Group 1: Financial Performance - The company reported a 36% year-on-year increase in revenue to HKD 731 million and a 26% increase in gross profit to HKD 295 million for 1H25, with a net profit attributable to shareholders rising 30% to HKD 339 million, aligning with expectations [1] - A special dividend of HKD 768 million was declared on March 26, 2025, alongside an interim dividend of HKD 271 million, bringing the total dividends for 1H25 to HKD 1.039 billion, resulting in a dividend yield of 5.83% as of September 3, 2025 [1] Group 2: Business Operations - The revenue growth was primarily driven by operational service income and investment income from financial assets measured at fair value, which increased by 28% and 306% to HKD 476 million and HKD 129 million, respectively [1] - The company is actively investing in leading enterprises in the robotics sector through its Beijing Robotics Industry Development Investment Fund, which has a scale of HKD 10 billion, with potential returns expected from some of these investments as they apply for IPOs [2] Group 3: Strategic Initiatives - The company has established a comprehensive service model for robotics, including sales agency and leasing services, and has partnered with over 50 companies to enhance its ecosystem [2] - The company is leveraging its infrastructure operations to provide real-world applications for robotics, which in turn supports its fund management business, indicating a deep integration of asset operations and financing [2] Group 4: Profit Forecast and Valuation - The net profit forecast for 2025 and 2026 has been raised by 7% and 6% to HKD 650 million and HKD 750 million, reflecting growth in core business and potential investment returns, maintaining an outperform rating [3] - The target price has been increased by 5% to HKD 2.73, corresponding to 2.2 times the 2025 price-to-book ratio, suggesting a 19% upside from the current stock price [3]

1、 "机器狼"亮相九三阅兵陆上无人作战方队 在九三阅兵的陆上无人作战方队中，"机器狼"首次登场便引发关注，网友评价其"萌且猛"。相较于"机器 狗"，"机器狼"由四足机器狗加装武器或侦察设备进化而来，在侦察、打击、保障处置等方面能力更强。 此次阅兵，新域新质作战力量成亮点，无人战车实现陆上有人无人协同作战新突破。据了解，中国兵器装 备集团有限公司自主研制的"机器狼"此前在第15届中国航展现场，已首次进行动态演示，"机器狼"分"头 狼"侦察探测、"射手"精确打击、"辅助"伴随保障，各司其职。在今年思想解读类融媒体片《攻坚——矢 志强军向一流》中，亦有"机器狼"与士兵协同作战画面呈现，挂载步枪的察打一体"机器狼"以精准火力实 施压制，同时向"敌占区"快速机动后方士兵保持紧密战术协同跟进。当前，无人化作战时代已至，有人无 人协同作战正以技术推动战术升级。 2、 OpenAI 将与博通合作量产自研 AI 芯片 据《金融时报》报道，OpenAI 计划与博通开启大规模合作，推动自研 AI 芯片量产。路透社今年 2 月曾 指出，OpenAI 把自研芯片当作增强与供应商谈判能力的关键工具，其首款芯片聚焦 AI 模型训练，未来 ...

Group 1: Hong Kong Stock Market Highlights - China Tobacco Hong Kong (06055) rose over 2% after announcing exclusive distribution agreements for brand cigars with Hubei and Shandong Tobacco [1] - Sportswear stocks generally increased, with Li Ning (02331) up nearly 1% and Tmall (06110) up nearly 2%, following a government directive to enhance the modern sports industry and boost consumption [1] - He Yu-B (02256) surged over 3% as the company announced multiple positive developments, including the approval of oral PD-L1 combined with Gorai Leisai for Phase II clinical trials [1] - Gold stocks collectively rose, with Lingbao Gold (03330) up over 4%, China Gold International (02099) up over 1%, and Zijin Mining (02899) up over 3%, amid expectations of a U.S. interest rate cut [1] - UBTECH (09880) increased over 2% after Citigroup reported that the company has received 400 million RMB in humanoid robot orders and secured a $1 billion strategic investment from a Middle Eastern fund [1] - Huimai Technology (01860) surged over 12%, reaching a historical high, with a year-to-date stock price increase of over 110% due to the continuous iteration of its AI-driven smart bidding system [1] Group 2: Other Notable Stocks - Wanka Yilian (01762) rose over 11% after announcing a comprehensive cooperation memorandum with Alibaba Cloud to create an AI marketing ecosystem [2] - Longpan Technology (02465) increased over 10%, with Citic Securities indicating potential opportunities in the battery sector due to an upcoming significant meeting [2] - Juzi Bio (02367) rose over 4%, with institutions optimistic about the recovery of live streaming during the upcoming Double Eleven shopping festival [2] - Shoucheng Holdings (00697) increased over 8% after its subsidiary announced additional investment in Songyan Power amounting to several million RMB [2] Group 3: U.S. Stock Market Highlights - Salesforce (CRM.US) fell 4.85% after reporting a 9.8% year-over-year revenue growth for Q2, with Q3 revenue guidance slightly below expectations [3] - American Eagle (AEO.US) surged 37.96% after exceeding expectations in its Q2 earnings report [3] - Hewlett Packard Enterprise (HPE.US) rose 1.49% with a 19% year-over-year revenue growth in Q3, marking a record high [3] - United Microelectronics (UMC.US) increased 3.46%, reporting a 1.86% year-over-year sales growth for the first eight months of the year [3] - ZTO Express (ZTO.US) continued to rise by 0.94%, with the logistics industry index in China at 50.9%, up 0.4 percentage points from the previous month [3] - Bilibili (BILI.US) rose 0.99%, with research indicating high growth in the gaming industry supported by policy, expecting continued quarter-over-quarter improvement [3] - Waterdrop (WDH.US) increased 2.25%, reporting nearly a 120% growth in net profit attributable to shareholders, driven by AI model empowerment [3] Group 4: Additional U.S. Stock Movements - Sanofi (SNY.US) fell 9.14% despite achieving all primary and secondary endpoints in a Phase III study for Amlitelimab, as results did not meet market expectations [4] - Toyota (TM.US) rose 2.40% after announcing plans to produce a pure electric vehicle model at its Czech factory, marking its first electric vehicle production in Europe [4] - Baidu (BIDU.US) increased 1.88% following the release of an action plan by the Ministry of Industry and Information Technology to enhance intelligent cloud services [4] Group 5: Earnings Reports and Forecasts - C3.ai (AI.US) fell 7.31% after reporting Q1 results and revenue guidance for FY2026 that fell short of expectations [5] - Samsara (IOT.US) rose over 10% with a 30% year-over-year revenue growth in Q2 [5] - UiPath (PATH.US) increased nearly 5%, reporting Q2 revenue of $362 million, a 14% year-over-year growth, and projecting FY2026 revenue between $1.571 billion and $1.576 billion [5] - DocuSign (DOCU.US) rose nearly 9% after reporting Q2 revenue of $800.6 million, a 9% year-over-year increase, with GAAP gross margin at 79.3% [5]

今年上半年，首程控股实现收入约7.31亿港元，同比上涨36%；归母净利润3.39亿港元，同比上涨 30%。东吴证券指，公司今年上半年营收稳健增长，机器人产业布局加速。从产业投资维度看，2025年 以来公司管理的多支产业基金已完成对多家核心企业的投资，目前投资版图已覆盖宇树科技、银河通 用、星海图、松延动力等机器人产业链核心企业。考虑到公司主业稳健，叠加在人形机器人上的深入布 局，维持公司"买入"评级。 消息面上，近日，首程控股旗下北京机器人产业发展投资基金宣布完成对松延动力数千万元人民币追加 投资。这是继2024年3月首轮投资之后，基金再次加码支持松延动力。值得关注的是，宇树科技近日在 社交媒体上发帖称，预计将在2025年10月至12月期间向证券交易所提交上市申请文件，届时公司的相关 运营数据将正式披露。 首程控股(00697)涨超8%，截至发稿，涨8.14%，报2.39港元，成交额3.29亿港元。 ...

今年上半年，首程控股实现收入约7.31亿港元，同比上涨36%；归母净利润3.39亿港元，同比上涨 30%。东吴证券指，公司今年上半年营收稳健增长，机器人产业布局加速。从产业投资维度看，2025年 以来公司管理的多支产业基金已完成对多家核心企业的投资，目前投资版图已覆盖宇树科技、银河通 用、星海图、松延动力等机器人产业链核心企业。考虑到公司主业稳健，叠加在人形机器人上的深入布 局，维持公司"买入"评级。 消息面上，近日，首程控股旗下北京机器人产业发展投资基金宣布完成对松延动力数千万元人民币追加 投资。这是继2024年3月首轮投资之后，基金再次加码支持松延动力。值得关注的是，宇树科技近日在 社交媒体上发帖称，预计将在2025年10月至12月期间向证券交易所提交上市申请文件，届时公司的相关 运营数据将正式披露。 智通财经APP获悉，首程控股(00697)涨超8%，截至发稿，涨8.14%，报2.39港元，成交额3.29亿港元。 ...

首程上半年收入及毛利润分别同比提升36%及26%，至7.31亿及2.95亿元，归母净利润同比提升30%至 3.39亿元，符合该行预期。公司于今年3月26日宣告特别派息7.68亿元，叠加中期股息2.71亿元，上半年 累计宣派股息金额达10.39亿元，对应5.83%的股息收益率。 智通财经APP获悉，中金发布研报称，上调首程控股(00697)2025至2026年归母净利润预测7%及6%，至 6.5亿元及7.5亿元，分别为同比升58%及16%，主要反映公司核心业务及潜在投资收益增长，维持"跑赢 行业"评级。考虑到公司发展态势积极向好，上调目标价5%至2.73港元，相当今明两年市净率各1.8倍及 1.9倍。 ...

中金发布研报称，上调首程控股(00697)2025至2026年归母净利润预测7%及6%，至6.5亿元及7.5亿元， 分别为同比升58%及16%，主要反映公司核心业务及潜在投资收益增长，维持"跑赢行业"评级。考虑到 公司发展态势积极向好，上调目标价5%至2.73港元，相当今明两年市净率各1.8倍及1.9倍。 首程上半年收入及毛利润分别同比提升36%及26%，至7.31亿及2.95亿元，归母净利润同比提升30%至 3.39亿元，符合该行预期。公司于今年3月26日宣告特别派息7.68亿元，叠加中期股息2.71亿元，上半年 累计宣派股息金额达10.39亿元，对应5.83%的股息收益率。 ...

近期，首程控股(0697.HK)在资本市场引发了广泛关注，尤其是其配售定价引起了投资者和分析师的高 度讨论。此次配售不仅是对公司在资本市场的一个重要验证，也是对首程控股未来发展战略的强力支 撑。 从溢价发售到资金用途的推测，再到市场反应与股价走势，首程控股的配售无疑展现了其在资本市场中 的强大定价权和未来增长的潜力。 一、配售详情：溢价发售5%，首程控股的强大定价权 首程控股此次配售的定价为过去五个交易日均价的溢价5%，这一溢价发售的定价策略，突显了公司强 大的市场定价权。相较于国内很多定增(通常折扣在7折到8折之间)，首程控股的这一策略表明公司在资 本市场中已经获得了极高的认可度，并且市场对其未来发展充满信心。 溢价发售通常反映出市场对公司未来增长潜力的认可，尤其是当公司能够以溢价价格进行配售时，意味 着公司在行业内已经具备了强大的话语权和定价能力。首程控股的成功溢价发售，不仅展示了其在机器 人产业中的领先地位，也表明资本市场已经看好公司未来在技术和市场应用方面的拓展。 三、首程控股的定价权：与其他定增案例的对比 此次配售的溢价发售，进一步印证了首程控股在资本市场的强势定价权。小米在上市时曾面临较大的市 场 ...

Group 1 - The Shanghai Composite Index fell by 0.92%, while the Robot ETF (562500) decreased by 0.90%, despite earlier attempts to rise [1] - The Robot ETF has attracted significant capital inflow, with a net inflow of 116 million yuan yesterday and over 1.39 billion yuan in the past five trading days, surpassing 1 billion yuan of similar ETFs [1] - Shou Cheng Holdings plans to open 10 robot 4S stores in key cities across the country within the next six months, aiming to promote the application and consumerization of robots [1] Group 2 - Dongfang Securities highlights Sanhua Intelligent Control's strong focus on developing robots and data center liquid cooling, which opens new growth opportunities [2] - The company continues to concentrate on the electromechanical actuator business for robots, achieving customer recognition and mass production [2] - The Robot ETF (562500) is the only robot-themed ETF in the market with a scale exceeding 10 billion yuan, covering various segments such as humanoid robots, industrial robots, and service robots [2]

募集所得资金的约70%将用于开设约20家科技体验店及拓展资产营运领域的新业务，以支持集团核心业 务战略布局并推动智能基础设施资产运营模式创新，践行"让科技走进生活"的愿景。剩余30%将用于一 般企业营运资金。此举旨在扩大市场占有率，巩固集团在智能基础设施领域的领先地位，为股东创造长 期回报。 首程控股公布，计划以每股2.17港元配售约2.765亿股股份，预计募集资金总额约6亿港元，净额约5.97 亿港元。 ...