Market Overview - On Monday, the three major US stock indices showed mixed results, while the Hang Seng Index ADR declined, closing at 25,129.61 points, down by 47.24 points or 0.19% compared to the Hong Kong closing [1]. Company Performance - Most large-cap blue-chip stocks experienced declines, with HSBC Holdings closing at HKD 99.979, up by 1.55% compared to the Hong Kong closing; Tencent Holdings closed at HKD 586.613, down by 0.07% [3]. - Notable stock movements include Alibaba W, which closed at HKD 118.600, up by 0.500 or 0.42%; and Xiaomi Group-W, which closed at HKD 53.050, up by 0.200 or 0.38% [4]. - Other significant performers include AIA Group, which closed at HKD 74.600, down by 0.350 or 0.47%; and JD Group-SW, which closed at HKD 124.000, up by 3.200 or 2.65% [4].

相关事件 格隆汇8月15日丨地平线机器人-W(09660.HK)宣布将于2025年8月27日(星期三)举行董事会会议，藉以考 虑及批准(其中包括)集团截至2025年6月30日止六个月的中期业绩公告及其发布，以及考虑派发中期股 息(如有)。 公司的管理层将於北京╱香港时间2025年8月27日(星期三)下午七时正举行业绩电话会议。有意参加电 话会议的参与者请在会议计划开始时间前使用下文提供的链接完成在线登记。于登记后，参与者将收到 连入电话会议的拨号信息及独立辨识码(个人进入码)以及一封载有详细信息的确认邮件。 地平线机器人-W(09660.HK)8月27日举行董事会会议考虑及批准中期业绩 地平线机器人-W(9660.HK)： 规模化量产构建起完整的智能普惠生态 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 參與者在線直播登記： https://www.netroadshow.com/events/login/LE9zwo4C1sRrAQ2ApIlttQ3X7W2nFFZ32iA Horizon Robotics 地平線* （於開曼群島註冊成立以不同投票權控制的有限公司） （股份代號：9660） 董事會會議召開日期 地平線（「本公司」，連同其附屬公司，統稱「本集團」）董事會（「董事會」）謹此宣 佈將於2025年8月27日（星期三）舉行董事會會議，藉以考慮及批准（其中包括）本 集團截至2025年6月30日止六個月的中期業績公告及其發佈，以及考慮派發中期 股息（如有）。 本公司的管理層將於北京╱香港時間2025年8月27日（星期三）下午七時正舉行業 績電話會議。有意參加電話會議的參與者請在會議計劃開始時間前使用下文提供 的鏈接完成在線登記。於登記後，參與者將收到連入電話會議的撥號信息及獨立 辨識碼（個人進入碼） ...

Core Viewpoint - Horizon Robotics-W (09660) has seen a stock price increase of over 3% in the afternoon trading session, currently trading at 7.54 HKD with a transaction volume of 2.619 billion HKD, following a strategic partnership announcement with Obsidian Optoelectronics [1] Group 1: Partnership Details - On August 11, Obsidian Optoelectronics signed a cooperation agreement with Horizon Robotics and its subsidiary, Digua Robotics, to collaborate in the field of robotic intelligence [1] - The partnership aims to leverage each company's technological and product strengths to drive innovation and application in the robotics industry [1] Group 2: Strategic Goals - Digua Robotics CEO Wang Cong emphasized that the intelligent upgrade of robots is fundamentally about the synergy of the "perception-decision-execution" chain [1] - The collaboration is intended to enhance the efficiency of "eye-brain coordination" and facilitate smoother technology implementation [1] - The companies aim to accelerate the integration of 3D vision and computing platforms, unlocking significant potential for future applications [1] Group 3: Industry Impact - The partnership is positioned to help China's robotics industry transition from scale leadership to technological leadership [1]

Core Viewpoint - Horizon Robotics-W (09660) has seen a stock price increase of over 3% in the late trading session, currently up 2.44% at HKD 7.54, with a trading volume of HKD 26.19 billion [1] Group 1: Company Collaboration - On August 11, a cooperation agreement was signed between Obit Optical and Horizon Robotics along with its subsidiary, Diguo Robotics, to deepen collaboration in the field of robotic intelligence [1] - The CEO of Diguo Robotics, Wang Cong, emphasized that the intelligent upgrade of robots is fundamentally about the synergy of the "perception-decision-execution" chain [1] - The collaboration aims to enhance the efficiency of "eye-brain coordination" and facilitate smoother technology implementation, showcasing the potential of integrating 3D vision with robotic computing platforms [1] Group 2: Industry Impact - The partnership is expected to accelerate innovation in the integration of 3D vision and computing platforms, enabling more scenarios to achieve "more accurate perception and smarter decision-making" [1] - This strategic collaboration marks a transition from initial exploration in 2022 to a focused partnership, aiming to lead the Chinese robotics industry from scale to technological leadership [1]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (00728) at 74.70%, Green Power Environmental (01330) at 70.03%, and China Shenhua (01088) at 68.18% [1] - Tencent Holdings (00700), Alibaba-W (09988), and Kuaishou-W (01024) saw the largest increases in holding amounts over the last five trading days, with increases of +2.39 billion, +2.11 billion, and +1.60 billion respectively [1] - The largest decreases in holding amounts over the last five trading days were recorded by the Tracker Fund of Hong Kong (02800) at -7.82 billion, Hang Seng China Enterprises (02828) at -4.88 billion, and China Mobile (00941) at -1.34 billion [1] Hong Kong Stock Connect Latest Holding Ratios - China Telecom (00728): 10.368 billion shares, 74.70% holding ratio [1] - Green Power Environmental (01330): 0.283 billion shares, 70.03% holding ratio [1] - China Shenhua (01088): 2.303 billion shares, 68.18% holding ratio [1] - Other notable companies include Tianjin Chuangye Environmental (01065) at 64.43% and New天绿色能源 (00956) at 63.76% [1] Recent Increases in Holdings (Last 5 Trading Days) - Tencent Holdings (00700): +2.39 billion, +4.2595 million shares [1] - Alibaba-W (09988): +2.11 billion, +18.1194 million shares [1] - Kuaishou-W (01024): +1.60 billion, +20.1638 million shares [1] - Other companies with significant increases include China Shenhua (01088) and China Life (02628) [1] Recent Decreases in Holdings (Last 5 Trading Days) - Tracker Fund of Hong Kong (02800): -7.82 billion, -30.82404 million shares [1] - Hang Seng China Enterprises (02828): -4.88 billion, -5.35312 million shares [1] - China Mobile (00941): -1.34 billion, -1.54265 million shares [1] - Other companies with notable decreases include Southbound Hang Seng Technology (03033) and Guotai Junan International (01788) [1]

Core Insights - The 2025 China Embodied Intelligent Robot Industry Conference and Exhibition will take place from August 13 to August 15 in Shanghai, attracting over 200 brands and more than 10,000 attendees, aiming to enhance the embodied intelligence industry chain [1] - The global robot industry has seen significant growth over the past decade, with advancements in intelligent capabilities, application boundaries, and innovation factors [2][3] Industry Growth - In the first half of this year, China's robot industry revenue grew by 27.8%, with industrial and service robot production increasing by 35.6% and 25.5% respectively, maintaining its position as the largest industrial robot application market globally for 12 consecutive years [3] - The global first embodied intelligent robot 4S store, Robot Mall, opened in Beijing, integrating traditional automotive sales models into the robot industry [3] Commercialization and Market Forecast - 2025 is projected to be the year of mass production for humanoid robots, with companies like UBTECH and Tesla planning significant production and delivery of humanoid robots for various applications [4] - The global market for humanoid robots is expected to exceed $20 billion by 2030, with the Chinese market reaching around $5 billion, and optimistic forecasts suggest a potential market size of $154 billion by 2035 [4] Investment Opportunities - Wanlian Securities highlights the potential for humanoid robots to achieve large-scale application, emphasizing the importance of reducing costs for commercialization [5] - Companies with core component technology and those benefiting from the large-scale application of humanoid robots are recommended for investment [5] Related Companies - UBTECH has launched a full-size humanoid robot for educational purposes, with significant orders already in place, and is expanding production capacity to meet demand [6] - Horizon Robotics is projected to achieve a compound annual growth rate of 57.5% from 2025 to 2027, with a target price set by analysts [7] - SUTENG has showcased its new Active Camera platform at the 2025 World Robot Conference, holding the top market share in the global lidar sector [7]

Group 1 - MSCI China Index added 14 new stocks, including companies like 3SBio (01530), CITIC Financial Assets (02799), Horizon Robotics (09660), and others, reflecting strong performance in sectors such as technology, innovative pharmaceuticals, and new consumption [1][2] - The changes will take effect after the market closes on August 26, with 17 stocks being removed from the index, including Hisense Home Appliances (00921) and Zhongsheng Holdings (00881) [2][5] - The new additions are expected to attract more incremental capital to the related listed companies [1] Group 2 - The MSCI Global Standard Index added 42 stocks and removed 56 stocks, with the largest new additions in developed markets being Rocket Lab (USA), SoFi Technologies (USA), and Affirm Holdings (USA) [8] - In the emerging markets index, the top three new constituents include CITIC Bank, Dian Swastatika Sentosa, and Laopuhuangjin [8]

Core Viewpoint - MSCI announced the results of its August index quarterly review, which includes the addition and removal of several stocks in the MSCI China Index, reflecting recent strong performance in sectors such as technology, innovative pharmaceuticals, and new consumption [1]. Summary by Category Additions to MSCI China Index - 14 stocks were added to the MSCI China Index, including notable companies such as: - Lao Pu Gold (06181) - WuXi AppTec (02268) - Meitu (01357) - NetEase Cloud Music (09899) - 3SBio (01530) - Horizon Robotics (09660) - Global Data (09698) - Kintor Pharmaceutical (06990) - 5 additional A-shares including: - Zhinan (300803.SZ) - CITIC Bank (601998.SH) - Giant Network (002558.SZ) - Ailis (688578.SH) - Jingwang Electronics (603228.SH) [1][3][5]. Removals from MSCI China Index - 17 stocks were removed from the MSCI China Index, including: - Hisense Home Appliances (00921) - Zhongsheng Holdings (00881) - Yingjia Wine (603198.SH) - Oriental Yuhong (002271.SZ) - 13 additional stocks including: - Supor (002032.SZ) - Chihong Zn & Ge (600497.SH) - Morning Light Co. (603899.5H) - and others [1][3][5]. Global Index Changes - The MSCI Global Standard Index added 42 stocks and removed 56 stocks, with the largest new additions being Rocket Lab (USA), SoFi Technologies (USA), and Affirm Holdings (USA) [5]. - The top three new additions to the MSCI Emerging Markets Index include CITIC Bank, Dian Swastatika Sentosa, and Lao Pu Gold [5].

Group 1 - The top three stocks with net inflow of southbound funds are Yingfu Fund (02800) with 6.292 billion, Hang Seng China Enterprises (02828) with 1.618 billion, and Southern Hang Seng Technology (03033) with 0.956 billion [1] - The top three stocks with net outflow of southbound funds are China Mobile (00941) with -0.289 billion, Jitu Express-W (01519) with -0.185 billion, and Horizon Robotics-W (09660) with -0.152 billion [1] - In terms of net inflow ratio, Anjii Food (02648), Pacific Shipping (02343), and Yuehai Investment (00270) lead the market with 55.07%, 54.09%, and 53.58% respectively [1] Group 2 - The top ten stocks with the highest net inflow include Yingfu Fund (02800) at 6.292 billion, Hang Seng China Enterprises (02828) at 1.618 billion, and Southern Hang Seng Technology (03033) at 0.956 billion [2] - The top ten stocks with the highest net outflow include China Mobile (00941) at -0.289 billion, Jitu Express-W (01519) at -0.185 billion, and Horizon Robotics-W (09660) at -0.152 billion [2] - The top three stocks with the highest net inflow ratio are Anjii Food (02648) at 55.07%, Pacific Shipping (02343) at 54.09%, and Yuehai Investment (00270) at 53.58% [3]