Market Overview - The AI and robotics sectors experienced a strong rally, with the Huaxia Sci-Tech AI ETF (589010) closing up 1.20% and a 5-day increase of 6.14% [1] - Among the 30 component stocks, 28 saw gains, with Lanke Technology leading at 4.56% and Stone Technology rising 4.03% [1] - The Robotics ETF (562500) rose by 2.13%, with a significant increase in trading volume, totaling 1.695 billion yuan [1] - The latest scale of the Robotics ETF reached 17.078 billion yuan, setting a new record [1] Key Developments - The Zhiyuan Expedition A2 humanoid robot successfully completed a 24-hour live stream challenge in high temperatures, marking a global first for autonomous long-duration walking in such conditions [2] - The Shenzhou 20 crew utilized the "Wukong AI" model during a 6.5-hour extravehicular activity, enhancing operational support for astronauts [2] - The "Embodied Tiangong Ultra" robot won the championship in the 100-meter sprint at the first humanoid robot sports event, clocking in at 21.50 seconds [2] Institutional Insights - Guojin Securities anticipates a surge in applications for robots with simple movements but high flexibility in the third and fourth quarters of this year, with a gradual increase in efficiency expected through data and model optimization [3] - The logistics, apparel, and healthcare sectors are seeing increased participation from application enterprises, supported by favorable policies [3] Popular ETFs - The Robotics ETF (562500) is the only fund in the market with a scale exceeding 10 billion yuan, offering the best liquidity and comprehensive coverage of the Chinese robotics industry [4] - The Huaxia Sci-Tech AI ETF (589010) is positioned as the brain of robotics, capturing the "singularity moment" in the AI industry with a 20% fluctuation range and small-cap elasticity [4]

Group 1: Industry Integration - The emphasis on deep integration of technological innovation and industrial innovation is highlighted, showcasing the importance of aligning technological advancements with industry needs to achieve value enhancement from "technological breakthroughs" to "industrial value addition" [2][3] - The success of Suzhou Green's harmonic drive technology, which has broken foreign monopolies, exemplifies the vitality of the integration between the innovation chain and the industrial chain, contributing to high-quality development [2] - The development of high-temperature alloy materials by China Steel Research, utilizing AI to significantly reduce R&D time, demonstrates the potential of innovative approaches in enhancing industrial capabilities [3] Group 2: Market Integration - The push for a unified national market aims to optimize market competition and eliminate barriers to resource flow, enhancing the resilience and vitality of the Chinese economy [7][8] - The establishment of a national unified market construction guideline aims to create a fair competitive environment by regulating local government behaviors and preventing excessive competition [11] - The improvement of logistics and transportation infrastructure, such as the reduction of transportation costs by 30% and time efficiency by 35%, facilitates smoother market connections across regions [9][10] Group 3: Internal and External Trade Integration - The integration of internal and external trade is crucial for constructing a new development pattern and promoting high-quality growth, as demonstrated by the expansion of Spring Snow Food Group's market share both domestically and internationally [12][13] - The establishment of Hainan Free Trade Port is set to enhance the connection between domestic and international markets, attracting global resources and facilitating trade [14] - Continuous efforts to improve the investment environment and streamline foreign investment processes are aimed at stabilizing and enhancing the quality of foreign investment in China [16]

Core Insights - The company, Greentech Harmonic (688017), reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 251 million yuan, up 45.82% year-on-year, and net profit of 53.42 million yuan, also up 45.87% [1] Financial Performance - Total revenue for the second quarter of 2025 was 153 million yuan, reflecting a year-on-year increase of 69.52% [1] - The net profit for the second quarter was 33.17 million yuan, showing a remarkable year-on-year growth of 100.99% [1] - The gross profit margin decreased to 34.77%, down 13.91% year-on-year, while the net profit margin slightly increased to 21.91%, up 1.06% [1] - The company’s total expenses (selling, administrative, and financial) amounted to 18.83 million yuan, accounting for 7.49% of revenue, a decrease of 7.18% year-on-year [1] Balance Sheet Highlights - Accounts receivable increased significantly, with a year-on-year growth of 58.9%, reaching 190 million yuan [1] - Cash and cash equivalents rose to 262 million yuan, up 44.22% year-on-year [1] - Interest-bearing liabilities decreased by 51.01%, totaling 279 million yuan [1] Cash Flow Analysis - Operating cash flow per share increased dramatically to 0.26 yuan, a year-on-year increase of 11984.62% [1] - The net cash flow from operating activities surged by 13026.39%, attributed to increased revenue and corresponding sales collections [18] Investment and Financing Activities - Short-term borrowings saw a significant increase of 259.36%, indicating a rise in short-term bank loans [4] - The company’s investment activities generated a negative cash flow change of 121.88%, primarily due to increased cash outflows for purchasing financial products [19] Market Position and Outlook - The company’s performance is bolstered by a recovery in the robotics industry, with sales of harmonic reducers and mechatronic actuators driving growth [12] - Analysts project the company’s net profit for 2025 to reach 85.33 million yuan, with an expected earnings per share of 0.47 yuan [23]

Core Viewpoint - The company, Suzhou Green Harmonic Drive Technology Co., Ltd., reported significant growth in its first half of 2025, with a revenue of 251 million yuan, a year-on-year increase of 45.82%, and a net profit of 53.42 million yuan, also up by 45.87% [1] Group 1: Financial Performance - The company achieved a revenue of 251 million yuan in the first half of 2025, marking a 45.82% increase year-on-year [1] - The net profit attributable to shareholders reached 53.42 million yuan, reflecting a 45.87% growth compared to the previous year [1] Group 2: Business Development - The company benefited from a favorable environment in the robotics industry, leading to improvements in both business scale and profitability [1] - Core products, particularly electromechanical integration products, generated revenue of 41.64 million yuan, a 69.66% increase year-on-year, significantly contributing to the growth of core component shipments [1] Group 3: Industry Trends - The industrial robot sector saw a 35.6% year-on-year increase in production in the first half of 2025, providing additional growth support for the company's core business [1] - The harmonic reducer industry is experiencing rapid growth, driven by policy support and demand from core downstream industries [2] Group 4: R&D and Innovation - The company is actively advancing the development and commercialization of products in the embodied intelligent robot sector, with some leading manufacturers entering small-batch trial production [2] - The R&D team has expanded to 149 members, and the company holds a total of 214 domestic patents and 6 foreign patents, enhancing its technological capabilities [2] Group 5: Future Outlook - The company is focusing on the construction of a new generation of precision transmission device intelligent manufacturing project, aimed at expanding the production capacity of precision harmonic reducers and planetary roller screws [3] - The harmonic reducer industry is expected to maintain steady growth, driven by the continuous development of enterprises and the sustained high demand from downstream industries [3]

Group 1 - Green Harmony (688017.SH) released its semi-annual report for 2025 on August 16, 2025, showing that as of August 15, 2025, 29 institutional investors disclosed holding A-shares, totaling 23.77 million shares, which accounts for 12.98% of the total share capital [1] - The top ten institutional investors include Advanced Manufacturing Industry Investment Fund (Limited Partnership), Hong Kong Central Clearing Limited, and several others, with a combined holding ratio of 12.57%, indicating a decrease of 1.19 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, eight funds increased their holdings compared to the previous period, with a holding increase ratio of 0.59%, including notable funds like E Fund National Robot Industry ETF and Huaxia CSI Robot ETF [2] - Conversely, seven public funds reduced their holdings, with a decrease ratio of 0.50%, including funds such as Penghua Carbon Neutral Theme Mixed A and China Merchants Enterprise Preferred Mixed A [2] - Additionally, ten new public funds were disclosed during this period, while 38 funds that were previously disclosed did not report again [2]

Group 1 - The company reported a revenue of 251 million yuan for the first half of 2025, representing a year-on-year growth of 45.82% [1] - The net profit attributable to shareholders reached 53.42 million yuan, with a year-on-year increase of 45.87% [1] - The non-recurring net profit was 42.48 million yuan, showing a year-on-year growth of 25.09% [1] - The basic earnings per share were 0.2916 yuan [1]

Core Viewpoint - Suzhou Leaderdrive Technology Co., Ltd. reported significant growth in its financial performance for the first half of 2025, with notable increases in revenue and profit compared to the same period last year [1]. Financial Performance - Total assets at the end of the reporting period reached approximately 3.98 billion yuan, an increase of 5.97% from the previous year [1]. - Operating revenue for the period was approximately 251.41 million yuan, reflecting a year-on-year increase of 45.82% [1]. - Total profit amounted to approximately 61.27 million yuan, up 49.80% compared to the same period last year [1]. - Net profit attributable to shareholders was approximately 42.48 million yuan, representing a 25.09% increase from the previous year [1]. Shareholder Information - The total number of shareholders as of the reporting period was 20,794 [1]. - Major shareholders include Zuo Jing with 18.70% and Zuo Yuyu also with 18.70%, indicating a significant concentration of ownership [1][2]. Important Matters - The company reported no significant changes in its operational situation during the reporting period that would impact its future performance [2].

苏州绿的谐波传动科技股份有限公司 2025 年度"提质增效重回报"行动方案半年度评估报告 公司通过聚焦谐波减速器的轻量小型化技术突破，在具身智能机器人领域， 我们紧跟行业从实验室研发向规模化落地的关键转折趋势，积极推进相关产品的 研发与商业化进程。目前，部分头部厂商已进入小批量试生产阶段，我们的相关 产品凭借过硬的品质获得了下游企业的认可，相关收入实现大幅增长，为公司开 辟了新的增长空间。 二、研发投入持续加码，技术实力不断夯实 为巩固技术优势，增强核心竞争力，报告期内公司大幅扩招研发人员，聚焦 核心技术突破与应用场景拓展。一方面，围绕具身智能机器人核心零部件加大研 苏州绿的谐波传动科技股份有限公司（以下简称"公司"）为贯彻落实科创 板上市公司"提质增效重回报"专项行动的倡议，践行以"投资者为本"的发展 理念，提高上市公司质量，树立良好的市场形象，基于对未来发展前景的信心以 及对公司长期投资价值的认可, 为维护全体股东利益，于 2025 年 4 月 30 日披露 了公司《2025 年度"提质增效重回报"行动方案》（以下简称"行动方案"）。2025 年上半年，行动方案主要举措的落实及成效情况具体如下： 2025 ...

（一）实际募集资金额及到账情况 按照中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集 资金管理和使用的监管要求（2022 年修订）》、上海证券交易所《上海证券交易 所科创板上市公司自律监管指引第 1 号——规范运作》（上证发〔2025〕69 号） 的规定，本公司将 2025 年 1-6 月募集资金存放与使用情况作如下专项报告： 一、募集资金基本情况 证券代码：688017 证券简称：绿的谐波 公告编号：2025-033 苏州绿的谐波传动科技股份有限公司 2025 年半年度募集资金存放与实际使用情况的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 1.首次公开发行 经中国证监会证监许可[2020]1650 号《关于同意苏州绿的谐波传动科技股 份有限公司首次公开发行股票注册的批复》文件核准，公司由主承销商国泰君安 证券股份公司采用向战略投资者定向配售、网下向符合条件的投资者询价配售和 网上向持有上海市场非限售 A 股股份和非限售存托凭证市值的社会公众投资者 定价发行相结合的方式发行人民币普通股（A ...

苏州绿的谐波传动科技股份有限公司2025 年半年度报告 公司代码：688017 公司简称：绿的谐波 苏州绿的谐波传动科技股份有限公司 2025 年半年度报告 1 / 194 苏州绿的谐波传动科技股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 重大风险提示 报告期内，不存在对公司生产经营产生实质性影响的特别重大风险。公司已在报告中详细描 述可能存在的相关风险，敬请查阅本报告"第三节 管理层讨论与分析" 之 "四、风险因素"。 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人左昱昱、主管会计工作负责人沈燕及会计机构负责人（会计主管人员）沈燕声 明：保证半年度报告中财务报告的真实、准确、完整。 六、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 十、 是否存在违反规定决策程序对外提供担保的情况 否 无。 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不 ...