Investment Rating - The report assigns an "Overweight" rating for the industry, indicating a projected performance that exceeds the Shanghai and Shenzhen 300 Index by more than 15% [11]. Core Insights - In 2026, NVIDIA's advancements in embodied intelligence have transitioned from technical exploration to engineering implementation and ecosystem development, focusing on software models, simulation infrastructure, hardware deployment, and collaborative ecosystems [2][4]. - The humanoid robot industry is entering the "engineering implementation" phase, with significant investment opportunities identified in both beta (software and embodied models) and alpha (hardware) categories [4]. Summary by Relevant Sections Investment Recommendations - The report suggests focusing on: 1. Beta opportunities in embodied models and software, recommending companies such as Hangcha Group, UBTECH, and Woan Robotics. 2. Alpha opportunities in hardware, including: - Force/Torque sensors: Anpeilong - Encoders: Yapu Co., Ltd., Shuo Beid - Visual sensors: Aoptical, Orbbec - IMU: Joyson Electronics, Huayi Technology - Power devices: Innodisk - MCU and hollow cup: Fengcai Technology - Dexterous hands: Zhaowei Electric - Linear joints: Hengli Hydraulic, Zhejiang Rongtai, Zhenyu Technology - Rotary joints: Lide Harmonic, Shuanghuan Transmission, Minshi Group, Keda Li [4][5]. NVIDIA's Ecosystem Development - NVIDIA is building a "CUDA ecosystem" for robotics, utilizing Cosmos (data generation), Isaac (simulation training), and GROOT (robotic foundational models) to attract developers and accelerate commercialization [4]. - The GROOT N1.7 model has been released, enhancing robotic operational capabilities and introducing reasoning modules, with the upcoming GROOT N2 aimed at achieving world-model-level physical understanding [4]. Robotics Training and Infrastructure - The report highlights the release of Isaac Lab 3.0, which features a new Newton physics engine and enhanced support for complex dexterous operation scenarios [4]. - The DGX™-AI training server platform integrates multiple high-end GPUs and is optimized for AI training, capable of forming GPU clusters to enhance training scale [4].

Investment Rating - The report maintains a "Recommended" rating for the automotive industry [2][9]. Core Insights - The "14th Five-Year Plan" emphasizes the acceleration of new quality productivity, with a focus on intelligent levels as the core competitiveness of the automotive industry. The development of unmanned logistics vehicles and Robotaxi is expected to experience rapid growth [2][5]. - The automotive industry is crucial for stabilizing national economic growth due to its significant contribution to GDP, consumer demand, and employment. The total industrial output value of key automotive enterprises in China is projected to grow from 2.51 trillion yuan in 2013 to 4.77 trillion yuan by 2025, maintaining a GDP share of over 3% [4][5]. - The automotive aftermarket is highlighted as a key area for extending the consumption chain and stimulating new consumer vitality, with segments like modification and rental expected to benefit significantly [4][5]. Summary by Sections Industry Overview - The automotive industry is entering a new phase of transformation and upgrading, focusing on intelligence as a driving force. The report outlines the importance of new technologies and strategic emerging industries, including new energy and intelligent connected vehicles [2][4]. Market Dynamics - The report indicates that by 2025, China's automotive production and sales are expected to exceed 34 million units, with a total of over 11.18 trillion yuan in revenue for the automotive manufacturing industry [4][5]. - Policies such as vehicle trade-in and tax reductions are anticipated to continue supporting automotive consumption, contributing to domestic demand and economic recovery [4][5]. Technological Advancements - The report discusses the integration of artificial intelligence across the automotive supply chain, with advancements in autonomous driving and smart components expected to drive growth. The commercial viability of unmanned logistics vehicles and Robotaxi is highlighted, with significant developments anticipated during the "14th Five-Year Plan" period [5][9]. - The report also emphasizes the potential for humanoid robots and low-altitude economy sectors to create new growth opportunities within the automotive industry [5][9]. Investment Recommendations - Recommended companies include Geely Automobile, Great Wall Motors, and JAC Motors in the vehicle segment, while companies like Suoteng Juchuang and Desay SV are highlighted in the intelligent components sector. The humanoid robot supply chain includes Top Group as a recommended company [7][9].

Core Insights - The article discusses the evolution and core technology routes of dexterous hands, which are essential for humanoid robots, highlighting the significant market potential and domestic replacement paths in the industry [2][3][4]. Group 1: Industry Overview - The dexterous hand, as a critical end-effector of humanoid robots, determines the efficiency and performance of robots, enabling complex interactions with the environment [11]. - The development of dexterous hands has accelerated in recent years, with Tesla's Optimus series becoming a benchmark in the industry, while domestic companies like Yushu Technology and Lingqiao Intelligent are also emerging [6][21]. Group 2: Technology Evolution - The future of dexterous hands will focus on under-actuated architectures, efficient motor drives, and advanced transmission methods, combined with enhanced sensing capabilities to achieve natural and precise operations [3][7]. - The article outlines four core technology routes: degrees of freedom, drive systems, transmission methods, and sensing technologies, which together form a comprehensive technical chain from mechanical structure to intelligent interaction [8][36]. Group 3: Market Potential - The market for dexterous hands is projected to reach a scale of hundreds of billions, with Tesla's Optimus expected to achieve mass production of over one million units in the next 4-5 years, significantly contributing to market growth [3][4][6]. - Domestic listed companies are deepening their layout in core components of dexterous hands, focusing on motors, tendons, screws, sensors, and covers [3][4]. Group 4: Investment Recommendations - Key investment areas include motors, screws, tendons, and sensors, which are characterized by high value and growth potential, with companies positioned advantageously in the supply chain likely to benefit from the industrialization of humanoid robots [4][5]. - Companies in the automotive parts sector are recommended for their strong customer positioning and production capabilities, as their main products are closely related to robotics [5].

证券代码：301413 证券简称：安培龙 公告编号：2026-017 一、募集资金基本情况 二、募集资金四方监管协议的签订情况和募集资金专户的开立情况 公司于 2026 年 1 月 28 日召开了第四届董事会第十三次会议并于 2026 年 2 月 27 日召开了 2026 年第二次临时股东会，审议通过了《关于使用剩余超募资金 投资建设新项目的议案》并授权公司管理层办理开立募集资金专用账户及签署募 集资金专户存储三方/四方监管协议等相关事宜。上述事项具体内容详见公司分 别于2026年1月29日、2026年2月27日披露在巨潮资讯网（www.cninfo.com.cn） 的《第四届董事会第十三次会议决议公告》（公告编号：2026-010）、《关于使 用剩余超募资金投资建设新项目的公告》（公告编号：2026-012）、《关于 2026 年第二次临时股东会决议公告》（公告编号：2026-016）。 深圳安培龙科技股份有限公司 关于子公司开立募集资金专项账户并签订募集资金四方监管协议的 经中国证券监督管理委员会《关于同意深圳安培龙科技股份有限公司首次公 开发行股票注册的批复》（证监许可〔2023〕1645 号）同意注册 ...

Investment Rating - The report assigns an "Overweight" rating for the robotics industry [4]. Core Insights - The focus of the Two Sessions on humanoid robots and the acceleration of their application by companies like BMW and Samsung indicates a significant technological breakthrough and investment momentum in the industry [2][3]. - The humanoid robot sector is experiencing a surge in financing and technological advancements, with domestic companies making notable progress [2][3]. Summary by Sections Industry News and Company Developments - BMW has introduced humanoid robots in its Leipzig factory for real industrial applications, marking the first deployment in Europe for the company [6]. - Samsung plans to transform all its factories into AI-driven facilities by 2030, integrating humanoid robots into various operational processes [7]. - The Chinese government is emphasizing the importance of humanoid robots in its technology innovation strategy, with notable entrepreneurs advocating for accelerated development in this field [7][9]. Investment Dynamics - The humanoid robot sector is witnessing increased investment activity, with companies like UniX AI and Galaxy General Robotics securing significant funding rounds [11]. - Notable financing includes UniX AI's completion of nearly 300 million yuan and Galaxy General Robotics' 2.5 billion yuan funding, positioning them as leaders in the domestic humanoid robotics market [11]. Investment Recommendations - The report suggests focusing on both complete robot manufacturers and core component suppliers, highlighting specific companies for investment: 1. Actuators and Motors: Recommended companies include Zhaowei Electromechanical and Mingzhi Electric, with related firms like Weichuang Electric and Boke Co [15]. 2. Gear Reducers: Key players include Lide Harmony and Keda Li, among others [15]. 3. Sensors: Recommended companies include Amperelong and Hanwei Technology [15]. - The report notes that the robotics sector accounted for approximately 4.5% of total A-share trading volume, indicating a slight decrease in activity [13].

Current Strategy Viewpoints - The capital market experienced fluctuations in early February but rebounded later in the month, primarily due to reduced trading activity before the Spring Festival and short-term policy guidance [1] - The market is expected to enter a phase of economic data and policy verification, with a seasonal increase in trading activity post-Spring Festival, laying a foundation for future market performance [1] - Upcoming economic and corporate profit data, along with the National People's Congress in March, will be crucial for setting the annual policy tone and economic targets, which are significant for the capital market [1] Sector Focus - Short-term focus on safe-haven assets and resource products due to tensions in the Middle East, including precious metals and oil sectors [2] - Long-term focus on growth and cyclical sectors, with particular attention to small-cap stocks that typically perform well in spring [2] - Key sectors to watch include humanoid robots, computing, and AI, benefiting from sustained industry enthusiasm and increased risk appetite among investors [2] Macro Overview - The upcoming National People's Congress will set the tone for the annual economy, with GDP growth targets expected to be set between 4.5% and 5% [8] - Fiscal policy is anticipated to include a deficit rate of 4.0% and new special bonds totaling 5 trillion yuan, indicating a significant increase in fiscal deficit compared to last year [8] Financial Engineering - The A-share market has seen a rise in industry crowding, particularly in media and resource sectors, with the media sector showing a crowding degree of 98.25% [12][14] - The resource sector continues to perform well, with price fluctuations leading to a decrease in crowding indicators, suggesting a potential for continued upward movement [13] Electronic Communication Industry - The upcoming GTC conference is expected to showcase new chip developments from NVIDIA, reinforcing AI as a core investment theme [24] - The demand for storage products is projected to rise significantly, driven by strong AI customer needs and price increases in the DRAM market [25] Computer Industry - The rapid iteration of domestic AI large models is expected to drive significant growth in computing power investments, with a focus on world model technology advancements [28] - The demand for AI-driven applications is anticipated to increase, leading to a surge in computing needs and infrastructure investments [29] New Energy Industry - Focus on hydrogen and ammonia projects, with government support for integrated energy bases expected to drive growth in this sector [32] - The electric power equipment sector is poised for growth due to ongoing global energy demands and potential easing of import restrictions in India [32] High-end Manufacturing Industry - The humanoid robot sector is entering a phase of mass production, with significant advancements showcased during the Spring Festival [35] - The North American AI supply chain remains robust, with ongoing demand for advanced equipment and materials expected to drive growth [36]

Investment Rating - The report assigns an "Overweight" rating to the robotics industry [27]. Core Insights - The latest embodiment intelligence model, Pi 06, has significantly improved robustness, with the number of domestic humanoid startups valued at over 10 billion increasing to six [2][4]. - Pi 06 achieved a 92% autonomous operation rate in laundry tasks and a packaging efficiency of 165 items per hour [4][6]. - Nvidia's DreamDojo model has addressed the bottleneck of insufficient operational training data for robots by utilizing a large dataset of 44,000 hours of first-person human video [4][6]. - Major financing events include AI² Robotics raising over 10 billion RMB, Qianxun Intelligent completing nearly 2 billion RMB in two rounds, and Yinshi Robotics securing several hundred million RMB [4][26]. Summary by Sections Industry News and Company Dynamics - Physical Intelligence's Pi 06 model demonstrated a 92% autonomous operation rate in a laundry setting and a packaging efficiency of 165 items per hour [6]. - Nvidia's DreamDojo model has created a comprehensive robot world model, bridging the embodiment gap through large-scale human video pre-training [6]. - Domestic companies like Yinshi Robotics and AI² Robotics are making significant strides in funding and technology development [6][26]. Investment Recommendations - Focus on robotics manufacturers and core component suppliers, including: 1. Actuators and motors: Recommended companies include Zhao Wei Electric and related firms like Weichuang Electric and Buke Co [27]. 2. Reducers: Key players include Lide Harmony and Blue Dai Technology [27]. 3. Screw components: Recommended company is Hengli Hydraulic [27]. 4. Equipment: Recommended company is Tsunami Machine Tool China [27]. 5. Sensors: Recommended companies include Anpeilong and Hanwei Technology [27]. 6. Joints: Recommended company is Changying Precision [27]. 7. Structural components: Related company is Ningbo Huaxiang [27]. 8. Complete machines: Recommended companies include UBTECH and Hangcha Group [27].

证券代码：301413 证券简称：安培龙 础上，公司将制定科学合理的分红方案，保证投资者分享公司的发展成果。 问题 6：公司 2026 年是否会进行员工股权激励？ | 上市公司接待人员 | 董事长、总经理 | 邬若军 | 先生 | | --- | --- | --- | --- | | 姓名 | 董事、副总经理、董事会秘书 | 张延洪 | 先生 | | | 证券事务代表、投资者关系总监 | 彭碧泳 | 女士 | | | 问题 1：请介绍一下公司 MEMS 压力传感器经营情况。 | | | | | 回复：公司 压力传感器，其主要是在硅片上生成的微机电传感 MEMS | | | | | 器，采用半导体工艺将四个以上电阻集成在单晶硅或者扩散硅膜片上，形成 | | | | | 惠斯通电桥，制成硅压阻芯片。公司的 压力传感器主要应用于汽车 | MEMS | | | | 以及家电等领域。在汽车应用场景主要包括汽车车身及舒适系统（侧边气囊 | | | | | 压力传感器）、底盘及制动系统（空气悬架压力传感器、真空助力压力传感 | | | | | 器）、动力及传动系统（EGR 压差传感器、TMAP 进气 | 压差传感器、GP ...

证券代码：301413 证券简称：安培龙 公告编号：2026-016 深圳安培龙科技股份有限公司 关于 2026 年第二次临时股东会决议公告 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。 特别提示： 1.本次股东会无否决或变更议案的情况。 2.本次股东会不涉及变更以往股东会已通过的决议。 一、召开会议的基本情况 1.股东会的召集人：公司第四届董事会。 4.会议召开的方式：本次股东会采用现场表决与网络投票相结合的方式召开。 5.会议地点：深圳市坪山区坑梓街道金沙社区聚园路1号安培龙智能传感器 产业园深圳安培龙科技股份有限公司17楼会议室。 6.本次股东会会议的召集、召开符合《中华人民共和国公司法》《中华人民 共和国证券法》《深圳证券交易所创业板股票上市规则》和《公司章程》等相关 规定。 二、会议出席情况 2.会议主持人：董事长邬若军先生。 3.会议召开的日期、时间： （1）现场会议召开时间：2026年2月27日（星期五）15:00； （2）网络投票时间：2026年2月27日，其中： 通过深圳证券交易所交易系统进行网络投票的时间为：2026年2月27日上午 9: ...

中国 深圳 福田区 益田路6001号太平金融大厦11、12楼 邮政编码：518038 11F/12F., Taiping Finance Tower, 6001 Yitian Road, Futian District, Shenzhen, P.R. China 518038 电话（Tel.）：（0755）8826 5288 传真（Fax.）：(0755) 8826 5537 网址（Website）：www.sundiallawfirm.com 广东信达律师事务所 关于深圳安培龙科技股份有限公司 2026年第二次临时股东会的 法律意见书 信达会字（2026）第036号 致：深圳安培龙科技股份有限公司 广东信达律师事务所（以下简称"信达"）接受深圳安培龙科技股份有限公司 （以下简称"公司"）的委托，指派信达律师出席公司2026年第二次临时股东会（以 下简称"本次股东会"），对本次股东会的合法性进行见证。 信达律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上 市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和规范性法律 文件以及《深圳安培龙科技股份有限公司章程》（以下简称"《公司章程》 ...