Core Insights - The process control system (PCS) is essential for monitoring, controlling, and optimizing industrial processes across various sectors, including chemicals, oil, electricity, pharmaceuticals, and food processing [1][2] - The global PCS market is projected to grow from approximately $59.4 billion in 2024 to $61.73 billion in 2025, reflecting a year-on-year growth of 3.9% [9] - In China, the PCS market is expected to reach around 43.4 billion yuan by 2025, driven by advancements in smart manufacturing and automation technologies [11][12] Industry Overview - PCS includes various automation systems such as DCS (Distributed Control System) and PLC (Programmable Logic Controller), each suited for different industrial environments [2] - DCS solutions account for about 46% of the market, primarily used in oil, gas, and chemical industries, while PLCs represent 38%, widely deployed in automotive and packaging sectors [9] - The application of PCS is expanding, with significant usage in oil and gas (29%), chemicals (22%), automotive (14%), and food and beverage (13%) sectors in 2024 [9][10] Market Dynamics - The PCS industry is experiencing rapid growth due to the integration of new technologies such as AI, big data, IoT, and cloud computing, which are transforming production management and decision-making systems [11] - The Chinese automation industry has made significant strides in technology and product quality, narrowing the gap with international brands and increasing domestic market share [12] Development Trends - The PCS sector is evolving with the integration of automation technology (AT), information technology (IT), process technology (PT), operational technology (OT), and equipment technology (ET) to create intelligent management and control systems [13] - The push for domestic innovation and the complete localization of automation equipment is becoming increasingly important for enhancing supply chain security in China [13]

Group 1 - The core point of the news is that Zhongkong Technology Co., Ltd. has won a procurement project from the National Pipeline Network Group for the performance enhancement of the compressor control system at the Jintan and Liuzhuang gas storage facilities, with a bid amount of 3.6694 million yuan [1][2]. Group 2 - In 2024, Zhongkong Technology reported an operating revenue of 9.139 billion yuan, with a growth rate of 6.02%, and a net profit attributable to the parent company of 1.117 billion yuan, reflecting a growth rate of 1.38% [3]. - For the first half of 2025, the company recorded an operating revenue of 3.830 billion yuan, showing a decline of 9.92%, and a net profit attributable to the parent company of 354 million yuan, which is a decrease of 31.46% [3]. - The company operates in the information technology sector, with its main product types including electrical instruments, system integration services, industry-specific software, and professional consulting services [3]. - The revenue composition for 2024 includes: control systems and instruments (24.5%), control systems and software (20.9%), S2B platform business (17.75%), control systems (16.35%), industrial software and services (8.13%), automation instruments (7.04%), operation and maintenance services (4.64%), and other businesses (0.7%) [3].

Core Viewpoint - The industrial software sector is experiencing a strong surge, driven by government initiatives aimed at enhancing the development of industrial internet platforms and the integration of artificial intelligence in manufacturing [1][2] Group 1: Government Initiatives - The Ministry of Industry and Information Technology released an action plan for the high-quality development of industrial internet platforms from 2026 to 2028, aiming for over 450 influential platforms and a connectivity of over 120 million industrial devices by 2028 [1] - The plan emphasizes a multi-layered platform system characterized by "professional, industry-specific, and collaborative" types, with a target platform penetration rate exceeding 55% [1] - A separate initiative on January 7 focuses on enhancing artificial intelligence capabilities in manufacturing, promoting the development of smart chips and high-level industry models [1] Group 2: Market Response - Following the announcement of these policies, stocks in the industrial software sector saw significant gains, with companies like Zhongkong Technology and Dingjie Smart rising over 10%, and Yonyou Network hitting the daily limit [1] - Guohai Securities predicts that the ongoing policy support will accelerate the deployment of industrial models and intelligent systems by leading domestic companies, potentially leading to rapid advancements in AI-driven industrial software innovation [2]

Core Insights - The robotics sector is experiencing significant growth, with the China Securities Robotics Index (H30590) rising by 2.37% as of January 14, 2026, driven by strong performances from key stocks such as Zhongkong Technology (+11.87%) and Tianzhihang (+6.22%) [1] - Xiaopeng Motors has announced that its humanoid robot IRON has completed its first offline debugging and is set to begin mass production in 2026, featuring 82 degrees of freedom and powered by three Turing AI chips with an effective computing power of 2250 TOPS [1] - The domestic humanoid robot industry is expected to benefit from increasing production certainty among local manufacturers, while the overseas market is still in the early stages of small-scale production [1] Industry Overview - The top ten weighted stocks in the China Securities Robotics Index (H30590) as of December 31, 2025, include Keda Xunfei, Huichuan Technology, and Top Group, collectively accounting for 52.83% of the index [2] - The robotics industry ETF (560630) closely tracks the China Securities Robotics Index, selecting companies involved in system solutions, digital workshops, automation equipment manufacturing, and other robotics-related sectors to facilitate investor access to core humanoid robot stocks [2]

Group 1 - Zhongkong Technology's stock price increased by 8.27% to 68.50 CNY per share, with a total market capitalization of 54.196 billion CNY and a trading volume of 204 million CNY, marking a cumulative increase of 26.46% over four consecutive days [1] - The company, founded on December 7, 1999, specializes in providing automation control systems and intelligent manufacturing solutions primarily for process industries, with revenue breakdowns including 58.43% from industrial automation and smart manufacturing solutions, 17.66% from instruments, 10.80% from S2B business, 7.62% from industrial software, 4.43% from operation and maintenance services, and 1.06% from other sources [1] Group 2 - Tianhong Fund's Tianhong CSI Robot ETF (159770) increased its holdings in Zhongkong Technology by 121.19 million shares in the third quarter, now holding 6.947 million shares, representing 4.22% of the fund's net value, ranking as the fifth largest holding [2] - The Tianhong CSI Robot ETF has a total size of 9.078 billion CNY, with a year-to-date return of 6.14% and a one-year return of 41.75%, ranking 2101 out of 5520 and 2088 out of 4203 respectively [2]

Core Viewpoint - The AI application stocks in A market continue to perform strongly, with several companies experiencing significant price increases on January 14. Group 1: Stock Performance - Guangyun Technology (光云科技) reached a 20% increase, closing at a market capitalization of 14.6 billion [1][2] - Zhidingmai (值得买) surged by 16.19%, with a total market value of 16.2 billion [1][2] - Zhongkong Technology (中控技术) saw an 11.11% rise, bringing its market cap to 55.6 billion [1][2] - Zhewen Huli (浙文互联) increased by 10.04%, with a market value of 18.4 billion [1][2] - Meinian Health (美年健康) rose by 9.99%, reaching a market capitalization of 31.9 billion [1][2] - Liou Shares (利欧股份) experienced a 9.97% increase, with a total market cap of 67.2 billion [1][2] - Dongfang Guoxin (东方国信) grew by 9.94%, with a market value of 14.4 billion [1][2] - People's Daily Online (人民网) increased by 9.65%, reaching a market cap of 30.9 billion [1][2] - Yidian Tianxia (易点天下) rose by 6.70%, with a market capitalization of 35.2 billion [1][2] - Xinhua Net (新华网) increased by 6.50%, with a market value of 19.3 billion [1][2] - Yanshan Technology (岩山科技) saw a 5.84% rise, with a market cap of 72 billion [1][2] - Fushi Holdings (福石控股) increased by 5.88%, with a market value of 8.5 billion [1][2] - Kaipuyun (开普云) rose by 5.86%, with a market capitalization of 15.2 billion [1][2] - Inli Media (引力传媒) increased by 5.74%, with a market value of 8.941 billion [1][2] - Huichan Shares (慧辰股份) saw a 4.66% rise, with a market cap of 5.896 billion [1][2] - Dingjie Smart (鼎捷数智) increased by 4.47%, with a market value of 17.9 billion [1][2] - Tianyu Digital Science (天娱数科) rose by 4.26%, with a market capitalization of 13.4 billion [1][2] Group 2: Year-to-Date Performance - Guangyun Technology has a year-to-date increase of 102.73% [2] - Zhidingmai has risen 85.37% year-to-date [2] - Zhongkong Technology has a year-to-date increase of 42.48% [2] - Zhewen Huli has increased by 58.44% year-to-date [2] - Meinian Health has a year-to-date increase of 54.36% [2] - Liou Shares has risen 76.06% year-to-date [2] - Dongfang Guoxin has a year-to-date increase of 23.39% [2] - People's Daily Online has increased by 46.67% year-to-date [2] - Yidian Tianxia has a year-to-date increase of 84.44% [2] - Xinhua Net has risen 47.50% year-to-date [2] - Yanshan Technology has a year-to-date increase of 78.98% [2] - Fushi Holdings has increased by 35.07% year-to-date [2] - Kaipuyun has a year-to-date increase of 15.60% [2] - Inli Media has a year-to-date increase of 95.23% [2] - Huichan Shares has risen 26.80% year-to-date [2] - Dingjie Smart has a year-to-date increase of 45.49% [2] - Tianyu Digital Science has increased by 26.69% year-to-date [2]

Group 1 - The industrial internet concept is active in early trading, with significant stock movements observed [1] - Yunding Technology reached the daily limit increase, indicating strong investor interest [1] - Dongfang Guoxin rose over 10%, reflecting positive market sentiment towards the company [1] Group 2 - Other companies such as Baoxin Software, Zhongkong Technology, Dongtu Technology, and Saimo Intelligent also showed notable gains, contributing to the overall positive trend in the sector [1]

中控技术1月13日大宗交易平台出现一笔成交，成交量7.10万股，成交金额327.03万元，大宗交易成交价 为46.06元，相对今日收盘价折价27.20%。该笔交易的买方营业部为东方证券股份有限公司上海普陀区 光新路证券营业部，卖方营业部为兴业证券股份有限公司上海自由贸易试验区分公司。 两融数据显示，该股最新融资余额为20.34亿元，近5日增加3513.01万元，增幅为1.76%。（数据宝） 1月13日中控技术大宗交易一览 | 成交量 （万 | 成交金额 | 成交价 格 | 相对当日收盘 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | | （万元） | | 折溢价（%） | | | | 股） | | （元） | | | | | 7.10 | 327.03 | 46.06 | -27.20 | 东方证券股份有限公司上海 | 兴业证券股份有限公司上 | | | | | | 普陀区光新路证券营业部 | 海自由贸易试验区分公司 | （文章来源：证券时报网） 证券时报·数据宝统计显示，中控技术今日收盘价为63.27元，上涨9.90%，日换手率为10.93 ...

Core Viewpoint - On January 13, 14 stocks from the STAR Market experienced block trading, with a total transaction amount of 315 million yuan and a cumulative trading volume of 9.96 million shares [1]. Group 1: Trading Overview - A total of 38 block trades were recorded for the 14 STAR Market stocks, with the highest transaction amount attributed to Hu Silicon Industry, which had a trading volume of 6.61 million shares and a transaction amount of 149 million yuan [1]. - Other notable transactions included Huaxi Biological and Mingwei Electronics, with transaction amounts of 58.29 million yuan and 26.62 million yuan, respectively [1]. - The average price of block trades for the stocks showed significant variations, with some stocks trading at discounts to their closing prices, such as Zhongkong Technology at a discount rate of 27.20% [1][4]. Group 2: Price Performance - The STAR 50 Index fell by 2.80% on the same day, with 167 stocks, or 27.83%, experiencing price increases [1]. - Among the stocks involved in block trading, the average price change was a decrease of 0.10%, with notable gainers including Zhuoyi Information, Zhongkong Technology, and Huaxi Biological, which saw increases of 13.13%, 9.90%, and 2.25%, respectively [1]. - Conversely, stocks like Bolite, Mingwei Electronics, and Hu Silicon Industry faced declines of 11.41%, 4.87%, and 3.27% [1]. Group 3: Institutional Participation - Out of the block trades, 13 transactions involved institutional buyers or sellers, focusing on three stocks, with Huaxi Biological leading in institutional buy amounts at 22.17 million yuan [2]. - Other significant institutional purchases included Tiannai Technology and Yunlu Co., with buy amounts of 7.09 million yuan and 2.01 million yuan, respectively [2]. - In terms of capital flow, four stocks saw net inflows, with Huaxi Biological, Yunlu Co., and Lante Optical leading in net inflow amounts of 67.52 million yuan, 14.59 million yuan, and 10.73 million yuan, respectively [2].

Market Overview - On January 13, the A-share market experienced a volatile pullback, with the Shanghai Composite Index halting its 17-day winning streak. The Robot ETF Fund (159213) fell by 1.37%, while it attracted over 55 million yuan in capital on that day, marking a total of over 300 million yuan in inflows over the past 11 days [1] ETF Fund Composition - The top ten constituent stocks of the Robot ETF Fund (159213) showed mixed performance, with notable gainers including Zhongkong Technology (+9.9%), Lide Harmony (+3.54%), and Keda Xunfei (+2.16%). Conversely, major declines were seen in Dazhu Laser (-5.52%) and Huichuan Technology (-3.12%) [2][4] Policy and Industry Dynamics - The Ministry of Industry and Information Technology announced initiatives for the 14th Five-Year Plan, focusing on revitalizing traditional industries and promoting emerging sectors, including quantum technology, humanoid robots, and AI [3] - The recent CES exhibition highlighted the dominance of Chinese humanoid robot manufacturers, with Chinese companies occupying 21 out of 38 humanoid robot booths, exceeding 50% of the total [5] Technological Developments - Elon Musk projected that general artificial intelligence (AGI) will arrive by 2026, with robots expected to surpass human surgical skills within three years and achieve superior performance compared to human doctors in four years [6] - Eastern Securities noted that the narrative around humanoid robots is shifting from simple mass production to AGI capabilities, suggesting that the latter will have a stronger impact on investment opportunities [7] Challenges in Production - The production of humanoid robots faces three main challenges: developing a highly dexterous hand, an AI brain capable of understanding the real world, and achieving large-scale production. The AI brain is identified as the most critical challenge for the industry's advancement [8] - Tesla is actively working on enhancing its AI brain for humanoid robots, with expectations for prototype production readiness by early 2026, indicating potential investment opportunities in the first half of 2026 [9] Investment Opportunities - The market is witnessing a significant interest in humanoid robots, with major global tech companies investing in this sector. The Robot ETF Fund (159213) is positioned to provide investors with access to the growth potential of the humanoid robot industry [10]