Core Viewpoint - The article highlights that Yuejiang has successfully initiated the mass production and delivery of its full-size industrial humanoid robot, ATOM, marking a significant milestone in the commercialization of humanoid robots and showcasing its unique position in the industry [2][4]. Group 1: Production and Delivery - Yuejiang has commenced the third batch of full-size industrial humanoid robots ATOM for mass production and delivery in 2026, indicating a new phase of large-scale application in various industries [2][4]. - The robots demonstrated synchronized movements and advanced capabilities, such as dynamic balance and precision assembly, during the delivery event, emphasizing their readiness for real-world applications [4][5]. Group 2: Technological Advantages - Yuejiang's humanoid robots possess three core advantages derived from real production environments: industrial-grade reliability, deep scene understanding, and the ability to collaborate with various robotic forms under a unified intelligent hub [5][7]. - The production process of the ATOM robots involves comprehensive supply chain integration, quality control, and engineering capabilities, ensuring each robot undergoes rigorous standardized testing for performance consistency and reliability [7][9]. Group 3: AI and Practical Applications - The ATOM robots are equipped with Yuejiang's self-developed DOBOT-VLA model, which integrates visual perception, natural language understanding, and action generation, enabling them to convert abstract commands into structured task chains [9][10]. - The practical value of humanoid robots is highlighted through examples like the popcorn robot in Shenzhen K11 cinema, which can understand its environment and make autonomous decisions, showcasing the shift from traditional mechanical functions to intelligent agents [10][12]. Group 4: Industry Context and Future Outlook - The Chinese "14th Five-Year Plan" has identified embodied intelligence as one of the six future industries, with humanoid robots as a core component, indicating a critical window for technological breakthroughs and industrial growth [12]. - Yuejiang, as one of the few companies emerging from the manufacturing sector, is committed to integrating technology into real-world scenarios, driving the adoption of humanoid robots in various operational environments [12].

普美希替尼有望成为全球首款鼻喷JAK抑制剂 本文为IPO早知道原创 作者｜ 罗宾 微信公众号｜ipozaozhidao 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 据IPO早知道消息，近日，普祺医药宣布，已与济川药业集团有限公司（下称"济川药业"）正式订立 合作协议，双方就1类创新药普美昔替尼鼻喷雾剂达成战略合作。根据协议条款，普祺医药将获得最 高1亿元人民币的交易对价，其中首付款4000万元，里程碑付款最高6000万元。济川药业将获得该 产品在大中华区（含大陆、香港、澳门和台湾地区）的独家商业化权益。 此次合作将进一步强化普祺医药在免疫/炎症性疾病创新药的管线布局，并加速该产品的临床推进、 适应症拓展以及商业化落地，推动全新、突破性疗法更快的惠及患者。 普祺医药董事长兼总经理李雨亮表示："我们期待与济川药业缔结伙伴关系，为更多患者带来高质量 的创新药。普美昔替尼鼻喷雾剂在过敏性鼻炎治疗方面，具有显著的差异化优势。我们对未来合作充 满信心，期待在双方团队的共同努力下取得更大的成就。" 济川药业总经理曹伟表示："很高兴与普祺医药达成战略合作，济川药业聚焦中长期发 ...

目标价为23.00港元。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，国际知名金融机构中信里昂日前发布最新研究报告显示，佑驾创新（2431.HK） 目标价为23.00港元，维持"优于大市"评级。 中信里昂报告指出，基于佑驾创新在汽车前装业务和国际市场的先发优势，加之相关政策利好 ，其 智能驾驶与智能座 舱业务均有望保持稳健增长。其无人物流业务将成为第二增长引擎，推动公司营 收进一步增长。公司管理层预测2026年无人物流车销量将达到1万台。 中信里昂认为，无人物流车是L4级自动驾驶的最佳实践场景，其强大的商业属性将推动市场渗透率 快速提升（当前渗透率<2%），服务质量将成为制胜关键。而且，无人物流行业有望在2025年价格 战之后实现复苏，短期内预计不会出现激烈的价格竞争，佑驾创新可凭借产品实力脱颖而出——基于 在无人小巴上积累的L4算法、L2+智能驾驶上积累的海量数据以及底盘控制经验，佑驾创新的无人 物流方案在市场上体现了相当的竞争力。该业务有望成为公司的第二增长引擎。 作为行业内少数实现L2+L4双线并进的稀缺标的，佑驾创新前瞻布局"智能出行+ ...

李立恒长期深耕于一线市场拓展与团队体系建设，他在人员招募、培训及实战管理方面的经验，将直 接服务于城市合伙人团队的搭建与运营；王明峰则在复杂业务场景下具备成熟的战略设计与组织复制 能力，他的加入将为擎天租全国网络的标准化运营与规模扩张提供系统方法论支持。 随着李立恒与王明峰的到位，擎天租核心管理团队进一步完善。目前，公司管理层已集结多元背景人 才，除了新加入的两位阿里系高管之外，智元合伙人、联席总裁姜青松出任公司董事长；飞阔科技创 始人李一言担任CEO；前饿了么副总裁陈艳霞出任COO；喵掌柜创始人李可为担任CMO。 不可否认的是，随着机器人服务进入规模化商用阶段，平台型公司的竞争焦点正从单一产品能力，转 向组织效率、交付体系与网络化运营能力。作为业内率先以平台化模式系统整合全国机器人租赁服务 资源的企业，擎天租正在探索一条不同于单点交付的规模化路径。 擎天租平台数据显示，上线三周 后，擎天租注册用户数已突破20万，日均租赁订单稳定在200单以上。 伴随具备成熟地面扩张经验与战略视野的管理团队就位，擎天租以城市合伙人为抓手的全国布局，正 从阶段性验证，走向可复制、可扩展的系统化推进阶段。 本文由公众号IPO早知 ...

Core Viewpoint - Tianyi Space Technology Co., Ltd. is set to complete its filing process and officially submit its IPO prospectus in the first half of this year, marking a significant step in its growth trajectory as a SAR satellite constellation operator [4][5]. Group 1: Company Overview - Established in 2015, Tianyi Research Institute focuses on providing cost-effective SAR satellite construction and integrated data services, achieving a leap from "single satellite verification" to "mass production" [5]. - The company has completed 21 space missions and successfully launched a total of 38 satellites, including China's first commercial SAR satellites, filling a gap in the domestic market [5]. - Tianyi has developed a full industrial ecosystem for C-band commercial SAR satellites, covering satellite design, constellation operation, and data services [5]. Group 2: Technological Capabilities - The key technical indicators of Tianyi's satellites have reached an internationally advanced level, with capabilities for InSAR interferometric imaging, enabling millimeter-level monitoring of ground deformation [5]. - The company has acquired tens of thousands of imaging data from its in-orbit SAR satellites, which have been successfully applied in critical areas such as urban safety, emergency rescue, and infrastructure monitoring [6]. Group 3: Investment and Support - Tianyi Research Institute has received investments from several well-known institutions, including Northern Light Venture Capital, National Science and Technology Innovation Fund, and Lenovo Star, among others [6].

2025年前三季度，绿联科技来自海外市场的收入占比为59.6%。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，深圳市绿联科技股份有限公司（以下简称"绿联科技"）于2026年2月2日正式向 港交所递交招股说明书，拟在港交所主板完成"A+H"两地上市，华泰国际担任独家保荐人。 自2024年7月登陆深交所以来，绿联科技的股价已上涨超235%，市值超288亿元。 成立于2012年的绿联科技作为一家全球科技消费电子品牌企业，依托充电创意产品、智能办公产 品、智能影音产品和智能存储产品四大产品类别，全方位覆盖家庭、出行、办公、娱乐等各类日常应 用场景。 2023 年 和 2024 年 ， 绿 联 科 技 的 净 利 润 分 别 为 3.94 亿 元 和 4.61 亿 元 ， 分 别 同 比 增 长 19.3% 和 17.0%； 2025年前三季度，绿联科技的净利润同比增长45.8%至4.67亿元，同样已超2024年全年 盈利规模。 在本次香港IPO前，高瓴持有绿联科技5.86%的股份，为最大外部投资方。 绿联科技在招股书中表示，本次香港IPO募集所得资金净 ...

Core Insights - LimX Dynamics has completed a $200 million Series B financing round, with participation from various well-known domestic and international institutional investors, including Stone Venture, Dongfang Fuhai, and others [2] - The company plans to increase R&D and market investments by 2026, focusing on breakthroughs in core technologies related to embodied intelligence and humanoid robotics [4] Group 1: Company Overview - LimX Dynamics, established in 2022, is an AI-driven humanoid robotics company aiming to create full-size general-purpose humanoid robots and has developed innovative products like the multi-modal robot TRON [4] - The company emphasizes disruptive innovation in embodied intelligence, aiming to enhance the generalization capabilities of AGI in the physical world across various sectors, including research, manufacturing, and home applications [4] Group 2: Product Innovations - The TRON 2 robot features a modular design that allows for flexible combinations of various forms, enabling developers and industry users to quickly construct suitable robot shapes for different applications without the need for repeated hardware customization [6] - LimX COSA is an independently developed embodied Agentic OS that integrates high-level cognition, decision-making, and full-body motion control, allowing humanoid robots to understand tasks, perceive environments, and adjust decisions in real-time [8]

Group 1: IPO Dynamics - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. officially listed on the Hong Kong Stock Exchange on January 28, 2026, becoming the "first stock of snack retail" in Hong Kong with the stock code "1768" [3] - Mingming Hen Mang issued a total of 15,511,200 H-shares, raising a total of HKD 3.67 billion at an issue price of HKD 236.60 per share, with a subscription rate of 1,899.49 times for public offerings and 44.44 times for international offerings [3][4] - The company has a strong cornerstone investor lineup, including Tencent and Temasek, which subscribed for USD 45 million and USD 45 million respectively, and BlackRock for USD 35 million [4] Group 2: Company Performance - As of September 30, 2025, Mingming Hen Mang operated 19,517 stores across 28 provinces and all tiered cities in China, becoming the first company in the industry to exceed 20,000 stores [5] - The company achieved a GMV of RMB 66.1 billion in the first three quarters of 2025, a year-on-year increase of 74.5%, serving 2.1 billion consumers [5] - The founder and CEO expressed the company's vision to provide affordable snacks and create a joyful experience for consumers [6] Group 3: Aixin Yuanzhi Semiconductor - Aixin Yuanzhi Semiconductor Co., Ltd. plans to list on the Hong Kong Stock Exchange on February 10, 2026, with the stock code "0600" [7] - The company aims to raise up to HKD 2.958 billion by issuing 104,915,200 H-shares at an issue price of HKD 28.20 per share, with a cornerstone investment of USD 185 million [8][9] - Aixin Yuanzhi has become the fifth largest visual edge AI inference chip supplier globally, with a market share of 24.1% in the high-end segment [9][10] Group 4: Zhuozheng Medical - Zhuozheng Medical Holdings Limited plans to list on the Hong Kong Stock Exchange on February 6, 2026, with an IPO target of over HKD 300 million [11][12] - The company has a diverse cornerstone investor base, including notable figures from the medical and technology sectors [12] - Zhuozheng Medical's revenue from 2022 to 2024 showed a compound annual growth rate of 42.2%, with a significant increase in gross profit [13] Group 5: Robotics and Automation - Tianjin Atonmo Robot Co., Ltd. submitted its IPO application to the Hong Kong Stock Exchange on January 28, 2026, focusing on high-precision robots [14][15] - The company has maintained the highest market share in domestic parallel robots for five consecutive years, with a revenue increase of 72.5% in the first three quarters of 2025 [15][16] - Atonmo's products have been applied in over 1,000 scenarios across various industries [14] Group 6: Digital MRO Services - Shanghai Xinyi Linhe Technology Co., Ltd. aims to list on the Hong Kong Stock Exchange, focusing on digital MRO procurement services [20] - The company reported a cumulative transaction volume of approximately RMB 8.5 billion in 2023, with a significant increase in revenue [21][22] - Xinyi Linhe has established partnerships with over 3,000 MRO product manufacturers and suppliers, covering more than 220,000 retail hardware stores [20] Group 7: FA Equipment Procurement - YESMRO Holdings Limited submitted its IPO application to the Hong Kong Stock Exchange, focusing on digital transformation in FA equipment procurement [24][25] - The company has achieved over 81.3% in stock availability and 96.5% in on-time delivery rates, setting industry benchmarks [24] - YESMRO has served over 24,000 different scale automation equipment manufacturers across multiple industries [25] Group 8: Skincare Industry - Shenzhen HBN Technology (Group) Co., Ltd. aims to become the "first stock of true efficacy skincare" in China, with a focus on sustainable brand development [28] - HBN has established itself among the top ten domestic skincare brands in China, with a significant market share in the improvement skincare segment [28][29] - The company reported a revenue of RMB 2.08 billion in 2024, with a notable increase in adjusted net profit [29] Group 9: Automotive Technology - Zhejiang Konghui Automotive Technology Co., Ltd. has initiated its A-share IPO process, focusing on air suspension systems [36][37] - The company has delivered over 1 million air suspension systems and established partnerships with more than 20 mainstream automotive brands [36] - Konghui has successfully entered the supply chain of international luxury automotive brands [37]

截至目前，泡泡玛特已在英国开设14家门店。其中，泡泡玛特在伦敦这一英国首都及欧洲最大金融 中心开设有7家门店，并在曼彻斯特、伯明翰、牛顿、剑桥、利物浦等大城市均有布局，这在一定程 度上反映了泡泡玛特在英国当地的受欢迎程度。 计划在欧洲各地拓展20家门店。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，在1月30日举行的中英商务论坛上，包括泡泡玛特创始人、CEO王宁在内的多位 企业家受邀参与"CEO圆桌会"闭门会谈，与英国首相基尔·斯塔默进行会面。 会上， 泡泡玛特宣布将伦敦定为欧洲总部所在地，未来将在英国新增伯明翰、卡迪夫及伦敦牛津街 旗舰店等7家线下门店，同时计划在欧洲各地拓展20家门店 ，相关投资将为英国创造超150个就业 岗位。 王宁在与首相的会面中表示，伦敦作为全球创意生态核心，是品牌扎根欧洲、深耕全球市场的重要选 择。依托欧洲总部的设立，泡泡玛特将进一步整合全球创意资源，面向欧洲召集优秀艺术家展开深度 合作，持续挖掘IP创意价值，推动中外潮流文化的交流与融合。 值得注意的是，花旗最新发布的基于全球5国1501名消费者的调研报告显示，英国 ...

Core Viewpoint - YESMRO Holdings Limited (referred to as "易买工品") is positioned as the leading supplier in China's digital FA factory automation component procurement service market, with a market share of 8.5% based on 2024 revenue projections [6]. Group 1: Company Overview - Established in 2016, 易买工品 focuses on the digital transformation of a traditionally fragmented and inefficient offline trading industry, initially targeting small clients to build an instant supply chain for FA factory automation components [3]. - The company has developed strong supply chain integration, research and development, and inventory management capabilities, leveraging digital technology to enhance procurement efficiency for automation equipment manufacturers [5]. Group 2: Supply Chain and Operational Efficiency - 易买工品's supply chain network includes approximately 2,500 suppliers and over 800 brands, featuring global leaders, which provides a significant competitive advantage in meeting urgent project timelines [5]. - The company achieved over 81.3% in stock availability and 96.5% in on-time delivery rates during the first three quarters of 2023, 2024, and 2025, both of which are industry-leading benchmarks [7]. - Inventory turnover days for the first three quarters of 2023, 2024, and 2025 were 17, 13, and 14 days, respectively, indicating effective working capital management while maintaining high inventory availability [7]. Group 3: Customer Base and Retention - 易买工品 has served over 24,000 automation equipment manufacturers across various industries, including automotive, consumer electronics, logistics, and pharmaceuticals [8]. - The number of paying users increased from 14,723 in 2023 to 15,990 in 2024, with a year-on-year growth of 17.4% to 16,396 in the first three quarters of 2025, indicating deepening integration of its services into customer operations [8]. Group 4: Product Offering and Brand Development - The company has developed a proprietary digital operating system called "宪章大脑," integrating advanced AI technology with operational data to enhance decision-making across various management functions [7]. - As of September 30, 2025, 易买工品's proprietary brand product portfolio includes over 837,000 stock-keeping units across seven categories, with revenue contribution from proprietary brands increasing from 3.3% in 2023 to 5.2% in the first three quarters of 2025 [10]. Group 5: Financial Performance - 易买工品 reported revenues of 534 million yuan and 637 million yuan for 2023 and 2024, respectively, reflecting a year-on-year growth of 19.2% [11]. - The company plans to use the net proceeds from its IPO to develop proprietary brands, enhance market position, accelerate global expansion, and upgrade its automated warehousing network [11].