Investment Rating - The investment rating for the industry is "Positive" (maintained) [1] Core Insights - The 2025 World Artificial Intelligence Conference (WAIC) showcased over 150 humanoid robots, emphasizing the integration of AI with the real economy, with embodied intelligence as a core theme [4][14] - The domestic embodied intelligence sector has seen a significant increase in financing, with over 200 billion yuan raised in the first half of 2025, indicating a robust growth trajectory [32][35] - The report identifies ten key application scenarios for humanoid robots, including logistics sorting, elderly care, inspection, guidance, family companionship, education, medical care, automotive factories, electronics factories, and entertainment, with logistics, health, inspection, and education being the primary focus areas [60][62] Summary by Sections 1. Industry Overview - The WAIC 2025 highlighted the transition of humanoid robots from static displays to dynamic task execution, marking a significant milestone in the industry [14][28] - The conference emphasized the need for AI to empower new industrialization, with the Ministry of Industry and Information Technology (MIIT) announcing initiatives to enhance data quality and facilitate enterprise collaboration [4][28] 2. Market Dynamics - The primary market is witnessing a surge in financing for domestic embodied intelligence companies, characterized by a "scale increase and hardware-software layout" [5][32] - The secondary market is seeing accelerated capital actions from leading companies, driving the entire industry chain's collaborative development [36] 3. Application Scenarios - The report anticipates a rapid acceleration in the deployment of humanoid robots across various application scenarios, with logistics expected to lead the way [41][60] - Specific companies are highlighted as beneficiaries in different application areas, such as logistics (e.g., Zhongyou Technology, DeMa Technology) and elderly care (e.g., Sanhui Electric, Songlin Technology) [62] 4. Key Investment Targets - Recommended investment targets include companies focused on application scenarios and core components, such as Huaron Co., Ltd. and Boshi Co., Ltd. for application scenarios, and Top Group and Zhongding Co., Ltd. for core components [7][61] - The report emphasizes the importance of a stable supply chain for humanoid robots, particularly in components like motors, reducers, sensors, and lightweight materials [63][70]

Group 1 - The company, Boshi Co., Ltd. (SZ 002698), announced that it will participate in a research meeting organized by Dongfang Securities Asset Management Co., Ltd. on August 1, 2025 [2] - The company's director and board secretary, Chen Bo, will be involved in the meeting and will respond to questions from investors [2]

Group 1: Company Overview and Market Position - Harbin Boshi Automation Co., Ltd. focuses on high-end intelligent manufacturing equipment, with a strong emphasis on technology advantages such as high speed, precision, and reliability, catering to high-demand production scenarios [1] - The company’s intelligent manufacturing equipment revenue growth is driven by the increasing demand for digital and intelligent upgrades in China's manufacturing industry [1] - The company has a dual growth engine strategy, combining intelligent manufacturing equipment and industrial services, both supported by national policies promoting high-end equipment manufacturing and modern service industries [2] Group 2: Financial Performance and Projections - In 2024, the company’s industrial service revenue is projected to reach 768 million yuan, accounting for 26.84% of total revenue, with a gross margin of 29.62% [1] - The company has a solid project reserve for new construction and upgrades, indicating a positive outlook for future revenue despite macroeconomic fluctuations [1][3] - The company achieved a revenue increase of 320 million yuan from two intelligent factory projects in Inner Mongolia and Ningxia [3] Group 3: Competitive Advantages and Challenges - The company maintains a competitive edge through differentiated product strategies and a strong focus on technological innovation, resulting in high gross margins [4] - Challenges in overseas markets include complex standards and certification requirements, but the company aims to expand its international presence [3] - The company’s products are primarily customized, allowing for a combination of customization and standardization to meet diverse client needs [2] Group 4: Future Growth and Development Strategies - Future growth will focus on market demand-driven innovation and the development of intelligent manufacturing solutions, including solid material processing and smart factory applications [3] - The company plans to enhance its industrial service capabilities, which are expected to grow steadily due to both existing equipment demand and new project opportunities [1][2] - The company’s strategy includes leveraging its technological advancements to replace high-risk manual operations with automated solutions [3]

Group 1 - The company, Boshi Co., Ltd. (stock code: 002698), reported on August 1 that it received data indicating the number of shareholders (merged) as 48,980 as of July 31, 2025 [1]

Group 1 - The company reported that as of July 31, 2025, the number of shareholders (merged accounts) is 48,980 [1]

博实股份（002698.SZ）7月31日在投资者互动平台表示，公司与哈工大共同设立的人形机器人关键技术 及原理样机产业化研发项目，有公司配备的团队进入项目工作。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问贵公司有自己的人形机器人研究团队吗？ ...

金融界消息 截至2025年7月29日收盘，博实股份（002698）报收于16.58元，下跌1.07%，换手率 1.58%，成交量13.27万手，成交金额2.19亿元。 资金流向方面，今日主力资金净流出2176.70万元，占比成交额9.93%。其中，超大单净流出856.81万 元、占成交额3.91%，大单净流出1319.89万元、占成交额6.02%，中单净流出流入864.28万元、占成交 额3.94%，小单净流入1312.42万元、占成交额5.99%。 来源：金融界 博实股份最新一期业绩显示，截至2025一季报，公司营业总收入7.00亿元、同比增长5.81%，归属净利 润1.50亿元，同比增长42.08%，扣非净利润1.40亿元，同比增长45.68%，流动比率2.631、速动比率 1.705、资产负债率40.61%。 通过天眼查大数据分析，哈尔滨博实自动化股份有限公司共对外投资了23家企业，参与招投标项目1720 次，知识产权方面有商标信息36条，专利信息352条，此外企业还拥有行政许可47个。 天眼查商业履历信息显示，哈尔滨博实自动化股份有限公司，成立于1997年，位于哈尔滨市，是一家以 从事通用设备制造业为 ...

Key Points - The stock of Renle will be delisted on July 4, 2025 [1] - Hualing Steel has been acquired by Xintai Life Insurance with a shareholding ratio of 5% [1] - Vanke A has applied for a loan of up to 6.249 billion yuan from Shenzhen Metro Group [1] - ST Yazhen has completed stock trading verification and will resume trading tomorrow [1] - Aerospace Chuangxin has regained procurement qualifications for military material engineering services [1] - Shangwei New Materials' controlling shareholder is planning a major event, and the stock will remain suspended [1] - Changling Hydraulic's actual controller is planning a change of control, and the stock will be suspended from tomorrow [1] - China Merchants Bank has been approved to establish China Merchants Financial Asset Investment Co., with a registered capital of 15 billion yuan [1] - Liugang Co. has experienced a potential irrational speculation risk with its stock [1] Operating Performance - Brothers Technology expects a net profit increase of 325% to 431.25% year-on-year for the first half of the year [1] - Huayin Power anticipates a net profit increase of 175 million to 215 million yuan year-on-year for the first half [1] - Xutian Salt Industry expects a net profit decrease of 76.34% to 80.29% year-on-year for the first half [1] - Juguang Technology expects a net loss of 42 million to 54 million yuan for the first half [1] - Beibu Gulf Port reported a cargo throughput of 31.1158 million tons in June, a year-on-year increase of 2.56% [1] - China Nuclear Power generated 115.104 billion kWh of electricity in the first half, a year-on-year increase of 15.92% [1] - Changyuan Power completed a power generation of 16.715 billion kWh in the first half, a year-on-year decrease of 8.3% [1] - Poly Developments signed contracts worth 29.011 billion yuan in June, a year-on-year decrease of 30.95% [1] Shareholding Changes - Jingye Da's actual controller plans to reduce holdings by no more than 3% [1] - Deyi Cultural Creation's actual controller Wu Tifang plans to reduce holdings by no more than 3% [1] - Caifu Trend's actual controller and chairman plan to reduce holdings by no more than 3% [1] - Annuo Qi's actual controller plans to reduce holdings by no more than 2% [1] - Suotong Development's actual controller and concerted actors plan to reduce holdings by no more than 2.21% [1] - Dingsheng Co.'s controlling shareholder plans to reduce holdings by no more than 1.71% [1] - Weitang Industrial's controlling shareholder plans to reduce holdings by no more than 1.95% [1] - Jinlong Automobile's Fujian Investment Group plans to reduce holdings by no more than 1% [1] - Wanye Enterprises' Guosheng Capital plans to reduce holdings by no more than 0.2% [1] - Zhonggang Luonai's Guoxin Shuangbai No.1 plans to reduce holdings by no more than 0.5% [1] - Funeng Technology's Shenzhen Anyan Investment plans to reduce holdings by no more than 1% [1] - Ankang Technology's Shenzhen High-tech Investment plans to reduce holdings by no more than 3% [1] - Donglai Technology plans to reduce no more than 1.2048 million repurchased shares [1] - Qujiang Cultural Tourism's controlling shareholder's 12 million shares are set to be auctioned [1] - Hesheng Silicon Industry's controlling shareholder plans to exchange no more than 1% of shares for ETF shares [1] Contract Awards - Boshi Co. signed an outsourcing service contract worth 109 million yuan with Guangxi Petrochemical [1] - Zhongyou Engineering's subsidiary signed a contract worth 294 million USD for the Atavi GMP pipeline project with Total Energy [1] - China Electric Power Construction's subsidiary signed a mining transportation project contract worth approximately 5.063 billion yuan [1] Other Developments - Xingxin New Materials plans to invest in a project with an annual output of 153,000 tons of polyolefin amine series products [4] - Haishun New Materials plans to acquire Sirewen Company to expand the application of electronic film materials in the semiconductor field [4] - Wankai New Materials is undergoing production reduction and maintenance, which is expected to significantly impact overall operating performance [4] - Donghu High-tech is participating in the establishment of the Donggao Frontier Phase II Fund to improve the development model of the park operation sector [4] - Jiete Biological plans to participate in the establishment of an industrial fund primarily investing in early and mid-stage biopharmaceutical projects [4] Asset Sales - Nord Shares plans to sell 70% equity of its wholly-owned subsidiary Jiangsu Lianxin for 70 million yuan [5]

2025年6月17日，公司披露了《关于持股5%以上股东减持股份触及1%整数倍的公 告》（公告编号：2025-029），联创未来在2025年5月7日至2025年6月16日期间通过 大宗交易及集中竞价交易的方式减持公司股份10,241,500股，占公司总股本的 1.0016%，本次权益变动后，联创未来持有公司股份122,630,576股，持股比例由 12.9941%减少至11.9925%。 1 2025年7月3日，公司收到联创未来出具的《关于股份减持计划完成暨减持结果 的告知函》（以下简称"告知函"），联创未来在2025年6月17日至2025年7月3日期 间通过大宗交易及集中竞价交易的方式减持公司股份8,130,715股，占公司总股本的 0.7951%，本次权益变动后，联创未来持有公司股份114,499,861股，持股比例由 11.9925%减少至11.1974%。截至2025年7月3日，联创未来本次减持计划已实施完成， 本次减持计划累计减持公司股份30,676,815股，占公司总股本的3.0000%。具体情况 公告如下： | 证券代码：002698 | 证券简称：博实股份 公告编号：2025-033 | | - ...

Core Viewpoint - The company announced that its shareholder, Lianchuang Future, has completed its share reduction plan, selling a total of 30.68 million shares, which accounts for 3.0000% of the company's total equity [1] Summary by Relevant Sections - **Share Reduction Details** - The reduction period was from April 29, 2025, to July 3, 2025 - The average selling price was 16.22 yuan per share [1] - **Post-Reduction Shareholding** - After the reduction, Lianchuang Future holds 114 million shares - The shareholding percentage decreased from 11.9925% to 11.1974% [1] - **Impact on Company** - The share reduction will not lead to a change in company control - There will be no significant impact on the company's governance structure or ongoing operations [1]