Investment Rating - The report assigns an "Accumulate" rating for the robotics industry [4]. Core Insights - The report highlights the deepening strategies of overseas giants, with OpenAI entering the robotics field and the acceleration of embodied intelligence in Europe. In China, new products and operational scenarios are flourishing, with breakthroughs in both production scale and data elements. The investment and financing market is robust, leading to an expansion of the robotics supply chain and production capacity [2][3]. Summary by Sections Industry News and Company Dynamics - Optimus is already operational in factories and is expected to begin consumer sales by the end of 2027. CEO Elon Musk confirmed this timeline at the World Economic Forum in Davos, stating that several units are currently performing simple tasks and will be ready for more complex operations soon [6][7]. - Yushutech announced that it exceeded 5,500 units in actual sales of humanoid robots for 2025, with over 6,500 units produced. The company clarified that this figure refers to actual sales delivered to end customers [7]. - Shanghai Jiao Tong University and Jieke Robotics have established a joint research center focused on general intelligent robots, aiming for breakthroughs in core technologies and industrial applications [7]. Investment and Financing Dynamics - The financing demand in the robotics sector is increasing, with Skild AI raising approximately $1.4 billion in funding led by SoftBank and NVIDIA, focusing on developing a general robotic "brain" [9]. - Zhejiang Human Robot Innovation Center completed a Pre-A round financing of 450 million yuan, with a strong lineup of investors, aimed at advancing core technologies and scaling production [9]. - Huari Technology plans to go public in Hong Kong, focusing on machine vision and autonomous mobile robots [9]. Investment Recommendations - The report recommends focusing on both complete robotics manufacturers and core component suppliers. Key recommendations include: 1. Actuators and motors: Recommended companies include Zhaowei Electromechanical, with related companies being Mingzhi Electric and Jiechang Drive. 2. Reducers: Related companies include Ruidi Zhichu and Haoneng Co. 3. Screw components: Recommended company is Hengli Hydraulic, with related companies being Zhejiang Rongtai and Best. 4. Screw equipment: Recommended company is Qin Chuan Machine Tool, with related companies being Rifa Precision and Huachen Equipment. 5. Bearings: Recommended company is Longxi Co. 6. Sensors: Recommended companies include Donghua Testing and Anpeilong, with related companies being Lingyun Co. 7. Complete machines: Related companies include Ubtech and Yijiahe [10][12].

Core Viewpoint - Donghua Testing (300354) has developed a digital twin system platform based on fault prediction and health management, leveraging over 30 years of industry experience and continuous technological innovation [1] Group 1: Technology and Innovation - The company utilizes real-time sensor data collection combined with operational parameters from PLC, DCS, and SCADA systems to gather comprehensive features reflecting equipment health status [1] - By employing edge computing and AI models, the company constructs a high-fidelity, full-parameter intelligent digital twin system [1] Group 2: Operational Benefits - The digital twin system enables remote real-time visualization and intelligent analysis of equipment operating status [1] - It supports predictive health management and intelligent operation and maintenance, effectively extending equipment lifespan and reducing unplanned downtime [1] - The system aims to implement a proactive approach to prevent issues before they arise, contributing to safe production and the digital transformation of enterprises [1]

Investment Rating - The report maintains a "Recommended" rating for the mechanical industry, with a focus on mining equipment, AI devices, and consumables [1]. Core Insights - The mechanical industry is expected to enter a new recovery cycle driven by monetary and fiscal policies, with significant capital expenditure anticipated in mining due to rising prices of non-ferrous metals [6][8]. - The AI sector is experiencing rapid growth, leading to increased demand for high-performance servers, GPUs, and advanced PCBs, which are critical for AI applications [6][20]. - The report highlights key companies in various segments, including industrial control, robotics, machine tools, and testing industries, suggesting a broad range of investment opportunities [6][8]. Summary by Sections Industry Overview - The mechanical industry comprises 636 listed companies with a total market capitalization of approximately 70,956.73 billion yuan and a circulating market value of about 58,998.75 billion yuan [3]. Company Profit Forecasts and Valuations - Several companies are highlighted with strong profit forecasts and investment ratings, including: - Huichuan Technology (300124.SZ): EPS forecasted at 2.11 yuan for 2025, with a strong buy rating [2]. - Falan Technology (603966.SH): EPS forecasted at 0.60 yuan for 2025, with a strong buy rating [2]. - Xinjie Electric (603416.SH): EPS forecasted at 1.83 yuan for 2025, with a strong buy rating [2]. - Other notable mentions include companies like Anhui Heli (600761.SH) and Sany Heavy Industry (600031.SH), both receiving strong buy ratings [2]. Market Performance - The mechanical sector has shown a positive performance with a 1.4% increase in the index, while the overall market performance varied across different indices [10][13]. - The 3C equipment segment experienced the highest growth at 14.4%, indicating strong demand in this area [11]. Investment Recommendations - The report suggests focusing on companies that are well-positioned to benefit from the AI wave, such as: - Dingtai High-Tech and Zhongtung High-Tech in the consumables sector [20][21]. - Dazhu CNC and Xinqi Micro-Assembly in the equipment sector [20]. - The report emphasizes the importance of high-end equipment and consumables in the PCB market, projecting significant growth in this area [20][21]. Key Data Tracking - The report includes macroeconomic indicators and industry-specific data, such as the manufacturing PMI and fixed asset investment growth rates, which are crucial for understanding the industry's health [32][36].

（编辑 丛可心） 证券日报网讯 1月14日，东华测试发布公告称，公司全资子公司江苏东华分析仪器有限公司、江苏东华 校准检测有限公司通过全国高新技术企业认定管理工作领导小组办公室备案，被认定为高新技术企业， 预计自2025年12月19日起连续三年享受15%企业所得税优惠税率。 ...

格隆汇1月14日丨东华测试(300354.SZ)公布，近日从全国高新技术企业认定管理工作领导小组办公室下 发的《对江苏省认定机构2025年认定报备的第二批高新技术企业进行备案的公告》文件获悉，公司的全 资子公司江苏东华分析仪器有限公司（简称"东华分析"）、江苏东华校准检测有限公司（简称"东华校 准"）已通过高新技术企业认定。基本情况如下：1、东华分析高新技术企业证书编号： GR202532013511，发证时间：2025年12月19日，有效期：三年。2、东华校准高新技术企业证书编号： GR202532015433，发证时间：2025年12月19日，有效期：三年。 ...

Core Viewpoint - Donghua Testing (300354.SZ) has announced that its wholly-owned subsidiaries, Donghua Analytical Instrument Co., Ltd. and Donghua Calibration Testing Co., Ltd., have been recognized as high-tech enterprises by the National High-tech Enterprise Recognition Management Work Leading Group Office [1] Group 1 - Donghua Analytical has received its high-tech enterprise certificate with the number GR202532013511, issued on December 19, 2025, and is valid for three years [1] - Donghua Calibration has received its high-tech enterprise certificate with the number GR202532015433, also issued on December 19, 2025, and valid for three years [1]

江苏东华测试技术股份有限公司 证券代码：300354 证券简称：东华测试 公告编号：2026-001 江苏东华测试技术股份有限公司 董 事 会 关于全资子公司取得高新技术企业证书的公告 2026 年 1 月 14 日 2、东华校准高新技术企业证书编号：GR202532015433，发证时间：2025 年 12 月 19 日，有效期：三年。 根据《中华人民共和国企业所得税法》等相关规定，上述公司自通过高新技 术企业认定当年起连续三个会计年度可享受国家关于高新技术企业的相关税收 优惠政策，即按 15%的税率缴纳企业所得税。 特此公告。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 江苏东华测试技术股份有限公司（以下简称"公司"）于近日从全国高新技 术企业认定管理工作领导小组办公室下发的《对江苏省认定机构 2025 年认定报 备的第二批高新技术企业进行备案的公告》文件获悉，公司的全资子公司江苏东 华分析仪器有限公司（以下简称"东华分析"）、江苏东华校准检测有限公司（以 下简称"东华校准"）已通过高新技术企业认定。基本情况如下： 1、东华分析高新技术企业证书编号：G ...

Group 1 - The stock of Donghua Testing fell by 5.04% on January 13, trading at 47.10 CNY per share, with a transaction volume of 203 million CNY and a turnover rate of 5.23%, resulting in a total market capitalization of 6.515 billion CNY [1] - Donghua Testing, established on March 8, 1993, and listed on September 20, 2012, specializes in the research, production, and sales of structural mechanics performance testing instruments and related software, providing application solutions and technical services [1] - The company's main revenue sources include structural mechanics performance testing analysis systems (71.99%), structural safety online monitoring and defense equipment PHM systems (12.89%), electrochemical workstations (10.54%), and other supplementary services (4.58%) [1] Group 2 - The Huaren Yuanda Fund holds a significant position in Donghua Testing, with its Huaren Yuanda Quantitative Optimal Mixed A Fund (000646) owning 22,100 shares, accounting for 5.12% of the fund's net value, making it the seventh-largest holding [2] - The Huaren Yuanda Quantitative Optimal Mixed A Fund was established on August 18, 2014, with a current scale of 20.3622 million CNY, achieving a year-to-date return of 6.77% and a one-year return of 43.47%, ranking 2188 out of 8836 and 3100 out of 8091 in its category, respectively [2] - The fund manager, Li Wuqin, has been in charge for 9 years and 271 days, with the fund's total asset scale at 168 million CNY, achieving the best return of 107.94% and the worst return of -33.82% during his tenure [3]

Group 1 - The company, Donghua Testing (300354), has indicated that its products are widely used in key national development industries and fields [1] - The applications of the company's products include defense industry, aerospace, civil engineering, engineering machinery, rail transportation, and shipping [1]

证券日报网讯1月9日，东华测试（300354）在互动平台回答投资者提问时表示，公司将持续深耕技术优 势，系统推进产品创新与技术迭代，把握商业航天发展（000547）新机遇。 ...