Investment Rating - The report maintains a "Positive" investment rating for the mechanical equipment industry, indicating an expected return that is stronger than the market benchmark by over 5% [7]. Core Insights - The trend towards more human-like robots is expected to enhance the degrees of freedom in humanoid robots, leading to an expanded market for encoders. Related component manufacturers are likely to benefit, including companies such as Inovance Technology (300124, not rated), Hechuan Technology (688320, not rated), and Xinjie Electric (603416, not rated) [4]. - Tesla's V3 version of the Optimus robot is anticipated to achieve breakthroughs in joint numbers and hand flexibility, contributing to the goal of increased human-like characteristics in robots [10]. - Magnetic encoders are expected to benefit more than optical encoders from the increase in degrees of freedom in humanoid robots. The demand for encoders is projected to grow as humanoid robots become more advanced [10]. - AMR sensors are highlighted for their advantages in high-precision and compact applications, particularly in dexterous hands, which could lead to increased revenue and market share for domestic manufacturers [10]. Summary by Sections Humanoid Robot Development - The humanoid robot's design is evolving towards greater human-like features, with advancements in joint flexibility and overall design [10]. - Domestic manufacturers are making progress in humanoid design, with examples like Xiaopeng's IRON robot featuring 82 degrees of freedom [10]. Encoder Market Expansion - The report emphasizes the growing demand for encoders as humanoid robots achieve higher degrees of freedom, with magnetic encoders being more cost-effective for mass production [10]. - AMR sensors are noted for their higher sensitivity and suitability for compact designs, making them preferable in high-precision applications [11]. Application of AMR Sensors - AMR sensors are expected to see broader application in the core joint components of robots, which will drive revenue growth for domestic manufacturers [10].

【导读】深圳市上市公司数量达600家，市值超19万亿元！打造创新与高质量发展的"深圳样本" 作为资本市场服务实体经济的核心载体，深圳上市公司群体实现了规模和质量的同步跃升。 "十四五"期间，深圳境内上市公司数量增长35.03%。截至2025年10月末，总市值为12.59万亿元，占A股 上市公司总市值比例超过10%，稳居全国大中城市第二(次于北京)；总市值千亿元以上公司有20家，合 计市值为7.16万亿元。 近五年，深圳市上市公司累计贡献税费超2万亿元，近十年更是突破3.5万亿元，同时以超400万人的员 工规模筑牢区域就业"稳定器"。 2025年前三季度，深圳市上市公司累计实现营业收入5.20万亿元、净利润4577.97亿元，同比分别增长 7.36%和3.98%，营收增幅高于全国平均水平；其中制造业当家特色显著，营业收入贡献率达99.87%。 截至1月31日，深圳市市值超过千亿元的头部公司共20家。其中8家已披露2025年业绩预告信息，均为预 喜，预计2025年度盈利合计2538.97亿元。 2月3日，东鹏饮料（605499）A+H股上市；2月5日，北芯生命科创板首发上市；2月6日，卓正医疗港 股首发上市、大族 ...

进入2月以来，A股在4100点展开拉锯，震荡调整将会延续到何时，A股后市又会怎么走？华尔街大行给 出了最新预判。 摩根士丹利在近期披露的研报中称，外资流入显著加速，散户情绪回暖。据该机构测算，今年1月，美 国和欧盟共同基金对中国股市的净流入达到86亿美元（约合597亿元人民币），为2024年10月以来的最 高水平。当月，A股新开户数和小额订单（单笔4万元人民币以下）净流入，均创下2025年以来的新 高。 另一家华尔街大行高盛，也对A股持乐观判断。高盛中国投行联席主管范翔认为，投资者对"中国创 新"的广泛认可，以及对AI与机器人主题的浓厚兴趣，有望支撑2026年全年的强劲市场情绪。 另外，富达国际、威灵顿投资等外资也看好A股后市表现。今年以来，外资调研热情不减。Wind统计显 示，年初至今，超百家A股公司获外资调研，AI企业继续受到青睐。 超百家A股公司获外资调研 RMB交易与研究 2026年开年以来，A股强势突破4000点并快速站上4100点，但1月下旬以来，市场出现震荡调整。进入2 月，沪指跌破4100点，2月5日报收4075.92点，当日跌幅0.64%。 虽然市场震荡调整，外资调研A股公司的热度不减。Wi ...

Core Viewpoint - The article discusses the recent performance and outlook of the A-share market, highlighting significant foreign capital inflows and positive sentiment among retail investors, with major financial institutions expressing optimism for the market in 2026 [3][12]. Group 1: Market Performance - Since the beginning of 2026, the A-share market has shown strong performance, breaking through the 4000-point mark and quickly reaching 4100 points, although it has experienced some volatility since late January [5]. - As of February 5, 2026, the Shanghai Composite Index closed at 4075.92 points, reflecting a decline of 0.64% on that day [5]. Group 2: Foreign Capital Inflows - Morgan Stanley reported that foreign capital inflows have significantly accelerated, with net inflows from U.S. and EU mutual funds reaching $8.6 billion (approximately 59.7 billion RMB) in January, the highest level since October 2024 [3][8]. - In January, active funds from the U.S. and Europe turned net inflow for the first time in nearly three years, amounting to approximately $1.2 billion (about 8.3 billion RMB), while passive funds saw inflows of $7.4 billion (around 51.3 billion RMB) [8]. Group 3: Retail Investor Sentiment - Retail investor participation has notably increased, with new account openings on the Shanghai Stock Exchange soaring to 4.9 million in January, surpassing the previous peak of 3.1 million in March 2025 [10]. - The article indicates that the "national team" selling pressure may be nearing its end, which, combined with continued inflows from foreign and retail investors, could lead to a more favorable liquidity environment in the market [11]. Group 4: Institutional Optimism - Goldman Sachs and other financial institutions express a positive outlook for the A-share market, driven by investor confidence in "Chinese innovation" and strong interest in AI and robotics themes, which are expected to support robust market sentiment throughout 2026 [12][14]. - Fidelity International noted that the Chinese market is showing resilience, with attractive valuations compared to global peers, and anticipates increased domestic and international investment as policy stability improves and corporate earnings visibility enhances [15]. Group 5: Foreign Research Interest - Over 163 A-share companies have attracted foreign research interest since the beginning of the year, with companies like Huaming Equipment and InnoCare receiving the most attention [5][6]. - AI-related companies remain the most favored among foreign investors, with several firms receiving over 40 research inquiries [5].

作为A股"调研劳模"，Point72资产管理公司在2023年至2025年间连续三年位居外资调研榜榜首，调研次 数分别为255次、259次和269次。今年以来，机构调研了晶科科技、奥普特、普冉股份、奥比中光等公 司。 2026年开年以来，外资机构继续积极调研A股上市公司。Wind数据显示，截至2月4日，外资机构年初以 来合计调研A股上市公司逾500次。其中，被称为华尔街"最疯狂的赚钱机器"的Point72资产管理公司、 摩根资产管理、贝莱德、高盛、摩根士丹利、美银证券等知名对冲基金、资管公司和国际投行均出现在 调研名单上。从调研标的来看，华明装备、影石创新和汇川技术位于外资调研榜前三位。 外资调研动向往往被视为市场的"风向标"。Wind数据显示，2026年以来截至2月4日，外资机构合计调 研A股上市公司503次。其中，摩根资产管理调研15次，排名首位。在调研名单中，还出现了Point72资 产管理公司、贝莱德、高盛、摩根士丹利、美银证券等外资巨头。 | 序号 | | | | | | --- | --- | --- | --- | --- | | | 机构名称 | | ភិវឌ្ឍភ | J 调研总次数 | | ...

证券代码：300124 证券简称：汇川技术 公告编号：2026-003 深圳市汇川技术股份有限公司 （一）基金名称：江苏汇创睿昇创业投资合伙企业（有限合伙） （二）组织形式：有限合伙企业 （三）执行事务合伙人：南通泽涌 （四）基金管理人：汇创新（深圳）私募股权基金管理有限公司（以下简称 "汇创新"） （五）基金规模：总规模不超过 160,000 万元，首期募集资金金额 70,100 万元。 （六）首期各合伙人认缴出资额 关于投资设立产业投资基金的进展公告（一） 本公司及董事会全体成员保证公告内容与信息披露义务人提供 的信息一致。 深圳市汇川技术股份有限公司（以下简称"公司"或"汇川技术"）于 2025 年 8 月 22 日召开第六届董事会第十一次会议审议通过了《关于与关联方共同投 资设立产业投资基金的议案》，同意汇川技术与关联方南通泽涌产业投资有限公 司（以下简称"南通泽涌"，即执行事务合伙人）、职工董事兼副总裁兼董事会秘 书宋君恩先生及其他有限合伙人共同投资设立总规模不超过人民币 160,000 万元 的产业投资基金，其中汇川技术作为有限合伙人认缴出资不超过人民币 30,000 万元。具体内容详见公司于 2 ...

来源：新浪基金∞工作室 2月3日，截止午间收盘，创业50ETF（159682）跌0.07%，报1.499元，成交额2.23亿元。创业50ETF （159682）重仓股方面，宁德时代截止午盘跌1.04%，中际旭创跌1.06%，新易盛跌4.13%，东方财富涨 0.27%，阳光电源跌0.17%，胜宏科技跌1.85%，汇川技术跌0.24%，迈瑞医疗涨0.49%，天孚通信涨 9.14%，亿纬锂能跌0.54%。 创业50ETF（159682）业绩比较基准为创业板50指数收益率，管理人为景顺长城基金管理有限公司，基 金经理为汪洋、张晓南，成立（2022-12-23）以来回报为49.56%，近一个月回报为1.23%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...

数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：机器人（300024）,埃斯顿（002747）,新时达（002527）,拓斯达（300607）,汇川技术 （300124）,华中数控（300161）,佳士科技（300193）,亚威股份（002559）,拓山重工（001226）,昊志 机电（300503） 2020-2025年中国工业机器人产量统计图 相关报告：智研咨询发布的《2026-2032年中国工业机器人行业竞争策略研究及未来前景展望报告》 根据国家统计局数据显示：2025年12月中国工业机器人产量为9万套，同比增长14.7%；2025年1-12月中 国工业机器人累计产量为77.3万套，累计增长28%。 ...

Investment Rating - The report maintains an "Outperform" rating for the industry, indicating expected performance above the market benchmark by over 10% [5][10]. Core Insights - Meta's projected capital expenditure for 2026 is expected to reach between $115 billion and $135 billion, nearly double that of the previous year, driven by AI-enhanced advertising business [17]. - Figure's Helix02 humanoid robot has achieved significant breakthroughs in large models and neural networks, enhancing its applicability in household scenarios [3][18]. - The commercial aerospace sector is experiencing intensified competition for orbital resources, with SpaceX applying to deploy a constellation of up to 1 million satellites, which may accelerate advancements in space traffic management technology [2]. Summary by Sections Key Events - Meta's capital expenditure forecast for 2026 is between $115 billion and $135 billion, significantly exceeding analyst expectations [17]. - Figure has launched the Helix02 humanoid robot, which integrates long-range fine manipulation and motion control through a novel three-layer architecture [18]. - SpaceX is seeking approval to deploy a satellite constellation of up to 1 million satellites, enhancing its computational capabilities for advanced AI [2]. Commercial Aerospace Insights - The limited capacity of near-Earth orbit satellites will intensify competition for orbital resources, leading to a "first-come, first-served" effect [2]. - Long-term investment opportunities in commercial aerospace are promising, particularly in the rocket segment, with a focus on key players like SpaceX and domestic companies such as Landspace and CASIC [2]. Humanoid Robotics Insights - The advancements in Figure's Helix02 are expected to unlock new applications in domestic environments as the versatility of humanoid robots increases [3]. - Investment opportunities in humanoid robotics should focus on companies with strong supply chains and market positioning, such as Hengli Hydraulic and Wison Group [3][8]. AI Infrastructure Insights - Meta's capital expenditure forecast indicates a robust outlook for AI infrastructure, particularly in gas turbine and liquid cooling sectors [4]. - Key investment areas include the gas turbine supply chain and high-value segments in liquid cooling systems [4][8]. Company Profit Forecasts - Several companies are rated "Outperform," including: - Green Harmony (688017.SH) with a projected EPS of 0.67 for 2025 and a PE ratio of 342 [10]. - Huichuan Technology (300124.SZ) with an EPS of 2.06 for 2025 and a PE ratio of 36 [10]. - Hengli Hydraulic (601100.SH) with an EPS of 1.87 for 2024 and a PE ratio of 58 [10].

近日，工业自动化龙头汇川技术发布公告，宣布拟赴香港上市，计划"A+H"双平台上市。 公告中，汇川技术将此举明确指向"深入推进国际化战略"，旨在提升全球品牌与综合竞争力。这一资本动作，也与其在2025年第三季度财报中"重点推进 海外能源业务突破"的表述高度吻合，这或也揭示了汇川储能业务的核心战略方向：在布局储能PCS这一核心供应链环节、拓展工商业储能的同时，加速 全球化储能乃至数字能源布局力度。 据了解，汇川技术在储能领域的布局相比其他头部企业稍晚，于2021年才重注进军储能业务，并布局发电侧与电网侧PCS、工商业储能及户用储能等。 根据相关报道显示，汇川技术董事长朱兴明为汇川储能设定"三步走"目标：2025-2026年：聚焦高附加值场景（电网调频、工商业微网），市占率突破 5%；2027-2028年，构建"储能+数字能源"生态，成为全球TOP3；2030年后：主导下一代储能技术标准（如氢-电混合储能），定义行业范式。 公告中，汇川技术将此举明确指向"深入推进国际化战略"，旨在提升全球品牌与综合竞争力。这一资本动作，也与其在2025年第三季度财报中"重点推进 海外能源业务突破"的表述高度吻合，这或也揭示了汇川储 ...