每经AI快讯，中信建投（601066）表示，人形机器人落地是硬道理，重视应用场景落地和精度传感 器。当前板块估值反映市场较高的出货预期，但2025年全球出货量预计仅1-2万台。我们认为当前板块 核心矛盾不在于硬件方案的迭代降本，而在于1)应用场景的实际落地，2)大模型的突破，3)关键感知零 部件的升级。我们认为板块估值锚点已切换至落地兑现，市场预期和产业进展仍有兑现差，关注刚需 性、低复杂度的场景下的实际落地情况。 ...

Core Viewpoint - The importance of overseas expansion for Chinese motorcycle companies is emphasized, with a focus on increasing market share in international markets [1] Group 1: Market Strategy - Chinese motorcycle companies are actively expanding overseas, with a significant increase in market share [1] - The high cost-performance ratio of certain models, such as scooters and ADV models, has proven effective in quickly capturing market share [1] - There is potential for price competition in cruiser and sportbike segments, which have not yet initiated such strategies [1] Group 2: Market Potential - Chinese companies have different strategic focuses and competitive stages in various key markets [1] - In the medium to long term, as the product matrix of Chinese companies improves, they can leverage cost-performance advantages to capture market share [1] - A single Chinese brand could achieve annual sales of 150,000 to 200,000 units in the European and American markets, and approximately 700,000 and 600,000 units in Latin America and ASEAN markets, respectively [1]

人民财讯8月7日电，中信建投（601066）认为，在全球矿山行业资本开支上行趋势下，矿山机械行业景 气度提升，海外矿机公司营收、订单延续高位水平。在千亿美元大市场的孕育下，已诞生卡特彼勒、小 松等营收百亿美元的矿机公司。在此背景下，我国矿机公司加速追赶，通过服务团队出海、配套仓储物 流出海、产能出海等方式积极响应矿山资本开支上行浪潮，凭借自身产品竞争力的不断提升加速获取海 外市场份额，打破由于国内矿山资源禀赋有限所带来的发展瓶颈，在原本海外矿机垄断的高端市场中占 据一席之地。远期展望，矿山机械出海方兴未艾，在充足市场空间的支撑下，我国矿机公司有望向海外 矿机公司规模看齐，实现快速增长。 ...

Core Viewpoint - The humanoid robot sector is experiencing a recovery in sentiment due to significant changes in both domestic and international robot industry chains, following a period of substantial pullback [1] Domestic Industry Developments - Domestic manufacturers of humanoid robots are continuously securing order breakthroughs, indicating that commercialization efforts are gradually moving towards practical implementation [1] - Yuzhu has completed its IPO counseling filing, and leading domestic robot manufacturers are accelerating their capitalization processes, which is expected to attract widespread attention and further increase capital expenditure across the industry [1] International Industry Developments - Tesla's humanoid robot is still undergoing continuous optimization, and domestic supply chain companies are also releasing positive signals [1] Future Catalysts - Upcoming major events such as the 2025 World Artificial Intelligence Conference, the 2025 World Robot Conference, and the 2025 World Humanoid Robot Games are anticipated to provide ongoing catalysts for the sector [1] Investment Opportunities - The company suggests focusing on "AI + robotics" investment opportunities beyond just humanoid robots, including areas such as sensors, dexterous hands, robotic dogs, exoskeleton robots, and vertical applications, which have favorable competitive landscapes and do not necessarily depend on the volume growth of humanoid robots for validation [1]

人民财讯8月7日电，中信建投（601066）研报称，2025年7月底以来，我国GW星座发射频率显著提 升，从01—05组星的一到两个月发射间隔缩短到05—07组星的3—5天发射间隔，组网速度明显加快，或 表明我国卫星互联网开始进入快速组网期。此外，千帆星座的发射招标也已经启动，海南商发的1号和2 号发射工位开启常态化发射工作，大型民营液体火箭也将陆续首飞，可重复使用实验稳步开展，以蓝箭 航天为代表的民营火箭企业开始IPO辅导，我国商业航天产业进入快速发展期。 ...

Core Viewpoint - The frequency of satellite launches in China has significantly increased since the end of July 2025, indicating a rapid development phase in the country's satellite internet network [1] Group 1: Launch Frequency and Network Development - The launch interval for the first five groups of satellites has decreased from one to two months to just three to five days for the fifth to seventh groups, showcasing an accelerated network deployment [1] - The initiation of the Qianfan satellite constellation launch bidding has begun, further contributing to the rapid development of satellite networks [1] Group 2: Commercial Space Industry Growth - Hainan Commercial Launch's launch sites 1 and 2 have commenced regular launch operations, indicating a shift towards more consistent launch schedules [1] - The first flights of large private liquid rockets are expected to occur soon, and reusable rocket experiments are progressing steadily [1] - Private rocket companies are beginning IPO counseling, marking a significant step in the commercialization of the space industry in China [1]

在日前举办的2025世界机器人大会新闻发布会上，中国电子学会副理事长兼秘书长陈英表示，本次大会 汇聚库卡、费斯托、埃斯顿（002747）、宇树科技、银河通用等200余家国内外优秀机器人企业的1500 余件展品，其中首发新品100余款。有50家人形机器人整机企业将带来最新展品及行业解决方案，人形 机器人整机企业参展数量创同类展会之最。 北京市经济和信息化局局长姜广智在今年5月举行的2025世界机器人大会、2025世界人形机器人运动会 新闻发布会上介绍了世界人形机器人运动会的举办情况。他表示，世界人形机器人运动会是全球首个为 人形机器人组织的综合性竞技赛事，将于8月15日至17日在国家体育场和国家速滑馆举办。竞赛项目分 为主体赛事和外围赛事，主体赛事侧重人形机器人技能竞技，包括田径、足球、舞蹈以及物料搬运、药 品分拣等；外围赛事侧重趣味性和观众的互动性，包括羽毛球、乒乓球、篮球等。 开源证券机械首席分析师孟鹏飞表示，2025世界人工智能大会上人形机器人首次突破150台设备同台展 示，覆盖工业、服务、医疗等场景；工信部会上宣布将深入实施"AI+"行动。若后续产业支持和补贴政 策落地，我国有应用场景和全产业链的优势， ...

证券日报网讯 8月6日晚间，欣贺股份发布公告称，中信建投作为公司首次公开发行股票并上市的保荐 机构，原指派陈嘉辉先生、罗贵均先生担任公司保荐代表人。原保荐代表人罗贵均先生因个人工作调动 原因离职，中信建投现指派钟俊先生接替其担任公司首次公开发行股票项目的保荐代表人，继续履行相 关职责。 （文章来源：证券日报） ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 中信建投证券(06066)公布，中信建投证券股份有限公司面向专业投资者公开发行 2023 年次级债券(第四 期)(品种一)，将于 2025 年 8 月 15 日开始支付自 2024 年 8 月 15 日至 2025 年 8 月 14 日期间的利息和本 期债券本金并摘牌。 本期债券简称"23 信投 C7"，发行总额人民币 10 亿元，票面利率(计息年利率)为 2.75%，每手本期债券 兑付本金为 1000 元，派发利息为 27.5 元(含税)。 ...

中信建投（601066）证券(06066)公布，中信建投证券股份有限公司面向专业投资者公开发行 2023 年次 级债券(第四期)(品种二)，将于 2025 年 8 月 15 日开始支付自 2024 年 8 月 15 日至 2025 年 8 月 14 日期 间的利息。 本期债券简称"23 信投 C8"，发行总额25 亿元，票面利率(计息年利率)为 3.00%，每手本期债券面值为 1000 元，派发利息为 30 元(含税)。 ...