714 lines
40 KiB
HTML
714 lines
40 KiB
HTML
|
||
<!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>美好愿景 - 概念洞察报告</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://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>
|
||
@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-dot {
|
||
position: relative;
|
||
}
|
||
.timeline-dot::before {
|
||
content: '';
|
||
position: absolute;
|
||
width: 12px;
|
||
height: 12px;
|
||
border-radius: 50%;
|
||
background-color: #667eea;
|
||
left: -20px;
|
||
top: 6px;
|
||
}
|
||
.timeline-line {
|
||
position: absolute;
|
||
width: 2px;
|
||
background-color: #e2e8f0;
|
||
left: -14px;
|
||
top: 18px;
|
||
bottom: -18px;
|
||
}
|
||
.mermaid-placeholder {
|
||
background-color: #f7fafc;
|
||
border: 1px dashed #cbd5e0;
|
||
border-radius: 8px;
|
||
padding: 20px;
|
||
text-align: center;
|
||
color: #718096;
|
||
}
|
||
#vanta-bg {
|
||
position: fixed;
|
||
top: 0;
|
||
left: 0;
|
||
width: 100%;
|
||
height: 100%;
|
||
z-index: -1;
|
||
}
|
||
.content-wrapper {
|
||
position: relative;
|
||
z-index: 10;
|
||
}
|
||
</style>
|
||
</head>
|
||
<body class="bg-gray-50">
|
||
<div id="vanta-bg"></div>
|
||
|
||
<div class="content-wrapper min-h-screen py-8 px-4 sm:px-6 lg:px-8">
|
||
<div class="max-w-6xl mx-auto">
|
||
<!-- 标题部分 -->
|
||
<div class="text-center mb-12">
|
||
<h1 class="text-4xl md:text-5xl font-bold text-white mb-4">美好愿景</h1>
|
||
<p class="text-xl text-blue-100 max-w-3xl mx-auto">长期可持续增长、普惠民生、技术向善的投资线索集合</p>
|
||
</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-600 mr-3"></i>概念事件时间轴
|
||
</h2>
|
||
<div class="space-y-4 pl-8">
|
||
<div class="relative">
|
||
<div class="timeline-line"></div>
|
||
<div class="timeline-dot">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<p class="font-semibold text-indigo-700">2024年9月4日</p>
|
||
<p class="text-gray-700">医药零售板块首次以"美好愿景"命名，龙头老百姓（603883）领衔，僚机漱玉平民、人民同泰，映射"健康中国"长期国策。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="relative">
|
||
<div class="timeline-line"></div>
|
||
<div class="timeline-dot">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<p class="font-semibold text-indigo-700">2024年10月16日</p>
|
||
<p class="text-gray-700">李强在上合组织会议提出将"五个共同家园"愿景落地为行动，强化一带一路基建与民生合作预期。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="relative">
|
||
<div class="timeline-line"></div>
|
||
<div class="timeline-dot">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<p class="font-semibold text-indigo-700">2025年1月20日</p>
|
||
<p class="text-gray-700">特朗普宣称将阐述"贸易愿景"但暂不征新关税，暗示全球贸易秩序重构的"软着陆"可能。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="relative">
|
||
<div class="timeline-line"></div>
|
||
<div class="timeline-dot">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<p class="font-semibold text-indigo-700">2025年5月26日</p>
|
||
<p class="text-gray-700">东盟通过《愿景2045》，锁定东南亚20年一体化红利。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="relative">
|
||
<div class="timeline-dot">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<p class="font-semibold text-indigo-700">2025年7月24日</p>
|
||
<p class="text-gray-700">白宫发布AI政策愿景，要求放松监管、确保美国"无可争议的技术主导地位"，标志AI从主题炒作进入国家战略兑现期。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
<div class="mt-6 p-4 bg-blue-50 rounded-lg">
|
||
<p class="text-blue-800 font-medium">时间轴显示：政策端（中美、东盟）、产业端（AI、医药、消费）同步释放"愿景"信号，形成跨市场共振。</p>
|
||
</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-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 grid-cols-1 md:grid-cols-3 gap-6">
|
||
<div class="bg-gradient-to-br from-blue-50 to-indigo-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-indigo-700 mb-3">阶段判断</h3>
|
||
<p class="text-gray-700">美好愿景概念处于"政策叙事→产业验证"过渡期，<span class="font-bold text-indigo-700">2024Q4-2025H1为关键验证窗口</span>。</p>
|
||
</div>
|
||
<div class="bg-gradient-to-br from-green-50 to-teal-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-teal-700 mb-3">核心驱动力</h3>
|
||
<p class="text-gray-700">政策托底（健康中国、AI国家战略）+ 技术商业化拐点（AI硬件、医疗CDMO）+ 消费韧性（性价比升级）。</p>
|
||
</div>
|
||
<div class="bg-gradient-to-br from-purple-50 to-pink-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-purple-700 mb-3">未来潜力</h3>
|
||
<p class="text-gray-700">具备从主题投资向盈利驱动切换的潜质，<span class="font-bold text-purple-700">需紧盯订单、渗透率、毛利率三大硬指标</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-6 flex items-center">
|
||
<i class="fas fa-chart-line text-green-600 mr-3"></i>核心逻辑与市场认知分析
|
||
</h2>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">核心驱动力</h3>
|
||
<div class="overflow-x-auto mb-8">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead class="bg-gray-50">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">维度</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">逻辑</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">数据支撑</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-indigo-600">政策</td>
|
||
<td class="py-3 px-4 border-b">健康中国2030、AI+消费、东盟一体化</td>
|
||
<td class="py-3 px-4 border-b">2025年AI政策愿景明确"放松监管+能源保障"；东盟2045愿景锁定基建/数字合作</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-indigo-600">技术</td>
|
||
<td class="py-3 px-4 border-b">医疗CDMO精密制造、AI硬件普惠化</td>
|
||
<td class="py-3 px-4 border-b">美好医疗胰岛素笔<span class="font-bold text-green-600">2025年产能满产</span>（路演纪要）；AI电视2027年市场<span class="font-bold text-green-600">500亿</span>（奥维云网）</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-indigo-600">需求</td>
|
||
<td class="py-3 px-4 border-b">老龄化+健康意识、Z世代性价比消费</td>
|
||
<td class="py-3 px-4 border-b">中国COPD诊断率仅27%（美好医疗路演），AI教育硬件用户<span class="font-bold text-green-600">90%接受度</span>（腾讯调研）</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">市场热度与情绪</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-6 mb-8">
|
||
<div class="bg-blue-50 rounded-lg p-5">
|
||
<h4 class="font-semibold text-blue-700 mb-3">研报密度</h4>
|
||
<p class="text-gray-700">2024年9月-2025年7月，美好医疗、老百姓、AI电视等标的研报<span class="font-bold text-blue-700">月均3-5篇</span>，热度持续。</p>
|
||
</div>
|
||
<div class="bg-purple-50 rounded-lg p-5">
|
||
<h4 class="font-semibold text-purple-700 mb-3">情绪分化</h4>
|
||
<div class="space-y-2">
|
||
<p class="text-gray-700"><span class="font-semibold text-green-600">乐观派：</span>看好医疗CDMO出海（美好医疗马来西亚三期2025投产）、AI硬件渗透率提升。</p>
|
||
<p class="text-gray-700"><span class="font-semibold text-orange-600">谨慎派：</span>担忧集采压价（人工耳蜗集采降价30%但量增50%，毛利率反升，路演已验证）。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">预期差分析</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead class="bg-gray-50">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">市场共识</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">被忽略的关键点</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b">"美好医疗=呼吸机代工"</td>
|
||
<td class="py-3 px-4 border-b"><span class="font-bold text-green-600">胰岛素笔+CGM第二曲线</span>已锁定诺和诺德3年长单（2025年贡献营收<span class="font-bold text-green-600">20%+</span>）</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b">"AI电视=概念炒作"</td>
|
||
<td class="py-3 px-4 border-b">2025年海信/小米AI电视出货量<span class="font-bold text-green-600">同比+200%</span>（奥维数据），验证商业化</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b">"医药零售=防御板块"</td>
|
||
<td class="py-3 px-4 border-b">老百姓加盟门店<span class="font-bold text-green-600">5046家</span>（2024Q3），下沉市场渗透率仅<span class="font-bold text-green-600">12%</span>，空间巨大</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</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-red-500 mr-3"></i>关键催化剂与未来发展路径
|
||
</h2>
|
||
|
||
<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 mb-8">
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-8 h-8 rounded-full bg-red-100 flex items-center justify-center">
|
||
<span class="text-red-600 font-bold text-sm">1</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-4">
|
||
<p class="font-semibold text-gray-800"><span class="text-red-600">2025年8月</span>：美好医疗马来西亚三期投产，胰岛素笔产能释放（<span class="font-bold text-red-600">年产能3000万支</span>）。</p>
|
||
</div>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-8 h-8 rounded-full bg-red-100 flex items-center justify-center">
|
||
<span class="text-red-600 font-bold text-sm">2</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-4">
|
||
<p class="font-semibold text-gray-800"><span class="text-red-600">2025年9月</span>：东盟峰会推进《愿景2045》基建项目清单，利好中国医疗/AI设备出口。</p>
|
||
</div>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-8 h-8 rounded-full bg-red-100 flex items-center justify-center">
|
||
<span class="text-red-600 font-bold text-sm">3</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-4">
|
||
<p class="font-semibold text-gray-800"><span class="text-red-600">2025年10月</span>：美国AI政策细则落地，数据中心能源补贴明确，刺激AI硬件需求。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">长期路径（2025-2030）</h3>
|
||
<div class="mermaid-placeholder mb-6">
|
||
<i class="fas fa-project-diagram text-4xl text-gray-400 mb-3"></i>
|
||
<p class="text-gray-600">政策愿景 → 技术验证 → 订单兑现 → 盈利驱动 → 估值重构</p>
|
||
</div>
|
||
<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-indigo-700 mb-2">2025-2026</h4>
|
||
<p class="text-sm text-gray-700">医疗CDMO（美好医疗）/AI硬件（海信）订单放量，毛利率维持<span class="font-bold text-indigo-700">40%+</span>。</p>
|
||
</div>
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-indigo-700 mb-2">2027-2028</h4>
|
||
<p class="text-sm text-gray-700">渗透率突破临界点（胰岛素笔市占率<span class="font-bold text-indigo-700">15%→30%</span>，AI电视<span class="font-bold text-indigo-700">10%→25%</span>）。</p>
|
||
</div>
|
||
<div class="bg-indigo-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-indigo-700 mb-2">2029-2030</h4>
|
||
<p class="text-sm text-gray-700">行业进入稳态竞争，龙头享受估值溢价（PE从<span class="font-bold text-indigo-700">25X→35X</span>）。</p>
|
||
</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-teal-600 mr-3"></i>产业链与核心公司深度剖析
|
||
</h2>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">产业链图谱</h3>
|
||
<div class="mermaid-placeholder mb-8">
|
||
<i class="fas fa-network-wired text-4xl text-gray-400 mb-3"></i>
|
||
<p class="text-gray-600">上游(芯片/材料) → 中游(制造/代工) → 下游(品牌/渠道)</p>
|
||
<p class="text-gray-600 mt-2">美好医疗 → 胰岛素笔代工 | 老百姓 → 医药零售 | 海信视像 → AI电视</p>
|
||
</div>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">核心玩家对比</h3>
|
||
<div class="overflow-x-auto mb-8">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead class="bg-gray-50">
|
||
<tr>
|
||
<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">业务进展</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-teal-600">美好医疗</td>
|
||
<td class="py-3 px-4 border-b">胰岛素笔2025年满产，CGM量产前夜</td>
|
||
<td class="py-3 px-4 border-b">液态硅胶技术壁垒+诺和诺德长单</td>
|
||
<td class="py-3 px-4 border-b">大客户依赖（ResMed占比<span class="font-bold text-red-600">60%</span>）</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-semibold text-teal-600">老百姓</td>
|
||
<td class="py-3 px-4 border-b">加盟门店<span class="font-bold text-green-600">5046家</span>，下沉市场加速</td>
|
||
<td class="py-3 px-4 border-b">供应链数字化+加盟轻资产</td>
|
||
<td class="py-3 px-4 border-b">医保政策变动</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-semibold text-teal-600">海信视像</td>
|
||
<td class="py-3 px-4 border-b">AI电视出货量<span class="font-bold text-green-600">2025年+200%</span></td>
|
||
<td class="py-3 px-4 border-b">芯片自研+内容生态</td>
|
||
<td class="py-3 px-4 border-b">面板价格波动</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
|
||
<h3 class="text-xl font-semibold text-gray-700 mb-4">验证与证伪</h3>
|
||
<div class="space-y-4">
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<i class="fas fa-check-circle text-green-500 text-xl"></i>
|
||
</div>
|
||
<div class="ml-4">
|
||
<p class="font-semibold text-gray-800"><span class="text-green-600">美好医疗</span>：2024Q3胰岛素笔收入<span class="font-bold text-green-600">1.2亿</span>（同比+400%），验证第二曲线逻辑。</p>
|
||
</div>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<i class="fas fa-exclamation-circle text-yellow-500 text-xl"></i>
|
||
</div>
|
||
<div class="ml-4">
|
||
<p class="font-semibold text-gray-800"><span class="text-yellow-600">老百姓</span>：2024Q3同店增速<span class="font-bold text-red-600">-2%</span>（低于预期），需跟踪加盟扩张能否抵消。</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-orange-500 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 class="bg-gray-50">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">风险类型</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">具体表现</th>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">应对策略</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-orange-600">技术风险</td>
|
||
<td class="py-3 px-4 border-b">CGM传感器良率<80%（美好医疗路演提及）</td>
|
||
<td class="py-3 px-4 border-b">跟踪2025年量产数据</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-orange-600">商业化风险</td>
|
||
<td class="py-3 px-4 border-b">AI电视均价下探至<span class="font-bold text-red-600">2000元</span>以下，压缩利润</td>
|
||
<td class="py-3 px-4 border-b">关注高端机型占比（海信ULED占比<span class="font-bold text-green-600">35%</span>）</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-orange-600">政策风险</td>
|
||
<td class="py-3 px-4 border-b">人工耳蜗集采降价超预期</td>
|
||
<td class="py-3 px-4 border-b">已验证"以价换量"逻辑（毛利率反升）</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-orange-600">信息矛盾</td>
|
||
<td class="py-3 px-4 border-b">研报称"呼吸机库存已消化"，但2024Q3美好医疗呼吸机收入仍下滑<span class="font-bold text-red-600">-18%</span></td>
|
||
<td class="py-3 px-4 border-b">需区分"客户库存"vs"公司出货节奏"</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</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-6 flex items-center">
|
||
<i class="fas fa-flag-checkered text-purple-600 mr-3"></i>综合结论与投资启示
|
||
</h2>
|
||
<div class="space-y-6">
|
||
<div class="bg-gradient-to-r from-purple-50 to-indigo-50 rounded-lg p-5">
|
||
<h3 class="text-lg font-semibold text-purple-700 mb-3">阶段判断</h3>
|
||
<p class="text-gray-700">美好愿景概念<span class="font-bold text-purple-700">已从政策叙事进入订单验证阶段</span>，2025H1为关键分水岭。</p>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-lg font-semibold text-gray-700 mb-3">高价值细分</h3>
|
||
<div class="space-y-4">
|
||
<div class="bg-green-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-green-700 mb-2">医疗CDMO出海</h4>
|
||
<p class="text-gray-700">美好医疗（胰岛素笔+CGM）具备<span class="font-bold text-green-700">"技术+客户"双壁垒</span>，2025年PE仅<span class="font-bold text-green-700">22X</span>（对比海外CDMO <span class="font-bold text-green-700">35X</span>）。</p>
|
||
</div>
|
||
<div class="bg-blue-50 rounded-lg p-4">
|
||
<h4 class="font-semibold text-blue-700 mb-2">AI硬件普惠</h4>
|
||
<p class="text-gray-700">海信视像（AI电视）受益于政策补贴+技术降本，2025年出货量有望<span class="font-bold text-blue-700">翻倍</span>。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-lg font-semibold text-gray-700 mb-3">关键跟踪指标</h3>
|
||
<div class="space-y-3">
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-6 h-6 rounded-full bg-indigo-100 flex items-center justify-center">
|
||
<span class="text-indigo-600 font-bold text-xs">1</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-3">
|
||
<p class="font-semibold text-gray-800"><span class="text-indigo-600">美好医疗</span>：2025年胰岛素笔出货量（目标<span class="font-bold text-indigo-600">3000万支</span>）、CGM量产良率（>85%）。</p>
|
||
</div>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-6 h-6 rounded-full bg-indigo-100 flex items-center justify-center">
|
||
<span class="text-indigo-600 font-bold text-xs">2</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-3">
|
||
<p class="font-semibold text-gray-800"><span class="text-indigo-600">老百姓</span>：加盟门店净增数（2025年目标<span class="font-bold text-indigo-600">800家</span>）、同店增速转正。</p>
|
||
</div>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="flex-shrink-0 mt-1">
|
||
<div class="w-6 h-6 rounded-full bg-indigo-100 flex items-center justify-center">
|
||
<span class="text-indigo-600 font-bold text-xs">3</span>
|
||
</div>
|
||
</div>
|
||
<div class="ml-3">
|
||
<p class="font-semibold text-gray-800"><span class="text-indigo-600">政策端</span>：美国AI补贴细则、东盟2045项目清单落地时间。</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="bg-gradient-to-r from-blue-600 to-purple-600 rounded-lg p-5">
|
||
<p class="text-white text-lg font-semibold">
|
||
结论：美好愿景不是虚无的口号，而是<span class="font-bold text-yellow-300">"政策托底+技术兑现+需求刚性"</span>的三重共振。当前布局需紧盯<span class="font-bold text-yellow-300">订单放量</span>与<span class="font-bold text-yellow-300">毛利率韧性</span>，规避纯主题炒作标的。
|
||
</p>
|
||
</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-6 flex items-center">
|
||
<i class="fas fa-table text-blue-600 mr-3"></i>关联股票数据
|
||
</h2>
|
||
<div class="overflow-x-auto">
|
||
<table class="min-w-full bg-white border border-gray-200 rounded-lg">
|
||
<thead class="bg-gray-50">
|
||
<tr>
|
||
<th class="py-3 px-4 text-left text-sm font-semibold text-gray-700 border-b">股票名称</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">项目</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">投资理由</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">老百姓</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">公司共计14969家门店的营销网络，其中直营门店9923家、加盟门店5046家</td>
|
||
<td class="py-3 px-4 border-b">医药零售</td>
|
||
<td class="py-3 px-4 border-b">直营与加盟门店数量庞大，覆盖广泛</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">漱玉平民</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">山东本地第一大连锁药店</td>
|
||
<td class="py-3 px-4 border-b">医药零售</td>
|
||
<td class="py-3 px-4 border-b">区域市场占有率领先</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">人民同泰</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">黑龙江省省内最大的药品配送服务网络</td>
|
||
<td class="py-3 px-4 border-b">医药流通</td>
|
||
<td class="py-3 px-4 border-b">省内药品配送网络覆盖广</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">华人健康</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">安徽省最大的药店连锁企业</td>
|
||
<td class="py-3 px-4 border-b">医药零售</td>
|
||
<td class="py-3 px-4 border-b">区域连锁药店龙头</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">民生健康</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">国内维生素领域的领军企业</td>
|
||
<td class="py-3 px-4 border-b">医药制造</td>
|
||
<td class="py-3 px-4 border-b">受益于膳食营养补充剂市场快速发展</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">合富中国</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">目前唯一一家两岸双上市的医疗企业</td>
|
||
<td class="py-3 px-4 border-b">医疗服务</td>
|
||
<td class="py-3 px-4 border-b">跨境医疗资源整合</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">健民集团</td>
|
||
<td class="py-3 px-4 border-b">医药类</td>
|
||
<td class="py-3 px-4 border-b">拥有的体外培育牛黄技术是公司的独家专利</td>
|
||
<td class="py-3 px-4 border-b">医药制造</td>
|
||
<td class="py-3 px-4 border-b">核心技术专利壁垒</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">安居宝</td>
|
||
<td class="py-3 px-4 border-b">地产链</td>
|
||
<td class="py-3 px-4 border-b">楼宇对讲系统、智能家居、AI应用、零售电商</td>
|
||
<td class="py-3 px-4 border-b">智能家居</td>
|
||
<td class="py-3 px-4 border-b">多领域技术布局</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">好太太</td>
|
||
<td class="py-3 px-4 border-b">地产链</td>
|
||
<td class="py-3 px-4 border-b">行业唯一入选"中国最有价值品牌500强"的晾衣机品牌</td>
|
||
<td class="py-3 px-4 border-b">家居用品</td>
|
||
<td class="py-3 px-4 border-b">品牌价值认可度高</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">喜临门</td>
|
||
<td class="py-3 px-4 border-b">地产链</td>
|
||
<td class="py-3 px-4 border-b">床垫，全新智慧睡眠生态品牌aise宝褓</td>
|
||
<td class="py-3 px-4 border-b">家具制造</td>
|
||
<td class="py-3 px-4 border-b">智慧睡眠产品创新</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">我爱我家</td>
|
||
<td class="py-3 px-4 border-b">地产链</td>
|
||
<td class="py-3 px-4 border-b">涵盖了房产租赁、二手房买卖、新房代理等多个领域</td>
|
||
<td class="py-3 px-4 border-b">地产服务</td>
|
||
<td class="py-3 px-4 border-b">全链条房产服务覆盖</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">华夏幸福</td>
|
||
<td class="py-3 px-4 border-b">地产链</td>
|
||
<td class="py-3 px-4 border-b">基本布局重要都市圈，拥有2000亿低息资金</td>
|
||
<td class="py-3 px-4 border-b">地产开发</td>
|
||
<td class="py-3 px-4 border-b">资金优势与区位布局</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">欢乐家</td>
|
||
<td class="py-3 px-4 border-b">食品类</td>
|
||
<td class="py-3 px-4 border-b">植物蛋白饮料，原料以进口为主，越南建厂提高供应链稳定性</td>
|
||
<td class="py-3 px-4 border-b">食品制造</td>
|
||
<td class="py-3 px-4 border-b">供应链全球化布局</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">好想你</td>
|
||
<td class="py-3 px-4 border-b">食品类</td>
|
||
<td class="py-3 px-4 border-b">从事红枣、冻干产品、坚果、果干等健康食品研产销</td>
|
||
<td class="py-3 px-4 border-b">食品加工</td>
|
||
<td class="py-3 px-4 border-b">健康食品全链条生产</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">好当家</td>
|
||
<td class="py-3 px-4 border-b">食品类</td>
|
||
<td class="py-3 px-4 border-b">中国全产业链有机海参开创者</td>
|
||
<td class="py-3 px-4 border-b">水产养殖</td>
|
||
<td class="py-3 px-4 border-b">有机海参全产业链优势</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">万事利</td>
|
||
<td class="py-3 px-4 border-b">服饰</td>
|
||
<td class="py-3 px-4 border-b">中高档次丝绸文化</td>
|
||
<td class="py-3 px-4 border-b">纺织服装</td>
|
||
<td class="py-3 px-4 border-b">丝绸文化品牌定位</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">万里马</td>
|
||
<td class="py-3 px-4 border-b">服饰</td>
|
||
<td class="py-3 px-4 border-b">专注于箱包生产</td>
|
||
<td class="py-3 px-4 border-b">皮革制品</td>
|
||
<td class="py-3 px-4 border-b">箱包制造专业化</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">报喜鸟</td>
|
||
<td class="py-3 px-4 border-b">服饰</td>
|
||
<td class="py-3 px-4 border-b">高端男装品牌集团</td>
|
||
<td class="py-3 px-4 border-b">服装制造</td>
|
||
<td class="py-3 px-4 border-b">高端男装市场定位</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">大众交通</td>
|
||
<td class="py-3 px-4 border-b">交通物流</td>
|
||
<td class="py-3 px-4 border-b">无人驾驶出行</td>
|
||
<td class="py-3 px-4 border-b">交通服务</td>
|
||
<td class="py-3 px-4 border-b">新兴技术应用</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">永泰运</td>
|
||
<td class="py-3 px-4 border-b">交通物流</td>
|
||
<td class="py-3 px-4 border-b">拥有全链条跨境化工物流服务能力</td>
|
||
<td class="py-3 px-4 border-b">化工物流</td>
|
||
<td class="py-3 px-4 border-b">跨境物流全链条覆盖</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">幸福蓝海</td>
|
||
<td class="py-3 px-4 border-b">游戏影视</td>
|
||
<td class="py-3 px-4 border-b">构建了完整的产业链，包括创作、制作、推广和放映</td>
|
||
<td class="py-3 px-4 border-b">文化传媒</td>
|
||
<td class="py-3 px-4 border-b">影视全产业链布局</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">完美世界</td>
|
||
<td class="py-3 px-4 border-b">游戏影视</td>
|
||
<td class="py-3 px-4 border-b">上半年营收4亿美元，国内排名20</td>
|
||
<td class="py-3 px-4 border-b">游戏开发</td>
|
||
<td class="py-3 px-4 border-b">营收规模与行业排名</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">家家悦</td>
|
||
<td class="py-3 px-4 border-b">商超</td>
|
||
<td class="py-3 px-4 border-b">山东本地第一大零售上市公司</td>
|
||
<td class="py-3 px-4 border-b">商业连锁</td>
|
||
<td class="py-3 px-4 border-b">区域零售龙头</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">*ST人乐</td>
|
||
<td class="py-3 px-4 border-b">商超</td>
|
||
<td class="py-3 px-4 border-b">全国零售企业</td>
|
||
<td class="py-3 px-4 border-b">商业连锁</td>
|
||
<td class="py-3 px-4 border-b">全国性零售网络</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">生意宝</td>
|
||
<td class="py-3 px-4 border-b">其他</td>
|
||
<td class="py-3 px-4 border-b">大宗商品数据</td>
|
||
<td class="py-3 px-4 border-b">信息服务</td>
|
||
<td class="py-3 px-4 border-b">数据服务专业化</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">好上好</td>
|
||
<td class="py-3 px-4 border-b">其他</td>
|
||
<td class="py-3 px-4 border-b">电子元器件分销</td>
|
||
<td class="py-3 px-4 border-b">电子元器件</td>
|
||
<td class="py-3 px-4 border-b">分销渠道优势</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">利民股份</td>
|
||
<td class="py-3 px-4 border-b">其他</td>
|
||
<td class="py-3 px-4 border-b">农药原药、剂型及附产品的领军企业，杜邦、先正达以及拜耳等国际知名公司的供应商</td>
|
||
<td class="py-3 px-4 border-b">化工</td>
|
||
<td class="py-3 px-4 border-b">国际客户合作与技术领先</td>
|
||
</tr>
|
||
<tr class="hover:bg-gray-50">
|
||
<td class="py-3 px-4 border-b font-medium text-blue-600">财富趋势</td>
|
||
<td class="py-3 px-4 border-b">其他</td>
|
||
<td class="py-3 px-4 border-b">公司产品和服务已覆盖了国内90%以上的证券公司</td>
|
||
<td class="py-3 px-4 border-b">金融IT</td>
|
||
<td class="py-3 px-4 border-b">证券IT市场高覆盖率</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<script>
|
||
// 初始化Vanta.js背景效果
|
||
VANTA.WAVES({
|
||
el: "#vanta-bg",
|
||
mouseControls: true,
|
||
touchControls: true,
|
||
gyroControls: false,
|
||
minHeight: 200.00,
|
||
minWidth: 200.00,
|
||
scale: 1.00,
|
||
scaleMobile: 1.00,
|
||
color: 0x1a365d,
|
||
shininess: 30.00,
|
||
waveHeight: 15.00,
|
||
waveSpeed: 0.75,
|
||
zoom: 0.65
|
||
});
|
||
</script>
|
||
</body>
|
||
</html>
|
||
``` |