Core Viewpoint - The announcement highlights a strategic partnership between Yingboer and Fengli Intelligent aimed at leveraging their respective strengths in various sectors, including new energy vehicles and intelligent manufacturing, to achieve mutual benefits and expand business opportunities [1] Group 1: Strategic Cooperation - Yingboer signed a strategic cooperation agreement with Fengli Intelligent on April 21, 2025, focusing on deep collaboration in fields such as new energy vehicles, joint modules, engineering machinery, eVTOL, and intelligent manufacturing [1] - The partnership aims to integrate Yingboer's competitive advantages in motor and electronic control with Fengli Intelligent's expertise in harmonic and planetary reducers, creating integrated product capabilities [1] Group 2: Business Expansion - The collaboration is expected to enhance Yingboer's layout in the joint module sector and further expand the application areas of its motor and electronic control products, opening new avenues for business growth [1] - The company maintains an open and innovative approach, actively monitoring developments and technological demands across various fields to identify new business areas and product types based on market needs and technological trends [1]

Core Viewpoint - The company Yingboer (300681) announced a collaboration with Fengli Intelligent (301368) to jointly develop joint modules, leveraging each other's resources and expertise in various fields such as new energy vehicles, joint modules, engineering machinery, eVTOL, and intelligent manufacturing [1] Group 1 - The collaboration aims to utilize Fengli Intelligent's advantages in harmonic reducers, planetary reducers, and gears, alongside Yingboer's strengths in drive systems and motors [1] - The products being developed are highly integrated, showcasing significant advantages [1] - The company will promptly disclose any relevant business progress to investors [1]

Group 1 - The core point of the news is that Fengli Intelligent experienced a decline of 5.01% in its stock price, reaching 78.00 CNY per share, with a trading volume of 1.076 billion CNY and a turnover rate of 20.77%, resulting in a total market capitalization of 9.368 billion CNY [1] - Fengli Intelligent, established on April 23, 1995, and listed on December 15, 2022, is located in Taizhou, Zhejiang Province. The company specializes in the research, production, and sales of small modulus gears, gearboxes, and related precision machinery [1] - The main business revenue composition of Fengli Intelligent includes: gears 42.87%, precision reducers (harmonic reducers) and components 28.20%, pneumatic tools and components 23.22%, new energy transmission 4.39%, and others 1.33% [1] Group 2 - From the perspective of the top ten circulating shareholders of Fengli Intelligent, E Fund's ETF, the E Fund National Robot Industry ETF (159530), entered the top ten circulating shareholders in the second quarter, holding 372,800 shares, which accounts for 0.58% of the circulating shares. The estimated floating loss today is approximately 1.5322 million CNY [2] - The E Fund National Robot Industry ETF (159530) was established on January 10, 2024, with a latest scale of 1.654 billion CNY. Year-to-date returns are 47.83%, ranking 585 out of 4222 in its category; the one-year return is 111.91%, ranking 268 out of 3804; and since inception, the return is 71.5% [2] Group 3 - The fund managers of the E Fund National Robot Industry ETF (159530) are Li Shujian and Li Xu. As of the report, Li Shujian has a cumulative tenure of 2 years and 11 days, with a total fund asset size of 4.497 billion CNY, achieving a best fund return of 99.01% and a worst fund return of 2.17% during his tenure [3] - Li Xu has a cumulative tenure of 2 years and 298 days, with a total fund asset size of 7.796 billion CNY, achieving a best fund return of 129.48% and a worst fund return of 9.66% during his tenure [3]

Market Review - The market experienced an upward trend on September 17, with the robotics sector remaining strong, as the Robotics ETF (562500) rose by 1.58%, marking its third consecutive day of gains [1] - The total trading volume reached 2.635 billion, with significant capital inflow into the robotics sector, as the Robotics ETF attracted 501 million in a single day and a total of 1.729 billion over the past five trading days [1] - The Robotics ETF's total scale reached a new high of 20.75 billion, making it the only ETF in the market to exceed 20 billion [1] Hot News - Huawei's annual flagship event, the Huawei Connect 2025, will be held from September 18 to 20, 2025, in Shanghai, focusing on "Elevating Industry Intelligence" [2] - On September 17, Hello announced that its Robotaxi business received strategic investment from Alibaba Group [3] - On September 17, iFlytek launched a multi-language AI model base and series of AI products for the ASEAN region, signing agreements with partners from Laos, Malaysia, Thailand, and other ASEAN countries [3] Institutional Views - Minsheng Securities highlighted that the Huawei Connect 2025 will feature over 300 keynote speeches and forums, along with a 22,000 square meter smart exhibition area, indicating a strong focus on domestic AI infrastructure [4] - The report suggests that domestic AI infrastructure is expected to advance from both software and hardware perspectives, benefiting leading companies in Huawei's supply chain, particularly in the Hongmeng and Ascend ecosystems [4]

丰立智能今日上涨8.52%，全天换手率35.22%，成交额18.35亿元，振幅9.90%。龙虎榜数据显示，机构 净买入2768.79万元，深股通净买入1440.00万元，营业部席位合计净买入1588.82万元。 资金流向方面，今日该股主力资金净流入1845.75万元，其中，特大单净流入4455.27万元，大单资金净 流出2609.52万元。近5日主力资金净流入2760.55万元。（数据宝） 丰立智能9月17日交易公开信息 深交所公开信息显示，当日该股因日换手率达35.22%上榜，机构专用席位净买入2768.79万元，深股通 净买入1440.00万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.66亿元，其中，买入成交额为1.62亿 元，卖出成交额为1.04亿元，合计净买入5797.61万元。 具体来看，今日上榜的营业部中，共有2家机构专用席位现身，即买三、买四、卖四，合计买入金额 4219.99万元，卖出金额1451.20万元，合计净买入2768.79万元，深股通为第一大买入营业部及第一大卖 出营业部，买入金额为5531.23万元，卖出金额为4091.23万元，合计净买入1440.00万元。 ...

Group 1 - The reducer sector is showing strong performance, with significant gains in various stocks [1] - Double Ring Transmission has reached the daily limit increase, indicating strong investor interest [1] - Other notable stocks with substantial gains include Fengli Intelligent, Haozhi Electromechanical, Haoneng Co., Ltd., Zhongchen Technology, Hongchang Technology, Wanliyang, and Zhaowei Electromechanical [1]

Core Insights - Tesla's focus on the development of the Gen3 dexterous hand is crucial for the advancement of humanoid robots, emphasizing its strategic importance in achieving refined and bionic iterations [1][2] - The dexterous hand is a key component for precise operations and intelligent interactions, significantly impacting the learning efficiency of the robot's "brain" [2][4] Summary by Sections Dexterous Hand Development - The dexterous hand is essential for humanoid robots, accounting for approximately half of the overall development effort [2] - Recent advancements in the dexterous hand include a shift towards more refined and bionic designs, which are critical for scaling production [1][2] Gen3 Dexterous Hand Features - Key changes in the Gen3 dexterous hand include: 1. **Motors**: Relocation of motors to the forearm for higher freedom of design and reduced maintenance complexity, with potential use of micro brushless motors [3] 2. **Miniature Ball Screws**: Replacement of worm gears to enhance transmission precision and efficiency [3] 3. **Tendons**: Transition from torque springs to tendon-driven mechanisms for improved finger flexibility [3] 4. **Sensors**: Integration of vision and tactile sensors for enhanced dynamic grasping capabilities [3] 5. **Lightweight Materials**: Adoption of lightweight materials to improve efficiency and lifespan [3] Business Model and Market Potential - The dexterous hand's business model is robust, with potential for earlier market penetration than complete robots, driven by high technical barriers across hardware, algorithms, and application scenarios [4] - Various companies are positioned to benefit from the dexterous hand technology, including: 1. Third-party companies leveraging technology and partnerships for faster production [4] 2. Major firms like Tesla and Xiaomi developing in-house dexterous hand solutions [4] 3. Component manufacturers extending their capabilities into complete hand solutions [4] Investment Recommendations - Companies identified as beneficiaries include Top Group, Zhenyu Technology, Wuzhou New Spring, Longsheng Technology, and others [5]

Group 1 - The core viewpoint of the news is that Fengli Intelligent has seen a significant increase in its stock price, rising by 5.14% to 74.65 CNY per share, with a trading volume of 5.09 billion CNY and a turnover rate of 10.93%, resulting in a total market capitalization of 89.65 billion CNY [1] - Fengli Intelligent, established on April 23, 1995, is located in Taizhou, Zhejiang Province, and was listed on December 15, 2022. The company specializes in the research, production, and sales of small modulus gears, gearboxes, and related precision mechanical components [1] - The main business revenue composition of Fengli Intelligent includes gears (42.87%), precision reducers (28.20%), pneumatic tools (23.22%), new energy transmission (4.39%), and others (1.33%) [1] Group 2 - Among the top ten circulating shareholders of Fengli Intelligent, Penghua Fund's carbon neutrality theme mixed fund (016530) reduced its holdings by 298,100 shares, now holding 1,969,900 shares, which accounts for 3.07% of the circulating shares. The estimated floating profit today is approximately 7.19 million CNY [2] - The Penghua Carbon Neutrality Theme Mixed Fund (016530) was established on May 5, 2023, with a latest scale of 2.08 billion CNY. Year-to-date, it has achieved a return of 98.26%, ranking 59 out of 8,174 in its category; over the past year, it has returned 220.69%, ranking 17 out of 7,982; and since inception, it has returned 96.71% [2]

Core Viewpoint - Fengli Intelligent experienced a stock price increase of 5.14% on September 16, reaching 74.65 CNY per share, with a trading volume of 506 million CNY and a turnover rate of 10.85%, resulting in a total market capitalization of 8.965 billion CNY [1] Company Overview - Zhejiang Fengli Intelligent Technology Co., Ltd. is located in Taizhou, Zhejiang Province, established on April 23, 1995, and listed on December 15, 2022. The company specializes in the research, production, and sales of small modulus gears, gearboxes, and related precision mechanical components [1] - The revenue composition of Fengli Intelligent includes: 42.87% from gears, 28.20% from precision reducers (harmonic reducers) and components, 23.22% from pneumatic tools and components, 4.39% from new energy transmission, and 1.33% from other sources [1] Shareholder Information - Among the top ten circulating shareholders of Fengli Intelligent, E Fund's ETF, the E Fund National Robot Industry ETF (159530), entered the list in the second quarter, holding 372,800 shares, which accounts for 0.58% of the circulating shares. The estimated floating profit for today is approximately 1.3607 million CNY [2] - The E Fund National Robot Industry ETF (159530) was established on January 10, 2024, with a latest scale of 1.654 billion CNY. Year-to-date returns are 37.51%, ranking 997 out of 4222 in its category; the one-year return is 97.12%, ranking 500 out of 3804; and since inception, the return is 59.53% [2] Fund Manager Performance - The fund managers of the E Fund National Robot Industry ETF are Li Shujian and Li Xu. As of the report, Li Shujian has a tenure of 2 years and 9 days, with a total fund asset size of 4.497 billion CNY, achieving a best fund return of 96.42% and a worst return of 1.01% during his tenure [3] - Li Xu has a tenure of 2 years and 296 days, managing a total fund asset size of 7.796 billion CNY, with a best fund return of 121.54% and a worst return of 9.93% during his tenure [3]

Core Points - Fengli Intelligent's stock price increased by 5.14% to 74.65 CNY per share, with a trading volume of 5.09 billion CNY and a turnover rate of 10.93%, resulting in a total market capitalization of 8.965 billion CNY [1] Company Overview - Zhejiang Fengli Intelligent Technology Co., Ltd. was established on April 23, 1995, and went public on December 15, 2022. The company is located in Huangyan District, Taizhou City, Zhejiang Province [1] - The main business activities include research, production, and sales of small modulus gears, gearboxes, and related precision mechanical components. The revenue composition is as follows: gears 42.87%, precision reducers (harmonic reducers) and components 28.20%, pneumatic tools and components 23.22%, new energy transmission 4.39%, and others 1.33% [1] Fund Holdings - According to data, one fund under Baoying Fund has a significant holding in Fengli Intelligent. The Baoying Ruifeng Innovation Mixed A/B Fund (000794) increased its holdings by 13,100 shares in the second quarter, bringing the total to 60,400 shares, which accounts for 4.35% of the fund's net value, making it the fifth-largest holding [2] - The Baoying Ruifeng Innovation Mixed A/B Fund was established on September 26, 2014, with a latest scale of 31.9362 million CNY. Year-to-date returns are 30.31%, ranking 2,623 out of 8,174 in its category; the one-year return is 66.46%, ranking 1,804 out of 7,982; and since inception, the return is 215.6% [2]