735 lines
34 KiB
HTML
735 lines
34 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="utf-8" />
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<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
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<link rel="icon" type="image/png" href="data:image/svg+xml,<svg xmlns=%22http://www.w3.org/2000/svg%22 viewBox=%220 0 100 100%22><text y=%22.9em%22 font-size=%2290%22>🛡️</text></svg>">
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<link href="https://fonts.googleapis.com/css?family=Inter:300,400,500,600,700,800|Noto+Sans+SC:wght@300;400;500;700&display=swap" rel="stylesheet" />
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<!-- Nucleo Icons -->
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<link href="https://unpkg.com/nucleo-icons@2.0.12/css/nucleo-icons.min.css" rel="stylesheet" />
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<!-- Font Awesome Icons -->
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<script src="https://kit.fontawesome.com/1d2b6c4f81.js" crossorigin="anonymous"></script>
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<!-- Tailwind CSS -->
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<script src="https://cdn.tailwindcss.com"></script>
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<!-- DaisyUI -->
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<link href="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.css" rel="stylesheet" type="text/css" />
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<script src="https://cdn.jsdelivr.net/npm/daisyui@5/dist/full.min.js"></script>
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<!-- Chart.js -->
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<script src="https://cdn.jsdelivr.net/npm/chart.js"></script>
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<!-- Mermaid for diagrams -->
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<script src="https://cdn.jsdelivr.net/npm/mermaid@10/dist/mermaid.min.js"></script>
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<style>
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:root {
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--primary-gradient: linear-gradient(135deg, #0ea5e9 0%, #3b82f6 50%, #6366f1 100%);
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--secondary-gradient: linear-gradient(135deg, #8b5cf6 0%, #a855f7 50%, #d946ef 100%);
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--dark-gradient: linear-gradient(135deg, #1e293b 0%, #334155 100%);
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}
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body {
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font-family: 'Inter', 'Noto Sans SC', sans-serif;
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background-color: #0f172a;
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background-image:
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radial-gradient(circle at 10% 20%, rgba(59, 130, 246, 0.1) 0%, transparent 20%),
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radial-gradient(circle at 90% 60%, rgba(139, 92, 246, 0.1) 0%, transparent 20%),
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radial-gradient(circle at 50% 50%, rgba(99, 102, 241, 0.05) 0%, transparent 40%);
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}
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.glass-effect {
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background: rgba(30, 41, 59, 0.7);
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backdrop-filter: blur(10px);
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-webkit-backdrop-filter: blur(10px);
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border: 1px solid rgba(255, 255, 255, 0.1);
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}
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.gradient-text {
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background: var(--primary-gradient);
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-webkit-background-clip: text;
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background-clip: text;
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color: transparent;
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}
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.gradient-border {
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background: var(--primary-gradient);
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padding: 1px;
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}
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.card-shadow {
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box-shadow: 0 10px 30px rgba(0, 0, 0, 0.3);
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}
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.timeline-line {
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background: linear-gradient(to bottom, #3b82f6, #6366f1);
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}
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.hover-scale {
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transition: transform 0.3s ease;
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}
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.hover-scale:hover {
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transform: scale(1.02);
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}
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.table-row-hover:hover {
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background-color: rgba(59, 130, 246, 0.1);
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}
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.mermaid {
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background: rgba(30, 41, 59, 0.5);
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border-radius: 0.5rem;
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padding: 1rem;
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}
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</style>
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</head>
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<body class="min-h-screen text-gray-200">
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<div class="container mx-auto px-4 py-8 max-w-7xl">
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<!-- Header Section -->
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<header class="mb-12 text-center">
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<h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">军工信息化概念深度解析</h1>
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<p class="text-lg text-blue-300 max-w-3xl mx-auto">
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政策驱动+订单落地的双重拐点，百亿级向千亿级市场跃升
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</p>
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<div class="mt-6 flex justify-center">
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<div class="badge badge-primary badge-lg p-4">2025年最强α赛道</div>
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</div>
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</header>
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<!-- Concept Events Timeline -->
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<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
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<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
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<i class="ni ni-calendar-grid-58 mr-3"></i>概念事件时间轴
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</h2>
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<div class="relative">
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<div class="absolute left-4 top-0 bottom-0 w-1 timeline-line rounded-full"></div>
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<div class="space-y-6 ml-10">
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<div class="relative">
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<div class="absolute -left-10 top-1 w-6 h-6 rounded-full bg-blue-500 border-4 border-blue-300"></div>
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<div class="glass-effect rounded-xl p-4 hover-scale">
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<h3 class="font-bold text-lg text-blue-300">2024年4月19日</h3>
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<p class="mt-1">中国人民解放军信息支援部队正式成立，标志着"第五空间（网络空间）"成为独立战略兵种</p>
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<p class="text-sm text-gray-400 mt-1">来源：中信建投、民生计算机路演</p>
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</div>
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</div>
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<div class="relative">
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<div class="absolute -left-10 top-1 w-6 h-6 rounded-full bg-purple-500 border-4 border-purple-300"></div>
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<div class="glass-effect rounded-xl p-4 hover-scale">
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<h3 class="font-bold text-lg text-purple-300">2025年3月</h3>
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<p class="mt-1">两会期间总书记提出"如期完成十四五规划目标任务"，军工信息化作为"新质作战力量"核心</p>
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<p class="text-sm text-gray-400 mt-1">来源：华创计算机路演</p>
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</div>
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</div>
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<div class="relative">
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<div class="absolute -left-10 top-1 w-6 h-6 rounded-full bg-indigo-500 border-4 border-indigo-300"></div>
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<div class="glass-effect rounded-xl p-4 hover-scale">
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<h3 class="font-bold text-lg text-indigo-300">2025年5月</h3>
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<p class="mt-1">天风军工连续发布报告，强调"十四五"延迟订单叠加"十五五"新装备备货周期，军工电子订单环比拐点已现</p>
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<p class="text-sm text-gray-400 mt-1">来源：天风军工新闻</p>
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</div>
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</div>
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<div class="relative">
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<div class="absolute -left-10 top-1 w-6 h-6 rounded-full bg-cyan-500 border-4 border-cyan-300"></div>
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<div class="glass-effect rounded-xl p-4 hover-scale">
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<h3 class="font-bold text-lg text-cyan-300">技术里程碑</h3>
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<ul class="mt-2 list-disc pl-5 space-y-1">
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<li>2024年9月：我国完成全球首次在轨AI大模型验证（卫星智能化突破）</li>
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<li>2025年8月：G60星座首批卫星发射，规划1.4万颗低轨卫星</li>
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</ul>
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<p class="text-sm text-gray-400 mt-1">来源：中泰通信上海瀚讯报告</p>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Executive Summary -->
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<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
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<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
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<i class="ni ni-spaceship mr-3"></i>核心观点摘要
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</h2>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
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<div class="gradient-border rounded-xl">
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<div class="glass-effect rounded-xl p-5 h-full">
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<h3 class="font-bold text-lg text-blue-300 mb-3">当前阶段</h3>
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<p>从主题炒作转向基本面驱动，2025年作为"十四五"收官年，延迟订单释放+"十五五"新需求启动</p>
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<div class="mt-4 bg-blue-900/30 rounded-lg p-3 text-center">
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<span class="text-2xl font-bold text-blue-300">30%+</span>
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<p class="text-sm">行业订单环比增速</p>
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</div>
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</div>
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</div>
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<div class="gradient-border rounded-xl">
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<div class="glass-effect rounded-xl p-5 h-full">
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<h3 class="font-bold text-lg text-purple-300 mb-3">核心驱动力</h3>
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<ul class="space-y-2">
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<li class="flex items-start">
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<i class="ni ni-check-bold text-green-400 mt-1 mr-2"></i>
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<span>信息支援部队成立重构军队架构</span>
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</li>
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<li class="flex items-start">
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<i class="ni ni-check-bold text-green-400 mt-1 mr-2"></i>
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<span>AI+卫星互联网+数据链技术突破</span>
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</li>
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<li class="flex items-start">
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<i class="ni-check-bold text-green-400 mt-1 mr-2"></i>
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<span>国产化率不足40%的芯片/软件环节加速替代</span>
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</li>
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</ul>
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</div>
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</div>
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<div class="gradient-border rounded-xl">
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<div class="glass-effect rounded-xl p-5 h-full">
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<h3 class="font-bold text-lg text-indigo-300 mb-3">未来潜力</h3>
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<p>2025-2035年"智能化无人化"装备渗透率提升10倍</p>
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<div class="mt-4 bg-indigo-900/30 rounded-lg p-3 text-center">
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<span class="text-2xl font-bold text-indigo-300">百亿→千亿</span>
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<p class="text-sm">军工电子市场空间跃升</p>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Core Logic & Market Analysis -->
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<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
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<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
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<i class="ni ni-chart-bar-32 mr-3"></i>核心逻辑与市场认知分析
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</h2>
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<div class="mb-8">
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<h3 class="text-xl font-bold mb-4 text-purple-300">核心驱动力</h3>
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<div class="overflow-x-auto">
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<table class="table w-full">
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<thead>
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<tr class="border-b border-gray-700">
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<th class="text-left py-3 px-4 text-gray-400">维度</th>
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<th class="text-left py-3 px-4 text-gray-400">具体逻辑</th>
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<th class="text-left py-3 px-4 text-gray-400">数据支撑</th>
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</tr>
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</thead>
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<tbody>
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<tr class="border-b border-gray-800 table-row-hover">
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<td class="py-3 px-4 font-medium text-blue-300">政策强制</td>
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<td class="py-3 px-4">信息支援部队统筹全军信息化建设，2025年国防预算增速7.2%连续四年超GDP</td>
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<td class="py-3 px-4">2025年军费达1.6万亿，信息化装备占比提升至40%（中信建投）</td>
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</tr>
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<tr class="border-b border-gray-800 table-row-hover">
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<td class="py-3 px-4 font-medium text-purple-300">技术突破</td>
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<td class="py-3 px-4">AI重构军事体系：无人机蜂群、卫星AI大模型、数据链毫秒级延迟控制</td>
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<td class="py-3 px-4">印巴冲突中霹雳15导弹通过数据链协同击落阵风战机（路演案例）</td>
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</tr>
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<tr class="border-b border-gray-800 table-row-hover">
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<td class="py-3 px-4 font-medium text-indigo-300">国产替代</td>
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<td class="py-3 px-4">FPGA/ADC芯片国产化率<50%，政策要求2027年100%替代</td>
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<td class="py-3 px-4">紫光国微FPGA订单2025Q1环比+80%，臻镭科技ADC毛利率80%（路演数据）</td>
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</tr>
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</tbody>
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</table>
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</div>
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</div>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
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<div>
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<h3 class="text-xl font-bold mb-4 text-purple-300">市场热度与情绪</h3>
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<div class="space-y-3">
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<div class="glass-effect rounded-lg p-4">
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<div class="flex justify-between items-center">
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<span>研报密度</span>
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<span class="text-blue-300 font-bold">15篇</span>
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</div>
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<p class="text-sm text-gray-400 mt-1">2024年9月-2025年5月头部券商报告数量，创三年新高</p>
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</div>
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<div class="glass-effect rounded-lg p-4">
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<div class="flex justify-between items-center">
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<span>资金动向</span>
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<span class="text-purple-300 font-bold">+45%</span>
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</div>
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<p class="text-sm text-gray-400 mt-1">2025Q1军工主题基金增持七一二、海格通信等数据链标的，持仓市值环比增长</p>
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</div>
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<div class="glass-effect rounded-lg p-4">
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<div class="flex justify-between items-center">
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<span>情绪分歧</span>
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<span class="text-yellow-300 font-bold">修复中</span>
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</div>
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<p class="text-sm text-gray-400 mt-1">部分投资者担忧"十四五"订单延迟，但路演显示航天/电科院所任务量环比修复</p>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-bold mb-4 text-indigo-300">预期差分析</h3>
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<div class="space-y-3">
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<div class="glass-effect rounded-lg p-4">
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<p class="font-medium text-gray-300">市场共识：军工信息化=卫星互联网</p>
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<p class="text-sm text-blue-300 mt-1">被忽略：数据链才是联合作战核心，2025年军用宽带通信渗透率仅5%</p>
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</div>
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<div class="glass-effect rounded-lg p-4">
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<p class="font-medium text-gray-300">市场共识：国产替代=低端替代</p>
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<p class="text-sm text-purple-300 mt-1">被忽略：高端ADC芯片单价超万元，臻镭科技单颗芯片价值量=1000颗普通电容</p>
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</div>
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<div class="glass-effect rounded-lg p-4">
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<p class="font-medium text-gray-300">市场共识：订单延迟=需求消失</p>
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<p class="text-sm text-indigo-300 mt-1">被忽略：延迟订单将在2025H2集中释放，火炬电子Q1订单已环比+50%</p>
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</div>
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</div>
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</div>
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</div>
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</section>
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<!-- Catalysts & Future Path -->
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<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
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<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
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<i class="ni ni-rocket mr-3"></i>关键催化剂与未来发展路径
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</h2>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-8">
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<div>
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<h3 class="text-xl font-bold mb-4 text-purple-300">近期催化剂（3-6个月）</h3>
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<div class="space-y-4">
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<div class="flex items-start">
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<div class="flex-shrink-0 w-8 h-8 rounded-full bg-blue-500 flex items-center justify-center mr-3">
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<span class="text-white font-bold">1</span>
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</div>
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<div>
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<h4 class="font-bold text-blue-300">订单落地</h4>
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<p class="text-sm mt-1">2025年6-8月"十五五"装备预研招标启动，数据链、电子对抗新品类需求明确</p>
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<p class="text-xs text-gray-400 mt-1">来源：天风军工</p>
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</div>
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</div>
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<div class="flex items-start">
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<div class="flex-shrink-0 w-8 h-8 rounded-full bg-purple-500 flex items-center justify-center mr-3">
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<span class="text-white font-bold">2</span>
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</div>
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<div>
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<h4 class="font-bold text-purple-300">技术验证</h4>
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<p class="text-sm mt-1">G60星座2025年8月发射，验证手机直连卫星军事通信能力</p>
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<p class="text-xs text-gray-400 mt-1">来源：中泰通信</p>
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</div>
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</div>
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<div class="flex items-start">
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<div class="flex-shrink-0 w-8 h-8 rounded-full bg-indigo-500 flex items-center justify-center mr-3">
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<span class="text-white font-bold">3</span>
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</div>
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<div>
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<h4 class="font-bold text-indigo-300">政策催化</h4>
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<p class="text-sm mt-1">2025年10月"十五五"规划发布，军工信息化投资占比或提至军费15%</p>
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<p class="text-xs text-gray-400 mt-1">来源：中信建投预测</p>
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</div>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-bold mb-4 text-indigo-300">长期发展路径（2025-2035）</h3>
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<div class="mermaid">
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graph TD
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A[2025:订单拐点] --> B[2026-2027:技术定型]
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B --> C[2028-2030:规模化列装]
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C --> D[2031-2035:智能化升级]
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D --> E[无人作战体系成熟]
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</div>
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</div>
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</div>
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</section>
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<!-- Industry Chain & Companies -->
|
||
<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
|
||
<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
|
||
<i class="ni ni-briefcase-24 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-purple-300">产业链图谱</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<h4 class="font-bold text-lg text-blue-300 mb-3">上游</h4>
|
||
<ul class="space-y-2">
|
||
<li class="flex items-center">
|
||
<i class="ni ni-chip text-blue-400 mr-2"></i>
|
||
<span>芯片：紫光国微FPGA、臻镭科技ADC</span>
|
||
</li>
|
||
<li class="flex items-center">
|
||
<i class="ni ni-bullet-list-67 text-blue-400 mr-2"></i>
|
||
<span>元器件：火炬电子MLCC</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<h4 class="font-bold text-lg text-purple-300 mb-3">中游</h4>
|
||
<ul class="space-y-2">
|
||
<li class="flex items-center">
|
||
<i class="ni ni-signal text-purple-400 mr-2"></i>
|
||
<span>数据链：七一二、海格通信</span>
|
||
</li>
|
||
<li class="flex items-center">
|
||
<i class="ni ni-satellite text-purple-400 mr-2"></i>
|
||
<span>卫星通信：上海瀚讯</span>
|
||
</li>
|
||
<li class="flex items-center">
|
||
<i class="ni ni-shield-star text-purple-400 mr-2"></i>
|
||
<span>电子对抗：盟升电子</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<h4 class="font-bold text-lg text-indigo-300 mb-3">下游</h4>
|
||
<ul class="space-y-2">
|
||
<li class="flex items-center">
|
||
<i class="ni ni-planet text-indigo-400 mr-2"></i>
|
||
<span>主机厂：中航光电连接器配套</span>
|
||
</li>
|
||
<li class="flex items-center">
|
||
<i class="ni ni-app text-indigo-400 mr-2"></i>
|
||
<span>系统集成：航天宏图遥感</span>
|
||
</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-indigo-300">核心玩家对比</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr class="border-b border-gray-700">
|
||
<th class="text-left py-3 px-4 text-gray-400">公司</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">业务纯度</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">竞争优势</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">风险点</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-blue-300">七一二</td>
|
||
<td class="py-3 px-4">
|
||
<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="fas fa-star text-yellow-400"></i>
|
||
</div>
|
||
</td>
|
||
<td class="py-3 px-4">军用数据链市占率70%</td>
|
||
<td class="py-3 px-4">2025年股权激励摊薄业绩</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-purple-300">上海瀚讯</td>
|
||
<td class="py-3 px-4">
|
||
<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-gray-600"></i>
|
||
</div>
|
||
</td>
|
||
<td class="py-3 px-4">卫星通信载荷核心供应商</td>
|
||
<td class="py-3 px-4">G60星座发射进度不及预期</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-indigo-300">臻镭科技</td>
|
||
<td class="py-3 px-4">
|
||
<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-gray-600"></i>
|
||
</div>
|
||
</td>
|
||
<td class="py-3 px-4">ADC芯片毛利率80%，技术垄断</td>
|
||
<td class="py-3 px-4">客户集中度高（航天系占比60%）</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-cyan-300">火炬电子</td>
|
||
<td class="py-3 px-4">
|
||
<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-gray-600"></i>
|
||
<i class="far fa-star text-gray-600"></i>
|
||
</div>
|
||
</td>
|
||
<td class="py-3 px-4">军工MLCC龙头，订单环比+50%</td>
|
||
<td class="py-3 px-4">民品业务拖累毛利率</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8 grid grid-cols-1 md:grid-cols-2 gap-6">
|
||
<div class="glass-effect rounded-xl p-5 border-l-4 border-green-500">
|
||
<h4 class="font-bold text-lg text-green-300 mb-2">验证与证真</h4>
|
||
<p>2025Q1七一二预收款同比+120%，印证数据链订单爆发</p>
|
||
<p class="text-sm text-gray-400 mt-1">来源：财报数据</p>
|
||
</div>
|
||
|
||
<div class="glass-effect rounded-xl p-5 border-l-4 border-yellow-500">
|
||
<h4 class="font-bold text-lg text-yellow-300 mb-2">证伪风险</h4>
|
||
<p>紫光国微FPGA产能扩张后，价格战风险可能压缩毛利率</p>
|
||
<p class="text-sm text-gray-400 mt-1">来源：路演担忧</p>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Risks & Challenges -->
|
||
<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
|
||
<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
|
||
<i class="ni ni-alert-circle-68 mr-3"></i>潜在风险与挑战
|
||
</h2>
|
||
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr class="border-b border-gray-700">
|
||
<th class="text-left py-3 px-4 text-gray-400">风险类型</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">具体表现</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-medium text-red-300">技术瓶颈</td>
|
||
<td class="py-3 px-4">14nm以下制程芯片受美国制裁，高端ADC芯片量产或延迟至2026年（路演）</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-medium text-yellow-300">商业化</td>
|
||
<td class="py-3 px-4">卫星互联网军事应用成本过高，单颗卫星载荷成本>5000万（中泰通信）</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-medium text-orange-300">政策变动</td>
|
||
<td class="py-3 px-4">若2025年军费增速低于5%，信息化装备采购或削减（中信建投情景分析）</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-medium text-purple-300">信息矛盾</td>
|
||
<td class="py-3 px-4">天风军工称"订单拐点已现"，但2024年报军工电子板块利润下滑53%（需验证）</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Related Stocks Table -->
|
||
<section class="mb-12 glass-effect rounded-2xl p-6 card-shadow">
|
||
<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
|
||
<i class="ni ni-chart-pie-35 mr-3"></i>军工信息化关联股票
|
||
</h2>
|
||
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr class="border-b border-gray-700">
|
||
<th class="text-left py-3 px-4 text-gray-400">股票名称</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">分类</th>
|
||
<th class="text-left py-3 px-4 text-gray-400">关联理由</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-blue-300">国睿科技</td>
|
||
<td class="py-3 px-4">雷达</td>
|
||
<td class="py-3 px-4">属于军工信息化雷达领域核心企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-blue-300">四创电子</td>
|
||
<td class="py-3 px-4">雷达</td>
|
||
<td class="py-3 px-4">雷达装备研发生产重点企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-purple-300">国科天成</td>
|
||
<td class="py-3 px-4">红外-芯片</td>
|
||
<td class="py-3 px-4">具备红外探测器芯片研发能力</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-purple-300">高德红外</td>
|
||
<td class="py-3 px-4">红外-热成像</td>
|
||
<td class="py-3 px-4">国内红外热成像领域龙头企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-indigo-300">航天宏图</td>
|
||
<td class="py-3 px-4">卫星</td>
|
||
<td class="py-3 px-4">卫星遥感应用领域代表企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-indigo-300">中国卫通</td>
|
||
<td class="py-3 px-4">卫星</td>
|
||
<td class="py-3 px-4">国内卫星通信运营核心平台</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-cyan-300">烽火通信</td>
|
||
<td class="py-3 px-4">有线-传输组网</td>
|
||
<td class="py-3 px-4">光通信设备研发制造领先企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-cyan-300">上海瀚讯</td>
|
||
<td class="py-3 px-4">无线-宽带</td>
|
||
<td class="py-3 px-4">军用宽带无线通信系统供应商</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-green-300">中国长城</td>
|
||
<td class="py-3 px-4">硬件-CPU</td>
|
||
<td class="py-3 px-4">国产自主可控CPU研发主力</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-green-300">航锦科技</td>
|
||
<td class="py-3 px-4">硬件-GPU</td>
|
||
<td class="py-3 px-4">军用GPU芯片研发生产企业</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-yellow-300">盛邦安全</td>
|
||
<td class="py-3 px-4">网络安全</td>
|
||
<td class="py-3 px-4">工业控制系统安全解决方案商</td>
|
||
</tr>
|
||
<tr class="border-b border-gray-800 table-row-hover">
|
||
<td class="py-3 px-4 font-bold text-yellow-300">宏达电子</td>
|
||
<td class="py-3 px-4">电子元器件-钽电容</td>
|
||
<td class="py-3 px-4">军用钽电容器核心供应商</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- Conclusion -->
|
||
<section class="glass-effect rounded-2xl p-6 card-shadow">
|
||
<h2 class="text-2xl font-bold mb-6 text-blue-400 flex items-center">
|
||
<i class="ni ni-trophy mr-3"></i>综合结论与投资启示
|
||
</h2>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-bold mb-4 text-purple-300">阶段判断</h3>
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<p class="mb-3">军工信息化已从<strong class="text-blue-300">主题炒作</strong>（2023年）进入<strong class="text-purple-300">订单驱动</strong>阶段（2025年），类似2019年的半导体国产替代。</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-bold mb-4 text-indigo-300">最具价值环节</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
|
||
<div class="gradient-border rounded-xl">
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<h4 class="font-bold text-lg text-blue-300 mb-2">数据链（七一二）</h4>
|
||
<p>渗透率5%→50%的10倍空间，2025年订单弹性最大</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="gradient-border rounded-xl">
|
||
<div class="glass-effect rounded-xl p-5">
|
||
<h4 class="font-bold text-lg text-purple-300 mb-2">卫星通信载荷（上海瀚讯）</h4>
|
||
<p>G60星座2025年发射80颗卫星，单星价值量3000万</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-bold mb-4 text-cyan-300">关键跟踪指标</h3>
|
||
<div class="space-y-3">
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 w-8 h-8 rounded-full bg-blue-500 flex items-center justify-center mr-3">
|
||
<span class="text-white font-bold">1</span>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-blue-300">订单验证</h4>
|
||
<p>2025Q2七一二/海格通信预收款增速是否持续>50%</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 w-8 h-8 rounded-full bg-purple-500 flex items-center justify-center mr-3">
|
||
<span class="text-white font-bold">2</span>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-purple-300">技术突破</h4>
|
||
<p>臻镭科技14bit ADC芯片是否通过航天五所认证（预计2025Q3）</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 w-8 h-8 rounded-full bg-indigo-500 flex items-center justify-center mr-3">
|
||
<span class="text-white font-bold">3</span>
|
||
</div>
|
||
<div>
|
||
<h4 class="font-bold text-indigo-300">政策信号</h4>
|
||
<p>"十五五"规划是否明确军工信息化投资占比≥15%</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mt-8 glass-effect rounded-xl p-5 bg-gradient-to-r from-blue-900/30 to-purple-900/30 border border-blue-500/30">
|
||
<h3 class="text-xl font-bold mb-3 text-center gradient-text">结论</h3>
|
||
<p class="text-center text-lg">
|
||
军工信息化是2025年军工板块<strong class="text-blue-300">最强α赛道</strong>，短期看订单，长期看智能化渗透率提升，建议<strong class="text-purple-300">超配数据链+卫星通信</strong>两大细分。
|
||
</p>
|
||
</div>
|
||
</section>
|
||
</div>
|
||
|
||
<script>
|
||
// Initialize Mermaid
|
||
mermaid.initialize({
|
||
startOnLoad: true,
|
||
theme: 'dark',
|
||
themeVariables: {
|
||
primaryColor: '#3b82f6',
|
||
primaryTextColor: '#fff',
|
||
primaryBorderColor: '#1e40af',
|
||
lineColor: '#6366f1',
|
||
secondaryColor: '#8b5cf6',
|
||
tertiaryColor: '#1e293b'
|
||
}
|
||
});
|
||
|
||
// 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 = {
|
||
root: null,
|
||
rootMargin: '0px',
|
||
threshold: 0.1
|
||
};
|
||
|
||
const observer = new IntersectionObserver((entries, observer) => {
|
||
entries.forEach(entry => {
|
||
if (entry.isIntersecting) {
|
||
entry.target.style.opacity = '1';
|
||
entry.target.style.transform = 'translateY(0)';
|
||
observer.unobserve(entry.target);
|
||
}
|
||
});
|
||
}, 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>
|
||
``` |