Group 1 - The National Robot Industry Index fell by 2.1%, the China Securities Intelligent Electric Vehicle Index decreased by 2.0%, the China Securities Consumer Electronics Theme Index dropped by 2.2%, and the China Securities Internet of Things Theme Index declined by 1.3% [1] - The robot ETF E Fund (159530) saw a net subscription of over 60 million units in half a day [1] - Zhejiang University Hangzhou International Science and Technology Innovation Center, in collaboration with Jingzhi Technology and Kairda Group, launched the first full-size humanoid robot "Bolt" with a peak speed of 10 meters per second, marking a breakthrough in high-speed movement and control of humanoid robots in China [1]

Group 1: Agricultural and Rural Development - The 2026 Central Document emphasizes modernizing agriculture and rural areas, aiming for comprehensive rural revitalization as a primary focus [2] - It highlights the importance of enhancing agricultural policies, ensuring food security, and improving rural living conditions to support China's modernization [2] Group 2: State-Owned Enterprises and Innovation - The State-owned Assets Supervision and Administration Commission (SASAC) is pushing for the development of strategic emerging industries and the transformation of traditional industries [3] - There is a focus on fostering technology-driven enterprises and enhancing collaboration between state-owned enterprises and research institutions to drive innovation [3] Group 3: Energy and Fuel Prices - Starting February 3, domestic gasoline and diesel retail prices will increase by 205 yuan and 195 yuan per ton, respectively, leading to an increase of 0.16 yuan per liter for 92-octane gasoline [4] Group 4: Technological Advancements and Investments - Shanghai is prioritizing the development of future industries such as brain-computer interfaces and fourth-generation semiconductors [5] - The Beijing Humanoid Robot Innovation Center has secured over 700 million yuan in market financing, marking a significant step towards market operation and industrialization [5] Group 5: Robotics and AI Innovations - Zhejiang University has launched the Bolt humanoid robot, which is currently the fastest in the world, capable of running at 10 meters per second [6] - A new AI-assisted puncture navigation robot has received approval for market entry, showcasing advancements in AI technology for clinical applications [6] Group 6: Market Movements and Stock Performance - The South Korean stock market experienced significant volatility, with the composite index dropping over 5% before rebounding and triggering a trading halt [9] - Major indices in the US and A-shares showed positive performance, with the Dow Jones increasing by 1.05% and the Shanghai Composite Index rising by 1.29% [14][15] Group 7: Semiconductor Industry Developments - Samsung and SK Hynix are planning to expand their advanced NAND flash memory production capacity, with Samsung discussing a monthly investment of 40,000 to 50,000 wafers [10] - Samsung Electro-Mechanics is advancing its semiconductor glass substrate project, aiming for commercialization by 2027 [11] Group 8: Corporate Mergers and Strategic Moves - Elon Musk announced the merger of SpaceX and xAI to create a space-based data center, emphasizing the need for AI infrastructure in space to meet growing energy demands [12]

Group 1 - The Zhejiang University Hangzhou International Science and Technology Innovation Center, in collaboration with Jingzhi Technology and Kaierda Group, has officially launched the world's first full-size humanoid robot "Bolt," which achieves a peak speed of 10 meters per second, marking a breakthrough in high-speed movement and control in humanoid robotics [1] - "Bolt," named after the famous sprinter Usain Bolt, stands 175 centimeters tall and weighs 75 kilograms, showcasing the team's exploration of the "ideal form" for future humanoid robots. Innovations in joint design and a multidimensional power system have systematically enhanced the robot's explosive movement, dynamic balance, and agility, laying the technical foundation to approach or even surpass human athletic capabilities [1] - The development team envisions "Bolt" as an "intelligent training partner" for Chinese athletes, providing realistic speed competition to help athletes break training bottlenecks, while promoting the deep integration of technology and sports, injecting new momentum into China's sports industry [1] Group 2 - The humanoid robot innovation research institute at the Science and Technology Innovation Center, co-established by Jingzhi Technology and Kaierda Group, exemplifies effective resource allocation under the dual drive of technological and industrial innovation. This collaborative model accelerates breakthroughs and transformations in key humanoid robot technologies, providing a replicable paradigm for the development of intelligent manufacturing and high-end equipment in China [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its stock performance relative to the market over the next six months [6]. Core Insights - The company, Jingzhi Technology, has launched the Apollo industrial robotic dog, targeting industrial applications, with a closer collaboration with its partner, Kaierda, in manufacturing [4][7]. - The company has introduced various robotic products, including industrial four-legged robots and consumer-grade robots, with the latter aimed at emotional companionship and smart interaction [7]. - The report highlights the company's competitive advantages, including high power density drivers, optimized design software, and customized solutions, which create a dual competitive edge of "technical barriers and rapid deployment" [7]. Financial Data and Profit Forecast - Total revenue projections for the company are as follows: - 2024: 557 million - 2025: 625 million - 2026: 754 million - 2027: 904 million - The year-on-year growth rates for total revenue are projected at 15.7% for 2024, 11.7% for 2025, 20.6% for 2026, and 19.9% for 2027 [6][8]. - The net profit attributable to the parent company is forecasted to be: - 2025: 25 million - 2026: 45 million - 2027: 63 million - The corresponding price-to-earnings ratios (PE) are expected to be 159 for 2025, 88 for 2026, and 62 for 2027, indicating a lower valuation compared to comparable companies in the robotics sector [6][7].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company is involved in the production of industrial robots, specifically through its partnership with JingShi Technology, which has launched the Apollo robotic dog aimed at industrial applications [4] - The company has a strong focus on automation and has established a smart factory to support the assembly of JingShi's products, enhancing production capabilities [7] - The report highlights the competitive advantages of JingShi, including high power density drivers, optimized design software, and customized solutions, which create a dual competitive edge of "technical barriers + rapid implementation" [7] Financial Summary - Projected total revenue for 2024 is 557 million, with a year-on-year growth rate of 15.7%, and expected to reach 904 million by 2027 [6] - The net profit attributable to the parent company is forecasted to be 31 million in 2024, with a significant increase to 63 million by 2027, reflecting a growth rate of 41.9% [6] - The company's gross margin is expected to improve from 20.4% in 2024 to 22.7% in 2027, indicating enhanced profitability [6] Sales and Market Position - The company experienced a decline in industrial robot sales in the first half of 2025, but a recovery is anticipated in the third quarter, with a year-on-year sales increase of 16.52% for the first three quarters [7] - The company is positioned in the mid-to-high-end market for welding robots, with leading technical specifications and pricing, contributing to an increase in market share [7] Profitability Forecast - The report adjusts the profit forecast for 2025-2027, estimating net profits of 0.25 billion, 0.45 billion, and 0.63 billion respectively, with corresponding price-to-earnings ratios of 159, 88, and 62 [7] - The company's PE level is noted to be below the average of comparable companies in the robotics sector, which is projected at 162 [7]

此次合作直击具身智能产业"技术与制造脱节"的核心痛点，实现资源互补与效率最大化。阿波罗系列的推出，为多行业提 供智能升级方案；联合制造模式则为行业提供了可复制的协同范本。 作为发布会的核心亮点，科创中心人形机器人创新研究院院长、镜识科技创始人王宏涛教授详解了阿波罗系列的技术革新 与产业价值。依托镜识科技在控制领域的长期积淀，阿波罗实现三大核心突破：感知层面搭载多模态融合系统，集成激光雷 达、热成像等传感器，精准应对复杂环境；运动控制采用模块化架构，四足形态可连续攀爬20cm台阶、穿越乱石堆，机身达到 IP67全面防水，轮足式型号兼顾高速移动与70kg负重，空载续航超6小时；应用端支持外设模块化接入，灵活适配电力巡检、 工厂作业、高危应急等核心场景，构建"感知-决策-执行"全链路智能闭环。 "阿波罗不是单纯的技术堆叠，而是针对工业痛点的标准化解决方案。"王宏涛表示，镜识科技通过算法优化与硬件创新， 让机器人从"实验室样机"升级为"工业级可靠产品"，这是具身智能产业落地的核心探索。 凯尔达副总经理魏秀权在分享中阐述了"凯尔达智造"体系对具身智能产业化的支撑力。凯尔达凭借完善的产业链布局、精 益生产体系与全流程品控 ...

人机交互方面，"阿波罗"支持远程遥操作等多种协同模式。从应用场景来看，"阿波罗"目前已完成电力 巡检、工厂作业、高危应急等核心场景的适配测试，形成"感知-决策-执行"的全链路作业闭环。 制造与研发协同推进产业化应用 凯尔达相关负责人表示，公司与镜识科技合作始于2023年共同参与的工业和信息化部"电机驱动器"揭榜 挂帅课题，部分研发成果已应用于镜识科技产品。公开信息显示，凯尔达已于2024年6月完成对镜识科 技的战略投资。 此次联合发布及深度合作协议的签署，是双方前期投资合作的进一步深化。"镜识科技输出智能控制技 术与创新设计，凯尔达提供高端制造产能与产业链资源，形成'技术迭代-制造验证-市场反馈-产品优 化'的闭环生态。"上述负责人表示。 中证报中证网讯(记者罗京)1月22日，镜识科技(上海)有限公司与杭州凯尔达焊接机器人股份有限公司在 凯尔达智能制造基地联合举办发布会，推出新一代工业级四足机器人"阿波罗"，并签署合作协议，双方 围绕规模化制造展开全面合作。 镜识科技表示，此次合作直击具身智能产业"技术与制造脱节"的核心痛点，实现资源互补与效率最大 化。未来，双方将深化具身智能装备合作，拓展定制化场景解决方案 ...

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。 项目质量控制复核人：胡福健，拥有注册会计师执业资质。2014年起成为注册会计师，2012年开始从事 上市公司审计，2014年开始在天健执业；近三年签署或复核2家上市公司审计报告。 杭州凯尔达焊接机器人股份有限公司（以下简称"公司"）于2025年4月23日召开第四届董事会第六次会 议，于2025年5月19日召开2024年年度股东大会，审议通过了《关于续聘2025年度财务及内部控制审计 机构的议案》，同意公司续聘天健会计师事务所（特殊普通合伙）（以下简称"天健"）为公司2025年度 审计机构，具体内容详见公司于2025年4月25日在上海证券交易所网站（www.sse.com.cn）披露的《关 于续聘2025年度财务及内部控制审计机构的公告》（公告编号：2025-012）。 公司于近日收到天健通知，因原项目质量控制复核人工作调整，变更了项目质量控制复核人。现将具体 情况公告如下： 一、本次项目质量控制复核人变更情况 天健作为公司2025年度审计机构，原指派费方华为项目质量控制复核人 ...

Core Viewpoint - Kailda announced the appointment of Tianjian as the auditing firm for the company's 2025 fiscal year, with a change in the quality control reviewer from Fei Fanghua to Hu Fujian due to work adjustments [2] Group 1 - Kailda has appointed Tianjian as the auditing institution for the fiscal year 2025 [2] - The original quality control reviewer, Fei Fanghua, will be replaced by Hu Fujian for the auditing project [2]

格隆汇1月22日丨凯尔达(688255.SH)在互动平台表示，近年来公司充分发挥自身优势，积极布局国内外 市场，大力开拓细分市场和增量市场，不断拓宽业务领域和客户群体。目前，公司已有部分产品向部分 欧盟国家出口。 ...