Core Viewpoint - Donghua Testing announced the establishment of branch offices in Wuhan and Xi'an, enhancing its operational footprint and market presence [2] Company Developments - The sixth board meeting of Donghua Testing was held on August 20, 2025, where the proposal to set up branch offices was approved [2] - The Wuhan branch was officially registered on August 21, 2025, indicating a swift implementation of the decision [2] - The Xi'an branch has also completed its registration and recently obtained a business license from the Xi'an High-tech Zone Market Supervision Administration [2]

Core Viewpoint - The joint module, as a core motion component of humanoid robots, significantly impacts overall performance and industry development. The market demand for joint modules is expected to grow, with a projected demand of 4.82 million sets and a market size exceeding 68.9 billion yuan in five years. However, challenges such as technology optimization, cost control, and scene adaptability remain prevalent in the industry [1]. Group 1: Market Demand and Challenges - The demand for joint modules is anticipated to reach 4.82 million sets in five years, with a market size projected to exceed 68.9 billion yuan [1]. - The industry faces challenges including technology optimization, cost control, and scene adaptability, as evidenced by an international humanoid robot manufacturer planning a technical route reconstruction for its third-generation product due to high costs and inadequate adaptability of its second-generation product [1]. Group 2: Strategic Cooperation - Jiangsu Donghua Testing Technology Co., Ltd. and Nantong Zhenkang Machinery Co., Ltd. have signed a strategic cooperation agreement focusing on the R&D and industrialization of humanoid robot joint module technology [3]. - The cooperation aims to leverage each company's technological strengths to enhance the testing control platform for rotary joint modules and explore opportunities in high-precision actuators and intelligent modules for industrial and humanoid robots [3]. Group 3: Technical Complementarity - The collaboration between Donghua Testing and Nantong Zhenkang is based on their complementary technological capabilities in humanoid robot joint modules, focusing on four promising technical directions: dual rigid wheel harmonic modules, planetary roller screw modules, RV reducer modules, and micro screw modules [3]. - Nantong Zhenkang identifies the RV reducer module as the optimal solution for key humanoid robot joints, having mastered the core technology for products with a diameter of 50mm, which offers multiple advantages after structural optimization and lightweight improvements [3]. Group 4: Donghua Testing's Expertise - Donghua Testing specializes in intelligent measurement and control systems, with over 30 years of experience in structural mechanics performance research, testing, simulation analysis, and custom measurement and control systems [5]. - The company's high-precision sensor products, including six-dimensional force sensors, achieve linear accuracy of 0.3% FS, meeting international standards and ensuring reliable performance in complex environments [6][7]. Group 5: Synergistic Model and Industry Impact - The strategic cooperation forms a synergistic model of "joint module core structure R&D + high-precision measurement and control technology support," addressing multiple technical pain points in joint module development [9]. - The collaboration is expected to lead to significant improvements in the performance stability and reliability of joint modules, ultimately driving the humanoid robot industry towards higher precision, reliability, and lower costs [15].

证券代码：300354 证券简称：东华测试 公告编号：2025-051 江苏东华测试技术股份有限公司 4、负责人：夏靖颜 5、成立日期：2025年9月25日 6、经营场所：陕西省西安市高新区锦业路11号绿地中心B座31层3105单元 关于西安分公司完成工商注册登记的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，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2025年8月20日召 开了第六届董事会第九次会议，审议通过了《关于设立分公司的议案》，同意公 司在武汉及西安设立分公司，并授权公司经营管理层负责上述事项的具体实施并 办理有关手续。武汉分公司已于2025年8月21日完成工商注册登记手续，具体内 容详见公司2025年8月22日披露于巨潮资讯网（http://www.cninfo.com.cn）的 《关于设立武汉分公司及西安分公司的公告》。 一、西安分公司的基本情况 目前西安分公司已完成工商注册登记手续，并于近日取得了由西安市市场监 督管理局高新区分局核发的《营业执照》，具体情况如下： 1、分公司名称：江苏东华测试技术股份有限公司西安分公司 2、统一 ...

Investment Rating - The report suggests a focus on the robotics industry, particularly on whole machine manufacturers and core component suppliers, with an overall investment rating of "Neutral" for the industry [26]. Core Insights - The humanoid robotics sector is experiencing a dual momentum of "technological deepening" and "scene landing," indicating a positive outlook for the robotics industry [2]. - Google has launched the latest Gemini Robotics 1.5 series, enhancing robot autonomy and task execution capabilities through advanced models [4][16]. - The report highlights significant investment opportunities in various segments of the robotics supply chain, including motors, joints, sensors, and more [18]. Summary by Sections Industry News and Company Dynamics - Jiangsu Donghua Testing Technology Co., Ltd. signed a strategic cooperation agreement with Nantong Zhenkang Machinery Co., Ltd. to enhance collaboration in robotic joint module technology [6]. - Fourier's third-generation humanoid robot GR-3C made its debut at the 2025 Industrial Expo, showcasing advanced design and capabilities [7]. Investment and Financing Dynamics - 1X Robotics is seeking to raise up to $1 billion, aiming for a valuation of at least $10 billion, following the launch of its new home robot Neo Gamma [16]. - Quan Zhibo completed two rounds of financing exceeding 100 million yuan, focusing on talent development and R&D [16]. Investment Recommendations - The report recommends focusing on key robotics component suppliers, including: 1. Motors: Mingzhi Electric 2. Rotating joints: Zhongchen Technology, Shuanghuan Transmission, Landai Technology 3. Linear joints: Hengli Hydraulic 4. Dexterous hands: Zhaowei Electromechanical 5. Encoders: Yap Technology, Fengqiao Technology 6. Sensors: Donghua Testing, Keli Sensor, Anpeilong, Hanwei Technology 7. Screw equipment: Qinchuan Machine Tool, Huachen Equipment 8. Bearings: Longxi Co., Ltd. [18][19]

Core Points - Donghua Testing announced the completion of the first phase of its employee stock ownership plan, involving the transfer of 300,000 shares, which represents 0.2169% of the company's total share capital [1] - The shares were transferred from the company's repurchase account to the "Jiangsu Donghua Testing Technology Co., Ltd. - First Phase Employee Stock Ownership Plan" account [1] - Following this transfer, the balance of shares in the company's repurchase account is now 0 shares, indicating that all repurchased shares have been allocated to the employee stock ownership plan [1]

证券代码：300354 证券简称：东华测试 公告编号：2025-049 江苏东华测试技术股份有限公司 关于公司第一期员工持股计划非交易过户完成暨 回购股份处理完成的公告 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2025年9月1日召开 2025年第一次临时股东会，批准实施公司第一期员工持股计划（以下简称"本员 工持股计划"），并授权董事会全权办理与本次持股计划相关的事宜。详见公司 于2025年8月15日、2025年9月1日在证监会指定的创业板信息披露网站巨潮资讯 网披露的持股计划相关公告。 根据《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所 上市公司自律监管指引第2号—创业板上市公司规范运作》等相关规定，本员工 持股计划标的股票非交易过户已完成，现将相关事项公告如下： 一、本员工持股计划的股票来源 本员工持股计划的股票来源为公司回购专用账户回购的东华测试 A 股普通 股股票。 公司于 2023 年 10 月 25 日召开第五届董事会第十八次会议、第五届监事会 第十七次会议，审议通过了《关于 ...

证券代码：300354 证券简称：东华测试 公告编号：2025-050 江苏东华测试技术股份有限公司 第一期员工持股计划第一次持有人会议决议公告 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。 一、持有人会议召开情况 江苏东华测试技术股份有限公司（以下简称"公司"）第一期员工持股计划 （以下简称"本员工持股计划"）第一次持有人会议于2024年9月23日14:00以现 场结合通讯方式召开。 本次会议由公司董事会秘书、副总经理何玲女士召集和主持，本次会议应出 席持有人17人，实际出席持有人17人，代表本员工持股计划份额11,298,000份， 占本员工持股计划总份额的100%。本次会议的召开符合国家法律、法规和本持股 计划的相关规定，会议所作决议合法有效。 二、持有人会议审议情况 经与会持有人审议并表决，一致形成决议如下： （一）审议通过《关于设立公司第一期员工持股计划管理委员会并选举委 员的议案》 为确保公司第一期员工持股计划的顺利实施，根据《第一期员工持股计划（草 案）》《第一期员工持股计划管理办法》等相关规定，同意设立公司第一期员工 持股计划管理委员会，代表 ...

Group 1 - Donghua Testing Technology Co., Ltd. and Nantong Zhenkang Machinery Co., Ltd. signed a strategic cooperation agreement to enhance collaboration in the field of robotic joint module technology development and industrialization [1][3] - The partnership aims to strengthen collaborative innovation in testing control platforms for rotary joint modules and expand market opportunities for high-precision actuators and intelligent modules in industrial and humanoid robots [3] Group 2 - Starry Innovation, a global high-end pool cleaning robot brand, completed a new financing round exceeding 1 billion RMB, led by Meituan Longzhu, with participation from Hillhouse Capital and other existing shareholders [4][6] - The company, established less than two years ago, has become the leading brand in its sector, capturing 85% of the market share in the over $1400 price segment in its first year and over 90% in the ultra-high-end market this year [6] - The funds from this financing will be used for research and development and market expansion, and the company announced its entry into the smart lawn mower robot sector [6] Group 3 - At the 25th China International Industry Fair (CIIF 2025), ABB Robotics launched the OmniCore™ EyeMotion vision system, which can be equipped on all ABB collaborative or industrial robots with OmniCore, enhancing their sensory perception capabilities [7][9] - The system utilizes AI-driven online automatic path planning technology to autonomously plan optimal collision-free paths in real-time, reducing cycle time by 50% [9] - ABB also introduced new products including the IRB 6750S articulated robot and the latest SCARA robot IRB 920, all produced at ABB's Shanghai super factory [9] Group 4 - Zhiyuan Robotics received the industry's first CR certification for humanoid robot datasets, marking a significant step in the field of humanoid robot data collection in China [10][12] - The certification evaluated four core elements of dataset construction, ensuring data standardization and usability throughout the lifecycle [12] - The agibot world dataset, recognized for its scale and quality, replicates five core scenarios and is equipped with eight cameras to ensure high data quality [12] Group 5 - The humanoid robot pilot platform led by Zhangjiang Science City was included in the first batch of Shanghai's pilot platform demonstration list, aiming to provide comprehensive pilot services for startups [13][15] - The platform is designed as a national-level public service platform to accelerate the transformation of achievements in the humanoid robot industry [15]

Group 1 - The core viewpoint of the news is that Donghua Testing has seen a significant increase in its stock price, rising by 5.08% to 47.14 CNY per share, with a trading volume of 230 million CNY and a turnover rate of 6.21%, leading to a total market capitalization of 6.52 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, as well as providing application solutions and technical services [1] - The main revenue composition of Donghua Testing includes: 71.99% from structural mechanics performance testing analysis systems, 12.89% from structural safety online monitoring and defense equipment PHM systems, 10.54% from electrochemical workstations, and 4.58% from other supplementary services [1] Group 2 - According to data, one fund under Bank of China, the Zhongyin Yili Mixed A Fund (002614), holds Donghua Testing as its sixth-largest position, with 5,500 shares, accounting for 0.94% of the fund's net value, and has realized a floating profit of approximately 12,500 CNY today [2] - The Zhongyin Yili Mixed A Fund was established on August 9, 2016, with a latest scale of 7.2743 million CNY, achieving a year-to-date return of 9.87% and a one-year return of 35.84% [2] - The fund manager of Zhongyin Yili Mixed A is He Dalv, who has been in the position for 2 years and 108 days, with the fund's total asset scale at 61.976 million CNY, achieving a best return of 12.12% and a worst return of 10.08% during his tenure [3]

Company Overview - Donghua Testing Technology Co., Ltd. is located in Jiangsu Province and was established on March 8, 1993. The company went public on September 20, 2012. Its main business involves the research, development, production, and sales of structural mechanics performance testing instruments and related software, as well as providing application solutions and technical services [1]. Business Segmentation - The revenue composition of Donghua Testing is as follows: 71.99% from structural mechanics performance testing analysis systems, 12.89% from structural safety online monitoring and defense equipment PHM systems, 10.54% from electrochemical workstations, and 4.58% from other supplementary services [1]. Stock Performance - On September 18, Donghua Testing's stock rose by 5.59%, reaching a price of 47.77 yuan per share, with a trading volume of 95.7366 million yuan and a turnover rate of 2.52%. The total market capitalization is 6.608 billion yuan [1]. Fund Holdings - According to data, one fund under Bank of China, the Zhongyin Yili Mixed A Fund (002614), holds a significant position in Donghua Testing. As of the second quarter, the fund held 5,500 shares, accounting for 0.94% of the fund's net value, making it the sixth-largest holding. The estimated floating profit for today is approximately 13,900 yuan [2]. Fund Manager Information - The fund manager of Zhongyin Yili Mixed A is He Dalv, who has been in the position for 2 years and 107 days. The total asset size of the fund is 61.976 million yuan, with the best return during his tenure being 12.11% and the worst return being 10.08% [3].