Group 1 - The core achievement of the company is the successful "revival" of the prehistoric creature, the Chinese Dragon Bird, utilizing multimodal interaction technology, marking a significant commercialization of embodied intelligence technology [1] - The revived Chinese Dragon Bird is not a static exhibit but an interactive intelligent entity capable of walking, breathing, and making sounds, integrating complex technologies such as multimodal interaction, environmental perception, and motion control [1] - The project opens a pathway for the commercialization of embodied intelligence technology, transforming it from a laboratory concept into a defined commercial product that addresses the questions of what embodied intelligence can do in open environments and for whom it creates value [1] Group 2 - The project aims to build a universal embodied intelligence technology platform that allows for low-cost and efficient scaling through the logic of "hardware rotation and content reuse," enabling the same robotic "core" to quickly "revive" other ancient creatures and cultural IPs by changing the bionic skin and updating interaction programs [2] - This template-based replication capability significantly reduces marginal costs and allows for the amortization of high R&D investments [2] - The project effectively integrates and drives the industry chain, stimulating demand for high-precision simulation skins, precision electromechanical transmission, and new materials in high-end manufacturing, while also fostering a digital IP and content development ecosystem around dinosaur behavior libraries, interactive scripts, and educational courses [2]

Core Insights - The successful revival of the ancient bird "Chinese Dragon Bird" by Yuejiang Technology marks a significant milestone in the commercialization of embodied intelligence technology, opening new growth avenues in cultural tourism and education sectors [1][10][11] Group 1: Technological Advancements - The "Chinese Dragon Bird" is not just a static exhibit; it can walk, breathe, and interact intelligently with its environment and visitors, representing a leap in paleobiological restoration research from mere morphological reconstruction to behavioral interaction [3][5] - The project integrates complex technologies such as multi-modal interaction, environmental perception, and motion control, transforming the ancient bird into an interactive and perceptive intelligent entity [5][6] Group 2: Commercial Viability - The project has created a complete closed loop from technology development to market returns, demonstrating its ability to generate stable cash flow through effective customer attraction and increased dwell time, leading to ticket and ancillary revenue [6][11] - The innovative light-asset operation model allows for rapid "revival" of other ancient creatures through "skin swapping," enabling low-cost and efficient scaling, which significantly reduces marginal costs and enhances financial attractiveness for global cultural tourism and education markets [7][9] Group 3: Industry Impact - The revival of the "Chinese Dragon Bird" effectively drives the demand for high-precision simulation skins, precision electromechanical transmission, and new materials, thereby upgrading the high-end manufacturing industry [9] - The project fosters a digital IP and content development ecosystem around dinosaur behavior libraries, interactive scripts, and educational courses, contributing to the formation of a new cultural technology industry cluster [9][11]

Group 1 - The stock of Yuejiang (02432.HK) rose over 7% in late trading, specifically by 7.23%, reaching a price of 51.15 HKD [1] - The trading volume amounted to 132 million HKD [1]

Core Insights - Shenzhen Yujiang Technology Co., Ltd. has successfully commercialized embodied intelligence technology with the launch of the ultra-bionic intelligent entity, the "resurrection" of the Chinese dragon bird [1][2] - The project integrates complex multimodal interaction, environmental perception, and motion control technologies into an attractive bionic dinosaur model, addressing the core business challenge of value creation [1] - The innovative "hardware rotation, content reuse" asset-light model significantly reduces marginal costs and provides a clear, replicable profit model for entering the global cultural tourism and education markets [1] Industry Impact - The project transforms paleontological hypotheses into demonstrable, discussable dynamic evidence, advancing paleontological research from "morphological likeness" to "behavioral discussion" [2] - By using robotics as a dynamic substitute, the project protects fossils while converting complex ecological processes into precisely controlled teaching scenarios, thereby enhancing the "soft-hard integration" industry chain [2] - The successful implementation of embodied intelligence is positioned as a profitable engine that directly generates foot traffic, increases consumption, and produces stable cash flow [2] - The resurrection of the Chinese dragon bird not only creates an ultra-bionic intelligent entity but also establishes a replicable business paradigm for embodied intelligence, paving the way for tapping into a trillion-yuan market and promoting the commercialization and scaling of the entire industry [2]

Core Viewpoint - The company, 越疆机器人, has launched the world's first ultra-biomimetic embodied intelligent robot, marking a significant innovation in the robotics field [1] Group 1: Product Launch - On October 27, 越疆机器人 unveiled a robot resembling the Chinese dragon bird, showcasing advanced movements such as blinking, turning its head, and wagging its tail [1] - The product is aimed at the global cultural tourism and education markets, utilizing a light asset operation model through "hardware rotation and content reuse" [1] Group 2: Market Performance - As of the latest report, 越疆's stock price increased by 7.23%, reaching HKD 51.15, with a trading volume of HKD 132 million [1] - The company is expected to maintain performance growth despite facing a complex macroeconomic environment and uncertainties in tariffs and trade policies [1] Group 3: Strategic Outlook - According to 甬兴证券, the company is pursuing a dual strategy of "collaborative robot intelligent upgrades and embodied intelligent robot innovations" to drive product and technological breakthroughs [1] - The firm is optimistic about 越疆's positioning and advancements in the embodied intelligence sector [1]

智通财经APP获悉，越疆(02432)尾盘涨超7%，截至发稿，涨7.23%，报51.15港元，成交额1.32亿港元。 消息面上，10月27日，越疆机器人发布全球首个超仿生具身智能体，是机器人领域首次跨界运用物理特 效打造的产品。在官方视频中，展示出了一只神态动作兼备的中华龙鸟机器人，并出现了眨眼、扭头、 摆尾等动作。据新浪科技报道，该项目主要面向全球文旅、教育市场，是越疆机器人通过"硬件轮转、 内容复用"的轻资产运营模式，尝试以模板化复制能力，进入到消费级市场。 甬兴证券此前指出，2025年上半年，尽管面临复杂的宏观经济环境及关税与贸易政策方面的不确定性， 公司以"协作机器人智能化升级+具身智能机器人创新"双轮战略为引擎，在产品与技术创新方面实现突 破，并保持了业绩的持续增长。该行看好公司在具身智能领域的布局和推进。 ...

Core Viewpoint - Recently, Yunzhichuanghe Cultural Technology (Shenzhen) Co., Ltd. was established, focusing on various technology sectors including artificial intelligence and robotics [1] Company Summary - The company is registered with a capital of 15 million RMB [1] - The legal representative of the company is Jiang Yu [1] - The business scope includes the development of artificial intelligence software, manufacturing of service consumer robots, research and development of intelligent robots, and manufacturing of amusement equipment for outdoor amusement parks [1] Shareholder Information - The company is jointly held by Shenzhen Yuejiang Technology Co., Ltd. and Shanghai Xingzhijiao Film and Television Production Co., Ltd. [1]

Core Insights - Yunzhichuanghe Culture Technology (Shenzhen) Co., Ltd. has been established with a registered capital of 15 million yuan, focusing on artificial intelligence software development and related technologies [1][2]. Company Information - The company is registered in Nanshan District, Shenzhen, and its business scope includes AI application software development, AI theoretical and algorithm software development, AI basic software development, and research on intelligent robots and IoT technologies [1][2]. - The company is a limited liability company with an indefinite business term starting from October 20, 2025 [2]. Shareholding Structure - The company is co-owned by Yujian (02432.HK) and other stakeholders, with Yujian holding a 70% stake, contributing 10.5 million yuan [3]. - Other shareholders include Zhao Ding with a 16% stake (2.4 million yuan) and Shanghai Xingzhijiao Film and Television Production Co., Ltd. with a 14% stake (2.1 million yuan) [3].

Core Viewpoint - The company has granted a total of 612,825 stock options to 12 employees under its H-share option scheme, pending acceptance and compliance with the scheme rules [1] Group 1 - The stock options were awarded to recent hires, indicating a strategy to incentivize new employees [1] - The options are part of the H-share option scheme, which is designed to align employee interests with company performance [1]

Core Viewpoint - The company, 越疆 (02432), has announced the granting of a total of 612,800 stock options to 12 employees under its H-share stock option plan, pending acceptance and compliance with the plan's rules [1] Group 1 - The stock options were granted on October 20, 2025 [1] - The recipients of the stock options are recent hires of the company [1] - The stock options will only become effective after acceptance by the option recipients [1]