Group 1: ETF Performance - The liquidity of the Robot ETF managed by Jiashi has a turnover rate of 4.78%, with a transaction volume of 27.72 million yuan [2] - Over the past six months, the Robot ETF has seen a scale increase of 343 million yuan and a share increase of 260 million shares [2] - As of July 23, the net value of the Robot ETF has risen by 49.02% over the past year, ranking 417 out of 2936 in the index stock fund category, placing it in the top 14.20% [2] Group 2: Top Holdings - As of June 30, 2025, the top ten weighted stocks in the CSI Robot Index include Huichuan Technology, iFlytek, Stone Technology, Dahua Technology, Zhongkong Technology, Shuanghuan Transmission, Robot, Han's Laser, Julun Intelligent, and Tuobang Technology, collectively accounting for 49.58% of the index [2] Group 3: Industry Trends - The humanoid robot sector is experiencing increasing momentum, with total financing exceeding 14 billion yuan in the first half of 2025, surpassing the total for the entire previous year [5] - The collaboration among industry chain enterprises is accelerating, with leading companies seeing order fulfillment and increased activity in the financing market, providing support for the humanoid robot sector [5] - There is significant confidence in the future development potential of humanoid robots from policies, capital markets, and industry chain enterprises, leading to a continuous acceleration of the commercialization process [5] Group 4: New Product Launch - On July 23, UBTECH announced the launch of the Walker S2, a full-size industrial humanoid robot designed for smart manufacturing scenarios, featuring the BrainNet 2.0 network and the Co-Agent technology for autonomous and collaborative operation [4]

Core Insights - The medical robotics industry has entered a complex phase by 2025, with evolving product forms, clearer clinical pathways, and a more rational capital environment [1] - The third Global Medical Robotics Conference focuses on the systematic upgrade of intelligent surgical systems, the construction of a full-chain ecosystem, and global pathways [1][2] Event Details - The conference will take place on September 5-6, 2025, at the Beijing Zhongguancun National Independent Innovation Demonstration Zone Exhibition and Trading Center [4] - The agenda includes a variety of topics such as technological systems and intelligent evolution, commercialization and hospital system implementation, and global strategies [5][8][9] Industry Trends - The next-generation surgical robots will emphasize AI integration to enhance autonomy and system collaboration efficiency [7] - The conference aims to redefine how surgical rooms and hospitals can be transformed through robotics [13] Challenges and Opportunities - The event will address challenges in integrating surgical robots with hospital systems and constructing a leading global R&D framework [12] - It will explore the commercialization pathways for surgical robots, including market comparisons and procurement decision-making processes [12] Recognition and Awards - The MedRobot annual awards have become one of the most recognized technology awards in China's medical robotics field, highlighting key players and innovations [16]

Group 1 - The Shanghai Stock Exchange has released the "Self-Regulatory Supervision Guidelines for Companies Listed on the Sci-Tech Innovation Board No. 5 - Sci-Tech Growth Tier" [1] - The reform does not impose additional listing thresholds for unprofitable companies entering the Sci-Tech Growth Tier, allowing 32 existing unprofitable companies to enter immediately upon the guideline's implementation [1] - Newly registered unprofitable companies will enter the Sci-Tech Growth Tier from the date of their listing [1] Group 2 - Investors participating in the subscription and trading of newly registered stocks in the Sci-Tech Growth Tier must sign a "Risk Disclosure Statement for the Sci-Tech Growth Tier" [2] - The 32 existing companies that have not yet removed the "U" designation include: Zejing Pharmaceutical, Junshi Biosciences, Frontier Biotech, Qingyun Technology, Hehui Optoelectronics, Jingjin Electric, BeiGene, Dize Pharmaceutical, Maiwei Biotech, Aojie Technology, Yuhong Pharmaceutical, Shouyao Holdings, Haichuang Pharmaceutical, CloudWalk Technology, Yifang Biotech, Obsidian Optics, Mengke Pharmaceutical, Nuo Cheng Jianhua, Xinke Mobile, Xinghuan Technology, Yutai Micro, Yuntian Lifa, Tianzhihang, Qi Anxin, Hanwujin, Yihua Tong, Aifute, Huizhiwei, Xinlian Integrated, Zhixiang Jintai, Shengke Communication, and Zhongjuxin [2]

Core Viewpoint - The announcement details a change in shareholding for Beijing Tianzhihang Medical Technology Co., Ltd., where a significant shareholder has reduced their stake from 9.66% to 9.00% through a share reduction of 2,989,572 shares, representing 0.66% of the total share capital [1][2]. Group 1: Shareholding Changes - The advanced manufacturing industry investment fund and its action partner, the Beijing-Tianjin-Hebei industrial collaborative development investment fund, have reduced their combined shareholding from 9.66% to 9.00% [1][2]. - The reduction was executed through centralized bidding, and the reduction plan is not yet fully implemented [2][4]. - The shareholding change does not trigger mandatory tender offer obligations [1][2]. Group 2: Shareholder Information - The advanced manufacturing industry investment fund and the Beijing-Tianjin-Hebei industrial collaborative development investment fund are identified as the significant shareholders and action partners [1][3]. - The announcement confirms that the information provided by the shareholders is accurate and complete, with no misleading statements or omissions [1].

证券代码：688277 证券简称：天智航 公告编号：2025-029 北京天智航医疗科技股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性公告 先进制造产业投资基金（有限合伙）及其一致行动人京津冀产业协同发 展投资基金（有限合伙）保证向本公司提供的信息真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息 一致。 重要内容提示： 2.信息披露义务人信息 | 信息披露义务人名称 | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | | | □ 控股股东/实控人 | | | 先进制造产业投资基 | □ 控股股东/实控人的 | ☑ 91310000342453915W | | 金（有限合伙） | 一致行动人 | 不适用 □ | | | 其他直接持股股东 ☑ | | | | □ 控股股东/实控人 | | | | | --- | --- | --- | --- | --- | | 京津冀产业协同发展 | □ | 控股股东/实控人的 | ☑ | 91130600MA0939HK85 | | 投资基金（有限合伙） | ...

Market Overview - On June 23, 2025, the Sci-Tech Innovation Artificial Intelligence ETF (Hua Xia, 589010) closed down 0.72%, with leading declines from Hengxuan Technology down 5.46%, Lanke Technology down 4.36%, and Stone Technology down 3.62% [1] - The Robotics ETF (562500) closed up 0.50%, with East杰智能 leading gains at 10.47%, Tianzhihang up 7.27%, and Kuaike Intelligent up 3.04% [1] - The trading volume for the day was 359 million yuan, making it the most active ETF in its category, indicating good liquidity [1] Key Developments - Huawei and Softcom Power are collaborating to develop humanoid robots for manufacturing scenarios, focusing on general humanoid applications and 3C manufacturing [2] - KPMG's 2025 China Banking Industry Survey Report indicates that the banking sector is leading in the application of large models, with significant efficiency improvements and innovations across various banking operations [2] - Galaxy General announced the completion of a new financing round of 1.1 billion yuan, marking the largest single financing in the field of embodied large model robots, with total financing exceeding 2.4 billion yuan over two years [2] Institutional Insights - China Galaxy Securities states that A-shares are currently at a historical average valuation, relatively low compared to mature overseas markets, suggesting high investment value [3] - The report anticipates a stable upward trend for A-shares in the second half of 2025, driven by policy support and capital inflows, while cautioning about external uncertainties and domestic economic recovery [3] - The focus on technology innovation is highlighted as a core driver for A-share supply-side reform, with recommendations to pay attention to AI computing, AI applications, embodied intelligence, and innovative pharmaceuticals [3] ETF Highlights - The Robotics ETF (562500) is noted as the only ETF in the market with over 10 billion yuan in scale, offering the best liquidity and comprehensive coverage of the Chinese robotics industry [4] - The Sci-Tech Innovation Artificial Intelligence ETF (Hua Xia, 589010) is described as the "brain" of robotics, capturing the "singularity moment" in the AI industry with a 20% fluctuation range and small to mid-cap elasticity [4]

Core Viewpoint - The demand for orthopedic surgeries is increasing due to aging populations and younger patients with orthopedic diseases, driving the need for precision, minimally invasive, and intelligent surgical solutions, which in turn fosters the growth of orthopedic surgical robots [2][7]. Group 1: Company Overview - Beijing Tianzhihang Medical Technology Co., Ltd. (Tianzhihang) is transforming the global orthopedic surgical robot market with its core product, the Tianji orthopedic surgical robot, achieving sub-millimeter precision and completing over 110,000 surgeries across more than 200 hospitals in China [2][4]. - The company adheres to the principle of "original research and innovation," with R&D investment of 117 million yuan in 2024, accounting for 65.34% of its revenue, and employs 123 R&D personnel, making up 40.07% of its workforce [3][4]. Group 2: Product Development - Tianzhihang has introduced multiple generations of its surgical robots, with the Tianji® 1.0 launched in 2016 and the Tianji® 2.0 in 2021, enhancing usability and humanization [4]. - The company has achieved full coverage in three major orthopedic fields: spine, trauma, and joints, with a total of 596 patent applications, including 232 invention patents, and 401 patents granted [4][8]. Group 3: Technological Advancements - Tianzhihang has pioneered remote orthopedic surgeries in China since 2006 and has conducted over 1,000 remote surgeries using 5G technology, showcasing the potential of "5G + robotics" in healthcare [6][8]. - The company emphasizes the importance of orthopedic surgical robots in addressing uneven distribution of medical resources and enhancing capabilities in grassroots medical institutions [7]. Group 4: Market Position and Growth - The Chinese surgical robot market is projected to reach approximately 9.59 billion yuan in 2024, with a compound annual growth rate of 34.5% over the past five years, and is expected to grow to 11.03 billion yuan by 2025 [8]. - Tianzhihang's revenue structure has evolved, with more than 50% of its income now coming from consumables and technical services, compared to nearly 100% from hardware four years ago [8]. Group 5: International Expansion - The company aims to expand internationally, with its surgical navigation systems receiving EU CE certification, facilitating its entry into overseas markets [9]. - Tianzhihang plans to develop differentiated market strategies based on the characteristics of various international markets, positioning itself as a significant player in the global orthopedic surgical robot arena [9].

Core Viewpoint - Beijing Tinavi Medical Technology Co., Ltd. will hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on June 27, 2025, to discuss operational results and financial status with investors [1][2]. Group 1: Meeting Details - The performance briefing will take place on June 27, 2025, from 10:00 to 11:00 AM [4]. - The meeting will be held at the Shanghai Stock Exchange Roadshow Center, accessible via the website: https://roadshow.sseinfo.com/ [4]. - The format of the meeting will be an online interactive session [4]. Group 2: Participation Information - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the scheduled date [2]. - Questions can be submitted by investors from June 20 to June 26, 2025, through the "Question Pre-Collection" section on the website or via the company's email [2][4]. - The company will address commonly asked questions during the briefing [2][4]. Group 3: Attendees - The attendees of the briefing will include the company's General Manager, Mr. Xu Jin, Independent Director, Ms. Zhang Ruijun, Chief Financial Officer, Ms. Qi Min, and Secretary of the Board, Mr. Huang Junhui [1].

关于召开 2024 年度暨 2025 年第一季度业绩说明会的公告 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。 重要内容提示： 证券代码：688277 证券简称：天智航 公告编号：2025-028 北京天智航医疗科技股份有限公司 北京天智航医疗科技股份有限公司（以下简称"公司"）已于 2025 年 4 月 29 日发布公司 2024 年年度报告和 2025 年第一季度报告，为便于广大投资者更 全面深入地了解公司 2024 年度、2025 年第一季度经营成果、财务状况，公司计 划于 2025 年 6 月 27 日上午 10:00-11:00 举行 2024 年度暨 2025 年第一季度业绩 说明会，就投资者关心的问题进行交流。 三、参加人员 参加本次业绩说明会的人员有：公司总经理徐进先生、独立董事张瑞君女士、 财务总监齐敏女士、董事会秘书黄军辉先生（如有特殊情况，参会人员可能进行 调整）。 四、投资者参加方式 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2024 年度及 2025 年第 一季度的经营成果 ...

Core Viewpoint - The surgical robot market in China is experiencing significant growth, with a 82.9% year-on-year increase in the number of surgical robots awarded contracts in the first five months of 2025, despite some companies facing bankruptcy and liquidation [1] Group 1: Market Dynamics - The surgical robot industry is highly competitive, with numerous domestic companies participating in various segments, including over 16 approved laparoscopic surgical robots and more than 50 orthopedic surgical robots [1] - The number and amount of financing in the surgical robot sector have sharply decreased, leading to potential funding crises for companies that have not yet achieved commercial revenue [1][3] - The market is witnessing a price war among companies, with various surgical robots being commercialized at significantly different price points, yet the market leader, the Da Vinci surgical robot, remains unaffected in terms of sales [4][5] Group 2: Clinical and Technological Challenges - Some surgical robots are limited to simple procedures, and their clinical value has not yet been fully realized, as evidenced by a study showing that 11% of robot-assisted coronary interventions required conversion to manual operation [2][4] - The commercial success of surgical robots is heavily influenced by policies and macroeconomic conditions, with some companies experiencing significant declines in sales and revenue due to factors like anti-corruption measures and slowed bidding processes [5] Group 3: Innovations and Strategies - Companies are focusing on technological innovations, including the integration of AI to enhance the capabilities of surgical robots, with several firms already developing AI-enabled products [8][9] - Efforts are being made to reduce product costs to make surgical robots more accessible to hospitals, such as the modular design of the HaiShan laparoscopic surgical robot [9] - Companies are exploring remote surgical technologies to expand their market reach and improve access to quality healthcare, with several firms successfully conducting remote surgeries [9][10] Group 4: Market Expansion and Accessibility - Surgical robot companies are increasingly looking to international markets for growth, with firms like MicroPort achieving significant revenue increases through overseas orders [12] - There is a trend of surgical robots being adopted in county-level hospitals, which allows for more complex procedures to be performed locally, thus improving healthcare access for patients [14][15]