI药物研发探索</td>
+                <td class="px-6 py-4 text-sm text-gray-500">人工智能+医药研发</td>
+                <td class="px-6 py-4 text-sm text-gray-500">公司持续关注并研究AI在药物研发领域的应用</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">美迪西</td>
+                <td class="px-6 py-4 text-sm text-gray-500">KINET人工智能新药研发平台</td>
+                <td class="px-6 py-4 text-sm text-gray-500">与苏州朗睿合作</td>
+                <td class="px-6 py-4 text-sm text-gray-500">依托合作方平台快速开发安全有效的临床候选化合物</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">皓元医药</td>
+                <td class="px-6 py-4 text-sm text-gray-500">创新药小分子定制服务</td>
+                <td class="px-6 py-4 text-sm text-gray-500">与英矽智能合作</td>
+                <td class="px-6 py-4 text-sm text-gray-500">双方在药物研发全流程（从定制到生产）深度合作</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">润达医疗</td>
+                <td class="px-6 py-4 text-sm text-gray-500">AI大模型智慧医疗</td>
+                <td class="px-6 py-4 text-sm text-gray-500">与华为云合作</td>
+                <td class="px-6 py-4 text-sm text-gray-500">基于华为云构建医疗领域AI模型，提供智慧医疗服务</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">科源制药</td>
+                <td class="px-6 py-4 text-sm text-gray-500">现代优势产业集群+人工智能试点示范企业</td>
+                <td class="px-6 py-4 text-sm text-gray-500">山东省首批试点</td>
+                <td class="px-6 py-4 text-sm text-gray-500">公司被认定为AI与医药产业融合的示范企业</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">安科生物</td>
+                <td class="px-6 py-4 text-sm text-gray-500">AI辅助药物设计</td>
+                <td class="px-6 py-4 text-sm text-gray-500">获批临床试验</td>
+                <td class="px-6 py-4 text-sm text-gray-500">通过AI平台开发的药物已进入临床阶段</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">我武生物</td>
+                <td class="px-6 py-4 text-sm text-gray-500">拟人认知AI医药应用</td>
+                <td class="px-6 py-4 text-sm text-gray-500">子公司研发测试</td>
+                <td class="px-6 py-4 text-sm text-gray-500">子公司建立AI能力并应用于医药领域，已取得内部测试进展</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <!-- 脚本 -->
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
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+        scale: 1.00,
+        scaleMobile: 1.00,
+        color: 0x3b82f6,
+        shininess: 50.00,
+        waveHeight: 15.00,
+        waveSpeed: 0.75,
+        zoom: 0.65
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI医疗.html

@@ -0,0 +1,772 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI医疗行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background-color: #667eea;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 18px;
+      bottom: -18px;
+      width: 1px;
+      background-color: #e2e8f0;
+    }
+    .timeline-item:last-child .timeline-line {
+      display: none;
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.75rem;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">AI医疗行业洞察报告</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">深度解析AI医疗商业化进程与投资机会</p>
+      <div class="mt-6 flex justify-center">
+        <span class="bg-blue-100 text-blue-800 text-sm font-medium px-4 py-2 rounded-full">更新时间：2025年5月</span>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-500 mr-3"></i>核心观点摘要
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-blue-50 p-4 rounded-lg">
+          <h3 class="font-semibold text-blue-800 mb-2">阶段判断</h3>
+          <p class="text-gray-700">AI医疗已从"技术验证期"进入"商业化落地期"，<span class="font-bold text-blue-700">医保支付破冰+开源模型降本</span>构成双重拐点。</p>
+        </div>
+        <div class="bg-green-50 p-4 rounded-lg">
+          <h3 class="font-semibold text-green-800 mb-2">核心驱动力</h3>
+          <p class="text-gray-700">政策强制场景（医保控费）+技术成熟度（病理/影像AI准确率>90%）+数据壁垒（头部企业掌握<span class="font-bold text-green-700">55亿份医疗记录</span>）。</p>
+        </div>
+        <div class="bg-purple-50 p-4 rounded-lg">
+          <h3 class="font-semibold text-purple-800 mb-2">未来潜力</h3>
+          <p class="text-gray-700">2025年中国市场规模<span class="font-bold text-purple-700">242亿元</span>（2023年仅37亿元），<span class="font-bold text-purple-700">渗透率不足5%</span>，存在10倍空间。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-history text-indigo-500 mr-3"></i>概念事件时间轴
+      </h2>
+      <div class="relative pl-8">
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-indigo-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-indigo-800">2024年11月</h3>
+            <p class="text-gray-700 mt-1">国家医保局首次将AI辅助诊断纳入医疗服务价格项目立项指南，明确不重复收费，<span class="font-bold text-indigo-700">直接打通商业化支付路径</span>。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-indigo-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-indigo-800">2025年1月</h3>
+            <p class="text-gray-700 mt-1">DeepSeek R1开源发布，<span class="font-bold text-indigo-700">训练成本仅为GPT-4的1/10</span>（557万美元 vs 1亿美元），推动中小医院本地化部署。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-indigo-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-indigo-800">2025年2月</h3>
+            <p class="text-gray-700 mt-1">瑞金医院联合华为发布病理大模型RuiPath，<span class="font-bold text-indigo-700">单切片诊断时间从5分钟降至秒级</span>，覆盖90%中国高发癌种。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="bg-indigo-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-indigo-800">2025年3月</h3>
+            <p class="text-gray-700 mt-1">华为组建医疗卫生军团，昇腾芯片+盘古大模型落地<span class="font-bold text-indigo-700">200+医院</span>（润达医疗、卫宁健康等合作方）。</p>
+          </div>
+        </div>
+        <div class="timeline-item relative">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-indigo-800">2025年5月</h3>
+            <p class="text-gray-700 mt-1">Tempus.AI美股单月涨幅<span class="font-bold text-indigo-700">51.8%</span>，Doximity涨幅<span class="font-bold text-indigo-700">181%</span>，形成全球映射效应。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-brain text-pink-500 mr-3"></i>核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">核心驱动力</h3>
+        <div class="space-y-4">
+          <div class="border-l-4 border-blue-500 pl-4 py-2">
+            <h4 class="font-semibold text-blue-800">政策刚性需求</h4>
+            <p class="text-gray-700">医保局要求2025年DRG/DIP支付全覆盖，<span class="font-bold text-blue-700">AI诊断可降低15%误诊率</span>（瑞金医院数据），直接减少医保支出。</p>
+          </div>
+          <div class="border-l-4 border-green-500 pl-4 py-2">
+            <h4 class="font-semibold text-green-800">技术突破临界点</h4>
+            <p class="text-gray-700">影像AI：联影医疗uAI模型<span class="font-bold text-green-700">肾动脉分割仅需10个数据</span>（传统需200个），成本下降<span class="font-bold text-green-700">95%</span>。</p>
+            <p class="text-gray-700 mt-2">病理AI：华大基因GBI模型<span class="font-bold text-green-700">罕见病变异识别准确率98.2%</span>，超越人类专家。</p>
+          </div>
+          <div class="border-l-4 border-purple-500 pl-4 py-2">
+            <h4 class="font-semibold text-purple-800">数据飞轮效应</h4>
+            <p class="text-gray-700">医渡科技覆盖<span class="font-bold text-purple-700">2800家医院</span>，讯飞医疗智医助理覆盖<span class="font-bold text-purple-700">600个区县</span>（占全国1/3），形成<span class="font-bold text-purple-700">不可复制的数据护城河</span>。</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
+        <div class="bg-yellow-50 p-4 rounded-lg">
+          <h3 class="text-lg font-semibold text-yellow-800 mb-3">市场热度与情绪</h3>
+          <ul class="space-y-2">
+            <li class="flex items-start">
+              <i class="fas fa-chart-line text-yellow-600 mt-1 mr-2"></i>
+              <span class="text-gray-700"><span class="font-semibold">研报密度</span>：2025年2月单月发布<span class="font-bold text-yellow-700">12篇AI医疗深度报告</span>（华西、天风、中泰等机构），为2024年同期3倍。</span>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-exchange-alt text-yellow-600 mt-1 mr-2"></i>
+              <span class="text-gray-700"><span class="font-semibold">资金动向</span>：港股AI医疗板块<span class="font-bold text-yellow-700">5日换手率9.33%</span>（华为AI医疗指数数据），显示短线资金活跃。</span>
+            </li>
+          </ul>
+        </div>
+        <div class="bg-red-50 p-4 rounded-lg">
+          <h3 class="text-lg font-semibold text-red-800 mb-3">预期差分析</h3>
+          <div class="overflow-x-auto">
+            <table class="min-w-full text-sm">
+              <thead>
+                <tr class="bg-red-100">
+                  <th class="px-3 py-2 text-left text-red-800 font-semibold">市场共识</th>
+                  <th class="px-3 py-2 text-left text-red-800 font-semibold">被忽略的关键点</th>
+                  <th class="px-3 py-2 text-left text-red-800 font-semibold">数据来源</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-red-100">
+                  <td class="px-3 py-2 text-gray-700">AI医疗=影像辅助诊断</td>
+                  <td class="px-3 py-2 text-gray-700"><span class="font-bold text-red-700">病理AI（如宫颈癌筛查）渗透率仅35%</span>，政策要求2025年达70%</td>
+                  <td class="px-3 py-2 text-gray-700">国家卫健委文件</td>
+                </tr>
+                <tr class="border-b border-red-100">
+                  <td class="px-3 py-2 text-gray-700">商业化依赖医保支付</td>
+                  <td class="px-3 py-2 text-gray-700"><span class="font-bold text-red-700">C端健康管理已跑通</span>：美年健康AI肺结节筛查<span class="font-bold text-red-700">客单价提升20%</span></td>
+                  <td class="px-3 py-2 text-gray-700">美年健康路演</td>
+                </tr>
+                <tr>
+                  <td class="px-3 py-2 text-gray-700">技术门槛高</td>
+                  <td class="px-3 py-2 text-gray-700"><span class="font-bold text-red-700">DeepSeek开源后</span>，中小医院部署成本从<span class="font-bold text-red-700">百万级降至十万级</span></td>
+                  <td class="px-3 py-2 text-gray-700">塞力医疗案例</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-rocket text-orange-500 mr-3"></i>关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
+        <div class="bg-orange-50 p-4 rounded-lg">
+          <h3 class="text-lg font-semibold text-orange-800 mb-3">近期催化剂（3-6个月）</h3>
+          <ol class="space-y-3 list-decimal list-inside">
+            <li class="text-gray-700"><span class="font-semibold">三类证密集获批</span>：2025年Q2预计<span class="font-bold text-orange-700">15个AI病理产品</span>获NMPA认证（安必平、迪安诊断在列）。</li>
+            <li class="text-gray-700"><span class="font-semibold">医保支付细则落地</span>：2025年6月前各省将出台AI辅助诊断<span class="font-bold text-orange-700">医保报销比例</span>（目前仅立项，未明确比例）。</li>
+            <li class="text-gray-700"><span class="font-semibold">华为生态扩张</span>：昇腾AI一体机计划<span class="font-bold text-orange-700">Q3进入500家二级医院</span>（合作方润达医疗已签框架协议）。</li>
+          </ol>
+        </div>
+        <div class="bg-teal-50 p-4 rounded-lg">
+          <h3 class="text-lg font-semibold text-teal-800 mb-3">长期发展路径</h3>
+          <div class="flex flex-col items-center">
+            <div class="w-full max-w-md">
+              <div class="flex justify-between mb-2">
+                <span class="text-sm font-semibold text-teal-800">2025:商业化元年</span>
+                <span class="text-sm font-semibold text-teal-800">2026-2027:渗透率10%</span>
+              </div>
+              <div class="h-2 bg-teal-200 rounded-full mb-2"></div>
+              <div class="flex justify-between mb-2">
+                <span class="text-sm font-semibold text-teal-800">2028-2030:渗透率30%+</span>
+                <span class="text-sm font-semibold text-teal-800">2030+:AI医生Agent普及</span>
+              </div>
+              <div class="h-2 bg-teal-200 rounded-full"></div>
+            </div>
+            <div class="mt-4 text-center">
+              <p class="text-sm text-gray-600">政策+技术 → 数据壁垒 → 多模态大模型</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-sitemap text-cyan-500 mr-3"></i>产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-lg font-semibold text-gray-800 mb-4">产业链图谱</h3>
+        <div class="flex flex-col md:flex-row justify-between items-center bg-cyan-50 p-4 rounded-lg">
+          <div class="text-center mb-4 md:mb-0">
+            <div class="bg-cyan-500 text-white px-4 py-2 rounded-lg font-semibold">上游<br>数据/算力</div>
+            <p class="text-sm text-gray-600 mt-2">华为昇腾/英伟达</p>
+          </div>
+          <div class="text-2xl text-cyan-500 mb-4 md:mb-0">
+            <i class="fas fa-arrow-right"></i>
+          </div>
+          <div class="text-center mb-4 md:mb-0">
+            <div class="bg-cyan-500 text-white px-4 py-2 rounded-lg font-semibold">中游<br>AI模型</div>
+            <p class="text-sm text-gray-600 mt-2">联影智能/讯飞医疗</p>
+          </div>
+          <div class="text-2xl text-cyan-500 mb-4 md:mb-0">
+            <i class="fas fa-arrow-right"></i>
+          </div>
+          <div class="text-center">
+            <div class="bg-cyan-500 text-white px-4 py-2 rounded-lg font-semibold">下游<br>应用场景</div>
+            <p class="text-sm text-gray-600 mt-2">医院/体检中心/药企</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="mb-8">
+        <h3 class="text-lg font-semibold text-gray-800 mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full text-sm">
+            <thead>
+              <tr class="bg-gray-100">
+                <th class="px-4 py-2 text-left text-gray-800 font-semibold">公司</th>
+                <th class="px-4 py-2 text-left text-gray-800 font-semibold">数据壁垒</th>
+                <th class="px-4 py-2 text-left text-gray-800 font-semibold">商业化进度</th>
+                <th class="px-4 py-2 text-left text-gray-800 font-semibold">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-200">
+                <td class="px-4 py-3 font-semibold text-gray-800">医渡科技</td>
+                <td class="px-4 py-3 text-gray-700"><span class="font-bold text-cyan-700">55亿份医疗记录</span>（行业第一）</td>
+                <td class="px-4 py-3 text-gray-700">北京惠民保连续4年主运营方</td>
+                <td class="px-4 py-3 text-gray-700">2024年收入下滑7.8%（医保控费影响）</td>
+              </tr>
+              <tr class="border-b border-gray-200">
+                <td class="px-4 py-3 font-semibold text-gray-800">润达医疗</td>
+                <td class="px-4 py-3 text-gray-700">与华为合作<span class="font-bold text-cyan-700">良医小慧</span>覆盖200+医院</td>
+                <td class="px-4 py-3 text-gray-700">2025年AI收入占比预计<span class="font-bold text-cyan-700">15%</span></td>
+                <td class="px-4 py-3 text-gray-700">应收账款占比<span class="font-bold text-cyan-700">35%</span>（华西研报提示）</td>
+              </tr>
+              <tr>
+                <td class="px-4 py-3 font-semibold text-gray-800">华大基因</td>
+                <td class="px-4 py-3 text-gray-700">全球最大基因数据库</td>
+                <td class="px-4 py-3 text-gray-700">AI基因检测毛利率<span class="font-bold text-cyan-700">70%+</span></td>
+                <td class="px-4 py-3 text-gray-700">基因数据合规风险（《数据安全法》）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold text-gray-800 mb-4">验证与证伪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-red-50 p-4 rounded-lg border-l-4 border-red-500">
+            <h4 class="font-semibold text-red-800 mb-2">证伪案例</h4>
+            <p class="text-gray-700">某研报称"AI制药将缩短研发周期90%"，但路演显示<span class="font-bold text-red-700">英矽智能最快管线仅到临床II期</span>（实际缩短2-3年，非90%）。</p>
+          </div>
+          <div class="bg-green-50 p-4 rounded-lg border-l-4 border-green-500">
+            <h4 class="font-semibold text-green-800 mb-2">验证案例</h4>
+            <p class="text-gray-700">联影医疗路演披露<span class="font-bold text-green-700">12张三类证+15项FDA认证</span>，与研报数据完全一致。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle text-red-500 mr-3"></i>潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="bg-red-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-red-800 mb-2">技术风险</h3>
+            <p class="text-gray-700"><span class="font-bold text-red-700">多模态融合瓶颈</span>：影像+基因+文本数据整合准确率仅<span class="font-bold text-red-700">78%</span>（瑞金医院测试），低于单模态的90%+。</p>
+          </div>
+          <div class="bg-orange-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-orange-800 mb-2">商业化风险</h3>
+            <p class="text-gray-700"><span class="font-bold text-orange-700">医院付费意愿</span>：三级医院AI预算<span class="font-bold text-orange-700">平均仅500万/年</span>（医渡科技路演），难以支撑千万级项目。</p>
+          </div>
+        </div>
+        <div class="space-y-4">
+          <div class="bg-yellow-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-yellow-800 mb-2">政策风险</h3>
+            <p class="text-gray-700"><span class="font-bold text-yellow-700">数据出境限制</span>：基因数据需通过<span class="font-bold text-yellow-700">网信办安全评估</span>（华大基因2024年因数据出境被问询）。</p>
+          </div>
+          <div class="bg-purple-50 p-4 rounded-lg">
+            <h3 class="font-semibold text-purple-800 mb-2">信息矛盾</h3>
+            <p class="text-gray-700"><span class="font-bold text-purple-700">市场规模差异</span>：中商产业研究院预测2025年<span class="font-bold text-purple-700">242亿元</span>，而弗若斯特沙利文预测<span class="font-bold text-purple-700">1598亿元</span>（差异源于统计口径：前者仅医疗器械，后者含服务）。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="bg-gradient-to-r from-blue-600 to-purple-600 rounded-xl card-shadow p-6 mb-8 text-white">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-line text-yellow-300 mr-3"></i>综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">阶段判断</h3>
+        <div class="bg-white bg-opacity-20 p-4 rounded-lg">
+          <p class="text-lg"><span class="font-bold text-yellow-300">主题炒作末期+基本面驱动初期</span>，类似2019年的新能源车。</p>
+        </div>
+      </div>
+
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">高价值细分</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-white bg-opacity-20 p-4 rounded-lg">
+            <h4 class="font-semibold mb-2">病理AI</h4>
+            <p class="text-sm">政策强制场景（宫颈癌筛查），<span class="font-bold text-yellow-300">安必平</span>（与腾讯合作）和<span class="font-bold text-yellow-300">迪安诊断</span>（三类证申报中）弹性最大。</p>
+          </div>
+          <div class="bg-white bg-opacity-20 p-4 rounded-lg">
+            <h4 class="font-semibold mb-2">医保AI</h4>
+            <p class="text-sm"><span class="font-bold text-yellow-300">久远银海</span>（医保信息化龙头）直接受益于DRG支付改革。</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold mb-3">关键跟踪指标</h3>
+        <div class="bg-white bg-opacity-20 p-4 rounded-lg">
+          <ul class="space-y-2">
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-yellow-300 mt-1 mr-2"></i>
+              <span class="text-sm"><span class="font-semibold">订单验证</span>：医渡科技2025年新签AI中台项目金额（目标<span class="font-bold text-yellow-300">20+个千万级项目</span>）。</span>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-yellow-300 mt-1 mr-2"></i>
+              <span class="text-sm"><span class="font-semibold">渗透率</span>：2025年底AI影像在三级医院覆盖率（当前<span class="font-bold text-yellow-300">&lt;10%</span>，目标<span class="font-bold text-yellow-300">30%</span>）。</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+
+      <div class="mt-6 bg-red-500 bg-opacity-30 p-4 rounded-lg">
+        <p class="font-semibold"><i class="fas fa-exclamation-circle mr-2"></i>风险提示</p>
+        <p class="text-sm mt-1">若2025年Q2医保支付细则低于预期（如报销比例<50%），板块可能回调<span class="font-bold">20-30%</span>。</p>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="bg-white rounded-xl card-shadow p-6">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-table text-green-500 mr-3"></i>AI医疗关联股票
+      </h2>
+      
+      <div class="table-container">
+        <table class="min-w-full divide-y divide-gray-200">
+          <thead class="bg-gray-50">
+            <tr>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">分类</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">行业</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">产业链</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">原因</th>
+            </tr>
+          </thead>
+          <tbody class="bg-white divide-y divide-gray-200">
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">贝瑞基因</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">基因检测</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">金域医学</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医学检验</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">华大基因</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">基因检测</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">万东医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗影像</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">福瑞股份</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗设备</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">明月镜片</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">眼科医疗</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">热景生物</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">体外诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">祥生医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">超声诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">安必平</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">病理诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">迪安诊断</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医学诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">兰卫医学</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医学检验</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">迈克奥迪</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI检测</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">病理诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI检测领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">成都先导</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">药物发现</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">泓博医药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">药物研发</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">丽珠集团</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">化学制药</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">健康元</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">生物制药</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">皓元医药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">药物研发</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">东阳光</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">化学制药</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">长江药业</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">化学制药</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">药石科技</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">药物研发</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">北陆药业</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI制药</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">化学制药</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属AI制药领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">塞力医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">美年健康</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">健康管理</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">润达医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">迪安诊断</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医学诊断</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">朗玛信息</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗大数据</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">久远银海</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">东软集团</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗IT解决方案</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">卫宁健康</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">东华软件</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗IT解决方案</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">万达信息</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">创业慧康</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">嘉和美康</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">山大地纬</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗IT解决方案</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr>
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">中科信息</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap text-sm font-medium text-gray-900">思创医惠</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">智慧医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">AI医疗</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">医疗信息化</td>
+              <td class="px-6 py-4 text-sm text-gray-500">根据图片中分类归属智慧医疗领域</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 页脚 -->
+    <div class="mt-12 text-center text-gray-500 text-sm">
+      <p>© 2025 AI医疗行业洞察报告 | 数据来源：公开资料整理</p>
+    </div>
+  </div>
+
+  <!-- 引入必要的JS库 -->
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#667eea"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#667eea",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI医疗创新生态.html

@@ -0,0 +1,892 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI医疗创新生态 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Nucleo Icons -->
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/nucleo-icons.css" rel="stylesheet" />
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/nucleo-svg.css" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- CSS Files -->
+  <link href="https://demos.creative-tim.com/soft-ui-design-system-pro/assets/css/soft-design-system-pro.css?v=1.2.0" rel="stylesheet" />
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <style>
+    /* 自定义样式 */
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-hover {
+      transition: transform 0.3s ease, box-shadow 0.3s ease;
+    }
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 20px rgba(0,0,0,0.1);
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background-color: #667eea;
+      position: absolute;
+      left: -6px;
+      top: 5px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 15px;
+      bottom: 0;
+      width: 2px;
+      background-color: #e2e8f0;
+    }
+    .timeline-item {
+      position: relative;
+      padding-left: 20px;
+      margin-bottom: 20px;
+    }
+    .highlight-text {
+      background: linear-gradient(120deg, #667eea 0%, #764ba2 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+      opacity: 0.4;
+    }
+    .table-responsive {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .timeline-line {
+        left: 10px;
+      }
+      .timeline-dot {
+        left: 4px;
+      }
+      .timeline-item {
+        padding-left: 30px;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 highlight-text">AI医疗创新生态</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">从技术突破到商业化落地，探索AI医疗产业的发展路径与投资机会</p>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-calendar-alt mr-3 text-indigo-600"></i>
+        概念事件时间轴
+      </h2>
+      <div class="relative pl-8">
+        <div class="timeline-line"></div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-semibold text-indigo-700">2025-02-18</h3>
+            <p class="text-gray-700">瑞金医院与华为联合发布病理大模型，推动AI辅助诊断临床落地</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-semibold text-indigo-700">2025-02-09</h3>
+            <p class="text-gray-700">天风证券研报首次提出"AI医疗创新蓝海"，明确三大场景及标的池</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-semibold text-indigo-700">2025-03-10</h3>
+            <p class="text-gray-700">广东省发布AI开源生态政策，每年资助800万元支持医疗AI社区建设</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-semibold text-indigo-700">2025-03-12</h3>
+            <p class="text-gray-700">华为组建医疗卫生军团，聚焦"AI诊断-硬件互联-药物研发"全链条</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item">
+          <div class="timeline-dot"></div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-semibold text-indigo-700">2025-05-21</h3>
+            <p class="text-gray-700">腾讯健康发布AI智能体，覆盖健康管理、科研大模型</p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6 p-4 bg-gradient-to-r from-indigo-500 to-purple-600 rounded-lg text-white">
+        <p class="font-semibold">核心催化逻辑：</p>
+        <p class="mt-2">技术突破（DeepSeek降本增效）→ 政策落地（医保支付纳入AI诊断）→ 巨头入局（华为/腾讯生态整合）→ 商业化验证（瑞金医院病理模型日处理效率提升100倍）</p>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
+      <div class="card bg-white rounded-xl shadow-lg p-6 card-hover">
+        <h2 class="text-2xl font-bold mb-4 text-gray-800 flex items-center">
+          <i class="fas fa-lightbulb mr-3 text-yellow-500"></i>
+          核心观点摘要
+        </h2>
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="bg-yellow-100 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-check text-yellow-600"></i>
+            </div>
+            <div>
+              <h3 class="font-semibold text-gray-800">阶段判断</h3>
+              <p class="text-gray-600">AI医疗已从"概念验证"进入<strong class="text-indigo-600">商业化落地初期</strong>，核心驱动力是政策支付端打通+技术成本拐点</p>
+            </div>
+          </div>
+          
+          <div class="flex items-start">
+            <div class="bg-yellow-100 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-chart-line text-yellow-600"></i>
+            </div>
+            <div>
+              <h3 class="font-semibold text-gray-800">未来潜力</h3>
+              <p class="text-gray-600">2030年全球AI医疗市场规模预计<strong class="text-indigo-600">超2000亿美元</strong>，中国增速<strong class="text-indigo-600">CAGR 35%+</strong></p>
+            </div>
+          </div>
+          
+          <div class="flex items-start">
+            <div class="bg-red-100 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-exclamation-triangle text-red-600"></i>
+            </div>
+            <div>
+              <h3 class="font-semibold text-gray-800">风险提示</h3>
+              <p class="text-gray-600">需警惕<strong class="text-red-600">数据孤岛</strong>和<strong class="text-red-600">临床验证滞后</strong>风险</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div class="card bg-white rounded-xl shadow-lg p-6 card-hover">
+        <h2 class="text-2xl font-bold mb-4 text-gray-800 flex items-center">
+          <i class="fas fa-rocket mr-3 text-purple-600"></i>
+          核心驱动力
+        </h2>
+        <div class="space-y-4">
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h3 class="font-semibold text-blue-700 flex items-center">
+              <i class="fas fa-file-alt mr-2"></i>
+              政策端
+            </h3>
+            <p class="text-gray-700 mt-2">医保局2024年11月明确AI辅助诊断<strong class="text-blue-600">不额外收费</strong>（等同于主项目价格），直接解决支付方痛点</p>
+          </div>
+          
+          <div class="bg-green-50 rounded-lg p-4">
+            <h3 class="font-semibold text-green-700 flex items-center">
+              <i class="fas fa-microchip mr-2"></i>
+              技术端
+            </h3>
+            <p class="text-gray-700 mt-2">DeepSeek R1将训练成本降至<strong class="text-green-600">GPT-4的1/10</strong>，推动基层医院部署</p>
+          </div>
+          
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h3 class="font-semibold text-purple-700 flex items-center">
+              <i class="fas fa-users mr-2"></i>
+              需求端
+            </h3>
+            <p class="text-gray-700 mt-2">中国60岁以上人口占比<strong class="text-purple-600">22%</strong>（2024年），慢性病管理需求倒逼AI渗透</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 市场热度与预期差 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-fire mr-3 text-orange-500"></i>
+        市场热度与预期差
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">市场热度与情绪</h3>
+          <div class="space-y-4">
+            <div class="flex items-center">
+              <div class="w-3 h-3 rounded-full bg-red-500 mr-3"></div>
+              <div class="flex-1">
+                <div class="flex justify-between mb-1">
+                  <span class="text-gray-700">新闻热度</span>
+                  <span class="text-gray-600">2025年2月至今日均3-5篇</span>
+                </div>
+                <div class="w-full bg-gray-200 rounded-full h-2">
+                  <div class="bg-red-500 h-2 rounded-full" style="width: 90%"></div>
+                </div>
+                <p class="text-sm text-gray-500 mt-1">显著高于2024年均值（<1篇/日）</p>
+              </div>
+            </div>
+            
+            <div class="flex items-center">
+              <div class="w-3 h-3 rounded-full bg-yellow-500 mr-3"></div>
+              <div class="flex-1">
+                <div class="flex justify-between mb-1">
+                  <span class="text-gray-700">研报密集度</span>
+                  <span class="text-gray-600">2025年Q1已有12篇</span>
+                </div>
+                <div class="w-full bg-gray-200 rounded-full h-2">
+                  <div class="bg-yellow-500 h-2 rounded-full" style="width: 75%"></div>
+                </div>
+                <p class="text-sm text-gray-500 mt-1">vs 2024全年仅8篇</p>
+              </div>
+            </div>
+            
+            <div class="bg-orange-50 rounded-lg p-4 mt-4">
+              <p class="text-orange-700"><i class="fas fa-info-circle mr-2"></i>情绪<strong class="text-orange-600">极度乐观</strong>（如浙商策略主题评分57分，但提示"市值容量不足"）</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">预期差分析</h3>
+          <div class="bg-gradient-to-br from-indigo-50 to-purple-50 rounded-lg p-5">
+            <div class="mb-4">
+              <h4 class="font-semibold text-gray-800 mb-2">市场共识</h4>
+              <p class="text-gray-700">认为AI医疗="影像诊断+药物研发"</p>
+            </div>
+            
+            <div>
+              <h4 class="font-semibold text-gray-800 mb-2">被忽略点</h4>
+              <ul class="space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-angle-right text-indigo-600 mt-1 mr-2"></i>
+                  <span><strong class="text-indigo-600">数据壁垒</strong>：医渡科技拥有<strong>55亿份医疗记录</strong>，但市场未充分定价其数据资产价值</span>
+                </li>
+                <li class="flex items-start">
+                  <i class="fas fa-angle-right text-indigo-600 mt-1 mr-2"></i>
+                  <span><strong class="text-indigo-600">支付瓶颈</strong>：基层医院AI采购预算仅<strong>百万级</strong>，与研报预期的"千万级项目"存在差距</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-bolt mr-3 text-yellow-500"></i>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-yellow-100 rounded-full w-8 h-8 flex items-center justify-center mr-3 flex-shrink-0">
+                <span class="text-yellow-700 font-bold text-sm">Q2</span>
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">瑞金医院病理大模型二类医疗器械证获批</h4>
+                <p class="text-gray-600 text-sm">塞力医疗路演提及</p>
+              </div>
+            </div>
+            
+            <div class="flex items-start">
+              <div class="bg-yellow-100 rounded-full w-8 h-8 flex items-center justify-center mr-3 flex-shrink-0">
+                <span class="text-yellow-700 font-bold text-sm">Q3</span>
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">华为医疗军团首批订单落地</h4>
+                <p class="text-gray-600 text-sm">预计覆盖50家三甲医院</p>
+              </div>
+            </div>
+            
+            <div class="flex items-start">
+              <div class="bg-yellow-100 rounded-full w-8 h-8 flex items-center justify-center mr-3 flex-shrink-0">
+                <span class="text-yellow-700 font-bold text-sm">Q4</span>
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">医保局发布AI诊断报销细则</h4>
+                <p class="text-gray-600 text-sm">当前仅试点，需全国推广</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">长期路径</h3>
+          <div class="bg-gradient-to-br from-blue-50 to-indigo-50 rounded-lg p-5 h-full">
+            <div class="space-y-4">
+              <div>
+                <div class="flex items-center mb-2">
+                  <div class="bg-blue-500 text-white rounded-full w-6 h-6 flex items-center justify-center mr-2 text-sm">1</div>
+                  <h4 class="font-semibold text-gray-800">2025-2027：技术标准化</h4>
+                </div>
+                <p class="text-gray-600 text-sm pl-8">病理/影像AI三类证批量获批</p>
+              </div>
+              
+              <div>
+                <div class="flex items-center mb-2">
+                  <div class="bg-blue-500 text-white rounded-full w-6 h-6 flex items-center justify-center mr-2 text-sm">2</div>
+                  <h4 class="font-semibold text-gray-800">2028-2030：生态整合</h4>
+                </div>
+                <p class="text-gray-600 text-sm pl-8">华为/腾讯主导"设备+AI+云"闭环</p>
+              </div>
+              
+              <div>
+                <div class="flex items-center mb-2">
+                  <div class="bg-blue-500 text-white rounded-full w-6 h-6 flex items-center justify-center mr-2 text-sm">3</div>
+                  <h4 class="font-semibold text-gray-800">2030+：数据货币化</h4>
+                </div>
+                <p class="text-gray-600 text-sm pl-8">医疗数据交易规模超100亿元</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-sitemap mr-3 text-green-600"></i>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-gray-700">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-700 mb-3 flex items-center">
+              <i class="fas fa-arrow-up mr-2"></i>
+              上游
+            </h4>
+            <ul class="space-y-2 text-gray-700">
+              <li><i class="fas fa-server text-blue-500 mr-2"></i>算力（华为昇腾）</li>
+              <li><i class="fas fa-database text-blue-500 mr-2"></i>数据（医渡科技55亿记录）</li>
+              <li><i class="fas fa-code text-blue-500 mr-2"></i>算法（DeepSeek开源）</li>
+            </ul>
+          </div>
+          
+          <div class="bg-green-50 rounded-lg p-4">
+            <h4 class="font-semibold text-green-700 mb-3 flex items-center">
+              <i class="fas fa-exchange-alt mr-2"></i>
+              中游
+            </h4>
+            <div class="space-y-3">
+              <div>
+                <h5 class="font-medium text-gray-800">设备商</h5>
+                <ul class="text-sm text-gray-700 mt-1">
+                  <li>• 联影医疗（AI影像市占率30%+）</li>
+                  <li>• 万东医疗（双子星AI 3.0T）</li>
+                </ul>
+              </div>
+              <div>
+                <h5 class="font-medium text-gray-800">IT服务商</h5>
+                <ul class="text-sm text-gray-700 mt-1">
+                  <li>• 卫宁健康（医保支付系统市占率第一）</li>
+                  <li>• 创业慧康（BsoftGPT大模型）</li>
+                </ul>
+              </div>
+            </div>
+          </div>
+          
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h4 class="font-semibold text-purple-700 mb-3 flex items-center">
+              <i class="fas fa-arrow-down mr-2"></i>
+              下游
+            </h4>
+            <ul class="space-y-2 text-gray-700">
+              <li><i class="fas fa-hospital text-purple-500 mr-2"></i>医院（瑞金医院）</li>
+              <li><i class="fas fa-shield-alt text-purple-500 mr-2"></i>保险（平安好医生AI风控）</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-gray-700">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+            <thead>
+              <tr class="bg-gray-50">
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">公司</th>
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">竞争优势</th>
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b font-semibold text-indigo-600">医渡科技</td>
+                <td class="py-3 px-4 border-b">数据壁垒最深（55亿记录+2800家医院）</td>
+                <td class="py-3 px-4 border-b">收入确认周期长（6-12个月）</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b font-semibold text-indigo-600">联影医疗</td>
+                <td class="py-3 px-4 border-b">硬件+AI闭环（设备绑定AI订阅）</td>
+                <td class="py-3 px-4 border-b">海外认证进度慢（FDA仅15项）</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 border-b font-semibold text-indigo-600">润达医疗</td>
+                <td class="py-3 px-4 border-b">华为生态卡位（良医小慧已落地60家医院）</td>
+                <td class="py-3 px-4 border-b">应收账款压力大（华西研报提示）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+        
+        <div class="mt-4 p-4 bg-red-50 rounded-lg">
+          <p class="text-red-700"><i class="fas fa-exclamation-circle mr-2"></i><strong>验证与证伪</strong>：研报称"AI制药市场规模43亿美元"，但路演显示<strong class="text-red-600">药企预算收缩</strong>（医渡科技生命科学业务2024年收入下滑15%）</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-red-500"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="bg-red-50 rounded-lg p-4">
+            <h3 class="font-semibold text-red-700 mb-2 flex items-center">
+              <i class="fas fa-microchip mr-2"></i>
+              技术风险
+            </h3>
+            <p class="text-gray-700">多模态融合瓶颈：影像+基因+文本数据尚未打通（联影医疗路演提及"跨模态推理仍需人工干预"）</p>
+          </div>
+          
+          <div class="bg-orange-50 rounded-lg p-4">
+            <h3 class="font-semibold text-orange-700 mb-2 flex items-center">
+              <i class="fas fa-chart-line mr-2"></i>
+              商业化风险
+            </h3>
+            <p class="text-gray-700">基层渗透率低：AI影像设备在三级以下医院覆盖率<strong class="text-orange-600">&lt;5%</strong>（CMEF展会数据）</p>
+          </div>
+        </div>
+        
+        <div class="space-y-4">
+          <div class="bg-yellow-50 rounded-lg p-4">
+            <h3 class="font-semibold text-yellow-700 mb-2 flex items-center">
+              <i class="fas fa-gavel mr-2"></i>
+              政策风险
+            </h3>
+            <p class="text-gray-700">数据跨境限制：海外业务（如医渡科技文莱项目）因数据主权问题进展缓慢</p>
+          </div>
+          
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h3 class="font-semibold text-purple-700 mb-2 flex items-center">
+              <i class="fas fa-balance-scale mr-2"></i>
+              信息矛盾
+            </h3>
+            <p class="text-gray-700">市场规模分歧：Frost预测中国AI药物研发<strong class="text-purple-600">43亿美元</strong>，但路演中华大基因称"药企研发投入下降20%"</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card bg-gradient-to-r from-indigo-600 to-purple-600 rounded-xl shadow-lg p-6 mb-8 text-white">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-trophy mr-3 text-yellow-300"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">阶段判断</h3>
+        <p class="text-indigo-100">当前处于<strong class="text-yellow-300">"政策红利+技术拐点"驱动的主题炒作第二阶段</strong>，需警惕2025Q3后业绩证伪风险</p>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-3">高价值细分</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-indigo-700 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-database mr-2"></i>
+              数据服务商（医渡科技）
+            </h4>
+            <p class="text-indigo-100 text-sm">数据资产重估逻辑，类似"医疗版Snowflake"</p>
+          </div>
+          
+          <div class="bg-indigo-700 bg-opacity-50 rounded-lg p-4">
+            <h4 class="font-semibold mb-2 flex items-center">
+              <i class="fas fa-credit-card mr-2"></i>
+              医保IT龙头（卫宁健康）
+            </h4>
+            <p class="text-indigo-100 text-sm">DRG/DIP支付改革直接受益，AI模块毛利率>80%</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-3">关键跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-start">
+            <i class="fas fa-check-circle text-green-300 mt-1 mr-3"></i>
+            <div>
+              <h4 class="font-semibold">华为医疗军团订单</h4>
+              <p class="text-indigo-100 text-sm">2025年Q2首批签约金额（预计>10亿元）</p>
+            </div>
+          </div>
+          
+          <div class="flex items-start">
+            <i class="fas fa-check-circle text-green-300 mt-1 mr-3"></i>
+            <div>
+              <h4 class="font-semibold">AI诊断医保结算量</h4>
+              <p class="text-indigo-100 text-sm">2025年Q3试点医院结算笔数（当前月均<1000例）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6 p-4 bg-white bg-opacity-20 rounded-lg">
+        <p class="font-bold text-lg text-center">AI医疗创新生态的胜负手不在技术，而在<strong class="text-yellow-300">谁能率先打通"数据-支付-场景"闭环</strong></p>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-gray-800 flex items-center">
+        <i class="fas fa-chart-line mr-3 text-indigo-600"></i>
+        关联股票数据
+      </h2>
+      
+      <div class="space-y-8">
+        <!-- AI 医疗（250215更新） -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">AI 医疗（250215更新）</h3>
+          <div class="table-responsive">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg overflow-hidden">
+              <thead class="bg-gray-50">
+                <tr>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">项目</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">行业</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">润达医疗</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">医疗IT</td>
+                  <td class="py-3 px-4 border-b">华为AI医疗合作</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">华大基因</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">基因检测</td>
+                  <td class="py-3 px-4 border-b">参与医疗大模型开发</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">万东医疗</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">医疗设备</td>
+                  <td class="py-3 px-4 border-b">医疗影像领域合作</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">贝瑞基因</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">基因检测</td>
+                  <td class="py-3 px-4 border-b">基因数据分析合作</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">福瑞股份</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">医疗健康</td>
+                  <td class="py-3 px-4 border-b">慢性病管理领域</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">美年健康</td>
+                  <td class="py-3 px-4 border-b">AI医疗大模型</td>
+                  <td class="py-3 px-4 border-b">健康体检</td>
+                  <td class="py-3 px-4 border-b">健康管理数据支持</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">成都先导</td>
+                  <td class="py-3 px-4 border-b">AI药物研发</td>
+                  <td class="py-3 px-4 border-b">创新药</td>
+                  <td class="py-3 px-4 border-b">药物研发AI应用</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">恒瑞医药</td>
+                  <td class="py-3 px-4 border-b">AI药物研发</td>
+                  <td class="py-3 px-4 border-b">制药</td>
+                  <td class="py-3 px-4 border-b">AI辅助药物筛选</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">泓博医药</td>
+                  <td class="py-3 px-4 border-b">AI药物研发</td>
+                  <td class="py-3 px-4 border-b">CRO</td>
+                  <td class="py-3 px-4 border-b">临床前研究合作</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">药石科技</td>
+                  <td class="py-3 px-4 border-b">AI药物研发</td>
+                  <td class="py-3 px-4 border-b">药物研发</td>
+                  <td class="py-3 px-4 border-b">分子设计AI优化</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- AI医疗(250523) -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">AI医疗(250523)</h3>
+          <div class="table-responsive">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg overflow-hidden">
+              <thead class="bg-gray-50">
+                <tr>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">分类</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">相关业务</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">合作方</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">润达医疗</td>
+                  <td class="py-3 px-4 border-b">医疗大模型</td>
+                  <td class="py-3 px-4 border-b">医学AI智能体"睿兵Agent"</td>
+                  <td class="py-3 px-4 border-b">华西医院、华为、智算云腾（成都）</td>
+                  <td class="py-3 px-4 border-b">由华西医院联合润达医疗、华为、智算云腾（成都）共同研发</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">塞力医疗</td>
+                  <td class="py-3 px-4 border-b">医疗大模型</td>
+                  <td class="py-3 px-4 border-b">脑科学大模型、罕见病/危重症等专病大模型、微生物耐药诊疗及预测大模型</td>
+                  <td class="py-3 px-4 border-b">华为武汉研究所</td>
+                  <td class="py-3 px-4 border-b">与华为武汉研究所合作研发</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">科大讯飞</td>
+                  <td class="py-3 px-4 border-b">医疗大模型</td>
+                  <td class="py-3 px-4 border-b">智能医疗助手（支持语音病历、智能查房）</td>
+                  <td class="py-3 px-4 border-b">讯飞医疗</td>
+                  <td class="py-3 px-4 border-b">华为与讯飞医疗合作开发</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">美年健康</td>
+                  <td class="py-3 px-4 border-b">医疗大模型</td>
+                  <td class="py-3 px-4 border-b">健康小美 辅助医生进行疾病诊断</td>
+                  <td class="py-3 px-4 border-b">华为云、润达医疗</td>
+                  <td class="py-3 px-4 border-b">联合华为云、润达医疗打造</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">安必平</td>
+                  <td class="py-3 px-4 border-b">检验/病理</td>
+                  <td class="py-3 px-4 border-b">基于昇腾AI在病理数据库和算力生态方面合作</td>
+                  <td class="py-3 px-4 border-b">华为</td>
+                  <td class="py-3 px-4 border-b">打造病理科全科数字化产品</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">迪安诊断</td>
+                  <td class="py-3 px-4 border-b">检验/病理</td>
+                  <td class="py-3 px-4 border-b">迪安医检大模型</td>
+                  <td class="py-3 px-4 border-b">华为</td>
+                  <td class="py-3 px-4 border-b">携手华为云发布</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- AI医疗-阿里系(250629)更新 -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-gray-700">AI医疗-阿里系(250629)更新</h3>
+          <div class="table-responsive">
+            <table class="min-w-full bg-white border border-gray-200 rounded-lg overflow-hidden">
+              <thead class="bg-gray-50">
+                <tr>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">分类</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">阿里相关</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">AI医疗相关</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">来源</th>
+                  <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">阿里健康（港）</td>
+                  <td class="py-3 px-4 border-b">阿里系</td>
+                  <td class="py-3 px-4 border-b">阿里系"大健康"业务核心</td>
+                  <td class="py-3 px-4 border-b">AI+健康管理</td>
+                  <td class="py-3 px-4 border-b">公开资料</td>
+                  <td class="py-3 px-4 border-b">公司为阿里巴巴大健康业务核心载体，聚焦AI健康管理应用</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">美年健康</td>
+                  <td class="py-3 px-4 border-b">阿里系</td>
+                  <td class="py-3 px-4 border-b">阿里系（杭州灏月、杭州信投）持股13.17%</td>
+                  <td class="py-3 px-4 border-b">AI+健康管理</td>
+                  <td class="py-3 px-4 border-b">公告</td>
+                  <td class="py-3 px-4 border-b">阿里巴巴通过子公司持股并推动AI健康管理合作</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">漱玉平民</td>
+                  <td class="py-3 px-4 border-b">阿里系</td>
+                  <td class="py-3 px-4 border-b">阿里健康持股6.67%</td>
+                  <td class="py-3 px-4 border-b">中医智能辅助诊疗系统</td>
+                  <td class="py-3 px-4 border-b">互动</td>
+                  <td class="py-3 px-4 border-b">阿里健康参股并合作开发中医AI辅助诊疗技术</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">华人健康</td>
+                  <td class="py-3 px-4 border-b">阿里系</td>
+                  <td class="py-3 px-4 border-b">阿里健康持股5%，合作阿里健康及其关联服务平台</td>
+                  <td class="py-3 px-4 border-b">AI医疗轻问诊</td>
+                  <td class="py-3 px-4 border-b">互动</td>
+                  <td class="py-3 px-4 border-b">持股合作并接入阿里健康AI轻问诊服务</td>
+                </tr>
+                <tr class="hover:bg-gray-50">
+                  <td class="py-3 px-4 border-b font-semibold text-indigo-600">卫宁健康</td>
+                  <td class="py-3 px-4 border-b">阿里系</td>
+                  <td class="py-3 px-4 border-b">阿里系（云鑫创投）持股4.34%，合作阿里健康</td>
+                  <td class="py-3 px-4 border-b">AI一体化诊疗系统</td>
+                  <td class="py-3 px-4 border-b">互动</td>
+                  <td class="py-3 px-4 border-b">阿里系参股并联合开发AI诊疗系统</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <!-- Scripts -->
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 粒子背景效果
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#667eea"
+        },
+        shape: {
+          type: "circle",
+          stroke: {
+            width: 0,
+            color: "#000000"
+          }
+        },
+        opacity: {
+          value: 0.5,
+          random: false,
+          anim: {
+            enable: false,
+            speed: 1,
+            opacity_min: 0.1,
+            sync: false
+          }
+        },
+        size: {
+          value: 3,
+          random: true,
+          anim: {
+            enable: false,
+            speed: 40,
+            size_min: 0.1,
+            sync: false
+          }
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#667eea",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false,
+          attract: {
+            enable: false,
+            rotateX: 600,
+            rotateY: 1200
+          }
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          bubble: {
+            distance: 400,
+            size: 40,
+            duration: 2,
+            opacity: 8,
+            speed: 3
+          },
+          repulse: {
+            distance: 200,
+            duration: 0.4
+          },
+          push: {
+            particles_nb: 4
+          },
+          remove: {
+            particles_nb: 2
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI商业赋能.html

@@ -0,0 +1,558 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI商业赋能 - 行业洞察与股票分析</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+    }
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+    }
+    .card-bg {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(71, 85, 105, 0.3);
+    }
+    .timeline-dot {
+      position: relative;
+    }
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      left: -21px;
+      top: 8px;
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background: #3b82f6;
+    }
+    .timeline-line {
+      position: relative;
+    }
+    .timeline-line::before {
+      content: '';
+      position: absolute;
+      left: -16px;
+      top: 20px;
+      width: 2px;
+      height: calc(100% + 10px);
+      background: #334155;
+    }
+    .timeline-line:last-child::before {
+      display: none;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        overflow-x: scroll;
+      }
+    }
+  </style>
+</head>
+<body class="min-h-screen p-4 md:p-8">
+  <div class="max-w-7xl mx-auto">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AI商业赋能</h1>
+      <p class="text-lg md:text-xl text-slate-300 max-w-3xl mx-auto">
+        AI技术通过降本增效、模式创新、增收变现等方式，深度改造传统行业业务流程与商业模式
+      </p>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="card-bg rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">概念事件</h2>
+      <div class="space-y-6 pl-8">
+        <div class="timeline-line timeline-dot">
+          <div class="font-semibold text-blue-300">2024年8月</div>
+          <p class="mt-2">网信办第七批算法备案（487个算法）落地，腾讯、网易、华为等头部企业密集备案，标志AIGC商业化加速。</p>
+        </div>
+        <div class="timeline-line timeline-dot">
+          <div class="font-semibold text-blue-300">2024年12月</div>
+          <p class="mt-2">DeepSeek开源模型发布，<span class="text-purple-400 font-semibold">推理成本降低85%</span>（每千tokens仅0.003元），推动AI从"堆算力"转向"低成本+开源"路径。</p>
+        </div>
+        <div class="timeline-line timeline-dot">
+          <div class="font-semibold text-blue-300">2025年2月</div>
+          <p class="mt-2">国家医保局召开医保数据赋能商保座谈会，明确医保大数据向商业健康险开放，AI医疗场景落地预期升温。</p>
+        </div>
+        <div class="timeline-dot">
+          <div class="font-semibold text-blue-300">2025年3月</div>
+          <p class="mt-2">腾讯混元、华为昇腾等国产大模型在金融、教育、制造领域规模化部署，<span class="text-purple-400 font-semibold">AI+金融</span>（如东方财富妙想大模型压缩投研流程至30秒）、<span class="text-purple-400 font-semibold">AI+教育</span>（如豆神教育九霄平台课程成本降99%）成为标杆案例。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card-bg rounded-xl p-6 mb-8 border-l-4 border-blue-500">
+      <h2 class="text-2xl font-bold mb-4 text-blue-400">核心观点摘要</h2>
+      <div class="bg-slate-800 rounded-lg p-4">
+        <p class="text-lg leading-relaxed">
+          AI商业赋能已从"技术验证"进入"商业化兑现"阶段，<span class="text-purple-400 font-semibold">低成本开源模型（如DeepSeek）</span>与<span class="text-purple-400 font-semibold">政策数据开放（如医保数据）</span>是核心催化剂。短期看金融、教育、电商场景落地最快，长期需关注<span class="text-purple-400 font-semibold">AI Agent重构产业链</span>的颠覆性机会。
+        </p>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="grid grid-cols-1 lg:grid-cols-2 gap-6 mb-8">
+      <div class="card-bg rounded-xl p-6">
+        <h3 class="text-xl font-bold mb-4 text-blue-400">核心驱动力</h3>
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="bg-blue-500 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-microchip text-white text-sm"></i>
+            </div>
+            <div>
+              <h4 class="font-semibold">技术拐点</h4>
+              <p class="text-sm text-slate-300">DeepSeek等模型<span class="text-purple-400 font-semibold">推理成本下降85%</span>（2024年12月），使AI从"高门槛实验"变为"普惠工具"。</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-green-500 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-file-contract text-white text-sm"></i>
+            </div>
+            <div>
+              <h4 class="font-semibold">政策红利</h4>
+              <p class="text-sm text-slate-300">医保数据开放（2025年2月）、算法备案加速（2024年8月），为AI医疗、金融提供合规数据基础。</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-purple-500 rounded-full p-2 mr-3 mt-1">
+              <i class="fas fa-chart-line text-white text-sm"></i>
+            </div>
+            <div>
+              <h4 class="font-semibold">需求刚性</h4>
+              <p class="text-sm text-slate-300">企业降本增效需求迫切（如多邻国AI裁员后人效提升50%），C端用户为AI功能付费意愿增强（如科大讯飞AI学习机GMV同比增85%）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div class="card-bg rounded-xl p-6">
+        <h3 class="text-xl font-bold mb-4 text-blue-400">市场热度与预期差</h3>
+        <div class="space-y-4">
+          <div>
+            <h4 class="font-semibold mb-2">市场热度与情绪</h4>
+            <ul class="text-sm text-slate-300 space-y-2">
+              <li>• <span class="text-purple-400 font-semibold">研报密集度</span>：2024年12月-2025年3月，超20篇研报聚焦AI+金融/教育/电商，情绪从"概念炒作"转向"订单验证"。</li>
+              <li>• <span class="text-purple-400 font-semibold">路演反馈</span>：梅卡曼德（工业机器人）披露全球部署1.5万台设备，客户复购率80%，验证商业化闭环。</li>
+            </ul>
+          </div>
+          <div>
+            <h4 class="font-semibold mb-2">预期差分析</h4>
+            <div class="bg-slate-800 rounded-lg p-3">
+              <p class="text-sm"><span class="text-yellow-400 font-semibold">市场共识</span>：AI将替代人力降本。</p>
+              <p class="text-sm mt-2"><span class="text-green-400 font-semibold">预期差</span>：实际落地中，<span class="text-purple-400 font-semibold">数据壁垒</span>（如华大基因百万级基因数据）和<span class="text-purple-400 font-semibold">场景Know-how</span>（如焦点科技外贸AI需历史订单训练）才是护城河，纯技术公司可能掉队。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card-bg rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">关键催化剂与未来发展路径</h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-purple-400">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full p-1 mr-3 mt-1">
+                <i class="fas fa-check text-white text-xs"></i>
+              </div>
+              <p><span class="font-semibold">政策落地</span>：医保数据向商保开放细则（2025年Q2），催化AI医疗险产品爆发。</p>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full p-1 mr-3 mt-1">
+                <i class="fas fa-check text-white text-xs"></i>
+              </div>
+              <p><span class="font-semibold">技术迭代</span>：华为昇腾920芯片量产（2025年Q3），<span class="text-purple-400 font-semibold">国产算力替代</span>加速。</p>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full p-1 mr-3 mt-1">
+                <i class="fas fa-check text-white text-xs"></i>
+              </div>
+              <p><span class="font-semibold">订单验证</span>：科大讯飞AI学习机2025年Q1出货量（需跟踪是否突破<span class="text-purple-400 font-semibold">100万台</span>）。</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-purple-400">长期路径</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full p-1 mr-3 mt-1">
+                <span class="text-white text-xs font-bold">1</span>
+              </div>
+              <p><span class="font-semibold">2025-2026</span>：垂直场景AI Agent普及（如金融投顾、教育私教）。</p>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full p-1 mr-3 mt-1">
+                <span class="text-white text-xs font-bold">2</span>
+              </div>
+              <p><span class="font-semibold">2027-2028</span>：AI重构产业链（如AI制药缩短研发周期50%）。</p>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full p-1 mr-3 mt-1">
+                <span class="text-white text-xs font-bold">3</span>
+              </div>
+              <p><span class="font-semibold">2029+</span>：通用AI Agent成为企业标配，<span class="text-purple-400 font-semibold">人力成本占比降至30%以下</span>。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card-bg rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">产业链与核心公司深度剖析</h2>
+      
+      <!-- 产业链图谱 -->
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-purple-400">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-slate-800 rounded-lg p-4 text-center">
+            <div class="text-blue-400 font-bold mb-2">上游</div>
+            <div class="text-sm">算力（寒武纪、海光信息）</div>
+            <div class="text-sm">数据（医保局、华大基因）</div>
+          </div>
+          <div class="bg-slate-800 rounded-lg p-4 text-center">
+            <div class="text-purple-400 font-bold mb-2">中游</div>
+            <div class="text-sm">大模型（腾讯混元、科大讯飞星火）</div>
+            <div class="text-sm">AI工具（WPS AI、焦点科技AI麦可）</div>
+          </div>
+          <div class="bg-slate-800 rounded-lg p-4 text-center">
+            <div class="text-green-400 font-bold mb-2">下游</div>
+            <div class="text-sm">金融（同花顺）</div>
+            <div class="text-sm">教育（豆神教育）</div>
+            <div class="text-sm">电商（值得买）</div>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 核心玩家对比 -->
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-purple-400">核心玩家对比</h3>
+        <div class="table-container">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4">公司</th>
+                <th class="text-left py-3 px-4">场景优势</th>
+                <th class="text-left py-3 px-4">数据壁垒</th>
+                <th class="text-left py-3 px-4">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">科大讯飞</td>
+                <td class="py-3 px-4">教育AI市占率第一</td>
+                <td class="py-3 px-4">2亿学生语音数据</td>
+                <td class="py-3 px-4">硬件毛利率承压</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">焦点科技</td>
+                <td class="py-3 px-4">外贸AI唯一规模化应用</td>
+                <td class="py-3 px-4">10年历史订单数据</td>
+                <td class="py-3 px-4">跨境政策波动</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-blue-400">华大基因</td>
+                <td class="py-3 px-4">基因AI临床落地</td>
+                <td class="py-3 px-4">百万级基因组数据</td>
+                <td class="py-3 px-4">伦理审批延迟</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card-bg rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">潜在风险与挑战</h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <h3 class="text-lg font-semibold mb-3 text-red-400">技术风险</h3>
+          <ul class="space-y-2 text-sm">
+            <li>• <span class="font-semibold">算力瓶颈</span>：英伟达H100禁售，国产芯片性能差距3倍（寒武纪vs英伟达）。</li>
+            <li>• <span class="font-semibold">模型幻觉</span>：医疗AI误诊率若超0.1%，可能引发法律诉讼。</li>
+          </ul>
+        </div>
+        <div class="bg-yellow-900/20 border border-yellow-800/50 rounded-lg p-4">
+          <h3 class="text-lg font-semibold mb-3 text-yellow-400">商业化风险</h3>
+          <ul class="space-y-2 text-sm">
+            <li>• <span class="font-semibold">付费意愿</span>：C端AI工具ARPU仅20元/月（值得买数据），低于预期。</li>
+            <li>• <span class="font-semibold">场景碎片化</span>：工业AI需定制化，难以标准化复制。</li>
+          </ul>
+        </div>
+        <div class="bg-orange-900/20 border border-orange-800/50 rounded-lg p-4">
+          <h3 class="text-lg font-semibold mb-3 text-orange-400">政策风险</h3>
+          <ul class="space-y-2 text-sm">
+            <li>• <span class="font-semibold">数据合规</span>：医保数据开放可能因隐私问题收紧。</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card-bg rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">综合结论与投资启示</h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-purple-400">阶段判断</h3>
+          <div class="bg-slate-800 rounded-lg p-4">
+            <p class="leading-relaxed">
+              AI商业赋能处于<span class="text-purple-400 font-semibold">"订单验证期"</span>，头部公司（如科大讯飞、焦点科技）已进入基本面驱动阶段，主题炒作风险降低。
+            </p>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-purple-400">投资方向</h3>
+          <div class="space-y-3">
+            <div class="bg-slate-800 rounded-lg p-3">
+              <h4 class="font-semibold text-blue-400">高景气细分</h4>
+              <p class="text-sm">AI+金融（恒生电子）、AI+教育（豆神教育）</p>
+            </div>
+            <div class="bg-slate-800 rounded-lg p-3">
+              <h4 class="font-semibold text-blue-400">数据垄断型</h4>
+              <p class="text-sm">华大基因（基因数据）、美年健康（体检数据）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6">
+        <h3 class="text-xl font-semibold mb-4 text-purple-400">跟踪指标</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-slate-800 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-400 mb-2">科大讯飞</h4>
+            <p class="text-sm">AI学习机<span class="text-purple-400 font-semibold">季度出货量</span>（需突破100万台）</p>
+          </div>
+          <div class="bg-slate-800 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-400 mb-2">焦点科技</h4>
+            <p class="text-sm">AI麦可<span class="text-purple-400 font-semibold">付费转化率</span>（当前30%，目标50%）</p>
+          </div>
+          <div class="bg-slate-800 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-400 mb-2">政策</h4>
+            <p class="text-sm">医保数据开放<span class="text-purple-400 font-semibold">试点城市数量</span>（需超10个）</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="card-bg rounded-xl p-6">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">关联股票数据</h2>
+      
+      <!-- AI电商跨境电商 -->
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-purple-400">AI电商跨境电商(240527)</h3>
+        <div class="table-container">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4">股票</th>
+                <th class="text-left py-3 px-4">行业</th>
+                <th class="text-left py-3 px-4">项目</th>
+                <th class="text-left py-3 px-4">产业链/合作伙伴/业绩表现</th>
+                <th class="text-left py-3 px-4">原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">易点天下</td>
+                <td class="py-3 px-4">AI营销</td>
+                <td class="py-3 px-4">KreadoAI平台、CPA计价模式、智能系统开发</td>
+                <td class="py-3 px-4">中长尾媒体投放</td>
+                <td class="py-3 px-4">公司通过KreadoAI平台和智能系统优化广告服务，且在中长尾媒体投放经验丰富</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">蓝色光标</td>
+                <td class="py-3 px-4">AI营销</td>
+                <td class="py-3 px-4">营销行业模型、AI时代营销数据底座/工作流底座</td>
+                <td class="py-3 px-4">微软、谷歌、智谱</td>
+                <td class="py-3 px-4">与科技巨头合作构建AI营销基础设施，发展行业模型和数据底座</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">汇量科技</td>
+                <td class="py-3 px-4">AI电商</td>
+                <td class="py-3 px-4">Target ROAS智能出价功能</td>
+                <td class="py-3 px-4">24H1流水超Mintegral总流水60%，Q3业绩加速</td>
+                <td class="py-3 px-4">智能出价功能上线后对集团收入贡献显著提升</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">焦点科技</td>
+                <td class="py-3 px-4">AI电商</td>
+                <td class="py-3 px-4">AI+跨境产品"门道（Mentarc）"、AI麦可4.0版本升级</td>
+                <td class="py-3 px-4">跨境电商</td>
+                <td class="py-3 px-4">发布跨境AI产品并升级AI工具，拓展跨境电商产业链应用</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">值得买</td>
+                <td class="py-3 px-4">电商</td>
+                <td class="py-3 px-4">AI购物助手"小值"</td>
+                <td class="py-3 px-4">双11期间GMV占比78.5%，服务量环比提升40%</td>
+                <td class="py-3 px-4">AI助手在促销期间显著提升交易规模和服务效率</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">青木股份</td>
+                <td class="py-3 px-4">其他</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">未明确提及具体AI相关项目或产业链定位</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">遥望科技</td>
+                <td class="py-3 px-4">其他</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">未明确提及具体AI相关项目或产业链定位</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-blue-400">返利科技</td>
+                <td class="py-3 px-4">其他</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">-</td>
+                <td class="py-3 px-4">未明确提及具体AI相关项目或产业链定位</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <!-- AI营销 -->
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-purple-400">AI营销（20241111）</h3>
+        <div class="table-container">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4">股票</th>
+                <th class="text-left py-3 px-4">行业</th>
+                <th class="text-left py-3 px-4">项目</th>
+                <th class="text-left py-3 px-4">分类</th>
+                <th class="text-left py-3 px-4">原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">易点天下</td>
+                <td class="py-3 px-4">互联网营销</td>
+                <td class="py-3 px-4">TikTok出海</td>
+                <td class="py-3 px-4">出海概念</td>
+                <td class="py-3 px-4">为全球广告主提供互联网营销服务，涉及TikTok出海项目</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">蓝色光标</td>
+                <td class="py-3 px-4">营销服务</td>
+                <td class="py-3 px-4">AI营销、出海、SIP</td>
+                <td class="py-3 px-4">AI营销、出海概念</td>
+                <td class="py-3 px-4">在数字营销、广告投放等领域具有较强竞争力，与字节跳动合作代理TikTok海外广告</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">智度股份</td>
+                <td class="py-3 px-4">互联网广告</td>
+                <td class="py-3 px-4">TikTok合作</td>
+                <td class="py-3 px-4">出海概念</td>
+                <td class="py-3 px-4">AppLovin合作伙伴，代理TikTok海外广告业务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">奥美传媒</td>
+                <td class="py-3 px-4">数字营销</td>
+                <td class="py-3 px-4">TikTok电商</td>
+                <td class="py-3 px-4">电商概念</td>
+                <td class="py-3 px-4">公司提供数字营销服务，涉及TikTok电商领域</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">汤姆猫</td>
+                <td class="py-3 px-4">移动互联网</td>
+                <td class="py-3 px-4">Outfit7、TikTok广告</td>
+                <td class="py-3 px-4">游戏出海</td>
+                <td class="py-3 px-4">子公司Outfit7开发的休闲游戏通过TikTok推广，广告业务与TikTok合作</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">昆仑万维</td>
+                <td class="py-3 px-4">互联网平台</td>
+                <td class="py-3 px-4">Opera、TikTok广告</td>
+                <td class="py-3 px-4">出海平台</td>
+                <td class="py-3 px-4">Opera浏览器与TikTok合作推广广告业务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">宣亚国际</td>
+                <td class="py-3 px-4">整合营销</td>
+                <td class="py-3 px-4">SHUNYA INTERNATIONAL合作</td>
+                <td class="py-3 px-4">出海服务</td>
+                <td class="py-3 px-4">子公司SHUNYA INTERNATIONAL与TikTok合作提供出海营销服务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">因赛集团</td>
+                <td class="py-3 px-4">营销服务</td>
+                <td class="py-3 px-4">AI视频生成</td>
+                <td class="py-3 px-4">AI营销</td>
+                <td class="py-3 px-4">研发的AI视频生成应用产品支持短视频营销</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">天龙集团</td>
+                <td class="py-3 px-4">互联网营销</td>
+                <td class="py-3 px-4">TikTok广告代理</td>
+                <td class="py-3 px-4">出海广告</td>
+                <td class="py-3 px-4">提供互联网营销服务，涉及TikTok广告代理业务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">久其软件</td>
+                <td class="py-3 px-4">TikTok出海服务商</td>
+                <td class="py-3 px-4">PandaMobo</td>
+                <td class="py-3 px-4">出海服务</td>
+                <td class="py-3 px-4">TikTok方舟出海服务商，提供海外流量整合营销服务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">每日互动</td>
+                <td class="py-3 px-4">数据智能</td>
+                <td class="py-3 px-4">AI+大数据</td>
+                <td class="py-3 px-4">AI数据服务</td>
+                <td class="py-3 px-4">在数据智能领域技术研发，推出AI+大数据产品</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">浙文互联</td>
+                <td class="py-3 px-4">数字营销</td>
+                <td class="py-3 px-4">AI+营销</td>
+                <td class="py-3 px-4">AI营销</td>
+                <td class="py-3 px-4">全面进入AI+营销领域，重点发展智能投放与创意服务</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-semibold text-blue-400">引力传媒</td>
+                <td class="py-3 px-4">互联网营销</td>
+                <td class="py-3 px-4">TikTok电商</td>
+                <td class="py-3 px-4">电商出海</td>
+                <td class="py-3 px-4">业务涉及TikTok电商平台营销服务</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-blue-400">宝通科技</td>
+                <td class="py-3 px-4">游戏出海</td>
+                <td class="py-3 px-4">TikTok合作</td>
+                <td class="py-3 px-4">游戏出海</td>
+                <td class="py-3 px-4">年报披露与TikTok合作推进游戏出海业务</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+  </div>
+</body>
+</html>
+```

public/htmls/AI成人陪伴.html

@@ -0,0 +1,436 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI成人陪伴概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+      min-height: 100vh;
+    }
+    .glass-effect {
+      background: rgba(255, 255, 255, 0.1);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.2);
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background-color: #818cf8;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      width: 2px;
+      background-color: #e0e7ff;
+      position: absolute;
+      left: 0;
+      top: 0;
+      bottom: 0;
+    }
+    .highlight-text {
+      background: linear-gradient(120deg, #a78bfa 0%, #ec4899 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 30px rgba(0, 0, 0, 0.2);
+    }
+    @keyframes float {
+      0% { transform: translateY(0px); }
+      50% { transform: translateY(-10px); }
+      100% { transform: translateY(0px); }
+    }
+    .float-animation {
+      animation: float 4s ease-in-out infinite;
+    }
+  </style>
+</head>
+<body class="text-gray-800">
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- Header Section -->
+    <header class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-white mb-4 float-animation">AI成人陪伴概念分析</h1>
+      <p class="text-xl text-purple-100 max-w-3xl mx-auto">技术、需求与政策三重共振的稀缺赛道</p>
+    </header>
+
+    <!-- Key Insights Section -->
+    <section class="mb-12">
+      <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+        <h2 class="text-2xl md:text-3xl font-bold text-white mb-6">核心观点摘要</h2>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+          <div class="bg-white bg-opacity-20 rounded-xl p-6">
+            <div class="text-purple-300 text-sm mb-2">阶段判断</div>
+            <p class="text-white font-medium">AI成人陪伴已从"概念验证"进入<strong class="text-yellow-300">商业化落地早期</strong></p>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-xl p-6">
+            <div class="text-purple-300 text-sm mb-2">核心驱动力</div>
+            <p class="text-white font-medium"><strong class="text-yellow-300">技术降本</strong> + <strong class="text-yellow-300">场景刚需</strong> + <strong class="text-yellow-300">IP变现</strong></p>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-xl p-6">
+            <div class="text-purple-300 text-sm mb-2">未来潜力</div>
+            <p class="text-white font-medium">2030年全球市场规模或达<strong class="text-yellow-300">1500亿美元</strong></p>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- Timeline Section -->
+    <section class="mb-12">
+      <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+        <h2 class="text-2xl md:text-3xl font-bold text-white mb-6">概念发展时间轴</h2>
+        <div class="relative pl-8">
+          <div class="timeline-line"></div>
+          <div class="space-y-8">
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="bg-white bg-opacity-20 rounded-lg p-4 ml-4">
+                <div class="text-yellow-300 font-semibold">2024年5月</div>
+                <p class="text-white">Character.AI、Talkie等海外AI陪伴应用用户破千万，验证情感陪伴需求</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="bg-white bg-opacity-20 rounded-lg p-4 ml-4">
+                <div class="text-yellow-300 font-semibold">2024年8月</div>
+                <p class="text-white">字节跳动推出"猫箱"，国内AI陪伴应用MAU达<strong>688万</strong>，环比增长<strong>50.2%</strong></p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="bg-white bg-opacity-20 rounded-lg p-4 ml-4">
+                <div class="text-yellow-300 font-semibold">2024年11月</div>
+                <p class="text-white">卡西欧发布AI宠物机器人Moflin（售价<strong>398美元</strong>），成人用户占比超60%</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="bg-white bg-opacity-20 rounded-lg p-4 ml-4">
+                <div class="text-yellow-300 font-semibold">2025年2月</div>
+                <p class="text-white">A股"AI成人娃娃"概念爆发，金三玩美MetaBox产品海外售价<strong>1500-2000美元</strong></p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="bg-white bg-opacity-20 rounded-lg p-4 ml-4">
+                <div class="text-yellow-300 font-semibold">2025年5月</div>
+                <p class="text-white">恺英网络投资的3D AI伴侣《EVE》开启内测，B站预告片播放量破百万</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- Market Analysis Section -->
+    <section class="mb-12">
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+          <h3 class="text-xl md:text-2xl font-bold text-white mb-4">核心驱动力</h3>
+          <div class="space-y-4">
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3">
+                <span class="text-white font-bold text-sm">1</span>
+              </div>
+              <div>
+                <h4 class="text-white font-semibold mb-1">技术突破</h4>
+                <p class="text-purple-100 text-sm">多模态交互延迟降至<strong>200-300毫秒</strong>，拟人化能力质变</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3">
+                <span class="text-white font-bold text-sm">2</span>
+              </div>
+              <div>
+                <h4 class="text-white font-semibold mb-1">需求刚性</h4>
+                <p class="text-purple-100 text-sm"><strong>58.7%青年</strong>体验过付费陪伴服务，AI女友搜索热度为AI男友的<strong>4倍</strong></p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3">
+                <span class="text-white font-bold text-sm">3</span>
+              </div>
+              <div>
+                <h4 class="text-white font-semibold mb-1">政策友好</h4>
+                <p class="text-purple-100 text-sm">《人工智能法示范法2.0》明确情感陪伴场景合规边界</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+          <h3 class="text-xl md:text-2xl font-bold text-white mb-4">未来发展路径</h3>
+          <div class="space-y-4">
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <div class="text-yellow-300 font-semibold mb-1">阶段1（2025-2026）</div>
+              <p class="text-white text-sm">硬件爆发期——AI玩具/机器人销量破<strong>100万台</strong></p>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <div class="text-yellow-300 font-semibold mb-1">阶段2（2027-2028）</div>
+              <p class="text-white text-sm">场景深化期——<strong>养老陪护</strong>、<strong>心理咨询</strong>规模化</p>
+            </div>
+            <div class="bg-white bg-opacity-20 rounded-lg p-4">
+              <div class="text-yellow-300 font-semibold mb-1">阶段3（2029-2030）</div>
+              <p class="text-white text-sm">生态成熟期——形成"AI伴侣OS"，头部公司市占率超<strong>60%</strong></p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+
+    <!-- Stock Data Section -->
+    <section class="mb-12">
+      <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+        <h2 class="text-2xl md:text-3xl font-bold text-white mb-6">关联股票分析</h2>
+        <div class="overflow-x-auto">
+          <table class="w-full text-white">
+            <thead>
+              <tr class="border-b border-purple-300">
+                <th class="text-left py-3 px-4">股票名称</th>
+                <th class="text-left py-3 px-4">行业</th>
+                <th class="text-left py-3 px-4">项目/分类</th>
+                <th class="text-left py-3 px-4">产业链</th>
+                <th class="text-left py-3 px-4">关联原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">硅宝科技</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">情趣机器人皮肤层及关节密封</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">硅胶龙头，产品覆盖情趣机器人皮肤层及关节密封，导电硅胶传感器可提升触觉反馈精度</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">宏柏新材</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">液态硅胶</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">提供液态硅胶材料</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">浙江众成</td>
+                <td class="py-3 px-4">热塑弹性体</td>
+                <td class="py-3 px-4">SEPS材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">SEPS材料具备高弹性，直接替代进口TPE材料，成本降低30%</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">道恩股份</td>
+                <td class="py-3 px-4">热塑弹性体</td>
+                <td class="py-3 px-4">TPV产品</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">热塑弹性体TPV产品可进口替代，应用于机器人手臂尼龙材料、合金材料等</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">长鸿高科</td>
+                <td class="py-3 px-4">热塑弹性体</td>
+                <td class="py-3 px-4">TPE产品</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">主营产品TPE具有软弹肉感和温感性能，是主流仿生皮肤材料</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">趣睡科技</td>
+                <td class="py-3 px-4">中游AI</td>
+                <td class="py-3 px-4">DeepSeek睡眠模型</td>
+                <td class="py-3 px-4"><span class="bg-blue-600 px-2 py-1 rounded text-xs">技术迁移</span></td>
+                <td class="py-3 px-4 text-sm">借力DeepSeek睡眠数据分析模型，技术迁移至情趣机器人领域</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">爱慕股份</td>
+                <td class="py-3 px-4">中游AI</td>
+                <td class="py-3 px-4">健康管家型机器人</td>
+                <td class="py-3 px-4"><span class="bg-blue-600 px-2 py-1 rounded text-xs">可穿戴技术</span></td>
+                <td class="py-3 px-4 text-sm">将文胸压力传感、温控技术应用于机器人可穿戴层，计划2025年推出</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">汉威科技</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">电子皮肤</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">电子皮肤</span></td>
+                <td class="py-3 px-4 text-sm">涉及电子皮肤技术</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">歌尔股份</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">声音</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">声音</span></td>
+                <td class="py-3 px-4 text-sm">涉及声音相关技术</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">合盛硅业</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">其他上游材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">涉及硅胶产业链上游材料供应</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">东岳硅材</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">其他上游材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">涉及硅胶产业链上游材料供应</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">新安股份</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">其他上游材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">涉及硅胶产业链上游材料供应</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">回天新材</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">其他上游材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">涉及硅胶产业链上游材料供应</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">晨光新材</td>
+                <td class="py-3 px-4">硅胶</td>
+                <td class="py-3 px-4">其他上游材料</td>
+                <td class="py-3 px-4"><span class="bg-purple-600 px-2 py-1 rounded text-xs">上游材料</span></td>
+                <td class="py-3 px-4 text-sm">涉及硅胶产业链上游材料供应</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">瑞贝卡</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">假发</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">假发</span></td>
+                <td class="py-3 px-4 text-sm">假发相关业务</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">申昊科技</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">电子皮肤</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">电子皮肤</span></td>
+                <td class="py-3 px-4 text-sm">涉及电子皮肤技术</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">福莱新材</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">电子皮肤</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">电子皮肤</span></td>
+                <td class="py-3 px-4 text-sm">涉及电子皮肤技术</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">敏芯股份</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">声音</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">声音</span></td>
+                <td class="py-3 px-4 text-sm">涉及声音相关技术</td>
+              </tr>
+              <tr class="border-b border-purple-200 border-opacity-30 hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">共达电声</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">声音</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">声音</span></td>
+                <td class="py-3 px-4 text-sm">涉及声音相关技术</td>
+              </tr>
+              <tr class="hover:bg-white hover:bg-opacity-10">
+                <td class="py-3 px-4 font-semibold text-yellow-300">国光电器</td>
+                <td class="py-3 px-4">其他零部件</td>
+                <td class="py-3 px-4">声音</td>
+                <td class="py-3 px-4"><span class="bg-green-600 px-2 py-1 rounded text-xs">声音</span></td>
+                <td class="py-3 px-4 text-sm">涉及声音相关技术</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </section>
+
+    <!-- Conclusion Section -->
+    <section class="mb-12">
+      <div class="glass-effect rounded-2xl p-6 md:p-8 card-hover">
+        <h2 class="text-2xl md:text-3xl font-bold text-white mb-6">投资启示</h2>
+        <div class="bg-gradient-to-r from-purple-600 to-pink-600 rounded-xl p-6 mb-6">
+          <blockquote class="text-white text-lg italic">
+            "AI成人陪伴是技术+需求+政策三重共振的稀缺赛道，短期看硬件放量，长期看IP生态。建议超配材料龙头，标配IP硬件厂商，回避纯软件标的直至留存数据改善。"
+          </blockquote>
+        </div>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-white bg-opacity-20 rounded-xl p-6">
+            <h3 class="text-xl font-bold text-white mb-4">高价值细分</h3>
+            <ul class="space-y-3">
+              <li class="flex items-start">
+                <div class="bg-yellow-400 rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+                  <span class="text-purple-900 font-bold text-xs">1</span>
+                </div>
+                <div>
+                  <h4 class="text-white font-semibold">上游材料</h4>
+                  <p class="text-purple-100 text-sm">硅宝科技、浙江众成——技术壁垒高+订单爆发</p>
+                </div>
+              </li>
+              <li class="flex items-start">
+                <div class="bg-yellow-400 rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+                  <span class="text-purple-900 font-bold text-xs">2</span>
+                </div>
+                <div>
+                  <h4 class="text-white font-semibold">IP硬件</h4>
+                  <p class="text-purple-100 text-sm">奥飞娱乐——喜羊羊/超级飞侠IP+字节生态赋能</p>
+                </div>
+              </li>
+            </ul>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-xl p-6">
+            <h3 class="text-xl font-bold text-white mb-4">关键跟踪指标</h3>
+            <div class="space-y-3">
+              <div>
+                <h4 class="text-white font-semibold mb-1">硬件</h4>
+                <p class="text-purple-100 text-sm">2025年H1 AI玩具出货量、柔性皮肤材料价格</p>
+              </div>
+              <div>
+                <h4 class="text-white font-semibold mb-1">软件</h4>
+                <p class="text-purple-100 text-sm">星野/猫箱次月留存率能否突破50%、订阅ARPU值</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+  </div>
+
+  <script>
+    // Add some interactive elements
+    document.addEventListener('DOMContentLoaded', function() {
+      // Smooth scroll for any internal links
+      document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+        anchor.addEventListener('click', function (e) {
+          e.preventDefault();
+          document.querySelector(this.getAttribute('href')).scrollIntoView({
+            behavior: 'smooth'
+          });
+        });
+      });
+
+      // Add hover effect to cards
+      const cards = document.querySelectorAll('.card-hover');
+      cards.forEach(card => {
+        card.addEventListener('mouseenter', function() {
+          this.style.transform = 'translateY(-5px)';
+        });
+        card.addEventListener('mouseleave', function() {
+          this.style.transform = 'translateY(0)';
+        });
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI教育商业化浪潮.html

@@ -0,0 +1,532 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI教育商业化浪潮</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+      position: relative;
+      overflow-x: hidden;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(135deg, #3b82f6 0%, #8b5cf6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .card-gradient {
+      background: rgba(255, 255, 255, 0.05);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+    }
+    
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background: #3b82f6;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+      box-shadow: 0 0 0 4px rgba(59, 130, 246, 0.2);
+    }
+    
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 0;
+      bottom: 0;
+      width: 1px;
+      background: linear-gradient(to bottom, transparent, #3b82f6, transparent);
+    }
+    
+    .table-container {
+      overflow-x: auto;
+      -webkit-overflow-scrolling: touch;
+    }
+    
+    @media (max-width: 768px) {
+      .timeline-line {
+        display: none;
+      }
+      .timeline-dot {
+        display: none;
+      }
+    }
+    
+    .particle-bg {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.1) 0%, rgba(139, 92, 246, 0.1) 100%);
+      border-left: 4px solid #3b82f6;
+    }
+    
+    .stock-badge {
+      display: inline-block;
+      padding: 2px 8px;
+      border-radius: 12px;
+      font-size: 12px;
+      font-weight: 500;
+    }
+    
+    .badge-edu { background: rgba(34, 197, 94, 0.2); color: #22c55e; }
+    .badge-tech { background: rgba(59, 130, 246, 0.2); color: #3b82f6; }
+    .badge-media { background: rgba(168, 85, 247, 0.2); color: #a855f7; }
+    .badge-other { background: rgba(251, 146, 60, 0.2); color: #fb923c; }
+    .badge-bse { background: rgba(236, 72, 153, 0.2); color: #ec4899; }
+  </style>
+</head>
+<body class="text-gray-100">
+  <div id="particles-js" class="particle-bg"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AI教育商业化浪潮</h1>
+      <p class="text-gray-400 text-lg">从技术验证到规模化落地的产业变革</p>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-4 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-400 mr-3"></i>
+        核心观点摘要
+      </h2>
+      <div class="highlight-box rounded-lg p-4 mb-4">
+        <p class="text-gray-200 leading-relaxed">
+          AI教育商业化已从<strong class="text-blue-400">技术验证期</strong>进入<strong class="text-purple-400">规模化落地期</strong>，核心驱动力是<strong class="text-green-400">政策强制渗透</strong>（教育部2030目标）+<strong class="text-blue-400">技术成本骤降</strong>（DeepSeek开源）+<strong class="text-purple-400">场景刚需</strong>（个性化学习）。当前处于<strong class="text-yellow-400">"渗透率从5%到30%"</strong>的爆发前夜，<strong class="text-green-400">教育硬件和To B信息化</strong>是最快变现路径。
+        </p>
+      </div>
+    </div>
+    
+    <!-- 概念事件时间轴 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-timeline text-blue-400 mr-3"></i>
+        概念事件时间轴
+      </h2>
+      <div class="relative pl-8">
+        <div class="timeline-line"></div>
+        
+        <div class="relative mb-6">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2024年2月</h3>
+            <p class="text-gray-300">DeepSeek开源模型发布，以<strong class="text-yellow-400">低成本（训练成本仅为GPT-4的1/10）</strong>和<strong class="text-purple-400">高推理能力</strong>引发行业震动</p>
+          </div>
+        </div>
+        
+        <div class="relative mb-6">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2024年6月</h3>
+            <p class="text-gray-300">教育部等九部门发布《关于加快推进教育数字化的意见》，明确<strong class="text-green-400">"AI+教育"应用场景新范式</strong></p>
+          </div>
+        </div>
+        
+        <div class="relative mb-6">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2024年7月</h3>
+            <p class="text-gray-300">豆神教育发布AI教育生态矩阵，<strong class="text-yellow-400">7天GMV突破1740万</strong>（超市场预期1000万）</p>
+          </div>
+        </div>
+        
+        <div class="relative mb-6">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2024年10月</h3>
+            <p class="text-gray-300">科大讯飞星火4.0 Turbo发布，<strong class="text-purple-400">数学能力超越GPT-4o</strong></p>
+          </div>
+        </div>
+        
+        <div class="relative mb-6">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2025年1月</h3>
+            <p class="text-gray-300">学而思、科大讯飞、作业帮等头部教育公司<strong class="text-green-400">全面接入DeepSeek</strong>，学习机销量爆发</p>
+          </div>
+        </div>
+        
+        <div class="relative">
+          <div class="timeline-dot"></div>
+          <div class="bg-gray-800 rounded-lg p-4">
+            <h3 class="text-blue-400 font-semibold mb-1">2025年2月</h3>
+            <p class="text-gray-300">头部券商密集发布研报，将AI教育定义为<strong class="text-yellow-400">"AI应用落地的核心场景"</strong></p>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心驱动力 -->
+    <div class="grid md:grid-cols-3 gap-6 mb-8">
+      <div class="card-gradient rounded-2xl p-6">
+        <div class="text-center mb-4">
+          <i class="fas fa-landmark text-4xl text-green-400"></i>
+        </div>
+        <h3 class="text-xl font-bold mb-3 text-center">政策强制驱动</h3>
+        <ul class="space-y-2 text-gray-300">
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+            <span>教育部要求2025年前中小学AI课程全覆盖</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+            <span>财政性教育经费8%必须投入信息化</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+            <span>2023年市场规模已超4600亿元</span>
+          </li>
+        </ul>
+      </div>
+      
+      <div class="card-gradient rounded-2xl p-6">
+        <div class="text-center mb-4">
+          <i class="fas fa-microchip text-4xl text-blue-400"></i>
+        </div>
+        <h3 class="text-xl font-bold mb-3 text-center">技术成本拐点</h3>
+        <ul class="space-y-2 text-gray-300">
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-blue-400 mt-1 mr-2"></i>
+            <span>DeepSeek将AI调用成本从0.03美元降至0.001美元</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-blue-400 mt-1 mr-2"></i>
+            <span>教育公司毛利率提升15-20个百分点</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-blue-400 mt-1 mr-2"></i>
+            <span>开源模型加速行业普及</span>
+          </li>
+        </ul>
+      </div>
+      
+      <div class="card-gradient rounded-2xl p-6">
+        <div class="text-center mb-4">
+          <i class="fas fa-users text-4xl text-purple-400"></i>
+        </div>
+        <h3 class="text-xl font-bold mb-3 text-center">场景刚需验证</h3>
+        <ul class="space-y-2 text-gray-300">
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-purple-400 mt-1 mr-2"></i>
+            <span>C端：学习机AI功能付费率达23.5%</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-purple-400 mt-1 mr-2"></i>
+            <span>B端：智慧校园AI模块渗透率从12%提升至37%</span>
+          </li>
+          <li class="flex items-start">
+            <i class="fas fa-check-circle text-purple-400 mt-1 mr-2"></i>
+            <span>错题本、口语陪练等高频需求明确</span>
+          </li>
+        </ul>
+      </div>
+    </div>
+    
+    <!-- 关联股票数据表格 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-line text-green-400 mr-3"></i>
+        关联股票数据
+      </h2>
+      
+      <div class="overflow-x-auto">
+        <table class="w-full text-sm">
+          <thead>
+            <tr class="border-b border-gray-700">
+              <th class="text-left py-3 px-4 font-semibold text-gray-300">股票名称</th>
+              <th class="text-left py-3 px-4 font-semibold text-gray-300">分类</th>
+              <th class="text-left py-3 px-4 font-semibold text-gray-300">项目</th>
+              <th class="text-left py-3 px-4 font-semibold text-gray-300">关键数据</th>
+              <th class="text-left py-3 px-4 font-semibold text-gray-300">信源</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">豆神教育</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-edu">教育</span></td>
+              <td class="py-3 px-4">AI教育生态矩阵</td>
+              <td class="py-3 px-4">7天GMV 1740万</td>
+              <td class="py-3 px-4">调研</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">科大讯飞</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">AI智慧教育</td>
+              <td class="py-3 px-4">营收72.29亿</td>
+              <td class="py-3 px-4">年报</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">视源股份</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-other">其他</span></td>
+              <td class="py-3 px-4">希沃教学大模型</td>
+              <td class="py-3 px-4">智慧教室中标率68%</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">全通教育</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-edu">教育</span></td>
+              <td class="py-3 px-4">教师评价系统</td>
+              <td class="py-3 px-4">接入多模型</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">学大教育</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-edu">教育</span></td>
+              <td class="py-3 px-4">星图AI模型</td>
+              <td class="py-3 px-4">获监管部门备案</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">中南传媒</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-media">文化传媒</span></td>
+              <td class="py-3 px-4">学法智能伴学</td>
+              <td class="py-3 px-4">贝壳网系列产品</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">皖新传媒</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-media">文化传媒</span></td>
+              <td class="py-3 px-4">皖新阅读大模型</td>
+              <td class="py-3 px-4">元小鳌机器人</td>
+              <td class="py-3 px-4">年报</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">竞业达</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">全栈AI解决方案</td>
+              <td class="py-3 px-4">付费转化率超50%</td>
+              <td class="py-3 px-4">公告/调研</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">方直科技</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">教育智能一体机</td>
+              <td class="py-3 px-4">基于昇腾与DeepSeek</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">云天励飞</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">噜咔博士AI拍学机</td>
+              <td class="py-3 px-4">教育硬件产品</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">华胜天成</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">九章工坊</td>
+              <td class="py-3 px-4">高校AGI教学平台</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">世纪天鸿</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-tech">科技</span></td>
+              <td class="py-3 px-4">笔神作文</td>
+              <td class="py-3 px-4">AI作文辅导</td>
+              <td class="py-3 px-4">调研</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">凤凰传媒</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-media">文化传媒</span></td>
+              <td class="py-3 px-4">智羚学伴</td>
+              <td class="py-3 px-4">全场景AI学习生态</td>
+              <td class="py-3 px-4">公告</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">天舟文化</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-media">文化传媒</span></td>
+              <td class="py-3 px-4">AI+教育解决方案</td>
+              <td class="py-3 px-4">与科大讯飞合作</td>
+              <td class="py-3 px-4">调研</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-gray-800/50 transition-colors">
+              <td class="py-3 px-4 font-medium">同辉信息</td>
+              <td class="py-3 px-4"><span class="stock-badge badge-bse">北交所</span></td>
+              <td class="py-3 px-4">虚拟仿真实训平台</td>
+              <td class="py-3 px-4">教育领域应用</td>
+              <td class="py-3 px-4">互动</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 未来发展路径 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-rocket text-purple-400 mr-3"></i>
+        未来发展路径
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-blue-400">近期催化剂（3-6个月）</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <div>
+                <strong class="text-gray-200">2025年3月</strong>
+                <p class="text-gray-400 text-sm">全国两会或推出AI教育专项补贴</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <div>
+                <strong class="text-gray-200">2025年4月</strong>
+                <p class="text-gray-400 text-sm">学而思/科大讯飞接入DeepSeek的新款学习机上市</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <div>
+                <strong class="text-gray-200">2025年6月</strong>
+                <p class="text-gray-400 text-sm">教育部AI教育示范区验收</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-400">长期发展路径</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <span class="text-purple-400 mr-2">•</span>
+              <div>
+                <strong class="text-gray-200">2025-2026年</strong>
+                <p class="text-gray-400 text-sm">硬件渗透率从3%→15%（学习机年销量从600万台→2000万台）</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <span class="text-purple-400 mr-2">•</span>
+              <div>
+                <strong class="text-gray-200">2027-2030年</strong>
+                <p class="text-gray-400 text-sm">To B智慧校园进入订阅制变现期（年ARPU值从300元→1500元）</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 风险提示 -->
+    <div class="card-gradient rounded-2xl p-6">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle text-red-400 mr-3"></i>
+        风险提示
+      </h2>
+      <div class="grid md:grid-cols-2 gap-4">
+        <div class="bg-red-900/20 rounded-lg p-4 border-l-4 border-red-500">
+          <h3 class="font-semibold text-red-400 mb-2">技术风险</h3>
+          <p class="text-gray-300 text-sm">大模型幻觉导致错误教学内容，豆神AI作文批改错误率12%</p>
+        </div>
+        <div class="bg-orange-900/20 rounded-lg p-4 border-l-4 border-orange-500">
+          <h3 class="font-semibold text-orange-400 mb-2">商业化风险</h3>
+          <p class="text-gray-300 text-sm">C端硬件换机周期延长至3年，2024年学习机销量增速放缓至19%</p>
+        </div>
+        <div class="bg-yellow-900/20 rounded-lg p-4 border-l-4 border-yellow-500">
+          <h3 class="font-semibold text-yellow-400 mb-2">政策风险</h3>
+          <p class="text-gray-300 text-sm">数据安全监管趋严，网信办2024年下架3款AI教育APP</p>
+        </div>
+        <div class="bg-purple-900/20 rounded-lg p-4 border-l-4 border-purple-500">
+          <h3 class="font-semibold text-purple-400 mb-2">信息矛盾</h3>
+          <p class="text-gray-300 text-sm">券商预测2025年市场规模900亿，但头部公司当前收入合计仅150亿</p>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: ["#3b82f6", "#8b5cf6", "#22c55e"]
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.2,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 0.5
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI无人机军工信息化.html

@@ -0,0 +1,594 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI无人机军工信息化 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet">
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+    }
+    .glass-effect {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(148, 163, 184, 0.2);
+    }
+    .timeline-dot {
+      position: relative;
+    }
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 12px;
+      height: 12px;
+      background: #3b82f6;
+      border-radius: 50%;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 18px;
+      bottom: -18px;
+      width: 1px;
+      background: #475569;
+    }
+    .gradient-text {
+      background: linear-gradient(135deg, #60a5fa 0%, #3b82f6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 30px rgba(0, 0, 0, 0.3);
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.875rem;
+      }
+    }
+  </style>
+</head>
+<body class="text-gray-100">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-7xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AI无人机军工信息化</h1>
+      <p class="text-xl text-gray-300">政策+技术+实战三重共振的赛道</p>
+    </div>
+
+    <!-- 概念事件部分 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">概念事件</h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">背景与催化事件</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2024年4月</strong>：中国人民解放军成立<strong class="text-blue-300">信息支援部队</strong>，统筹网络信息体系建设</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2024年9月</strong>：俄罗斯宣布2024年无人机需求<strong class="text-blue-300">10倍增长</strong>（从14万架增至140万架）</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2025年5月</strong>：美国防部发布《释放美国军用无人机优势》备忘录</span>
+            </li>
+            <li class="flex items-start">
+              <span class="text-blue-400 mr-2">•</span>
+              <span><strong class="text-blue-300">2025年6月</strong>：中国"九天"无人机首飞（翼展25米、载重6吨）</span>
+            </li>
+          </ul>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">时间轴</h3>
+          <div class="relative pl-6">
+            <div class="timeline-line"></div>
+            <div class="space-y-4">
+              <div class="timeline-dot pl-4">
+                <p class="font-semibold text-blue-300">2024年4月</p>
+                <p class="text-sm text-gray-400">中国信息支援部队成立</p>
+              </div>
+              <div class="timeline-dot pl-4">
+                <p class="font-semibold text-blue-300">2024年9月</p>
+                <p class="text-sm text-gray-400">俄罗斯无人机需求激增</p>
+              </div>
+              <div class="timeline-dot pl-4">
+                <p class="font-semibold text-blue-300">2025年2月</p>
+                <p class="text-sm text-gray-400">美国Palantir/Anduril订单爆发</p>
+              </div>
+              <div class="timeline-dot pl-4">
+                <p class="font-semibold text-blue-300">2025年5月</p>
+                <p class="text-sm text-gray-400">美国"消耗品无人机"战略</p>
+              </div>
+              <div class="timeline-dot pl-4">
+                <p class="font-semibold text-blue-300">2025年6月</p>
+                <p class="text-sm text-gray-400">中国"九天"无人机首飞</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">核心观点摘要</h2>
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="bg-gradient-to-br from-blue-900/50 to-blue-800/30 rounded-xl p-4">
+          <div class="text-blue-400 text-3xl mb-2">01</div>
+          <h3 class="font-semibold mb-2">阶段判断</h3>
+          <p class="text-sm text-gray-300">已从<strong class="text-blue-300">主题炒作</strong>进入<strong class="text-blue-300">订单兑现期</strong>（2025年Q2起军工电子订单环比拐点明确）</p>
+        </div>
+        <div class="bg-gradient-to-br from-green-900/50 to-green-800/30 rounded-xl p-4">
+          <div class="text-green-400 text-3xl mb-2">02</div>
+          <h3 class="font-semibold mb-2">核心驱动力</h3>
+          <p class="text-sm text-gray-300">政策（"十四五"收官+规划）、技术（AI集群算法+低成本制造）、实战需求（俄乌/印巴冲突验证）</p>
+        </div>
+        <div class="bg-gradient-to-br from-purple-900/50 to-purple-800/30 rounded-xl p-4">
+          <div class="text-purple-400 text-3xl mb-2">03</div>
+          <h3 class="font-semibold mb-2">未来潜力</h3>
+          <p class="text-sm text-gray-300">2025-2030年全球军用无人机市场<strong class="text-purple-300">CAGR 15%+</strong>，AI渗透率将从<strong class="text-purple-300"><30%提升至>60%</strong></p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">核心逻辑与市场认知分析</h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">核心驱动力</h3>
+          <div class="space-y-4">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold text-blue-300 mb-2">政策强制</h4>
+              <ul class="text-sm space-y-1 text-gray-300">
+                <li>• 中国"十四五"规划明确"无人智能作战力量"</li>
+                <li>• 2025年国防预算1.78万亿元（+7.2%）</li>
+                <li>• 美国拨款89亿美元用于CCA项目</li>
+              </ul>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold text-green-300 mb-2">技术突破</h4>
+              <ul class="text-sm space-y-1 text-gray-300">
+                <li>• AI集群算法：1000架无人机毫秒级协同</li>
+                <li>• 低成本制造：中国商用无人机占全球70-80%</li>
+              </ul>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold text-purple-300 mb-2">实战验证</h4>
+              <ul class="text-sm space-y-1 text-gray-300">
+                <li>• 印巴冲突中AI制导导弹击落阵风战机</li>
+                <li>• 俄乌战场验证无人机作战效能</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">市场热度与预期差</h3>
+          <div class="space-y-4">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold text-yellow-300 mb-2">市场热度</h4>
+              <ul class="text-sm space-y-1 text-gray-300">
+                <li>• 2025年3-6月相关研报超50篇</li>
+                <li>• 国防军工板块2025年3月涨幅7.4%</li>
+                <li>• 计算机（AI+军工）涨幅6.4%</li>
+              </ul>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold text-red-300 mb-2">预期差分析</h4>
+              <ul class="text-sm space-y-1 text-gray-300">
+                <li>• 上游元器件国产化率仅40%（存在存量替代空间）</li>
+                <li>• 中国无人机出口单价低于美国1/3</li>
+                <li>• 中东/非洲订单2025年翻倍</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">关键催化剂与未来发展路径</h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full w-8 h-8 flex items-center justify-center mr-3 flex-shrink-0">
+                <span class="text-white font-bold">1</span>
+              </div>
+              <div>
+                <h4 class="font-semibold text-blue-300">订单落地</h4>
+                <p class="text-sm text-gray-300">K无人机招标重启（200亿规模，2025年Q3启动）</p>
+                <p class="text-sm text-gray-300">二代卫星组网招标（2025年Q3启动）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-green-500 rounded-full w-8 h-8 flex items-center justify-center mr-3 flex-shrink-0">
+                <span class="text-white font-bold">2</span>
+              </div>
+              <div>
+                <h4 class="font-semibold text-green-300">政策催化</h4>
+                <p class="text-sm text-gray-300">"十五五"规划（2025年10月发布）将明确无人装备采购量</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-gray-300">长期路径（2025-2030）</h3>
+          <div class="space-y-3">
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-purple-300">2025-2026</p>
+              <p class="text-sm text-gray-300">低成本AI无人机量产（单价<5万美元），军贸订单爆发</p>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-purple-300">2027-2028</p>
+              <p class="text-sm text-gray-300">集群作战技术成熟（1000+无人机协同），美军CCA项目全面部署</p>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-purple-300">2029-2030</p>
+              <p class="text-sm text-gray-300">AI无人机成为主战装备，全球市场规模超500亿美元</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">产业链与核心公司</h2>
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-4 text-gray-300">产业链图谱</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-gradient-to-b from-blue-900/30 to-blue-800/20 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-300 mb-2">上游</h4>
+            <p class="text-sm text-gray-300">芯片（紫光国微FPGA、臻镭科技数模转换）、元器件（鸿远电子MLCC）、材料（光威复材碳纤维）</p>
+          </div>
+          <div class="bg-gradient-to-b from-green-900/30 to-green-800/20 rounded-lg p-4">
+            <h4 class="font-semibold text-green-300 mb-2">中游</h4>
+            <p class="text-sm text-gray-300">无人机整机（中无人机、航天彩虹）、通信系统（七一二数据链、上海瀚讯宽带）</p>
+          </div>
+          <div class="bg-gradient-to-b from-purple-900/30 to-purple-800/20 rounded-lg p-4">
+            <h4 class="font-semibold text-purple-300 mb-2">下游</h4>
+            <p class="text-sm text-gray-300">军贸（中航技）、民用应急（海格通信）</p>
+          </div>
+        </div>
+      </div>
+      <div>
+        <h3 class="text-lg font-semibold mb-4 text-gray-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="text-left py-2 px-3">公司</th>
+                <th class="text-left py-2 px-3">角色</th>
+                <th class="text-left py-2 px-3">竞争优势</th>
+                <th class="text-left py-2 px-3">风险</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800">
+                <td class="py-2 px-3 font-semibold text-blue-300">中无人机</td>
+                <td class="py-2 px-3">整机龙头</td>
+                <td class="py-2 px-3">翼龙系列全球市占率17%（2024年军贸订单环比+50%）</td>
+                <td class="py-2 px-3">军贸结算周期长（12-18个月）</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-2 px-3 font-semibold text-green-300">航天彩虹</td>
+                <td class="py-2 px-3">隐身无人机</td>
+                <td class="py-2 px-3">彩虹-7隐身技术领先，2025年国内列装预期（100架订单）</td>
+                <td class="py-2 px-3">国内定价低于军贸（毛利率-15%）</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-2 px-3 font-semibold text-purple-300">七一二</td>
+                <td class="py-2 px-3">数据链垄断</td>
+                <td class="py-2 px-3">军用通信市占率80%（K无人机招标核心受益）</td>
+                <td class="py-2 px-3">民品拓展不及预期</td>
+              </tr>
+              <tr>
+                <td class="py-2 px-3 font-semibold text-yellow-300">紫光国微</td>
+                <td class="py-2 px-3">FPGA国产化</td>
+                <td class="py-2 px-3">新型装备FPGA国产化率100%（老型号替代空间60亿）</td>
+                <td class="py-2 px-3">14nm以下制程受美国制裁</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-red-400">潜在风险与挑战</h2>
+      <div class="grid md:grid-cols-2 gap-4">
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <h3 class="font-semibold text-red-300 mb-2">技术风险</h3>
+          <p class="text-sm text-gray-300">AI集群算法在强电磁干扰下失效（美军2024年演习中30%无人机失控）</p>
+        </div>
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <h3 class="font-semibold text-red-300 mb-2">商业化风险</h3>
+          <p class="text-sm text-gray-300">低成本无人机毛利率<10%（Anduril Barracuda量产价5万美元/架）</p>
+        </div>
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <h3 class="font-semibold text-red-300 mb-2">政策风险</h3>
+          <p class="text-sm text-gray-300">美国对华芯片禁令升级（2025年5月限制14nm以下FPGA出口）</p>
+        </div>
+        <div class="bg-red-900/20 border border-red-800/50 rounded-lg p-4">
+          <h3 class="font-semibold text-red-300 mb-2">信息矛盾</h3>
+          <p class="text-sm text-gray-300">天风军工称"军工电子订单拐点"，但航天彩虹2024年存货12.85亿（交付延迟）</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="glass-effect rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-green-400">综合结论与投资启示</h2>
+      <div class="space-y-4">
+        <div class="bg-green-900/20 border border-green-800/50 rounded-lg p-4">
+          <h3 class="font-semibold text-green-300 mb-2">阶段判断</h3>
+          <p class="text-gray-300"><strong class="text-green-300">基本面驱动初期</strong>（订单拐点+政策催化），非纯主题炒作</p>
+        </div>
+        <div>
+          <h3 class="font-semibold text-green-300 mb-3">高价值细分</h3>
+          <div class="grid md:grid-cols-3 gap-3">
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-blue-300">上游芯片</p>
+              <p class="text-sm text-gray-300">紫光国微（FPGA国产化）、臻镭科技（数模转换芯片毛利率80%）</p>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-green-300">中游通信</p>
+              <p class="text-sm text-gray-300">七一二（数据链垄断，K无人机招标弹性）</p>
+            </div>
+            <div class="bg-slate-800/50 rounded-lg p-3">
+              <p class="font-semibold text-purple-300">下游整机</p>
+              <p class="text-sm text-gray-300">中无人机（军贸订单爆发，2025年业绩翻倍预期）</p>
+            </div>
+          </div>
+        </div>
+        <div class="bg-gradient-to-r from-blue-900/30 to-purple-900/30 rounded-lg p-4">
+          <h3 class="font-semibold text-yellow-300 mb-2">一句话总结</h3>
+          <p class="text-gray-300">AI无人机军工信息化是<strong class="text-yellow-300">政策+技术+实战</strong>三重共振的赛道，当前处于订单兑现临界点，<strong class="text-yellow-300">上游芯片替代</strong>和<strong class="text-yellow-300">中游通信垄断</strong>是最佳卡位方向。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据表格 -->
+    <div class="glass-effect rounded-2xl p-6 card-hover">
+      <h2 class="text-2xl font-bold mb-6 text-blue-400">关联股票数据</h2>
+      <div class="table-container">
+        <table class="w-full text-sm">
+          <thead>
+            <tr class="border-b border-gray-700">
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">股票名称</th>
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">行业</th>
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">项目</th>
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">分类</th>
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">产业链</th>
+              <th class="text-left py-3 px-3 font-semibold text-gray-300">理由</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">华如科技</td>
+              <td class="py-3 px-3">国防科技</td>
+              <td class="py-3 px-3">无人装备论证、无人AI训练与测试</td>
+              <td class="py-3 px-3">AI技术应用</td>
+              <td class="py-3 px-3">研发与测试</td>
+              <td class="py-3 px-3">公司业务涉及无人装备论证和运用，以及无人AI的训练、验证和测试</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">展鹏科技</td>
+              <td class="py-3 px-3">军事航空</td>
+              <td class="py-3 px-3">通用数字空战仿真系统</td>
+              <td class="py-3 px-3">仿真技术</td>
+              <td class="py-3 px-3">研发与生产</td>
+              <td class="py-3 px-3">核心产品为面向航空兵作战训练的通用数字空战仿真系统</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">能科股份</td>
+              <td class="py-3 px-3">航空航天</td>
+              <td class="py-3 px-3">数字化解决方案</td>
+              <td class="py-3 px-3">仿真测试</td>
+              <td class="py-3 px-3">研发与服务</td>
+              <td class="py-3 px-3">为航空、航天、兵器等领域客户提供研发平台建设、仿真测试服务</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">联创光电</td>
+              <td class="py-3 px-3">激光技术</td>
+              <td class="py-3 px-3">激光反无人机整机</td>
+              <td class="py-3 px-3">激光防御</td>
+              <td class="py-3 px-3">生产制造</td>
+              <td class="py-3 px-3">激光板块产品包括光刃系列激光反无人机整机</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">七一二</td>
+              <td class="py-3 px-3">无线通信</td>
+              <td class="py-3 px-3">军民专用无线通信产品</td>
+              <td class="py-3 px-3">通信设备</td>
+              <td class="py-3 px-3">研发与销售</td>
+              <td class="py-3 px-3">产品覆盖歼击机、轰炸机、无人机等多种平台</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">立航科技</td>
+              <td class="py-3 px-3">无人机测试</td>
+              <td class="py-3 px-3">无人机半物理模拟测试环境</td>
+              <td class="py-3 px-3">测试软件</td>
+              <td class="py-3 px-3">测试与验证</td>
+              <td class="py-3 px-3">中标成飞研究所无人机半物理模拟测试环境项目</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">声讯股份</td>
+              <td class="py-3 px-3">安防</td>
+              <td class="py-3 px-3">无人机探测与反制系统</td>
+              <td class="py-3 px-3">探测技术</td>
+              <td class="py-3 px-3">研发与集成</td>
+              <td class="py-3 px-3">推出无人机探测与反制系统，集态势感知、信息呈现、决策辅助于一体</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">纵横通信</td>
+              <td class="py-3 px-3">无人机控制</td>
+              <td class="py-3 px-3">INSKY飞控系统</td>
+              <td class="py-3 px-3">智能控制</td>
+              <td class="py-3 px-3">技术研发</td>
+              <td class="py-3 px-3">自主研发的INSKY飞控系统支持无人机集群飞行</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">天和防务</td>
+              <td class="py-3 px-3">国防科技</td>
+              <td class="py-3 px-3">低空近防系统</td>
+              <td class="py-3 px-3">反无人机系统</td>
+              <td class="py-3 px-3">生产制造</td>
+              <td class="py-3 px-3">军工装备业务包括低空近防系统（反无人机及蜂群）</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">王子新材</td>
+              <td class="py-3 px-3">电子对抗</td>
+              <td class="py-3 px-3">军用射频功放、抗干扰通信</td>
+              <td class="py-3 px-3">通信设备</td>
+              <td class="py-3 px-3">研发与生产</td>
+              <td class="py-3 px-3">子公司中电华瑞开展军用射频功放、抗干扰通信等产品研发</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">星网宇达</td>
+              <td class="py-3 px-3">无人机防御</td>
+              <td class="py-3 px-3">高集成一体化反无人机产品</td>
+              <td class="py-3 px-3">集成技术</td>
+              <td class="py-3 px-3">技术研发</td>
+              <td class="py-3 px-3">完成高集成一体化反无人机产品技术迭代</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">道通科技</td>
+              <td class="py-3 px-3">电子对抗</td>
+              <td class="py-3 px-3">电子对抗解决方案</td>
+              <td class="py-3 px-3">技术创新</td>
+              <td class="py-3 px-3">研发与服务</td>
+              <td class="py-3 px-3">子公司深圳塞防提供电子对抗领域系统化解决方案</td>
+            </tr>
+            <tr class="border-b border-gray-800 hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">佳缘科技</td>
+              <td class="py-3 px-3">通信技术</td>
+              <td class="py-3 px-3">无人机通信传输协议</td>
+              <td class="py-3 px-3">通信安全</td>
+              <td class="py-3 px-3">技术研发</td>
+              <td class="py-3 px-3">研发适用于无人机的WiFi、LTE等传输协议</td>
+            </tr>
+            <tr class="hover:bg-slate-800/30">
+              <td class="py-3 px-3 font-semibold text-blue-300">六九一二</td>
+              <td class="py-3 px-3">无人机制造</td>
+              <td class="py-3 px-3">无人机通信干扰模拟器</td>
+              <td class="py-3 px-3">测试设备</td>
+              <td class="py-3 px-3">研发与销售</td>
+              <td class="py-3 px-3">销售无人机及轻量化数据链信号源、多信道通信干扰模拟器</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI服务器钽电容.html

@@ -0,0 +1,545 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AI服务器钽电容 - 概念深度解析</title>
+    <script src="https://cdn.tailwindcss.com"></script>
+    <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+    <style>
+        @import url('https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap');
+        
+        * {
+            font-family: 'Inter', sans-serif;
+        }
+        
+        .gradient-text {
+            background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+            -webkit-background-clip: text;
+            -webkit-text-fill-color: transparent;
+            background-clip: text;
+        }
+        
+        .hero-gradient {
+            background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+        }
+        
+        .card-hover {
+            transition: all 0.3s ease;
+        }
+        
+        .card-hover:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 20px 40px rgba(0,0,0,0.1);
+        }
+        
+        .timeline-line {
+            background: linear-gradient(180deg, #667eea 0%, #764ba2 100%);
+        }
+        
+        .pulse-animation {
+            animation: pulse 2s infinite;
+        }
+        
+        @keyframes pulse {
+            0% { transform: scale(1); }
+            50% { transform: scale(1.05); }
+            100% { transform: scale(1); }
+        }
+        
+        .table-scroll {
+            overflow-x: auto;
+        }
+        
+        .table-scroll::-webkit-scrollbar {
+            height: 8px;
+        }
+        
+        .table-scroll::-webkit-scrollbar-track {
+            background: #f1f1f1;
+            border-radius: 10px;
+        }
+        
+        .table-scroll::-webkit-scrollbar-thumb {
+            background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+            border-radius: 10px;
+        }
+        
+        .highlight-cell {
+            background: linear-gradient(135deg, rgba(102, 126, 234, 0.1) 0%, rgba(118, 75, 162, 0.1) 100%);
+        }
+        
+        .floating {
+            animation: floating 3s ease-in-out infinite;
+        }
+        
+        @keyframes floating {
+            0% { transform: translateY(0px); }
+            50% { transform: translateY(-10px); }
+            100% { transform: translateY(0px); }
+        }
+    </style>
+</head>
+<body class="bg-gray-50">
+    <!-- Hero Section -->
+    <div class="hero-gradient text-white py-20 px-4">
+        <div class="max-w-7xl mx-auto">
+            <div class="text-center">
+                <h1 class="text-5xl md:text-6xl font-bold mb-4 floating">
+                    AI服务器钽电容
+                </h1>
+                <p class="text-xl md:text-2xl mb-8 opacity-90">算力革命背后的隐形冠军</p>
+                <div class="flex flex-wrap justify-center gap-4 text-sm">
+                    <div class="bg-white/20 backdrop-blur-sm rounded-full px-6 py-2">
+                        <i class="fas fa-chart-line mr-2"></i>景气上行周期
+                    </div>
+                    <div class="bg-white/20 backdrop-blur-sm rounded-full px-6 py-2">
+                        <i class="fas fa-microchip mr-2"></i>国产替代加速
+                    </div>
+                    <div class="bg-white/20 backdrop-blur-sm rounded-full px-6 py-2">
+                        <i class="fas fa-rocket mr-2"></i>量价齐升
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Key Stats -->
+    <div class="py-12 px-4 bg-white shadow-lg">
+        <div class="max-w-7xl mx-auto">
+            <div class="grid grid-cols-2 md:grid-cols-4 gap-6">
+                <div class="text-center card-hover p-6 rounded-lg">
+                    <div class="text-3xl md:text-4xl font-bold gradient-text">20-30%</div>
+                    <div class="text-gray-600 mt-2">KEMET涨幅</div>
+                </div>
+                <div class="text-center card-hover p-6 rounded-lg">
+                    <div class="text-3xl md:text-4xl font-bold gradient-text">2.1万</div>
+                    <div class="text-gray-600 mt-2">单柜用量(颗)</div>
+                </div>
+                <div class="text-center card-hover p-6 rounded-lg">
+                    <div class="text-3xl md:text-4xl font-bold gradient-text">46%</div>
+                    <div class="text-gray-600 mt-2">KEMET市占率</div>
+                </div>
+                <div class="text-center card-hover p-6 rounded-lg">
+                    <div class="text-3xl md:text-4xl font-bold gradient-text">38周</div>
+                    <div class="text-gray-600 mt-2">最长交期</div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Timeline Section -->
+    <div class="py-16 px-4">
+        <div class="max-w-7xl mx-auto">
+            <h2 class="text-3xl font-bold text-center mb-12">概念发展时间线</h2>
+            <div class="relative">
+                <div class="timeline-line absolute left-1/2 transform -translate-x-1/2 h-full w-1"></div>
+                
+                <div class="space-y-12">
+                    <div class="flex items-center">
+                        <div class="w-full md:w-1/2 pr-8 text-right">
+                            <div class="bg-white p-6 rounded-lg shadow-lg card-hover">
+                                <div class="text-sm text-gray-500">2024年及以前</div>
+                                <div class="text-lg font-semibold mt-2">技术布局期</div>
+                                <div class="text-gray-600 mt-2">钽电容主要应用于军工、高端消费电子。顺络电子等厂商自2009年起已开始技术布局。</div>
+                            </div>
+                        </div>
+                        <div class="absolute left-1/2 transform -translate-x-1/2 w-4 h-4 bg-purple-600 rounded-full"></div>
+                        <div class="w-full md:w-1/2 pl-8"></div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="w-full md:w-1/2 pr-8"></div>
+                        <div class="absolute left-1/2 transform -translate-x-1/2 w-4 h-4 bg-purple-600 rounded-full"></div>
+                        <div class="w-full md:w-1/2 pl-8">
+                            <div class="bg-white p-6 rounded-lg shadow-lg card-hover">
+                                <div class="text-sm text-gray-500">2025年10月22日</div>
+                                <div class="text-lg font-semibold mt-2">引爆点：KEMET大幅涨价</div>
+                                <div class="text-gray-600 mt-2">国巨旗下KEMET发布涨价函，上调聚合物钽电容价格20%-30%，为年内第二次涨价。</div>
+                            </div>
+                        </div>
+                    </div>
+                    
+                    <div class="flex items-center">
+                        <div class="w-full md:w-1/2 pr-8 text-right">
+                            <div class="bg-white p-6 rounded-lg shadow-lg card-hover">
+                                <div class="text-sm text-gray-500">未来预期</div>
+                                <div class="text-lg font-semibold mt-2">景气周期开启</div>
+                                <div class="text-gray-600 mt-2">产业链涨价传导，国产替代加速，市场规模有望突破千亿。</div>
+                            </div>
+                        </div>
+                        <div class="absolute left-1/2 transform -translate-x-1/2 w-4 h-4 bg-purple-600 rounded-full pulse-animation"></div>
+                        <div class="w-full md:w-1/2 pl-8"></div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Core Logic Section -->
+    <div class="py-16 px-4 bg-gradient-to-br from-purple-50 to-indigo-50">
+        <div class="max-w-7xl mx-auto">
+            <h2 class="text-3xl font-bold text-center mb-12">核心逻辑与市场分析</h2>
+            
+            <div class="grid md:grid-cols-3 gap-8">
+                <div class="bg-white rounded-xl shadow-xl p-8 card-hover">
+                    <div class="text-4xl mb-4 text-purple-600">
+                        <i class="fas fa-bolt"></i>
+                    </div>
+                    <h3 class="text-xl font-bold mb-4">技术刚需</h3>
+                    <p class="text-gray-600">AI算力指数级增长要求供电系统极致稳定，钽电容凭借"单位体积电容值最高、ESR最低"的特性成为最优解。</p>
+                </div>
+                
+                <div class="bg-white rounded-xl shadow-xl p-8 card-hover">
+                    <div class="text-4xl mb-4 text-indigo-600">
+                        <i class="fas fa-chart-area"></i>
+                    </div>
+                    <h3 class="text-xl font-bold mb-4">需求爆发</h3>
+                    <p class="text-gray-600">单台AI服务器用量远超传统，NVL72机柜约需2.1万颗，仅英伟达26年就能带来5亿美元增量。</p>
+                </div>
+                
+                <div class="bg-white rounded-xl shadow-xl p-8 card-hover">
+                    <div class="text-4xl mb-4 text-pink-600">
+                        <i class="fas fa-cubes"></i>
+                    </div>
+                    <h3 class="text-xl font-bold mb-4">供给瓶颈</h3>
+                    <p class="text-gray-600">CR4占全球80%+份额，交期延长至38周+，上游钽粉仅450-500吨，扩产周期长。</p>
+                </div>
+            </div>
+            
+            <!-- Market Sentiment -->
+            <div class="mt-12 bg-white rounded-xl shadow-xl p-8">
+                <h3 class="text-2xl font-bold mb-6">市场情绪与预期差</h3>
+                <div class="grid md:grid-cols-2 gap-8">
+                    <div>
+                        <h4 class="font-semibold text-lg mb-4 text-green-600">当前热度</h4>
+                        <ul class="space-y-2 text-gray-600">
+                            <li><i class="fas fa-check-circle text-green-500 mr-2"></i>产业数据支撑（涨价、交期）</li>
+                            <li><i class="fas fa-check-circle text-green-500 mr-2"></i>研究机构持续发声</li>
+                            <li><i class="fas fa-check-circle text-green-500 mr-2"></i>产业链公司前景乐观</li>
+                        </ul>
+                    </div>
+                    <div>
+                        <h4 class="font-semibold text-lg mb-4 text-orange-600">关键预期差</h4>
+                        <ul class="space-y-2 text-gray-600">
+                            <li><i class="fas fa-exclamation-circle text-orange-500 mr-2"></i>市场认知滞后，关注度不足</li>
+                            <li><i class="fas fa-exclamation-circle text-orange-500 mr-2"></i>国产替代10倍成长空间</li>
+                            <li><i class="fas fa-exclamation-circle text-orange-500 mr-2"></i>市场空间预期存在上修可能</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Industry Chain -->
+    <div class="py-16 px-4">
+        <div class="max-w-7xl mx-auto">
+            <h2 class="text-3xl font-bold text-center mb-12">产业链图谱</h2>
+            
+            <div class="bg-white rounded-xl shadow-xl p-8">
+                <div class="space-y-8">
+                    <!-- Upstream -->
+                    <div class="flex items-center">
+                        <div class="w-32 text-center">
+                            <div class="bg-purple-100 text-purple-700 rounded-lg p-4">
+                                <i class="fas fa-mountain text-2xl"></i>
+                                <div class="font-semibold mt-2">上游</div>
+                            </div>
+                        </div>
+                        <div class="flex-1 mx-4">
+                            <div class="bg-gray-100 rounded-lg p-4">
+                                <div class="font-semibold mb-2">原材料：钽矿开采</div>
+                                <div class="text-sm text-gray-600">关键瓶颈：全球80%+产量集中在非洲、巴西，多为伴生矿</div>
+                            </div>
+                        </div>
+                        <div class="flex-1 mx-4">
+                            <div class="bg-gray-100 rounded-lg p-4">
+                                <div class="font-semibold mb-2">钽粉/钽丝制造</div>
+                                <div class="text-sm text-gray-600">全球市场：450-500吨/年，扩产困难</div>
+                            </div>
+                        </div>
+                    </div>
+                    
+                    <div class="flex justify-center">
+                        <i class="fas fa-arrow-down text-3xl text-gray-400"></i>
+                    </div>
+                    
+                    <!-- Midstream -->
+                    <div class="flex items-center">
+                        <div class="w-32 text-center">
+                            <div class="bg-indigo-100 text-indigo-700 rounded-lg p-4">
+                                <i class="fas fa-industry text-2xl"></i>
+                                <div class="font-semibold mt-2">中游</div>
+                            </div>
+                        </div>
+                        <div class="flex-1 mx-4">
+                            <div class="bg-gray-100 rounded-lg p-4">
+                                <div class="font-semibold mb-2">钽电容设计制造</div>
+                                <div class="text-sm text-gray-600">市场格局：CR4占80%+（KEMET、AVX、Vishay、松下）</div>
+                            </div>
+                        </div>
+                    </div>
+                    
+                    <div class="flex justify-center">
+                        <i class="fas fa-arrow-down text-3xl text-gray-400"></i>
+                    </div>
+                    
+                    <!-- Downstream -->
+                    <div class="flex items-center">
+                        <div class="w-32 text-center">
+                            <div class="bg-pink-100 text-pink-700 rounded-lg p-4">
+                                <i class="fas fa-server text-2xl"></i>
+                                <div class="font-semibold mt-2">下游</div>
+                            </div>
+                        </div>
+                        <div class="flex-1 mx-4">
+                            <div class="bg-gray-100 rounded-lg p-4">
+                                <div class="font-semibold mb-2">AI服务器/数据中心</div>
+                                <div class="text-sm text-gray-600">核心应用：GPU/CPU供电系统、电源模块</div>
+                            </div>
+                        </div>
+                        <div class="flex-1 mx-4">
+                            <div class="bg-gray-100 rounded-lg p-4">
+                                <div class="font-semibold mb-2">互联网巨头/云服务商</div>
+                                <div class="text-sm text-gray-600">主要客户：字节、阿里、腾讯、AWS、Google等</div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Stock Data Table -->
+    <div class="py-16 px-4 bg-gradient-to-br from-gray-50 to-gray-100">
+        <div class="max-w-7xl mx-auto">
+            <h2 class="text-3xl font-bold text-center mb-12">核心公司股票数据</h2>
+            
+            <div class="bg-white rounded-xl shadow-xl overflow-hidden">
+                <div class="table-scroll">
+                    <table class="w-full">
+                        <thead class="bg-gradient-to-r from-purple-600 to-indigo-600 text-white">
+                            <tr>
+                                <th class="px-6 py-4 text-left">股票名称</th>
+                                <th class="px-6 py-4 text-left">分类</th>
+                                <th class="px-6 py-4 text-left">业务相关</th>
+                                <th class="px-6 py-4 text-left">信源</th>
+                                <th class="px-6 py-4 text-left">投资逻辑</th>
+                            </tr>
+                        </thead>
+                        <tbody>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold highlight-cell">东方钽业</td>
+                                <td class="px-6 py-4">原料</td>
+                                <td class="px-6 py-4 text-sm">电容器级钽粉国内市占率50%，全球20%；钽丝全球市占率50%+</td>
+                                <td class="px-6 py-4">公告</td>
+                                <td class="px-6 py-4 text-sm text-purple-600">产业链瓶颈环节，直接受益涨价</td>
+                            </tr>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold highlight-cell">顺络电子</td>
+                                <td class="px-6 py-4">产品</td>
+                                <td class="px-6 py-4 text-sm">为全球顶级客户开发新型钽电容，已为客户配套供应</td>
+                                <td class="px-6 py-4">调研</td>
+                                <td class="px-6 py-4 text-sm text-purple-600">国产替代先锋，10倍成长空间</td>
+                            </tr>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold">宏达电子</td>
+                                <td class="px-6 py-4">产品</td>
+                                <td class="px-6 py-4 text-sm">国内高可靠钽电容器生产领域龙头企业</td>
+                                <td class="px-6 py-4">半年报</td>
+                                <td class="px-6 py-4 text-sm">军工技术转化，高可靠领域优势</td>
+                            </tr>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold">火炬电子</td>
+                                <td class="px-6 py-4">产品</td>
+                                <td class="px-6 py-4 text-sm">公司成熟产品包括钽电容器，工业级已进入AF7供应链</td>
+                                <td class="px-6 py-4">半年报</td>
+                                <td class="px-6 py-4 text-sm">产品矩阵丰富，多领域布局</td>
+                            </tr>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold">振华科技</td>
+                                <td class="px-6 py-4">产品</td>
+                                <td class="px-6 py-4 text-sm">民用钽电容器在国产服务器中开始供货；片式钽电解电容产能4.8亿只/年</td>
+                                <td class="px-6 py-4">调研/公告</td>
+                                <td class="px-6 py-4 text-sm">产能规模优势，国产服务器突破</td>
+                            </tr>
+                            <tr class="border-b hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold">北方华创</td>
+                                <td class="px-6 py-4">产品</td>
+                                <td class="px-6 py-4 text-sm">完成抗振动高能钽电容技术攻关和高分子钽电容产品研发</td>
+                                <td class="px-6 py-4">半年报</td>
+                                <td class="px-6 py-4 text-sm">技术突破，高端产品布局</td>
+                            </tr>
+                            <tr class="hover:bg-gray-50 transition-colors">
+                                <td class="px-6 py-4 font-semibold">杰普特</td>
+                                <td class="px-6 py-4">设备</td>
+                                <td class="px-6 py-4 text-sm">钽电容双工位智能焊接设备研制成功</td>
+                                <td class="px-6 py-4">半年报</td>
+                                <td class="px-6 py-4 text-sm">设备供应商，受益于产能扩张</td>
+                            </tr>
+                        </tbody>
+                    </table>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Investment Insights -->
+    <div class="py-16 px-4 bg-gradient-to-br from-indigo-50 to-purple-50">
+        <div class="max-w-7xl mx-auto">
+            <h2 class="text-3xl font-bold text-center mb-12">投资启示与风险提示</h2>
+            
+            <div class="grid md:grid-cols-2 gap-8">
+                <div class="bg-white rounded-xl shadow-xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 text-green-600">
+                        <i class="fas fa-lightbulb mr-2"></i>投资启示
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-green-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-green-600 font-bold">1</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">上游最优</h4>
+                                <p class="text-gray-600 text-sm mt-1">东方钽业作为产业链瓶颈，受益最直接，攻守兼备</p>
+                            </div>
+                        </div>
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-green-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-green-600 font-bold">2</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">国产替代加速</h4>
+                                <p class="text-gray-600 text-sm mt-1">顺络电子等厂商份额从5%向30%进发，10倍成长空间</p>
+                            </div>
+                        </div>
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-green-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-green-600 font-bold">3</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">景气周期持续</h4>
+                                <p class="text-gray-600 text-sm mt-1">供需矛盾短期难解，涨价有望持续传导</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                
+                <div class="bg-white rounded-xl shadow-xl p-8">
+                    <h3 class="text-2xl font-bold mb-6 text-red-600">
+                        <i class="fas fa-exclamation-triangle mr-2"></i>风险提示
+                    </h3>
+                    <div class="space-y-4">
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-red-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-red-600 font-bold">1</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">需求波动风险</h4>
+                                <p class="text-gray-600 text-sm mt-1">AI服务器出货量不及预期，高盛预测存在分歧</p>
+                            </div>
+                        </div>
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-red-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-red-600 font-bold">2</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">技术替代风险</h4>
+                                <p class="text-gray-600 text-sm mt-1">高端MLCC等技术进步可能部分替代钽电容</p>
+                            </div>
+                        </div>
+                        <div class="flex items-start">
+                            <div class="w-8 h-8 bg-red-100 rounded-full flex items-center justify-center flex-shrink-0 mt-1">
+                                <span class="text-red-600 font-bold">3</span>
+                            </div>
+                            <div class="ml-4">
+                                <h4 class="font-semibold">竞争格局变化</h4>
+                                <p class="text-gray-600 text-sm mt-1">海外巨头大规模扩产可能缓解供给紧张</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+            
+            <!-- Tracking Metrics -->
+            <div class="mt-12 bg-white rounded-xl shadow-xl p-8">
+                <h3 class="text-2xl font-bold mb-6">关键跟踪指标</h3>
+                <div class="grid md:grid-cols-4 gap-4">
+                    <div class="bg-gray-50 rounded-lg p-4">
+                        <div class="font-semibold text-purple-600">行业指标</div>
+                        <ul class="text-sm text-gray-600 mt-2 space-y-1">
+                            <li>• KEMET/AVX报价</li>
+                            <li>• 产品交货周期</li>
+                        </ul>
+                    </div>
+                    <div class="bg-gray-50 rounded-lg p-4">
+                        <div class="font-semibold text-indigo-600">需求端</div>
+                        <ul class="text-sm text-gray-600 mt-2 space-y-1">
+                            <li>• AI服务器出货量</li>
+                            <li>• GB300机柜数据</li>
+                        </ul>
+                    </div>
+                    <div class="bg-gray-50 rounded-lg p-4">
+                        <div class="font-semibold text-pink-600">东方钽业</div>
+                        <ul class="text-sm text-gray-600 mt-2 space-y-1">
+                            <li>• 钽粉/钽丝销量</li>
+                            <li>• 产品均价及毛利率</li>
+                        </ul>
+                    </div>
+                    <div class="bg-gray-50 rounded-lg p-4">
+                        <div class="font-semibold text-green-600">顺络电子</div>
+                        <ul class="text-sm text-gray-600 mt-2 space-y-1">
+                            <li>• 数据中心收入增速</li>
+                            <li>• 客户认证进展</li>
+                        </ul>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Footer -->
+    <footer class="bg-gray-900 text-white py-12 px-4">
+        <div class="max-w-7xl mx-auto text-center">
+            <p class="text-gray-400">© 2025 AI服务器钽电容概念深度解析</p>
+            <p class="text-gray-500 text-sm mt-2">数据来源：公开新闻、路演纪要、研究报告</p>
+        </div>
+    </footer>
+
+    <script>
+        // Add smooth scrolling
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                document.querySelector(this.getAttribute('href')).scrollIntoView({
+                    behavior: 'smooth'
+                });
+            });
+        });
+
+        // Add animation on scroll
+        const observerOptions = {
+            threshold: 0.1,
+            rootMargin: '0px 0px -100px 0px'
+        };
+
+        const observer = new IntersectionObserver((entries) => {
+            entries.forEach(entry => {
+                if (entry.isIntersecting) {
+                    entry.target.style.opacity = '1';
+                    entry.target.style.transform = 'translateY(0)';
+                }
+            });
+        }, observerOptions);
+
+        document.querySelectorAll('.card-hover').forEach(el => {
+            el.style.opacity = '0';
+            el.style.transform = 'translateY(20px)';
+            el.style.transition = 'opacity 0.6s ease, transform 0.6s ease';
+            observer.observe(el);
+        });
+    </script>
+</body>
+</html>

public/htmls/AI游戏.html

@@ -0,0 +1,726 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI游戏概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+    }
+    
+    .content-wrapper {
+      position: relative;
+      z-index: 10;
+    }
+    
+    .glass-card {
+      background: rgba(255, 255, 255, 0.05);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.37);
+    }
+    
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background-color: #3b82f6;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 18px;
+      bottom: -18px;
+      width: 1px;
+      background-color: rgba(59, 130, 246, 0.3);
+    }
+    
+    .table-responsive {
+      overflow-x: auto;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.1) 0%, rgba(139, 92, 246, 0.1) 100%);
+      border-left: 4px solid #3b82f6;
+    }
+    
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: 1;
+    }
+    
+    @media (max-width: 768px) {
+      .glass-card {
+        margin: 0 1rem;
+      }
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js"></div>
+  
+  <div class="content-wrapper py-8 px-4">
+    <!-- 标题部分 -->
+    <div class="max-w-6xl mx-auto mb-10">
+      <div class="text-center mb-8">
+        <h1 class="text-4xl md:text-5xl font-bold text-white mb-4">AI游戏概念分析报告</h1>
+        <p class="text-xl text-blue-300">从降本增效到原生玩法创新的技术革命</p>
+      </div>
+      
+      <!-- 核心观点摘要 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-4 flex items-center">
+          <i class="fas fa-lightbulb text-yellow-400 mr-3"></i>
+          核心观点摘要
+        </h2>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="highlight-box p-4 rounded-lg">
+            <h3 class="text-lg font-semibold text-blue-300 mb-2">阶段判断</h3>
+            <p class="text-gray-200">AI游戏正从"降本增效工具"（2023-2024）向"原生玩法创新"（2025-2027）过渡，<span class="text-yellow-400 font-bold">技术拐点已至</span>。</p>
+          </div>
+          <div class="highlight-box p-4 rounded-lg">
+            <h3 class="text-lg font-semibold text-blue-300 mb-2">核心驱动力</h3>
+            <p class="text-gray-200"><span class="text-green-400 font-bold">成本骤降</span>（DeepSeek降低90%算力成本）+<span class="text-green-400 font-bold">政策松绑</span>（版号常态化）+<span class="text-green-400 font-bold">巨头验证</span>（腾讯/网易/米哈游产品落地）。</p>
+          </div>
+          <div class="highlight-box p-4 rounded-lg">
+            <h3 class="text-lg font-semibold text-blue-300 mb-2">未来潜力</h3>
+            <p class="text-gray-200">AI原生游戏或重构行业逻辑，<span class="text-purple-400 font-bold">2027年市场规模有望超300亿元</span>（华泰预测）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 概念事件 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-history text-blue-400 mr-3"></i>
+          概念事件
+        </h2>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">时间轴梳理</h3>
+        <div class="space-y-6 pl-6 relative">
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="timeline-line"></div>
+            <div class="ml-6">
+              <h4 class="text-lg font-medium text-white mb-1">2023年3月</h4>
+              <p class="text-gray-300">GDC 2023首次将AI列为核心议题，微软/英伟达展示AI降本工具（如DirectSR、RTX Remix），A股游戏板块启动70%行情。</p>
+            </div>
+          </div>
+          
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="timeline-line"></div>
+            <div class="ml-6">
+              <h4 class="text-lg font-medium text-white mb-1">2024年2月</h4>
+              <p class="text-gray-300">ChatGPT-4引爆生成式AI，腾讯发布GiiNEX引擎，三七互娱/网易等验证AI美术降本<span class="text-yellow-400 font-bold">20%-40%</span>。</p>
+            </div>
+          </div>
+          
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="timeline-line"></div>
+            <div class="ml-6">
+              <h4 class="text-lg font-medium text-white mb-1">2024年8月</h4>
+              <p class="text-gray-300">谷歌GameNGen发布首个神经驱动游戏引擎，实时生成《DOOM》画面；米哈游蔡浩宇成立Anuttacon，启动《Project Star》AI原生游戏。</p>
+            </div>
+          </div>
+          
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="timeline-line"></div>
+            <div class="ml-6">
+              <h4 class="text-lg font-medium text-white mb-1">2025年2月</h4>
+              <p class="text-gray-300">xAI宣布成立游戏工作室，Grok 3模型发布；巨人网络《太空杀》上线DeepSeek驱动的"内鬼挑战"玩法；恺英网络"形意"大模型完成备案。</p>
+            </div>
+          </div>
+          
+          <div class="relative">
+            <div class="timeline-dot"></div>
+            <div class="ml-6">
+              <h4 class="text-lg font-medium text-white mb-1">2025年3月</h4>
+              <p class="text-gray-300">GDC 2025聚焦AI原生游戏，<span class="text-yellow-400 font-bold">《Whispers From The Star》</span>开启封闭测试，实时语音交互成为核心玩法。</p>
+            </div>
+          </div>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mt-8 mb-4">催化事件</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-gradient-to-br from-blue-900/30 to-purple-900/30 p-4 rounded-lg border border-blue-500/20">
+            <h4 class="text-lg font-medium text-blue-300 mb-2">技术突破</h4>
+            <p class="text-gray-300">DeepSeek模型调用成本降至<span class="text-green-400 font-bold">1/20</span>（路演数据），AI实时生成3D场景商业化临界点临近。</p>
+          </div>
+          <div class="bg-gradient-to-br from-blue-900/30 to-purple-900/30 p-4 rounded-lg border border-blue-500/20">
+            <h4 class="text-lg font-medium text-blue-300 mb-2">政策利好</h4>
+            <p class="text-gray-300">2024年国产版号发放<span class="text-green-400 font-bold">1416款</span>（同比+31.7%），杭州/上海简化AI游戏测试流程。</p>
+          </div>
+          <div class="bg-gradient-to-br from-blue-900/30 to-purple-900/30 p-4 rounded-lg border border-blue-500/20">
+            <h4 class="text-lg font-medium text-blue-300 mb-2">巨头入局</h4>
+            <p class="text-gray-300">马斯克xAI、米哈游Anuttacon、腾讯GiiNEX三线推进AI原生游戏。</p>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 核心逻辑与市场认知分析 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-brain text-purple-400 mr-3"></i>
+          核心逻辑与市场认知分析
+        </h2>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">核心驱动力</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-6">
+          <div>
+            <h4 class="text-lg font-medium text-purple-300 mb-3">技术端</h4>
+            <ul class="space-y-3">
+              <li class="flex items-start">
+                <i class="fas fa-chevron-right text-blue-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">成本革命：</span>
+                  <span class="text-gray-300">DeepSeek使AI推理成本从<span class="text-yellow-400 font-bold">1元/局降至0.05元/局</span>（路演案例），推动AI NPC大规模商用。</span>
+                </div>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-chevron-right text-blue-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">能力突破：</span>
+                  <span class="text-gray-300">谷歌GameNGen实现<span class="text-yellow-400 font-bold">20fps实时生成3D画面</span>，NeRF+Diffusion模型将3D建模效率提升<span class="text-yellow-400 font-bold">50倍</span>（GDC 2024数据）。</span>
+                </div>
+              </li>
+            </ul>
+          </div>
+          <div>
+            <h4 class="text-lg font-medium text-purple-300 mb-3">需求端</h4>
+            <ul class="space-y-3">
+              <li class="flex items-start">
+                <i class="fas fa-chevron-right text-blue-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">付费验证：</span>
+                  <span class="text-gray-300">AI陪伴类NPC在《逆水寒》中使<span class="text-yellow-400 font-bold">ARPPU提升15%</span>（网易路演），验证用户付费意愿。</span>
+                </div>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-chevron-right text-blue-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">品类缺口：</span>
+                  <span class="text-gray-300">D&D、乙女向等<span class="text-yellow-400 font-bold">低商业化品类</span>通过AI交互实现价值重估（方正证券观点）。</span>
+                </div>
+              </li>
+            </ul>
+          </div>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">市场热度与情绪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4 mb-6">
+          <div class="bg-gradient-to-r from-blue-900/20 to-indigo-900/20 p-4 rounded-lg">
+            <h4 class="text-lg font-medium text-blue-300 mb-2">研报密度</h4>
+            <p class="text-gray-300">2024Q4以来AI游戏相关研报<span class="text-yellow-400 font-bold">月均15篇</span>（vs 2023全年仅8篇），情绪从"概念"转向"订单验证"。</p>
+          </div>
+          <div class="bg-gradient-to-r from-blue-900/20 to-indigo-900/20 p-4 rounded-lg">
+            <h4 class="text-lg font-medium text-blue-300 mb-2">资金动向</h4>
+            <p class="text-gray-300">游戏ETF在GDC 2025前<span class="text-yellow-400 font-bold">两周流入12亿元</span>（华福数据），机构持仓比例升至<span class="text-yellow-400 font-bold">18%</span>（2023年为5%）。</p>
+          </div>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">预期差分析</h3>
+        <div class="bg-gradient-to-br from-purple-900/20 to-pink-900/20 p-5 rounded-lg border border-purple-500/30">
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+            <div>
+              <h4 class="text-lg font-medium text-purple-300 mb-2">市场共识</h4>
+              <p class="text-gray-300 text-lg">AI = 降本工具（美术替代）</p>
+            </div>
+            <div>
+              <h4 class="text-lg font-medium text-purple-300 mb-2">预期差</h4>
+              <p class="text-gray-300"><span class="text-yellow-400 font-bold">AI原生玩法</span>（如实时语音推理、千人千面剧情）可能创造<span class="text-yellow-400 font-bold">新付费场景</span>，但当前估值未充分反映（恺英网络PE仅<span class="text-yellow-400 font-bold">16倍</span>，低于2022年云游戏炒作期35倍）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 关键催化剂与未来发展路径 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-rocket text-green-400 mr-3"></i>
+          关键催化剂与未来发展路径
+        </h2>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">近期催化剂（3-6个月）</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
+          <div class="bg-gradient-to-br from-green-900/20 to-teal-900/20 p-5 rounded-lg border border-green-500/30">
+            <h4 class="text-lg font-medium text-green-300 mb-3">产品落地</h4>
+            <ul class="space-y-3">
+              <li class="flex items-start">
+                <i class="fas fa-gamepad text-green-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">《Whispers From The Star》</span>
+                  <span class="text-gray-300">（Anuttacon）Q2公测，若DAU破百万将验证AI原生游戏商业模型。</span>
+                </div>
+              </li>
+              <li class="flex items-start">
+                <i class="fas fa-gamepad text-green-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">巨人网络《太空杀》</span>
+                  <span class="text-gray-300">AI玩法全量上线，需跟踪<span class="text-yellow-400 font-bold">次留>40%</span>（当前灰度测试数据）。</span>
+                </div>
+              </li>
+            </ul>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/20 to-teal-900/20 p-5 rounded-lg border border-green-500/30">
+            <h4 class="text-lg font-medium text-green-300 mb-3">技术节点</h4>
+            <ul class="space-y-3">
+              <li class="flex items-start">
+                <i class="fas fa-microchip text-green-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-white font-medium">GDC 2025</span>
+                  <span class="text-gray-300">（3月17-21日）或发布<span class="text-yellow-400 font-bold">AI 3D生成工具</span>（Unity/腾讯联合演示）。</span>
+                </div>
+              </li>
+            </ul>
+          </div>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">长期路径（2025-2027）</h3>
+        <div class="relative">
+          <div class="absolute left-0 top-0 bottom-0 w-1 bg-gradient-to-b from-blue-500 to-purple-500 rounded-full"></div>
+          <div class="ml-8 space-y-8">
+            <div class="relative">
+              <div class="absolute -left-10 top-0 w-6 h-6 bg-blue-500 rounded-full flex items-center justify-center">
+                <span class="text-xs font-bold text-white">1</span>
+              </div>
+              <div class="bg-gradient-to-r from-blue-900/20 to-indigo-900/20 p-4 rounded-lg">
+                <h4 class="text-lg font-medium text-blue-300 mb-2">阶段1（2025）</h4>
+                <p class="text-gray-300">AI工具普及（美术/代码生成渗透率>80%）</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="absolute -left-10 top-0 w-6 h-6 bg-purple-500 rounded-full flex items-center justify-center">
+                <span class="text-xs font-bold text-white">2</span>
+              </div>
+              <div class="bg-gradient-to-r from-purple-900/20 to-pink-900/20 p-4 rounded-lg">
+                <h4 class="text-lg font-medium text-purple-300 mb-2">阶段2（2026）</h4>
+                <p class="text-gray-300">AI原生游戏爆发（预计<span class="text-yellow-400 font-bold">5-10款</span>产品流水破亿）</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="absolute -left-10 top-0 w-6 h-6 bg-pink-500 rounded-full flex items-center justify-center">
+                <span class="text-xs font-bold text-white">3</span>
+              </div>
+              <div class="bg-gradient-to-r from-pink-900/20 to-red-900/20 p-4 rounded-lg">
+                <h4 class="text-lg font-medium text-pink-300 mb-2">阶段3（2027）</h4>
+                <p class="text-gray-300">订阅制AI游戏成熟（如《Project Star》推出<span class="text-yellow-400 font-bold">月卡15元</span>模式）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 产业链与核心公司深度剖析 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-network-wired text-yellow-400 mr-3"></i>
+          产业链与核心公司深度剖析
+        </h2>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-8">
+          <div class="bg-gradient-to-br from-blue-900/30 to-indigo-900/30 p-5 rounded-lg border border-blue-500/20">
+            <h4 class="text-lg font-medium text-blue-300 mb-3">上游</h4>
+            <p class="text-gray-300">算力（顺网科技、ST华通芜湖中心）、大模型（腾讯混元、网易伏羲）</p>
+          </div>
+          <div class="bg-gradient-to-br from-purple-900/30 to-pink-900/30 p-5 rounded-lg border border-purple-500/20">
+            <h4 class="text-lg font-medium text-purple-300 mb-3">中游</h4>
+            <p class="text-gray-300">引擎工具（Unity中国、恺英"形意"）</p>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/30 to-teal-900/30 p-5 rounded-lg border border-green-500/20">
+            <h4 class="text-lg font-medium text-green-300 mb-3">下游</h4>
+            <p class="text-gray-300">游戏厂商（腾讯、网易、巨人、完美世界）</p>
+          </div>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-left border-collapse">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="py-3 px-4 text-blue-300 font-semibold">公司</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">技术卡位</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">产品进展</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">巨人网络</td>
+                <td class="py-3 px-4 text-gray-300">GiantGPT备案+《太空杀》AI玩法</td>
+                <td class="py-3 px-4 text-gray-300">灰度测试次留<span class="text-yellow-400 font-bold">45%</span>（路演数据）</td>
+                <td class="py-3 px-4 text-gray-300">玩法同质化竞争</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">恺英网络</td>
+                <td class="py-3 px-4 text-gray-300">投资"自然选择"布局3D AI伴侣</td>
+                <td class="py-3 px-4 text-gray-300">《龙之谷世界》预约<span class="text-yellow-400 font-bold">380万</span></td>
+                <td class="py-3 px-4 text-gray-300">新游上线延期风险</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">完美世界</td>
+                <td class="py-3 px-4 text-gray-300">虚幻5+AI NPC（《诛仙世界》）</td>
+                <td class="py-3 px-4 text-gray-300">官网预约<span class="text-yellow-400 font-bold">300万</span></td>
+                <td class="py-3 px-4 text-gray-300">端游用户规模天花板</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">盛天网络</td>
+                <td class="py-3 px-4 text-gray-300">VRACE平台（AI美术/语音/文本）</td>
+                <td class="py-3 px-4 text-gray-300">《字灵契约》接入豆包AI</td>
+                <td class="py-3 px-4 text-gray-300">小游戏变现能力待验证</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-blue-300 mt-8 mb-4">验证与证伪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-gradient-to-br from-green-900/20 to-teal-900/20 p-5 rounded-lg border border-green-500/30">
+            <h4 class="text-lg font-medium text-green-300 mb-3">印证</h4>
+            <p class="text-gray-300">巨人网络AI NPC使《太空杀》<span class="text-yellow-400 font-bold">买量成本降低30%</span>（路演披露）。</p>
+          </div>
+          <div class="bg-gradient-to-br from-red-900/20 to-orange-900/20 p-5 rounded-lg border border-red-500/30">
+            <h4 class="text-lg font-medium text-red-300 mb-3">矛盾</h4>
+            <p class="text-gray-300">研报称AI降本<span class="text-yellow-400 font-bold">20%-50%</span>，但部分厂商反馈实际仅<span class="text-yellow-400 font-bold">10%-15%</span>（因需人工二次优化）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 潜在风险与挑战 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-exclamation-triangle text-red-400 mr-3"></i>
+          潜在风险与挑战
+        </h2>
+        
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-gradient-to-br from-red-900/20 to-orange-900/20 p-5 rounded-lg border border-red-500/30">
+            <h4 class="text-lg font-medium text-red-300 mb-3">技术风险</h4>
+            <p class="text-gray-300"><span class="text-yellow-400 font-bold">3D生成精度不足</span>：NeRF模型在人物面部细节仍需人工修正（路演演示）。</p>
+          </div>
+          <div class="bg-gradient-to-br from-red-900/20 to-orange-900/20 p-5 rounded-lg border border-red-500/30">
+            <h4 class="text-lg font-medium text-red-300 mb-3">商业化风险</h4>
+            <p class="text-gray-300"><span class="text-yellow-400 font-bold">订阅制接受度</span>：国内玩家对<span class="text-yellow-400 font-bold">15元/月AI剧情包</span>付费意愿待验证（TapTap调研仅<span class="text-yellow-400 font-bold">38%</span>用户接受）。</p>
+          </div>
+          <div class="bg-gradient-to-br from-red-900/20 to-orange-900/20 p-5 rounded-lg border border-red-500/30">
+            <h4 class="text-lg font-medium text-red-300 mb-3">政策风险</h4>
+            <p class="text-gray-300"><span class="text-yellow-400 font-bold">AI内容审核</span>：实时生成剧情可能触发<span class="text-yellow-400 font-bold">版号追加审查</span>（2024年已有2款AI游戏被要求补充材料）。</p>
+          </div>
+          <div class="bg-gradient-to-br from-red-900/20 to-orange-900/20 p-5 rounded-lg border border-red-500/30">
+            <h4 class="text-lg font-medium text-red-300 mb-3">信息矛盾</h4>
+            <p class="text-gray-300"><span class="text-yellow-400 font-bold">成本数据分歧</span>：路演称DeepSeek降本90%，但部分厂商实测仅<span class="text-yellow-400 font-bold">60%</span>（因需冗余算力保障稳定性）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 综合结论与投资启示 -->
+      <div class="glass-card rounded-2xl p-6 mb-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-chart-line text-green-400 mr-3"></i>
+          综合结论与投资启示
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold text-blue-300 mb-3">阶段判断</h3>
+          <div class="bg-gradient-to-r from-blue-900/20 to-purple-900/20 p-5 rounded-lg border border-blue-500/30">
+            <p class="text-gray-300 text-lg">AI游戏处于<span class="text-yellow-400 font-bold">"技术验证→商业验证"</span>过渡期，<span class="text-green-400 font-bold">非纯主题炒作</span>。</p>
+          </div>
+        </div>
+        
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold text-blue-300 mb-3">高价值方向</h3>
+          <div class="space-y-4">
+            <div class="bg-gradient-to-r from-green-900/20 to-teal-900/20 p-5 rounded-lg border border-green-500/30">
+              <h4 class="text-lg font-medium text-green-300 mb-2">1. AI原生游戏开发商（巨人网络、Anuttacon）</h4>
+              <p class="text-gray-300">直接受益于新付费场景。</p>
+            </div>
+            <div class="bg-gradient-to-r from-green-900/20 to-teal-900/20 p-5 rounded-lg border border-green-500/30">
+              <h4 class="text-lg font-medium text-green-300 mb-2">2. AI工具链公司（恺英网络、盛天网络）</h4>
+              <p class="text-gray-300">技术输出具备规模效应。</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-blue-300 mb-3">关键跟踪指标</h3>
+          <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+            <div class="bg-gradient-to-br from-blue-900/20 to-indigo-900/20 p-4 rounded-lg border border-blue-500/20">
+              <h4 class="text-lg font-medium text-blue-300 mb-2">产品数据</h4>
+              <p class="text-gray-300">《Whispers From The Star》公测首月<span class="text-yellow-400 font-bold">DAU/ARPPU</span></p>
+            </div>
+            <div class="bg-gradient-to-br from-purple-900/20 to-pink-900/20 p-4 rounded-lg border border-purple-500/20">
+              <h4 class="text-lg font-medium text-purple-300 mb-2">成本拐点</h4>
+              <p class="text-gray-300">AI推理成本降至<span class="text-yellow-400 font-bold">0.01元/局</span>（当前0.05元）</p>
+            </div>
+            <div class="bg-gradient-to-br from-green-900/20 to-teal-900/20 p-4 rounded-lg border border-green-500/20">
+              <h4 class="text-lg font-medium text-green-300 mb-2">政策信号</h4>
+              <p class="text-gray-300">版署对AI生成内容的<span class="text-yellow-400 font-bold">审核周期</span>（当前平均45天 vs 传统游戏30天）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 关联股票数据 -->
+      <div class="glass-card rounded-2xl p-6">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-table text-indigo-400 mr-3"></i>
+          关联股票数据
+        </h2>
+        
+        <div class="overflow-x-auto">
+          <table class="w-full text-left border-collapse">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="py-3 px-4 text-blue-300 font-semibold">股票名称</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">分类</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">项目/技术</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">状态/应用方向</th>
+                <th class="py-3 px-4 text-blue-300 font-semibold">备注</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">盛天网络</td>
+                <td class="py-3 px-4 text-gray-300">游戏产品</td>
+                <td class="py-3 px-4 text-gray-300">底层对接deepseek的社交小游戏</td>
+                <td class="py-3 px-4 text-gray-300">已完成内部测试</td>
+                <td class="py-3 px-4 text-gray-300">完成AI社交小游戏开发</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">紫天科技</td>
+                <td class="py-3 px-4 text-gray-300">游戏产品</td>
+                <td class="py-3 px-4 text-gray-300">全AI交互类侦探游戏《大侦探智斗小AI》</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">名臣健康</td>
+                <td class="py-3 px-4 text-gray-300">游戏产品</td>
+                <td class="py-3 px-4 text-gray-300">AI游戏《境·界刀鸣》</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">恒信东方</td>
+                <td class="py-3 px-4 text-gray-300">游戏产品</td>
+                <td class="py-3 px-4 text-gray-300">AI互动剧情游戏《山海之道》</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">游族网络</td>
+                <td class="py-3 px-4 text-gray-300">游戏产品</td>
+                <td class="py-3 px-4 text-gray-300">AI玩伴类产品'代号小游酱'</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">电魂网络</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">游戏人工智能联合实验室</td>
+                <td class="py-3 px-4 text-gray-300">AI经济机器人/智能NPC</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">掌趣科技</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">腾讯系AI游戏创作平台</td>
+                <td class="py-3 px-4 text-gray-300">开发中</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">神州泰岳</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">自主研发NLP开发平台</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">恺英网络</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">子公司智能NPC算法</td>
+                <td class="py-3 px-4 text-gray-300">获备案</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">完美世界</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">AI技术</td>
+                <td class="py-3 px-4 text-gray-300">应用于游戏智能</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">巨人网络</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">GiantGPT</td>
+                <td class="py-3 px-4 text-gray-300">打造陪伴型智能NPC</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">冰川网络</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">研究方向</td>
+                <td class="py-3 px-4 text-gray-300">AI角色生成/NPC智能化训练</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">ST华通</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">应用领域</td>
+                <td class="py-3 px-4 text-gray-300">智能客服系统/智能NPC</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">星辉娱乐</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">技术应用</td>
+                <td class="py-3 px-4 text-gray-300">AI绘图/场景建模/智能NPC</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">游族网络</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">AI创新院</td>
+                <td class="py-3 px-4 text-gray-300">AIGC和AI赋能游戏全球化</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">宝通科技</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">广告AI投放平台及AIGC绘画系统</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">汤姆猫</td>
+                <td class="py-3 px-4 text-gray-300">开发平台</td>
+                <td class="py-3 px-4 text-gray-300">VertexAI平台</td>
+                <td class="py-3 px-4 text-gray-300">接入Google大模型</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">昆仑万维</td>
+                <td class="py-3 px-4 text-gray-300">工具/模型</td>
+                <td class="py-3 px-4 text-gray-300">AI大模型+AI游戏《ClubKoala》</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/30">
+                <td class="py-3 px-4 text-white font-medium">盛天网络</td>
+                <td class="py-3 px-4 text-gray-300">工具/模型</td>
+                <td class="py-3 px-4 text-gray-300">接入字节跳动豆包AI工具</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+                <td class="py-3 px-4 text-gray-300">-</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI监考.html

@@ -0,0 +1,516 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI监考概念分析</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800|Noto+Sans+SC:300,400,500,700&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <style>
+    body {
+      font-family: 'Inter', 'Noto Sans SC', sans-serif;
+      background-color: #f8fafc;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #4f46e5 0%, #7c3aed 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 15px -3px rgba(0, 0, 0, 0.1), 0 4px 6px -2px rgba(0, 0, 0, 0.05);
+    }
+    .highlight {
+      background: linear-gradient(transparent 40%, rgba(139, 92, 246, 0.2) 40%, rgba(139, 92, 246, 0.2) 85%, transparent 85%);
+      padding: 0 2px;
+    }
+    .table-responsive {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .section-title {
+        font-size: 1.5rem;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-js" class="fixed inset-0 -z-10"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">AI监考概念分析</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">从政策驱动到订单落地，AI监考产业迎来发展拐点</p>
+      <div class="mt-6 flex justify-center">
+        <span class="inline-flex items-center px-4 py-2 rounded-full text-sm font-medium bg-indigo-100 text-indigo-800">
+          <i class="fas fa-calendar-alt mr-2"></i> 2025年6月
+        </span>
+      </div>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-bullhorn text-indigo-600 mr-3"></i> 概念事件
+      </h2>
+      <div class="space-y-4">
+        <div class="bg-blue-50 rounded-lg p-4 border-l-4 border-blue-500">
+          <h3 class="font-semibold text-blue-800 mb-2">背景</h3>
+          <p class="text-gray-700">2025年高考（6月7日）前夕，<span class="highlight font-semibold">多地宣布启用AI监考系统</span>，通过多模态行为识别（视频+音频）实时监控考场异常行为（如作弊、交头接耳）。</p>
+        </div>
+        
+        <div class="bg-purple-50 rounded-lg p-4 border-l-4 border-purple-500">
+          <h3 class="font-semibold text-purple-800 mb-2">催化事件</h3>
+          <ul class="space-y-2 text-gray-700">
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-purple-600 mt-1 mr-2"></i>
+              <span><span class="font-semibold">2025-06-04</span>：新闻称"2025多地高考将启用AI监考"，引发全民热议，相关标的（佳发教育、竞业达、鸥玛软件）被短线资金关注。</span>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-purple-600 mt-1 mr-2"></i>
+              <span><span class="font-semibold">政策铺垫</span>：2024年教育部《教育信息化2.0行动计划》明确要求"推进AI在考试管理中的应用"，2025年预算向AI倾斜（<span class="highlight">教育信息化经费年增8%</span>）。</span>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-purple-600 mt-1 mr-2"></i>
+              <span><span class="font-semibold">技术成熟</span>：DeepSeek等大模型降低部署成本（<span class="highlight">本地化部署成本下降60%</span>），推动AI监考从试点走向规模化。</span>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-500 mr-3"></i> 核心观点摘要
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+        <div class="bg-gradient-to-br from-blue-50 to-indigo-50 rounded-lg p-5 border border-blue-100">
+          <h3 class="font-semibold text-blue-800 mb-2">阶段判断</h3>
+          <p class="text-gray-700">AI监考已从<span class="highlight">政策驱动的主题炒作</span>（2023-2024年）进入<span class="highlight">订单落地的基本面验证阶段</span>（2025年）。</p>
+        </div>
+        <div class="bg-gradient-to-br from-green-50 to-emerald-50 rounded-lg p-5 border border-green-100">
+          <h3 class="font-semibold text-green-800 mb-2">核心驱动力</h3>
+          <p class="text-gray-700"><span class="highlight">政策强制+技术降本+场景刚需</span>三重共振，2025年市场规模预计突破<span class="highlight font-semibold">50亿元</span>（教育信息化专项补贴+高考/国考刚需）。</p>
+        </div>
+        <div class="bg-gradient-to-br from-purple-50 to-violet-50 rounded-lg p-5 border border-purple-100">
+          <h3 class="font-semibold text-purple-800 mb-2">未来潜力</h3>
+          <p class="text-gray-700">从高考向<span class="highlight">中考、职业考试、海外考试</span>渗透，长期对标标准化考场升级（<span class="highlight">全国40万间考场存量替换空间</span>）。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-brain text-pink-500 mr-3"></i> 核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">核心驱动力</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <div class="text-indigo-600 font-bold text-lg mb-2">01</div>
+            <h4 class="font-semibold text-indigo-800 mb-2">政策强制</h4>
+            <p class="text-gray-700 text-sm">2025年教育部明确"标准化考场需配备AI监考"，<span class="highlight">财政拨款按东/中/西部补贴40%/60%/80%</span>（德邦证券路演）。</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4">
+            <div class="text-purple-600 font-bold text-lg mb-2">02</div>
+            <h4 class="font-semibold text-purple-800 mb-2">技术突破</h4>
+            <p class="text-gray-700 text-sm">DeepSeek实现<span class="highlight">本地化部署</span>（数据不出校），解决隐私合规痛点（路演中佳发教育案例）。</p>
+          </div>
+          <div class="bg-pink-50 rounded-lg p-4">
+            <div class="text-pink-600 font-bold text-lg mb-2">03</div>
+            <h4 class="font-semibold text-pink-800 mb-2">成本拐点</h4>
+            <p class="text-gray-700 text-sm">AI监考硬件成本从<span class="highlight">30万/考场降至15万</span>（佳发教育2025年报价），ROI周期缩短至2年。</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-gray-700 mb-3">市场热度</h3>
+          <div class="space-y-3">
+            <div class="bg-yellow-50 rounded-lg p-4 border-l-4 border-yellow-400">
+              <h4 class="font-semibold text-yellow-800 mb-1">新闻热度</h4>
+              <p class="text-gray-700 text-sm">2025-06-04"AI监考"微博话题阅读量<span class="highlight font-semibold">2.3亿</span>，短线资金涌入教育信息化板块。</p>
+            </div>
+            <div class="bg-orange-50 rounded-lg p-4 border-l-4 border-orange-400">
+              <h4 class="font-semibold text-orange-800 mb-1">研报分歧</h4>
+              <p class="text-gray-700 text-sm">方正证券（2023-10）认为"AI监考是教育AI最快落地场景"，但民生证券提示"<span class="highlight">订单确认节奏慢于预期</span>"（2025Q1佳发教育收入仅3000万，占比不足5%）。</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-gray-700 mb-3">预期差</h3>
+          <div class="bg-red-50 rounded-lg p-4 border-l-4 border-red-400">
+            <h4 class="font-semibold text-red-800 mb-2">市场认知 vs 实际壁垒</h4>
+            <div class="space-y-2 text-gray-700 text-sm">
+              <p><span class="font-semibold">市场认知</span>：认为AI监考="摄像头+算法"，技术门槛低。</p>
+              <p><span class="font-semibold">实际壁垒</span>：</p>
+              <ul class="ml-5 space-y-1">
+                <li class="flex items-start">
+                  <i class="fas fa-angle-right text-red-500 mt-1 mr-2"></i>
+                  <span><span class="highlight">数据壁垒</span>：佳发教育积累50万考生行为数据（竞业达路演），训练专用模型需2年以上。</span>
+                </li>
+                <li class="flex items-start">
+                  <i class="fas fa-angle-right text-red-500 mt-1 mr-2"></i>
+                  <span><span class="highlight">政策壁垒</span>：仅5家企业通过教育部AI监考系统认证（佳发、竞业达、鸥玛等）。</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-rocket text-blue-500 mr-3"></i> 关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-gray-700 mb-3">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-blue-100 text-blue-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+                1
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">2025-09</h4>
+                <p class="text-gray-700 text-sm">佳发教育<span class="highlight">AI英语听说产品</span>在黑龙江/湖南等5省中考试点（预计贡献<span class="font-semibold">千万级收入</span>）。</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-100 text-blue-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+                2
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">2025-10</h4>
+                <p class="text-gray-700 text-sm">教育部发布<span class="highlight">《AI监考系统验收标准》</span>，明确技术参数（误报率<5%）。</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-100 text-blue-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+                3
+              </div>
+              <div>
+                <h4 class="font-semibold text-gray-800">2025-12</h4>
+                <p class="text-gray-700 text-sm">国考（公务员考试）<span class="highlight">首次全面启用AI监考</span>（参考2024年国考258万人规模）。</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-gray-700 mb-3">长期路径</h3>
+          <div class="bg-gradient-to-br from-indigo-50 to-purple-50 rounded-lg p-5 border border-indigo-100">
+            <div class="space-y-4">
+              <div>
+                <h4 class="font-semibold text-indigo-800 mb-2">2025-2027</h4>
+                <p class="text-gray-700 text-sm">从高考（<span class="highlight">全国40万间考场</span>）→中考（<span class="highlight">200万间考场</span>）→职业考试（<span class="highlight">注册会计师、司法考试</span>）。</p>
+              </div>
+              <div>
+                <h4 class="font-semibold text-indigo-800 mb-2">2028+</h4>
+                <p class="text-gray-700 text-sm">出海东南亚（<span class="highlight">越南/泰国高考合作</span>），对标Pearson VUE全球19万间考场网络。</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-sitemap text-green-500 mr-3"></i> 产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">产业链图谱</h3>
+        <div class="bg-gray-50 rounded-lg p-4 border border-gray-200">
+          <div class="flex flex-col md:flex-row justify-between items-center space-y-2 md:space-y-0">
+            <div class="text-center bg-blue-100 rounded-lg p-3 w-full md:w-1/3">
+              <h4 class="font-semibold text-blue-800 mb-1">上游（硬件）</h4>
+              <p class="text-sm text-gray-700">海康威视（摄像头）+ 科大讯飞（麦克风阵列）</p>
+            </div>
+            <div class="text-center bg-purple-100 rounded-lg p-3 w-full md:w-1/3">
+              <h4 class="font-semibold text-purple-800 mb-1">中游（算法/系统）</h4>
+              <p class="text-sm text-gray-700">佳发教育（灵汩大模型）+ 竞业达（AI中台）+ 鸥玛软件（云考试平台）</p>
+            </div>
+            <div class="text-center bg-green-100 rounded-lg p-3 w-full md:w-1/3">
+              <h4 class="font-semibold text-green-800 mb-1">下游（客户）</h4>
+              <p class="text-sm text-gray-700">教育局/考试院（B2G）+ 学校（B2B）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+            <thead>
+              <tr class="bg-gray-100">
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">公司</th>
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">竞争优势</th>
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">风险点</th>
+                <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">2025E订单</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">佳发教育</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">数据壁垒</span>（50万考生行为数据）+ <span class="highlight">政策绑定</span>（参与教育部标准制定）</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">C端产品商业化慢</span>（英语听说用户仅10万）</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b font-semibold"><span class="highlight">2亿元</span>（高职+中考）</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">竞业达</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">全栈能力</span>（硬件+算法+中台）+ <span class="highlight">北京高校60%市占率</span></td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">军工业务拖累现金流</span>（交付周期长）</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b font-semibold"><span class="highlight">1.5亿元</span>（智慧教室升级）</td>
+              </tr>
+              <tr class="hover:bg-gray-50">
+                <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">鸥玛软件</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">云考试平台先发优势</span>（服务注册会计师考试）</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b"><span class="highlight">依赖单一客户</span>（财政部）</td>
+                <td class="py-3 px-4 text-sm text-gray-700 border-b font-semibold"><span class="highlight">8000万元</span>（国考系统扩容）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+
+      <div class="mt-6">
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">验证与证伪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-red-50 rounded-lg p-4 border-l-4 border-red-400">
+            <h4 class="font-semibold text-red-800 mb-2">证伪点</h4>
+            <p class="text-gray-700 text-sm">方正证券2023年预测"AI监考2024年爆发"，但佳发教育2024年AI收入仅<span class="highlight">500万元</span>（占比<3%），<span class="highlight">订单落地慢于预期</span>。</p>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4 border-l-4 border-green-400">
+            <h4 class="font-semibold text-green-800 mb-2">验证点</h4>
+            <p class="text-gray-700 text-sm">2025年Q1佳发教育<span class="highlight">高职订单同比+200%</span>（德邦证券调研），印证政策驱动逻辑。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-exclamation-triangle text-red-500 mr-3"></i> 潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="bg-orange-50 rounded-lg p-4 border-l-4 border-orange-400">
+            <h3 class="font-semibold text-orange-800 mb-2">技术风险</h3>
+            <p class="text-gray-700 text-sm"><span class="highlight">误报率</span>：当前AI监考误报率<span class="highlight font-semibold">8-12%</span>（佳发教育路演），高于政策要求的5%，需持续优化。</p>
+          </div>
+          
+          <div class="bg-yellow-50 rounded-lg p-4 border-l-4 border-yellow-400">
+            <h3 class="font-semibold text-yellow-800 mb-2">商业化风险</h3>
+            <p class="text-gray-700 text-sm"><span class="highlight">价格战</span>：硬件厂商（如海康）切入赛道，可能压低毛利率（当前<span class="highlight">50%→35%</span>）。</p>
+          </div>
+        </div>
+        
+        <div class="space-y-4">
+          <div class="bg-purple-50 rounded-lg p-4 border-l-4 border-purple-400">
+            <h3 class="font-semibold text-purple-800 mb-2">政策风险</h3>
+            <p class="text-gray-700 text-sm"><span class="highlight">数据跨境</span>：若使用海外大模型（如GPT-4），可能触发《数据安全法》限制。</p>
+          </div>
+          
+          <div class="bg-blue-50 rounded-lg p-4 border-l-4 border-blue-400">
+            <h3 class="font-semibold text-blue-800 mb-2">信息矛盾</h3>
+            <p class="text-gray-700 text-sm"><span class="highlight">新闻</span>称"多地启用AI监考"，但<span class="highlight">路演</span>显示仅<span class="highlight">5省试点</span>（黑龙江/湖南等），<span class="highlight">实际覆盖率<10%</span>。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-chart-line text-green-500 mr-3"></i> 综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6 bg-gradient-to-r from-green-50 to-emerald-50 rounded-lg p-5 border border-green-200">
+        <h3 class="text-xl font-semibold text-green-800 mb-3">阶段判断</h3>
+        <p class="text-gray-700">AI监考处于<span class="highlight font-semibold">"政策订单兑现期"</span>，短期看政策落地节奏，长期看数据壁垒。</p>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">投资方向</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-blue-50 rounded-lg p-4 border border-blue-200">
+            <h4 class="font-semibold text-blue-800 mb-2">最纯标的</h4>
+            <p class="text-gray-700"><span class="highlight font-semibold">佳发教育</span>（教育AI收入占比最高+数据壁垒），<span class="highlight">目标市值50亿元</span>（对应2025E 25x PE）。</p>
+          </div>
+          <div class="bg-purple-50 rounded-lg p-4 border border-purple-200">
+            <h4 class="font-semibold text-purple-800 mb-2">弹性标的</h4>
+            <p class="text-gray-700"><span class="highlight font-semibold">竞业达</span>（智慧教室升级+AI监考双轮驱动），<span class="highlight">2025E订单增速50%+</span>。</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-700 mb-3">跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-start">
+            <div class="bg-indigo-100 text-indigo-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+              1
+            </div>
+            <div>
+              <h4 class="font-semibold text-gray-800">教育部验收标准发布时间</h4>
+              <p class="text-gray-700 text-sm">（2025Q3）</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-indigo-100 text-indigo-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+              2
+            </div>
+            <div>
+              <h4 class="font-semibold text-gray-800">佳发教育AI监考订单确认节奏</h4>
+              <p class="text-gray-700 text-sm">（2025H2需达<span class="highlight font-semibold">1亿元</span>）</p>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-indigo-100 text-indigo-800 rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
+              3
+            </div>
+            <div>
+              <h4 class="font-semibold text-gray-800">误报率技术突破</h4>
+              <p class="text-gray-700 text-sm">（需降至<span class="highlight"><5%</span>以通过政策验收）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据表格 -->
+    <div class="bg-white rounded-xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-4 flex items-center">
+        <i class="fas fa-table text-indigo-600 mr-3"></i> 关联股票数据
+      </h2>
+      
+      <div class="table-responsive">
+        <table class="min-w-full bg-white border border-gray-200 rounded-lg">
+          <thead>
+            <tr class="bg-gray-100">
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">项目</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">行业</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">分类</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">产业链</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">原因</th>
+              <th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">消息来源</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="hover:bg-gray-50">
+              <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">竞业达</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">智慧教学</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">教育</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">AI产品应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">中台建设</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">搭建视频中台、AI中台及数据中台，AI产品在教室场景下学情分析、考场场景下AI辅助监考等落地应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">公司互动</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">佳发教育</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">灵求数育大模型</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">教育</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">考试AI应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">考试环节</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">大模型在考试命题、监考、阅卷等环节效能显著提升</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">公司互动</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">鸥玛软件</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">云考试服务平台</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">教育科技</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">在线考试系统</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">考试服务模块</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">完成身份认证、题库管理、考试管理等核心功能模块开发</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">公司公告</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">中文在线</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">智能化考试监考机器人</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">教育科技</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">AI监考设备</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">考试监控</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">自主研发机器人实现考前、考中、考后全过程监控，商业市场广泛应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">公司公告</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="py-3 px-4 text-sm font-medium text-gray-900 border-b">拓维信息</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">AI一体机</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">多行业应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">AI硬件设备</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">跨行业应用</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">AI一体机运用于数字政府、交通、制造、考试等行业的文本生成、路网监测、质量检测、监考等场景</td>
+              <td class="py-3 px-4 text-sm text-gray-700 border-b">公司互动</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      fpsLimit: 60,
+      particles: {
+        color: {
+          value: "#818cf8"
+        },
+        links: {
+          color: "#818cf8",
+          distance: 150,
+          enable: true,
+          opacity: 0.2,
+          width: 1
+        },
+        move: {
+          direction: "none",
+          enable: true,
+          outModes: {
+            default: "bounce"
+          },
+          random: false,
+          speed: 1,
+          straight: false
+        },
+        number: {
+          density: {
+            enable: true,
+            area: 800
+          },
+          value: 60
+        },
+        opacity: {
+          value: 0.3
+        },
+        shape: {
+          type: "circle"
+        },
+        size: {
+          value: { min: 1, max: 3 }
+        }
+      },
+      detectRetina: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI编程.html

@@ -0,0 +1,982 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI编程概念分析报告</title>
+  
+  <!-- Fonts -->
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800|Roboto+Mono:400,500" rel="stylesheet" />
+  
+  <!-- Font Awesome -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  
+  <!-- Tailwind CSS & DaisyUI -->
+  <script src="https://cdn.tailwindcss.com"></script>
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  
+  <!-- Custom Styles -->
+  <style>
+    :root {
+      --primary-gradient: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+      --secondary-gradient: linear-gradient(135deg, #f093fb 0%, #f5576c 100%);
+      --dark-gradient: linear-gradient(135deg, #434343 0%, #000000 100%);
+    }
+    
+    body {
+      font-family: 'Inter', sans-serif;
+      background-color: #0f172a;
+      color: #e2e8f0;
+      overflow-x: hidden;
+    }
+    
+    .gradient-text {
+      background: var(--primary-gradient);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .card-gradient {
+      background: rgba(30, 41, 59, 0.8);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(148, 163, 184, 0.1);
+    }
+    
+    .timeline-dot {
+      width: 16px;
+      height: 16px;
+      background: var(--primary-gradient);
+      border-radius: 50%;
+      position: relative;
+      z-index: 2;
+    }
+    
+    .timeline-line {
+      position: absolute;
+      left: 8px;
+      top: 16px;
+      bottom: -16px;
+      width: 2px;
+      background: linear-gradient(to bottom, #667eea, #764ba2);
+      opacity: 0.5;
+    }
+    
+    .timeline-item:last-child .timeline-line {
+      display: none;
+    }
+    
+    .table-container {
+      overflow-x: auto;
+      -webkit-overflow-scrolling: touch;
+    }
+    
+    @media (max-width: 768px) {
+      .table-container {
+        font-size: 0.875rem;
+      }
+    }
+    
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    
+    .mermaid {
+      background: rgba(30, 41, 59, 0.6);
+      border-radius: 0.5rem;
+      padding: 1rem;
+      margin: 1rem 0;
+    }
+  </style>
+</head>
+<body class="min-h-screen relative">
+  <!-- Particles Background -->
+  <div id="particles-js"></div>
+  
+  <!-- Main Content -->
+  <div class="container mx-auto px-4 py-8 max-w-7xl relative z-10">
+    
+    <!-- Header Section -->
+    <header class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AI编程概念分析</h1>
+      <p class="text-lg text-slate-300 max-w-3xl mx-auto">
+        从技术验证期到商业化爆发期，AI编程正在重塑软件开发行业格局
+      </p>
+      <div class="mt-6 flex justify-center space-x-4">
+        <span class="px-4 py-2 bg-purple-900/30 rounded-full text-sm text-purple-300 border border-purple-500/30">
+          市场规模: 330亿元 (2028E)
+        </span>
+        <span class="px-4 py-2 bg-blue-900/30 rounded-full text-sm text-blue-300 border border-blue-500/30">
+          CAGR: 38%
+        </span>
+      </div>
+    </header>
+    
+    <!-- Timeline Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-clock mr-3 text-purple-400"></i>
+          概念事件时间轴
+        </h2>
+        <div class="relative">
+          <div class="timeline-item relative pl-8 pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2023-06</span>
+                <span class="text-sm text-slate-400">商业化验证</span>
+              </div>
+              <h3 class="font-semibold mb-1">GitHub Copilot ARR突破1亿美元</h3>
+              <p class="text-sm text-slate-300">首次验证AI编程订阅模式可行</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pl-8 pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2024-07</span>
+                <span class="text-sm text-slate-400">行业拐点</span>
+              </div>
+              <h3 class="font-semibold mb-1">微软财报：Copilot ARR达3亿美元</h3>
+              <p class="text-sm text-slate-300">占GitHub增长40%，行业商业化拐点</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pl-8 pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2025-01</span>
+                <span class="text-sm text-slate-400">估值爆发</span>
+              </div>
+              <h3 class="font-semibold mb-1">Cursor完成1亿美元B轮，估值26亿美元</h3>
+              <p class="text-sm text-slate-300">4个月涨6.5倍，初创公司估值爆发</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pl-8 pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2025-03</span>
+                <span class="text-sm text-slate-400">国产里程碑</span>
+              </div>
+              <h3 class="font-semibold mb-1">字节发布国内首个AI原生IDE「Trae」</h3>
+              <p class="text-sm text-slate-300">国产工具里程碑</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pl-8 pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2025-05</span>
+                <span class="text-sm text-slate-400">巨头整合</span>
+              </div>
+              <h3 class="font-semibold mb-1">OpenAI拟30亿美元收购Windsurf</h3>
+              <p class="text-sm text-slate-300">巨头整合信号</p>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pl-8">
+            <div class="timeline-dot absolute left-0 top-0"></div>
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex flex-col sm:flex-row sm:items-center sm:justify-between mb-2">
+                <span class="text-purple-400 font-semibold">2025-07</span>
+                <span class="text-sm text-slate-400">生态竞争</span>
+              </div>
+              <h3 class="font-semibold mb-1">腾讯CodeBuddy/阿里Qwen3-Coder密集发布</h3>
+              <p class="text-sm text-slate-300">生态级竞争开启</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Core Viewpoints Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-lightbulb mr-3 text-yellow-400"></i>
+          核心观点摘要
+        </h2>
+        <div class="grid md:grid-cols-2 gap-6">
+          <div class="bg-slate-800/50 rounded-lg p-5">
+            <h3 class="text-lg font-semibold mb-3 text-purple-300">阶段判断</h3>
+            <p class="text-slate-300 mb-3">
+              AI编程已从<strong class="text-purple-300">技术验证期</strong>（2023-2024）进入<strong class="text-purple-300">商业化爆发期</strong>（2025）
+            </p>
+            <div class="space-y-2 text-sm">
+              <div class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span>核心驱动力：大模型代码能力跃升（Claude4 SWE-bench 72.5%）</span>
+              </div>
+              <div class="flex items-start">
+                <i class="fas fa-check-circle text-green-400 mt-1 mr-2"></i>
+                <span>企业降本增效刚需（Salesforce冻结招聘软件工程师）</span>
+              </div>
+            </div>
+          </div>
+          
+          <div class="bg-slate-800/50 rounded-lg p-5">
+            <h3 class="text-lg font-semibold mb-3 text-blue-300">未来潜力</h3>
+            <p class="text-slate-300 mb-3">
+              预计2028年中国市场规模达<strong class="text-blue-300">330亿元</strong>（CAGR 38%）
+            </p>
+            <div class="space-y-2 text-sm">
+              <div class="flex items-start">
+                <i class="fas fa-rocket text-blue-400 mt-1 mr-2"></i>
+                <span>将成为<strong class="text-blue-300">B端首个规模化AI应用</strong></span>
+              </div>
+              <div class="flex items-start">
+                <i class="fas fa-chart-line text-blue-400 mt-1 mr-2"></i>
+                <span>软件工程师人均创收持续提升</span>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Market Analysis Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-chart-pie mr-3 text-green-400"></i>
+          核心逻辑与市场认知
+        </h2>
+        
+        <!-- Core Drivers -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold mb-4 text-green-300">核心驱动力</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex items-center mb-3">
+                <i class="fas fa-microchip text-purple-400 text-xl mr-3"></i>
+                <h4 class="font-semibold">技术突破</h4>
+              </div>
+              <ul class="text-sm space-y-2 text-slate-300">
+                <li>• 推理模型Codeforces得分<strong>2727</strong>（超99%人类）</li>
+                <li>• 代码生成准确率从56%提升至<strong>93.7%</strong></li>
+                <li>• 多模态能力：截图→代码、语音→函数</li>
+              </ul>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex items-center mb-3">
+                <i class="fas fa-coins text-yellow-400 text-xl mr-3"></i>
+                <h4 class="font-semibold">成本拐点</h4>
+              </div>
+              <ul class="text-sm space-y-2 text-slate-300">
+                <li>• 私有化部署成本从<strong>500万/4卡</strong>降至</li>
+                <li>• <strong>200万/2卡</strong>（2025，华为910B优化）</li>
+                <li>• 推动中小B端客户渗透</li>
+              </ul>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex items-center mb-3">
+                <i class="fas fa-hand-holding-usd text-blue-400 text-xl mr-3"></i>
+                <h4 class="font-semibold">需求刚性</h4>
+              </div>
+              <ul class="text-sm space-y-2 text-slate-300">
+                <li>• Meta人均创收：37万→<strong>77万美元</strong></li>
+                <li>• 阿里人均创收：80万→<strong>119万人民币</strong></li>
+                <li>• 企业降本增效需求迫切</li>
+              </ul>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Market Sentiment -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">市场热度与情绪</h3>
+          <div class="grid md:grid-cols-2 gap-6">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold mb-3 flex items-center">
+                <i class="fas fa-fire text-orange-400 mr-2"></i>
+                研报密度
+              </h4>
+              <p class="text-slate-300 mb-2">
+                2025年2-7月相关路演<strong class="text-orange-300">15场</strong>
+              </p>
+              <p class="text-sm text-slate-400">
+                主题词从"Copilot"升级为"Agent"
+              </p>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold mb-3 flex items-center">
+                <i class="fas fa-balance-scale text-purple-400 mr-2"></i>
+                情绪指标
+              </h4>
+              <div class="space-y-2">
+                <div class="flex justify-between items-center">
+                  <span class="text-green-400">乐观</span>
+                  <span class="text-sm">Cursor ARR <strong>5亿美元</strong></span>
+                </div>
+                <div class="flex justify-between items-center">
+                  <span class="text-yellow-400">分歧</span>
+                  <span class="text-sm">AI替代初级程序员仅<strong>30%</strong></span>
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Expectation Gap -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-red-300">预期差分析</h3>
+          <div class="overflow-x-auto">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4">市场叙事</th>
+                  <th class="text-left py-3 px-4">路演验证</th>
+                  <th class="text-left py-3 px-4">偏差</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-700/50">
+                  <td class="py-3 px-4">"AI将替代50%程序员"</td>
+                  <td class="py-3 px-4">卓易信息：当前AI仅辅助<strong>20-30%</strong>代码生成</td>
+                  <td class="py-3 px-4"><span class="text-red-400">过度乐观</span></td>
+                </tr>
+                <tr class="border-b border-slate-700/50">
+                  <td class="py-3 px-4">"开源模型平权"</td>
+                  <td class="py-3 px-4">科大国创：私有化部署仍需<strong>500万硬件</strong></td>
+                  <td class="py-3 px-4"><span class="text-yellow-400">成本壁垒</span></td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4">"IDE厂商无壁垒"</td>
+                  <td class="py-3 px-4">普元信息：IDE开发周期<strong>7年</strong>，人才稀缺</td>
+                  <td class="py-3 px-4"><span class="text-yellow-400">低估壁垒</span></td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Development Path Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-route mr-3 text-indigo-400"></i>
+          催化剂与发展路径
+        </h2>
+        
+        <!-- Recent Catalysts -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold mb-4 text-indigo-300">近期催化剂（3-6个月）</h3>
+          <div class="grid md:grid-cols-2 gap-4">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold mb-3 text-purple-300">产品落地</h4>
+              <div class="space-y-3 text-sm">
+                <div class="flex items-start">
+                  <i class="fas fa-code-branch text-purple-400 mt-1 mr-2"></i>
+                  <div>
+                    <p class="font-medium">腾讯CodeBuddy</p>
+                    <p class="text-slate-400">2025.7内测 → Q3公测（集成Claude4/GPT-4o）</p>
+                  </div>
+                </div>
+                <div class="flex items-start">
+                  <i class="fas fa-code-branch text-purple-400 mt-1 mr-2"></i>
+                  <div>
+                    <p class="font-medium">卓易信息EazyDevelop</p>
+                    <p class="text-slate-400">2025.6公测 → 12月收费版（1500-2000元/人/年）</p>
+                  </div>
+                </div>
+              </div>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <h4 class="font-semibold mb-3 text-green-300">政策催化</h4>
+              <div class="space-y-3 text-sm">
+                <div class="flex items-start">
+                  <i class="fas fa-landmark text-green-400 mt-1 mr-2"></i>
+                  <div>
+                    <p class="font-medium">信创补贴</p>
+                    <p class="text-slate-400">直接补贴厂商（2025Q3落地）</p>
+                  </div>
+                </div>
+                <div class="flex items-start">
+                  <i class="fas fa-shield-alt text-green-400 mt-1 mr-2"></i>
+                  <div>
+                    <p class="font-medium">国产IDE受益</p>
+                    <p class="text-slate-400">如SnapDevelop等国产工具</p>
+                  </div>
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Long-term Path -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-300">长期路径（2025-2028）</h3>
+          <div class="bg-slate-800/50 rounded-lg p-6">
+            <div class="flex flex-col md:flex-row items-center justify-between space-y-4 md:space-y-0">
+              <div class="text-center">
+                <div class="w-20 h-20 rounded-full bg-purple-600/20 border-2 border-purple-500 flex items-center justify-center mx-auto mb-2">
+                  <span class="text-lg font-bold">2025</span>
+                </div>
+                <p class="font-semibold">工具化</p>
+              </div>
+              
+              <div class="hidden md:block text-purple-400">
+                <i class="fas fa-arrow-right text-2xl"></i>
+              </div>
+              
+              <div class="text-center">
+                <div class="w-20 h-20 rounded-full bg-blue-600/20 border-2 border-blue-500 flex items-center justify-center mx-auto mb-2">
+                  <span class="text-lg font-bold">2026</span>
+                </div>
+                <p class="font-semibold">工作流重构</p>
+                <p class="text-xs text-slate-400">Agent化</p>
+              </div>
+              
+              <div class="hidden md:block text-blue-400">
+                <i class="fas fa-arrow-right text-2xl"></i>
+              </div>
+              
+              <div class="text-center">
+                <div class="w-20 h-20 rounded-full bg-green-600/20 border-2 border-green-500 flex items-center justify-center mx-auto mb-2">
+                  <span class="text-lg font-bold">2027</span>
+                </div>
+                <p class="font-semibold">软件工厂</p>
+                <p class="text-xs text-slate-400">多Agent协作</p>
+              </div>
+              
+              <div class="hidden md:block text-green-400">
+                <i class="fas fa-arrow-right text-2xl"></i>
+              </div>
+              
+              <div class="text-center">
+                <div class="w-20 h-20 rounded-full bg-yellow-600/20 border-2 border-yellow-500 flex items-center justify-center mx-auto mb-2">
+                  <span class="text-lg font-bold">2028</span>
+                </div>
+                <p class="font-semibold">全民开发</p>
+                <p class="text-xs text-slate-400">自然语言编程</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Industry Chain Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-sitemap mr-3 text-cyan-400"></i>
+          产业链与核心公司
+        </h2>
+        
+        <!-- Industry Chain Map -->
+        <div class="mb-8">
+          <h3 class="text-xl font-semibold mb-4 text-cyan-300">产业链图谱</h3>
+          <div class="grid md:grid-cols-3 gap-4">
+            <div class="bg-slate-800/50 rounded-lg p-4 text-center">
+              <div class="w-16 h-16 rounded-full bg-purple-600/20 border-2 border-purple-500 flex items-center justify-center mx-auto mb-3">
+                <i class="fas fa-server text-purple-400 text-2xl"></i>
+              </div>
+              <h4 class="font-semibold mb-2">上游</h4>
+              <p class="text-sm text-slate-300">算力（华为910B）</p>
+              <p class="text-sm text-slate-300">大模型（DeepSeek/Qwen）</p>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4 text-center">
+              <div class="w-16 h-16 rounded-full bg-blue-600/20 border-2 border-blue-500 flex items-center justify-center mx-auto mb-3">
+                <i class="fas fa-tools text-blue-400 text-2xl"></i>
+              </div>
+              <h4 class="font-semibold mb-2">中游</h4>
+              <p class="text-sm text-slate-300">IDE工具（Cursor/Trae）</p>
+              <p class="text-sm text-slate-300">低代码平台（普元/金现代）</p>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4 text-center">
+              <div class="w-16 h-16 rounded-full bg-green-600/20 border-2 border-green-500 flex items-center justify-center mx-auto mb-3">
+                <i class="fas fa-building text-green-400 text-2xl"></i>
+              </div>
+              <h4 class="font-semibold mb-2">下游</h4>
+              <p class="text-sm text-slate-300">金融（华泰证券）</p>
+              <p class="text-sm text-slate-300">电信（中国移动）</p>
+              <p class="text-sm text-slate-300">政务（税务系统）</p>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Core Players -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-orange-300">核心玩家对比</h3>
+          <div class="overflow-x-auto">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4">公司</th>
+                  <th class="text-left py-3 px-4">定位</th>
+                  <th class="text-left py-3 px-4">进展</th>
+                  <th class="text-left py-3 px-4">风险</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-700/50">
+                  <td class="py-3 px-4 font-semibold text-purple-300">卓易信息</td>
+                  <td class="py-3 px-4">国产IDE龙头</td>
+                  <td class="py-3 px-4">SnapDevelop海外用户<strong>1.8万</strong>，ARR<strong>1亿元</strong></td>
+                  <td class="py-3 px-4">鸿蒙版本延迟（12月）</td>
+                </tr>
+                <tr class="border-b border-slate-700/50">
+                  <td class="py-3 px-4 font-semibold text-blue-300">普元信息</td>
+                  <td class="py-3 px-4">低代码+AI</td>
+                  <td class="py-3 px-4">中标<strong>国家电网</strong>低代码项目</td>
+                  <td class="py-3 px-4">大客户依赖（电力占60%）</td>
+                </tr>
+                <tr class="border-b border-slate-700/50">
+                  <td class="py-3 px-4 font-semibold text-green-300">金现代</td>
+                  <td class="py-3 px-4">AI低代码</td>
+                  <td class="py-3 px-4">轻骑兵平台<strong>航天二院</strong>案例</td>
+                  <td class="py-3 px-4">军工订单回款慢</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 font-semibold text-yellow-300">商汤-W</td>
+                  <td class="py-3 px-4">代码小浣熊</td>
+                  <td class="py-3 px-4"><strong>10万</strong>开发者，日生成<strong>10亿Tokens</strong></td>
+                  <td class="py-3 px-4">模型成本压力</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Risks Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-exclamation-triangle mr-3 text-red-400"></i>
+          潜在风险
+        </h2>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="bg-red-900/20 border border-red-500/30 rounded-lg p-4">
+            <div class="flex items-center mb-3">
+              <i class="fas fa-microchip text-red-400 text-xl mr-3"></i>
+              <h4 class="font-semibold">技术瓶颈</h4>
+            </div>
+            <p class="text-sm text-slate-300">
+              复杂业务逻辑生成准确率<strong>&lt;60%</strong>（普元路演）
+            </p>
+          </div>
+          
+          <div class="bg-yellow-900/20 border border-yellow-500/30 rounded-lg p-4">
+            <div class="flex items-center mb-3">
+              <i class="fas fa-dollar-sign text-yellow-400 text-xl mr-3"></i>
+              <h4 class="font-semibold">商业化</h4>
+            </div>
+            <p class="text-sm text-slate-300">
+              私有化部署成本<strong>500万</strong>（科大国创）
+            </p>
+          </div>
+          
+          <div class="bg-orange-900/20 border border-orange-500/30 rounded-lg p-4">
+            <div class="flex items-center mb-3">
+              <i class="fas fa-gavel text-orange-400 text-xl mr-3"></i>
+              <h4 class="font-semibold">政策</h4>
+            </div>
+            <p class="text-sm text-slate-300">
+              信创补贴可能<strong>延迟至2026</strong>（卓易路演）
+            </p>
+          </div>
+          
+          <div class="bg-purple-900/20 border border-purple-500/30 rounded-lg p-4">
+            <div class="flex items-center mb-3">
+              <i class="fas fa-balance-scale text-purple-400 text-xl mr-3"></i>
+              <h4 class="font-semibold">信息矛盾</h4>
+            </div>
+            <p class="text-sm text-slate-300">
+              新闻称"完全替代工程师" vs 路演"仅辅助30%"
+            </p>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Investment Insights Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-chart-line mr-3 text-green-400"></i>
+          综合结论与投资启示
+        </h2>
+        
+        <!-- Stage Judgment -->
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold mb-4 text-green-300">阶段判断</h3>
+          <div class="bg-slate-800/50 rounded-lg p-5">
+            <div class="flex items-center mb-3">
+              <i class="fas fa-info-circle text-blue-400 mr-2"></i>
+              <p class="text-lg">
+                当前处于：<strong class="text-blue-300">商业化爆发前夜</strong>（类似2020年新能源车）
+              </p>
+            </div>
+            <p class="text-slate-300">
+              <strong class="text-yellow-300">主题炒作与基本面交织</strong>
+            </p>
+            <div class="mt-4 p-3 bg-blue-900/20 rounded border border-blue-500/30">
+              <p class="text-sm">
+                <i class="fas fa-lightbulb text-yellow-400 mr-2"></i>
+                关键信号：<strong class="text-yellow-300">Q3收费版落地</strong>（卓易/腾讯）将验证真实需求
+              </p>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Investment Direction -->
+        <div class="mb-6">
+          <h3 class="text-xl font-semibold mb-4 text-purple-300">投资方向</h3>
+          <div class="space-y-4">
+            <div class="bg-gradient-to-r from-purple-900/20 to-purple-800/20 border border-purple-500/30 rounded-lg p-4">
+              <div class="flex items-center justify-between">
+                <div>
+                  <h4 class="font-semibold text-purple-300">最纯标的</h4>
+                  <p class="text-lg"><strong class="text-purple-300">卓易信息</strong></p>
+                  <p class="text-sm text-slate-300">IDE稀缺性+信创红利</p>
+                </div>
+                <i class="fas fa-star text-purple-400 text-2xl"></i>
+              </div>
+            </div>
+            
+            <div class="bg-gradient-to-r from-blue-900/20 to-blue-800/20 border border-blue-500/30 rounded-lg p-4">
+              <div class="flex items-center justify-between">
+                <div>
+                  <h4 class="font-semibold text-blue-300">弹性标的</h4>
+                  <p class="text-lg"><strong class="text-blue-300">金现代</strong></p>
+                  <p class="text-sm text-slate-300">低代码+军工订单</p>
+                </div>
+                <i class="fas fa-rocket text-blue-400 text-2xl"></i>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <!-- Observation Indicators -->
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-orange-300">观察指标</h3>
+          <div class="grid md:grid-cols-2 gap-4">
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex items-center mb-2">
+                <i class="fas fa-chart-area text-green-400 mr-2"></i>
+                <h4 class="font-semibold">Cursor ARR季度增速</h4>
+              </div>
+              <p class="text-sm text-slate-300">验证订阅天花板</p>
+            </div>
+            
+            <div class="bg-slate-800/50 rounded-lg p-4">
+              <div class="flex items-center mb-2">
+                <i class="fas fa-download text-blue-400 mr-2"></i>
+                <h4 class="font-semibold">国产IDE鸿蒙版下载量</h4>
+              </div>
+              <p class="text-sm text-slate-300">信创渗透率</p>
+            </div>
+          </div>
+          
+          <div class="mt-4 p-4 bg-red-900/20 border border-red-500/30 rounded-lg">
+            <p class="text-sm">
+              <i class="fas fa-exclamation-circle text-red-400 mr-2"></i>
+              <strong>风险提示：</strong>若<strong class="text-red-300">Q3收费版用户转化率&lt;10%</strong>，需警惕估值回调
+            </p>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Related Stocks Section -->
+    <section class="mb-12">
+      <div class="card-gradient rounded-xl p-6">
+        <h2 class="text-2xl font-bold mb-6 flex items-center">
+          <i class="fas fa-table mr-3 text-indigo-400"></i>
+          关联股票数据
+        </h2>
+        <div class="table-container">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4">股票</th>
+                <th class="text-left py-3 px-4">分类</th>
+                <th class="text-left py-3 px-4">项目</th>
+                <th class="text-left py-3 px-4">业务相关</th>
+                <th class="text-left py-3 px-4">资料来源</th>
+                <th class="text-left py-3 px-4">关联原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">金现代</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司为客户提供以低代码开发平台为代表的标准化、通用软件</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码开发平台属于标准化通用软件业务</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">新炬网络</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司拥有低代码开发平台等数字化管理产品</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码开发平台属于数字化管理产品</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">普元信息</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司低代码开发平台可支持客户进行各类企业级应用的开发</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台支持企业级应用开发</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">泛微网络</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">e-builder低代码构建平台</td>
+                <td class="py-3 px-4">公司低代码相关产品为e-builder低代码构建平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">e-builder平台满足组织数字化需求</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">浩云科技</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码+人工智能</td>
+                <td class="py-3 px-4">公司将低代码平台技术结合人工智能及接入大模型专项应用</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码与AI技术结合创新</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">恒华科技</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">Web低代码技术平台</td>
+                <td class="py-3 px-4">公司低代码技术平台Web可帮助开发人员和企业用户快速构建应用程序</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">Web平台加速应用开发</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">致远互联</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司低代码平台为企业各类协同应用和生态伙伴提供高效可规模化交付的开发平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台支持规模化交付</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">初灵信息</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码个性化流程搭建</td>
+                <td class="py-3 px-4">实现低代码个性化流程搭建营销等场景</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码实现个性化流程搭建</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">湘邮科技</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">内部低代码平台</td>
+                <td class="py-3 px-4">公司自研了内部使用的低代码平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">自研低代码平台支持内部应用</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">浙大网新</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司搭建了低代码开发平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台缩短开发时间</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">中科科创</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">ModelFarm人工智能开发平台</td>
+                <td class="py-3 px-4">公司ModelFarm一站式人工智能开发平台具备低代码开发特性</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码特性加速模型训练</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">久其软件</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码平台</td>
+                <td class="py-3 px-4">久其女娲的低代码平台是针对大型政企的业务特点设计开发</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台适配大型政企需求</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">浪潮软件</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">浪潮GIX低代码平台</td>
+                <td class="py-3 px-4">拥有浪潮GIX低代码平台</td>
+                <td class="py-3 px-4">网络公开资料</td>
+                <td class="py-3 px-4">GIX平台支持低代码开发</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">天亿马</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码应用开发</td>
+                <td class="py-3 px-4">拥有低代码应用开发能力</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">具备低代码开发能力</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">惠博普</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">ICloud低代码开发平台</td>
+                <td class="py-3 px-4">凯特数智拥有完全自主可控的ICloud低代码开发平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">ICloud平台自主可控</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">思特奇</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码开发平台</td>
+                <td class="py-3 px-4">公司打造的低代码开发平台可为客户快速解析需求</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台提升需求响应速度</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">浩瀚深度</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码AI开发</td>
+                <td class="py-3 px-4">公司浩瀚星辰大模型基于Transformer架构涉及低代码等技术</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">AI模型整合低代码技术</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">盛通股份</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">AI编程教育</td>
+                <td class="py-3 px-4">子公司乐博乐博拥有完整的科技教育课程体系涵盖AI编程</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">教育课程体系包含AI编程</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">卓易信息</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">SnapDevelop低代码产品</td>
+                <td class="py-3 px-4">子公司艾普阳科技自主研发的低代码IDE产品SnapDevelop具有自主知识产权</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码产品替代国外工具</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">法本信息</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码+自动化测试</td>
+                <td class="py-3 px-4">公司用AIGC技术赋能软件设计并通过低代码平台联动自动化测试工具</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码与测试工具联动</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">力合科创</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码/无代码建模</td>
+                <td class="py-3 px-4">博思智能平台提供低代码/无代码建模自动化优化数据处理方案</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码实现建模自动化</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">中科创达</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">信创低代码平台</td>
+                <td class="py-3 px-4">公司推出面向党政军、央国企客户的信创低代码平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码平台适配信创环境</td>
+              </tr>
+              <tr class="border-b border-slate-700/50 hover:bg-slate-800/30 transition-colors">
+                <td class="py-3 px-4 font-semibold text-purple-300">新晨科技</td>
+                <td class="py-3 px-4">业务相关</td>
+                <td class="py-3 px-4">低代码企业建模</td>
+                <td class="py-3 px-4">公司自主研发了低代码企业建模平台</td>
+                <td class="py-3 px-4">互动</td>
+                <td class="py-3 px-4">低代码支持企业建模</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </section>
+    
+  </div>
+  
+  <!-- Scripts -->
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // Particles Background
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: ["#667eea", "#764ba2", "#f093fb", "#f5576c"]
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: true
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: true,
+          straight: false,
+          out_mode: "out"
+        },
+        links: {
+          enable: true,
+          distance: 150,
+          color: "#667eea",
+          opacity: 0.3,
+          width: 1
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI芯片.html

@@ -0,0 +1,456 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AI芯片概念分析</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0-alpha1/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <style>
+        body {
+            background-color: #f8f9fa;
+            font-family: 'Microsoft YaHei', 'PingFang SC', sans-serif;
+        }
+        .hero-section {
+            background: linear-gradient(135deg, #0d6efd 0%, #6610f2 100%);
+            color: white;
+            padding: 3rem 0;
+            margin-bottom: 2rem;
+            border-radius: 0 0 1rem 1rem;
+        }
+        .card {
+            border: none;
+            border-radius: 0.75rem;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            transition: transform 0.3s ease, box-shadow 0.3s ease;
+            margin-bottom: 1.5rem;
+        }
+        .card:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 10px 20px rgba(0, 0, 0, 0.1);
+        }
+        .chip-category {
+            display: inline-block;
+            padding: 0.25rem 0.75rem;
+            border-radius: 1rem;
+            font-size: 0.875rem;
+            font-weight: 600;
+            margin-right: 0.5rem;
+            margin-bottom: 0.5rem;
+        }
+        .category-gpu { background-color: #e3f2fd; color: #1565c0; }
+        .category-asic { background-color: #f3e5f5; color: #6a1b9a; }
+        .category-tpu { background-color: #e8f5e9; color: #2e7d32; }
+        .category-dpu { background-color: #fff3e0; color: #e65100; }
+        .category-mlu { background-color: #fce4ec; color: #c2185b; }
+        .category-pcie { background-color: #e0f2f1; color: #00695c; }
+        
+        .table-responsive {
+            border-radius: 0.75rem;
+            overflow: hidden;
+        }
+        .table {
+            margin-bottom: 0;
+        }
+        .table thead th {
+            background-color: #0d6efd;
+            color: white;
+            border: none;
+            font-weight: 600;
+        }
+        .table tbody tr:nth-of-type(odd) {
+            background-color: rgba(0, 0, 0, 0.02);
+        }
+        .table tbody tr:hover {
+            background-color: rgba(13, 110, 253, 0.05);
+        }
+        .badge-source {
+            font-size: 0.75rem;
+        }
+        .footer {
+            background-color: #343a40;
+            color: white;
+            padding: 2rem 0;
+            margin-top: 3rem;
+        }
+        .section-title {
+            position: relative;
+            padding-bottom: 0.75rem;
+            margin-bottom: 1.5rem;
+        }
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 50px;
+            height: 3px;
+            background-color: #0d6efd;
+        }
+    </style>
+</head>
+<body>
+    <!-- Hero Section -->
+    <div class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-3">AI芯片概念分析</h1>
+                    <p class="lead mb-0">探索人工智能时代核心硬件产业链，深度解析GPU、ASIC、TPU、DPU等AI芯片技术发展与市场格局</p>
+                </div>
+                <div class="col-lg-4 text-lg-end mt-4 mt-lg-0">
+                    <div class="d-flex align-items-center justify-content-lg-end">
+                        <i class="bi bi-cpu fs-1 me-3"></i>
+                        <div>
+                            <div class="fs-4 fw-bold">AI芯片(250812)</div>
+                            <div>核心概念板块</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <div class="container mb-5">
+        <!-- 概念概述 -->
+        <div class="row mb-5">
+            <div class="col-12">
+                <div class="card">
+                    <div class="card-body p-4">
+                        <h2 class="section-title">AI芯片概念概述</h2>
+                        <p class="lead">AI芯片是人工智能时代的核心硬件基础设施，是支撑各类AI算法高效运行的关键组件。随着大模型、自动驾驶、智能计算等领域的快速发展，AI芯片市场需求呈现爆发式增长。</p>
+                        <p>当前AI芯片主要分为GPU（图形处理器）、ASIC（专用集成电路）、TPU（张量处理单元）、DPU（数据处理单元）、MLU（机器学习单元）以及PCIe交换芯片等多种类型，各自在不同应用场景中发挥重要作用。</p>
+                        <div class="row mt-4">
+                            <div class="col-md-6 col-lg-4 mb-3">
+                                <div class="d-flex align-items-center">
+                                    <div class="bg-primary bg-opacity-10 p-3 rounded-circle me-3">
+                                        <i class="bi bi-lightning-charge text-primary fs-4"></i>
+                                    </div>
+                                    <div>
+                                        <h5 class="mb-0">高性能计算</h5>
+                                        <p class="text-muted mb-0">提供强大算力支撑</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 col-lg-4 mb-3">
+                                <div class="d-flex align-items-center">
+                                    <div class="bg-success bg-opacity-10 p-3 rounded-circle me-3">
+                                        <i class="bi bi-battery-charging text-success fs-4"></i>
+                                    </div>
+                                    <div>
+                                        <h5 class="mb-0">能效优化</h5>
+                                        <p class="text-muted mb-0">降低功耗提升效率</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 col-lg-4 mb-3">
+                                <div class="d-flex align-items-center">
+                                    <div class="bg-warning bg-opacity-10 p-3 rounded-circle me-3">
+                                        <i class="bi bi-shield-check text-warning fs-4"></i>
+                                    </div>
+                                    <div>
+                                        <h5 class="mb-0">安全可控</h5>
+                                        <p class="text-muted mb-0">国产替代加速推进</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 芯片分类说明 -->
+        <div class="row mb-5">
+            <div class="col-12">
+                <h2 class="section-title">AI芯片主要分类</h2>
+                <div class="row">
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-gpu">GPU</span>
+                                    <h5 class="card-title mb-0">图形处理器</h5>
+                                </div>
+                                <p class="card-text">通用并行计算架构，适合大规模并行计算任务，在深度学习训练和推理领域应用广泛。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-asic">ASIC</span>
+                                    <h5 class="card-title mb-0">专用集成电路</h5>
+                                </div>
+                                <p class="card-text">为特定应用场景定制设计，在特定任务上性能优越、功耗低，适合大规模部署。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-tpu">TPU</span>
+                                    <h5 class="card-title mb-0">张量处理单元</h5>
+                                </div>
+                                <p class="card-text">专为神经网络计算优化，擅长处理大规模矩阵和张量运算，是AI加速的重要方向。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-dpu">DPU</span>
+                                    <h5 class="card-title mb-0">数据处理单元</h5>
+                                </div>
+                                <p class="card-text">专注于数据中心网络、存储和安全等基础设施任务，释放CPU资源，提升整体系统效率。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-mlu">MLU</span>
+                                    <h5 class="card-title mb-0">机器学习单元</h5>
+                                </div>
+                                <p class="card-text">专为机器学习任务设计的处理器，提供高效的AI训练和推理能力，覆盖云端到边缘端。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 col-lg-4 mb-4">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <div class="d-flex align-items-center mb-3">
+                                    <span class="chip-category category-pcie">PCIe交换芯片</span>
+                                    <h5 class="card-title mb-0">高速互连芯片</h5>
+                                </div>
+                                <p class="card-text">解决AI服务器中CPU和GPU之间的连接问题，提供高带宽、低延迟的数据传输通道。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 股票数据表格 -->
+        <div class="row mb-5">
+            <div class="col-12">
+                <h2 class="section-title">AI芯片概念股票一览</h2>
+                <div class="card">
+                    <div class="card-body p-0">
+                        <div class="table-responsive">
+                            <table class="table table-hover">
+                                <thead>
+                                    <tr>
+                                        <th scope="col">股票名称</th>
+                                        <th scope="col">芯片分类</th>
+                                        <th scope="col">业务相关</th>
+                                        <th scope="col">信息来源</th>
+                                        <th scope="col">入选理由</th>
+                                    </tr>
+                                </thead>
+                                <tbody>
+                                    <tr>
+                                        <td><strong>景嘉微</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>国内专用GPU龙头，核心产品JM11系列芯片及景宏系列AI算力产品</td>
+                                        <td><span class="badge bg-secondary badge-source">研报</span></td>
+                                        <td>核心产品覆盖GPU及AI算力芯片领域</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>国芯科技</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>GPU芯片IDM929已内测成功；RISC-V GPU当前阶段的研发工作已结束</td>
+                                        <td><span class="badge bg-info badge-source">互动</span></td>
+                                        <td>GPU芯片研发进展及技术布局</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>海光信息</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>公司DCU系列基于GPGPU架构，DCU芯片技术领域处于国内领先地位</td>
+                                        <td><span class="badge bg-secondary badge-source">研报</span></td>
+                                        <td>GPGPU架构技术领先性</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>东芯股份</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>上海砺算（持股37.87%）发布了7G100系列GPU芯片</td>
+                                        <td><span class="badge bg-info badge-source">互动/工商</span></td>
+                                        <td>参股公司GPU芯片研发成果</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>华东重机</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>锐芯图芯（持股43.18%）已实现GPU芯片量产且批量供货</td>
+                                        <td><span class="badge bg-warning badge-source">公告/调研</span></td>
+                                        <td>参股公司GPU芯片量产能力</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>旋极信息</strong></td>
+                                        <td><span class="chip-category category-gpu">GPU</span></td>
+                                        <td>浙江曲速（持股13.22%）主要从事类GPU芯片（VPU芯片）、AI推理芯片等研发及销售；VPU821芯片已量产并销售</td>
+                                        <td><span class="badge bg-info badge-source">互动/工商</span></td>
+                                        <td>参股公司GPU相关芯片研发及量产</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>芯原股份</strong></td>
+                                        <td><span class="chip-category category-asic">ASIC</span></td>
+                                        <td>国内领先的SOC及ASIC设计服务提供商，拥有GPU、NPU、VPU等多款处理器IP</td>
+                                        <td><span class="badge bg-secondary badge-source">研报</span></td>
+                                        <td>ASIC设计服务及多核处理器IP能力</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>翱捷科技</strong></td>
+                                        <td><span class="chip-category category-asic">ASIC</span></td>
+                                        <td>定制化ASIC能力国内领先</td>
+                                        <td><span class="badge bg-secondary badge-source">研报</span></td>
+                                        <td>ASIC定制化技术优势</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>灿芯股份</strong></td>
+                                        <td><span class="chip-category category-asic">ASIC</span></td>
+                                        <td>拥有一站式芯片定制服务，在ASIC定制芯片领域有成功案例</td>
+                                        <td><span class="badge bg-light text-dark badge-source">年报</span></td>
+                                        <td>ASIC芯片定制服务经验</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>科德教育</strong></td>
+                                        <td><span class="chip-category category-tpu">TPU</span></td>
+                                        <td>中昊芯英（持股5.52%）掌握TPU架构AI芯片核心技术并实现TPU芯片量产</td>
+                                        <td><span class="badge bg-info badge-source">互动/工商</span></td>
+                                        <td>参股公司TPU芯片核心技术及量产能力</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>致尚科技</strong></td>
+                                        <td><span class="chip-category category-dpu">DPU</span></td>
+                                        <td>拟收购99.98%股权的DPU产品主要包括NSA X1/X3/X5 DPU、NSA A3 DPU</td>
+                                        <td><span class="badge bg-warning badge-source">公告/互动</span></td>
+                                        <td>DPU产品收购及技术布局</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>中兴通讯</strong></td>
+                                        <td><span class="chip-category category-dpu">DPU</span></td>
+                                        <td>自研定海芯片是数据处理加速（DPU）芯片</td>
+                                        <td><span class="badge bg-info badge-source">互动</span></td>
+                                        <td>自主研发DPU芯片</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>寒武纪</strong></td>
+                                        <td><span class="chip-category category-mlu">MLU</span></td>
+                                        <td>国内稀缺的云端AI芯片厂商，云端产品线已迭代至思元590系列；边缘产品线以思元220为主</td>
+                                        <td><span class="badge bg-secondary badge-source">研报</span></td>
+                                        <td>云端及边缘端AI芯片产品线布局</td>
+                                    </tr>
+                                    <tr>
+                                        <td><strong>万通发展</strong></td>
+                                        <td><span class="chip-category category-pcie">PCIe交换芯片</span></td>
+                                        <td>澎博科技（拟收购持股62.98%）核心产品为PCIe高速交换芯片；在AI服务器领域解决CPU和GPU连接问题</td>
+                                        <td><span class="badge bg-warning badge-source">公告</span></td>
+                                        <td>PCIe交换芯片核心技术及AI服务器应用</td>
+                                    </tr>
+                                </tbody>
+                            </table>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 行业趋势 -->
+        <div class="row mb-5">
+            <div class="col-12">
+                <div class="card">
+                    <div class="card-body p-4">
+                        <h2 class="section-title">行业发展趋势</h2>
+                        <div class="row">
+                            <div class="col-md-6 mb-4">
+                                <h5 class="mb-3"><i class="bi bi-graph-up-arrow text-primary me-2"></i>市场规模持续扩大</h5>
+                                <p>随着人工智能技术在各行业的深度应用，AI芯片市场需求呈现爆发式增长。预计到2025年，全球AI芯片市场规模将超过700亿美元，年复合增长率保持在30%以上。</p>
+                            </div>
+                            <div class="col-md-6 mb-4">
+                                <h5 class="mb-3"><i class="bi bi-cpu text-success me-2"></i>技术架构多元化发展</h5>
+                                <p>AI芯片技术路线呈现多元化发展趋势，GPU、ASIC、TPU、DPU等不同架构芯片各自发挥优势，满足不同场景下的算力需求，同时存算一体、光子计算等新型计算架构也在加速探索。</p>
+                            </div>
+                            <div class="col-md-6 mb-4">
+                                <h5 class="mb-3"><i class="bi bi-globe text-warning me-2"></i>国产替代加速推进</h5>
+                                <p>在国家政策大力支持下，国内AI芯片企业加速技术创新和产品迭代，在GPU、DPU等领域不断取得突破，国产替代进程明显加快，自主可控能力持续提升。</p>
+                            </div>
+                            <div class="col-md-6 mb-4">
+                                <h5 class="mb-3"><i class="bi bi-cloud-arrow-down text-info me-2"></i>应用场景不断拓展</h5>
+                                <p>AI芯片应用场景从云端向边缘端、终端延伸，覆盖大模型训练、自动驾驶、智慧城市、工业互联网、智能终端等多个领域，应用场景不断丰富和深化。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <!-- Footer -->
+    <footer class="footer">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <h5 class="mb-3">AI芯片概念分析</h5>
+                    <p class="mb-0">本页面基于公开市场信息整理，仅供参考，不构成投资建议。</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">数据更新时间: <span id="update-time"></span></p>
+                    <p class="mb-0">© 2023 AI芯片概念分析. All rights reserved.</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0-alpha1/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 设置当前日期
+        document.getElementById('update-time').textContent = new Date().toLocaleDateString('zh-CN');
+        
+        // 添加表格排序功能
+        document.addEventListener('DOMContentLoaded', function() {
+            const table = document.querySelector('table');
+            const headers = table.querySelectorAll('thead th');
+            const tbody = table.querySelector('tbody');
+            const rows = Array.from(tbody.querySelectorAll('tr'));
+            
+            headers.forEach((header, index) => {
+                if (index > 0) { // 跳过第一列（股票名称）
+                    header.addEventListener('click', () => {
+                        const isAscending = header.classList.contains('asc');
+                        
+                        // 清除所有列的排序类
+                        headers.forEach(h => h.classList.remove('asc', 'desc'));
+                        
+                        // 设置当前列的排序类
+                        header.classList.add(isAscending ? 'desc' : 'asc');
+                        
+                        // 排序行
+                        rows.sort((a, b) => {
+                            const aValue = a.cells[index].textContent.trim();
+                            const bValue = b.cells[index].textContent.trim();
+                            
+                            if (isAscending) {
+                                return aValue.localeCompare(bValue);
+                            } else {
+                                return bValue.localeCompare(aValue);
+                            }
+                        });
+                        
+                        // 重新排列行
+                        rows.forEach(row => tbody.appendChild(row));
+                    });
+                    
+                    // 添加排序指示器
+                    header.style.cursor = 'pointer';
+                    header.innerHTML += ' <i class="bi bi-arrow-down-up"></i>';
+                }
+            });
+        });
+    </script>
+</body>
+</html>

public/htmls/AI芯片产业动态.html

@@ -0,0 +1,610 @@
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI芯片产业动态报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+    }
+    .card {
+      background: rgba(30, 41, 59, 0.8);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(100, 116, 139, 0.3);
+    }
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background-color: #3b82f6;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 12px;
+      bottom: 0;
+      width: 1px;
+      background-color: #475569;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    .table-container::-webkit-scrollbar {
+      height: 8px;
+    }
+    .table-container::-webkit-scrollbar-track {
+      background: #1e293b;
+    }
+    .table-container::-webkit-scrollbar-thumb {
+      background: #475569;
+      border-radius: 4px;
+    }
+    .table-container::-webkit-scrollbar-thumb:hover {
+      background: #64748b;
+    }
+    @keyframes pulse {
+      0%, 100% { opacity: 1; }
+      50% { opacity: 0.5; }
+    }
+    .pulse {
+      animation: pulse 2s cubic-bezier(0.4, 0, 0.6, 1) infinite;
+    }
+    .stock-table {
+      border-collapse: separate;
+      border-spacing: 0;
+    }
+    .stock-table th {
+      background: rgba(30, 41, 59, 0.8);
+      position: sticky;
+      top: 0;
+      z-index: 10;
+    }
+    .stock-table tr:hover {
+      background-color: rgba(51, 65, 85, 0.3);
+    }
+  </style>
+</head>
+<body class="min-h-screen p-4 md:p-8">
+  <div class="max-w-7xl mx-auto">
+    <!-- 标题部分 -->
+    <div class="text-center mb-10">
+      <h1 class="text-3xl md:text-4xl font-bold mb-4 gradient-text">AI芯片产业动态报告</h1>
+      <p class="text-slate-400 max-w-3xl mx-auto">政策倒逼+技术突破双轮驱动下，国产AI芯片的渗透率拐点已至</p>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-calendar-alt mr-2 text-blue-500"></i>
+        概念事件
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-blue-400">背景与催化事件</h3>
+        <ul class="space-y-3">
+          <li class="flex items-start">
+            <span class="text-blue-500 mr-2">•</span>
+            <span><strong class="text-purple-400">2024年11月</strong>：美国议员问询五家设备巨头（AMAT、LAM、KLA、ASML、TEL），加剧对华半导体设备出口限制，倒逼国产替代加速。</span>
+          </li>
+          <li class="flex items-start">
+            <span class="text-blue-500 mr-2">•</span>
+            <span><strong class="text-purple-400">2025年3月</strong>：苏州、深圳、河南等地密集出台政策，<strong class="text-green-400">明确2025-2027年AI芯片国产化目标</strong>（如苏州提出"35万标准机架、120EFLOPS算力"）。</span>
+          </li>
+          <li class="flex items-start">
+            <span class="text-blue-500 mr-2">•</span>
+            <span><strong class="text-purple-400">2025年5月</strong>：美国取消拜登政府AI芯片三级出口管制框架，但AMD CEO苏姿丰称"中国仍是巨大机遇"，政策博弈持续。</span>
+          </li>
+          <li class="flex items-start">
+            <span class="text-blue-500 mr-2">•</span>
+            <span><strong class="text-purple-400">技术突破</strong>：DeepSeek-V3/R1模型通过<strong class="text-green-400">MoE架构+FP8混合精度</strong>将训练成本降至<strong class="text-yellow-400">557万美元</strong>（仅为GPT-4的5%），推动国产芯片适配需求。</span>
+          </li>
+        </ul>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-blue-400">时间轴</h3>
+        <div class="relative pl-6">
+          <div class="timeline-line"></div>
+          <div class="space-y-6">
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-purple-400">2024年10月</p>
+                <p class="text-slate-300">美国限制H20芯片出口，国产替代窗口打开</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-purple-400">2024年12月</p>
+                <p class="text-slate-300">日本推出650亿美元芯片/AI补贴计划，全球竞争白热化</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot pulse"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-purple-400">2025年2月</p>
+                <p class="text-slate-300">中昊芯英7nm推理芯片量产（良率98%），绑定DeepSeek生态</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot pulse"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-purple-400">2025年3月</p>
+                <p class="text-slate-300">苏州/深圳政策：要求智算中心国产芯片占比超50%，推动并购整合</p>
+              </div>
+            </div>
+            <div class="relative">
+              <div class="timeline-dot"></div>
+              <div class="ml-4">
+                <p class="font-semibold text-purple-400">2025年5月</p>
+                <p class="text-slate-300">美国放松管制但保留审查，AMD称"中国需求不可替代"</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-lightbulb mr-2 text-yellow-500"></i>
+        核心观点摘要
+      </h2>
+      <div class="space-y-4">
+        <div class="bg-gradient-to-r from-blue-900/30 to-purple-900/30 p-4 rounded-lg border border-blue-500/30">
+          <p class="text-lg font-semibold text-blue-400 mb-2">阶段判断</p>
+          <p class="text-slate-300">AI芯片产业处于<strong class="text-green-400">"政策倒逼+技术突破"双轮驱动的黄金窗口期</strong>，国产替代从"主题炒作"转向<strong class="text-yellow-400">订单兑现阶段</strong>。</p>
+        </div>
+        <div class="bg-gradient-to-r from-purple-900/30 to-pink-900/30 p-4 rounded-lg border border-purple-500/30">
+          <p class="text-lg font-semibold text-purple-400 mb-2">核心驱动力</p>
+          <p class="text-slate-300">美国出口管制持续收紧（H20限制+设备禁运），叠加国内大模型降本（DeepSeek成本仅为GPT-4的5%），<strong class="text-green-400">国产7nm以下推理芯片迎来渗透率拐点</strong>。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-brain mr-2 text-purple-500"></i>
+        核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-400">核心驱动力</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <div class="text-blue-500 text-2xl mb-2">
+              <i class="fas fa-gavel"></i>
+            </div>
+            <p class="font-semibold text-blue-400 mb-2">政策刚性</p>
+            <p class="text-sm text-slate-300">美国2025年新管制将<strong class="text-yellow-400">18个盟友外国家纳入限制范围</strong>，直接卡死英伟达H20对华出口，<strong class="text-green-400">2025年国产芯片替代空间达40%</strong>（2024年仅30%）。</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <div class="text-green-500 text-2xl mb-2">
+              <i class="fas fa-microchip"></i>
+            </div>
+            <p class="font-semibold text-green-400 mb-2">技术降本</p>
+            <p class="text-sm text-slate-300">DeepSeek通过<strong class="text-yellow-400">MoE+FP8</strong>将推理成本降至<strong class="text-green-400">0.013元/千tokens</strong>（GPT-4的5%），<strong class="text-green-400">推动中小客户转向国产芯片</strong>（如中昊芯英7nm芯片成本仅为H20的1/3）。</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <div class="text-purple-500 text-2xl mb-2">
+              <i class="fas fa-chart-line"></i>
+            </div>
+            <p class="font-semibold text-purple-400 mb-2">需求爆发</p>
+            <p class="text-sm text-slate-300">2025年中国AI服务器市场规模<strong class="text-yellow-400">259亿美元</strong>（同比+36%），其中<strong class="text-green-400">推理占比73%</strong>（IDC数据），国产推理芯片需求确定性最强。</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-400">市场热度与情绪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <p class="font-semibold text-blue-400 mb-2">研报密度</p>
+            <p class="text-slate-300">2025年Q1涉及AI芯片的研报<strong class="text-yellow-400">超50篇</strong>（2024年同期仅12篇），<strong class="text-green-400">寒武纪/海光信息被提及频次提升3倍</strong>。</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg">
+            <p class="font-semibold text-blue-400 mb-2">情绪分歧</p>
+            <p class="text-slate-300">路演显示<strong class="text-yellow-400">渠道商认为H20仍可正常销售</strong>（与官方文件矛盾），反映市场对<strong class="text-green-400">政策执行力度存在预期差</strong>。</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-purple-400">预期差分析</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4 text-blue-400">市场共识</th>
+                <th class="text-left py-3 px-4 text-green-400">被忽略的关键点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 text-slate-300">"国产芯片性能落后"</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-yellow-400">华为昇腾910C性能已达H100的80%</strong>（FP16算力780TFLOPS），且<strong class="text-green-400">CloudMatrix 384超节点已商用</strong></td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 text-slate-300">"生态是最大短板"</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-yellow-400">海光DTK平台兼容CUDA</strong>（ROCm封装），<strong class="text-green-400">迁移成本低于预期</strong>（百度已验证）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-slate-300">"7nm产能不足"</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-yellow-400">中芯国际N+2工艺良率超90%</strong>（华为昇腾910B量产验证），<strong class="text-green-400">2025年产能规划翻倍</strong></td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-rocket mr-2 text-red-500"></i>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-red-400">近期催化剂（3-6个月）</h3>
+        <div class="space-y-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-red-500">
+            <p class="font-semibold text-red-400 mb-2">1. 政策落地</p>
+            <p class="text-slate-300">2025年6月美国对华AI芯片<strong class="text-yellow-400">新一轮管制清单</strong>（可能纳入更多国产替代标的）。</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-orange-500">
+            <p class="font-semibold text-orange-400 mb-2">2. 订单验证</p>
+            <ul class="space-y-2 text-slate-300 ml-4">
+              <li>• <strong class="text-yellow-400">字节跳动追加32万张H20订单</strong>（已交付15万张），<strong class="text-green-400">若转向国产芯片将直接催化寒武纪/海光信息</strong>。</li>
+              <li>• <strong class="text-yellow-400">中国移动2025年AI服务器集采</strong>（预计7月启动），<strong class="text-green-400">国产芯片份额或从67%提升至80%</strong>。</li>
+            </ul>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-yellow-500">
+            <p class="font-semibold text-yellow-400 mb-2">3. 技术里程碑</p>
+            <p class="text-slate-300"><strong class="text-yellow-400">寒武纪思元590量产</strong>（2025年Q2），<strong class="text-green-400">性能对标A100且功耗降低30%</strong>。</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-green-400">长期路径（2025-2027）</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="text-3xl text-green-500 mb-2">2025</div>
+            <p class="text-slate-300">国产芯片在<strong class="text-yellow-400">推理场景</strong>渗透率突破50%（当前30%）</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="text-3xl text-blue-500 mb-2">2026</div>
+            <p class="text-slate-300"><strong class="text-yellow-400">Chiplet+先进封装</strong>（通富微电CoWoS量产）解决7nm产能瓶颈</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg text-center">
+            <div class="text-3xl text-purple-500 mb-2">2027</div>
+            <p class="text-slate-300"><strong class="text-yellow-400">端侧AI芯片</strong>（AI眼镜/PC）成为新增长极，<strong class="text-green-400">市场规模超百亿元</strong></p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-sitemap mr-2 text-indigo-500"></i>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-indigo-400">产业链图谱</h3>
+        <div class="bg-slate-800/50 p-6 rounded-lg">
+          <div class="flex flex-col md:flex-row justify-between items-center space-y-4 md:space-y-0">
+            <div class="text-center">
+              <div class="bg-blue-900/50 text-blue-400 px-4 py-2 rounded-lg mb-2">上游</div>
+              <p class="text-sm text-slate-300">设备/材料<br>（中芯国际N+2工艺、通富微电CoWoS）</p>
+            </div>
+            <div class="text-2xl text-slate-500">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="bg-purple-900/50 text-purple-400 px-4 py-2 rounded-lg mb-2">中游</div>
+              <p class="text-sm text-slate-300">芯片设计<br>（华为昇腾、寒武纪、海光信息）</p>
+            </div>
+            <div class="text-2xl text-slate-500">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="bg-green-900/50 text-green-400 px-4 py-2 rounded-lg mb-2">下游</div>
+              <p class="text-sm text-slate-300">应用<br>（字节跳动、中国移动智算中心）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-indigo-400">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4 text-blue-400">公司</th>
+                <th class="text-left py-3 px-4 text-purple-400">技术路线</th>
+                <th class="text-left py-3 px-4 text-green-400">订单进展</th>
+                <th class="text-left py-3 px-4 text-red-400">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-yellow-400">寒武纪</td>
+                <td class="py-3 px-4 text-slate-300">云端训练+推理</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-green-400">思元590已适配DeepSeek</strong>（20万片订单）</td>
+                <td class="py-3 px-4 text-slate-300">客户集中度高（字节占60%）</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-yellow-400">海光信息</td>
+                <td class="py-3 px-4 text-slate-300">类CUDA生态</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-green-400">百度万卡集群已部署深算三号</strong></td>
+                <td class="py-3 px-4 text-slate-300">依赖AMD授权</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-semibold text-yellow-400">华为昇腾</td>
+                <td class="py-3 px-4 text-slate-300">全栈自研</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-green-400">CloudMatrix 384超节点商用</strong></td>
+                <td class="py-3 px-4 text-slate-300">受美国制裁影响供应链</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-yellow-400">通富微电</td>
+                <td class="py-3 px-4 text-slate-300">CoWoS封装</td>
+                <td class="py-3 px-4 text-slate-300"><strong class="text-green-400">承接寒武纪/海光3D封装订单</strong></td>
+                <td class="py-3 px-4 text-slate-300">AMD主业占比过高（50%）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-2 text-amber-500"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="space-y-4">
+        <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-amber-500">
+          <p class="font-semibold text-amber-400 mb-2">技术风险</p>
+          <p class="text-slate-300"><strong class="text-yellow-400">7nm以下工艺良率</strong>：中芯国际N+2工艺虽量产，但<strong class="text-red-400">HBM3内存仍需外购</strong>（SK海力士垄断）。</p>
+        </div>
+        <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-orange-500">
+          <p class="font-semibold text-orange-400 mb-2">商业化风险</p>
+          <p class="text-slate-300"><strong class="text-yellow-400">成本倒挂</strong>：国产芯片单价虽低（6万元 vs H20的20万元），但<strong class="text-red-400">集群部署TCO仍高30%</strong>（功耗/散热成本）。</p>
+        </div>
+        <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-red-500">
+          <p class="font-semibold text-red-400 mb-2">政策风险</p>
+          <p class="text-slate-300"><strong class="text-yellow-400">美国"长臂管辖"</strong>：若扩大至<strong class="text-red-400">EDA工具禁运</strong>（Synopsys/Cadence），国产设计工具<strong class="text-red-400">成熟度不足</strong>（验证周期延长6-12个月）。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card rounded-xl p-6 mb-8">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-trophy mr-2 text-yellow-500"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <div class="bg-gradient-to-r from-yellow-900/30 to-amber-900/30 p-6 rounded-lg border border-yellow-500/30">
+          <p class="font-semibold text-yellow-400 mb-2">阶段判断</p>
+          <p class="text-lg text-slate-300">产业从<strong class="text-yellow-400">"政策主题"</strong>进入<strong class="text-green-400">"订单兑现"</strong>阶段，<strong class="text-purple-400">2025年Q2-Q3为关键验证期</strong>。</p>
+        </div>
+      </div>
+
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-yellow-400">最具价值方向</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-blue-500">
+            <p class="font-semibold text-blue-400 mb-2">推理芯片（寒武纪思元590）</p>
+            <p class="text-slate-300"><strong class="text-green-400">需求确定性最强</strong>（2025年推理占比73%）</p>
+          </div>
+          <div class="bg-slate-800/50 p-4 rounded-lg border-l-4 border-purple-500">
+            <p class="font-semibold text-purple-400 mb-2">先进封装（通富微电）</p>
+            <p class="text-slate-300"><strong class="text-green-400">技术壁垒高+国产替代唯一性</strong>（CoWoS产能缺口50%）</p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-yellow-400">跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-center">
+            <div class="w-2 h-2 bg-blue-500 rounded-full mr-3"></div>
+            <p class="text-slate-300"><strong class="text-yellow-400">字节跳动国产芯片采购量</strong>（当前15万张 vs 目标32万张）</p>
+          </div>
+          <div class="flex items-center">
+            <div class="w-2 h-2 bg-purple-500 rounded-full mr-3"></div>
+            <p class="text-slate-300"><strong class="text-yellow-400">中国移动集采国产份额</strong>（2025年7月招标）</p>
+          </div>
+        </div>
+      </div>
+
+      <div class="mt-6 p-4 bg-gradient-to-r from-blue-900/30 to-purple-900/30 rounded-lg border border-blue-500/30">
+        <p class="text-center text-lg font-semibold gradient-text">"政策卡脖子+技术降本"双轮驱动下，国产AI芯片的渗透率拐点已至，但需紧盯订单落地与工艺良率两大核心变量。</p>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="card rounded-xl p-6">
+      <h2 class="text-xl font-bold mb-4 flex items-center">
+        <i class="fas fa-chart-line mr-2 text-green-500"></i>
+        关联股票数据
+      </h2>
+      
+      <div id="stockData" class="space-y-8">
+        <!-- 股票数据将通过JavaScript动态生成 -->
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 股票数据
+    const stockData = [
+      {
+        'AI算力芯片（240610）': [
+          {'stock': '景嘉微', '行业': 'GPU', '项目': '国产GPU龙头', 'reason': '自主研发GPU芯片，国产GPU领域领先企业'},
+          {'stock': '寒武纪', '行业': 'GPU', '项目': '领先AI芯片设计公司', 'reason': '专注于AI芯片设计，GPU领域技术领先'},
+          {'stock': '海光信息', '行业': 'GPU', '项目': '国产CPU+GPU龙头', 'reason': '自主研发CPU和GPU芯片，国产化核心企业'},
+          {'stock': '龙芯中科', '行业': 'GPU', '项目': '自主研发GPU', 'reason': '自主研发GPU技术，国产芯片重要参与者'},
+          {'stock': '紫光国微', '行业': 'FPGA', '项目': '已突破FPGA高制程技术', 'reason': '在FPGA高制程技术领域取得突破性进展'},
+          {'stock': '复旦微电', '行业': 'FPGA', '项目': '国产FPGA头部厂商', 'reason': '国内FPGA芯片研发和生产的头部企业'},
+          {'stock': '安路科技', '行业': 'FPGA', '项目': '国内民用FPGA', 'reason': '专注于民用FPGA芯片的研发和应用'},
+          {'stock': '寒武纪', '行业': 'ASIC', '项目': '思元芯片', 'reason': 'ASIC芯片领域代表产品为思元系列芯片'},
+          {'stock': '澜起科技', '行业': 'ASIC', '项目': '计算类芯片集成', 'reason': '专注于计算类芯片集成技术，ASIC领域重要企业'},
+          {'stock': '紫光股份', '行业': 'ASIC', '项目': '自研芯片', 'reason': '自主研发ASIC芯片，推动国产化替代'},
+          {'stock': '华为海思', '行业': 'ASIC', '项目': '自研芯片', 'reason': '华为旗下芯片设计公司，自主研发ASIC芯片'}
+        ]
+      },
+      {
+        '半导体产业链（240610）': [
+          {'stock': '立昂微', '行业': '半导体材料', '项目': '硅片', '分类': '上游', 'reason': '半导体硅片制造'},
+          {'stock': '沪硅产业', '行业': '半导体材料', '项目': '硅片', '分类': '上游', 'reason': '半导体硅片生产'},
+          {'stock': 'TCL中环', '行业': '半导体材料', '项目': '硅片', '分类': '上游', 'reason': '半导体硅片制造'},
+          {'stock': '晶盛机电', '行业': '半导体设备', '项目': '单晶炉', '分类': '上游', 'reason': '半导体单晶炉设备制造'},
+          {'stock': '北方华创', '行业': '半导体设备', '项目': '清洗设备/氧化炉/PVD/刻蚀设备', '分类': '上游', 'reason': '半导体设备全产业链覆盖'},
+          {'stock': '中芯国际', '行业': '芯片设计制造', '项目': '晶圆制造', '分类': '中游', 'reason': '国内领先晶圆代工厂'},
+          {'stock': '韦尔股份', '行业': '芯片设计', '项目': '图像传感器', '分类': '中游', 'reason': 'CIS芯片设计龙头'},
+          {'stock': '华为', '行业': '终端应用', '项目': '消费电子', '分类': '下游', 'reason': '智能手机/5G设备制造商'}
+        ]
+      }
+    ];
+
+    // 字段映射表，用于显示中文标题
+    const fieldMappings = {
+      'stock': '股票名称',
+      '行业': '行业',
+      '项目': '项目',
+      'reason': '投资逻辑',
+      '分类': '产业链位置'
+    };
+
+    // 渲染股票数据
+    function renderStockData() {
+      const container = document.getElementById('stockData');
+      container.innerHTML = ''; // 清空现有内容
+      
+      try {
+        stockData.forEach((category, categoryIndex) => {
+          const categoryName = Object.keys(category)[0];
+          const stocks = category[categoryName];
+          
+          // 创建类别容器
+          const categoryDiv = document.createElement('div');
+          categoryDiv.className = 'mb-8';
+          
+          // 创建类别标题
+          const categoryTitle = document.createElement('h3');
+          categoryTitle.className = 'text-lg font-semibold mb-4 text-blue-400 flex items-center';
+          categoryTitle.innerHTML = `<i class="fas fa-table mr-2"></i>${categoryName}`;
+          categoryDiv.appendChild(categoryTitle);
+          
+          // 创建表格容器
+          const tableContainer = document.createElement('div');
+          tableContainer.className = 'table-container bg-slate-800/30 rounded-lg p-1';
+          
+          // 创建表格
+          const table = document.createElement('table');
+          table.className = 'stock-table w-full text-sm';
+          
+          // 获取所有字段（除了stock）
+          const allFields = ['stock']; // 先添加股票名称
+          const otherFields = new Set();
+          stocks.forEach(stock => {
+            Object.keys(stock).forEach(key => {
+              if (key !== 'stock') otherFields.add(key);
+            });
+          });
+          allFields.push(...Array.from(otherFields));
+          
+          // 创建表头
+          const thead = document.createElement('thead');
+          const headerRow = document.createElement('tr');
+          headerRow.className = 'border-b border-slate-600';
+          
+          allFields.forEach((field, index) => {
+            const th = document.createElement('th');
+            th.className = `text-left py-3 px-4 font-semibold ${index === 0 ? 'text-yellow-400' : 'text-purple-400'}`;
+            th.textContent = fieldMappings[field] || field;
+            headerRow.appendChild(th);
+          });
+          
+          thead.appendChild(headerRow);
+          table.appendChild(thead);
+          
+          // 创建表体
+          const tbody = document.createElement('tbody');
+          
+          stocks.forEach((stock, stockIndex) => {
+            const row = document.createElement('tr');
+            row.className = `border-b border-slate-700 hover:bg-slate-700/30 transition-colors duration-200 ${stockIndex === stocks.length - 1 ? 'border-b-0' : ''}`;
+            
+            allFields.forEach((field, fieldIndex) => {
+              const cell = document.createElement('td');
+              cell.className = `py-3 px-4 ${fieldIndex === 0 ? 'font-semibold text-yellow-400' : 'text-slate-300'}`;
+              const value = stock[field] || '-';
+              cell.textContent = value;
+              
+              // 为投资逻辑字段添加特殊样式
+              if (field === 'reason' && value !== '-') {
+                cell.className += ' text-sm leading-relaxed';
+              }
+              
+              row.appendChild(cell);
+            });
+            
+            tbody.appendChild(row);
+          });
+          
+          table.appendChild(tbody);
+          tableContainer.appendChild(table);
+          categoryDiv.appendChild(tableContainer);
+          container.appendChild(categoryDiv);
+        });
+        
+        // 添加加载成功提示
+        console.log('股票数据渲染成功');
+        
+      } catch (error) {
+        console.error('渲染股票数据时出错:', error);
+        container.innerHTML = '<div class="text-red-400 p-4">股票数据加载失败，请刷新页面重试。</div>';
+      }
+    }
+    
+    // 页面加载完成后渲染股票数据
+    if (document.readyState === 'loading') {
+      document.addEventListener('DOMContentLoaded', renderStockData);
+    } else {
+      renderStockData();
+    }
+    
+    // 备用方案：延迟渲染
+    setTimeout(renderStockData, 100);
+  </script>
+</body>
+</html>

public/htmls/AI芯片基建链.html

@@ -0,0 +1,944 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI芯片基建链 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
+  <link href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css" rel="stylesheet">
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+      min-height: 100vh;
+    }
+    .section-card {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(148, 163, 184, 0.1);
+    }
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background: #3b82f6;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    .timeline-line {
+      width: 1px;
+      background: #334155;
+      position: absolute;
+      left: 0;
+      top: 12px;
+      bottom: 0;
+    }
+    .highlight {
+      color: #60a5fa;
+      font-weight: 600;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    .table-container::-webkit-scrollbar {
+      height: 8px;
+    }
+    .table-container::-webkit-scrollbar-track {
+      background: #1e293b;
+    }
+    .table-container::-webkit-scrollbar-thumb {
+      background: #475569;
+      border-radius: 4px;
+    }
+    .mermaid-container {
+      background: rgba(15, 23, 42, 0.5);
+      border-radius: 8px;
+      padding: 16px;
+      margin: 16px 0;
+    }
+    .quote-block {
+      border-left: 4px solid #3b82f6;
+      padding-left: 16px;
+      margin: 16px 0;
+    }
+    .tag {
+      display: inline-block;
+      padding: 4px 12px;
+      border-radius: 9999px;
+      background: rgba(59, 130, 246, 0.2);
+      color: #93c5fd;
+      font-size: 12px;
+      font-weight: 500;
+      margin-right: 8px;
+      margin-bottom: 8px;
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 bg-gradient-to-r from-blue-400 to-cyan-400 bg-clip-text text-transparent">
+        AI芯片基建链
+      </h1>
+      <p class="text-lg text-slate-300 max-w-3xl mx-auto">
+        从主题炒作到基本面驱动，全球算力军备竞赛下的产业链投资机会分析
+      </p>
+      <div class="mt-6 flex justify-center space-x-2">
+        <span class="tag"><i class="fas fa-microchip mr-1"></i> AI芯片</span>
+        <span class="tag"><i class="fas fa-server mr-1"></i> 算力基建</span>
+        <span class="tag"><i class="fas fa-chart-line mr-1"></i> 投资机会</span>
+      </div>
+    </div>
+
+    <!-- 概念事件部分 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-calendar-alt text-blue-400 mr-3"></i>
+        概念事件时间轴
+      </h2>
+      
+      <div class="space-y-6">
+        <div class="relative pl-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="mb-6">
+            <h3 class="text-lg font-semibold text-blue-300">2024Q4-2025Q1</h3>
+            <p class="text-slate-300">
+              北美"星际之门"项目启动（年化Capex <span class="highlight">1250亿美元</span>），微软/Oracle/字节跳动等巨头宣布<span class="highlight">3-5年AI基建投资计划</span>（阿里3800亿元、字节1600亿元）。
+            </p>
+          </div>
+        </div>
+        
+        <div class="relative pl-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="mb-6">
+            <h3 class="text-lg font-semibold text-blue-300">2025年1月</h3>
+            <p class="text-slate-300">
+              美国解除H20对华销售禁令，英伟达CEO黄仁勋确认"<span class="highlight">国内AI基建链拐点到来</span>"。
+            </p>
+          </div>
+        </div>
+        
+        <div class="relative pl-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="mb-6">
+            <h3 class="text-lg font-semibold text-blue-300">2025年2月</h3>
+            <p class="text-slate-300">
+              DeepSeek-R1发布，其"测试时间缩放"技术引发市场对<span class="highlight">推理算力需求</span>的重新评估（花旗：推理阶段将推动GPU/ASIC/DCI需求，利空Retimers/光模块）。
+            </p>
+          </div>
+        </div>
+        
+        <div class="relative pl-8">
+          <div class="timeline-dot"></div>
+          <div>
+            <h3 class="text-lg font-semibold text-blue-300">2025年3月</h3>
+            <p class="text-slate-300">
+              国务院国资委推动央企"AI+"行动，上海/深圳/河南等地密集出台<span class="highlight">算力基建补贴政策</span>（如河南"一核四极多点"布局，2026年目标算力<span class="highlight">120 EFLOPS</span>）。
+            </p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-lightbulb text-yellow-400 mr-3"></i>
+        核心观点摘要
+      </h2>
+      
+      <div class="grid md:grid-cols-3 gap-6">
+        <div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
+          <h3 class="text-lg font-semibold text-cyan-300 mb-3">阶段判断</h3>
+          <p class="text-slate-300">
+            AI芯片基建链已从"主题炒作"进入<span class="highlight">基本面驱动阶段</span>，核心矛盾从"有没有"转向"够不够快"。
+          </p>
+        </div>
+        
+        <div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
+          <h3 class="text-lg font-semibold text-cyan-300 mb-3">核心驱动力</h3>
+          <p class="text-slate-300">
+            <span class="highlight">全球算力军备竞赛</span>（北美+中国双轮驱动）叠加<span class="highlight">技术路线切换</span>（训练→推理，GPU→ASIC），推动产业链从"卖铲子"到"卖解决方案"升级。
+          </p>
+        </div>
+        
+        <div class="bg-slate-800/50 rounded-lg p-5 border border-slate-700/50">
+          <h3 class="text-lg font-semibold text-cyan-300 mb-3">未来潜力</h3>
+          <p class="text-slate-300">
+            2025-2027年或迎来<span class="highlight">第二轮基建高峰</span>，推理算力需求可能<span class="highlight">10倍于训练</span>（豆包日均调用量<span class="highlight">16.4万亿token</span>，同比增<span class="highlight">136倍</span>）。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-brain text-purple-400 mr-3"></i>
+        核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-purple-300 mb-4">核心驱动力</h3>
+        
+        <div class="grid md:grid-cols-3 gap-6 mb-6">
+          <div class="bg-slate-800/30 rounded-lg p-5">
+            <h4 class="text-lg font-semibold text-blue-300 mb-3 flex items-center">
+              <i class="fas fa-globe-americas mr-2"></i> 需求端
+            </h4>
+            <ul class="space-y-2 text-slate-300">
+              <li><span class="text-blue-300 font-medium">北美</span>：微软800亿美元/年、Oracle 5000亿美元规划，软银等产业资本入场。</li>
+              <li><span class="text-blue-300 font-medium">中国</span>：字节1600亿元（2025年）、阿里3800亿元（3年）、三大运营商<span class="highlight">智算投资占比超50%</span>。</li>
+            </ul>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-5">
+            <h4 class="text-lg font-semibold text-green-300 mb-3 flex items-center">
+              <i class="fas fa-microchip mr-2"></i> 技术端
+            </h4>
+            <ul class="space-y-2 text-slate-300">
+              <li><span class="text-green-300 font-medium">DeepSeek效应</span>：推理算力成本下降<span class="highlight">80%</span>（R1模型），推动<span class="highlight">边缘AI爆发</span>（AI手机/PC/眼镜）。</li>
+              <li><span class="text-green-300 font-medium">制程瓶颈</span>：台积电3nm产能满载（苹果/英伟达占<span class="highlight">98%</span>），国产7nm以下仍受限。</li>
+            </ul>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-5">
+            <h4 class="text-lg font-semibold text-yellow-300 mb-3 flex items-center">
+              <i class="fas fa-landmark mr-2"></i> 政策端
+            </h4>
+            <ul class="space-y-2 text-slate-300">
+              <li>中国专项债可覆盖<span class="highlight">数据中心/云计算</span>资本金（2024年12月国办文件）。</li>
+              <li>国资考核<span class="highlight">"包容硬科技"</span>。</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-purple-300 mb-4">市场热度与情绪</h3>
+        
+        <div class="grid md:grid-cols-2 gap-6">
+          <div class="bg-slate-800/30 rounded-lg p-5">
+            <h4 class="text-lg font-semibold text-cyan-300 mb-3">研报密度</h4>
+            <p class="text-slate-300">
+              2025年1-3月相关研报<span class="highlight">超50篇</span>（国君/东吴/华泰等），关键词从"训练"转向"推理"。
+            </p>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-5">
+            <h4 class="text-lg font-semibold text-cyan-300 mb-3">情绪分化</h4>
+            <div class="space-y-3">
+              <div class="flex items-start">
+                <i class="fas fa-arrow-up text-green-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-green-300 font-medium">乐观</span>：国资IDC（云赛智联）、液冷（英维克）订单<span class="highlight">已落地</span>（海南华铁等）。
+                </div>
+              </div>
+              <div class="flex items-start">
+                <i class="fas fa-arrow-down text-red-400 mt-1 mr-2"></i>
+                <div>
+                  <span class="text-red-300 font-medium">谨慎</span>：光模块（中际旭创）因DeepSeek利空预期<span class="highlight">回调20%</span>。
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-purple-300 mb-4">预期差分析</h3>
+        
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">市场共识</th>
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">被忽略的关键点</th>
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">数据来源</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 text-slate-300">"训练算力已过剩"</td>
+                <td class="py-3 px-4 text-slate-300"><span class="highlight">推理算力缺口</span>：豆包调用量<span class="highlight">136倍</span>增长</td>
+                <td class="py-3 px-4 text-slate-300">兴证路演（2025年6月）</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 text-slate-300">"国产GPU无法替代"</td>
+                <td class="py-3 px-4 text-slate-300"><span class="highlight">ASIC弯道超车</span>：华为昇腾910B已<span class="highlight">对标A100</span></td>
+                <td class="py-3 px-4 text-slate-300">方正路演（2025年2月）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-slate-300">"光模块需求下降"</td>
+                <td class="py-3 px-4 text-slate-300"><span class="highlight">800G/1.6T升级</span>：Meta/字节<span class="highlight">2025年招标</span></td>
+                <td class="py-3 px-4 text-slate-300">华泰研报（2025年3月）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-rocket text-red-400 mr-3"></i>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-red-300 mb-4">近期催化剂（3-6个月）</h3>
+        
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="bg-slate-800/30 rounded-lg p-4 border-l-4 border-red-400">
+            <h4 class="font-semibold text-red-300 mb-2">英伟达GTC大会</h4>
+            <p class="text-sm text-slate-300">2025年3月：或发布<span class="highlight">GB300</span>（12层HBM4，4GPU封装）。</p>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-4 border-l-4 border-red-400">
+            <h4 class="font-semibold text-red-300 mb-2">国内算力招标</h4>
+            <p class="text-sm text-slate-300">中国移动<span class="highlight">490天骨干网建设</span>启动（烽火通信/光迅科技）。</p>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-4 border-l-4 border-red-400">
+            <h4 class="font-semibold text-red-300 mb-2">政策落地</h4>
+            <p class="text-sm text-slate-300">河南/上海<span class="highlight">算力补贴细则</span>（仕佳光子已获<span class="highlight">1亿颗DFB芯片订单</span>）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-red-300 mb-4">长期路径（2025-2027）</h3>
+        
+        <div class="mermaid-container">
+          <div class="flex flex-col md:flex-row items-center justify-between space-y-4 md:space-y-0">
+            <div class="bg-blue-900/50 rounded-lg p-4 text-center flex-1 mx-2">
+              <div class="text-blue-300 font-semibold">训练算力饱和</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-purple-900/50 rounded-lg p-4 text-center flex-1 mx-2">
+              <div class="text-purple-300 font-semibold">推理算力爆发</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-green-900/50 rounded-lg p-4 text-center flex-1 mx-2">
+              <div class="text-green-300 font-semibold">ASIC渗透率>50%</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-yellow-900/50 rounded-lg p-4 text-center flex-1 mx-2">
+              <div class="text-yellow-300 font-semibold">Chiplet+先进封装普及</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-red-900/50 rounded-lg p-4 text-center flex-1 mx-2">
+              <div class="text-red-300 font-semibold">国产7nm量产</div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-sitemap text-green-400 mr-3"></i>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-green-300 mb-4">产业链图谱</h3>
+        
+        <div class="mermaid-container">
+          <div class="flex flex-col md:flex-row items-center justify-center space-y-4 md:space-y-0 md:space-x-8">
+            <div class="bg-blue-900/50 rounded-lg p-4 text-center w-32">
+              <div class="text-blue-300 font-semibold">上游</div>
+              <div class="text-sm text-slate-300 mt-2">硅片/光刻机</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-purple-900/50 rounded-lg p-4 text-center w-32">
+              <div class="text-purple-300 font-semibold">中游</div>
+              <div class="text-sm text-slate-300 mt-2">芯片设计/代工</div>
+            </div>
+            <div class="text-2xl text-slate-400">→</div>
+            <div class="bg-green-900/50 rounded-lg p-4 text-center w-32">
+              <div class="text-green-300 font-semibold">下游</div>
+              <div class="text-sm text-slate-300 mt-2">服务器/IDC</div>
+            </div>
+          </div>
+          <div class="flex justify-center mt-4">
+            <div class="text-2xl text-slate-400">↓</div>
+          </div>
+          <div class="flex justify-center">
+            <div class="bg-yellow-900/50 rounded-lg p-4 text-center w-40">
+              <div class="text-yellow-300 font-semibold">配套</div>
+              <div class="text-sm text-slate-300 mt-2">液冷/电源/光模块</div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-green-300 mb-4">核心玩家对比</h3>
+        
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">公司</th>
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">环节</th>
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">竞争优势</th>
+                <th class="text-left py-3 px-4 text-slate-300 font-medium">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">寒武纪</td>
+                <td class="py-3 px-4 text-slate-300">芯片设计</td>
+                <td class="py-3 px-4 text-slate-300">思元590<span class="highlight">对标A100</span>，已获<span class="highlight">政府订单</span></td>
+                <td class="py-3 px-4 text-slate-300">生态适配慢于预期</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">中芯国际</td>
+                <td class="py-3 px-4 text-slate-300">代工</td>
+                <td class="py-3 px-4 text-slate-300">14nm量产，<span class="highlight">7nm研发中</span></td>
+                <td class="py-3 px-4 text-slate-300">美国设备限制</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">云赛智联</td>
+                <td class="py-3 px-4 text-slate-300">IDC</td>
+                <td class="py-3 px-4 text-slate-300"><span class="highlight">上海国资+土地指标</span>，绑定阿里</td>
+                <td class="py-3 px-4 text-slate-300">能耗指标收紧</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">英维克</td>
+                <td class="py-3 px-4 text-slate-300">液冷</td>
+                <td class="py-3 px-4 text-slate-300">字节<span class="highlight">70%液冷份额</span>，订单<span class="highlight">已落地</span></td>
+                <td class="py-3 px-4 text-slate-300">技术路线（冷板vs浸没）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-blue-300">光迅科技</td>
+                <td class="py-3 px-4 text-slate-300">光模块</td>
+                <td class="py-3 px-4 text-slate-300">800G<span class="highlight">国内首家量产</span>，Meta供应链</td>
+                <td class="py-3 px-4 text-slate-300">价格战（毛利率<30%）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div class="mt-6">
+        <h3 class="text-xl font-semibold text-green-300 mb-4">验证与证伪</h3>
+        
+        <div class="quote-block">
+          <p class="text-slate-300">
+            <span class="text-red-300 font-medium">证伪案例</span>：某研报称"光模块需求下降"，但<span class="highlight">字节2025年招标800G模块</span>（华泰3月报告）→ <span class="highlight">预期差机会</span>。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle text-orange-400 mr-3"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid md:grid-cols-2 gap-6">
+        <div class="bg-slate-800/30 rounded-lg p-5">
+          <h3 class="text-lg font-semibold text-orange-300 mb-3 flex items-center">
+            <i class="fas fa-microchip mr-2"></i> 技术风险
+          </h3>
+          <ul class="space-y-2 text-slate-300">
+            <li><span class="text-orange-300 font-medium">国产7nm良率</span>（中芯国际2025年目标<span class="highlight"><50%</span>）。</li>
+            <li><span class="text-orange-300 font-medium">HBM产能</span>（美光2025年HBM产能<span class="highlight">仅满足30%需求</span>）。</li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800/30 rounded-lg p-5">
+          <h3 class="text-lg font-semibold text-orange-300 mb-3 flex items-center">
+            <i class="fas fa-coins mr-2"></i> 商业化风险
+          </h3>
+          <ul class="space-y-2 text-slate-300">
+            <li><span class="text-orange-300 font-medium">推理算力ROI</span>：DeepSeek虽降本，但<span class="highlight">边缘场景付费意愿低</span>（路演反馈）。</li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800/30 rounded-lg p-5">
+          <h3 class="text-lg font-semibold text-orange-300 mb-3 flex items-center">
+            <i class="fas fa-gavel mr-2"></i> 政策风险
+          </h3>
+          <ul class="space-y-2 text-slate-300">
+            <li><span class="text-orange-300 font-medium">美国新一轮制裁</span>（2025年1月新增25家中国实体）。</li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800/30 rounded-lg p-5">
+          <h3 class="text-lg font-semibold text-orange-300 mb-3 flex items-center">
+            <i class="fas fa-balance-scale mr-2"></i> 信息矛盾
+          </h3>
+          <ul class="space-y-2 text-slate-300">
+            <li><span class="text-orange-300 font-medium">花旗</span>认为光模块"中性到消极"，但<span class="text-orange-300 font-medium">华泰</span>指出800G需求<span class="highlight">翻倍</span>→ <span class="highlight">需跟踪Meta/字节招标数据</span>。</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-pie text-cyan-400 mr-3"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-cyan-300 mb-3">阶段判断</h3>
+        <p class="text-slate-300">
+          <span class="highlight">基本面驱动初期</span>，2025Q2-Q3或迎<span class="highlight">业绩验证期</span>（字节/阿里Capex落地）。
+        </p>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-cyan-300 mb-3">高价值方向</h3>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="bg-slate-800/30 rounded-lg p-4">
+            <h4 class="font-semibold text-blue-300 mb-2">1. 推理算力基建</h4>
+            <ul class="space-y-1 text-slate-300 text-sm">
+              <li>• ASIC（寒武纪）</li>
+              <li>• 液冷（英维克）</li>
+              <li>• 国资IDC（云赛智联）</li>
+            </ul>
+          </div>
+          
+          <div class="bg-slate-800/30 rounded-lg p-4">
+            <h4 class="font-semibold text-green-300 mb-2">2. 国产替代</h4>
+            <ul class="space-y-1 text-slate-300 text-sm">
+              <li>• 7nm代工（中芯国际）</li>
+              <li>• HBM材料（壹石通）</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-cyan-300 mb-3">关键跟踪指标</h3>
+        <ul class="space-y-2 text-slate-300">
+          <li><span class="text-cyan-300 font-medium">订单数据</span>：字节液冷招标规模（预计<span class="highlight">3GW</span>，2025年）。</li>
+          <li><span class="text-cyan-300 font-medium">产能利用率</span>：台积电3nm<span class="highlight">>95%</span>（验证需求真实性）。</li>
+          <li><span class="text-cyan-300 font-medium">政策信号</span>：美国对华AI设备出口<span class="highlight">许可证发放节奏</span>。</li>
+        </ul>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-table text-indigo-400 mr-3"></i>
+        关联股票数据
+      </h2>
+      
+      <div class="space-y-8">
+        <!-- 柴油发电机股票 -->
+        <div>
+          <h3 class="text-xl font-semibold text-indigo-300 mb-4">柴油发电机相关股票</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">股票名称</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">分类</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">项目/产品</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">行业/应用</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">其他信息</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">信源</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">泰豪科技</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年应急电源营收28.67亿</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心、通信及数据中心行业</td>
+                  <td class="py-3 px-4 text-slate-300">1-10000KW智能柴（重）油发电机组</td>
+                  <td class="py-3 px-4 text-slate-300">年报/互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">潍柴重机</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年发电机营收15.06亿</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心领域</td>
+                  <td class="py-3 px-4 text-slate-300">销量及收入显著增长</td>
+                  <td class="py-3 px-4 text-slate-300">年报</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">科泰电源</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年柴油发电机营收11.72亿</td>
+                  <td class="py-3 px-4 text-slate-300">通信及数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">行业交付约10.2亿</td>
+                  <td class="py-3 px-4 text-slate-300">年报/调研</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">神驰机电</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年电机类营收4.36亿</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机组</td>
+                  <td class="py-3 px-4 text-slate-300">年报/互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">中电电机</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年发电机营收1.96亿</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">年报</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">华丰股份</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年柴油发电/电机营收1.27亿</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">智能化发电机组</td>
+                  <td class="py-3 px-4 text-slate-300">年报/互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">苏美达</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">2024年柴油发电机利润总额9083万元</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">多个数据中心提供产品</td>
+                  <td class="py-3 px-4 text-slate-300">调研/互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">金通灵</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机组</td>
+                  <td class="py-3 px-4 text-slate-300">半年报</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">动力新科</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">已开发12VK柴油机产品</td>
+                  <td class="py-3 px-4 text-slate-300">数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">汇金股份</td>
+                  <td class="py-3 px-4 text-slate-300">代理</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">卡特柴油发电机、华为UPS、空调、机柜等</td>
+                  <td class="py-3 px-4 text-slate-300">半年报</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">神力股份</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">电机（电动机和发电机）定子、转子芯片和铁芯</td>
+                  <td class="py-3 px-4 text-slate-300">年报</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">长源东谷</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">与金创公司设立玉柴长源科技</td>
+                  <td class="py-3 px-4 text-slate-300">广西玉柴</td>
+                  <td class="py-3 px-4 text-slate-300">VC气缸体等加工业务</td>
+                  <td class="py-3 px-4 text-slate-300">互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">申科股份</td>
+                  <td class="py-3 px-4 text-slate-300">零部件</td>
+                  <td class="py-3 px-4 text-slate-300">定制化轴承解决方案</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">国内柴油发电机厂商</td>
+                  <td class="py-3 px-4 text-slate-300">网传</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">美心翼申</td>
+                  <td class="py-3 px-4 text-slate-300">北交所</td>
+                  <td class="py-3 px-4 text-slate-300">2024年压缩机曲轴、通机曲轴收入1.82亿、1.74亿</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机主轴件（曲轴）</td>
+                  <td class="py-3 px-4 text-slate-300">公开资料</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 font-medium text-blue-300">华原股份</td>
+                  <td class="py-3 px-4 text-slate-300">北交所</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">柴油发电机</td>
+                  <td class="py-3 px-4 text-slate-300">控股股东：玉柴集团，产品：柴油滤清器，客户：玉柴股份</td>
+                  <td class="py-3 px-4 text-slate-300">公告</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 英伟达H20股票 -->
+        <div>
+          <h3 class="text-xl font-semibold text-indigo-300 mb-4">英伟达H20相关股票</h3>
+          <div class="table-container">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-slate-700">
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">股票名称</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">分类</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">项目/产品</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">行业/应用</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">其他信息</th>
+                  <th class="text-left py-3 px-4 text-slate-300 font-medium">信源</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">弘信电子</td>
+                  <td class="py-3 px-4 text-slate-300">代理分销</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达中国区精英级合作伙伴</td>
+                  <td class="py-3 px-4 text-slate-300">算力服务器整机、数据中心专业级GPU卡销售</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">神州数码</td>
+                  <td class="py-3 px-4 text-slate-300">代理分销</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达的分销合作伙伴</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">中电港</td>
+                  <td class="py-3 px-4 text-slate-300">代理分销</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达在国内的授权分销商之一</td>
+                  <td class="py-3 px-4 text-slate-300">GPU产品用于数据中心</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">鸿博股份</td>
+                  <td class="py-3 px-4 text-slate-300">代理分销</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达DGX系列AI服务器的用户和运营方</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">机构调研</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">先进数通</td>
+                  <td class="py-3 px-4 text-slate-300">代理分销</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达合作伙伴，在Solution Provider领域是Elite级代理</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">华勤技术</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达服务器</td>
+                  <td class="py-3 px-4 text-slate-300">量产出货最新的NV L20 GPU AI服务器产品</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">浪潮信息</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达服务器</td>
+                  <td class="py-3 px-4 text-slate-300">在服务器系统架构、散热、电源、高速信号等领域与国内外服务器部件厂商合作</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">航锦科技</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达服务器</td>
+                  <td class="py-3 px-4 text-slate-300">超擎擎天系列IL20服务器已首推，元景系列H20、8U8卡Nvlink即将发布</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">紫光股份</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达服务器</td>
+                  <td class="py-3 px-4 text-slate-300">NVIDIA数据中心GPU、NVIDIA DGX系统等中国区总代理</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司官网</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">工业富联</td>
+                  <td class="py-3 px-4 text-slate-300">英伟达服务器</td>
+                  <td class="py-3 px-4 text-slate-300">开发并量产英伟达的H100及H800等高性能AI服务器</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">麦格米特</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">服务器电源指定供应商，参与GB200系统设计与建设</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司公告</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">东阳光</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">液冷散热，与中际旭创合资成立广东深度智冷间接接入英伟达供应链生态</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">网络资料</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">钧威电子</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">电流检测精密电阻产品应用于英伟达GB300系列</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">铂科新材</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">为终端GPU厂商提供芯片电感产品</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">江海股份</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">铝电解电容器（MLPC）和超级电容器产品适配英伟达GB300芯片方案</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司互动</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">胜宏科技</td>
+                  <td class="py-3 px-4 text-slate-300">供应商</td>
+                  <td class="py-3 px-4 text-slate-300">2023年PCB板产品切入英伟达的H系列AI加速卡</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公开资料</td>
+                </tr>
+                <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+                  <td class="py-3 px-4 font-medium text-blue-300">鸿博股份</td>
+                  <td class="py-3 px-4 text-slate-300">算力中心</td>
+                  <td class="py-3 px-4 text-slate-300">2022年8月14日与英伟达等共同合作成立北京AI创新赋能中心</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司公告</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 font-medium text-blue-300">润建股份</td>
+                  <td class="py-3 px-4 text-slate-300">算力中心</td>
+                  <td class="py-3 px-4 text-slate-300">与安联通算力项目开展合作，安联通是NVIDIA中国区精英级（Elite）合作伙伴</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">-</td>
+                  <td class="py-3 px-4 text-slate-300">公司公告</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.2,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 0.5
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AI语音助手.html

@@ -0,0 +1,582 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AI语音助手概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #f5f7fa 0%, #e4e8f0 100%);
+      min-height: 100vh;
+    }
+    
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    
+    .card-shadow {
+      box-shadow: 0 10px 30px rgba(0, 0, 0, 0.1);
+    }
+    
+    .timeline-dot {
+      position: relative;
+    }
+    
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background: #667eea;
+      top: 50%;
+      left: 50%;
+      transform: translate(-50%, -50%);
+    }
+    
+    .timeline-line {
+      position: absolute;
+      width: 2px;
+      background: #e2e8f0;
+      top: 0;
+      bottom: 0;
+      left: 50%;
+      transform: translateX(-50%);
+      z-index: -1;
+    }
+    
+    .highlight {
+      background: linear-gradient(transparent 60%, rgba(102, 126, 234, 0.2) 40%);
+      padding: 0 2px;
+    }
+    
+    .table-responsive {
+      overflow-x: auto;
+    }
+    
+    @media (max-width: 768px) {
+      .timeline-line {
+        left: 20px;
+      }
+      
+      .timeline-dot::before {
+        left: 20px;
+      }
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-js" class="fixed inset-0 z-0"></div>
+  
+  <div class="relative z-10 container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-10">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">AI语音助手概念分析</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">从技术突破到商业化落地，全面解析AI语音助手产业链与投资机会</p>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+          <i class="fas fa-lightbulb text-white"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">核心观点摘要</h2>
+      </div>
+      <div class="bg-gradient-to-r from-purple-50 to-indigo-50 rounded-lg p-5 border-l-4 border-purple-500">
+        <p class="text-gray-700 text-lg">
+          <span class="highlight font-semibold">AI语音助手正从"工具"升级为"系统级Agent"</span>：技术拐点（GPT-4o/豆包实时语音）已突破延迟与情感瓶颈，<span class="highlight font-semibold">2024-2025年</span>进入<span class="highlight font-semibold">硬件-模型-场景</span>三方共振的<span class="highlight font-semibold">商业化元年</span>。<span class="highlight font-semibold">短期看爆款应用（如情感陪伴、车载交互），长期看OS级入口重构</span>。
+        </p>
+      </div>
+    </div>
+    
+    <!-- 概念事件时间轴 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-6">
+        <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+          <i class="fas fa-history text-white"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">概念事件时间轴</h2>
+      </div>
+      
+      <div class="relative">
+        <div class="timeline-line hidden md:block"></div>
+        
+        <div class="space-y-8">
+          <!-- 2023-03 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <div class="bg-purple-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-purple-700">2023-03</h3>
+                <p class="font-semibold">方正"ChatGPT应用大会"路演</p>
+              </div>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <p class="text-gray-700">首次提出"AI语音助手=下一代流量入口"，并演示Siri/小爱音箱接入GPT-3.5的延迟瓶颈（>30s）。</p>
+            </div>
+          </div>
+          
+          <!-- 2024-05 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <p class="text-gray-700">232ms实时语音响应，支持打断+情绪模拟，引爆"Her级"交互预期。</p>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <div class="bg-indigo-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-indigo-700">2024-05</h3>
+                <p class="font-semibold">OpenAI发布GPT-4o</p>
+              </div>
+            </div>
+          </div>
+          
+          <!-- 2024-06 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <div class="bg-purple-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-purple-700">2024-06</h3>
+                <p class="font-semibold">苹果WWDC24</p>
+              </div>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <p class="text-gray-700">宣布Siri 2.0将深度集成GPT-4o，可跨App执行任务（如"拍餐桌→备忘录记菜名"）。</p>
+            </div>
+          </div>
+          
+          <!-- 2024-08 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <p class="text-gray-700">4.36/5分用户评分，情绪识别能力超GPT-4o（3.18分）。</p>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <div class="bg-indigo-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-indigo-700">2024-08</h3>
+                <p class="font-semibold">字节豆包实时语音全量上线</p>
+              </div>
+            </div>
+          </div>
+          
+          <!-- 2024-09 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <div class="bg-purple-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-purple-700">2024-09</h3>
+                <p class="font-semibold">Meta收购PlayAI</p>
+              </div>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <p class="text-gray-700">强化语音克隆技术，整合至Meta AI助手（WhatsApp/Instagram）。</p>
+            </div>
+          </div>
+          
+          <!-- 2025-03 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <p class="text-gray-700">基于DeepSeek/Qwen，对话留存提升100-300%，验证高粘性场景（儿童/情感陪伴）。</p>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <div class="bg-indigo-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-indigo-700">2025-03</h3>
+                <p class="font-semibold">喜马拉雅"小雅/波波"上线</p>
+              </div>
+            </div>
+          </div>
+          
+          <!-- 2025-06 -->
+          <div class="flex flex-col md:flex-row">
+            <div class="md:w-1/2 md:pr-8 md:text-right mb-4 md:mb-0">
+              <div class="bg-purple-50 rounded-lg p-4 inline-block">
+                <h3 class="font-bold text-purple-700">2025-06</h3>
+                <p class="font-semibold">华为Pura80将上线"AI超级智能体"</p>
+              </div>
+            </div>
+            <div class="timeline-dot hidden md:block"></div>
+            <div class="md:w-1/2 md:pl-8">
+              <p class="text-gray-700">专利显示可通过设备姿态唤醒语音助手，无唤醒词交互。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="grid grid-cols-1 lg:grid-cols-2 gap-6 mb-8">
+      <!-- 核心驱动力 -->
+      <div class="card bg-white rounded-xl shadow-lg p-6">
+        <div class="flex items-center mb-4">
+          <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+            <i class="fas fa-cogs text-white"></i>
+          </div>
+          <h2 class="text-xl font-bold text-gray-800">核心驱动力</h2>
+        </div>
+        <div class="space-y-4">
+          <div class="bg-blue-50 rounded-lg p-4">
+            <h3 class="font-bold text-blue-700 mb-2">技术突破</h3>
+            <ul class="list-disc pl-5 space-y-1 text-gray-700">
+              <li><span class="font-semibold">延迟</span>：GPT-4o将语音响应从5.4秒压缩至232毫秒</li>
+              <li><span class="font-semibold">情感</span>：豆包实时语音模型50%用户打满分，情绪识别准确率>90%</li>
+              <li><span class="font-semibold">多模态</span>：华为专利支持"姿态+语音"无唤醒交互</li>
+            </ul>
+          </div>
+          <div class="bg-green-50 rounded-lg p-4">
+            <h3 class="font-bold text-green-700 mb-2">成本下降</h3>
+            <p class="text-gray-700">端侧推理优化，推动7B模型可在手机端运行（需50TFLOPS算力）</p>
+          </div>
+          <div class="bg-yellow-50 rounded-lg p-4">
+            <h3 class="font-bold text-yellow-700 mb-2">场景爆发</h3>
+            <ul class="list-disc pl-5 space-y-1 text-gray-700">
+              <li><span class="font-semibold">车载</span>：雷诺Reno、问界M5小艺已实现跨应用任务执行</li>
+              <li><span class="font-semibold">陪伴</span>：喜马拉雅"波波"对话留存提升300%</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <!-- 市场热度与预期差 -->
+      <div class="card bg-white rounded-xl shadow-lg p-6">
+        <div class="flex items-center mb-4">
+          <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+            <i class="fas fa-chart-line text-white"></i>
+          </div>
+          <h2 class="text-xl font-bold text-gray-800">市场热度与预期差</h2>
+        </div>
+        <div class="space-y-4">
+          <div class="bg-purple-50 rounded-lg p-4">
+            <h3 class="font-bold text-purple-700 mb-2">研报密度</h3>
+            <p class="text-gray-700">2024年5-9月相关路演超15场，关键词从"语音交互"升级为"实时Agent"</p>
+          </div>
+          <div class="bg-indigo-50 rounded-lg p-4">
+            <h3 class="font-bold text-indigo-700 mb-2">情绪分化</h3>
+            <ul class="list-disc pl-5 space-y-1 text-gray-700">
+              <li><span class="font-semibold">乐观派</span>：2025年AI手机渗透率将达51.9%（2023年仅5.5%）</li>
+              <li><span class="font-semibold">谨慎派</span>：指出合规风险和幻觉问题</li>
+            </ul>
+          </div>
+          <div class="bg-pink-50 rounded-lg p-4">
+            <h3 class="font-bold text-pink-700 mb-2">预期差</h3>
+            <ul class="list-disc pl-5 space-y-1 text-gray-700">
+              <li><span class="font-semibold">硬件门槛</span>：高信噪比MEMS麦克风是低估的瓶颈</li>
+              <li><span class="font-semibold">数据闭环</span>：情感陪伴场景可能催生订阅制变现</li>
+              <li><span class="font-semibold">政策灰犀牛</span>：苹果中国版Siri接入文心一言的谈判进度</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 催化剂与路径 -->
+    <div class="grid grid-cols-1 lg:grid-cols-2 gap-6 mb-8">
+      <!-- 近期催化剂 -->
+      <div class="card bg-white rounded-xl shadow-lg p-6">
+        <div class="flex items-center mb-4">
+          <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+            <i class="fas fa-rocket text-white"></i>
+          </div>
+          <h2 class="text-xl font-bold text-gray-800">近期催化剂（3-6个月）</h2>
+        </div>
+        <div class="overflow-x-auto">
+          <table class="min-w-full divide-y divide-gray-200">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">事件</th>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">影响</th>
+                <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">时间</th>
+              </tr>
+            </thead>
+            <tbody class="bg-white divide-y divide-gray-200">
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">苹果iOS18.6中国版Siri落地</td>
+                <td class="px-4 py-3 text-sm text-gray-700">若接入文心一言，将激活1.5亿iPhone存量用户换机需求</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-700">2025年8月</td>
+              </tr>
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">小米"超级小爱"全量推送</td>
+                <td class="px-4 py-3 text-sm text-gray-700">验证跨应用任务执行能力（如"语音订外卖+支付"）</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-700">2025年Q3</td>
+              </tr>
+              <tr>
+                <td class="px-4 py-3 whitespace-nowrap text-sm font-medium text-gray-900">Meta Ray-Ban智能眼镜销量</td>
+                <td class="px-4 py-3 text-sm text-gray-700">若Q2销量>200万台，将证明语音+视觉入口价值</td>
+                <td class="px-4 py-3 whitespace-nowrap text-sm text-gray-700">2025年7月财报</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <!-- 长期路径 -->
+      <div class="card bg-white rounded-xl shadow-lg p-6">
+        <div class="flex items-center mb-4">
+          <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+            <i class="fas fa-road text-white"></i>
+          </div>
+          <h2 class="text-xl font-bold text-gray-800">长期路径（2025-2027）</h2>
+        </div>
+        <div class="flex flex-col items-center justify-center h-full">
+          <div class="space-y-4 w-full">
+            <div class="bg-purple-100 rounded-lg p-4 text-center">
+              <h3 class="font-bold text-purple-700">2025: 爆款场景</h3>
+              <p class="text-sm text-gray-700">情感陪伴/车载</p>
+            </div>
+            <div class="flex justify-center">
+              <i class="fas fa-arrow-down text-purple-500"></i>
+            </div>
+            <div class="bg-indigo-100 rounded-lg p-4 text-center">
+              <h3 class="font-bold text-indigo-700">2026: OS级入口</h3>
+              <p class="text-sm text-gray-700">苹果Siri 3.0/安卓Agent</p>
+            </div>
+            <div class="flex justify-center">
+              <i class="fas fa-arrow-down text-indigo-500"></i>
+            </div>
+            <div class="bg-blue-100 rounded-lg p-4 text-center">
+              <h3 class="font-bold text-blue-700">2027: 硬件-订阅闭环</h3>
+              <p class="text-sm text-gray-700">AI手机渗透率>50%，年市场规模>$500亿</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关联股票数据 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-6">
+        <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+          <i class="fas fa-chart-bar text-white"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">关联股票数据</h2>
+      </div>
+      
+      <div class="table-responsive">
+        <table class="min-w-full divide-y divide-gray-200">
+          <thead class="bg-gray-50">
+            <tr>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">行业/合作方</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">项目/产品/技术</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">产业链/应用领域</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">关联原因</th>
+            </tr>
+          </thead>
+          <tbody class="bg-white divide-y divide-gray-200">
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">中胤时尚</td>
+              <td class="px-4 py-4 text-sm text-gray-700">参股公司</td>
+              <td class="px-4 py-4 text-sm text-gray-700">AIGC多模态内容生成</td>
+              <td class="px-4 py-4 text-sm text-gray-700">文本/图片/语音识别</td>
+              <td class="px-4 py-4 text-sm text-gray-700">参股公司新畅元参与AIGC多模态内容生成，支持文本、图片、语音快速识别</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">声迅股份</td>
+              <td class="px-4 py-4 text-sm text-gray-700">人工智能</td>
+              <td class="px-4 py-4 text-sm text-gray-700">语音识别</td>
+              <td class="px-4 py-4 text-sm text-gray-700">大数据/物联网</td>
+              <td class="px-4 py-4 text-sm text-gray-700">主营业务涵盖人工智能、物联网应用，核心技术包含语音识别技术</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">南兴股份</td>
+              <td class="px-4 py-4 text-sm text-gray-700">微软</td>
+              <td class="px-4 py-4 text-sm text-gray-700">AIGC支持</td>
+              <td class="px-4 py-4 text-sm text-gray-700">智能网络设备</td>
+              <td class="px-4 py-4 text-sm text-gray-700">子公司唯一网络与微软合作开发支持AIGC的新产品</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">鼎捷软件</td>
+              <td class="px-4 py-4 text-sm text-gray-700">OpenAI</td>
+              <td class="px-4 py-4 text-sm text-gray-700">个人智能助理</td>
+              <td class="px-4 py-4 text-sm text-gray-700">企业数智化</td>
+              <td class="px-4 py-4 text-sm text-gray-700">在中国台湾地区发布集成OpenAI的个人智能助理产品</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">惠威科技</td>
+              <td class="px-4 py-4 text-sm text-gray-700">-</td>
+              <td class="px-4 py-4 text-sm text-gray-700">智能音箱/耳机</td>
+              <td class="px-4 py-4 text-sm text-gray-700">语音交互</td>
+              <td class="px-4 py-4 text-sm text-gray-700">研发Phonism智能音箱及多款智能耳机产品</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">挖金客</td>
+              <td class="px-4 py-4 text-sm text-gray-700">-</td>
+              <td class="px-4 py-4 text-sm text-gray-700">AI智能语音助手</td>
+              <td class="px-4 py-4 text-sm text-gray-700">客户服务</td>
+              <td class="px-4 py-4 text-sm text-gray-700">在客户服务过程中应用AI智能语音助手技术</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">网达软件</td>
+              <td class="px-4 py-4 text-sm text-gray-700">-</td>
+              <td class="px-4 py-4 text-sm text-gray-700">AI视频识别</td>
+              <td class="px-4 py-4 text-sm text-gray-700">虚拟数字人</td>
+              <td class="px-4 py-4 text-sm text-gray-700">深耕移动多媒体领域，AI技术应用于视频识别和虚拟数字人</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">国光电器</td>
+              <td class="px-4 py-4 text-sm text-gray-700">微软</td>
+              <td class="px-4 py-4 text-sm text-gray-700">智能音箱</td>
+              <td class="px-4 py-4 text-sm text-gray-700">ChatGPT集成</td>
+              <td class="px-4 py-4 text-sm text-gray-700">与微软合作开发集成ChatGPT的智能音箱产品</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">漫步者</td>
+              <td class="px-4 py-4 text-sm text-gray-700">-</td>
+              <td class="px-4 py-4 text-sm text-gray-700">TWS耳机</td>
+              <td class="px-4 py-4 text-sm text-gray-700">全球市占率前三</td>
+              <td class="px-4 py-4 text-sm text-gray-700">推出搭载AI语音助手的TWS耳机，国内市占率超50%</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">科大讯飞</td>
+              <td class="px-4 py-4 text-sm text-gray-700">-</td>
+              <td class="px-4 py-4 text-sm text-gray-700">AI语音交互</td>
+              <td class="px-4 py-4 text-sm text-gray-700">智慧客服</td>
+              <td class="px-4 py-4 text-sm text-gray-700">在智慧客服领域应用AI语音技术，提升运营效率</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 风险与挑战 -->
+    <div class="card bg-white rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="w-10 h-10 rounded-full gradient-bg flex items-center justify-center mr-3">
+          <i class="fas fa-exclamation-triangle text-white"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">风险与挑战</h2>
+      </div>
+      <div class="overflow-x-auto">
+        <table class="min-w-full divide-y divide-gray-200">
+          <thead class="bg-gray-50">
+            <tr>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险类型</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">具体表现</th>
+              <th class="px-4 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">数据支撑</th>
+            </tr>
+          </thead>
+          <tbody class="bg-white divide-y divide-gray-200">
+            <tr>
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">技术瓶颈</td>
+              <td class="px-4 py-4 text-sm text-gray-700">长文本语音生成仍不稳定（ChatTTS超30秒需手动修复）</td>
+              <td class="px-4 py-4 text-sm text-gray-700">GitHub开源反馈</td>
+            </tr>
+            <tr>
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">商业化</td>
+              <td class="px-4 py-4 text-sm text-gray-700">订阅制接受度低：Oura Ring订阅用户仅占20%</td>
+              <td class="px-4 py-4 text-sm text-gray-700">公司财报</td>
+            </tr>
+            <tr>
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">政策风险</td>
+              <td class="px-4 py-4 text-sm text-gray-700">国内大模型备案延迟：苹果中国版Siri仍未获批</td>
+              <td class="px-4 py-4 text-sm text-gray-700">工信部2025年6月清单</td>
+            </tr>
+            <tr>
+              <td class="px-4 py-4 whitespace-nowrap text-sm font-medium text-gray-900">信息矛盾</td>
+              <td class="px-4 py-4 text-sm text-gray-700">华为"小艺"宣称支持无唤醒词，但实测需双击镜腿</td>
+              <td class="px-4 py-4 text-sm text-gray-700">用户测评视频</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+    
+    <!-- 综合结论与投资启示 -->
+    <div class="card bg-gradient-to-r from-purple-600 to-indigo-700 rounded-xl shadow-lg p-6 mb-8 text-white">
+      <div class="flex items-center mb-4">
+        <div class="w-10 h-10 rounded-full bg-white bg-opacity-20 flex items-center justify-center mr-3">
+          <i class="fas fa-trophy text-white"></i>
+        </div>
+        <h2 class="text-2xl font-bold">综合结论与投资启示</h2>
+      </div>
+      
+      <div class="space-y-6">
+        <div>
+          <h3 class="text-xl font-bold mb-2">阶段判断</h3>
+          <p class="text-purple-100">主题炒作末期→基本面驱动初期。技术拐点已现（GPT-4o/豆包），但爆款应用（如情感陪伴）和硬件放量（AI手机）需2025年Q3验证。</p>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-2">投资方向</h3>
+          <ol class="list-decimal pl-5 space-y-2 text-purple-100">
+            <li><span class="font-semibold">硬件瓶颈</span>：高信噪比MEMS麦克风（歌尔股份、敏芯股份）——苹果/安卓旗舰机标配，ASP提升3-5倍。</li>
+            <li><span class="font-semibold">场景龙头</span>：科大讯飞（车载语音入口）+字节跳动（情感陪伴订阅）——数据闭环最深。</li>
+            <li><span class="font-semibold">预期差标的</span>：昆仑万维（Skyo"无幻觉"标签）——若留存>50%，估值可重估。</li>
+          </ol>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-bold mb-2">跟踪指标</h3>
+          <ul class="list-disc pl-5 space-y-1 text-purple-100">
+            <li><span class="font-semibold">硬件</span>：2025年Q3 AI手机出货量（IDC预测1.5亿台）</li>
+            <li><span class="font-semibold">应用</span>：豆包实时语音次日留存率（需>40%验证粘性）</li>
+            <li><span class="font-semibold">政策</span>：苹果中国版Siri备案进度（8月节点）</li>
+          </ul>
+        </div>
+        
+        <div class="bg-white bg-opacity-10 rounded-lg p-4 mt-4">
+          <p class="text-lg font-semibold text-center">"买硬件的"铲子"（MEMS麦克风），押注场景的"水龙头"（情感陪伴订阅），紧盯苹果的"发令枪"（中国版Siri落地）。"</p>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    // 粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 30,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#667eea"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.2,
+          random: true
+        },
+        size: {
+          value: 5,
+          random: true
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: true,
+          straight: false,
+          out_mode: "out"
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "repulse"
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AR眼镜.html

@@ -0,0 +1,727 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>AR眼镜行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+    }
+    
+    .glass-card {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(100, 116, 139, 0.3);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.2);
+    }
+    
+    .timeline-dot {
+      position: relative;
+    }
+    
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background: #3b82f6;
+      top: 50%;
+      left: -8px;
+      transform: translateY(-50%);
+      z-index: 2;
+    }
+    
+    .timeline-line {
+      position: absolute;
+      width: 2px;
+      background: #334155;
+      top: 0;
+      bottom: 0;
+      left: 0;
+      z-index: 1;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      background-clip: text;
+      color: transparent;
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.1), rgba(139, 92, 246, 0.1));
+      border-left: 4px solid #3b82f6;
+    }
+    
+    .stock-table {
+      overflow-x: auto;
+    }
+    
+    .stock-table::-webkit-scrollbar {
+      height: 8px;
+    }
+    
+    .stock-table::-webkit-scrollbar-track {
+      background: #1e293b;
+    }
+    
+    .stock-table::-webkit-scrollbar-thumb {
+      background: #475569;
+      border-radius: 4px;
+    }
+    
+    .card-hover {
+      transition: all 0.3s ease;
+    }
+    
+    .card-hover:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 10px 40px 0 rgba(31, 38, 135, 0.3);
+    }
+    
+    .tech-badge {
+      background: rgba(59, 130, 246, 0.2);
+      color: #93c5fd;
+      border: 1px solid rgba(59, 130, 246, 0.3);
+    }
+    
+    @keyframes pulse {
+      0% { box-shadow: 0 0 0 0 rgba(59, 130, 246, 0.4); }
+      70% { box-shadow: 0 0 0 10px rgba(59, 130, 246, 0); }
+      100% { box-shadow: 0 0 0 0 rgba(59, 130, 246, 0); }
+    }
+    
+    .pulse {
+      animation: pulse 2s infinite;
+    }
+  </style>
+</head>
+<body class="min-h-screen p-4 md:p-8">
+  <div class="max-w-7xl mx-auto">
+    <!-- 标题区域 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">AR眼镜行业洞察报告</h1>
+      <p class="text-lg text-slate-300 max-w-3xl mx-auto">
+        深度解析AR眼镜产业发展趋势、技术突破与投资机会
+      </p>
+      <div class="mt-6 flex justify-center space-x-4">
+        <span class="tech-badge px-4 py-2 rounded-full text-sm font-medium">消费级AR元年</span>
+        <span class="tech-badge px-4 py-2 rounded-full text-sm font-medium">光波导+Micro LED</span>
+        <span class="tech-badge px-4 py-2 rounded-full text-sm font-medium">AI端侧化</span>
+      </div>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-timeline mr-3 text-blue-400"></i>
+        概念事件时间轴
+      </h2>
+      <div class="relative pl-8">
+        <div class="timeline-line"></div>
+        
+        <div class="mb-6 timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2023Q4</h3>
+              <span class="text-sm text-green-400 font-medium">首次验证PMF，引爆行业</span>
+            </div>
+            <p class="text-slate-300">Meta Ray-Ban Meta销量破<span class="text-blue-300 font-bold">100万台</span>（Wellsenn口径）</p>
+          </div>
+        </div>
+        
+        <div class="mb-6 timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2024-05</h3>
+              <span class="text-sm text-green-400 font-medium">价格带下探</span>
+            </div>
+            <p class="text-slate-300">小米发布AI眼镜（1999元，支持明月镜片），国内大厂正式下场，价格带下探至<span class="text-blue-300 font-bold">2000元级</span></p>
+          </div>
+        </div>
+        
+        <div class="mb-6 timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2024-08</h3>
+              <span class="text-sm text-green-400 font-medium">供应链国产化</span>
+            </div>
+            <p class="text-slate-300">科森科技确认供货XREAL AR眼镜后壳</p>
+          </div>
+        </div>
+        
+        <div class="mb-6 timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2024-12</h3>
+              <span class="text-sm text-green-400 font-medium">销量突破</span>
+            </div>
+            <p class="text-slate-300">雷鸟/ROKID/星纪魅族密集发布新品，<span class="text-blue-300 font-bold">Q4国内销量达28.6万台</span>（艾瑞数据）</p>
+          </div>
+        </div>
+        
+        <div class="mb-6 timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2025-01</h3>
+              <span class="text-sm text-green-400 font-medium">轻量化突破</span>
+            </div>
+            <p class="text-slate-300">CES2025：35g Halliday眼镜亮相，轻量化技术突破（视网膜投影）</p>
+          </div>
+        </div>
+        
+        <div class="timeline-dot">
+          <div class="bg-slate-800 rounded-xl p-4 ml-4 pulse">
+            <div class="flex flex-col md:flex-row md:items-center justify-between mb-2">
+              <h3 class="text-lg font-semibold text-blue-300">2025-06</h3>
+              <span class="text-sm text-yellow-400 font-medium">供应链备货周期</span>
+            </div>
+            <p class="text-slate-300">产业链调研：上游光学备货量<span class="text-blue-300 font-bold">1000万+</span>（+10% YoY）</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-lightbulb mr-3 text-yellow-400"></i>
+        核心观点摘要
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="highlight-box rounded-xl p-5">
+          <h3 class="text-xl font-semibold mb-3 text-blue-300">阶段判断</h3>
+          <p class="text-slate-300">
+            AR眼镜正处于<span class="text-blue-300 font-bold">"AI眼镜放量→真AR渗透"</span>的过渡期，2025年是<span class="text-blue-300 font-bold">消费级AR元年</span>，技术路径收敛至<span class="text-blue-300 font-bold">光波导+Micro LED</span>，但需突破<span class="text-blue-300 font-bold">50g重量+4小时续航</span>的临界点。
+          </p>
+        </div>
+        <div class="highlight-box rounded-xl p-5">
+          <h3 class="text-xl font-semibold mb-3 text-blue-300">核心驱动力</h3>
+          <ul class="text-slate-300 space-y-2">
+            <li><i class="fas fa-check-circle text-green-400 mr-2"></i><span class="text-blue-300 font-bold">AI大模型端侧化</span>（如Llama3/通义千问）解决交互痛点</li>
+            <li><i class="fas fa-check-circle text-green-400 mr-2"></i><span class="text-blue-300 font-bold">碳化硅光波导</span>降本推动光学方案成熟</li>
+            <li><i class="fas fa-check-circle text-green-400 mr-2"></i><span class="text-blue-300 font-bold">Meta/小米/华为</span>等巨头生态卡位</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-brain mr-3 text-purple-400"></i>
+        核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">根本逻辑：三重拐点叠加</h3>
+        
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-6">
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">技术拐点</h4>
+            <ul class="text-slate-300 space-y-2 text-sm">
+              <li><span class="text-blue-300 font-medium">光波导良率突破</span>：晶盛机电12寸SiC衬底量产（2025Q3），单片成本从1500元→1000元</li>
+              <li><span class="text-blue-300 font-medium">Micro LED全彩化</span>：雷鸟X3 Pro实现2500nits入眼亮度（无彩虹纹）</li>
+            </ul>
+          </div>
+          
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">需求拐点</h4>
+            <ul class="text-slate-300 space-y-2 text-sm">
+              <li><span class="text-blue-300 font-medium">AI刚需场景</span>：实时翻译、第一视角拍摄（Meta Ray-Ban 142万销量验证）</li>
+              <li><span class="text-blue-300 font-medium">近视刚需</span>：中国70%目标用户需配镜，传统眼镜渠道成为"最后一公里"</li>
+            </ul>
+          </div>
+          
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">成本拐点</h4>
+            <ul class="text-slate-300 space-y-2 text-sm">
+              <li><span class="text-blue-300 font-medium">BOM拆解</span>：光学模组占43%成本（光波导30%+Micro LED13%）</li>
+              <li><span class="text-blue-300 font-medium">碳化硅方案</span>：降本33%后整机可降至2000元级</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">市场情绪与预期差</h3>
+        <div class="bg-slate-800 rounded-xl p-5">
+          <p class="text-slate-300 mb-4">
+            <span class="text-yellow-400 font-medium">热度指标</span>：2024年Q4至今15篇深度研报（vs 2023全年仅3篇），但路演显示：
+          </p>
+          <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+            <div class="bg-slate-700 rounded-lg p-4">
+              <h4 class="text-lg font-semibold mb-2 text-red-300">预期差1</h4>
+              <p class="text-slate-300 text-sm">
+                市场认为"AR=显示"，但<span class="text-blue-300 font-bold">无显示AI眼镜</span>（如Meta Ray-Ban）才是当前出货主力（<span class="text-blue-300 font-bold">93%占比</span>）。
+              </p>
+            </div>
+            <div class="bg-slate-700 rounded-lg p-4">
+              <h4 class="text-lg font-semibold mb-2 text-red-300">预期差2</h4>
+              <p class="text-slate-300 text-sm">
+                碳化硅衬底进度被低估——<span class="text-blue-300 font-bold">天岳先进</span>12寸半绝缘型已通过<span class="text-blue-300 font-bold">META认证</span>（2025年小批量），而市场预期2026年后。
+              </p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 催化剂与发展路径 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-rocket mr-3 text-green-400"></i>
+        催化剂与发展路径
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">近期催化剂（3-6个月）</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-slate-300">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="py-3 px-4 text-left">事件</th>
+                <th class="py-3 px-4 text-left">时间</th>
+                <th class="py-3 px-4 text-left">影响</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-medium">Meta Hypernova发布</td>
+                <td class="py-3 px-4">2025-10</td>
+                <td class="py-3 px-4">双目全彩AR眼镜，定价<span class="text-blue-300 font-bold">1万元+</span>，验证高端需求</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-medium">小米AR眼镜量产</td>
+                <td class="py-3 px-4">2025Q3</td>
+                <td class="py-3 px-4">预计售价<span class="text-blue-300 font-bold">1999元</span>，引爆性价比市场</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium">碳化硅衬底出货</td>
+                <td class="py-3 px-4">2025Q3</td>
+                <td class="py-3 px-4">晶盛机电/天岳先进12寸产能释放，光学成本下降<span class="text-blue-300 font-bold">30%</span></td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">长期路径（2025-2028）</h3>
+        <div class="bg-slate-800 rounded-xl p-6">
+          <div class="flex flex-col md:flex-row items-center justify-between space-y-4 md:space-y-0">
+            <div class="text-center">
+              <div class="w-16 h-16 rounded-full bg-blue-500 flex items-center justify-center mx-auto mb-2">
+                <span class="text-white font-bold">2025</span>
+              </div>
+              <p class="text-sm text-slate-300">AI眼镜放量</p>
+            </div>
+            <div class="text-blue-400 text-2xl">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="w-16 h-16 rounded-full bg-purple-500 flex items-center justify-center mx-auto mb-2">
+                <span class="text-white font-bold">2026</span>
+              </div>
+              <p class="text-sm text-slate-300">单色AR渗透</p>
+            </div>
+            <div class="text-blue-400 text-2xl">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="w-16 h-16 rounded-full bg-green-500 flex items-center justify-center mx-auto mb-2">
+                <span class="text-white font-bold">2027</span>
+              </div>
+              <p class="text-sm text-slate-300">全彩AR爆发</p>
+            </div>
+            <div class="text-blue-400 text-2xl">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="w-16 h-16 rounded-full bg-yellow-500 flex items-center justify-center mx-auto mb-2">
+                <span class="text-white font-bold">2028</span>
+              </div>
+              <p class="text-sm text-slate-300">千万级出货</p>
+            </div>
+            <div class="text-blue-400 text-2xl">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="w-16 h-16 rounded-full bg-red-500 flex items-center justify-center mx-auto mb-2">
+                <i class="fas fa-mobile-alt"></i>
+              </div>
+              <p class="text-sm text-slate-300">替代手机场景</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-sitemap mr-3 text-cyan-400"></i>
+        产业链与核心公司
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">产业链图谱</h3>
+        <div class="bg-slate-800 rounded-xl p-5 overflow-x-auto">
+          <pre class="text-slate-300 text-sm whitespace-pre-wrap">上游（材料/器件）
+├── 碳化硅衬底：天岳先进（12寸认证）、晶盛机电（产线建成）
+├── 光波导：水晶光电（衍射）、舜宇光学（阵列）
+├── Micro LED：JBD（单色量产）、华灿光电（全彩研发）
+中游（代工/品牌）
+├── 代工：歌尔股份（Meta独家）、立讯精密（苹果Vision Pro）
+├── 品牌：雷鸟（TCL背书）、Rokid（阿里合作）、星纪魅族（生态协同）
+下游（渠道/应用）
+├── 渠道：博士眼镜（验配刚需）、小米之家（流量入口）
+├── 应用：钉钉（远程协作）、爱奇艺（3D观影）</pre>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-slate-300">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="py-3 px-4 text-left">公司</th>
+                <th class="py-3 px-4 text-left">角色</th>
+                <th class="py-3 px-4 text-left">进展</th>
+                <th class="py-3 px-4 text-left">风险</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-medium text-blue-300">歌尔股份</td>
+                <td class="py-3 px-4">代工龙头</td>
+                <td class="py-3 px-4">Meta Ray-Ban<span class="text-blue-300 font-bold">独家供应商</span>（2024年200万副）</td>
+                <td class="py-3 px-4">客户集中度高（Meta占比>60%）</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-medium text-blue-300">天岳先进</td>
+                <td class="py-3 px-4">碳化硅衬底</td>
+                <td class="py-3 px-4">12寸半绝缘型<span class="text-blue-300 font-bold">通过META认证</span>（2025年小批量）</td>
+                <td class="py-3 px-4">良率爬坡不及预期（当前60%）</td>
+              </tr>
+              <tr class="border-b border-slate-700">
+                <td class="py-3 px-4 font-medium text-blue-300">雷鸟创新</td>
+                <td class="py-3 px-4">品牌先锋</td>
+                <td class="py-3 px-4">X3 Pro<span class="text-blue-300 font-bold">全彩Micro LED+光波导</span>（2025Q2发布）</td>
+                <td class="py-3 px-4">定价过高（8999元）或抑制需求</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-blue-300">博士眼镜</td>
+                <td class="py-3 px-4">渠道卡位</td>
+                <td class="py-3 px-4">与雷鸟成立合资公司，<span class="text-blue-300 font-bold">线下验配网络</span>覆盖</td>
+                <td class="py-3 px-4">依赖国产品牌销量（非苹果/华为）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-red-400"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-slate-800 rounded-xl p-5">
+          <h3 class="text-xl font-semibold mb-4 text-red-300">技术风险</h3>
+          <ul class="text-slate-300 space-y-3 text-sm">
+            <li>
+              <span class="text-blue-300 font-medium">Micro LED全彩化</span>：红光芯片EQE仅20%（vs 绿光60%），全彩方案良率<30%
+            </li>
+            <li>
+              <span class="text-blue-300 font-medium">光波导彩虹纹</span>：SiC方案虽降低60%但仍存在，影响户外使用体验
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800 rounded-xl p-5">
+          <h3 class="text-xl font-semibold mb-4 text-red-300">商业化风险</h3>
+          <ul class="text-slate-300 space-y-3 text-sm">
+            <li>
+              <span class="text-blue-300 font-medium">场景局限</span>：当前80%销量来自观影/翻译，缺乏杀手级应用
+            </li>
+            <li>
+              <span class="text-blue-300 font-medium">重量瓶颈</span>：50g以下续航仅2小时，全天候佩戴需突破电池密度
+            </li>
+          </ul>
+        </div>
+        
+        <div class="bg-slate-800 rounded-xl p-5">
+          <h3 class="text-xl font-semibold mb-4 text-red-300">信息矛盾点</h3>
+          <ul class="text-slate-300 space-y-3 text-sm">
+            <li>
+              <span class="text-blue-300 font-medium">出货量口径差异</span>：
+              <ul class="mt-2 ml-4 space-y-1">
+                <li>• 新闻：2024年全球AR眼镜55.3万副（含B端）</li>
+                <li>• 路演：消费级AI眼镜152万副（Meta占142万）</li>
+                <li>• → 统计范围不同（AI眼镜≠AR眼镜）</li>
+              </ul>
+            </li>
+          </ul>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="glass-card rounded-2xl p-6 mb-8 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-line mr-3 text-green-400"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">阶段判断</h3>
+        <div class="highlight-box rounded-xl p-5">
+          <p class="text-slate-300">
+            <span class="text-yellow-400 font-medium">主题炒作→基本面驱动过渡期</span>：2025年Q2前由<span class="text-blue-300 font-bold">新品发布+碳化硅降本</span>催化，Q3后需验证<span class="text-blue-300 font-bold">出货量</span>（如小米1999元款首月销能否破10万）。
+          </p>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">高价值细分方向</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">碳化硅衬底</h4>
+            <p class="text-slate-300 text-sm mb-3">
+              <span class="text-blue-300 font-bold">天岳先进</span>（技术领先）+<span class="text-blue-300 font-bold">晶盛机电</span>（产能最快），2025年弹性最大
+            </p>
+            <p class="text-slate-400 text-xs">
+              AR需求仅占SiC总需求5%，但单价高
+            </p>
+          </div>
+          
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">光波导代工</h4>
+            <p class="text-slate-300 text-sm mb-3">
+              <span class="text-blue-300 font-bold">水晶光电</span>（衍射方案绑定Meta）+<span class="text-blue-300 font-bold">舜宇光学</span>（阵列方案绑定华为）
+            </p>
+            <p class="text-slate-400 text-xs">
+              享受技术溢价
+            </p>
+          </div>
+          
+          <div class="bg-slate-800 rounded-xl p-5">
+            <h4 class="text-lg font-semibold mb-3 text-purple-300">渠道整合</h4>
+            <p class="text-slate-300 text-sm mb-3">
+              <span class="text-blue-300 font-bold">博士眼镜</span>（线下验配70%毛利率），AR眼镜放量将重塑单店模型
+            </p>
+            <p class="text-slate-400 text-xs">
+              客单价从500元→2500元
+            </p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">关键跟踪指标</h3>
+        <div class="bg-slate-800 rounded-xl p-5">
+          <ul class="text-slate-300 space-y-3">
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-green-400 mt-1 mr-3"></i>
+              <div>
+                <span class="text-blue-300 font-medium">2025Q3小米AR眼镜首销数据</span>
+                <p class="text-slate-400 text-sm">目标50万台全年</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-green-400 mt-1 mr-3"></i>
+              <div>
+                <span class="text-blue-300 font-medium">碳化硅12寸衬底良率</span>
+                <p class="text-slate-400 text-sm">天岳先进Q3指引70%</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <i class="fas fa-check-circle text-green-400 mt-1 mr-3"></i>
+              <div>
+                <span class="text-blue-300 font-medium">Meta Hypernova预售量</span>
+                <p class="text-slate-400 text-sm">高端需求验证</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+      </div>
+      
+      <div class="mt-6 bg-gradient-to-r from-blue-900 to-purple-900 rounded-xl p-6">
+        <h3 class="text-xl font-semibold mb-3 text-white">结论</h3>
+        <p class="text-slate-200">
+          AR眼镜正处于"技术验证→商业验证"临界点，<span class="text-blue-300 font-bold">碳化硅光波导</span>和<span class="text-blue-300 font-bold">AI刚需场景</span>是胜负手，2025年<span class="text-blue-300 font-bold">Q3-Q4</span>将决定能否从<span class="text-blue-300 font-bold">百万级</span>跃迁至<span class="text-blue-300 font-bold">千万级</span>市场。
+        </p>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="glass-card rounded-2xl p-6 card-hover">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-table mr-3 text-blue-400"></i>
+        关联股票
+      </h2>
+      <div class="stock-table">
+        <table class="w-full text-slate-300">
+          <thead>
+            <tr class="border-b border-slate-700">
+              <th class="py-3 px-4 text-left">股票名称</th>
+              <th class="py-3 px-4 text-left">项目</th>
+              <th class="py-3 px-4 text-left">分类</th>
+              <th class="py-3 px-4 text-left">原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">国光电器</td>
+              <td class="py-3 px-4">Meta合作</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，国光电器为其合作方之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">歌尔股份</td>
+              <td class="py-3 px-4">Meta合作</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，歌尔股份为其合作方之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">韦尔股份</td>
+              <td class="py-3 px-4">Meta合作</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，韦尔股份为其合作方之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">水晶光电</td>
+              <td class="py-3 px-4">Meta合作</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，水晶光电为其合作方之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">飞荣达</td>
+              <td class="py-3 px-4">Meta厂商</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，飞荣达为其供应链厂商之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">茂莱光学</td>
+              <td class="py-3 px-4">Meta厂商</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，茂莱光学为其供应链厂商之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">隆利科技</td>
+              <td class="py-3 px-4">Meta厂商</td>
+              <td class="py-3 px-4">AR眼镜</td>
+              <td class="py-3 px-4">Meta将在2024年发布AR眼镜，隆利科技为其供应链厂商之一</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">TCL科技</td>
+              <td class="py-3 px-4">AR眼镜厂商</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">TCL科技属于AR眼镜产业链核心厂商</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">中科创达</td>
+              <td class="py-3 px-4">AR眼镜厂商</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">中科创达属于AR眼镜产业链核心厂商</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">天健股份</td>
+              <td class="py-3 px-4">AR眼镜厂商</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">天健股份属于AR眼镜产业链核心厂商</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">创维数字</td>
+              <td class="py-3 px-4">AR眼镜厂商</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">创维数字属于AR眼镜产业链核心厂商</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">欧菲光</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">光学模组</td>
+              <td class="py-3 px-4">欧菲光在AR眼镜产业链中提供光学模组等核心部件</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">佳禾智能</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">智能硬件</td>
+              <td class="py-3 px-4">佳禾智能在AR眼镜产业链中提供智能硬件解决方案</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">智立方</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">光学检测</td>
+              <td class="py-3 px-4">智立方在AR眼镜产业链中提供光学检测设备和技术</td>
+            </tr>
+            <tr class="border-b border-slate-700 hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">亿道信息</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">显示技术</td>
+              <td class="py-3 px-4">亿道信息在AR眼镜产业链中提供显示技术相关产品</td>
+            </tr>
+            <tr class="hover:bg-slate-800">
+              <td class="py-3 px-4 font-medium text-blue-300">英唐智控</td>
+              <td class="py-3 px-4">AR眼镜产业链</td>
+              <td class="py-3 px-4">芯片控制</td>
+              <td class="py-3 px-4">英唐智控在AR眼镜产业链中提供芯片控制解决方案</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 添加滚动动画效果
+    const observerOptions = {
+      root: null,
+      rootMargin: '0px',
+      threshold: 0.1
+    };
+
+    const observer = new IntersectionObserver((entries) => {
+      entries.forEach(entry => {
+        if (entry.isIntersecting) {
+          entry.target.style.opacity = '1';
+          entry.target.style.transform = 'translateY(0)';
+        }
+      });
+    }, observerOptions);
+
+    // 初始化卡片动画
+    document.addEventListener('DOMContentLoaded', () => {
+      const cards = document.querySelectorAll('.card-hover');
+      cards.forEach(card => {
+        card.style.opacity = '0';
+        card.style.transform = 'translateY(20px)';
+        card.style.transition = 'opacity 0.6s ease, transform 0.6s ease';
+        observer.observe(card);
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/AR镀膜.html

@@ -0,0 +1,719 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>AR镀膜概念分析 - 增强现实技术核心环节</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.11.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #3b82f6;
+            --secondary-color: #8b5cf6;
+            --accent-color: #ec4899;
+            --dark-color: #1e293b;
+            --light-bg: #f8fafc;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, sans-serif;
+            color: var(--dark-color);
+            background-color: var(--light-bg);
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, var(--primary-color) 0%, var(--secondary-color) 100%);
+            color: white;
+            padding: 4rem 0;
+            position: relative;
+            overflow: hidden;
+        }
+        
+        .hero-section::before {
+            content: '';
+            position: absolute;
+            top: 0;
+            left: 0;
+            right: 0;
+            bottom: 0;
+            background: url('data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1440 320"><path fill="%23ffffff" fill-opacity="0.1" d="M0,96L48,112C96,128,192,160,288,160C384,160,480,128,576,122.7C672,117,768,139,864,133.3C960,128,1056,96,1152,90.7C1248,85,1344,107,1392,117.3L1440,128L1440,320L1392,320C1344,320,1248,320,1152,320C1056,320,960,320,864,320C768,320,672,320,576,320C480,320,384,320,288,320C192,320,96,320,48,320L0,320Z"></path></svg>') no-repeat bottom;
+            background-size: cover;
+        }
+        
+        .section-title {
+            position: relative;
+            padding-bottom: 1rem;
+            margin-bottom: 2rem;
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 60px;
+            height: 4px;
+            background: var(--accent-color);
+        }
+        
+        .timeline {
+            position: relative;
+            padding: 2rem 0;
+        }
+        
+        .timeline::before {
+            content: '';
+            position: absolute;
+            left: 50%;
+            top: 0;
+            bottom: 0;
+            width: 2px;
+            background: #e2e8f0;
+            transform: translateX(-50%);
+        }
+        
+        .timeline-item {
+            position: relative;
+            margin-bottom: 2rem;
+        }
+        
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            left: 50%;
+            top: 0;
+            width: 16px;
+            height: 16px;
+            border-radius: 50%;
+            background: var(--primary-color);
+            transform: translateX(-50%);
+            z-index: 1;
+        }
+        
+        .timeline-content {
+            background: white;
+            padding: 1.5rem;
+            border-radius: 8px;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            width: 45%;
+        }
+        
+        .timeline-item:nth-child(odd) .timeline-content {
+            margin-left: auto;
+        }
+        
+        .timeline-date {
+            font-weight: bold;
+            color: var(--primary-color);
+            margin-bottom: 0.5rem;
+        }
+        
+        .card {
+            border: none;
+            border-radius: 12px;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            transition: transform 0.3s ease, box-shadow 0.3s ease;
+            height: 100%;
+        }
+        
+        .card:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 8px 15px rgba(0, 0, 0, 0.1);
+        }
+        
+        .card-header {
+            background: linear-gradient(135deg, var(--primary-color) 0%, var(--secondary-color) 100%);
+            color: white;
+            border-radius: 12px 12px 0 0 !important;
+            padding: 1rem;
+        }
+        
+        .stock-table {
+            background: white;
+            border-radius: 12px;
+            overflow: hidden;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+        }
+        
+        .stock-table thead {
+            background: var(--primary-color);
+            color: white;
+        }
+        
+        .stock-table tbody tr:hover {
+            background-color: #f1f5f9;
+        }
+        
+        .badge-tech {
+            background-color: var(--primary-color);
+        }
+        
+        .badge-app {
+            background-color: var(--secondary-color);
+        }
+        
+        .badge-risk {
+            background-color: #ef4444;
+        }
+        
+        .badge-opportunity {
+            background-color: #10b981;
+        }
+        
+        .stat-card {
+            background: white;
+            border-radius: 12px;
+            padding: 1.5rem;
+            text-align: center;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            transition: transform 0.3s ease;
+        }
+        
+        .stat-card:hover {
+            transform: translateY(-5px);
+        }
+        
+        .stat-number {
+            font-size: 2.5rem;
+            font-weight: bold;
+            color: var(--primary-color);
+        }
+        
+        .stat-label {
+            color: #64748b;
+            margin-top: 0.5rem;
+        }
+        
+        @media (max-width: 768px) {
+            .timeline::before {
+                left: 20px;
+            }
+            
+            .timeline-item::before {
+                left: 20px;
+            }
+            
+            .timeline-content {
+                width: calc(100% - 50px);
+                margin-left: 50px !important;
+            }
+            
+            .hero-section {
+                padding: 2rem 0;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- 导航栏 -->
+    <nav class="navbar navbar-expand-lg navbar-dark bg-dark sticky-top">
+        <div class="container">
+            <a class="navbar-brand" href="#"><i class="bi bi-eye"></i> AR镀膜概念分析</a>
+            <button class="navbar-toggler" type="button" data-bs-toggle="collapse" data-bs-target="#navbarNav">
+                <span class="navbar-toggler-icon"></span>
+            </button>
+            <div class="collapse navbar-collapse" id="navbarNav">
+                <ul class="navbar-nav ms-auto">
+                    <li class="nav-item"><a class="nav-link" href="#overview">概述</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#timeline">时间轴</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#drivers">核心驱动力</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#stocks">相关股票</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#future">未来展望</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#risks">风险挑战</a></li>
+                </ul>
+            </div>
+        </div>
+    </nav>
+
+    <!-- 英雄区域 -->
+    <section class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-4">AR镀膜：增强现实技术的核心环节</h1>
+                    <p class="lead mb-4">AR镀膜技术正处于从技术突破向大规模商业化过渡的关键阶段，核心驱动力来自于AR眼镜等消费电子产品的快速普及和镀膜工艺的技术突破。</p>
+                    <div class="d-flex flex-wrap gap-3">
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-graph-up"></i> 市场规模：270亿美元</span>
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-percent"></i> 年复合增长率：6.7%+</span>
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-globe"></i> 亚太市场份额：45%-50%</span>
+                    </div>
+                </div>
+                <div class="col-lg-4 text-center">
+                    <img src="https://picsum.photos/seed/ar-coating/400/300" alt="AR镀膜技术" class="img-fluid rounded-3 shadow-lg">
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 概述部分 -->
+    <section id="overview" class="py-5">
+        <div class="container">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="row">
+                <div class="col-lg-8">
+                    <div class="card">
+                        <div class="card-body">
+                            <p class="lead">AR镀膜技术正处于从技术突破向大规模商业化过渡的关键阶段，核心驱动力来自于AR眼镜等消费电子产品的快速普及和镀膜工艺的技术突破。</p>
+                            <p>随着iPhone17和Mate80等主流产品标配超硬AR镀膜，以及Facebook等巨头计划大规模出货智能眼镜，AR镀膜市场有望迎来爆发式增长，预计到2032年全球真空镀膜设备市场规模将保持<strong>6.7%以上</strong>的年复合增长率，其中亚太地区市场份额将达<strong>45%-50%</strong>。</p>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-lg-4">
+                    <div class="stat-card mb-3">
+                        <div class="stat-number">270亿</div>
+                        <div class="stat-label">2024年全球市场规模（美元）</div>
+                    </div>
+                    <div class="stat-card mb-3">
+                        <div class="stat-number">6.7%+</div>
+                        <div class="stat-label">年复合增长率</div>
+                    </div>
+                    <div class="stat-card">
+                        <div class="stat-number">1000万</div>
+                        <div class="stat-label">Facebook计划智能眼镜出货量</div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 时间轴部分 -->
+    <section id="timeline" class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">AR镀膜发展时间轴</h2>
+            <div class="timeline">
+                <div class="timeline-item">
+                    <div class="timeline-content">
+                        <div class="timeline-date">2024年1月</div>
+                        <h5>技术路线讨论</h5>
+                        <p>路演讨论AI眼镜的光学显示技术，Micro OLED和Micro LED+光波导成为主要技术路线</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-content">
+                        <div class="timeline-date">2024年6-7月</div>
+                        <h5>技术布局聚焦</h5>
+                        <p>多场路演聚焦AR镀膜技术，水晶光电、歌尔股份等公司详细介绍技术布局</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-content">
+                        <div class="timeline-date">2024年8月</div>
+                        <h5>键合工艺突破</h5>
+                        <p>路演讨论AR镀膜核心技术路径，键合工艺突破解决传统胶水贴合问题，良率提升至85%</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-content">
+                        <div class="timeline-date">2025年4月</div>
+                        <h5>设备需求增长</h5>
+                        <p>镜片抛光设备迎来重大量级加单；汇成真空业绩显示科研领域需求增长</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-content">
+                        <div class="timeline-date">2025年8月</div>
+                        <h5>市场热点形成</h5>
+                        <p>AR镀膜概念成为市场热点，消息称iPhone17和Mate80将标配超硬AR镀膜</p>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 核心驱动力 -->
+    <section id="drivers" class="py-5">
+        <div class="container">
+            <h2 class="section-title">核心驱动力分析</h2>
+            <div class="row g-4">
+                <div class="col-md-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h4 class="mb-0"><i class="bi bi-lightbulb"></i> 技术突破</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 键合工艺突破，良率提升至85%</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 镀膜工艺改进，解决漏光和彩虹效应</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 超硬AR镀膜技术成熟</li>
+                            </ul>
+                            <span class="badge badge-tech">技术驱动</span>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h4 class="mb-0"><i class="bi bi-currency-dollar"></i> 成本下降</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 量产前成本占比30%-60%</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 规模化生产带来成本下降</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 双目模组售价可降至千元左右</li>
+                            </ul>
+                            <span class="badge badge-app">商业化驱动</span>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h4 class="mb-0"><i class="bi bi-phone"></i> 应用需求增长</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> AR眼镜：Facebook计划出货1000万台</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 智能手机：iPhone17和Mate80标配</li>
+                                <li class="mb-2"><i class="bi bi-check-circle text-success"></i> 汽车领域：智能汽车车载显示系统</li>
+                            </ul>
+                            <span class="badge badge-opportunity">市场机会</span>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 产业链分析 -->
+    <section class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">产业链图谱</h2>
+            <div class="row">
+                <div class="col-lg-12">
+                    <div class="card">
+                        <div class="card-body">
+                            <div class="row text-center">
+                                <div class="col-md-4 mb-4">
+                                    <div class="p-4 border rounded">
+                                        <h4 class="text-primary">上游</h4>
+                                        <p class="mb-2">原材料和设备供应商</p>
+                                        <small>高透光率光学玻璃、镀膜材料、镀膜设备、键合设备</small>
+                                    </div>
+                                </div>
+                                <div class="col-md-4 mb-4">
+                                    <div class="p-4 border rounded bg-primary text-white">
+                                        <h4>中游</h4>
+                                        <p class="mb-2">AR镀膜技术和产品提供商</p>
+                                        <small>镀膜工艺和技术解决方案、AR镀膜玻璃、AR镀膜膜片</small>
+                                    </div>
+                                </div>
+                                <div class="col-md-4 mb-4">
+                                    <div class="p-4 border rounded">
+                                        <h4 class="text-primary">下游</h4>
+                                        <p class="mb-2">应用领域和终端产品</p>
+                                        <small>AR眼镜、智能手机、汽车显示系统、其他应用</small>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 股票数据表格 -->
+    <section id="stocks" class="py-5">
+        <div class="container">
+            <h2 class="section-title">AR镀膜概念相关股票</h2>
+            <div class="stock-table">
+                <table class="table table-hover mb-0">
+                    <thead>
+                        <tr>
+                            <th>股票名称</th>
+                            <th>技术/产品</th>
+                            <th>应用领域</th>
+                            <th>核心优势</th>
+                            <th>消息来源</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr>
+                            <td><strong>长信科技</strong></td>
+                            <td>AR减反射镀膜玻璃生产</td>
+                            <td>车载智能显示系统</td>
+                            <td>CG+FOG+后组BLU工艺，表面镀膜ARAF</td>
+                            <td><span class="badge bg-info">互动/官网</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>万顺新材</strong></td>
+                            <td>AR抗反射镀膜技术<br>玄武镀膜（超硬AR层）</td>
+                            <td>华为Mate 70系列</td>
+                            <td>为华为Mate 70系列提供"玄武镀膜"技术</td>
+                            <td><span class="badge bg-info">互动/网传纪要</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>信濠光电</strong></td>
+                            <td>超硬超耐磨AR镀膜玻璃产品及制备方法</td>
+                            <td>智能手机</td>
+                            <td>拥有相关发明专利，可能进入果链配套iPhone17</td>
+                            <td><span class="badge bg-warning">知识产权局</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>秦安股份</strong></td>
+                            <td>超硬AR镀膜</td>
+                            <td>智能汽车车载显示系统、全系列手机</td>
+                            <td>拟购亦高光电99%股权，AR镀膜已应用于多款智能汽车</td>
+                            <td><span class="badge bg-success">公告</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>日久光电</strong></td>
+                            <td>2A/3A光学膜系列产品</td>
+                            <td>多功能光学膜</td>
+                            <td>防反射（AR）、防眩光（AG）、防指纹污染（AF），部分客户认证通过</td>
+                            <td><span class="badge bg-info">互动</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>胜利精密</strong></td>
+                            <td>AR减反射镀膜</td>
+                            <td>汽车中控屏、笔记本电脑</td>
+                            <td>AR减反射镀膜产品应用于汽车中控屏及笔记本电脑等产品</td>
+                            <td><span class="badge bg-info">互动</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>炬光科技</strong></td>
+                            <td>光学镀膜技术</td>
+                            <td>高功率激光器件</td>
+                            <td>增透膜（AR）、高反射膜（HR），掌握多种先进光学镀膜技术</td>
+                            <td><span class="badge bg-info">互动</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>汇成真空</strong></td>
+                            <td>PVD镀膜设备</td>
+                            <td>显示产品保护屏</td>
+                            <td>通过真空反应溅射在玻璃表面镀制多层纳米光学材料形成减反射镀膜</td>
+                            <td><span class="badge bg-info">官网</span></td>
+                        </tr>
+                        <tr>
+                            <td><strong>莱宝高科</strong></td>
+                            <td>重庆超硬AR镀膜生产线技术改造</td>
+                            <td>超硬AR镀膜</td>
+                            <td>涉及超硬AR镀膜技术改造项目</td>
+                            <td><span class="badge bg-success">公告</span></td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </div>
+    </section>
+
+    <!-- 未来发展路径 -->
+    <section id="future" class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">未来发展路径</h2>
+            <div class="row g-4">
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h4 class="mb-0"><i class="bi bi-calendar-check"></i> 近期催化剂（3-6个月）</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-group list-group-flush">
+                                <li class="list-group-item d-flex align-items-center">
+                                    <i class="bi bi-phone-fill text-primary me-3"></i>
+                                    <div>
+                                        <h6 class="mb-1">iPhone17和Mate80发布</h6>
+                                        <small class="text-muted">标配超硬AR镀膜，推动技术商业化</small>
+                                    </div>
+                                </li>
+                                <li class="list-group-item d-flex align-items-center">
+                                    <i class="bi bi-box-seam text-primary me-3"></i>
+                                    <div>
+                                        <h6 class="mb-1">Facebook智能眼镜大规模出货</h6>
+                                        <small class="text-muted">计划出货1000万台，直接拉动AR镀膜需求</small>
+                                    </div>
+                                </li>
+                                <li class="list-group-item d-flex align-items-center">
+                                    <i class="bi bi-graph-up text-primary me-3"></i>
+                                    <div>
+                                        <h6 class="mb-1">镀膜设备企业业绩发布</h6>
+                                        <small class="text-muted">反映AR镀膜行业实际发展情况</small>
+                                    </div>
+                                </li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h4 class="mb-0"><i class="bi bi-rocket-takeoff"></i> 长期发展路径</h4>
+                        </div>
+                        <div class="card-body">
+                            <div class="mb-3">
+                                <h5 class="text-primary">技术成熟路径</h5>
+                                <div class="progress-steps">
+                                    <div class="d-flex align-items-center mb-2">
+                                        <span class="badge bg-secondary me-2">短期</span>
+                                        <span>解决技术瓶颈，提高良率</span>
+                                    </div>
+                                    <div class="d-flex align-items-center mb-2">
+                                        <span class="badge bg-primary me-2">中期</span>
+                                        <span>大规模商业化应用，降低成本</span>
+                                    </div>
+                                    <div class="d-flex align-items-center">
+                                        <span class="badge bg-success me-2">长期</span>
+                                        <span>成为消费电子标准配置</span>
+                                    </div>
+                                </div>
+                            </div>
+                            <div>
+                                <h5 class="text-primary">市场增长预期</h5>
+                                <p>2024年全球真空镀膜设备市场规模270亿美元，至2032年CAGR有望超6.7%，亚太地区市场份额将达45%-50%</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 风险与挑战 -->
+    <section id="risks" class="py-5">
+        <div class="container">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            <div class="row g-4">
+                <div class="col-md-4">
+                    <div class="card h-100 border-danger">
+                        <div class="card-header bg-danger text-white">
+                            <h4 class="mb-0"><i class="bi bi-exclamation-triangle"></i> 技术风险</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-danger"></i> 镀膜精度和良率挑战</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-danger"></i> 键合工艺量产难度大</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-danger"></i> 材料稳定性问题</li>
+                            </ul>
+                            <span class="badge badge-risk">高风险</span>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="card h-100 border-warning">
+                        <div class="card-header bg-warning text-dark">
+                            <h4 class="mb-0"><i class="bi bi-cash-stack"></i> 商业化风险</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-warning"></i> 成本仍然较高</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-warning"></i> 市场接受度不确定</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-warning"></i> 应用场景有限</li>
+                            </ul>
+                            <span class="badge bg-warning">中风险</span>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="card h-100 border-info">
+                        <div class="card-header bg-info text-white">
+                            <h4 class="mb-0"><i class="bi bi-globe"></i> 政策与竞争风险</h4>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-info"></i> 技术出口限制</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-info"></i> 行业竞争加剧</li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-info"></i> 技术路线竞争</li>
+                            </ul>
+                            <span class="badge bg-info">需关注</span>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 投资启示 -->
+    <section class="py-5 bg-white">
+        <div class="container">
+            <h2 class="section-title">投资启示</h2>
+            <div class="row">
+                <div class="col-lg-12">
+                    <div class="card">
+                        <div class="card-body">
+                            <div class="row">
+                                <div class="col-md-6">
+                                    <h4 class="text-primary mb-3">最具投资价值的细分环节</h4>
+                                    <div class="mb-3">
+                                        <h5><i class="bi bi-tools text-primary"></i> 镀膜设备</h5>
+                                        <p>随着AR镀膜技术的商业化，镀膜设备需求将大幅增长。汇成真空等国内领先的镀膜设备企业，受益于国产替代趋势，具有较大的成长空间。</p>
+                                    </div>
+                                    <div class="mb-3">
+                                        <h5><i class="bi bi-cpu text-primary"></i> 光波导技术</h5>
+                                        <p>光波导是AR眼镜的核心技术，水晶光电等在光波导领域具有技术优势的企业，将受益于AR眼镜的普及。</p>
+                                    </div>
+                                    <div>
+                                        <h5><i class="bi bi-shield-check text-primary"></i> 超硬AR镀膜</h5>
+                                        <p>超硬AR镀膜技术在智能手机、汽车等领域的应用前景广阔，信濠光电、万顺新材等在该领域具有技术优势的企业值得关注。</p>
+                                    </div>
+                                </div>
+                                <div class="col-md-6">
+                                    <h4 class="text-primary mb-3">投资策略建议</h4>
+                                    <div class="alert alert-primary d-flex align-items-center" role="alert">
+                                        <i class="bi bi-clock-history me-2"></i>
+                                        <div>
+                                            <strong>长期布局</strong><br>
+                                            <small>AR镀膜是一个长期趋势，投资者应有长期布局的心态</small>
+                                        </div>
+                                    </div>
+                                    <div class="alert alert-success d-flex align-items-center" role="alert">
+                                        <i class="bi bi-grid-3x3-gap me-2"></i>
+                                        <div>
+                                            <strong>分散投资</strong><br>
+                                            <small>在不同技术路线和应用场景中进行分散投资，降低风险</small>
+                                        </div>
+                                    </div>
+                                    <div class="alert alert-info d-flex align-items-center" role="alert">
+                                        <i class="bi bi-bell me-2"></i>
+                                        <div>
+                                            <strong>关注催化剂</strong><br>
+                                            <small>关注iPhone17、Mate70等产品的发布，以及Facebook智能眼镜的出货情况</small>
+                                        </div>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- 页脚 -->
+    <footer class="bg-dark text-white py-4">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <p class="mb-0">© 2025 AR镀膜概念分析 | 数据来源：公开资料整理</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">投资有风险，入市需谨慎</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 平滑滚动
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                document.querySelector(this.getAttribute('href')).scrollIntoView({
+                    behavior: 'smooth'
+                });
+            });
+        });
+
+        // 滚动时添加导航栏阴影
+        window.addEventListener('scroll', function() {
+            const navbar = document.querySelector('.navbar');
+            if (window.scrollY > 50) {
+                navbar.classList.add('shadow');
+            } else {
+                navbar.classList.remove('shadow');
+            }
+        });
+    </script>
+</body>
+</html>

public/htmls/ASIC.html

@@ -0,0 +1,713 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>ASIC概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.tailwindcss.com"></script>
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+    }
+    .section-card {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(100, 116, 139, 0.3);
+      transition: all 0.3s ease;
+    }
+    .section-card:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 20px 25px -5px rgba(0, 0, 0, 0.1), 0 10px 10px -5px rgba(0, 0, 0, 0.04);
+    }
+    .timeline-item {
+      position: relative;
+      padding-left: 30px;
+    }
+    .timeline-item::before {
+      content: '';
+      position: absolute;
+      left: 0;
+      top: 8px;
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background: #3b82f6;
+    }
+    .timeline-item::after {
+      content: '';
+      position: absolute;
+      left: 5px;
+      top: 20px;
+      width: 2px;
+      height: calc(100% + 10px);
+      background: #334155;
+    }
+    .timeline-item:last-child::after {
+      display: none;
+    }
+    .highlight-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      font-weight: 700;
+    }
+    .table-container {
+      overflow-x: auto;
+    }
+    table {
+      width: 100%;
+      border-collapse: collapse;
+    }
+    th, td {
+      padding: 12px 15px;
+      text-align: left;
+      border-bottom: 1px solid rgba(100, 116, 139, 0.3);
+    }
+    th {
+      background: rgba(51, 65, 85, 0.5);
+      font-weight: 600;
+      color: #93c5fd;
+    }
+    tr:hover {
+      background: rgba(51, 65, 85, 0.3);
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    .badge {
+      display: inline-block;
+      padding: 0.25rem 0.5rem;
+      font-size: 0.75rem;
+      font-weight: 600;
+      border-radius: 0.25rem;
+    }
+    .badge-blue {
+      background-color: rgba(59, 130, 246, 0.2);
+      color: #93c5fd;
+    }
+    .badge-purple {
+      background-color: rgba(139, 92, 246, 0.2);
+      color: #c4b5fd;
+    }
+    .badge-green {
+      background-color: rgba(34, 197, 94, 0.2);
+      color: #86efac;
+    }
+    .badge-orange {
+      background-color: rgba(249, 115, 22, 0.2);
+      color: #fdba74;
+    }
+  </style>
+</head>
+<body class="min-h-screen">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4">
+        <span class="highlight-text">ASIC</span> 概念分析报告
+      </h1>
+      <p class="text-lg text-slate-400 max-w-3xl mx-auto">
+        AI算力范式转移的核心载体，从替代GPU叙事进入订单兑现期
+      </p>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-blue-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 8v4l3 3m6-3a9 9 0 11-18 0 9 9 0 0118 0z" />
+        </svg>
+        概念事件时间轴
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-blue-300">时间轴梳理</h3>
+          <div class="space-y-4">
+            <div class="timeline-item">
+              <div class="font-semibold">2024年9月</div>
+              <p>西南证券首次提出"ASIC是AI算力范式转移的核心载体"</p>
+            </div>
+            <div class="timeline-item">
+              <div class="font-semibold">2024年12月</div>
+              <p>博通财报将2027年AI ASIC市场规模指引上调至<span class="text-green-400 font-bold">600-900亿美元</span></p>
+            </div>
+            <div class="timeline-item">
+              <div class="font-semibold">2025年3月</div>
+              <p>DeepSeek模型以<span class="text-green-400 font-bold">1/10成本</span>实现推理效果</p>
+            </div>
+            <div class="timeline-item">
+              <div class="font-semibold">2025年6月</div>
+              <p>台积电CoWoS产能分配显示，<span class="text-green-400 font-bold">ASIC占比将从2025年31%提升至2027年46%</span></p>
+            </div>
+            <div class="timeline-item">
+              <div class="font-semibold">2025年7月</div>
+              <p>谷歌披露AI推理Token量<span class="text-green-400 font-bold">50倍增长</span></p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-purple-300">催化事件</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <span class="badge badge-blue mr-2 mt-1">1</span>
+              <div>
+                <div class="font-semibold">技术验证</div>
+                <p>谷歌TPU v6e能效比H100高<span class="text-green-400 font-bold">67%</span>，亚马逊Trainium2训练成本降低<span class="text-green-400 font-bold">50%</span></p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-purple mr-2 mt-1">2</span>
+              <div>
+                <div class="font-semibold">政策倒逼</div>
+                <p>美国对华GPU出口管制，字节跳动/阿里等被迫转向国产ASIC</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-green mr-2 mt-1">3</span>
+              <div>
+                <div class="font-semibold">订单落地</div>
+                <p>Meta MTIA v2量产、微软Maia 200流片、OpenAI Titan芯片预定台积电3nm产能</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-purple-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12h6m-6 4h6m2 5H7a2 2 0 01-2-2V5a2 2 0 012-2h5.586a1 1 0 01.707.293l5.414 5.414a1 1 0 01.293.707V19a2 2 0 01-2 2z" />
+        </svg>
+        核心观点摘要
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-slate-800/50 p-5 rounded-lg">
+          <div class="text-blue-400 font-bold mb-2">阶段判断</div>
+          <p>ASIC已从"替代GPU的叙事"进入<span class="text-green-400 font-bold">订单兑现期</span>（2025年出货量预计<span class="text-green-400">277万颗→461万颗</span>），成为AI算力第二增长曲线。</p>
+        </div>
+        <div class="bg-slate-800/50 p-5 rounded-lg">
+          <div class="text-purple-400 font-bold mb-2">核心驱动力</div>
+          <p><span class="text-green-400 font-bold">成本指数级下降</span>（推理成本年降10倍）+ <span class="text-green-400 font-bold">CSP自研刚需</span>（摆脱英伟达依赖）+ <span class="text-green-400 font-bold">地缘政治催化</span>（国产替代）。</p>
+        </div>
+        <div class="bg-slate-800/50 p-5 rounded-lg">
+          <div class="text-green-400 font-bold mb-2">未来潜力</div>
+          <p>2028年市场规模<span class="text-green-400 font-bold">554亿美元</span>（Marvell预测），CAGR <span class="text-green-400 font-bold">53%</span>，远超GPU的<span class="text-yellow-400">21%</span>增速。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-green-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 10V3L4 14h7v7l9-11h-7z" />
+        </svg>
+        核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-blue-300">核心驱动力</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 mt-0.5 text-blue-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M5 13l4 4L19 7" />
+              </svg>
+              <div>
+                <div class="font-semibold">技术突破</div>
+                <p>ASIC通过<span class="text-green-400 font-bold">固化算子</span>实现单位算力成本仅为GPU的<span class="text-green-400 font-bold">1/5</span></p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 mt-0.5 text-blue-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M5 13l4 4L19 7" />
+              </svg>
+              <div>
+                <div class="font-semibold">需求裂变</div>
+                <p>推理算力需求因AI应用爆发呈<span class="text-green-400 font-bold">指数级增长</span>（谷歌Token量50倍↑）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <svg xmlns="http://www.w3.org/2000/svg" class="h-5 w-5 mr-2 mt-0.5 text-blue-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+                <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M5 13l4 4L19 7" />
+              </svg>
+              <div>
+                <div class="font-semibold">供应链重构</div>
+                <p>台积电CoWoS产能向ASIC倾斜（2027年占比46%）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-purple-300">预期差分析</h3>
+          <div class="space-y-3">
+            <div class="bg-red-900/20 p-3 rounded-lg border border-red-800/30">
+              <div class="font-semibold text-red-300">被高估</div>
+              <p>市场普遍认为ASIC将<span class="text-red-400 font-bold">全面替代GPU</span>，但路演显示<span class="text-red-400">训练端仍依赖GPU</span></p>
+            </div>
+            <div class="bg-green-900/20 p-3 rounded-lg border border-green-800/30">
+              <div class="font-semibold text-green-300">被低估</div>
+              <p><span class="text-green-400 font-bold">液冷配套</span>需求未被充分定价——ASIC机柜功耗达<span class="text-green-400 font-bold">170kW</span></p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-yellow-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M13 7h8m0 0v8m0-8l-8 8-4-4-6 6" />
+        </svg>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-blue-300">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <span class="badge badge-orange mr-2 mt-1">1</span>
+              <div>
+                <div class="font-semibold">2025Q4</div>
+                <p>谷歌TPU v6e大规模出货（<span class="text-green-400 font-bold">150万颗</span>），验证能效比优势</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-orange mr-2 mt-1">2</span>
+              <div>
+                <div class="font-semibold">2025Q4</div>
+                <p>AWS Trainium3液冷版本量产，单机柜<span class="text-green-400 font-bold">72颗ASIC</span>推动液冷产业链订单</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-orange mr-2 mt-1">3</span>
+              <div>
+                <div class="font-semibold">政策节点</div>
+                <p>美国对华GPU管制清单更新，国产ASIC或获<span class="text-green-400 font-bold">政府集采</span></p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-purple-300">长期路径</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="w-8 h-8 rounded-full bg-blue-500 flex items-center justify-center text-white font-bold mr-3">1</div>
+              <div>
+                <div class="font-semibold">2025-2026</div>
+                <p>CSP自研ASIC渗透率<span class="text-green-400 font-bold">30%→50%</span></p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="w-8 h-8 rounded-full bg-purple-500 flex items-center justify-center text-white font-bold mr-3">2</div>
+              <div>
+                <div class="font-semibold">2027-2028</div>
+                <p>ASIC与GPU形成<span class="text-green-400 font-bold">"训练-推理"分工</span></p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="w-8 h-8 rounded-full bg-green-500 flex items-center justify-center text-white font-bold mr-3">3</div>
+              <div>
+                <div class="font-semibold">2029+</div>
+                <p>存算一体ASIC可能颠覆现有架构</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-cyan-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M19 21V5a2 2 0 00-2-2H7a2 2 0 00-2 2v16m14 0h2m-2 0h-5m-9 0H3m2 0h5M9 7h1m-1 4h1m4-4h1m-1 4h1m-5 10v-5a1 1 0 011-1h2a1 1 0 011 1v5m-4 0h4" />
+        </svg>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-blue-300">产业链图谱</h3>
+        <div class="bg-slate-800/50 p-4 rounded-lg">
+          <div class="flex flex-wrap items-center justify-center gap-2 md:gap-4">
+            <span class="badge badge-blue">上游：台积电（CoWoS）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" />
+            </svg>
+            <span class="badge badge-blue">世芯-KY/创意（设计服务）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" />
+            </svg>
+            <span class="badge badge-blue">博通/Marvell（IP）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M19 9l-7 7-7-7" />
+            </svg>
+            <span class="badge badge-purple">中游：寒武纪/昆仑芯（国产ASIC）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" />
+            </svg>
+            <span class="badge badge-purple">英维克/高澜（液冷）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" />
+            </svg>
+            <span class="badge badge-purple">沪电股份（PCB）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M19 9l-7 7-7-7" />
+            </svg>
+            <span class="badge badge-green">下游：AWS/谷歌/微软（CSP）</span>
+            <svg xmlns="http://www.w3.org/2000/svg" class="h-4 w-4" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+              <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 5l7 7-7 7" />
+            </svg>
+            <span class="badge badge-green">字节跳动/阿里（国产需求）</span>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full">
+            <thead>
+              <tr>
+                <th class="text-left">公司</th>
+                <th class="text-left">角色</th>
+                <th class="text-left">竞争优势</th>
+                <th class="text-left">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr>
+                <td class="font-semibold">博通</td>
+                <td>全球ASIC龙头</td>
+                <td>谷歌/Meta订单锁定，2027年<span class="text-green-400 font-bold">500亿美元</span>收入指引</td>
+                <td>客户集中度过高（前3大客户占80%）</td>
+              </tr>
+              <tr>
+                <td class="font-semibold">世芯-KY</td>
+                <td>AWS核心供应商</td>
+                <td>Trainium3<span class="text-green-400 font-bold">独家设计权</span>，2026年营收弹性<span class="text-green-400">81%</span></td>
+                <td>7nm以下制程依赖台积电产能</td>
+              </tr>
+              <tr>
+                <td class="font-semibold">寒武纪</td>
+                <td>国产替代先锋</td>
+                <td>思元590已适配字节跳动推理集群</td>
+                <td>流片良率未验证，订单能见度低</td>
+              </tr>
+              <tr>
+                <td class="font-semibold">英维克</td>
+                <td>液冷配套龙头</td>
+                <td>UQD快接头切入英伟达MGX生态</td>
+                <td>海外客户认证周期长</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-red-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M12 9v2m0 4h.01m-6.938 4h13.856c1.54 0 2.502-1.667 1.732-3L13.732 4c-.77-1.333-2.694-1.333-3.464 0L3.34 16c-.77 1.333.192 3 1.732 3z" />
+        </svg>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-red-300">主要风险</h3>
+          <div class="space-y-3">
+            <div class="bg-red-900/20 p-3 rounded-lg border border-red-800/30">
+              <div class="font-semibold text-red-300">技术风险</div>
+              <p>ASIC<span class="text-red-400 font-bold">片间互联</span>仍落后NVLink（UA Link 1.0带宽仅为NVLink 5.0的<span class="text-red-400">7%</span>）</p>
+            </div>
+            <div class="bg-red-900/20 p-3 rounded-lg border border-red-800/30">
+              <div class="font-semibold text-red-300">商业化风险</div>
+              <p>Meta MTIA v2单卡功耗<span class="text-red-400 font-bold">90W</span>但算力仅<span class="text-red-400">177TFLOPS</span>，性价比存疑</p>
+            </div>
+            <div class="bg-red-900/20 p-3 rounded-lg border border-red-800/30">
+              <div class="font-semibold text-red-300">政策风险</div>
+              <p>美国或扩大对华ASIC设计服务管制（世芯-KY<span class="text-red-400 font-bold">70%收入</span>来自AWS）</p>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-4 text-yellow-300">信息矛盾</h3>
+          <div class="space-y-3">
+            <div class="bg-yellow-900/20 p-3 rounded-lg border border-yellow-800/30">
+              <div class="font-semibold text-yellow-300">矛盾点1</div>
+              <p>研报称"ASIC将替代GPU"，但路演显示<span class="text-yellow-400 font-bold">微软Maia 200仍需GPU协同训练</span></p>
+            </div>
+            <div class="bg-yellow-900/20 p-3 rounded-lg border border-yellow-800/30">
+              <div class="font-semibold text-yellow-300">矛盾点2</div>
+              <p>台积电数据与博通指引存在<span class="text-yellow-400 font-bold">10%产能缺口</span>（可能因Meta砍单）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-green-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 12l2 2 4-4m6 2a9 9 0 11-18 0 9 9 0 0118 0z" />
+        </svg>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <div class="bg-gradient-to-r from-blue-900/30 to-purple-900/30 p-5 rounded-lg border border-blue-700/30">
+          <div class="font-bold text-lg mb-2 text-green-300">阶段判断</div>
+          <p>ASIC处于<span class="text-green-400 font-bold">"订单兑现+技术验证"</span>过渡期，主题炒作风险已部分释放。</p>
+        </div>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6 mb-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-blue-300">高价值环节</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <span class="badge badge-blue mr-2 mt-1">1</span>
+              <div>
+                <div class="font-semibold">设计服务</div>
+                <p>世芯-KY（AWS Trainium3独家）> 创意（微软Maia 200）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-purple mr-2 mt-1">2</span>
+              <div>
+                <div class="font-semibold">液冷配套</div>
+                <p>英维克（UQD龙头）> 高澜股份（国产替代）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <span class="badge badge-green mr-2 mt-1">3</span>
+              <div>
+                <div class="font-semibold">国产ASIC</div>
+                <p>寒武纪（政策红利）> 芯原股份（IP授权）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div class="md:col-span-2">
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">关键跟踪指标</h3>
+          <div class="space-y-3">
+            <div class="bg-slate-800/50 p-3 rounded-lg">
+              <div class="font-semibold text-blue-300">2025Q4</div>
+              <p>谷歌TPU v6e出货量（验证能效比）</p>
+            </div>
+            <div class="bg-slate-800/50 p-3 rounded-lg">
+              <div class="font-semibold text-purple-300">2026Q1</div>
+              <p>AWS Trainium3流片良率（决定世芯-KY业绩弹性）</p>
+            </div>
+            <div class="bg-slate-800/50 p-3 rounded-lg">
+              <div class="font-semibold text-green-300">政策窗口</div>
+              <p>美国对华半导体管制清单更新（影响国产链估值）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="section-card rounded-xl p-6 mb-8">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <svg xmlns="http://www.w3.org/2000/svg" class="h-6 w-6 mr-2 text-cyan-400" fill="none" viewBox="0 0 24 24" stroke="currentColor">
+          <path stroke-linecap="round" stroke-linejoin="round" stroke-width="2" d="M9 19v-6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2a2 2 0 002-2zm0 0V9a2 2 0 012-2h2a2 2 0 012 2v10m-6 0a2 2 0 002 2h2a2 2 0 002-2m0 0V5a2 2 0 012-2h2a2 2 0 012 2v14a2 2 0 01-2 2h-2a2 2 0 01-2-2z" />
+        </svg>
+        关联股票数据
+      </h2>
+      
+      <div class="table-container">
+        <table class="w-full">
+          <thead>
+            <tr>
+              <th class="text-left">股票名称</th>
+              <th class="text-left">项目</th>
+              <th class="text-left">行业</th>
+              <th class="text-left">产业链</th>
+              <th class="text-left">关联原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="font-semibold">润欣科技</td>
+              <td>Chiplet互联产品、AI算力芯片</td>
+              <td>ASIC定制、算法设计</td>
+              <td>芯片交付与行业组合方案</td>
+              <td>公司与奇景摩尔合作开展Chiplet互联产品和AI算力芯片等领域合作</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">芯海科技</td>
+              <td>数模混合IC、通信用ASIC芯片</td>
+              <td>交换机等产品开发</td>
+              <td>数模混合IC技术研发</td>
+              <td>公司创始人曾任华为基础部副总工程师，带领团队研发交换机等产品</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">芯原股份</td>
+              <td>IP Power House</td>
+              <td>ASIC定制量产</td>
+              <td>-</td>
+              <td>公司致力于打造顶级的IP Power House，并基于此提供ASIC定制量产服务</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">瑞芯微</td>
+              <td>接口转换芯片、无线连接芯片、MCU芯片</td>
+              <td>ASIC芯片设计</td>
+              <td>-</td>
+              <td>公司提供针对特定功能设计的ASIC芯片</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">芯动联科</td>
+              <td>配套ASIC芯片</td>
+              <td>算法配套芯片</td>
+              <td>ASIC模块参数调整</td>
+              <td>公司自主研发了拥有完整、成熟算法的配套ASIC芯片</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">富满微</td>
+              <td>-</td>
+              <td>ASIC芯片供应</td>
+              <td>-</td>
+              <td>公司提供各类ASIC等芯片</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">铂科新材</td>
+              <td>金属软磁复合材料</td>
+              <td>芯片电感</td>
+              <td>芯片前端供电</td>
+              <td>公司针对芯片电感开发出适用开关频率可达5khz~10Mhz的金属软磁复合材料</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">寒武纪</td>
+              <td>ASIC类型芯片</td>
+              <td>人工智能芯片设计</td>
+              <td>-</td>
+              <td>专注于人工智能芯片的设计，产品包括ASIC类型的芯片</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">睿创微纳</td>
+              <td>ASIC处理器芯片</td>
+              <td>红外产品</td>
+              <td>-</td>
+              <td>提供ASIC处理器芯片，自研ASIC芯片批量导入户外产品</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">中微半导</td>
+              <td>ICU、80C芯片</td>
+              <td>ASIC芯片研发</td>
+              <td>-</td>
+              <td>研发储备类资源的ICU、80C和ASIC芯片</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">翱捷科技</td>
+              <td>-</td>
+              <td>IC设计</td>
+              <td>ASIC团队技术实力</td>
+              <td>公司具备多名IC设计专家和验证专家，ASIC团队有很强的设计技术实力</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">灿芯股份</td>
+              <td>一站式芯片定制服务</td>
+              <td>先进工艺设计</td>
+              <td>芯片定制经验</td>
+              <td>背靠中芯国际一站式芯片定制服务，是境内少数具有先进工艺全流程设计能力的企业</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">淳中科技</td>
+              <td>自研ASIC芯片</td>
+              <td>-</td>
+              <td>-</td>
+              <td>自研ASIC芯片正在进行相关测试工作</td>
+            </tr>
+            <tr>
+              <td class="font-semibold">全志科技</td>
+              <td>智能终端处理器芯片</td>
+              <td>AIoT芯片</td>
+              <td>-</td>
+              <td>各系列智能终端处理器芯片属于ASIC芯片</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      fpsLimit: 60,
+      particles: {
+        color: {
+          value: "#3b82f6",
+        },
+        links: {
+          color: "#3b82f6",
+          distance: 150,
+          enable: true,
+          opacity: 0.2,
+          width: 1,
+        },
+        move: {
+          direction: "none",
+          enable: true,
+          outModes: {
+            default: "bounce",
+          },
+          random: false,
+          speed: 1,
+          straight: false,
+        },
+        number: {
+          density: {
+            enable: true,
+            area: 800,
+          },
+          value: 80,
+        },
+        opacity: {
+          value: 0.2,
+        },
+        shape: {
+          type: "circle",
+        },
+        size: {
+          value: { min: 1, max: 3 },
+        },
+      },
+      detectRetina: true,
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/DeepSeek FP8 .html

@@ -0,0 +1,963 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>DeepSeek FP8概念分析</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0-alpha1/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #0d6efd;
+            --secondary-color: #6c757d;
+            --success-color: #198754;
+            --info-color: #0dcaf0;
+            --warning-color: #ffc107;
+            --danger-color: #dc3545;
+            --light-color: #f8f9fa;
+            --dark-color: #212529;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;
+            color: #333;
+            background-color: #f8f9fa;
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, #0d6efd 0%, #0a58ca 100%);
+            color: white;
+            padding: 3rem 0;
+            margin-bottom: 2rem;
+        }
+        
+        .card {
+            border: none;
+            border-radius: 10px;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.1);
+            margin-bottom: 1.5rem;
+            transition: transform 0.3s ease;
+        }
+        
+        .card:hover {
+            transform: translateY(-5px);
+        }
+        
+        .card-header {
+            background-color: #f8f9fa;
+            border-bottom: 1px solid rgba(0, 0, 0, 0.125);
+            font-weight: 600;
+        }
+        
+        .timeline {
+            position: relative;
+            padding-left: 30px;
+        }
+        
+        .timeline::before {
+            content: '';
+            position: absolute;
+            left: 0;
+            top: 0;
+            height: 100%;
+            width: 2px;
+            background: #0d6efd;
+        }
+        
+        .timeline-item {
+            position: relative;
+            margin-bottom: 20px;
+        }
+        
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            left: -34px;
+            top: 5px;
+            height: 12px;
+            width: 12px;
+            border-radius: 50%;
+            background: #0d6efd;
+            border: 2px solid white;
+        }
+        
+        .stock-table {
+            width: 100%;
+            overflow-x: auto;
+        }
+        
+        .stock-table th {
+            background-color: #0d6efd;
+            color: white;
+            position: sticky;
+            top: 0;
+        }
+        
+        .badge-category {
+            font-size: 0.75rem;
+            padding: 0.25rem 0.5rem;
+        }
+        
+        .section-title {
+            position: relative;
+            padding-bottom: 10px;
+            margin-bottom: 20px;
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 50px;
+            height: 3px;
+            background-color: #0d6efd;
+        }
+        
+        .highlight-box {
+            background-color: rgba(13, 110, 253, 0.1);
+            border-left: 4px solid #0d6efd;
+            padding: 15px;
+            margin-bottom: 20px;
+        }
+        
+        .risk-high {
+            border-left-color: #dc3545;
+            background-color: rgba(220, 53, 69, 0.1);
+        }
+        
+        .risk-medium {
+            border-left-color: #ffc107;
+            background-color: rgba(255, 193, 7, 0.1);
+        }
+        
+        .risk-low {
+            border-left-color: #198754;
+            background-color: rgba(25, 135, 84, 0.1);
+        }
+        
+        .company-card {
+            border-left: 4px solid #0d6efd;
+            margin-bottom: 15px;
+        }
+        
+        .company-card.leader {
+            border-left-color: #198754;
+        }
+        
+        .company-card.challenger {
+            border-left-color: #ffc107;
+        }
+        
+        .company-card.pure {
+            border-left-color: #dc3545;
+        }
+        
+        .nav-pills .nav-link.active {
+            background-color: #0d6efd;
+        }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .stock-table {
+                font-size: 0.8rem;
+            }
+            
+            .card-body {
+                padding: 1rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- Hero Section -->
+    <div class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-md-8">
+                    <h1 class="display-4 fw-bold mb-3">DeepSeek FP8概念分析</h1>
+                    <p class="lead">低精度浮点数格式推动国产AI训练推理技术突破</p>
+                </div>
+                <div class="col-md-4 text-md-end">
+                    <div class="d-flex align-items-center justify-content-md-end mt-3 mt-md-0">
+                        <i class="bi bi-cpu fs-1 me-3"></i>
+                        <div>
+                            <div class="fs-4 fw-bold">557万美金</div>
+                            <div>DeepSeek V3训练成本</div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <div class="container mb-5">
+        <!-- 概念介绍 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">概念介绍</h2>
+            </div>
+            <div class="card-body">
+                <div class="row">
+                    <div class="col-md-8">
+                        <p>DeepSeek FP8是一种低精度浮点数格式，用于大模型的训练和推理。FP8（8位浮点数）相比传统的FP16（16位浮点数）和FP32（32位浮点数）可以大幅降低算力需求、显存占用和通信带宽。</p>
+                        <p>UE8M0是FP8的一种特殊格式，无符号，8位指数，0位尾数，只能表示2的n次方，这种格式可以将神经网络中的乘法运算转化为更简单的加法运算，大幅提升计算效率。</p>
+                    </div>
+                    <div class="col-md-4">
+                        <div class="highlight-box">
+                            <h5 class="fw-bold">技术优势</h5>
+                            <ul class="mb-0">
+                                <li>相比FP16节约一半算力/显存/带宽</li>
+                                <li>相比FP32节约3/4资源</li>
+                                <li>UE8M0格式乘法比其他FP8快数倍</li>
+                                <li>显著节约芯片面积</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 核心观点摘要 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">核心观点摘要</h2>
+            </div>
+            <div class="card-body">
+                <div class="highlight-box">
+                    <p class="mb-0">DeepSeek FP8代表了国产AI训练推理技术的重要突破，通过低精度混合训练显著降低算力需求与成本，同时推动国产芯片生态协同发展。目前该概念处于技术验证向商业化过渡的关键阶段，核心驱动力在于算力成本下降与国产替代加速，未来潜力在于构建完整的国产AI软硬件生态体系。</p>
+                </div>
+            </div>
+        </div>
+
+        <!-- 概念事件时间轴 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">概念事件时间轴</h2>
+            </div>
+            <div class="card-body">
+                <div class="timeline">
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年1月27日</div>
+                        <div>路演中提到DeepSeek采用FP8混合精度进行训练，降低训练成本。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月1日</div>
+                        <div>路演中提到DPDK（DeepSeek）V3版本通过FP8低精度训练实现显著降本。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月4日</div>
+                        <div>路演中提到FP8技术的未开源性及与低成本技术路径的关联。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月4日</div>
+                        <div>路演中提到DeepSeek首次在大规模模型上验证了FP8训练的可行性和有效性。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月5日</div>
+                        <div>路演中提到FP8在训练层的首次应用及训练端与推理端的FP8关联。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月9日</div>
+                        <div>路演中提到FP8技术的特性与应用限制，以及DeepSeek在FP8训练中的优化措施。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年2月13日</div>
+                        <div>路演中提到FP8的核心作用、技术来源与应用及对未来模型的潜在影响。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年8月21日</div>
+                        <div>DeepSeek发布V3.1版本，使用UE8M0 FP8 Scale参数精度。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年8月21日-22日</div>
+                        <div>多家券商发布研报，分析DeepSeek FP8对国产算力的影响。</div>
+                    </div>
+                    <div class="timeline-item">
+                        <div class="fw-bold">2025年8月22日</div>
+                        <div>路演中提到华为下一代芯片将支持FP8精度，预计第四季度送测厂商。</div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 核心逻辑与市场认知分析 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">核心逻辑与市场认知分析</h2>
+            </div>
+            <div class="card-body">
+                <ul class="nav nav-pills mb-3" id="pills-tab" role="tablist">
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link active" id="pills-drivers-tab" data-bs-toggle="pill" data-bs-target="#pills-drivers" type="button" role="tab" aria-controls="pills-drivers" aria-selected="true">核心驱动力</button>
+                    </li>
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link" id="pills-sentiment-tab" data-bs-toggle="pill" data-bs-target="#pills-sentiment" type="button" role="tab" aria-controls="pills-sentiment" aria-selected="false">市场热度与情绪</button>
+                    </li>
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link" id="pills-gap-tab" data-bs-toggle="pill" data-bs-target="#pills-gap" type="button" role="tab" aria-controls="pills-gap" aria-selected="false">预期差分析</button>
+                    </li>
+                </ul>
+                <div class="tab-content" id="pills-tabContent">
+                    <div class="tab-pane fade show active" id="pills-drivers" role="tabpanel" aria-labelledby="pills-drivers-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">技术突破</h5>
+                                        <p class="card-text">DeepSeek成功解决了FP8在训练场景中容易导致模型不收敛的问题，通过细粒度控制低精度方法和底层指令选择，实现了FP8在大规模模型训练中的可行性和有效性。这一技术突破大幅降低了训练成本，DeepSeek V3的训练成本约为557万美金，相比其他"数亿美金训练成本"的模型具有极大成本优势。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">成本下降</h5>
+                                        <p class="card-text">FP8混合精度训练通过降低计算和存储需求、提高训练速度，直接推动训练成本降低。相比FP16，FP8可以节约一半算力/显存容量/通信带宽，相比FP32能节约3/4。UE8M0格式的乘法比其他FP8快数倍，且明显节约芯片面积。这种成本下降使得更多企业能够负担大模型的训练和部署，推动了AI技术的普及。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">国产替代</h5>
+                                        <p class="card-text">UE8M0 FP8是针对即将发布的下一代国产芯片设计的，这一技术路径与国产芯片的发展方向高度契合。华为、寒武纪、摩尔线程等国产芯片厂商纷纷宣布支持FP8精度，有望缩小与英伟达等国际巨头的差距，推动国产算力的自主可控。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">生态协同</h5>
+                                        <p class="card-text">DeepSeek通过DeepGEMM开源库公开了FP8的实现，促进了整个生态的发展。同时，多家国产芯片厂商、软件厂商和硬件厂商围绕FP8形成协同效应，共同推动国产AI生态的完善。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="tab-pane fade" id="pills-sentiment" role="tabpanel" aria-labelledby="pills-sentiment-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">市场热度</h5>
+                                        <p class="card-text">从新闻和研报的密集度来看，市场对DeepSeek FP8概念的关注度较高，情绪整体偏向乐观。2025年8月21日DeepSeek发布V3.1版本后，多家券商迅速发布研报分析其影响，中信计算机、民生电子等机构明确看好"国产算力与国产模型合力支撑下的中国AI产业"。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">谨慎声音</h5>
+                                        <p class="card-text">路演中提到，国产芯片支持FP8的厂商较少，即使支持，迁移DeepSeek的优化措施也非常困难。此外，FP8在训练场景中的应用仍面临技术挑战，如上溢和下溢问题，需要通过DBC（模型缩放、变量缩放及GPU调度优化）等技术解决。这些因素导致部分市场参与者对FP8技术的实际应用效果持保留态度。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="tab-pane fade" id="pills-gap" role="tabpanel" aria-labelledby="pills-gap-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">技术成熟度预期差</h5>
+                                        <p class="card-text">研报和新闻中普遍强调FP8技术的优势和应用前景，但路演中显示FP8在训练场景中容易导致模型不收敛，国产芯片支持FP8的厂商较少，即使支持，迁移DeepSeek的优化措施也非常困难。这表明FP8技术的实际应用难度可能被市场低估。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">商业化进程预期差</h5>
+                                        <p class="card-text">研报和新闻中普遍看好FP8技术的商业化前景，但路演中提到华为下一代芯片（可能命名为910x）将支持FP8精度，预计第四季度送测厂商，寒武纪690已顺利流片并进入到云商测试，但大规模商业化应用仍需时间。这表明FP8技术的商业化进程可能比市场预期的要慢。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">国产替代程度预期差</h5>
+                                        <p class="card-text">研报和新闻中普遍强调FP8技术对国产算力的推动作用，但路演中提到国产GPU架构自主可控问题：计算公司公告称"力争解决"，实际未完全自主（采用Imagination IP）。这表明国产芯片的自主可控程度可能被市场高估。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">成本降低幅度预期差</h5>
+                                        <p class="card-text">研报和新闻中普遍强调FP8技术可以大幅降低训练成本，但路演中提到DeepSeek训练一次的成本约为OpenAI的2%左右（并非某些自媒体所说的1%）。这表明FP8技术降低成本的幅度可能被市场夸大。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 关键催化剂与未来发展路径 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">关键催化剂与未来发展路径</h2>
+            </div>
+            <div class="card-body">
+                <ul class="nav nav-pills mb-3" id="pills-catalyst-tab" role="tablist">
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link active" id="pills-catalyst-now-tab" data-bs-toggle="pill" data-bs-target="#pills-catalyst-now" type="button" role="tab" aria-controls="pills-catalyst-now" aria-selected="true">近期催化剂</button>
+                    </li>
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link" id="pills-catalyst-future-tab" data-bs-toggle="pill" data-bs-target="#pills-catalyst-future" type="button" role="tab" aria-controls="pills-catalyst-future" aria-selected="false">长期发展路径</button>
+                    </li>
+                </ul>
+                <div class="tab-content" id="pills-catalyst-tabContent">
+                    <div class="tab-pane fade show active" id="pills-catalyst-now" role="tabpanel" aria-labelledby="pills-catalyst-now-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">华为下一代芯片发布</h5>
+                                        <p class="card-text">路演中提到华为下一代芯片（可能命名为910x）将支持FP8精度，预计第四季度送测厂商。这一事件将是推动DeepSeek FP8概念发展的重要催化剂。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">寒武纪690大规模出货</h5>
+                                        <p class="card-text">民生电子研报提到寒武纪690已顺利流片并进入到云商测试，反馈较好，预计整体出货25年20W，26年50W张。寒武纪690的大规模出货将验证FP8技术在商业应用中的可行性。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">昇腾910D系列量产</h5>
+                                        <p class="card-text">民生电子研报提到昇腾910D及920系列支持FP8，当前910D已成功回片进入到云商测试，预计910D系列26年30W张出货。昇腾910D系列的量产将进一步推动FP8技术的普及。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-body">
+                                        <h5 class="card-title">DeepSeek V3.1广泛应用</h5>
+                                        <p class="card-text">DeepSeek V3.1使用了UE8M0 FP8 Scale的参数精度，如果这一版本在市场上获得广泛应用，将验证FP8技术的实际效果，推动更多厂商采用这一技术。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="tab-pane fade" id="pills-catalyst-future" role="tabpanel" aria-labelledby="pills-catalyst-future-tab">
+                        <div class="row">
+                            <div class="col-md-3 mb-3">
+                                <div class="card h-100 text-center">
+                                    <div class="card-body">
+                                        <div class="fs-1 text-primary mb-3">2025-2026</div>
+                                        <h5 class="card-title">技术成熟阶段</h5>
+                                        <p class="card-text">FP8技术将逐步成熟，更多的国产芯片厂商将支持FP8精度，软件框架和工具链将逐步完善。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-3 mb-3">
+                                <div class="card h-100 text-center">
+                                    <div class="card-body">
+                                        <div class="fs-1 text-primary mb-3">2026-2027</div>
+                                        <h5 class="card-title">生态建设阶段</h5>
+                                        <p class="card-text">FP8技术将形成完整的生态体系，包括芯片、软件框架、开发工具、应用等多个环节。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-3 mb-3">
+                                <div class="card h-100 text-center">
+                                    <div class="card-body">
+                                        <div class="fs-1 text-primary mb-3">2027-2028</div>
+                                        <h5 class="card-title">规模化应用阶段</h5>
+                                        <p class="card-text">FP8技术将实现规模化应用，成为AI训练和推理的主流技术之一。国产算力将实现自主可控。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-3 mb-3">
+                                <div class="card h-100 text-center">
+                                    <div class="card-body">
+                                        <div class="fs-1 text-primary mb-3">2028+</div>
+                                        <h5 class="card-title">创新发展阶段</h5>
+                                        <p class="card-text">FP8技术将进一步创新和发展，可能出现更低精度但更高效率的技术。国产AI技术将实现全面领先。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="mt-4">
+                            <h5 class="section-title">关键里程碑</h5>
+                            <ul>
+                                <li>2025年Q4：华为下一代芯片送测厂商</li>
+                                <li>2026年：寒武纪690大规模出货（预计20W张）</li>
+                                <li>2026年：昇腾910D系列量产（预计30W张）</li>
+                                <li>2027年：FP8技术生态体系基本形成</li>
+                                <li>2028年：FP8技术实现规模化应用</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 产业链与核心公司深度剖析 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">产业链与核心公司深度剖析</h2>
+            </div>
+            <div class="card-body">
+                <div class="row mb-4">
+                    <div class="col-md-12">
+                        <h5 class="section-title">产业链图谱</h5>
+                        <div class="row">
+                            <div class="col-md-4 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-header bg-primary text-white">
+                                        上游（芯片设计与制造）
+                                    </div>
+                                    <div class="card-body">
+                                        <ul class="mb-0">
+                                            <li><strong>芯片设计</strong>：寒武纪、芯原股份、中兴通讯（中兴微）</li>
+                                            <li><strong>芯片制造</strong>：中芯国际</li>
+                                            <li><strong>存储芯片</strong>：兆易创新</li>
+                                        </ul>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-4 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-header bg-info text-white">
+                                        中游（算力硬件与软件）
+                                    </div>
+                                    <div class="card-body">
+                                        <ul class="mb-0">
+                                            <li><strong>GPU芯片</strong>：摩尔线程、华为昇腾</li>
+                                            <li><strong>服务器与系统集成</strong>：智微智能</li>
+                                            <li><strong>AI软件框架</strong>：DeepSeek、中昊芯英</li>
+                                        </ul>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-4 mb-3">
+                                <div class="card h-100">
+                                    <div class="card-header bg-success text-white">
+                                        下游（应用与服务）
+                                    </div>
+                                    <div class="card-body">
+                                        <ul class="mb-0">
+                                            <li><strong>AI应用</strong>：佳都科技、大华股份、理工能科</li>
+                                            <li><strong>云服务</strong>：首都在线</li>
+                                            <li><strong>行业解决方案</strong>：科德教育、艾布鲁</li>
+                                        </ul>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+
+                <div class="row">
+                    <div class="col-md-12">
+                        <h5 class="section-title">核心玩家对比</h5>
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="company-card leader card h-100">
+                                    <div class="card-body">
+                                        <div class="d-flex justify-content-between align-items-start mb-2">
+                                            <h5 class="card-title mb-0">寒武纪</h5>
+                                            <span class="badge bg-success">领导者</span>
+                                        </div>
+                                        <h6 class="text-success">竞争优势</h6>
+                                        <p>寒武纪580及下一代产品690均支持FP8，690已顺利流片并进入到云商测试，反馈较好。公司在AI芯片领域有深厚积累，技术领先。</p>
+                                        <h6 class="text-success">业务进展</h6>
+                                        <p>预计690整体出货25年20W，26年50W张，显示出良好的商业化前景。</p>
+                                        <h6 class="text-danger">潜在风险</h6>
+                                        <p>芯片设计制造周期长，投资大，回报周期长；国际竞争激烈，面临英伟达等巨头的压力。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="company-card leader card h-100">
+                                    <div class="card-body">
+                                        <div class="d-flex justify-content-between align-items-start mb-2">
+                                            <h5 class="card-title mb-0">华为昇腾</h5>
+                                            <span class="badge bg-success">领导者</span>
+                                        </div>
+                                        <h6 class="text-success">竞争优势</h6>
+                                        <p>华为在AI领域有全栈布局，从芯片到软件框架到应用场景，生态完整。910D及920系列支持FP8，910D已成功回片进入到云商测试。</p>
+                                        <h6 class="text-success">业务进展</h6>
+                                        <p>预计910D系列26年30W张出货，商业化前景良好。华为生态软件适配更优，在国产芯片中具有明显优势。</p>
+                                        <h6 class="text-danger">潜在风险</h6>
+                                        <p>国际制裁影响供应链；路演中提到当前910B库存积压，主要用于推理而非训练，产品结构需要调整。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="company-card challenger card h-100">
+                                    <div class="card-body">
+                                        <div class="d-flex justify-content-between align-items-start mb-2">
+                                            <h5 class="card-title mb-0">摩尔线程</h5>
+                                            <span class="badge bg-warning">追赶者</span>
+                                        </div>
+                                        <h6 class="text-success">竞争优势</h6>
+                                        <p>第四代GPU芯片增加了FP8精度支持，大幅提升AI算力。融资70亿，软件生态是优势。</p>
+                                        <h6 class="text-success">业务进展</h6>
+                                        <p>基于该芯片支撑面向DeepSeek类前沿大模型预训练的万卡集群智算中心解决方案，应用场景明确。</p>
+                                        <h6 class="text-danger">潜在风险</h6>
+                                        <p>路演中提到"技术门槛低（对比计算、汉博等竞品）"，技术优势可能不明显；GPU领域竞争激烈，面临英伟达、AMD等国际巨头的压力。</p>
+                                    </div>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="company-card pure card h-100">
+                                    <div class="card-body">
+                                        <div class="d-flex justify-content-between align-items-start mb-2">
+                                            <h5 class="card-title mb-0">中昊芯英</h5>
+                                            <span class="badge bg-danger">逻辑最纯粹</span>
+                                        </div>
+                                        <h6 class="text-success">竞争优势</h6>
+                                        <p>把DeepSeek-V3系列模型（包括UE8MO FP8 Scale精度配置）作为重点优化对象，宣称在计算精度、模型运行稳定性、协同效率等指标上全部达标，技术专注度高。</p>
+                                        <h6 class="text-success">业务进展</h6>
+                                        <p>通过科德教育、艾布鲁等上市公司获得资金支持，发展前景良好。</p>
+                                        <h6 class="text-danger">潜在风险</h6>
+                                        <p>规模相对较小，资源有限；技术实力与寒武纪、华为等巨头相比有差距。</p>
+                                    </div>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 潜在风险与挑战 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">潜在风险与挑战</h2>
+            </div>
+            <div class="card-body">
+                <ul class="nav nav-pills mb-3" id="pills-risk-tab" role="tablist">
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link active" id="pills-risk-tech-tab" data-bs-toggle="pill" data-bs-target="#pills-risk-tech" type="button" role="tab" aria-controls="pills-risk-tech" aria-selected="true">技术风险</button>
+                    </li>
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link" id="pills-risk-business-tab" data-bs-toggle="pill" data-bs-target="#pills-risk-business" type="button" role="tab" aria-controls="pills-risk-business" aria-selected="false">商业化风险</button>
+                    </li>
+                    <li class="nav-item" role="presentation">
+                        <button class="nav-link" id="pills-risk-policy-tab" data-bs-toggle="pill" data-bs-target="#pills-risk-policy" type="button" role="tab" aria-controls="pills-risk-policy" aria-selected="false">政策与竞争风险</button>
+                    </li>
+                </ul>
+                <div class="tab-content" id="pills-risk-tabContent">
+                    <div class="tab-pane fade show active" id="pills-risk-tech" role="tabpanel" aria-labelledby="pills-risk-tech-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-high">
+                                    <h5 class="fw-bold">模型收敛问题</h5>
+                                    <p class="mb-0">路演中提到，FP8在训练场景中容易导致模型不收敛，因此难以广泛应用。虽然DeepSeek成功解决了这一问题，但国产芯片使用FP8训练时，能否实现模型收敛仍存在不确定性。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">精度损失问题</h5>
+                                    <p class="mb-0">FP8相比FP16和FP32会有精度损失，在某些对精度要求高的场景可能不适用。路演中提到FP8和BF16精度在训练中效果接近（差异仅为0.25%），但这一差异在某些应用场景可能是关键的。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">技术适配难度</h5>
+                                    <p class="mb-0">FP8技术需要与芯片硬件、软件框架等多方面适配，这一过程复杂且耗时。路演中提到，即使国产芯片支持FP8，迁移DeepSeek的优化措施也非常困难。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-low">
+                                    <h5 class="fw-bold">技术迭代风险</h5>
+                                    <p class="mb-0">AI技术发展迅速，FP8可能只是过渡技术，未来可能出现更低精度（如FP6、FP4）但更高效率的技术，使当前投资面临淘汰风险。</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="tab-pane fade" id="pills-risk-business" role="tabpanel" aria-labelledby="pills-risk-business-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">成本控制问题</h5>
+                                    <p class="mb-0">虽然FP8技术可以降低训练和推理成本，但芯片设计制造本身成本高昂，如何在保证性能的同时控制成本是一个挑战。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">市场接受度</h5>
+                                    <p class="mb-0">FP8技术是一种新技术，市场接受度需要时间培养。特别是在企业级市场，客户对新技术往往持谨慎态度。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-low">
+                                    <h5 class="fw-bold">应用场景限制</h5>
+                                    <p class="mb-0">FP8技术虽然在训练和推理中具有优势，但在某些对精度要求高的场景可能不适用，这限制了其应用范围。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">投资回报周期</h5>
+                                    <p class="mb-0">芯片设计制造周期长，投资大，回报周期长。特别是在当前经济环境下，长期投资面临更多不确定性。</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="tab-pane fade" id="pills-risk-policy" role="tabpanel" aria-labelledby="pills-risk-policy-tab">
+                        <div class="row">
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-high">
+                                    <h5 class="fw-bold">国际制裁风险</h5>
+                                    <p class="mb-0">华为等公司面临国际制裁，可能影响其供应链和技术发展。路演中提到"国际制裁影响供应链"，这是一个重要风险点。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-medium">
+                                    <h5 class="fw-bold">国际竞争压力</h5>
+                                    <p class="mb-0">英伟达等国际巨头也在积极推动FP8等低精度技术的发展，国产芯片在这一领域面临激烈竞争。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-low">
+                                    <h5 class="fw-bold">政策变动风险</h5>
+                                    <p class="mb-0">虽然当前政策支持国产算力发展，但政策方向可能发生变化，影响行业发展。</p>
+                                </div>
+                            </div>
+                            <div class="col-md-6 mb-3">
+                                <div class="highlight-box risk-low">
+                                    <h5 class="fw-bold">标准竞争风险</h5>
+                                    <p class="mb-0">FP8有多种格式（如E4M3、E5M2、UE8M0等），不同格式的竞争可能导致市场分裂，增加开发成本。</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 综合结论与投资启示 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">综合结论与投资启示</h2>
+            </div>
+            <div class="card-body">
+                <div class="row">
+                    <div class="col-md-6 mb-3">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <h5 class="card-title">综合结论</h5>
+                                <p>DeepSeek FP8概念目前处于技术验证向商业化过渡的关键阶段。从技术角度看，FP8低精度训练确实能够显著降低算力需求和成本，DeepSeek成功解决了FP8在训练场景中的收敛问题，验证了技术的可行性。从产业化角度看，华为、寒武纪、摩尔线程等国产芯片厂商纷纷布局FP8技术，产品逐步进入测试和量产阶段，商业化进程正在推进。从市场角度看，FP8技术获得了券商和媒体的广泛关注，市场情绪整体偏向乐观。</p>
+                                <p>然而，FP8技术仍面临技术适配难度大、商业化进程不确定、国际竞争激烈等挑战。国产芯片的自主可控程度、FP8技术的实际效果、商业化进程的速度等关键问题仍需进一步验证。因此，DeepSeek FP8概念目前仍具有一定程度的主题炒作特征，但已经开始向基本面驱动阶段过渡。</p>
+                            </div>
+                        </div>
+                    </div>
+                    <div class="col-md-6 mb-3">
+                        <div class="card h-100">
+                            <div class="card-body">
+                                <h5 class="card-title">投资启示</h5>
+                                <h6>最具投资价值的细分环节</h6>
+                                <ul>
+                                    <li><strong>芯片设计</strong>：寒武纪、芯原股份等芯片设计公司在FP8技术上有明确布局，产品已进入测试和量产阶段，商业化前景清晰。</li>
+                                    <li><strong>算力硬件</strong>：华为昇腾、摩尔线程等GPU厂商增加了FP8精度支持，产品性能提升，应用场景明确。</li>
+                                    <li><strong>AI软件</strong>：中昊芯英等公司专注于DeepSeek-V3系列模型的优化，特别是UE8MO FP8 Scale精度配置，业务逻辑纯粹。</li>
+                                </ul>
+                                <h6>投资策略</h6>
+                                <ul>
+                                    <li><strong>长期布局</strong>：FP8技术是AI发展的重要趋势，具有长期投资价值，建议长期布局芯片设计、算力硬件等核心环节。</li>
+                                    <li><strong>关注催化剂</strong>：密切关注华为下一代芯片送测、寒武纪690大规模出货、昇腾910D系列量产等关键催化剂。</li>
+                                    <li><strong>风险控制</strong>：注意技术风险、商业化风险、政策风险等，合理控制仓位，避免过度集中。</li>
+                                </ul>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="mt-3">
+                    <h5 class="section-title">关键跟踪指标</h5>
+                    <div class="row">
+                        <div class="col-md-4 mb-3">
+                            <div class="card h-100">
+                                <div class="card-body">
+                                    <h5 class="card-title">产品出货量</h5>
+                                    <p>寒武纪690、昇腾910D等支持FP8的芯片出货量是验证商业化进程的关键指标。</p>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <div class="card h-100">
+                                <div class="card-body">
+                                    <h5 class="card-title">技术进展</h5>
+                                    <p>华为下一代芯片的测试结果、国产芯片FP8技术的实际效果等技术进展是验证技术可行性的关键指标。</p>
+                                </div>
+                            </div>
+                        </div>
+                        <div class="col-md-4 mb-3">
+                            <div class="card h-100">
+                                <div class="card-body">
+                                    <h5 class="card-title">应用案例</h5>
+                                    <p>DeepSeek V3.1在实际应用中的表现、FP8技术在各行业的应用案例是验证技术价值的关键指标。</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+
+        <!-- 股票数据 -->
+        <div class="card mb-4">
+            <div class="card-header">
+                <h2 class="h4 mb-0">相关股票数据</h2>
+            </div>
+            <div class="card-body">
+                <div class="table-responsive stock-table">
+                    <table class="table table-striped table-hover">
+                        <thead>
+                            <tr>
+                                <th>股票名称</th>
+                                <th>分类</th>
+                                <th>相关性</th>
+                                <th>消息来源</th>
+                                <th>投资逻辑</th>
+                            </tr>
+                        </thead>
+                        <tbody>
+                            <tr>
+                                <td>寒武纪</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>公司2022年定增项目先进工艺平台芯片项目和稳定工艺平台芯片项目(调整后),大模型技术能力的持续提升中,用FP8格式训练代替FP32格式训练,数据存储从32位压缩至8位,有效的提升大模型训练效率</td>
+                                <td>公告</td>
+                                <td>公司通过FP8技术优化大模型训练效率</td>
+                            </tr>
+                            <tr>
+                                <td>芯原股份</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>公司在研项目"面向数据中心和GPU-AI计算的高性能图形处理器技术"拟达到目标:支持INT4/INT8/INT16/FP8/FP16/BF16等多种数据格式</td>
+                                <td>公告</td>
+                                <td>研发高性能GPU技术并支持多种数据格式</td>
+                            </tr>
+                            <tr>
+                                <td>兆易创新</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>公司的GD5F系列支持FP8混合精度计算,其M87系列支持DDR5ECC纠错,与UE8MOFP8的内存架构协同</td>
+                                <td>网传纪要</td>
+                                <td>产品支持FP8计算和内存架构协同</td>
+                            </tr>
+                            <tr>
+                                <td>智微智能</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>公司基于AMD FP8平台开发高算力MINI AIPC产品项目已研发完成,具备本地50 Tops AI算力,产品应用PC行业很多新技术</td>
+                                <td>公告</td>
+                                <td>基于FP8平台开发高算力产品</td>
+                            </tr>
+                            <tr>
+                                <td>佳都科技</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>2024年,公司基于FP8混合精度预训练等技术,实现知行大模型训练效率较2024年初提升超150%,并在国产工卡GPU集群上完成了大模型优化训练方法的验证</td>
+                                <td>公告</td>
+                                <td>应用FP8技术提升大模型训练效率</td>
+                            </tr>
+                            <tr>
+                                <td>大华股份</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>公司AI工程能力持续优化,为实现大模型的高效训练,多方面优化训练框架:支持FP32和FP8混合精度训练,以在保持模型精度的同时最大化显存利用率和计算效率</td>
+                                <td>公告</td>
+                                <td>优化训练框架支持FP8混合精度</td>
+                            </tr>
+                            <tr>
+                                <td>理工能科</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>人工智能战略蓝图由一座公司级算力调度平台、FP8精度671B的LLM大脑和围绕公司核心业务训练的丰富专家模型库组成1+2布局,通用能力层由模型训练和管理平台、智能体生态平台和公司知识库底座三个公共服务构成</td>
+                                <td>公告</td>
+                                <td>构建包含FP8精度计算的AI战略</td>
+                            </tr>
+                            <tr>
+                                <td>中兴通讯</td>
+                                <td><span class="badge badge-category bg-primary">技术支持</span></td>
+                                <td>FP8是针对下一代的国产芯片设计,中兴微在国内芯片设计领域具有重要地位</td>
+                                <td>公开资料</td>
+                                <td>参与下一代国产芯片设计</td>
+                            </tr>
+                            <tr>
+                                <td>科德教育</td>
+                                <td><span class="badge badge-category bg-info">中昊芯英</span></td>
+                                <td>公司参股的中昊芯英(5.9933%)把DeepSeek-V3系列模型(包括 UE8MO FP8 Scale 精度配置)作为重点优化对象,宣称在计算精度、模型运行稳定性、协同效率等指标上全部达标</td>
+                                <td>网传纪要</td>
+                                <td>参股公司优化FP8模型</td>
+                            </tr>
+                            <tr>
+                                <td>艾布鲁</td>
+                                <td><span class="badge badge-category bg-info">中昊芯英</span></td>
+                                <td>公司控股子公司杭州星罗中昊科技(持股50%)持有中昊芯英(杭州)科技7.0465%股份</td>
+                                <td>互动</td>
+                                <td>通过子公司持有中昊芯英股份</td>
+                            </tr>
+                            <tr>
+                                <td>和而泰</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>公司直接持股摩尔线程1.244%,摩尔第四代GPU芯片,增加了FP8精度支持,大幅提升AI算力,公司基于该芯片支撑面向DeepSeek类前沿大模型预训练的万卡集群智算中心解决方案</td>
+                                <td>公告</td>
+                                <td>持股摩尔线程并参与智算中心建设</td>
+                            </tr>
+                            <tr>
+                                <td>联美控股</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>子公司拉萨联虹对摩尔线程股权投资,初始投资成本为人民币1亿元</td>
+                                <td>公告</td>
+                                <td>直接投资摩尔线程</td>
+                            </tr>
+                            <tr>
+                                <td>ST华通</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>公司及旗下的产业基金少数股权投资了摩尔线程</td>
+                                <td>调研</td>
+                                <td>通过产业基金投资摩尔线程</td>
+                            </tr>
+                            <tr>
+                                <td>盈趣科技</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>公司基于战略布局和多元化发展的考虑投资摩尔线程</td>
+                                <td>互动</td>
+                                <td>战略投资摩尔线程</td>
+                            </tr>
+                            <tr>
+                                <td>圣元环保</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>公司通过认购中原前海的基金份额3亿元人民币间接参与了摩尔线程的投资</td>
+                                <td>互动</td>
+                                <td>通过基金份额间接投资</td>
+                            </tr>
+                            <tr>
+                                <td>初灵信息</td>
+                                <td><span class="badge badge-category bg-warning">摩尔线程</span></td>
+                                <td>公司所认购的北京中移数字经济产业基金为摩尔线程的参股方</td>
+                                <td>互动</td>
+                                <td>通过产业基金参股</td>
+                            </tr>
+                        </tbody>
+                    </table>
+                </div>
+            </div>
+        </div>
+    </div>
+
+    <footer class="bg-dark text-white py-4">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <p class="mb-0">© 2025 DeepSeek FP8概念分析. 保留所有权利.</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">数据来源：公开资料整理</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0-alpha1/dist/js/bootstrap.bundle.min.js"></script>
+</body>
+</html>

public/htmls/EDA.html

@@ -0,0 +1,635 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>EDA行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 30px rgba(0, 0, 0, 0.1);
+    }
+    .timeline-line {
+      background: linear-gradient(to bottom, #667eea, #764ba2);
+    }
+    .hover-scale {
+      transition: transform 0.3s ease;
+    }
+    .hover-scale:hover {
+      transform: scale(1.05);
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    .text-gradient {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .badge-core {
+      background: linear-gradient(135deg, #f093fb 0%, #f5576c 100%);
+    }
+    .badge-chain {
+      background: linear-gradient(135deg, #4facfe 0%, #00f2fe 100%);
+    }
+  </style>
+</head>
+<body class="bg-gray-50">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 relative z-10">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gradient mb-4">EDA行业洞察报告</h1>
+      <p class="text-gray-600 text-lg max-w-3xl mx-auto">
+        深度解析国产EDA替代进程、产业链布局与投资机会
+      </p>
+      <div class="mt-6 flex justify-center space-x-4">
+        <span class="px-4 py-2 bg-purple-100 text-purple-700 rounded-full text-sm font-medium">
+          2025年国产替代元年
+        </span>
+        <span class="px-4 py-2 bg-blue-100 text-blue-700 rounded-full text-sm font-medium">
+          市场规模354亿元
+        </span>
+        <span class="px-4 py-2 bg-green-100 text-green-700 rounded-full text-sm font-medium">
+          CAGR 36%
+        </span>
+      </div>
+    </div>
+
+    <!-- 时间轴部分 -->
+    <div class="bg-white rounded-2xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-timeline mr-3 text-purple-600"></i>
+        EDA制裁与发展时间轴
+      </h2>
+      <div class="relative">
+        <div class="absolute left-4 md:left-1/2 transform md:-translate-x-1/2 h-full w-1 timeline-line"></div>
+        
+        <div class="space-y-8">
+          <div class="flex flex-col md:flex-row items-center">
+            <div class="md:w-1/2 md:text-right md:pr-8 mb-4 md:mb-0">
+              <div class="bg-purple-100 rounded-lg p-4 hover-scale">
+                <h3 class="font-bold text-purple-800">2018-2020年</h3>
+                <p class="text-sm text-gray-600">美国对华EDA制裁启动</p>
+                <p class="text-xs text-gray-500 mt-1">国产化率：6.24% → 11.48%</p>
+              </div>
+            </div>
+            <div class="w-8 h-8 bg-purple-600 rounded-full flex items-center justify-center z-10">
+              <i class="fas fa-flag text-white text-xs"></i>
+            </div>
+            <div class="md:w-1/2 md:pl-8"></div>
+          </div>
+
+          <div class="flex flex-col md:flex-row items-center">
+            <div class="md:w-1/2 md:text-right md:pr-8"></div>
+            <div class="w-8 h-8 bg-blue-600 rounded-full flex items-center justify-center z-10">
+              <i class="fas fa-microchip text-white text-xs"></i>
+            </div>
+            <div class="md:w-1/2 md:pl-8">
+              <div class="bg-blue-100 rounded-lg p-4 hover-scale">
+                <h3 class="font-bold text-blue-800">2022年8月</h3>
+                <p class="text-sm text-gray-600">GAAFET（3nm以下）EDA工具纳入出口管制</p>
+              </div>
+            </div>
+          </div>
+
+          <div class="flex flex-col md:flex-row items-center">
+            <div class="md:w-1/2 md:text-right md:pr-8 mb-4 md:mb-0">
+              <div class="bg-indigo-100 rounded-lg p-4 hover-scale">
+                <h3 class="font-bold text-indigo-800">2024年12月</h3>
+                <p class="text-sm text-gray-600">新增多重曝光工艺EDA管控</p>
+                <p class="text-xs text-gray-500 mt-1">授权密钥被纳入限制</p>
+              </div>
+            </div>
+            <div class="w-8 h-8 bg-indigo-600 rounded-full flex items-center justify-center z-10">
+              <i class="fas fa-lock text-white text-xs"></i>
+            </div>
+            <div class="md:w-1/2 md:pl-8"></div>
+          </div>
+
+          <div class="flex flex-col md:flex-row items-center">
+            <div class="md:w-1/2 md:text-right md:pr-8"></div>
+            <div class="w-8 h-8 bg-red-600 rounded-full flex items-center justify-center z-10">
+              <i class="fas fa-exclamation-triangle text-white text-xs"></i>
+            </div>
+            <div class="md:w-1/2 md:pl-8">
+              <div class="bg-red-100 rounded-lg p-4 hover-scale">
+                <h3 class="font-bold text-red-800">2025年5月29日</h3>
+                <p class="text-sm text-gray-600">三大EDA巨头全面断供中国14nm以下制程</p>
+                <p class="text-xs text-gray-500 mt-1">Synopsys已暂停在华新订单</p>
+              </div>
+            </div>
+          </div>
+
+          <div class="flex flex-col md:flex-row items-center">
+            <div class="md:w-1/2 md:text-right md:pr-8 mb-4 md:mb-0">
+              <div class="bg-green-100 rounded-lg p-4 hover-scale">
+                <h3 class="font-bold text-green-800">2025年6月</h3>
+                <p class="text-sm text-gray-600">国产EDA政策支持加码</p>
+                <p class="text-xs text-gray-500 mt-1">广州开发区补贴100万/年，大基金二期注资20亿</p>
+              </div>
+            </div>
+            <div class="w-8 h-8 bg-green-600 rounded-full flex items-center justify-center z-10">
+              <i class="fas fa-chart-line text-white text-xs"></i>
+            </div>
+            <div class="md:w-1/2 md:pl-8"></div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点 -->
+    <div class="grid md:grid-cols-3 gap-6 mb-8">
+      <div class="bg-white rounded-2xl card-shadow p-6 hover-scale">
+        <div class="text-purple-600 mb-4">
+          <i class="fas fa-lightbulb text-3xl"></i>
+        </div>
+        <h3 class="text-xl font-bold text-gray-800 mb-3">当前阶段</h3>
+        <p class="text-gray-600 text-sm">
+          EDA国产化已从"政策驱动"进入"断供倒逼+技术验证"的临界点，<span class="font-bold text-purple-600">2025年是国产替代订单兑现元年</span>
+        </p>
+      </div>
+
+      <div class="bg-white rounded-2xl card-shadow p-6 hover-scale">
+        <div class="text-blue-600 mb-4">
+          <i class="fas fa-rocket text-3xl"></i>
+        </div>
+        <h3 class="text-xl font-bold text-gray-800 mb-3">核心驱动力</h3>
+        <p class="text-gray-600 text-sm">
+          美国技术封锁升级直接触发<span class="font-bold text-blue-600">百亿级国产替代需求</span>，本土企业技术突破形成闭环
+        </p>
+      </div>
+
+      <div class="bg-white rounded-2xl card-shadow p-6 hover-scale">
+        <div class="text-green-600 mb-4">
+          <i class="fas fa-chart-line text-3xl"></i>
+        </div>
+        <h3 class="text-xl font-bold text-gray-800 mb-3">未来潜力</h3>
+        <p class="text-gray-600 text-sm">
+          中国EDA市场<span class="font-bold text-green-600">2024年135.9亿元→2027年354亿元</span>，国产化率有望从15%提升至30%+
+        </p>
+      </div>
+    </div>
+
+    <!-- 股票数据表格 -->
+    <div class="bg-white rounded-2xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-table mr-3 text-purple-600"></i>
+        关联股票数据
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full">
+          <thead>
+            <tr class="bg-gray-50">
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">分类</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">市占率</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">行业</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">来源</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">关联原因</th>
+            </tr>
+          </thead>
+          <tbody class="bg-white divide-y divide-gray-200">
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-purple-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">华大九天</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-core text-white">核心公司</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-medium">7%</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">机构研报</td>
+              <td class="px-6 py-4 text-sm text-gray-500">国产EDA龙头，数字EDA全流程工具预计2025年完成覆盖</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-purple-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">概伦电子</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-core text-white">核心公司</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-medium">2%</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">机构研报</td>
+              <td class="px-6 py-4 text-sm text-gray-500">国产EDA龙二，SPICE仿真器在7nm/5nm先进工艺节点验证中取得进展</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-purple-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">广立微</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-core text-white">核心公司</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-medium">2%</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">机构研报</td>
+              <td class="px-6 py-4 text-sm text-gray-500">国产EDA龙三，在制造类EDA工具中表现突出</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">隧道股份</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">工商信息</td>
+              <td class="px-6 py-4 text-sm text-gray-500">间接参股华大九天3.03%，通过上海建元基金</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">安路科技</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">搜互动</td>
+              <td class="px-6 py-4 text-sm text-gray-500">专用EDA软件主要针对本公司的FPGA芯片设计</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">赛微电子</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">搜互动</td>
+              <td class="px-6 py-4 text-sm text-gray-500">间接持股（4.67%）青岛展诚科技涉及EDA软件业务</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">东土科技</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">搜互动</td>
+              <td class="px-6 py-4 text-sm text-gray-500">参股（2.897%）中科亿海微团队自主开发了FPGA EDA软件</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">复旦微电</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">搜公告</td>
+              <td class="px-6 py-4 text-sm text-gray-500">具备全流程自主产权的FPGA配套EDA工具ProCiseTM</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <div class="flex items-center">
+                  <div class="w-3 h-3 bg-blue-600 rounded-full mr-3"></div>
+                  <span class="font-medium text-gray-900">张江高科</span>
+                </div>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="px-2 py-1 text-xs rounded-full badge-chain text-white">产业链关联</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">——</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">EDA</td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-500">搜公告</td>
+              <td class="px-6 py-4 text-sm text-gray-500">参与投资EDA创新中心，打造全流程国产EDA生态</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 产业链图谱 -->
+    <div class="bg-white rounded-2xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-project-diagram mr-3 text-purple-600"></i>
+        产业链图谱
+      </h2>
+      <div class="grid md:grid-cols-3 gap-6">
+        <div class="text-center">
+          <div class="bg-purple-100 rounded-xl p-6 mb-4">
+            <i class="fas fa-arrow-up text-4xl text-purple-600 mb-3"></i>
+            <h3 class="font-bold text-purple-800 text-lg">上游</h3>
+          </div>
+          <div class="space-y-2">
+            <div class="bg-gray-50 rounded-lg p-3 text-sm">
+              <span class="font-medium">IP核：</span>芯原股份
+            </div>
+            <div class="bg-gray-50 rounded-lg p-3 text-sm">
+              <span class="font-medium">晶圆厂：</span>中芯国际
+            </div>
+            <div class="bg-gray-50 rounded-lg p-3 text-sm">
+              <span class="font-medium">设备：</span>北方华创
+            </div>
+          </div>
+        </div>
+
+        <div class="text-center">
+          <div class="bg-blue-100 rounded-xl p-6 mb-4">
+            <i class="fas fa-microchip text-4xl text-blue-600 mb-3"></i>
+            <h3 class="font-bold text-blue-800 text-lg">中游</h3>
+          </div>
+          <div class="space-y-2">
+            <div class="bg-blue-50 rounded-lg p-3 text-sm border-2 border-blue-200">
+              <span class="font-medium">EDA工具：</span>
+            </div>
+            <div class="bg-blue-50 rounded-lg p-3 text-sm">
+              华大九天 / 概伦电子 / 广立微
+            </div>
+          </div>
+        </div>
+
+        <div class="text-center">
+          <div class="bg-green-100 rounded-xl p-6 mb-4">
+            <i class="fas fa-arrow-down text-4xl text-green-600 mb-3"></i>
+            <h3 class="font-bold text-green-800 text-lg">下游</h3>
+          </div>
+          <div class="space-y-2">
+            <div class="bg-gray-50 rounded-lg p-3 text-sm">
+              <span class="font-medium">芯片设计：</span>华为海思、韦尔股份
+            </div>
+            <div class="bg-gray-50 rounded-lg p-3 text-sm">
+              <span class="font-medium">封测：</span>长电科技
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心玩家对比 -->
+    <div class="bg-white rounded-2xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-chess mr-3 text-purple-600"></i>
+        核心玩家对比
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full">
+          <thead>
+            <tr class="bg-gray-50">
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">公司</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">技术壁垒</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">2024年市占率</th>
+              <th class="px-6 py-3 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险点</th>
+            </tr>
+          </thead>
+          <tbody class="bg-white divide-y divide-gray-200">
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="font-bold text-purple-600">华大九天</span>
+              </td>
+              <td class="px-6 py-4 text-sm text-gray-900">
+                模拟全流程<span class="text-purple-600 font-medium">全球唯一</span>，数字工具<span class="text-purple-600 font-medium">5nm验证</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-bold">7%</td>
+              <td class="px-6 py-4 text-sm text-gray-500">数字后端工具依赖并购整合</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="font-bold text-blue-600">概伦电子</span>
+              </td>
+              <td class="px-6 py-4 text-sm text-gray-900">
+                器件建模<span class="text-blue-600 font-medium">台积电3nm认证</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-bold">2%</td>
+              <td class="px-6 py-4 text-sm text-gray-500">制造类EDA客户集中度高</td>
+            </tr>
+            <tr class="hover:bg-gray-50">
+              <td class="px-6 py-4 whitespace-nowrap">
+                <span class="font-bold text-green-600">广立微</span>
+              </td>
+              <td class="px-6 py-4 text-sm text-gray-900">
+                良率分析<span class="text-green-600 font-medium">三星供应链</span>
+              </td>
+              <td class="px-6 py-4 whitespace-nowrap text-sm text-gray-900 font-bold">2%</td>
+              <td class="px-6 py-4 text-sm text-gray-500">硬件设备收入占比过高（80%）</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 风险与挑战 -->
+    <div class="bg-white rounded-2xl card-shadow p-6 mb-8">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-purple-600"></i>
+        潜在风险与挑战
+      </h2>
+      <div class="grid md:grid-cols-2 gap-6">
+        <div class="bg-red-50 rounded-xl p-6">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-microchip text-red-600 text-xl mr-3"></i>
+            <h3 class="font-bold text-red-800">技术风险</h3>
+          </div>
+          <p class="text-sm text-gray-700">
+            布局布线工具仍依赖海外算法（Synopsys ICC2垄断），国产替代需并购+自研双轮驱动
+          </p>
+        </div>
+
+        <div class="bg-orange-50 rounded-xl p-6">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-dollar-sign text-orange-600 text-xl mr-3"></i>
+            <h3 class="font-bold text-orange-800">商业化风险</h3>
+          </div>
+          <p class="text-sm text-gray-700">
+            国产EDA价格比海外高20-30%（华大九天路演数据），客户切换动力不足
+          </p>
+        </div>
+
+        <div class="bg-yellow-50 rounded-xl p-6">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-gavel text-yellow-600 text-xl mr-3"></i>
+            <h3 class="font-bold text-yellow-800">政策风险</h3>
+          </div>
+          <p class="text-sm text-gray-700">
+            若美国放宽14nm以上制程限制，国产替代节奏可能放缓
+          </p>
+        </div>
+
+        <div class="bg-purple-50 rounded-xl p-6">
+          <div class="flex items-center mb-3">
+            <i class="fas fa-info-circle text-purple-600 text-xl mr-3"></i>
+            <h3 class="font-bold text-purple-800">信息矛盾</h3>
+          </div>
+          <p class="text-sm text-gray-700">
+            路演称"2025年数字全流程覆盖"，但技术报告显示布局布线工具仍需外购（存在6-12个月延期风险）
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 投资启示 -->
+    <div class="bg-gradient-to-r from-purple-600 to-blue-600 rounded-2xl card-shadow p-8 text-white">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-lightbulb mr-3"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-bold mb-3">阶段判断</h3>
+        <p class="text-purple-100">
+          EDA国产化已从"主题炒作"进入"订单验证"阶段，<span class="font-bold">2025年Q3-Q4是业绩兑现关键窗口</span>
+        </p>
+      </div>
+
+      <div class="mb-6">
+        <h3 class="text-xl font-bold mb-3">投资方向</h3>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="bg-white bg-opacity-20 rounded-lg p-4">
+            <h4 class="font-bold mb-2">最纯标的</h4>
+            <p class="text-sm">
+              <span class="font-bold">华大九天</span>（模拟全流程+数字并购预期），PS估值48倍（2024E）低于海外龙头
+            </p>
+          </div>
+          <div class="bg-white bg-opacity-20 rounded-lg p-4">
+            <h4 class="font-bold mb-2">弹性标的</h4>
+            <p class="text-sm">
+              <span class="font-bold">概伦电子</span>（3nm器件建模稀缺性），市销率23倍（2024E）存在技术溢价
+            </p>
+          </div>
+        </div>
+      </div>
+
+      <div>
+        <h3 class="text-xl font-bold mb-3">跟踪指标</h3>
+        <div class="space-y-2">
+          <div class="flex items-start">
+            <i class="fas fa-check-circle mt-1 mr-3"></i>
+            <p class="text-sm"><span class="font-bold">华大九天</span>：2025年Q3数字后端工具并购落地及华为5nm项目订单确认</p>
+          </div>
+          <div class="flex items-start">
+            <i class="fas fa-check-circle mt-1 mr-3"></i>
+            <p class="text-sm"><span class="font-bold">概伦电子</span>：台积电3nm工艺国产EDA工具量产订单（预计2025年Q4）</p>
+          </div>
+          <div class="flex items-start">
+            <i class="fas fa-check-circle mt-1 mr-3"></i>
+            <p class="text-sm"><span class="font-bold">行业数据</span>：中国EDA市场国产化率季度环比提升（目标2025年底20%）</p>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#667eea"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#667eea",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/GAA晶体管.html

@@ -0,0 +1,478 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>GAA晶体管概念分析 - 半导体先进制程技术</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <style>
+        :root {
+            --primary-color: #1e3a8a;
+            --secondary-color: #3b82f6;
+            --accent-color: #60a5fa;
+            --light-bg: #f0f9ff;
+            --dark-text: #1e293b;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;
+            color: var(--dark-text);
+            background-color: #f8fafc;
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, var(--primary-color) 0%, var(--secondary-color) 100%);
+            color: white;
+            padding: 4rem 0;
+            position: relative;
+            overflow: hidden;
+        }
+        
+        .hero-section::before {
+            content: "";
+            position: absolute;
+            top: 0;
+            left: 0;
+            right: 0;
+            bottom: 0;
+            background: url('data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1440 320"><path fill="%23ffffff10" fill-opacity="1" d="M0,96L48,112C96,128,192,160,288,160C384,160,480,128,576,122.7C672,117,768,139,864,154.7C960,171,1056,181,1152,165.3C1248,149,1344,107,1392,85.3L1440,64L1440,320L1392,320C1344,320,1248,320,1152,320C1056,320,960,320,864,320C768,320,672,320,576,320C480,320,384,320,288,320C192,320,96,320,48,320L0,320Z"></path></svg>') no-repeat bottom;
+            background-size: cover;
+        }
+        
+        .card {
+            border: none;
+            border-radius: 12px;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+            transition: transform 0.3s ease, box-shadow 0.3s ease;
+            height: 100%;
+        }
+        
+        .card:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 12px 20px rgba(0, 0, 0, 0.1);
+        }
+        
+        .tech-badge {
+            background-color: var(--light-bg);
+            color: var(--primary-color);
+            padding: 0.25rem 0.75rem;
+            border-radius: 20px;
+            font-size: 0.875rem;
+            font-weight: 500;
+            display: inline-block;
+            margin: 0.25rem;
+        }
+        
+        .stock-table {
+            background-color: white;
+            border-radius: 12px;
+            overflow: hidden;
+            box-shadow: 0 4px 6px rgba(0, 0, 0, 0.05);
+        }
+        
+        .stock-table thead {
+            background-color: var(--primary-color);
+            color: white;
+        }
+        
+        .stock-table th {
+            font-weight: 600;
+            padding: 1rem;
+            border: none;
+        }
+        
+        .stock-table td {
+            padding: 1rem;
+            vertical-align: middle;
+            border-color: #e2e8f0;
+        }
+        
+        .direct-related {
+            background-color: rgba(34, 197, 94, 0.1);
+        }
+        
+        .supply-chain {
+            background-color: rgba(59, 130, 246, 0.1);
+        }
+        
+        .section-title {
+            position: relative;
+            padding-bottom: 1rem;
+            margin-bottom: 2rem;
+        }
+        
+        .section-title::after {
+            content: "";
+            position: absolute;
+            bottom: 0;
+            left: 0;
+            width: 60px;
+            height: 4px;
+            background-color: var(--secondary-color);
+            border-radius: 2px;
+        }
+        
+        .icon-box {
+            width: 60px;
+            height: 60px;
+            border-radius: 12px;
+            background-color: var(--light-bg);
+            display: flex;
+            align-items: center;
+            justify-content: center;
+            margin-bottom: 1rem;
+        }
+        
+        .icon-box i {
+            font-size: 1.5rem;
+            color: var(--secondary-color);
+        }
+        
+        .timeline {
+            position: relative;
+            padding-left: 2rem;
+        }
+        
+        .timeline::before {
+            content: "";
+            position: absolute;
+            left: 0;
+            top: 0;
+            height: 100%;
+            width: 2px;
+            background-color: var(--accent-color);
+        }
+        
+        .timeline-item {
+            position: relative;
+            padding-bottom: 2rem;
+        }
+        
+        .timeline-item::before {
+            content: "";
+            position: absolute;
+            left: -2.5rem;
+            top: 0.5rem;
+            width: 12px;
+            height: 12px;
+            border-radius: 50%;
+            background-color: var(--secondary-color);
+            border: 3px solid white;
+            box-shadow: 0 0 0 3px var(--light-bg);
+        }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .stock-table {
+                font-size: 0.875rem;
+            }
+            
+            .stock-table th, .stock-table td {
+                padding: 0.5rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- Hero Section -->
+    <section class="hero-section">
+        <div class="container position-relative">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-3">GAA晶体管技术</h1>
+                    <p class="lead mb-4">下一代半导体先进制程核心技术，引领芯片性能突破</p>
+                    <div class="d-flex flex-wrap gap-2">
+                        <span class="tech-badge"><i class="bi bi-cpu"></i> 3nm及以下工艺</span>
+                        <span class="tech-badge"><i class="bi bi-lightning"></i> 高性能计算</span>
+                        <span class="tech-badge"><i class="bi bi-phone"></i> 移动设备</span>
+                        <span class="tech-badge"><i class="bi bi-graph-up"></i> AI加速</span>
+                    </div>
+                </div>
+                <div class="col-lg-4 text-lg-end mt-4 mt-lg-0">
+                    <div class="d-flex justify-content-lg-end justify-content-start gap-4">
+                        <div class="text-center">
+                            <h2 class="fw-bold">3nm</h2>
+                            <p class="mb-0">工艺节点</p>
+                        </div>
+                        <div class="text-center">
+                            <h2 class="fw-bold">30%+</h2>
+                            <p class="mb-0">性能提升</p>
+                        </div>
+                        <div class="text-center">
+                            <h2 class="fw-bold">50%+</h2>
+                            <p class="mb-0">能效优化</p>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Main Content -->
+    <div class="container my-5">
+        <!-- Insight Section -->
+        <section class="mb-5">
+            <h2 class="section-title">技术概念与产业意义</h2>
+            <div class="row">
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <div class="icon-box">
+                                <i class="bi bi-cpu"></i>
+                            </div>
+                            <h5 class="card-title">技术原理</h5>
+                            <p class="card-text">GAA（Gate-All-Around）晶体管是一种新型晶体管结构，通过将栅极环绕在沟道周围，实现对电流的更精确控制，突破传统FinFET技术的物理极限。</p>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <div class="icon-box">
+                                <i class="bi bi-lightning-charge"></i>
+                            </div>
+                            <h5 class="card-title">性能优势</h5>
+                            <p class="card-text">相比FinFET，GAA晶体管可提供更高的驱动电流、更低的漏电流和更好的静电控制，使芯片在同等功耗下性能提升30%以上，或在同等性能下功耗降低50%以上。</p>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <div class="icon-box">
+                                <i class="bi bi-graph-up-arrow"></i>
+                            </div>
+                            <h5 class="card-title">产业影响</h5>
+                            <p class="card-text">GAA技术是3nm及以下工艺节点的关键，将推动半导体设备、材料、设计工具等全产业链升级，为AI、高性能计算、移动设备等领域提供更强算力支持。</p>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Stock Table Section -->
+        <section class="mb-5">
+            <h2 class="section-title">GAA晶体管概念股全景</h2>
+            <div class="table-responsive">
+                <table class="table table-hover stock-table">
+                    <thead>
+                        <tr>
+                            <th>股票名称</th>
+                            <th>分类</th>
+                            <th>行业/设备</th>
+                            <th>技术特点/应用</th>
+                            <th>消息来源</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr class="direct-related">
+                            <td><strong>柏诚股份</strong></td>
+                            <td><span class="badge bg-success">直接相关</span></td>
+                            <td>洁净室设备供应商</td>
+                            <td>GAA促使半导体企业产线改造及技术升级，进而带动洁净室行业需求持续增长。公司是GAA晶体管洁净室设备供应商，受益于先进制程扩产</td>
+                            <td>公告</td>
+                        </tr>
+                        <tr class="direct-related">
+                            <td><strong>概伦电子</strong></td>
+                            <td><span class="badge bg-success">直接相关</span></td>
+                            <td>EDA工具供应商</td>
+                            <td>支持7nm/5nm/3nm等先进工艺节点，GAAFET结构用于3nm及以下先进工艺制程的芯片研发设计</td>
+                            <td>投资者活动记录表</td>
+                        </tr>
+                        <tr class="direct-related">
+                            <td><strong>国林科技</strong></td>
+                            <td><span class="badge bg-success">直接相关</span></td>
+                            <td>薄膜沉积和臭氧清洗设备供应商</td>
+                            <td>设备可应用于GAA工艺，子公司国林半导体营业收入占公司主营业务收入比重较小</td>
+                            <td>互动</td>
+                        </tr>
+                        <tr class="direct-related">
+                            <td><strong>中科飞测</strong></td>
+                            <td><span class="badge bg-success">直接相关</span></td>
+                            <td>先进制程明场纳米图形晶圆缺陷检测设备</td>
+                            <td>REDWOOD-900检测精度达10nm级，适配FinFET、GAA等先进晶体管结构，2023年4月28日宣布设备再次出货头部客户</td>
+                            <td>公开资料</td>
+                        </tr>
+                        <tr class="supply-chain">
+                            <td><strong>新莱应材</strong></td>
+                            <td><span class="badge bg-primary">产业链配套</span></td>
+                            <td>真空半导体封装技术</td>
+                            <td>涉及GAA工艺，半导体真空系统和气体系统服务于泛半导体设备供应商、工程公司及终端制造商</td>
+                            <td>互动</td>
+                        </tr>
+                        <tr class="supply-chain">
+                            <td><strong>微导纳米</strong></td>
+                            <td><span class="badge bg-primary">产业链配套</span></td>
+                            <td>ALD技术</td>
+                            <td>高质量薄膜满足GAA环绕式栅极中薄膜沉积要求</td>
+                            <td>互动</td>
+                        </tr>
+                        <tr class="supply-chain">
+                            <td><strong>中微公司</strong></td>
+                            <td><span class="badge bg-primary">产业链配套</span></td>
+                            <td>Primo SSC™设备</td>
+                            <td>支持原子层沉积（ALD）/PECVD混合模式，实现亚纳米级薄膜均匀性，开发面向2nm的介质蚀刻-PECVD协同模块，解决高选择性刻蚀挑战</td>
+                            <td>公开资料</td>
+                        </tr>
+                        <tr class="supply-chain">
+                            <td><strong>北方华创</strong></td>
+                            <td><span class="badge bg-primary">产业链配套</span></td>
+                            <td>PECCVD设备</td>
+                            <td>突破28nm节点，2nm方向聚焦超低温沉积（≤350℃）及原位退火集成技术，介电薄膜厚度偏差控制在±0.5Å以内，但高深宽比覆盖能力落后国际1-2代</td>
+                            <td>公开资料</td>
+                        </tr>
+                        <tr class="supply-chain">
+                            <td><strong>拓荆科技</strong></td>
+                            <td><span class="badge bg-primary">产业链配套</span></td>
+                            <td>PECVD设备</td>
+                            <td>在中芯国际28纳米生产线实现规模化应用</td>
+                            <td>公开资料</td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </section>
+
+        <!-- Industry Chain Section -->
+        <section class="mb-5">
+            <h2 class="section-title">GAA产业链分析</h2>
+            <div class="row">
+                <div class="col-lg-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <h5 class="card-title mb-3"><i class="bi bi-diagram-3 text-primary me-2"></i>产业链结构</h5>
+                            <div class="timeline">
+                                <div class="timeline-item">
+                                    <h6>上游：材料与设备</h6>
+                                    <p>高纯度硅片、光刻胶、特种气体等材料；光刻机、刻蚀设备、薄膜沉积设备等关键设备</p>
+                                </div>
+                                <div class="timeline-item">
+                                    <h6>中游：晶圆制造</h6>
+                                    <p>台积电、三星、英特尔等晶圆厂负责GAA工艺研发与量产</p>
+                                </div>
+                                <div class="timeline-item">
+                                    <h6>下游：应用领域</h6>
+                                    <p>高性能计算、AI加速器、高端智能手机、数据中心等</p>
+                                </div>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-lg-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <h5 class="card-title mb-3"><i class="bi bi-lightbulb text-primary me-2"></i>技术挑战与机遇</h5>
+                            <ul class="list-unstyled">
+                                <li class="mb-3">
+                                    <i class="bi bi-check-circle-fill text-success me-2"></i>
+                                    <strong>技术挑战：</strong>纳米级精度控制、高深宽比结构制造、良率提升
+                                </li>
+                                <li class="mb-3">
+                                    <i class="bi bi-check-circle-fill text-success me-2"></i>
+                                    <strong>设备需求：</strong>更先进的刻蚀、沉积、检测设备，单条产线投资超50亿美元
+                                </li>
+                                <li class="mb-3">
+                                    <i class="bi bi-check-circle-fill text-success me-2"></i>
+                                    <strong>市场机遇：</strong>2025年GAA技术市场规模预计突破100亿美元，年复合增长率超35%
+                                </li>
+                                <li>
+                                    <i class="bi bi-check-circle-fill text-success me-2"></i>
+                                    <strong>国产替代：</strong>国内企业在刻蚀、沉积等设备领域加速突破，逐步实现进口替代
+                                </li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Investment Outlook Section -->
+        <section class="mb-5">
+            <h2 class="section-title">投资前景展望</h2>
+            <div class="card">
+                <div class="card-body">
+                    <div class="row">
+                        <div class="col-md-6 mb-4 mb-md-0">
+                            <h5 class="card-title"><i class="bi bi-graph-up text-success me-2"></i>增长驱动因素</h5>
+                            <ul>
+                                <li>AI、高性能计算等应用对算力需求持续增长</li>
+                                <li>摩尔定律延续需要更先进制程技术支持</li>
+                                <li>智能手机、数据中心等终端产品性能升级需求</li>
+                                <li>国家政策支持半导体产业自主可控</li>
+                            </ul>
+                        </div>
+                        <div class="col-md-6">
+                            <h5 class="card-title"><i class="bi bi-exclamation-triangle text-warning me-2"></i>风险提示</h5>
+                            <ul>
+                                <li>技术成熟度不及预期，量产进度可能延迟</li>
+                                <li>设备投资成本高，可能抑制晶圆厂扩产意愿</li>
+                                <li>国际贸易环境变化可能影响供应链稳定</li>
+                                <li>市场竞争加剧，技术迭代速度快</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+    </div>
+
+    <!-- Footer -->
+    <footer class="bg-dark text-white py-4 mt-5">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <h5>GAA晶体管技术分析</h5>
+                    <p class="mb-0">下一代半导体先进制程核心技术洞察</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">数据来源：公开资料整理 | 更新时间：2023年</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 添加表格行点击高亮效果
+        document.querySelectorAll('.stock-table tbody tr').forEach(row => {
+            row.addEventListener('click', function() {
+                // 移除其他行的高亮
+                document.querySelectorAll('.stock-table tbody tr').forEach(r => {
+                    r.classList.remove('table-active');
+                });
+                // 添加当前行高亮
+                this.classList.add('table-active');
+            });
+        });
+
+        // 添加滚动动画效果
+        const observerOptions = {
+            root: null,
+            rootMargin: '0px',
+            threshold: 0.1
+        };
+
+        const observer = new IntersectionObserver((entries) => {
+            entries.forEach(entry => {
+                if (entry.isIntersecting) {
+                    entry.target.style.opacity = 1;
+                    entry.target.style.transform = 'translateY(0)';
+                }
+            });
+        }, observerOptions);
+
+        // 观察所有卡片元素
+        document.querySelectorAll('.card').forEach(card => {
+            card.style.opacity = 0;
+            card.style.transform = 'translateY(20px)';
+            card.style.transition = 'opacity 0.6s ease, transform 0.6s ease';
+            observer.observe(card);
+        });
+    </script>
+</body>
+</html>

public/htmls/GPU概念股.html

@@ -0,0 +1,951 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>GPU概念股分析 - AI时代的算力革命</title>
+    <!-- Bootstrap 5 CSS -->
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <!-- Bootstrap Icons -->
+    <link rel="stylesheet" href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css">
+    <!-- Custom CSS -->
+    <style>
+        :root {
+            --primary-gradient: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+            --secondary-gradient: linear-gradient(135deg, #f093fb 0%, #f5576c 100%);
+            --dark-gradient: linear-gradient(135deg, #434343 0%, #000000 100%);
+        }
+
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, sans-serif;
+            background-color: #f8f9fa;
+            color: #333;
+        }
+
+        .hero-section {
+            background: var(--primary-gradient);
+            color: white;
+            padding: 4rem 0;
+            position: relative;
+            overflow: hidden;
+        }
+
+        .hero-section::before {
+            content: '';
+            position: absolute;
+            top: 0;
+            left: 0;
+            right: 0;
+            bottom: 0;
+            background: url('data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1440 320"><path fill="%23ffffff" fill-opacity="0.1" d="M0,96L48,112C96,128,192,160,288,160C384,160,480,128,576,112C672,96,768,96,864,112C960,128,1056,160,1152,160C1248,160,1344,128,1392,112L1440,96L1440,320L1392,320C1344,320,1248,320,1152,320C1056,320,960,320,864,320C768,320,672,320,576,320C480,320,384,320,288,320C192,320,96,320,48,320L0,320Z"></path></svg>') no-repeat bottom;
+            background-size: cover;
+        }
+
+        .section-title {
+            position: relative;
+            display: inline-block;
+            margin-bottom: 2rem;
+        }
+
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: -10px;
+            left: 0;
+            width: 60px;
+            height: 4px;
+            background: var(--primary-gradient);
+        }
+
+        .timeline {
+            position: relative;
+            padding: 20px 0;
+        }
+
+        .timeline::before {
+            content: '';
+            position: absolute;
+            top: 0;
+            left: 50%;
+            width: 2px;
+            height: 100%;
+            background: #e9ecef;
+            transform: translateX(-50%);
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+
+        .timeline-item {
+            position: relative;
+            margin-bottom: 30px;
+        }
+
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            top: 5px;
+            left: 50%;
+            width: 16px;
+            height: 16px;
+            border-radius: 50%;
+            background: var(--primary-gradient);
+            transform: translateX(-50%);
+            z-index: 1;
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+
+        .timeline-content {
+            width: 45%;
+            padding: 20px;
+            background: white;
+            border-radius: 8px;
+            box-shadow: 0 2px 10px rgba(0,0,0,0.1);
+            position: relative;
+        }
+
+        .timeline-item:nth-child(odd) .timeline-content {
+            margin-left: auto;
+        }
+
+        .timeline-date {
+            position: absolute;
+            top: 0;
+            width: 100px;
+            text-align: center;
+            font-weight: bold;
+            color: #6c757d;
+        }
+
+        .timeline-item:nth-child(odd) .timeline-date {
+            left: -120px;
+        }
+
+        .timeline-item:nth-child(even) .timeline-date {
+            right: -120px;
+        }
+
+        .card {
+            border: none;
+            border-radius: 10px;
+            box-shadow: 0 4px 15px rgba(0,0,0,0.08);
+            transition: transform 0.3s ease, box-shadow 0.3s ease;
+            height: 100%;
+        }
+
+        .card:hover {
+            transform: translateY(-5px);
+            box-shadow: 0 8px 25px rgba(0,0,0,0.15);
+        }
+
+        .card-header {
+            background: var(--primary-gradient);
+            color: white;
+            border-radius: 10px 10px 0 0 !important;
+            padding: 1rem 1.5rem;
+        }
+
+        .industry-chain {
+            display: flex;
+            justify-content: space-between;
+            margin: 2rem 0;
+            flex-wrap: wrap;
+        }
+
+        .chain-item {
+            flex: 1;
+            min-width: 200px;
+            margin: 0.5rem;
+            padding: 1.5rem;
+            background: white;
+            border-radius: 10px;
+            box-shadow: 0 2px 10px rgba(0,0,0,0.08);
+            text-align: center;
+            transition: transform 0.3s ease;
+        }
+
+        .chain-item:hover {
+            transform: translateY(-5px);
+        }
+
+        .chain-icon {
+            font-size: 2.5rem;
+            margin-bottom: 1rem;
+            color: #667eea;
+        }
+
+        .stock-table {
+            background: white;
+            border-radius: 10px;
+            overflow: hidden;
+            box-shadow: 0 4px 15px rgba(0,0,0,0.08);
+        }
+
+        .stock-table thead {
+            background: var(--primary-gradient);
+            color: white;
+        }
+
+        .stock-table th {
+            font-weight: 600;
+            padding: 1rem;
+            border: none;
+        }
+
+        .stock-table td {
+            padding: 1rem;
+            vertical-align: middle;
+            border-color: #e9ecef;
+        }
+
+        .stock-table tbody tr:hover {
+            background-color: #f8f9fa;
+        }
+
+        .badge-chain {
+            display: inline-block;
+            padding: 0.35em 0.65em;
+            font-size: 0.75em;
+            font-weight: 700;
+            line-height: 1;
+            text-align: center;
+            white-space: nowrap;
+            vertical-align: baseline;
+            border-radius: 0.375rem;
+            margin: 0.2rem;
+        }
+
+        .badge-gpu-chip {
+            background-color: #667eea;
+            color: white;
+        }
+
+        .badge-gpu-hardware {
+            background-color: #764ba2;
+            color: white;
+        }
+
+        .badge-ai-model {
+            background-color: #f093fb;
+            color: white;
+        }
+
+        .badge-gpu-investment {
+            background-color: #f5576c;
+            color: white;
+        }
+
+        .badge-graphics-card {
+            background-color: #4facfe;
+            color: white;
+        }
+
+        .badge-liquid-cooling {
+            background-color: #43e97b;
+            color: white;
+        }
+
+        .badge-ai-application {
+            background-color: #fa709a;
+            color: white;
+        }
+
+        .highlight-box {
+            background: white;
+            border-left: 4px solid #667eea;
+            padding: 1.5rem;
+            margin: 1.5rem 0;
+            border-radius: 0 8px 8px 0;
+            box-shadow: 0 2px 10px rgba(0,0,0,0.08);
+        }
+
+        .footer {
+            background: var(--dark-gradient);
+            color: white;
+            padding: 3rem 0 1.5rem;
+            margin-top: 4rem;
+        }
+
+        @media (max-width: 768px) {
+            .timeline::before {
+                left: 30px;
+            }
+
+            .timeline-item::before {
+                left: 30px;
+            }
+
+            .timeline-content {
+                width: calc(100% - 60px);
+                margin-left: 60px !important;
+            }
+
+            .timeline-date {
+                position: relative;
+                left: 0 !important;
+                right: 0 !important;
+                margin-bottom: 10px;
+            }
+
+            .industry-chain {
+                flex-direction: column;
+            }
+
+            .chain-item {
+                margin: 0.5rem 0;
+            }
+
+            .stock-table {
+                font-size: 0.875rem;
+            }
+
+            .stock-table th,
+            .stock-table td {
+                padding: 0.5rem;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- Navigation -->
+    <nav class="navbar navbar-expand-lg navbar-dark bg-dark sticky-top">
+        <div class="container">
+            <a class="navbar-brand" href="#"><i class="bi bi-cpu"></i> GPU概念股分析</a>
+            <button class="navbar-toggler" type="button" data-bs-toggle="collapse" data-bs-target="#navbarNav">
+                <span class="navbar-toggler-icon"></span>
+            </button>
+            <div class="collapse navbar-collapse" id="navbarNav">
+                <ul class="navbar-nav ms-auto">
+                    <li class="nav-item"><a class="nav-link" href="#summary">核心观点</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#timeline">事件时间轴</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#logic">核心逻辑</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#catalyst">催化剂</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#stocks">股票数据</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#risks">风险分析</a></li>
+                </ul>
+            </div>
+        </div>
+    </nav>
+
+    <!-- Hero Section -->
+    <section class="hero-section">
+        <div class="container">
+            <div class="row align-items-center">
+                <div class="col-lg-8">
+                    <h1 class="display-4 fw-bold mb-4">GPU概念股：AI时代的算力革命</h1>
+                    <p class="lead mb-4">GPU概念股的兴起源于人工智能大模型爆发式发展对算力的迫切需求，叠加国际地缘政治因素推动的国产替代浪潮。这一概念的核心背景是GPU作为AI计算的基础硬件，其性能和供应直接决定了AI技术的发展速度和应用广度。</p>
+                    <div class="d-flex flex-wrap gap-2">
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-cpu"></i> 算力需求</span>
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-globe"></i> 国产替代</span>
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-robot"></i> AI应用</span>
+                        <span class="badge bg-light text-dark fs-6"><i class="bi bi-lightning"></i> 技术变革</span>
+                    </div>
+                </div>
+                <div class="col-lg-4 text-center">
+                    <img src="https://picsum.photos/seed/gpu-concept/400/300" alt="GPU概念" class="img-fluid rounded shadow">
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <!-- Main Content -->
+    <div class="container my-5">
+        <!-- Executive Summary -->
+        <section id="summary" class="mb-5">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="highlight-box">
+                <p class="mb-0"><strong>GPU概念股正处于技术变革与国产替代的双重驱动下</strong>，当前处于从主题炒作向基本面驱动过渡的关键阶段。核心驱动力来自AI大模型对算力的持续需求、GPU硬件设计的潜在变革（如插槽化）以及国内厂商在特定领域的突破，未来潜力在于国产替代加速和新应用场景（如机器人、边缘计算）的拓展，但需警惕需求放缓和技术壁垒带来的挑战。</p>
+            </div>
+            
+            <div class="row mt-4">
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h5 class="mb-0"><i class="bi bi-lightning-charge"></i> 核心驱动力</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li><i class="bi bi-check-circle text-success"></i> AI大模型算力需求爆发</li>
+                                <li><i class="bi bi-check-circle text-success"></i> GPU硬件设计潜在变革</li>
+                                <li><i class="bi bi-check-circle text-success"></i> 国产替代加速</li>
+                                <li><i class="bi bi-check-circle text-success"></i> 应用场景拓展</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h5 class="mb-0"><i class="bi bi-thermometer-half"></i> 市场热度</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li><i class="bi bi-eye text-info"></i> 市场关注度高</li>
+                                <li><i class="bi bi-exclamation-triangle text-warning"></i> 情绪存在分歧</li>
+                                <li><i class="bi bi-graph-up text-success"></i> 乐观：长期增长逻辑</li>
+                                <li><i class="bi bi-graph-down text-danger"></i> 谨慎：需求放缓</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h5 class="mb-0"><i class="bi bi-compass"></i> 预期差</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li><i class="bi bi-arrow-left-right text-primary"></i> 技术差距被高估</li>
+                                <li><i class="bi bi-arrow-left-right text-primary"></i> 需求增长被低估</li>
+                                <li><i class="bi bi-arrow-left-right text-primary"></i> 技术变革被忽视</li>
+                                <li><i class="bi bi-arrow-left-right text-primary"></i> 生态建设被低估</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Timeline -->
+        <section id="timeline" class="mb-5">
+            <h2 class="section-title">关键催化事件时间轴</h2>
+            <div class="timeline">
+                <div class="timeline-item">
+                    <div class="timeline-date">2023年初</div>
+                    <div class="timeline-content">
+                        <h5>ChatGPT引爆全球AI热潮</h5>
+                        <p>ChatGPT引爆全球AI热潮，GPU算力需求激增，英伟达股价开始大幅上涨</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2023年3-4月</div>
+                    <div class="timeline-content">
+                        <h5>美国实施高端GPU出口限制</h5>
+                        <p>美国对华实施高端GPU出口限制，国内GPU产业链企业密集路演，展示国产GPU进展</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2023年11月</div>
+                    <div class="timeline-content">
+                        <h5>木樨路演</h5>
+                        <p>国产GPU创业公司木樨路演，介绍N/C/G全场景产品线规划，引发市场对国产GPU技术突破的关注</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2024年9月</div>
+                    <div class="timeline-content">
+                        <h5>野村证券发布GPU插槽分析</h5>
+                        <p>野村证券发布AI GPU插槽(Socket)市场潜力分析，预测Nvidia可能在2025年考虑为部分AI GPU采用插槽</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2024年10月</div>
+                    <div class="timeline-content">
+                        <h5>国内算力租赁市场分析</h5>
+                        <p>国内GPU算力租赁市场分析显示"需求放缓、国产替代加速"特点，国内算力机架增长仅5%-6%</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年3月</div>
+                    <div class="timeline-content">
+                        <h5>GTC大会</h5>
+                        <p>GTC大会预计发布GH200新品，单卡算力增长超过50%，中国企业（广和通、麦格米特等）参与度提高</p>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Core Logic -->
+        <section id="logic" class="mb-5">
+            <h2 class="section-title">概念的核心逻辑与市场认知</h2>
+            
+            <div class="row mb-4">
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-lightning-charge-fill text-primary"></i> 核心驱动力</h5>
+                            <div class="mb-3">
+                                <h6>AI大模型带来的算力需求爆发</h6>
+                                <p class="small">以1750亿参数大模型为例，单次训练需30天，年可训练12次。若100个训练模型需求，拉动AI服务器出货量约<strong>9.6%</strong>。推理侧需求更大：谷歌级文字应用，100个推理需求可拉动AI服务器出货量约<strong>600%</strong>。</p>
+                            </div>
+                            <div class="mb-3">
+                                <h6>GPU硬件设计的潜在变革</h6>
+                                <p class="small">野村证券预测，Nvidia可能在2025年考虑为部分AI GPU采用插槽，以提高制造良率并降低"故障成本"。2025/26财年GPU插槽和CAMM连接器的综合TAM预计将达到<strong>960万/3100万美元</strong>。</p>
+                            </div>
+                            <div>
+                                <h6>国产替代加速</h6>
+                                <p class="small">美国对华高端GPU出口限制，促使国内市场加速国产GPU替代进程。华为昇腾910B单精度性能约为H100的<strong>60%</strong>，海光信息GPU性能与英伟达A100相当。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-people-fill text-info"></i> 市场热度与情绪</h5>
+                            <div class="mb-3">
+                                <h6>市场关注度高</h6>
+                                <p class="small">从新闻数据的密集度和路演数据的丰富性可以看出，GPU概念股受到市场高度关注。关联个股数量众多，涵盖GPU芯片设计、服务器制造、配套零部件等多个环节。</p>
+                            </div>
+                            <div class="mb-3">
+                                <h6>情绪存在分歧</h6>
+                                <p class="small">乐观方面：看好AI大模型带来的持续算力需求、国产替代加速、新应用场景拓展。谨慎方面：担忧国内算力需求增长放缓（2024年上半年国内算力机架增长仅<strong>5%-6%</strong>）。</p>
+                            </div>
+                            <div>
+                                <h6>预期分化</h6>
+                                <p class="small">对国际巨头（如英伟达）：看好其技术优势和市场份额，但担忧增长放缓（2024年第二季度同比增速仅约<strong>16%</strong>）。对国内厂商：看好国产替代机遇，但担忧技术差距和生态建设不足。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+
+            <div class="card">
+                <div class="card-body">
+                    <h5 class="card-title"><i class="bi bi-graph-up-arrow text-success"></i> 预期差分析</h5>
+                    <div class="row">
+                        <div class="col-md-6 mb-3">
+                            <div class="border-start border-3 border-primary ps-3">
+                                <h6>技术差距的预期差</h6>
+                                <p class="small">市场普遍认为国内GPU技术与国际巨头差距巨大，但路演数据显示，海光信息GPU性能与英伟达A100相当，华为昇腾910B单精度性能约为H100的60%。这种差距虽然在高端市场仍明显，但在中低端市场已经可以满足部分需求。</p>
+                            </div>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="border-start border-3 border-warning ps-3">
+                                <h6>需求增长的预期差</h6>
+                                <p class="small">研报和新闻强调AI大模型带来的算力需求爆发，但路演数据显示2024年上半年国内算力机架增长仅5%-6%，远低于去年25%的增速。这种需求放缓可能被市场低估，尤其是对国内GPU厂商的影响。</p>
+                            </div>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="border-start border-3 border-info ps-3">
+                                <h6>技术变革的预期差</h6>
+                                <p class="small">市场关注GPU算力的提升，但可能忽视了GPU硬件设计的潜在变革（如插槽化）和无矩阵计算算法等颠覆性技术。路演数据显示，6月18日论文提出无矩阵计算算法，可能大幅降低大型模型对算力的需求。</p>
+                            </div>
+                        </div>
+                        <div class="col-md-6 mb-3">
+                            <div class="border-start border-3 border-success ps-3">
+                                <h6>生态建设的预期差</h6>
+                                <p class="small">市场普遍认为CUDA生态是英伟达的核心壁垒，国内厂商难以突破。但路演数据显示，木樨等国内厂商通过兼容CUDA生态快速获取市场，目标2024年Q2实现生态友好衔接。这种"兼容+自有"的生态建设策略可能被市场低估。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Catalysts -->
+        <section id="catalyst" class="mb-5">
+            <h2 class="section-title">关键催化剂与未来发展路径</h2>
+            
+            <div class="row mb-4">
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h5 class="mb-0"><i class="bi bi-calendar-event"></i> 近期催化剂</h5>
+                        </div>
+                        <div class="card-body">
+                            <div class="mb-3">
+                                <h6><i class="bi bi-star-fill text-warning"></i> GTC大会（2025年3月）</h6>
+                                <p class="small">预计发布新产品GH200，单卡算力预计增长超过<strong>50%</strong>，配备C叉8网卡和1.6T光模块。中国企业（如广和通、麦格米特等）参与度提高，可能带来合作机会。</p>
+                            </div>
+                            <div class="mb-3">
+                                <h6><i class="bi bi-star-fill text-warning"></i> 国产GPU新品发布</h6>
+                                <p class="small">木樨C系列预计2024年Q1正式商用，G系列预计2025年Q1/Q2商用。木樨布局三条GPU产品线：N系列（推理专用）、C系列（训练+推理全能型）、G系列（渲染全能型）。</p>
+                            </div>
+                            <div>
+                                <h6><i class="bi bi-star-fill text-warning"></i> AI GPU插槽化进展</h6>
+                                <p class="small">野村证券预测Nvidia可能在2025年考虑为部分AI GPU采用插槽，以提高制造良率并降低"故障成本"。相关供应链企业（如插槽、连接器制造商）可能受益。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <h5 class="mb-0"><i class="bi bi-roads"></i> 长期发展路径</h5>
+                        </div>
+                        <div class="card-body">
+                            <div class="mb-3">
+                                <h6><i class="bi bi-cpu text-primary"></i> 技术演进路径</h6>
+                                <p class="small">短期（1-2年）：提升单卡算力，缩小与国际巨头的差距；优化能效比；兼容CUDA生态降低迁移成本。中期（2-3年）：构建自有生态；开发专用GPU。长期（3-5年）：实现技术领先；开发颠覆性计算架构。</p>
+                            </div>
+                            <div class="mb-3">
+                                <h6><i class="bi bi-globe text-success"></i> 市场拓展路径</h6>
+                                <p class="small">短期：聚焦国内市场，尤其是政府、国企等对国产化要求高的领域。中期：拓展至企业级市场，如互联网、金融、医疗等。长期：进军国际市场，与国际巨头直接竞争。</p>
+                            </div>
+                            <div>
+                                <h6><i class="bi bi-diagram-3 text-info"></i> 产业链成熟路径</h6>
+                                <p class="small">短期：完善GPU芯片设计能力；建立初步的软件生态。中期：形成完整的GPU产业链；建立成熟的软件生态。长期：形成具有国际竞争力的GPU产业集群；引领技术标准制定。</p>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Industry Chain -->
+        <section class="mb-5">
+            <h2 class="section-title">产业链与核心公司</h2>
+            
+            <div class="industry-chain">
+                <div class="chain-item">
+                    <div class="chain-icon">
+                        <i class="bi bi-cpu"></i>
+                    </div>
+                    <h5>上游</h5>
+                    <p>GPU芯片设计</p>
+                    <small>英伟达、AMD、华为昇腾、海光信息、木樨等</small>
+                </div>
+                <div class="chain-item">
+                    <div class="chain-icon">
+                        <i class="bi bi-server"></i>
+                    </div>
+                    <h5>中游</h5>
+                    <p>GPU服务器与系统集成</p>
+                    <small>浪潮信息、中科曙光、太极股份等</small>
+                </div>
+                <div class="chain-item">
+                    <div class="chain-icon">
+                        <i class="bi bi-cloud"></i>
+                    </div>
+                    <h5>下游</h5>
+                    <p>应用与服务</p>
+                    <small>优刻得、广安爱众等</small>
+                </div>
+                <div class="chain-item">
+                    <div class="chain-icon">
+                        <i class="bi bi-gear"></i>
+                    </div>
+                    <h5>配套</h5>
+                    <p>散热、封装、PCB等</p>
+                    <small>鸿富瀚、长电科技、深南电路等</small>
+                </div>
+            </div>
+        </section>
+
+        <!-- Stock Data -->
+        <section id="stocks" class="mb-5">
+            <h2 class="section-title">GPU概念股数据</h2>
+            
+            <div class="stock-table">
+                <div class="table-responsive">
+                    <table class="table table-hover mb-0">
+                        <thead>
+                            <tr>
+                                <th>股票名称</th>
+                                <th>分类</th>
+                                <th>项目</th>
+                                <th>产业链</th>
+                                <th>关联原因</th>
+                            </tr>
+                        </thead>
+                        <tbody>
+                            <tr>
+                                <td><strong>天普股份</strong></td>
+                                <td><span class="badge bg-primary">拟入主</span></td>
+                                <td>控制权变更</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司实控人尤建义筹划控制权变更事项，增资完成后中吴芯英、海南芯慧合计持有天普50.01%股权</td>
+                            </tr>
+                            <tr>
+                                <td><strong>科德教育</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>中吴芯英</td>
+                                <td><span class="badge-chain badge-ai-model">AI模型优化</span></td>
+                                <td>公司参股的中吴芯英(5.9933%)将DeepSeek-V3系列模型作为重点优化对象</td>
+                            </tr>
+                            <tr>
+                                <td><strong>艾布鲁</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>中吴芯英</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司控股子公司杭州星罗中吴科技(持股50%)持有中吴芯英(杭州)科技7.0465%股份</td>
+                            </tr>
+                            <tr>
+                                <td><strong>浙大网新</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>杭州网新花港</td>
+                                <td><span class="badge-chain badge-gpu-investment">GPU投资</span></td>
+                                <td>公司参与设立的杭州网新花港股权投资合伙企业持有中吴芯英0.5169%股权</td>
+                            </tr>
+                            <tr>
+                                <td><strong>浙数文化</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>中吴芯英</td>
+                                <td><span class="badge-chain badge-gpu-investment">GPU投资</span></td>
+                                <td>公司作为有限合伙人认缴出资2000万元参与投资杭州鸣志创业投资合伙企业</td>
+                            </tr>
+                            <tr>
+                                <td><strong>群兴玩具</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>中吴芯英</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>子公司杭州图灵和中吴芯英展开战略合作，有助于加速包括V-Gen在内的公司各类大模型的落地</td>
+                            </tr>
+                            <tr>
+                                <td><strong>广安爱众</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>重庆亿众</td>
+                                <td><span class="badge-chain badge-liquid-cooling">液冷服务器</span></td>
+                                <td>参股孙公司重庆亿众(持股20%)联合中吴芯英共建丝绸云谷项目，提供芯汇能液冷智能柜</td>
+                            </tr>
+                            <tr>
+                                <td><strong>太极股份</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>天津移动TPU智算中心</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>2025年7月28日，由中吴芯英与太极股份联合参与的天津移动TPU智算中心正式点亮</td>
+                            </tr>
+                            <tr>
+                                <td><strong>和而泰</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司直接持股摩尔线程1.244%，摩尔第四代GPU芯片增加了FP8精度支持，大幅提升AI算力</td>
+                            </tr>
+                            <tr>
+                                <td><strong>联美控股</strong></td>
+                                <td><span class="badge bg-secondary">摩尔线程</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>子公司拉萨联虹对摩尔线程股权投资，初始投资成本为人民币1亿元</td>
+                            </tr>
+                            <tr>
+                                <td><strong>ST华通</strong></td>
+                                <td><span class="badge bg-secondary">摩尔线程</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司及旗下的产业基金少数股权投资了摩尔线程</td>
+                            </tr>
+                            <tr>
+                                <td><strong>盈趣科技</strong></td>
+                                <td><span class="badge bg-secondary">摩尔线程</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司基于战略布局和多元化发展的考虑投资摩尔线程</td>
+                            </tr>
+                            <tr>
+                                <td><strong>圣元环保</strong></td>
+                                <td><span class="badge bg-secondary">摩尔线程</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司通过认购中原前海的基金份额3亿元人民币间接参与了摩尔线程的投资</td>
+                            </tr>
+                            <tr>
+                                <td><strong>初灵信息</strong></td>
+                                <td><span class="badge bg-secondary">摩尔线程</span></td>
+                                <td>摩尔线程</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司所认购的北京中移数字新经济产业基金为摩尔线程的参股方</td>
+                            </tr>
+                            <tr>
+                                <td><strong>旗天科技</strong></td>
+                                <td><span class="badge bg-warning">七彩虹</span></td>
+                                <td>七彩虹</td>
+                                <td><span class="badge-chain badge-graphics-card">显卡</span></td>
+                                <td>2024年7月25日拟通过发行股票变更公司控制权，控股股东变更为七彩虹皓悦</td>
+                            </tr>
+                            <tr>
+                                <td><strong>鸿富瀚</strong></td>
+                                <td><span class="badge bg-warning">七彩虹</span></td>
+                                <td>显卡散热模组</td>
+                                <td><span class="badge-chain badge-gpu-hardware">GPU硬件</span></td>
+                                <td>公司热传事业部有生产显卡散热模组，显卡的客户主要是七彩虹等</td>
+                            </tr>
+                            <tr>
+                                <td><strong>中新集团</strong></td>
+                                <td><span class="badge bg-info">参股</span></td>
+                                <td>苏州元禾璞华智芯</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>公司通过参股苏州元禾璞华智芯(公司对该基金的份额占比为3.5%)间接持有昆仑芯约0.35%股权</td>
+                            </tr>
+                            <tr>
+                                <td><strong>国芯科技</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>战略合作</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>与昆仑芯签署了《战略合作框架协议》，双方将展开在边缘AI计算、车规功能安全SoC等技术领域的合作</td>
+                            </tr>
+                            <tr>
+                                <td><strong>超讯通信</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>沐曦智能</td>
+                                <td><span class="badge-chain badge-gpu-chip">GPU芯片</span></td>
+                                <td>特定行业总代理商，拟与沐曦等共同投资设立沐曦智能(公司持股56%)，未来主要承担芯片的技术服务和服务器整机生产</td>
+                            </tr>
+                            <tr>
+                                <td><strong>迈信林</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>GPU模组</td>
+                                <td><span class="badge-chain badge-gpu-hardware">GPU硬件</span></td>
+                                <td>代理销售沐曦的GPU模组</td>
+                            </tr>
+                            <tr>
+                                <td><strong>优刻得</strong></td>
+                                <td><span class="badge bg-success">合作</span></td>
+                                <td>AI应用</td>
+                                <td><span class="badge-chain badge-ai-application">AI应用</span></td>
+                                <td>与沐曦合作，将围绕云计算、智慧城市、GPU芯片研发和应用，此前比如量化交易、部分AI客户需要大量的A100、A800</td>
+                            </tr>
+                        </tbody>
+                    </table>
+                </div>
+            </div>
+        </section>
+
+        <!-- Risks -->
+        <section id="risks" class="mb-5">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            
+            <div class="row">
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-danger">
+                        <div class="card-header bg-danger text-white">
+                            <h5 class="mb-0"><i class="bi bi-exclamation-triangle"></i> 技术风险</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-danger"></i> <strong>技术差距风险</strong><br>
+                                    <small>国内GPU技术与国际巨头仍存在明显差距，如华为昇腾910B单精度性能约为H100的60%</small>
+                                </li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-danger"></i> <strong>技术变革风险</strong><br>
+                                    <small>无矩阵计算算法等颠覆性技术可能大幅降低大型模型对算力的需求</small>
+                                </li>
+                                <li><i class="bi bi-dash-circle text-danger"></i> <strong>生态建设风险</strong><br>
+                                    <small>CUDA生态是英伟达的核心壁垒，国内厂商建设自有生态面临巨大挑战</small>
+                                </li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-warning">
+                        <div class="card-header bg-warning text-dark">
+                            <h5 class="mb-0"><i class="bi bi-currency-dollar"></i> 商业化风险</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-warning"></i> <strong>需求放缓风险</strong><br>
+                                    <small>2024年上半年国内算力机架增长仅5%-6%，远低于去年25%的增速</small>
+                                </li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-warning"></i> <strong>成本风险</strong><br>
+                                    <small>GPU价格高昂，如英伟达H100 GPU价格约为3万美金，可能限制普及</small>
+                                </li>
+                                <li><i class="bi bi-dash-circle text-warning"></i> <strong>应用场景风险</strong><br>
+                                    <small>机器人等新应用场景的商业化前景尚不明确，需要时间验证</small>
+                                </li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-3">
+                    <div class="card h-100 border-info">
+                        <div class="card-header bg-info text-white">
+                            <h5 class="mb-0"><i class="bi bi-shield-exclamation"></i> 政策与竞争风险</h5>
+                        </div>
+                        <div class="card-body">
+                            <ul class="list-unstyled">
+                                <li class="mb-2"><i class="bi bi-dash-circle text-info"></i> <strong>出口管制风险</strong><br>
+                                    <small>美国对华高端GPU出口限制可能进一步升级，影响国内获取先进GPU技术</small>
+                                </li>
+                                <li class="mb-2"><i class="bi bi-dash-circle text-info"></i> <strong>竞争加剧风险</strong><br>
+                                    <small>国际巨头持续投入研发，国内GPU厂商数量增多，竞争加剧</small>
+                                </li>
+                                <li><i class="bi bi-dash-circle text-info"></i> <strong>政策支持风险</strong><br>
+                                    <small>政策力度和持续性存在不确定性，可能影响国产GPU的替代进程</small>
+                                </li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- Investment Insights -->
+        <section class="mb-5">
+            <h2 class="section-title">投资启示</h2>
+            
+            <div class="card">
+                <div class="card-body">
+                    <h5 class="card-title"><i class="bi bi-lightbulb text-warning"></i> 综合结论</h5>
+                    <p class="card-text">GPU概念股正处于技术变革与国产替代的双重驱动下，当前处于从主题炒作向基本面驱动过渡的关键阶段。一方面，AI大模型带来的算力需求、GPU硬件设计的潜在变革以及新应用场景的拓展为GPU市场提供了长期增长动力；另一方面，国内算力需求增长放缓、国际巨头技术壁垒高以及国产GPU生态建设不足等因素也带来了挑战。</p>
+                    
+                    <hr>
+                    
+                    <div class="row">
+                        <div class="col-md-6">
+                            <h6><i class="bi bi-star-fill text-success"></i> 最具投资价值的细分环节</h6>
+                            <ul class="list-unstyled">
+                                <li><i class="bi bi-check-circle text-success"></i> <strong>GPU芯片设计</strong>：布局全场景产品线、兼容CUDA生态的国内厂商</li>
+                                <li><i class="bi bi-check-circle text-success"></i> <strong>GPU配套产业链</strong>：1.6T光模块、散热模组、先进封装等</li>
+                                <li><i class="bi bi-check-circle text-success"></i> <strong>GPU应用与服务</strong>：算力租赁、行业解决方案等</li>
+                            </ul>
+                        </div>
+                        <div class="col-md-6">
+                            <h6><i class="bi bi-graph-up text-primary"></i> 投资策略建议</h6>
+                            <ul class="list-unstyled">
+                                <li><i class="bi bi-arrow-right-circle text-primary"></i> <strong>长期布局</strong>：GPU是AI时代的核心基础设施，长期增长逻辑清晰</li>
+                                <li><i class="bi bi-arrow-right-circle text-primary"></i> <strong>差异化配置</strong>：国际巨头与国内厂商、不同细分领域差异配置</li>
+                                <li><i class="bi bi-arrow-right-circle text-primary"></i> <strong>关注催化剂</strong>：GTC大会、国产GPU新品发布等事件</li>
+                                <li><i class="bi bi-arrow-right-circle text-primary"></i> <strong>风险控制</strong>：控制仓位，设置止损点，避免过度追高</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+    </div>
+
+    <!-- Footer -->
+    <footer class="footer">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <h5>GPU概念股分析</h5>
+                    <p>AI时代的算力革命与投资机遇</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">© 2025 GPU概念股分析. 仅供参考，不构成投资建议.</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <!-- Bootstrap JS -->
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <!-- Custom JS -->
+    <script>
+        // Smooth scrolling for navigation links
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                const target = document.querySelector(this.getAttribute('href'));
+                if (target) {
+                    window.scrollTo({
+                        top: target.offsetTop - 70,
+                        behavior: 'smooth'
+                    });
+                }
+            });
+        });
+
+        // Add active class to navigation items on scroll
+        window.addEventListener('scroll', () => {
+            let current = '';
+            const sections = document.querySelectorAll('section[id]');
+            
+            sections.forEach(section => {
+                const sectionTop = section.offsetTop;
+                const sectionHeight = section.clientHeight;
+                if (scrollY >= (sectionTop - 100)) {
+                    current = section.getAttribute('id');
+                }
+            });
+
+            document.querySelectorAll('.navbar-nav a').forEach(link => {
+                link.classList.remove('active');
+                if (link.getAttribute('href').slice(1) === current) {
+                    link.classList.add('active');
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+        });
+    </script>
+</body>
+</html>

public/htmls/Grok AI生态发展.html

@@ -0,0 +1,910 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>Grok AI生态发展报告</title>
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+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-white mb-4">Grok AI生态发展报告</h1>
+      <p class="text-xl text-gray-300">从技术验证到生态扩张的AI革命</p>
+    </div>
+    
+    <!-- 概念事件时间轴 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-timeline mr-3 text-blue-400"></i>
+        概念事件时间轴 (2024-03 → 2025-07)
+      </h2>
+      <div class="space-y-4">
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2024-03-29</div>
+          <div class="text-white">xAI开源Grok-1（3140亿参数），首次验证MoE+开源路线。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2024-08-14</div>
+          <div class="text-white">Grok-2发布，LMSYS榜第4，仅次于GPT-4o。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2025-01-04</div>
+          <div class="text-white">马斯克宣布Grok-3预训练完成，<span class="text-purple-400 font-semibold">计算量=10×Grok-2</span>。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2025-02-18</div>
+          <div class="text-white">Grok-3正式上线，<span class="text-purple-400 font-semibold">20万张H100、2亿GPU小时</span>训练，登顶Chatbot Arena（>1400分）。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2025-05-02</div>
+          <div class="text-white">微软Azure AI Foundry拟托管Grok，与OpenAI关系再平衡。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2025-07-10</div>
+          <div class="text-white">Grok-4发布，HLE得分50.7%，<span class="text-purple-400 font-semibold">300美元/月SuperGrok订阅</span>上线。</div>
+        </div>
+        <div class="timeline-item">
+          <div class="text-blue-400 font-semibold">2025-07-20</div>
+          <div class="text-white">马斯克预告儿童版"Baby Grok"，生态向低龄场景延伸。</div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 催化事件 -->
+    <div class="grid grid-cols-1 md:grid-cols-3 gap-6 mb-8">
+      <div class="card-gradient rounded-2xl p-6 shadow-xl">
+        <div class="text-blue-400 text-3xl mb-4">
+          <i class="fas fa-microchip"></i>
+        </div>
+        <h3 class="text-xl font-bold text-white mb-3">算力军备</h3>
+        <p class="text-gray-300">Grok-3/4训练规模指数级放大（10万→20万→100万GPU），直接拉动H100/H200需求。</p>
+      </div>
+      <div class="card-gradient rounded-2xl p-6 shadow-xl">
+        <div class="text-purple-400 text-3xl mb-4">
+          <i class="fas fa-code-branch"></i>
+        </div>
+        <h3 class="text-xl font-bold text-white mb-3">开源节奏</h3>
+        <p class="text-gray-300">xAI采用"延迟开源"策略（当前版本成熟后开源上一代），既保商业化又扩生态。</p>
+      </div>
+      <div class="card-gradient rounded-2xl p-6 shadow-xl">
+        <div class="text-green-400 text-3xl mb-4">
+          <i class="fas fa-globe"></i>
+        </div>
+        <h3 class="text-xl font-bold text-white mb-3">场景破圈</h3>
+        <p class="text-gray-300">从X平台聊天→Tesla车载→Optimus机器人→AI游戏工坊，形成"AI+物理世界"闭环。</p>
+      </div>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-4 flex items-center">
+        <i class="fas fa-lightbulb mr-3 text-yellow-400"></i>
+        核心观点摘要
+      </h2>
+      <div class="bg-gradient-to-r from-blue-900/30 to-purple-900/30 rounded-xl p-4 border border-blue-500/30">
+        <p class="text-gray-200 leading-relaxed">
+          Grok AI已从"技术验证"进入"生态扩张"阶段：以<span class="text-blue-400 font-semibold">超大规模算力+开源模型+场景渗透</span>的三重杠杆，快速抢占AI原生应用入口。未来12个月的核心看点是<span class="text-purple-400 font-semibold">Grok-4商业化落地</span>与<span class="text-purple-400 font-semibold">微软云托管</span>能否带来第二波用户与收入爆发。
+        </p>
+      </div>
+    </div>
+    
+    <!-- 核心逻辑与市场认知 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-brain mr-3 text-pink-400"></i>
+        概念的核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="grid grid-cols-1 lg:grid-cols-2 gap-6 mb-6">
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-4">核心驱动力</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="text-blue-400 mt-1 mr-3">
+                <i class="fas fa-chart-line"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">技术杠杆</div>
+                <div class="text-gray-300 text-sm">Grok-3/4在数学、代码、科学三大基准全面领先（AIME↑27-43% vs DeepSeek-V3），验证"Scaling Law仍未撞墙"。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="text-green-400 mt-1 mr-3">
+                <i class="fas fa-dollar-sign"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">成本杠杆</div>
+                <div class="text-gray-300 text-sm">Grok-3训练成本≈数亿美元（2亿GPU小时×$1-3/小时），但开源后社区微调可摊薄边际成本。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="text-purple-400 mt-1 mr-3">
+                <i class="fas fa-project-diagram"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">场景杠杆</div>
+                <div class="text-gray-300 text-sm">X平台2.5亿DAU、Tesla 700万辆车、Optimus机器人三位一体，形成天然数据-场景闭环。</div>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-white mb-4">市场热度与情绪</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="text-yellow-400 mt-1 mr-3">
+                <i class="fas fa-newspaper"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">新闻端</div>
+                <div class="text-gray-300 text-sm">2-7月Grok相关报道量环比+340%；X平台"#Grok"话题阅读>18亿次。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="text-red-400 mt-1 mr-3">
+                <i class="fas fa-file-alt"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">研报端</div>
+                <div class="text-gray-300 text-sm">2025年2-7月共17篇深度报告聚焦Grok，占AI主题报告21%。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="text-indigo-400 mt-1 mr-3">
+                <i class="fas fa-users"></i>
+              </div>
+              <div>
+                <div class="text-white font-medium">情绪</div>
+                <div class="text-gray-300 text-sm">机构一致预期"算力>应用"，散户更关注"AI伴侣""AI游戏"等C端场景，存在认知分层。</div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div class="bg-gradient-to-r from-red-900/20 to-orange-900/20 rounded-xl p-4 border border-orange-500/30">
+        <h3 class="text-lg font-semibold text-white mb-2">预期差</h3>
+        <ul class="text-gray-200 space-y-2 text-sm">
+          <li>• 市场高估了Grok-4的短期收入弹性（300美元/月订阅渗透率仍<3%），却低估了微软云托管带来的B端API放量（Azure AI Foundry已有>1万家企业排队试用）。</li>
+          <li>• 路演显示Grok-3数学能力≈GPT-4o，但编程能力仅GPT-3.5水平（杨晓峰测评），技术短板未被充分定价。</li>
+        </ul>
+      </div>
+    </div>
+    
+    <!-- 关键催化剂 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-rocket mr-3 text-blue-400"></i>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-blue-400 mb-4">近期（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">1</div>
+              <div>
+                <div class="text-white font-medium">微软Azure托管落地</div>
+                <div class="text-gray-300 text-sm">若Q3前完成，预计带来10-20万企业开发者迁移。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">2</div>
+              <div>
+                <div class="text-white font-medium">Tesla车载Grok推送</div>
+                <div class="text-gray-300 text-sm">FSD V13版本或同步集成，激活700万存量车数据飞轮。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">3</div>
+              <div>
+                <div class="text-white font-medium">Grok-4多模态API</div>
+                <div class="text-gray-300 text-sm">8月发布视频生成接口，直接对标Sora。</div>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-purple-400 mb-4">长期（12-24个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">1</div>
+              <div>
+                <div class="text-white font-medium">100万GPU集群投产</div>
+                <div class="text-gray-300 text-sm">Colossus二期投产，训练成本再降30%，推动Grok-5达到GPT-5水平。</div>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">2</div>
+              <div>
+                <div class="text-white font-medium">机器人场景闭环</div>
+                <div class="text-gray-300 text-sm">Optimus Gen-3搭载Grok-4，2026年量产10万台，验证"AI+物理世界"商业模型。</div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 产业链与核心公司 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-sitemap mr-3 text-green-400"></i>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-white mb-4">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-gradient-to-br from-blue-900/30 to-blue-800/30 rounded-xl p-4 border border-blue-500/30">
+            <div class="text-blue-400 font-semibold mb-2">上游</div>
+            <div class="text-gray-300">GPU/ASIC（英伟达H100→华为昇腾910C）</div>
+          </div>
+          <div class="bg-gradient-to-br from-purple-900/30 to-purple-800/30 rounded-xl p-4 border border-purple-500/30">
+            <div class="text-purple-400 font-semibold mb-2">中游</div>
+            <div class="text-gray-300">光模块（中际旭创、新易盛）、PCB（沪电股份、景旺电子）、液冷（英维克）</div>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/30 to-green-800/30 rounded-xl p-4 border border-green-500/30">
+            <div class="text-green-400 font-semibold mb-2">下游</div>
+            <div class="text-gray-300">云托管（微软Azure）、终端集成（Tesla、X平台）、AI应用（恺英网络、昆仑万维）</div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-white mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-sm">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="text-left py-3 px-4 text-gray-300 font-semibold">公司</th>
+                <th class="text-left py-3 px-4 text-gray-300 font-semibold">角色</th>
+                <th class="text-left py-3 px-4 text-gray-300 font-semibold">验证数据</th>
+                <th class="text-left py-3 px-4 text-gray-300 font-semibold">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 text-white font-medium">中际旭创</td>
+                <td class="py-3 px-4 text-gray-300">光模块龙头</td>
+                <td class="py-3 px-4 text-gray-300">2025年H100 800G光模块份额>50%</td>
+                <td class="py-3 px-4 text-gray-300">若CPO技术突破，价值量或下降</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 text-white font-medium">神州数码</td>
+                <td class="py-3 px-4 text-gray-300">昇腾服务器代工</td>
+                <td class="py-3 px-4 text-gray-300">2025年华为920C服务器出货30-40万张，神州占30-40%份额</td>
+                <td class="py-3 px-4 text-gray-300">华为产能瓶颈</td>
+              </tr>
+              <tr class="border-b border-gray-800">
+                <td class="py-3 px-4 text-white font-medium">恺英网络</td>
+                <td class="py-3 px-4 text-gray-300">AI游戏</td>
+                <td class="py-3 px-4 text-gray-300">已分拆AI引擎子公司，首轮融资1亿元</td>
+                <td class="py-3 px-4 text-gray-300">游戏版号政策收紧</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-white font-medium">微软</td>
+                <td class="py-3 px-4 text-gray-300">云托管</td>
+                <td class="py-3 px-4 text-gray-300">Azure AI Foundry排队企业>1万家</td>
+                <td class="py-3 px-4 text-gray-300">与OpenAI内部竞争</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div class="mt-6 bg-gradient-to-r from-yellow-900/20 to-red-900/20 rounded-xl p-4 border border-yellow-500/30">
+        <h3 class="text-lg font-semibold text-white mb-2">验证与证伪</h3>
+        <ul class="text-gray-200 space-y-2 text-sm">
+          <li>• 研报称"Grok-3训练需20万GPU"，但路演透露实际已扩至100万GPU（2025-07），算力需求被低估。</li>
+          <li>• 关联个股"三变科技"主变进入xAI数据中心，但未在官方供应链名单，需二次验证。</li>
+        </ul>
+      </div>
+    </div>
+    
+    <!-- 潜在风险与挑战 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-red-400"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="text-red-400 mt-1 mr-3">
+              <i class="fas fa-microchip"></i>
+            </div>
+            <div>
+              <div class="text-white font-medium">技术</div>
+              <div class="text-gray-300 text-sm">Grok-4视频生成仍落后于Sora（帧一致性测试差距>15%）。</div>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="text-yellow-400 mt-1 mr-3">
+              <i class="fas fa-dollar-sign"></i>
+            </div>
+            <div>
+              <div class="text-white font-medium">商业化</div>
+              <div class="text-gray-300 text-sm">300美元/月订阅价格下，企业客户付费意愿调研仅42%（路演数据）。</div>
+            </div>
+          </div>
+        </div>
+        <div class="space-y-4">
+          <div class="flex items-start">
+            <div class="text-orange-400 mt-1 mr-3">
+              <i class="fas fa-gavel"></i>
+            </div>
+            <div>
+              <div class="text-white font-medium">政策</div>
+              <div class="text-gray-300 text-sm">美国对华GPU出口管制若升级，华为昇腾910C产能不足将拖累国产替代。</div>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="text-purple-400 mt-1 mr-3">
+              <i class="fas fa-info-circle"></i>
+            </div>
+            <div>
+              <div class="text-white font-medium">信息矛盾</div>
+              <div class="text-gray-300 text-sm">新闻称Grok-3"完全开源"，路演明确"仅延迟开源上一代"，存在表述冲突。</div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 综合结论与投资启示 -->
+    <div class="card-gradient rounded-2xl p-6 mb-8 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-chart-pie mr-3 text-indigo-400"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <div class="bg-gradient-to-r from-indigo-900/30 to-purple-900/30 rounded-xl p-4 border border-indigo-500/30 mb-4">
+          <h3 class="text-lg font-semibold text-white mb-2">阶段判断</h3>
+          <p class="text-gray-200">Grok AI处于"生态扩张早期"，主题热度高但收入尚未放量，类似2023年的ChatGPT。</p>
+        </div>
+        
+        <h3 class="text-xl font-semibold text-white mb-4">高价值细分</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-gradient-to-br from-blue-900/30 to-blue-800/30 rounded-xl p-4 border border-blue-500/30">
+            <div class="text-blue-400 font-semibold mb-2">算力基建</div>
+            <div class="text-gray-300">光模块（中际旭创）、液冷（英维克）——需求弹性最大</div>
+          </div>
+          <div class="bg-gradient-to-br from-green-900/30 to-green-800/30 rounded-xl p-4 border border-green-500/30">
+            <div class="text-green-400 font-semibold mb-2">场景落地</div>
+            <div class="text-gray-300">AI游戏（恺英网络）、AI玩具（泡泡玛特）——用户付费场景清晰</div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-white mb-4">关键跟踪指标</h3>
+        <div class="space-y-3">
+          <div class="flex items-start">
+            <div class="bg-blue-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">1</div>
+            <div>
+              <div class="text-white font-medium">微软Azure托管Grok的API调用量</div>
+              <div class="text-gray-300 text-sm">季度环比>50%为爆发信号</div>
+            </div>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-green-500 rounded-full w-6 h-6 flex items-center justify-center text-white text-xs font-bold mr-3 mt-0.5">2</div>
+            <div>
+              <div class="text-white font-medium">Tesla车载Grok的DAU渗透率</div>
+              <div class="text-gray-300 text-sm">>20%即验证场景闭环</div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关联股票数据 -->
+    <div class="card-gradient rounded-2xl p-6 shadow-2xl">
+      <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+        <i class="fas fa-chart-line mr-3 text-green-400"></i>
+        关联股票数据
+      </h2>
+      
+      <div class="space-y-8">
+        <!-- AI伴侣股票 -->
+        <div>
+          <h3 class="text-xl font-semibold text-blue-400 mb-4">AI伴侣(250716)</h3>
+          <div class="overflow-x-auto">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">股票名称</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">分类</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">项目</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">信息来源</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">天地在线</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">已尝试在AI数字人、企业AI助手等应用产品探索布局</td>
+                  <td class="py-3 px-4 text-gray-300">调研</td>
+                  <td class="py-3 px-4 text-gray-300">公司布局AI数字人及企业AI助手应用产品</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">凡拓数创</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">自研FT-E数字孪生渲染引擎，融合多媒体交互与AI数字人技术</td>
+                  <td class="py-3 px-4 text-gray-300">年报</td>
+                  <td class="py-3 px-4 text-gray-300">自研引擎结合AI数字人技术</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">天娱数科</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">构建以数字人天妤为代表的AI数字人IP矩阵</td>
+                  <td class="py-3 px-4 text-gray-300">年报</td>
+                  <td class="py-3 px-4 text-gray-300">打造AI数字人IP矩阵</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">捷成股份</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">提供数字人全栈技术服务，推出数字人四大产品体系</td>
+                  <td class="py-3 px-4 text-gray-300">公告</td>
+                  <td class="py-3 px-4 text-gray-300">数字人全栈技术及产品体系</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">二六三</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人具备超写实3D形象和自然肢体表现，支持多模态对话交互</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人技术特性</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">初灵信息</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">子公司视达科研发AI数字人应用软件</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">子公司研发AI数字人软件</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">万兴科技</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">万兴播爆/Virbo提供AI多语言视频生成、AI数字人生成等功能</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人生成工具开发</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">凌云光</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">文化元宇宙业务结合AI数字人与智谱大模型</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人与大模型结合</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">易点天下</td>
+                  <td class="py-3 px-4 text-gray-300">AI数字人</td>
+                  <td class="py-3 px-4 text-gray-300">多语种AI数字人、AI模特（多人种虚拟模特）</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">多语种AI数字人及虚拟模特</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">恺英网络</td>
+                  <td class="py-3 px-4 text-gray-300">AI陪伴游戏</td>
+                  <td class="py-3 px-4 text-gray-300">《EVE》主打陪伴的3D AI伴侣应用</td>
+                  <td class="py-3 px-4 text-gray-300">调研</td>
+                  <td class="py-3 px-4 text-gray-300">3D AI伴侣游戏开发</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">巨人网络</td>
+                  <td class="py-3 px-4 text-gray-300">AI陪伴游戏</td>
+                  <td class="py-3 px-4 text-gray-300">"AI残局挑战"为真人玩家与AI玩家推理协作/竞争玩法</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI与真人协作游戏模式</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">富春股份</td>
+                  <td class="py-3 px-4 text-gray-300">AI陪伴游戏</td>
+                  <td class="py-3 px-4 text-gray-300">《仙境传说RO：新启航》推出AI宠物功能</td>
+                  <td class="py-3 px-4 text-gray-300">官微</td>
+                  <td class="py-3 px-4 text-gray-300">游戏内AI宠物功能</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">中文在线</td>
+                  <td class="py-3 px-4 text-gray-300">AI陪伴游戏</td>
+                  <td class="py-3 px-4 text-gray-300">虚拟约会互动游戏产品Myescape</td>
+                  <td class="py-3 px-4 text-gray-300">调研</td>
+                  <td class="py-3 px-4 text-gray-300">虚拟互动游戏产品</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">昆仑万维</td>
+                  <td class="py-3 px-4 text-gray-300">AI社交</td>
+                  <td class="py-3 px-4 text-gray-300">AI社交方面，Linky基于自研大语言模型，深度融合虚拟角色互动与UGC生态</td>
+                  <td class="py-3 px-4 text-gray-300">调研</td>
+                  <td class="py-3 px-4 text-gray-300">AI社交产品结合大模型与虚拟互动</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">汤姆猫</td>
+                  <td class="py-3 px-4 text-gray-300">AI社交</td>
+                  <td class="py-3 px-4 text-gray-300">研发汤姆猫AI情感陪伴机器人，定位家庭场景</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">家庭场景AI情感陪伴机器人</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">上海电影</td>
+                  <td class="py-3 px-4 text-gray-300">AI社交</td>
+                  <td class="py-3 px-4 text-gray-300">参与设立新视野基金布局"AI+社交""AI+游戏""AI+短剧"等泛娱乐产品，以及AI+情感陪伴、AI+互动叙事内容体验等商业化应用</td>
+                  <td class="py-3 px-4 text-gray-300">公告</td>
+                  <td class="py-3 px-4 text-gray-300">多领域AI泛娱乐布局</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">实丰文化</td>
+                  <td class="py-3 px-4 text-gray-300">AI玩具</td>
+                  <td class="py-3 px-4 text-gray-300">与百度智能云达成战略合作，共同发布首批AI玩具生产计划；拟推出特色马年AI玩具产品</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI玩具合作与生产计划</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">万达电影</td>
+                  <td class="py-3 px-4 text-gray-300">AI玩具</td>
+                  <td class="py-3 px-4 text-gray-300">AI养成系玩偶"萌心物语"处于量产前调试阶段</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI养成系玩偶开发</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-white">奥飞娱乐</td>
+                  <td class="py-3 px-4 text-gray-300">AI玩具</td>
+                  <td class="py-3 px-4 text-gray-300">"AI智趣喜羊羊"产品已在天猫、京东等平台发售</td>
+                  <td class="py-3 px-4 text-gray-300">互动</td>
+                  <td class="py-3 px-4 text-gray-300">AI玩具产品已上市</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+        
+        <!-- 马斯克Grok3大模型股票 -->
+        <div>
+          <h3 class="text-xl font-semibold text-purple-400 mb-4">马斯克Grok3大模型(250217)</h3>
+          <div class="overflow-x-auto">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">股票名称</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">项目</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">分类/行业</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">产业链</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-semibold">原因</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">三变科技</td>
+                  <td class="py-3 px-4 text-gray-300">xAI超级计算机中心</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">主变进入马斯克xAI超级计算机中心</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">博创科技</td>
+                  <td class="py-3 px-4 text-gray-300">xAI</td>
+                  <td class="py-3 px-4 text-gray-300">AEC供应商</td>
+                  <td class="py-3 px-4 text-gray-300">光通信</td>
+                  <td class="py-3 px-4 text-gray-300">xAI的AEC（有源铜缆）供应商之一（未证实）</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">海鸥股份</td>
+                  <td class="py-3 px-4 text-gray-300">北美数据中心</td>
+                  <td class="py-3 px-4 text-gray-300">冷却塔供应商</td>
+                  <td class="py-3 px-4 text-gray-300">数据中心冷却</td>
+                  <td class="py-3 px-4 text-gray-300">国内唯一获北美认证的数据中心冷却塔供应商（未证实）</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">光迅科技</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">光通信</td>
+                  <td class="py-3 px-4 text-gray-300">光器件</td>
+                  <td class="py-3 px-4 text-gray-300">光器件供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">太辰光</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">光通信</td>
+                  <td class="py-3 px-4 text-gray-300">光器件</td>
+                  <td class="py-3 px-4 text-gray-300">光器件供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">天孚通信</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">光通信</td>
+                  <td class="py-3 px-4 text-gray-300">光器件</td>
+                  <td class="py-3 px-4 text-gray-300">光器件供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">光库科技</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">光通信</td>
+                  <td class="py-3 px-4 text-gray-300">光器件</td>
+                  <td class="py-3 px-4 text-gray-300">光器件供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">伊戈尔</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">思源电气</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">金盘科技</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">华明装备</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">特变电工</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">望变电气</td>
+                  <td class="py-3 px-4 text-gray-300">-</td>
+                  <td class="py-3 px-4 text-gray-300">电力设备</td>
+                  <td class="py-3 px-4 text-gray-300">变压器</td>
+                  <td class="py-3 px-4 text-gray-300">变压器供应商</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">景旺电子</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">PCB</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">淳中科技</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">电子元件</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">麦格米特</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">电子元件</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">胜宏科技</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">PCB</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">沪电股份</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">PCB</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">鹏鼎控股</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">PCB</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">奥士康</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">PCB</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr class="border-b border-gray-800">
+                  <td class="py-3 px-4 text-white">精研科技</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">电子元件</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+                <tr>
+                  <td class="py-3 px-4 text-white">和林微纳</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3训练</td>
+                  <td class="py-3 px-4 text-gray-300">H100芯片供应商</td>
+                  <td class="py-3 px-4 text-gray-300">电子元件</td>
+                  <td class="py-3 px-4 text-gray-300">Grok3使用10w张H100训练</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </div>
+  </div>
+  
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#3b82f6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/IPO终止相关企业重组预期.html

@@ -0,0 +1,729 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>IPO终止相关企业重组预期 - 行业洞察报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background-color: #0f172a;
+      color: #e2e8f0;
+      overflow-x: hidden;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(135deg, #667eea 0%, #764ba2 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .card-gradient {
+      background: linear-gradient(135deg, rgba(30, 41, 59, 0.9) 0%, rgba(15, 23, 42, 0.9) 100%);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(99, 102, 241, 0.15) 0%, rgba(139, 92, 246, 0.15) 100%);
+      border-left: 4px solid #8b5cf6;
+    }
+    
+    .timeline-dot {
+      position: relative;
+    }
+    
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background: #8b5cf6;
+      top: 50%;
+      left: -8px;
+      transform: translateY(-50%);
+    }
+    
+    .timeline-line {
+      position: absolute;
+      width: 2px;
+      background: #4c1d95;
+      top: 0;
+      bottom: 0;
+      left: -1px;
+    }
+    
+    #tsparticles {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+    
+    .table-container {
+      overflow-x: auto;
+    }
+    
+    @media (max-width: 768px) {
+      .table-container {
+        overflow-x: scroll;
+      }
+    }
+    
+    .badge-industry {
+      display: inline-block;
+      padding: 0.25rem 0.5rem;
+      border-radius: 9999px;
+      font-size: 0.75rem;
+      font-weight: 600;
+    }
+    
+    .industry-semiconductor {
+      background-color: rgba(99, 102, 241, 0.2);
+      color: #a5b4fc;
+    }
+    
+    .industry-tech {
+      background-color: rgba(16, 185, 129, 0.2);
+      color: #6ee7b7;
+    }
+    
+    .industry-medical {
+      background-color: rgba(236, 72, 153, 0.2);
+      color: #f9a8d4;
+    }
+    
+    .industry-agriculture {
+      background-color: rgba(245, 158, 11, 0.2);
+      color: #fcd34d;
+    }
+    
+    .industry-environment {
+      background-color: rgba(14, 165, 233, 0.2);
+      color: #7dd3fc;
+    }
+  </style>
+</head>
+<body>
+  <div id="tsparticles"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">IPO终止相关企业重组预期</h1>
+      <p class="text-lg text-gray-300 max-w-3xl mx-auto">
+        2024年A股IPO审核趋严，形成"堰塞湖"，政策端同步释放并购重组红利，开启硬科技资产证券化"第二入口"
+      </p>
+    </div>
+    
+    <!-- 概念事件 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">概念事件</h2>
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-2 text-purple-300">背景</h3>
+        <p class="text-gray-300 mb-4">
+          2024年A股IPO审核趋严，全年终止IPO企业达<span class="text-purple-400 font-bold">427家</span>（6月单月117家创纪录），形成"堰塞湖"。政策端同步释放并购重组红利，9月"并购六条"明确支持未盈利资产注入、跨行业并购，审核周期缩短至<span class="text-purple-400 font-bold">63天</span>（2024年科创板案例）。
+        </p>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">催化事件</h3>
+        <div class="space-y-3">
+          <div class="highlight-box p-4 rounded-lg">
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">2024年5月</span>：奥拉半导体终止IPO，<span class="text-yellow-300 font-bold">双成药业</span>宣布收购其100%股权，复牌后股价<span class="text-green-400 font-bold">13连板</span>
+            </p>
+          </div>
+          <div class="highlight-box p-4 rounded-lg">
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">2024年7月</span>：中欣晶圆终止IPO，<span class="text-yellow-300 font-bold">富乐德</span>拟收购其半导体资产，复牌首日<span class="text-green-400 font-bold">20cm涨停</span>
+            </p>
+          </div>
+          <div class="highlight-box p-4 rounded-lg">
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">2025年2月</span>：低空经济并购重组论坛明确地方政府将提供政策支持，<span class="text-yellow-300 font-bold">IPO终止企业借壳上市</span>成为焦点
+            </p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">时间轴</h3>
+        <div class="relative pl-6">
+          <div class="timeline-line"></div>
+          <div class="mb-4 timeline-dot">
+            <p class="text-gray-300"><span class="font-bold text-indigo-300">2023Q4-2024Q2</span>：IPO终止潮爆发（月均30+家）</p>
+          </div>
+          <div class="mb-4 timeline-dot">
+            <p class="text-gray-300"><span class="font-bold text-indigo-300">2024年9月</span>：证监会"并购六条"落地，政策拐点确认</p>
+          </div>
+          <div class="timeline-dot">
+            <p class="text-gray-300"><span class="font-bold text-indigo-300">2024年10月起</span>：案例密集披露（双成药业、光智科技等），市场认知强化</p>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">核心观点摘要</h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+        <div class="bg-gradient-to-br from-indigo-900/30 to-purple-900/30 p-4 rounded-lg border border-indigo-500/20">
+          <h3 class="text-lg font-semibold mb-2 text-purple-300">阶段判断</h3>
+          <p class="text-gray-300">
+            当前处于<span class="text-yellow-300 font-bold">政策驱动向基本面验证过渡期</span>，并购重组从主题炒作转向产业整合落地
+          </p>
+        </div>
+        <div class="bg-gradient-to-br from-indigo-900/30 to-purple-900/30 p-4 rounded-lg border border-indigo-500/20">
+          <h3 class="text-lg font-semibold mb-2 text-purple-300">核心驱动力</h3>
+          <p class="text-gray-300">
+            IPO堰塞湖（<span class="text-yellow-300 font-bold">427家终止</span>）+政策松绑（审核提速+支付工具创新）+一级市场退出压力（<span class="text-yellow-300 font-bold">10万项目待退出</span>）
+          </p>
+        </div>
+        <div class="bg-gradient-to-br from-indigo-900/30 to-purple-900/30 p-4 rounded-lg border border-indigo-500/20">
+          <h3 class="text-lg font-semibold mb-2 text-purple-300">未来潜力</h3>
+          <p class="text-gray-300">
+            2025年或迎<span class="text-yellow-300 font-bold">"IPO终止资产注入"大年</span>，半导体、军工、医药等硬科技领域将率先兑现
+          </p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">核心逻辑与市场认知分析</h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">核心驱动力</h3>
+        <div class="space-y-3">
+          <div class="flex items-start">
+            <div class="bg-indigo-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+              <span class="text-xs font-bold">1</span>
+            </div>
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">供需错配</span>：IPO终止企业（<span class="text-yellow-300">半导体占比24%超募资金</span>）急需证券化退出，而上市公司手握<span class="text-yellow-300">874亿港币超募资金</span>需寻找标的
+            </p>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-indigo-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+              <span class="text-xs font-bold">2</span>
+            </div>
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">政策套利</span>：北交所/科创板重组估值包容度提升（允许未盈利资产注入），较IPO路径<span class="text-yellow-300">时间成本降低70%</span>（审核周期从300天缩至63天）
+            </p>
+          </div>
+          <div class="flex items-start">
+            <div class="bg-indigo-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+              <span class="text-xs font-bold">3</span>
+            </div>
+            <p class="text-gray-300">
+              <span class="font-bold text-indigo-300">产业逻辑</span>：硬科技领域（如模拟芯片、军工电子）需通过并购补全产品线（参考TI收购40次终成龙头）
+            </p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">市场热度与情绪</h3>
+          <div class="space-y-2">
+            <div class="flex justify-between items-center">
+              <span class="text-gray-400">新闻热度环比增长</span>
+              <span class="text-green-400 font-bold">+340%</span>
+            </div>
+            <div class="w-full bg-gray-700 rounded-full h-2.5">
+              <div class="bg-green-500 h-2.5 rounded-full" style="width: 85%"></div>
+            </div>
+            <div class="flex justify-between items-center">
+              <span class="text-gray-400">券商研报密集度</span>
+              <span class="text-blue-400 font-bold">8家</span>
+            </div>
+            <div class="w-full bg-gray-700 rounded-full h-2.5">
+              <div class="bg-blue-500 h-2.5 rounded-full" style="width: 70%"></div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">预期差分析</h3>
+          <div class="space-y-3">
+            <div class="bg-red-900/20 p-3 rounded-lg border border-red-500/30">
+              <p class="text-gray-300 text-sm">
+                <span class="font-bold text-red-300">市场共识</span>：认为重组=炒壳，忽视<span class="text-yellow-300">产业整合价值</span>
+              </p>
+            </div>
+            <div class="bg-yellow-900/20 p-3 rounded-lg border border-yellow-500/30">
+              <p class="text-gray-300 text-sm">
+                <span class="font-bold text-yellow-300">忽略点</span>：地方国资正积极撮合IPO终止企业借壳，<span class="text-yellow-300">隐性担保</span>降低失败风险
+              </p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">关键催化剂与未来发展路径</h2>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-purple-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+                <i class="fas fa-calendar-alt text-xs"></i>
+              </div>
+              <div>
+                <p class="font-bold text-indigo-300">2025年Q1</p>
+                <p class="text-gray-300 text-sm">预计《科创板重组估值指引》细则落地，明确未盈利资产定价标准</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+                <i class="fas fa-calendar-alt text-xs"></i>
+              </div>
+              <div>
+                <p class="font-bold text-indigo-300">2025年3月</p>
+                <p class="text-gray-300 text-sm">富乐德收购中欣晶圆方案过会（首例半导体材料并购）</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-purple-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+                <i class="fas fa-calendar-alt text-xs"></i>
+              </div>
+              <div>
+                <p class="font-bold text-indigo-300">2025年4月</p>
+                <p class="text-gray-300 text-sm">军工集团启动IPO终止资产注入（华天科技并购华羿微电子预期）</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold mb-3 text-purple-300">长期路径</h3>
+          <div class="space-y-3">
+            <div class="flex items-start">
+              <div class="bg-blue-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+                <i class="fas fa-chart-line text-xs"></i>
+              </div>
+              <div>
+                <p class="font-bold text-blue-300">2025-2026</p>
+                <p class="text-gray-300 text-sm">IPO终止企业批量借壳，形成"硬科技并购指数"</p>
+              </div>
+            </div>
+            <div class="flex items-start">
+              <div class="bg-blue-600 rounded-full w-6 h-6 flex items-center justify-center mt-1 mr-3 flex-shrink-0">
+                <i class="fas fa-chart-line text-xs"></i>
+              </div>
+              <div>
+                <p class="font-bold text-blue-300">2027后</p>
+                <p class="text-gray-300 text-sm">行业集中度提升，龙头通过并购实现"中国版TI/ADI"</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">产业链与核心公司深度剖析</h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">产业链图谱</h3>
+        <div class="flex flex-col md:flex-row justify-between items-center bg-gradient-to-r from-indigo-900/20 to-purple-900/20 p-4 rounded-lg">
+          <div class="text-center mb-4 md:mb-0">
+            <div class="bg-indigo-600 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+              <i class="fas fa-industry text-2xl"></i>
+            </div>
+            <p class="font-bold text-indigo-300">上游</p>
+            <p class="text-gray-300 text-sm">IPO终止标的</p>
+            <p class="text-gray-400 text-xs">半导体硅片/模拟芯片/军工电子</p>
+          </div>
+          
+          <div class="text-2xl text-gray-500 mb-4 md:mb-0">
+            <i class="fas fa-arrow-right"></i>
+          </div>
+          
+          <div class="text-center mb-4 md:mb-0">
+            <div class="bg-purple-600 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+              <i class="fas fa-building text-2xl"></i>
+            </div>
+            <p class="font-bold text-purple-300">中游</p>
+            <p class="text-gray-300 text-sm">并购方</p>
+            <p class="text-gray-400 text-xs">富乐德、华天科技等</p>
+          </div>
+          
+          <div class="text-2xl text-gray-500 mb-4 md:mb-0">
+            <i class="fas fa-arrow-right"></i>
+          </div>
+          
+          <div class="text-center">
+            <div class="bg-pink-600 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-2">
+              <i class="fas fa-coins text-2xl"></i>
+            </div>
+            <p class="font-bold text-pink-300">下游</p>
+            <p class="text-gray-300 text-sm">产业资本</p>
+            <p class="text-gray-400 text-xs">地方国资、PE基金</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-gray-800/50 rounded-lg overflow-hidden">
+            <thead class="bg-gray-700/50">
+              <tr>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">公司</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">关联IPO终止标的</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">逻辑纯度</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">风险点</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-700">
+              <tr>
+                <td class="py-3 px-4 text-sm font-medium text-indigo-300">富乐德</td>
+                <td class="py-3 px-4 text-sm text-gray-300">中欣晶圆（半导体硅片）</td>
+                <td class="py-3 px-4 text-sm">
+                  <div class="flex">
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                  </div>
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-300">估值溢价过高（PB 8x）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-sm font-medium text-indigo-300">华天科技</td>
+                <td class="py-3 px-4 text-sm text-gray-300">华羿微电子（功率器件）</td>
+                <td class="py-3 px-4 text-sm">
+                  <div class="flex">
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                  </div>
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-300">整合难度大（技术差异）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-sm font-medium text-indigo-300">苏州固锝</td>
+                <td class="py-3 px-4 text-sm text-gray-300">明镐传感（MEMS传感器）</td>
+                <td class="py-3 px-4 text-sm">
+                  <div class="flex">
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                  </div>
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-300">持股比例仅21.6%，控制力弱</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-sm font-medium text-indigo-300">浪潮软件</td>
+                <td class="py-3 px-4 text-sm text-gray-300">华光光电（激光芯片）</td>
+                <td class="py-3 px-4 text-sm">
+                  <div class="flex">
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="fas fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                    <i class="far fa-star text-yellow-400"></i>
+                  </div>
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-300">跨界协同性待验证</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 潜在风险与挑战 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">潜在风险与挑战</h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+        <div class="bg-red-900/20 p-4 rounded-lg border border-red-500/30">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-exclamation-triangle text-red-400 mr-2"></i>
+            <h3 class="text-lg font-semibold text-red-300">技术风险</h3>
+          </div>
+          <p class="text-gray-300 text-sm">半导体并购中晶圆厂整合失败率25%（2014-2016历史数据）</p>
+        </div>
+        
+        <div class="bg-orange-900/20 p-4 rounded-lg border border-orange-500/30">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-chart-line text-orange-400 mr-2"></i>
+            <h3 class="text-lg font-semibold text-orange-300">商业化风险</h3>
+          </div>
+          <p class="text-gray-300 text-sm">未盈利资产注入后商誉减值压力（如双成药业需2025年奥拉半导体净利润≥1.5亿）</p>
+        </div>
+        
+        <div class="bg-yellow-900/20 p-4 rounded-lg border border-yellow-500/30">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-balance-scale text-yellow-400 mr-2"></i>
+            <h3 class="text-lg font-semibold text-yellow-300">政策风险</h3>
+          </div>
+          <p class="text-gray-300 text-sm">若IPO恢复常态化（2025年预计150家/年），并购需求或分流</p>
+        </div>
+        
+        <div class="bg-blue-900/20 p-4 rounded-lg border border-blue-500/30">
+          <div class="flex items-center mb-2">
+            <i class="fas fa-info-circle text-blue-400 mr-2"></i>
+            <h3 class="text-lg font-semibold text-blue-300">信息矛盾</h3>
+          </div>
+          <p class="text-gray-300 text-sm">部分研报预测"并购潮持续3年"，但市场化终止案例显示实际落地率仅60%</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 综合结论与投资启示 -->
+    <div class="card-gradient rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">综合结论与投资启示</h2>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">阶段判断</h3>
+        <div class="bg-gradient-to-r from-purple-900/30 to-indigo-900/30 p-4 rounded-lg">
+          <p class="text-gray-300">
+            当前处于<span class="text-yellow-300 font-bold">"政策红利兑现期"</span>，2025年将进入<span class="text-yellow-300 font-bold">"业绩验证期"</span>
+          </p>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">投资方向</h3>
+        <div class="space-y-4">
+          <div class="bg-gradient-to-r from-green-900/30 to-emerald-900/30 p-4 rounded-lg border-l-4 border-green-500">
+            <p class="font-bold text-green-300 mb-2">首选</p>
+            <p class="text-gray-300">
+              <span class="text-yellow-300">半导体材料/设备</span>（富乐德、华天科技）——技术壁垒高+政策强制国产化
+            </p>
+          </div>
+          <div class="bg-gradient-to-r from-blue-900/30 to-cyan-900/30 p-4 rounded-lg border-l-4 border-blue-500">
+            <p class="font-bold text-blue-300 mb-2">次选</p>
+            <p class="text-gray-300">
+              <span class="text-yellow-300">军工电子</span>（苏州固锝关联的传感器标的）——订单确定性+估值低（PB<2x）
+            </p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-lg font-semibold mb-3 text-purple-300">跟踪指标</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-4">
+          <div class="bg-gray-800/50 p-4 rounded-lg">
+            <div class="flex justify-between items-center mb-2">
+              <span class="text-gray-400">并购过会率</span>
+              <span class="text-green-400 font-bold">78%</span>
+            </div>
+            <div class="w-full bg-gray-700 rounded-full h-2.5 mb-1">
+              <div class="bg-green-500 h-2.5 rounded-full" style="width: 78%"></div>
+            </div>
+            <p class="text-gray-400 text-xs">需维持>70%</p>
+          </div>
+          
+          <div class="bg-gray-800/50 p-4 rounded-lg">
+            <div class="flex justify-between items-center mb-2">
+              <span class="text-gray-400">标的业绩承诺完成率</span>
+              <span class="text-yellow-400 font-bold">待验证</span>
+            </div>
+            <div class="w-full bg-gray-700 rounded-full h-2.5 mb-1">
+              <div class="bg-yellow-500 h-2.5 rounded-full" style="width: 0%"></div>
+            </div>
+            <p class="text-gray-400 text-xs">2025年奥拉半导体等首年对赌达成情况</p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6 p-4 bg-gradient-to-r from-indigo-900/40 to-purple-900/40 rounded-lg border border-indigo-500/30">
+        <p class="text-center text-lg font-bold text-indigo-300">
+          IPO终止不是终点，而是硬科技资产证券化的"第二入口"，2025年将是验证"并购替代IPO"成色的关键年
+        </p>
+      </div>
+    </div>
+    
+    <!-- 关联股票数据表格 -->
+    <div class="card-gradient rounded-xl p-6 shadow-xl">
+      <h2 class="text-2xl font-bold mb-4 text-indigo-300">关联股票数据</h2>
+      <div class="table-container">
+        <table class="min-w-full bg-gray-800/50 rounded-lg overflow-hidden">
+          <thead class="bg-gray-700/50">
+            <tr>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">股票</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">流通市值(亿)</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">已终止IPO企业</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">关系</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">行业</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">产业链/项目</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-300 uppercase tracking-wider">关联原因</th>
+            </tr>
+          </thead>
+          <tbody class="divide-y divide-gray-700">
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">富乐德</td>
+              <td class="py-3 px-4 text-sm text-gray-300">29</td>
+              <td class="py-3 px-4 text-sm text-gray-300">中欣晶圆半导体</td>
+              <td class="py-3 px-4 text-sm text-gray-300">同一实控人</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-semiconductor">半导体</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">半导体材料/制造</td>
+              <td class="py-3 px-4 text-sm text-gray-300">中欣晶圆半导体专注于半导体硅片研发生产，与富乐德同属半导体产业链，且实控人一致</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">浪潮软件</td>
+              <td class="py-3 px-4 text-sm text-gray-300">39</td>
+              <td class="py-3 px-4 text-sm text-gray-300">华光光电</td>
+              <td class="py-3 px-4 text-sm text-gray-300">同一实控人</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-tech">信息技术/光电</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">光电子器件</td>
+              <td class="py-3 px-4 text-sm text-gray-300">华光光电为激光器芯片企业，与浪潮软件同属电子信息产业链，实控人均为浪潮集团</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">苏州固锝</td>
+              <td class="py-3 px-4 text-sm text-gray-300">73</td>
+              <td class="py-3 px-4 text-sm text-gray-300">明镐传感</td>
+              <td class="py-3 px-4 text-sm text-gray-300">持股21.6%子公司</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-tech">电子元器件</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">传感器</td>
+              <td class="py-3 px-4 text-sm text-gray-300">明镐传感为MEMS传感器制造商，苏州固锝通过控股布局智能传感器领域</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">兄弟科技</td>
+              <td class="py-3 px-4 text-sm text-gray-300">25</td>
+              <td class="py-3 px-4 text-sm text-gray-300">朗视仪器</td>
+              <td class="py-3 px-4 text-sm text-gray-300">同一实控人</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-medical">医疗设备</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">医学影像设备</td>
+              <td class="py-3 px-4 text-sm text-gray-300">朗视仪器专注口腔CBCT设备，兄弟科技通过实控人关联布局医疗科技领域</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">汉嘉设计</td>
+              <td class="py-3 px-4 text-sm text-gray-300">29</td>
+              <td class="py-3 px-4 text-sm text-gray-300">伏泰科技</td>
+              <td class="py-3 px-4 text-sm text-gray-300">拟收购51%股权</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-environment">环保科技</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">智慧城市/固废管理</td>
+              <td class="py-3 px-4 text-sm text-gray-300">伏泰科技主营固废监管系统，汉嘉设计拟通过收购拓展智慧城市环保业务板块</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">双城药业</td>
+              <td class="py-3 px-4 text-sm text-gray-300">56</td>
+              <td class="py-3 px-4 text-sm text-gray-300">奥拉半导体</td>
+              <td class="py-3 px-4 text-sm text-gray-300">拟收购100%股权</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-semiconductor">半导体</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">模拟芯片设计</td>
+              <td class="py-3 px-4 text-sm text-gray-300">奥拉半导体为模拟芯片设计企业，双城药业拟通过收购切入半导体领域</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">荃银高科</td>
+              <td class="py-3 px-4 text-sm text-gray-300">58</td>
+              <td class="py-3 px-4 text-sm text-gray-300">先正达</td>
+              <td class="py-3 px-4 text-sm text-gray-300">同一实控人</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-agriculture">农业科技</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">种子/农药</td>
+              <td class="py-3 px-4 text-sm text-gray-300">先正达为全球农业科技巨头，荃银高科与其同属中化农业体系</td>
+            </tr>
+            <tr class="hover:bg-gray-700/30 transition-colors">
+              <td class="py-3 px-4 text-sm font-medium text-indigo-300">华天科技</td>
+              <td class="py-3 px-4 text-sm text-gray-300">250</td>
+              <td class="py-3 px-4 text-sm text-gray-300">华羿微电子</td>
+              <td class="py-3 px-4 text-sm text-gray-300">同一实控人</td>
+              <td class="py-3 px-4 text-sm"><span class="badge-industry industry-semiconductor">半导体</span></td>
+              <td class="py-3 px-4 text-sm text-gray-300">封装测试</td>
+              <td class="py-3 px-4 text-sm text-gray-300">华羿微电子专注功率器件封测，与华天科技同属半导体封测产业链</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+  
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("tsparticles", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#8b5cf6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#8b5cf6",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/IPV6.html

@@ -0,0 +1,558 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>IPv6概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      overflow-x: hidden;
+    }
+    .gradient-bg {
+      background: linear-gradient(135deg, #1a2a6c, #2a4298, #3a5fc8);
+    }
+    .card-shadow {
+      box-shadow: 0 10px 25px -5px rgba(0, 0, 0, 0.1), 0 10px 10px -5px rgba(0, 0, 0, 0.04);
+    }
+    .text-gradient {
+      background: linear-gradient(90deg, #3a5fc8, #00d4ff);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    .highlight-box {
+      background: rgba(255, 255, 255, 0.1);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.2);
+    }
+    #particles-js {
+      position: fixed;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    .table-responsive {
+      overflow-x: auto;
+    }
+    @media (max-width: 768px) {
+      .table-responsive {
+        overflow-x: scroll;
+      }
+    }
+  </style>
+</head>
+<body class="gradient-bg text-white min-h-screen">
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 relative z-10">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 text-gradient">IPv6概念分析报告</h1>
+      <p class="text-xl text-blue-200">政策驱动与应用落地的双轮增长</p>
+    </div>
+
+    <!-- 概念事件 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-calendar-alt mr-3"></i>概念事件
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-blue-900 bg-opacity-30 p-5 rounded-xl">
+          <h3 class="text-xl font-semibold mb-3 text-blue-200">政策催化</h3>
+          <p class="mb-2">2025年5月20日，中央网信办、发改委、工信部联合印发《2025年深入推进IPv6规模部署和应用工作要点》</p>
+          <ul class="text-sm space-y-1">
+            <li>• IPv6活跃用户数8.5亿（当前7.94亿，需新增5600万）</li>
+            <li>• 物联网IPv6连接数11亿（当前约6.5亿，缺口4.5亿）</li>
+            <li>• 移动网络IPv6流量占比70%（当前64.56%，需提升5.44pct）</li>
+            <li>• 固定网络IPv6流量占比27%（当前21.21%，需提升5.79pct）</li>
+          </ul>
+        </div>
+        <div class="bg-blue-900 bg-opacity-30 p-5 rounded-xl">
+          <h3 class="text-xl font-semibold mb-3 text-blue-200">地方试点</h3>
+          <p>2024年8月，北京、上海等8城启动"IPv6流量提升专项行动"，设置8项量化指标</p>
+          <p class="text-sm mt-2">（如家庭路由器IPv6开启率、政企专线使用率）</p>
+        </div>
+        <div class="bg-blue-900 bg-opacity-30 p-5 rounded-xl">
+          <h3 class="text-xl font-semibold mb-3 text-blue-200">技术突破</h3>
+          <p>东土科技牵头制定的基于IPv6的工业控制总线AUTBUS国际标准获IEC发布，填补工业场景空白</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-lightbulb mr-3"></i>核心观点摘要
+      </h2>
+      <div class="bg-gradient-to-r from-blue-800 to-indigo-900 p-6 rounded-xl">
+        <p class="text-lg leading-relaxed">
+          IPv6已从"政策驱动"进入<strong class="text-yellow-300">"应用落地+技术迭代"双轮驱动阶段</strong>，2025年政策目标倒逼产业链加速渗透。<strong class="text-yellow-300">网络设备商（紫光股份、中兴通讯）和物联网模组龙头（移远通信）</strong>是最直接受益方，但需警惕<strong class="text-yellow-300">IPv6与IPv4长期并存</strong>导致的商业化节奏低于预期。
+        </p>
+      </div>
+    </div>
+
+    <!-- 概念的核心逻辑与市场认知分析 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-brain mr-3"></i>概念的核心逻辑与市场认知分析
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-8">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">核心驱动力</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">政策刚性</h4>
+              <p class="text-sm">2025年目标写入部委文件，运营商（移动/电信/联通）年度CAPEX中IPv6改造占比超15%（2024年三大运营商合计投入约500亿，其中IPv6相关约75亿）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">技术痛点</h4>
+              <p class="text-sm">IPv4地址枯竭（全球剩余<5%）叠加物联网爆发（2025年连接数达250亿，IPv6是唯一解）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">成本拐点</h4>
+              <p class="text-sm">IPv6设备单价已降至IPv4的1.2倍（2020年为2倍），规模效应显现</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">市场热度与情绪</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">新闻热度</h4>
+              <p class="text-sm">2025年5月政策发布后，百度指数"IPv6"搜索量单日环比+320%，但机构研报覆盖度仍低（近3个月仅12篇，低于AI主题的200+篇）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">情绪分化</h4>
+              <p class="text-sm">运营商（中国移动）路演中强调"IPv6是算力网络底座"，但设备商（紫光股份）坦言"客户更关注800G交换机，IPv6只是标配功能"</p>
+            </div>
+          </div>
+          <h3 class="text-xl font-semibold mt-6 mb-4 text-blue-200">预期差分析</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">市场忽略点</h4>
+              <p class="text-sm">IPv6单栈部署（纯IPv6网络）进度超预期——北京电信已完成骨干网/城域网/接入网100%单栈改造，而市场预期需到2026年</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">认知误区</h4>
+              <p class="text-sm">投资者将IPv6等同于"网络升级"，忽视其工业场景（如东土科技的AUTBUS标准）和安全增量（启明星辰IPv6防火墙订单2024年同比+200%）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-rocket mr-3"></i>关键催化剂与未来发展路径
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-8">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">近期催化剂（3-6个月）</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">运营商集采</h4>
+              <p class="text-sm">2025年Q3启动的5G核心网集采将强制要求IPv6单栈支持（参考2024年移动集采中IPv6功能占比30%）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">物联网招标</h4>
+              <p class="text-sm">国家电网2025年智能电表招标（预计1.2亿只）明确IPv6模组占比不低于50%（2024年仅20%）</p>
+            </div>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">长期路径（2025-2027）</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">阶段1（2025）</h4>
+              <p class="text-sm">政策达标冲刺，网络设备商订单爆发（预计IPv6相关收入占比从15%→35%）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">阶段2（2026-2027）</h4>
+              <p class="text-sm">应用层创新，如IPv6+SRv6在工业互联网切片中普及（华为已中标宝钢项目）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-sitemap mr-3"></i>产业链与核心公司深度剖析
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-8">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">产业链图谱</h3>
+          <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+            <p class="mb-3"><strong class="text-blue-200">上游</strong>：芯片（华为海思、中兴微电子）→<strong class="text-blue-200">中游</strong>：网络设备（紫光股份、中兴通讯）→<strong class="text-blue-200">下游</strong>：运营商/云厂商（移动、天翼云）</p>
+            <p><strong class="text-blue-200">边缘场景</strong>：物联网模组（移远通信）、工业网关（三旺通信）</p>
+          </div>
+        </div>
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">核心玩家对比</h3>
+          <div class="overflow-x-auto">
+            <table class="min-w-full bg-blue-900 bg-opacity-30 rounded-lg">
+              <thead>
+                <tr>
+                  <th class="py-2 px-4 text-left text-blue-200">公司</th>
+                  <th class="py-2 px-4 text-left text-blue-200">业务纯度</th>
+                  <th class="py-2 px-4 text-left text-blue-200">IPv6相关收入</th>
+                  <th class="py-2 px-4 text-left text-blue-200">关键进展</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr>
+                  <td class="py-2 px-4 border-t border-blue-700">紫光股份</td>
+                  <td class="py-2 px-4 border-t border-blue-700">高</td>
+                  <td class="py-2 px-4 border-t border-blue-700">80亿（15%）</td>
+                  <td class="py-2 px-4 border-t border-blue-700">新华三800G交换机全面支持IPv6单栈</td>
+                </tr>
+                <tr>
+                  <td class="py-2 px-4 border-t border-blue-700">中兴通讯</td>
+                  <td class="py-2 px-4 border-t border-blue-700">中</td>
+                  <td class="py-2 px-4 border-t border-blue-700">60亿（12%）</td>
+                  <td class="py-2 px-4 border-t border-blue-700">中标中国移动2024年IPv6核心网项目</td>
+                </tr>
+                <tr>
+                  <td class="py-2 px-4 border-t border-blue-700">移远通信</td>
+                  <td class="py-2 px-4 border-t border-blue-700">高</td>
+                  <td class="py-2 px-4 border-t border-blue-700">25亿（40%）</td>
+                  <td class="py-2 px-4 border-t border-blue-700">全球首个5G+IPv6模组量产</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+      <div class="mt-6 grid grid-cols-1 md:grid-cols-2 gap-8">
+        <div>
+          <h3 class="text-xl font-semibold mb-4 text-blue-200">验证与证伪</h3>
+          <div class="space-y-4">
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">数据印证</h4>
+              <p class="text-sm">三旺通信路演显示，其IPv6工业网关在手订单1.4亿（同比+20%），但交付周期因客户验收延迟拉长至180天（预期120天）</p>
+            </div>
+            <div class="bg-blue-900 bg-opacity-30 p-4 rounded-lg">
+              <h4 class="font-semibold text-blue-200 mb-2">矛盾点</h4>
+              <p class="text-sm">研报称"IPv6流量占比将快速提升"，但Cogent路演指出IPv6渗透率仅7%（因兼容性问题），需警惕技术替代风险（如IPv4+NAT64长期存在）</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3"></i>潜在风险与挑战
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-blue-900 bg-opacity-30 rounded-lg">
+          <thead>
+            <tr>
+              <th class="py-3 px-4 text-left text-blue-200">风险类型</th>
+              <th class="py-3 px-4 text-left text-blue-200">具体表现</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">技术风险</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6单栈与IPv4应用兼容性不足（如部分金融系统仍依赖IPv4）</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">商业化风险</td>
+              <td class="py-3 px-4 border-t border-blue-700">运营商CAPEX收缩（2025年移动资本开支预计下滑5%），可能压缩IPv6改造预算</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">政策风险</td>
+              <td class="py-3 px-4 border-t border-blue-700">若2025年目标未达成，部委可能下调后续指标（类似2017年"提速降费"回调）</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">信息矛盾</td>
+              <td class="py-3 px-4 border-t border-blue-700">新闻称"IPv6流量占比70%"，但Cogent路演数据为7%（统计口径差异：移动网vs全网）</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-chart-line mr-3"></i>综合结论与投资启示
+      </h2>
+      <div class="bg-gradient-to-r from-blue-800 to-indigo-900 p-6 rounded-xl mb-6">
+        <p class="text-lg leading-relaxed mb-4">
+          <strong class="text-yellow-300">阶段判断</strong>：IPv6处于"政策冲刺+技术验证"过渡期，非主题炒作，但需跟踪<strong class="text-yellow-300">单栈渗透率</strong>这一核心指标。
+        </p>
+        <p class="text-lg leading-relaxed mb-4">
+          <strong class="text-yellow-300">投资方向</strong>：
+        </p>
+        <ol class="list-decimal pl-6 space-y-2">
+          <li><strong class="text-yellow-300">设备商</strong>：紫光股份（800G+IPv6双轮驱动）、中兴通讯（运营商集采份额提升）</li>
+          <li><strong class="text-yellow-300">物联网</strong>：移远通信（5G+IPv6模组龙头，2025年电表招标弹性大）</li>
+        </ol>
+        <p class="text-lg leading-relaxed mt-4">
+          <strong class="text-yellow-300">跟踪指标</strong>：
+        </p>
+        <ul class="list-disc pl-6 space-y-2">
+          <li>2025年Q3运营商IPv6集采规模（预计同比+50%）</li>
+          <li>国家电网IPv6模组招标占比（2025年目标50% vs 2024年20%）</li>
+        </ul>
+      </div>
+      <div class="bg-blue-900 bg-opacity-30 p-6 rounded-xl">
+        <p class="text-xl font-semibold text-center text-yellow-300">
+          IPv6的2025年政策倒计时已启动，设备商订单和物联网渗透率将是验证逻辑的唯一标准
+        </p>
+      </div>
+    </div>
+
+    <!-- 关联股票数据 -->
+    <div class="mb-12 card-shadow rounded-2xl p-6 highlight-box">
+      <h2 class="text-2xl font-bold mb-4 text-blue-300 flex items-center">
+        <i class="fas fa-table mr-3"></i>关联股票数据
+      </h2>
+      <div class="table-responsive">
+        <table class="min-w-full bg-blue-900 bg-opacity-30 rounded-lg">
+          <thead>
+            <tr>
+              <th class="py-3 px-4 text-left text-blue-200">股票</th>
+              <th class="py-3 px-4 text-left text-blue-200">行业</th>
+              <th class="py-3 px-4 text-left text-blue-200">技术/项目</th>
+              <th class="py-3 px-4 text-left text-blue-200">市场地位/应用场景</th>
+              <th class="py-3 px-4 text-left text-blue-200">关联原因</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">中兴通讯</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络设备与光通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">5G与IPv6技术深度融合</td>
+              <td class="py-3 px-4 border-t border-blue-700">运营商核心供应商</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在IPv6领域与5G技术深度融合，并作为运营商核心供应商参与相关项目</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">紫光股份</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络设备与光通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">高端交换机技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">数据中心网络解决方案龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在高端交换机市场占有率领先，并提供数据中心网络解决方案</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">烽火通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络设备与光通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">光网络设备核心厂商</td>
+              <td class="py-3 px-4 border-t border-blue-700">光模块技术持续突破</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司是光网络设备核心厂商，光模块技术持续突破</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">星网锐捷</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络设备与光通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6+2.0关键技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">运营商城域网与骨干网</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司推出锐捷电信级城域网与骨干网路由器，采用IPv6+2.0和SRv6技术</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">浪潮信息</td>
+              <td class="py-3 px-4 border-t border-blue-700">云计算与数据中心</td>
+              <td class="py-3 px-4 border-t border-blue-700">全线IPv6解决方案</td>
+              <td class="py-3 px-4 border-t border-blue-700">服务器行业龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司具备全线IPv6解决方案能力，是服务器行业龙头企业</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">网宿科技</td>
+              <td class="py-3 px-4 border-t border-blue-700">云计算与数据中心</td>
+              <td class="py-3 px-4 border-t border-blue-700">CDN技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">CDN行业龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料及互动，该公司作为CDN行业龙头，积极参与国家IPv6推进工作</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">移远通信</td>
+              <td class="py-3 px-4 border-t border-blue-700">物联网与智能终端</td>
+              <td class="py-3 px-4 border-t border-blue-700">蜂窝物联网模组</td>
+              <td class="py-3 px-4 border-t border-blue-700">全球龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司产品全面支持IPv6协议，是蜂窝物联网模组全球龙头企业</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">广和通</td>
+              <td class="py-3 px-4 border-t border-blue-700">物联网与智能终端</td>
+              <td class="py-3 px-4 border-t border-blue-700">5G模组技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用场景拓展</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在5G模组技术领域领先，持续拓展行业应用场景</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">美的集团</td>
+              <td class="py-3 px-4 border-t border-blue-700">物联网与智能终端</td>
+              <td class="py-3 px-4 border-t border-blue-700">智能家居技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">智能家居头部企业</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司加速布局全屋智能IPv6网络，是智能家居头部企业</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">吉视传媒</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6支持</td>
+              <td class="py-3 px-4 border-t border-blue-700">二代芯片及设备支持IPv6</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司第一代i-pon芯片已支持IPv6，二代芯片及相关设备实现全面支持</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">启明星辰</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6安全解决方案</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全网关领域龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在IPv6安全解决方案领域成熟，是网络安全网关领域龙头企业</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">深信服</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">云安全技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">全栈安全防护能力</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司具备全栈安全防护能力，是云安全市场领先企业</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">安恒信息</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">数据安全技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6环境威胁检测</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在IPv6环境下的威胁检测技术优势突出</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">电科网安</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6创新产品</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6论坛奖项</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司获得2023年IPv6相关奖项及创新产品奖</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">天融信</td>
+              <td class="py-3 px-4 border-t border-blue-700">网络安全</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6安全防护</td>
+              <td class="py-3 px-4 border-t border-blue-700">全方面IPv6产品及解决方案</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司持续开展IPv6安全防护技术研究，提供全方面产品及解决方案</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">用友网络</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用</td>
+              <td class="py-3 px-4 border-t border-blue-700">助力企业数字化转型</td>
+              <td class="py-3 px-4 border-t border-blue-700">工业互联网平台领军企业</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司作为工业互联网平台领军企业，助力企业数字化转型</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">四维图新</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用</td>
+              <td class="py-3 px-4 border-t border-blue-700">高精度地图IPv6适配</td>
+              <td class="py-3 px-4 border-t border-blue-700">车联网数据服务龙头</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司是车联网数据服务龙头企业，高精度地图适配IPv6</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">宝信软件</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用</td>
+              <td class="py-3 px-4 border-t border-blue-700">智能制造解决方案</td>
+              <td class="py-3 px-4 border-t border-blue-700">钢铁行业工业互联网标杆</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据网络资料，该公司在钢铁行业工业互联网领域领先，提供智能制造解决方案</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">东土科技</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用</td>
+              <td class="py-3 px-4 border-t border-blue-700">基于IPv6的AUTBUS国际标准</td>
+              <td class="py-3 px-4 border-t border-blue-700">工业控制总线标准</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司牵头制定基于IPv6的工业控制总线标准，已发布6项国际标准</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 border-t border-blue-700 font-semibold">先进数通</td>
+              <td class="py-3 px-4 border-t border-blue-700">行业应用</td>
+              <td class="py-3 px-4 border-t border-blue-700">IPv6升级技术</td>
+              <td class="py-3 px-4 border-t border-blue-700">技术专项解决方案</td>
+              <td class="py-3 px-4 border-t border-blue-700">根据互动，该公司提供包含IPv6升级改造的技术专项解决方案</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#ffffff"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.5,
+          random: false
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        line_linked: {
+          enable: true,
+          distance: 150,
+          color: "#ffffff",
+          opacity: 0.4,
+          width: 1
+        },
+        move: {
+          enable: true,
+          speed: 2,
+          direction: "none",
+          random: false,
+          straight: false,
+          out_mode: "out",
+          bounce: false
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "grab"
+          },
+          onclick: {
+            enable: true,
+            mode: "push"
+          },
+          resize: true
+        },
+        modes: {
+          grab: {
+            distance: 140,
+            line_linked: {
+              opacity: 1
+            }
+          },
+          push: {
+            particles_nb: 4
+          }
+        }
+      },
+      retina_detect: true
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/Kimi.html

@@ -0,0 +1,850 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>KIMI概念分析报告</title>
+  
+  <!-- Tailwind CSS & DaisyUI -->
+  <script src="https://cdn.tailwindcss.com"></script>
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
+  
+  <!-- Font Awesome -->
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  
+  <!-- Google Fonts -->
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet">
+  
+  <!-- Vanta.js -->
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  
+  <!-- Custom Styles -->
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      min-height: 100vh;
+      position: relative;
+      overflow-x: hidden;
+    }
+    
+    #vanta-bg {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+    
+    .glass-card {
+      background: rgba(255, 255, 255, 0.05);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(255, 255, 255, 0.1);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.37);
+    }
+    
+    .timeline-dot {
+      position: relative;
+    }
+    
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background: #3b82f6;
+      left: -8px;
+      top: 6px;
+      box-shadow: 0 0 0 4px rgba(59, 130, 246, 0.2);
+    }
+    
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 22px;
+      bottom: -22px;
+      width: 1px;
+      background: rgba(59, 130, 246, 0.3);
+    }
+    
+    .timeline-item:last-child .timeline-line {
+      display: none;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(135deg, #60a5fa 0%, #3b82f6 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .hover-lift {
+      transition: all 0.3s ease;
+    }
+    
+    .hover-lift:hover {
+      transform: translateY(-5px);
+      box-shadow: 0 12px 40px 0 rgba(31, 38, 135, 0.5);
+    }
+    
+    .badge-custom {
+      display: inline-flex;
+      align-items: center;
+      padding: 0.25rem 0.75rem;
+      border-radius: 9999px;
+      font-size: 0.75rem;
+      font-weight: 500;
+    }
+    
+    .badge-partner {
+      background-color: rgba(34, 197, 94, 0.2);
+      color: #22c55e;
+      border: 1px solid rgba(34, 197, 94, 0.3);
+    }
+    
+    .badge-invest {
+      background-color: rgba(59, 130, 246, 0.2);
+      color: #3b82f6;
+      border: 1px solid rgba(59, 130, 246, 0.3);
+    }
+    
+    .badge-test {
+      background-color: rgba(251, 146, 60, 0.2);
+      color: #fb923c;
+      border: 1px solid rgba(251, 146, 60, 0.3);
+    }
+    
+    .badge-service {
+      background-color: rgba(168, 85, 247, 0.2);
+      color: #a855f7;
+      border: 1px solid rgba(168, 85, 247, 0.3);
+    }
+    
+    .badge-compute {
+      background-color: rgba(236, 72, 153, 0.2);
+      color: #ec4899;
+      border: 1px solid rgba(236, 72, 153, 0.3);
+    }
+    
+    @media (max-width: 768px) {
+      .timeline-line {
+        left: 15px;
+      }
+      
+      .timeline-dot::before {
+        left: 7px;
+      }
+    }
+  </style>
+</head>
+<body>
+  <div id="vanta-bg"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- Header -->
+    <header class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-white mb-4">
+        <span class="gradient-text">KIMI概念分析报告</span>
+      </h1>
+      <p class="text-gray-300 text-lg max-w-3xl mx-auto">
+        从技术验证到商业化爆发，探索KIMI的AI生态与投资机会
+      </p>
+    </header>
+    
+    <!-- Timeline Section -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-clock-rotate-left mr-3 text-blue-400"></i>
+          概念发展时间轴
+        </h2>
+        
+        <div class="relative pl-8 md:pl-12">
+          <div class="timeline-item relative pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2023-10</span>
+                  <span class="text-gray-300 font-medium">Kimi 1.0发布</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  全球首个支持20万汉字无损上下文的智能助手，月之暗面（Moonshot AI）推出
+                </p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2024-03-18</span>
+                  <span class="text-gray-300 font-medium">200万字上下文突破</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  无损上下文扩展至200万汉字（10倍提升），启动内测，响应速度提升3倍
+                </p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2024-05-13</span>
+                  <span class="text-gray-300 font-medium">AI+医疗布局</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  月之暗面宣布优化Kimi在医学、法律、财经领域的搜索质量，探索Agent应用
+                </p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2024-07-11</span>
+                  <span class="text-gray-300 font-medium">Kimi K2开源</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  开源1万亿参数MoE模型（激活320亿），代码/Agent能力达开源SOTA，成本仅为Claude4的20%
+                </p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative pb-8">
+            <div class="timeline-line"></div>
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2025-01-20</span>
+                  <span class="text-gray-300 font-medium">k1.5多模态模型</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  发布k1.5（对标OpenAI o1），数学/代码/多模态推理追平o1，Short-CoT性能提升550%
+                </p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="timeline-item relative">
+            <div class="timeline-dot">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex flex-col md:flex-row md:items-center md:justify-between mb-2">
+                  <span class="text-blue-400 font-semibold">2025-07-15</span>
+                  <span class="text-gray-300 font-medium">K2日均Token破86.6亿</span>
+                </div>
+                <p class="text-gray-400 text-sm">
+                  5天内需求爆发，金山云/优刻得等云厂商接入，H20芯片解禁催化算力需求
+                </p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Core Viewpoints -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-lightbulb mr-3 text-yellow-400"></i>
+          核心观点摘要
+        </h2>
+        
+        <div class="grid md:grid-cols-2 gap-6">
+          <div class="bg-gray-800 rounded-xl p-6 hover-lift">
+            <h3 class="text-lg font-semibold text-blue-400 mb-3">阶段判断</h3>
+            <p class="text-gray-300">
+              KIMI已从<strong class="text-blue-300">技术验证期</strong>进入<strong class="text-blue-300">商业化爆发期</strong>，核心驱动力是<strong class="text-blue-300">长文本能力+低成本开源</strong>带来的<strong class="text-blue-300">B端API渗透</strong>和<strong class="text-blue-300">C端用户裂变</strong>。
+            </p>
+          </div>
+          
+          <div class="bg-gray-800 rounded-xl p-6 hover-lift">
+            <h3 class="text-lg font-semibold text-blue-400 mb-3">未来潜力</h3>
+            <p class="text-gray-300">
+              K2的开源将复制<strong class="text-blue-300">DeepSeek时刻</strong>，推动<strong class="text-blue-300">AI应用平权</strong>，但需警惕<strong class="text-blue-300">算力瓶颈</strong>和<strong class="text-blue-300">多模态竞争</strong>。
+            </p>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Core Logic -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-brain mr-3 text-purple-400"></i>
+          核心逻辑与市场认知
+        </h2>
+        
+        <div class="space-y-6">
+          <div>
+            <h3 class="text-lg font-semibold text-purple-400 mb-3">核心驱动力</h3>
+            <div class="grid md:grid-cols-2 gap-4">
+              <div class="bg-gray-800 rounded-lg p-4">
+                <h4 class="text-blue-300 font-medium mb-2">技术壁垒</h4>
+                <ul class="text-gray-300 text-sm space-y-1">
+                  <li>• <strong>无损压缩技术</strong>（200万字→20万字推理，成本降90%）</li>
+                  <li>• <strong>MuonClip优化器</strong>（万亿参数训练稳定）</li>
+                  <li>• <strong>OnlineRL范式</strong>（奖励模型迭代闭环，能力无上限）</li>
+                </ul>
+              </div>
+              
+              <div class="bg-gray-800 rounded-lg p-4">
+                <h4 class="text-blue-300 font-medium mb-2">商业化路径</h4>
+                <ul class="text-gray-300 text-sm space-y-1">
+                  <li>• <strong>C端</strong>：微信小程序50万日活（2024-03），自然增长替代APP下载</li>
+                  <li>• <strong>B端</strong>：API定价0.06元/千token（仅为GPT-4的1/38）</li>
+                  <li>• <strong>场景渗透</strong>：法律/金融/医疗领域快速落地</li>
+                </ul>
+              </div>
+            </div>
+          </div>
+          
+          <div>
+            <h3 class="text-lg font-semibold text-purple-400 mb-3">市场热度与情绪</h3>
+            <div class="bg-gray-800 rounded-lg p-4">
+              <div class="grid md:grid-cols-2 gap-4">
+                <div>
+                  <h4 class="text-blue-300 font-medium mb-2">热度指标</h4>
+                  <ul class="text-gray-300 text-sm space-y-1">
+                    <li>• <strong>微信指数峰值</strong>：2024-03-20</li>
+                    <li>• <strong>网页端日活</strong>：90万（2024-04）</li>
+                  </ul>
+                </div>
+                <div>
+                  <h4 class="text-blue-300 font-medium mb-2">研报覆盖</h4>
+                  <ul class="text-gray-300 text-sm space-y-1">
+                    <li>• <strong>深度报告数量</strong>：15篇（2024-03至2025-07）</li>
+                    <li>• <strong>情绪转变</strong>：从"技术突破"到"生态竞争"</li>
+                  </ul>
+                </div>
+              </div>
+            </div>
+          </div>
+          
+          <div>
+            <h3 class="text-lg font-semibold text-purple-400 mb-3">预期差分析</h3>
+            <div class="bg-gradient-to-r from-purple-900/50 to-blue-900/50 rounded-lg p-4 border border-purple-500/30">
+              <div class="grid md:grid-cols-2 gap-4">
+                <div>
+                  <h4 class="text-blue-300 font-medium mb-2">市场共识</h4>
+                  <p class="text-gray-300 text-sm">KIMI = "长文本工具"</p>
+                </div>
+                <div>
+                  <h4 class="text-blue-300 font-medium mb-2">忽略点</h4>
+                  <ul class="text-gray-300 text-sm space-y-1">
+                    <li>• <strong>Agent能力</strong>：工具调用成功率>90%</li>
+                    <li>• <strong>算力杠杆</strong>：阿里云4000张GPU代金券支持</li>
+                  </ul>
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Catalysts & Future -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-rocket mr-3 text-green-400"></i>
+          催化剂与未来发展路径
+        </h2>
+        
+        <div class="grid md:grid-cols-2 gap-6">
+          <div>
+            <h3 class="text-lg font-semibold text-green-400 mb-4">近期催化剂（3-6个月）</h3>
+            <div class="space-y-3">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex items-start">
+                  <div class="bg-green-500/20 rounded-full p-2 mr-3">
+                    <i class="fas fa-microchip text-green-400 text-sm"></i>
+                  </div>
+                  <div>
+                    <h4 class="text-white font-medium mb-1">H20芯片解禁</h4>
+                    <p class="text-gray-400 text-sm">2025-07解决推理算力瓶颈，云厂商订单落地</p>
+                  </div>
+                </div>
+              </div>
+              
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex items-start">
+                  <div class="bg-green-500/20 rounded-full p-2 mr-3">
+                    <i class="fas fa-images text-green-400 text-sm"></i>
+                  </div>
+                  <div>
+                    <h4 class="text-white font-medium mb-1">Kimi+多模态发布</h4>
+                    <p class="text-gray-400 text-sm">预计2025-Q4推出视频理解版本，对标GPT-4V</p>
+                  </div>
+                </div>
+              </div>
+              
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <div class="flex items-start">
+                  <div class="bg-green-500/20 rounded-full p-2 mr-3">
+                    <i class="fas fa-crown text-green-400 text-sm"></i>
+                  </div>
+                  <div>
+                    <h4 class="text-white font-medium mb-1">商业化落地</h4>
+                    <p class="text-gray-400 text-sm">2025-H2开启会员订阅（参考Palace模式）</p>
+                  </div>
+                </div>
+              </div>
+            </div>
+          </div>
+          
+          <div>
+            <h3 class="text-lg font-semibold text-green-400 mb-4">长期路径</h3>
+            <div class="space-y-4">
+              <div class="bg-gradient-to-r from-green-900/30 to-blue-900/30 rounded-lg p-4 border border-green-500/30">
+                <div class="flex items-center mb-2">
+                  <span class="text-green-400 font-bold mr-2">2025-2026</span>
+                  <i class="fas fa-arrow-right text-gray-400 text-xs mr-2"></i>
+                  <span class="text-white font-medium">通用Agent平台</span>
+                </div>
+                <p class="text-gray-300 text-sm">从"ChatBot"升级为"通用Agent平台"（企业级Workflow+垂直场景插件）</p>
+              </div>
+              
+              <div class="bg-gradient-to-r from-green-900/30 to-blue-900/30 rounded-lg p-4 border border-green-500/30">
+                <div class="flex items-center mb-2">
+                  <span class="text-green-400 font-bold mr-2">2027</span>
+                  <i class="fas fa-arrow-right text-gray-400 text-xs mr-2"></i>
+                  <span class="text-white font-medium">多模态统一架构</span>
+                </div>
+                <p class="text-gray-300 text-sm">多模态统一架构（文本+图像+视频），成为国产AGI基座</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Industry Chain -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-network-wired mr-3 text-cyan-400"></i>
+          产业链与核心公司
+        </h2>
+        
+        <div class="mb-6">
+          <h3 class="text-lg font-semibold text-cyan-400 mb-4">产业链图谱</h3>
+          <div class="bg-gray-800 rounded-lg p-6 overflow-x-auto">
+            <div class="flex flex-col md:flex-row items-center justify-center space-y-4 md:space-y-0 md:space-x-8">
+              <div class="text-center">
+                <div class="bg-blue-600 rounded-full w-20 h-20 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-server text-white text-2xl"></i>
+                </div>
+                <p class="text-white font-medium">算力层</p>
+                <p class="text-gray-400 text-sm">阿里云/金山云/优刻得<br>寒武纪/海光信息</p>
+              </div>
+              
+              <div class="hidden md:block text-gray-400">
+                <i class="fas fa-arrow-right text-2xl"></i>
+              </div>
+              
+              <div class="text-center">
+                <div class="bg-purple-600 rounded-full w-20 h-20 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-brain text-white text-2xl"></i>
+                </div>
+                <p class="text-white font-medium">模型层</p>
+                <p class="text-gray-400 text-sm">月之暗面</p>
+              </div>
+              
+              <div class="hidden md:block text-gray-400">
+                <i class="fas fa-arrow-right text-2xl"></i>
+              </div>
+              
+              <div class="text-center">
+                <div class="bg-green-600 rounded-full w-20 h-20 flex items-center justify-center mx-auto mb-2">
+                  <i class="fas fa-layer-group text-white text-2xl"></i>
+                </div>
+                <p class="text-white font-medium">应用层</p>
+                <p class="text-gray-400 text-sm">金山办公-文档Agent<br>恒生电子-金融Agent<br>卫宁健康-医疗Agent</p>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-lg font-semibold text-cyan-400 mb-4">核心玩家对比</h3>
+          <div class="overflow-x-auto">
+            <table class="w-full text-sm">
+              <thead>
+                <tr class="border-b border-gray-700">
+                  <th class="text-left py-3 px-4 text-gray-300 font-medium">公司</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-medium">角色</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-medium">逻辑验证</th>
+                  <th class="text-left py-3 px-4 text-gray-300 font-medium">风险点</th>
+                </tr>
+              </thead>
+              <tbody>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                  <td class="py-3 px-4 text-white font-medium">月之暗面</td>
+                  <td class="py-3 px-4 text-gray-300">模型龙头</td>
+                  <td class="py-3 px-4 text-gray-300">K2开源+日活3600万（2024-11）</td>
+                  <td class="py-3 px-4 text-red-400">多模态落后GPT-4V</td>
+                </tr>
+                <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                  <td class="py-3 px-4 text-white font-medium">金山办公</td>
+                  <td class="py-3 px-4 text-gray-300">应用标杆</td>
+                  <td class="py-3 px-4 text-gray-300">WPS接入Kimi（2024-Q2商业化）</td>
+                  <td class="py-3 px-4 text-red-400">用户付费率待验证</td>
+                </tr>
+                <tr class="hover:bg-gray-800/50">
+                  <td class="py-3 px-4 text-white font-medium">深信服</td>
+                  <td class="py-3 px-4 text-gray-300">云算力</td>
+                  <td class="py-3 px-4 text-gray-300">H20芯片优先供应</td>
+                  <td class="py-3 px-4 text-red-400">政策禁售风险</td>
+                </tr>
+              </tbody>
+            </table>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Risks -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-triangle-exclamation mr-3 text-red-400"></i>
+          潜在风险与挑战
+        </h2>
+        
+        <div class="grid md:grid-cols-2 gap-6">
+          <div class="space-y-4">
+            <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+              <h3 class="text-lg font-semibold text-red-400 mb-3">技术风险</h3>
+              <ul class="text-gray-300 text-sm space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-circle text-red-400 text-xs mt-1.5 mr-2"></i>
+                  <span><strong>多模态延迟</strong>：K1.5仅文本/图像，视频生成需2026年（对比Sora已商用）</span>
+                </li>
+              </ul>
+            </div>
+            
+            <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+              <h3 class="text-lg font-semibold text-red-400 mb-3">商业化风险</h3>
+              <ul class="text-gray-300 text-sm space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-circle text-red-400 text-xs mt-1.5 mr-2"></i>
+                  <span><strong>成本倒挂</strong>：API定价0.06元/千token可能低于推理成本（需H20芯片降价）</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+          
+          <div class="space-y-4">
+            <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+              <h3 class="text-lg font-semibold text-red-400 mb-3">政策风险</h3>
+              <ul class="text-gray-300 text-sm space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-circle text-red-400 text-xs mt-1.5 mr-2"></i>
+                  <span><strong>出口管制</strong>：H20芯片若再被禁，国产算力（昇腾910B）性能缺口30%</span>
+                </li>
+              </ul>
+            </div>
+            
+            <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+              <h3 class="text-lg font-semibold text-red-400 mb-3">信息矛盾</h3>
+              <ul class="text-gray-300 text-sm space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-circle text-red-400 text-xs mt-1.5 mr-2"></i>
+                  <span><strong>用户数据</strong>：路演称"APP日活36万"（2024-04），但新闻称"3600万月活"（2024-11）</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Conclusion -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-flag-checkered mr-3 text-yellow-400"></i>
+          综合结论与投资启示
+        </h2>
+        
+        <div class="space-y-6">
+          <div class="bg-gradient-to-r from-yellow-900/30 to-orange-900/30 rounded-lg p-6 border border-yellow-500/30">
+            <h3 class="text-lg font-semibold text-yellow-400 mb-3">阶段判断</h3>
+            <p class="text-gray-300">
+              KIMI处于<strong class="text-yellow-300">"技术红利兑现→生态扩张"</strong>过渡期，<strong class="text-yellow-300">2025-H2</strong>是关键验证窗口。
+            </p>
+          </div>
+          
+          <div>
+            <h3 class="text-lg font-semibold text-yellow-400 mb-4">投资方向</h3>
+            <div class="grid md:grid-cols-2 gap-4">
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <h4 class="text-blue-300 font-medium mb-2">算力弹性</h4>
+                <ul class="text-gray-300 text-sm space-y-1">
+                  <li>• <strong>金山云</strong>（K2最大云供应商）</li>
+                  <li>• <strong>寒武纪</strong>（国产推理芯片替代）</li>
+                </ul>
+              </div>
+              
+              <div class="bg-gray-800 rounded-lg p-4 hover-lift">
+                <h4 class="text-blue-300 font-medium mb-2">应用爆发</h4>
+                <ul class="text-gray-300 text-sm space-y-1">
+                  <li>• <strong>恒生电子</strong>（金融Agent）</li>
+                  <li>• <strong>卫宁健康</strong>（医疗Agent）</li>
+                </ul>
+              </div>
+            </div>
+          </div>
+          
+          <div>
+            <h3 class="text-lg font-semibold text-yellow-400 mb-4">跟踪指标</h3>
+            <div class="bg-gray-800 rounded-lg p-4">
+              <ul class="text-gray-300 text-sm space-y-2">
+                <li class="flex items-start">
+                  <i class="fas fa-chart-line text-blue-400 mt-1 mr-2"></i>
+                  <span><strong>Kimi API调用量</strong>（月环比>50%为爆发信号）</span>
+                </li>
+                <li class="flex items-start">
+                  <i class="fas fa-microchip text-blue-400 mt-1 mr-2"></i>
+                  <span><strong>H20芯片交付量</strong>（决定推理成本曲线）</span>
+                </li>
+              </ul>
+            </div>
+          </div>
+          
+          <div class="bg-red-900/20 rounded-lg p-4 border border-red-500/30">
+            <p class="text-red-300 text-sm">
+              <strong>风险提示</strong>：若2025-Q4多模态版本延迟或算力成本失控，主题炒作将退潮。
+            </p>
+          </div>
+        </div>
+      </div>
+    </section>
+    
+    <!-- Related Stocks -->
+    <section class="mb-12">
+      <div class="glass-card rounded-2xl p-6 md:p-8">
+        <h2 class="text-2xl font-bold text-white mb-6 flex items-center">
+          <i class="fas fa-chart-line mr-3 text-green-400"></i>
+          关联股票
+        </h2>
+        
+        <div class="overflow-x-auto">
+          <table class="w-full">
+            <thead>
+              <tr class="border-b border-gray-700">
+                <th class="text-left py-3 px-4 text-gray-300 font-medium">股票名称</th>
+                <th class="text-left py-3 px-4 text-gray-300 font-medium">关联类型</th>
+                <th class="text-left py-3 px-4 text-gray-300 font-medium">关联原因</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">九安医疗</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-invest">参股</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">深信服</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-invest">参股</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">华策影视</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-partner">合作</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">掌阅科技</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-partner">合作</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">捷顺科技</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-partner">合作</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">超讯通信</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-partner">合作</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">因赛集团</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-partner">合作</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">博睿数据</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">汉得信息</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">易点天下</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">万兴科技</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">北信源</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">国投智能</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">彩讯股份</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-test">对接测试</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">人民网</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-service">服务</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">海天瑞声</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-service">服务</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">润泽科技</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-compute">算力</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="border-b border-gray-800 hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">亚康股份</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-compute">算力</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+              <tr class="hover:bg-gray-800/50">
+                <td class="py-3 px-4 text-white font-medium">润建股份</td>
+                <td class="py-3 px-4">
+                  <span class="badge-custom badge-compute">算力</span>
+                </td>
+                <td class="py-3 px-4 text-gray-300">Kimi总榜及应用免费榜排名自3月以来快速攀升</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </section>
+  </div>
+  
+  <script>
+    // Initialize Vanta.js waves effect
+    VANTA.WAVES({
+      el: "#vanta-bg",
+      mouseControls: true,
+      touchControls: true,
+      gyroControls: false,
+      minHeight: 200.00,
+      minWidth: 200.00,
+      scale: 1.00,
+      scaleMobile: 1.00,
+      color: 0x1e3a8a,
+      shininess: 30.00,
+      waveHeight: 10.00,
+      waveSpeed: 0.75,
+      zoom: 0.75
+    });
+    
+    // Add smooth scroll behavior
+    document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+      anchor.addEventListener('click', function (e) {
+        e.preventDefault();
+        document.querySelector(this.getAttribute('href')).scrollIntoView({
+          behavior: 'smooth'
+        });
+      });
+    });
+    
+    // Add intersection observer for fade-in animations
+    const observerOptions = {
+      threshold: 0.1,
+      rootMargin: '0px 0px -50px 0px'
+    };
+    
+    const observer = new IntersectionObserver((entries) => {
+      entries.forEach(entry => {
+        if (entry.isIntersecting) {
+          entry.target.style.opacity = '1';
+          entry.target.style.transform = 'translateY(0)';
+        }
+      });
+    }, observerOptions);
+    
+    document.querySelectorAll('section').forEach(section => {
+      section.style.opacity = '0';
+      section.style.transform = 'translateY(20px)';
+      section.style.transition = 'opacity 0.6s ease, transform 0.6s ease';
+      observer.observe(section);
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/MCP.html

@@ -0,0 +1,709 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>MCP概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css2?family=Inter:wght@300;400;500;600;700;800&display=swap" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.4.0/css/all.min.css">
+  <script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
+  <script src="https://cdn.jsdelivr.net/npm/mermaid/dist/mermaid.min.js"></script>
+  <style>
+    body {
+      font-family: 'Inter', sans-serif;
+      background: linear-gradient(135deg, #f5f7fa 0%, #c3cfe2 100%);
+    }
+    .card {
+      backdrop-filter: blur(10px);
+      background-color: rgba(255, 255, 255, 0.85);
+      border: 1px solid rgba(255, 255, 255, 0.18);
+      box-shadow: 0 8px 32px 0 rgba(31, 38, 135, 0.15);
+    }
+    .timeline-dot {
+      position: relative;
+    }
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 16px;
+      height: 16px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+      top: 50%;
+      left: 50%;
+      transform: translate(-50%, -50%);
+      z-index: 2;
+    }
+    .timeline-line {
+      position: absolute;
+      width: 2px;
+      background-color: #d1d5db;
+      top: 0;
+      bottom: 0;
+      left: 50%;
+      transform: translateX(-50%);
+      z-index: 1;
+    }
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+    }
+    .hover-scale {
+      transition: transform 0.3s ease;
+    }
+    .hover-scale:hover {
+      transform: scale(1.02);
+    }
+    @media (max-width: 768px) {
+      .timeline-line {
+        left: 20px;
+      }
+      .timeline-dot::before {
+        left: 20px;
+      }
+    }
+  </style>
+</head>
+<body class="min-h-screen p-4 md:p-8">
+  <div class="max-w-7xl mx-auto">
+    <!-- 标题部分 -->
+    <div class="text-center mb-10">
+      <h1 class="text-4xl md:text-5xl font-bold gradient-text mb-4">MCP概念分析报告</h1>
+      <p class="text-lg text-gray-600 max-w-3xl mx-auto">Model Context Protocol - AI时代的"USB-C接口"，正在重塑人工智能应用生态</p>
+    </div>
+
+    <!-- 概念事件时间轴 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-timeline mr-3 text-blue-500"></i>概念事件时间轴
+      </h2>
+      <div class="relative">
+        <div class="timeline-line hidden md:block"></div>
+        <div class="space-y-6">
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2024-11-25</h3>
+              <p class="text-gray-600">Anthropic开源MCP，定位为"AI的USB-C接口"</p>
+              <p class="text-sm text-gray-500 mt-1">来源：中信证券、华泰、天风研报</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200">
+              <div class="bg-blue-50 p-4 rounded-lg">
+                <p class="text-sm text-blue-800">MCP协议首次亮相，为AI与工具的连接提供标准化接口</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0 order-2 md:order-1">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-03-27</h3>
+              <p class="text-gray-600">Sam Altman宣布OpenAI全线支持MCP</p>
+              <p class="text-sm text-gray-500 mt-1">来源：路演纪要</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200 order-1 md:order-2">
+              <div class="bg-green-50 p-4 rounded-lg">
+                <p class="text-sm text-green-800">OpenAI加入MCP生态，Google发布互补协议A2A</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-04-09</h3>
+              <p class="text-gray-600">阿里云百炼上线首个全生命周期MCP服务</p>
+              <p class="text-sm text-gray-500 mt-1">来源：阿里云官方</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200">
+              <div class="bg-purple-50 p-4 rounded-lg">
+                <p class="text-sm text-purple-800">5分钟搭建Agent，大幅降低开发门槛</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0 order-2 md:order-1">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-04-15</h3>
+              <p class="text-gray-600">魔搭社区MCP广场上线，1,485个MCP Server首发</p>
+              <p class="text-sm text-gray-500 mt-1">来源：36氪</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200 order-1 md:order-2">
+              <div class="bg-yellow-50 p-4 rounded-lg">
+                <p class="text-sm text-yellow-800">支付宝/高德/Notion等主流应用接入</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-04-17</h3>
+              <p class="text-gray-600">字节Trae CN IDE、MiniMax、百度App Builder等宣布支持MCP</p>
+              <p class="text-sm text-gray-500 mt-1">来源：路演纪要</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200">
+              <div class="bg-red-50 p-4 rounded-lg">
+                <p class="text-sm text-red-800">国内科技巨头集体入局，生态快速扩张</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0 order-2 md:order-1">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-04-21</h3>
+              <p class="text-gray-600">腾讯元宝、扣子空间、360纳米AI更新MCP能力</p>
+              <p class="text-sm text-gray-500 mt-1">来源：路演纪要</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200 order-1 md:order-2">
+              <div class="bg-indigo-50 p-4 rounded-lg">
+                <p class="text-sm text-indigo-800">头部企业全面布局，MCP生态日趋完善</p>
+              </div>
+            </div>
+          </div>
+          
+          <div class="flex flex-col md:flex-row items-start">
+            <div class="md:w-1/2 md:pr-8 md:text-right pb-4 md:pb-0">
+              <div class="timeline-dot hidden md:block"></div>
+              <h3 class="font-semibold text-lg text-gray-800">2025-06-13</h3>
+              <p class="text-gray-600">百度搜索MCP广场收录1.6万Server，成国内最大导航站</p>
+              <p class="text-sm text-gray-500 mt-1">来源：百度官方</p>
+            </div>
+            <div class="md:w-1/2 md:pl-8 pt-4 md:pt-0 border-t md:border-t-0 md:border-l border-gray-200">
+              <div class="bg-teal-50 p-4 rounded-lg">
+                <p class="text-sm text-teal-800">MCP生态爆发式增长，开发者社区活跃</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 核心观点摘要 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-lightbulb mr-3 text-yellow-500"></i>核心观点摘要
+      </h2>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+        <div class="bg-gradient-to-br from-blue-50 to-blue-100 p-6 rounded-xl border border-blue-200">
+          <div class="text-blue-600 text-3xl mb-4">
+            <i class="fas fa-chart-line"></i>
+          </div>
+          <h3 class="font-bold text-lg text-gray-800 mb-2">阶段判断</h3>
+          <p class="text-gray-700">MCP正处于"协议红利期"的早期爆发阶段，类比2010年移动互联网的TCP/IP时刻。</p>
+        </div>
+        
+        <div class="bg-gradient-to-br from-green-50 to-green-100 p-6 rounded-xl border border-green-200">
+          <div class="text-green-600 text-3xl mb-4">
+            <i class="fas fa-rocket"></i>
+          </div>
+          <h3 class="font-bold text-lg text-gray-800 mb-2">核心驱动力</h3>
+          <p class="text-gray-700">巨头生态卡位战（阿里/腾讯/字节/百度/360）+ 开发者降本增效刚需（将N×M次API对接简化为N+M次）。</p>
+        </div>
+        
+        <div class="bg-gradient-to-br from-purple-50 to-purple-100 p-6 rounded-xl border border-purple-200">
+          <div class="text-purple-600 text-3xl mb-4">
+            <i class="fas fa-globe"></i>
+          </div>
+          <h3 class="font-bold text-lg text-gray-800 mb-2">未来潜力</h3>
+          <p class="text-gray-700">若2025年Agent应用渗透率突破10%，MCP将成为AI时代的"HTTP协议"，市场规模或达千亿级（基于API调用费+平台抽成）。</p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 概念核心逻辑与市场认知分析 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-brain mr-3 text-purple-500"></i>概念核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">核心驱动力拆解</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-100">
+              <tr>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">维度</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">具体逻辑</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">数据支撑</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-200">
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">技术突破</td>
+                <td class="py-3 px-4 text-gray-700">MCP将LLM与工具的"硬编码"变为"即插即用"</td>
+                <td class="py-3 px-4 text-gray-700">传统100个Agent×100个工具需1万次开发，MCP仅需200次配置（中信证券）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">成本拐点</td>
+                <td class="py-3 px-4 text-gray-700">阿里云百炼实测：5分钟完成Agent搭建，Token成本降低50%</td>
+                <td class="py-3 px-4 text-gray-700">路演纪要</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">生态杠杆</td>
+                <td class="py-3 px-4 text-gray-700">巨头用MCP绑定开发者</td>
+                <td class="py-3 px-4 text-gray-700">魔搭1,485个Server、百度1.6万Server（36氪、百度官方）</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">市场热度与情绪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-yellow-50 p-5 rounded-lg border border-yellow-200">
+            <h4 class="font-semibold text-gray-800 mb-3 flex items-center">
+              <i class="fas fa-newspaper mr-2 text-yellow-600"></i>研报密度
+            </h4>
+            <p class="text-gray-700">4月15-28日12篇头部券商（中信/华泰/天风/申万）集中覆盖，关键词"AI时代的TCP/IP"。</p>
+          </div>
+          
+          <div class="bg-green-50 p-5 rounded-lg border border-green-200">
+            <h4 class="font-semibold text-gray-800 mb-3 flex items-center">
+              <i class="fas fa-chart-bar mr-2 text-green-600"></i>情绪指标
+            </h4>
+            <ul class="space-y-2 text-gray-700">
+              <li><span class="font-medium">乐观：</span>合合信息30%涨幅（底部推荐+MCP预期）</li>
+              <li><span class="font-medium">分歧：</span>路演显示千问2.5多任务调用错误率>30%（阿里工程师承认需千问3优化）</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">预期差分析</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-100">
+              <tr>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">市场共识</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">路演验证</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">预期差</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-200">
+              <tr>
+                <td class="py-3 px-4 text-gray-700">MCP已成熟商用</td>
+                <td class="py-3 px-4 text-gray-700">实际本地化功能受限（如文件管理需翻墙）</td>
+                <td class="py-3 px-4 text-red-600 font-medium">技术落地慢于预期</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-gray-700">所有API都能接入</td>
+                <td class="py-3 px-4 text-gray-700">腾讯仅支持自有生态（微信地图可用，高德被屏蔽）</td>
+                <td class="py-3 px-4 text-red-600 font-medium">生态割裂风险</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 text-gray-700">算力需求线性增长</td>
+                <td class="py-3 px-4 text-gray-700">路演披露复杂任务Token消耗达94万/次（意大利旅行案例）</td>
+                <td class="py-3 px-4 text-red-600 font-medium">成本可能指数级上升</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-fire mr-3 text-red-500"></i>关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">近期催化剂（3-6个月）</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+          <div class="bg-blue-50 p-5 rounded-lg border border-blue-200">
+            <div class="text-blue-600 text-2xl mb-3">
+              <i class="fas fa-calendar-alt"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">千问3发布</h4>
+            <p class="text-sm text-gray-600 mb-2">2025年5月（路演确认）</p>
+            <p class="text-gray-700">解决多任务调用错误率，推动B端Agent落地</p>
+          </div>
+          
+          <div class="bg-green-50 p-5 rounded-lg border border-green-200">
+            <div class="text-green-600 text-2xl mb-3">
+              <i class="fab fa-weixin"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">腾讯微信Agent入口</h4>
+            <p class="text-sm text-gray-600 mb-2">2025年Q3（路演预期）</p>
+            <p class="text-gray-700">10亿DAU流量导入，C端MCP需求爆发</p>
+          </div>
+          
+          <div class="bg-purple-50 p-5 rounded-lg border border-purple-200">
+            <div class="text-purple-600 text-2xl mb-3">
+              <i class="fas fa-bolt"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">国家电网MCP招标</h4>
+            <p class="text-sm text-gray-600 mb-2">2025年Q2（天风路演）</p>
+            <p class="text-gray-700">央国企预算释放，亚信科技/海光信息订单验证</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">长期路径（2025-2027）</h3>
+        <div class="bg-gray-50 p-6 rounded-lg">
+          <div class="mermaid" id="mermaid-diagram">
+            graph TD
+            A[2025:协议红利期] --> B[2026:工具平权期]
+            B --> C[2027:生态垄断期]
+            A --> D[开发者涌入: MCP Server>10万]
+            B --> E[头部平台抽成30%（类似App Store）]
+            C --> F[3-5家巨头控制90%流量入口]
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-sitemap mr-3 text-indigo-500"></i>产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">产业链图谱</h3>
+        <div class="bg-gray-50 p-6 rounded-lg">
+          <div class="mermaid" id="mermaid-industry">
+            graph LR
+            上游[模型层] --> 中游[协议层] --> 下游[应用层]
+            上游 --> 阿里/腾讯/字节/百度
+            中游 --> MCP Server托管（阿里云百炼/腾讯云/360）
+            下游 --> 办公(金山办公) / ERP(用友/金蝶) / 支付(支付宝) / 地图(高德)
+          </div>
+        </div>
+      </div>
+      
+      <div class="mb-8">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-100">
+              <tr>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">公司</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">角色</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">进展</th>
+                <th class="py-3 px-4 text-left text-gray-700 font-semibold">风险</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-200">
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">阿里巴巴</td>
+                <td class="py-3 px-4 text-gray-700">生态主导者</td>
+                <td class="py-3 px-4 text-gray-700">百炼平台50+Server、魔搭1,485Server</td>
+                <td class="py-3 px-4 text-red-600">千问3延迟发布</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">腾讯</td>
+                <td class="py-3 px-4 text-gray-700">流量入口</td>
+                <td class="py-3 px-4 text-gray-700">微信/元宝10亿DAU待激活</td>
+                <td class="py-3 px-4 text-red-600">生态封闭（仅支持腾讯系）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">字节跳动</td>
+                <td class="py-3 px-4 text-gray-700">开发者工具</td>
+                <td class="py-3 px-4 text-gray-700">Trae CN IDE 84个MCP内测</td>
+                <td class="py-3 px-4 text-red-600">扣子空间服务器多次崩溃（路演反馈）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">360</td>
+                <td class="py-3 px-4 text-gray-700">全链条布局</td>
+                <td class="py-3 px-4 text-gray-700">纳米AI 110+工具+安全网关</td>
+                <td class="py-3 px-4 text-red-600">商业化路径不清晰</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-gray-800">合合信息</td>
+                <td class="py-3 px-4 text-gray-700">API工具商</td>
+                <td class="py-3 px-4 text-gray-700">TextIn 2.0可接入MCP</td>
+                <td class="py-3 px-4 text-red-600">需验证调用频次</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">验证与证伪</h3>
+        <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+          <div class="bg-green-50 p-5 rounded-lg border border-green-200">
+            <h4 class="font-semibold text-gray-800 mb-3 flex items-center">
+              <i class="fas fa-check-circle mr-2 text-green-600"></i>证真
+            </h4>
+            <p class="text-gray-700">支付宝MCP Server已支持真实支付场景（路演演示完成1元转账）。</p>
+          </div>
+          
+          <div class="bg-red-50 p-5 rounded-lg border border-red-200">
+            <h4 class="font-semibold text-gray-800 mb-3 flex items-center">
+              <i class="fas fa-times-circle mr-2 text-red-600"></i>证伪
+            </h4>
+            <p class="text-gray-700">路演显示MiniMax语音生成MCP存在文件保存失败（虚假响应），需人工修正。</p>
+          </div>
+        </div>
+      </div>
+    </div>
+
+    <!-- 潜在风险与挑战 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-orange-500"></i>潜在风险与挑战
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-white rounded-lg overflow-hidden">
+          <thead class="bg-gray-100">
+            <tr>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">风险类型</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">具体表现</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">数据支撑</th>
+            </tr>
+          </thead>
+          <tbody class="divide-y divide-gray-200">
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">技术瓶颈</td>
+              <td class="py-3 px-4 text-gray-700">多任务调用错误率>30%（千问2.5）</td>
+              <td class="py-3 px-4 text-gray-700">阿里路演纪要</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">商业化</td>
+              <td class="py-3 px-4 text-gray-700">复杂任务Token成本>100美元/次（意大利旅行案例）</td>
+              <td class="py-3 px-4 text-gray-700">中泰传媒路演</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">政策风险</td>
+              <td class="py-3 px-4 text-gray-700">本地化功能需翻墙（如文件系统访问）</td>
+              <td class="py-3 px-4 text-gray-700">华泰路演</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">竞争风险</td>
+              <td class="py-3 px-4 text-gray-700">Google A2A协议与MCP直接竞争</td>
+              <td class="py-3 px-4 text-gray-700">谷歌官方公告</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+
+    <!-- 综合结论与投资启示 -->
+    <div class="card rounded-2xl p-6 mb-8 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-flag-checkered mr-3 text-teal-500"></i>综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <div class="bg-gradient-to-r from-blue-50 to-indigo-50 p-6 rounded-xl border border-blue-200">
+          <h3 class="font-bold text-lg text-gray-800 mb-3">阶段判断</h3>
+          <p class="text-gray-700">MCP处于主题炒作向基本面过渡阶段，类似2023年初的ChatGPT插件。</p>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">高价值细分</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-6">
+          <div class="bg-white p-5 rounded-lg border border-gray-200 shadow-sm">
+            <div class="text-blue-600 text-3xl mb-3">
+              <i class="fas fa-tools"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">工具API商</h4>
+            <p class="text-sm text-gray-600 mb-2">合合信息/福昕软件</p>
+            <p class="text-gray-700">轻资产+高毛利，直接受益于调用量增长。</p>
+          </div>
+          
+          <div class="bg-white p-5 rounded-lg border border-gray-200 shadow-sm">
+            <div class="text-green-600 text-3xl mb-3">
+              <i class="fas fa-cloud"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">云托管平台</h4>
+            <p class="text-sm text-gray-600 mb-2">阿里云/腾讯云</p>
+            <p class="text-gray-700">抽成模式清晰，类似"AI App Store"。</p>
+          </div>
+          
+          <div class="bg-white p-5 rounded-lg border border-gray-200 shadow-sm">
+            <div class="text-purple-600 text-3xl mb-3">
+              <i class="fas fa-building"></i>
+            </div>
+            <h4 class="font-semibold text-gray-800 mb-2">央国企集成商</h4>
+            <p class="text-sm text-gray-600 mb-2">亚信科技/海光信息</p>
+            <p class="text-gray-700">订单确定性高（国家电网/银行招标）。</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-4">关键跟踪指标</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-yellow-50 p-4 rounded-lg border border-yellow-200">
+            <h4 class="font-semibold text-gray-800 mb-2">MCP Server数量</h4>
+            <p class="text-gray-700">每月增速>50%（当前1.6万→年底或破5万）</p>
+          </div>
+          
+          <div class="bg-blue-50 p-4 rounded-lg border border-blue-200">
+            <h4 class="font-semibold text-gray-800 mb-2">Token消耗占比</h4>
+            <p class="text-gray-700">阿里千问7万亿/日中MCP调用占比（当前<5%）</p>
+          </div>
+          
+          <div class="bg-green-50 p-4 rounded-lg border border-green-200">
+            <h4 class="font-semibold text-gray-800 mb-2">标杆订单</h4>
+            <p class="text-gray-700">Q2国家电网MCP框架采购金额（预期>10亿元）</p>
+          </div>
+        </div>
+        
+        <div class="mt-6 bg-red-50 p-4 rounded-lg border border-red-200">
+          <p class="text-red-800 font-medium">
+            <i class="fas fa-exclamation-circle mr-2"></i>风险提示：若千问3发布延迟或腾讯微信入口跳票，板块或面临30%以上回撤。
+          </p>
+        </div>
+      </div>
+    </div>
+
+    <!-- 关联股票表格 -->
+    <div class="card rounded-2xl p-6 hover-scale">
+      <h2 class="text-2xl font-bold text-gray-800 mb-6 flex items-center">
+        <i class="fas fa-chart-line mr-3 text-green-500"></i>关联股票
+      </h2>
+      <div class="overflow-x-auto">
+        <table class="min-w-full bg-white rounded-lg overflow-hidden">
+          <thead class="bg-gray-100">
+            <tr>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">股票名称</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">项目</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">行业</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">产业链</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">应用场景</th>
+              <th class="py-3 px-4 text-left text-gray-700 font-semibold">原因</th>
+            </tr>
+          </thead>
+          <tbody class="divide-y divide-gray-200">
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">东方材料</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务</td>
+              <td class="py-3 px-4 text-gray-700">技术协议</td>
+              <td class="py-3 px-4 text-gray-700">子公司合作</td>
+              <td class="py-3 px-4 text-gray-700">-</td>
+              <td class="py-3 px-4 text-gray-700">子公司东方超算官微发布全新MCP服务，与全球领先技术协议'接轨'</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">恒锋信息</td>
+              <td class="py-3 px-4 text-gray-700">MCP技术应用</td>
+              <td class="py-3 px-4 text-gray-700">公共安全</td>
+              <td class="py-3 px-4 text-gray-700">智能化升级</td>
+              <td class="py-3 px-4 text-gray-700">-</td>
+              <td class="py-3 px-4 text-gray-700">公司在公共安全领域的三大场景使用MCP技术实现了智能化升级</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">汉得信息</td>
+              <td class="py-3 px-4 text-gray-700">灵臻AI中台1.6版</td>
+              <td class="py-3 px-4 text-gray-700">AI技术</td>
+              <td class="py-3 px-4 text-gray-700">产品发布</td>
+              <td class="py-3 px-4 text-gray-700">-</td>
+              <td class="py-3 px-4 text-gray-700">汉得灵臻AI中台1.6版即将发布，全面支持MCP</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">石基信息</td>
+              <td class="py-3 px-4 text-gray-700">MCP协议</td>
+              <td class="py-3 px-4 text-gray-700">智能客服、需求预测</td>
+              <td class="py-3 px-4 text-gray-700">跨应用服务协同</td>
+              <td class="py-3 px-4 text-gray-700">酒店业Agent</td>
+              <td class="py-3 px-4 text-gray-700">MCP协议下公司平台可高效整合智能客服、需求预测等AI工具，实现跨应用服务协同，成为酒店业Agent落地的核心载体</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">合合信息</td>
+              <td class="py-3 px-4 text-gray-700">TextIn大模型加速器2.0</td>
+              <td class="py-3 px-4 text-gray-700">文档/图像处理</td>
+              <td class="py-3 px-4 text-gray-700">API工具</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务接入</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务的潜在接入者，TextIn'大模型加速器2.0'包括大量可通过API调用的文档/图像处理工具，包括通用识别、票据识别、文档转换等功能</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">福昕软件</td>
+              <td class="py-3 px-4 text-gray-700">PDF技术</td>
+              <td class="py-3 px-4 text-gray-700">大模型agent</td>
+              <td class="py-3 px-4 text-gray-700">技术整合</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务接入</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务的潜在接入者，PDF作为通用技术，大幅受益于大模型agent构建</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">卓易信息</td>
+              <td class="py-3 px-4 text-gray-700">SnapDevelop</td>
+              <td class="py-3 px-4 text-gray-700">低代码IDE</td>
+              <td class="py-3 px-4 text-gray-700">企业系统对接</td>
+              <td class="py-3 px-4 text-gray-700">云平台</td>
+              <td class="py-3 px-4 text-gray-700">卓易云平台基于MCP标准打造的低代码IDE SnapDevelop，已实现与30+企业系统的无缝对接</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">利欧股份</td>
+              <td class="py-3 px-4 text-gray-700">MCP服务</td>
+              <td class="py-3 px-4 text-gray-700">广告行业</td>
+              <td class="py-3 px-4 text-gray-700">API工具</td>
+              <td class="py-3 px-4 text-gray-700">-</td>
+              <td class="py-3 px-4 text-gray-700">2025年4月18日盘中官微，利欧数字发布广告行业首个MCP服务，正式宣布旗下开放API服务工具支持MCP协议</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">南兴股份</td>
+              <td class="py-3 px-4 text-gray-700">智能体技术</td>
+              <td class="py-3 px-4 text-gray-700">云计算</td>
+              <td class="py-3 px-4 text-gray-700">API应用</td>
+              <td class="py-3 px-4 text-gray-700">-</td>
+              <td class="py-3 px-4 text-gray-700">公司作为阿里云核心合作伙伴，其智能体技术与API应用能力有望深度融入MCP生态，抢占先机</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">金桥信息</td>
+              <td class="py-3 px-4 text-gray-700">AI教学分析、AI教学助手等</td>
+              <td class="py-3 px-4 text-gray-700">教育科技</td>
+              <td class="py-3 px-4 text-gray-700">数字化转型</td>
+              <td class="py-3 px-4 text-gray-700">教学场景</td>
+              <td class="py-3 px-4 text-gray-700">公司教育客户涵盖商学学院、高校、职业院校、党校、部队院校及企业内培中心等。在AI教学分析、AI教学助手、声音大脑、机器视觉、智能控制等领域，进一步推进教学场景和教学空间的数字化转型。或可应用MCP赋能</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">税友科技</td>
+              <td class="py-3 px-4 text-gray-700">财税大模型</td>
+              <td class="py-3 px-4 text-gray-700">财税科技</td>
+              <td class="py-3 px-4 text-gray-700">知识理解、方案生成等</td>
+              <td class="py-3 px-4 text-gray-700">Agent/Copilot</td>
+              <td class="py-3 px-4 text-gray-700">目前打造的财税大模型，深度整合MCP打造财税知识理解、方案生成、业务规划、决策建议和辅助执行等Agent/Copilot应用层</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-medium text-gray-800">卓易信息</td>
+              <td class="py-3 px-4 text-gray-700">EazyDevelop</td>
+              <td class="py-3 px-4 text-gray-700">编程工具</td>
+              <td class="py-3 px-4 text-gray-700">代码类MCP工具</td>
+              <td class="py-3 px-4 text-gray-700">开发支持</td>
+              <td class="py-3 px-4 text-gray-700">EazyDevelop产品完全支持MCP调用，其中重点支持代码类的MCP工具，比如读写文件、命令行</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+
+  <script>
+    // 初始化Mermaid图表
+    mermaid.initialize({ startOnLoad: true });
+    
+    // 添加页面加载动画
+    document.addEventListener('DOMContentLoaded', function() {
+      const cards = document.querySelectorAll('.card');
+      cards.forEach((card, index) => {
+        setTimeout(() => {
+          card.style.opacity = '0';
+          card.style.transform = 'translateY(20px)';
+          card.style.transition = 'opacity 0.5s ease, transform 0.5s ease';
+          
+          setTimeout(() => {
+            card.style.opacity = '1';
+            card.style.transform = 'translateY(0)';
+          }, 100);
+        }, index * 100);
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/META智能眼镜.html

@@ -0,0 +1,831 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+    <meta charset="UTF-8">
+    <meta name="viewport" content="width=device-width, initial-scale=1.0">
+    <title>META智能眼镜概念分析</title>
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/css/bootstrap.min.css" rel="stylesheet">
+    <link href="https://cdn.jsdelivr.net/npm/bootstrap-icons@1.10.0/font/bootstrap-icons.css" rel="stylesheet">
+    <style>
+        :root {
+            --meta-blue: #1877F2;
+            --meta-dark: #1C2B33;
+        }
+        
+        body {
+            font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;
+            color: #333;
+            background-color: #f8f9fa;
+        }
+        
+        .hero-section {
+            background: linear-gradient(135deg, var(--meta-blue) 0%, var(--meta-dark) 100%);
+            color: white;
+            padding: 4rem 0;
+            margin-bottom: 3rem;
+        }
+        
+        .section-title {
+            position: relative;
+            padding-bottom: 1rem;
+            margin-bottom: 2rem;
+            border-bottom: 2px solid var(--meta-blue);
+        }
+        
+        .section-title::after {
+            content: '';
+            position: absolute;
+            bottom: -2px;
+            left: 0;
+            width: 60px;
+            height: 2px;
+            background-color: var(--meta-dark);
+        }
+        
+        .timeline {
+            position: relative;
+            padding-left: 30px;
+        }
+        
+        .timeline::before {
+            content: '';
+            position: absolute;
+            left: 0;
+            top: 0;
+            height: 100%;
+            width: 2px;
+            background: var(--meta-blue);
+        }
+        
+        .timeline-item {
+            position: relative;
+            margin-bottom: 2rem;
+        }
+        
+        .timeline-item::before {
+            content: '';
+            position: absolute;
+            left: -34px;
+            top: 5px;
+            width: 10px;
+            height: 10px;
+            border-radius: 50%;
+            background: var(--meta-blue);
+            border: 2px solid white;
+        }
+        
+        .timeline-date {
+            font-weight: bold;
+            color: var(--meta-blue);
+            margin-bottom: 0.5rem;
+        }
+        
+        .card {
+            border: none;
+            box-shadow: 0 2px 10px rgba(0,0,0,0.08);
+            transition: transform 0.3s ease;
+            height: 100%;
+        }
+        
+        .card:hover {
+            transform: translateY(-5px);
+        }
+        
+        .card-header {
+            background-color: var(--meta-blue);
+            color: white;
+            font-weight: bold;
+        }
+        
+        .stock-table {
+            font-size: 0.9rem;
+        }
+        
+        .stock-table thead th {
+            background-color: var(--meta-dark);
+            color: white;
+            position: sticky;
+            top: 0;
+            z-index: 10;
+        }
+        
+        .stock-table tbody tr:hover {
+            background-color: rgba(24, 119, 242, 0.1);
+        }
+        
+        .badge-industry {
+            background-color: var(--meta-blue);
+            color: white;
+            padding: 0.4rem 0.8rem;
+            border-radius: 20px;
+            font-size: 0.8rem;
+        }
+        
+        .key-point {
+            background-color: rgba(24, 119, 242, 0.1);
+            border-left: 4px solid var(--meta-blue);
+            padding: 1rem;
+            margin: 1rem 0;
+        }
+        
+        .catalyst-card {
+            border-left: 4px solid var(--meta-blue);
+        }
+        
+        .risk-level-high {
+            color: #dc3545;
+        }
+        
+        .risk-level-medium {
+            color: #fd7e14;
+        }
+        
+        .risk-level-low {
+            color: #198754;
+        }
+        
+        @media (max-width: 768px) {
+            .hero-section {
+                padding: 2rem 0;
+            }
+            
+            .stock-table {
+                font-size: 0.8rem;
+            }
+            
+            .table-responsive {
+                border: none;
+            }
+        }
+    </style>
+</head>
+<body>
+    <!-- 导航栏 -->
+    <nav class="navbar navbar-expand-lg navbar-dark bg-dark sticky-top">
+        <div class="container">
+            <a class="navbar-brand" href="#">
+                <i class="bi bi-eye-glasses"></i> META智能眼镜概念
+            </a>
+            <button class="navbar-toggler" type="button" data-bs-toggle="collapse" data-bs-target="#navbarNav">
+                <span class="navbar-toggler-icon"></span>
+            </button>
+            <div class="collapse navbar-collapse" id="navbarNav">
+                <ul class="navbar-nav ms-auto">
+                    <li class="nav-item"><a class="nav-link" href="#timeline">时间轴</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#summary">核心观点</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#logic">核心逻辑</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#catalyst">催化剂</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#industry">产业链</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#risks">风险挑战</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#conclusion">投资启示</a></li>
+                    <li class="nav-item"><a class="nav-link" href="#stocks">股票数据</a></li>
+                </ul>
+            </div>
+        </div>
+    </nav>
+
+    <!-- Hero Section -->
+    <section class="hero-section">
+        <div class="container text-center">
+            <h1 class="display-4 fw-bold mb-4">META智能眼镜概念分析</h1>
+            <p class="lead">从早期探索向商业化加速过渡的关键阶段</p>
+            <div class="row mt-5">
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <h3 class="mb-1">150万+</h3>
+                        <p>2024年全球出货量</p>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <h3 class="mb-1">240万台</h3>
+                        <p>第二代产品预计生命周期出货量</p>
+                    </div>
+                </div>
+                <div class="col-md-4">
+                    <div class="stat-card">
+                        <h3 class="mb-1">1000万台</h3>
+                        <p>2026年预计全球销量</p>
+                    </div>
+                </div>
+            </div>
+        </div>
+    </section>
+
+    <div class="container">
+        <!-- 概念事件时间轴 -->
+        <section id="timeline" class="mb-5">
+            <h2 class="section-title">概念事件时间轴</h2>
+            <div class="timeline">
+                <div class="timeline-item">
+                    <div class="timeline-date">2019年</div>
+                    <div class="timeline-content">
+                        <p>Meta启动第一代Ray-Ban智能眼镜设计</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2021年</div>
+                    <div class="timeline-content">
+                        <p>第一代Ray-Ban智能眼镜上市，出货量约<strong>35.5万台</strong>，远低于预期</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2023年9月</div>
+                    <div class="timeline-content">
+                        <p>第二代Ray-Ban智能眼镜上市，第四季度出货约40万台</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2023年</div>
+                    <div class="timeline-content">
+                        <p>Meta收购EssilorLuxottica少数股权，加码智能眼镜领域</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2024年4月</div>
+                    <div class="timeline-content">
+                        <p>雷朋Meta智能眼镜接入Meta的AI大模型，提升交互体验</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2024年12月</div>
+                    <div class="timeline-content">
+                        <p>Meta为雷朋智能眼镜增加AI视频、实时翻译功能</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2024年</div>
+                    <div class="timeline-content">
+                        <p>雷朋Meta产品全球出货量超过<strong>150万副</strong></p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年2月</div>
+                    <div class="timeline-content">
+                        <p>Meta公布Aria Gen 2 AR智能眼镜，面向研究实验室，预计2026年初测试</p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年6月</div>
+                    <div class="timeline-content">
+                        <p>Meta与EssilorLuxottica推出Oakley智能眼镜，面向运动员，起售价<strong>399美元</strong></p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年7月</div>
+                    <div class="timeline-content">
+                        <p>EssilorLuxottica宣布与Meta合作推出的Ray-Ban Meta智能眼镜销售收入同比增长<strong>两倍多</strong></p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年8月</div>
+                    <div class="timeline-content">
+                        <p>Meta计划推出带显示屏的新型智能眼镜，定价约<strong>800美元</strong></p>
+                    </div>
+                </div>
+                <div class="timeline-item">
+                    <div class="timeline-date">2025年9月（预计）</div>
+                    <div class="timeline-content">
+                        <p>Meta将发布亚太版产品、第一代AR加AI眼镜及第三代AI眼镜</p>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 核心观点摘要 -->
+        <section id="summary" class="mb-5">
+            <h2 class="section-title">核心观点摘要</h2>
+            <div class="key-point">
+                <p class="mb-0">META智能眼镜概念正处于从早期探索向商业化加速过渡的关键阶段，其核心驱动力在于AI技术与传统眼镜形态的完美结合，以及"科技+时尚"的品牌战略。随着产品迭代加速、用户体验提升和应用场景拓展，智能眼镜有望在未来3-5年内成为继智能手机后的新一代个人计算平台，相关产业链公司将迎来显著增长机遇。</p>
+            </div>
+        </section>
+
+        <!-- 核心逻辑与市场认知 -->
+        <section id="logic" class="mb-5">
+            <h2 class="section-title">核心逻辑与市场认知</h2>
+            <div class="row">
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-lightning-charge-fill"></i> 核心驱动力
+                        </div>
+                        <div class="card-body">
+                            <h5>技术突破与融合</h5>
+                            <ul>
+                                <li><strong>AI技术成熟</strong>：大模型集成实现实时视频分析、翻译等功能</li>
+                                <li><strong>硬件技术进步</strong>：1200万像素摄像头、32GB存储空间、音频系统升级</li>
+                                <li><strong>轻量化设计</strong>：重量控制在50克左右，接近传统眼镜佩戴体验</li>
+                            </ul>
+                            
+                            <h5>商业模式验证</h5>
+                            <ul>
+                                <li><strong>产品市场契合已实现</strong>：第二代产品预计生命周期出货240万台</li>
+                                <li><strong>销售快速增长</strong>：销售收入同比增长两倍多</li>
+                                <li><strong>价格策略合理</strong>：相比传统眼镜仅需额外支付约100美元</li>
+                            </ul>
+                            
+                            <h5>战略定位清晰</h5>
+                            <ul>
+                                <li><strong>"科技+审美"组合</strong>：Meta负责科技，Ray-Ban负责审美</li>
+                                <li><strong>差异化竞争</strong>：将智能眼镜视为下一代计算平台入口</li>
+                                <li><strong>品牌合作扩展</strong>：从Ray-Ban扩展到Oakley，计划推出Prada品牌</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-graph-up"></i> 市场热度与预期差
+                        </div>
+                        <div class="card-body">
+                            <h5>市场关注度提升</h5>
+                            <ul>
+                                <li>新闻报道频率增加，特别是产品发布、销售数据和功能更新</li>
+                                <li>多家机构发布智能眼镜行业研究报告</li>
+                                <li>路演活动频繁，分析师和专家深入解读</li>
+                            </ul>
+                            
+                            <h5>市场情绪偏向乐观</h5>
+                            <ul>
+                                <li>第二代产品销量远超第一代，增强市场信心</li>
+                                <li>技术路线得到验证，带摄像头的AI眼镜产品形态已实现PMF</li>
+                                <li>2026年全球销量预计达到千万台级别</li>
+                            </ul>
+                            
+                            <h5>预期差分析</h5>
+                            <ul>
+                                <li><strong>销量预期差</strong>：第一代35.5万台（低于预期），第二代240万台（超出预期）</li>
+                                <li><strong>技术路线预期差</strong>：市场最初关注AR显示，实际AI眼镜更易被接受</li>
+                                <li><strong>长期发展路径</strong>：AI眼镜与AR眼镜是两条不同发展时间线</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 关键催化剂 -->
+        <section id="catalyst" class="mb-5">
+            <h2 class="section-title">关键催化剂与未来发展路径</h2>
+            <div class="row">
+                <div class="col-md-6 mb-4">
+                    <h4>近期催化剂（未来3-6个月）</h4>
+                    <div class="card catalyst-card mb-3">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-box"></i> 新产品发布</h5>
+                            <ul>
+                                <li>第三代Ray-Ban智能眼镜（预计2025年10月上市）</li>
+                                <li>带显示屏的新型智能眼镜（定价约800美元）</li>
+                                <li>亚太版产品（适配亚洲用户脸型）</li>
+                            </ul>
+                        </div>
+                    </div>
+                    <div class="card catalyst-card mb-3">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-cpu"></i> 功能升级</h5>
+                            <ul>
+                                <li>AI交互视频模型投入使用（2025年9月）</li>
+                                <li>多品牌合作扩展（Prada品牌AI智能眼镜）</li>
+                            </ul>
+                        </div>
+                    </div>
+                    <div class="card catalyst-card">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-graph-up-arrow"></i> 销售数据更新</h5>
+                            <ul>
+                                <li>第二代产品最终销量数据</li>
+                                <li>第三代产品初期销售数据</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6 mb-4">
+                    <h4>长期发展路径</h4>
+                    <div class="card mb-3">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-calendar-range"></i> 产品迭代路线图</h5>
+                            <ul>
+                                <li><strong>短期（1-2年）</strong>：以AI眼镜为主，持续优化功能</li>
+                                <li><strong>中期（2-5年）</strong>：逐步引入AR显示功能</li>
+                                <li><strong>长期（5年以上）</strong>：实现轻量化、全天候佩戴的AR眼镜</li>
+                            </ul>
+                        </div>
+                    </div>
+                    <div class="card mb-3">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-people"></i> 市场渗透路径</h5>
+                            <ul>
+                                <li>细分市场先行（运动爱好者、内容创作者等）</li>
+                                <li>价格带下沉，扩大用户基础</li>
+                                <li>从欧美市场向亚太等新兴市场扩展</li>
+                            </ul>
+                        </div>
+                    </div>
+                    <div class="card">
+                        <div class="card-body">
+                            <h5 class="card-title"><i class="bi bi-flag"></i> 关键里程碑</h5>
+                            <ul>
+                                <li>2025年：AI眼镜销量预计翻番至500万台</li>
+                                <li>2026年：全球智能眼镜销量预计达千万台级别</li>
+                                <li>2027年：Orion AR消费版发布</li>
+                                <li>2030年：有望实现Ray-Ban级别轻量的全功能AR产品</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 产业链分析 -->
+        <section id="industry" class="mb-5">
+            <h2 class="section-title">产业链与核心公司深度剖析</h2>
+            <div class="row">
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-cpu"></i> 上游（核心零部件）
+                        </div>
+                        <div class="card-body">
+                            <h5>芯片</h5>
+                            <p>高通（AR1芯片）、佰维存储（ROM+RAM存储器）</p>
+                            
+                            <h5>光学组件</h5>
+                            <p>水晶光电（反射式光波导镜片）、理湃光晶（光波导模组）</p>
+                            
+                            <h5>显示模组</h5>
+                            <p>伟时电子（背光显示模组）、隆利科技（VR眼镜背光显示）</p>
+                            
+                            <h5>声学组件</h5>
+                            <p>国光电器（降噪麦克风阵列与空间音频解决方案）</p>
+                            
+                            <h5>电池</h5>
+                            <p>德赛电池（智能眼镜锂电池）</p>
+                            
+                            <h5>其他电子元器件</h5>
+                            <p>商络电子（传感器、电感、滤波器等）</p>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-gear"></i> 中游（设备制造）
+                        </div>
+                        <div class="card-body">
+                            <h5>核心代工</h5>
+                            <p>歌尔股份（Meta智能眼镜的核心代工商）</p>
+                            
+                            <h5>结构件</h5>
+                            <p>长盈精密（结构件产品）、星星科技（超薄光波导片）</p>
+                            
+                            <h5>组装设备</h5>
+                            <p>荣旗科技（智能组装设备）、卓兆点胶（点胶设备）</p>
+                            
+                            <h5>电路板</h5>
+                            <p>世运电路（AI眼镜电路板）</p>
+                            
+                            <div class="key-point mt-3">
+                                <h6>核心玩家对比</h6>
+                                <ul class="mb-0">
+                                    <li><strong>歌尔股份</strong>：核心代工商，深度合作</li>
+                                    <li><strong>水晶光电</strong>：光波导镜片供应商，良率85%</li>
+                                    <li><strong>高通</strong>：AR1芯片供应商，BOM中最贵部分</li>
+                                </ul>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-shop"></i> 下游（品牌与渠道）
+                        </div>
+                        <div class="card-body">
+                            <h5>品牌方</h5>
+                            <p>Meta、EssilorLuxottica（Ray-Ban、Oakley等品牌）</p>
+                            
+                            <h5>渠道商</h5>
+                            <p>路易·威登全球眼镜门店网络、META体验店</p>
+                            
+                            <div class="key-point mt-3">
+                                <h6>验证与证伪</h6>
+                                <ul class="mb-0">
+                                    <li>销量预测：2026年全球预计1000万台</li>
+                                    <li>技术路线：AI眼镜比AR眼镜更易被市场接受</li>
+                                    <li>产业链：多家公司已进入Meta供应链</li>
+                                </ul>
+                            </div>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 风险与挑战 -->
+        <section id="risks" class="mb-5">
+            <h2 class="section-title">潜在风险与挑战</h2>
+            <div class="row">
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-exclamation-triangle-fill risk-level-high"></i> 技术风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li><strong>AR显示技术瓶颈</strong>：难以控制在50克以下</li>
+                                <li><strong>光波导技术成本高</strong>：良率有待提升</li>
+                                <li><strong>显示技术绿光问题</strong>：影响用户体验</li>
+                                <li><strong>续航与散热挑战</strong>：重度使用需配备两副设备</li>
+                                <li><strong>AI模型优化挑战</strong>：需针对眼镜形态调整</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-currency-exchange risk-level-medium"></i> 商业化风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li><strong>成本与价格挑战</strong>：物料成本约160美元，占售价近50%</li>
+                                <li><strong>市场接受度不确定性</strong>：AI功能非主要购买动机</li>
+                                <li><strong>隐私担忧</strong>：拍摄功能可能引发隐私问题</li>
+                                <li><strong>应用场景有限</strong>：缺乏"杀手级应用"</li>
+                                <li><strong>亚洲人脸型适配问题</strong>：影响佩戴舒适度</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-4 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-shield-exclamation risk-level-low"></i> 政策与竞争风险
+                        </div>
+                        <div class="card-body">
+                            <ul>
+                                <li><strong>数据安全与隐私政策</strong>：面临严格监管</li>
+                                <li><strong>行业竞争加剧</strong>：苹果、三星、小米等巨头布局</li>
+                                <li><strong>技术标准不统一</strong>：生态碎片化</li>
+                                <li><strong>信息交叉验证风险</strong>：销量预测、技术路线存在分歧</li>
+                                <li><strong>地域政策差异</strong>：如Meta AI功能在中国无法使用</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 综合结论与投资启示 -->
+        <section id="conclusion" class="mb-5">
+            <h2 class="section-title">综合结论与投资启示</h2>
+            <div class="key-point mb-4">
+                <h4>综合结论</h4>
+                <p>META智能眼镜概念正处于从早期探索向商业化加速过渡的关键阶段，已经超越了纯粹的主题炒作，开始进入基本面驱动阶段。产品市场契合已验证，技术路线逐步清晰，产业链布局日趋完善，商业化路径明确。然而，智能眼镜要成为下一代计算平台仍面临诸多挑战，包括技术瓶颈、成本控制、应用场景拓展等，需要长期投入和持续创新。</p>
+            </div>
+            
+            <div class="row">
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-trending-up"></i> 投资价值方向
+                        </div>
+                        <div class="card-body">
+                            <h5>核心芯片供应商</h5>
+                            <ul>
+                                <li>高通（AR1芯片，BOM中最贵部分）</li>
+                                <li>佰维存储（2025年上半年开始供货）</li>
+                            </ul>
+                            
+                            <h5>光学组件供应商</h5>
+                            <ul>
+                                <li>水晶光电（反射式光波导镜片，良率85%）</li>
+                                <li>比依股份（持有理湃光晶5.37%权益）</li>
+                            </ul>
+                            
+                            <h5>核心代工商</h5>
+                            <ul>
+                                <li>歌尔股份（核心代工商，深度合作）</li>
+                            </ul>
+                            
+                            <h5>声学组件供应商</h5>
+                            <ul>
+                                <li>国光电器（降噪麦克风阵列与空间音频）</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+                <div class="col-md-6 mb-4">
+                    <div class="card h-100">
+                        <div class="card-header">
+                            <i class="bi bi-bar-chart-line"></i> 关键跟踪指标
+                        </div>
+                        <div class="card-body">
+                            <h5>产品出货量</h5>
+                            <ul>
+                                <li>第二代产品实际出货量（目标240万台）</li>
+                                <li>第三代产品初期销售数据</li>
+                                <li>带显示屏智能眼镜市场接受度</li>
+                            </ul>
+                            
+                            <h5>技术进展</h5>
+                            <ul>
+                                <li>AR显示技术轻量化进展（50克以下）</li>
+                                <li>续航能力提升情况</li>
+                                <li>AI功能增强情况</li>
+                            </ul>
+                            
+                            <h5>产业链动态</h5>
+                            <ul>
+                                <li>核心供应商订单情况</li>
+                                <li>新供应商进入情况</li>
+                                <li>国内厂商布局进展</li>
+                            </ul>
+                        </div>
+                    </div>
+                </div>
+            </div>
+        </section>
+
+        <!-- 股票数据表格 -->
+        <section id="stocks" class="mb-5">
+            <h2 class="section-title">相关股票数据</h2>
+            <div class="table-responsive">
+                <table class="table table-hover stock-table">
+                    <thead>
+                        <tr>
+                            <th>股票代码</th>
+                            <th>公司名称</th>
+                            <th>行业</th>
+                            <th>项目</th>
+                            <th>产业链位置</th>
+                            <th>关联原因</th>
+                        </tr>
+                    </thead>
+                    <tbody>
+                        <tr>
+                            <td>比依股份</td>
+                            <td>比依股份</td>
+                            <td><span class="badge badge-industry">AR眼镜光波导模组生产</span></td>
+                            <td>与理湃光晶战略合作</td>
+                            <td>供应商</td>
+                            <td>持有理湃光晶技术权益比例5.37%，后者为国内AR眼镜光波导模组生产规模最大供应商</td>
+                        </tr>
+                        <tr>
+                            <td>伟时电子</td>
+                            <td>伟时电子</td>
+                            <td><span class="badge badge-industry">背光显示模组</span></td>
+                            <td>Meta相关产品</td>
+                            <td>间接供应商</td>
+                            <td>为Meta提供相关产品的背光显示模组</td>
+                        </tr>
+                        <tr>
+                            <td>隆利科技</td>
+                            <td>隆利科技</td>
+                            <td><span class="badge badge-industry">VR眼镜背光显示</span></td>
+                            <td>Meta VR眼镜</td>
+                            <td>终端客户</td>
+                            <td>背光显示产品已应用于Meta的VR眼镜</td>
+                        </tr>
+                        <tr>
+                            <td>硕贝德</td>
+                            <td>硕贝德</td>
+                            <td><span class="badge badge-industry">智能穿戴产品</span></td>
+                            <td>北美客户智能穿戴产品</td>
+                            <td>META市场</td>
+                            <td>为北美客户提供智能穿戴产品天线及部分零部件，市场预测为META</td>
+                        </tr>
+                        <tr>
+                            <td>佰维存储</td>
+                            <td>佰维存储</td>
+                            <td><span class="badge badge-industry">AI眼镜存储芯片</span></td>
+                            <td>Meta AI眼镜</td>
+                            <td>存储器芯片供应商</td>
+                            <td>2025年上半年为Meta AI眼镜提供ROM+RAM存储器芯片</td>
+                        </tr>
+                        <tr>
+                            <td>德赛电池</td>
+                            <td>德赛电池</td>
+                            <td><span class="badge badge-industry">智能穿戴设备电池</span></td>
+                            <td>智能眼镜锂电池</td>
+                            <td>AR/VR/MR</td>
+                            <td>开展智能眼镜锂电池业务，产品应用于AR、VR、MR等智能穿戴设备</td>
+                        </tr>
+                        <tr>
+                            <td>商络电子</td>
+                            <td>商络电子</td>
+                            <td><span class="badge badge-industry">电子元器件</span></td>
+                            <td>Meta VR/AR眼镜</td>
+                            <td>供应商</td>
+                            <td>直接或间接供货Meta的VR及AR眼镜，供应传感器、电感、滤波器等</td>
+                        </tr>
+                        <tr>
+                            <td>星星科技</td>
+                            <td>星星科技</td>
+                            <td><span class="badge badge-industry">AR眼镜结构件</span></td>
+                            <td>Meta高端AR眼镜</td>
+                            <td>超薄光波导</td>
+                            <td>超薄光波导片与轻量化结构件适配Meta高端AR眼镜需求</td>
+                        </tr>
+                        <tr>
+                            <td>水晶光电</td>
+                            <td>水晶光电</td>
+                            <td><span class="badge badge-industry">光波导镜片</span></td>
+                            <td>Meta Ray-Ban系列</td>
+                            <td>消费级AR眼镜</td>
+                            <td>为Meta Ray-Ban系列供应反射式光波导镜片，良率85%</td>
+                        </tr>
+                        <tr>
+                            <td>国光电器</td>
+                            <td>国光电器</td>
+                            <td><span class="badge badge-industry">声学模组</span></td>
+                            <td>Meta智能眼镜</td>
+                            <td>100种语言交互</td>
+                            <td>提供降噪麦克风阵列与空间音频解决方案，支持100种语言交互</td>
+                        </tr>
+                        <tr>
+                            <td>世运电路</td>
+                            <td>世运电路</td>
+                            <td><span class="badge badge-industry">AI眼镜电路板</span></td>
+                            <td>Meta AI眼镜</td>
+                            <td>PCB量产</td>
+                            <td>为Meta AI眼镜供应电路板（PCB）已进入量产阶段</td>
+                        </tr>
+                        <tr>
+                            <td>长盈精密</td>
+                            <td>长盈精密</td>
+                            <td><span class="badge badge-industry">结构件</span></td>
+                            <td>Meta AI眼镜</td>
+                            <td>头部品牌客户</td>
+                            <td>向Meta AI眼镜提供结构件产品，并为其他头部品牌开发相关产品</td>
+                        </tr>
+                        <tr>
+                            <td>荣旗科技</td>
+                            <td>荣旗科技</td>
+                            <td><span class="badge badge-industry">智能组装设备</span></td>
+                            <td>META智能眼镜</td>
+                            <td>主要供应商</td>
+                            <td>META智能眼镜的智能组装设备主要供应商</td>
+                        </tr>
+                        <tr>
+                            <td>歌尔股份</td>
+                            <td>歌尔股份</td>
+                            <td><span class="badge badge-industry">核心代工</span></td>
+                            <td>Meta智能眼镜</td>
+                            <td>核心代工商</td>
+                            <td>Meta智能眼镜的核心代工商</td>
+                        </tr>
+                        <tr>
+                            <td>卓兆点胶</td>
+                            <td>卓兆点胶</td>
+                            <td><span class="badge badge-industry">点胶设备</span></td>
+                            <td>Meta AI眼镜</td>
+                            <td>点胶阀与点胶设备</td>
+                            <td>已为Meta AI眼镜供应点胶阀与点胶设备</td>
+                        </tr>
+                    </tbody>
+                </table>
+            </div>
+        </section>
+    </div>
+
+    <!-- 页脚 -->
+    <footer class="bg-dark text-white py-4 mt-5">
+        <div class="container">
+            <div class="row">
+                <div class="col-md-6">
+                    <p class="mb-0">© 2025 META智能眼镜概念分析 | 数据仅供参考，不构成投资建议</p>
+                </div>
+                <div class="col-md-6 text-md-end">
+                    <p class="mb-0">最后更新：2025年8月</p>
+                </div>
+            </div>
+        </div>
+    </footer>
+
+    <script src="https://cdn.jsdelivr.net/npm/bootstrap@5.3.0/dist/js/bootstrap.bundle.min.js"></script>
+    <script>
+        // 平滑滚动
+        document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+            anchor.addEventListener('click', function (e) {
+                e.preventDefault();
+                document.querySelector(this.getAttribute('href')).scrollIntoView({
+                    behavior: 'smooth'
+                });
+            });
+        });
+
+        // 滚动时添加导航栏阴影
+        window.addEventListener('scroll', function() {
+            const navbar = document.querySelector('.navbar');
+            if (window.scrollY > 50) {
+                navbar.classList.add('shadow');
+            } else {
+                navbar.classList.remove('shadow');
+            }
+        });
+    </script>
+</body>
+</html>

public/htmls/MIM概念.html

@@ -0,0 +1,748 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>MIM概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5/themes.css" rel="stylesheet" type="text/css" />
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/three.js/r134/three.min.js"></script>
+  <script src="https://cdnjs.cloudflare.com/ajax/libs/vanta/0.5.24/vanta.waves.min.js"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #f5f7fa 0%, #c3cfe2 100%);
+      min-height: 100vh;
+      position: relative;
+    }
+    
+    #particles-js {
+      position: absolute;
+      width: 100%;
+      height: 100%;
+      top: 0;
+      left: 0;
+      z-index: -1;
+    }
+    
+    .card-gradient {
+      background: linear-gradient(135deg, #ffffff 0%, #f8fafc 100%);
+      border: 1px solid rgba(255, 255, 255, 0.18);
+      backdrop-filter: blur(10px);
+    }
+    
+    .timeline-dot {
+      position: relative;
+    }
+    
+    .timeline-dot::before {
+      content: '';
+      position: absolute;
+      width: 12px;
+      height: 12px;
+      border-radius: 50%;
+      background-color: #3b82f6;
+      left: -20px;
+      top: 6px;
+    }
+    
+    .timeline-line {
+      position: relative;
+      padding-left: 30px;
+    }
+    
+    .timeline-line::before {
+      content: '';
+      position: absolute;
+      width: 2px;
+      height: 100%;
+      background-color: #e5e7eb;
+      left: 8px;
+      top: 0;
+    }
+    
+    .highlight-text {
+      background: linear-gradient(120deg, #3b82f6 0%, #60a5fa 100%);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      font-weight: 700;
+    }
+    
+    .table-container {
+      overflow-x: auto;
+    }
+    
+    @media (max-width: 768px) {
+      .card {
+        margin-bottom: 1rem;
+      }
+      
+      .table-container {
+        font-size: 0.875rem;
+      }
+    }
+    
+    .industry-tag {
+      display: inline-block;
+      padding: 0.25rem 0.75rem;
+      border-radius: 9999px;
+      font-size: 0.75rem;
+      font-weight: 500;
+    }
+    
+    .industry-tag-blue {
+      background-color: rgba(59, 130, 246, 0.1);
+      color: #3b82f6;
+    }
+    
+    .industry-tag-green {
+      background-color: rgba(16, 185, 129, 0.1);
+      color: #10b981;
+    }
+    
+    .industry-tag-purple {
+      background-color: rgba(139, 92, 246, 0.1);
+      color: #8b5cf6;
+    }
+    
+    .industry-tag-yellow {
+      background-color: rgba(245, 158, 11, 0.1);
+      color: #f59e0b;
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js"></div>
+  
+  <div class="container mx-auto px-4 py-8 relative z-10">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold text-gray-800 mb-4">MIM概念分析报告</h1>
+      <p class="text-xl text-gray-600 max-w-3xl mx-auto">金属注射成型技术 - 从消费电子到机器人产业链的深度解析</p>
+      <div class="mt-6 flex justify-center">
+        <div class="industry-tag industry-tag-blue mr-2">消费电子</div>
+        <div class="industry-tag industry-tag-green mr-2">机器人</div>
+        <div class="industry-tag industry-tag-purple mr-2">精密制造</div>
+        <div class="industry-tag industry-tag-yellow">新材料</div>
+      </div>
+    </div>
+    
+    <!-- 概念事件背景 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-blue-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-microscope text-blue-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">概念事件背景</h2>
+      </div>
+      <p class="text-gray-700 mb-6">
+        MIM（金属注射成型）是一种将金属粉末与粘结剂混合后注射成型，再经脱脂、烧结制成精密金属零件的"近净成形"技术。其优势在于<span class="highlight-text">高精度（±0.3%）、高材料利用率（100%）、低成本（复杂结构成本低于CNC）</span>，尤其适合消费电子、机器人、汽车等领域的轻量化、复杂结构件制造。
+      </p>
+      
+      <h3 class="text-xl font-semibold text-gray-800 mb-4">催化事件时间轴</h3>
+      <div class="timeline-line pl-8">
+        <div class="mb-4 timeline-dot">
+          <div class="font-semibold text-gray-800">2023年</div>
+          <p class="text-gray-600">华为Mate X3/X5折叠屏铰链采用MIM工艺，东睦股份成为核心供应商。</p>
+        </div>
+        <div class="mb-4 timeline-dot">
+          <div class="font-semibold text-gray-800">2024年7月</div>
+          <p class="text-gray-600">荣耀Magic V2、小米MIX Fold 5等折叠屏新机密集发布，MIM铰链需求爆发。</p>
+        </div>
+        <div class="mb-4 timeline-dot">
+          <div class="font-semibold text-gray-800">2024年8月</div>
+          <p class="text-gray-600">东睦股份中报显示MIM业务收入<span class="highlight-text">7.67亿元（+101% YoY）</span>，毛利率<span class="highlight-text">21.77%（+10.66pct）</span>，验证商业化落地。</p>
+        </div>
+        <div class="timeline-dot">
+          <div class="font-semibold text-gray-800">2025年7月</div>
+          <p class="text-gray-600">特斯拉机器人GEN3确认采用MIM工艺制造齿轮、减速器，单机价值量<span class="highlight-text">5000元</span>（100万台对应<span class="highlight-text">50亿元市场</span>）。</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-green-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-lightbulb text-green-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">核心观点摘要</h2>
+      </div>
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="text-green-600 font-semibold mb-2">阶段判断</div>
+          <p class="text-gray-700">MIM概念已从<span class="font-semibold">消费电子（折叠屏）主题炒作</span>进入<span class="font-semibold">机器人产业链基本面驱动阶段</span>，技术成熟度和订单落地速度超预期。</p>
+        </div>
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="text-green-600 font-semibold mb-2">核心驱动力</div>
+          <p class="text-gray-700"><span class="font-semibold">机器人轻量化需求</span>（替代CNC/PEEK）+<span class="font-semibold">折叠屏渗透率提升</span>（2024年全球出货量<span class="highlight-text">2000万部</span>，铰链ASP <span class="highlight-text">200-500元</span>）。</p>
+        </div>
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="text-green-600 font-semibold mb-2">未来潜力</div>
+          <p class="text-gray-700">远期机器人+消费电子双轮驱动，<span class="highlight-text">2030年全球MIM市场规模或达220亿元</span>（2025-2030年CAGR <span class="highlight-text">12%</span>）。</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-purple-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-chart-line text-purple-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">核心逻辑与市场认知分析</h2>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">核心驱动力</h3>
+          <ul class="space-y-3">
+            <li class="flex items-start">
+              <div class="bg-purple-100 p-1 rounded-full mr-3 mt-1">
+                <i class="fas fa-check text-purple-600 text-xs"></i>
+              </div>
+              <div>
+                <div class="font-semibold text-gray-800">技术突破</div>
+                <p class="text-gray-600 text-sm">MIM工艺在钛合金、不锈钢等材料的烧结良率提升至<span class="highlight-text">98%</span>（东睦股份数据），解决传统粉末冶金强度不足问题。</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <div class="bg-purple-100 p-1 rounded-full mr-3 mt-1">
+                <i class="fas fa-check text-purple-600 text-xs"></i>
+              </div>
+              <div>
+                <div class="font-semibold text-gray-800">成本拐点</div>
+                <p class="text-gray-600 text-sm">复杂结构件批量生产时，MIM成本较CNC降低<span class="highlight-text">50%以上</span>（浙商证券测算），机器人关节齿轮单件成本从<span class="highlight-text">200元（CNC）降至60元（MIM）</span>。</p>
+              </div>
+            </li>
+            <li class="flex items-start">
+              <div class="bg-purple-100 p-1 rounded-full mr-3 mt-1">
+                <i class="fas fa-check text-purple-600 text-xs"></i>
+              </div>
+              <div>
+                <div class="font-semibold text-gray-800">场景扩张</div>
+                <p class="text-gray-600 text-sm">从折叠屏铰链（单机价值量<span class="highlight-text">500元</span>）延伸至机器人灵巧手（单机<span class="highlight-text">3000元</span>）、汽车轻量化部件（电池托盘等）。</p>
+              </div>
+            </li>
+          </ul>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">市场热度与预期差</h3>
+          <div class="bg-white p-4 rounded-lg border border-gray-200 mb-4">
+            <div class="font-semibold text-gray-800 mb-2">市场热度</div>
+            <div class="grid grid-cols-2 gap-4">
+              <div class="text-center">
+                <div class="text-2xl font-bold text-purple-600">15篇</div>
+                <div class="text-sm text-gray-600">2024年7-8月券商报告</div>
+                <div class="text-xs text-gray-500">较2023年同期增长300%</div>
+              </div>
+              <div class="text-center">
+                <div class="text-2xl font-bold text-purple-600">28次</div>
+                <div class="text-sm text-gray-600">东睦股份近3个月机构调研</div>
+                <div class="text-xs text-gray-500">2023年全年仅12次</div>
+              </div>
+            </div>
+          </div>
+          
+          <div class="bg-yellow-50 p-4 rounded-lg border border-yellow-200">
+            <div class="font-semibold text-gray-800 mb-2">预期差分析</div>
+            <div class="text-sm">
+              <div class="mb-2"><span class="font-semibold">市场共识：</span>MIM仅适用于消费电子小件（如铰链）。</div>
+              <div><span class="font-semibold">预期差：</span>机器人大关节（如行星减速器齿轮）已送样特斯拉、宇树科技，<span class="highlight-text">单机价值量被低估</span>（路演显示可达<span class="highlight-text">5000元/台</span>，远超市场预期的<span class="highlight-text">1000元</span>）。</div>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-yellow-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-rocket text-yellow-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">关键催化剂与未来发展路径</h2>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-2 gap-6">
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">近期催化剂（3-6个月）</h3>
+          <div class="space-y-3">
+            <div class="bg-white p-4 rounded-lg border border-gray-200">
+              <div class="flex items-center">
+                <div class="bg-yellow-100 p-2 rounded-lg mr-3">
+                  <i class="fas fa-robot text-yellow-600"></i>
+                </div>
+                <div>
+                  <div class="font-semibold text-gray-800">特斯拉机器人定型</div>
+                  <p class="text-sm text-gray-600">2025年Q3 GEN3机型发布，MIM齿轮/丝杠订单落地（东睦股份、海昌新材已送样）。</p>
+                </div>
+              </div>
+            </div>
+            
+            <div class="bg-white p-4 rounded-lg border border-gray-200">
+              <div class="flex items-center">
+                <div class="bg-yellow-100 p-2 rounded-lg mr-3">
+                  <i class="fas fa-mobile-alt text-yellow-600"></i>
+                </div>
+                <div>
+                  <div class="font-semibold text-gray-800">华为三折屏量产</div>
+                  <p class="text-sm text-gray-600">2025年9月Mate X6发布，铰链MIM件需求<span class="highlight-text">翻倍</span>（单机铰链数量从1个增至3个）。</p>
+                </div>
+              </div>
+            </div>
+            
+            <div class="bg-white p-4 rounded-lg border border-gray-200">
+              <div class="flex items-center">
+                <div class="bg-yellow-100 p-2 rounded-lg mr-3">
+                  <i class="fab fa-apple text-yellow-600"></i>
+                </div>
+                <div>
+                  <div class="font-semibold text-gray-800">苹果折叠屏入局</div>
+                  <p class="text-sm text-gray-600">2026年iPhone Fold或采用MIM钛合金中框，潜在订单规模<span class="highlight-text">千万级</span>。</p>
+                </div>
+              </div>
+            </div>
+          </div>
+        </div>
+        
+        <div>
+          <h3 class="text-xl font-semibold text-gray-800 mb-3">长期发展路径</h3>
+          <div class="bg-gradient-to-r from-blue-50 to-purple-50 p-4 rounded-lg border border-gray-200">
+            <div class="mb-4">
+              <div class="font-semibold text-gray-800 mb-2">2025-2026年</div>
+              <p class="text-gray-600">消费电子（折叠屏+钛合金中框）驱动，市场规模<span class="highlight-text">150亿元</span>。</p>
+            </div>
+            
+            <div>
+              <div class="font-semibold text-gray-800 mb-2">2027-2030年</div>
+              <p class="text-gray-600">机器人+汽车轻量化接力，MIM在机器人渗透率<span class="highlight-text">30%</span>（对应<span class="highlight-text">100万台×5000元×30%=15亿元</span>）。</p>
+            </div>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-indigo-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-sitemap text-indigo-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">产业链与核心公司深度剖析</h2>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold text-gray-800 mb-3">产业链图谱</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-white p-4 rounded-lg border border-gray-200 text-center">
+            <div class="bg-indigo-100 p-3 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-cubes text-indigo-600 text-xl"></i>
+            </div>
+            <div class="font-semibold text-gray-800 mb-2">上游</div>
+            <p class="text-sm text-gray-600">金属粉末（有研粉材、悦安新材）、粘结剂（国产化率80%）</p>
+          </div>
+          
+          <div class="bg-white p-4 rounded-lg border border-gray-200 text-center">
+            <div class="bg-indigo-100 p-3 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-industry text-indigo-600 text-xl"></i>
+            </div>
+            <div class="font-semibold text-gray-800 mb-2">中游</div>
+            <p class="text-sm text-gray-600">MIM制造（东睦股份、精研科技、统联精密）</p>
+          </div>
+          
+          <div class="bg-white p-4 rounded-lg border border-gray-200 text-center">
+            <div class="bg-indigo-100 p-3 rounded-full w-16 h-16 flex items-center justify-center mx-auto mb-3">
+              <i class="fas fa-shopping-cart text-indigo-600 text-xl"></i>
+            </div>
+            <div class="font-semibold text-gray-800 mb-2">下游</div>
+            <p class="text-sm text-gray-600">折叠屏（华为、荣耀）、机器人（特斯拉、智元）、汽车（比亚迪）</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-3">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="min-w-full bg-white rounded-lg overflow-hidden">
+            <thead class="bg-gray-50">
+              <tr>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">公司</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">业务进展</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">竞争优势</th>
+                <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">风险点</th>
+              </tr>
+            </thead>
+            <tbody class="divide-y divide-gray-200">
+              <tr>
+                <td class="py-3 px-4 font-semibold text-gray-800">东睦股份</td>
+                <td class="py-3 px-4 text-sm text-gray-600">
+                  - 华为折叠屏铰链<span class="highlight-text">主供</span>（份额50%+）<br>
+                  - 机器人齿轮已送样特斯拉、宇树
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-600">技术平台化（MIM+SMC+P&S）、客户绑定深</td>
+                <td class="py-3 px-4 text-sm text-gray-600">产能利用率仅<span class="highlight-text">50%</span>，折旧压力大</td>
+              </tr>
+              <tr class="bg-gray-50">
+                <td class="py-3 px-4 font-semibold text-gray-800">精研科技</td>
+                <td class="py-3 px-4 text-sm text-gray-600">
+                  - 三星折叠屏铰链<span class="highlight-text">独供</span><br>
+                  - 钛合金MIM工艺领先
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-600">全球MIM龙头，技术壁垒高</td>
+                <td class="py-3 px-4 text-sm text-gray-600">客户集中度高（三星占比60%）</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-semibold text-gray-800">海昌新材</td>
+                <td class="py-3 px-4 text-sm text-gray-600">
+                  - 电动工具齿轮转机器人关节<br>
+                  - 2025年机器人收入占比或达<span class="highlight-text">30%</span>
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-600">成本低（粉末冶金背景）、送样进度快</td>
+                <td class="py-3 px-4 text-sm text-gray-600">规模小，抗风险能力弱</td>
+              </tr>
+              <tr class="bg-gray-50">
+                <td class="py-3 px-4 font-semibold text-gray-800">统联精密</td>
+                <td class="py-3 px-4 text-sm text-gray-600">
+                  - 苹果/荣耀供应链<br>
+                  - 长沙MIM基地2024年投产
+                </td>
+                <td class="py-3 px-4 text-sm text-gray-600">绑定苹果，产能扩张激进</td>
+                <td class="py-3 px-4 text-sm text-gray-600">新产能爬坡不及预期</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+        
+        <div class="mt-4 bg-blue-50 p-4 rounded-lg border border-blue-200">
+          <div class="font-semibold text-gray-800 mb-2">验证与证伪</div>
+          <ul class="text-sm text-gray-600 space-y-1">
+            <li>• <span class="font-semibold">东睦股份</span>：中报MIM收入<span class="highlight-text">7.67亿元</span>（+101%）验证折叠屏逻辑，但机器人订单尚未体现在财报。</li>
+            <li>• <span class="font-semibold">精研科技</span>：三星折叠屏铰链ASP <span class="highlight-text">300元</span>（路演数据），高于市场预期的200元，存在<span class="highlight-text">预期上修空间</span>。</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 潜在风险与挑战 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-red-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-exclamation-triangle text-red-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">潜在风险与挑战</h2>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-red-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-flask text-red-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">技术风险</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="font-semibold">钛合金烧结开裂</span>：薄壁件（如手机中框）烧结收缩率<span class="highlight-text">15-20%</span>，良率仅<span class="highlight-text">60%</span>（中邮证券专家数据）。
+          </p>
+        </div>
+        
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-red-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-chart-bar text-red-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">商业化风险</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="font-semibold">机器人需求不及预期</span>：若2025年人形机器人出货量低于<span class="highlight-text">50万台</span>，MIM市场空间将缩水<span class="highlight-text">50%</span>。
+          </p>
+        </div>
+        
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-red-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-balance-scale text-red-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">政策与竞争风险</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="font-semibold">3D打印替代</span>：铂力特等厂商推动钛合金3D打印降本，可能分流MIM订单（当前3D打印成本为MIM的<span class="highlight-text">3倍</span>，但技术迭代快）。
+          </p>
+        </div>
+      </div>
+      
+      <div class="mt-6 bg-yellow-50 p-4 rounded-lg border border-yellow-200">
+        <div class="font-semibold text-gray-800 mb-2">信息矛盾点</div>
+        <p class="text-sm text-gray-600">
+          <span class="font-semibold">东睦股份产能</span>：路演称"产能利用率50%"，但2024年中报显示MIM业务毛利率<span class="highlight-text">21.77%</span>（已盈利），<span class="font-semibold">矛盾原因</span>：折叠屏订单集中释放，机器人产能尚未投产。
+        </p>
+      </div>
+    </div>
+    
+    <!-- 综合结论与投资启示 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-green-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-trophy text-green-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">综合结论与投资启示</h2>
+      </div>
+      
+      <div class="bg-gradient-to-r from-green-50 to-blue-50 p-4 rounded-lg border border-gray-200 mb-6">
+        <p class="text-gray-700">
+          MIM概念处于<span class="highlight-text">"消费电子验证→机器人放量"</span>过渡期，<span class="highlight-text">2025年Q3机器人订单落地</span>将是分水岭。当前估值未充分反映机器人弹性（东睦股份传统业务20倍PE，机器人业务隐含仅10倍PE）。
+        </p>
+      </div>
+      
+      <div class="grid grid-cols-1 md:grid-cols-3 gap-4 mb-6">
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-green-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-star text-green-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">最纯标的</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="highlight-text">海昌新材</span>（机器人收入占比弹性最大，市值小）
+          </p>
+        </div>
+        
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-green-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-crown text-green-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">龙头配置</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="highlight-text">东睦股份</span>（技术+客户双壁垒，机器人订单催化强）
+          </p>
+        </div>
+        
+        <div class="bg-white p-4 rounded-lg border border-gray-200">
+          <div class="flex items-center mb-3">
+            <div class="bg-green-100 p-2 rounded-lg mr-3">
+              <i class="fas fa-lightbulb text-green-600"></i>
+            </div>
+            <div class="font-semibold text-gray-800">预期差标的</div>
+          </div>
+          <p class="text-sm text-gray-600">
+            <span class="highlight-text">精研科技</span>（三星折叠屏ASP超预期，钛合金工艺领先）
+          </p>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold text-gray-800 mb-3">跟踪指标</h3>
+        <div class="grid grid-cols-1 md:grid-cols-3 gap-4">
+          <div class="bg-white p-4 rounded-lg border border-gray-200">
+            <div class="flex items-center mb-2">
+              <div class="bg-blue-100 p-1 rounded-full mr-2">
+                <i class="fas fa-robot text-blue-600 text-xs"></i>
+              </div>
+              <div class="font-semibold text-gray-800">特斯拉机器人BOM清单</div>
+            </div>
+            <p class="text-sm text-gray-600">确认MIM齿轮用量</p>
+          </div>
+          
+          <div class="bg-white p-4 rounded-lg border border-gray-200">
+            <div class="flex items-center mb-2">
+              <div class="bg-blue-100 p-1 rounded-full mr-2">
+                <i class="fas fa-file-alt text-blue-600 text-xs"></i>
+              </div>
+              <div class="font-semibold text-gray-800">东睦股份Q3机器人订单公告</div>
+            </div>
+            <p class="text-sm text-gray-600">验证单机价值量5000元</p>
+          </div>
+          
+          <div class="bg-white p-4 rounded-lg border border-gray-200">
+            <div class="flex items-center mb-2">
+              <div class="bg-blue-100 p-1 rounded-full mr-2">
+                <i class="fas fa-mobile-alt text-blue-600 text-xs"></i>
+              </div>
+              <div class="font-semibold text-gray-800">华为三折屏销量</div>
+            </div>
+            <p class="text-sm text-gray-600">2025年目标100万部，铰链需求3倍于横折机型</p>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关联股票数据表格 -->
+    <div class="card card-gradient rounded-xl shadow-lg p-6 mb-8">
+      <div class="flex items-center mb-4">
+        <div class="bg-indigo-100 p-3 rounded-lg mr-4">
+          <i class="fas fa-table text-indigo-600 text-xl"></i>
+        </div>
+        <h2 class="text-2xl font-bold text-gray-800">MIM概念关联股票</h2>
+      </div>
+      
+      <div class="table-container">
+        <table class="min-w-full bg-white rounded-lg overflow-hidden">
+          <thead class="bg-gray-50">
+            <tr>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">股票名称</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">行业</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">项目</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">产业链</th>
+              <th class="py-3 px-4 text-left text-xs font-medium text-gray-500 uppercase tracking-wider">关联原因</th>
+            </tr>
+          </thead>
+          <tbody class="divide-y divide-gray-200">
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">有研粉材</td>
+              <td class="py-3 px-4 text-sm text-gray-600">粉末冶金</td>
+              <td class="py-3 px-4 text-sm text-gray-600">3D打印粉末、MIM粉末研发</td>
+              <td class="py-3 px-4 text-sm text-gray-600">原材料供应</td>
+              <td class="py-3 px-4 text-sm text-gray-600">公司产品领域涉及3D打印粉末、软磁粉末、MIM粉末、高温焊粉及高熵合金粉末等。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">悦安新材</td>
+              <td class="py-3 px-4 text-sm text-gray-600">金属精密件制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM工艺应用</td>
+              <td class="py-3 px-4 text-sm text-gray-600">下游应用</td>
+              <td class="py-3 px-4 text-sm text-gray-600">部分客户使用公司的粉末材料通过MIM工艺制备金属精密件，应用于H终端的部分产品上。</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">新莱福</td>
+              <td class="py-3 px-4 text-sm text-gray-600">高尔夫器材、工业零部件</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM中试生产线</td>
+              <td class="py-3 px-4 text-sm text-gray-600">生产制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">开发了高尔夫球头等产品，并建成MIM新产品中试生产线，相关产品进行了试销，市场反馈良好。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">华升股份</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">参股英捷高科</td>
+              <td class="py-3 px-4 text-sm text-gray-600">投资合作</td>
+              <td class="py-3 px-4 text-sm text-gray-600">参股公司英捷高科是MIM（金属粉末注射）领域最早的生产和研发企业之一。</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">海昌新材</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">研发投入</td>
+              <td class="py-3 px-4 text-sm text-gray-600">研发环节</td>
+              <td class="py-3 px-4 text-sm text-gray-600">公司在MIM产品的研发投入持续加大，目前市场反响良好。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">精研科技</td>
+              <td class="py-3 px-4 text-sm text-gray-600">消费电子、汽车零部件</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM零件生产</td>
+              <td class="py-3 px-4 text-sm text-gray-600">下游应用</td>
+              <td class="py-3 px-4 text-sm text-gray-600">公司MIM零件及组件产品主要应用于消费电子、汽车领域。</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">东睦股份</td>
+              <td class="py-3 px-4 text-sm text-gray-600">折叠屏手机配件</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM铰链生产</td>
+              <td class="py-3 px-4 text-sm text-gray-600">核心部件供应</td>
+              <td class="py-3 px-4 text-sm text-gray-600">折叠机目前为MIM技术的主要应用场景之一，公司为折叠机MIM铰链的主要生产厂家之一。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">信维通信</td>
+              <td class="py-3 px-4 text-sm text-gray-600">通信设备</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM产品供应</td>
+              <td class="py-3 px-4 text-sm text-gray-600">客户合作</td>
+              <td class="py-3 px-4 text-sm text-gray-600">为国内外大客户提供MIM产品，但具体客户产品价格和供应链情况不便回复。</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">统联精密</td>
+              <td class="py-3 px-4 text-sm text-gray-600">精密制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">生产基地建设</td>
+              <td class="py-3 px-4 text-sm text-gray-600">产能扩展</td>
+              <td class="py-3 px-4 text-sm text-gray-600">湖南长沙的MIM精密零部件生产基地项目建筑工程于2023年12月完成竣工验收，已有小部分试产线。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">大富科技</td>
+              <td class="py-3 px-4 text-sm text-gray-600">手机配件</td>
+              <td class="py-3 px-4 text-sm text-gray-600">转轴部件供应</td>
+              <td class="py-3 px-4 text-sm text-gray-600">核心供应商</td>
+              <td class="py-3 px-4 text-sm text-gray-600">子公司大富方圆深耕金属材料的研发和工艺，是华为折叠屏手机转轴核心部件的主要供应商。</td>
+            </tr>
+            <tr>
+              <td class="py-3 px-4 font-semibold text-gray-800">科森科技</td>
+              <td class="py-3 px-4 text-sm text-gray-600">金属注射成型</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM工厂建设</td>
+              <td class="py-3 px-4 text-sm text-gray-600">生产制造</td>
+              <td class="py-3 px-4 text-sm text-gray-600">MIM（粉末金属注射成型）的应用场景丰富，公司自建MIM工厂。</td>
+            </tr>
+            <tr class="bg-gray-50">
+              <td class="py-3 px-4 font-semibold text-gray-800">荣旗科技</td>
+              <td class="py-3 px-4 text-sm text-gray-600">检测设备</td>
+              <td class="py-3 px-4 text-sm text-gray-600">视觉检测装备开发</td>
+              <td class="py-3 px-4 text-sm text-gray-600">设备供应</td>
+              <td class="py-3 px-4 text-sm text-gray-600">推出适用于MIM（金属注射成型）件的视觉检测装备，拓展了金属结构件检测新领域。</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+  
+  <script>
+    // 初始化粒子背景
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 30,
+          density: {
+            enable: true,
+            value_area: 800
+          }
+        },
+        color: {
+          value: "#3b82f6"
+        },
+        shape: {
+          type: "circle"
+        },
+        opacity: {
+          value: 0.1,
+          random: true
+        },
+        size: {
+          value: 3,
+          random: true
+        },
+        move: {
+          enable: true,
+          speed: 1,
+          direction: "none",
+          random: true,
+          straight: false,
+          out_mode: "out"
+        }
+      },
+      interactivity: {
+        detect_on: "canvas",
+        events: {
+          onhover: {
+            enable: true,
+            mode: "repulse"
+          }
+        }
+      },
+      retina_detect: true
+    });
+    
+    // 添加平滑滚动效果
+    document.querySelectorAll('a[href^="#"]').forEach(anchor => {
+      anchor.addEventListener('click', function (e) {
+        e.preventDefault();
+        document.querySelector(this.getAttribute('href')).scrollIntoView({
+          behavior: 'smooth'
+        });
+      });
+    });
+  </script>
+</body>
+</html>
+```

public/htmls/MOE模型.html

@@ -0,0 +1,626 @@
+
+<!DOCTYPE html>
+<html lang="zh-CN">
+<head>
+  <meta charset="utf-8" />
+  <meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
+  <title>MOE模型概念分析报告</title>
+  <link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800" rel="stylesheet" />
+  <!-- Font Awesome Icons -->
+  <script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
+  <!-- Tailwind CSS -->
+  <link href="https://cdn.jsdelivr.net/npm/tailwindcss@2.2.19/dist/tailwind.min.css" rel="stylesheet">
+  <link href="https://cdn.jsdelivr.net/npm/daisyui@5" rel="stylesheet" type="text/css" />
+  <script src="https://cdn.jsdelivr.net/npm/@tailwindcss/browser@4"></script>
+  <style>
+    @import url('https://fonts.googleapis.com/css2?family=Noto+Sans+SC:wght@300;400;500;700&display=swap');
+    
+    body {
+      font-family: 'Noto Sans SC', 'Inter', sans-serif;
+      background: linear-gradient(135deg, #0f172a 0%, #1e293b 100%);
+      color: #e2e8f0;
+      overflow-x: hidden;
+    }
+    
+    .gradient-text {
+      background: linear-gradient(90deg, #3b82f6, #8b5cf6);
+      -webkit-background-clip: text;
+      -webkit-text-fill-color: transparent;
+      background-clip: text;
+    }
+    
+    .card-bg {
+      background: rgba(30, 41, 59, 0.7);
+      backdrop-filter: blur(10px);
+      border: 1px solid rgba(100, 116, 139, 0.3);
+    }
+    
+    .timeline-dot {
+      width: 12px;
+      height: 12px;
+      background: #3b82f6;
+      border-radius: 50%;
+      position: absolute;
+      left: -6px;
+      top: 6px;
+    }
+    
+    .timeline-line {
+      position: absolute;
+      left: 0;
+      top: 18px;
+      bottom: -18px;
+      width: 1px;
+      background: rgba(100, 116, 139, 0.5);
+    }
+    
+    .timeline-item:last-child .timeline-line {
+      display: none;
+    }
+    
+    .table-container {
+      overflow-x: auto;
+    }
+    
+    .particle-container {
+      position: fixed;
+      top: 0;
+      left: 0;
+      width: 100%;
+      height: 100%;
+      z-index: -1;
+    }
+    
+    .highlight-box {
+      background: linear-gradient(135deg, rgba(59, 130, 246, 0.1) 0%, rgba(139, 92, 246, 0.1) 100%);
+      border-left: 4px solid #3b82f6;
+    }
+    
+    .risk-box {
+      background: linear-gradient(135deg, rgba(239, 68, 68, 0.1) 0%, rgba(245, 158, 11, 0.1) 100%);
+      border-left: 4px solid #ef4444;
+    }
+    
+    .opportunity-box {
+      background: linear-gradient(135deg, rgba(16, 185, 129, 0.1) 0%, rgba(59, 130, 246, 0.1) 100%);
+      border-left: 4px solid #10b981;
+    }
+    
+    @media (max-width: 768px) {
+      .mobile-stack {
+        flex-direction: column;
+      }
+      
+      .mobile-full {
+        width: 100%;
+      }
+    }
+  </style>
+</head>
+<body>
+  <div id="particles-js" class="particle-container"></div>
+  
+  <div class="container mx-auto px-4 py-8 max-w-6xl">
+    <!-- 标题部分 -->
+    <div class="text-center mb-12">
+      <h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">MOE模型概念分析</h1>
+      <p class="text-lg text-slate-300 max-w-3xl mx-auto">
+        混合专家模型(MoE)已从技术验证进入规模化落地阶段，成为大模型降本增效的核心路径
+      </p>
+    </div>
+    
+    <!-- 概念事件时间线 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-history mr-3 text-blue-400"></i>
+        概念事件时间线
+      </h2>
+      <div class="relative pl-8">
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="highlight-box rounded-lg p-4">
+            <div class="flex flex-wrap items-center justify-between">
+              <h3 class="text-lg font-semibold text-blue-300">2023年7月</h3>
+              <span class="text-sm bg-blue-900 text-blue-200 px-2 py-1 rounded">财通计算机路演</span>
+            </div>
+            <p class="mt-2">OpenAI被曝GPT-4采用<strong>1.8万亿参数MoE架构</strong>，首次将MoE推向主流视野</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="highlight-box rounded-lg p-4">
+            <div class="flex flex-wrap items-center justify-between">
+              <h3 class="text-lg font-semibold text-blue-300">2024年1月</h3>
+              <span class="text-sm bg-blue-900 text-blue-200 px-2 py-1 rounded">MiniMax发布</span>
+            </div>
+            <p class="mt-2">国内首个MoE大模型abab6，<strong>激活参数仅37B</strong>却对标GPT-3.5</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="highlight-box rounded-lg p-4">
+            <div class="flex flex-wrap items-center justify-between">
+              <h3 class="text-lg font-semibold text-blue-300">2024年5月</h3>
+              <span class="text-sm bg-blue-900 text-blue-200 px-2 py-1 rounded">华为发布</span>
+            </div>
+            <p class="mt-2"><strong>盘古Ultra MoE（7180亿参数）</strong>，全流程昇腾训练，打破GPU依赖</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item relative pb-8">
+          <div class="timeline-dot"></div>
+          <div class="timeline-line"></div>
+          <div class="highlight-box rounded-lg p-4">
+            <div class="flex flex-wrap items-center justify-between">
+              <h3 class="text-lg font-semibold text-blue-300">2025年2月</h3>
+              <span class="text-sm bg-blue-900 text-blue-200 px-2 py-1 rounded">字节/腾讯</span>
+            </div>
+            <p class="mt-2">字节开源COMET技术，<strong>MoE训练成本降40%</strong>；腾讯混元开源80B参数MoE模型</p>
+          </div>
+        </div>
+        
+        <div class="timeline-item relative">
+          <div class="timeline-dot"></div>
+          <div class="highlight-box rounded-lg p-4">
+            <div class="flex flex-wrap items-center justify-between">
+              <h3 class="text-lg font-semibold text-blue-300">2025年6月</h3>
+              <span class="text-sm bg-blue-900 text-blue-200 px-2 py-1 rounded">华为云升级</span>
+            </div>
+            <p class="mt-2">盘古5.5升级<strong>7180亿MoE深度思考模型</strong>，昇腾CloudMatrix超节点实现<strong>35K tokens/s推理</strong></p>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心观点摘要 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-lightbulb mr-3 text-yellow-400"></i>
+        核心观点摘要
+      </h2>
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="opportunity-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-green-300 mb-2">阶段判断</h3>
+          <p>MoE已从"技术验证"进入<strong>"规模化落地"阶段</strong>，成为大模型降本增效的核心路径</p>
+        </div>
+        <div class="opportunity-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-green-300 mb-2">核心驱动力</h3>
+          <p><strong>算力瓶颈倒逼架构创新</strong>——通过稀疏激活实现参数规模与计算成本的脱钩</p>
+        </div>
+        <div class="opportunity-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-green-300 mb-2">未来潜力</h3>
+          <p><strong>2025年将成为MoE商业化元年</strong>，国产芯片+开源生态将重塑全球AI算力格局</p>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 核心逻辑与市场认知分析 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-brain mr-3 text-purple-400"></i>
+        核心逻辑与市场认知分析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">核心驱动力</h3>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">技术突破</h4>
+            <ul class="list-disc pl-5 space-y-2">
+              <li><strong>稀疏激活效率</strong>：DeepSeek-V3通过Top-2专家路由，激活参数占比仅15.6%却达到70B稠密模型性能</li>
+              <li><strong>国产算力适配</strong>：华为昇腾通过PTX级优化，将MoE训练MFU从30%提升至41%</li>
+            </ul>
+          </div>
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">成本拐点</h4>
+            <ul class="list-disc pl-5 space-y-2">
+              <li><strong>训练成本</strong>：字节COMET技术使MoE训练效率提升1.7倍，单次训练成本降至560万美元</li>
+              <li><strong>推理成本</strong>：腾讯混元80B MoE模型激活参数13B，推理成本较稠密模型降低83%</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">市场热度与情绪</h3>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">研报密度</h4>
+            <p>2024Q2以来，<strong>12篇头部研报</strong>将MoE列为"大模型降本唯一路径"（华泰/东吴/安信）</p>
+          </div>
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">情绪分化</h4>
+            <ul class="list-disc pl-5 space-y-2">
+              <li><strong>乐观派</strong>：认为MoE将复制"光伏单晶替代多晶"路径，2025年渗透率超70%</li>
+              <li><strong>谨慎派</strong>：担忧专家负载不均导致性能波动，需验证长期稳定性</li>
+            </ul>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-blue-300">预期差分析</h3>
+        <div class="highlight-box rounded-lg p-4">
+          <h4 class="font-semibold mb-2 text-blue-200">被忽略的关键点</h4>
+          <ul class="list-disc pl-5 space-y-2">
+            <li><strong>通信开销陷阱</strong>：MoE需All-to-All通信，但华为通过EP32+TP4混合并行将通信开销压至&lt;2%</li>
+            <li><strong>国产芯片机会</strong>：市场低估昇腾910B对MoE的支持，2025年昇腾出货量预计达60万片</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 关键催化剂与未来发展路径 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-rocket mr-3 text-green-400"></i>
+        关键催化剂与未来发展路径
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-green-300">近期催化剂（3-6个月）</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-left">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="py-2 px-4 font-semibold text-green-200">时间</th>
+                <th class="py-2 px-4 font-semibold text-green-200">事件</th>
+                <th class="py-2 px-4 font-semibold text-green-200">影响逻辑</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">2025Q3</td>
+                <td class="py-3 px-4">华为昇腾910C发布</td>
+                <td class="py-3 px-4">支持FP8精度MoE训练，成本再降30%</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">2025Q3</td>
+                <td class="py-3 px-4">腾讯混元MoE开源</td>
+                <td class="py-3 px-4">推动中小厂商采用，加速生态扩散</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-blue-300">2025Q4</td>
+                <td class="py-3 px-4">字节跳动UltraMem架构落地</td>
+                <td class="py-3 px-4">推理成本降83%，冲击API定价体系</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-green-300">长期发展路径</h3>
+        <div class="grid md:grid-cols-2 gap-4">
+          <div class="opportunity-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-green-200">2025-2026</h4>
+            <p>MoE成为大模型标配（类似Transformer），国产芯片+开源框架主导中低端市场</p>
+          </div>
+          <div class="opportunity-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-green-200">2027-2028</h4>
+            <p>异构MoE（动态专家数量）+LPU专用芯片成熟，单位算力成本降至当前10%</p>
+          </div>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 产业链与核心公司深度剖析 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-network-wired mr-3 text-indigo-400"></i>
+        产业链与核心公司深度剖析
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-indigo-300">产业链图谱</h3>
+        <div class="bg-slate-800 rounded-lg p-4">
+          <div class="flex flex-col md:flex-row items-center justify-between space-y-4 md:space-y-0">
+            <div class="text-center">
+              <div class="bg-blue-900 rounded-lg px-4 py-2 mb-2">
+                <p class="font-semibold text-blue-200">上游：算力芯片</p>
+              </div>
+              <div class="space-y-2">
+                <p class="text-sm">昇腾910B</p>
+                <p class="text-sm">寒武纪MLU370</p>
+              </div>
+            </div>
+            <div class="text-2xl text-blue-400">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="bg-purple-900 rounded-lg px-4 py-2 mb-2">
+                <p class="font-semibold text-purple-200">中游：MoE框架</p>
+              </div>
+              <div class="space-y-2">
+                <p class="text-sm">华为盘古MoE</p>
+                <p class="text-sm">腾讯混元MoE</p>
+              </div>
+            </div>
+            <div class="text-2xl text-purple-400">
+              <i class="fas fa-arrow-right"></i>
+            </div>
+            <div class="text-center">
+              <div class="bg-green-900 rounded-lg px-4 py-2 mb-2">
+                <p class="font-semibold text-green-200">下游：应用场景</p>
+              </div>
+              <div class="space-y-2">
+                <p class="text-sm">政务AI</p>
+                <p class="text-sm">社交AI</p>
+              </div>
+            </div>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-indigo-300">核心玩家对比</h3>
+        <div class="overflow-x-auto">
+          <table class="w-full text-left">
+            <thead>
+              <tr class="border-b border-slate-700">
+                <th class="py-2 px-4 font-semibold text-indigo-200">公司</th>
+                <th class="py-2 px-4 font-semibold text-indigo-200">技术路线</th>
+                <th class="py-2 px-4 font-semibold text-indigo-200">进展验证</th>
+                <th class="py-2 px-4 font-semibold text-indigo-200">风险点</th>
+              </tr>
+            </thead>
+            <tbody>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">华为</td>
+                <td class="py-3 px-4">昇腾+盘古Ultra MoE</td>
+                <td class="py-3 px-4">CloudMatrix超节点35K tokens/s</td>
+                <td class="py-3 px-4">生态封闭，外部适配慢</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">腾讯</td>
+                <td class="py-3 px-4">混元80B MoE开源</td>
+                <td class="py-3 px-4">魔搭社区首发，开发者超1600万</td>
+                <td class="py-3 px-4">商业化场景待验证</td>
+              </tr>
+              <tr class="border-b border-slate-800">
+                <td class="py-3 px-4 font-medium text-blue-300">字节</td>
+                <td class="py-3 px-4">COMET优化+UltraMem</td>
+                <td class="py-3 px-4">训练成本降40%（已开源）</td>
+                <td class="py-3 px-4">与英伟达生态竞争</td>
+              </tr>
+              <tr>
+                <td class="py-3 px-4 font-medium text-blue-300">DeepSeek</td>
+                <td class="py-3 px-4">MLA+MoE</td>
+                <td class="py-3 px-4">236B模型激活21B（开源）</td>
+                <td class="py-3 px-4">依赖海外芯片</td>
+              </tr>
+            </tbody>
+          </table>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 潜在风险与挑战 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-exclamation-triangle mr-3 text-red-400"></i>
+        潜在风险与挑战
+      </h2>
+      
+      <div class="grid md:grid-cols-3 gap-4">
+        <div class="risk-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-red-300 mb-3">技术风险</h3>
+          <ul class="list-disc pl-5 space-y-2">
+            <li><strong>专家崩塌</strong>：负载不均可能导致90%token流向单一专家</li>
+            <li><strong>长文本瓶颈</strong>：当前MoE在百万级上下文下仍存O(n²)复杂度问题</li>
+          </ul>
+        </div>
+        
+        <div class="risk-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-red-300 mb-3">商业化风险</h3>
+          <ul class="list-disc pl-5 space-y-2">
+            <li><strong>API价格战</strong>：可能引发"0.1元/百万tokens"恶性竞争</li>
+            <li><strong>场景适配</strong>：政务/医疗等高合规场景对MoE的可解释性要求未满足</li>
+          </ul>
+        </div>
+        
+        <div class="risk-box rounded-lg p-4">
+          <h3 class="text-lg font-semibold text-red-300 mb-3">政策与竞争风险</h3>
+          <ul class="list-disc pl-5 space-y-2">
+            <li><strong>美国制裁</strong>：若限制EDA工具用于昇腾芯片设计，国产MoE算力链或中断</li>
+          </ul>
+        </div>
+      </div>
+    </div>
+    
+    <!-- 综合结论与投资启示 -->
+    <div class="card-bg rounded-xl p-6 mb-8 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-chart-line mr-3 text-yellow-400"></i>
+        综合结论与投资启示
+      </h2>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-yellow-300">阶段判断</h3>
+        <div class="opportunity-box rounded-lg p-4">
+          <p class="text-lg">当前处于<strong>"技术红利兑现期"</strong>，类似2020年光伏PERC电池——<strong>成本曲线陡峭下降+渗透率快速提升</strong></p>
+        </div>
+      </div>
+      
+      <div class="mb-6">
+        <h3 class="text-xl font-semibold mb-4 text-yellow-300">投资方向</h3>
+        <div class="space-y-3">
+          <div class="opportunity-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-green-200">最确定赛道</h4>
+            <p>国产算力芯片（昇腾/寒武纪）+ MoE框架服务商（华为云/腾讯云）</p>
+          </div>
+          <div class="opportunity-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-green-200">弹性标的</h4>
+            <p>交换机厂商（瑞斯康达/共进股份）——MoE推动800G光模块需求</p>
+          </div>
+          <div class="opportunity-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-green-200">预期差机会</h4>
+            <p>边缘端MoE（云天励飞1.8B模型）——未被定价的"AI PC"场景</p>
+          </div>
+        </div>
+      </div>
+      
+      <div>
+        <h3 class="text-xl font-semibold mb-4 text-yellow-300">关键跟踪指标</h3>
+        <div class="grid md:grid-cols-3 gap-4">
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">昇腾910C量产进度</h4>
+            <p>2025Q3若达30万片/季度，将确认国产替代拐点</p>
+          </div>
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">腾讯混元MoE调用量</h4>
+            <p>若月活超5000万，标志开源生态爆发</p>
+          </div>
+          <div class="highlight-box rounded-lg p-4">
+            <h4 class="font-semibold mb-2 text-blue-200">字节UltraMem API定价</h4>
+            <p>若低于0.5元/百万tokens，将触发行业洗牌</p>
+          </div>
+        </div>
+      </div>
+      
+      <div class="mt-6 p-4 rounded-lg bg-gradient-to-r from-blue-900 to-purple-900">
+        <p class="text-lg font-semibold text-center text-white">
+          MoE不是主题炒作，而是<strong>AI算力革命的"单晶时刻"</strong>。<br>
+          <strong>2025年Q3前</strong>是布局窗口期，<strong>优先配置国产算力链+MoE框架龙头</strong>。
+        </p>
+      </div>
+    </div>
+    
+    <!-- 关联股票表格 -->
+    <div class="card-bg rounded-xl p-6 shadow-xl">
+      <h2 class="text-2xl font-bold mb-6 flex items-center">
+        <i class="fas fa-table mr-3 text-cyan-400"></i>
+        关联股票
+      </h2>
+      <div class="table-container">
+        <table class="w-full text-left">
+          <thead>
+            <tr class="border-b border-slate-700">
+              <th class="py-3 px-4 font-semibold text-cyan-200">股票名称</th>
+              <th class="py-3 px-4 font-semibold text-cyan-200">项目</th>
+              <th class="py-3 px-4 font-semibold text-cyan-200">技术/产品</th>
+              <th class="py-3 px-4 font-semibold text-cyan-200">应用领域/合作方</th>
+              <th class="py-3 px-4 font-semibold text-cyan-200">投资逻辑</th>
+            </tr>
+          </thead>
+          <tbody>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-medium text-blue-300">云天励飞</td>
+              <td class="py-3 px-4">边缘端硬件在线微调学习</td>
+              <td class="py-3 px-4">MoE大模型、1.8B轻量化模型</td>
+              <td class="py-3 px-4">边缘计算</td>
+              <td class="py-3 px-4">公司通过能力蒸馏研发的1.8B模型和MoE大模型，边缘应用性能优于同参数模型，支持大模型在边缘设备落地</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-medium text-blue-300">东方通</td>
+              <td class="py-3 px-4">深度安全大模型</td>
+              <td class="py-3 px-4">MoE混合专家模型、LLM+AI Agent框架</td>
+              <td class="py-3 px-4">网络安全</td>
+              <td class="py-3 px-4">基于MoE架构的深度安全大模型，在LLM+AI Agent框架下快速部署AI安全能力</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-medium text-blue-300">汤姆猫</td>
+              <td class="py-3 px-4">AI情感陪伴机器人</td>
+              <td class="py-3 px-4">MOE混合专家架构</td>
+              <td class="py-3 px-4">西湖心辰、豆包、DeepSeek</td>
+              <td class="py-3 px-4">AI情感陪伴机器人采用MOE架构，整合西湖心辰定制模型及豆包、DeepSeek等模型能力，提升产品性能</td>
+            </tr>
+            <tr class="border-b border-slate-800 hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-medium text-blue-300">瑞斯康达</td>
+              <td class="py-3 px-4">AI大模型降本</td>
+              <td class="py-3 px-4">三层交换机、数据中心交换机、OLT</td>
+              <td class="py-3 px-4">通信设备</td>
+              <td class="py-3 px-4">MOE技术推动AI大模型降本，公司发布多款交换机产品迎接发展机遇</td>
+            </tr>
+            <tr class="hover:bg-slate-800/50">
+              <td class="py-3 px-4 font-medium text-blue-300">共进股份</td>
+              <td class="py-3 px-4">AI大模型降本</td>
+              <td class="py-3 px-4">园区交换机、SMB交换机</td>
+              <td class="py-3 px-4">企业网络</td>
+              <td class="py-3 px-4">MOE技术推动AI大模型降本，公司交换机产品覆盖园区和中小企业市场</td>
+            </tr>
+          </tbody>
+        </table>
+      </div>
+    </div>
+  </div>
+  
+  <!-- 粒子背景 -->
+  <script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
+  <script>
+    tsParticles.load("particles-js", {
+      particles: {
+        number: {
+          value: 80,
+          density: {
+            enable: true,
+            value_area: 800
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+          color: "#64748b",
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+          direction: "none",
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+```