行业洞察 从工业场景到多领域渗透，轨道 交通机器人加速智能化落地 企业标签：申昊科技、唐源电气、亿嘉和 机器人变革工业场景创新发展 China Rail Transit Report Industry 中国軌道交通ロボット産業 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另 行标明出处者除外）。未经头豹研究院事先书面许可，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改 编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究院保留采取法律措施、追究相关人员责任的权利。头豹 研究院开展的所有商业活动均使用"头豹研究院"或"头豹"的商号、商标，头豹研究院无任何前述名称之外的其他分支机构 ，也未授权或聘用其他任何第三方代表头豹研究院开展商业活动。 报告提供的任何内容（包括但不限于数据、文字、图表、图像等）均系头豹研究院独有的高度机密性文件（在报告中另 行标明出处者除外）。未经头豹研究院事先书面许可，任何人不得以任何方式擅自复制、再造、传播、出版、引用、改 编、汇编本报告内容，若有违反上述约定的行为发生，头豹研究院保留采取法律措施、追究相关人员责任的 ...

（文章来源：证券日报） 证券日报网2月5日讯 ，亿嘉和在接受调研者提问时表示，公司大部分零部件均已实现了国产化，尤其 是核心器件，基本上均为国产化器件。公司从机器人商业化落地的核心痛点出发，针对行业内部分关键 的零部件和技术进行布局，通过自主研发与创新，逐步构建起公司竞争力的护城河。 ...

（文章来源：证券日报） 证券日报网2月5日讯 ，亿嘉和在接受调研者提问时表示，目前公司的海外业务主要涉及商用清洁机器 人产品，该产品在海外市场的销售主要采用经销商的模式，即通过与第三方经销商合作，将产品销往海 外终端客户。公司根据不同目标市场的贸易政策、市场竞争格局、场景面积及服务半径等因素，灵活构 建多级经销或分销体系，通过赋能本地合作伙伴，包括提供产品培训、技术支持与市场协作等。未来， 公司也将持续关注各区域市场动态，优化渠道结构，提升海外业务的可持续经营能力。 ...

（文章来源：证券日报） 证券日报网2月5日讯 ，亿嘉和在接受调研者提问时表示，公司在降本增效方面围绕"成本、效率、质 量、利润"四大核心导向，系统地推进管理优化与运营提升。公司通过持续优化管理和资源配置，加强 重点业务的投入管控；同时完善内部协作机制，致力于提升运营效率。公司重视质量体系建设，强化全 过程质量控制。在效益管理方面，逐步建立以业务单元为核心的考核机制，推动专业化发展与资源协 同。未来，公司将根据实际情况稳步推进相关措施，持续提升经营质量。 ...

证券日报网2月5日讯 ，亿嘉和在接受调研者提问时表示，公司围绕"具身智能+行业应用"战略布局，持 续推动具身智能技术在实际场景中的落地并创造应用价值。电网是公司的核心业务之一，经过多年发 展，电网智能化程度不断提升，但从整体看，电网智能化建设仍然具有很大的市场空间，未来仍是电网 建设持续投入的趋势和方向。另外，针对公司前期已拓展的非电网行业业务，公司也正在积极探索可持 续发展的业务模式。当前公司整体生产经营情况稳定，并持续动态优化资源配置与成本管理。具体业绩 表现请以公司正式披露的定期报告及相关公告为准。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网2月5日讯 ，亿嘉和在接受调研者提问时表示，在研发投入方面，公司坚持以技术创新为核 心战略，聚焦行业前沿技术在机器人领域的应用与突破，围绕智能感知、运动控制、系统集成及场景适 配等方向开展研发工作，旨在提升产品综合性能与用户体验。公司高度重视技术人才体系建设，通过引 入行业内具备丰富经验的研发骨干及专业人才，不断优化团队结构、增强技术实力。公司建立了具有市 场竞争力的薪酬体系与职业发展通道，并通过员工持股计划、长效考核激励、系统化培训机制等综合措 施，激发团队创新活力与凝聚力，支持公司可持续发展。截至2025年6月30日，公司本科及以上学历人 员占比超过77%，研发团队专业覆盖计算机科学、人工智能、机器人技术、电子信息、精密制造等多个 关键领域，为公司的持续发展奠定了扎实的人才基础。近年来，公司研发投入始终保持较高水平，但技 术研发具有周期长、投入大、不确定性较高的特点，研发成果的转化及应用效果可能受技术路线、行业 政策、市场环境等多重因素影响。公司将坚持科学评估、动态调整，在保持技术先进性的同时，注重研 发效益与经营质量的平衡，保持技术迭代与产品创新的竞争力。 ...

Core Viewpoint - The low-altitude economy sector is showing mixed results for 2025, with 22 companies expected to be profitable while another 22 are projected to incur losses, indicating a significant divergence in performance within the industry [3]. Performance Forecast Summary Profit Growth - 11 companies are expected to report profit increases, with notable projections including: - Xinzhi Group (002664.SZ) and Shangluo Electronics (300975.SZ) anticipating several-fold increases in net profit [4]. - Weihai Guangtai (002111.SZ), Tongyu Heavy Industry (300185.SZ), and Guangyang Co. (002708.SZ) expecting over 50% growth in net profit [4]. - Wan Feng Aowei (002085.SZ) and Zongshen Power (001696.SZ) also forecasted net profit growth [4]. Losses - 22 companies are projected to incur losses, with several notable cases: - Zhongtian Rocket (003009.SZ) and Andavil (300719.SZ) have shifted from profit to loss [7]. - Haige Communication (002465.SZ) is investing heavily in R&D, leading to increased costs and a projected loss [7]. - Companies like Aerospace Power (600343.SH) and Sihua Electronics (600990.SH) are also expected to continue reporting losses [8]. Industry Insights - The low-altitude economy's contribution to overall profits remains limited, with most revenue still coming from aircraft manufacturing and infrastructure construction [3]. - Companies like Wan Feng Aowei are leveraging their low-altitude business to drive profit growth, supported by strong orders in general aviation aircraft manufacturing and strategic acquisitions [5]. - The industry is witnessing a shift towards commercial applications of low-altitude technologies, with companies preparing for a significant commercialization phase in 2026 [9][10]. Strategic Developments - Companies are increasingly focusing on integrating low-altitude infrastructure and management platforms, as seen with Suzhou Keda's strategic investments in civil aviation infrastructure [11]. - The emphasis on R&D and market expansion in emerging fields like low-altitude economy is evident, with companies aiming to enhance their competitive edge through innovative solutions [7][11].

Group 1 - Tianqi Co., Ltd. has entered the brain-computer interface (BCI) sector by investing in Suzhou Huahui Chip, focusing on high-density flexible neural electrode technology, achieving animal testing stages, and becoming a key player in domestic BCI hardware localization. The developed flexible neural electrode has 1024 channels, with signal acquisition precision and anti-interference capabilities at an internationally advanced level. The company has also completed biocompatibility surface modification technology to reduce inflammation after electrode implantation, with core patents authorized by the National Intellectual Property Administration [1][2][3] - Innovation Medical, through its subsidiary Boling Brain Machine, is one of the first companies in China to commercialize BCI rehabilitation products. The core product, Cyberlink AC5, was officially launched in October 2025, generating sales revenue of 114,000 yuan in 2025. Another product, Cyberlink AM5, has completed multi-center clinical trials and is progressing through the approval process. The company plans to establish five additional clinical cooperation centers to accelerate the application of BCI technology in treating neurological diseases [4][5][6] - iFlytek is a leading company in the non-invasive BCI field, leveraging its artificial intelligence technology to develop BCI collaborative technology. The company has established long-term partnerships with universities for research and development. Its non-invasive BCI system has been piloted in 120 schools nationwide, improving student attention by 30%. In the medical field, a collaboration with Beijing Tiantan Hospital has achieved a 92% accuracy rate in identifying abnormal brain signals for epilepsy [7][8][9] Group 2 - Jiahe Intelligent focuses on the research and mass production of BCI hardware, particularly EEG acquisition devices and core components, serving both consumer and medical-grade markets. The company has achieved large-scale production of EEG acquisition headphones with a signal recognition accuracy of 92%, primarily used in sleep monitoring and attention training. It plans to expand into overseas BCI hardware markets by 2026 [10][11][12] - Tom Cat is the first company in China to apply BCI technology in consumer scenarios, focusing on interactive games and rehabilitation training products. The company launched a mind-controlled game product in 2025, which quickly gained over 500,000 users. It also collaborates with rehabilitation institutions to develop BCI rehabilitation training systems, showing a 35% average improvement in patient motor function scores [13][14][15] - Hanwei Technology, through its subsidiary Weisheng Technology, is a leading company in the EEG sensor field, with an annual shipment of over 2 million units. The company has developed an epilepsy early warning system with an 88% accuracy rate in clinical tests. It also focuses on flexible pressure sensors for invasive BCI electrodes, addressing industry pain points [16][17][18] Group 3 - StarNet Ruijie leverages its network communication technology to develop low-power, high-stability EEG signal transmission systems and data encryption modules, becoming a core supplier for BCI data links. The developed transmission system supports real-time transmission of 1024-channel EEG signals with a latency of less than 10ms and a stability of 99.9% [19][20][21] - Yijiahe focuses on the integration of BCI and embodied intelligent robots, exploring applications in smart healthcare. The company has signed a strategic cooperation agreement to develop real-time emotional companionship and brain-controlled robots, enhancing the emotional care capabilities of robots [22][23][24] - Lihua Technology is focused on incubating and investing in the BCI sector, successfully incubating three high-tech companies in the field. The company collaborates with the Shenzhen Institute of Advanced Technology to provide comprehensive services for incubated companies, addressing development pain points [25][26][27] Group 4 - Sanbo Neurosurgery is a leading private hospital in the neurosurgery field, focusing on the clinical application and research of BCI. The company has successfully conducted an interventional BCI surgery, accumulating valuable experience for clinical applications. It is also recruiting participants for ongoing clinical trials [28][29][30] - Shiyun Circuit is a core enterprise in the PCB field, providing customized PCB products for BCI devices. The company focuses on high-density, flexible PCB designs, achieving low signal loss rates below 2% [31][32][33] - Meihua Medical is a leading supplier of core components for BCI, having entered the core supply chain for invasive BCI products. The company has developed components that have passed biocompatibility tests, ensuring long-term stability and safety for implanted devices [34][35][36]

证券之星消息，1月27日自动化设备板块较上一交易日上涨1.37%，凯迪股份领涨。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。自动化设备板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 605288 | 凯迪股份 | 131.42 | 10.00% | 1.22万 | | 1.54亿 | | 300486 | 东杰智能 | 23.76 | 9.90% | 50.70万 | | 11.69亿 | | 688017 | 绿的谐波 | 221.00 | 8.12% | 12.56万 | | 26.58亿 | | 300461 | 田中精机 | 34.82 | 7.74% | 1 25.64万 | | 8.70亿 | | 603666 | 亿嘉和 | 33.89 | 4.76% | 12.58万 | | 4.19亿 | | 002008 | 大族激光 | 53.38 | 4.71% | 43.05万 | | 22.5 ...

Group 1 - The A-share market saw a strong performance in DeepSeek concept stocks, with notable gains from companies such as Kaipu Cloud, which rose nearly 13%, and Huapei Power, which hit the daily limit with a 10% increase [1][2] - DeepSeek released a new model called DeepSeek-OCR 2, utilizing the innovative DeepEncoder V2 method, allowing AI to dynamically rearrange image components based on their meaning rather than scanning mechanically from left to right [1] - The new model outperformed traditional visual-language models in processing complex layouts, such as documents or charts, demonstrating enhanced intelligence and causal reasoning capabilities in visual understanding [1] Group 2 - Kaipu Cloud's market capitalization reached 18.4 billion, with a year-to-date increase of 39.76% [2] - Huapei Power's market capitalization is 8.186 billion, with a year-to-date increase of 14.27% [2] - Chipong Micro's market capitalization stands at 9.257 billion, with a year-to-date increase of 15.76% [2]